|
SEPTEMBER 30, 2021 |
2021 Semi-Annual Report (Unaudited)
|
iShares Trust
· iShares Micro-Cap ETF | IWC | NYSE Arca
· iShares Russell 2500 ETF | SMMD | Cboe BZX
· iShares Russell 3000 ETF | IWV | NYSE Arca
· iShares Russell Mid-Cap ETF | IWR | NYSE Arca
· iShares Russell Mid-Cap Growth ETF | IWP | NYSE Arca
· iShares Russell Mid-Cap Value ETF | IWS | NYSE Arca
Dear Shareholder,
The 12-month reporting period as of September 30, 2021 was a remarkable period of adaptation and recovery, as the global economy dealt with the implications of the coronavirus (or “COVID-19”) pandemic. The United States began the reporting period as the initial reopening-led economic rebound was beginning to slow. Nonetheless, the economy continued to grow at a brisk pace for the reporting period, eventually regaining the output lost from the pandemic.
Equity prices rose with the broader economy, as strong fiscal and monetary support, as well as the development of vaccines, made investors increasingly optimistic about the economic outlook. The implementation of mass vaccination campaigns and passage of two additional fiscal stimulus packages further boosted stocks, and many equity indices neared or surpassed all-time highs late in the reporting period. In the United States, returns of small-capitalization stocks, which benefited the most from the resumption of in-person activities, outpaced large-capitalization stocks. International equities also gained, as both developed and emerging markets continued to recover from the effects of the pandemic.
The 10-year U.S. Treasury yield (which is inversely related to bond prices) had fallen sharply prior to the beginning of the reporting period, which meant bonds were priced for extreme risk avoidance and economic disruption. Despite expectations of doom and gloom, the economy expanded rapidly, stoking inflation concerns in early 2021, which led to higher yields and a negative overall return for most U.S. Treasuries. In the corporate bond market, support from the U.S. Federal Reserve (the “Fed”) assuaged credit concerns and led to solid returns for high-yield corporate bonds, although investment-grade corporates declined slightly.
The Fed remained committed to accommodative monetary policy by maintaining near-zero interest rates and by reiterating that inflation could exceed its 2% target for a sustained period without triggering a rate increase. In response to rising inflation late in the period, the Fed changed its market guidance, raising the possibility of higher rates in 2022 and reducing bond purchasing beginning in late 2021.
Looking ahead, we believe that the global expansion will continue to broaden as Europe and other developed market economies gain momentum, although the delta variant of the coronavirus remains a threat, particularly in emerging markets. While we expect inflation to remain elevated in the medium-term as the expansion continues, we believe the recent uptick owes more to temporary supply disruptions than a lasting change in fundamentals. The change in Fed policy also means that moderate inflation is less likely to be followed by interest rate hikes that could threaten the economic expansion.
Overall, we favor a moderately positive stance toward risk, with an overweight in equities. Sectors that are better poised to manage the transition to a lower-carbon world, such as technology and health care, are particularly attractive in the long-term. U.S. small-capitalization stocks and European equities are likely to benefit from the continuing vaccine-led restart, while Chinese equities stand to gain from a more accommodative monetary and fiscal environment as the Chinese economy slows. We are underweight long-term credit, but inflation-protected U.S. Treasuries, Asian fixed income, and emerging market local-currency bonds offer potential opportunities. We believe that international diversification and a focus on sustainability can help provide portfolio resilience, and the disruption created by the coronavirus appears to be accelerating the shift toward sustainable investments.
In this environment, our view is that investors need to think globally, extend their scope across a broad array of asset classes, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit iShares.com for further insight about investing in today’s markets.
Sincerely,
Trust
Rob Kapito
President, BlackRock, Inc.
Rob Kapito
President, BlackRock, Inc.
Total Returns as of September 30, 2021 | ||||||||||
6-Month | 12-Month | |||||||||
U.S.
large cap equities |
9.18 | % | 30.00 | % | ||||||
U.S.
small cap equities |
(0.25 | ) | 47.68 | |||||||
International
equities |
4.70 | 25.73 | ||||||||
Emerging
market equities |
(3.45 | ) | 18.20 | |||||||
3-month Treasury bills |
0.01 | 0.07 | ||||||||
U.S.
Treasury securities |
2.92 | (6.22 | ) | |||||||
U.S.
investment grade bonds |
1.88 | (0.90 | ) | |||||||
Tax-exempt municipal bonds |
1.24 | 2.71 | ||||||||
U.S.
high yield bonds |
3.65 | 11.27 | ||||||||
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
|
2 |
T H I S P A G E I S N O T P A R T O F Y O U R F U N D R E P O R T |
Page | ||
2 | ||
4 | ||
10 | ||
10 | ||
11 | ||
Financial Statements |
||
89 | ||
91 | ||
93 | ||
96 | ||
102 | ||
114 | ||
124 | ||
125 | ||
126 |
Fund Summary as of September 30, 2021 | iShares® Micro-Cap ETF |
Investment Objective
The iShares Micro-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of micro-capitalization U.S. equities, as represented by the Russell MicroCap® Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
(1.34 | )% | 60.63 | % | 14.28 | % | 15.29 | % | 60.63 | % | 94.92 | % | 314.76 | % | ||||||||||||||||||
Fund Market |
(1.53 | ) | 60.64 | 14.30 | 15.32 | 60.64 | 95.07 | 315.82 | ||||||||||||||||||||||||
Index |
(1.05 | ) | 61.07 | 14.47 | 15.42 | 61.07 | 96.53 | 319.40 |
Certain sectors and markets performed exceptionally well based on market conditions during the one-year period. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such exceptional returns will be repeated.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||
|
|
Beginning Account Value |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| |||||||||
$ 1,000.00 | $ 986.60 | $ 2.99 | $ 1,000.00 | $ 1,022.10 | $ 3.04 | 0.60 | % |
(a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (183 days) and divided by the number of days in the year (365 days). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR | ||
Sector |
Percent of Total Investments(a) | |
Health Care |
29.4% | |
Financials |
19.7 | |
Industrials |
11.4 | |
Consumer Discretionary |
11.3 | |
Information Technology |
9.4 | |
Energy |
6.2 | |
Real Estate |
3.7 | |
Materials |
3.2 | |
Communication Services |
3.1 | |
Consumer Staples |
2.1 | |
Other (each representing less than 1%) |
0.5 |
TEN LARGEST HOLDINGS | ||
Security |
Percent of Total Investments(a) | |
Apollo Medical Holdings Inc. |
0.7% | |
Prothena Corp. PLC |
0.5 | |
Celldex Therapeutics Inc. |
0.5 | |
Beauty Health Co. (The) |
0.4 | |
Everi Holdings Inc. |
0.4 | |
Dynavax Technologies Corp. |
0.4 | |
Trillium Therapeutics Inc. |
0.3 | |
Lantheus Holdings Inc. |
0.3 | |
Houghton Mifflin Harcourt Co. |
0.3 | |
IVERIC bio Inc. |
0.3 |
(a) |
Excludes money market funds. |
4 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Fund Summary as of September 30, 2021 | iShares® Russell 2500 ETF |
Investment Objective
The iShares Russell 2500 ETF (the “Fund”) seeks to track the investment results of an index composed of mid- and small-capitalization U.S. equities, as represented by the Russell 2500TM Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||
6 Months | 1 Year |
Since Inception |
|
1 Year |
Since Inception |
|||||||||||||||||||||
Fund NAV |
2.51 | % | 44.90 | % | 14.09 | % | 44.90 | % | 74.81 | % | ||||||||||||||||
Fund Market |
2.66 | 45.23 | 14.14 | 45.23 | 75.16 | |||||||||||||||||||||
Index |
2.61 | 45.03 | 14.10 | 45.03 | 74.83 |
The inception date of the Fund was 7/6/17. The first day of secondary market trading was 7/7/17.
Certain sectors and markets performed exceptionally well based on market conditions during the one-year period. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such exceptional returns will be repeated.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||
|
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a)(b) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value |
|
|
Expenses Paid During the Period |
(a)(b) |
|
Annualized Expense Ratio |
(a) | |||||||||
$ 1,000.00 | $ 1,025.10 | $ 0.36 | $ 1,000.00 | $ 1,024.70 | $ 0.36 | 0.07 | % |
(a) |
Annualized expense ratio and expenses paid during the period do not include fees and expenses of the underlying fund in which the Fund invests. |
(b) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (183 days) and divided by the number of days in the year (365 days). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR | ||
Sector |
Percent of Total Investments(a) | |
Investment Companies |
44.1% | |
Information Technology |
10.4 | |
Industrials |
9.3 | |
Financials |
7.6 | |
Consumer Discretionary |
7.2 | |
Health Care |
6.7 | |
Real Estate |
5.2 | |
Materials |
3.5 | |
Energy |
1.8 | |
Consumer Staples |
1.6 | |
Communication Services |
1.3 | |
Utilities |
1.3 |
TEN LARGEST HOLDINGS | ||
Security |
Percent of Total Investments(a) | |
iShares Russell 2000 ETF | 44.1% | |
MongoDB Inc. |
0.4 | |
Devon Energy Corp. |
0.4 | |
Avantor Inc. |
0.4 | |
Monolithic Power Systems Inc. |
0.3 | |
Catalent Inc. |
0.3 | |
Bill.com Holdings Inc. |
0.3 | |
Charles River Laboratories International Inc. |
0.3 | |
Enphase Energy Inc. |
0.3 | |
PerkinElmer Inc. |
0.3 |
(a) |
Excludes money market funds. |
F U N D S U M M A R Y |
5 |
Fund Summary as of September 30, 2021 | 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 | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
8.04 | % | 31.63 | % | 16.65 | % | 16.40 | % | 31.63 | % | 115.99 | % | 356.65 | % | ||||||||||||||||||
Fund Market |
8.00 | 31.80 | 16.65 | 16.40 | 31.80 | 116.01 | 356.48 | |||||||||||||||||||||||||
Index |
8.13 | 31.88 | 16.85 | 16.60 | 31.88 | 117.85 | 364.64 |
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||||
$ 1,000.00 | $ 1,080.40 | $ 1.04 | $ 1,000.00 | $ 1,024.10 | $ 1.01 | 0.20 | % |
(a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (183 days) and divided by the number of days in the year (365 days). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
| ||
Sector |
Percent of Total Investments(a) | |
Information Technology |
27.1% | |
Health Care |
13.6 | |
Consumer Discretionary |
12.2 | |
Financials |
11.9 | |
Communication Services |
10.1 | |
Industrials |
9.0 | |
Consumer Staples |
5.3 | |
Real Estate |
3.4 | |
Energy |
2.7 | |
Utilities |
2.4 | |
Materials |
2.3 |
TEN LARGEST HOLDINGS
| ||
Security |
Percent of Total Investments(a) | |
Apple Inc. |
5.1% | |
Microsoft Corp. |
4.8 | |
Amazon.com Inc. |
3.3 | |
Facebook Inc., Class A |
1.9 | |
Alphabet Inc., Class A |
1.8 | |
Alphabet Inc., Class C |
1.7 | |
Tesla Inc. |
1.4 | |
Berkshire Hathaway Inc., Class B |
1.2 | |
NVIDIA Corp. |
1.1 | |
JPMorgan Chase & Co. |
1.1 |
(a) |
Excludes money market funds. |
6 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Fund Summary as of September 30, 2021 | iShares® Russell Mid-Cap ETF |
Investment Objective
The iShares Russell Mid-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of mid-capitalization U.S. equities, as represented by the Russell MidCap® Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
6.38 | % | 37.85 | % | 14.22 | % | 15.34 | % | 37.85 | % | 94.38 | % | 316.73 | % | ||||||||||||||||||
Fund Market |
6.36 | 37.87 | 14.21 | 15.34 | 37.87 | 94.33 | 316.52 | |||||||||||||||||||||||||
Index |
6.50 | 38.11 | 14.39 | 15.52 | 38.11 | 95.85 | 323.39 |
Certain sectors and markets performed exceptionally well based on market conditions during the one-year period. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such exceptional returns will be repeated.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||||
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||||||
$ 1,000.00 | $ 1,063.80 | $ 0.93 | $ 1,000.00 | $ 1,024.20 | $ 0.91 | 0.18 | % |
(a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (183 days) and divided by the number of days in the year (365 days). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR | ||
Sector |
Percent of Total Investments(a) | |
Information Technology |
18.9% | |
Industrials |
15.1 | |
Consumer Discretionary |
12.8 | |
Financials |
12.5 | |
Health Care |
11.9 | |
Real Estate |
7.7 | |
Materials |
5.2 | |
Utilities |
4.5 | |
Communication Services |
4.3 | |
Energy |
3.8 | |
Consumer Staples |
3.3 |
TEN LARGEST HOLDINGS | ||
Security |
Percent of Total Investments(a) | |
Dexcom Inc. |
0.5% | |
IDEXX Laboratories Inc. |
0.5 | |
Chipotle Mexican Grill Inc. |
0.5 | |
Marvell Technology Inc. |
0.4 | |
DocuSign Inc. |
0.4 | |
MSCI Inc. |
0.4 | |
Crowdstrike Holdings Inc., Class A |
0.4 | |
Agilent Technologies Inc. |
0.4 | |
Twitter Inc. |
0.4 | |
Lululemon Athletica Inc. |
0.4 |
(a) |
Excludes money market funds. |
F U N D S U M M A R Y |
7 |
Fund Summary as of September 30, 2021 | iShares® Russell Mid-Cap Growth ETF |
Investment Objective
The iShares Russell Mid-Cap Growth ETF (the “Fund”) seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit growth characteristics, as represented by the Russell MidCap® Growth Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
10.11 | % | 30.17 | % | 19.01 | % | 17.30 | % | 30.17 | % | 138.70 | % | 393.31 | % | ||||||||||||||||||
Fund Market |
9.99 | 30.04 | 18.99 | 17.30 | 30.04 | 138.57 | 393.00 | |||||||||||||||||||||||||
Index |
10.23 | 30.45 | 19.27 | 17.54 | 30.45 | 141.30 | 403.49 |
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||||
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||||||
$ 1,000.00 | $ 1,101.10 | $ 1.21 | $ 1,000.00 | $ 1,023.90 | $ 1.17 | 0.23 | % |
(a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (183 days) and divided by the number of days in the year (365 days). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR | ||
Sector |
Percent of Total Investments(a) | |
Information Technology |
34.3% | |
Health Care |
17.8 | |
Consumer Discretionary |
16.3 | |
Industrials |
14.4 | |
Financials |
5.0 | |
Communication Services |
4.9 | |
Real Estate |
1.9 | |
Consumer Staples |
1.8 | |
Materials |
1.8 | |
Energy |
1.6 | |
Utilities |
0.2 |
TEN LARGEST HOLDINGS | ||
Security |
Percent of Total Investments(a) | |
Dexcom Inc. |
1.3% | |
IDEXX Laboratories Inc. |
1.3 | |
Chipotle Mexican Grill Inc. |
1.3 | |
DocuSign Inc. |
1.2 | |
Crowdstrike Holdings Inc., Class A |
1.2 | |
Lululemon Athletica Inc. |
1.1 | |
Palo Alto Networks Inc. |
1.1 | |
Match Group Inc. |
1.1 | |
Agilent Technologies Inc. |
1.1 | |
Cadence Design Systems Inc. |
1.0 |
(a) |
Excludes money market funds. |
8 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Fund Summary as of September 30, 2021 | iShares® 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 Months | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
4.47 | % | 42.07 | % | 10.38 | % | 13.70 | % | 42.07 | % | 63.87 | % | 261.07 | % | ||||||||||||||||||
Fund Market |
4.34 | 42.22 | 10.39 | 13.69 | 42.22 | 63.91 | 260.90 | |||||||||||||||||||||||||
Index |
4.59 | 42.40 | 10.59 | 13.93 | 42.40 | 65.44 | 268.57 |
Certain sectors and markets performed exceptionally well based on market conditions during the one-year period. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such exceptional returns will be repeated.
Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||||
$ 1,000.00 | $ 1,044.70 | $ 1.18 | $ 1,000.00 | $ 1,023.90 | $ 1.17 | 0.23 | % |
(a) |
Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (183 days) and divided by the number of days in the year (365 days). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Shareholder Expenses” on page 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR | ||
Sector |
Percent of Total Investments(a) | |
Financials |
16.8% | |
Industrials |
15.6 | |
Real Estate |
11.1 | |
Consumer Discretionary |
10.7 | |
Information Technology |
9.8 | |
Health Care |
8.4 | |
Materials |
7.2 | |
Utilities |
7.0 | |
Energy |
5.2 | |
Consumer Staples |
4.2 | |
Communication Services |
4.0 |
TEN LARGEST HOLDINGS | ||
Security |
Percent of Total Investments(a) | |
Marvell Technology Inc. |
0.7% | |
IHS Markit Ltd. |
0.6 | |
Twitter Inc. |
0.6 | |
Prudential Financial Inc. |
0.6 | |
Marathon Petroleum Corp. |
0.6 | |
Motorola Solutions Inc. |
0.6 | |
SVB Financial Group |
0.5 | |
Otis Worldwide Corp. |
0.5 | |
Welltower Inc. |
0.5 | |
Aflac Inc. |
0.5 |
(a) |
Excludes money market funds. |
F U N D S U M M A R Y |
9 |
Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.
Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined by using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. 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.
As a shareholder of your Fund, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of fund shares and (2) ongoing costs, including management fees and other fund expenses. The expense example, which is based on an investment of $1,000 invested at the beginning of the period (or from the commencement of operations if less than 6 months) and held through the end of the period, is intended to help you understand your ongoing costs (in dollars and cents) of investing in your Fund and to compare these costs with the ongoing costs of investing in other funds.
Actual Expenses – The table provides information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. To estimate the expenses that you paid on your account over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”
Hypothetical Example for Comparison Purposes – The table also provides information about hypothetical account values and hypothetical expenses based on your Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
10 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Aerospace & Defense — 0.9% | ||||||||
AerSale Corp.(a)(b) |
21,304 | $ | 362,168 | |||||
Air Industries Group(a)(b) |
61,555 | 65,864 | ||||||
Astronics Corp.(a) |
57,485 | 808,239 | ||||||
Astrotech Corp.(a) |
112,892 | 118,537 | ||||||
Byrna Technologies Inc.(a)(b) |
43,100 | 942,166 | ||||||
CPI Aerostructures Inc.(a)(b) |
22,681 | 62,373 | ||||||
Ducommun Inc.(a) |
25,667 | 1,292,333 | ||||||
Innovative Solutions & Support Inc. |
29,987 | 214,407 | ||||||
National Presto Industries Inc. |
12,232 | 1,004,003 | ||||||
PAE Inc.(a)(b) |
163,472 | 977,563 | ||||||
Park Aerospace Corp. |
46,373 | 634,383 | ||||||
SIFCO Industries Inc.(a) |
8,604 | 73,994 | ||||||
Sigma Labs Inc.(a)(b) |
27,084 | 82,877 | ||||||
Triumph Group Inc.(a) |
150,929 | 2,811,807 | ||||||
Vectrus Inc.(a) |
27,177 | 1,366,459 | ||||||
Virtra Inc.(a)(b) |
18,202 | 184,568 | ||||||
|
|
|||||||
11,001,741 | ||||||||
Air Freight & Logistics — 0.3% | ||||||||
Air T Inc.(a) |
2,818 | 77,833 | ||||||
Echo Global Logistics Inc.(a) |
62,215 | 2,968,278 | ||||||
Radiant Logistics Inc.(a) |
92,668 | 592,148 | ||||||
|
|
|||||||
3,638,259 | ||||||||
Airlines — 0.1% | ||||||||
Mesa Air Group Inc.(a)(b) |
81,398 | 623,509 | ||||||
|
|
|||||||
Auto Components — 0.5% | ||||||||
Cooper-Standard Holdings Inc.(a)(b) |
39,574 | 867,066 | ||||||
Horizon Global Corp.(a) |
52,683 | 370,361 | ||||||
Modine Manufacturing Co.(a) |
117,434 | 1,330,527 | ||||||
Motorcar Parts of America Inc.(a)(b) |
44,129 | 860,516 | ||||||
Stoneridge Inc.(a)(b) |
62,079 | 1,265,791 | ||||||
Strattec Security Corp.(a) |
8,795 | 342,126 | ||||||
Superior Industries International Inc.(a) |
58,688 | 413,750 | ||||||
Sypris Solutions Inc.(a) |
28,895 | 103,155 | ||||||
Unique Fabricating Inc.(a)(b) |
21,556 | 71,135 | ||||||
XL Fleet Corp.(a)(b) |
81,680 | 503,149 | ||||||
|
|
|||||||
6,127,576 | ||||||||
Automobiles — 0.3% | ||||||||
Arcimoto Inc.(a)(b) |
64,140 | 733,120 | ||||||
AYRO Inc.(a)(b) |
78,649 | 268,193 | ||||||
Workhorse Group Inc.(a)(b) |
285,812 | 2,186,462 | ||||||
|
|
|||||||
3,187,775 | ||||||||
Banks — 12.0% | ||||||||
1st Constitution Bancorp. |
21,470 | 508,195 | ||||||
ACNB Corp. |
20,758 | 581,224 | ||||||
Affinity Bancshares Inc.(a) |
13,844 | 194,785 | ||||||
Allegiance Bancshares Inc. |
45,409 | 1,732,353 | ||||||
Amalgamated Financial Corp. |
32,941 | 521,127 | ||||||
Amerant Bancorp Inc.(a)(b) |
49,343 | 1,220,746 | ||||||
American National Bankshares Inc. |
26,007 | 859,271 | ||||||
AmeriServ Financial Inc. |
29,993 | 117,273 | ||||||
Ames National Corp. |
21,238 | 493,996 | ||||||
Arrow Financial Corp. |
33,205 | 1,140,924 | ||||||
Atlantic Capital Bancshares Inc.(a) |
46,611 | 1,234,725 | ||||||
Auburn National Bancorp. Inc. |
5,730 | 194,820 | ||||||
Bancorp. Inc. (The)(a)(b) |
122,982 | 3,129,892 | ||||||
Bank First Corp.(b) |
15,932 | 1,129,101 | ||||||
Bank of Marin Bancorp., Class A |
38,063 | 1,436,878 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Bank of Princeton (The) |
13,602 | $ | 408,604 | |||||
Bank of South Carolina Corp. |
8,478 | 170,493 | ||||||
Bank of the James Financial Group Inc. |
9,308 | 135,897 | ||||||
Bank7 Corp. |
5,939 | 127,273 | ||||||
BankFinancial Corp. |
30,641 | 351,759 | ||||||
Bankwell Financial Group Inc. |
13,987 | 411,637 | ||||||
Bar Harbor Bankshares |
35,133 | 985,481 | ||||||
Baycom Corp.(a) |
24,211 | 450,325 | ||||||
BCB Bancorp. Inc. |
35,489 | 523,818 | ||||||
Blue Ridge Bankshares Inc. |
40,573 | 713,679 | ||||||
Bryn Mawr Bank Corp. |
47,074 | 2,163,050 | ||||||
Business First Bancshares Inc. |
45,284 | 1,059,193 | ||||||
Byline Bancorp Inc. |
59,421 | 1,459,380 | ||||||
C&F Financial Corp. |
8,206 | 435,821 | ||||||
California Bancorp Inc.(a) |
17,672 | 304,842 | ||||||
Cambridge Bancorp. |
16,215 | 1,426,920 | ||||||
Camden National Corp. |
35,502 | 1,700,546 | ||||||
Capital Bancorp Inc./MD(b) |
18,570 | 446,794 | ||||||
Capital City Bank Group Inc. |
32,334 | 799,943 | ||||||
Capstar Financial Holdings Inc. |
48,423 | 1,028,504 | ||||||
Carter Bankshares Inc.(a) |
61,680 | 877,090 | ||||||
CB Financial Services Inc. |
11,892 | 273,873 | ||||||
CBTX Inc. |
43,702 | 1,152,859 | ||||||
Central Pacific Financial Corp. |
45,208 | 1,160,941 | ||||||
Central Valley Community Bancorp. |
24,454 | 525,761 | ||||||
Century Bancorp. Inc./MA, Class A, NVS |
6,371 | 734,194 | ||||||
Chemung Financial Corp. |
8,353 | 378,391 | ||||||
ChoiceOne Financial Services Inc. |
17,271 | 424,694 | ||||||
Citizens & Northern Corp. |
38,121 | 962,936 | ||||||
Citizens Community Bancorp. Inc./WI |
24,065 | 334,503 | ||||||
Citizens Holding Co. |
11,812 | 220,766 | ||||||
Civista Bancshares Inc. |
35,531 | 825,385 | ||||||
CNB Financial Corp./PA |
38,871 | 946,120 | ||||||
Coastal Financial Corp./WA(a) |
22,197 | 707,196 | ||||||
Codorus Valley Bancorp. Inc. |
22,277 | 502,124 | ||||||
Colony Bankcorp Inc. |
20,821 | 389,977 | ||||||
Community Bankers Trust Corp. |
51,447 | 584,952 | ||||||
Community Financial Corp. (The) |
12,508 | 461,170 | ||||||
Community Trust Bancorp. Inc. |
37,993 | 1,599,505 | ||||||
Community West Bancshares |
16,676 | 220,957 | ||||||
ConnectOne Bancorp. Inc. |
88,586 | 2,658,466 | ||||||
Cortland Bancorp. |
9,105 | 253,210 | ||||||
County Bancorp. Inc.(b) |
10,860 | 395,847 | ||||||
CrossFirst Bankshares Inc.(a) |
111,356 | 1,447,628 | ||||||
Customers Bancorp. Inc.(a) |
70,553 | 3,035,190 | ||||||
Dime Community Bancshares Inc. |
82,427 | 2,692,066 | ||||||
Eagle Bancorp. Montana Inc. |
15,098 | 337,742 | ||||||
Emclaire Financial Corp. |
6,010 | 159,205 | ||||||
Enterprise Bancorp. Inc./MA |
22,307 | 801,937 | ||||||
Equity Bancshares Inc., Class A(b) |
32,147 | 1,073,067 | ||||||
Esquire Financial Holdings Inc.(a)(b) |
15,861 | 454,576 | ||||||
Evans Bancorp. Inc. |
12,428 | 475,992 | ||||||
Farmers & Merchants Bancorp. Inc./Archbold OH |
24,549 | 549,898 | ||||||
Farmers National Banc Corp. |
62,112 | 975,779 | ||||||
Fidelity D&D Bancorp. Inc. |
9,731 | 490,734 | ||||||
Financial Institutions Inc. |
38,102 | 1,167,826 | ||||||
First Bancorp. Inc. (The) |
25,090 | 731,123 | ||||||
First Bancshares Inc. (The) |
48,426 | 1,877,960 | ||||||
First Bank/Hamilton NJ |
37,118 | 522,993 | ||||||
First Business Financial Services Inc. |
19,628 | 563,520 |
S C H E D U L E O F I N V E S T M E N T S |
11 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
First Capital Inc. |
7,839 | $ | 319,674 | |||||
First Community Bankshares Inc. |
40,826 | 1,295,001 | ||||||
First Community Corp./SC |
17,588 | 350,881 | ||||||
First Financial Corp./IN |
28,544 | 1,200,275 | ||||||
First Financial Northwest Inc. |
17,677 | 289,372 | ||||||
First Foundation Inc. |
93,761 | 2,465,914 | ||||||
First Guaranty Bancshares Inc. |
12,513 | 251,136 | ||||||
First Internet Bancorp. |
21,994 | 685,773 | ||||||
First Mid Bancshares Inc. |
39,473 | 1,620,761 | ||||||
First National Corp./VA(b) |
9,879 | 227,711 | ||||||
First Northwest Bancorp. |
19,478 | 342,034 | ||||||
First of Long Island Corp. (The) |
54,641 | 1,125,605 | ||||||
First Savings Financial Group Inc. |
13,454 | 378,326 | ||||||
First U.S. Bancshares Inc. |
10,536 | 113,157 | ||||||
First United Corp. |
15,761 | 293,155 | ||||||
First Western Financial Inc.(a) |
15,153 | 439,285 | ||||||
Five Star Bancorp. |
13,101 | 313,638 | ||||||
Flushing Financial Corp. |
71,109 | 1,607,063 | ||||||
FNCB Bancorp Inc. |
40,336 | 334,789 | ||||||
Franklin Financial Services Corp. |
10,179 | 329,291 | ||||||
FVCBankcorp Inc.(a)(b) |
27,799 | 555,702 | ||||||
German American Bancorp. Inc. |
58,869 | 2,274,109 | ||||||
Glen Burnie Bancorp. |
6,872 | 84,869 | ||||||
Great Southern Bancorp. Inc. |
26,011 | 1,425,663 | ||||||
Guaranty Bancshares Inc./TX |
19,068 | 683,588 | ||||||
Hanmi Financial Corp. |
72,797 | 1,460,308 | ||||||
Harborone Bancorp. Inc. |
118,248 | 1,660,202 | ||||||
Hawthorn Bancshares Inc. |
14,043 | 325,236 | ||||||
HBT Financial Inc. |
24,594 | 382,437 | ||||||
Heritage Commerce Corp. |
138,834 | 1,614,639 | ||||||
HomeTrust Bancshares Inc. |
35,807 | 1,001,880 | ||||||
Horizon Bancorp Inc./IN |
101,966 | 1,852,722 | ||||||
Howard Bancorp. Inc.(a) |
30,874 | 626,125 | ||||||
Independent Bank Corp./MI |
50,207 | 1,078,446 | ||||||
Investar Holding Corp. |
23,440 | 516,149 | ||||||
Lakeland Bancorp. Inc. |
119,044 | 2,098,746 | ||||||
Landmark Bancorp. Inc./Manhattan KS |
9,624 | 266,489 | ||||||
LCNB Corp. |
29,276 | 516,429 | ||||||
Level One Bancorp. Inc. |
11,741 | 345,420 | ||||||
Limestone Bancorp. Inc.(a)(b) |
12,307 | 221,157 | ||||||
Macatawa Bank Corp. |
67,709 | 543,703 | ||||||
MainStreet Bancshares Inc.(a)(b) |
16,740 | 401,593 | ||||||
Malvern Bancorp. Inc.(a)(b) |
17,228 | 292,704 | ||||||
Mercantile Bank Corp. |
37,725 | 1,208,332 | ||||||
Meridian Corp. |
12,750 | 365,542 | ||||||
Metrocity Bankshares Inc. |
44,845 | 940,400 | ||||||
Metropolitan Bank Holding Corp.(a)(b) |
18,210 | 1,535,103 | ||||||
Mid Penn Bancorp. Inc. |
23,471 | 646,626 | ||||||
Middlefield Banc Corp. |
14,181 | 341,337 | ||||||
Midland States Bancorp. Inc. |
53,152 | 1,314,449 | ||||||
MidWestOne Financial Group Inc. |
35,920 | 1,083,347 | ||||||
MVB Financial Corp. |
23,480 | 1,005,648 | ||||||
National Bankshares Inc. |
14,924 | 541,890 | ||||||
Nicolet Bankshares Inc.(a) |
25,640 | 1,901,975 | ||||||
Northeast Bank |
17,662 | 595,563 | ||||||
Northrim Bancorp. Inc. |
14,630 | 621,921 | ||||||
Norwood Financial Corp. |
17,998 | 462,729 | ||||||
Oak Valley Bancorp. |
16,882 | 299,993 | ||||||
Ohio Valley Banc Corp. |
10,483 | 285,976 | ||||||
Old Point Financial Corp. |
9,453 | 202,672 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Old Second Bancorp. Inc. |
65,192 | $ | 851,408 | |||||
Orange County Bancorp Inc. |
2,857 | 100,395 | ||||||
Origin Bancorp Inc. |
52,198 | 2,210,585 | ||||||
Orrstown Financial Services Inc. |
26,357 | 616,754 | ||||||
Pacific Mercantile Bancorp.(a) |
45,393 | 418,070 | ||||||
Parke Bancorp. Inc. |
23,916 | 524,478 | ||||||
Partners Bancorp. |
20,259 | 167,542 | ||||||
Pathfinder Bancorp. Inc. |
7,991 | 130,253 | ||||||
Patriot National Bancorp Inc.(a) |
10,149 | 106,463 | ||||||
PCB Bancorp. |
27,969 | 556,863 | ||||||
Peapack Gladstone Financial Corp. |
42,778 | 1,427,074 | ||||||
Penns Woods Bancorp. Inc. |
16,561 | 393,489 | ||||||
Peoples Bancorp. Inc./OH |
61,705 | 1,950,495 | ||||||
Peoples Bancorp. of North Carolina Inc. |
10,563 | 299,884 | ||||||
Peoples Financial Services Corp. |
16,776 | 764,482 | ||||||
Plumas Bancorp. |
11,374 | 356,347 | ||||||
Preferred Bank/Los Angeles CA |
32,600 | 2,173,768 | ||||||
Primis Financial Corp. |
57,917 | 837,480 | ||||||
Professional Holding Corp., Class A(a) |
29,662 | 557,646 | ||||||
QCR Holdings Inc. |
36,564 | 1,880,852 | ||||||
RBB Bancorp. |
33,438 | 842,972 | ||||||
Red River Bancshares Inc. |
10,919 | 544,312 | ||||||
Reliant Bancorp Inc. |
35,927 | 1,134,934 | ||||||
Republic Bancorp. Inc./KY, Class A |
22,756 | 1,152,591 | ||||||
Republic First Bancorp. Inc.(a) |
106,420 | 327,774 | ||||||
Richmond Mutual Bancorp. Inc. |
26,239 | 416,938 | ||||||
Riverview Financial Corp.(a) |
21,297 | 280,694 | ||||||
Salisbury Bancorp. Inc. |
6,307 | 331,117 | ||||||
SB Financial Group Inc. |
15,631 | 282,921 | ||||||
Select Bancorp. Inc.(a) |
35,413 | 610,874 | ||||||
Shore Bancshares Inc. |
27,614 | 489,596 | ||||||
Sierra Bancorp |
33,812 | 820,955 | ||||||
SmartFinancial Inc. |
32,412 | 837,850 | ||||||
Sound Financial Bancorp. Inc.(b) |
5,117 | 230,265 | ||||||
South Plains Financial Inc. |
25,037 | 610,402 | ||||||
Southern First Bancshares Inc.(a) |
17,503 | 936,410 | ||||||
Southern States Bancshares Inc.(a)(b) |
4,942 | 94,244 | ||||||
Spirit of Texas Bancshares Inc. |
30,128 | 729,098 | ||||||
Stock Yards Bancorp. Inc. |
56,865 | 3,335,132 | ||||||
Summit Financial Group Inc. |
27,262 | 668,192 | ||||||
Summit State Bank |
11,280 | 223,344 | ||||||
TriState Capital Holdings Inc.(a)(b) |
68,277 | 1,444,059 | ||||||
U.S. Century Bank(a) |
9,014 | 109,791 | ||||||
Union Bankshares Inc./Morrisville VT |
9,553 | 305,314 | ||||||
United Bancorp. Inc./OH |
11,745 | 168,541 | ||||||
United Bancshares Inc./OH |
6,570 | 200,385 | ||||||
United Security Bancshares/Fresno CA |
33,743 | 269,944 | ||||||
Unity Bancorp. Inc. |
16,876 | 394,898 | ||||||
Univest Financial Corp. |
69,454 | 1,902,345 | ||||||
Village Bank and Trust Financial Corp.(a) |
1,684 | 86,979 | ||||||
Virginia National Bankshares Corp.(b) |
11,154 | 403,106 | ||||||
Washington Trust Bancorp. Inc. |
41,157 | 2,180,498 | ||||||
West Bancorp. Inc. |
38,336 | 1,151,230 | ||||||
|
|
|||||||
150,954,115 | ||||||||
Beverages — 0.1% | ||||||||
Alkaline Water Co. Inc. (The)(a)(b) |
198,925 | 316,291 | ||||||
NewAge Inc.(a)(b) |
315,435 | 438,455 | ||||||
Reed’s Inc.(a)(b) |
219,849 | 131,909 | ||||||
Willamette Valley Vineyards Inc.(a)(b) |
11,252 | 143,125 |
12 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Beverages (continued) | ||||||||
Zevia PBC, Class A(a)(b) |
22,815 | $ | 262,601 | |||||
|
|
|||||||
1,292,381 | ||||||||
Biotechnology — 16.7% | ||||||||
180 Life Sciences Corp.(a)(b) |
24,721 | 133,741 | ||||||
4D Molecular Therapeutics Inc.(a) |
49,415 | 1,332,723 | ||||||
89bio Inc.(a) |
22,932 | 449,238 | ||||||
Aadi Bioscience Inc.(a) |
6,750 | 198,259 | ||||||
Abeona Therapeutics Inc.(a)(b) |
202,902 | 227,250 | ||||||
Acorda Therapeutics Inc.(a)(b) |
21,732 | 99,967 | ||||||
Actinium Pharmaceuticals Inc.(a)(b) |
45,510 | 403,219 | ||||||
Acumen Pharmaceuticals Inc.(a) |
22,203 | 329,937 | ||||||
Acurx Pharmaceuticals Inc.(a)(b) |
5,868 | 30,162 | ||||||
Adamas Pharmaceuticals Inc.(a) |
93,285 | 458,029 | ||||||
Adicet Bio Inc.(a) |
49,234 | 385,995 | ||||||
Aditx Therapeutics Inc.(a)(b) |
30,374 | 51,332 | ||||||
ADMA Biologics Inc.(a)(b) |
283,524 | 320,382 | ||||||
Adverum Biotechnologies Inc.(a) |
204,172 | 443,053 | ||||||
Aeglea BioTherapeutics Inc.(a) |
94,978 | 755,075 | ||||||
Aerovate Therapeutics Inc.(a) |
23,911 | 501,653 | ||||||
Affimed NV(a) |
275,125 | 1,700,273 | ||||||
Agenus Inc.(a)(b) |
487,250 | 2,558,063 | ||||||
AgeX Therapeutics Inc.(a) |
58,894 | 55,360 | ||||||
Aileron Therapeutics Inc.(a)(b) |
179,548 | 183,139 | ||||||
AIM ImmunoTech Inc.(a)(b) |
114,024 | 230,328 | ||||||
Akebia Therapeutics Inc.(a) |
413,719 | 1,191,511 | ||||||
Akero Therapeutics Inc.(a)(b) |
60,353 | 1,348,890 | ||||||
Akouos Inc.(a)(b) |
56,478 | 655,710 | ||||||
Albireo Pharma Inc.(a) |
39,668 | 1,237,642 | ||||||
Aldeyra Therapeutics Inc.(a) |
113,984 | 1,000,780 | ||||||
Aligos Therapeutics Inc.(a)(b) |
49,420 | 766,504 | ||||||
Allena Pharmaceuticals Inc.(a)(b) |
126,284 | 113,933 | ||||||
Alpine Immune Sciences Inc.(a)(b) |
28,339 | 302,377 | ||||||
Altimmune Inc.(a) |
94,017 | 1,063,332 | ||||||
AnaptysBio Inc.(a)(b) |
45,271 | 1,227,750 | ||||||
Anavex Life Sciences Corp.(a)(b) |
151,456 | 2,718,635 | ||||||
Anika Therapeutics Inc.(a) |
33,994 | 1,446,785 | ||||||
Anixa Biosciences Inc.(a)(b) |
64,604 | 308,161 | ||||||
Annexon Inc.(a)(b) |
73,272 | 1,363,592 | ||||||
Annovis Bio Inc.(a)(b) |
12,314 | 390,970 | ||||||
Applied Genetic Technologies Corp./DE(a)(b) |
101,328 | 304,997 | ||||||
Applied Therapeutics Inc.(a) |
41,686 | 691,988 | ||||||
Aprea Therapeutics Inc.(a)(b) |
40,633 | 207,635 | ||||||
Aptevo Therapeutics Inc.(a)(b) |
5,933 | 91,606 | ||||||
Aptinyx Inc., Class A(a) |
106,081 | 248,230 | ||||||
AquaBounty Technologies Inc.(a)(b) |
123,218 | 501,497 | ||||||
Aravive Inc.(a) |
36,175 | 134,571 | ||||||
Arbutus Biopharma Corp.(a) |
188,366 | 808,090 | ||||||
ARCA biopharma Inc.(a)(b) |
35,607 | 105,397 | ||||||
Arcturus Therapeutics Holdings Inc.(a)(b) |
49,958 | 2,386,993 | ||||||
Ardelyx Inc.(a)(b) |
211,088 | 278,636 | ||||||
Aridis Pharmaceuticals Inc.(a) |
23,543 | 86,638 | ||||||
Armata Pharmaceuticals Inc.(a) |
18,570 | 67,223 | ||||||
Assembly Biosciences Inc.(a) |
94,975 | 330,513 | ||||||
Astria Therapeutics Inc.(a) |
9,250 | 81,770 | ||||||
Athenex Inc.(a) |
203,368 | 612,138 | ||||||
Athersys Inc.(a)(b) |
481,115 | 639,883 | ||||||
Atossa Therapeutics Inc.(a)(b) |
274,590 | 895,163 | ||||||
Atreca Inc., Class A(a)(b) |
61,205 | 381,307 | ||||||
aTyr Pharma Inc.(a) |
37,060 | 336,505 | ||||||
AVEO Pharmaceuticals Inc.(a)(b) |
71,694 | 443,069 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Avid Bioservices Inc.(a)(b) |
142,492 | $ | 3,073,552 | |||||
Avidity Biosciences Inc.(a) |
89,147 | 2,195,691 | ||||||
Avita Medical Inc.(a) |
57,015 | 1,010,306 | ||||||
Avrobio Inc.(a) |
90,439 | 504,650 | ||||||
Axcella Health Inc.(a)(b) |
48,142 | 143,463 | ||||||
Aziyo Biologics Inc., Class A(a) |
6,041 | 42,710 | ||||||
Benitec Biopharma Inc.(a)(b) |
18,281 | 65,263 | ||||||
Beyondspring Inc.(a) |
52,592 | 828,850 | ||||||
BioCardia Inc.(a)(b) |
32,488 | 102,012 | ||||||
Biocept Inc.(a) |
34,803 | 139,560 | ||||||
Biomea Fusion Inc.(a)(b) |
21,028 | 251,705 | ||||||
Bio-Path Holdings Inc.(a) |
18,252 | 93,633 | ||||||
BioVie Inc.(a)(b) |
5,875 | 39,539 | ||||||
Bioxcel Therapeutics Inc.(a)(b) |
41,009 | 1,244,623 | ||||||
Bolt Biotherapeutics Inc.(a)(b) |
53,410 | 675,637 | ||||||
BrainStorm Cell Therapeutics Inc.(a) |
74,416 | 245,573 | ||||||
Cabaletta Bio Inc.(a) |
38,807 | 471,893 | ||||||
Caladrius Biosciences Inc.(a) |
140,788 | 171,761 | ||||||
Calithera Biosciences Inc.(a)(b) |
163,765 | 357,008 | ||||||
Calyxt Inc.(a)(b) |
34,134 | 115,032 | ||||||
Candel Therapeutics Inc.(a)(b) |
20,729 | 224,702 | ||||||
Capricor Therapeutics Inc.(a)(b) |
50,166 | 201,667 | ||||||
Cardiff Oncology Inc.(a) |
89,845 | 598,368 | ||||||
CASI Pharmaceuticals Inc.(a)(b) |
255,600 | 304,164 | ||||||
Catalyst Biosciences Inc.(a)(b) |
74,093 | 304,522 | ||||||
Catalyst Pharmaceuticals Inc.(a)(b) |
228,259 | 1,209,773 | ||||||
Celcuity Inc.(a) |
22,446 | 404,028 | ||||||
Celldex Therapeutics Inc.(a) |
108,530 | 5,859,535 | ||||||
Cellectar Biosciences Inc.(a) |
134,433 | 124,351 | ||||||
CEL-SCI Corp.(a)(b) |
84,374 | 927,270 | ||||||
Celsion Corp.(a)(b) |
197,396 | 182,473 | ||||||
Checkmate Pharmaceuticals Inc.(a) |
19,944 | 79,178 | ||||||
Checkpoint Therapeutics Inc.(a)(b) |
151,307 | 499,313 | ||||||
ChemoCentryx Inc.(a) |
127,782 | 2,185,072 | ||||||
Chimerix Inc.(a) |
171,270 | 1,060,161 | ||||||
Chinook Therapeutics Inc.(a) |
78,606 | 1,003,013 | ||||||
Cidara Therapeutics Inc.(a)(b) |
104,426 | 233,914 | ||||||
Clene Inc.(a)(b) |
46,247 | 315,867 | ||||||
Clovis Oncology Inc.(a)(b) |
264,575 | 1,180,005 | ||||||
Codiak Biosciences Inc.(a)(b) |
37,340 | 609,762 | ||||||
Cogent Biosciences Inc.(a) |
87,325 | 734,403 | ||||||
Cohbar Inc.(a)(b) |
100,942 | 96,904 | ||||||
Concert Pharmaceuticals Inc.(a)(b) |
73,752 | 241,169 | ||||||
ContraFect Corp.(a)(b) |
93,084 | 376,990 | ||||||
Corbus Pharmaceuticals Holdings Inc.(a)(b) |
282,200 | 287,844 | ||||||
Corvus Pharmaceuticals Inc.(a)(b) |
66,862 | 323,612 | ||||||
Crinetics Pharmaceuticals Inc.(a) |
87,887 | 1,850,021 | ||||||
CTI BioPharma Corp.(a)(b) |
203,688 | 600,880 | ||||||
Cue Biopharma Inc.(a)(b) |
72,237 | 1,052,493 | ||||||
Curis Inc.(a)(b) |
203,339 | 1,592,144 | ||||||
Cyclacel Pharmaceuticals Inc.(a)(b) |
23,862 | 125,753 | ||||||
Cyclerion Therapeutics Inc.(a) |
72,210 | 221,685 | ||||||
Cyclo Therapeutics Inc.(a) |
12,322 | 83,174 | ||||||
CytomX Therapeutics Inc.(a)(b) |
152,675 | 777,116 | ||||||
Decibel Therapeutics Inc.(a)(b) |
32,633 | 251,600 | ||||||
Dermtech Inc.(a)(b) |
56,995 | 1,830,109 | ||||||
DiaMedica Therapeutics Inc.(a) |
43,818 | 175,710 | ||||||
Dyadic International Inc.(a)(b) |
46,842 | 260,442 | ||||||
Dynavax Technologies Corp.(a)(b) |
254,135 | 4,881,933 | ||||||
Eagle Pharmaceuticals Inc./DE(a)(b) |
27,612 | 1,540,197 |
S C H E D U L E O F I N V E S T M E N T S |
13 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Eiger BioPharmaceuticals Inc.(a) |
75,159 | $ | 502,062 | |||||
Eledon Pharmaceuticals Inc.(a)(b) |
32,248 | 199,293 | ||||||
Elevation Oncology Inc.(a)(b) |
15,553 | 121,158 | ||||||
Eliem Therapeutics Inc.(a) |
16,358 | 294,117 | ||||||
Enochian Biosciences Inc.(a)(b) |
37,184 | 250,248 | ||||||
Entasis Therapeutics Holdings Inc.(a) |
24,440 | 81,630 | ||||||
Epizyme Inc.(a)(b) |
210,903 | 1,079,823 | ||||||
Equillium Inc.(a)(b) |
30,679 | 209,231 | ||||||
Evelo Biosciences Inc.(a)(b) |
71,380 | 502,515 | ||||||
Exicure Inc.(a)(b) |
141,932 | 170,318 | ||||||
Fennec Pharmaceuticals Inc.(a)(b) |
41,840 | 394,133 | ||||||
Finch Therapeutics Group Inc.(a)(b) |
18,568 | 241,384 | ||||||
Flexion Therapeutics Inc.(a) |
112,961 | 689,062 | ||||||
Foghorn Therapeutics Inc.(a)(b) |
45,930 | 639,805 | ||||||
Forte Biosciences Inc.(a)(b) |
28,115 | 83,220 | ||||||
Fortress Biotech Inc.(a) |
168,226 | 541,688 | ||||||
Frequency Therapeutics Inc.(a)(b) |
75,269 | 531,399 | ||||||
G1 Therapeutics Inc.(a) |
92,983 | 1,247,832 | ||||||
Gain Therapeutics Inc.(a)(b) |
10,057 | 74,874 | ||||||
Galectin Therapeutics Inc.(a) |
89,214 | 346,150 | ||||||
Galera Therapeutics Inc.(a)(b) |
34,015 | 275,522 | ||||||
Gemini Therapeutics Inc.(a)(b) |
54,095 | 218,544 | ||||||
Genocea Biosciences Inc.(a)(b) |
98,144 | 188,436 | ||||||
Genprex Inc.(a)(b) |
107,093 | 287,009 | ||||||
GeoVax Labs Inc.(a)(b) |
16,619 | 71,794 | ||||||
Geron Corp.(a)(b) |
708,348 | 970,437 | ||||||
GlycoMimetics Inc.(a)(b) |
98,888 | 216,565 | ||||||
Gossamer Bio Inc.(a) |
145,981 | 1,834,981 | ||||||
Graphite Bio Inc.(a)(b) |
37,954 | 622,066 | ||||||
Greenwich Lifesciences Inc.(a)(b) |
9,674 | 377,963 | ||||||
Gritstone bio Inc.(a) |
94,805 | 1,023,894 | ||||||
GT Biopharma Inc.(a) |
41,627 | 280,566 | ||||||
Harpoon Therapeutics Inc.(a) |
43,931 | 347,055 | ||||||
HCW Biologics Inc.(a)(b) |
15,099 | 48,166 | ||||||
Heat Biologics Inc.(a)(b) |
57,313 | 341,012 | ||||||
Homology Medicines Inc.(a)(b) |
98,429 | 774,636 | ||||||
Hookipa Pharma Inc.(a) |
44,888 | 264,390 | ||||||
Humanigen Inc.(a)(b) |
106,718 | 632,838 | ||||||
iBio Inc.(a)(b) |
506,717 | 537,120 | ||||||
Icosavax Inc.(a)(b) |
31,740 | 939,187 | ||||||
Ideaya Biosciences Inc.(a) |
77,308 | 1,970,581 | ||||||
Idera Pharmaceuticals Inc.(a)(b) |
110,282 | 113,590 | ||||||
Imago Biosciences Inc.(a) |
22,637 | 453,419 | ||||||
Immucell Corp.(a) |
12,963 | 119,778 | ||||||
Immuneering Corp., Class A(a) |
19,648 | 521,654 | ||||||
Immunic Inc.(a) |
43,514 | 385,099 | ||||||
ImmunoGen Inc.(a) |
468,541 | 2,656,627 | ||||||
Immunome Inc.(a)(b) |
20,624 | 502,194 | ||||||
Impel Neuropharma Inc.(a)(b) |
12,595 | 153,407 | ||||||
IN8bio Inc.(a) |
8,640 | 59,616 | ||||||
Infinity Pharmaceuticals Inc.(a)(b) |
205,101 | 701,445 | ||||||
Inhibikase Therapeutics Inc.(a)(b) |
42,512 | 80,773 | ||||||
Inhibrx Inc.(a) |
65,925 | 2,195,962 | ||||||
Inmune Bio Inc.(a)(b) |
21,545 | 418,404 | ||||||
Inozyme Pharma Inc.(a) |
33,845 | 392,264 | ||||||
Intercept Pharmaceuticals Inc.(a)(b) |
65,930 | 979,061 | ||||||
iTeos Therapeutics Inc.(a) |
47,436 | 1,280,772 | ||||||
IVERIC bio Inc.(a)(b) |
246,349 | 4,000,708 | ||||||
Janux Therapeutics Inc.(a)(b) |
31,453 | 680,328 | ||||||
Jounce Therapeutics Inc.(a) |
77,590 | 576,494 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Kadmon Holdings Inc.(a)(b) |
409,306 | $ | 3,565,055 | |||||
KalVista Pharmaceuticals Inc.(a)(b) |
46,768 | 816,102 | ||||||
Karyopharm Therapeutics Inc.(a)(b) |
169,041 | 983,819 | ||||||
Keros Therapeutics Inc.(a) |
36,683 | 1,451,180 | ||||||
Kezar Life Sciences Inc.(a) |
80,276 | 693,585 | ||||||
Kintara Therapeutics Inc.(a) |
68,281 | 58,735 | ||||||
Kiromic BioPharma Inc.(a)(b) |
28,411 | 87,222 | ||||||
La Jolla Pharmaceutical Co.(a)(b) |
40,178 | 160,310 | ||||||
Lantern Pharma Inc.(a)(b) |
18,068 | 202,000 | ||||||
Larimar Therapeutics Inc.(a) |
26,041 | 300,253 | ||||||
Leap Therapeutics Inc.(a)(b) |
93,492 | 374,903 | ||||||
Lexicon Pharmaceuticals Inc.(a)(b) |
159,414 | 766,781 | ||||||
Lineage Cell Therapeutics Inc.(a) |
296,767 | 747,853 | ||||||
Lixte Biotechnology Holdings Inc.(a)(b) |
13,122 | 27,294 | ||||||
LogicBio Therapeutics Inc.(a)(b) |
50,799 | 232,659 | ||||||
Lumos Pharma Inc.(a)(b) |
15,100 | 143,601 | ||||||
Magenta Therapeutics Inc.(a) |
70,235 | 511,311 | ||||||
MannKind Corp.(a) |
583,258 | 2,537,172 | ||||||
Marker Therapeutics Inc.(a) |
144,742 | 244,614 | ||||||
MediciNova Inc.(a) |
110,049 | 417,086 | ||||||
MEI Pharma Inc.(a)(b) |
254,814 | 703,287 | ||||||
MeiraGTx Holdings PLC(a) |
69,908 | 921,387 | ||||||
Merrimack Pharmaceuticals Inc.(a) |
23,642 | 114,191 | ||||||
Mersana Therapeutics Inc.(a) |
168,459 | 1,588,568 | ||||||
Metacrine Inc.(a) |
37,212 | 127,637 | ||||||
MiMedx Group Inc.(a)(b) |
260,980 | 1,581,539 | ||||||
Minerva Neurosciences Inc.(a)(b) |
81,266 | 141,403 | ||||||
Mirum Pharmaceuticals Inc.(a)(b) |
8,844 | 176,172 | ||||||
Molecular Templates Inc.(a)(b) |
86,787 | 582,341 | ||||||
Moleculin Biotech Inc.(a)(b) |
65,058 | 195,174 | ||||||
Monopar Therapeutics Inc.(a)(b) |
10,854 | 52,533 | ||||||
Mustang Bio Inc.(a)(b) |
163,467 | 439,726 | ||||||
NanoViricides Inc.(a)(b) |
24,416 | 113,290 | ||||||
Navidea Biopharmaceuticals Inc.(a) |
55,875 | 97,781 | ||||||
Neoleukin Therapeutics Inc.(a) |
82,843 | 598,955 | ||||||
NeuBase Therapeutics Inc.(a)(b) |
62,355 | 225,102 | ||||||
NeuroBo Pharmaceuticals Inc.(a)(b) |
21,420 | 79,682 | ||||||
NexImmune Inc.(a) |
41,838 | 633,427 | ||||||
NextCure Inc.(a) |
43,948 | 296,210 | ||||||
Nkarta Inc.(a)(b) |
33,171 | 922,486 | ||||||
Nuvalent Inc., Class A(a)(b) |
25,015 | 564,088 | ||||||
Nymox Pharmaceutical Corp.(a)(b) |
108,357 | 223,215 | ||||||
Olema Pharmaceuticals Inc.(a) |
59,617 | 1,643,045 | ||||||
Omega Therapeutics Inc.(a)(b) |
17,639 | 332,495 | ||||||
Oncocyte Corp.(a) |
141,234 | 502,793 | ||||||
Oncorus Inc.(a) |
48,011 | 448,423 | ||||||
OncoSec Medical Inc.(a)(b) |
60,779 | 129,459 | ||||||
Oncternal Therapeutics Inc.(a) |
103,701 | 432,433 | ||||||
Oncternal Therapeutics Inc. New(b)(c) |
1,634 | 1,675 | ||||||
OpGen Inc.(a)(b) |
89,921 | 258,972 | ||||||
Organovo Holdings Inc.(a) |
20,568 | 139,862 | ||||||
Orgenesis Inc.(a)(b) |
52,605 | 260,395 | ||||||
ORIC Pharmaceuticals Inc.(a)(b) |
74,903 | 1,566,222 | ||||||
Outlook Therapeutics Inc.(a) |
213,101 | 462,429 | ||||||
Ovid therapeutics Inc.(a)(b) |
133,768 | 449,460 | ||||||
Oyster Point Pharma Inc.(a)(b) |
26,211 | 310,600 | ||||||
Panbela Therapeutics Inc.(a)(b) |
27,697 | 60,103 | ||||||
PDS Biotechnology Corp.(a)(b) |
55,131 | 821,452 | ||||||
PhaseBio Pharmaceuticals Inc.(a) |
84,130 | 261,644 | ||||||
Phio Pharmaceuticals Corp.(a)(b) |
32,572 | 65,795 |
14 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Pieris Pharmaceuticals Inc.(a) |
123,386 | $ | 637,906 | |||||
Plus Therapeutics Inc.(a) |
29,347 | 56,053 | ||||||
Portage Biotech Inc.(a) |
11,904 | 241,889 | ||||||
Poseida Therapeutics Inc.(a)(b) |
67,551 | 492,447 | ||||||
Precision BioSciences Inc.(a)(b) |
117,392 | 1,354,704 | ||||||
Prometheus Biosciences Inc.(a)(b) |
26,589 | 630,425 | ||||||
Protagonist Therapeutics Inc.(a) |
105,064 | 1,861,734 | ||||||
Protalix BioTherapeutics Inc.(a)(b) |
103,131 | 137,164 | ||||||
Protara Therapeutics Inc.(a)(b) |
25,444 | 176,072 | ||||||
Proteostasis Therapeutics Inc.(b)(c) |
128,549 | 13,883 | ||||||
Prothena Corp. PLC(a) |
82,534 | 5,878,897 | ||||||
Puma Biotechnology Inc.(a) |
75,911 | 532,136 | ||||||
Qualigen Therapeutics Inc.(a)(b) |
70,957 | 92,244 | ||||||
Rallybio Corp.(a)(b) |
17,106 | 300,723 | ||||||
RAPT Therapeutics Inc.(a) |
50,463 | 1,566,876 | ||||||
Reneo Pharmaceuticals Inc.(a) |
15,448 | 115,088 | ||||||
Rezolute Inc.(a) |
11,237 | 83,379 | ||||||
Rigel Pharmaceuticals Inc.(a)(b) |
401,108 | 1,456,022 | ||||||
Salarius Pharmaceuticals Inc.(a)(b) |
105,749 | 107,864 | ||||||
Savara Inc.(a)(b) |
181,584 | 250,586 | ||||||
Scholar Rock Holding Corp.(a)(b) |
65,453 | 2,161,258 | ||||||
Scopus Biopharma Inc.(a) |
17,750 | 73,663 | ||||||
Selecta Biosciences Inc.(a) |
212,977 | 885,984 | ||||||
SELLAS Life Sciences Group Inc.(a) |
37,818 | 346,413 | ||||||
Sensei Biotherapeutics Inc.(a)(b) |
49,417 | 519,867 | ||||||
Sera Prognostics Inc., Class A(a)(b) |
11,009 | 122,310 | ||||||
Sesen Bio Inc.(a)(b) |
462,769 | 367,068 | ||||||
Sierra Oncology Inc.(a) |
15,239 | 334,039 | ||||||
Sigilon Therapeutics Inc.(a) |
34,794 | 196,586 | ||||||
Sio Gene Therapies Inc.(a) |
121,128 | 262,848 | ||||||
Soleno Therapeutics Inc.(a) |
116,378 | 107,591 | ||||||
Solid Biosciences Inc.(a)(b) |
139,806 | 334,136 | ||||||
Soligenix Inc.(a)(b) |
91,762 | 97,268 | ||||||
Spectrum Pharmaceuticals Inc.(a)(b) |
383,796 | 836,675 | ||||||
Spero Therapeutics Inc.(a)(b) |
56,723 | 1,044,270 | ||||||
Spruce Biosciences Inc.(a)(b) |
21,469 | 129,029 | ||||||
SQZ Biotechnologies Co.(a)(b) |
53,509 | 771,600 | ||||||
Statera Biopharma Inc.(a)(b) |
17,182 | 39,690 | ||||||
Summit Therapeutics Inc.(a) |
61,175 | 306,487 | ||||||
Surface Oncology Inc.(a) |
83,133 | 629,317 | ||||||
Sutro Biopharma Inc.(a)(b) |
102,805 | 1,941,986 | ||||||
Syndax Pharmaceuticals Inc.(a)(b) |
105,634 | 2,018,666 | ||||||
Synlogic Inc.(a) |
77,177 | 235,390 | ||||||
Syros Pharmaceuticals Inc.(a)(b) |
135,118 | 603,977 | ||||||
T2 Biosystems Inc.(a)(b) |
334,450 | 306,089 | ||||||
Talaris Therapeutics Inc.(a)(b) |
21,695 | 294,184 | ||||||
Taysha Gene Therapies Inc.(a)(b) |
52,265 | 973,174 | ||||||
TCR2 Therapeutics Inc.(a) |
71,694 | 610,116 | ||||||
Tenax Therapeutics Inc.(a)(b) |
30,215 | 53,481 | ||||||
Tenaya Therapeutics Inc.(a) |
33,071 | 682,916 | ||||||
Tonix Pharmaceuticals Holding Corp.(a) |
844,348 | 507,538 | ||||||
Tracon Pharmaceuticals Inc.(a) |
35,968 | 139,196 | ||||||
TransCode Therapeutics Inc.(a)(b) |
14,981 | 44,793 | ||||||
Trevena Inc.(a)(b) |
384,236 | 472,610 | ||||||
Trillium Therapeutics Inc.(a)(b) |
234,293 | 4,114,185 | ||||||
TScan Therapeutics Inc., NVS(a)(b) |
14,172 | 118,194 | ||||||
Tyme Technologies Inc.(a)(b) |
160,164 | 164,969 | ||||||
Unicycive Therapeutics Inc.(a)(b) |
10,142 | 28,702 | ||||||
UNITY Biotechnology Inc.(a) |
100,005 | 300,015 | ||||||
UroGen Pharma Ltd.(a)(b) |
45,821 | 770,709 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Vaccinex Inc.(a)(b) |
42,398 | $ | 91,580 | |||||
Vanda Pharmaceuticals Inc.(a)(b) |
129,830 | 2,225,286 | ||||||
Vaxart Inc.(a)(b) |
280,694 | 2,231,517 | ||||||
Vaxcyte Inc.(a) |
94,930 | 2,408,374 | ||||||
VBI Vaccines Inc.(a)(b) |
437,204 | 1,359,704 | ||||||
Vera Therapeutics Inc.(a) |
16,252 | 281,972 | ||||||
Verastem Inc.(a)(b) |
404,675 | 1,246,399 | ||||||
Viking Therapeutics Inc.(a)(b) |
160,422 | 1,007,450 | ||||||
Vincerx Pharma Inc.(a) |
30,234 | 488,884 | ||||||
Viracta Therapeutics Inc.(a)(b) |
85,299 | 684,098 | ||||||
Viridian Therapeutics Inc.(a) |
20,556 | 338,146 | ||||||
Virios Therapeutics Inc.(a)(b) |
14,517 | 76,795 | ||||||
VistaGen Therapeutics Inc.(a) |
455,196 | 1,247,237 | ||||||
Vor BioPharma Inc.(a)(b) |
45,117 | 707,435 | ||||||
Voyager Therapeutics Inc.(a)(b) |
65,194 | 171,460 | ||||||
vTv Therapeutics Inc., Class A(a)(b) |
53,471 | 81,811 | ||||||
Vyant Bio Inc.(a)(b) |
72,590 | 169,135 | ||||||
Werewolf Therapeutics Inc.(a) |
18,282 | 313,719 | ||||||
Windtree Therapeutics Inc.(a)(b) |
45,648 | 94,035 | ||||||
X4 Pharmaceuticals Inc.(a) |
55,858 | 295,489 | ||||||
XBiotech Inc. |
35,673 | 461,965 | ||||||
XOMA Corp.(a)(b) |
14,208 | 351,648 | ||||||
Yield10 Bioscience Inc.(a) |
10,015 | 60,791 | ||||||
Yumanity Therapeutics Inc.(a)(b) |
21,663 | 223,562 | ||||||
ZIOPHARM Oncology Inc.(a)(b) |
492,828 | 896,947 | ||||||
|
|
|||||||
209,191,182 | ||||||||
Building Products — 0.4% | ||||||||
Alpha Pro Tech Ltd.(a)(b) |
27,945 | 188,070 | ||||||
Applied UV Inc.(a)(b) |
10,274 | 72,945 | ||||||
Armstrong Flooring Inc.(a)(b) |
50,609 | 158,406 | ||||||
Caesarstone Ltd. |
53,163 | 660,285 | ||||||
Insteel Industries Inc. |
44,111 | 1,678,424 | ||||||
Jewett-Cameron Trading Co. Ltd.(a) |
6,917 | 81,482 | ||||||
Quanex Building Products Corp. |
80,057 | 1,714,020 | ||||||
|
|
|||||||
4,553,632 | ||||||||
Capital Markets — 1.2% | ||||||||
Ashford Inc.(a) |
2,557 | 37,204 | ||||||
Associated Capital Group Inc., Class A |
4,197 | 157,010 | ||||||
Blucora Inc.(a) |
115,441 | 1,799,725 | ||||||
Cohen & Co. Inc. |
1,629 | 31,472 | ||||||
Cowen Inc., Class A |
66,314 | 2,275,233 | ||||||
Diamond Hill Investment Group Inc. |
7,214 | 1,267,211 | ||||||
Donnelley Financial Solutions Inc.(a) |
69,546 | 2,407,683 | ||||||
GAMCO Investors Inc., Class A |
12,112 | 319,515 | ||||||
Greenhill & Co. Inc. |
33,986 | 496,875 | ||||||
Hennessy Advisors Inc. |
10,976 | 105,589 | ||||||
Heritage Global Inc.(a)(b) |
54,484 | 106,789 | ||||||
Manning & Napier Inc. |
32,610 | 297,729 | ||||||
Oppenheimer Holdings Inc., Class A, NVS |
22,148 | 1,003,083 | ||||||
Pzena Investment Management Inc., Class A |
41,181 | 405,221 | ||||||
Safeguard Scientifics Inc.(a) |
47,533 | 422,093 | ||||||
Siebert Financial Corp.(a) |
30,613 | 102,554 | ||||||
Silvercrest Asset Management Group Inc., Class A |
23,345 | 363,715 | ||||||
StoneX Group Inc.(a) |
39,861 | 2,626,840 | ||||||
Value Line Inc. |
2,454 | 84,074 | ||||||
Westwood Holdings Group Inc. |
17,712 | 336,528 | ||||||
|
|
|||||||
14,646,143 | ||||||||
Chemicals — 1.0% | ||||||||
Advanced Emissions Solutions Inc.(a) |
39,667 | 253,472 |
S C H E D U L E O F I N V E S T M E N T S |
15 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Chemicals (continued) | ||||||||
AdvanSix Inc.(a) |
64,448 | $ | 2,561,808 | |||||
AgroFresh Solutions Inc.(a) |
66,397 | 143,418 | ||||||
American Vanguard Corp. |
68,938 | 1,037,517 | ||||||
Core Molding Technologies Inc.(a) |
18,262 | 210,196 | ||||||
Crown ElectroKinetics Corp.(a)(b) |
17,259 | 69,036 | ||||||
Flexible Solutions International Inc.(a) |
18,392 | 66,211 | ||||||
Flotek Industries Inc.(a)(b) |
159,011 | 200,354 | ||||||
FutureFuel Corp. |
66,653 | 475,236 | ||||||
Hawkins Inc. |
45,234 | 1,577,762 | ||||||
Intrepid Potash Inc.(a)(b) |
23,380 | 722,442 | ||||||
Koppers Holdings Inc.(a) |
49,602 | 1,550,558 | ||||||
LSB Industries Inc.(a) |
47,435 | 484,311 | ||||||
Marrone Bio Innovations Inc.(a)(b) |
244,345 | 220,155 | ||||||
Northern Technologies International Corp. |
18,100 | 276,025 | ||||||
Rayonier Advanced Materials Inc.(a) |
145,159 | 1,088,692 | ||||||
Trecora Resources(a)(b) |
55,150 | 451,127 | ||||||
Tredegar Corp. |
62,203 | 757,633 | ||||||
Valhi Inc. |
6,080 | 141,846 | ||||||
|
|
|||||||
12,287,799 | ||||||||
Commercial Services & Supplies — 1.6% | ||||||||
ACCO Brands Corp. |
222,197 | 1,908,672 | ||||||
Acme United Corp. |
5,340 | 174,832 | ||||||
Aqua Metals Inc.(a)(b) |
160,838 | 332,935 | ||||||
ARC Document Solutions Inc. |
85,852 | 253,263 | ||||||
BioHiTech Global Inc.(a)(b) |
44,129 | 60,898 | ||||||
CECO Environmental Corp.(a) |
73,147 | 514,955 | ||||||
Charah Solutions Inc.(a)(b) |
35,026 | 161,120 | ||||||
CompX International Inc. |
3,842 | 79,837 | ||||||
Document Security Systems Inc.(a)(b) |
131,301 | 169,378 | ||||||
Ennis Inc. |
61,586 | 1,160,896 | ||||||
Fuel Tech Inc.(a) |
59,483 | 103,500 | ||||||
Heritage-Crystal Clean Inc.(a) |
36,754 | 1,065,131 | ||||||
Interface Inc. |
137,752 | 2,086,943 | ||||||
Kimball International Inc., Class B |
86,415 | 967,848 | ||||||
Montrose Environmental Group Inc.(a)(b) |
54,586 | 3,370,140 | ||||||
NL Industries Inc. |
20,004 | 115,223 | ||||||
Odyssey Marine Exploration Inc.(a) |
28,606 | 200,242 | ||||||
Performant Financial Corp.(a) |
88,019 | 348,555 | ||||||
Perma-Fix Environmental Services Inc.(a) |
25,552 | 169,921 | ||||||
Quad/Graphics Inc.(a) |
80,606 | 342,575 | ||||||
Quest Resource Holding Corp.(a) |
37,670 | 229,033 | ||||||
RR Donnelley & Sons Co.(a) |
166,857 | 857,645 | ||||||
SP Plus Corp.(a) |
54,892 | 1,683,538 | ||||||
Team Inc.(a) |
62,167 | 187,123 | ||||||
TOMI Environmental Solutions Inc.(a)(b) |
28,576 | 39,006 | ||||||
Viad Corp.(a) |
48,226 | 2,189,943 | ||||||
Vidler Water Resouces Inc.(a) |
38,753 | 441,009 | ||||||
Virco Mfg. Corp.(a) |
25,432 | 87,740 | ||||||
VSE Corp. |
24,964 | 1,202,516 | ||||||
|
|
|||||||
20,504,417 | ||||||||
Communications Equipment — 1.3% | ||||||||
Applied Optoelectronics Inc.(a)(b) |
61,959 | 444,866 | ||||||
Aviat Networks Inc.(a)(b) |
22,665 | 744,772 | ||||||
BK Technologies Corp. |
29,515 | 83,380 | ||||||
CalAmp Corp.(a) |
81,322 | 809,154 | ||||||
Cambium Networks Corp.(a) |
25,293 | 915,354 | ||||||
Casa Systems Inc.(a) |
73,882 | 500,920 | ||||||
Clearfield Inc.(a)(b) |
26,761 | 1,181,498 | ||||||
ClearOne Inc.(a)(b) |
20,227 | 47,736 |
Security | Shares | Value | ||||||
Communications Equipment (continued) | ||||||||
Communications Systems Inc.(a) |
17,176 | $ | 148,572 | |||||
ComSovereign Holding Corp.(a)(b) |
121,397 | 195,449 | ||||||
Comtech Telecommunications Corp. |
60,093 | 1,538,982 | ||||||
Digi International Inc.(a)(b) |
79,259 | 1,666,024 | ||||||
DZS Inc.(a) |
39,447 | 483,620 | ||||||
EMCORE Corp.(a) |
85,631 | 640,520 | ||||||
Franklin Wireless Corp.(a)(b) |
15,904 | 115,622 | ||||||
Genasys Inc.(a)(b) |
78,386 | 406,040 | ||||||
Harmonic Inc.(a)(b) |
209,636 | 1,834,315 | ||||||
Inseego Corp.(a)(b) |
195,852 | 1,304,374 | ||||||
KVH Industries Inc.(a)(b) |
35,684 | 343,637 | ||||||
Lantronix Inc.(a) |
51,715 | 300,981 | ||||||
Network-1 Technologies Inc. |
29,936 | 88,811 | ||||||
Ondas Holdings Inc.(a)(b) |
58,019 | 531,454 | ||||||
PCTEL Inc. |
42,681 | 265,476 | ||||||
Resonant Inc.(a)(b) |
134,076 | 324,464 | ||||||
Ribbon Communications Inc.(a)(b) |
165,310 | 988,554 | ||||||
TESSCO Technologies Inc.(a) |
17,002 | 94,871 | ||||||
Vislink Technologies Inc.(a)(b) |
109,656 | 198,477 | ||||||
|
|
|||||||
16,197,923 | ||||||||
Construction & Engineering — 1.5% | ||||||||
Argan Inc. |
35,247 | 1,539,237 | ||||||
Bowman Consulting Group Ltd.(a)(b) |
8,678 | 119,323 | ||||||
Concrete Pumping Holdings Inc.(a)(b) |
60,448 | 516,226 | ||||||
Great Lakes Dredge & Dock Corp.(a)(b) |
151,913 | 2,292,367 | ||||||
IES Holdings Inc.(a) |
20,286 | 926,867 | ||||||
Infrastructure and Energy Alternatives Inc.(a)(b) |
64,279 | 734,709 | ||||||
INNOVATE Corp.(a)(b) |
111,428 | 456,855 | ||||||
iSun Inc.(a) |
17,051 | 141,523 | ||||||
Limbach Holdings Inc.(a) |
22,897 | 151,578 | ||||||
Matrix Service Co.(a) |
61,803 | 646,459 | ||||||
Moving Image Technologies LLC(a)(b) |
10,408 | 29,351 | ||||||
MYR Group Inc.(a) |
38,941 | 3,874,630 | ||||||
Northwest Pipe Co.(a) |
22,769 | 539,625 | ||||||
NV5 Global Inc.(a)(b) |
31,151 | 3,070,554 | ||||||
Orbital Energy Group Inc.(a)(b) |
104,487 | 321,820 | ||||||
Orion Group Holdings Inc.(a)(b) |
68,507 | 372,678 | ||||||
Sterling Construction Co. Inc.(a) |
65,251 | 1,479,240 | ||||||
Tutor Perini Corp.(a) |
98,616 | 1,280,036 | ||||||
Williams Industrial Services Group Inc.(a)(b) |
42,808 | 182,653 | ||||||
|
|
|||||||
18,675,731 | ||||||||
Construction Materials — 0.2% | ||||||||
Forterra Inc.(a) |
69,057 | 1,626,983 | ||||||
Smith-Midland Corp.(a)(b) |
9,797 | 135,884 | ||||||
United State Lime & Minerals Inc. |
4,880 | 589,504 | ||||||
|
|
|||||||
2,352,371 | ||||||||
Consumer Finance — 0.8% | ||||||||
Atlanticus Holdings Corp.(a)(b) |
12,536 | 665,160 | ||||||
Consumer Portfolio Services Inc.(a)(b) |
41,140 | 240,669 | ||||||
Curo Group Holdings Corp. |
49,566 | 858,979 | ||||||
Elevate Credit Inc.(a) |
52,987 | 218,836 | ||||||
Enova International Inc.(a)(b) |
85,834 | 2,965,565 | ||||||
EZCORP Inc., Class A, NVS(a) |
115,621 | 875,251 | ||||||
Medallion Financial Corp.(a)(b) |
48,971 | 383,932 | ||||||
Nicholas Financial Inc.(a) |
11,497 | 141,413 | ||||||
Oportun Financial Corp.(a)(b) |
48,991 | 1,226,245 | ||||||
Regional Management Corp. |
18,662 | 1,085,755 | ||||||
World Acceptance Corp.(a)(b) |
10,165 | 1,927,081 | ||||||
|
|
|||||||
10,588,886 |
16 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Containers & Packaging — 0.4% | ||||||||
Myers Industries Inc. |
84,881 | $ | 1,661,121 | |||||
Ranpak Holdings Corp.(a)(b) |
88,714 | 2,379,309 | ||||||
UFP Technologies Inc.(a) |
16,137 | 993,878 | ||||||
|
|
|||||||
5,034,308 | ||||||||
Distributors — 0.1% | ||||||||
AMCON Distributing Co. |
387 | 57,655 | ||||||
Educational Development Corp. |
15,775 | 153,806 | ||||||
Funko Inc., Class A(a) |
62,242 | 1,133,427 | ||||||
Greenlane Holdings Inc., Class A(a) |
39,428 | 93,445 | ||||||
Weyco Group Inc. |
14,349 | 325,148 | ||||||
|
|
|||||||
1,763,481 | ||||||||
Diversified Consumer Services — 1.1% | ||||||||
American Public Education Inc.(a) |
43,642 | 1,117,672 | ||||||
Amesite Inc.(a)(b) |
28,231 | 50,675 | ||||||
Aspen Group Inc./CO(a)(b) |
53,172 | 296,168 | ||||||
Carriage Services Inc. |
38,443 | 1,714,173 | ||||||
Elite Education Group International Ltd.(a)(b) |
2,000 | 8,220 | ||||||
European Wax Center Inc., Class A(a)(b) |
24,016 | 672,688 | ||||||
Houghton Mifflin Harcourt Co.(a)(b) |
299,590 | 4,023,494 | ||||||
Lincoln Educational Services Corp.(a) |
57,578 | 385,197 | ||||||
OneSpaWorld Holdings Ltd.(a) |
125,363 | 1,249,869 | ||||||
Perdoceo Education Corp.(a) |
167,096 | 1,764,534 | ||||||
Regis Corp.(a)(b) |
55,594 | 193,467 | ||||||
Select Interior Concepts Inc., Class A(a)(b) |
43,084 | 621,271 | ||||||
StoneMor Inc.(a) |
76,298 | 188,456 | ||||||
Universal Technical Institute Inc.(a) |
75,999 | 513,753 | ||||||
XpresSpa Group Inc.(a) |
247,140 | 363,296 | ||||||
Zovio Inc., Class A(a)(b) |
68,128 | 162,826 | ||||||
|
|
|||||||
13,325,759 | ||||||||
Diversified Financial Services — 0.4% | ||||||||
Alerus Financial Corp. |
35,939 | 1,073,857 | ||||||
A-Mark Precious Metals Inc. |
20,501 | 1,230,470 | ||||||
Banco Latinoamericano de Comercio Exterior SA, Class E |
74,265 | 1,302,608 | ||||||
FlexShopper Inc.(a) |
36,440 | 113,328 | ||||||
Greenidge Generation Holdings Inc.(a) |
3,994 | 102,007 | ||||||
GWG Holdings Inc.(a) |
7,246 | 72,460 | ||||||
Marlin Business Services Corp. |
19,118 | 424,993 | ||||||
SWK Holdings Corp.(a)(b) |
7,663 | 139,237 | ||||||
|
|
|||||||
4,458,960 | ||||||||
Diversified Telecommunication Services — 0.8% | ||||||||
Anterix Inc.(a) |
27,101 | 1,645,031 | ||||||
ATN International Inc. |
26,097 | 1,222,644 | ||||||
Consolidated Communications Holdings Inc.(a) |
171,004 | 1,571,527 | ||||||
Cuentas Inc.(a) |
14,205 | 41,052 | ||||||
IDT Corp., Class B(a)(b) |
47,037 | 1,973,202 | ||||||
Ooma Inc.(a) |
50,811 | 945,593 | ||||||
Radius Global Infrastructure Inc., Class A(a)(b) |
139,054 | 2,270,752 | ||||||
|
|
|||||||
9,669,801 | ||||||||
Electric Utilities — 0.1% | ||||||||
Genie Energy Ltd., Class B |
49,252 | 321,615 | ||||||
Via Renewables Inc. |
29,030 | 295,816 | ||||||
|
|
|||||||
617,431 | ||||||||
Electrical Equipment — 1.2% | ||||||||
Advent Technologies Holdings Inc.(a)(b) |
36,992 | 321,830 | ||||||
Allied Motion Technologies Inc. |
27,288 | 853,569 | ||||||
American Superconductor Corp.(a)(b) |
65,499 | 954,975 | ||||||
Ault Global Holdings Inc.(a)(b) |
113,923 | 276,833 |
Security | Shares | Value | ||||||
Electrical Equipment (continued) | ||||||||
Babcock & Wilcox Enterprises Inc.(a)(b) |
130,408 | $ | 835,915 | |||||
Beam Global(a)(b) |
20,628 | 564,588 | ||||||
Blink Charging Co.(a)(b) |
86,262 | 2,467,956 | ||||||
Broadwind Inc.(a)(b) |
42,283 | 109,513 | ||||||
Capstone Green Energy Corp.(a) |
34,175 | 164,382 | ||||||
Energous Corp.(a)(b) |
150,681 | 313,417 | ||||||
Eos Energy Enterprises Inc.(a)(b) |
101,467 | 1,423,582 | ||||||
Espey Manufacturing & Electronics Corp. |
5,538 | 80,578 | ||||||
Flux Power Holdings Inc.(a)(b) |
18,560 | 94,285 | ||||||
FTC Solar Inc.(a)(b) |
44,328 | 345,315 | ||||||
Ideal Power Inc.(a)(b) |
14,608 | 222,334 | ||||||
LSI Industries Inc. |
62,075 | 481,081 | ||||||
Nuvve Holding Corp.(a)(b) |
18,702 | 201,982 | ||||||
Ocean Power Technologies Inc.(a)(b) |
125,507 | 291,176 | ||||||
Orion Energy Systems Inc.(a)(b) |
68,324 | 265,780 | ||||||
Pioneer Power Solutions Inc. |
9,578 | 31,799 | ||||||
Polar Power Inc.(a)(b) |
17,095 | 94,706 | ||||||
Powell Industries Inc. |
22,289 | 547,641 | ||||||
Preformed Line Products Co. |
6,988 | 454,500 | ||||||
Romeo Power Inc.(a)(b) |
297,998 | 1,475,090 | ||||||
Sunworks Inc.(a)(b) |
65,565 | 402,569 | ||||||
Thermon Group Holdings Inc.(a)(b) |
77,255 | 1,337,284 | ||||||
Ultralife Corp.(a)(b) |
23,154 | 163,699 | ||||||
Westwater Resources Inc.(a)(b) |
80,038 | 286,536 | ||||||
|
|
|||||||
15,062,915 | ||||||||
Electronic Equipment, Instruments & Components — 1.5% | ||||||||
Airgain Inc.(a)(b) |
20,956 | 264,255 | ||||||
Akoustis Technologies Inc.(a) |
101,798 | 987,441 | ||||||
AmpliTech Group Inc.(a)(b) |
6,428 | 23,012 | ||||||
Arlo Technologies Inc.(a) |
197,266 | 1,264,475 | ||||||
Autoscope Technologies Corp. |
9,830 | 72,840 | ||||||
Bel Fuse Inc., Class B, NVS |
24,291 | 301,937 | ||||||
ClearSign Technologies Corp.(a) |
56,842 | 113,684 | ||||||
Coda Octopus Group Inc.(a) |
13,715 | 122,886 | ||||||
CPS Technologies Corp.(a)(b) |
26,374 | 131,079 | ||||||
CTS Corp. |
75,793 | 2,342,762 | ||||||
Daktronics Inc.(a) |
87,290 | 473,985 | ||||||
Data I/O Corp.(a) |
18,233 | 118,697 | ||||||
Digital Ally Inc.(a)(b) |
115,557 | 139,824 | ||||||
Frequency Electronics Inc.(a) |
14,260 | 148,304 | ||||||
Identiv Inc.(a) |
49,874 | 939,626 | ||||||
IEC Electronics Corp.(a) |
23,132 | 354,613 | ||||||
Intellicheck Inc.(a)(b) |
41,930 | 343,407 | ||||||
Interlink Electronics Inc.(a) |
1,823 | 17,173 | ||||||
Iteris Inc.(a)(b) |
99,516 | 525,444 | ||||||
Key Tronic Corp.(a) |
22,104 | 143,676 | ||||||
Kimball Electronics Inc.(a)(b) |
56,718 | 1,461,623 | ||||||
LGL Group Inc. (The)(a) |
7,367 | 101,591 | ||||||
LightPath Technologies Inc., Class A(a)(b) |
61,073 | 130,085 | ||||||
Luna Innovations Inc.(a)(b) |
72,378 | 687,591 | ||||||
Mechanical Technology Inc.(a)(b) |
18,591 | 149,100 | ||||||
MICT Inc.(a)(b) |
265,098 | 410,902 | ||||||
Napco Security Technologies Inc.(a)(b) |
33,944 | 1,462,307 | ||||||
Powerfleet Inc.(a)(b) |
78,488 | 525,870 | ||||||
Red Cat Holdings Inc.(a)(b) |
73,416 | 255,488 | ||||||
Research Frontiers Inc.(a)(b) |
71,744 | 183,665 | ||||||
RF Industries Ltd.(a) |
22,875 | 184,601 | ||||||
Richardson Electronics Ltd. |
26,129 | 253,190 | ||||||
ScanSource Inc.(a) |
59,619 | 2,074,145 | ||||||
VerifyMe Inc.(a)(b) |
16,522 | 56,175 |
S C H E D U L E O F I N V E S T M E N T S |
17 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Electronic Equipment, Instruments & Components (continued) | ||||||||
Vishay Precision Group Inc.(a) |
29,351 | $ | 1,020,534 | |||||
Wayside Technology Group Inc. |
9,343 | 251,981 | ||||||
Wireless Telecom Group Inc.(a)(b) |
41,576 | 86,062 | ||||||
Wrap Technologies Inc.(a)(b) |
49,227 | 294,870 | ||||||
|
|
|||||||
18,418,900 | ||||||||
Energy Equipment & Services — 1.5% | ||||||||
Aspen Aerogels Inc.(a) |
52,031 | 2,393,946 | ||||||
Bristow Group Inc.(a) |
55,973 | 1,781,621 | ||||||
Dawson Geophysical Co.(a) |
50,800 | 126,492 | ||||||
DMC Global Inc.(a) |
43,755 | 1,614,997 | ||||||
ENGlobal Corp.(a)(b) |
61,104 | 163,148 | ||||||
Exterran Corp.(a)(b) |
58,544 | 259,935 | ||||||
Forum Energy Technologies Inc.(a)(b) |
10,441 | 235,340 | ||||||
Frank’s International NV(a) |
390,954 | 1,149,405 | ||||||
FTS International Inc., Class A(a)(b) |
20,975 | 515,985 | ||||||
Geospace Technologies Corp.(a) |
30,295 | 289,317 | ||||||
Gulf Island Fabrication Inc.(a) |
29,953 | 118,913 | ||||||
Helix Energy Solutions Group Inc.(a) |
337,479 | 1,309,419 | ||||||
ION Geophysical Corp.(a)(b) |
62,665 | 83,345 | ||||||
KLX Energy Services Holdings Inc.(a)(b) |
11,657 | 55,487 | ||||||
Mammoth Energy Services Inc.(a) |
30,378 | 88,400 | ||||||
MIND Technology Inc.(a) |
32,036 | 60,228 | ||||||
Nabors Industries Ltd.(a)(b) |
16,763 | 1,617,294 | ||||||
Natural Gas Services Group Inc.(a)(b) |
30,519 | 316,787 | ||||||
NCS Multistage Holdings Inc.(a)(b) |
1,561 | 45,815 | ||||||
Newpark Resources Inc.(a) |
212,830 | 702,339 | ||||||
Nine Energy Service Inc.(a)(b) |
38,513 | 70,479 | ||||||
Nuverra Environmental Solutions Inc.(a)(b) |
8,256 | 16,324 | ||||||
Oil States International Inc.(a)(b) |
142,797 | 912,473 | ||||||
Profire Energy Inc.(a) |
93,408 | 107,419 | ||||||
Ranger Energy Services Inc.(a) |
11,841 | 108,937 | ||||||
SEACOR Marine Holdings Inc.(a)(b) |
49,692 | 230,074 | ||||||
Select Energy Services Inc., Class A(a) |
145,225 | 753,718 | ||||||
Smart Sand Inc.(a)(b) |
55,539 | 136,071 | ||||||
Solaris Oilfield Infrastructure Inc., Class A |
74,619 | 622,323 | ||||||
TETRA Technologies Inc.(a) |
288,411 | 899,842 | ||||||
Tidewater Inc.(a)(b) |
96,721 | 1,166,455 | ||||||
U.S. Silica Holdings Inc.(a) |
172,771 | 1,380,440 | ||||||
|
|
|||||||
19,332,768 | ||||||||
Entertainment — 0.3% | ||||||||
Ballantyne Strong Inc.(a) |
30,388 | 93,291 | ||||||
Chicken
Soup For The Soul Entertainment |
16,768 | 383,484 | ||||||
Cinedigm Corp., Class A(a) |
341,165 | 856,324 | ||||||
CuriosityStream Inc.(a)(b) |
61,108 | 644,078 | ||||||
Dolphin Entertainment Inc.(a)(b) |
16,692 | 202,975 | ||||||
Eros STX Global Corp.(a)(b) |
746,171 | 686,104 | ||||||
Gaia Inc., Class A(a)(b) |
28,385 | 269,090 | ||||||
Marcus Corp. (The)(a) |
53,715 | 937,327 | ||||||
Reading International Inc., Class A, NVS(a)(b) |
38,865 | 196,657 | ||||||
|
|
|||||||
4,269,330 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 3.3% | ||||||||
Alpine Income Property Trust Inc. |
25,216 | 463,218 | ||||||
Ashford Hospitality Trust Inc.(a)(b) |
40,062 | 589,713 | ||||||
Bluerock Residential Growth REIT Inc., Class A |
62,944 | 801,907 | ||||||
Braemar Hotels & Resorts Inc.(a) |
124,146 | 602,108 | ||||||
BRT Apartments Corp. |
27,583 | 531,800 | ||||||
CatchMark Timber Trust Inc., Class A |
117,216 | 1,391,354 | ||||||
Cedar Realty Trust Inc. |
30,212 | 655,298 | ||||||
Chatham Lodging Trust(a) |
114,332 | 1,400,567 |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
CIM Commercial Trust Corp. |
42,958 | $ | 389,199 | |||||
City Office REIT Inc. |
101,530 | 1,813,326 | ||||||
Clipper Realty Inc. |
30,367 | 245,973 | ||||||
Condor Hospitality Trust Inc.(a) |
14,778 | 103,003 | ||||||
CorEnergy Infrastructure Trust Inc. |
32,382 | 143,452 | ||||||
CorePoint Lodging Inc.(a) |
92,883 | 1,439,686 | ||||||
CTO Realty Growth Inc. |
14,195 | 763,123 | ||||||
Farmland Partners Inc. |
67,036 | 803,762 | ||||||
Franklin Street Properties Corp., Class C |
245,781 | 1,140,424 | ||||||
GEO Group Inc. (The) |
188,669 | 1,409,357 | ||||||
Gladstone Commercial Corp. |
89,157 | 1,874,972 | ||||||
Gladstone Land Corp. |
68,147 | 1,551,707 | ||||||
Global Medical REIT Inc. |
142,976 | 2,101,747 | ||||||
Global Self Storage Inc. |
24,535 | 126,355 | ||||||
Hersha Hospitality Trust, Class A(a) |
76,369 | 712,523 | ||||||
Indus Realty Trust Inc. |
10,304 | 722,310 | ||||||
InnSuites Hospitality Trust(b) |
8,250 | 34,155 | ||||||
NETSTREIT Corp. |
93,531 | 2,212,008 | ||||||
New York City REIT Inc., Class A(b) |
23,066 | 186,143 | ||||||
NexPoint Residential Trust Inc. |
52,976 | 3,278,155 | ||||||
One Liberty Properties Inc. |
38,706 | 1,180,146 | ||||||
Pennsylvania REIT(a) |
187,819 | 364,369 | ||||||
Plymouth Industrial REIT Inc. |
69,279 | 1,576,097 | ||||||
Postal Realty Trust Inc., Class A |
29,749 | 554,521 | ||||||
Power REIT(a) |
5,343 | 266,963 | ||||||
Preferred Apartment Communities Inc. |
122,446 | 1,497,515 | ||||||
Presidio Property Trust Inc., Class A(b) |
25,401 | 95,762 | ||||||
Retail Value Inc. |
41,129 | 1,082,927 | ||||||
Seritage Growth Properties, Class A(a) |
88,089 | 1,306,360 | ||||||
Sotherly Hotels Inc.(a) |
34,031 | 87,119 | ||||||
UMH Properties Inc. |
100,756 | 2,307,312 | ||||||
Universal Health Realty Income Trust |
30,780 | 1,701,211 | ||||||
Urstadt Biddle Properties Inc., Class A |
71,422 | 1,352,018 | ||||||
Ventas Inc. |
1 | 55 | ||||||
Wheeler Real Estate Investment Trust Inc.(a) |
19,008 | 56,074 | ||||||
Whitestone REIT |
104,783 | 1,024,778 | ||||||
|
|
|||||||
41,940,572 | ||||||||
Food & Staples Retailing — 0.6% | ||||||||
Blue Apron Holdings Inc., Class A(a)(b) |
40,331 | 296,433 | ||||||
Chefs’ Warehouse Inc. (The)(a)(b) |
74,624 | 2,430,504 | ||||||
HF Foods Group Inc.(a)(b) |
84,842 | 513,294 | ||||||
Ifresh Inc.(a) |
54,766 | 56,409 | ||||||
MedAvail Holdings Inc.(a)(b) |
28,564 | 83,407 | ||||||
Natural Grocers by Vitamin Cottage Inc. |
21,619 | 242,565 | ||||||
Rite Aid Corp.(a)(b) |
130,073 | 1,847,037 | ||||||
SpartanNash Co. |
85,069 | 1,863,011 | ||||||
Village Super Market Inc., Class A |
20,896 | 453,025 | ||||||
|
|
|||||||
7,785,685 | ||||||||
Food Products — 0.4% | ||||||||
Alico Inc. |
12,583 | 430,842 | ||||||
Arcadia Biosciences Inc.(a)(b) |
53,976 | 111,730 | ||||||
Bridgford Foods Corp.(a) |
4,745 | 56,845 | ||||||
Farmer Bros. Co.(a) |
39,163 | 329,361 | ||||||
Laird Superfood Inc.(a)(b) |
14,636 | 279,255 | ||||||
Landec Corp.(a)(b) |
61,268 | 564,891 | ||||||
Lifeway Foods Inc.(a)(b) |
11,196 | 62,586 | ||||||
Limoneira Co. |
37,355 | 604,030 | ||||||
Nuzee Inc.(a)(b) |
27,272 | 59,998 | ||||||
Rocky Mountain Chocolate Factory Inc.(a) |
11,720 | 86,728 |
18 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Food Products (continued) | ||||||||
S&W Seed Co.(a)(b) |
32,624 | $ | 84,496 | |||||
Seneca Foods Corp., Class A(a) |
14,967 | 721,709 | ||||||
Vital Farms Inc.(a)(b) |
57,666 | 1,013,192 | ||||||
Whole Earth Brands Inc.(a) |
87,393 | 1,009,389 | ||||||
|
|
|||||||
5,415,052 | ||||||||
Gas Utilities — 0.0% | ||||||||
RGC Resources Inc. |
18,896 | 427,994 | ||||||
|
|
|||||||
Health Care Equipment & Supplies — 5.1% | ||||||||
Accelerate Diagnostics Inc.(a)(b) |
77,429 | 451,411 | ||||||
Accuray Inc.(a) |
218,583 | 863,403 | ||||||
Acutus Medical Inc.(a) |
44,731 | 395,422 | ||||||
Alphatec Holdings Inc.(a)(b) |
167,303 | 2,039,424 | ||||||
AngioDynamics Inc.(a)(b) |
87,593 | 2,272,162 | ||||||
Apollo Endosurgery Inc.(a) |
43,626 | 395,252 | ||||||
Apyx Medical Corp.(a) |
73,132 | 1,012,878 | ||||||
Asensus Surgical Inc.(a)(b) |
549,497 | 1,016,569 | ||||||
Aspira Women’s Health Inc.(a)(b) |
170,785 | 555,051 | ||||||
Avinger Inc.(a)(b) |
237,405 | 176,629 | ||||||
Bellerophon Therapeutics Inc.(a) |
19,022 | 77,229 | ||||||
Beyond Air Inc.(a)(b) |
47,371 | 526,766 | ||||||
BioLife Solutions Inc.(a) |
57,591 | 2,437,251 | ||||||
Biomerica Inc.(a)(b) |
20,520 | 92,340 | ||||||
BioSig Technologies Inc.(a)(b) |
66,390 | 197,842 | ||||||
Bioventus Inc., Class A(a)(b) |
38,329 | 542,739 | ||||||
Chembio Diagnostics Inc.(a)(b) |
66,229 | 165,573 | ||||||
ClearPoint Neuro Inc.(a)(b) |
44,580 | 791,295 | ||||||
Co-Diagnostics Inc.(a) |
63,341 | 616,308 | ||||||
Cutera Inc.(a) |
41,559 | 1,936,649 | ||||||
CVRx Inc.(a) |
18,679 | 308,951 | ||||||
CytoSorbents Corp.(a)(b) |
96,643 | 784,741 | ||||||
DarioHealth Corp.(a)(b) |
31,616 | 431,558 | ||||||
Delcath Systems Inc.(a)(b) |
12,687 | 132,452 | ||||||
Ekso Bionics Holdings Inc.(a)(b) |
32,634 | 150,769 | ||||||
ElectroCore Inc.(a)(b) |
138,175 | 156,138 | ||||||
Electromed Inc.(a)(b) |
16,398 | 177,426 | ||||||
ENDRA Life Sciences Inc.(a)(b) |
95,729 | 165,611 | ||||||
Femasys Inc.(a) |
5,394 | 38,243 | ||||||
FONAR Corp.(a) |
15,459 | 238,996 | ||||||
GBS Inc.(a)(b) |
20,187 | 50,871 | ||||||
Helius Medical Technologies Inc.(a) |
5,260 | 73,798 | ||||||
Intersect ENT Inc.(a) |
78,662 | 2,139,606 | ||||||
IntriCon Corp.(a)(b) |
20,236 | 367,486 | ||||||
Invacare Corp.(a) |
79,587 | 378,834 | ||||||
INVO BioScience Inc.(a)(b) |
23,659 | 76,419 | ||||||
iRadimed Corp.(a)(b) |
14,917 | 501,062 | ||||||
IRIDEX Corp.(a) |
32,170 | 246,422 | ||||||
Kewaunee Scientific Corp.(a) |
6,207 | 82,057 | ||||||
Lantheus Holdings Inc.(a)(b) |
159,195 | 4,088,128 | ||||||
LeMaitre Vascular Inc. |
44,483 | 2,361,602 | ||||||
LENSAR Inc.(a) |
22,140 | 174,242 | ||||||
Lucira Health Inc.(a)(b) |
37,319 | 283,624 | ||||||
Meridian Bioscience Inc.(a) |
100,849 | 1,940,335 | ||||||
Microbot Medical Inc.(a) |
16,205 | 113,921 | ||||||
Milestone Scientific Inc.(a)(b) |
115,726 | 216,408 | ||||||
Misonix Inc.(a) |
28,587 | 723,251 | ||||||
Motus GI Holdings Inc.(a)(b) |
118,488 | 81,697 | ||||||
Myomo Inc.(a)(b) |
13,664 | 162,465 | ||||||
Natus Medical Inc.(a) |
80,050 | 2,007,654 | ||||||
Nemaura Medical Inc.(a)(b) |
28,378 | 170,552 |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
Neuronetics Inc.(a)(b) |
59,938 | $ | 393,193 | |||||
NeuroPace Inc.(a)(b) |
17,095 | 270,956 | ||||||
OraSure Technologies Inc.(a) |
168,091 | 1,901,109 | ||||||
Orthofix Medical Inc.(a) |
44,701 | 1,704,002 | ||||||
OrthoPediatrics Corp.(a) |
32,689 | 2,141,456 | ||||||
PAVmed Inc.(a) |
168,562 | 1,439,520 | ||||||
Predictive Oncology Inc.(a)(b) |
150,335 | 199,946 | ||||||
Pro-Dex Inc.(a)(b) |
5,061 | 131,232 | ||||||
Pulse Biosciences Inc.(a)(b) |
32,668 | 705,629 | ||||||
Quotient Ltd.(a)(b) |
184,088 | 430,766 | ||||||
Repro-Med Systems Inc.(a)(b) |
69,210 | 197,249 | ||||||
Retractable Technologies Inc.(a)(b) |
40,738 | 449,340 | ||||||
ReWalk Robotics Ltd.(a)(b) |
108,897 | 164,434 | ||||||
RxSight Inc.(a)(b) |
20,010 | 253,527 | ||||||
Sanara Medtech Inc.(a)(b) |
7,397 | 251,794 | ||||||
SeaSpine Holdings Corp.(a) |
74,519 | 1,172,184 | ||||||
Second Sight Medical Products Inc.(a)(b) |
38,736 | 123,568 | ||||||
Senseonics Holdings Inc.(a)(b) |
1,020,154 | 3,458,322 | ||||||
Sensus Healthcare Inc.(a) |
32,451 | 116,824 | ||||||
SI-BONE Inc.(a) |
77,114 | 1,651,782 | ||||||
Sientra Inc.(a) |
134,884 | 772,885 | ||||||
SiNtx Technologies Inc.(a)(b) |
67,200 | 86,016 | ||||||
Soliton Inc.(a)(b) |
27,186 | 553,507 | ||||||
Stereotaxis Inc.(a) |
116,713 | 627,916 | ||||||
Strata Skin Sciences Inc.(a) |
57,397 | 105,611 | ||||||
Surgalign Holdings Inc.(a)(b) |
230,193 | 250,910 | ||||||
Surmodics Inc.(a)(b) |
31,769 | 1,766,356 | ||||||
Talis Biomedical Corp.(a) |
33,978 | 212,363 | ||||||
Tela Bio Inc.(a) |
16,661 | 227,589 | ||||||
TransMedics Group Inc.(a)(b) |
61,243 | 2,026,531 | ||||||
Utah Medical Products Inc. |
8,170 | 758,503 | ||||||
Vapotherm Inc.(a) |
53,383 | 1,188,839 | ||||||
Venus Concept Inc.(a) |
63,442 | 159,239 | ||||||
ViewRay Inc.(a)(b) |
324,908 | 2,342,587 | ||||||
VolitionRx Ltd.(a)(b) |
82,787 | 256,640 | ||||||
Xtant Medical Holdings Inc.(a)(b) |
21,171 | 23,500 | ||||||
Zynex Inc.(a)(b) |
45,770 | 521,320 | ||||||
|
|
|||||||
64,424,657 | ||||||||
Health Care Providers & Services — 2.5% | ||||||||
Akumin Inc.(a) |
141,326 | 346,249 | ||||||
Apollo Medical Holdings Inc.(a)(b) |
88,966 | 8,100,353 | ||||||
Apria Inc.(a)(b) |
35,690 | 1,325,883 | ||||||
Avalon GloboCare Corp.(a)(b) |
59,031 | 52,420 | ||||||
Biodesix Inc.(a)(b) |
29,992 | 246,534 | ||||||
Capital Senior Living Corp.(a)(b) |
3,420 | 120,452 | ||||||
Castle Biosciences Inc.(a)(b) |
50,360 | 3,348,940 | ||||||
Cross Country Healthcare Inc.(a) |
84,833 | 1,801,853 | ||||||
Envveno Medical Corp., NVS |
17,538 | 182,044 | ||||||
Enzo Biochem Inc.(a) |
106,336 | 376,429 | ||||||
Exagen Inc.(a) |
24,169 | 328,698 | ||||||
Five Star Senior Living Inc.(a)(b) |
43,705 | 191,428 | ||||||
Great Elm Group Inc.(a) |
34,549 | 78,426 | ||||||
Hanger Inc.(a) |
87,988 | 1,932,216 | ||||||
Imac Holdings Inc.(a)(b) |
61,016 | 90,304 | ||||||
InfuSystem Holdings Inc.(a)(b) |
42,618 | 555,313 | ||||||
Joint Corp. (The)(a) |
32,586 | 3,194,080 | ||||||
Novo Integrated Sciences Inc.(a)(b) |
18,129 | 33,901 | ||||||
Ontrak Inc.(a)(b) |
20,943 | 210,268 | ||||||
PetIQ Inc.(a) |
63,839 | 1,594,060 | ||||||
Precipio Inc.(a) |
49,136 | 138,564 |
S C H E D U L E O F I N V E S T M E N T S |
19 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Health Care Providers & Services (continued) | ||||||||
Progenity Inc.(a)(b) |
44,376 | $ | 67,452 | |||||
Psychemedics Corp.(a) |
13,727 | 116,680 | ||||||
RadNet Inc.(a) |
107,265 | 3,143,937 | ||||||
Regional Health Properties Inc.(a) |
3,656 | 28,882 | ||||||
Sharps Compliance Corp.(a)(b) |
34,190 | 282,751 | ||||||
SOC Telemed Inc.(a) |
140,481 | 317,487 | ||||||
Triple-S Management Corp.(a) |
53,729 | 1,900,395 | ||||||
Viemed Healthcare Inc.(a) |
85,021 | 471,867 | ||||||
Vivos Therapeutics Inc.(a) |
41,283 | 166,783 | ||||||
|
|
|||||||
|
30,744,649 | |||||||
Health Care Technology — 0.8% | ||||||||
CareCloud Inc.(a)(b) |
22,108 | 168,463 | ||||||
Castlight Health Inc., Class B(a)(b) |
285,305 | 447,929 | ||||||
Computer Programs & Systems Inc. |
33,788 | 1,198,122 | ||||||
Convey Holding Parent Inc.(a) |
31,054 | 260,854 | ||||||
Forian Inc.(a)(b) |
44,496 | 459,199 | ||||||
HealthStream Inc.(a) |
59,450 | 1,699,081 | ||||||
Icad Inc.(a) |
51,354 | 552,056 | ||||||
iSpecimen Inc.(a)(b) |
5,424 | 31,676 | ||||||
NantHealth Inc.(a) |
60,153 | 96,846 | ||||||
OptimizeRx Corp.(a)(b) |
40,506 | 3,465,288 | ||||||
Simulations Plus Inc. |
36,367 | 1,436,496 | ||||||
Streamline Health Solutions Inc.(a)(b) |
70,746 | 123,806 | ||||||
|
|
|||||||
9,939,816 | ||||||||
Hotels, Restaurants & Leisure — 2.5% | ||||||||
Allied Esports Entertainment Inc.(a) |
46,779 | 82,799 | ||||||
Ark Restaurants Corp.(a) |
6,046 | 93,713 | ||||||
BBQ Holdings Inc.(a) |
9,823 | 148,229 | ||||||
Biglari Holdings Inc., Class B, NVS(a)(b) |
1,929 | 331,421 | ||||||
Bluegreen Vacations Holding Corp.(a) |
29,409 | 758,752 | ||||||
BurgerFi International Inc.(a)(b) |
23,766 | 205,814 | ||||||
Canterbury Park Holding Corp. |
7,297 | 121,057 | ||||||
Carrols Restaurant Group Inc. |
79,140 | 289,652 | ||||||
Century Casinos Inc.(a)(b) |
64,130 | 863,831 | ||||||
Chuy’s Holdings Inc.(a)(b) |
46,849 | 1,477,149 | ||||||
Del Taco Restaurants Inc. |
70,466 | 615,168 | ||||||
Dover Motorsports Inc. |
40,255 | 97,417 | ||||||
Drive Shack Inc.(a)(b) |
196,346 | 551,732 | ||||||
El Pollo Loco Holdings Inc.(a)(b) |
44,783 | 756,833 | ||||||
Esports Entertainment Group Inc.(a)(b) |
33,753 | 226,483 | ||||||
Esports Technologies Inc.(a)(b) |
26,277 | 882,119 | ||||||
Everi Holdings Inc.(a) |
201,989 | 4,884,094 | ||||||
FAT Brands Inc.(b) |
12,001 | 111,849 | ||||||
FAT Brands Inc., Class B |
1,388 | 12,492 | ||||||
Fiesta Restaurant Group Inc.(a) |
41,611 | 456,057 | ||||||
Flanigan’s Enterprises Inc.(a) |
2,264 | 60,404 | ||||||
Full House Resorts Inc.(a)(b) |
77,637 | 823,729 | ||||||
GAN Ltd.(a)(b) |
94,294 | 1,402,152 | ||||||
Golden Entertainment Inc.(a) |
40,651 | 1,995,558 | ||||||
Golden Nugget Online Gaming Inc.(a) |
94,418 | 1,640,041 | ||||||
Good Times Restaurants Inc.(a)(b) |
22,889 | 117,192 | ||||||
Hall of Fame Resort & Entertainment Co.(a)(b) |
132,551 | 351,260 | ||||||
Inspired Entertainment Inc.(a)(b) |
30,890 | 361,413 | ||||||
Kura Sushi USA Inc., Class A(a) |
9,314 | 406,835 | ||||||
Lindblad Expeditions Holdings Inc.(a)(b) |
73,066 | 1,066,033 | ||||||
Luby’s Inc.(a) |
44,684 | 186,779 | ||||||
Monarch Casino & Resort Inc.(a)(b) |
30,869 | 2,067,914 | ||||||
Nathan’s Famous Inc. |
6,831 | 417,852 | ||||||
NEOGAMES SA(a) |
13,106 | 481,252 |
Security | Shares | Value | ||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
Noodles & Co.(a) |
95,397 | $ | 1,125,685 | |||||
ONE Group Hospitality Inc. (The)(a) |
48,806 | 521,736 | ||||||
PlayAGS Inc.(a)(b) |
64,356 | 507,125 | ||||||
Potbelly Corp.(a)(b) |
61,182 | 414,814 | ||||||
RCI Hospitality Holdings Inc. |
19,620 | 1,344,166 | ||||||
Red Robin Gourmet Burgers Inc.(a) |
36,697 | 846,233 | ||||||
Ruth’s Hospitality Group Inc.(a) |
80,336 | 1,663,759 | ||||||
Target Hospitality Corp.(a)(b) |
63,114 | 235,415 | ||||||
Xponential Fitness Inc., Class A(a) |
23,257 | 295,131 | ||||||
|
|
|||||||
31,299,139 | ||||||||
Household Durables — 1.4% | ||||||||
Aterian Inc.(a)(b) |
60,733 | 657,738 | ||||||
Bassett Furniture Industries Inc. |
21,777 | 394,381 | ||||||
Beazer Homes USA Inc.(a)(b) |
69,060 | 1,191,285 | ||||||
Casper Sleep Inc.(a)(b) |
67,925 | 290,040 | ||||||
Comstock Holding Companies Inc.(a)(b) |
5,196 | 24,863 | ||||||
Dixie Group Inc. (The)(a) |
35,502 | 172,540 | ||||||
Ethan Allen Interiors Inc. |
53,754 | 1,273,970 | ||||||
Flexsteel Industries Inc. |
15,656 | 483,457 | ||||||
Green Brick Partners Inc.(a)(b) |
72,259 | 1,482,755 | ||||||
Hamilton Beach Brands Holding Co., Class A |
17,571 | 275,337 | ||||||
Harbor Custom Development Inc.(a)(b) |
29,816 | 70,068 | ||||||
Hooker Furniture Corp. |
27,699 | 747,596 | ||||||
Hovnanian Enterprises Inc., Class A(a) |
12,029 | 1,159,475 | ||||||
Koss Corp.(a) |
2,814 | 46,009 | ||||||
Landsea Homes Corp.(a) |
24,345 | 210,828 | ||||||
Legacy Housing Corp.(a)(b) |
18,711 | 336,237 | ||||||
Lifetime Brands Inc. |
29,741 | 540,989 | ||||||
Live Ventures Inc.(a)(b) |
2,996 | 113,189 | ||||||
Lovesac Co. (The)(a)(b) |
30,177 | 1,994,398 | ||||||
Nephros Inc.(a) |
14,354 | 125,885 | ||||||
Tupperware Brands Corp.(a)(b) |
117,237 | 2,476,045 | ||||||
Universal Electronics Inc.(a)(b) |
30,656 | 1,509,808 | ||||||
VOXX International Corp.(a)(b) |
36,574 | 418,772 | ||||||
Vuzix Corp.(a)(b) |
137,781 | 1,441,189 | ||||||
Weber Inc., Class A(a)(b) |
40,773 | 717,197 | ||||||
|
|
|||||||
18,154,051 | ||||||||
Household Products — 0.0% | ||||||||
Ocean Bio-Chem Inc. |
9,375 | 87,281 | ||||||
Oil-Dri Corp. of America |
12,878 | 450,730 | ||||||
|
|
|||||||
538,011 | ||||||||
Industrial Conglomerates — 0.0% | ||||||||
Gaucho Group Holdings Inc.(a)(b) |
18,673 | 57,326 | ||||||
|
|
|||||||
Insurance — 1.3% | ||||||||
Ambac Financial Group Inc.(a) |
106,726 | 1,528,316 | ||||||
Atlantic American Corp.(b) |
11,978 | 50,188 | ||||||
Citizens Inc./TX(a)(b) |
117,268 | 728,234 | ||||||
Crawford & Co., Class A, NVS |
39,361 | 353,068 | ||||||
Donegal Group Inc., Class A |
35,564 | 515,322 | ||||||
FedNat Holding Co. |
40,230 | 99,368 | ||||||
FG Financial Group Inc.(a) |
4,607 | 23,265 | ||||||
Greenlight Capital Re Ltd., Class A(a) |
61,546 | 454,825 | ||||||
Hallmark Financial Services Inc.(a)(b) |
29,786 | 108,719 | ||||||
HCI Group Inc. |
13,287 | 1,471,801 | ||||||
Heritage Insurance Holdings Inc. |
63,150 | 430,052 | ||||||
ICC Holdings Inc.(a) |
4,779 | 81,148 | ||||||
Independence Holding Co. |
10,073 | 499,520 | ||||||
Investors Title Co. |
3,041 | 555,287 |
20 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Insurance (continued) | ||||||||
Kingstone Companies Inc. |
21,696 | $ | 143,628 | |||||
Kingsway Financial Services Inc.(a) |
24,424 | 130,888 | ||||||
Maiden Holdings Ltd.(a) |
166,432 | 525,925 | ||||||
MBIA Inc.(a) |
112,446 | 1,444,931 | ||||||
MetroMile Inc.(a)(b) |
89,678 | 318,357 | ||||||
Midwest Holding Inc.(a) |
6,280 | 244,292 | ||||||
National Western Life Group Inc., Class A |
6,081 | 1,280,598 | ||||||
NI Holdings Inc.(a) |
21,870 | 384,037 | ||||||
State Auto Financial Corp. |
41,732 | 2,126,245 | ||||||
Tiptree Inc. |
55,022 | 551,321 | ||||||
Trean Insurance Group Inc.(a) |
41,524 | 429,773 | ||||||
United Fire Group Inc. |
49,792 | 1,150,195 | ||||||
United Insurance Holdings Corp. |
50,139 | 182,005 | ||||||
Universal Insurance Holdings Inc. |
64,573 | 842,032 | ||||||
Vericity Inc.(a) |
5,174 | 48,894 | ||||||
|
|
|||||||
16,702,234 | ||||||||
Interactive Media & Services — 0.5% | ||||||||
AutoWeb Inc.(a)(b) |
22,251 | 62,080 | ||||||
Creatd Inc.(a)(b) |
19,346 | 52,428 | ||||||
DHI Group Inc.(a) |
106,906 | 508,873 | ||||||
EverQuote Inc., Class A(a) |
45,073 | 839,710 | ||||||
IZEA Worldwide Inc.(a)(b) |
139,322 | 267,498 | ||||||
Kubient Inc.(a)(b) |
27,042 | 87,346 | ||||||
Liberty TripAdvisor Holdings Inc., Class A(a) |
171,541 | 530,062 | ||||||
Outbrain Inc.(a)(b) |
18,818 | 278,506 | ||||||
QuinStreet Inc.(a) |
117,541 | 2,064,020 | ||||||
Super League Gaming Inc.(a) |
23,365 | 72,665 | ||||||
Travelzoo(a)(b) |
12,610 | 146,276 | ||||||
TrueCar Inc.(a)(b) |
224,509 | 933,957 | ||||||
Zedge Inc., Class B(a)(b) |
24,043 | 321,215 | ||||||
|
|
|||||||
6,164,636 | ||||||||
Internet & Direct Marketing Retail — 0.9% | ||||||||
1847 Goedeker Inc.(a)(b) |
140,064 | 439,801 | ||||||
1stdibs.com Inc.(a)(b) |
15,600 | 193,440 | ||||||
CarParts.com Inc.(a)(b) |
115,574 | 1,804,110 | ||||||
Digital Brands Group Inc.(a)(b) |
5,082 | 15,449 | ||||||
Duluth Holdings Inc., Class B(a)(b) |
28,511 | 388,605 | ||||||
iMedia Brands Inc.(a) |
41,457 | 238,378 | ||||||
iPower Inc.(a)(b) |
7,282 | 28,837 | ||||||
Lands’ End Inc.(a)(b) |
33,709 | 793,510 | ||||||
Liquidity Services Inc.(a)(b) |
62,355 | 1,347,491 | ||||||
PARTS iD Inc.(a)(b) |
39,464 | 204,818 | ||||||
PetMed Express Inc. |
46,860 | 1,259,128 | ||||||
Porch Group Inc.(a)(b) |
181,676 | 3,212,032 | ||||||
Remark Holdings Inc.(a)(b) |
223,363 | 234,531 | ||||||
RumbleON Inc., Class B(a)(b) |
7,304 | 284,710 | ||||||
TRxADE HEALTH Inc.(a) |
9,660 | 47,914 | ||||||
Waitr Holdings Inc.(a)(b) |
212,776 | 188,392 | ||||||
|
|
|||||||
10,681,146 | ||||||||
IT Services — 1.9% | ||||||||
ALJ Regional Holdings Inc.(a)(b) |
56,934 | 60,350 | ||||||
American Virtual Cloud Technologies Inc.(a)(b) |
18,800 | 52,452 | ||||||
BM Technologies Inc.(a)(b) |
22,197 | 197,553 | ||||||
Brightcove Inc.(a) |
95,617 | 1,103,420 | ||||||
Cantaloupe Inc.(a)(b) |
136,667 | 1,473,270 | ||||||
Cass Information Systems Inc. |
33,621 | 1,407,039 | ||||||
Computer Task Group Inc.(a) |
32,766 | 261,473 | ||||||
Crexendo Inc.(a)(b) |
17,541 | 104,720 | ||||||
CSP Inc.(a) |
9,745 | 86,633 |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
ESC Srax Inc., NVS |
49,878 | $ | 2,993 | |||||
Exela Technologies Inc.(a)(b) |
84,553 | 164,033 | ||||||
Glimpse Group Inc. (The)(a)(b) |
4,326 | 31,537 | ||||||
GreenBox POS(a)(b) |
42,693 | 353,925 | ||||||
Grid Dynamics Holdings Inc.(a) |
99,223 | 2,899,296 | ||||||
Hackett Group Inc. (The) |
57,670 | 1,131,485 | ||||||
I3 Verticals Inc., Class A(a)(b) |
50,356 | 1,219,119 | ||||||
IBEX Holdings Ltd.(a)(b) |
13,759 | 233,903 | ||||||
Information Services Group Inc. |
83,318 | 598,223 | ||||||
Innodata Inc.(a) |
57,262 | 545,707 | ||||||
Inpixon(a)(b) |
231,873 | 192,918 | ||||||
International Money Express Inc.(a) |
75,221 | 1,256,191 | ||||||
Limelight Networks Inc.(a) |
293,737 | 699,094 | ||||||
MoneyGram International Inc.(a)(b) |
211,754 | 1,698,267 | ||||||
OLB Group Inc. (The)(a)(b) |
5,802 | 23,208 | ||||||
Paysign Inc.(a)(b) |
71,740 | 193,698 | ||||||
PFSweb Inc.(a) |
38,780 | 500,262 | ||||||
Priority Technology Holdings Inc.(a) |
23,826 | 159,158 | ||||||
Research Solutions Inc/CA(a) |
37,829 | 97,977 | ||||||
ServiceSource International Inc.(a)(b) |
229,727 | 310,131 | ||||||
StarTek Inc.(a) |
39,982 | 220,301 | ||||||
Steel Connect Inc.(a)(b) |
95,438 | 193,739 | ||||||
Tucows Inc., Class A(a)(b) |
22,881 | 1,806,455 | ||||||
Unisys Corp.(a)(b) |
155,035 | 3,897,580 | ||||||
Usio Inc.(a) |
46,866 | 277,447 | ||||||
WidePoint Corp.(a)(b) |
22,018 | 115,594 | ||||||
|
|
|||||||
23,569,151 | ||||||||
Leisure Products — 0.9% | ||||||||
American Outdoor Brands Inc.(a)(b) |
33,076 | 812,347 | ||||||
AMMO Inc.(a)(b) |
201,635 | 1,240,055 | ||||||
Clarus Corp. |
56,985 | 1,460,526 | ||||||
Escalade Inc. |
23,886 | 451,684 | ||||||
Genius Brands International Inc.(a)(b) |
661,929 | 900,223 | ||||||
JAKKS Pacific Inc.(a)(b) |
11,021 | 130,929 | ||||||
Johnson Outdoors Inc., Class A |
12,301 | 1,301,446 | ||||||
Marine Products Corp. |
19,196 | 240,142 | ||||||
MasterCraft Boat Holdings Inc.(a) |
44,069 | 1,105,250 | ||||||
Nautilus Inc.(a)(b) |
71,018 | 661,178 | ||||||
Smith & Wesson Brands Inc. |
113,353 | 2,353,208 | ||||||
Twin Vee PowerCats Co.(a)(b) |
5,893 | 21,392 | ||||||
Vinco Ventures Inc.(a)(b) |
52,151 | 334,288 | ||||||
|
|
|||||||
11,012,668 | ||||||||
Life Sciences Tools & Services — 0.6% | ||||||||
Akoya Biosciences Inc.(a)(b) |
18,140 | 253,234 | ||||||
Alpha Teknova Inc.(a)(b) |
16,493 | 410,511 | ||||||
Applied DNA Sciences Inc.(a) |
16,493 | 88,897 | ||||||
Champions Oncology Inc.(a)(b) |
15,057 | 153,732 | ||||||
ChromaDex Corp.(a)(b) |
110,185 | 690,860 | ||||||
Codex DNA Inc.(a)(b) |
17,571 | 195,565 | ||||||
Contra Aduro Biotech I(a)(c) |
33,109 | 99,328 | ||||||
Fluidigm Corp.(a)(b) |
178,874 | 1,178,780 | ||||||
Harvard Bioscience Inc.(a) |
92,050 | 642,509 | ||||||
Inotiv Inc.(a)(b) |
30,387 | 888,516 | ||||||
Miromatrix Medical Inc.(a) |
13,829 | 96,250 | ||||||
Personalis Inc.(a) |
85,683 | 1,648,541 | ||||||
Rapid Micro Biosystems Inc., Cass A(a) |
18,276 | 337,558 | ||||||
Singular Genomics Systems Inc.(a) |
27,460 | 307,277 | ||||||
|
|
|||||||
6,991,558 |
S C H E D U L E O F I N V E S T M E N T S |
21 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Machinery — 2.4% | ||||||||
AgEagle Aerial Systems Inc.(a)(b) |
161,918 | $ | 487,373 | |||||
Agrify Corp.(a)(b) |
39,458 | 731,551 | ||||||
Blue Bird Corp.(a) |
37,155 | 775,053 | ||||||
CIRCOR International Inc.(a) |
43,746 | 1,444,056 | ||||||
Columbus McKinnon Corp./NY |
65,872 | 3,184,911 | ||||||
Commercial Vehicle Group Inc.(a) |
75,263 | 711,988 | ||||||
Douglas Dynamics Inc. |
53,960 | 1,958,748 | ||||||
Eastern Co. (The) |
12,864 | 323,658 | ||||||
Energy Recovery Inc.(a)(b) |
98,778 | 1,879,745 | ||||||
ExOne Co. (The)(a) |
39,976 | 934,639 | ||||||
FreightCar America Inc.(a)(b) |
33,144 | 150,142 | ||||||
Gencor Industries Inc.(a) |
25,219 | 279,931 | ||||||
Graham Corp. |
24,866 | 308,338 | ||||||
Hurco Companies Inc. |
15,031 | 484,900 | ||||||
Ideanomics Inc.(a)(b) |
981,892 | 1,934,327 | ||||||
LB Foster Co., Class A(a) |
24,106 | 373,402 | ||||||
Lightning eMotors Inc.(a)(b) |
119,839 | 1,024,624 | ||||||
LS Starrett Co. (The), Class A(a) |
13,985 | 174,673 | ||||||
Luxfer Holdings PLC |
64,544 | 1,266,999 | ||||||
Lydall Inc.(a) |
41,274 | 2,562,703 | ||||||
Manitex International Inc.(a) |
35,444 | 254,488 | ||||||
Manitowoc Co. Inc. (The)(a) |
81,336 | 1,742,217 | ||||||
Mayville Engineering Co. Inc.(a)(b) |
21,318 | 400,778 | ||||||
Miller Industries Inc./TN |
26,371 | 897,669 | ||||||
NN Inc.(a)(b) |
100,524 | 527,751 | ||||||
Park-Ohio Holdings Corp. |
20,163 | 514,560 | ||||||
Perma-Pipe International Holdings Inc.(a) |
17,870 | 138,671 | ||||||
Shyft Group Inc. (The)(b) |
81,591 | 3,101,274 | ||||||
Taylor Devices Inc.(a)(b) |
7,567 | 85,507 | ||||||
Titan International Inc.(a) |
119,947 | 858,821 | ||||||
Twin Disc Inc.(a) |
24,611 | 262,353 | ||||||
Urban-Gro Inc.(a)(b) |
18,966 | 252,058 | ||||||
|
|
|||||||
30,027,908 | ||||||||
Marine — 0.3% | ||||||||
Eagle Bulk Shipping Inc.(a) |
20,955 | 1,056,551 | ||||||
Eneti Inc. |
17,984 | 300,333 | ||||||
Genco Shipping & Trading Ltd. |
76,085 | 1,531,591 | ||||||
Navios Maritime Holdings Inc.(a)(b) |
28,850 | 137,615 | ||||||
Pangaea Logistics Solutions Ltd. |
26,334 | 132,987 | ||||||
Safe Bulkers Inc.(a) |
145,491 | 752,188 | ||||||
|
|
|||||||
3,911,265 | ||||||||
Media — 1.2% | ||||||||
Beasley Broadcast Group Inc., Class A(a) |
27,557 | 73,302 | ||||||
Boston Omaha Corp., Class A(a)(b) |
41,731 | 1,618,328 | ||||||
Clear Channel Outdoor Holdings Inc.(a)(b) |
859,018 | 2,327,939 | ||||||
comScore Inc.(a) |
164,569 | 641,819 | ||||||
Cumulus Media Inc., Class A(a) |
43,037 | 527,203 | ||||||
Daily Journal Corp.(a)(b) |
2,833 | 907,608 | ||||||
DallasNews Corp. |
11,689 | 81,239 | ||||||
Digital Media Solutions Inc., Class A(a)(b) |
7,844 | 56,869 | ||||||
Emerald Holding Inc.(a) |
56,343 | 244,529 | ||||||
Entercom Communications Corp.(a) |
277,437 | 1,020,968 | ||||||
Entravision Communications Corp., Class A |
141,282 | 1,003,102 | ||||||
Fluent Inc.(a)(b) |
102,530 | 232,743 | ||||||
Gannett Co. Inc.(a) |
332,647 | 2,222,082 | ||||||
Hemisphere Media Group Inc.(a) |
38,217 | 465,483 | ||||||
Lee Enterprises Inc.(a) |
13,183 | 298,463 | ||||||
Marchex Inc., Class B(a) |
80,309 | 239,722 | ||||||
National CineMedia Inc. |
146,017 | 519,821 |
Security | Shares | Value | ||||||
|
||||||||
Media (continued) | ||||||||
NextPlay Technologies Inc.(a) |
64,405 | $ | 86,303 | |||||
Saga Communications Inc., Class A |
9,234 | 210,073 | ||||||
Salem Media Group Inc.(a) |
24,964 | 92,616 | ||||||
Social Reality Inc., Class A(b)(c) |
23,207 | 0 | (d) | |||||
SPAR Group Inc.(a)(b) |
28,993 | 40,300 | ||||||
Stagwell Inc.(a)(b) |
144,776 | 1,110,432 | ||||||
Thryv Holdings Inc.(a)(b) |
17,968 | 539,759 | ||||||
Townsquare Media Inc., Class A(a) |
25,655 | 335,311 | ||||||
Troika Media Group Inc.(a)(b) |
47,641 | 62,886 | ||||||
Urban One Inc., NVS(a) |
37,271 | 253,816 | ||||||
Urban One Inc., Class A(a) |
17,067 | 138,584 | ||||||
|
|
|||||||
15,351,300 | ||||||||
Metals & Mining — 1.3% | ||||||||
Alpha Metallurgical Resources Inc.(a) |
41,369 | 2,059,762 | ||||||
Ampco-Pittsburgh Corp.(a)(b) |
37,175 | 174,722 | ||||||
Caledonia Mining Corp. PLC |
28,383 | 343,434 | ||||||
Comstock Mining Inc.(a)(b) |
100,180 | 267,481 | ||||||
Friedman Industries Inc. |
15,473 | 184,283 | ||||||
Gatos Silver Inc.(a) |
108,773 | 1,265,030 | ||||||
Gold Resource Corp. |
175,497 | 275,530 | ||||||
Haynes International Inc. |
29,505 | 1,099,061 | ||||||
Hycroft Mining Holding Corp.(a)(b) |
86,147 | 128,359 | ||||||
Olympic Steel Inc. |
22,122 | 538,892 | ||||||
Paramount Gold Nevada Corp.(a)(b) |
35,895 | 29,434 | ||||||
Perpetua Resources Corp.(a) |
62,822 | 312,854 | ||||||
PolyMet Mining Corp.(a)(b) |
67,754 | 206,650 | ||||||
Ramaco Resources Inc.(a)(b) |
30,144 | 371,073 | ||||||
Ryerson Holding Corp. |
38,602 | 859,667 | ||||||
Schnitzer Steel Industries Inc., Class A |
61,391 | 2,689,540 | ||||||
SunCoke Energy Inc. |
196,039 | 1,231,125 | ||||||
Synalloy Corp.(a) |
14,930 | 161,244 | ||||||
TimkenSteel Corp.(a)(b) |
107,873 | 1,410,979 | ||||||
U.S. Gold Corp.(a)(b) |
15,464 | 158,351 | ||||||
Universal Stainless & Alloy Products Inc.(a) |
18,630 | 193,007 | ||||||
Warrior Met Coal Inc. |
121,642 | 2,830,609 | ||||||
|
|
|||||||
16,791,087 | ||||||||
Mortgage Real Estate Investment — 1.6% | ||||||||
ACRES Commercial Realty Corp.(a) |
25,695 | 415,488 | ||||||
AFC Gamma Inc. |
20,704 | 446,792 | ||||||
AG Mortgage Investment Trust Inc. |
38,699 | 442,330 | ||||||
Angel Oak Mortgage Inc. |
17,314 | 293,126 | ||||||
Ares Commercial Real Estate Corp. |
103,984 | 1,568,079 | ||||||
Arlington Asset Investment Corp., Class A(a) |
73,738 | 272,831 | ||||||
ARMOUR Residential REIT Inc. |
193,717 | 2,088,269 | ||||||
Capstead Mortgage Corp. |
224,300 | 1,500,567 | ||||||
Cherry Hill Mortgage Investment Corp. |
40,507 | 359,702 | ||||||
Dynex Capital Inc. |
80,448 | 1,390,141 | ||||||
Ellington Financial Inc. |
109,573 | 2,004,090 | ||||||
Ellington Residential Mortgage REIT |
28,033 | 312,848 | ||||||
Granite Point Mortgage Trust Inc. |
128,506 | 1,692,424 | ||||||
Great Ajax Corp. |
50,719 | 684,199 | ||||||
Invesco Mortgage Capital Inc. |
685,473 | 2,159,240 | ||||||
Lument Finance Trust Inc. |
42,173 | 167,005 | ||||||
Manhattan Bridge Capital Inc. |
17,905 | 121,754 | ||||||
Nexpoint Real Estate Finance Inc. |
12,614 | 245,721 | ||||||
Orchid Island Capital Inc. |
294,556 | 1,440,379 | ||||||
Ready Capital Corp. |
136,722 | 1,972,899 | ||||||
Sachem Capital Corp. |
51,248 | 279,814 | ||||||
Tremont Mortgage Trust(b) |
16,732 | 87,341 |
22 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Mortgage Real Estate Investment (continued) | ||||||||
Western Asset Mortgage Capital Corp. |
141,280 | $ | 368,741 | |||||
|
|
|||||||
20,313,780 | ||||||||
Multi-Utilities — 0.1% | ||||||||
Unitil Corp. |
36,642 | 1,567,545 | ||||||
|
|
|||||||
Multiline Retail — 0.2% | ||||||||
Franchise Group Inc. |
67,086 | 2,375,515 | ||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 4.7% | ||||||||
Adams Resources & Energy Inc. |
6,969 | 211,649 | ||||||
Aemetis Inc.(a)(b) |
64,484 | 1,178,768 | ||||||
Alto Ingredients Inc.(a)(b) |
171,634 | 847,872 | ||||||
Altus Midstream Co., Class A |
7,666 | 529,184 | ||||||
American Resources Corp.(a)(b) |
91,837 | 174,490 | ||||||
Amplify Energy Corp.(a) |
83,644 | 444,986 | ||||||
Arch Resources Inc.(a) |
35,711 | 3,312,195 | ||||||
Ardmore Shipping Corp.(a) |
82,427 | 342,072 | ||||||
Battalion Oil Corp.(a)(b) |
7,844 | 76,322 | ||||||
Berry Corp. |
159,896 | 1,152,850 | ||||||
Bonanza Creek Energy Inc. |
72,917 | 3,492,724 | ||||||
Centrus Energy Corp., Class A(a)(b) |
23,074 | 892,041 | ||||||
CONSOL Energy Inc.(a)(b) |
81,060 | 2,109,181 | ||||||
Contango Oil & Gas Co.(a)(b) |
347,655 | 1,588,783 | ||||||
Dorian LPG Ltd. |
73,234 | 908,834 | ||||||
Earthstone Energy Inc., Class A(a)(b) |
56,306 | 518,015 | ||||||
Energy Fuels Inc./Canada(a)(b) |
348,994 | 2,449,938 | ||||||
Epsilon Energy Ltd.(a)(b) |
31,330 | 201,765 | ||||||
Evolution Petroleum Corp. |
73,670 | 418,446 | ||||||
Extraction Oil & Gas Inc.(a) |
37,083 | 2,093,335 | ||||||
Falcon Minerals Corp. |
93,784 | 440,785 | ||||||
Gevo Inc.(a)(b) |
463,185 | 3,075,548 | ||||||
Goodrich Petroleum Corp.(a) |
23,093 | 546,380 | ||||||
Green Plains Inc.(a) |
99,613 | 3,252,364 | ||||||
Hallador Energy Co.(a) |
56,123 | 166,124 | ||||||
HighPeak Energy Inc. |
11,768 | 105,912 | ||||||
International Seaways Inc. |
108,927 | 1,984,650 | ||||||
Laredo Petroleum Inc.(a)(b) |
29,724 | 2,409,725 | ||||||
Lightbridge Corp.(a)(b) |
16,858 | 82,098 | ||||||
NACCO Industries Inc., Class A |
9,932 | 296,371 | ||||||
Navios Maritime Acquisition Corp. |
27,905 | 114,411 | ||||||
NextDecade Corp.(a)(b) |
67,387 | 187,336 | ||||||
Nordic American Tankers Ltd. |
361,316 | 924,969 | ||||||
Northern Oil and Gas Inc. |
123,641 | 2,645,917 | ||||||
Overseas Shipholding Group Inc., Class A(a) |
153,444 | 319,164 | ||||||
Par Pacific Holdings Inc.(a)(b) |
108,738 | 1,709,361 | ||||||
Peabody Energy Corp.(a) |
190,110 | 2,811,727 | ||||||
PEDEVCO Corp.(a)(b) |
42,869 | 63,446 | ||||||
Penn Virginia Corp.(a) |
36,296 | 968,014 | ||||||
PHX Minerals Inc. |
62,631 | 191,651 | ||||||
PrimeEnergy Resources Corp.(a) |
1,412 | 84,791 | ||||||
REX American Resources Corp.(a)(b) |
13,000 | 1,038,310 | ||||||
Riley Exploration Permian Inc. |
5,902 | 138,579 | ||||||
Ring Energy Inc.(a)(b) |
233,962 | 690,188 | ||||||
SandRidge Energy Inc.(a)(b) |
73,814 | 960,320 | ||||||
SilverBow Resources Inc.(a)(b) |
16,689 | 408,881 | ||||||
Stabilis Solutions Inc.(a) |
6,005 | 43,236 | ||||||
Teekay Corp.(a) |
163,864 | 599,742 | ||||||
Teekay Tankers Ltd., Class A(a) |
56,113 | 815,322 | ||||||
Tellurian Inc.(a)(b) |
849,478 | 3,321,459 | ||||||
Uranium Energy Corp.(a)(b) |
545,921 | 1,665,059 |
Security | Shares | Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Ur-Energy Inc.(a) |
424,037 | $ | 729,344 | |||||
VAALCO Energy Inc.(a) |
127,657 | 375,312 | ||||||
Vertex Energy Inc.(a)(b) |
90,269 | 473,010 | ||||||
Vine Energy Inc., Class A(a) |
59,568 | 981,085 | ||||||
W&T Offshore Inc.(a)(b) |
221,099 | 822,488 | ||||||
|
|
|||||||
58,386,529 | ||||||||
Paper & Forest Products — 0.3% | ||||||||
Clearwater Paper Corp.(a) |
38,818 | 1,487,894 | ||||||
Glatfelter Corp. |
103,414 | 1,458,138 | ||||||
Verso Corp., Class A |
63,435 | 1,316,276 | ||||||
|
|
|||||||
4,262,308 | ||||||||
Personal Products — 0.7% | ||||||||
Beauty Health Co. (The)(a)(b) |
205,817 | 5,345,068 | ||||||
Grove Inc.(a)(b) |
5,203 | 26,431 | ||||||
Guardion Health Sciences Inc.(a) |
55,008 | 69,860 | ||||||
Jupiter Wellness Inc.(a)(b) |
16,237 | 22,894 | ||||||
LifeMD Inc.(a)(b) |
40,888 | 253,914 | ||||||
Lifevantage Corp.(a) |
32,398 | 219,334 | ||||||
Mannatech Inc. |
2,822 | 92,223 | ||||||
Natural Alternatives International Inc.(a) |
10,956 | 147,687 | ||||||
Natural Health Trends Corp. |
17,230 | 123,539 | ||||||
Nature’s Sunshine Products Inc. |
27,887 | 408,545 | ||||||
Revlon Inc., Class A(a)(b) |
17,763 | 179,584 | ||||||
Summer Infant Inc.(a)(b) |
2,855 | 24,667 | ||||||
United-Guardian Inc. |
8,911 | 126,358 | ||||||
Veru Inc.(a)(b) |
151,016 | 1,288,167 | ||||||
|
|
|||||||
8,328,271 | ||||||||
Pharmaceuticals — 3.8% | ||||||||
9 Meters Biopharma Inc.(a) |
520,891 | 677,158 | ||||||
AcelRx Pharmaceuticals Inc.(a)(b) |
279,214 | 284,798 | ||||||
Acer Therapeutics Inc.(a) |
24,550 | 62,603 | ||||||
Aclaris Therapeutics Inc.(a)(b) |
120,383 | 2,166,894 | ||||||
Adial Pharmaceuticals Inc.(a) |
28,489 | 122,218 | ||||||
Aerie Pharmaceuticals Inc.(a)(b) |
99,400 | 1,133,160 | ||||||
Aerpio Pharmaceuticals Inc., NVS(b) |
102,420 | 1 | ||||||
Agile Therapeutics Inc.(a) |
161,432 | 155,152 | ||||||
Alimera Sciences Inc.(a)(b) |
16,678 | 70,882 | ||||||
Altamira Therapeutics Ltd.(a) |
29,997 | 60,294 | ||||||
Amphastar Pharmaceuticals Inc.(a)(b) |
87,080 | 1,655,391 | ||||||
Ampio Pharmaceuticals Inc.(a)(b) |
457,024 | 758,660 | ||||||
Anebulo Pharmaceuticals Inc.(a) |
7,011 | 47,184 | ||||||
Angion Biomedica Corp.(a)(b) |
51,633 | 504,454 | ||||||
ANI Pharmaceuticals Inc.(a)(b) |
23,081 | 757,518 | ||||||
Antares Pharma Inc.(a) |
392,209 | 1,427,641 | ||||||
Aquestive Therapeutics Inc.(a)(b) |
58,316 | 254,258 | ||||||
Athira Pharma Inc.(a) |
75,885 | 711,801 | ||||||
Avalo Therapeutics Inc.(a) |
124,420 | 271,236 | ||||||
Avenue Therapeutics Inc.(a)(b) |
18,278 | 27,234 | ||||||
Aytu BioPharma Inc.(a) |
15,061 | 43,376 | ||||||
Baudax Bio Inc.(a)(b) |
197,944 | 111,640 | ||||||
BioDelivery Sciences International Inc.(a) |
218,409 | 788,457 | ||||||
Cara Therapeutics Inc.(a) |
104,422 | 1,613,320 | ||||||
cbdMD Inc.(a)(b) |
89,220 | 185,578 | ||||||
Citius Pharmaceuticals Inc.(a)(b) |
265,780 | 539,533 | ||||||
Clearside Biomedical Inc.(a) |
113,484 | 680,904 | ||||||
Clever Leaves Holdings Inc.(a)(b) |
51,265 | 397,816 | ||||||
CNS Pharmaceuticals Inc.(a)(b) |
37,832 | 56,370 | ||||||
Cocrystal Pharma Inc.(a) |
209,909 | 220,404 | ||||||
Collegium Pharmaceutical Inc.(a)(b) |
83,474 | 1,647,777 |
S C H E D U L E O F I N V E S T M E N T S |
23 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
CorMedix Inc.(a)(b) |
91,488 | $ | 425,419 | |||||
Cumberland Pharmaceuticals Inc.(a) |
23,595 | 63,707 | ||||||
Cymabay Therapeutics Inc.(a)(b) |
162,874 | 594,490 | ||||||
Cyteir Therapeutics Inc.(a)(b) |
19,968 | 350,438 | ||||||
Dare Bioscience Inc.(a) |
112,403 | 187,713 | ||||||
Dermata Therapeutics Inc.(a)(b) |
5,239 | 23,523 | ||||||
Durect Corp.(a)(b) |
533,817 | 683,286 | ||||||
Eloxx Pharmaceuticals Inc.(a)(b) |
131,525 | 214,386 | ||||||
Enveric Biosciences Inc.(a)(b) |
45,283 | 93,736 | ||||||
Esperion Therapeutics Inc.(a)(b) |
61,715 | 743,666 | ||||||
Eton Pharmaceuticals Inc.(a)(b) |
49,114 | 247,535 | ||||||
Evofem Biosciences Inc.(a)(b) |
353,624 | 261,187 | ||||||
Evoke Pharma Inc.(a)(b) |
82,741 | 107,563 | ||||||
Evolus Inc.(a)(b) |
76,455 | 582,587 | ||||||
Eyenovia Inc.(a)(b) |
41,765 | 204,649 | ||||||
EyePoint Pharmaceuticals Inc.(a)(b) |
49,513 | 515,925 | ||||||
Fulcrum Therapeutics Inc.(a) |
62,962 | 1,776,158 | ||||||
Graybug Vision Inc.(a)(b) |
30,063 | 99,809 | ||||||
Harrow Health Inc.(a)(b) |
52,692 | 478,970 | ||||||
Hepion Pharmaceuticals Inc.(a)(b) |
180,495 | 276,157 | ||||||
Hoth Therapeutics Inc.(a)(b) |
59,815 | 71,180 | ||||||
Ikena Oncology Inc.(a)(b) |
24,098 | 304,117 | ||||||
IMARA Inc.(a) |
24,381 | 99,474 | ||||||
Jaguar Health Inc.(a) |
110,327 | 250,442 | ||||||
Kala Pharmaceuticals Inc.(a)(b) |
116,401 | 304,971 | ||||||
Kaleido Biosciences Inc.(a)(b) |
47,736 | 260,639 | ||||||
KemPharm Inc.(a)(b) |
67,150 | 626,510 | ||||||
Landos Biopharma Inc.(a) |
11,188 | 163,345 | ||||||
Lannett Co. Inc.(a)(b) |
80,105 | 240,315 | ||||||
Lipocine Inc.(a)(b) |
207,343 | 226,004 | ||||||
Liquidia Corp.(a)(b) |
80,840 | 223,118 | ||||||
Longboard Pharmaceuticals Inc.(a)(b) |
16,282 | 145,073 | ||||||
Lyra Therapeutics Inc.(a)(b) |
15,776 | 144,193 | ||||||
Marinus Pharmaceuticals Inc.(a)(b) |
86,634 | 985,895 | ||||||
MediWound Ltd.(a)(b) |
40,177 | 133,789 | ||||||
Mind Medicine MindMed Inc.(a) |
821,470 | 1,914,025 | ||||||
MyMD Pharmaceuticals Inc.(a)(b) |
87,396 | 629,251 | ||||||
Novan Inc.(a) |
43,982 | 358,013 | ||||||
Ocular Therapeutix Inc.(a)(b) |
179,909 | 1,799,090 | ||||||
Ocuphire Pharma Inc.(a)(b) |
25,851 | 133,133 | ||||||
Odonate Therapeutics Inc.(a)(b) |
38,556 | 112,198 | ||||||
Omthera Pharmaceuticals Inc., NVS(c) |
60,904 | 15,716 | ||||||
Opiant Pharmaceuticals Inc.(a) |
9,776 | 251,634 | ||||||
Optinose Inc.(a)(b) |
89,553 | 268,659 | ||||||
Oramed Pharmaceuticals Inc.(a)(b) |
70,984 | 1,560,228 | ||||||
Osmotica Pharmaceuticals PLC(a)(b) |
39,237 | 115,749 | ||||||
Otonomy Inc.(a) |
134,655 | 258,538 | ||||||
Palisade Bio Inc.(a)(b) |
26,713 | 70,789 | ||||||
Paratek Pharmaceuticals Inc.(a)(b) |
112,484 | 546,672 | ||||||
Petros Pharmaceuticals Inc.(a)(b) |
13,809 | 27,618 | ||||||
PLx Pharma Inc.(a) |
41,766 | 806,084 | ||||||
Processa Pharmaceuticals Inc.(a)(b) |
24,921 | 213,573 | ||||||
ProPhase Labs Inc. |
22,396 | 116,459 | ||||||
Provention Bio Inc.(a)(b) |
130,423 | 834,707 | ||||||
Pulmatrix Inc.(a)(b) |
135,994 | 108,782 | ||||||
Rain Therapeutics Inc.(a)(b) |
18,150 | 271,524 | ||||||
Recro Pharma Inc.(a)(b) |
96,272 | 198,320 | ||||||
Relmada Therapeutics Inc.(a) |
37,205 | 975,143 | ||||||
Restorbio Inc. |
8,569 | 9,410 | ||||||
Reviva Pharmaceuticals Holdings Inc.(a)(b) |
30,946 | 125,950 |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
Satsuma Pharmaceuticals Inc.(a)(b) |
48,876 | $ | 227,762 | |||||
scPharmaceuticals Inc.(a)(b) |
30,921 | 205,625 | ||||||
SCYNEXIS Inc.(a)(b) |
48,133 | 255,105 | ||||||
Seelos Therapeutics Inc.(a)(b) |
228,219 | 550,008 | ||||||
SIGA Technologies Inc.(a)(b) |
114,925 | 849,296 | ||||||
Strongbridge Biopharma PLC(a) |
113,481 | 231,501 | ||||||
Tarsus Pharmaceuticals Inc.(a) |
19,815 | 427,013 | ||||||
Terns Pharmaceuticals Inc.(a)(b) |
32,844 | 342,234 | ||||||
TFF Pharmaceuticals Inc.(a)(b) |
49,508 | 382,202 | ||||||
TherapeuticsMD Inc.(a)(b) |
913,152 | 677,011 | ||||||
Timber Pharmaceuticals Inc.(a)(b) |
71,972 | 65,473 | ||||||
Trevi Therapeutics Inc.(a) |
26,034 | 35,667 | ||||||
Tricida Inc.(a)(b) |
68,710 | 318,814 | ||||||
Verrica Pharmaceuticals Inc.(a)(b) |
30,653 | 383,163 | ||||||
VYNE Therapeutics Inc.(a) |
112,866 | 156,884 | ||||||
WaVe Life Sciences Ltd.(a) |
89,669 | 439,378 | ||||||
Xeris Pharmaceuticals Inc.(a)(b) |
155,185 | 380,203 | ||||||
Zynerba Pharmaceuticals Inc.(a)(b) |
94,680 | 401,443 | ||||||
|
|
|||||||
47,593,728 | ||||||||
Professional Services — 1.5% | ||||||||
Acacia Research Corp.(a) |
114,966 | 780,619 | ||||||
Akerna Corp.(a)(b) |
55,543 | 156,631 | ||||||
Atlas Technical Consultants Inc.(a) |
32,904 | 334,634 | ||||||
Barrett Business Services Inc. |
17,727 | 1,351,861 | ||||||
BGSF Inc. |
24,214 | 309,697 | ||||||
CRA International Inc. |
16,702 | 1,659,177 | ||||||
DLH Holdings Corp.(a) |
11,908 | 146,468 | ||||||
Forrester Research Inc.(a) |
26,525 | 1,306,622 | ||||||
Franklin Covey Co.(a)(b) |
29,105 | 1,187,193 | ||||||
GP Strategies Corp.(a)(b) |
29,392 | 608,414 | ||||||
Heidrick & Struggles International Inc. |
45,805 | 2,044,277 | ||||||
Hill International Inc.(a)(b) |
104,242 | 215,781 | ||||||
HireQuest Inc.(b) |
11,861 | 229,273 | ||||||
Hudson Global Inc.(a) |
6,702 | 106,562 | ||||||
Kelly Services Inc., Class A, NVS |
83,077 | 1,568,494 | ||||||
Kforce Inc. |
48,071 | 2,866,954 | ||||||
Mastech Digital Inc.(a) |
9,479 | 161,238 | ||||||
Mistras Group Inc.(a) |
47,326 | 480,832 | ||||||
RCM Technologies Inc.(a)(b) |
20,644 | 125,516 | ||||||
Red Violet Inc.(a)(b) |
17,562 | 453,275 | ||||||
Resources Connection Inc. |
76,099 | 1,200,842 | ||||||
ShiftPixy Inc.(a)(b) |
23,009 | 25,540 | ||||||
Volt Information Sciences Inc.(a)(b) |
34,364 | 121,992 | ||||||
Where Food Comes From Inc.(b) |
5,991 | 82,556 | ||||||
Willdan Group Inc.(a) |
26,139 | 930,287 | ||||||
|
|
|||||||
18,454,735 | ||||||||
Real Estate Management & Development — 0.4% | ||||||||
Alset EHome International Inc.(a)(b) |
27,309 | 64,176 | ||||||
Altisource Asset Management Corp.(a) |
3,153 | 70,091 | ||||||
Altisource Portfolio Solutions SA(a) |
11,650 | 115,102 | ||||||
American Realty Investors Inc.(a) |
4,662 | 61,259 | ||||||
AMREP Corp.(a) |
8,178 | 128,395 | ||||||
Fathom Holdings Inc.(a)(b) |
12,520 | 334,284 | ||||||
Forestar Group Inc.(a) |
39,796 | 741,399 | ||||||
FRP Holdings Inc.(a) |
15,938 | 891,253 | ||||||
InterGroup Corp. (The)(a) |
1,117 | 51,203 | ||||||
JW Mays Inc.(a) |
1,312 | 50,197 | ||||||
Maui Land & Pineapple Co. Inc.(a)(b) |
18,491 | 191,567 | ||||||
Rafael Holdings Inc., Class B(a)(b) |
22,941 | 704,977 |
24 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Real Estate Management & Development (continued) | ||||||||
Stratus Properties Inc.(a) |
13,944 | $ | 449,554 | |||||
Tejon Ranch Co.(a) |
50,497 | 896,827 | ||||||
Transcontinental Realty Investors Inc.(a) |
3,081 | 123,240 | ||||||
Trinity Place Holdings Inc.(a) |
46,551 | 91,240 | ||||||
|
|
|||||||
4,964,764 | ||||||||
Road & Rail — 0.3% | ||||||||
Covenant Logistics Group Inc., Class A(a)(b) |
28,655 | 792,311 | ||||||
Daseke Inc.(a)(b) |
94,485 | 870,207 | ||||||
HyreCar Inc.(a) |
41,052 | 348,942 | ||||||
PAM Transportation Services Inc.(a) |
8,696 | 391,146 | ||||||
Patriot Transportation Holding Inc. |
5,412 | 64,240 | ||||||
U.S. Xpress Enterprises Inc., Class A(a)(b) |
63,773 | 550,361 | ||||||
Universal Logistics Holdings Inc. |
18,825 | 378,006 | ||||||
USA Truck Inc.(a)(b) |
19,252 | 294,170 | ||||||
Yellow Corp.(a)(b) |
118,592 | 670,045 | ||||||
|
|
|||||||
4,359,428 | ||||||||
Semiconductors & Semiconductor Equipment — 2.2% | ||||||||
Aehr Test Systems(a)(b) |
47,732 | 651,542 | ||||||
Alpha & Omega Semiconductor Ltd.(a) |
50,126 | 1,572,453 | ||||||
Amtech Systems Inc.(a)(b) |
27,424 | 313,456 | ||||||
Atomera Inc.(a)(b) |
47,637 | 1,099,938 | ||||||
AXT Inc.(a)(b) |
93,894 | 782,137 | ||||||
CEVA Inc.(a) |
53,376 | 2,277,554 | ||||||
CVD Equipment Corp.(a)(b) |
12,122 | 55,519 | ||||||
CyberOptics Corp.(a) |
16,690 | 593,830 | ||||||
DSP Group Inc.(a)(b) |
52,762 | 1,156,015 | ||||||
eMagin Corp.(a) |
159,422 | 360,294 | ||||||
Everspin Technologies Inc.(a)(b) |
35,926 | 232,801 | ||||||
GSI Technology Inc.(a)(b) |
37,775 | 199,452 | ||||||
Ichor Holdings Ltd.(a) |
65,773 | 2,702,613 | ||||||
Impinj Inc.(a)(b) |
44,149 | 2,522,232 | ||||||
inTEST Corp.(a)(b) |
24,345 | 279,481 | ||||||
Kopin Corp.(a)(b) |
182,109 | 934,219 | ||||||
Meta Materials Inc.(a)(b) |
516,573 | 2,985,792 | ||||||
NeoPhotonics Corp.(a) |
120,431 | 1,048,954 | ||||||
NVE Corp. |
11,365 | 727,019 | ||||||
PDF Solutions Inc.(a) |
69,545 | 1,602,317 | ||||||
Photronics Inc.(a) |
143,110 | 1,950,589 | ||||||
Pixelworks Inc.(a)(b) |
119,494 | 571,181 | ||||||
QuickLogic Corp.(a)(b) |
25,662 | 137,548 | ||||||
SkyWater Technology Inc.(a)(b) |
19,170 | 521,424 | ||||||
SMART Global Holdings Inc.(a)(b) |
41,506 | 1,847,017 | ||||||
Summit Wireless Technologies Inc.(a) |
26,185 | 73,318 | ||||||
|
|
|||||||
27,198,695 | ||||||||
Software — 2.0% | ||||||||
A10 Networks Inc.(a) |
142,529 | 1,921,291 | ||||||
Agilysys Inc.(a) |
46,830 | 2,452,019 | ||||||
Alfi Inc.(a)(b) |
9,521 | 62,458 | ||||||
American Software Inc./GA, Class A |
74,459 | 1,768,401 | ||||||
Asure Software Inc.(a) |
40,802 | 367,626 | ||||||
Auddia Inc.(a)(b) |
15,746 | 38,105 | ||||||
AudioEye Inc.(a)(b) |
16,380 | 180,671 | ||||||
Aware Inc./MA(a) |
31,175 | 127,506 | ||||||
Benefitfocus Inc.(a)(b) |
58,898 | 653,768 | ||||||
BSQUARE Corp.(a)(b) |
27,865 | 67,155 | ||||||
ChannelAdvisor Corp.(a) |
69,040 | 1,741,879 | ||||||
Cleanspark Inc.(a)(b) |
78,368 | 908,285 | ||||||
Color Star Technology Co. Ltd.(a)(b) |
207,368 | 113,638 | ||||||
DatChat Inc.(a)(b) |
4,664 | 63,664 |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Digimarc Corp.(a)(b) |
29,915 | $ | 1,030,273 | |||||
Duos Technologies Group Inc.(a)(b) |
8,297 | 53,018 | ||||||
eGain Corp.(a) |
48,229 | 491,936 | ||||||
GTY Technology Holdings Inc.(a)(b) |
75,447 | 567,361 | ||||||
Intelligent Systems Corp.(a) |
16,991 | 690,004 | ||||||
Intrusion Inc.(a) |
38,647 | 156,907 | ||||||
Issuer Direct Corp.(a) |
6,828 | 178,552 | ||||||
Kaspien Holdings Inc.(a) |
2,362 | 38,382 | ||||||
LivePerson Inc. |
135,358 | 404,720 | ||||||
Mind CTI Ltd. |
37,737 | 119,249 | ||||||
Mitek Systems Inc.(a)(b) |
101,466 | 1,877,121 | ||||||
Net Element Inc.(a) |
11,473 | 94,538 | ||||||
NetSol Technologies Inc.(a)(b) |
26,510 | 121,416 | ||||||
Oblong Inc.(a)(b) |
36,705 | 76,713 | ||||||
OneSpan Inc.(a) |
83,464 | 1,567,454 | ||||||
Park City Group Inc.(a) |
29,913 | 163,026 | ||||||
Phunware Inc.(a)(b) |
169,560 | 157,487 | ||||||
Qumu Corp.(a)(b) |
41,890 | 103,887 | ||||||
RealNetworks Inc.(a)(b) |
83,081 | 132,099 | ||||||
Rekor Systems Inc.(a)(b) |
73,647 | 846,204 | ||||||
Rimini Street Inc.(a)(b) |
102,840 | 992,406 | ||||||
Seachange International Inc.(a)(b) |
102,229 | 108,363 | ||||||
ShotSpotter Inc.(a)(b) |
19,943 | 725,327 | ||||||
SilverSun Technologies Inc.(b) |
6,591 | 40,007 | ||||||
Smith Micro Software Inc.(a) |
110,403 | 534,350 | ||||||
SRAX Inc.(a) |
49,878 | 266,349 | ||||||
Synchronoss Technologies Inc.(a)(b) |
147,610 | 354,264 | ||||||
Verb Technology Co. Inc.(a)(b) |
133,588 | 256,489 | ||||||
Veritone Inc.(a)(b) |
67,240 | 1,606,364 | ||||||
VirnetX Holding Corp.(a) |
148,876 | 583,594 | ||||||
Zix Corp.(a) |
125,226 | 885,348 | ||||||
|
|
|||||||
25,689,674 | ||||||||
Specialty Retail — 3.0% | ||||||||
America’s Car-Mart Inc./TX(a) |
14,784 | 1,726,476 | ||||||
Barnes & Noble Education Inc.(a)(b) |
90,013 | 899,230 | ||||||
Big 5 Sporting Goods Corp. |
48,922 | 1,127,163 | ||||||
Build-A-Bear Workshop Inc., Class A(a)(b) |
33,892 | 574,130 | ||||||
Caleres Inc. |
87,385 | 1,941,695 | ||||||
CarLotz Inc.(a)(b) |
167,277 | 637,325 | ||||||
Cato Corp. (The), Class A |
46,453 | 768,333 | ||||||
Chico’s FAS Inc.(a) |
282,612 | 1,268,928 | ||||||
Citi Trends Inc.(a) |
20,656 | 1,507,062 | ||||||
Conn’s Inc.(a)(b) |
41,964 | 958,038 | ||||||
Container Store Group Inc. (The)(a)(b) |
74,743 | 711,553 | ||||||
Envela Corp.(a)(b) |
16,149 | 67,180 | ||||||
Express Inc.(a) |
150,998 | 712,711 | ||||||
Genesco Inc.(a)(b) |
34,765 | 2,006,983 | ||||||
Haverty Furniture Companies Inc. |
39,561 | 1,333,601 | ||||||
Hibbett Inc. |
37,890 | 2,680,339 | ||||||
J Jill Inc.(a)(b) |
10,185 | 177,015 | ||||||
JOANN Inc.(b) |
28,290 | 315,151 | ||||||
Kirkland’s Inc.(a) |
32,881 | 631,644 | ||||||
Lazydays Holdings Inc.(a)(b) |
17,376 | 370,804 | ||||||
LMP Automotive Holdings Inc.(a)(b) |
13,988 | 215,275 | ||||||
Lumber Liquidators Holdings Inc.(a) |
67,401 | 1,259,051 | ||||||
MarineMax Inc.(a)(b) |
49,893 | 2,420,808 | ||||||
OneWater Marine Inc., Class A |
24,132 | 970,348 | ||||||
Party City Holdco Inc.(a)(b) |
261,233 | 1,854,754 | ||||||
Shift Technologies Inc.(a)(b) |
145,724 | 1,011,325 | ||||||
Shoe Carnival Inc. |
41,901 | 1,358,430 |
S C H E D U L E O F I N V E S T M E N T S |
25 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Specialty Retail (continued) | ||||||||
Sportsman’s Warehouse Holdings Inc.(a) |
102,837 | $ | 1,809,931 | |||||
Tilly’s Inc., Class A |
53,423 | 748,456 | ||||||
TravelCenters of America Inc.(a)(b) |
29,406 | 1,464,125 | ||||||
Winmark Corp. |
8,118 | 1,745,614 | ||||||
Xcel Brands Inc.(a) |
22,407 | 33,386 | ||||||
Zumiez Inc.(a) |
51,645 | 2,053,405 | ||||||
|
|
|||||||
37,360,269 | ||||||||
Technology Hardware, Storage & Peripherals — 0.5% | ||||||||
AstroNova Inc.(a) |
15,804 | 237,850 | ||||||
Avid Technology Inc.(a) |
85,439 | 2,470,896 | ||||||
Boxlight Corp., Class A(a) |
113,290 | 254,903 | ||||||
Eastman Kodak Co.(a)(b) |
105,511 | 718,530 | ||||||
Immersion Corp.(a) |
62,394 | 426,775 | ||||||
Intevac Inc.(a) |
57,371 | 274,233 | ||||||
Movano Inc.(a)(b) |
26,146 | 94,126 | ||||||
One Stop Systems Inc.(a)(b) |
33,179 | 166,890 | ||||||
Quantum Corp.(a) |
134,964 | 699,114 | ||||||
Socket Mobile Inc.(a) |
14,804 | 93,265 | ||||||
TransAct Technologies Inc.(a) |
21,302 | 296,098 | ||||||
Turtle Beach Corp.(a)(b) |
36,160 | 1,005,971 | ||||||
|
|
|||||||
6,738,651 | ||||||||
Textiles, Apparel & Luxury Goods — 0.5% | ||||||||
Charles & Colvard Ltd.(a) |
65,628 | 195,571 | ||||||
Crown Crafts Inc. |
19,458 | 143,989 | ||||||
Culp Inc. |
28,314 | 364,684 | ||||||
Delta Apparel Inc.(a) |
14,884 | 406,482 | ||||||
Fossil Group Inc.(a)(b) |
113,195 | 1,341,361 | ||||||
Jerash Holdings U.S. Inc.(b) |
8,126 | 54,607 | ||||||
Lakeland Industries Inc.(a)(b) |
19,085 | 400,785 | ||||||
Movado Group Inc. |
37,673 | 1,186,323 | ||||||
Rocky Brands Inc. |
16,081 | 765,616 | ||||||
Superior Group of Companies Inc. |
27,596 | 642,711 | ||||||
Unifi Inc.(a) |
31,145 | 683,010 | ||||||
Vera Bradley Inc.(a) |
61,242 | 576,287 | ||||||
Vince Holding Corp.(a)(b) |
8,348 | 68,908 | ||||||
|
|
|||||||
6,830,334 | ||||||||
Thrifts & Mortgage Finance — 2.3% | ||||||||
1895 Bancorp of Wisconsin Inc.(a) |
7,193 | 78,548 | ||||||
Blue Foundry Bancorp(a)(b) |
66,943 | 923,144 | ||||||
Bogota Financial Corp.(a)(b) |
12,085 | 124,959 | ||||||
Bridgewater Bancshares Inc.(a)(b) |
49,096 | 859,671 | ||||||
Broadway Financial Corp./DE(a)(b) |
54,430 | 180,708 | ||||||
CBM Bancorp Inc. |
5,284 | 85,706 | ||||||
CF Bankshares Inc. |
8,746 | 178,856 | ||||||
Cincinnati Bancorp Inc.(a) |
5,545 | 82,731 | ||||||
Elmira Savings Bank |
7,274 | 96,817 | ||||||
ESSA Bancorp. Inc. |
21,294 | 353,480 | ||||||
Federal Agricultural Mortgage Corp., Class C, NVS |
21,682 | 2,352,931 | ||||||
FFBW Inc.(a) |
14,363 | 170,345 | ||||||
Finance
of America Companies Inc., |
82,322 | 407,494 | ||||||
First Seacoast Bancorp.(a) |
6,354 | 62,142 | ||||||
FS Bancorp. Inc. |
17,096 | 591,693 | ||||||
Greene County Bancorp. Inc. |
8,264 | 300,231 | ||||||
Guaranty Federal Bancshares Inc. |
7,741 | 186,868 | ||||||
Hingham Institution For Savings (The) |
3,394 | 1,142,760 | ||||||
HMN Financial Inc.(a) |
9,414 | 220,005 | ||||||
Home Bancorp. Inc. |
18,238 | 705,446 | ||||||
Home Federal Bancorp. Inc./LA |
6,445 | 122,391 | ||||||
Home Point Capital Inc. |
19,010 | 78,321 |
Security | Shares | Value | ||||||
Thrifts & Mortgage Finance (continued) | ||||||||
HomeStreet Inc. |
47,379 | $ | 1,949,646 | |||||
HV Bancorp Inc.(a) |
2,914 | 63,962 | ||||||
IF Bancorp. Inc. |
6,049 | 137,131 | ||||||
Impac Mortgage Holdings Inc.(a) |
30,883 | 43,545 | ||||||
Kentucky First Federal Bancorp |
9,931 | 70,907 | ||||||
Lake Shore Bancorp. Inc. |
5,041 | 75,565 | ||||||
Luther Burbank Corp. |
37,386 | 501,346 | ||||||
Magyar Bancorp Inc.(a) |
7,580 | 85,730 | ||||||
Merchants Bancorp./IN |
23,295 | 919,454 | ||||||
Meridian Bancorp. Inc. |
110,912 | 2,302,533 | ||||||
Mid-Southern Bancorp Inc. |
5,911 | 89,847 | ||||||
Northeast Community Bancorp Inc., NVS |
22,739 | 247,628 | ||||||
Northfield Bancorp. Inc. |
106,303 | 1,824,160 | ||||||
Oconee Federal Financial Corp. |
2,627 | 60,946 | ||||||
Ocwen Financial Corp.(a) |
19,253 | 541,587 | ||||||
OP Bancorp. |
29,013 | 297,673 | ||||||
PB Bankshares Inc.(a)(b) |
6,180 | 83,615 | ||||||
PCSB Financial Corp. |
32,156 | 592,957 | ||||||
Pioneer Bancorp. Inc./NY(a)(b) |
28,560 | 360,998 | ||||||
Ponce de Leon Federal Bank(a)(b) |
16,577 | 240,532 | ||||||
Premier Financial Corp. |
88,519 | 2,818,445 | ||||||
Provident Bancorp. Inc. |
36,009 | 576,864 | ||||||
Provident Financial Holdings Inc. |
14,287 | 244,022 | ||||||
Prudential Bancorp. Inc. |
16,032 | 244,648 | ||||||
Randolph Bancorp Inc.(a) |
8,256 | 178,164 | ||||||
Rhinebeck Bancorp Inc.(a) |
7,237 | 78,883 | ||||||
Riverview Bancorp. Inc. |
50,226 | 365,143 | ||||||
Security National Financial Corp., Class A(a) |
23,320 | 191,924 | ||||||
Severn Bancorp. Inc. |
18,809 | 235,489 | ||||||
Southern Missouri Bancorp. Inc. |
18,170 | 815,651 | ||||||
Sterling Bancorp Inc./MI(a) |
40,607 | 209,532 | ||||||
TC Bancshares Inc.(a)(b) |
12,208 | 170,668 | ||||||
Territorial Bancorp. Inc. |
19,137 | 485,697 | ||||||
Texas Community Bancshares Inc.(a)(b) |
6,502 | 100,456 | ||||||
Timberland Bancorp. Inc./WA |
18,508 | 535,807 | ||||||
Velocity Financial Inc.(a)(b) |
20,117 | 264,740 | ||||||
Waterstone Financial Inc. |
52,531 | 1,076,360 | ||||||
Western New England Bancorp. Inc. |
49,620 | 423,259 | ||||||
William Penn Bancorp. Inc.(b) |
26,444 | 322,881 | ||||||
WVS Financial Corp. |
4,166 | 66,489 | ||||||
|
|
|||||||
29,200,131 | ||||||||
Tobacco — 0.2% | ||||||||
22nd Century Group Inc.(a)(b) |
376,973 | 1,115,840 | ||||||
Turning Point Brands Inc. |
34,148 | 1,630,567 | ||||||
|
|
|||||||
2,746,407 | ||||||||
Trading Companies & Distributors — 1.0% | ||||||||
Alta Equipment Group Inc.(a) |
44,073 | 605,122 | ||||||
BlueLinx Holdings Inc.(a)(b) |
21,648 | 1,058,154 | ||||||
CAI International Inc. |
38,188 | 2,135,091 | ||||||
DXP Enterprises Inc./TX(a) |
41,976 | 1,241,230 | ||||||
EVI Industries Inc.(a)(b) |
13,425 | 365,160 | ||||||
Hudson Technologies Inc.(a) |
91,741 | 323,846 | ||||||
Huttig Building Products Inc.(a)(b) |
58,965 | 313,694 | ||||||
India Globalization Capital Inc.(a)(b) |
97,801 | 144,746 | ||||||
Karat Packaging Inc.(a) |
10,797 | 227,061 | ||||||
Lawson Products Inc./DE(a)(b) |
11,074 | 553,811 | ||||||
Titan Machinery Inc.(a) |
46,053 | 1,193,233 | ||||||
Transcat Inc.(a)(b) |
16,578 | 1,068,949 | ||||||
Veritiv Corp.(a)(b) |
34,651 | 3,103,344 |
26 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Trading Companies & Distributors (continued) | ||||||||
Willis Lease Finance Corp.(a) |
6,436 | $ | 239,355 | |||||
|
|
|||||||
12,572,796 | ||||||||
Water Utilities — 0.3% | ||||||||
Artesian Resources Corp., Class A, NVS |
19,331 | 737,864 | ||||||
Cadiz Inc.(a)(b) |
49,861 | 351,021 | ||||||
Consolidated Water Co. Ltd. |
34,461 | 392,855 | ||||||
Global Water Resources Inc. |
29,323 | 548,927 | ||||||
Pure Cycle Corp.(a) |
44,790 | 596,155 | ||||||
York Water Co. (The) |
30,645 | 1,338,574 | ||||||
|
|
|||||||
3,965,396 | ||||||||
Wireless Telecommunication Services — 0.2% | ||||||||
Gogo Inc.(a)(b) |
139,627 | 2,415,547 | ||||||
Spok Holdings Inc. |
42,121 | 430,477 | ||||||
|
|
|||||||
2,846,024 | ||||||||
|
|
|||||||
Total
Common Stocks — 100.0% |
1,255,461,978 | |||||||
|
|
|||||||
Preferred Stocks |
| |||||||
Hotels, Restaurants & Leisure — 0.0% | ||||||||
FAT Brands Inc., 8.25%(a) |
960 | 22,512 | ||||||
|
|
|||||||
Total
Preferred Stocks — 0.0% |
22,512 | |||||||
|
|
|||||||
Rights |
| |||||||
Real Estate Management & Development — 0.0% | ||||||||
Capital Senior Living Corp., (Expires 10/18/21)(a) |
3,420 | 11,013 | ||||||
|
|
|||||||
Total
Rights — 0.0% |
11,013 | |||||||
|
|
Security | Shares | Value | ||||||
Short-Term Investments |
| |||||||
Money Market Funds — 16.3% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.05%(e)(f)(g) |
204,294,845 | $ | 204,396,992 | |||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(e)(f) |
860,000 | 860,000 | ||||||
|
|
|||||||
205,256,992 | ||||||||
|
|
|||||||
Total
Short-Term Investments — 16.3% |
|
205,256,992 | ||||||
|
|
|||||||
Total
Investments in Securities — 116.3% |
|
1,460,752,495 | ||||||
Other Assets, Less Liabilities — (16.3)% |
(204,514,680 | ) | ||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 1,256,237,815 | ||||||
|
|
(a) |
Non-income producing security. |
(b) |
All or a portion of this security is on loan. |
(c) |
Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) |
Rounds to less than $1. |
(e) |
Affiliate of the Fund. |
(f) |
Annualized 7-day yield as of period end. |
(g) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 03/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 09/30/21 |
Shares Held at |
Income |
Capital Gain |
| ||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 216,470,830 | $ | — | $ | (12,051,780 | )(a) | $ | (11,158 | ) | $ | (10,900 | ) | $ | 204,396,992 | 204,294,845 | $ | 1,618,978 | (b) | $ | — | |||||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
680,000 | 180,000 | (a) | — | — | — | 860,000 | 860,000 | 78 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
$ | (11,158 | ) | $ | (10,900 | ) | $ | 205,256,992 | $ | 1,619,056 | $ | — | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 O F I N V E S T M E N T S |
27 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Micro-Cap 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 | ||||||||||||||
Russell 2000 E-Mini Index |
26 | 12/17/21 | $ 2,861 | $ | 1,217 | |||||||||
|
|
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
||||
Equity Contracts |
||||
|
||||
Assets — Derivative Financial Instruments |
||||
Futures contracts |
||||
Unrealized appreciation on futures contracts(a) |
$ | 1,217 | ||
|
|
(a) |
Net cumulative appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
||||
Equity Contracts |
||||
|
||||
Net Realized Gain (Loss) from: |
||||
Futures contracts |
$ | (225,511 | ) | |
|
|
|||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
Futures contracts |
$ | 1,173 | ||
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
||||
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 2,137,513 | ||
|
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 1,255,321,966 | $ | 9,410 | $ | 130,602 | $ | 1,255,461,978 | ||||||||
Preferred Stocks |
22,512 | — | — | 22,512 | ||||||||||||
Rights |
— | 11,013 | — | 11,013 | ||||||||||||
Money Market Funds |
205,256,992 | — | — | 205,256,992 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 1,460,601,470 | $ | 20,423 | $ | 130,602 | $ | 1,460,752,495 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative financial instruments(a) |
||||||||||||||||
Assets |
||||||||||||||||
Futures Contracts |
$ | 1,217 | $ | — | $ | — | $ | 1,217 | ||||||||
|
|
|
|
|
|
|
|
(a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
28 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) September 30, 2021 |
iShares® Russell 2500 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
||||||||
Aerospace & Defense — 1.1% | ||||||||
Axon Enterprise Inc.(a)(b) |
3,293 | $ | 576,341 | |||||
BWX Technologies Inc. |
4,813 | 259,228 | ||||||
Curtiss-Wright Corp. |
2,079 | 262,328 | ||||||
Hexcel Corp.(a) |
4,265 | 253,298 | ||||||
Howmet Aerospace Inc. |
19,752 | 616,263 | ||||||
Huntington Ingalls Industries Inc. |
2,010 | 388,051 | ||||||
Mercury Systems Inc.(a)(b) |
2,827 | 134,056 | ||||||
Spirit AeroSystems Holdings Inc., Class A |
5,293 | 233,898 | ||||||
Textron Inc.(b) |
11,469 | 800,651 | ||||||
Virgin Galactic Holdings Inc.(a)(b) |
9,124 | 230,837 | ||||||
|
|
|||||||
3,754,951 | ||||||||
Air Freight & Logistics — 0.1% | ||||||||
GXO Logistics Inc.(a)(b) |
4,931 | 386,788 | ||||||
|
|
|||||||
Airlines — 0.4% | ||||||||
Alaska Air Group Inc.(a) |
6,224 | 364,726 | ||||||
American Airlines Group Inc.(a) |
32,423 | 665,320 | ||||||
Copa Holdings SA, Class A, NVS(a) |
1,587 | 129,150 | ||||||
JetBlue Airways Corp.(a)(b) |
16,155 | 247,010 | ||||||
|
|
|||||||
1,406,206 | ||||||||
Auto Components — 0.5% | ||||||||
BorgWarner Inc. |
12,227 | 528,328 | ||||||
Gentex Corp. |
12,201 | 402,389 | ||||||
Lear Corp. |
3,041 | 475,856 | ||||||
QuantumScape Corp.(a)(b) |
10,500 | 257,670 | ||||||
|
|
|||||||
1,664,243 | ||||||||
Automobiles — 0.2% | ||||||||
Harley-Davidson Inc. |
7,815 | 286,107 | ||||||
Thor Industries Inc. |
2,717 | 333,539 | ||||||
|
|
|||||||
619,646 | ||||||||
Banks — 2.5% | ||||||||
Bank of Hawaii Corp. |
2,010 | 165,162 | ||||||
Bank OZK |
6,271 | 269,528 | ||||||
BOK Financial Corp. |
1,560 | 139,698 | ||||||
Comerica Inc. |
6,832 | 549,976 | ||||||
Commerce Bancshares Inc. |
5,430 | 378,362 | ||||||
Cullen/Frost Bankers Inc. |
2,915 | 345,777 | ||||||
East West Bancorp. Inc. |
7,204 | 558,598 | ||||||
First Citizens BancShares Inc./NC, Class A(b) |
308 | 259,696 | ||||||
First Hawaiian Inc. |
6,574 | 192,947 | ||||||
First Horizon Corp. |
27,934 | 455,045 | ||||||
FNB Corp. |
16,250 | 188,825 | ||||||
PacWest Bancorp. |
5,918 | 268,204 | ||||||
People’s United Financial Inc. |
21,702 | 379,134 | ||||||
Pinnacle Financial Partners Inc. |
3,792 | 356,751 | ||||||
Popular Inc. |
4,041 | 313,864 | ||||||
Prosperity Bancshares Inc. |
4,557 | 324,139 | ||||||
Signature Bank/New York NY |
3,014 | 820,652 | ||||||
Sterling Bancorp./DE |
9,750 | 243,360 | ||||||
Synovus Financial Corp. |
7,410 | 325,225 | ||||||
Umpqua Holdings Corp. |
11,223 | 227,266 | ||||||
Webster Financial Corp. |
4,554 | 248,011 | ||||||
Western Alliance Bancorp |
5,146 | 559,988 | ||||||
Wintrust Financial Corp. |
2,892 | 232,430 | ||||||
Zions Bancorp. NA |
8,149 | 504,342 | ||||||
|
|
|||||||
8,306,980 |
Security | Shares | Value | ||||||
Beverages — 0.1% |
| |||||||
Boston Beer Co. Inc. (The), Class A, NVS(a) |
475 | $ | 242,131 | |||||
|
|
|||||||
Biotechnology — 1.3% | ||||||||
Acceleron Pharma Inc.(a)(b) |
2,670 | 459,507 | ||||||
Exelixis Inc.(a)(b) |
15,716 | 332,236 | ||||||
Ionis Pharmaceuticals Inc.(a)(b) |
7,158 | 240,079 | ||||||
Iovance Biotherapeutics Inc.(a)(b) |
7,432 | 183,273 | ||||||
Mirati Therapeutics Inc.(a)(b) |
2,003 | 354,351 | ||||||
Natera Inc.(a) |
4,232 | 471,614 | ||||||
Neurocrine Biosciences Inc.(a)(b) |
4,737 | 454,326 | ||||||
Novavax Inc.(a)(b) |
3,755 | 778,449 | ||||||
Sage Therapeutics Inc.(a)(b) |
2,629 | 116,491 | ||||||
Sarepta Therapeutics Inc.(a)(b) |
3,895 | 360,210 | ||||||
Ultragenyx Pharmaceutical Inc.(a) |
3,289 | 296,635 | ||||||
United Therapeutics Corp.(a) |
2,250 | 415,305 | ||||||
|
|
|||||||
4,462,476 | ||||||||
Building Products — 1.5% | ||||||||
A O Smith Corp. |
6,754 | 412,467 | ||||||
Advanced Drainage Systems Inc. |
3,086 | 333,813 | ||||||
Allegion PLC |
4,558 | 602,476 | ||||||
Armstrong World Industries Inc. |
2,406 | 229,701 | ||||||
AZEK Co. Inc. (The)(a) |
5,686 | 207,710 | ||||||
Builders FirstSource Inc.(a)(b) |
10,396 | 537,889 | ||||||
Carlisle Companies Inc. |
2,605 | 517,848 | ||||||
Fortune Brands Home & Security Inc. |
7,052 | 630,590 | ||||||
Lennox International Inc. |
1,710 | 503,031 | ||||||
Owens Corning |
5,211 | 445,540 | ||||||
Trex Co. Inc.(a) |
5,906 | 601,998 | ||||||
|
|
|||||||
5,023,063 | ||||||||
Capital Markets — 1.8% | ||||||||
Affiliated Managers Group Inc. |
2,097 | 316,836 | ||||||
Ares Management Corp., Class A |
7,018 | 518,139 | ||||||
Carlyle Group Inc. (The) |
8,284 | 391,667 | ||||||
Cboe Global Markets Inc. |
5,401 | 668,968 | ||||||
Evercore Inc., Class A |
1,977 | 264,265 | ||||||
FactSet Research Systems Inc. |
1,925 | 759,951 | ||||||
Invesco Ltd. |
17,024 | 410,449 | ||||||
Janus Henderson Group PLC |
7,930 | 327,747 | ||||||
Jefferies Financial Group Inc. |
11,166 | 414,593 | ||||||
Lazard Ltd., Class A |
5,105 | 233,809 | ||||||
LPL Financial Holdings Inc. |
4,064 | 637,073 | ||||||
Morningstar Inc. |
1,193 | 309,023 | ||||||
SEI Investments Co. |
5,523 | 327,514 | ||||||
Stifel Financial Corp. |
5,205 | 353,732 | ||||||
Virtu Financial Inc., Class A |
4,676 | 114,235 | ||||||
|
|
|||||||
6,048,001 | ||||||||
Chemicals — 1.3% | ||||||||
Ashland Global Holdings Inc. |
2,804 | 249,892 | ||||||
Axalta Coating Systems Ltd.(a)(b) |
10,530 | 307,371 | ||||||
CF Industries Holdings Inc. |
10,915 | 609,275 | ||||||
Chemours Co. (The) |
8,349 | 242,622 | ||||||
Diversey Holdings Ltd.(a)(b) |
2,624 | 42,089 | ||||||
Element Solutions Inc. |
11,807 | 255,976 | ||||||
Huntsman Corp. |
10,759 | 318,359 | ||||||
Mosaic Co. (The) |
17,530 | 626,172 | ||||||
NewMarket Corp. |
343 | 116,198 | ||||||
Olin Corp. |
7,308 | 352,611 | ||||||
RPM International Inc. |
6,516 | 505,967 | ||||||
Scotts Miracle-Gro Co. (The) |
2,081 | 304,575 |
S C H E D U L E O F I N V E S T M E N T S |
29 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 2500 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Chemicals (continued) |
| |||||||
Valvoline Inc. |
9,243 | $ | 288,197 | |||||
Westlake Chemical Corp. |
1,695 | 154,482 | ||||||
|
|
|||||||
4,373,786 | ||||||||
Commercial Services & Supplies — 0.4% | ||||||||
ADT Inc. |
8,086 | 65,416 | ||||||
Clean Harbors Inc.(a) |
2,585 | 268,504 | ||||||
Driven Brands Holdings Inc.(a) |
2,743 | 79,245 | ||||||
IAA Inc.(a) |
6,857 | 374,186 | ||||||
MSA Safety Inc. |
1,871 | 272,605 | ||||||
Stericycle Inc.(a)(b) |
4,668 | 317,284 | ||||||
|
|
|||||||
1,377,240 | ||||||||
Communications Equipment — 0.6% | ||||||||
Ciena Corp.(a) |
7,869 | 404,073 | ||||||
CommScope Holding Co. Inc.(a) |
10,271 | 139,583 | ||||||
F5 Networks Inc.(a)(b) |
3,069 | 610,056 | ||||||
Juniper Networks Inc. |
16,435 | 452,291 | ||||||
Lumentum Holdings Inc.(a) |
3,844 | 321,128 | ||||||
Viasat Inc.(a) |
3,549 | 195,443 | ||||||
|
|
|||||||
2,122,574 | ||||||||
Construction & Engineering — 0.5% | ||||||||
AECOM(a)(b) |
6,959 | 439,461 | ||||||
MasTec Inc.(a) |
2,865 | 247,192 | ||||||
Quanta Services Inc. |
7,032 | 800,382 | ||||||
Valmont Industries Inc. |
1,064 | 250,168 | ||||||
|
|
|||||||
1,737,203 | ||||||||
Construction Materials — 0.1% | ||||||||
Eagle Materials Inc. |
2,099 | 275,305 | ||||||
|
|
|||||||
Consumer Finance — 0.5% | ||||||||
Credit Acceptance Corp.(a)(b) |
446 | 261,044 | ||||||
OneMain Holdings Inc. |
5,281 | 292,197 | ||||||
Santander Consumer USA Holdings Inc. |
3,034 | 126,518 | ||||||
SLM Corp. |
15,558 | 273,821 | ||||||
Upstart Holdings Inc.(a) |
2,291 | 724,964 | ||||||
|
|
|||||||
1,678,544 | ||||||||
Containers & Packaging — 1.2% | ||||||||
AptarGroup Inc. |
3,352 | 400,061 | ||||||
Ardagh Group SA |
877 | 22,355 | ||||||
Avery Dennison Corp. |
4,209 | 872,147 | ||||||
Berry Global Group Inc.(a)(b) |
6,894 | 419,707 | ||||||
Crown Holdings Inc. |
6,447 | 649,729 | ||||||
Graphic Packaging Holding Co. |
14,406 | 274,290 | ||||||
Packaging Corp. of America |
4,760 | 654,214 | ||||||
Sealed Air Corp. |
7,644 | 418,815 | ||||||
Silgan Holdings Inc. |
4,264 | 163,567 | ||||||
Sonoco Products Co. |
5,006 | 298,257 | ||||||
|
|
|||||||
4,173,142 | ||||||||
Distributors — 0.3% | ||||||||
Pool Corp. |
1,979 | 859,697 | ||||||
|
|
|||||||
Diversified Consumer Services — 0.7% | ||||||||
Bright Horizons Family Solutions Inc.(a) |
3,078 | 429,135 | ||||||
Chegg Inc.(a) |
7,244 | 492,737 | ||||||
frontdoor Inc.(a)(b) |
4,335 | 181,636 | ||||||
Grand Canyon Education Inc.(a) |
2,282 | 200,725 | ||||||
H&R Block Inc. |
9,098 | 227,450 | ||||||
Mister Car Wash Inc.(a) |
2,096 | 38,252 | ||||||
Service Corp. International |
8,351 | 503,231 |
Security | Shares | Value | ||||||
Diversified Consumer Services (continued) |
| |||||||
Terminix Global Holdings Inc.(a) |
6,368 | $ | 265,355 | |||||
|
|
|||||||
2,338,521 | ||||||||
Diversified Financial Services — 0.1% | ||||||||
Voya Financial Inc. |
5,753 | 353,177 | ||||||
|
|
|||||||
Electric Utilities — 0.5% |
||||||||
Hawaiian Electric Industries Inc. |
5,380 | 219,665 | ||||||
IDACORP Inc. |
2,568 | 265,480 | ||||||
NRG Energy Inc. |
12,419 | 507,068 | ||||||
OGE Energy Corp. |
10,188 | 335,797 | ||||||
Pinnacle West Capital Corp. |
5,753 | 416,287 | ||||||
|
|
|||||||
1,744,297 | ||||||||
Electrical Equipment — 1.0% | ||||||||
Acuity Brands Inc. |
1,792 | 310,679 | ||||||
ChargePoint Holdings Inc.(a)(b) |
5,346 | 106,867 | ||||||
Hubbell Inc. |
2,763 | 499,191 | ||||||
nVent Electric PLC |
8,491 | 274,514 | ||||||
Plug Power Inc.(a) |
25,993 | 663,861 | ||||||
Regal Beloit Corp. |
2,071 | 311,354 | ||||||
Sensata Technologies Holding PLC(a)(b) |
7,940 | 434,477 | ||||||
Shoals Technologies Group Inc., Class A(a)(b) |
5,146 | 143,470 | ||||||
Sunrun Inc.(a)(b) |
10,098 | 444,312 | ||||||
Vertiv Holdings Co. |
14,285 | 344,126 | ||||||
|
|
|||||||
3,532,851 | ||||||||
Electronic Equipment, Instruments & Components — 1.0% | ||||||||
Arrow Electronics Inc.(a) |
3,647 | 409,522 | ||||||
Avnet Inc. |
5,062 | 187,142 | ||||||
Cognex Corp. |
8,688 | 696,951 | ||||||
Coherent Inc.(a) |
1,241 | 310,362 | ||||||
IPG Photonics Corp.(a)(b) |
1,838 | 291,139 | ||||||
Jabil Inc. |
7,252 | 423,299 | ||||||
Littelfuse Inc. |
1,222 | 333,936 | ||||||
National Instruments Corp. |
6,740 | 264,410 | ||||||
SYNNEX Corp. |
2,124 | 221,109 | ||||||
Vontier Corp. |
8,630 | 289,968 | ||||||
|
|
|||||||
3,427,838 | ||||||||
Energy Equipment & Services — 0.1% | ||||||||
NOV Inc.(a) |
19,884 | 260,679 | ||||||
|
|
|||||||
Entertainment — 0.5% | ||||||||
Liberty Media Corp.-Liberty Formula One, Class A(a) |
1,272 | 59,847 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C, NVS(a) |
10,117 | 520,115 | ||||||
Madison Square Garden Sports Corp.(a) |
964 | 179,256 | ||||||
Playtika Holding Corp.(a) |
5,301 | 146,467 | ||||||
Skillz Inc.(a)(b) |
14,821 | 145,542 | ||||||
World Wrestling Entertainment Inc., Class A |
2,235 | 125,741 | ||||||
Zynga Inc., Class A(a) |
50,983 | 383,902 | ||||||
|
|
|||||||
1,560,870 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 4.9% | ||||||||
American Campus Communities Inc. |
6,960 | 337,212 | ||||||
American Homes 4 Rent, Class A |
14,353 | 547,136 | ||||||
Americold Realty Trust |
13,322 | 387,004 | ||||||
Apartment Income REIT Corp. |
7,975 | 389,260 | ||||||
Brixmor Property Group Inc. |
15,107 | 334,016 | ||||||
Camden Property Trust |
4,942 | 728,797 | ||||||
CoreSite Realty Corp. |
2,234 | 309,498 | ||||||
Cousins Properties Inc. |
7,565 | 282,099 | ||||||
CubeSmart |
10,247 | 496,467 |
30 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 2500 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
CyrusOne Inc. |
6,313 | $ | 488,689 | |||||
Douglas Emmett Inc. |
8,435 | 266,630 | ||||||
EPR Properties |
3,737 | 184,533 | ||||||
Equity LifeStyle Properties Inc. |
8,827 | 689,389 | ||||||
Federal Realty Investment Trust |
3,910 | 461,341 | ||||||
First Industrial Realty Trust Inc. |
6,541 | 340,655 | ||||||
Gaming and Leisure Properties Inc. |
11,252 | 521,193 | ||||||
Healthcare Trust of America Inc., Class A |
11,105 | 329,374 | ||||||
Highwoods Properties Inc. |
5,244 | 230,002 | ||||||
Host Hotels & Resorts Inc.(a) |
35,989 | 587,700 | ||||||
Hudson Pacific Properties Inc. |
7,512 | 197,340 | ||||||
Iron Mountain Inc. |
14,624 | 635,413 | ||||||
JBG SMITH Properties |
6,334 | 187,550 | ||||||
Kilroy Realty Corp. |
5,907 | 391,102 | ||||||
Kimco Realty Corp. |
29,653 | 615,300 | ||||||
Lamar Advertising Co., Class A |
4,398 | 498,953 | ||||||
Life Storage Inc. |
3,946 | 452,764 | ||||||
Medical Properties Trust Inc. |
30,164 | 605,392 | ||||||
National Retail Properties Inc. |
8,915 | 385,039 | ||||||
Omega Healthcare Investors Inc. |
12,121 | 363,145 | ||||||
Park Hotels & Resorts Inc.(a) |
11,981 | 229,316 | ||||||
Rayonier Inc. |
7,162 | 255,540 | ||||||
Regency Centers Corp. |
8,569 | 576,951 | ||||||
Rexford Industrial Realty Inc. |
7,038 | 399,407 | ||||||
SL Green Realty Corp. |
3,415 | 241,919 | ||||||
Spirit Realty Capital Inc. |
6,060 | 279,002 | ||||||
STORE Capital Corp. |
12,369 | 396,179 | ||||||
VEREIT Inc. |
11,609 | 525,075 | ||||||
VICI Properties Inc. |
29,853 | 848,124 | ||||||
Vornado Realty Trust |
8,954 | 376,158 | ||||||
|
|
|||||||
16,370,664 | ||||||||
Food & Staples Retailing — 0.3% | ||||||||
Albertsons Companies Inc., Class A |
7,887 | 245,522 | ||||||
Casey’s General Stores Inc. |
1,881 | 354,475 | ||||||
Grocery Outlet Holding Corp.(a) |
4,474 | 96,504 | ||||||
U.S. Foods Holding Corp.(a)(b) |
11,274 | 390,757 | ||||||
|
|
|||||||
1,087,258 | ||||||||
Food Products — 1.0% | ||||||||
Beyond Meat Inc.(a)(b) |
2,925 | 307,886 | ||||||
Bunge Ltd. |
7,014 | 570,378 | ||||||
Darling Ingredients Inc.(a)(b) |
8,200 | 589,580 | ||||||
Flowers Foods Inc. |
9,566 | 226,045 | ||||||
Freshpet Inc.(a)(b) |
2,072 | 295,654 | ||||||
Hain Celestial Group Inc. (The)(a) |
4,289 | 183,483 | ||||||
Ingredion Inc. |
3,406 | 303,168 | ||||||
Lamb Weston Holdings Inc. |
7,451 | 457,268 | ||||||
Pilgrim’s Pride Corp.(a)(b) |
2,431 | 70,693 | ||||||
Post Holdings Inc.(a)(b) |
3,010 | 331,582 | ||||||
Seaboard Corp. |
12 | 49,200 | ||||||
|
|
|||||||
3,384,937 | ||||||||
Gas Utilities — 0.2% | ||||||||
National Fuel Gas Co. |
4,402 | 231,193 | ||||||
UGI Corp. |
10,535 | 449,002 | ||||||
|
|
|||||||
680,195 | ||||||||
Health Care Equipment & Supplies — 1.0% | ||||||||
Envista Holdings Corp.(a)(b) |
8,210 | 343,260 | ||||||
Figs Inc., Class A(a)(b) |
1,931 | 71,717 | ||||||
Globus Medical Inc., Class A(a) |
3,927 | 300,887 | ||||||
Hill-Rom Holdings Inc. |
3,394 | 509,100 |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
ICU Medical Inc.(a) |
1,012 | $ | 236,181 | |||||
Integra LifeSciences Holdings Corp.(a) |
3,662 | 250,774 | ||||||
Masimo Corp.(a)(b) |
2,553 | 691,123 | ||||||
Penumbra Inc.(a) |
1,723 | 459,179 | ||||||
Quidel Corp.(a)(b) |
1,876 | 264,797 | ||||||
Tandem Diabetes Care Inc.(a)(b) |
3,108 | 371,033 | ||||||
|
|
|||||||
3,498,051 | ||||||||
Health Care Providers & Services — 1.1% | ||||||||
Acadia Healthcare Co. Inc.(a)(b) |
4,513 | 287,839 | ||||||
agilon health Inc.(a)(b) |
3,474 | 91,053 | ||||||
Amedisys Inc.(a) |
1,636 | 243,928 | ||||||
Chemed Corp. |
784 | 364,654 | ||||||
Encompass Health Corp. |
4,981 | 373,774 | ||||||
Guardant Health Inc.(a) |
4,584 | 573,046 | ||||||
Henry Schein Inc.(a) |
7,144 | 544,087 | ||||||
Molina Healthcare Inc.(a)(b) |
2,931 | 795,210 | ||||||
Premier Inc., Class A |
6,209 | 240,661 | ||||||
Signify Health Inc., Class A(a)(b) |
3,217 | 57,488 | ||||||
|
|
|||||||
3,571,740 | ||||||||
Health Care Technology — 0.1% | ||||||||
Certara Inc.(a) |
4,232 | 140,079 | ||||||
Change Healthcare Inc.(a) |
12,774 | 267,488 | ||||||
|
|
|||||||
407,567 | ||||||||
Hotels, Restaurants & Leisure — 1.4% | ||||||||
Aramark |
11,696 | 384,331 | ||||||
Boyd Gaming Corp.(a) |
4,189 | 264,996 | ||||||
Choice Hotels International Inc. |
1,763 | 222,790 | ||||||
Churchill Downs Inc. |
1,867 | 448,229 | ||||||
Hyatt Hotels Corp., Class A(a) |
2,410 | 185,811 | ||||||
Marriott Vacations Worldwide Corp. |
2,125 | 334,326 | ||||||
Norwegian Cruise Line Holdings Ltd.(a)(b) |
18,850 | 503,483 | ||||||
Penn National Gaming Inc.(a)(b) |
7,922 | 574,028 | ||||||
Planet Fitness Inc., Class A(a) |
4,251 | 333,916 | ||||||
Six Flags Entertainment Corp.(a) |
3,892 | 165,410 | ||||||
Travel + Leisure Co. |
4,290 | 233,934 | ||||||
Vail Resorts Inc.(a) |
2,037 | 680,460 | ||||||
Wendy’s Co. (The) |
9,119 | 197,700 | ||||||
Wyndham Hotels & Resorts Inc. |
4,661 | 359,783 | ||||||
|
|
|||||||
4,889,197 | ||||||||
Household Durables — 0.9% | ||||||||
Leggett & Platt Inc. |
6,786 | 304,284 | ||||||
Mohawk Industries Inc.(a) |
2,886 | 511,977 | ||||||
Newell Brands Inc. |
19,272 | 426,682 | ||||||
PulteGroup Inc. |
13,198 | 606,052 | ||||||
Tempur Sealy International Inc. |
9,219 | 427,854 | ||||||
Toll Brothers Inc. |
5,734 | 317,033 | ||||||
TopBuild Corp.(a)(b) |
1,677 | 343,466 | ||||||
|
|
|||||||
2,937,348 | ||||||||
Household Products — 0.1% | ||||||||
Reynolds Consumer Products Inc. |
2,777 | 75,923 | ||||||
Spectrum Brands Holdings Inc. |
2,123 | 203,108 | ||||||
|
|
|||||||
279,031 | ||||||||
Independent Power and Renewable Electricity Producers — 0.2% | ||||||||
Brookfield Renewable Corp., Class A |
6,485 | 251,683 | ||||||
Vistra Corp. |
24,446 | 418,026 | ||||||
|
|
|||||||
669,709 | ||||||||
Insurance — 2.2% | ||||||||
Alleghany Corp.(a) |
684 | 427,097 |
S C H E D U L E O F I N V E S T M E N T S |
31 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 2500 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Insurance (continued) | ||||||||
American Financial Group Inc./OH |
3,460 | $ | 435,372 | |||||
Assurant Inc. |
2,995 | 472,461 | ||||||
Assured Guaranty Ltd. |
3,593 | 168,188 | ||||||
Athene Holding Ltd., Class A(a) |
5,893 | 405,851 | ||||||
Axis Capital Holdings Ltd. |
3,953 | 181,996 | ||||||
Brighthouse Financial Inc.(a) |
4,220 | 190,871 | ||||||
Brown & Brown Inc. |
11,907 | 660,243 | ||||||
Erie Indemnity Co., Class A, NVS |
1,280 | 228,378 | ||||||
Everest Re Group Ltd. |
2,023 | 507,328 | ||||||
First American Financial Corp. |
5,421 | 363,478 | ||||||
Globe Life Inc. |
5,112 | 455,121 | ||||||
GoHealth Inc., Class A(a) |
2,460 | 12,374 | ||||||
Hanover Insurance Group Inc. (The) |
1,815 | 235,260 | ||||||
Kemper Corp. |
3,066 | 204,778 | ||||||
Lemonade Inc.(a) |
1,920 | 128,659 | ||||||
Mercury General Corp. |
1,379 | 76,769 | ||||||
Old Republic International Corp. |
14,287 | 330,458 | ||||||
Primerica Inc. |
2,000 | 307,260 | ||||||
Reinsurance Group of America Inc. |
3,463 | 385,294 | ||||||
RenaissanceRe Holdings Ltd. |
2,380 | 331,772 | ||||||
Unum Group |
10,302 | 258,168 | ||||||
W R Berkley Corp. |
7,046 | 515,626 | ||||||
White Mountains Insurance Group Ltd.(b) |
154 | 164,720 | ||||||
|
|
|||||||
7,447,522 | ||||||||
Interactive Media & Services — 0.1% | ||||||||
TripAdvisor Inc.(a) |
5,035 | 170,435 | ||||||
Vimeo Inc.(a)(b) |
7,338 | 215,517 | ||||||
|
|
|||||||
385,952 | ||||||||
Internet & Direct Marketing Retail — 0.1% | ||||||||
Qurate Retail Inc., Series A |
19,012 | 193,732 | ||||||
|
|
|||||||
IT Services — 2.0% | ||||||||
Alliance Data Systems Corp. |
2,544 | 256,664 | ||||||
Amdocs Ltd. |
6,602 | 499,837 | ||||||
Concentrix Corp.(a) |
2,145 | 379,665 | ||||||
DXC Technology Co.(a) |
12,815 | 430,712 | ||||||
Euronet Worldwide Inc.(a) |
2,585 | 329,019 | ||||||
Fastly Inc., Class A(a)(b) |
5,387 | 217,850 | ||||||
Genpact Ltd. |
9,276 | 440,703 | ||||||
Globant SA(a) |
2,052 | 576,633 | ||||||
Jack Henry & Associates Inc. |
3,769 | 618,342 | ||||||
MongoDB Inc.(a)(b) |
3,156 | 1,488,086 | ||||||
Paysafe Ltd.(a) |
21,248 | 164,672 | ||||||
Sabre Corp.(a) |
16,241 | 192,293 | ||||||
Shift4 Payments Inc., Class A(a)(b) |
2,198 | 170,389 | ||||||
SolarWinds Corp. |
1,786 | 29,880 | ||||||
Switch Inc., Class A |
5,785 | 146,881 | ||||||
Western Union Co. (The) |
20,836 | 421,304 | ||||||
WEX Inc.(a)(b) |
2,280 | 401,599 | ||||||
|
|
|||||||
6,764,529 | ||||||||
Leisure Products — 0.4% | ||||||||
Brunswick Corp./DE |
3,972 | 378,412 | ||||||
Hayward Holdings Inc.(a)(b) |
2,007 | 44,636 | ||||||
Mattel Inc.(a)(b) |
17,725 | 328,976 | ||||||
Polaris Inc. |
2,913 | 348,570 | ||||||
YETI Holdings Inc.(a)(b) |
4,358 | 373,437 | ||||||
|
|
|||||||
1,474,031 | ||||||||
Life Sciences Tools & Services — 2.4% | ||||||||
10X Genomics Inc., Class A(a) |
4,247 | 618,278 |
Security | Shares | Value | ||||||
Life Sciences Tools & Services (continued) | ||||||||
Adaptive Biotechnologies Corp.(a) |
5,568 | $ | 189,256 | |||||
Avantor Inc.(a) |
29,520 | 1,207,368 | ||||||
Bio-Techne Corp. |
1,969 | 954,118 | ||||||
Bruker Corp.(b) |
5,181 | 404,636 | ||||||
Charles River Laboratories International Inc.(a) |
2,535 | 1,046,119 | ||||||
Maravai LifeSciences Holdings Inc., Class A(a) |
5,184 | 254,431 | ||||||
PerkinElmer Inc. |
5,698 | 987,407 | ||||||
PPD Inc.(a)(b) |
8,176 | 382,555 | ||||||
QIAGEN NV(a)(b) |
11,585 | 598,713 | ||||||
Repligen Corp.(a)(b) |
2,783 | 804,259 | ||||||
Sotera Health Co.(a)(b) |
5,072 | 132,633 | ||||||
Syneos Health Inc.(a) |
5,192 | 454,196 | ||||||
|
|
|||||||
8,033,969 | ||||||||
Machinery — 2.1% | ||||||||
AGCO Corp. |
3,184 | 390,135 | ||||||
Allison Transmission Holdings Inc. |
5,368 | 189,598 | ||||||
Colfax Corp.(a)(b) |
5,970 | 274,023 | ||||||
Crane Co. |
2,517 | 238,637 | ||||||
Donaldson Co. Inc. |
6,413 | 368,170 | ||||||
Flowserve Corp. |
6,637 | 230,105 | ||||||
Gates Industrial Corp. PLC(a) |
4,896 | 79,658 | ||||||
Graco Inc. |
8,570 | 599,643 | ||||||
ITT Inc. |
4,398 | 377,524 | ||||||
Lincoln Electric Holdings Inc. |
2,930 | 377,355 | ||||||
Middleby Corp. (The)(a)(b) |
2,812 | 479,474 | ||||||
Nordson Corp. |
2,948 | 702,066 | ||||||
Oshkosh Corp. |
3,487 | 356,964 | ||||||
Pentair PLC |
8,438 | 612,852 | ||||||
Snap-on Inc. |
2,708 | 565,837 | ||||||
Timken Co. (The) |
3,277 | 214,381 | ||||||
Toro Co. (The) |
5,483 | 534,099 | ||||||
Woodward Inc. |
2,930 | 331,676 | ||||||
|
|
|||||||
6,922,197 | ||||||||
Marine — 0.0% | ||||||||
Kirby Corp.(a) |
3,048 | 146,182 | ||||||
|
|
|||||||
Media — 0.8% | ||||||||
Cable One Inc. |
274 | 496,798 | ||||||
Interpublic Group of Companies Inc. (The) |
19,917 | 730,356 | ||||||
New York Times Co. (The), Class A |
8,422 | 414,952 | ||||||
News Corp., Class A, NVS |
19,896 | 468,153 | ||||||
News Corp., Class B |
6,198 | 143,979 | ||||||
Nexstar Media Group Inc., Class A |
2,054 | 312,126 | ||||||
|
|
|||||||
2,566,364 | ||||||||
Metals & Mining — 0.8% | ||||||||
Alcoa Corp.(a) |
9,461 | 463,021 | ||||||
Cleveland-Cliffs Inc.(a) |
23,082 | 457,255 | ||||||
Reliance Steel & Aluminum Co. |
3,210 | 457,168 | ||||||
Royal Gold Inc. |
3,328 | 317,791 | ||||||
Steel Dynamics Inc. |
9,838 | 575,326 | ||||||
United States Steel Corp. |
13,646 | 299,803 | ||||||
|
|
|||||||
2,570,364 | ||||||||
Mortgage Real Estate Investment — 0.3% | ||||||||
AGNC Investment Corp. |
26,756 | 421,942 | ||||||
New Residential Investment Corp. |
21,943 | 241,373 | ||||||
Starwood Property Trust Inc. |
13,998 | 341,691 | ||||||
|
|
|||||||
1,005,006 | ||||||||
Multi-Utilities — 0.2% | ||||||||
MDU Resources Group Inc. |
10,128 | 300,498 |
32 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 2500 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Multi-Utilities (continued) | ||||||||
NiSource Inc. |
19,994 | $ | 484,454 | |||||
|
|
|||||||
784,952 | ||||||||
Multiline Retail — 0.2% | ||||||||
Kohl’s Corp. |
7,991 | 376,296 | ||||||
Nordstrom Inc.(a)(b) |
5,564 | 147,168 | ||||||
Ollie’s Bargain Outlet Holdings Inc.(a)(b) |
3,289 | 198,261 | ||||||
|
|
|||||||
721,725 | ||||||||
Oil, Gas & Consumable Fuels — 1.7% | ||||||||
Antero Midstream Corp. |
17,105 | 178,234 | ||||||
APA Corp. |
19,253 | 412,592 | ||||||
Cabot Oil & Gas Corp. |
20,039 | 436,049 | ||||||
Cimarex Energy Co. |
5,132 | 447,510 | ||||||
Continental Resources Inc./OK |
3,330 | 153,679 | ||||||
Devon Energy Corp. |
34,311 | 1,218,384 | ||||||
Diamondback Energy Inc. |
9,180 | 869,070 | ||||||
EQT Corp.(a) |
14,120 | 288,895 | ||||||
HollyFrontier Corp. |
7,577 | 251,026 | ||||||
Marathon Oil Corp. |
40,022 | 547,101 | ||||||
New Fortress Energy Inc. |
1,356 | 37,629 | ||||||
Targa Resources Corp. |
11,428 | 562,372 | ||||||
Texas Pacific Land Corp. |
300 | 362,808 | ||||||
|
|
|||||||
5,765,349 | ||||||||
Paper & Forest Products — 0.1% | ||||||||
Louisiana-Pacific Corp. |
4,844 | 297,276 | ||||||
|
|
|||||||
Personal Products — 0.1% | ||||||||
Coty Inc., Class A(a) |
17,371 | 136,536 | ||||||
Herbalife Nutrition Ltd.(a)(b) |
5,357 | 227,030 | ||||||
|
|
|||||||
363,566 | ||||||||
Pharmaceuticals — 0.7% | ||||||||
Catalent Inc.(a) |
8,266 | 1,099,957 | ||||||
Jazz Pharmaceuticals PLC(a) |
3,025 | 393,885 | ||||||
Nektar Therapeutics(a) |
9,076 | 163,005 | ||||||
Organon & Co. |
12,947 | 424,532 | ||||||
Perrigo Co. PLC |
6,776 | 320,708 | ||||||
|
|
|||||||
2,402,087 | ||||||||
Professional Services — 1.1% | ||||||||
Booz Allen Hamilton Holding Corp. |
6,756 | 536,089 | ||||||
CACI International Inc., Class A(a)(b) |
1,176 | 308,230 | ||||||
Dun & Bradstreet Holdings Inc.(a)(b) |
8,045 | 135,236 | ||||||
FTI Consulting Inc.(a)(b) |
1,711 | 230,472 | ||||||
Jacobs Engineering Group Inc. |
6,571 | 870,855 | ||||||
Legalzoomcom Inc.(a)(b) |
961 | 25,370 | ||||||
ManpowerGroup Inc. |
2,771 | 300,044 | ||||||
Nielsen Holdings PLC |
18,245 | 350,121 | ||||||
Robert Half International Inc. |
5,572 | 559,039 | ||||||
Science Applications International Corp. |
2,931 | 250,776 | ||||||
|
|
|||||||
3,566,232 | ||||||||
Real Estate Management & Development — 0.4% | ||||||||
Howard Hughes Corp. (The)(a) |
2,121 | 186,245 | ||||||
Jones Lang LaSalle Inc.(a) |
2,564 | 636,103 | ||||||
Opendoor Technologies Inc.(a)(b) |
22,938 | 470,917 | ||||||
|
|
|||||||
1,293,265 | ||||||||
Road & Rail — 0.5% | ||||||||
AMERCO |
454 | 293,298 | ||||||
Knight-Swift Transportation Holdings Inc. |
8,206 | 419,737 | ||||||
Landstar System Inc. |
1,951 | 307,907 | ||||||
Ryder System Inc. |
2,667 | 220,587 |
Security | Shares | Value | ||||||
Road & Rail (continued) | ||||||||
Schneider National Inc., Class B |
2,647 | $ | 60,193 | |||||
TuSimple Holdings Inc., Class A(a)(b) |
1,699 | 63,084 | ||||||
XPO Logistics Inc.(a)(b) |
4,933 | 392,568 | ||||||
|
|
|||||||
1,757,374 | ||||||||
Semiconductors & Semiconductor Equipment — 1.8% | ||||||||
Allegro MicroSystems Inc.(a) |
2,049 | 65,486 | ||||||
Brooks Automation Inc. |
3,726 | 381,356 | ||||||
Cirrus Logic Inc.(a)(b) |
2,951 | 243,015 | ||||||
Enphase Energy Inc.(a) |
6,711 | 1,006,449 | ||||||
Entegris Inc. |
6,845 | 861,785 | ||||||
First Solar Inc.(a)(b) |
5,410 | 516,438 | ||||||
MKS Instruments Inc. |
2,822 | 425,868 | ||||||
Monolithic Power Systems Inc. |
2,281 | 1,105,555 | ||||||
ON Semiconductor Corp.(a)(b) |
21,545 | 986,115 | ||||||
Universal Display Corp. |
2,209 | 377,651 | ||||||
|
|
|||||||
5,969,718 | ||||||||
Software — 4.8% | ||||||||
Alteryx Inc., Class A(a) |
2,989 | 218,496 | ||||||
Anaplan Inc.(a) |
7,149 | 435,303 | ||||||
Aspen Technology Inc.(a)(b) |
3,466 | 425,625 | ||||||
Avalara Inc.(a) |
4,305 | 752,385 | ||||||
Bentley Systems Inc., Class B(b) |
6,990 | 423,874 | ||||||
Bill.com Holdings Inc.(a) |
4,022 | 1,073,673 | ||||||
Black Knight Inc.(a)(b) |
7,709 | 555,048 | ||||||
C3.ai Inc., Class A(a)(b) |
1,747 | 80,956 | ||||||
CDK Global Inc. |
6,220 | 264,661 | ||||||
Ceridian HCM Holding Inc.(a)(b) |
6,561 | 738,900 | ||||||
Datto Holding Corp.(a)(b) |
1,223 | 29,230 | ||||||
Dolby Laboratories Inc., Class A |
3,277 | 288,376 | ||||||
DoubleVerify Holdings Inc.(a)(b) |
776 | 26,508 | ||||||
Dropbox Inc., Class A(a) |
15,558 | 454,605 | ||||||
Duck Creek Technologies Inc.(a) |
3,623 | 160,281 | ||||||
Dynatrace Inc.(a) |
9,995 | 709,345 | ||||||
Elastic NV(a)(b) |
3,532 | 526,233 | ||||||
Everbridge Inc.(a) |
1,957 | 295,585 | ||||||
Fair Isaac Corp.(a)(b) |
1,404 | 558,694 | ||||||
Five9 Inc.(a) |
3,408 | 544,394 | ||||||
Guidewire Software Inc.(a)(b) |
4,282 | 509,001 | ||||||
Jamf Holding Corp.(a)(b) |
2,685 | 103,426 | ||||||
Mandiant Inc. |
12,001 | 213,618 | ||||||
Manhattan Associates Inc.(a) |
3,230 | 494,287 | ||||||
McAfee Corp., Class A |
3,478 | 76,898 | ||||||
Medallia Inc.(a)(b) |
5,335 | 180,696 | ||||||
N-Able Inc.(a) |
1,786 | 22,164 | ||||||
nCino Inc.(a)(b) |
2,863 | 203,359 | ||||||
NCR Corp.(a) |
6,504 | 252,095 | ||||||
New Relic Inc.(a) |
2,632 | 188,899 | ||||||
NortonLifeLock Inc. |
27,920 | 706,376 | ||||||
Nuance Communications Inc.(a) |
14,483 | 797,144 | ||||||
Nutanix Inc., Class A(a)(b) |
9,829 | 370,553 | ||||||
Paycor HCM Inc.(a)(b) |
1,045 | 36,742 | ||||||
Paylocity Holding Corp.(a)(b) |
1,912 | 536,125 | ||||||
Pegasystems Inc. |
2,070 | 263,097 | ||||||
Procore Technologies Inc.(a)(b) |
517 | 46,189 | ||||||
PTC Inc.(a) |
5,351 | 640,996 | ||||||
Smartsheet Inc., Class A(a) |
6,086 | 418,838 | ||||||
Teradata Corp.(a) |
5,556 | 318,637 | ||||||
Wolfspeed Inc. |
5,886 | 475,177 |
S C H E D U L E O F I N V E S T M E N T S |
33 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 2500 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Zendesk Inc.(a) |
6,054 | $ | 704,625 | |||||
|
|
|||||||
16,121,114 | ||||||||
Specialty Retail — 1.5% | ||||||||
AutoNation Inc.(a) |
2,305 | 280,657 | ||||||
Dick’s Sporting Goods Inc. |
3,204 | 383,743 | ||||||
Five Below Inc.(a) |
2,812 | 497,190 | ||||||
Floor & Decor Holdings Inc., Class A(a) |
5,194 | 627,383 | ||||||
Foot Locker Inc. |
4,581 | 209,169 | ||||||
GameStop Corp., Class A(a)(b) |
3,277 | 575,015 | ||||||
Gap Inc. (The) |
10,263 | 232,970 | ||||||
Leslie’s Inc.(a) |
6,784 | 139,344 | ||||||
Lithia Motors Inc. |
1,493 | 473,341 | ||||||
Penske Automotive Group Inc. |
1,598 | 160,759 | ||||||
Petco Health & Wellness Co. Inc.(a)(b) |
2,823 | 59,565 | ||||||
RH(a)(b) |
875 | 583,546 | ||||||
Vroom Inc.(a)(b) |
5,888 | 129,948 | ||||||
Williams-Sonoma Inc. |
3,804 | 674,563 | ||||||
|
|
|||||||
5,027,193 | ||||||||
Technology Hardware, Storage & Peripherals — 0.1% | ||||||||
Pure Storage Inc., Class A(a)(b) |
13,606 | 342,327 | ||||||
Xerox Holdings Corp. |
7,244 | 146,111 | ||||||
|
|
|||||||
488,438 | ||||||||
Textiles, Apparel & Luxury Goods — 1.0% | ||||||||
Capri Holdings Ltd.(a) |
7,538 | 364,915 | ||||||
Carter’s Inc. |
2,177 | 211,692 | ||||||
Columbia Sportswear Co. |
2,037 | 195,226 | ||||||
Deckers Outdoor Corp.(a) |
1,397 | 503,199 | ||||||
Hanesbrands Inc. |
17,711 | 303,921 | ||||||
PVH Corp.(a) |
3,614 | 371,483 | ||||||
Ralph Lauren Corp. |
2,398 | 266,274 | ||||||
Skechers U.S.A. Inc., Class A(a)(b) |
6,685 | 281,572 | ||||||
Tapestry Inc. |
14,158 | 524,129 | ||||||
Under Armour Inc., Class A(a)(b) |
9,528 | 192,275 | ||||||
Under Armour Inc., Class C, NVS(a) |
10,137 | 177,600 | ||||||
|
|
|||||||
3,392,286 | ||||||||
Thrifts & Mortgage Finance — 0.2% | ||||||||
MGIC Investment Corp. |
17,245 | 257,985 | ||||||
New York Community Bancorp. Inc. |
23,037 | 296,486 | ||||||
TFS Financial Corp. |
2,519 | 48,012 | ||||||
UWM Holdings Corp. |
4,730 | 32,874 | ||||||
|
|
|||||||
635,357 |
Security | Shares | Value | ||||||
Trading Companies & Distributors — 0.5% | ||||||||
Air Lease Corp. |
5,475 | $ | 215,386 | |||||
Core & Main Inc., Class A(a)(b) |
1,785 | 46,785 | ||||||
MSC Industrial Direct Co. Inc., Class A |
2,297 | 184,196 | ||||||
SiteOne Landscape Supply Inc.(a)(b) |
2,249 | 448,608 | ||||||
Univar Solutions Inc.(a) |
8,457 | 201,446 | ||||||
Watsco Inc. |
1,667 | 441,122 | ||||||
|
|
|||||||
1,537,543 | ||||||||
Water Utilities — 0.2% | ||||||||
Essential Utilities Inc. |
11,365 | 523,699 | ||||||
|
|
|||||||
Total
Common Stocks — 55.8% |
187,662,928 | |||||||
|
|
|||||||
Investment Companies |
||||||||
Exchange Traded Funds — 44.0% |
| |||||||
iShares Russell 2000 ETF(b)(c) |
677,467 | 148,195,906 | ||||||
|
|
|||||||
Total
Investment Companies — 44.0% |
148,195,906 | |||||||
|
|
|||||||
Short-Term Investments |
| |||||||
Money Market Funds — 46.3% |
| |||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.05%(c)(d)(e) |
155,518,418 | 155,596,177 | ||||||
|
|
|||||||
Total
Short-Term Investments — 46.3% |
|
155,596,177 | ||||||
|
|
|||||||
Total
Investments in Securities — 146.1% |
|
491,455,011 | ||||||
Other Assets, Less Liabilities — (46.1)% |
(155,063,581 | ) | ||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 336,391,430 | ||||||
|
|
(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. |
34 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 2500 ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 03/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 09/30/21 |
Shares Held at |
Income | Capital Gain |
|||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 112,434,624 | $ | 43,174,602 | (a) | $ | — | $ | (12,833 | ) | $ | (216 | ) | $ | 155,596,177 | 155,518,418 | $ | 229,076 | (b) | $ | — | ||||||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares(c) |
200,000 | — | (200,000 | )(a) | — | — | — | — | 17 | — | ||||||||||||||||||||||||||||||||
iShares Russell 2000 ETF |
119,636,359 | 41,351,869 | (11,163,508 | ) | 1,536,031 | (3,164,845 | ) | 148,195,906 | 677,467 | 676,686 | — | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
$ | 1,523,198 | $ | (3,165,061 | ) | $ | 303,792,083 | $ | 905,779 | $ | — | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
(b) |
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
(c) |
As of period end, the entity is no longer held. |
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 |
||||||||||||||||
Russell 2000 E-Mini Index |
1 | 12/17/21 | $ | 110 | $ | (1,272 | ) | |||||||||
Russell 2000 Micro E-Mini Index |
30 | 12/17/21 | 330 | (6,634 | ) | |||||||||||
|
|
|||||||||||||||
$ | (7,906 | ) | ||||||||||||||
|
|
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
||||
Equity Contracts |
||||
|
||||
Liabilities — Derivative Financial Instruments |
||||
Futures contracts |
||||
Unrealized depreciation on futures contracts(a) |
$ | 7,906 | ||
|
|
(a) |
Net cumulative appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
||||
Equity Contracts |
||||
|
||||
Net Realized Gain (Loss) from: |
||||
Futures contracts |
$ | 29,608 | ||
|
|
|||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
Futures contracts |
$ | (15,132 | ) | |
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
||||
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 498,972 | ||
|
S C H E D U L E O F I N V E S T M E N T S |
35 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 2500 ETF |
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 187,662,928 | $ | — | $ | — | $ | 187,662,928 | ||||||||
Investment Companies |
148,195,906 | — | — | 148,195,906 | ||||||||||||
Money Market Funds |
155,596,177 | — | — | 155,596,177 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 491,455,011 | $ | — | $ | — | $ | 491,455,011 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative financial instruments(a) |
||||||||||||||||
Liabilities |
||||||||||||||||
Futures Contracts |
$ | (7,906 | ) | $ | — | $ | — | $ | (7,906 | ) | ||||||
|
|
|
|
|
|
|
|
(a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
36 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Aerospace & Defense — 1.4% | ||||||||
AAR Corp.(a) |
9,432 | $ | 305,880 | |||||
Aerojet Rocketdyne Holdings Inc. |
19,997 | 870,869 | ||||||
Aerovironment Inc.(a) |
5,894 | 508,770 | ||||||
Astronics Corp.(a) |
9,137 | 128,466 | ||||||
Axon Enterprise Inc.(a) |
17,208 | 3,011,744 | ||||||
Boeing Co. (The)(a) |
141,581 | 31,139,325 | ||||||
BWX Technologies Inc. |
25,337 | 1,364,651 | ||||||
Byrna Technologies Inc.(a) |
4,854 | 106,108 | ||||||
Curtiss-Wright Corp. |
10,851 | 1,369,179 | ||||||
Ducommun Inc.(a)(b) |
2,627 | 132,269 | ||||||
General Dynamics Corp. |
65,748 | 12,888,580 | ||||||
HEICO Corp. |
11,958 | 1,576,902 | ||||||
HEICO Corp., Class A |
20,792 | 2,462,397 | ||||||
Hexcel Corp.(a) |
23,501 | 1,395,724 | ||||||
Howmet Aerospace Inc. |
104,514 | 3,260,837 | ||||||
Huntington Ingalls Industries Inc. |
10,343 | 1,996,820 | ||||||
Kaman Corp. |
7,843 | 279,760 | ||||||
Kratos Defense & Security Solutions Inc.(a) |
33,658 | 750,910 | ||||||
L3Harris Technologies Inc. |
53,108 | 11,696,506 | ||||||
Lockheed Martin Corp. |
65,636 | 22,650,984 | ||||||
Maxar Technologies Inc.(b) |
18,115 | 513,017 | ||||||
Mercury Systems Inc.(a)(b) |
15,243 | 722,823 | ||||||
Moog Inc., Class A |
7,815 | 595,737 | ||||||
National Presto Industries Inc. |
1,615 | 132,559 | ||||||
Northrop Grumman Corp. |
39,765 | 14,321,365 | ||||||
PAE Inc.(a) |
23,892 | 142,874 | ||||||
Parsons Corp.(a) |
5,068 | 171,096 | ||||||
Raytheon Technologies Corp. |
400,381 | 34,416,751 | ||||||
Spirit AeroSystems Holdings Inc., Class A |
28,364 | 1,253,405 | ||||||
Textron Inc.(b) |
59,344 | 4,142,805 | ||||||
TransDigm Group Inc.(a) |
13,679 | 8,543,493 | ||||||
Triumph Group Inc.(a) |
16,013 | 298,322 | ||||||
Vectrus Inc.(a) |
2,557 | 128,566 | ||||||
Virgin Galactic Holdings Inc.(a)(b) |
47,354 | 1,198,056 | ||||||
|
|
|||||||
164,477,550 | ||||||||
Air Freight & Logistics — 0.5% | ||||||||
Air Transport Services Group Inc.(a) |
15,931 | 411,179 | ||||||
Atlas Air Worldwide Holdings Inc.(a) |
6,572 | 536,801 | ||||||
CH Robinson Worldwide Inc. |
34,898 | 3,036,126 | ||||||
Echo Global Logistics Inc.(a) |
6,791 | 323,999 | ||||||
Expeditors International of Washington Inc. |
44,202 | 5,265,784 | ||||||
FedEx Corp. |
64,805 | 14,211,088 | ||||||
Forward Air Corp. |
7,373 | 612,106 | ||||||
GXO Logistics Inc.(a) |
25,588 | 2,007,123 | ||||||
Hub Group Inc., Class A(a) |
9,233 | 634,769 | ||||||
United Parcel Service Inc., Class B |
191,347 | 34,844,289 | ||||||
|
|
|||||||
61,883,264 | ||||||||
Airlines — 0.3% | ||||||||
Alaska Air Group Inc.(a) |
32,818 | 1,923,135 | ||||||
Allegiant Travel Co.(a) |
3,691 | 721,517 | ||||||
American Airlines Group Inc.(a) |
167,706 | 3,441,327 | ||||||
Copa Holdings SA, Class A, NVS(a) |
8,208 | 667,967 | ||||||
Delta Air Lines Inc.(a) |
168,806 | 7,192,824 | ||||||
Frontier Group Holdings Inc.(a) |
9,877 | 155,958 | ||||||
Hawaiian Holdings Inc.(a) |
14,307 | 309,890 | ||||||
JetBlue Airways Corp.(a) |
82,922 | 1,267,877 | ||||||
SkyWest Inc.(a) |
14,102 | 695,793 | ||||||
Southwest Airlines Co.(a) |
156,750 | 8,061,652 |
Security | Shares | Value | ||||||
Airlines (continued) | ||||||||
Spirit Airlines Inc.(a) |
26,768 | $ | 694,362 | |||||
Sun Country Airlines Holdings Inc.(a) |
4,860 | 163,004 | ||||||
United Airlines Holdings Inc.(a) |
84,591 | 4,023,994 | ||||||
|
|
|||||||
29,319,300 | ||||||||
Auto Components — 0.3% | ||||||||
Adient PLC(a) |
24,993 | 1,035,960 | ||||||
American Axle & Manufacturing Holdings Inc.(a) |
30,315 | 267,075 | ||||||
Aptiv PLC(a) |
71,087 | 10,589,830 | ||||||
BorgWarner Inc. |
62,749 | 2,711,384 | ||||||
Cooper-Standard Holdings Inc.(a) |
5,700 | 124,887 | ||||||
Dana Inc. |
41,164 | 915,487 | ||||||
Dorman Products Inc.(a) |
7,455 | 705,765 | ||||||
Fox Factory Holding Corp.(a) |
11,291 | 1,632,001 | ||||||
Gentex Corp. |
63,099 | 2,081,005 | ||||||
Gentherm Inc.(a) |
8,510 | 688,714 | ||||||
Goodyear Tire & Rubber Co. (The)(a) |
75,680 | 1,339,536 | ||||||
LCI Industries |
6,997 | 942,006 | ||||||
Lear Corp. |
16,026 | 2,507,749 | ||||||
Modine Manufacturing Co.(a) |
11,810 | 133,807 | ||||||
Motorcar Parts of America Inc.(a) |
6,651 | 129,695 | ||||||
Patrick Industries Inc. |
5,928 | 493,802 | ||||||
QuantumScape Corp.(a)(b) |
54,490 | 1,337,185 | ||||||
Standard Motor Products Inc. |
5,119 | 223,752 | ||||||
Stoneridge Inc.(a) |
6,863 | 139,937 | ||||||
Tenneco Inc., Class A(a) |
14,766 | 210,711 | ||||||
Visteon Corp.(a) |
7,727 | 729,352 | ||||||
XPEL Inc.(a) |
4,519 | 342,811 | ||||||
|
|
|||||||
29,282,451 | ||||||||
Automobiles — 1.7% | ||||||||
Arcimoto Inc.(a)(b) |
10,193 | 116,506 | ||||||
Canoo Inc.(a)(b) |
21,993 | 169,126 | ||||||
Fisker Inc.(a)(b) |
41,373 | 606,114 | ||||||
Ford Motor Co.(a) |
1,033,313 | 14,631,712 | ||||||
General Motors Co.(a) |
364,310 | 19,202,780 | ||||||
Harley-Davidson Inc. |
42,285 | 1,548,054 | ||||||
Lordstown Motors Corp., Class A(a)(b) |
30,216 | 241,124 | ||||||
Tesla Inc.(a) |
210,802 | 163,472,735 | ||||||
Thor Industries Inc. |
14,610 | 1,793,524 | ||||||
Winnebago Industries Inc. |
7,871 | 570,254 | ||||||
Workhorse Group Inc.(a)(b) |
32,812 | 251,012 | ||||||
|
|
|||||||
202,602,941 | ||||||||
Banks — 4.5% | ||||||||
1st Source Corp. |
4,063 | 191,936 | ||||||
Allegiance Bancshares Inc. |
6,051 | 230,846 | ||||||
Altabancorp. |
4,509 | 199,117 | ||||||
Amerant Bancorp Inc.(a) |
7,800 | 192,972 | ||||||
Ameris Bancorp |
16,322 | 846,785 | ||||||
Arrow Financial Corp. |
4,729 | 162,488 | ||||||
Associated Banc-Corp. |
39,763 | 851,723 | ||||||
Atlantic Capital Bancshares Inc.(a) |
5,456 | 144,529 | ||||||
Atlantic Union Bankshares Corp. |
22,355 | 823,782 | ||||||
Banc of California Inc. |
12,434 | 229,905 | ||||||
BancFirst Corp. |
4,764 | 286,412 | ||||||
Bancorp. Inc. (The)(a) |
12,081 | 307,461 | ||||||
BancorpSouth Bank |
28,387 | 845,365 | ||||||
Bank First Corp. |
1,652 | 117,077 | ||||||
Bank of America Corp. |
1,957,906 | 83,113,110 | ||||||
Bank of Hawaii Corp. |
9,452 | 776,671 | ||||||
Bank of Marin Bancorp., Class A |
4,528 | 170,932 |
S C H E D U L E O F I N V E S T M E N T S |
37 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Bank of NT Butterfield & Son Ltd. (The) |
14,124 | $ | 501,543 | |||||
Bank OZK |
32,401 | 1,392,595 | ||||||
BankUnited Inc. |
24,695 | 1,032,745 | ||||||
Banner Corp. |
9,732 | 537,304 | ||||||
Bar Harbor Bankshares |
4,836 | 135,650 | ||||||
Berkshire Hills Bancorp. Inc. |
12,318 | 332,340 | ||||||
BOK Financial Corp. |
9,020 | 807,741 | ||||||
Brookline Bancorp. Inc. |
17,954 | 273,978 | ||||||
Bryn Mawr Bank Corp. |
4,918 | 225,982 | ||||||
Business First Bancshares Inc. |
6,577 | 153,836 | ||||||
Byline Bancorp Inc. |
7,398 | 181,695 | ||||||
Cadence BanCorp. |
33,175 | 728,523 | ||||||
Cambridge Bancorp |
1,686 | 148,368 | ||||||
Camden National Corp. |
3,742 | 179,242 | ||||||
Capstar Financial Holdings Inc. |
5,956 | 126,505 | ||||||
Cathay General Bancorp |
20,793 | 860,622 | ||||||
CBTX Inc. |
5,018 | 132,375 | ||||||
Central Pacific Financial Corp. |
8,258 | 212,065 | ||||||
CIT Group Inc. |
27,359 | 1,421,300 | ||||||
Citigroup Inc. |
535,774 | 37,600,619 | ||||||
Citizens & Northern Corp. |
5,841 | 147,544 | ||||||
Citizens Financial Group Inc. |
111,329 | 5,230,236 | ||||||
City Holding Co. |
4,234 | 329,871 | ||||||
Civista Bancshares Inc. |
6,066 | 140,913 | ||||||
CNB Financial Corp./PA |
5,097 | 124,061 | ||||||
Columbia Banking System Inc. |
19,525 | 741,755 | ||||||
Comerica Inc. |
35,454 | 2,854,047 | ||||||
Commerce Bancshares Inc. |
28,159 | 1,962,119 | ||||||
Community Bank System Inc. |
14,122 | 966,227 | ||||||
Community Trust Bancorp. Inc. |
3,868 | 162,843 | ||||||
ConnectOne Bancorp. Inc. |
10,492 | 314,865 | ||||||
CrossFirst Bankshares Inc.(a) |
12,928 | 168,064 | ||||||
Cullen/Frost Bankers Inc. |
15,183 | 1,801,007 | ||||||
Customers Bancorp. Inc.(a) |
7,288 | 313,530 | ||||||
CVB Financial Corp. |
34,583 | 704,456 | ||||||
Dime Community Bancshares Inc. |
9,602 | 313,601 | ||||||
Eagle Bancorp. Inc. |
9,569 | 550,218 | ||||||
East West Bancorp. Inc. |
37,505 | 2,908,138 | ||||||
Eastern Bankshares Inc. |
44,727 | 907,958 | ||||||
Enterprise Bancorp. Inc./MA |
4,098 | 147,323 | ||||||
Enterprise Financial Services Corp. |
9,410 | 426,085 | ||||||
Equity Bancshares Inc., Class A |
3,990 | 133,186 | ||||||
Farmers National Banc Corp. |
10,882 | 170,956 | ||||||
FB Financial Corp. |
7,671 | 328,933 | ||||||
Fifth Third Bancorp |
181,852 | 7,717,799 | ||||||
Financial Institutions Inc. |
4,651 | 142,553 | ||||||
First BanCorp./Puerto Rico |
53,997 | 710,061 | ||||||
First Bancorp./Southern Pines NC |
8,695 | 373,972 | ||||||
First Bancshares Inc. (The) |
5,068 | 196,537 | ||||||
First Busey Corp. |
14,063 | 346,372 | ||||||
First Citizens BancShares Inc./NC, Class A(b) |
1,690 | 1,424,957 | ||||||
First Commonwealth Financial Corp. |
23,135 | 315,330 | ||||||
First Community Bankshares Inc. |
4,434 | 140,647 | ||||||
First Financial Bancorp |
25,266 | 591,477 | ||||||
First Financial Bankshares Inc. |
34,668 | 1,592,995 | ||||||
First Financial Corp./IN |
2,813 | 118,287 | ||||||
First Foundation Inc. |
11,675 | 307,053 | ||||||
First Hawaiian Inc. |
35,593 | 1,044,655 | ||||||
First Horizon Corp. |
149,878 | 2,441,513 | ||||||
First Interstate BancSystem Inc., Class A |
9,872 | 397,447 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
First Merchants Corp. |
14,405 | $ | 602,705 | |||||
First Mid Bancshares Inc. |
3,376 | 138,619 | ||||||
First Midwest Bancorp. Inc. |
32,731 | 622,216 | ||||||
First of Long Island Corp. (The) |
6,644 | 136,866 | ||||||
First Republic Bank/CA |
47,187 | 9,101,429 | ||||||
Flushing Financial Corp. |
7,611 | 172,009 | ||||||
FNB Corp. |
86,571 | 1,005,955 | ||||||
Fulton Financial Corp. |
45,866 | 700,833 | ||||||
German American Bancorp. Inc. |
6,531 | 252,293 | ||||||
Glacier Bancorp. Inc. |
25,030 | 1,385,411 | ||||||
Great Southern Bancorp. Inc. |
2,597 | 142,342 | ||||||
Great Western Bancorp. Inc. |
16,571 | 542,535 | ||||||
Hancock Whitney Corp. |
23,754 | 1,119,289 | ||||||
Hanmi Financial Corp. |
8,508 | 170,671 | ||||||
Harborone Bancorp. Inc. |
17,165 | 240,997 | ||||||
Heartland Financial USA Inc. |
9,693 | 466,039 | ||||||
Heritage Commerce Corp. |
16,622 | 193,314 | ||||||
Heritage Financial Corp./WA |
11,292 | 287,946 | ||||||
Hilltop Holdings Inc. |
17,721 | 578,945 | ||||||
Home BancShares Inc./AR |
41,545 | 977,554 | ||||||
HomeTrust Bancshares Inc. |
5,466 | 152,939 | ||||||
Hope Bancorp Inc. |
29,653 | 428,189 | ||||||
Horizon Bancorp Inc./IN |
10,618 | 192,929 | ||||||
Huntington Bancshares Inc./OH |
386,886 | 5,981,258 | ||||||
Independent Bank Corp. |
8,978 | 683,675 | ||||||
Independent Bank Corp./MI |
5,590 | 120,073 | ||||||
Independent Bank Group Inc. |
10,743 | 763,183 | ||||||
International Bancshares Corp. |
14,738 | 613,690 | ||||||
Investors Bancorp. Inc. |
61,449 | 928,494 | ||||||
JPMorgan Chase & Co. |
784,976 | 128,492,721 | ||||||
KeyCorp |
252,411 | 5,457,126 | ||||||
Lakeland Bancorp. Inc. |
11,514 | 202,992 | ||||||
Lakeland Financial Corp. |
6,035 | 429,933 | ||||||
Live Oak Bancshares Inc. |
8,518 | 542,000 | ||||||
M&T Bank Corp. |
33,776 | 5,044,108 | ||||||
Mercantile Bank Corp. |
4,790 | 153,424 | ||||||
Metrocity Bankshares Inc. |
7,621 | 159,812 | ||||||
Metropolitan Bank Holding Corp.(a) |
2,478 | 208,895 | ||||||
Mid Penn Bancorp. Inc. |
5,633 | 155,189 | ||||||
Midland States Bancorp. Inc. |
6,280 | 155,304 | ||||||
MidWestOne Financial Group Inc. |
6,108 | 184,217 | ||||||
MVB Financial Corp. |
3,029 | 129,732 | ||||||
National Bank Holdings Corp., Class A |
8,542 | 345,780 | ||||||
NBT Bancorp. Inc. |
11,816 | 426,794 | ||||||
Nicolet Bankshares Inc.(a) |
2,958 | 219,424 | ||||||
OceanFirst Financial Corp. |
15,264 | 326,802 | ||||||
OFG Bancorp |
11,998 | 302,590 | ||||||
Old National Bancorp./IN |
47,234 | 800,616 | ||||||
Old Second Bancorp. Inc. |
12,002 | 156,746 | ||||||
Origin Bancorp Inc. |
7,061 | 299,033 | ||||||
Pacific Premier Bancorp. Inc. |
22,786 | 944,252 | ||||||
PacWest Bancorp |
32,482 | 1,472,084 | ||||||
Park National Corp. |
3,584 | 437,069 | ||||||
Parke Bancorp. Inc. |
1 | 29 | ||||||
Peapack Gladstone Financial Corp. |
4,878 | 162,730 | ||||||
Peoples Bancorp. Inc./OH |
5,500 | 173,855 | ||||||
Peoples Financial Services Corp. |
3,260 | 148,558 | ||||||
People’s United Financial Inc. |
112,288 | 1,961,671 | ||||||
Pinnacle Financial Partners Inc. |
20,385 | 1,917,821 | ||||||
PNC Financial Services Group Inc. (The) |
112,256 | 21,961,764 |
38 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Popular Inc. |
21,996 | $ | 1,708,429 | |||||
Preferred Bank/Los Angeles CA |
3,634 | 242,315 | ||||||
Premier Financial Bancorp. Inc.(a)(c) |
1 | 20 | ||||||
Primis Financial Corp. |
9,785 | 141,491 | ||||||
Prosperity Bancshares Inc. |
24,646 | 1,753,070 | ||||||
QCR Holdings Inc. |
5,089 | 261,778 | ||||||
Regions Financial Corp. |
255,399 | 5,442,553 | ||||||
Reliant Bancorp Inc. |
4,516 | 142,660 | ||||||
Renasant Corp. |
16,064 | 579,107 | ||||||
Republic Bancorp. Inc./KY, Class A |
3,154 | 159,750 | ||||||
S&T Bancorp. Inc. |
9,569 | 281,998 | ||||||
Sandy Spring Bancorp. Inc. |
13,665 | 626,130 | ||||||
Seacoast Banking Corp. of Florida |
13,627 | 460,729 | ||||||
ServisFirst Bancshares Inc. |
13,516 | 1,051,545 | ||||||
Sierra Bancorp. |
4,779 | 116,034 | ||||||
Signature Bank/New York NY |
15,715 | 4,278,880 | ||||||
Silvergate Capital Corp., Class A(a) |
6,438 | 743,589 | ||||||
Simmons First National Corp., Class A |
28,427 | 840,302 | ||||||
SmartFinancial Inc. |
6,465 | 167,120 | ||||||
South Plains Financial Inc. |
5,806 | 141,550 | ||||||
South State Corp. |
18,917 | 1,412,532 | ||||||
Southern First Bancshares Inc.(a) |
2,346 | 125,511 | ||||||
Southside Bancshares Inc. |
9,146 | 350,200 | ||||||
Spirit of Texas Bancshares Inc. |
5,783 | 139,949 | ||||||
Sterling Bancorp./DE |
50,843 | 1,269,041 | ||||||
Stock Yards Bancorp. Inc. |
6,079 | 356,533 | ||||||
SVB Financial Group(a) |
15,001 | 9,703,847 | ||||||
Synovus Financial Corp. |
37,766 | 1,657,550 | ||||||
Texas Capital Bancshares Inc.(a) |
13,117 | 787,282 | ||||||
Tompkins Financial Corp. |
3,578 | 289,496 | ||||||
Towne Bank/Portsmouth VA |
17,093 | 531,763 | ||||||
TriCo Bancshares |
7,327 | 317,992 | ||||||
TriState Capital Holdings Inc.(a) |
6,164 | 130,369 | ||||||
Triumph Bancorp. Inc.(a) |
6,103 | 611,093 | ||||||
Truist Financial Corp. |
354,656 | 20,800,574 | ||||||
Trustmark Corp. |
16,710 | 538,396 | ||||||
U.S. Bancorp |
355,694 | 21,142,451 | ||||||
UMB Financial Corp. |
11,260 | 1,088,955 | ||||||
Umpqua Holdings Corp. |
59,487 | 1,204,612 | ||||||
United Bankshares Inc./WV |
34,234 | 1,245,433 | ||||||
United Community Banks Inc./GA |
20,815 | 683,148 | ||||||
Univest Financial Corp. |
7,233 | 198,112 | ||||||
Valley National Bancorp |
103,542 | 1,378,144 | ||||||
Veritex Holdings Inc. |
12,182 | 479,484 | ||||||
Washington Trust Bancorp. Inc. |
3,612 | 191,364 | ||||||
Webster Financial Corp. |
23,408 | 1,274,800 | ||||||
Wells Fargo & Co. |
1,093,708 | 50,758,988 | ||||||
WesBanco Inc. |
17,015 | 579,871 | ||||||
West Bancorp. Inc. |
5,766 | 173,153 | ||||||
Westamerica Bancorp |
7,741 | 435,509 | ||||||
Western Alliance Bancorp |
26,612 | 2,895,918 | ||||||
Wintrust Financial Corp. |
14,240 | 1,144,469 | ||||||
Zions Bancorp. NA |
42,737 | 2,644,993 | ||||||
|
|
|||||||
523,941,781 | ||||||||
Beverages — 1.2% | ||||||||
Boston Beer Co. Inc. (The), Class A, NVS(a) |
2,401 | 1,223,910 | ||||||
Brown-Forman Corp., Class A |
12,018 | 753,168 | ||||||
Brown-Forman Corp., Class B, NVS |
49,174 | 3,295,150 | ||||||
Celsius Holdings Inc.(a)(b) |
14,189 | 1,278,287 | ||||||
Coca-Cola Co. (The) |
1,026,534 | 53,862,239 |
Security | Shares | Value | ||||||
Beverages (continued) | ||||||||
Coca-Cola Consolidated Inc. |
1,373 | $ | 541,209 | |||||
Constellation Brands Inc., Class A |
42,132 | 8,876,791 | ||||||
Duckhorn Portfolio Inc. (The)(a) |
7,016 | 160,596 | ||||||
Keurig Dr Pepper Inc. |
182,242 | 6,225,387 | ||||||
MGP Ingredients Inc. |
3,891 | 253,304 | ||||||
Molson Coors Beverage Co., Class B |
48,543 | 2,251,425 | ||||||
Monster Beverage Corp.(a) |
97,295 | 8,642,715 | ||||||
National Beverage Corp. |
6,766 | 355,147 | ||||||
PepsiCo Inc. |
365,298 | 54,944,472 | ||||||
Primo Water Corp. |
45,096 | 708,909 | ||||||
|
|
|||||||
143,372,709 | ||||||||
Biotechnology — 2.6% | ||||||||
4D Molecular Therapeutics Inc.(a) |
5,513 | 148,686 | ||||||
AbbVie Inc. |
467,115 | 50,387,695 | ||||||
ACADIA Pharmaceuticals Inc.(a) |
30,588 | 508,067 | ||||||
Acceleron Pharma Inc.(a)(b) |
13,658 | 2,350,542 | ||||||
Adagio Therapeutics Inc.(a) |
5,558 | 234,770 | ||||||
Affimed NV(a) |
27,618 | 170,679 | ||||||
Agenus Inc.(a) |
45,727 | 240,067 | ||||||
Agios Pharmaceuticals Inc.(a) |
16,356 | 754,829 | ||||||
Akebia Therapeutics Inc.(a) |
51,368 | 147,940 | ||||||
Akero Therapeutics Inc.(a)(b) |
8,039 | 179,672 | ||||||
Albireo Pharma Inc.(a)(b) |
4,940 | 154,128 | ||||||
Aldeyra Therapeutics Inc.(a) |
16,049 | 140,910 | ||||||
Alector Inc.(a)(b) |
16,256 | 370,962 | ||||||
Aligos Therapeutics Inc.(a)(b) |
7,012 | 108,756 | ||||||
Alkermes PLC(a) |
42,728 | 1,317,731 | ||||||
Allakos Inc.(a)(b) |
9,571 | 1,013,282 | ||||||
Allogene Therapeutics Inc.(a) |
15,657 | 402,385 | ||||||
Allovir Inc.(a) |
9,894 | 247,944 | ||||||
Alnylam Pharmaceuticals Inc.(a)(b) |
31,072 | 5,866,704 | ||||||
Altimmune Inc.(a) |
10,202 | 115,385 | ||||||
ALX Oncology Holdings Inc.(a) |
4,708 | 347,733 | ||||||
Amgen Inc. |
150,103 | 31,919,403 | ||||||
Amicus Therapeutics Inc.(a) |
70,807 | 676,207 | ||||||
AnaptysBio Inc.(a) |
7,306 | 198,139 | ||||||
Anavex Life Sciences Corp.(a)(b) |
19,387 | 347,997 | ||||||
Anika Therapeutics Inc.(a) |
4,130 | 175,773 | ||||||
Annexon Inc.(a) |
9,869 | 183,662 | ||||||
Apellis Pharmaceuticals Inc.(a) |
17,559 | 578,745 | ||||||
Applied Molecular Transport Inc.(a) |
5,973 | 154,521 | ||||||
Applied Therapeutics Inc.(a) |
6,374 | 105,808 | ||||||
Arcturus Therapeutics Holdings Inc.(a) |
5,948 | 284,195 | ||||||
Arcus Biosciences Inc.(a)(b) |
12,142 | 423,392 | ||||||
Arcutis Biotherapeutics Inc.(a)(b) |
6,252 | 149,360 | ||||||
Ardelyx Inc.(a)(b) |
42,168 | 55,662 | ||||||
Arena Pharmaceuticals Inc.(a) |
15,353 | 914,271 | ||||||
Arrowhead Pharmaceuticals Inc.(a) |
27,114 | 1,692,727 | ||||||
Atara Biotherapeutics Inc.(a) |
21,817 | 390,524 | ||||||
Athenex Inc.(a)(b) |
28,842 | 86,814 | ||||||
Athersys Inc.(a)(b) |
86,482 | 115,021 | ||||||
Atossa Therapeutics Inc.(a) |
37,911 | 123,590 | ||||||
Avid Bioservices Inc.(a)(b) |
16,824 | 362,894 | ||||||
Avidity Biosciences Inc.(a) |
9,167 | 225,783 | ||||||
Avita Medical Inc.(a)(b) |
7,555 | 133,875 | ||||||
Avrobio Inc.(a) |
15,502 | 86,501 | ||||||
Beam Therapeutics Inc.(a) |
12,696 | 1,104,679 | ||||||
Beyondspring Inc.(a) |
5,695 | 89,753 | ||||||
BioAtla Inc.(a)(b) |
3,125 | 92,000 | ||||||
BioCryst Pharmaceuticals Inc.(a) |
46,352 | 666,078 |
S C H E D U L E O F I N V E S T M E N T S |
39 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Biogen Inc.(a)(b) |
39,200 | $ | 11,093,208 | |||||
Biohaven Pharmaceutical Holding Co. Ltd.(a) |
14,590 | 2,026,697 | ||||||
BioMarin Pharmaceutical Inc.(a) |
47,951 | 3,706,133 | ||||||
Bioxcel Therapeutics Inc.(a) |
4,926 | 149,504 | ||||||
Bluebird Bio Inc.(a) |
17,400 | 332,514 | ||||||
Blueprint Medicines Corp.(a)(b) |
14,537 | 1,494,549 | ||||||
Bridgebio Pharma Inc.(a)(b) |
29,002 | 1,359,324 | ||||||
Brooklyn ImmunoTherapeutics Inc.(a) |
6,265 | 58,264 | ||||||
C4 Therapeutics Inc.(a) |
10,664 | 476,468 | ||||||
CareDx Inc.(a)(b) |
12,953 | 820,832 | ||||||
Caribou Biosciences Inc.(a) |
5,043 | 120,376 | ||||||
Catalyst Pharmaceuticals Inc.(a) |
24,537 | 130,046 | ||||||
Celldex Therapeutics Inc.(a) |
10,287 | 555,395 | ||||||
CEL-SCI Corp.(a)(b) |
11,202 | 123,110 | ||||||
Cerevel Therapeutics Holdings Inc.(a) |
13,564 | 400,138 | ||||||
ChemoCentryx Inc.(a)(b) |
13,414 | 229,379 | ||||||
Chimerix Inc.(a) |
19,143 | 118,495 | ||||||
Chinook Therapeutics Inc.(a) |
9,946 | 126,911 | ||||||
Clovis Oncology Inc.(a) |
30,042 | 133,987 | ||||||
Codiak Biosciences Inc.(a) |
6,077 | 99,237 | ||||||
Cogent Biosciences Inc.(a) |
14,713 | 123,736 | ||||||
Coherus Biosciences Inc.(a) |
16,670 | 267,887 | ||||||
Cortexyme Inc.(a) |
4,914 | 450,417 | ||||||
Crinetics Pharmaceuticals Inc.(a) |
7,311 | 153,897 | ||||||
Cue Biopharma Inc.(a) |
9,951 | 144,986 | ||||||
Cullinan Oncology Inc.(a)(b) |
5,431 | 122,578 | ||||||
CureVac NV(a)(b) |
14,567 | 795,650 | ||||||
Curis Inc.(a) |
22,710 | 177,819 | ||||||
Cytokinetics Inc.(a) |
20,405 | 729,275 | ||||||
CytomX Therapeutics Inc.(a) |
21,905 | 111,496 | ||||||
Deciphera Pharmaceuticals Inc.(a) |
10,116 | 343,742 | ||||||
Denali Therapeutics Inc.(a)(b) |
24,165 | 1,219,124 | ||||||
Dermtech Inc.(a)(b) |
6,214 | 199,532 | ||||||
Design Therapeutics Inc.(a)(b) |
5,403 | 79,370 | ||||||
Dicerna Pharmaceuticals Inc.(a)(b) |
16,168 | 325,947 | ||||||
Dynavax Technologies Corp.(a)(b) |
28,699 | 551,308 | ||||||
Dyne Therapeutics Inc.(a) |
10,249 | 166,444 | ||||||
Eagle Pharmaceuticals Inc./DE(a) |
3,218 | 179,500 | ||||||
Editas Medicine Inc.(a)(b) |
18,810 | 772,715 | ||||||
Emergent BioSolutions Inc.(a)(b) |
12,037 | 602,693 | ||||||
Enanta Pharmaceuticals Inc.(a) |
4,859 | 276,040 | ||||||
Epizyme Inc.(a) |
29,517 | 151,127 | ||||||
Evelo Biosciences Inc.(a)(b) |
11,839 | 83,347 | ||||||
Exact Sciences Corp.(a)(b) |
45,331 | 4,326,844 | ||||||
Exelixis Inc.(a) |
83,548 | 1,766,205 | ||||||
Fate Therapeutics Inc.(a) |
20,397 | 1,208,930 | ||||||
FibroGen Inc.(a) |
22,491 | 229,858 | ||||||
Flexion Therapeutics Inc.(a) |
17,252 | 105,237 | ||||||
Forma Therapeutics Holdings Inc.(a) |
8,158 | 189,184 | ||||||
Forte Biosciences Inc.(a)(b) |
6,418 | 18,997 | ||||||
G1 Therapeutics Inc.(a)(b) |
9,085 | 121,921 | ||||||
Generation Bio Co.(a)(b) |
10,875 | 272,636 | ||||||
Geron Corp.(a) |
99,049 | 135,697 | ||||||
Gilead Sciences Inc. |
333,155 | 23,270,877 | ||||||
Global Blood Therapeutics Inc.(a) |
16,168 | 411,961 | ||||||
Gossamer Bio Inc.(a)(b) |
24,271 | 305,086 | ||||||
Gritstone bio Inc.(a) |
15,368 | 165,974 | ||||||
Halozyme Therapeutics Inc.(a) |
36,029 | 1,465,660 | ||||||
Heron Therapeutics Inc.(a) |
22,770 | 243,411 | ||||||
Horizon Therapeutics PLC(a) |
57,646 | 6,314,543 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Humanigen Inc.(a)(b) |
13,769 | $ | 81,650 | |||||
iBio Inc.(a) |
83,870 | 88,902 | ||||||
Icosavax Inc.(a)(b) |
3,519 | 104,127 | ||||||
Ideaya Biosciences Inc.(a) |
7,175 | 182,891 | ||||||
IGM Biosciences Inc.(a) |
2,333 | 153,418 | ||||||
ImmunityBio Inc.(a)(b) |
19,550 | 190,417 | ||||||
ImmunoGen Inc.(a) |
55,406 | 314,152 | ||||||
Immunovant Inc.(a) |
13,377 | 116,246 | ||||||
Incyte Corp.(a) |
49,468 | 3,402,409 | ||||||
Inhibrx Inc.(a) |
8,817 | 293,694 | ||||||
Inovio Pharmaceuticals Inc.(a)(b) |
49,969 | 357,778 | ||||||
Insmed Inc.(a) |
27,349 | 753,191 | ||||||
Intellia Therapeutics Inc.(a)(b) |
17,796 | 2,387,333 | ||||||
Intercept Pharmaceuticals Inc.(a)(b) |
8,185 | 121,547 | ||||||
Invitae Corp.(a) |
53,396 | 1,518,048 | ||||||
Ionis Pharmaceuticals Inc.(a)(b) |
35,186 | 1,180,138 | ||||||
Iovance Biotherapeutics Inc.(a)(b) |
36,796 | 907,389 | ||||||
Ironwood Pharmaceuticals Inc.(a) |
40,587 | 530,066 | ||||||
iTeos Therapeutics Inc.(a) |
6,641 | 179,307 | ||||||
IVERIC bio Inc.(a) |
21,745 | 353,139 | ||||||
Kadmon Holdings Inc.(a) |
47,215 | 411,243 | ||||||
KalVista Pharmaceuticals Inc.(a) |
6,300 | 109,935 | ||||||
Karuna Therapeutics Inc.(a) |
5,945 | 727,252 | ||||||
Karyopharm Therapeutics Inc.(a)(b) |
22,622 | 131,660 | ||||||
Keros Therapeutics Inc.(a) |
4,113 | 162,710 | ||||||
Kiniksa Pharmaceuticals Ltd., Class A(a) |
9,712 | 110,620 | ||||||
Kinnate Biopharma Inc.(a) |
6,242 | 143,691 | ||||||
Kodiak Sciences Inc.(a)(b) |
8,811 | 845,680 | ||||||
Kronos Bio Inc.(a)(b) |
11,940 | 250,262 | ||||||
Krystal Biotech Inc.(a) |
4,236 | 221,162 | ||||||
Kura Oncology Inc.(a) |
16,773 | 314,158 | ||||||
Kymera Therapeutics Inc.(a) |
7,586 | 445,602 | ||||||
Ligand Pharmaceuticals Inc.(a) |
3,927 | 547,110 | ||||||
Lineage Cell Therapeutics Inc.(a) |
45,403 | 114,416 | ||||||
MacroGenics Inc.(a) |
15,444 | 323,397 | ||||||
Madrigal Pharmaceuticals Inc.(a) |
2,743 | 218,864 | ||||||
MannKind Corp.(a) |
60,376 | 262,636 | ||||||
MEI Pharma Inc.(a)(b) |
40,235 | 111,049 | ||||||
MeiraGTx Holdings PLC(a) |
10,559 | 139,168 | ||||||
Mersana Therapeutics Inc.(a) |
14,403 | 135,820 | ||||||
MiMedx Group Inc.(a) |
30,843 | 186,909 | ||||||
Mirati Therapeutics Inc.(a) |
10,812 | 1,912,751 | ||||||
Moderna Inc.(a) |
89,436 | 34,420,339 | ||||||
Molecular Templates Inc.(a) |
14,466 | 97,067 | ||||||
Morphic Holding Inc.(a) |
5,819 | 329,588 | ||||||
Myriad Genetics Inc.(a) |
18,243 | 589,066 | ||||||
Natera Inc.(a)(b) |
21,772 | 2,426,272 | ||||||
Neoleukin Therapeutics Inc.(a) |
13,402 | 96,896 | ||||||
Neurocrine Biosciences Inc.(a) |
25,418 | 2,437,840 | ||||||
Nkarta Inc.(a) |
4,391 | 122,114 | ||||||
Novavax Inc.(a)(b) |
19,667 | 4,077,166 | ||||||
Nurix Therapeutics Inc.(a) |
6,461 | 193,572 | ||||||
Ocugen Inc.(a)(b) |
48,427 | 347,706 | ||||||
Olema Pharmaceuticals Inc.(a)(b) |
5,002 | 137,855 | ||||||
Oncocyte Corp.(a) |
29,815 | 106,141 | ||||||
Oncorus Inc.(a) |
8,682 | 81,090 | ||||||
Oncternal Therapeutics Inc. New(b)(c) |
684 | 701 | ||||||
OPKO Health Inc.(a)(b) |
101,341 | 369,895 | ||||||
Organogenesis Holdings Inc., Class A(a)(b) |
10,038 | 142,941 | ||||||
ORIC Pharmaceuticals Inc.(a)(b) |
9,380 | 196,136 |
40 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Passage Bio Inc.(a) |
11,585 | $ | 115,387 | |||||
PMV Pharmaceuticals Inc.(a) |
8,348 | 248,770 | ||||||
Poseida Therapeutics Inc.(a)(b) |
14,927 | 108,818 | ||||||
Praxis Precision Medicines Inc.(a)(b) |
8,933 | 165,171 | ||||||
Precigen Inc.(a) |
20,932 | 104,451 | ||||||
Precision BioSciences Inc.(a)(b) |
15,751 | 181,767 | ||||||
Prelude Therapeutics Inc.(a) |
4,306 | 134,562 | ||||||
Protagonist Therapeutics Inc.(a) |
10,839 | 192,067 | ||||||
Prothena Corp. PLC(a) |
9,383 | 668,351 | ||||||
PTC Therapeutics Inc.(a)(b) |
19,942 | 742,042 | ||||||
Radius Health Inc.(a) |
13,305 | 165,115 | ||||||
RAPT Therapeutics Inc.(a) |
5,488 | 170,402 | ||||||
Recursion Pharmaceuticals Inc., Class A(a)(b) |
6,910 | 158,999 | ||||||
Regeneron Pharmaceuticals Inc.(a) |
26,559 | 16,072,976 | ||||||
REGENXBIO Inc.(a) |
9,324 | 390,862 | ||||||
Relay Therapeutics Inc.(a) |
15,796 | 498,048 | ||||||
Replimune Group Inc.(a) |
6,198 | 183,709 | ||||||
REVOLUTION Medicines Inc.(a) |
16,402 | 451,219 | ||||||
Rhythm Pharmaceuticals Inc.(a)(b) |
12,122 | 158,313 | ||||||
Rigel Pharmaceuticals Inc.(a)(b) |
44,149 | 160,261 | ||||||
Rocket Pharmaceuticals Inc.(a)(b) |
9,585 | 286,496 | ||||||
Rubius Therapeutics Inc.(a)(b) |
9,193 | 164,371 | ||||||
Sage Therapeutics Inc.(a)(b) |
13,619 | 603,458 | ||||||
Sana Biotechnology Inc.(a)(b) |
22,716 | 511,564 | ||||||
Sangamo Therapeutics Inc.(a)(b) |
33,928 | 305,691 | ||||||
Sarepta Therapeutics Inc.(a)(b) |
20,249 | 1,872,627 | ||||||
Scholar Rock Holding Corp.(a)(b) |
6,870 | 226,847 | ||||||
Seagen Inc.(a) |
35,659 | 6,054,898 | ||||||
Selecta Biosciences Inc.(a) |
30,168 | 125,499 | ||||||
Seres Therapeutics Inc.(a) |
18,318 | 127,493 | ||||||
Sesen Bio Inc.(a)(b) |
44,834 | 35,562 | ||||||
Shattuck Labs Inc.(a) |
8,347 | 170,112 | ||||||
Silverback Therapeutics Inc.(a)(b) |
4,774 | 47,645 | ||||||
Sorrento Therapeutics Inc.(a)(b) |
68,881 | 525,562 | ||||||
Spectrum Pharmaceuticals Inc.(a) |
53,202 | 115,980 | ||||||
Spero Therapeutics Inc.(a)(b) |
9,109 | 167,697 | ||||||
SpringWorks Therapeutics Inc.(a) |
7,169 | 454,801 | ||||||
SQZ Biotechnologies Co.(a) |
9,876 | 142,412 | ||||||
Stoke Therapeutics Inc.(a) |
5,840 | 148,570 | ||||||
Sutro Biopharma Inc.(a) |
8,303 | 156,844 | ||||||
Syndax Pharmaceuticals Inc.(a) |
7,929 | 151,523 | ||||||
Syros Pharmaceuticals Inc.(a) |
21,316 | 95,283 | ||||||
Taysha Gene Therapies Inc.(a)(b) |
8,222 | 153,094 | ||||||
TCR2 Therapeutics Inc.(a) |
9,480 | 80,675 | ||||||
TG Therapeutics Inc.(a) |
32,816 | 1,092,116 | ||||||
Tonix Pharmaceuticals Holding Corp.(a) |
139,922 | 84,107 | ||||||
Travere Therapeutics Inc.(a) |
16,964 | 411,377 | ||||||
Trillium Therapeutics Inc.(a) |
28,984 | 508,959 | ||||||
Turning Point Therapeutics Inc.(a)(b) |
12,403 | 823,931 | ||||||
Twist Bioscience Corp.(a)(b) |
12,676 | 1,355,952 | ||||||
Ultragenyx Pharmaceutical Inc.(a) |
16,880 | 1,522,407 | ||||||
United Therapeutics Corp.(a) |
11,986 | 2,212,376 | ||||||
UroGen Pharma Ltd.(a)(b) |
7,176 | 120,700 | ||||||
Vanda Pharmaceuticals Inc.(a) |
14,999 | 257,083 | ||||||
Vaxart Inc.(a)(b) |
31,332 | 249,089 | ||||||
Vaxcyte Inc.(a) |
10,474 | 265,725 | ||||||
VBI Vaccines Inc.(a)(b) |
46,466 | 144,509 | ||||||
Veracyte Inc.(a) |
17,510 | 813,339 | ||||||
Verastem Inc.(a) |
56,334 | 173,509 | ||||||
Vericel Corp.(a) |
11,677 | 569,838 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Vertex Pharmaceuticals Inc.(a) |
68,854 | $ | 12,489,427 | |||||
Verve Therapeutics Inc.(a) |
4,155 | 195,285 | ||||||
Viking Therapeutics Inc.(a) |
20,477 | 128,596 | ||||||
Vir Biotechnology Inc.(a) |
15,181 | 660,677 | ||||||
Viracta Therapeutics Inc.(a)(b) |
12,768 | 102,399 | ||||||
VistaGen Therapeutics Inc.(a) |
50,170 | 137,466 | ||||||
Xencor Inc.(a) |
15,026 | 490,749 | ||||||
Y-mAbs Therapeutics Inc.(a) |
7,196 | 205,374 | ||||||
Zentalis Pharmaceuticals Inc.(a) |
9,447 | 629,548 | ||||||
ZIOPHARM Oncology Inc.(a)(b) |
66,318 | 120,699 | ||||||
|
|
|||||||
305,458,012 | ||||||||
Building Products — 0.6% | ||||||||
A O Smith Corp. |
35,429 | 2,163,649 | ||||||
AAON Inc. |
10,618 | 693,780 | ||||||
Advanced Drainage Systems Inc. |
15,084 | 1,631,636 | ||||||
Allegion PLC |
24,243 | 3,204,440 | ||||||
American Woodmark Corp.(a) |
4,791 | 313,188 | ||||||
Apogee Enterprises Inc. |
7,093 | 267,832 | ||||||
Armstrong World Industries Inc. |
13,289 | 1,268,701 | ||||||
AZEK Co. Inc. (The)(a) |
28,823 | 1,052,904 | ||||||
Builders FirstSource Inc.(a) |
54,915 | 2,841,302 | ||||||
Carlisle Companies Inc. |
13,592 | 2,701,954 | ||||||
Carrier Global Corp. |
229,611 | 11,884,665 | ||||||
Cornerstone Building Brands Inc.(a)(b) |
11,508 | 168,132 | ||||||
CSW Industrials Inc. |
3,718 | 474,789 | ||||||
Fortune Brands Home & Security Inc. |
36,254 | 3,241,833 | ||||||
Gibraltar Industries Inc.(a) |
8,183 | 569,946 | ||||||
Griffon Corp. |
11,508 | 283,097 | ||||||
Insteel Industries Inc. |
4,311 | 164,033 | ||||||
JELD-WEN Holding Inc.(a) |
21,900 | 548,157 | ||||||
Johnson Controls International PLC |
189,365 | 12,891,969 | ||||||
Lennox International Inc. |
9,149 | 2,691,361 | ||||||
Masco Corp. |
65,154 | 3,619,305 | ||||||
Masonite International Corp.(a)(b) |
6,236 | 661,827 | ||||||
Owens Corning |
27,702 | 2,368,521 | ||||||
PGT Innovations Inc.(a) |
14,918 | 284,934 | ||||||
Quanex Building Products Corp. |
9,113 | 195,109 | ||||||
Resideo Technologies Inc.(a) |
38,077 | 943,929 | ||||||
Simpson Manufacturing Co. Inc. |
11,682 | 1,249,623 | ||||||
Trane Technologies PLC |
62,752 | 10,834,133 | ||||||
Trex Co. Inc.(a) |
31,346 | 3,195,098 | ||||||
UFP Industries Inc. |
16,427 | 1,116,707 | ||||||
View Inc.(a)(b) |
26,377 | 142,963 | ||||||
|
|
|||||||
73,669,517 | ||||||||
Capital Markets — 3.1% | ||||||||
Affiliated Managers Group Inc. |
10,913 | 1,648,845 | ||||||
Ameriprise Financial Inc. |
30,132 | 7,958,464 | ||||||
Apollo Global Management Inc. |
46,438 | 2,860,116 | ||||||
Ares Management Corp., Class A |
37,324 | 2,755,631 | ||||||
Artisan Partners Asset Management Inc., Class A |
15,009 | 734,240 | ||||||
Assetmark Financial Holdings Inc.(a) |
6,427 | 159,839 | ||||||
B. Riley Financial Inc. |
5,806 | 342,786 | ||||||
Bank of New York Mellon Corp. (The) |
209,619 | 10,866,649 | ||||||
BGC Partners Inc., Class A |
87,808 | 457,480 | ||||||
BlackRock Inc.(d) |
37,785 | 31,688,768 | ||||||
Blackstone Inc., NVS |
179,568 | 20,890,941 | ||||||
Blucora Inc.(a) |
13,224 | 206,162 | ||||||
BrightSphere Investment Group Inc. |
14,767 | 385,862 | ||||||
Carlyle Group Inc. (The) |
43,863 | 2,073,843 |
S C H E D U L E O F I N V E S T M E N T S |
41 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Capital Markets (continued) | ||||||||
Cboe Global Markets Inc. |
28,230 | $ | 3,496,568 | |||||
Charles Schwab Corp. (The) |
397,234 | 28,934,525 | ||||||
CME Group Inc. |
94,762 | 18,325,076 | ||||||
Cohen & Steers Inc. |
6,130 | 513,510 | ||||||
Cowen Inc., Class A |
6,205 | 212,894 | ||||||
Diamond Hill Investment Group Inc. |
691 | 121,381 | ||||||
Donnelley Financial Solutions Inc.(a) |
6,487 | 224,580 | ||||||
Evercore Inc., Class A |
10,618 | 1,419,308 | ||||||
FactSet Research Systems Inc. |
10,100 | 3,987,278 | ||||||
Federated Hermes Inc. |
26,953 | 875,973 | ||||||
Focus Financial Partners Inc., Class A(a) |
13,637 | 714,170 | ||||||
Franklin Resources Inc. |
75,981 | 2,258,155 | ||||||
GCM Grosvenor Inc., Class A |
11,322 | 130,429 | ||||||
Goldman Sachs Group Inc. (The) |
87,346 | 33,019,408 | ||||||
Hamilton Lane Inc., Class A |
8,155 | 691,707 | ||||||
Houlihan Lokey Inc. |
13,870 | 1,277,427 | ||||||
Interactive Brokers Group Inc., Class A |
21,927 | 1,366,929 | ||||||
Intercontinental Exchange Inc. |
146,982 | 16,876,473 | ||||||
Invesco Ltd. |
89,075 | 2,147,598 | ||||||
Janus Henderson Group PLC |
21,721 | 897,729 | ||||||
Jefferies Financial Group Inc. |
57,574 | 2,137,723 | ||||||
KKR & Co. Inc. |
145,942 | 8,884,949 | ||||||
Lazard Ltd., Class A |
26,539 | 1,215,486 | ||||||
LPL Financial Holdings Inc. |
21,079 | 3,304,344 | ||||||
MarketAxess Holdings Inc. |
10,053 | 4,229,197 | ||||||
Moelis & Co., Class A |
16,495 | 1,020,546 | ||||||
Moody’s Corp. |
42,706 | 15,165,328 | ||||||
Morgan Stanley |
359,930 | 35,024,788 | ||||||
Morningstar Inc. |
5,927 | 1,535,271 | ||||||
MSCI Inc. |
21,228 | 12,913,842 | ||||||
Nasdaq Inc. |
30,224 | 5,833,836 | ||||||
Northern Trust Corp. |
54,372 | 5,861,845 | ||||||
Open Lending Corp., Class A(a) |
27,050 | 975,693 | ||||||
Oppenheimer Holdings Inc., Class A, NVS |
2,814 | 127,446 | ||||||
Piper Sandler Cos. |
4,989 | 690,777 | ||||||
PJT Partners Inc., Class A |
6,366 | 503,614 | ||||||
Raymond James Financial Inc. |
48,924 | 4,514,707 | ||||||
S&P Global Inc. |
63,583 | 27,015,781 | ||||||
Sculptor Capital Management Inc. |
6,183 | 172,444 | ||||||
SEI Investments Co. |
29,710 | 1,761,803 | ||||||
State Street Corp. |
96,723 | 8,194,373 | ||||||
StepStone Group Inc., Class A |
11,421 | 486,991 | ||||||
Stifel Financial Corp. |
26,220 | 1,781,911 | ||||||
StoneX Group Inc.(a) |
5,327 | 351,049 | ||||||
T Rowe Price Group Inc. |
59,542 | 11,711,911 | ||||||
Tradeweb Markets Inc., Class A(b) |
27,806 | 2,246,169 | ||||||
Virtu Financial Inc., Class A |
23,782 | 580,994 | ||||||
Virtus Investment Partners Inc. |
1,783 | 553,301 | ||||||
WisdomTree Investments Inc. |
39,652 | 224,827 | ||||||
|
|
|||||||
359,541,690 | ||||||||
Chemicals — 1.3% | ||||||||
AdvanSix Inc.(a) |
7,922 | 314,900 | ||||||
Air Products & Chemicals Inc. |
58,191 | 14,903,297 | ||||||
Albemarle Corp. |
30,699 | 6,722,160 | ||||||
American Vanguard Corp. |
8,872 | 133,524 | ||||||
Amyris Inc.(a)(b) |
44,229 | 607,264 | ||||||
Ashland Global Holdings Inc. |
15,064 | 1,342,504 | ||||||
Avient Corp. |
25,418 | 1,178,124 | ||||||
Axalta Coating Systems Ltd.(a) |
56,020 | 1,635,224 | ||||||
Balchem Corp. |
8,955 | 1,299,102 |
Security | Shares | Value | ||||||
Chemicals (continued) | ||||||||
Cabot Corp. |
15,779 | $ | 790,843 | |||||
Celanese Corp. |
29,473 | 4,439,813 | ||||||
CF Industries Holdings Inc. |
57,184 | 3,192,011 | ||||||
Chase Corp. |
2,293 | 234,230 | ||||||
Chemours Co. (The) |
45,608 | 1,325,369 | ||||||
Corteva Inc. |
195,650 | 8,232,952 | ||||||
Danimer Scientific Inc.(a)(b) |
18,955 | 309,725 | ||||||
Diversey Holdings Ltd.(a)(b) |
11,749 | 188,454 | ||||||
Dow Inc. |
197,774 | 11,383,871 | ||||||
DuPont de Nemours Inc. |
138,388 | 9,409,000 | ||||||
Eastman Chemical Co. |
35,573 | 3,583,624 | ||||||
Ecolab Inc. |
66,236 | 13,818,154 | ||||||
Ecovyst Inc. |
12,107 | 141,168 | ||||||
Element Solutions Inc. |
59,272 | 1,285,017 | ||||||
Ferro Corp.(a) |
22,418 | 455,982 | ||||||
FMC Corp. |
33,854 | 3,099,672 | ||||||
GCP Applied Technologies Inc.(a) |
14,223 | 311,768 | ||||||
Hawkins Inc. |
4,506 | 157,169 | ||||||
HB Fuller Co. |
13,604 | 878,274 | ||||||
Huntsman Corp. |
54,586 | 1,615,200 | ||||||
Ingevity Corp.(a) |
11,231 | 801,556 | ||||||
Innospec Inc. |
6,549 | 551,557 | ||||||
International Flavors & Fragrances Inc. |
65,979 | 8,822,712 | ||||||
Koppers Holdings Inc.(a) |
5,236 | 163,677 | ||||||
Kraton Corp.(a) |
8,058 | 367,767 | ||||||
Kronos Worldwide Inc. |
9,643 | 119,670 | ||||||
Livent Corp.(a) |
39,660 | 916,543 | ||||||
LyondellBasell Industries NV, Class A |
69,818 | 6,552,419 | ||||||
Minerals Technologies Inc. |
9,771 | 682,407 | ||||||
Mosaic Co. (The) |
91,034 | 3,251,735 | ||||||
NewMarket Corp. |
1,856 | 628,757 | ||||||
Olin Corp. |
38,720 | 1,868,240 | ||||||
Orion Engineered Carbons SA(a) |
16,084 | 293,211 | ||||||
PPG Industries Inc. |
62,186 | 8,893,220 | ||||||
PureCycle Technologies Inc.(a)(b) |
9,251 | 122,853 | ||||||
Quaker Chemical Corp. |
3,570 | 848,660 | ||||||
Rayonier Advanced Materials Inc.(a) |
17,732 | 132,990 | ||||||
RPM International Inc. |
33,405 | 2,593,898 | ||||||
Scotts Miracle-Gro Co. (The) |
10,792 | 1,579,517 | ||||||
Sensient Technologies Corp. |
11,486 | 1,046,145 | ||||||
Sherwin-Williams Co. (The) |
64,529 | 18,050,697 | ||||||
Stepan Co. |
6,142 | 693,677 | ||||||
Tredegar Corp. |
9,688 | 118,000 | ||||||
Trinseo SA |
9,865 | 532,513 | ||||||
Tronox Holdings PLC, Class A |
27,127 | 668,681 | ||||||
Valvoline Inc. |
46,823 | 1,459,941 | ||||||
Westlake Chemical Corp. |
8,308 | 757,191 | ||||||
|
|
|||||||
155,506,629 | ||||||||
Commercial Services & Supplies — 0.5% | ||||||||
ABM Industries Inc. |
17,637 | 793,841 | ||||||
ACCO Brands Corp. |
27,951 | 240,099 | ||||||
ADT Inc. |
42,056 | 340,233 | ||||||
Brady Corp., Class A, NVS |
12,799 | 648,909 | ||||||
BrightView Holdings Inc.(a) |
14,011 | 206,802 | ||||||
Brink’s Co. (The) |
13,393 | 847,777 | ||||||
Casella Waste Systems Inc., Class A(a) |
13,364 | 1,014,862 | ||||||
Cimpress PLC(a) |
4,479 | 388,912 | ||||||
Cintas Corp. |
23,151 | 8,812,660 | ||||||
Clean Harbors Inc.(a) |
13,569 | 1,409,412 | ||||||
Copart Inc.(a) |
55,022 | 7,632,652 |
42 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Commercial Services & Supplies (continued) | ||||||||
CoreCivic Inc.(a) |
30,750 | $ | 273,675 | |||||
Covanta Holding Corp. |
30,006 | 603,721 | ||||||
Deluxe Corp. |
10,958 | 393,283 | ||||||
Driven Brands Holdings Inc.(a) |
12,894 | 372,508 | ||||||
Ennis Inc. |
6,551 | 123,486 | ||||||
Harsco Corp.(a) |
22,973 | 389,392 | ||||||
Healthcare Services Group Inc. |
20,349 | 508,521 | ||||||
Heritage-Crystal Clean Inc.(a) |
5,270 | 152,725 | ||||||
Herman Miller Inc. |
21,162 | 796,961 | ||||||
HNI Corp. |
11,753 | 431,570 | ||||||
IAA Inc.(a) |
36,459 | 1,989,568 | ||||||
Interface Inc. |
14,517 | 219,933 | ||||||
KAR Auction Services Inc.(a) |
36,459 | 597,563 | ||||||
Kimball International Inc., Class B |
10,609 | 118,821 | ||||||
Matthews International Corp., Class A |
7,969 | 276,445 | ||||||
Montrose Environmental Group Inc.(a) |
5,793 | 357,660 | ||||||
MSA Safety Inc. |
9,693 | 1,412,270 | ||||||
Pitney Bowes Inc. |
43,058 | 310,448 | ||||||
Republic Services Inc. |
55,631 | 6,679,058 | ||||||
Rollins Inc. |
61,100 | 2,158,663 | ||||||
RR Donnelley & Sons Co.(a) |
23,686 | 121,746 | ||||||
SP Plus Corp.(a) |
5,993 | 183,805 | ||||||
Steelcase Inc., Class A |
25,394 | 321,996 | ||||||
Stericycle Inc.(a) |
24,189 | 1,644,126 | ||||||
Tetra Tech Inc. |
14,318 | 2,138,250 | ||||||
U.S. Ecology Inc.(a) |
9,146 | 295,873 | ||||||
UniFirst Corp./MA |
3,544 | 753,525 | ||||||
Viad Corp.(a) |
5,068 | 230,138 | ||||||
VSE Corp. |
2,985 | 143,787 | ||||||
Waste Management Inc. |
111,692 | 16,682,317 | ||||||
|
|
|||||||
63,017,993 | ||||||||
Communications Equipment — 0.8% | ||||||||
ADTRAN Inc. |
14,211 | 266,598 | ||||||
Arista Networks Inc.(a) |
16,009 | 5,501,333 | ||||||
Aviat Networks Inc.(a) |
1,761 | 57,866 | ||||||
CalAmp Corp.(a) |
11,586 | 115,281 | ||||||
Calix Inc.(a)(b) |
14,459 | 714,708 | ||||||
Cambium Networks Corp.(a) |
2,866 | 103,721 | ||||||
Ciena Corp.(a) |
41,989 | 2,156,135 | ||||||
Cisco Systems Inc. |
1,117,326 | 60,816,054 | ||||||
Clearfield Inc.(a) |
3,427 | 151,302 | ||||||
CommScope Holding Co. Inc.(a)(b) |
50,393 | 684,841 | ||||||
Comtech Telecommunications Corp. |
7,643 | 195,737 | ||||||
Digi International Inc.(a) |
6,489 | 136,399 | ||||||
DZS Inc.(a) |
6,233 | 76,417 | ||||||
EMCORE Corp.(a) |
13,197 | 98,714 | ||||||
Extreme Networks Inc.(a) |
29,316 | 288,763 | ||||||
F5 Networks Inc.(a) |
15,824 | 3,145,495 | ||||||
Harmonic Inc.(a) |
25,158 | 220,132 | ||||||
Infinera Corp.(a)(b) |
39,865 | 331,677 | ||||||
Inseego Corp.(a)(b) |
20,368 | 135,651 | ||||||
Juniper Networks Inc. |
88,360 | 2,431,667 | ||||||
Lumentum Holdings Inc.(a) |
20,401 | 1,704,300 | ||||||
Motorola Solutions Inc. |
43,845 | 10,186,070 | ||||||
NETGEAR Inc.(a)(b) |
8,768 | 279,787 | ||||||
NetScout Systems Inc.(a) |
20,031 | 539,835 | ||||||
Plantronics Inc.(a) |
9,222 | 237,098 | ||||||
Ribbon Communications Inc.(a) |
20,986 | 125,496 | ||||||
Ubiquiti Inc. |
1,850 | 552,539 | ||||||
Viasat Inc.(a) |
17,808 | 980,687 |
Security | Shares | Value | ||||||
Communications Equipment (continued) | ||||||||
Viavi Solutions Inc.(a) |
64,268 | $ | 1,011,578 | |||||
|
|
|||||||
93,245,881 | ||||||||
Construction & Engineering — 0.2% | ||||||||
AECOM(a) |
36,121 | 2,281,041 | ||||||
Ameresco Inc., Class A(a) |
7,296 | 426,305 | ||||||
API Group Corp.(a)(e) |
52,143 | 1,061,110 | ||||||
Arcosa Inc. |
12,871 | 645,738 | ||||||
Argan Inc. |
3,865 | 168,785 | ||||||
Comfort Systems USA Inc. |
9,128 | 651,009 | ||||||
Construction Partners Inc., Class A(a)(b) |
8,930 | 297,994 | ||||||
Dycom Industries Inc.(a) |
8,319 | 592,646 | ||||||
EMCOR Group Inc. |
14,029 | 1,618,666 | ||||||
Fluor Corp.(a) |
39,247 | 626,775 | ||||||
Granite Construction Inc. |
13,458 | 532,264 | ||||||
Great Lakes Dredge & Dock Corp.(a) |
14,804 | 223,392 | ||||||
IES Holdings Inc.(a) |
2,964 | 135,425 | ||||||
MasTec Inc.(a) |
15,080 | 1,301,102 | ||||||
MYR Group Inc.(a) |
4,930 | 490,535 | ||||||
NV5 Global Inc.(a) |
2,737 | 269,786 | ||||||
Primoris Services Corp. |
11,564 | 283,202 | ||||||
Quanta Services Inc. |
37,283 | 4,243,551 | ||||||
Sterling Construction Co. Inc.(a)(b) |
6,822 | 154,655 | ||||||
Tutor Perini Corp.(a) |
9,769 | 126,802 | ||||||
Valmont Industries Inc. |
5,543 | 1,303,270 | ||||||
WillScot Mobile Mini Holdings Corp.(a) |
55,035 | 1,745,710 | ||||||
|
|
|||||||
19,179,763 | ||||||||
Construction Materials — 0.1% | ||||||||
Eagle Materials Inc. |
10,655 | 1,397,510 | ||||||
Forterra Inc.(a) |
9,812 | 231,171 | ||||||
Martin Marietta Materials Inc. |
16,240 | 5,548,883 | ||||||
Summit Materials Inc., Class A(a)(b) |
32,113 | 1,026,653 | ||||||
Vulcan Materials Co. |
34,451 | 5,827,731 | ||||||
|
|
|||||||
14,031,948 | ||||||||
Consumer Finance — 0.7% | ||||||||
Ally Financial Inc. |
95,462 | 4,873,335 | ||||||
American Express Co. |
170,241 | 28,520,475 | ||||||
Capital One Financial Corp. |
116,702 | 18,902,223 | ||||||
Credit Acceptance Corp.(a)(b) |
2,301 | 1,346,775 | ||||||
Discover Financial Services |
79,304 | 9,742,497 | ||||||
Encore Capital Group Inc.(a)(b) |
8,768 | 431,999 | ||||||
Enova International Inc.(a) |
10,115 | 349,473 | ||||||
FirstCash Inc. |
11,248 | 984,200 | ||||||
Green Dot Corp., Class A(a) |
14,236 | 716,498 | ||||||
LendingClub Corp.(a)(b) |
25,877 | 730,767 | ||||||
LendingTree Inc.(a)(b) |
2,936 | 410,541 | ||||||
Navient Corp. |
43,366 | 855,611 | ||||||
Nelnet Inc., Class A |
4,443 | 352,063 | ||||||
OneMain Holdings Inc. |
27,518 | 1,522,571 | ||||||
Oportun Financial Corp.(a) |
6,251 | 156,463 | ||||||
PRA Group Inc.(a) |
12,338 | 519,923 | ||||||
PROG Holdings Inc. |
18,732 | 786,931 | ||||||
Regional Management Corp. |
2,741 | 159,472 | ||||||
Santander Consumer USA Holdings Inc. |
17,453 | 727,790 | ||||||
SLM Corp. |
80,745 | 1,421,112 | ||||||
Synchrony Financial |
150,066 | 7,335,226 | ||||||
Upstart Holdings Inc.(a) |
11,945 | 3,779,876 | ||||||
World Acceptance Corp.(a) |
990 | 187,684 | ||||||
|
|
|||||||
84,813,505 |
S C H E D U L E O F I N V E S T M E N T S |
43 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Containers & Packaging — 0.4% | ||||||||
Amcor PLC |
411,759 | $ | 4,772,287 | |||||
AptarGroup Inc. |
17,157 | 2,047,688 | ||||||
Ardagh Group SA |
4,924 | 125,513 | ||||||
Avery Dennison Corp. |
21,770 | 4,510,962 | ||||||
Ball Corp. |
84,657 | 7,616,590 | ||||||
Berry Global Group Inc.(a) |
35,177 | 2,141,576 | ||||||
Crown Holdings Inc. |
33,854 | 3,411,806 | ||||||
Graphic Packaging Holding Co. |
72,889 | 1,387,807 | ||||||
Greif Inc., Class A, NVS |
6,359 | 410,791 | ||||||
Greif Inc., Class B |
2,007 | 130,054 | ||||||
International Paper Co. |
103,831 | 5,806,229 | ||||||
Myers Industries Inc. |
9,768 | 191,160 | ||||||
O-I Glass Inc.(a) |
43,889 | 626,296 | ||||||
Packaging Corp. of America |
24,475 | 3,363,844 | ||||||
Pactiv Evergreen Inc. |
10,647 | 133,300 | ||||||
Ranpak Holdings Corp.(a)(b) |
10,524 | 282,254 | ||||||
Sealed Air Corp. |
40,212 | 2,203,215 | ||||||
Silgan Holdings Inc. |
22,174 | 850,595 | ||||||
Sonoco Products Co. |
26,221 | 1,562,247 | ||||||
TriMas Corp.(a) |
9,917 | 320,914 | ||||||
UFP Technologies Inc.(a) |
1,991 | 122,626 | ||||||
Westrock Co. |
70,422 | 3,509,128 | ||||||
|
|
|||||||
45,526,882 | ||||||||
Distributors — 0.1% | ||||||||
Funko Inc., Class A(a) |
6,447 | 117,400 | ||||||
Genuine Parts Co. |
37,729 | 4,573,887 | ||||||
LKQ Corp.(a) |
71,835 | 3,614,737 | ||||||
Pool Corp. |
10,298 | 4,473,554 | ||||||
|
|
|||||||
12,779,578 | ||||||||
Diversified Consumer Services — 0.2% | ||||||||
2U Inc.(a)(b) |
18,643 | 625,845 | ||||||
Adtalem Global Education Inc.(a) |
12,821 | 484,762 | ||||||
American Public Education Inc.(a) |
5,616 | 143,826 | ||||||
Bright Horizons Family Solutions Inc.(a) |
16,396 | 2,285,930 | ||||||
Carriage Services Inc. |
3,930 | 175,239 | ||||||
Chegg Inc.(a) |
37,605 | 2,557,892 | ||||||
Coursera Inc.(a) |
15,188 | 480,700 | ||||||
frontdoor Inc.(a) |
22,970 | 962,443 | ||||||
Graham Holdings Co., Class B |
1,036 | 610,370 | ||||||
Grand Canyon Education Inc.(a) |
11,460 | 1,008,022 | ||||||
H&R Block Inc. |
48,945 | 1,223,625 | ||||||
Houghton Mifflin Harcourt Co.(a) |
27,150 | 364,624 | ||||||
Laureate Education Inc., Class A(a) |
25,081 | 426,126 | ||||||
Mister Car Wash Inc.(a) |
10,879 | 198,542 | ||||||
OneSpaWorld Holdings Ltd.(a) |
12,267 | 122,302 | ||||||
Perdoceo Education Corp.(a) |
20,301 | 214,379 | ||||||
PowerSchool Holdings Inc., Class A(a) |
11,334 | 278,930 | ||||||
Service Corp. International |
43,932 | 2,647,342 | ||||||
Strategic Education Inc. |
5,954 | 419,757 | ||||||
Stride Inc.(a)(b) |
11,223 | 403,355 | ||||||
Terminix Global Holdings Inc.(a) |
33,050 | 1,377,193 | ||||||
Vivint Smart Home Inc.(a)(b) |
18,904 | 178,643 | ||||||
WW International Inc.(a) |
11,733 | 214,127 | ||||||
|
|
|||||||
17,403,974 | ||||||||
Diversified Financial Services — 1.2% | ||||||||
Alerus Financial Corp. |
4,143 | 123,793 | ||||||
A-Mark Precious Metals Inc. |
2,590 | 155,452 | ||||||
Banco Latinoamericano de Comercio Exterior SA, Class E |
10,974 | 192,484 |
Security | Shares | Value | ||||||
Diversified Financial Services (continued) | ||||||||
Berkshire Hathaway Inc., Class B(a) |
490,871 | $ | 133,978,331 | |||||
Cannae Holdings Inc.(a) |
22,329 | 694,655 | ||||||
Equitable Holdings Inc. |
97,826 | 2,899,562 | ||||||
Voya Financial Inc. |
29,856 | 1,832,860 | ||||||
|
|
|||||||
139,877,137 | ||||||||
Diversified Telecommunication Services — 1.0% | ||||||||
Anterix Inc.(a)(b) |
3,127 | 189,809 | ||||||
AT&T Inc. |
1,888,601 | 51,011,113 | ||||||
ATN International Inc. |
3,085 | 144,532 | ||||||
Bandwidth Inc., Class A(a) |
6,055 | 546,645 | ||||||
Cogent Communications Holdings Inc. |
11,622 | 823,303 | ||||||
Consolidated Communications Holdings Inc.(a) |
16,168 | 148,584 | ||||||
EchoStar Corp., Class A(a)(b) |
9,755 | 248,850 | ||||||
Globalstar Inc.(a) |
164,541 | 274,784 | ||||||
IDT Corp., Class B(a) |
5,287 | 221,790 | ||||||
Iridium Communications Inc.(a) |
31,848 | 1,269,143 | ||||||
Liberty Latin America Ltd., Class A(a)(b) |
11,543 | 150,982 | ||||||
Liberty Latin America Ltd., Class C, NVS(a) |
41,600 | 545,792 | ||||||
Lumen Technologies Inc. |
293,375 | 3,634,916 | ||||||
Ooma Inc.(a) |
8,041 | 149,643 | ||||||
Radius Global Infrastructure Inc., Class A(a) |
15,956 | 260,562 | ||||||
Verizon Communications Inc. |
1,095,637 | 59,175,354 | ||||||
|
|
|||||||
118,795,802 | ||||||||
Electric Utilities — 1.4% | ||||||||
ALLETE Inc. |
14,183 | 844,172 | ||||||
Alliant Energy Corp. |
66,079 | 3,699,102 | ||||||
American Electric Power Co. Inc. |
132,580 | 10,762,844 | ||||||
Avangrid Inc. |
14,987 | 728,368 | ||||||
Duke Energy Corp. |
203,410 | 19,850,782 | ||||||
Edison International |
98,868 | 5,484,208 | ||||||
Entergy Corp. |
52,351 | 5,198,978 | ||||||
Evergy Inc. |
61,582 | 3,830,400 | ||||||
Eversource Energy |
90,123 | 7,368,457 | ||||||
Exelon Corp. |
258,228 | 12,482,742 | ||||||
FirstEnergy Corp. |
146,152 | 5,205,934 | ||||||
Hawaiian Electric Industries Inc. |
29,397 | 1,200,280 | ||||||
IDACORP Inc. |
14,005 | 1,447,837 | ||||||
MGE Energy Inc. |
9,554 | 702,219 | ||||||
NextEra Energy Inc. |
518,275 | 40,694,953 | ||||||
NRG Energy Inc. |
66,156 | 2,701,149 | ||||||
OGE Energy Corp. |
52,090 | 1,716,886 | ||||||
Otter Tail Corp. |
10,639 | 595,465 | ||||||
PG&E Corp.(a) |
401,450 | 3,853,920 | ||||||
Pinnacle West Capital Corp. |
29,510 | 2,135,344 | ||||||
PNM Resources Inc. |
22,027 | 1,089,896 | ||||||
Portland General Electric Co. |
21,903 | 1,029,222 | ||||||
PPL Corp. |
203,944 | 5,685,959 | ||||||
Southern Co. (The) |
279,933 | 17,347,448 | ||||||
Xcel Energy Inc. |
141,228 | 8,826,750 | ||||||
|
|
|||||||
164,483,315 | ||||||||
Electrical Equipment — 0.7% | ||||||||
Acuity Brands Inc. |
9,684 | 1,678,915 | ||||||
Allied Motion Technologies Inc. |
3,719 | 116,330 | ||||||
American Superconductor Corp.(a) |
8,990 | 131,074 | ||||||
AMETEK Inc. |
60,691 | 7,526,291 | ||||||
Array Technologies Inc.(a)(b) |
33,334 | 617,346 | ||||||
Atkore Inc.(a) |
11,985 | 1,041,736 | ||||||
AZZ Inc. |
6,773 | 360,324 | ||||||
Babcock & Wilcox Enterprises Inc.(a) |
17,385 | 111,438 |
44 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Electrical Equipment (continued) | ||||||||
Blink Charging Co.(a)(b) |
9,989 | $ | 285,785 | |||||
Bloom Energy Corp., Class A(a)(b) |
36,425 | 681,876 | ||||||
ChargePoint Holdings Inc.(a) |
27,748 | 554,683 | ||||||
Eaton Corp. PLC |
105,489 | 15,750,563 | ||||||
Emerson Electric Co. |
157,852 | 14,869,658 | ||||||
Encore Wire Corp. |
5,125 | 486,004 | ||||||
EnerSys |
11,569 | 861,196 | ||||||
Eos Energy Enterprises Inc.(a)(b) |
11,310 | 158,679 | ||||||
FuelCell Energy Inc.(a) |
84,996 | 568,623 | ||||||
Generac Holdings Inc.(a) |
16,184 | 6,613,915 | ||||||
GrafTech International Ltd. |
46,086 | 475,608 | ||||||
Hubbell Inc. |
14,731 | 2,661,450 | ||||||
nVent Electric PLC |
44,472 | 1,437,780 | ||||||
Plug Power Inc.(a) |
132,680 | 3,388,647 | ||||||
Regal Beloit Corp. |
10,913 | 1,640,660 | ||||||
Rockwell Automation Inc. |
30,722 | 9,033,497 | ||||||
Romeo Power Inc.(a)(b) |
15,304 | 75,755 | ||||||
Sensata Technologies Holding PLC(a) |
40,645 | 2,224,094 | ||||||
Shoals Technologies Group Inc., Class A(a)(b) |
27,006 | 752,927 | ||||||
Stem Inc.(a) |
12,436 | 297,096 | ||||||
Sunrun Inc.(a)(b) |
52,764 | 2,321,616 | ||||||
Thermon Group Holdings Inc.(a) |
8,810 | 152,501 | ||||||
TPI Composites Inc.(a)(b) |
7,830 | 264,263 | ||||||
Vertiv Holdings Co. |
74,491 | 1,794,488 | ||||||
Vicor Corp.(a)(b) |
4,748 | 636,992 | ||||||
|
|
|||||||
79,571,810 | ||||||||
Electronic Equipment, Instruments & Components — 0.7% | ||||||||
908 Devices Inc.(a) |
3,389 | 110,210 | ||||||
Advanced Energy Industries Inc. |
10,768 | 944,892 | ||||||
Aeva Technologies Inc.(a) |
10,973 | 87,126 | ||||||
Akoustis Technologies Inc.(a)(b) |
13,323 | 129,233 | ||||||
Amphenol Corp., Class A |
154,431 | 11,308,982 | ||||||
Arlo Technologies Inc.(a) |
21,818 | 139,853 | ||||||
Arrow Electronics Inc.(a) |
18,754 | 2,105,887 | ||||||
Avnet Inc. |
26,930 | 995,602 | ||||||
Badger Meter Inc. |
7,248 | 733,063 | ||||||
Belden Inc. |
10,748 | 626,178 | ||||||
Benchmark Electronics Inc. |
10,714 | 286,171 | ||||||
CDW Corp./DE |
36,188 | 6,586,940 | ||||||
Cognex Corp. |
45,495 | 3,649,609 | ||||||
Coherent Inc.(a) |
6,454 | 1,614,081 | ||||||
Corning Inc. |
200,833 | 7,328,396 | ||||||
CTS Corp. |
8,336 | 257,666 | ||||||
ePlus Inc.(a) |
3,826 | 392,586 | ||||||
Fabrinet(a) |
9,499 | 973,742 | ||||||
FARO Technologies Inc.(a) |
4,236 | 278,771 | ||||||
II-VI Inc.(a)(b) |
28,086 | 1,667,185 | ||||||
Insight Enterprises Inc.(a) |
8,920 | 803,514 | ||||||
IPG Photonics Corp.(a) |
9,460 | 1,498,464 | ||||||
Itron Inc.(a) |
11,872 | 897,879 | ||||||
Jabil Inc. |
37,282 | 2,176,150 | ||||||
Keysight Technologies Inc.(a)(b) |
49,135 | 8,072,389 | ||||||
Kimball Electronics Inc.(a) |
6,078 | 156,630 | ||||||
Knowles Corp.(a) |
26,256 | 492,037 | ||||||
Littelfuse Inc. |
6,333 | 1,730,619 | ||||||
Luna Innovations Inc.(a)(b) |
9,849 | 93,566 | ||||||
Methode Electronics Inc. |
9,352 | 393,252 | ||||||
MicroVision Inc.(a)(b) |
42,006 | 464,166 | ||||||
Napco Security Technologies Inc.(a)(b) |
3,837 | 165,298 | ||||||
National Instruments Corp. |
35,222 | 1,381,759 |
Security | Shares | Value | ||||||
Electronic Equipment, Instruments & Components (continued) | ||||||||
nLight Inc.(a) |
10,973 | $ | 309,329 | |||||
Novanta Inc.(a) |
9,026 | 1,394,517 | ||||||
OSI Systems Inc.(a) |
4,976 | 471,725 | ||||||
Ouster Inc.(a)(b) |
11,676 | 85,468 | ||||||
PAR Technology Corp.(a)(b) |
5,120 | 314,931 | ||||||
PC Connection Inc. |
3,008 | 132,442 | ||||||
Plexus Corp.(a) |
7,508 | 671,290 | ||||||
Rogers Corp.(a) |
5,023 | 936,689 | ||||||
Sanmina Corp.(a) |
18,142 | 699,193 | ||||||
ScanSource Inc.(a) |
6,800 | 236,572 | ||||||
SYNNEX Corp. |
11,015 | 1,146,662 | ||||||
Teledyne Technologies Inc.(a) |
12,227 | 5,252,475 | ||||||
Trimble Inc.(a) |
65,913 | 5,421,344 | ||||||
TTM Technologies Inc.(a) |
24,248 | 304,797 | ||||||
Velodyne Lidar Inc.(a)(b) |
18,568 | 109,923 | ||||||
Vishay Intertechnology Inc. |
38,149 | 766,413 | ||||||
Vishay Precision Group Inc.(a) |
3,341 | 116,167 | ||||||
Vontier Corp. |
47,227 | 1,586,827 | ||||||
Zebra Technologies Corp., Class A(a) |
14,056 | 7,244,744 | ||||||
|
|
|||||||
85,743,404 | ||||||||
Energy Equipment & Services — 0.3% | ||||||||
Archrock Inc. |
35,351 | 291,646 | ||||||
Aspen Aerogels Inc.(a) |
5,948 | 273,667 | ||||||
Baker Hughes Co. |
196,781 | 4,866,394 | ||||||
Bristow Group Inc.(a) |
6,223 | 198,078 | ||||||
Cactus Inc., Class A |
12,630 | 476,404 | ||||||
ChampionX Corp.(a)(b) |
51,808 | 1,158,427 | ||||||
DMC Global Inc.(a) |
3,609 | 133,208 | ||||||
Dril-Quip Inc.(a) |
10,013 | 252,127 | ||||||
Frank’s International NV(a) |
49,645 | 145,956 | ||||||
Halliburton Co. |
236,055 | 5,103,509 | ||||||
Helix Energy Solutions Group Inc.(a) |
35,965 | 139,544 | ||||||
Helmerich & Payne Inc. |
29,297 | 803,031 | ||||||
Liberty Oilfield Services Inc., Class A(a) |
21,528 | 261,135 | ||||||
Nabors Industries Ltd.(a) |
2,264 | 218,431 | ||||||
National Energy Services Reunited Corp.(a)(b) |
10,984 | 137,520 | ||||||
NexTier Oilfield Solutions Inc.(a) |
41,086 | 188,996 | ||||||
NOV Inc.(a) |
105,824 | 1,387,353 | ||||||
Oceaneering International Inc.(a) |
24,931 | 332,081 | ||||||
Oil States International Inc.(a)(b) |
23,262 | 148,644 | ||||||
Patterson-UTI Energy Inc. |
45,036 | 405,324 | ||||||
ProPetro Holding Corp.(a) |
20,153 | 174,323 | ||||||
Schlumberger NV |
368,252 | 10,914,989 | ||||||
Select Energy Services Inc., Class A(a) |
22,735 | 117,995 | ||||||
Solaris Oilfield Infrastructure Inc., Class A |
15,848 | 132,172 | ||||||
TETRA Technologies Inc.(a) |
42,144 | 131,489 | ||||||
Tidewater Inc.(a) |
14,243 | 171,771 | ||||||
U.S. Silica Holdings Inc.(a) |
21,501 | 171,793 | ||||||
|
|
|||||||
28,736,007 | ||||||||
Entertainment — 1.9% | ||||||||
Activision Blizzard Inc. |
203,822 | 15,773,785 | ||||||
AMC Entertainment Holdings Inc., Class A(a)(b) |
135,834 | 5,169,842 | ||||||
Chicken Soup For The Soul Entertainment Inc.(a) |
4,151 | 94,933 | ||||||
Cinemark Holdings Inc.(a) |
29,449 | 565,715 | ||||||
CuriosityStream Inc.(a)(b) |
8,479 | 89,369 | ||||||
Electronic Arts Inc. |
74,705 | 10,626,786 | ||||||
Eros STX Global Corp.(a)(b) |
115,588 | 106,283 | ||||||
IMAX Corp.(a)(b) |
14,965 | 284,036 | ||||||
Liberty Media Corp.-Liberty Braves, Class C, NVS(a) |
8,693 | 229,669 |
S C H E D U L E O F I N V E S T M E N T S |
45 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Entertainment (continued) | ||||||||
Liberty Media Corp.-Liberty Formula One, Class A(a)(b) |
6,493 | $ | 305,496 | |||||
Liberty Media Corp.-Liberty Formula One, Class C, NVS(a) |
52,277 | 2,687,561 | ||||||
Lions Gate Entertainment Corp., Class A(a)(b) |
14,339 | 203,470 | ||||||
Lions Gate Entertainment Corp., Class B, NVS(a) |
33,932 | 441,116 | ||||||
Live Nation Entertainment Inc.(a) |
35,832 | 3,265,370 | ||||||
Madison
Square Garden Entertainment |
6,926 | 503,312 | ||||||
Madison Square Garden Sports Corp.(a) |
5,312 | 987,766 | ||||||
Marcus Corp. (The)(a) |
7,322 | 127,769 | ||||||
Netflix Inc.(a) |
114,190 | 69,694,725 | ||||||
Playtika Holding Corp.(a) |
27,515 | 760,239 | ||||||
Roku Inc.(a) |
30,854 | 9,668,101 | ||||||
Skillz Inc.(a)(b) |
78,339 | 769,289 | ||||||
Spotify Technology SA(a) |
36,255 | 8,169,702 | ||||||
Take-Two Interactive Software Inc.(a) |
30,208 | 4,654,147 | ||||||
Walt Disney Co. (The)(a) |
480,058 | 81,211,412 | ||||||
World Wrestling Entertainment Inc., Class A |
11,674 | 656,779 | ||||||
Zynga Inc., Class A(a) |
265,225 | 1,997,144 | ||||||
|
|
|||||||
219,043,816 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 3.2% | ||||||||
Acadia Realty Trust |
24,879 | 507,780 | ||||||
Agree Realty Corp. |
16,811 | 1,113,393 | ||||||
Alexander & Baldwin Inc. |
20,034 | 469,597 | ||||||
Alexander’s Inc. |
561 | 146,208 | ||||||
Alexandria Real Estate Equities Inc. |
40,872 | 7,809,413 | ||||||
American Assets Trust Inc. |
12,489 | 467,338 | ||||||
American Campus Communities Inc. |
37,443 | 1,814,113 | ||||||
American Finance Trust Inc. |
28,815 | 231,673 | ||||||
American Homes 4 Rent, Class A |
75,244 | 2,868,301 | ||||||
American Tower Corp. |
119,303 | 31,664,209 | ||||||
Americold Realty Trust |
67,380 | 1,957,389 | ||||||
Apartment Income REIT Corp. |
40,546 | 1,979,050 | ||||||
Apartment Investment & Management Co., Class A |
40,546 | 277,740 | ||||||
Apple Hospitality REIT Inc. |
54,443 | 856,388 | ||||||
Armada Hoffler Properties Inc. |
15,071 | 201,499 | ||||||
Ashford Hospitality Trust Inc.(a)(b) |
5,084 | 74,837 | ||||||
AvalonBay Communities Inc. |
36,545 | 8,099,834 | ||||||
Boston Properties Inc. |
41,011 | 4,443,542 | ||||||
Brandywine Realty Trust |
49,830 | 668,719 | ||||||
Brixmor Property Group Inc. |
80,706 | 1,784,410 | ||||||
Broadstone Net Lease Inc. |
36,145 | 896,757 | ||||||
Camden Property Trust |
25,318 | 3,733,646 | ||||||
CareTrust REIT Inc. |
26,969 | 548,010 | ||||||
CatchMark Timber Trust Inc., Class A |
17,093 | 202,894 | ||||||
Centerspace |
3,093 | 292,289 | ||||||
Chatham Lodging Trust(a) |
12,976 | 158,956 | ||||||
City Office REIT Inc. |
13,057 | 233,198 | ||||||
Columbia Property Trust Inc. |
32,386 | 615,982 | ||||||
Community Healthcare Trust Inc. |
5,876 | 265,536 | ||||||
CorePoint Lodging Inc.(a) |
11,543 | 178,917 | ||||||
CoreSite Realty Corp. |
11,360 | 1,573,814 | ||||||
Corporate Office Properties Trust |
29,962 | 808,375 | ||||||
Cousins Properties Inc. |
40,066 | 1,494,061 | ||||||
Crown Castle International Corp. |
114,159 | 19,786,038 | ||||||
CubeSmart |
52,132 | 2,525,795 | ||||||
CyrusOne Inc. |
32,799 | 2,538,971 | ||||||
DiamondRock Hospitality Co.(a) |
56,264 | 531,695 | ||||||
Digital Realty Trust Inc. |
73,998 | 10,689,011 | ||||||
DigitalBridge Group Inc.(a) |
129,478 | 780,752 |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
Diversified Healthcare Trust |
66,338 | $ | 224,886 | |||||
Douglas Emmett Inc. |
45,267 | 1,430,890 | ||||||
Duke Realty Corp. |
98,886 | 4,733,673 | ||||||
Easterly Government Properties Inc. |
20,426 | 422,001 | ||||||
EastGroup Properties Inc. |
10,281 | 1,713,123 | ||||||
Empire State Realty Trust Inc., Class A |
38,938 | 390,548 | ||||||
EPR Properties |
20,793 | 1,026,758 | ||||||
Equinix Inc. |
23,570 | 18,623,364 | ||||||
Equity Commonwealth(a) |
32,397 | 841,674 | ||||||
Equity LifeStyle Properties Inc. |
45,228 | 3,532,307 | ||||||
Equity Residential |
96,672 | 7,822,698 | ||||||
Essential Properties Realty Trust Inc. |
28,160 | 786,227 | ||||||
Essex Property Trust Inc. |
16,988 | 5,431,743 | ||||||
Extra Space Storage Inc. |
34,530 | 5,800,695 | ||||||
Farmland Partners Inc. |
10,308 | 123,593 | ||||||
Federal Realty Investment Trust |
20,536 | 2,423,043 | ||||||
First Industrial Realty Trust Inc. |
34,640 | 1,804,051 | ||||||
Four Corners Property Trust Inc. |
18,521 | 497,474 | ||||||
Franklin Street Properties Corp., Class C |
28,214 | 130,913 | ||||||
Gaming and Leisure Properties Inc. |
59,512 | 2,756,596 | ||||||
GEO Group Inc. (The) |
33,696 | 251,709 | ||||||
Getty Realty Corp. |
8,872 | 260,038 | ||||||
Gladstone Commercial Corp. |
9,848 | 207,103 | ||||||
Gladstone Land Corp. |
5,993 | 136,461 | ||||||
Global Medical REIT Inc. |
11,716 | 172,225 | ||||||
Global Net Lease Inc. |
25,512 | 408,702 | ||||||
Healthcare Realty Trust Inc. |
36,802 | 1,095,964 | ||||||
Healthcare Trust of America Inc., Class A |
59,643 | 1,769,011 | ||||||
Healthpeak Properties Inc. |
142,518 | 4,771,503 | ||||||
Hersha Hospitality Trust, Class A(a) |
13,490 | 125,862 | ||||||
Highwoods Properties Inc. |
27,268 | 1,195,975 | ||||||
Host Hotels & Resorts Inc.(a) |
188,290 | 3,074,776 | ||||||
Hudson Pacific Properties Inc. |
41,143 | 1,080,827 | ||||||
Independence Realty Trust Inc. |
24,972 | 508,180 | ||||||
Indus Realty Trust Inc. |
2,063 | 144,616 | ||||||
Industrial Logistics Properties Trust |
16,567 | 420,968 | ||||||
Innovative Industrial Properties Inc. |
6,348 | 1,467,467 | ||||||
Invitation Homes Inc. |
152,757 | 5,855,176 | ||||||
Iron Mountain Inc. |
75,123 | 3,264,094 | ||||||
iStar Inc. |
16,003 | 401,355 | ||||||
JBG SMITH Properties |
33,195 | 982,904 | ||||||
Kilroy Realty Corp. |
31,246 | 2,068,798 | ||||||
Kimco Realty Corp. |
156,366 | 3,244,595 | ||||||
Kite Realty Group Trust |
20,726 | 421,981 | ||||||
Lamar Advertising Co., Class A |
23,442 | 2,659,495 | ||||||
Lexington Realty Trust |
74,134 | 945,209 | ||||||
Life Storage Inc. |
20,041 | 2,299,504 | ||||||
LTC Properties Inc. |
9,930 | 314,682 | ||||||
Macerich Co. (The) |
51,087 | 853,664 | ||||||
Mack-Cali Realty Corp.(a) |
24,315 | 416,273 | ||||||
Medical Properties Trust Inc. |
153,095 | 3,072,617 | ||||||
Mid-America Apartment Communities Inc. |
30,571 | 5,709,134 | ||||||
Monmouth Real Estate Investment Corp. |
27,659 | 515,840 | ||||||
National Health Investors Inc. |
11,450 | 612,575 | ||||||
National Retail Properties Inc. |
46,693 | 2,016,671 | ||||||
National Storage Affiliates Trust |
20,584 | 1,086,629 | ||||||
NETSTREIT Corp. |
14,216 | 336,208 | ||||||
NexPoint Residential Trust Inc. |
6,243 | 386,317 | ||||||
Office Properties Income Trust |
12,798 | 324,173 | ||||||
Omega Healthcare Investors Inc. |
61,493 | 1,842,330 |
46 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
One Liberty Properties Inc. |
4,642 | $ | 141,535 | |||||
Outfront Media Inc. |
39,314 | 990,713 | ||||||
Paramount Group Inc. |
47,277 | 425,020 | ||||||
Park Hotels & Resorts Inc.(a) |
66,387 | 1,270,647 | ||||||
Pebblebrook Hotel Trust |
34,668 | 776,910 | ||||||
Phillips Edison & Co. Inc. |
4,934 | 151,523 | ||||||
Physicians Realty Trust |
55,573 | 979,196 | ||||||
Piedmont Office Realty Trust Inc., Class A |
34,146 | 595,165 | ||||||
Plymouth Industrial REIT Inc. |
6,990 | 159,023 | ||||||
PotlatchDeltic Corp. |
17,566 | 906,054 | ||||||
Preferred Apartment Communities Inc. |
15,151 | 185,297 | ||||||
Prologis Inc. |
195,388 | 24,507,517 | ||||||
PS Business Parks Inc. |
5,289 | 828,998 | ||||||
Public Storage |
39,932 | 11,863,797 | ||||||
Rayonier Inc. |
34,765 | 1,240,415 | ||||||
Realty Income Corp. |
103,226 | 6,695,238 | ||||||
Regency Centers Corp. |
44,942 | 3,025,945 | ||||||
Retail Opportunity Investments Corp. |
29,216 | 508,943 | ||||||
Retail Properties of America Inc., Class A |
56,153 | 723,251 | ||||||
Retail Value Inc. |
5,212 | 137,232 | ||||||
Rexford Industrial Realty Inc. |
35,795 | 2,031,366 | ||||||
RLJ Lodging Trust |
46,209 | 686,666 | ||||||
RPT Realty |
18,744 | 239,173 | ||||||
Ryman Hospitality Properties Inc.(a) |
14,339 | 1,200,174 | ||||||
Sabra Health Care REIT Inc. |
54,047 | 795,572 | ||||||
Safehold Inc.(b) |
5,260 | 378,141 | ||||||
Saul Centers Inc. |
3,218 | 141,785 | ||||||
SBA Communications Corp. |
28,473 | 9,412,320 | ||||||
Seritage Growth Properties, Class A(a) |
8,627 | 127,938 | ||||||
Service Properties Trust |
43,506 | 487,702 | ||||||
Simon Property Group Inc. |
86,066 | 11,185,998 | ||||||
SITE Centers Corp. |
39,983 | 617,338 | ||||||
SL Green Realty Corp. |
18,711 | 1,325,487 | ||||||
Spirit Realty Capital Inc. |
29,755 | 1,369,920 | ||||||
STAG Industrial Inc. |
44,288 | 1,738,304 | ||||||
STORE Capital Corp. |
65,439 | 2,096,011 | ||||||
Summit Hotel Properties Inc.(a) |
29,514 | 284,220 | ||||||
Sun Communities Inc. |
30,349 | 5,617,600 | ||||||
Sunstone Hotel Investors Inc.(a) |
54,296 | 648,294 | ||||||
Tanger Factory Outlet Centers Inc. |
23,568 | 384,158 | ||||||
Terreno Realty Corp. |
18,696 | 1,182,148 | ||||||
UDR Inc. |
79,161 | 4,193,950 | ||||||
UMH Properties Inc. |
9,771 | 223,756 | ||||||
Uniti Group Inc. |
52,077 | 644,193 | ||||||
Universal Health Realty Income Trust |
3,265 | 180,457 | ||||||
Urban Edge Properties |
30,417 | 556,935 | ||||||
Urstadt Biddle Properties Inc., Class A |
9,314 | 176,314 | ||||||
Ventas Inc. |
102,116 | 5,637,824 | ||||||
VEREIT Inc. |
59,374 | 2,685,486 | ||||||
VICI Properties Inc. |
155,540 | 4,418,891 | ||||||
Vornado Realty Trust |
47,646 | 2,001,609 | ||||||
Washington REIT |
23,919 | 591,995 | ||||||
Welltower Inc. |
112,031 | 9,231,354 | ||||||
Weyerhaeuser Co. |
196,890 | 7,003,377 | ||||||
Whitestone REIT |
15,847 | 154,984 | ||||||
WP Carey Inc. |
47,086 | 3,439,161 | ||||||
Xenia Hotels & Resorts Inc.(a) |
30,984 | 549,656 | ||||||
|
|
|||||||
372,280,674 | ||||||||
Food & Staples Retailing — 1.3% | ||||||||
Albertsons Companies Inc., Class A |
42,108 | 1,310,822 |
Security | Shares | Value | ||||||
Food & Staples Retailing (continued) | ||||||||
Andersons Inc. (The) |
9,891 | $ | 304,940 | |||||
BJ’s Wholesale Club Holdings Inc.(a) |
37,058 | 2,035,225 | ||||||
Casey’s General Stores Inc. |
10,045 | 1,892,980 | ||||||
Chefs’ Warehouse Inc. (The)(a) |
7,626 | 248,379 | ||||||
Costco Wholesale Corp. |
116,748 | 52,460,714 | ||||||
Grocery Outlet Holding Corp.(a) |
22,266 | 480,278 | ||||||
Ingles Markets Inc., Class A |
4,257 | 281,090 | ||||||
Kroger Co. (The) |
198,002 | 8,005,221 | ||||||
Performance Food Group Co.(a) |
40,116 | 1,863,789 | ||||||
PriceSmart Inc. |
6,014 | 466,386 | ||||||
Rite Aid Corp.(a) |
14,798 | 210,132 | ||||||
SpartanNash Co. |
9,065 | 198,523 | ||||||
Sprouts Farmers Market Inc.(a) |
30,968 | 717,529 | ||||||
Sysco Corp. |
128,939 | 10,121,711 | ||||||
U.S. Foods Holding Corp.(a) |
58,718 | 2,035,166 | ||||||
United Natural Foods Inc.(a) |
16,469 | 797,429 | ||||||
Walmart Inc. |
379,275 | 52,863,349 | ||||||
Walgreens Boots Alliance Inc. |
189,699 | 8,925,338 | ||||||
Weis Markets Inc. |
2,759 | 144,985 | ||||||
|
|
|||||||
145,363,986 | ||||||||
Food Products — 0.9% | ||||||||
AppHarvest Inc.(a)(b) |
16,071 | 104,783 | ||||||
Archer-Daniels-Midland Co. |
147,129 | 8,829,211 | ||||||
B&G Foods Inc.(b) |
17,011 | 508,459 | ||||||
Beyond Meat Inc.(a)(b) |
15,177 | 1,597,531 | ||||||
Bunge Ltd. |
37,026 | 3,010,954 | ||||||
Calavo Growers Inc. |
4,164 | 159,231 | ||||||
Cal-Maine Foods Inc. |
8,414 | 304,250 | ||||||
Campbell Soup Co. |
52,930 | 2,213,003 | ||||||
Conagra Brands Inc. |
123,297 | 4,176,069 | ||||||
Darling Ingredients Inc.(a) |
42,667 | 3,067,757 | ||||||
Flowers Foods Inc. |
47,596 | 1,124,694 | ||||||
Fresh Del Monte Produce Inc. |
9,010 | 290,302 | ||||||
Freshpet Inc.(a) |
10,708 | 1,527,925 | ||||||
General Mills Inc. |
161,490 | 9,660,332 | ||||||
Hain Celestial Group Inc. (The)(a) |
23,568 | 1,008,239 | ||||||
Hershey Co. (The) |
38,658 | 6,542,867 | ||||||
Hormel Foods Corp. |
74,422 | 3,051,302 | ||||||
Hostess Brands Inc.(a)(b) |
32,465 | 563,917 | ||||||
Ingredion Inc. |
18,018 | 1,603,782 | ||||||
J&J Snack Foods Corp. |
4,143 | 633,133 | ||||||
JM Smucker Co. (The) |
27,844 | 3,342,115 | ||||||
John B Sanfilippo & Son Inc. |
1,984 | 162,132 | ||||||
Kellogg Co. |
66,082 | 4,223,961 | ||||||
Kraft Heinz Co. (The) |
176,283 | 6,490,740 | ||||||
Lamb Weston Holdings Inc. |
39,013 | 2,394,228 | ||||||
Lancaster Colony Corp. |
5,089 | 859,074 | ||||||
Limoneira Co. |
7,389 | 119,480 | ||||||
McCormick & Co. Inc./MD, NVS |
66,558 | 5,393,195 | ||||||
Mission Produce Inc.(a) |
7,309 | 134,339 | ||||||
Mondelez International Inc., Class A |
369,053 | 21,471,504 | ||||||
Pilgrim’s Pride Corp.(a) |
15,054 | 437,770 | ||||||
Post Holdings Inc.(a) |
16,050 | 1,768,068 | ||||||
Sanderson Farms Inc. |
5,243 | 986,733 | ||||||
Seaboard Corp. |
75 | 307,499 | ||||||
Seneca Foods Corp., Class A(a) |
2,112 | 101,841 | ||||||
Simply Good Foods Co. (The)(a) |
22,697 | 782,820 | ||||||
Tattooed Chef Inc.(a)(b) |
12,439 | 229,251 | ||||||
Tootsie Roll Industries Inc. |
3,976 | 120,990 | ||||||
TreeHouse Foods Inc.(a) |
13,353 | 532,518 |
S C H E D U L E O F I N V E S T M E N T S |
47 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Food Products (continued) | ||||||||
Tyson Foods Inc., Class A |
75,524 | $ | 5,961,865 | |||||
Utz Brands Inc. |
15,698 | 268,907 | ||||||
Vital Farms Inc.(a)(b) |
7,086 | 124,501 | ||||||
Whole Earth Brands Inc.(a) |
11,507 | 132,906 | ||||||
|
|
|||||||
106,324,178 | ||||||||
Gas Utilities — 0.1% | ||||||||
Atmos Energy Corp. |
34,522 | 3,044,840 | ||||||
Brookfield Infrastructure Corp., Class A |
14,135 | 846,404 | ||||||
Chesapeake Utilities Corp. |
4,585 | 550,429 | ||||||
National Fuel Gas Co. |
22,608 | 1,187,372 | ||||||
New Jersey Resources Corp. |
26,552 | 924,275 | ||||||
Northwest Natural Holding Co. |
8,738 | 401,861 | ||||||
ONE Gas Inc. |
14,531 | 920,830 | ||||||
South Jersey Industries Inc. |
25,730 | 547,020 | ||||||
Southwest Gas Holdings Inc. |
15,264 | 1,020,856 | ||||||
Spire Inc. |
13,603 | 832,232 | ||||||
UGI Corp. |
56,720 | 2,417,406 | ||||||
|
|
|||||||
12,693,525 | ||||||||
Health Care Equipment & Supplies — 3.6% | ||||||||
Abbott Laboratories |
459,236 | 54,249,549 | ||||||
ABIOMED Inc.(a) |
11,703 | 3,809,561 | ||||||
Accuray Inc.(a) |
31,702 | 125,223 | ||||||
Align Technology Inc.(a) |
20,807 | 13,845,602 | ||||||
Alphatec Holdings Inc.(a) |
14,692 | 179,095 | ||||||
AngioDynamics Inc.(a) |
10,281 | 266,689 | ||||||
Apyx Medical Corp.(a) |
13,679 | 189,454 | ||||||
Asensus Surgical Inc.(a) |
67,774 | 125,382 | ||||||
Aspira Women’s Health Inc.(a)(b) |
27,639 | 89,827 | ||||||
AtriCure Inc.(a) |
12,117 | 842,737 | ||||||
Atrion Corp. |
382 | 266,445 | ||||||
Avanos Medical Inc.(a) |
12,141 | 378,799 | ||||||
Axogen Inc.(a) |
8,354 | 131,993 | ||||||
Axonics Inc.(a) |
10,910 | 710,132 | ||||||
Baxter International Inc. |
132,433 | 10,651,586 | ||||||
Becton Dickinson and Co. |
75,686 | 18,605,132 | ||||||
BioLife Solutions Inc.(a) |
6,762 | 286,168 | ||||||
Boston Scientific Corp.(a) |
374,471 | 16,248,297 | ||||||
Butterfly Network Inc.(a)(b) |
48,048 | 501,621 | ||||||
Cardiovascular Systems Inc.(a) |
10,023 | 329,055 | ||||||
Cerus Corp.(a) |
39,055 | 237,845 | ||||||
ClearPoint Neuro Inc.(a) |
7,564 | 134,261 | ||||||
CONMED Corp. |
7,017 | 918,034 | ||||||
Cooper Companies Inc. (The) |
12,770 | 5,277,969 | ||||||
CryoLife Inc.(a) |
10,618 | 236,675 | ||||||
CryoPort Inc.(a)(b) |
10,161 | 675,808 | ||||||
Cutera Inc.(a) |
4,135 | 192,691 | ||||||
CytoSorbents Corp.(a) |
15,792 | 128,231 | ||||||
Danaher Corp. |
167,637 | 51,035,408 | ||||||
DENTSPLY SIRONA Inc. |
58,718 | 3,408,580 | ||||||
Dexcom Inc.(a) |
25,485 | 13,936,727 | ||||||
Eargo Inc.(a) |
6,744 | 45,387 | ||||||
Edwards Lifesciences Corp.(a) |
163,183 | 18,473,947 | ||||||
Envista Holdings Corp.(a) |
43,422 | 1,815,474 | ||||||
Figs Inc., Class A(a)(b) |
10,026 | 372,366 | ||||||
Glaukos Corp.(a)(b) |
11,925 | 574,427 | ||||||
Globus Medical Inc., Class A(a) |
20,045 | 1,535,848 | ||||||
Haemonetics Corp.(a) |
13,781 | 972,801 | ||||||
Heska Corp.(a) |
2,529 | 653,848 | ||||||
Hill-Rom Holdings Inc. |
17,624 | 2,643,600 |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
Hologic Inc.(a) |
66,762 | $ | 4,927,703 | |||||
ICU Medical Inc.(a) |
5,140 | 1,199,573 | ||||||
IDEXX Laboratories Inc.(a) |
22,339 | 13,892,624 | ||||||
Inari Medical Inc.(a) |
9,113 | 739,064 | ||||||
Inogen Inc.(a) |
4,700 | 202,523 | ||||||
Insulet Corp.(a) |
17,460 | 4,962,656 | ||||||
Integer Holdings Corp.(a) |
9,154 | 817,818 | ||||||
Integra LifeSciences Holdings Corp.(a) |
19,422 | 1,330,019 | ||||||
Intersect ENT Inc.(a) |
7,945 | 216,104 | ||||||
Intuitive Surgical Inc.(a) |
31,211 | 31,028,416 | ||||||
iRhythm Technologies Inc.(a) |
8,017 | 469,476 | ||||||
Lantheus Holdings Inc.(a) |
19,113 | 490,822 | ||||||
LeMaitre Vascular Inc. |
4,795 | 254,567 | ||||||
LivaNova PLC(a) |
13,880 | 1,099,157 | ||||||
Masimo Corp.(a) |
13,271 | 3,592,592 | ||||||
Medtronic PLC |
354,974 | 44,495,991 | ||||||
Meridian Bioscience Inc.(a) |
10,168 | 195,632 | ||||||
Merit Medical Systems Inc.(a) |
14,244 | 1,022,719 | ||||||
Mesa Laboratories Inc. |
1,393 | 421,187 | ||||||
Natus Medical Inc.(a) |
8,859 | 222,184 | ||||||
Neogen Corp.(a) |
28,534 | 1,239,232 | ||||||
Neuronetics Inc.(a) |
10,716 | 70,297 | ||||||
Nevro Corp.(a) |
9,146 | 1,064,411 | ||||||
Novocure Ltd.(a) |
27,066 | 3,144,257 | ||||||
NuVasive Inc.(a) |
14,460 | 865,431 | ||||||
OraSure Technologies Inc.(a) |
16,349 | 184,907 | ||||||
Ortho Clinical Diagnostics Holdings PLC(a) |
23,816 | 440,120 | ||||||
Orthofix Medical Inc.(a) |
4,641 | 176,915 | ||||||
OrthoPediatrics Corp.(a)(b) |
2,878 | 188,538 | ||||||
Outset Medical Inc.(a)(b) |
12,674 | 626,603 | ||||||
PAVmed Inc.(a) |
24,018 | 205,114 | ||||||
Penumbra Inc.(a) |
9,014 | 2,402,231 | ||||||
Pulmonx Corp.(a) |
8,078 | 290,646 | ||||||
Quidel Corp.(a) |
10,175 | 1,436,201 | ||||||
ResMed Inc. |
37,969 | 10,006,730 | ||||||
SeaSpine Holdings Corp.(a) |
10,176 | 160,068 | ||||||
Senseonics Holdings Inc.(a)(b) |
108,943 | 369,317 | ||||||
Shockwave Medical Inc.(a)(b) |
8,945 | 1,841,597 | ||||||
SI-BONE Inc.(a) |
7,632 | 163,477 | ||||||
Sientra Inc.(a) |
19,148 | 109,718 | ||||||
Silk Road Medical Inc.(a) |
7,251 | 399,023 | ||||||
STAAR Surgical Co.(a) |
12,722 | 1,635,159 | ||||||
Stereotaxis Inc.(a) |
18,381 | 98,890 | ||||||
STERIS PLC |
22,605 | 4,617,749 | ||||||
Stryker Corp. |
92,465 | 24,384,870 | ||||||
Surmodics Inc.(a) |
3,867 | 215,005 | ||||||
Tactile Systems Technology Inc.(a) |
4,750 | 211,137 | ||||||
Tandem Diabetes Care Inc.(a)(b) |
15,973 | 1,906,857 | ||||||
Teleflex Inc. |
12,371 | 4,658,300 | ||||||
TransMedics Group Inc.(a) |
6,792 | 224,747 | ||||||
Treace Medical Concepts Inc.(a) |
4,686 | 126,053 | ||||||
Vapotherm Inc.(a) |
6,763 | 150,612 | ||||||
Varex Imaging Corp.(a) |
9,875 | 278,475 | ||||||
ViewRay Inc.(a) |
40,612 | 292,813 | ||||||
West Pharmaceutical Services Inc. |
19,422 | 8,245,416 | ||||||
Zimmer Biomet Holdings Inc. |
55,010 | 8,051,264 | ||||||
|
|
|||||||
417,165,281 | ||||||||
Health Care Providers & Services — 2.4% | ||||||||
1Life Healthcare Inc.(a) |
31,051 | 628,783 | ||||||
Acadia Healthcare Co. Inc.(a) |
23,093 | 1,472,872 |
48 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Health Care Providers & Services (continued) | ||||||||
Accolade Inc.(a)(b) |
13,268 | $ | 559,512 | |||||
AdaptHealth Corp.(a)(b) |
20,267 | 472,018 | ||||||
Addus HomeCare Corp.(a) |
3,504 | 279,444 | ||||||
Agiliti Inc.(a) |
7,311 | 139,201 | ||||||
agilon health Inc.(a)(b) |
14,563 | 381,696 | ||||||
Alignment Healthcare Inc.(a)(b) |
7,782 | 124,356 | ||||||
Amedisys Inc.(a) |
8,829 | 1,316,404 | ||||||
AmerisourceBergen Corp. |
39,663 | 4,737,745 | ||||||
AMN Healthcare Services Inc.(a) |
12,278 | 1,408,900 | ||||||
Anthem Inc. |
64,678 | 24,111,958 | ||||||
Apollo Medical Holdings Inc.(a)(b) |
9,373 | 853,412 | ||||||
Apria Inc.(a) |
3,972 | 147,560 | ||||||
Aveanna Healthcare Holdings Inc.(a) |
13,664 | 109,585 | ||||||
Brookdale Senior Living Inc.(a) |
49,771 | 313,557 | ||||||
Cardinal Health Inc. |
76,798 | 3,798,429 | ||||||
Castle Biosciences Inc.(a)(b) |
4,373 | 290,805 | ||||||
Centene Corp.(a) |
152,963 | 9,531,125 | ||||||
Chemed Corp. |
4,201 | 1,953,969 | ||||||
Cigna Corp. |
88,568 | 17,727,771 | ||||||
Community Health Systems Inc.(a) |
32,021 | 374,646 | ||||||
CorVel Corp.(a) |
2,099 | 390,876 | ||||||
Covetrus Inc.(a) |
31,327 | 568,272 | ||||||
Cross Country Healthcare Inc.(a) |
12,076 | 256,494 | ||||||
CVS Health Corp. |
349,073 | 29,622,335 | ||||||
DaVita Inc.(a) |
18,879 | 2,194,873 | ||||||
Encompass Health Corp. |
25,721 | 1,930,104 | ||||||
Ensign Group Inc. (The) |
13,789 | 1,032,658 | ||||||
Fulgent Genetics Inc.(a) |
5,285 | 475,386 | ||||||
Guardant Health Inc.(a)(b) |
24,273 | 3,034,368 | ||||||
Hanger Inc.(a) |
9,693 | 212,858 | ||||||
HCA Healthcare Inc. |
66,809 | 16,215,880 | ||||||
HealthEquity Inc.(a) |
21,649 | 1,401,989 | ||||||
Henry Schein Inc.(a) |
37,102 | 2,825,688 | ||||||
Humana Inc. |
34,226 | 13,319,048 | ||||||
Innovage Holding Corp.(a) |
8,188 | 54,123 | ||||||
Joint Corp. (The)(a) |
2,844 | 278,769 | ||||||
Laboratory Corp. of America Holdings(a) |
25,737 | 7,243,421 | ||||||
LHC Group Inc.(a)(b) |
8,231 | 1,291,526 | ||||||
LifeStance Health Group Inc.(a) |
12,217 | 177,147 | ||||||
Magellan Health Inc.(a) |
6,506 | 615,142 | ||||||
McKesson Corp. |
41,062 | 8,186,942 | ||||||
MEDNAX Inc.(a) |
20,821 | 591,941 | ||||||
ModivCare Inc.(a) |
3,110 | 564,838 | ||||||
Molina Healthcare Inc.(a) |
15,325 | 4,157,826 | ||||||
National HealthCare Corp. |
3,527 | 246,819 | ||||||
National Research Corp. |
3,787 | 159,698 | ||||||
Oak Street Health Inc.(a)(b) |
27,765 | 1,180,845 | ||||||
Ontrak Inc.(a) |
3,675 | 36,897 | ||||||
Option Care Health Inc.(a) |
39,387 | 955,529 | ||||||
Owens & Minor Inc. |
19,617 | 613,816 | ||||||
Patterson Companies Inc. |
21,703 | 654,128 | ||||||
Pennant Group Inc. (The)(a) |
6,918 | 194,327 | ||||||
PetIQ Inc.(a) |
5,230 | 130,593 | ||||||
Premier Inc., Class A |
32,970 | 1,277,917 | ||||||
Privia Health Group Inc.(a) |
5,662 | 133,397 | ||||||
Progyny Inc.(a) |
17,032 | 953,792 | ||||||
Quest Diagnostics Inc. |
32,306 | 4,694,385 | ||||||
R1 RCM Inc.(a) |
30,990 | 682,090 | ||||||
RadNet Inc.(a) |
9,693 | 284,102 | ||||||
Select Medical Holdings Corp. |
30,641 | 1,108,285 |
Security | Shares | Value | ||||||
Health Care Providers & Services (continued) | ||||||||
Signify Health Inc., Class A(a)(b) |
16,698 | $ | 298,393 | |||||
Surgery Partners Inc.(a)(b) |
7,040 | 298,074 | ||||||
Tenet Healthcare Corp.(a) |
27,692 | 1,839,856 | ||||||
Tivity Health Inc.(a) |
11,781 | 271,670 | ||||||
Triple-S Management Corp.(a) |
6,430 | 227,429 | ||||||
U.S. Physical Therapy Inc. |
3,554 | 393,072 | ||||||
UnitedHealth Group Inc. |
248,732 | 97,189,542 | ||||||
Universal Health Services Inc., Class B |
20,009 | 2,768,645 | ||||||
|
|
|||||||
283,969,553 | ||||||||
Health Care Technology — 0.3% | ||||||||
Allscripts Healthcare Solutions Inc.(a) |
31,739 | 424,350 | ||||||
American Well Corp., Class A(a)(b) |
52,571 | 478,922 | ||||||
Cerner Corp. |
79,023 | 5,572,702 | ||||||
Certara Inc.(a) |
21,966 | 727,075 | ||||||
Change Healthcare Inc.(a) |
68,122 | 1,426,475 | ||||||
Computer Programs & Systems Inc. |
4,025 | 142,726 | ||||||
Evolent Health Inc., Class A(a)(b) |
22,640 | 701,840 | ||||||
Health Catalyst Inc.(a)(b) |
12,157 | 607,971 | ||||||
HealthStream Inc.(a) |
6,939 | 198,317 | ||||||
Icad Inc.(a) |
7,725 | 83,044 | ||||||
Inovalon Holdings Inc., Class A(a) |
20,924 | 843,028 | ||||||
Inspire Medical Systems Inc.(a) |
7,044 | 1,640,407 | ||||||
Multiplan Corp.(a) |
59,746 | 336,370 | ||||||
NextGen Healthcare Inc.(a) |
13,361 | 188,390 | ||||||
Omnicell Inc.(a) |
11,653 | 1,729,655 | ||||||
OptimizeRx Corp.(a)(b) |
5,187 | 443,748 | ||||||
Phreesia Inc.(a) |
12,862 | 793,585 | ||||||
Schrodinger Inc.(a) |
12,116 | 662,503 | ||||||
Simulations Plus Inc.(b) |
4,191 | 165,544 | ||||||
Tabula Rasa HealthCare Inc.(a)(b) |
4,788 | 125,493 | ||||||
Teladoc Health Inc.(a) |
40,030 | 5,076,204 | ||||||
Veeva Systems Inc., Class A(a) |
36,304 | 10,461,724 | ||||||
Vocera Communications Inc.(a) |
7,864 | 359,857 | ||||||
|
|
|||||||
33,189,930 | ||||||||
Hotels, Restaurants & Leisure — 2.1% | ||||||||
Accel Entertainment Inc.(a) |
11,443 | 138,918 | ||||||
Aramark |
62,128 | 2,041,526 | ||||||
Bally’s Corp.(a) |
8,490 | 425,689 | ||||||
BJ’s Restaurants Inc.(a) |
6,056 | 252,899 | ||||||
Bloomin’ Brands Inc.(a) |
23,277 | 581,925 | ||||||
Bluegreen Vacations Holding Corp.(a) |
6,403 | 165,197 | ||||||
Booking Holdings Inc.(a) |
10,807 | 25,654,413 | ||||||
Boyd Gaming Corp.(a) |
21,277 | 1,345,983 | ||||||
Brinker International Inc.(a) |
12,117 | 594,339 | ||||||
Caesars Entertainment Inc.(a)(b) |
54,027 | 6,066,152 | ||||||
Carnival Corp.(a) |
224,801 | 5,622,273 | ||||||
Cheesecake Factory Inc. (The)(a) |
11,698 | 549,806 | ||||||
Chipotle Mexican Grill Inc.(a) |
7,406 | 13,460,553 | ||||||
Choice Hotels International Inc. |
9,606 | 1,213,910 | ||||||
Churchill Downs Inc. |
9,707 | 2,330,457 | ||||||
Chuy’s Holdings Inc.(a) |
4,002 | 126,183 | ||||||
Cracker Barrel Old Country Store Inc. |
6,535 | 913,854 | ||||||
Darden Restaurants Inc. |
34,709 | 5,257,372 | ||||||
Dave & Buster’s Entertainment Inc.(a) |
12,820 | 491,391 | ||||||
Del Taco Restaurants Inc. |
12,862 | 112,285 | ||||||
Denny’s Corp.(a)(b) |
17,633 | 288,123 | ||||||
Dine Brands Global Inc.(a) |
4,579 | 371,861 | ||||||
Domino’s Pizza Inc. |
9,727 | 4,639,390 | ||||||
DraftKings Inc., Class A(a)(b) |
80,213 | 3,863,058 |
S C H E D U L E O F I N V E S T M E N T S |
49 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
El Pollo Loco Holdings Inc.(a) |
7,415 | $ | 125,314 | |||||
Everi Holdings Inc.(a)(b) |
24,247 | 586,292 | ||||||
Expedia Group Inc.(a) |
38,422 | 6,297,366 | ||||||
GAN Ltd.(a)(b) |
11,365 | 168,998 | ||||||
Golden Entertainment Inc.(a) |
5,261 | 258,263 | ||||||
Golden Nugget Online Gaming Inc.(a) |
9,857 | 171,216 | ||||||
Hilton Grand Vacations Inc.(a)(b) |
23,446 | 1,115,326 | ||||||
Hilton Worldwide Holdings Inc.(a) |
72,239 | 9,543,494 | ||||||
Hyatt Hotels Corp., Class A(a) |
12,499 | 963,673 | ||||||
International Game Technology PLC(a) |
25,291 | 665,659 | ||||||
Jack in the Box Inc. |
5,471 | 532,492 | ||||||
Las Vegas Sands Corp.(a) |
87,549 | 3,204,293 | ||||||
Lindblad Expeditions Holdings Inc.(a)(b) |
10,544 | 153,837 | ||||||
Marriott International Inc./MD, Class A(a) |
72,092 | 10,676,104 | ||||||
Marriott Vacations Worldwide Corp. |
10,915 | 1,717,257 | ||||||
McDonald’s Corp. |
197,456 | 47,608,616 | ||||||
MGM Resorts International |
107,692 | 4,646,910 | ||||||
Monarch Casino & Resort Inc.(a) |
3,661 | 245,250 | ||||||
NEOGAMES SA(a) |
2,266 | 83,208 | ||||||
Noodles & Co.(a) |
12,136 | 143,205 | ||||||
Norwegian Cruise Line Holdings Ltd.(a)(b) |
98,361 | 2,627,222 | ||||||
Papa John’s International Inc. |
8,789 | 1,116,115 | ||||||
Penn National Gaming Inc.(a) |
42,316 | 3,066,217 | ||||||
Planet Fitness Inc., Class A(a) |
22,707 | 1,783,635 | ||||||
RCI Hospitality Holdings Inc. |
2,958 | 202,653 | ||||||
Red Robin Gourmet Burgers Inc.(a) |
5,180 | 119,451 | ||||||
Red Rock Resorts Inc., Class A(a) |
17,841 | 913,816 | ||||||
Royal Caribbean Cruises Ltd.(a) |
58,031 | 5,161,857 | ||||||
Rush Street Interactive Inc.(a) |
14,429 | 277,181 | ||||||
Ruth’s Hospitality Group Inc.(a) |
8,529 | 176,636 | ||||||
Scientific Games Corp./DE, Class A(a) |
25,315 | 2,102,917 | ||||||
SeaWorld Entertainment Inc.(a) |
14,156 | 783,110 | ||||||
Shake Shack Inc., Class A(a) |
9,523 | 747,175 | ||||||
Six Flags Entertainment Corp.(a) |
21,559 | 916,258 | ||||||
Starbucks Corp. |
311,491 | 34,360,572 | ||||||
Texas Roadhouse Inc. |
18,538 | 1,693,076 | ||||||
Travel + Leisure Co. |
22,119 | 1,206,149 | ||||||
Vail Resorts Inc.(a) |
10,709 | 3,577,341 | ||||||
Wendy’s Co. (The) |
48,256 | 1,046,190 | ||||||
Wingstop Inc. |
7,717 | 1,265,048 | ||||||
Wyndham Hotels & Resorts Inc. |
24,664 | 1,903,814 | ||||||
Wynn Resorts Ltd.(a) |
28,188 | 2,388,933 | ||||||
Yum China Holdings Inc. |
111,076 | 6,454,626 | ||||||
Yum! Brands Inc. |
78,410 | 9,590,327 | ||||||
|
|
|||||||
248,894,649 | ||||||||
Household Durables — 0.5% | ||||||||
Beazer Homes USA Inc.(a) |
9,897 | 170,723 | ||||||
Cavco Industries Inc.(a) |
2,397 | 567,466 | ||||||
Century Communities Inc. |
7,209 | 442,993 | ||||||
DR Horton Inc. |
88,334 | 7,417,406 | ||||||
Ethan Allen Interiors Inc. |
6,067 | 143,788 | ||||||
Garmin Ltd. |
39,596 | 6,155,594 | ||||||
GoPro Inc., Class A(a)(b) |
31,893 | 298,518 | ||||||
Green Brick Partners Inc.(a) |
8,322 | 170,767 | ||||||
Helen of Troy Ltd.(a)(b) |
6,436 | 1,446,040 | ||||||
Hooker Furniture Corp. |
4,063 | 109,660 | ||||||
Hovnanian Enterprises Inc., Class A(a) |
1,358 | 130,898 | ||||||
Installed Building Products Inc. |
6,058 | 649,115 | ||||||
iRobot Corp.(a) |
7,312 | 573,992 | ||||||
KB Home |
23,414 | 911,273 |
Security | Shares | Value | ||||||
Household Durables (continued) | ||||||||
La-Z-Boy Inc. |
12,852 | $ | 414,220 | |||||
Leggett & Platt Inc. |
36,518 | 1,637,467 | ||||||
Lennar Corp., Class A |
71,816 | 6,727,723 | ||||||
Lennar Corp., Class B |
3,723 | 288,868 | ||||||
LGI Homes Inc.(a) |
5,993 | 850,467 | ||||||
Lovesac Co. (The)(a)(b) |
2,791 | 184,457 | ||||||
M/I Homes Inc.(a) |
7,335 | 423,963 | ||||||
MDC Holdings Inc. |
14,974 | 699,585 | ||||||
Meritage Homes Corp.(a) |
10,382 | 1,007,054 | ||||||
Mohawk Industries Inc.(a) |
14,886 | 2,640,776 | ||||||
Newell Brands Inc. |
102,799 | 2,275,970 | ||||||
NVR Inc.(a) |
857 | 4,108,527 | ||||||
PulteGroup Inc. |
67,744 | 3,110,805 | ||||||
Purple Innovation Inc., Class A(a) |
13,217 | 277,821 | ||||||
Skyline Champion Corp.(a) |
13,498 | 810,690 | ||||||
Sonos Inc.(a) |
32,469 | 1,050,697 | ||||||
Taylor Morrison Home Corp.(a) |
32,354 | 834,086 | ||||||
Tempur Sealy International Inc. |
47,766 | 2,216,820 | ||||||
Toll Brothers Inc. |
29,663 | 1,640,067 | ||||||
TopBuild Corp.(a) |
8,789 | 1,800,075 | ||||||
Traeger Inc.(a) |
5,938 | 124,282 | ||||||
TRI Pointe Homes Inc.(a) |
30,182 | 634,426 | ||||||
Tupperware Brands Corp.(a) |
13,507 | 285,268 | ||||||
Universal Electronics Inc.(a) |
3,654 | 179,960 | ||||||
Vuzix Corp.(a) |
16,112 | 168,532 | ||||||
Whirlpool Corp. |
15,899 | 3,241,170 | ||||||
|
|
|||||||
56,822,009 | ||||||||
Household Products — 1.1% | ||||||||
Central Garden & Pet Co.(a) |
2,601 | 124,848 | ||||||
Central Garden & Pet Co., Class A, NVS(a) |
11,665 | 501,595 | ||||||
Church & Dwight Co. Inc. |
64,867 | 5,356,068 | ||||||
Clorox Co. (The) |
32,569 | 5,393,752 | ||||||
Colgate-Palmolive Co. |
220,949 | 16,699,325 | ||||||
Energizer Holdings Inc. |
19,424 | 758,507 | ||||||
Kimberly-Clark Corp. |
88,800 | 11,760,672 | ||||||
Procter & Gamble Co. (The) |
643,742 | 89,995,132 | ||||||
Reynolds Consumer Products Inc. |
12,993 | 355,229 | ||||||
Spectrum Brands Holdings Inc. |
11,543 | 1,104,319 | ||||||
WD-40 Co. |
3,607 | 834,948 | ||||||
|
|
|||||||
132,884,395 | ||||||||
Independent Power and Renewable Electricity Producers — 0.1% | ||||||||
AES Corp. (The) |
176,092 | 4,020,180 | ||||||
Brookfield Renewable Corp., Class A |
34,734 | 1,348,026 | ||||||
Clearway Energy Inc., Class A |
8,360 | 235,752 | ||||||
Clearway Energy Inc., Class C |
23,266 | 704,262 | ||||||
Ormat Technologies Inc. |
11,099 | 739,304 | ||||||
Sunnova Energy International Inc.(a) |
22,505 | 741,315 | ||||||
Vistra Corp. |
125,926 | 2,153,335 | ||||||
|
|
|||||||
9,942,174 | ||||||||
Industrial Conglomerates — 0.9% | ||||||||
3M Co. |
152,921 | 26,825,402 | ||||||
General Electric Co. |
288,716 | 29,746,409 | ||||||
Honeywell International Inc. |
183,715 | 38,999,020 | ||||||
Raven Industries Inc.(a) |
9,029 | 520,161 | ||||||
Roper Technologies Inc. |
27,645 | 12,333,264 | ||||||
|
|
|||||||
108,424,256 | ||||||||
Insurance — 2.0% | ||||||||
Aflac Inc. |
175,075 | 9,126,660 | ||||||
Alleghany Corp.(a) |
3,462 | 2,161,707 |
50 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Insurance (continued) | ||||||||
Allstate Corp. (The) |
77,930 | $ | 9,921,268 | |||||
Ambac Financial Group Inc.(a) |
13,096 | 187,535 | ||||||
American Equity Investment Life Holding Co. |
23,553 | 696,462 | ||||||
American Financial Group Inc./OH |
18,573 | 2,337,041 | ||||||
American International Group Inc. |
227,120 | 12,466,617 | ||||||
American National Group Inc. |
1,790 | 338,364 | ||||||
AMERISAFE Inc. |
4,931 | 276,925 | ||||||
Aon PLC, Class A |
59,012 | 16,863,859 | ||||||
Arch Capital Group Ltd.(a) |
101,032 | 3,857,402 | ||||||
Argo Group International Holdings Ltd. |
8,309 | 433,896 | ||||||
Arthur J Gallagher & Co. |
54,303 | 8,072,141 | ||||||
Assurant Inc. |
15,468 | 2,440,077 | ||||||
Assured Guaranty Ltd. |
18,276 | 855,500 | ||||||
Athene Holding Ltd., Class A(a) |
31,439 | 2,165,204 | ||||||
Axis Capital Holdings Ltd. |
19,229 | 885,303 | ||||||
Bright Health Group Inc.(a) |
13,966 | 113,963 | ||||||
Brighthouse Financial Inc.(a) |
23,802 | 1,076,564 | ||||||
Brown & Brown Inc. |
62,616 | 3,472,057 | ||||||
BRP Group Inc., Class A(a)(b) |
11,493 | 382,602 | ||||||
Chubb Ltd. |
115,149 | 19,976,048 | ||||||
Cincinnati Financial Corp. |
40,259 | 4,598,383 | ||||||
CNA Financial Corp. |
8,100 | 339,876 | ||||||
CNO Financial Group Inc. |
32,396 | 762,602 | ||||||
eHealth Inc.(a) |
6,272 | 254,016 | ||||||
Employers Holdings Inc. |
7,711 | 304,507 | ||||||
Enstar Group Ltd.(a) |
3,163 | 742,451 | ||||||
Erie Indemnity Co., Class A, NVS |
6,971 | 1,243,766 | ||||||
Everest Re Group Ltd. |
10,584 | 2,654,255 | ||||||
Fidelity National Financial Inc. |
72,259 | 3,276,223 | ||||||
First American Financial Corp. |
29,261 | 1,961,950 | ||||||
Genworth Financial Inc., Class A(a) |
136,479 | 511,796 | ||||||
Globe Life Inc. |
26,527 | 2,361,699 | ||||||
GoHealth Inc., Class A(a) |
15,456 | 77,744 | ||||||
Goosehead Insurance Inc., Class A |
4,662 | 709,976 | ||||||
Hanover Insurance Group Inc. (The) |
9,478 | 1,228,538 | ||||||
Hartford Financial Services Group Inc. (The) |
91,879 | 6,454,500 | ||||||
HCI Group Inc. |
2,029 | 224,752 | ||||||
Horace Mann Educators Corp. |
10,907 | 433,989 | ||||||
James River Group Holdings Ltd. |
8,472 | 319,649 | ||||||
Kemper Corp. |
16,471 | 1,100,098 | ||||||
Kinsale Capital Group Inc. |
5,819 | 940,932 | ||||||
Lemonade Inc.(a)(b) |
10,165 | 681,157 | ||||||
Lincoln National Corp. |
49,550 | 3,406,562 | ||||||
Loews Corp. |
56,934 | 3,070,451 | ||||||
Markel Corp.(a) |
3,551 | 4,243,907 | ||||||
Marsh & McLennan Companies Inc. |
134,294 | 20,336,140 | ||||||
MBIA Inc.(a) |
15,098 | 194,009 | ||||||
Mercury General Corp. |
7,077 | 393,977 | ||||||
MetLife Inc. |
192,300 | 11,870,679 | ||||||
National Western Life Group Inc., Class A |
569 | 119,826 | ||||||
Old Republic International Corp. |
75,545 | 1,747,356 | ||||||
Palomar Holdings Inc.(a) |
5,698 | 460,569 | ||||||
Primerica Inc. |
10,691 | 1,642,458 | ||||||
Principal Financial Group Inc. |
70,416 | 4,534,790 | ||||||
ProAssurance Corp. |
13,261 | 315,347 | ||||||
Progressive Corp. (The) |
154,062 | 13,925,664 | ||||||
Prudential Financial Inc. |
102,398 | 10,772,270 | ||||||
Reinsurance Group of America Inc. |
17,636 | 1,962,181 | ||||||
RenaissanceRe Holdings Ltd. |
12,858 | 1,792,405 | ||||||
RLI Corp. |
10,660 | 1,068,878 |
Security | Shares | Value | ||||||
Insurance (continued) | ||||||||
Safety Insurance Group Inc. |
4,021 | $ | 318,664 | |||||
Selective Insurance Group Inc. |
15,544 | 1,174,038 | ||||||
Selectquote Inc.(a)(b) |
35,246 | 455,731 | ||||||
SiriusPoint Ltd.(a) |
19,622 | 181,700 | ||||||
State Auto Financial Corp. |
4,644 | 236,612 | ||||||
Stewart Information Services Corp. |
6,984 | 441,808 | ||||||
Travelers Companies Inc. (The) |
66,456 | 10,101,977 | ||||||
Trupanion Inc.(a) |
9,687 | 752,389 | ||||||
United Fire Group Inc. |
5,988 | 138,323 | ||||||
Universal Insurance Holdings Inc. |
8,749 | 114,087 | ||||||
Unum Group |
56,016 | 1,403,761 | ||||||
W R Berkley Corp. |
36,252 | 2,652,921 | ||||||
White Mountains Insurance Group Ltd. |
793 | 848,201 | ||||||
Willis Towers Watson PLC |
33,873 | 7,874,118 | ||||||
|
|
|||||||
237,841,853 | ||||||||
Interactive Media & Services — 5.8% | ||||||||
Alphabet Inc., Class A(a) |
79,528 | 212,619,699 | ||||||
Alphabet Inc., Class C, NVS(a) |
74,195 | 197,752,675 | ||||||
Cargurus Inc.(a) |
23,382 | 734,429 | ||||||
Cars.com Inc.(a) |
18,883 | 238,870 | ||||||
Eventbrite Inc., Class A(a) |
18,750 | 354,563 | ||||||
EverQuote Inc., Class A(a) |
5,905 | 110,010 | ||||||
Facebook Inc., Class A(a) |
632,788 | 214,761,919 | ||||||
fuboTV Inc.(a)(b) |
35,374 | 847,561 | ||||||
IAC/InterActiveCorp.(a) |
20,522 | 2,673,811 | ||||||
Match Group Inc.(a)(b) |
73,226 | 11,495,750 | ||||||
MediaAlpha Inc., Class A(a) |
6,649 | 124,203 | ||||||
Pinterest Inc., Class A(a) |
146,942 | 7,486,695 | ||||||
QuinStreet Inc.(a) |
12,468 | 218,938 | ||||||
TripAdvisor Inc.(a) |
27,816 | 941,572 | ||||||
TrueCar Inc.(a)(b) |
30,134 | 125,357 | ||||||
Twitter Inc.(a) |
206,184 | 12,451,452 | ||||||
Vimeo Inc.(a) |
38,084 | 1,118,527 | ||||||
Yelp Inc.(a) |
18,883 | 703,203 | ||||||
Zillow Group Inc., Class A(a) |
15,978 | 1,415,331 | ||||||
Zillow Group Inc., Class C, NVS(a)(b) |
44,857 | 3,953,696 | ||||||
|
|
|||||||
670,128,261 | ||||||||
Internet & Direct Marketing Retail — 3.6% | ||||||||
1-800-Flowers.com Inc., Class A(a)(b) |
6,329 | 193,098 | ||||||
Amazon.com Inc.(a) |
114,761 | 376,994,476 | ||||||
CarParts.com Inc.(a)(b) |
12,783 | 199,543 | ||||||
DoorDash Inc., Class A(a) |
38,196 | 7,867,612 | ||||||
eBay Inc. |
172,304 | 12,004,420 | ||||||
Etsy Inc.(a) |
33,514 | 6,969,571 | ||||||
Groupon Inc.(a)(b) |
6,068 | 138,411 | ||||||
Lands’ End Inc.(a) |
4,583 | 107,884 | ||||||
Liquidity Services Inc.(a) |
5,810 | 125,554 | ||||||
Overstock.com Inc.(a) |
11,623 | 905,664 | ||||||
PetMed Express Inc. |
4,915 | 132,066 | ||||||
Porch Group Inc.(a) |
20,291 | 358,745 | ||||||
Quotient Technology Inc.(a) |
20,455 | 119,048 | ||||||
Qurate Retail Inc., Series A |
98,326 | 1,001,942 | ||||||
RealReal Inc. (The)(a) |
18,533 | 244,265 | ||||||
Revolve Group Inc.(a) |
9,352 | 577,673 | ||||||
Shutterstock Inc. |
6,071 | 687,966 | ||||||
Stamps.com Inc.(a) |
4,617 | 1,522,640 | ||||||
Stitch Fix Inc., Class A(a)(b) |
16,532 | 660,453 | ||||||
Wayfair Inc., Class A(a)(b) |
19,910 | 5,087,204 |
S C H E D U L E O F I N V E S T M E N T S |
51 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Internet & Direct Marketing Retail (continued) | ||||||||
Xometry Inc., Class A(a)(b) |
2,123 | $ | 122,433 | |||||
|
|
|||||||
416,020,668 | ||||||||
IT Services — 5.2% | ||||||||
Accenture PLC, Class A |
168,140 | 53,791,349 | ||||||
Akamai Technologies Inc.(a)(b) |
42,333 | 4,427,608 | ||||||
Alliance Data Systems Corp. |
12,870 | 1,298,454 | ||||||
Amdocs Ltd. |
33,788 | 2,558,089 | ||||||
Automatic Data Processing Inc. |
112,714 | 22,533,783 | ||||||
BigCommerce Holdings Inc., Series 1(a)(b) |
11,804 | 597,755 | ||||||
Brightcove Inc.(a) |
12,490 | 144,135 | ||||||
Broadridge Financial Solutions Inc. |
30,907 | 5,150,342 | ||||||
Cantaloupe Inc.(a) |
17,178 | 185,179 | ||||||
Cass Information Systems Inc. |
3,427 | 143,420 | ||||||
Cloudflare Inc., Class A(a) |
68,457 | 7,711,681 | ||||||
Cognizant Technology Solutions Corp., Class A |
138,994 | 10,314,745 | ||||||
Concentrix Corp.(a) |
11,015 | 1,949,655 | ||||||
Conduent Inc.(a) |
38,191 | 251,679 | ||||||
CSG Systems International Inc. |
8,400 | 404,880 | ||||||
DigitalOcean Holdings Inc.(a)(b) |
13,036 | 1,011,985 | ||||||
DXC Technology Co.(a) |
66,296 | 2,228,208 | ||||||
EPAM Systems Inc.(a) |
14,288 | 8,151,018 | ||||||
Euronet Worldwide Inc.(a) |
13,423 | 1,708,479 | ||||||
EVERTEC Inc. |
16,189 | 740,161 | ||||||
Evo Payments Inc., Class A(a) |
13,871 | 328,465 | ||||||
ExlService Holdings Inc.(a) |
7,839 | 965,138 | ||||||
Fastly Inc., Class A(a)(b) |
28,081 | 1,135,596 | ||||||
Fidelity National Information Services Inc. |
163,719 | 19,921,328 | ||||||
Fiserv Inc.(a) |
158,026 | 17,145,821 | ||||||
FleetCor Technologies Inc.(a) |
21,514 | 5,620,963 | ||||||
Flywire Corp.(a)(b) |
3,190 | 139,850 | ||||||
Gartner Inc.(a) |
21,557 | 6,550,741 | ||||||
Genpact Ltd. |
49,554 | 2,354,310 | ||||||
Global Payments Inc. |
77,521 | 12,215,759 | ||||||
Globant SA(a) |
10,521 | 2,956,506 | ||||||
GoDaddy Inc., Class A(a) |
45,037 | 3,139,079 | ||||||
GreenSky Inc., Class A(a) |
21,649 | 242,036 | ||||||
Grid Dynamics Holdings Inc.(a) |
7,353 | 214,855 | ||||||
Hackett Group Inc. (The) |
7,942 | 155,822 | ||||||
I3 Verticals Inc., Class A(a) |
6,175 | 149,497 | ||||||
International Business Machines Corp. |
236,269 | 32,824,852 | ||||||
International Money Express Inc.(a) |
9,606 | 160,420 | ||||||
Jack Henry & Associates Inc. |
19,306 | 3,167,342 | ||||||
Limelight Networks Inc.(a) |
36,744 | 87,451 | ||||||
LiveRamp Holdings Inc.(a) |
16,769 | 792,000 | ||||||
Mastercard Inc., Class A |
231,348 | 80,435,073 | ||||||
Maximus Inc. |
16,532 | 1,375,462 | ||||||
MoneyGram International Inc.(a) |
20,343 | 163,151 | ||||||
MongoDB Inc.(a)(b) |
16,419 | 7,741,723 | ||||||
Okta Inc.(a) |
32,990 | 7,829,847 | ||||||
Paya Holdings Inc., Class A(a)(b) |
23,082 | 250,901 | ||||||
Paychex Inc. |
85,434 | 9,607,053 | ||||||
PayPal Holdings Inc.(a) |
310,681 | 80,842,303 | ||||||
Paysafe Ltd.(a)(b) |
110,277 | 854,647 | ||||||
Perficient Inc.(a) |
8,539 | 987,962 | ||||||
Rackspace Technology Inc.(a)(b) |
15,963 | 226,994 | ||||||
Repay Holdings Corp.(a)(b) |
21,002 | 483,676 | ||||||
Sabre Corp.(a) |
86,120 | 1,019,661 | ||||||
Shift4 Payments Inc., Class A(a)(b) |
11,574 | 897,216 | ||||||
Snowflake Inc., Class A(a) |
51,491 | 15,572,423 | ||||||
SolarWinds Corp. |
8,957 | 149,851 |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
Square Inc., Class A(a)(b) |
104,545 | $ | 25,074,073 | |||||
StoneCo Ltd., Class A(a) |
58,557 | 2,033,099 | ||||||
Switch Inc., Class A |
30,853 | 783,358 | ||||||
TTEC Holdings Inc. |
4,691 | 438,749 | ||||||
Tucows Inc., Class A(a)(b) |
2,314 | 182,690 | ||||||
Twilio Inc., Class A(a) |
44,133 | 14,080,634 | ||||||
Unisys Corp.(a)(b) |
18,180 | 457,045 | ||||||
VeriSign Inc.(a) |
26,133 | 5,357,526 | ||||||
Verra Mobility Corp.(a)(b) |
37,443 | 564,266 | ||||||
Visa Inc., Class A |
447,552 | 99,692,208 | ||||||
Western Union Co. (The) |
111,562 | 2,255,784 | ||||||
WEX Inc.(a) |
11,757 | 2,070,878 | ||||||
Wix.com Ltd.(a)(b) |
14,095 | 2,762,197 | ||||||
|
|
|||||||
599,760,886 | ||||||||
Leisure Products — 0.2% | ||||||||
Acushnet Holdings Corp. |
9,500 | 443,650 | ||||||
American Outdoor Brands Inc.(a) |
4,860 | 119,362 | ||||||
AMMO Inc.(a)(b) |
22,100 | 135,915 | ||||||
Brunswick Corp./DE |
20,306 | 1,934,553 | ||||||
Callaway Golf Co.(a) |
30,646 | 846,749 | ||||||
Clarus Corp. |
6,554 | 167,979 | ||||||
Genius Brands International Inc.(a)(b) |
82,745 | 112,533 | ||||||
Hasbro Inc. |
33,450 | 2,984,409 | ||||||
Hayward Holdings Inc.(a)(b) |
10,928 | 243,039 | ||||||
Johnson Outdoors Inc., Class A |
1,458 | 154,256 | ||||||
Latham Group Inc.(a) |
8,871 | 145,484 | ||||||
Malibu Boats Inc., Class A(a)(b) |
5,132 | 359,137 | ||||||
MasterCraft Boat Holdings Inc.(a) |
5,268 | 132,121 | ||||||
Mattel Inc.(a) |
91,442 | 1,697,164 | ||||||
Nautilus Inc.(a)(b) |
8,685 | 80,857 | ||||||
Peloton Interactive Inc., Class A(a)(b) |
69,906 | 6,085,317 | ||||||
Polaris Inc. |
15,631 | 1,870,406 | ||||||
Smith & Wesson Brands Inc. |
15,113 | 313,746 | ||||||
Sturm Ruger & Co. Inc. |
4,164 | 307,220 | ||||||
Vista Outdoor Inc.(a) |
15,932 | 642,219 | ||||||
YETI Holdings Inc.(a) |
21,693 | 1,858,873 | ||||||
|
|
|||||||
20,634,989 | ||||||||
Life Sciences Tools & Services — 1.4% | ||||||||
10X Genomics Inc., Class A(a)(b) |
22,252 | 3,239,446 | ||||||
Adaptive Biotechnologies Corp.(a) |
29,616 | 1,006,648 | ||||||
Agilent Technologies Inc. |
80,376 | 12,661,631 | ||||||
Avantor Inc.(a)(b) |
153,407 | 6,274,346 | ||||||
Berkeley Lights Inc.(a)(b) |
12,513 | 244,754 | ||||||
BioNano Genomics Inc.(a)(b) |
73,765 | 405,708 | ||||||
Bio-Rad Laboratories Inc., Class A(a) |
5,583 | 4,164,639 | ||||||
Bio-Techne Corp. |
10,256 | 4,969,750 | ||||||
Bruker Corp. |
26,819 | 2,094,564 | ||||||
Charles River Laboratories International Inc.(a) |
13,129 | 5,417,944 | ||||||
ChromaDex Corp.(a)(b) |
14,654 | 91,881 | ||||||
Codexis Inc.(a) |
13,421 | 312,172 | ||||||
Contra Aduro Biotech I(a)(c) |
4,039 | 12,117 | ||||||
Fluidigm Corp.(a) |
22,144 | 145,929 | ||||||
Harvard Bioscience Inc.(a) |
16,433 | 114,702 | ||||||
Illumina Inc.(a) |
38,616 | 15,663,036 | ||||||
Inotiv Inc.(a) |
5,045 | 147,516 | ||||||
IQVIA Holdings Inc.(a) |
50,658 | 12,134,617 | ||||||
Maravai LifeSciences Holdings Inc., Class A(a) |
26,907 | 1,320,596 | ||||||
Medpace Holdings Inc.(a) |
7,439 | 1,408,054 | ||||||
Mettler-Toledo International Inc.(a) |
6,044 | 8,324,764 |
52 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Life Sciences Tools & Services (continued) | ||||||||
NanoString Technologies Inc.(a) |
11,947 | $ | 573,575 | |||||
NeoGenomics Inc.(a)(b) |
28,354 | 1,367,797 | ||||||
Pacific Biosciences of California Inc.(a)(b) |
52,302 | 1,336,316 | ||||||
PerkinElmer Inc. |
29,802 | 5,164,389 | ||||||
Personalis Inc.(a) |
10,532 | 202,636 | ||||||
PPD Inc.(a) |
43,563 | 2,038,313 | ||||||
QIAGEN NV(a) |
61,425 | 3,174,444 | ||||||
Quanterix Corp.(a) |
6,919 | 344,497 | ||||||
Repligen Corp.(a) |
14,729 | 4,256,534 | ||||||
Seer Inc.(a)(b) |
10,949 | 378,069 | ||||||
Sotera Health Co.(a) |
26,323 | 688,346 | ||||||
Syneos Health Inc.(a) |
27,270 | 2,385,580 | ||||||
Thermo Fisher Scientific Inc. |
103,876 | 59,347,475 | ||||||
Waters Corp.(a) |
16,324 | 5,832,565 | ||||||
|
|
|||||||
167,245,350 | ||||||||
Machinery — 1.8% | ||||||||
AGCO Corp. |
16,450 | 2,015,618 | ||||||
AgEagle Aerial Systems Inc.(a)(b) |
27,917 | 84,030 | ||||||
Alamo Group Inc. |
2,409 | 336,128 | ||||||
Albany International Corp., Class A |
8,026 | 616,959 | ||||||
Allison Transmission Holdings Inc. |
27,283 | 963,636 | ||||||
Altra Industrial Motion Corp. |
18,122 | 1,003,053 | ||||||
Astec Industries Inc. |
6,015 | 323,667 | ||||||
Barnes Group Inc. |
12,468 | 520,290 | ||||||
Blue Bird Corp.(a) |
5,499 | 114,709 | ||||||
Caterpillar Inc. |
144,875 | 27,811,654 | ||||||
Chart Industries Inc.(a) |
9,693 | 1,852,429 | ||||||
CIRCOR International Inc.(a) |
4,399 | 145,211 | ||||||
Colfax Corp.(a) |
32,690 | 1,500,471 | ||||||
Columbus McKinnon Corp./NY |
6,651 | 321,576 | ||||||
Crane Co. |
12,735 | 1,207,405 | ||||||
Cummins Inc. |
37,853 | 8,500,270 | ||||||
Deere & Co. |
74,534 | 24,974,107 | ||||||
Desktop Metal Inc., Class A(a)(b) |
39,676 | 284,477 | ||||||
Donaldson Co. Inc. |
32,844 | 1,885,574 | ||||||
Douglas Dynamics Inc. |
5,502 | 199,723 | ||||||
Dover Corp. |
37,562 | 5,840,891 | ||||||
Energy Recovery Inc.(a)(b) |
8,857 | 168,549 | ||||||
Enerpac Tool Group Corp. |
15,945 | 330,540 | ||||||
EnPro Industries Inc. |
5,171 | 450,498 | ||||||
ESCO Technologies Inc. |
6,659 | 512,743 | ||||||
Evoqua Water Technologies Corp.(a)(b) |
29,751 | 1,117,448 | ||||||
ExOne Co. (The)(a) |
6,027 | 140,911 | ||||||
Federal Signal Corp. |
17,320 | 668,898 | ||||||
Flowserve Corp. |
35,748 | 1,239,383 | ||||||
Fortive Corp. |
85,441 | 6,029,571 | ||||||
Franklin Electric Co. Inc. |
11,849 | 946,143 | ||||||
Gates Industrial Corp. PLC(a) |
25,201 | 410,020 | ||||||
Gorman-Rupp Co. (The) |
4,773 | 170,921 | ||||||
Graco Inc. |
44,532 | 3,115,904 | ||||||
Greenbrier Companies Inc. (The) |
8,419 | 361,933 | ||||||
Helios Technologies Inc. |
8,191 | 672,563 | ||||||
Hillenbrand Inc. |
20,595 | 878,377 | ||||||
Hydrofarm Holdings Group Inc.(a)(b) |
10,244 | 387,735 | ||||||
Hyliion Holdings Corp.(a)(b) |
30,994 | 260,350 | ||||||
Hyster-Yale Materials Handling Inc. |
2,482 | 124,745 | ||||||
Ideanomics Inc.(a)(b) |
111,797 | 220,240 | ||||||
IDEX Corp. |
20,233 | 4,187,219 | ||||||
Illinois Tool Works Inc. |
83,241 | 17,200,088 | ||||||
Ingersoll Rand Inc.(a) |
107,446 | 5,416,353 |
Security | Shares | Value | ||||||
Machinery (continued) | ||||||||
ITT Inc. |
23,496 | $ | 2,016,897 | |||||
John Bean Technologies Corp. |
8,673 | 1,218,990 | ||||||
Kadant Inc. |
2,844 | 580,460 | ||||||
Kennametal Inc. |
22,276 | 762,507 | ||||||
Lincoln Electric Holdings Inc. |
15,008 | 1,932,880 | ||||||
Lindsay Corp. |
3,120 | 473,585 | ||||||
Luxfer Holdings PLC |
7,312 | 143,535 | ||||||
Lydall Inc.(a) |
4,232 | 262,765 | ||||||
Manitowoc Co. Inc. (The)(a) |
9,276 | 198,692 | ||||||
Meritor Inc.(a) |
17,434 | 371,519 | ||||||
Middleby Corp. (The)(a) |
14,483 | 2,469,496 | ||||||
Miller Industries Inc./TN |
3,973 | 135,241 | ||||||
Mueller Industries Inc. |
15,549 | 639,064 | ||||||
Mueller Water Products Inc., Class A |
45,789 | 696,909 | ||||||
Nikola Corp.(a)(b) |
52,544 | 560,644 | ||||||
Nordson Corp. |
15,543 | 3,701,565 | ||||||
Omega Flex Inc. |
855 | 122,000 | ||||||
Oshkosh Corp. |
17,992 | 1,841,841 | ||||||
Otis Worldwide Corp. |
112,956 | 9,294,020 | ||||||
PACCAR Inc. |
89,422 | 7,057,184 | ||||||
Parker-Hannifin Corp. |
33,976 | 9,500,369 | ||||||
Pentair PLC |
44,377 | 3,223,101 | ||||||
Proto Labs Inc.(a) |
7,174 | 477,788 | ||||||
RBC Bearings Inc.(a) |
7,335 | 1,556,487 | ||||||
REV Group Inc. |
9,446 | 162,093 | ||||||
Rexnord Corp. |
33,046 | 2,124,527 | ||||||
Shyft Group Inc. (The) |
8,957 | 340,456 | ||||||
Snap-on Inc. |
14,536 | 3,037,297 | ||||||
SPX Corp.(a) |
12,348 | 660,001 | ||||||
SPX FLOW Inc. |
11,613 | 848,910 | ||||||
Standex International Corp. |
3,115 | 308,105 | ||||||
Stanley Black & Decker Inc. |
42,393 | 7,431,917 | ||||||
Tennant Co. |
4,651 | 343,941 | ||||||
Terex Corp. |
18,067 | 760,621 | ||||||
Timken Co. (The) |
16,773 | 1,097,290 | ||||||
Titan International Inc.(a) |
16,774 | 120,102 | ||||||
Toro Co. (The) |
28,111 | 2,738,292 | ||||||
Trinity Industries Inc. |
20,270 | 550,736 | ||||||
Wabash National Corp. |
16,939 | 256,287 | ||||||
Watts Water Technologies Inc., Class A |
7,058 | 1,186,379 | ||||||
Welbilt Inc.(a) |
37,476 | 870,942 | ||||||
Westinghouse Air Brake Technologies Corp. |
48,812 | 4,208,083 | ||||||
Woodward Inc. |
15,628 | 1,769,090 | ||||||
Xylem Inc./NY |
47,196 | 5,837,201 | ||||||
|
|
|||||||
209,402,819 | ||||||||
Marine — 0.0% | ||||||||
Costamare Inc. |
18,113 | 280,570 | ||||||
Eagle Bulk Shipping Inc.(a) |
2,763 | 139,311 | ||||||
Genco Shipping & Trading Ltd. |
9,102 | 183,223 | ||||||
Kirby Corp.(a) |
15,748 | 755,274 | ||||||
Matson Inc. |
12,076 | 974,654 | ||||||
|
|
|||||||
2,333,032 | ||||||||
Media — 1.3% | ||||||||
Advantage Solutions Inc.(a)(b) |
20,828 | 180,162 | ||||||
Altice USA Inc., Class A(a) |
59,164 | 1,225,878 | ||||||
AMC Networks Inc., Class A(a) |
7,673 | 357,485 | ||||||
Boston Omaha Corp., Class A(a) |
4,971 | 192,775 | ||||||
Cable One Inc. |
1,432 | 2,596,402 | ||||||
Cardlytics Inc.(a)(b) |
7,943 | 666,735 |
S C H E D U L E O F I N V E S T M E N T S |
53 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Media (continued) | ||||||||
Charter Communications Inc., Class A(a) |
33,818 | $ | 24,604,624 | |||||
Clear Channel Outdoor Holdings Inc.(a) |
99,222 | 268,892 | ||||||
Comcast Corp., Class A |
1,205,820 | 67,441,513 | ||||||
Daily Journal Corp.(a) |
382 | 122,381 | ||||||
Discovery Inc., Class A(a)(b) |
41,706 | 1,058,498 | ||||||
Discovery Inc., Class C, NVS(a) |
83,856 | 2,035,185 | ||||||
DISH Network Corp., Class A(a) |
66,904 | 2,907,648 | ||||||
Entercom Communications Corp.(a) |
37,445 | 137,798 | ||||||
Entravision Communications Corp., Class A |
21,580 | 153,218 | ||||||
EW Scripps Co. (The), Class A |
13,770 | 248,686 | ||||||
Fox Corp., Class A, NVS |
86,600 | 3,473,526 | ||||||
Fox Corp., Class B |
37,683 | 1,398,793 | ||||||
Gannett Co. Inc.(a) |
33,398 | 223,099 | ||||||
Gray Television Inc. |
21,629 | 493,574 | ||||||
Iheartmedia Inc., Class A(a) |
28,487 | 712,745 | ||||||
Interpublic Group of Companies Inc. (The) |
104,951 | 3,848,553 | ||||||
John Wiley & Sons Inc., Class A |
12,394 | 647,091 | ||||||
Liberty Broadband Corp., Class A(a)(b) |
6,294 | 1,059,595 | ||||||
Liberty Broadband Corp., Class C, NVS(a) |
38,328 | 6,619,246 | ||||||
Liberty Media Corp.-Liberty SiriusXM, Class A(a) |
20,650 | 974,060 | ||||||
Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a) |
43,024 | 2,042,349 | ||||||
Loral Space & Communications Inc. |
3,203 | 137,761 | ||||||
Magnite Inc.(a)(b) |
34,172 | 956,816 | ||||||
Meredith Corp.(a) |
11,090 | 617,713 | ||||||
New York Times Co. (The), Class A |
43,900 | 2,162,953 | ||||||
News Corp., Class A, NVS |
104,423 | 2,457,073 | ||||||
News Corp., Class B |
31,676 | 735,833 | ||||||
Nexstar Media Group Inc., Class A |
10,624 | 1,614,423 | ||||||
Omnicom Group Inc. |
55,311 | 4,007,835 | ||||||
Scholastic Corp. |
6,981 | 248,873 | ||||||
Sinclair Broadcast Group Inc., Class A |
11,969 | 379,178 | ||||||
Sirius XM Holdings Inc. |
239,883 | 1,463,286 | ||||||
Stagwell Inc.(a)(b) |
18,793 | 144,142 | ||||||
TechTarget Inc.(a) |
5,954 | 490,729 | ||||||
TEGNA Inc. |
61,404 | 1,210,887 | ||||||
ViacomCBS Inc., Class B, NVS |
152,723 | 6,034,086 | ||||||
WideOpenWest Inc.(a) |
14,921 | 293,198 | ||||||
|
|
|||||||
148,645,297 | ||||||||
Metals & Mining — 0.5% | ||||||||
Alcoa Corp.(a) |
50,342 | 2,463,738 | ||||||
Allegheny Technologies Inc.(a) |
33,035 | 549,372 | ||||||
Arconic Corp.(a) |
26,343 | 830,858 | ||||||
Carpenter Technology Corp. |
13,456 | 440,549 | ||||||
Century Aluminum Co.(a)(b) |
12,861 | 172,980 | ||||||
Cleveland-Cliffs Inc.(a) |
122,964 | 2,435,917 | ||||||
Coeur Mining Inc.(a) |
61,270 | 378,036 | ||||||
Commercial Metals Co. |
31,893 | 971,461 | ||||||
Compass Minerals International Inc. |
9,058 | 583,335 | ||||||
Constellium SE(a) |
30,653 | 575,663 | ||||||
Ferroglobe PLC(a)(c) |
15,827 | 0 | (f) | |||||
Freeport-McMoRan Inc. |
387,398 | 12,602,057 | ||||||
Gatos Silver Inc.(a) |
13,058 | 151,865 | ||||||
Haynes International Inc. |
3,903 | 145,387 | ||||||
Hecla Mining Co. |
145,616 | 800,888 | ||||||
Kaiser Aluminum Corp. |
4,375 | 476,700 | ||||||
Materion Corp. |
5,032 | 345,396 | ||||||
MP Materials Corp.(a)(b) |
19,539 | 629,742 | ||||||
Newmont Corp. |
211,634 | 11,491,726 | ||||||
NovaGold Resources Inc.(a) |
62,376 | 429,147 |
Security | Shares | Value | ||||||
Metals & Mining (continued) | ||||||||
Nucor Corp. |
77,316 | $ | 7,614,853 | |||||
Reliance Steel & Aluminum Co. |
17,134 | 2,440,224 | ||||||
Royal Gold Inc. |
18,018 | 1,720,539 | ||||||
Ryerson Holding Corp. |
5,029 | 111,996 | ||||||
Schnitzer Steel Industries Inc., Class A |
6,280 | 275,127 | ||||||
Southern Copper Corp. |
21,739 | 1,220,427 | ||||||
Steel Dynamics Inc. |
52,573 | 3,074,469 | ||||||
SunCoke Energy Inc. |
26,472 | 166,244 | ||||||
TimkenSteel Corp.(a) |
10,107 | 132,200 | ||||||
United States Steel Corp. |
69,034 | 1,516,677 | ||||||
Warrior Met Coal Inc. |
15,243 | 354,705 | ||||||
Worthington Industries Inc. |
9,476 | 499,385 | ||||||
|
|
|||||||
55,601,663 | ||||||||
Mortgage Real Estate Investment — 0.2% | ||||||||
AGNC Investment Corp. |
138,304 | 2,181,054 | ||||||
Annaly Capital Management Inc. |
369,033 | 3,107,258 | ||||||
Apollo Commercial Real Estate Finance Inc. |
41,389 | 613,799 | ||||||
Arbor Realty Trust Inc. |
34,257 | 634,782 | ||||||
Ares Commercial Real Estate Corp. |
11,167 | 168,398 | ||||||
ARMOUR Residential REIT Inc. |
15,055 | 162,293 | ||||||
Blackstone Mortgage Trust Inc., Class A |
36,518 | 1,107,226 | ||||||
BrightSpire Capital Inc. |
23,662 | 222,186 | ||||||
Broadmark Realty Capital Inc. |
34,772 | 342,852 | ||||||
Capstead Mortgage Corp. |
23,375 | 156,379 | ||||||
Chimera Investment Corp. |
60,495 | 898,351 | ||||||
Dynex Capital Inc. |
7,444 | 128,632 | ||||||
Ellington Financial Inc. |
13,831 | 252,969 | ||||||
Granite Point Mortgage Trust Inc. |
16,075 | 211,708 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital Inc. |
19,465 | 1,040,988 | ||||||
Invesco Mortgage Capital Inc. |
49,103 | 154,674 | ||||||
KKR Real Estate Finance Trust Inc. |
6,660 | 140,526 | ||||||
Ladder Capital Corp. |
28,193 | 311,533 | ||||||
MFA Financial Inc. |
119,139 | 544,465 | ||||||
New Residential Investment Corp. |
113,584 | 1,249,424 | ||||||
New York Mortgage Trust Inc. |
93,411 | 397,931 | ||||||
Orchid Island Capital Inc. |
33,063 | 161,678 | ||||||
PennyMac Mortgage Investment Trust |
23,905 | 470,690 | ||||||
Ready Capital Corp. |
13,475 | 194,444 | ||||||
Redwood Trust Inc. |
31,849 | 410,534 | ||||||
Starwood Property Trust Inc. |
75,512 | 1,843,248 | ||||||
TPG RE Finance Trust Inc. |
14,995 | 185,638 | ||||||
Two Harbors Investment Corp. |
73,663 | 467,023 | ||||||
|
|
|||||||
17,760,683 | ||||||||
Multi-Utilities — 0.6% | ||||||||
Ameren Corp. |
67,520 | 5,469,120 | ||||||
Avista Corp. |
18,016 | 704,786 | ||||||
Black Hills Corp. |
16,189 | 1,016,022 | ||||||
CenterPoint Energy Inc. |
153,360 | 3,772,656 | ||||||
CMS Energy Corp. |
75,718 | 4,522,636 | ||||||
Consolidated Edison Inc. |
93,820 | 6,810,394 | ||||||
Dominion Energy Inc. |
212,930 | 15,548,149 | ||||||
DTE Energy Co. |
50,540 | 5,645,823 | ||||||
MDU Resources Group Inc. |
52,465 | 1,556,637 | ||||||
NiSource Inc. |
103,639 | 2,511,173 | ||||||
NorthWestern Corp. |
13,860 | 794,178 | ||||||
Public Service Enterprise Group Inc. |
132,178 | 8,049,640 | ||||||
Sempra Energy |
84,768 | 10,723,152 | ||||||
Unitil Corp. |
3,445 | 147,377 |
54 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Multi-Utilities (continued) | ||||||||
WEC Energy Group Inc. |
82,882 | $ | 7,310,192 | |||||
|
|
|||||||
74,581,935 | ||||||||
Multiline Retail — 0.5% | ||||||||
Big Lots Inc. |
9,011 | 390,717 | ||||||
Dillard’s Inc., Class A |
1,909 | 329,341 | ||||||
Dollar General Corp. |
62,432 | 13,244,324 | ||||||
Dollar Tree Inc.(a) |
61,100 | 5,848,492 | ||||||
Franchise Group Inc. |
5,143 | 182,114 | ||||||
Kohl’s Corp. |
41,978 | 1,976,744 | ||||||
Macy’s Inc. |
82,164 | 1,856,906 | ||||||
Nordstrom Inc.(a) |
29,224 | 772,975 | ||||||
Ollie’s Bargain Outlet Holdings Inc.(a)(b) |
17,096 | 1,030,547 | ||||||
Target Corp. |
131,344 | 30,047,567 | ||||||
|
|
|||||||
55,679,727 | ||||||||
Oil, Gas & Consumable Fuels — 2.5% | ||||||||
Alto Ingredients Inc.(a) |
23,753 | 117,340 | ||||||
Antero Midstream Corp. |
89,585 | 933,476 | ||||||
Antero Resources Corp.(a)(b) |
74,619 | 1,403,583 | ||||||
APA Corp. |
103,592 | 2,219,977 | ||||||
Arch Resources Inc.(a) |
3,207 | 297,449 | ||||||
Berry Corp. |
23,141 | 166,847 | ||||||
Bonanza Creek Energy Inc. |
8,180 | 391,822 | ||||||
Brigham Minerals Inc., Class A |
10,299 | 197,329 | ||||||
Cabot Oil & Gas Corp. |
106,462 | 2,316,613 | ||||||
California Resources Corp.(a) |
22,155 | 908,355 | ||||||
Callon Petroleum Co.(a) |
10,431 | 511,953 | ||||||
Centennial Resource Development Inc./DE, Class A(a) |
47,564 | 318,679 | ||||||
Cheniere Energy Inc.(a) |
61,829 | 6,038,838 | ||||||
Chesapeake Energy Corp. |
26,179 | 1,612,365 | ||||||
Chevron Corp. |
512,039 | 51,946,357 | ||||||
Cimarex Energy Co. |
26,548 | 2,314,986 | ||||||
Clean Energy Fuels Corp.(a) |
35,075 | 285,861 | ||||||
CNX Resources Corp.(a) |
60,178 | 759,446 | ||||||
Comstock Resources Inc.(a)(b) |
22,564 | 233,537 | ||||||
ConocoPhillips |
356,912 | 24,187,926 | ||||||
CONSOL Energy Inc.(a) |
7,704 | 200,458 | ||||||
Contango Oil & Gas Co.(a) |
46,659 | 213,232 | ||||||
Continental Resources Inc./OK(b) |
17,201 | 793,826 | ||||||
CVR Energy Inc. |
10,141 | 168,949 | ||||||
Delek U.S. Holdings Inc. |
15,792 | 283,782 | ||||||
Denbury Inc.(a) |
13,967 | 981,182 | ||||||
Devon Energy Corp. |
178,414 | 6,335,481 | ||||||
DHT Holdings Inc. |
27,263 | 178,027 | ||||||
Diamondback Energy Inc. |
47,860 | 4,530,906 | ||||||
Dorian LPG Ltd. |
9,511 | 118,031 | ||||||
DTE Midstream LLC(a) |
25,264 | 1,168,207 | ||||||
Energy Fuels Inc./Canada(a)(b) |
27,002 | 189,554 | ||||||
EOG Resources Inc. |
154,117 | 12,370,972 | ||||||
EQT Corp.(a) |
76,655 | 1,568,361 | ||||||
Equitrans Midstream Corp. |
112,493 | 1,140,679 | ||||||
Escrow PetroCorp.(a)(c) |
1,248 | — | ||||||
Extraction Oil & Gas Inc.(a) |
4,706 | 265,654 | ||||||
Exxon Mobil Corp. |
1,119,689 | 65,860,107 | ||||||
Frontline Ltd./Bermuda |
33,665 | 315,441 | ||||||
Gevo Inc.(a)(b) |
53,555 | 355,605 | ||||||
Golar LNG Ltd.(a) |
25,025 | 324,574 | ||||||
Green Plains Inc.(a) |
9,493 | 309,946 | ||||||
Hess Corp. |
74,030 | 5,782,483 |
Security | Shares | Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
HollyFrontier Corp. |
41,593 | $ | 1,377,976 | |||||
International Seaways Inc. |
7,763 | 141,442 | ||||||
Kinder Morgan Inc. |
514,220 | 8,602,901 | ||||||
Kosmos Energy Ltd.(a) |
97,932 | 289,879 | ||||||
Laredo Petroleum Inc.(a) |
3,318 | 268,990 | ||||||
Magnolia Oil & Gas Corp., Class A |
37,210 | 661,966 | ||||||
Marathon Oil Corp. |
209,580 | 2,864,959 | ||||||
Marathon Petroleum Corp. |
168,960 | 10,443,418 | ||||||
Matador Resources Co.(b) |
28,193 | 1,072,462 | ||||||
Murphy Oil Corp. |
41,164 | 1,027,865 | ||||||
New Fortress Energy Inc. |
7,428 | 206,127 | ||||||
Nordic American Tankers Ltd. |
51,862 | 132,767 | ||||||
Northern Oil and Gas Inc. |
13,020 | 278,628 | ||||||
Oasis Petroleum Inc. |
5,428 | 539,652 | ||||||
Occidental Petroleum Corp. |
223,841 | 6,621,217 | ||||||
ONEOK Inc. |
117,867 | 6,835,107 | ||||||
Ovintiv Inc. |
70,793 | 2,327,674 | ||||||
Par Pacific Holdings Inc.(a) |
11,391 | 179,067 | ||||||
PBF Energy Inc., Class A(a) |
23,643 | 306,650 | ||||||
PDC Energy Inc. |
27,638 | 1,309,765 | ||||||
Peabody Energy Corp.(a) |
21,480 | 317,689 | ||||||
Phillips 66 |
116,038 | 8,126,141 | ||||||
Pioneer Natural Resources Co. |
57,067 | 9,502,226 | ||||||
Range Resources Corp.(a) |
62,918 | 1,423,834 | ||||||
Renewable Energy Group Inc.(a) |
11,023 | 553,355 | ||||||
REX American Resources Corp.(a) |
1,550 | 123,798 | ||||||
Riley Exploration Permian Inc. |
3,549 | 83,331 | ||||||
Scorpio Tankers Inc. |
16,084 | 298,197 | ||||||
SFL Corp. Ltd. |
22,101 | 185,206 | ||||||
SM Energy Co. |
30,015 | 791,796 | ||||||
Southwestern Energy Co.(a) |
163,691 | 906,848 | ||||||
Talos Energy Inc.(a) |
12,486 | 171,932 | ||||||
Targa Resources Corp. |
60,848 | 2,994,330 | ||||||
Tellurian Inc.(a)(b) |
87,530 | 342,242 | ||||||
Texas Pacific Land Corp.(b) |
1,548 | 1,872,089 | ||||||
Uranium Energy Corp.(a)(b) |
63,574 | 193,901 | ||||||
Ur-Energy Inc.(a) |
92,825 | 159,659 | ||||||
Valero Energy Corp. |
108,027 | 7,623,465 | ||||||
Vine Energy Inc., Class A(a) |
8,121 | 133,753 | ||||||
W&T Offshore Inc.(a) |
33,365 | 124,118 | ||||||
Whiting Petroleum Corp.(a) |
10,235 | 597,826 | ||||||
Williams Companies Inc. (The) |
320,241 | 8,307,052 | ||||||
World Fuel Services Corp. |
17,867 | 600,689 | ||||||
|
|
|||||||
291,540,185 | ||||||||
Paper & Forest Products — 0.0% | ||||||||
Clearwater Paper Corp.(a) |
4,548 | 174,325 | ||||||
Domtar Corp.(a) |
14,003 | 763,724 | ||||||
Glatfelter Corp. |
10,509 | 148,177 | ||||||
Louisiana-Pacific Corp. |
24,610 | 1,510,316 | ||||||
Neenah Inc. |
4,653 | 216,876 | ||||||
Schweitzer-Mauduit International Inc. |
7,694 | 266,674 | ||||||
Verso Corp., Class A |
9,098 | 188,783 | ||||||
|
|
|||||||
3,268,875 | ||||||||
Personal Products — 0.2% | ||||||||
Beauty Health Co. (The)(a)(b) |
22,949 | 595,986 | ||||||
BellRing Brands Inc., Class A(a) |
10,710 | 329,332 | ||||||
Coty Inc., Class A(a) |
78,143 | 614,204 | ||||||
Edgewell Personal Care Co. |
15,227 | 552,740 | ||||||
elf Beauty Inc.(a) |
12,272 | 356,502 |
S C H E D U L E O F I N V E S T M E N T S |
55 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Personal Products (continued) | ||||||||
Estee Lauder Companies Inc. (The), Class A |
60,276 | $ | 18,078,581 | |||||
Herbalife Nutrition Ltd.(a) |
28,522 | 1,208,762 | ||||||
Inter Parfums Inc. |
5,068 | 378,934 | ||||||
Medifast Inc. |
3,208 | 617,989 | ||||||
Nu Skin Enterprises Inc., Class A |
14,645 | 592,683 | ||||||
USANA Health Sciences Inc.(a) |
3,640 | 335,608 | ||||||
Veru Inc.(a) |
16,634 | 141,888 | ||||||
|
|
|||||||
23,803,209 | ||||||||
Pharmaceuticals — 3.2% | ||||||||
Aclaris Therapeutics Inc.(a) |
11,394 | 205,092 | ||||||
Aerie Pharmaceuticals Inc.(a) |
12,163 | 138,658 | ||||||
Amneal Pharmaceuticals Inc.(a) |
26,830 | 143,272 | ||||||
Amphastar Pharmaceuticals Inc.(a) |
10,519 | 199,966 | ||||||
Ampio Pharmaceuticals Inc.(a)(b) |
74,778 | 124,131 | ||||||
Antares Pharma Inc.(a) |
37,628 | 136,966 | ||||||
Arvinas Inc.(a) |
11,713 | 962,574 | ||||||
Atea Pharmaceuticals Inc.(a) |
18,337 | 642,895 | ||||||
Athira Pharma Inc.(a) |
14,200 | 133,196 | ||||||
Axsome Therapeutics Inc.(a)(b) |
7,110 | 234,346 | ||||||
BioDelivery Sciences International Inc.(a) |
38,664 | 139,577 | ||||||
Bristol-Myers Squibb Co. |
590,614 | 34,946,630 | ||||||
Cara Therapeutics Inc.(a) |
9,236 | 142,696 | ||||||
Cassava Sciences Inc.(a)(b) |
10,034 | 622,911 | ||||||
Catalent Inc.(a) |
43,579 | 5,799,058 | ||||||
Citius Pharmaceuticals Inc.(a)(b) |
53,056 | 107,704 | ||||||
Collegium Pharmaceutical Inc.(a)(b) |
9,496 | 187,451 | ||||||
Corcept Therapeutics Inc.(a)(b) |
28,214 | 555,252 | ||||||
Durect Corp.(a)(b) |
94,674 | 121,183 | ||||||
Edgewise Therapeutics Inc.(a)(b) |
5,419 | 89,955 | ||||||
Elanco Animal Health Inc.(a) |
118,706 | 3,785,534 | ||||||
Eli Lilly & Co. |
224,111 | 51,780,847 | ||||||
Endo International PLC(a) |
60,905 | 197,332 | ||||||
Esperion Therapeutics Inc.(a)(b) |
8,396 | 101,172 | ||||||
Evolus Inc.(a) |
11,634 | 88,651 | ||||||
Fulcrum Therapeutics Inc.(a) |
6,338 | 178,795 | ||||||
Harmony Biosciences Holdings Inc.(a) |
7,433 | 284,907 | ||||||
Innoviva Inc.(a) |
11,375 | 190,076 | ||||||
Intra-Cellular Therapies Inc.(a) |
19,240 | 717,267 | ||||||
Jazz Pharmaceuticals PLC(a) |
15,930 | 2,074,245 | ||||||
Johnson & Johnson |
696,637 | 112,506,876 | ||||||
KemPharm Inc.(a)(b) |
11,609 | 108,312 | ||||||
Marinus Pharmaceuticals Inc.(a) |
11,686 | 132,987 | ||||||
Merck & Co. Inc. |
669,822 | 50,310,330 | ||||||
Mind Medicine MindMed Inc.(a) |
97,588 | 227,380 | ||||||
Nektar Therapeutics(a)(b) |
45,451 | 816,300 | ||||||
NGM Biopharmaceuticals Inc.(a) |
6,630 | 139,363 | ||||||
Nuvation Bio Inc.(a) |
14,444 | 143,573 | ||||||
Ocular Therapeutix Inc.(a)(b) |
22,744 | 227,440 | ||||||
Omeros Corp.(a)(b) |
13,724 | 189,254 | ||||||
Oramed Pharmaceuticals Inc.(a)(b) |
7,029 | 154,497 | ||||||
Organon & Co. |
68,692 | 2,252,411 | ||||||
Pacira BioSciences Inc.(a) |
11,890 | 665,840 | ||||||
Perrigo Co. PLC |
37,187 | 1,760,061 | ||||||
Pfizer Inc. |
1,476,011 | 63,483,233 | ||||||
Phathom Pharmaceuticals Inc.(a) |
5,956 | 191,188 | ||||||
Phibro Animal Health Corp., Class A |
5,200 | 112,008 | ||||||
Pliant Therapeutics Inc.(a) |
6,482 | 109,416 | ||||||
Prestige Consumer Healthcare Inc.(a) |
13,719 | 769,773 | ||||||
Provention Bio Inc.(a)(b) |
19,001 | 121,606 | ||||||
Reata Pharmaceuticals Inc., Class A(a)(b) |
7,385 | 743,005 |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
Relmada Therapeutics Inc.(a) |
5,359 | $ | 140,459 | |||||
Revance Therapeutics Inc.(a)(b) |
17,065 | 475,431 | ||||||
Royalty Pharma PLC, Class A |
87,044 | 3,145,770 | ||||||
SIGA Technologies Inc.(a)(b) |
21,405 | 158,183 | ||||||
Supernus Pharmaceuticals Inc.(a) |
13,186 | 351,671 | ||||||
TherapeuticsMD Inc.(a) |
136,221 | 100,994 | ||||||
Theravance Biopharma Inc.(a) |
15,492 | 114,641 | ||||||
Viatris Inc. |
321,872 | 4,361,366 | ||||||
Zoetis Inc. |
125,823 | 24,427,277 | ||||||
Zogenix Inc.(a) |
15,066 | 228,853 | ||||||
|
|
|||||||
373,701,837 | ||||||||
Professional Services — 0.7% | ||||||||
ASGN Inc.(a) |
13,393 | 1,515,284 | ||||||
Barrett Business Services Inc. |
1,753 | 133,684 | ||||||
Booz Allen Hamilton Holding Corp. |
35,390 | 2,808,197 | ||||||
CACI International Inc., Class A(a) |
6,103 | 1,599,596 | ||||||
CBIZ Inc.(a) |
13,652 | 441,506 | ||||||
Clarivate PLC(a)(b) |
115,155 | 2,521,895 | ||||||
CoStar Group Inc.(a) |
102,799 | 8,846,882 | ||||||
CRA International Inc. |
2,648 | 263,052 | ||||||
Dun & Bradstreet Holdings Inc.(a)(b) |
44,398 | 746,330 | ||||||
Equifax Inc. |
32,047 | 8,121,351 | ||||||
Exponent Inc. |
13,484 | 1,525,715 | ||||||
First Advantage Corp.(a) |
7,785 | 148,304 | ||||||
Forrester Research Inc.(a) |
3,655 | 180,045 | ||||||
Franklin Covey Co.(a) |
4,403 | 179,598 | ||||||
FTI Consulting Inc.(a) |
8,616 | 1,160,575 | ||||||
Heidrick & Struggles International Inc. |
4,485 | 200,166 | ||||||
Huron Consulting Group Inc.(a) |
5,820 | 302,640 | ||||||
ICF International Inc. |
4,885 | 436,182 | ||||||
IHS Markit Ltd. |
98,918 | 11,535,817 | ||||||
Insperity Inc. |
9,466 | 1,048,265 | ||||||
Jacobs Engineering Group Inc. |
33,736 | 4,471,032 | ||||||
KBR Inc. |
36,652 | 1,444,089 | ||||||
Kelly Services Inc., Class A, NVS |
10,149 | 191,613 | ||||||
Kforce Inc. |
5,089 | 303,508 | ||||||
Korn Ferry |
14,242 | 1,030,551 | ||||||
Legalzoomcom Inc.(a)(b) |
4,991 | 131,762 | ||||||
Leidos Holdings Inc. |
36,852 | 3,542,583 | ||||||
ManpowerGroup Inc. |
14,808 | 1,603,410 | ||||||
ManTech International Corp./VA, Class A |
7,130 | 541,310 | ||||||
Nielsen Holdings PLC |
96,626 | 1,854,253 | ||||||
Resources Connection Inc. |
10,775 | 170,030 | ||||||
Robert Half International Inc. |
29,519 | 2,961,641 | ||||||
Science Applications International Corp. |
16,018 | 1,370,500 | ||||||
TransUnion |
50,588 | 5,681,538 | ||||||
TriNet Group Inc.(a) |
10,412 | 984,767 | ||||||
TrueBlue Inc.(a) |
10,053 | 272,235 | ||||||
Upwork Inc.(a)(b) |
30,614 | 1,378,548 | ||||||
Verisk Analytics Inc. |
42,081 | 8,427,562 | ||||||
Willdan Group Inc.(a) |
3,294 | 117,233 | ||||||
|
|
|||||||
80,193,249 | ||||||||
Real Estate Management & Development — 0.2% | ||||||||
CBRE Group Inc., Class A(a) |
87,993 | 8,566,998 | ||||||
Cushman & Wakefield PLC(a)(b) |
31,893 | 593,529 | ||||||
eXp World Holdings Inc.(b) |
16,327 | 649,325 | ||||||
Forestar Group Inc.(a) |
6,159 | 114,742 | ||||||
FRP Holdings Inc.(a) |
2,536 | 141,813 | ||||||
Howard Hughes Corp. (The)(a) |
10,981 | 964,242 |
56 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Real Estate Management & Development (continued) | ||||||||
Jones Lang LaSalle Inc.(a) |
13,378 | $ | 3,318,948 | |||||
Kennedy-Wilson Holdings Inc. |
31,893 | 667,202 | ||||||
Marcus & Millichap Inc.(a) |
5,631 | 228,731 | ||||||
Newmark Group Inc., Class A |
41,911 | 599,746 | ||||||
Opendoor Technologies Inc.(a)(b) |
119,076 | 2,444,630 | ||||||
Rafael Holdings Inc., Class B(a)(b) |
3,422 | 105,158 | ||||||
RE/MAX Holdings Inc., Class A |
4,486 | 139,784 | ||||||
Realogy Holdings Corp.(a) |
31,717 | 556,316 | ||||||
Redfin Corp.(a) |
27,211 | 1,363,271 | ||||||
RMR Group Inc. (The), Class A |
4,164 | 139,286 | ||||||
St Joe Co. (The)(b) |
8,467 | 356,461 | ||||||
Tejon Ranch Co.(a) |
8,654 | 153,695 | ||||||
|
|
|||||||
21,103,877 | ||||||||
Road & Rail — 1.1% | ||||||||
AMERCO |
2,329 | 1,504,604 | ||||||
ArcBest Corp. |
6,209 | 507,710 | ||||||
Avis Budget Group Inc.(a)(b) |
12,821 | 1,493,775 | ||||||
CSX Corp. |
596,350 | 17,735,449 | ||||||
Daseke Inc.(a) |
12,171 | 112,095 | ||||||
Heartland Express Inc. |
11,974 | 191,823 | ||||||
JB Hunt Transport Services Inc. |
22,745 | 3,803,419 | ||||||
Kansas City Southern |
24,013 | 6,498,878 | ||||||
Knight-Swift Transportation Holdings Inc. |
42,311 | 2,164,208 | ||||||
Landstar System Inc. |
10,141 | 1,600,453 | ||||||
Lyft Inc., Class A(a) |
74,507 | 3,992,830 | ||||||
Marten Transport Ltd. |
14,176 | 222,421 | ||||||
Norfolk Southern Corp. |
64,858 | 15,517,276 | ||||||
Old Dominion Freight Line Inc. |
26,981 | 7,716,026 | ||||||
Ryder System Inc. |
14,800 | 1,224,108 | ||||||
Saia Inc.(a) |
7,133 | 1,697,868 | ||||||
Schneider National Inc., Class B |
14,890 | 338,599 | ||||||
TuSimple Holdings Inc., Class A(a)(b) |
10,154 | 377,018 | ||||||
Uber Technologies Inc.(a) |
427,406 | 19,147,789 | ||||||
Union Pacific Corp. |
172,371 | 33,786,440 | ||||||
Werner Enterprises Inc. |
16,468 | 729,038 | ||||||
XPO Logistics Inc.(a) |
25,588 | 2,036,293 | ||||||
|
|
|||||||
122,398,120 | ||||||||
Semiconductors & Semiconductor Equipment — 5.0% | ||||||||
Advanced Micro Devices Inc.(a) |
319,979 | 32,925,839 | ||||||
Allegro MicroSystems Inc.(a) |
12,602 | 402,760 | ||||||
Alpha & Omega Semiconductor Ltd.(a)(b) |
6,417 | 201,301 | ||||||
Ambarella Inc.(a)(b) |
8,735 | 1,360,389 | ||||||
Amkor Technology Inc. |
29,188 | 728,241 | ||||||
Analog Devices Inc. |
142,172 | 23,810,967 | ||||||
Applied Materials Inc. |
242,031 | 31,156,651 | ||||||
Atomera Inc.(a) |
5,844 | 134,938 | ||||||
Axcelis Technologies Inc.(a) |
10,082 | 474,156 | ||||||
AXT Inc.(a) |
13,510 | 112,538 | ||||||
Broadcom Inc. |
105,547 | 51,182,907 | ||||||
Brooks Automation Inc. |
19,150 | 1,960,003 | ||||||
CEVA Inc.(a) |
5,693 | 242,920 | ||||||
Cirrus Logic Inc.(a) |
15,424 | 1,270,166 | ||||||
CMC Materials Inc. |
8,037 | 990,400 | ||||||
Cohu Inc.(a) |
11,162 | 356,514 | ||||||
Diodes Inc.(a) |
11,057 | 1,001,654 | ||||||
DSP Group Inc.(a) |
5,947 | 130,299 | ||||||
Enphase Energy Inc.(a)(b) |
34,889 | 5,232,303 | ||||||
Entegris Inc. |
35,550 | 4,475,745 | ||||||
First Solar Inc.(a) |
27,756 | 2,649,588 |
Security | Shares | Value | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
FormFactor Inc.(a) |
20,527 | $ | 766,273 | |||||
Ichor Holdings Ltd.(a) |
7,365 | 302,628 | ||||||
Impinj Inc.(a) |
4,739 | 270,739 | ||||||
Intel Corp. |
1,068,687 | 56,939,643 | ||||||
KLA Corp. |
40,594 | 13,579,099 | ||||||
Kopin Corp.(a)(b) |
21,728 | 111,465 | ||||||
Kulicke & Soffa Industries Inc. |
15,165 | 883,816 | ||||||
Lam Research Corp. |
37,658 | 21,433,051 | ||||||
Lattice Semiconductor Corp.(a) |
35,599 | 2,301,475 | ||||||
MACOM Technology Solutions Holdings Inc.(a) |
13,209 | 856,868 | ||||||
Marvell Technology Inc. |
217,069 | 13,091,431 | ||||||
MaxLinear Inc.(a) |
18,862 | 928,954 | ||||||
Meta Materials Inc.(a)(b) |
57,796 | 334,061 | ||||||
Microchip Technology Inc. |
71,312 | 10,945,679 | ||||||
Micron Technology Inc. |
296,340 | 21,034,213 | ||||||
MKS Instruments Inc. |
14,549 | 2,195,590 | ||||||
Monolithic Power Systems Inc. |
11,910 | 5,772,539 | ||||||
NeoPhotonics Corp.(a) |
15,695 | 136,703 | ||||||
NVE Corp. |
1,555 | 99,473 | ||||||
NVIDIA Corp. |
632,553 | 131,039,679 | ||||||
NXP Semiconductors NV |
70,259 | 13,761,630 | ||||||
ON Semiconductor Corp.(a) |
111,850 | 5,119,374 | ||||||
Onto Innovation Inc.(a) |
12,329 | 890,770 | ||||||
PDF Solutions Inc.(a)(b) |
10,173 | 234,386 | ||||||
Photronics Inc.(a) |
16,335 | 222,646 | ||||||
Power Integrations Inc. |
15,725 | 1,556,618 | ||||||
Qorvo Inc.(a) |
29,254 | 4,890,976 | ||||||
QUALCOMM Inc. |
298,252 | 38,468,543 | ||||||
Rambus Inc.(a)(b) |
27,511 | 610,744 | ||||||
Semtech Corp.(a) |
18,060 | 1,408,138 | ||||||
Silicon Laboratories Inc.(a) |
11,461 | 1,606,374 | ||||||
SiTime Corp.(a) |
3,119 | 636,806 | ||||||
Skyworks Solutions Inc. |
43,473 | 7,163,481 | ||||||
SMART Global Holdings Inc.(a)(b) |
4,866 | 216,537 | ||||||
SunPower Corp.(a)(b) |
19,868 | 450,606 | ||||||
Synaptics Inc.(a) |
9,693 | 1,742,123 | ||||||
Teradyne Inc. |
43,913 | 4,793,982 | ||||||
Texas Instruments Inc. |
244,208 | 46,939,220 | ||||||
Ultra Clean Holdings Inc.(a) |
11,567 | 492,754 | ||||||
Universal Display Corp. |
11,873 | 2,029,808 | ||||||
Veeco Instruments Inc.(a) |
11,300 | 250,973 | ||||||
Xilinx Inc. |
65,048 | 9,821,598 | ||||||
|
|
|||||||
587,131,745 | ||||||||
Software — 10.0% | ||||||||
8x8 Inc.(a)(b) |
28,269 | 661,212 | ||||||
A10 Networks Inc.(a) |
15,004 | 202,254 | ||||||
ACI Worldwide Inc.(a) |
31,893 | 980,072 | ||||||
Adobe Inc.(a) |
126,235 | 72,676,014 | ||||||
Agilysys Inc.(a) |
4,028 | 210,906 | ||||||
Alarm.com Holdings Inc.(a) |
12,278 | 960,017 | ||||||
Altair Engineering Inc., Class A(a)(b) |
12,077 | 832,588 | ||||||
Alteryx Inc., Class A(a) |
15,605 | 1,140,725 | ||||||
American Software Inc./GA, Class A |
6,263 | 148,746 | ||||||
Anaplan Inc.(a) |
37,334 | 2,273,267 | ||||||
ANSYS Inc.(a) |
23,004 | 7,831,712 | ||||||
Appfolio Inc., Class A(a)(b) |
4,820 | 580,328 | ||||||
Appian Corp.(a)(b) |
10,367 | 959,051 | ||||||
Asana Inc., Class A(a) |
19,806 | 2,056,655 | ||||||
Aspen Technology Inc.(a) |
18,610 | 2,285,308 | ||||||
Atlassian Corp. PLC, Class A(a) |
36,122 | 14,138,873 |
S C H E D U L E O F I N V E S T M E N T S |
57 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Autodesk Inc.(a) |
58,273 | $ | 16,617,711 | |||||
Avalara Inc.(a) |
22,563 | 3,943,336 | ||||||
Avaya Holdings Corp.(a)(b) |
21,803 | 431,481 | ||||||
Benefitfocus Inc.(a) |
10,243 | 113,697 | ||||||
Bentley Systems Inc., Class B(b) |
35,783 | 2,169,881 | ||||||
Bill.com Holdings Inc.(a) |
20,860 | 5,568,577 | ||||||
Black Knight Inc.(a) |
41,232 | 2,968,704 | ||||||
Blackbaud Inc.(a) |
12,922 | 909,063 | ||||||
Blackline Inc.(a)(b) |
13,540 | 1,598,532 | ||||||
Bottomline Technologies DE Inc.(a) |
11,221 | 440,761 | ||||||
Box Inc., Class A(a) |
38,542 | 912,289 | ||||||
BTRS Holdings Inc.(a)(b) |
18,266 | 194,350 | ||||||
C3.ai Inc., Class A(a)(b) |
9,063 | 419,979 | ||||||
Cadence Design Systems Inc.(a) |
72,620 | 10,997,573 | ||||||
CDK Global Inc. |
33,743 | 1,435,765 | ||||||
Cerence Inc.(a)(b) |
9,988 | 959,947 | ||||||
Ceridian HCM Holding Inc.(a)(b) |
34,222 | 3,854,082 | ||||||
ChannelAdvisor Corp.(a) |
5,052 | 127,462 | ||||||
Citrix Systems Inc. |
32,482 | 3,487,592 | ||||||
Cleanspark Inc.(a)(b) |
10,145 | 117,581 | ||||||
Cloudera Inc.(a) |
62,927 | 1,004,944 | ||||||
CommVault Systems Inc.(a) |
11,015 | 829,540 | ||||||
Cornerstone OnDemand Inc.(a) |
16,189 | 926,982 | ||||||
Coupa Software Inc.(a) |
19,693 | 4,316,312 | ||||||
Crowdstrike Holdings Inc., Class A(a) |
52,228 | 12,836,598 | ||||||
CS Disco Inc.(a) |
3,402 | 163,092 | ||||||
Datadog Inc., Class A(a) |
61,537 | 8,698,255 | ||||||
Datto Holding Corp.(a)(b) |
6,467 | 154,561 | ||||||
Digimarc Corp.(a)(b) |
4,190 | 144,304 | ||||||
Digital Turbine Inc.(a) |
22,749 | 1,563,994 | ||||||
DocuSign Inc.(a) |
50,442 | 12,985,284 | ||||||
Dolby Laboratories Inc., Class A |
17,471 | 1,537,448 | ||||||
Domo Inc., Class B(a) |
6,939 | 585,929 | ||||||
DoubleVerify Holdings Inc.(a)(b) |
4,681 | 159,903 | ||||||
Dropbox Inc., Class A(a) |
80,559 | 2,353,934 | ||||||
Duck Creek Technologies Inc.(a) |
19,673 | 870,334 | ||||||
Dynatrace Inc.(a) |
52,122 | 3,699,098 | ||||||
E2open Parent Holdings Inc.(a) |
42,701 | 482,521 | ||||||
Ebix Inc. |
6,870 | 185,009 | ||||||
Elastic NV(a) |
17,799 | 2,651,873 | ||||||
Envestnet Inc.(a) |
14,799 | 1,187,472 | ||||||
Everbridge Inc.(a)(b) |
9,692 | 1,463,880 | ||||||
Fair Isaac Corp.(a) |
7,366 | 2,931,152 | ||||||
Five9 Inc.(a) |
17,864 | 2,853,595 | ||||||
Fortinet Inc.(a) |
35,395 | 10,336,756 | ||||||
Guidewire Software Inc.(a)(b) |
21,949 | 2,609,078 | ||||||
HubSpot Inc.(a) |
11,797 | 7,975,834 | ||||||
InterDigital Inc. |
8,950 | 606,989 | ||||||
Intuit Inc. |
67,451 | 36,390,489 | ||||||
J2 Global Inc.(a) |
11,474 | 1,567,578 | ||||||
Jamf Holding Corp.(a)(b) |
11,327 | 436,316 | ||||||
JFrog Ltd.(a)(b) |
14,079 | 471,647 | ||||||
LivePerson Inc.(a) |
16,628 | 980,221 | ||||||
Mandiant Inc. |
61,398 | 1,092,884 | ||||||
Manhattan Associates Inc.(a) |
16,604 | 2,540,910 | ||||||
Marathon Digital Holdings Inc.(a)(b) |
25,044 | 790,890 | ||||||
McAfee Corp., Class A |
18,049 | 399,063 | ||||||
Medallia Inc.(a) |
27,429 | 929,020 | ||||||
Microsoft Corp. |
1,992,631 | 561,762,532 | ||||||
MicroStrategy Inc., Class A(a)(b) |
2,089 | 1,208,278 |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Mimecast Ltd.(a) |
15,243 | $ | 969,455 | |||||
Mitek Systems Inc.(a)(b) |
8,109 | 150,017 | ||||||
Model N Inc.(a)(b) |
9,693 | 324,716 | ||||||
Momentive Global Inc.(a)(b) |
32,249 | 632,080 | ||||||
N-Able Inc.(a) |
8,957 | 111,156 | ||||||
nCino Inc.(a)(b) |
14,864 | 1,055,790 | ||||||
NCR Corp.(a) |
33,743 | 1,307,879 | ||||||
New Relic Inc.(a) |
13,845 | 993,656 | ||||||
NortonLifeLock Inc. |
144,679 | 3,660,379 | ||||||
Nuance Communications Inc.(a) |
76,475 | 4,209,184 | ||||||
Nutanix Inc., Class A(a) |
49,784 | 1,876,857 | ||||||
ON24 Inc.(a) |
4,102 | 81,794 | ||||||
OneSpan Inc.(a) |
7,046 | 132,324 | ||||||
Oracle Corp. |
445,640 | 38,828,613 | ||||||
Pagerduty Inc.(a)(b) |
21,345 | 884,110 | ||||||
Palantir Technologies Inc., Class A(a) |
429,029 | 10,313,857 | ||||||
Palo Alto Networks Inc.(a) |
25,065 | 12,006,135 | ||||||
Paycom Software Inc.(a) |
13,425 | 6,655,444 | ||||||
Paycor HCM Inc.(a) |
5,423 | 190,673 | ||||||
Paylocity Holding Corp.(a) |
9,926 | 2,783,250 | ||||||
Pegasystems Inc. |
11,039 | 1,403,057 | ||||||
Ping Identity Holding Corp.(a)(b) |
9,912 | 243,538 | ||||||
Procore Technologies Inc.(a) |
2,680 | 239,431 | ||||||
Progress Software Corp. |
11,810 | 580,934 | ||||||
PROS Holdings Inc.(a) |
11,855 | 420,615 | ||||||
PTC Inc.(a) |
28,214 | 3,379,755 | ||||||
Q2 Holdings Inc.(a) |
14,878 | 1,192,323 | ||||||
QAD Inc., Class A |
3,452 | 301,670 | ||||||
Qualys Inc.(a) |
8,872 | 987,365 | ||||||
Rapid7 Inc.(a)(b) |
14,174 | 1,601,945 | ||||||
Rekor Systems Inc.(a) |
13,295 | 152,760 | ||||||
Rimini Street Inc.(a) |
14,837 | 143,177 | ||||||
RingCentral Inc., Class A(a) |
21,414 | 4,657,545 | ||||||
Riot Blockchain Inc.(a)(b) |
22,116 | 568,381 | ||||||
SailPoint Technologies Holdings Inc.(a) |
23,085 | 989,885 | ||||||
salesforce.com Inc.(a) |
244,342 | 66,270,437 | ||||||
Sapiens International Corp. NV |
6,918 | 199,100 | ||||||
ServiceNow Inc.(a) |
52,155 | 32,454,492 | ||||||
ShotSpotter Inc.(a) |
2,597 | 94,453 | ||||||
Smartsheet Inc., Class A(a) |
32,133 | 2,211,393 | ||||||
Splunk Inc.(a)(b) |
43,424 | 6,283,887 | ||||||
Sprout Social Inc., Class A(a) |
11,692 | 1,425,839 | ||||||
SPS Commerce Inc.(a) |
9,182 | 1,481,148 | ||||||
SS&C Technologies Holdings Inc. |
59,212 | 4,109,313 | ||||||
Sumo Logic Inc.(a)(b) |
22,828 | 367,987 | ||||||
Synopsys Inc.(a) |
40,073 | 11,998,257 | ||||||
Telos Corp.(a) |
10,508 | 298,637 | ||||||
Tenable Holdings Inc.(a) |
24,054 | 1,109,852 | ||||||
Teradata Corp.(a) |
29,147 | 1,671,580 | ||||||
Trade Desk Inc. (The), Class A(a)(b) |
113,525 | 7,980,807 | ||||||
Tyler Technologies Inc.(a) |
10,728 | 4,920,397 | ||||||
Unity Software Inc.(a)(b) |
38,942 | 4,916,427 | ||||||
Upland Software Inc.(a) |
5,993 | 200,406 | ||||||
Varonis Systems Inc.(a) |
27,621 | 1,680,738 | ||||||
Verint Systems Inc.(a)(b) |
17,874 | 800,576 | ||||||
Veritone Inc.(a)(b) |
6,180 | 147,640 | ||||||
Viant Technology Inc., Class A(a) |
5,269 | 64,387 | ||||||
VMware Inc., Class A(a)(b) |
21,689 | 3,225,154 | ||||||
Vonage Holdings Corp.(a) |
63,380 | 1,021,686 | ||||||
Wolfspeed Inc. |
29,985 | 2,420,689 |
58 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Workday Inc., Class A(a) |
49,786 | $ | 12,441,024 | |||||
Workiva Inc.(a) |
11,105 | 1,565,361 | ||||||
Xperi Holding Corp. |
28,191 | 531,118 | ||||||
Yext Inc.(a) |
25,674 | 308,858 | ||||||
Zendesk Inc.(a) |
31,440 | 3,659,302 | ||||||
Zix Corp.(a) |
16,737 | 118,331 | ||||||
Zoom Video Communications Inc., Class A(a) |
56,410 | 14,751,215 | ||||||
Zscaler Inc.(a) |
20,546 | 5,387,572 | ||||||
Zuora Inc., Class A(a) |
29,621 | 491,116 | ||||||
|
|
|||||||
1,160,529,519 | ||||||||
Specialty Retail — 2.3% | ||||||||
Aaron’s Co. Inc. (The) |
9,366 | 257,940 | ||||||
Abercrombie & Fitch Co., Class A(a) |
18,018 | 678,017 | ||||||
Academy Sports & Outdoors Inc.(a)(b) |
20,449 | 818,369 | ||||||
Advance Auto Parts Inc. |
17,653 | 3,687,535 | ||||||
American Eagle Outfitters Inc. |
39,087 | 1,008,445 | ||||||
America’s Car-Mart Inc./TX(a) |
1,966 | 229,589 | ||||||
Arko Corp.(a) |
31,766 | 320,837 | ||||||
Asbury Automotive Group Inc.(a) |
5,276 | 1,038,000 | ||||||
AutoNation Inc.(a) |
11,963 | 1,456,615 | ||||||
AutoZone Inc.(a) |
5,704 | 9,685,335 | ||||||
Bath & Body Works Inc. |
64,625 | 4,073,314 | ||||||
Bed Bath & Beyond Inc.(a) |
28,680 | 495,447 | ||||||
Best Buy Co. Inc. |
65,719 | 6,947,155 | ||||||
Big 5 Sporting Goods Corp. |
5,677 | 130,798 | ||||||
Boot Barn Holdings Inc.(a)(b) |
6,993 | 621,468 | ||||||
Buckle Inc. (The) |
6,836 | 270,637 | ||||||
Burlington Stores Inc.(a) |
17,626 | 4,998,205 | ||||||
Caleres Inc. |
10,750 | 238,865 | ||||||
Camping World Holdings Inc., Class A |
10,975 | 426,598 | ||||||
CarMax Inc.(a) |
42,927 | 5,492,939 | ||||||
Carvana Co.(a) |
20,379 | 6,145,084 | ||||||
Cato Corp. (The), Class A |
7,369 | 121,883 | ||||||
Chico’s FAS Inc.(a) |
32,281 | 144,942 | ||||||
Children’s Place Inc. (The)(a) |
3,265 | 245,724 | ||||||
Citi Trends Inc.(a) |
2,351 | 171,529 | ||||||
Conn’s Inc.(a)(b) |
5,993 | 136,820 | ||||||
Container Store Group Inc. (The)(a) |
11,291 | 107,490 | ||||||
Designer Brands Inc. , Class A(a) |
17,851 | 248,664 | ||||||
Dick’s Sporting Goods Inc. |
16,597 | 1,987,823 | ||||||
Five Below Inc.(a) |
14,713 | 2,601,406 | ||||||
Floor & Decor Holdings Inc., Class A(a) |
26,901 | 3,249,372 | ||||||
Foot Locker Inc. |
24,327 | 1,110,771 | ||||||
GameStop Corp., Class A(a)(b) |
17,009 | 2,984,569 | ||||||
Gap Inc. (The) |
53,565 | 1,215,926 | ||||||
Genesco Inc.(a) |
3,203 | 184,909 | ||||||
Group 1 Automotive Inc. |
4,390 | 824,793 | ||||||
GrowGeneration Corp.(a)(b) |
14,373 | 354,582 | ||||||
Guess? Inc. |
9,608 | 201,864 | ||||||
Haverty Furniture Companies Inc. |
4,607 | 155,302 | ||||||
Hibbett Inc. |
4,221 | 298,594 | ||||||
Home Depot Inc. (The) |
281,161 | 92,293,910 | ||||||
Leslie’s Inc.(a)(b) |
35,217 | 723,357 | ||||||
Lithia Motors Inc. |
7,842 | 2,486,228 | ||||||
Lowe’s Companies Inc. |
187,025 | 37,939,891 | ||||||
Lumber Liquidators Holdings Inc.(a) |
6,790 | 126,837 | ||||||
MarineMax Inc.(a) |
5,334 | 258,806 | ||||||
Monro Inc. |
8,467 | 486,937 | ||||||
Murphy USA Inc. |
6,669 | 1,115,457 | ||||||
National Vision Holdings Inc.(a)(b) |
20,793 | 1,180,419 |
Security | Shares | Value | ||||||
Specialty Retail (continued) | ||||||||
O’Reilly Automotive Inc.(a) |
18,066 | $ | 11,039,410 | |||||
ODP Corp. (The)(a) |
14,456 | 580,553 | ||||||
OneWater Marine Inc., Class A |
3,398 | 136,634 | ||||||
Party City Holdco Inc.(a)(b) |
28,969 | 205,680 | ||||||
Penske Automotive Group Inc. |
8,915 | 896,849 | ||||||
Petco Health & Wellness Co. Inc.(a)(b) |
14,652 | 309,157 | ||||||
Rent-A-Center Inc./TX |
17,146 | 963,777 | ||||||
RH(a)(b) |
4,541 | 3,028,438 | ||||||
Ross Stores Inc. |
92,876 | 10,109,553 | ||||||
Sally Beauty Holdings Inc.(a)(b) |
27,908 | 470,250 | ||||||
Shift Technologies Inc.(a)(b) |
16,823 | 116,752 | ||||||
Shoe Carnival Inc. |
3,620 | 117,360 | ||||||
Signet Jewelers Ltd. |
13,321 | 1,051,826 | ||||||
Sleep Number Corp.(a)(b) |
5,818 | 543,867 | ||||||
Sonic Automotive Inc., Class A |
7,317 | 384,435 | ||||||
Sportsman’s Warehouse Holdings Inc.(a) |
13,414 | 236,086 | ||||||
Tilly’s Inc., Class A |
8,407 | 117,782 | ||||||
TJX Companies Inc. (The) |
318,890 | 21,040,362 | ||||||
Tractor Supply Co. |
30,468 | 6,173,121 | ||||||
TravelCenters of America Inc.(a) |
4,080 | 203,143 | ||||||
Ulta Beauty Inc.(a) |
14,197 | 5,123,981 | ||||||
Urban Outfitters Inc.(a) |
18,943 | 562,418 | ||||||
Victoria’s Secret & Co.(a) |
20,506 | 1,133,162 | ||||||
Vroom Inc.(a)(b) |
30,842 | 680,683 | ||||||
Williams-Sonoma Inc. |
19,750 | 3,502,267 | ||||||
Winmark Corp. |
780 | 167,723 | ||||||
Zumiez Inc.(a) |
5,438 | 216,215 | ||||||
|
|
|||||||
271,091,481 | ||||||||
Technology Hardware, Storage & Peripherals — 5.3% | ||||||||
3D Systems Corp.(a) |
31,239 | 861,259 | ||||||
Apple Inc. |
4,151,172 | 587,390,838 | ||||||
Avid Technology Inc.(a) |
7,656 | 221,411 | ||||||
Corsair Gaming Inc.(a)(b) |
6,163 | 159,807 | ||||||
Dell Technologies Inc., Class C(a) |
71,350 | 7,423,254 | ||||||
Diebold Nixdorf Inc.(a) |
20,428 | 206,527 | ||||||
Eastman Kodak Co.(a) |
12,952 | 88,203 | ||||||
Hewlett Packard Enterprise Co. |
347,826 | 4,956,520 | ||||||
HP Inc. |
318,539 | 8,715,227 | ||||||
NetApp Inc. |
59,018 | 5,297,456 | ||||||
Pure Storage Inc., Class A(a) |
67,731 | 1,704,112 | ||||||
Quantum Corp.(a) |
19,442 | 100,710 | ||||||
Super Micro Computer Inc.(a) |
10,617 | 388,264 | ||||||
Turtle Beach Corp.(a)(b) |
4,798 | 133,480 | ||||||
Western Digital Corp.(a) |
81,339 | 4,590,773 | ||||||
Xerox Holdings Corp. |
40,011 | 807,022 | ||||||
|
|
|||||||
623,044,863 | ||||||||
Textiles, Apparel & Luxury Goods — 0.8% | ||||||||
Capri Holdings Ltd.(a) |
39,893 | 1,931,220 | ||||||
Carter’s Inc. |
11,287 | 1,097,548 | ||||||
Columbia Sportswear Co. |
10,074 | 965,492 | ||||||
Crocs Inc.(a) |
16,255 | 2,332,267 | ||||||
Deckers Outdoor Corp.(a) |
7,186 | 2,588,397 | ||||||
Fossil Group Inc.(a) |
10,747 | 127,352 | ||||||
G-III Apparel Group Ltd.(a) |
11,312 | 320,130 | ||||||
Hanesbrands Inc. |
95,738 | 1,642,864 | ||||||
Kontoor Brands Inc. |
14,233 | 710,938 | ||||||
Lululemon Athletica Inc.(a) |
30,108 | 12,184,708 | ||||||
Movado Group Inc. |
4,380 | 137,926 | ||||||
Nike Inc., Class B |
327,567 | 47,572,555 |
S C H E D U L E O F I N V E S T M E N T S |
59 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Textiles, Apparel & Luxury Goods (continued) | ||||||||
Oxford Industries Inc. |
4,626 | $ | 417,126 | |||||
PLBY Group Inc.(a)(b) |
4,196 | 98,900 | ||||||
PVH Corp.(a) |
19,129 | 1,966,270 | ||||||
Ralph Lauren Corp. |
12,441 | 1,381,449 | ||||||
Rocky Brands Inc. |
2,570 | 122,358 | ||||||
Skechers U.S.A. Inc., Class A(a) |
35,206 | 1,482,877 | ||||||
Steven Madden Ltd. |
22,320 | 896,371 | ||||||
Tapestry Inc. |
74,171 | 2,745,810 | ||||||
Under Armour Inc., Class A(a)(b) |
50,563 | 1,020,361 | ||||||
Under Armour Inc., Class C, NVS(a) |
51,457 | 901,527 | ||||||
VF Corp. |
85,105 | 5,701,184 | ||||||
Wolverine World Wide Inc. |
22,727 | 678,174 | ||||||
|
|
|||||||
89,023,804 | ||||||||
Thrifts & Mortgage Finance — 0.1% | ||||||||
Axos Financial Inc.(a) |
15,124 | 779,491 | ||||||
Bridgewater Bancshares Inc.(a) |
8,217 | 143,880 | ||||||
Capitol Federal Financial Inc. |
39,563 | 454,579 | ||||||
Columbia Financial Inc.(a)(b) |
13,235 | 244,848 | ||||||
Essent Group Ltd. |
29,429 | 1,295,170 | ||||||
Federal Agricultural Mortgage Corp., Class C, NVS |
2,539 | 275,532 | ||||||
Finance of America Companies Inc., Class A(a)(b) |
19,994 | 98,970 | ||||||
Flagstar Bancorp. Inc. |
14,392 | 730,826 | ||||||
Hingham Institution For Savings (The) |
458 | 154,209 | ||||||
HomeStreet Inc. |
5,342 | 219,823 | ||||||
Kearny Financial Corp./MD |
24,703 | 307,058 | ||||||
Merchants Bancorp./IN |
3,489 | 137,711 | ||||||
Meridian Bancorp. Inc. |
13,269 | 275,464 | ||||||
Meta Financial Group Inc. |
9,253 | 485,597 | ||||||
MGIC Investment Corp. |
89,491 | 1,338,785 | ||||||
Mr Cooper Group Inc.(a) |
19,672 | 809,896 | ||||||
New York Community Bancorp. Inc. |
125,786 | 1,618,866 | ||||||
NMI Holdings Inc., Class A(a) |
22,295 | 504,090 | ||||||
Northfield Bancorp. Inc. |
14,009 | 240,394 | ||||||
Northwest Bancshares Inc. |
35,751 | 474,773 | ||||||
PennyMac Financial Services Inc. |
9,136 | 558,484 | ||||||
Premier Financial Corp. |
8,992 | 286,305 | ||||||
Provident Financial Services Inc. |
21,816 | 512,022 | ||||||
Radian Group Inc. |
50,333 | 1,143,566 | ||||||
Rocket Companies Inc., Class A |
31,209 | 500,592 | ||||||
Southern Missouri Bancorp. Inc. |
2,574 | 115,547 | ||||||
TFS Financial Corp. |
15,293 | 291,485 | ||||||
TrustCo Bank Corp. NY |
5,288 | 169,057 | ||||||
UWM Holdings Corp. |
14,008 | 97,356 | ||||||
Walker & Dunlop Inc. |
7,916 | 898,466 | ||||||
Washington Federal Inc. |
16,860 | 578,467 | ||||||
Waterstone Financial Inc. |
8,324 | 170,559 | ||||||
WSFS Financial Corp. |
12,688 | 651,021 | ||||||
|
|
|||||||
16,562,889 | ||||||||
Tobacco — 0.5% | ||||||||
22nd Century Group Inc.(a)(b) |
41,631 | 123,228 | ||||||
Altria Group Inc. |
488,499 | 22,236,474 | ||||||
Philip Morris International Inc. |
411,697 | 39,024,759 | ||||||
Turning Point Brands Inc. |
3,895 | 185,986 | ||||||
Universal Corp./VA |
6,692 | 323,424 | ||||||
Vector Group Ltd. |
41,437 | 528,322 | ||||||
|
|
|||||||
62,422,193 | ||||||||
Trading Companies & Distributors — 0.3% | ||||||||
Air Lease Corp. |
28,543 | 1,122,882 | ||||||
Alta Equipment Group Inc.(a) |
9,002 | 123,597 |
Security | Shares | Value | ||||||
Trading Companies & Distributors (continued) | ||||||||
Applied Industrial Technologies Inc. |
9,930 | $ | 894,991 | |||||
Beacon Roofing Supply Inc.(a) |
14,362 | 685,929 | ||||||
BlueLinx Holdings Inc.(a) |
2,301 | 112,473 | ||||||
Boise Cascade Co. |
9,693 | 523,228 | ||||||
CAI International Inc. |
4,258 | 238,065 | ||||||
Core & Main Inc., Class A(a) |
9,264 | 242,809 | ||||||
DXP Enterprises Inc./TX(a) |
5,448 | 161,097 | ||||||
Fastenal Co. |
151,174 | 7,802,090 | ||||||
GATX Corp. |
9,083 | 813,473 | ||||||
Global Industrial Co. |
3,377 | 127,955 | ||||||
GMS Inc.(a) |
11,231 | 491,918 | ||||||
H&E Equipment Services Inc. |
8,192 | 284,344 | ||||||
Herc Holdings Inc.(a) |
6,356 | 1,038,952 | ||||||
McGrath RentCorp |
6,189 | 445,299 | ||||||
MRC Global Inc.(a) |
23,482 | 172,358 | ||||||
MSC Industrial Direct Co. Inc., Class A |
12,424 | 996,281 | ||||||
NOW Inc.(a) |
27,837 | 212,953 | ||||||
Rush Enterprises Inc., Class A |
12,390 | 559,532 | ||||||
Rush Enterprises Inc., Class B |
2,080 | 95,202 | ||||||
SiteOne Landscape Supply Inc.(a) |
11,569 | 2,307,668 | ||||||
Textainer Group Holdings Ltd.(a) |
11,963 | 417,628 | ||||||
Titan Machinery Inc.(a)(b) |
5,753 | 149,060 | ||||||
Transcat Inc.(a) |
2,752 | 177,449 | ||||||
Triton International Ltd. |
16,953 | 882,234 | ||||||
United Rentals Inc.(a) |
19,110 | 6,706,272 | ||||||
Univar Solutions Inc.(a) |
46,296 | 1,102,771 | ||||||
Veritiv Corp.(a) |
3,541 | 317,132 | ||||||
Watsco Inc. |
8,575 | 2,269,117 | ||||||
WESCO International Inc.(a) |
11,717 | 1,351,204 | ||||||
WW Grainger Inc. |
12,111 | 4,760,350 | ||||||
|
|
|||||||
37,586,313 | ||||||||
Water Utilities — 0.1% | ||||||||
American States Water Co. |
10,263 | 877,692 | ||||||
American Water Works Co. Inc. |
47,932 | 8,102,425 | ||||||
California Water Service Group |
13,393 | 789,250 | ||||||
Essential Utilities Inc. |
58,750 | 2,707,200 | ||||||
Middlesex Water Co. |
5,085 | 522,636 | ||||||
Pure Cycle Corp.(a) |
8,657 | 115,225 | ||||||
SJW Group |
7,718 | 509,851 | ||||||
York Water Co. (The) |
3,319 | 144,974 | ||||||
|
|
|||||||
13,769,253 | ||||||||
Wireless Telecommunication Services — 0.2% | ||||||||
Gogo Inc.(a) |
13,728 | 237,494 | ||||||
Shenandoah Telecommunications Co. |
13,393 | 422,951 | ||||||
T-Mobile U.S. Inc.(a) |
155,589 | 19,878,051 | ||||||
Telephone and Data Systems Inc. |
27,753 | 541,183 | ||||||
U.S. Cellular Corp.(a) |
3,549 | 113,178 | ||||||
|
|
|||||||
21,192,857 | ||||||||
|
|
|||||||
Total
Common Stocks — 99.8% |
11,637,262,701 | |||||||
|
|
|||||||
Warrants |
||||||||
Oil, Gas & Consumable Fuels — 0.0% | ||||||||
Whiting
Petroleum Corp., |
409 | 2,924 |
60 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
Security |
Shares/ Par |
Value | ||||||
|
||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Whiting Petroleum Corp., (Expires 09/01/25)(a) |
204 | $ | 1,473 | |||||
|
|
|||||||
4,397 | ||||||||
|
|
|||||||
Total
Warrants — 0.0% |
4,397 | |||||||
|
|
|||||||
Corporate Bonds & Notes |
| |||||||
Capital Markets — 0.0% |
| |||||||
GAMCO Investors Inc., 4.00%, 06/15/23(g) |
6,000 | 5,971 | ||||||
|
|
|||||||
Total
Corporate Bonds & Notes — 0.0% |
|
5,971 | ||||||
|
|
|||||||
Short-Term Investments |
| |||||||
Money Market Funds — 1.7% |
| |||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.05%(d)(h)(i) |
182,729,625 | 182,820,990 | ||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(h) |
17,895,000 | 17,895,000 | ||||||
|
|
|||||||
200,715,990 | ||||||||
|
|
|||||||
Total
Short-Term Investments — 1.7% |
|
200,715,990 | ||||||
|
|
|||||||
Total
Investments in Securities — 101.5% |
|
11,837,989,059 | ||||||
Other Assets, Less Liabilities — (1.5)% |
|
(176,117,444 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 11,661,871,615 | |||||
|
|
(a) |
Non-income producing security. |
(b) |
All or a portion of this security is on loan. |
(c) |
Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) |
Affiliate of the Fund. |
(e) |
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(f) |
Rounds to less than $1. |
(g) |
Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
(h) |
Annualized 7-day yield as of period end. |
(i) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer |
Value at 03/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 09/30/21 |
Shares Held at 09/30/21 |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 126,273,904 | $ | 56,567,517 | (a) | $ | — | $ | 7,625 | $ | (28,056) | $ | 182,820,990 | 182,729,625 | $ | 371,187 | (b) | $ | — | |||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
14,515,000 | 3,380,000 | (a) | — | — | — | 17,895,000 | 17,895,000 | 752 | — | ||||||||||||||||||||||||||
BlackRock Inc. |
30,134,273 | 1,255,832 | (3,160,087 | ) | 1,330,448 | 2,128,302 | 31,688,768 | 37,785 | 324,147 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | 1,338,073 | $ | 2,100,246 | $ | 232,404,758 | $ | 696,086 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 O F I N V E S T M E N T S |
61 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
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 |
||||||||||||||||
Russell 2000 E-Mini Index |
27 | 12/17/21 | $ | 2,971 | $ | (52,118 | ) | |||||||||
S&P 500 E-Mini Index |
92 | 12/17/21 | 19,770 | (751,615 | ) | |||||||||||
|
|
|||||||||||||||
$ | (803,733 | ) | ||||||||||||||
|
|
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
||||
Equity Contracts |
||||
|
||||
Liabilities — Derivative Financial Instruments |
||||
Futures contracts |
||||
Unrealized depreciation on futures contracts(a) |
$ | 803,733 | ||
|
|
(a) |
Net cumulative appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
||||
Equity Contracts |
||||
|
||||
Net Realized Gain (Loss) from: |
||||
Futures contracts |
$ | 2,948,308 | ||
|
|
|||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
Futures contracts |
$ | (833,344 | ) | |
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 20,240,725 |
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.
62 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
IShares® Russell 3000 ETF |
Fair Value Hierarchy as of Period End (continued)
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 11,637,249,863 | $ | — | $ | 12,838 | $ | 11,637,262,701 | ||||||||
Warrants |
4,397 | — | — | 4,397 | ||||||||||||
Corporate Bonds & Notes |
— | 5,971 | — | 5,971 | ||||||||||||
Money Market Funds |
200,715,990 | — | — | 200,715,990 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 11,837,970,250 | $ | 5,971 | $ | 12,838 | $ | 11,837,989,059 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative financial instruments(a) |
||||||||||||||||
Liabilities |
||||||||||||||||
Futures Contracts |
$ | (803,733 | ) | $ | — | $ | — | $ | (803,733 | ) | ||||||
|
|
|
|
|
|
|
|
(a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
S C H E D U L E O F I N V E S T M E N T S |
63 |
Schedule of Investments (unaudited) September 30, 2021 |
iShares® Russell Mid-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Aerospace & Defense — 1.1% | ||||||||
Axon Enterprise Inc.(a) |
170,151 | $ | 29,779,828 | |||||
BWX Technologies Inc. |
248,234 | 13,369,883 | ||||||
Curtiss-Wright Corp. |
106,456 | 13,432,618 | ||||||
HEICO Corp.(b) |
117,051 | 15,435,515 | ||||||
HEICO Corp., Class A(b) |
205,212 | 24,303,257 | ||||||
Hexcel Corp.(a) |
218,327 | 12,966,441 | ||||||
Howmet Aerospace Inc. |
1,022,284 | 31,895,261 | ||||||
Huntington Ingalls Industries Inc. |
102,823 | 19,851,008 | ||||||
Mercury Systems Inc.(a) |
144,105 | 6,833,459 | ||||||
Spirit AeroSystems Holdings Inc., Class A |
273,579 | 12,089,456 | ||||||
Textron Inc. |
598,484 | 41,780,168 | ||||||
TransDigm Group Inc.(a) |
136,005 | 84,944,643 | ||||||
Virgin Galactic Holdings Inc.(a)(b) |
472,633 | 11,957,615 | ||||||
|
|
|||||||
318,639,152 | ||||||||
Air Freight & Logistics — 0.4% | ||||||||
CH Robinson Worldwide Inc. |
351,109 | 30,546,483 | ||||||
Expeditors International of Washington Inc. |
444,400 | 52,941,372 | ||||||
GXO Logistics Inc.(a) |
254,075 | 19,929,643 | ||||||
|
|
|||||||
103,417,498 | ||||||||
Airlines — 0.9% | ||||||||
Alaska Air Group Inc.(a) |
319,026 | 18,694,924 | ||||||
American Airlines Group Inc.(a) |
1,669,380 | 34,255,678 | ||||||
Copa Holdings SA, Class A, NVS(a) |
80,917 | 6,585,025 | ||||||
Delta Air Lines Inc.(a) |
1,683,355 | 71,727,757 | ||||||
JetBlue Airways Corp.(a) |
827,021 | 12,645,151 | ||||||
Southwest Airlines Co.(a) |
1,554,939 | 79,970,513 | ||||||
United Airlines Holdings Inc.(a)(b) |
857,878 | 40,809,256 | ||||||
|
|
|||||||
264,688,304 | ||||||||
Auto Components — 0.7% | ||||||||
Aptiv PLC(a) |
713,022 | 106,218,887 | ||||||
BorgWarner Inc. |
638,490 | 27,589,153 | ||||||
Gentex Corp. |
631,397 | 20,823,473 | ||||||
Lear Corp. |
160,306 | 25,084,683 | ||||||
QuantumScape Corp.(a)(b) |
544,362 | 13,358,644 | ||||||
|
|
|||||||
193,074,840 | ||||||||
Automobiles — 0.1% | ||||||||
Harley-Davidson Inc. |
400,091 | 14,647,332 | ||||||
Thor Industries Inc.(b) |
139,057 | 17,070,637 | ||||||
|
|
|||||||
31,717,969 | ||||||||
Banks — 3.3% | ||||||||
Bank of Hawaii Corp. |
103,591 | 8,512,072 | ||||||
Bank OZK |
321,050 | 13,798,729 | ||||||
BOK Financial Corp. |
79,829 | 7,148,687 | ||||||
Citizens Financial Group Inc. |
1,123,321 | 52,773,621 | ||||||
Comerica Inc. |
353,532 | 28,459,326 | ||||||
Commerce Bancshares Inc. |
277,504 | 19,336,479 | ||||||
Cullen/Frost Bankers Inc. |
149,124 | 17,689,089 | ||||||
East West Bancorp. Inc. |
369,114 | 28,621,099 | ||||||
Fifth Third Bancorp |
1,819,221 | 77,207,739 | ||||||
First Citizens BancShares Inc./NC, Class A(b) |
15,791 | 13,314,497 | ||||||
First Hawaiian Inc. |
340,038 | 9,980,115 | ||||||
First Horizon Corp. |
1,428,155 | 23,264,645 | ||||||
First Republic Bank/CA |
470,601 | 90,769,521 | ||||||
FNB Corp. |
831,875 | 9,666,387 | ||||||
Huntington Bancshares Inc./OH |
3,872,150 | 59,863,439 | ||||||
KeyCorp |
2,518,669 | 54,453,624 | ||||||
M&T Bank Corp. |
339,293 | 50,670,017 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
PacWest Bancorp |
307,900 | $ | 13,954,028 | |||||
People’s United Financial Inc. |
1,110,774 | 19,405,222 | ||||||
Pinnacle Financial Partners Inc. |
193,949 | 18,246,722 | ||||||
Popular Inc. |
208,288 | 16,177,729 | ||||||
Prosperity Bancshares Inc. |
233,524 | 16,610,562 | ||||||
Regions Financial Corp. |
2,542,052 | 54,171,128 | ||||||
Signature Bank/New York NY |
156,740 | 42,677,167 | ||||||
Sterling Bancorp./DE |
499,155 | 12,458,909 | ||||||
SVB Financial Group(a) |
149,547 | 96,738,963 | ||||||
Synovus Financial Corp. |
384,918 | 16,894,051 | ||||||
Umpqua Holdings Corp. |
574,575 | 11,635,144 | ||||||
Webster Financial Corp. |
235,138 | 12,805,615 | ||||||
Western Alliance Bancorp |
263,702 | 28,696,052 | ||||||
Wintrust Financial Corp. |
152,907 | 12,289,136 | ||||||
Zions Bancorp. NA |
421,729 | 26,100,808 | ||||||
|
|
|||||||
964,390,322 | ||||||||
Beverages — 0.3% | ||||||||
Boston Beer Co. Inc. (The), Class A, NVS(a) |
24,710 | 12,595,922 | ||||||
Brown-Forman Corp., Class A |
118,042 | 7,397,692 | ||||||
Brown-Forman Corp., Class B, NVS |
478,598 | 32,070,852 | ||||||
Molson Coors Beverage Co., Class B |
477,752 | 22,158,138 | ||||||
|
|
|||||||
74,222,604 | ||||||||
Biotechnology — 1.8% | ||||||||
Acceleron Pharma Inc.(a)(b) |
140,347 | 24,153,719 | ||||||
Alnylam Pharmaceuticals Inc.(a)(b) |
313,326 | 59,159,082 | ||||||
BioMarin Pharmaceutical Inc.(a)(b) |
483,874 | 37,398,622 | ||||||
CureVac NV(a)(b) |
138,785 | 7,580,437 | ||||||
Exact Sciences Corp.(a)(b) |
450,735 | 43,022,656 | ||||||
Exelixis Inc.(a) |
808,751 | 17,096,996 | ||||||
Horizon Therapeutics PLC(a) |
572,836 | 62,748,455 | ||||||
Incyte Corp.(a) |
490,063 | 33,706,533 | ||||||
Ionis Pharmaceuticals Inc.(a)(b) |
364,897 | 12,238,645 | ||||||
Iovance Biotherapeutics Inc.(a)(b) |
381,867 | 9,416,840 | ||||||
Mirati Therapeutics Inc.(a) |
102,531 | 18,138,759 | ||||||
Natera Inc.(a)(b) |
217,557 | 24,244,552 | ||||||
Neurocrine Biosciences Inc.(a) |
244,159 | 23,417,290 | ||||||
Novavax Inc.(a)(b) |
195,694 | 40,569,323 | ||||||
Sage Therapeutics Inc.(a)(b) |
133,074 | 5,896,509 | ||||||
Sarepta Therapeutics Inc.(a)(b) |
199,369 | 18,437,645 | ||||||
Seagen Inc.(a) |
351,924 | 59,756,695 | ||||||
Ultragenyx Pharmaceutical Inc.(a) |
168,363 | 15,184,659 | ||||||
United Therapeutics Corp.(a) |
115,269 | 21,276,352 | ||||||
|
|
|||||||
533,443,769 | ||||||||
Building Products — 1.8% | ||||||||
A O Smith Corp. |
345,174 | 21,079,776 | ||||||
Advanced Drainage Systems Inc. |
159,811 | 17,286,756 | ||||||
Allegion PLC |
238,780 | 31,561,941 | ||||||
Armstrong World Industries Inc. |
124,205 | 11,857,851 | ||||||
AZEK Co. Inc. (The)(a)(b) |
294,859 | 10,771,199 | ||||||
Builders FirstSource Inc.(a)(b) |
535,859 | 27,725,345 | ||||||
Carlisle Companies Inc. |
134,295 | 26,696,503 | ||||||
Carrier Global Corp. |
2,286,053 | 118,326,103 | ||||||
Fortune Brands Home & Security Inc. |
367,083 | 32,824,562 | ||||||
Lennox International Inc. |
87,671 | 25,790,178 | ||||||
Masco Corp. |
650,939 | 36,159,662 | ||||||
Owens Corning |
271,732 | 23,233,086 | ||||||
Trane Technologies PLC |
630,457 | 108,848,401 | ||||||
Trex Co. Inc.(a)(b) |
302,738 | 30,858,084 | ||||||
|
|
|||||||
523,019,447 |
64 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Capital Markets — 3.8% | ||||||||
Affiliated Managers Group Inc. |
108,365 | $ | 16,372,868 | |||||
Ameriprise Financial Inc. |
300,437 | 79,351,420 | ||||||
Apollo Global Management Inc. |
476,564 | 29,351,577 | ||||||
Ares Management Corp., Class A |
359,918 | 26,572,746 | ||||||
Carlyle Group Inc. (The) |
424,709 | 20,080,241 | ||||||
Cboe Global Markets Inc. |
278,023 | 34,435,929 | ||||||
Evercore Inc., Class A |
100,135 | 13,385,045 | ||||||
FactSet Research Systems Inc. |
99,682 | 39,352,460 | ||||||
Franklin Resources Inc. |
758,511 | 22,542,947 | ||||||
Interactive Brokers Group Inc., Class A |
211,465 | 13,182,728 | ||||||
Invesco Ltd. |
872,040 | 21,024,884 | ||||||
Janus Henderson Group PLC |
412,060 | 17,030,440 | ||||||
Jefferies Financial Group Inc. |
571,921 | 21,235,427 | ||||||
KKR & Co. Inc. |
1,470,168 | 89,503,828 | ||||||
Lazard Ltd., Class A |
266,102 | 12,187,472 | ||||||
LPL Financial Holdings Inc. |
208,276 | 32,649,346 | ||||||
MarketAxess Holdings Inc. |
97,909 | 41,189,337 | ||||||
Morningstar Inc. |
61,644 | 15,967,645 | ||||||
MSCI Inc. |
211,018 | 128,370,690 | ||||||
Nasdaq Inc. |
307,441 | 59,342,262 | ||||||
Northern Trust Corp. |
542,972 | 58,537,811 | ||||||
Raymond James Financial Inc. |
489,396 | 45,161,463 | ||||||
SEI Investments Co. |
285,773 | 16,946,339 | ||||||
State Street Corp. |
964,773 | 81,735,569 | ||||||
Stifel Financial Corp. |
268,206 | 18,227,280 | ||||||
T Rowe Price Group Inc. |
592,355 | 116,516,228 | ||||||
Tradeweb Markets Inc., Class A(b) |
273,847 | 22,121,361 | ||||||
Virtu Financial Inc., Class A |
243,804 | 5,956,132 | ||||||
|
|
|||||||
1,098,331,475 | ||||||||
Chemicals — 2.5% | ||||||||
Albemarle Corp. |
304,688 | 66,717,531 | ||||||
Ashland Global Holdings Inc. |
143,554 | 12,793,533 | ||||||
Axalta Coating Systems Ltd.(a) |
545,607 | 15,926,268 | ||||||
Celanese Corp. |
293,678 | 44,239,654 | ||||||
CF Industries Holdings Inc. |
559,365 | 31,223,754 | ||||||
Chemours Co. (The) |
430,014 | 12,496,207 | ||||||
Corteva Inc. |
1,942,521 | 81,741,284 | ||||||
Diversey Holdings Ltd.(a)(b) |
133,991 | 2,149,216 | ||||||
Eastman Chemical Co. |
360,169 | 36,283,425 | ||||||
Element Solutions Inc. |
607,713 | 13,175,218 | ||||||
FMC Corp. |
342,202 | 31,332,015 | ||||||
Huntsman Corp. |
560,914 | 16,597,445 | ||||||
International Flavors & Fragrances Inc. |
654,541 | 87,525,223 | ||||||
LyondellBasell Industries NV, Class A |
692,384 | 64,980,238 | ||||||
Mosaic Co. (The) |
904,513 | 32,309,204 | ||||||
NewMarket Corp. |
17,510 | 5,931,863 | ||||||
Olin Corp. |
375,211 | 18,103,931 | ||||||
PPG Industries Inc. |
625,504 | 89,453,327 | ||||||
RPM International Inc. |
340,044 | 26,404,417 | ||||||
Scotts Miracle-Gro Co. (The) |
107,286 | 15,702,379 | ||||||
Valvoline Inc. |
473,151 | 14,752,848 | ||||||
Westlake Chemical Corp. |
86,603 | 7,892,997 | ||||||
|
|
|||||||
727,731,977 | ||||||||
Commercial Services & Supplies — 1.1% | ||||||||
ADT Inc. |
431,488 | 3,490,738 | ||||||
Cintas Corp. |
230,831 | 87,868,128 | ||||||
Clean Harbors Inc.(a) |
132,290 | 13,740,962 | ||||||
Copart Inc.(a) |
551,032 | 76,439,159 | ||||||
Driven Brands Holdings Inc.(a) |
148,843 | 4,300,074 |
Security | Shares | Value | ||||||
Commercial Services & Supplies (continued) | ||||||||
IAA Inc.(a) |
352,577 | $ | 19,240,127 | |||||
MSA Safety Inc. |
95,775 | 13,954,418 | ||||||
Republic Services Inc. |
554,739 | 66,601,964 | ||||||
Rollins Inc. |
591,708 | 20,905,044 | ||||||
Stericycle Inc.(a)(b) |
239,035 | 16,247,209 | ||||||
|
|
|||||||
322,787,823 | ||||||||
Communications Equipment — 0.9% | ||||||||
Arista Networks Inc.(a)(b) |
159,016 | 54,644,258 | ||||||
Ciena Corp.(a) |
402,251 | 20,655,589 | ||||||
CommScope Holding Co. Inc.(a)(b) |
531,920 | 7,228,793 | ||||||
F5 Networks Inc.(a) |
158,702 | 31,546,784 | ||||||
Juniper Networks Inc. |
847,415 | 23,320,861 | ||||||
Lumentum Holdings Inc.(a)(b) |
197,623 | 16,509,425 | ||||||
Motorola Solutions Inc. |
437,297 | 101,592,839 | ||||||
Ubiquiti Inc. |
17,157 | 5,124,281 | ||||||
Viasat Inc.(a) |
183,740 | 10,118,562 | ||||||
|
|
|||||||
270,741,392 | ||||||||
Construction & Engineering — 0.3% | ||||||||
AECOM(a) |
360,174 | 22,744,988 | ||||||
MasTec Inc.(a) |
146,649 | 12,652,876 | ||||||
Quanta Services Inc. |
363,043 | 41,321,554 | ||||||
Valmont Industries Inc. |
54,508 | 12,815,921 | ||||||
|
|
|||||||
89,535,339 | ||||||||
Construction Materials — 0.5% | ||||||||
Eagle Materials Inc. |
107,466 | 14,095,241 | ||||||
Martin Marietta Materials Inc. |
164,096 | 56,068,321 | ||||||
Vulcan Materials Co. |
348,911 | 59,021,785 | ||||||
|
|
|||||||
129,185,347 | ||||||||
Consumer Finance — 1.1% | ||||||||
Ally Financial Inc. |
951,879 | 48,593,423 | ||||||
Credit Acceptance Corp.(a)(b) |
23,048 | 13,489,994 | ||||||
Discover Financial Services |
790,837 | 97,154,326 | ||||||
OneMain Holdings Inc. |
274,317 | 15,177,960 | ||||||
Santander Consumer USA Holdings Inc. |
157,477 | 6,566,791 | ||||||
SLM Corp. |
805,090 | 14,169,584 | ||||||
Synchrony Financial |
1,501,849 | 73,410,379 | ||||||
Upstart Holdings Inc.(a) |
119,469 | 37,804,770 | ||||||
|
|
|||||||
306,367,227 | ||||||||
Containers & Packaging — 1.5% | ||||||||
Amcor PLC |
4,027,120 | 46,674,321 | ||||||
AptarGroup Inc. |
175,700 | 20,969,795 | ||||||
Ardagh Group SA |
58,648 | 1,494,937 | ||||||
Avery Dennison Corp. |
216,317 | 44,823,046 | ||||||
Ball Corp. |
847,246 | 76,226,723 | ||||||
Berry Global Group Inc.(a)(b) |
352,768 | 21,476,516 | ||||||
Crown Holdings Inc. |
333,687 | 33,628,976 | ||||||
Graphic Packaging Holding Co. |
746,851 | 14,220,043 | ||||||
International Paper Co. |
1,032,362 | 57,729,683 | ||||||
Packaging Corp. of America |
244,993 | 33,671,838 | ||||||
Sealed Air Corp. |
395,547 | 21,672,020 | ||||||
Silgan Holdings Inc. |
220,229 | 8,447,984 | ||||||
Sonoco Products Co. |
262,221 | 15,623,127 | ||||||
Westrock Co. |
692,128 | 34,488,738 | ||||||
|
|
|||||||
431,147,747 | ||||||||
Distributors — 0.4% | ||||||||
Genuine Parts Co. |
373,789 | 45,314,440 | ||||||
LKQ Corp.(a)(b) |
718,613 | 36,160,606 |
S C H E D U L E O F I N V E S T M E N T S |
65 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Distributors (continued) | ||||||||
Pool Corp. |
102,987 | $ | 44,738,583 | |||||
|
|
|||||||
126,213,629 | ||||||||
Diversified Consumer Services — 0.4% | ||||||||
Bright Horizons Family Solutions Inc.(a)(b) |
162,429 | 22,645,851 | ||||||
Chegg Inc.(a)(b) |
373,049 | 25,374,793 | ||||||
frontdoor Inc.(a) |
224,097 | 9,389,664 | ||||||
Grand Canyon Education Inc.(a) |
119,831 | 10,540,335 | ||||||
H&R Block Inc. |
474,549 | 11,863,725 | ||||||
Mister Car Wash Inc.(a) |
108,930 | 1,987,972 | ||||||
Service Corp. International |
427,833 | 25,781,217 | ||||||
Terminix Global Holdings Inc.(a) |
336,104 | 14,005,454 | ||||||
|
|
|||||||
121,589,011 | ||||||||
Diversified Financial Services — 0.2% | ||||||||
Equitable Holdings Inc. |
975,385 | 28,910,412 | ||||||
Voya Financial Inc. |
297,647 | 18,272,549 | ||||||
|
|
|||||||
47,182,961 | ||||||||
Diversified Telecommunication Services — 0.1% | ||||||||
Lumen Technologies Inc. |
2,921,831 | 36,201,486 | ||||||
|
|
|||||||
Electric Utilities — 2.0% | ||||||||
Alliant Energy Corp. |
663,667 | 37,152,079 | ||||||
Avangrid Inc. |
147,514 | 7,169,180 | ||||||
Edison International |
984,955 | 54,635,454 | ||||||
Entergy Corp. |
524,133 | 52,051,648 | ||||||
Evergy Inc. |
606,510 | 37,724,922 | ||||||
Eversource Energy |
904,172 | 73,925,103 | ||||||
FirstEnergy Corp. |
1,437,559 | 51,205,851 | ||||||
Hawaiian Electric Industries Inc. |
275,414 | 11,245,154 | ||||||
IDACORP Inc. |
131,491 | 13,593,540 | ||||||
NRG Energy Inc. |
636,566 | 25,990,990 | ||||||
OGE Energy Corp. |
521,308 | 17,182,312 | ||||||
PG&E Corp.(a)(b) |
3,948,867 | 37,909,123 | ||||||
Pinnacle West Capital Corp. |
301,176 | 21,793,095 | ||||||
PPL Corp. |
2,035,576 | 56,751,859 | ||||||
Xcel Energy Inc. |
1,415,241 | 88,452,562 | ||||||
|
|
|||||||
586,782,872 | ||||||||
Electrical Equipment — 1.4% | ||||||||
Acuity Brands Inc. |
92,536 | 16,042,966 | ||||||
AMETEK Inc. |
606,719 | 75,239,223 | ||||||
ChargePoint Holdings Inc.(a)(b) |
276,353 | 5,524,297 | ||||||
Generac Holdings Inc.(a) |
161,799 | 66,122,397 | ||||||
Hubbell Inc. |
144,511 | 26,108,802 | ||||||
nVent Electric PLC |
435,007 | 14,063,776 | ||||||
Plug Power Inc.(a)(b) |
1,354,122 | 34,584,276 | ||||||
Regal Beloit Corp. |
105,819 | 15,908,829 | ||||||
Rockwell Automation Inc. |
306,668 | 90,172,659 | ||||||
Sensata Technologies Holding PLC(a)(b) |
406,135 | 22,223,707 | ||||||
Shoals Technologies Group Inc., Class A(a)(b) |
268,218 | 7,477,918 | ||||||
Sunrun Inc.(a)(b) |
532,839 | 23,444,916 | ||||||
Vertiv Holdings Co. |
730,641 | 17,601,142 | ||||||
|
|
|||||||
414,514,908 | ||||||||
Electronic Equipment, Instruments & Components — 2.4% | ||||||||
Amphenol Corp., Class A |
1,535,490 | 112,443,933 | ||||||
Arrow Electronics Inc.(a) |
188,706 | 21,189,797 | ||||||
Avnet Inc. |
259,133 | 9,580,147 | ||||||
CDW Corp./DE |
362,641 | 66,007,915 | ||||||
Cognex Corp. |
453,735 | 36,398,622 | ||||||
Coherent Inc.(a) |
63,822 | 15,961,244 | ||||||
Corning Inc. |
2,002,066 | 73,055,388 |
Security | Shares | Value | ||||||
Electronic Equipment, Instruments & Components (continued) | ||||||||
IPG Photonics Corp.(a)(b) |
94,554 | $ | 14,977,354 | |||||
Jabil Inc. |
375,329 | 21,907,954 | ||||||
Keysight Technologies Inc.(a) |
488,528 | 80,260,265 | ||||||
Littelfuse Inc. |
62,575 | 17,099,870 | ||||||
National Instruments Corp. |
357,209 | 14,013,309 | ||||||
SYNNEX Corp. |
108,723 | 11,318,064 | ||||||
Teledyne Technologies Inc.(a) |
120,528 | 51,776,418 | ||||||
Trimble Inc.(a) |
661,590 | 54,415,778 | ||||||
Vontier Corp. |
444,489 | 14,934,830 | ||||||
Zebra Technologies Corp., Class A(a) |
140,303 | 72,314,972 | ||||||
|
|
|||||||
687,655,860 | ||||||||
Energy Equipment & Services — 0.4% | ||||||||
Baker Hughes Co. |
1,930,113 | 47,731,694 | ||||||
Halliburton Co. |
2,342,156 | 50,637,413 | ||||||
NOV Inc.(a) |
1,017,935 | 13,345,128 | ||||||
|
|
|||||||
111,714,235 | ||||||||
Entertainment — 1.2% | ||||||||
Liberty Media Corp.-Liberty Formula One, Class A(a)(b) |
67,416 | 3,171,923 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C, NVS(a)(b) |
518,099 | 26,635,470 | ||||||
Live Nation Entertainment Inc.(a)(b) |
351,460 | 32,028,550 | ||||||
Madison Square Garden Sports Corp.(a)(b) |
49,190 | 9,146,880 | ||||||
Playtika Holding Corp.(a)(b) |
274,656 | 7,588,745 | ||||||
Roku Inc.(a) |
306,196 | 95,946,517 | ||||||
Skillz Inc.(a)(b) |
769,408 | 7,555,586 | ||||||
Spotify Technology SA(a)(b) |
359,204 | 80,943,029 | ||||||
Take-Two Interactive Software Inc.(a) |
305,599 | 47,083,638 | ||||||
World Wrestling Entertainment Inc., Class A |
116,215 | 6,538,256 | ||||||
Zynga Inc., Class A(a)(b) |
2,664,571 | 20,064,220 | ||||||
|
|
|||||||
336,702,814 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 7.1% | ||||||||
Alexandria Real Estate Equities Inc. |
404,702 | 77,326,411 | ||||||
American Campus Communities Inc. |
357,919 | 17,341,176 | ||||||
American Homes 4 Rent, Class A |
740,297 | 28,220,122 | ||||||
Americold Realty Trust |
690,906 | 20,070,819 | ||||||
Apartment Income REIT Corp. |
410,372 | 20,030,257 | ||||||
AvalonBay Communities Inc. |
366,988 | 81,339,220 | ||||||
Boston Properties Inc. |
413,085 | 44,757,760 | ||||||
Brixmor Property Group Inc. |
773,569 | 17,103,611 | ||||||
Camden Property Trust |
257,042 | 37,905,984 | ||||||
CoreSite Realty Corp. |
116,687 | 16,165,817 | ||||||
Cousins Properties Inc. |
387,268 | 14,441,224 | ||||||
CubeSmart |
525,113 | 25,441,725 | ||||||
CyrusOne Inc. |
327,758 | 25,371,747 | ||||||
Douglas Emmett Inc. |
434,571 | 13,736,789 | ||||||
Duke Realty Corp. |
989,537 | 47,369,136 | ||||||
EPR Properties |
193,333 | 9,546,784 | ||||||
Equity LifeStyle Properties Inc. |
461,243 | 36,023,078 | ||||||
Equity Residential |
970,858 | 78,561,829 | ||||||
Essex Property Trust Inc. |
171,312 | 54,775,299 | ||||||
Extra Space Storage Inc. |
346,353 | 58,183,840 | ||||||
Federal Realty Investment Trust |
201,667 | 23,794,689 | ||||||
First Industrial Realty Trust Inc. |
336,294 | 17,514,191 | ||||||
Gaming and Leisure Properties Inc. |
576,077 | 26,683,887 | ||||||
Healthcare Trust of America Inc., Class A |
568,480 | 16,861,117 | ||||||
Healthpeak Properties Inc. |
1,425,113 | 47,712,783 | ||||||
Highwoods Properties Inc. |
268,479 | 11,775,489 | ||||||
Host Hotels & Resorts Inc.(a) |
1,863,908 | 30,437,618 |
66 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
Hudson Pacific Properties Inc. |
383,972 | $ | 10,086,944 | |||||
Invitation Homes Inc. |
1,523,488 | 58,395,295 | ||||||
Iron Mountain Inc. |
748,676 | 32,529,972 | ||||||
JBG SMITH Properties |
323,543 | 9,580,108 | ||||||
Kilroy Realty Corp. |
303,313 | 20,082,354 | ||||||
Kimco Realty Corp. |
1,518,614 | 31,511,240 | ||||||
Lamar Advertising Co., Class A |
225,361 | 25,567,205 | ||||||
Life Storage Inc. |
207,619 | 23,822,204 | ||||||
Medical Properties Trust Inc. |
1,543,311 | 30,974,252 | ||||||
Mid-America Apartment Communities Inc. |
304,850 | 56,930,737 | ||||||
National Retail Properties Inc. |
456,173 | 19,702,112 | ||||||
Omega Healthcare Investors Inc. |
632,329 | 18,944,577 | ||||||
Park Hotels & Resorts Inc.(a) |
613,339 | 11,739,308 | ||||||
Rayonier Inc. |
365,839 | 13,053,136 | ||||||
Realty Income Corp. |
1,029,595 | 66,779,532 | ||||||
Regency Centers Corp. |
441,672 | 29,737,776 | ||||||
Rexford Industrial Realty Inc. |
360,778 | 20,474,151 | ||||||
SBA Communications Corp. |
284,996 | 94,211,128 | ||||||
Simon Property Group Inc. |
857,459 | 111,443,946 | ||||||
SL Green Realty Corp. |
174,495 | 12,361,226 | ||||||
Spirit Realty Capital Inc. |
313,718 | 14,443,577 | ||||||
STORE Capital Corp. |
638,019 | 20,435,749 | ||||||
Sun Communities Inc. |
302,716 | 56,032,732 | ||||||
UDR Inc. |
782,513 | 41,457,539 | ||||||
Ventas Inc. |
1,037,692 | 57,290,975 | ||||||
VEREIT Inc. |
605,094 | 27,368,402 | ||||||
VICI Properties Inc. |
1,551,646 | 44,082,263 | ||||||
Vornado Realty Trust |
458,340 | 19,254,863 | ||||||
Welltower Inc. |
1,117,254 | 92,061,730 | ||||||
Weyerhaeuser Co. |
1,975,770 | 70,278,139 | ||||||
WP Carey Inc. |
482,807 | 35,264,223 | ||||||
|
|
|||||||
2,074,389,797 | ||||||||
Food & Staples Retailing — 0.5% | ||||||||
Albertsons Companies Inc., Class A |
402,455 | 12,528,424 | ||||||
Casey’s General Stores Inc. |
96,194 | 18,127,759 | ||||||
Grocery Outlet Holding Corp.(a) |
228,253 | 4,923,417 | ||||||
Kroger Co. (The) |
1,968,693 | 79,594,258 | ||||||
U.S. Foods Holding Corp.(a) |
576,913 | 19,995,805 | ||||||
|
|
|||||||
135,169,663 | ||||||||
Food Products — 2.1% | ||||||||
Archer-Daniels-Midland Co. |
1,464,957 | 87,912,070 | ||||||
Beyond Meat Inc.(a)(b) |
149,759 | 15,763,632 | ||||||
Bunge Ltd. |
359,352 | 29,222,505 | ||||||
Campbell Soup Co. |
522,262 | 21,835,774 | ||||||
Conagra Brands Inc. |
1,240,424 | 42,013,161 | ||||||
Darling Ingredients Inc.(a) |
423,285 | 30,434,191 | ||||||
Flowers Foods Inc. |
489,738 | 11,572,509 | ||||||
Freshpet Inc.(a)(b) |
106,645 | 15,217,175 | ||||||
Hain Celestial Group Inc. (The)(a)(b) |
228,900 | 9,792,342 | ||||||
Hershey Co. (The) |
385,873 | 65,309,005 | ||||||
Hormel Foods Corp. |
750,934 | 30,788,294 | ||||||
Ingredion Inc. |
175,156 | 15,590,636 | ||||||
JM Smucker Co. (The) |
276,525 | 33,191,296 | ||||||
Kellogg Co. |
666,660 | 42,612,907 | ||||||
Lamb Weston Holdings Inc. |
389,113 | 23,879,865 | ||||||
McCormick & Co. Inc./MD, NVS |
658,828 | 53,384,833 | ||||||
Pilgrim’s Pride Corp.(a) |
124,181 | 3,611,183 | ||||||
Post Holdings Inc.(a)(b) |
154,164 | 16,982,706 | ||||||
Seaboard Corp. |
725 | 2,972,493 |
Security | Shares | Value | ||||||
Food Products (continued) | ||||||||
Tyson Foods Inc., Class A |
758,751 | $ | 59,895,804 | |||||
|
|
|||||||
611,982,381 | ||||||||
Gas Utilities — 0.2% | ||||||||
Atmos Energy Corp. |
343,784 | 30,321,749 | ||||||
National Fuel Gas Co. |
227,957 | 11,972,301 | ||||||
UGI Corp. |
555,998 | 23,696,635 | ||||||
|
|
|||||||
65,990,685 | ||||||||
Health Care Equipment & Supplies — 3.7% | ||||||||
ABIOMED Inc.(a) |
115,918 | 37,733,627 | ||||||
Cooper Companies Inc. (The) |
126,631 | 52,337,859 | ||||||
DENTSPLY SIRONA Inc. |
577,197 | 33,506,286 | ||||||
Dexcom Inc.(a)(b) |
253,871 | 138,831,895 | ||||||
Envista Holdings Corp.(a) |
419,921 | 17,556,897 | ||||||
Figs Inc., Class A(a)(b) |
99,904 | 3,710,434 | ||||||
Globus Medical Inc., Class A(a) |
207,258 | 15,880,108 | ||||||
Hill-Rom Holdings Inc. |
174,434 | 26,165,100 | ||||||
Hologic Inc.(a) |
662,931 | 48,930,937 | ||||||
ICU Medical Inc.(a) |
51,592 | 12,040,541 | ||||||
IDEXX Laboratories Inc.(a) |
222,692 | 138,492,155 | ||||||
Insulet Corp.(a) |
174,830 | 49,691,931 | ||||||
Integra LifeSciences Holdings Corp.(a)(b) |
188,872 | 12,933,954 | ||||||
Masimo Corp.(a) |
130,759 | 35,397,769 | ||||||
Novocure Ltd.(a) |
270,155 | 31,383,906 | ||||||
Penumbra Inc.(a) |
88,392 | 23,556,468 | ||||||
Quidel Corp.(a)(b) |
98,186 | 13,858,954 | ||||||
ResMed Inc. |
378,715 | 99,810,338 | ||||||
STERIS PLC |
225,303 | 46,024,897 | ||||||
Tandem Diabetes Care Inc.(a)(b) |
159,623 | 19,055,794 | ||||||
Teleflex Inc. |
122,592 | 46,162,018 | ||||||
West Pharmaceutical Services Inc. |
193,759 | 82,258,446 | ||||||
Zimmer Biomet Holdings Inc. |
548,988 | 80,349,884 | ||||||
|
|
|||||||
1,065,670,198 | ||||||||
Health Care Providers & Services — 1.8% | ||||||||
Acadia Healthcare Co. Inc.(a) |
231,051 | 14,736,433 | ||||||
agilon health Inc.(a)(b) |
179,972 | 4,717,066 | ||||||
Amedisys Inc.(a) |
83,793 | 12,493,536 | ||||||
AmerisourceBergen Corp. |
388,737 | 46,434,635 | ||||||
Cardinal Health Inc. |
769,244 | 38,046,808 | ||||||
Chemed Corp. |
40,589 | 18,878,756 | ||||||
DaVita Inc.(a) |
182,681 | 21,238,493 | ||||||
Encompass Health Corp. |
254,917 | 19,128,972 | ||||||
Guardant Health Inc.(a)(b) |
235,028 | 29,380,850 | ||||||
Henry Schein Inc.(a) |
368,013 | 28,027,870 | ||||||
Laboratory Corp. of America Holdings(a) |
254,794 | 71,709,223 | ||||||
McKesson Corp. |
409,443 | 81,634,745 | ||||||
Molina Healthcare Inc.(a) |
150,722 | 40,892,386 | ||||||
Oak Street Health Inc.(a)(b) |
259,006 | 11,015,525 | ||||||
Premier Inc., Class A |
317,834 | 12,319,246 | ||||||
Quest Diagnostics Inc. |
322,079 | 46,801,300 | ||||||
Signify Health Inc., Class A(a)(b) |
166,912 | 2,982,717 | ||||||
Universal Health Services Inc., Class B |
194,853 | 26,961,810 | ||||||
|
|
|||||||
527,400,371 | ||||||||
Health Care Technology — 0.8% | ||||||||
Cerner Corp. |
781,301 | 55,097,346 | ||||||
Certara Inc.(a)(b) |
219,585 | 7,268,263 | ||||||
Change Healthcare Inc.(a) |
662,889 | 13,880,896 | ||||||
Teladoc Health Inc.(a)(b) |
399,253 | 50,629,273 | ||||||
Veeva Systems Inc., Class A(a) |
361,758 | 104,247,803 | ||||||
|
|
|||||||
231,123,581 |
S C H E D U L E O F I N V E S T M E N T S |
67 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Hotels, Restaurants & Leisure — 3.7% | ||||||||
Aramark |
597,614 | $ | 19,637,596 | |||||
Boyd Gaming Corp.(a) |
214,458 | 13,566,613 | ||||||
Caesars Entertainment Inc.(a)(b) |
538,851 | 60,502,190 | ||||||
Carnival Corp.(a) |
2,246,223 | 56,178,037 | ||||||
Chipotle Mexican Grill Inc.(a) |
73,827 | 134,182,049 | ||||||
Choice Hotels International Inc. |
91,002 | 11,499,923 | ||||||
Churchill Downs Inc. |
96,593 | 23,190,047 | ||||||
Darden Restaurants Inc. |
340,059 | 51,508,737 | ||||||
Domino’s Pizza Inc. |
96,990 | 46,260,350 | ||||||
DraftKings Inc., Class A(a)(b) |
795,034 | 38,288,837 | ||||||
Expedia Group Inc.(a) |
383,197 | 62,805,988 | ||||||
Hilton Worldwide Holdings Inc.(a) |
721,160 | 95,272,448 | ||||||
Hyatt Hotels Corp., Class A(a) |
124,596 | 9,606,352 | ||||||
Marriott Vacations Worldwide Corp. |
108,809 | 17,118,920 | ||||||
MGM Resorts International |
1,059,167 | 45,703,056 | ||||||
Norwegian Cruise Line Holdings Ltd.(a)(b) |
964,270 | 25,755,652 | ||||||
Penn National Gaming Inc.(a)(b) |
408,619 | 29,608,533 | ||||||
Planet Fitness Inc., Class A(a)(b) |
217,658 | 17,097,036 | ||||||
Royal Caribbean Cruises Ltd.(a) |
574,022 | 51,059,257 | ||||||
Six Flags Entertainment Corp.(a) |
200,684 | 8,529,070 | ||||||
Travel + Leisure Co. |
221,394 | 12,072,615 | ||||||
Vail Resorts Inc.(a) |
104,361 | 34,861,792 | ||||||
Wendy’s Co. (The) |
465,564 | 10,093,427 | ||||||
Wyndham Hotels & Resorts Inc. |
239,745 | 18,505,917 | ||||||
Wynn Resorts Ltd.(a)(b) |
281,509 | 23,857,888 | ||||||
Yum China Holdings Inc. |
1,108,372 | 64,407,497 | ||||||
Yum! Brands Inc. |
785,156 | 96,032,430 | ||||||
|
|
|||||||
1,077,202,257 | ||||||||
Household Durables — 1.5% | ||||||||
DR Horton Inc. |
875,602 | 73,524,300 | ||||||
Garmin Ltd. |
399,685 | 62,135,030 | ||||||
Leggett & Platt Inc. |
347,369 | 15,576,026 | ||||||
Lennar Corp., Class A |
715,016 | 66,982,699 | ||||||
Lennar Corp., Class B |
42,908 | 3,329,232 | ||||||
Mohawk Industries Inc.(a) |
147,750 | 26,210,850 | ||||||
Newell Brands Inc. |
1,015,474 | 22,482,594 | ||||||
NVR Inc.(a) |
8,545 | 40,965,414 | ||||||
PulteGroup Inc. |
682,993 | 31,363,038 | ||||||
Tempur Sealy International Inc. |
476,631 | 22,120,445 | ||||||
Toll Brothers Inc. |
292,984 | 16,199,085 | ||||||
TopBuild Corp.(a) |
86,216 | 17,657,899 | ||||||
Whirlpool Corp. |
162,820 | 33,192,485 | ||||||
|
|
|||||||
431,739,097 | ||||||||
Household Products — 0.4% | ||||||||
Church & Dwight Co. Inc. |
648,295 | 53,529,718 | ||||||
Clorox Co. (The) |
324,702 | 53,773,898 | ||||||
Reynolds Consumer Products Inc. |
151,712 | 4,147,806 | ||||||
Spectrum Brands Holdings Inc. |
109,361 | 10,462,567 | ||||||
|
|
|||||||
121,913,989 | ||||||||
Independent Power and Renewable Electricity Producers — 0.3% | ||||||||
AES Corp. (The) |
1,750,210 | 39,957,294 | ||||||
Brookfield Renewable Corp., Class A |
333,674 | 12,949,888 | ||||||
Vistra Corp. |
1,251,396 | 21,398,872 | ||||||
|
|
|||||||
74,306,054 | ||||||||
Insurance — 3.7% | ||||||||
Aflac Inc. |
1,751,489 | 91,305,122 | ||||||
Alleghany Corp.(a) |
35,199 | 21,978,608 | ||||||
American Financial Group Inc./OH |
177,017 | 22,274,049 | ||||||
Arch Capital Group Ltd.(a) |
1,007,454 | 38,464,594 |
Security | Shares | Value | ||||||
Insurance (continued) | ||||||||
Arthur J Gallagher & Co. |
541,358 | $ | 80,472,867 | |||||
Assurant Inc. |
154,183 | 24,322,368 | ||||||
Assured Guaranty Ltd. |
185,614 | 8,688,591 | ||||||
Athene Holding Ltd., Class A(a) |
302,526 | 20,834,966 | ||||||
Axis Capital Holdings Ltd. |
202,341 | 9,315,780 | ||||||
Brighthouse Financial Inc.(a) |
224,949 | 10,174,443 | ||||||
Brown & Brown Inc. |
613,089 | 33,995,785 | ||||||
Cincinnati Financial Corp. |
396,508 | 45,289,144 | ||||||
CNA Financial Corp. |
74,827 | 3,139,741 | ||||||
Erie Indemnity Co., Class A, NVS |
65,549 | 11,695,253 | ||||||
Everest Re Group Ltd. |
103,651 | 25,993,598 | ||||||
Fidelity National Financial Inc. |
720,556 | 32,670,009 | ||||||
First American Financial Corp. |
277,179 | 18,584,852 | ||||||
Globe Life Inc. |
264,518 | 23,550,037 | ||||||
GoHealth Inc., Class A(a)(b) |
165,843 | 834,190 | ||||||
Hanover Insurance Group Inc. (The) |
93,260 | 12,088,361 | ||||||
Hartford Financial Services Group Inc. (The) |
916,116 | 64,357,149 | ||||||
Kemper Corp. |
159,294 | 10,639,246 | ||||||
Lemonade Inc.(a)(b) |
99,855 | 6,691,284 | ||||||
Lincoln National Corp. |
494,107 | 33,969,856 | ||||||
Loews Corp. |
572,722 | 30,886,897 | ||||||
Markel Corp.(a) |
35,473 | 42,394,846 | ||||||
Mercury General Corp. |
71,093 | 3,957,747 | ||||||
Old Republic International Corp. |
728,521 | 16,850,691 | ||||||
Primerica Inc. |
102,365 | 15,726,335 | ||||||
Principal Financial Group Inc. |
700,473 | 45,110,461 | ||||||
Prudential Financial Inc. |
1,021,101 | 107,419,825 | ||||||
Reinsurance Group of America Inc. |
177,033 | 19,696,692 | ||||||
RenaissanceRe Holdings Ltd. |
123,135 | 17,165,019 | ||||||
Unum Group |
533,170 | 13,361,240 | ||||||
W R Berkley Corp. |
360,175 | 26,357,606 | ||||||
White Mountains Insurance Group Ltd.(b) |
7,890 | 8,439,223 | ||||||
Willis Towers Watson PLC |
338,463 | 78,679,109 | ||||||
|
|
|||||||
1,077,375,584 | ||||||||
Interactive Media & Services — 1.4% | ||||||||
IAC/InterActiveCorp.(a) |
199,497 | 25,992,464 | ||||||
Match Group Inc.(a)(b) |
726,441 | 114,043,973 | ||||||
Pinterest Inc., Class A(a) |
1,465,482 | 74,666,308 | ||||||
TripAdvisor Inc.(a) |
257,070 | 8,701,819 | ||||||
Twitter Inc.(a) |
2,051,369 | 123,882,174 | ||||||
Vimeo Inc.(a)(b) |
379,990 | 11,160,306 | ||||||
Zillow Group Inc., Class A(a)(b) |
155,204 | 13,747,970 | ||||||
Zillow Group Inc., Class C, NVS(a)(b) |
447,397 | 39,433,572 | ||||||
|
|
|||||||
411,628,586 | ||||||||
Internet & Direct Marketing Retail — 0.7% | ||||||||
DoorDash Inc., Class A(a)(b) |
378,824 | 78,030,168 | ||||||
Etsy Inc.(a) |
334,318 | 69,524,771 | ||||||
Qurate Retail Inc., Series A |
971,122 | 9,895,733 | ||||||
Wayfair Inc., Class A(a)(b) |
198,904 | 50,821,961 | ||||||
|
|
|||||||
208,272,633 | ||||||||
IT Services — 3.5% | ||||||||
Akamai Technologies Inc.(a)(b) |
425,151 | 44,466,543 | ||||||
Alliance Data Systems Corp. |
130,570 | 13,173,207 | ||||||
Amdocs Ltd. |
337,566 | 25,557,122 | ||||||
Broadridge Financial Solutions Inc. |
302,252 | 50,367,273 | ||||||
Cloudflare Inc., Class A(a)(b) |
682,765 | 76,913,477 | ||||||
Concentrix Corp.(a) |
110,123 | 19,491,771 | ||||||
DXC Technology Co.(a) |
661,278 | 22,225,553 | ||||||
EPAM Systems Inc.(a) |
141,762 | 80,872,386 |
68 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
Euronet Worldwide Inc.(a) |
132,280 | $ | 16,836,598 | |||||
Fastly Inc., Class A(a)(b) |
276,242 | 11,171,226 | ||||||
FleetCor Technologies Inc.(a) |
215,388 | 56,274,423 | ||||||
Gartner Inc.(a) |
214,973 | 65,325,995 | ||||||
Genpact Ltd. |
478,623 | 22,739,379 | ||||||
Globant SA(a) |
106,777 | 30,005,405 | ||||||
GoDaddy Inc., Class A(a)(b) |
445,481 | 31,050,026 | ||||||
Jack Henry & Associates Inc. |
196,314 | 32,207,275 | ||||||
MongoDB Inc.(a)(b) |
162,672 | 76,701,475 | ||||||
Okta Inc.(a)(b) |
326,105 | 77,397,761 | ||||||
Paychex Inc. |
847,248 | 95,273,038 | ||||||
Paysafe Ltd.(a)(b) |
1,100,910 | 8,532,052 | ||||||
Sabre Corp.(a) |
829,161 | 9,817,266 | ||||||
Shift4 Payments Inc., Class A(a)(b) |
112,186 | 8,696,659 | ||||||
SolarWinds Corp. |
91,596 | 1,532,401 | ||||||
StoneCo Ltd., Class A(a) |
588,046 | 20,416,957 | ||||||
Switch Inc., Class A |
299,462 | 7,603,340 | ||||||
VeriSign Inc.(a) |
260,460 | 53,396,905 | ||||||
Western Union Co. (The) |
1,091,627 | 22,072,698 | ||||||
WEX Inc.(a)(b) |
116,541 | 20,527,532 | ||||||
Wix.com Ltd.(a)(b) |
141,268 | 27,684,290 | ||||||
|
|
|||||||
1,028,330,033 | ||||||||
Leisure Products — 0.6% | ||||||||
Brunswick Corp./DE |
202,998 | 19,339,620 | ||||||
Hasbro Inc. |
334,120 | 29,810,186 | ||||||
Hayward Holdings Inc.(a)(b) |
100,240 | 2,229,338 | ||||||
Mattel Inc.(a) |
909,518 | 16,880,654 | ||||||
Peloton Interactive Inc., Class A(a)(b) |
693,481 | 60,367,521 | ||||||
Polaris Inc. |
150,506 | 18,009,548 | ||||||
YETI Holdings Inc.(a)(b) |
223,626 | 19,162,512 | ||||||
|
|
|||||||
165,799,379 | ||||||||
Life Sciences Tools & Services — 2.9% | ||||||||
10X Genomics Inc., Class A(a)(b) |
221,773 | 32,285,713 | ||||||
Adaptive Biotechnologies Corp.(a)(b) |
284,341 | 9,664,750 | ||||||
Agilent Technologies Inc. |
800,539 | 126,108,909 | ||||||
Avantor Inc.(a)(b) |
1,531,645 | 62,644,280 | ||||||
Bio-Rad Laboratories Inc., Class A(a) |
56,227 | 41,942,531 | ||||||
Bio-Techne Corp. |
101,285 | 49,079,672 | ||||||
Bruker Corp. |
267,197 | 20,868,086 | ||||||
Charles River Laboratories International Inc.(a) |
130,464 | 53,838,579 | ||||||
IQVIA Holdings Inc.(a) |
501,653 | 120,165,960 | ||||||
Maravai LifeSciences Holdings Inc., Class A(a) |
268,577 | 13,181,759 | ||||||
Mettler-Toledo International Inc.(a)(b) |
60,437 | 83,243,506 | ||||||
PerkinElmer Inc.(b) |
293,130 | 50,796,498 | ||||||
PPD Inc.(a) |
418,799 | 19,595,605 | ||||||
QIAGEN NV(a)(b) |
593,998 | 30,697,817 | ||||||
Repligen Corp.(a) |
143,742 | 41,540,000 | ||||||
Sotera Health Co.(a)(b) |
262,693 | 6,869,422 | ||||||
Syneos Health Inc.(a) |
265,910 | 23,261,807 | ||||||
Waters Corp.(a)(b) |
161,482 | 57,697,519 | ||||||
|
|
|||||||
843,482,413 | ||||||||
Machinery — 3.8% | ||||||||
AGCO Corp. |
162,853 | 19,954,378 | ||||||
Allison Transmission Holdings Inc. |
284,660 | 10,054,191 | ||||||
Colfax Corp.(a)(b) |
308,911 | 14,179,015 | ||||||
Crane Co. |
128,868 | 12,217,975 | ||||||
Cummins Inc. |
379,237 | 85,161,461 | ||||||
Donaldson Co. Inc. |
328,146 | 18,838,862 | ||||||
Dover Corp. |
379,018 | 58,937,299 |
Security | Shares | Value | ||||||
Machinery (continued) | ||||||||
Flowserve Corp. |
339,771 | $ | 11,779,861 | |||||
Fortive Corp. |
862,529 | 60,868,671 | ||||||
Gates Industrial Corp. PLC(a) |
251,998 | 4,100,007 | ||||||
Graco Inc. |
446,192 | 31,220,054 | ||||||
IDEX Corp. |
201,008 | 41,598,606 | ||||||
Ingersoll Rand Inc.(a) |
1,071,790 | 54,028,934 | ||||||
ITT Inc. |
224,775 | 19,294,686 | ||||||
Lincoln Electric Holdings Inc. |
149,875 | 19,302,401 | ||||||
Middleby Corp. (The)(a)(b) |
147,059 | 25,075,030 | ||||||
Nordson Corp. |
151,797 | 36,150,456 | ||||||
Oshkosh Corp. |
178,260 | 18,248,476 | ||||||
Otis Worldwide Corp. |
1,130,535 | 93,020,420 | ||||||
PACCAR Inc. |
896,414 | 70,744,993 | ||||||
Parker-Hannifin Corp. |
338,113 | 94,543,157 | ||||||
Pentair PLC |
432,560 | 31,416,833 | ||||||
Snap-on Inc. |
139,361 | 29,119,481 | ||||||
Stanley Black & Decker Inc. |
424,304 | 74,384,734 | ||||||
Timken Co. (The) |
167,735 | 10,973,224 | ||||||
Toro Co. (The) |
285,805 | 27,840,265 | ||||||
Westinghouse Air Brake Technologies Corp. |
481,163 | 41,481,062 | ||||||
Woodward Inc. |
149,870 | 16,965,284 | ||||||
Xylem Inc./NY |
472,817 | 58,478,007 | ||||||
|
|
|||||||
1,089,977,823 | ||||||||
Marine — 0.0% | ||||||||
Kirby Corp.(a) |
155,657 | 7,465,310 | ||||||
|
|
|||||||
Media — 1.6% | ||||||||
Altice USA Inc., Class A(a) |
558,639 | 11,575,000 | ||||||
Cable One Inc. |
14,205 | 25,755,512 | ||||||
Discovery Inc., Class A(a)(b) |
426,329 | 10,820,230 | ||||||
Discovery Inc., Class C, NVS(a)(b) |
824,141 | 20,001,902 | ||||||
DISH Network Corp., Class A(a)(b) |
649,740 | 28,237,700 | ||||||
Fox Corp., Class A, NVS |
842,172 | 33,779,519 | ||||||
Fox Corp., Class B |
397,319 | 14,748,481 | ||||||
Interpublic Group of Companies Inc. (The) |
1,026,687 | 37,648,612 | ||||||
Liberty Broadband Corp., Class A(a) |
64,732 | 10,897,632 | ||||||
Liberty Broadband Corp., Class C, NVS(a) |
382,156 | 65,998,341 | ||||||
Liberty Media Corp.-Liberty SiriusXM, Class A(a)(b) |
208,805 | 9,849,332 | ||||||
Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a) |
423,574 | 20,107,058 | ||||||
New York Times Co. (The), Class A |
430,887 | 21,229,803 | ||||||
News Corp., Class A, NVS |
1,016,771 | 23,924,622 | ||||||
News Corp., Class B |
330,889 | 7,686,551 | ||||||
Nexstar Media Group Inc., Class A |
107,545 | 16,342,538 | ||||||
Omnicom Group Inc. |
564,270 | 40,887,004 | ||||||
Sirius XM Holdings Inc. |
2,354,978 | 14,365,366 | ||||||
ViacomCBS Inc., Class A |
13,960 | 587,297 | ||||||
ViacomCBS Inc., Class B, NVS |
1,537,201 | 60,734,812 | ||||||
|
|
|||||||
475,177,312 | ||||||||
Metals & Mining — 0.7% | ||||||||
Alcoa Corp.(a) |
490,557 | 24,007,860 | ||||||
Cleveland-Cliffs Inc.(a) |
1,193,667 | 23,646,543 | ||||||
Nucor Corp. |
776,327 | 76,460,446 | ||||||
Reliance Steel & Aluminum Co. |
165,387 | 23,554,416 | ||||||
Royal Gold Inc. |
170,942 | 16,323,252 | ||||||
Steel Dynamics Inc. |
512,151 | 29,950,590 | ||||||
United States Steel Corp. |
697,143 | 15,316,232 | ||||||
|
|
|||||||
209,259,339 |
S C H E D U L E O F I N V E S T M E N T S |
69 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Mortgage Real Estate Investment — 0.3% | ||||||||
AGNC Investment Corp. |
1,368,644 | $ | 21,583,516 | |||||
Annaly Capital Management Inc. |
3,653,614 | 30,763,430 | ||||||
New Residential Investment Corp. |
1,130,596 | 12,436,556 | ||||||
Starwood Property Trust Inc. |
715,768 | 17,471,897 | ||||||
|
|
|||||||
82,255,399 | ||||||||
Multi-Utilities — 1.6% | ||||||||
Ameren Corp. |
672,636 | 54,483,516 | ||||||
CenterPoint Energy Inc. |
1,568,301 | 38,580,205 | ||||||
CMS Energy Corp. |
755,081 | 45,100,988 | ||||||
Consolidated Edison Inc. |
935,751 | 67,926,165 | ||||||
DTE Energy Co. |
508,733 | 56,830,563 | ||||||
MDU Resources Group Inc. |
520,335 | 15,438,339 | ||||||
NiSource Inc. |
1,046,253 | 25,350,710 | ||||||
Public Service Enterprise Group Inc. |
1,327,981 | 80,874,043 | ||||||
WEC Energy Group Inc. |
831,318 | 73,322,248 | ||||||
|
|
|||||||
457,906,777 | ||||||||
Multiline Retail — 0.3% | ||||||||
Dollar Tree Inc.(a) |
611,562 | 58,538,715 | ||||||
Kohl’s Corp. |
419,088 | 19,734,854 | ||||||
Nordstrom Inc.(a)(b) |
285,796 | 7,559,304 | ||||||
Ollie’s Bargain Outlet Holdings Inc.(a)(b) |
170,451 | 10,274,786 | ||||||
|
|
|||||||
96,107,659 | ||||||||
Oil, Gas & Consumable Fuels — 3.4% | ||||||||
Antero Midstream Corp. |
873,400 | 9,100,828 | ||||||
APA Corp. |
988,847 | 21,190,991 | ||||||
Cabot Oil & Gas Corp. |
1,025,479 | 22,314,423 | ||||||
Cheniere Energy Inc.(a) |
619,081 | 60,465,641 | ||||||
Cimarex Energy Co. |
262,617 | 22,900,203 | ||||||
Continental Resources Inc./OK(b) |
169,887 | 7,840,285 | ||||||
Devon Energy Corp. |
1,763,787 | 62,632,077 | ||||||
Diamondback Energy Inc. |
474,602 | 44,930,571 | ||||||
DTE Midstream LLC(a) |
254,459 | 11,766,184 | ||||||
EQT Corp.(a) |
727,606 | 14,886,819 | ||||||
Hess Corp. |
731,894 | 57,168,240 | ||||||
HollyFrontier Corp. |
390,962 | 12,952,571 | ||||||
Marathon Oil Corp. |
2,052,076 | 28,051,879 | ||||||
Marathon Petroleum Corp. |
1,684,853 | 104,140,764 | ||||||
New Fortress Energy Inc. |
69,220 | 1,920,855 | ||||||
Occidental Petroleum Corp. |
2,230,170 | 65,968,429 | ||||||
ONEOK Inc. |
1,170,580 | 67,881,934 | ||||||
Phillips 66 |
1,150,464 | 80,566,994 | ||||||
Pioneer Natural Resources Co. |
570,434 | 94,982,965 | ||||||
Targa Resources Corp. |
590,067 | 29,037,197 | ||||||
Texas Pacific Land Corp. |
15,330 | 18,539,489 | ||||||
Valero Energy Corp. |
1,078,808 | 76,131,481 | ||||||
Williams Companies Inc. (The) |
3,199,296 | 82,989,738 | ||||||
|
|
|||||||
998,360,558 | ||||||||
Paper & Forest Products — 0.1% | ||||||||
Louisiana-Pacific Corp. |
250,672 | 15,383,741 | ||||||
|
|
|||||||
Personal Products — 0.1% | ||||||||
Coty Inc., Class A(a) |
899,460 | 7,069,756 | ||||||
Herbalife Nutrition Ltd.(a)(b) |
280,543 | 11,889,412 | ||||||
|
|
|||||||
18,959,168 | ||||||||
Pharmaceuticals — 0.8% | ||||||||
Catalent Inc.(a) |
425,247 | 56,587,618 | ||||||
Elanco Animal Health Inc.(a)(b) |
1,179,771 | 37,622,897 | ||||||
Jazz Pharmaceuticals PLC(a) |
158,183 | 20,597,008 | ||||||
Nektar Therapeutics(a)(b) |
484,739 | 8,705,913 |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
Organon & Co. |
663,115 | $ | 21,743,541 | |||||
Perrigo Co. PLC |
348,988 | 16,517,602 | ||||||
Royalty Pharma PLC, Class A |
864,069 | 31,227,454 | ||||||
Viatris Inc. |
3,200,343 | 43,364,648 | ||||||
|
|
|||||||
236,366,681 | ||||||||
Professional Services — 2.3% | ||||||||
Booz Allen Hamilton Holding Corp. |
351,861 | 27,920,170 | ||||||
CACI International Inc., Class A(a) |
60,745 | 15,921,264 | ||||||
Clarivate PLC(a)(b) |
1,148,613 | 25,154,625 | ||||||
CoStar Group Inc.(a) |
1,030,432 | 88,678,978 | ||||||
Dun & Bradstreet Holdings Inc.(a)(b) |
418,372 | 7,032,833 | ||||||
Equifax Inc. |
319,268 | 80,908,897 | ||||||
FTI Consulting Inc.(a)(b) |
87,611 | 11,801,202 | ||||||
IHS Markit Ltd. |
981,713 | 114,487,370 | ||||||
Jacobs Engineering Group Inc. |
342,145 | 45,344,477 | ||||||
Legalzoomcom Inc.(a)(b) |
49,952 | 1,318,733 | ||||||
Leidos Holdings Inc. |
371,179 | 35,681,437 | ||||||
ManpowerGroup Inc. |
141,521 | 15,323,894 | ||||||
Nielsen Holdings PLC |
931,931 | 17,883,756 | ||||||
Robert Half International Inc. |
287,910 | 28,886,010 | ||||||
Science Applications International Corp. |
151,280 | 12,943,517 | ||||||
TransUnion |
505,614 | 56,785,508 | ||||||
Verisk Analytics Inc. |
418,373 | 83,787,561 | ||||||
|
|
|||||||
669,860,232 | ||||||||
Real Estate Management & Development — 0.5% | ||||||||
CBRE Group Inc., Class A(a) |
879,877 | 85,664,825 | ||||||
Howard Hughes Corp. (The)(a) |
109,054 | 9,576,032 | ||||||
Jones Lang LaSalle Inc.(a)(b) |
133,436 | 33,104,137 | ||||||
Opendoor Technologies Inc.(a)(b) |
1,187,282 | 24,374,899 | ||||||
|
|
|||||||
152,719,893 | ||||||||
Road & Rail — 1.1% | ||||||||
AMERCO |
23,386 | 15,108,058 | ||||||
JB Hunt Transport Services Inc. |
223,254 | 37,332,534 | ||||||
Kansas City Southern |
238,902 | 64,656,437 | ||||||
Knight-Swift Transportation Holdings Inc. |
420,649 | 21,516,196 | ||||||
Landstar System Inc. |
99,950 | 15,774,109 | ||||||
Lyft Inc., Class A(a) |
755,636 | 40,494,533 | ||||||
Old Dominion Freight Line Inc. |
269,534 | 77,081,333 | ||||||
Ryder System Inc. |
135,950 | 11,244,425 | ||||||
Schneider National Inc., Class B |
125,326 | 2,849,913 | ||||||
TuSimple Holdings Inc., Class A(a)(b) |
93,623 | 3,476,222 | ||||||
XPO Logistics Inc.(a)(b) |
253,939 | 20,208,466 | ||||||
|
|
|||||||
309,742,226 | ||||||||
Semiconductors & Semiconductor Equipment — 2.8% | ||||||||
Allegro MicroSystems Inc.(a)(b) |
105,864 | 3,383,413 | ||||||
Brooks Automation Inc. |
192,121 | 19,663,584 | ||||||
Cirrus Logic Inc.(a) |
150,410 | 12,386,264 | ||||||
Enphase Energy Inc.(a) |
347,648 | 52,136,771 | ||||||
Entegris Inc. |
352,395 | 44,366,531 | ||||||
First Solar Inc.(a) |
278,011 | 26,538,930 | ||||||
Marvell Technology Inc. |
2,155,410 | 129,992,777 | ||||||
Microchip Technology Inc. |
707,721 | 108,628,096 | ||||||
MKS Instruments Inc. |
144,637 | 21,827,170 | ||||||
Monolithic Power Systems Inc. |
117,463 | 56,931,967 | ||||||
ON Semiconductor Corp.(a) |
1,110,198 | 50,813,763 | ||||||
Qorvo Inc.(a) |
292,934 | 48,975,635 | ||||||
Skyworks Solutions Inc. |
434,000 | 71,514,520 | ||||||
Teradyne Inc. |
438,720 | 47,895,062 | ||||||
Universal Display Corp. |
115,800 | 19,797,168 |
70 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
Xilinx Inc. |
647,680 | $ | 97,793,203 | |||||
|
|
|||||||
812,644,854 | ||||||||
Software — 8.3% | ||||||||
Alteryx Inc., Class A(a)(b) |
153,949 | 11,253,672 | ||||||
Anaplan Inc.(a) |
372,538 | 22,683,839 | ||||||
ANSYS Inc.(a)(b) |
230,136 | 78,349,801 | ||||||
Aspen Technology Inc.(a)(b) |
181,438 | 22,280,586 | ||||||
Avalara Inc.(a)(b) |
222,041 | 38,806,106 | ||||||
Bentley Systems Inc., Class B(b) |
361,069 | 21,895,224 | ||||||
Bill.com Holdings Inc.(a)(b) |
207,957 | 55,514,121 | ||||||
Black Knight Inc.(a) |
404,382 | 29,115,504 | ||||||
C3.ai Inc., Class A(a)(b) |
90,535 | 4,195,392 | ||||||
Cadence Design Systems Inc.(a) |
722,640 | 109,436,602 | ||||||
CDK Global Inc. |
318,440 | 13,549,622 | ||||||
Ceridian HCM Holding Inc.(a)(b) |
337,987 | 38,064,096 | ||||||
Citrix Systems Inc. |
328,646 | 35,286,721 | ||||||
Coupa Software Inc.(a) |
193,085 | 42,320,370 | ||||||
Crowdstrike Holdings Inc., Class A(a) |
518,956 | 127,549,006 | ||||||
Datadog Inc., Class A(a) |
613,731 | 86,750,877 | ||||||
Datto Holding Corp.(a) |
66,376 | 1,586,386 | ||||||
DocuSign Inc.(a) |
501,611 | 129,129,720 | ||||||
Dolby Laboratories Inc., Class A |
167,735 | 14,760,680 | ||||||
DoubleVerify Holdings Inc.(a)(b) |
39,836 | 1,360,798 | ||||||
Dropbox Inc., Class A(a)(b) |
795,961 | 23,257,980 | ||||||
Duck Creek Technologies Inc.(a) |
186,431 | 8,247,707 | ||||||
Dynatrace Inc.(a) |
519,915 | 36,898,368 | ||||||
Elastic NV(a)(b) |
182,492 | 27,189,483 | ||||||
Everbridge Inc.(a)(b) |
100,501 | 15,179,671 | ||||||
Fair Isaac Corp.(a)(b) |
71,863 | 28,596,444 | ||||||
Five9 Inc.(a) |
175,919 | 28,101,301 | ||||||
Fortinet Inc.(a) |
352,632 | 102,982,649 | ||||||
Guidewire Software Inc.(a)(b) |
219,346 | 26,073,659 | ||||||
HubSpot Inc.(a)(b) |
117,486 | 79,431,110 | ||||||
Jamf Holding Corp.(a)(b) |
139,179 | 5,361,175 | ||||||
Mandiant Inc. |
621,927 | 11,070,301 | ||||||
Manhattan Associates Inc.(a) |
165,633 | 25,346,818 | ||||||
McAfee Corp., Class A |
180,215 | 3,984,554 | ||||||
Medallia Inc.(a)(b) |
288,373 | 9,767,194 | ||||||
N-Able Inc.(a) |
91,594 | 1,136,682 | ||||||
nCino Inc.(a)(b) |
148,308 | 10,534,317 | ||||||
NCR Corp.(a)(b) |
332,965 | 12,905,723 | ||||||
New Relic Inc.(a) |
134,755 | 9,671,366 | ||||||
NortonLifeLock Inc. |
1,458,102 | 36,889,981 | ||||||
Nuance Communications Inc.(a) |
754,860 | 41,547,494 | ||||||
Nutanix Inc., Class A(a)(b) |
504,913 | 19,035,220 | ||||||
Palantir Technologies Inc., Class A(a) |
4,271,296 | 102,681,956 | ||||||
Palo Alto Networks Inc.(a)(b) |
250,913 | 120,187,327 | ||||||
Paycom Software Inc.(a) |
134,091 | 66,475,613 | ||||||
Paycor HCM Inc.(a) |
54,290 | 1,908,836 | ||||||
Paylocity Holding Corp.(a) |
98,003 | 27,480,041 | ||||||
Pegasystems Inc. |
105,898 | 13,459,636 | ||||||
Procore Technologies Inc.(a)(b) |
26,849 | 2,398,690 | ||||||
PTC Inc.(a) |
279,526 | 33,484,420 | ||||||
RingCentral Inc., Class A(a) |
210,141 | 45,705,667 | ||||||
Smartsheet Inc., Class A(a) |
318,177 | 21,896,941 | ||||||
Splunk Inc.(a) |
432,348 | 62,565,079 | ||||||
SS&C Technologies Holdings Inc. |
593,562 | 41,193,203 | ||||||
Synopsys Inc.(a) |
399,559 | 119,631,960 | ||||||
Teradata Corp.(a) |
282,646 | 16,209,748 | ||||||
Trade Desk Inc. (The), Class A(a) |
1,127,740 | 79,280,122 |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Tyler Technologies Inc.(a) |
106,404 | $ | 48,802,195 | |||||
Unity Software Inc.(a)(b) |
390,402 | 49,288,252 | ||||||
Wolfspeed Inc. |
303,751 | 24,521,818 | ||||||
Zendesk Inc.(a) |
311,786 | 36,288,773 | ||||||
Zscaler Inc.(a) |
203,393 | 53,333,712 | ||||||
|
|
|||||||
2,413,892,309 | ||||||||
Specialty Retail — 3.1% | ||||||||
Advance Auto Parts Inc. |
173,673 | 36,278,553 | ||||||
AutoNation Inc.(a)(b) |
119,243 | 14,519,028 | ||||||
AutoZone Inc.(a)(b) |
56,875 | 96,573,181 | ||||||
Bath & Body Works Inc. |
644,593 | 40,628,697 | ||||||
Best Buy Co. Inc. |
658,191 | 69,577,371 | ||||||
Burlington Stores Inc.(a) |
173,799 | 49,284,182 | ||||||
CarMax Inc.(a)(b) |
430,716 | 55,114,419 | ||||||
Carvana Co.(a)(b) |
203,467 | 61,353,439 | ||||||
Dick’s Sporting Goods Inc. |
164,103 | 19,654,616 | ||||||
Five Below Inc.(a) |
143,958 | 25,453,214 | ||||||
Floor & Decor Holdings Inc., Class A(a) |
267,844 | 32,352,877 | ||||||
Foot Locker Inc. |
234,497 | 10,707,133 | ||||||
GameStop Corp., Class A(a)(b) |
169,708 | 29,778,663 | ||||||
Gap Inc. (The) |
528,703 | 12,001,558 | ||||||
Leslie’s Inc.(a)(b) |
324,753 | 6,670,427 | ||||||
Lithia Motors Inc. |
77,310 | 24,510,362 | ||||||
O’Reilly Automotive Inc.(a) |
179,196 | 109,499,508 | ||||||
Penske Automotive Group Inc. |
82,135 | 8,262,781 | ||||||
Petco Health & Wellness Co. Inc.(a)(b) |
145,892 | 3,078,321 | ||||||
RH(a) |
45,119 | 30,090,312 | ||||||
Tractor Supply Co. |
303,644 | 61,521,311 | ||||||
Ulta Beauty Inc.(a) |
140,541 | 50,724,058 | ||||||
Victoria’s Secret & Co.(a) |
208,000 | 11,494,080 | ||||||
Vroom Inc.(a)(b) |
300,735 | 6,637,222 | ||||||
Williams-Sonoma Inc. |
196,204 | 34,792,855 | ||||||
|
|
|||||||
900,558,168 | ||||||||
Technology Hardware, Storage & Peripherals — 0.9% | ||||||||
Hewlett Packard Enterprise Co. |
3,438,517 | 48,998,867 | ||||||
HP Inc. |
3,154,776 | 86,314,671 | ||||||
NetApp Inc. |
582,361 | 52,272,723 | ||||||
Pure Storage Inc., Class A(a) |
705,806 | 17,758,079 | ||||||
Western Digital Corp.(a) |
810,497 | 45,744,451 | ||||||
Xerox Holdings Corp. |
371,414 | 7,491,421 | ||||||
|
|
|||||||
258,580,212 | ||||||||
Textiles, Apparel & Luxury Goods — 1.2% | ||||||||
Capri Holdings Ltd.(a)(b) |
395,826 | 19,161,937 | ||||||
Carter’s Inc. |
112,510 | 10,940,472 | ||||||
Columbia Sportswear Co. |
104,322 | 9,998,220 | ||||||
Deckers Outdoor Corp.(a) |
72,341 | 26,057,228 | ||||||
Hanesbrands Inc. |
906,153 | 15,549,585 | ||||||
Lululemon Athletica Inc.(a)(b) |
300,348 | 121,550,836 | ||||||
PVH Corp.(a) |
185,448 | 19,062,200 | ||||||
Ralph Lauren Corp. |
123,606 | 13,725,210 | ||||||
Skechers U.S.A. Inc., Class A(a) |
344,199 | 14,497,662 | ||||||
Tapestry Inc. |
729,131 | 26,992,430 | ||||||
Under Armour Inc., Class A(a) |
492,307 | 9,934,755 | ||||||
Under Armour Inc., Class C, NVS(a)(b) |
534,605 | 9,366,280 | ||||||
VF Corp. |
852,630 | 57,117,684 | ||||||
|
|
|||||||
353,954,499 | ||||||||
Thrifts & Mortgage Finance — 0.1% | ||||||||
MGIC Investment Corp. |
883,331 | 13,214,632 | ||||||
New York Community Bancorp. Inc. |
1,178,711 | 15,170,010 |
S C H E D U L E O F I N V E S T M E N T S |
71 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Thrifts & Mortgage Finance (continued) | ||||||||
Rocket Companies Inc., Class A(b) |
353,997 | $ | 5,678,112 | |||||
TFS Financial Corp. |
142,340 | 2,713,000 | ||||||
UWM Holdings Corp. |
245,346 | 1,705,155 | ||||||
|
|
|||||||
38,480,909 | ||||||||
Trading Companies & Distributors — 0.9% | ||||||||
Air Lease Corp. |
279,607 | 10,999,739 | ||||||
Core & Main Inc., Class A(a)(b) |
92,723 | 2,430,270 | ||||||
Fastenal Co. |
1,510,708 | 77,967,640 | ||||||
MSC Industrial Direct Co. Inc., Class A |
117,204 | 9,398,589 | ||||||
SiteOne Landscape Supply Inc.(a)(b) |
115,205 | 22,979,941 | ||||||
United Rentals Inc.(a) |
190,878 | 66,984,816 | ||||||
Univar Solutions Inc.(a) |
437,060 | 10,410,769 | ||||||
Watsco Inc. |
86,014 | 22,761,025 | ||||||
WW Grainger Inc. |
122,643 | 48,206,058 | ||||||
|
|
|||||||
272,138,847 | ||||||||
Water Utilities — 0.4% | ||||||||
American Water Works Co. Inc. |
478,479 | 80,882,090 | ||||||
Essential Utilities Inc. |
584,953 | 26,954,634 | ||||||
|
|
|||||||
107,836,724 | ||||||||
|
|
|||||||
Total
Common Stocks — 99.8% |
|
28,980,405,349 | ||||||
|
|
Security | Shares | Value | ||||||
Short-Term Investments | ||||||||
Money Market Funds — 3.5% | ||||||||
BlackRock
Cash Funds: Institutional, |
983,569,936 | $ | 984,061,721 | |||||
BlackRock
Cash Funds: Treasury, |
38,200,000 | 38,200,000 | ||||||
|
|
|||||||
1,022,261,721 | ||||||||
|
|
|||||||
Total
Short-Term Investments — 3.5% |
|
1,022,261,721 | ||||||
|
|
|||||||
Total
Investments in Securities — 103.3% |
|
30,002,667,070 | ||||||
Other Assets, Less Liabilities — (3.3)% |
|
(958,145,759 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 29,044,521,311 | |||||
|
|
(a) |
Non-income producing security. |
(b) |
All or a portion of this security is on loan. |
(c) |
Affiliate of the Fund. |
(d) |
Annualized 7-day yield as of period end. |
(e) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 03/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 09/30/21 |
Shares Held at |
Income | Capital Gain Distributions from Underlying Funds |
|
||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 770,892,251 | $ | 213,262,848 | (a) | $ | — | $ | (13,737 | ) | $ | (79,641 | ) | $ | 984,061,721 | 983,569,936 | $ | 1,539,740 | (b) | $ | — | |||||||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
33,520,000 | 4,680,000 | (a) | — | — | — | 38,200,000 | 38,200,000 | 2,051 | — | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
$ | (13,737 | ) | $ | (79,641 | ) | $ | 1,022,261,721 | $ | 1,541,791 | $ | — | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 400 E-Mini Index |
140 | 12/17/21 | $ | 36,865 | $ | (915,289 | ) | |||||||||
S&P 500 E-Mini Index |
103 | 12/17/21 | 22,133 | (833,308 | ) | |||||||||||
|
|
|||||||||||||||
$ | (1,748,597 | ) | ||||||||||||||
|
|
72 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap 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:
|
||||
Equity Contracts |
||||
|
||||
Liabilities — Derivative Financial Instruments |
||||
Futures contracts |
||||
Unrealized depreciation on futures contracts(a) |
$ | 1,748,597 | ||
|
|
(a) |
Net cumulative appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
||||
Equity Contracts |
||||
|
||||
Net Realized Gain (Loss) from: |
||||
Futures contracts |
$ | 3,313,233 | ||
|
|
|||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures contracts |
$ | (1,846,040 | ) | |
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
||||
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 53,956,041 | ||
|
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 28,980,405,349 | $ | — | $ | — | $ | 28,980,405,349 | ||||||||
Money Market Funds |
1,022,261,721 | — | — | 1,022,261,721 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 30,002,667,070 | $ | — | $ | — | $ | 30,002,667,070 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative financial instruments(a) |
||||||||||||||||
Liabilities |
||||||||||||||||
Futures Contracts |
$ | (1,748,597 | ) | $ | — | $ | — | $ | (1,748,597 | ) | ||||||
|
|
|
|
|
|
|
|
(a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
S C H E D U L E O F I N V E S T M E N T S |
73 |
Schedule of Investments (unaudited) September 30, 2021 |
iShares® Russell Mid-Cap Growth ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Aerospace & Defense — 0.9% | ||||||||
Axon Enterprise Inc.(a) |
247,587 | $ | 43,332,677 | |||||
BWX Technologies Inc. |
276,768 | 14,906,725 | ||||||
HEICO Corp.(b) |
54,736 | 7,218,036 | ||||||
HEICO Corp., Class A |
95,733 | 11,337,659 | ||||||
Howmet Aerospace Inc. |
109,980 | 3,431,376 | ||||||
Spirit AeroSystems Holdings Inc., Class A |
115,952 | 5,123,919 | ||||||
TransDigm Group Inc.(a) |
57,067 | 35,642,336 | ||||||
Virgin Galactic Holdings Inc.(a)(b) |
630,300 | 15,946,590 | ||||||
|
|
|||||||
136,939,318 | ||||||||
Air Freight & Logistics — 0.6% | ||||||||
CH Robinson Worldwide Inc. |
99,967 | 8,697,129 | ||||||
Expeditors International of Washington Inc. |
470,234 | 56,018,976 | ||||||
GXO Logistics Inc.(a)(b) |
317,966 | 24,941,253 | ||||||
|
|
|||||||
89,657,358 | ||||||||
Airlines — 0.7% | ||||||||
Delta Air Lines Inc.(a) |
2,442,443 | 104,072,496 | ||||||
|
|
|||||||
Auto Components — 0.3% | ||||||||
Aptiv PLC(a) |
189,328 | 28,204,192 | ||||||
QuantumScape Corp.(a)(b) |
562,848 | 13,812,290 | ||||||
|
|
|||||||
42,016,482 | ||||||||
Automobiles — 0.1% | ||||||||
Thor Industries Inc. |
81,970 | 10,062,637 | ||||||
|
|
|||||||
Banks — 0.2% | ||||||||
Citizens Financial Group Inc. |
285,205 | 13,398,931 | ||||||
Sterling Bancorp./DE |
57,237 | 1,428,636 | ||||||
Synovus Financial Corp. |
41,343 | 1,814,544 | ||||||
Western Alliance Bancorp. |
204,488 | 22,252,384 | ||||||
|
|
|||||||
38,894,495 | ||||||||
Beverages — 0.3% | ||||||||
Boston Beer Co. Inc. (The), Class A, NVS(a) |
35,579 | 18,136,395 | ||||||
Brown-Forman Corp., Class A |
85,581 | 5,363,362 | ||||||
Brown-Forman Corp., Class B, NVS |
348,715 | 23,367,392 | ||||||
|
|
|||||||
46,867,149 | ||||||||
Biotechnology — 3.6% | ||||||||
Acceleron Pharma Inc.(a)(b) |
202,179 | 34,795,006 | ||||||
Alnylam Pharmaceuticals Inc.(a)(b) |
453,388 | 85,604,188 | ||||||
CureVac NV(a)(b) |
205,968 | 11,249,972 | ||||||
Exact Sciences Corp.(a)(b) |
605,356 | 57,781,230 | ||||||
Exelixis Inc.(a) |
1,007,590 | 21,300,453 | ||||||
Horizon Therapeutics PLC(a) |
154,914 | 16,969,280 | ||||||
Incyte Corp.(a) |
606,164 | 41,691,960 | ||||||
Ionis Pharmaceuticals Inc.(a)(b) |
498,382 | 16,715,732 | ||||||
Iovance Biotherapeutics Inc.(a) |
167,949 | 4,141,622 | ||||||
Mirati Therapeutics Inc.(a) |
125,962 | 22,283,937 | ||||||
Natera Inc.(a)(b) |
297,300 | 33,131,112 | ||||||
Neurocrine Biosciences Inc.(a) |
358,269 | 34,361,580 | ||||||
Novavax Inc.(a)(b) |
283,059 | 58,680,961 | ||||||
Sarepta Therapeutics Inc.(a)(b) |
292,457 | 27,046,423 | ||||||
Seagen Inc.(a)(b) |
456,747 | 77,555,641 | ||||||
Ultragenyx Pharmaceutical Inc.(a)(b) |
182,083 | 16,422,066 | ||||||
|
|
|||||||
559,731,163 | ||||||||
Building Products — 2.0% | ||||||||
Advanced Drainage Systems Inc. |
231,775 | 25,071,102 | ||||||
Allegion PLC |
261,869 | 34,613,844 | ||||||
Armstrong World Industries Inc. |
86,877 | 8,294,147 |
Security | Shares | Value | ||||||
Building Products (continued) | ||||||||
AZEK Co. Inc. (The)(a) |
235,002 | $ | 8,584,623 | |||||
Carlisle Companies Inc. |
74,588 | 14,827,349 | ||||||
Carrier Global Corp. |
1,560,411 | 80,766,873 | ||||||
Fortune Brands Home & Security Inc. |
133,437 | 11,931,937 | ||||||
Trane Technologies PLC |
445,705 | 76,950,968 | ||||||
Trex Co. Inc.(a)(b) |
443,472 | 45,203,101 | ||||||
|
|
|||||||
306,243,944 | ||||||||
Capital Markets — 3.3% | ||||||||
Ameriprise Financial Inc. |
243,706 | 64,367,629 | ||||||
Apollo Global Management Inc. |
693,129 | 42,689,815 | ||||||
Ares Management Corp., Class A |
463,238 | 34,200,862 | ||||||
FactSet Research Systems Inc. |
125,126 | 49,397,242 | ||||||
LPL Financial Holdings Inc. |
305,127 | 47,831,709 | ||||||
MarketAxess Holdings Inc. |
142,434 | 59,920,559 | ||||||
Morningstar Inc. |
81,217 | 21,037,639 | ||||||
MSCI Inc. |
217,498 | 132,312,733 | ||||||
Raymond James Financial Inc. |
35,721 | 3,296,334 | ||||||
T Rowe Price Group Inc. |
284,373 | 55,936,169 | ||||||
|
|
|||||||
510,990,691 | ||||||||
Chemicals — 1.1% | ||||||||
Axalta Coating Systems Ltd.(a)(b) |
140,158 | 4,091,212 | ||||||
Celanese Corp. |
155,088 | 23,362,456 | ||||||
Chemours Co. (The) |
320,796 | 9,322,332 | ||||||
Diversey Holdings Ltd.(a)(b) |
150,140 | 2,408,246 | ||||||
FMC Corp. |
124,229 | 11,374,407 | ||||||
LyondellBasell Industries NV, Class A |
122,392 | 11,486,489 | ||||||
Olin Corp. |
41,434 | 1,999,191 | ||||||
PPG Industries Inc. |
380,796 | 54,457,636 | ||||||
RPM International Inc. |
285,768 | 22,189,885 | ||||||
Scotts Miracle-Gro Co. (The) |
157,147 | 23,000,035 | ||||||
Westlake Chemical Corp. |
25,142 | 2,291,442 | ||||||
|
|
|||||||
165,983,331 | ||||||||
Commercial Services & Supplies — 1.9% | ||||||||
Cintas Corp. |
313,025 | 119,156,096 | ||||||
Copart Inc.(a) |
799,220 | 110,867,798 | ||||||
IAA Inc.(a) |
516,889 | 28,206,633 | ||||||
MSA Safety Inc. |
39,974 | 5,824,212 | ||||||
Rollins Inc. |
806,820 | 28,504,951 | ||||||
|
|
|||||||
292,559,690 | ||||||||
Communications Equipment — 0.6% | ||||||||
Arista Networks Inc.(a) |
206,384 | 70,921,798 | ||||||
CommScope Holding Co. Inc.(a)(b) |
776,434 | 10,551,738 | ||||||
Ubiquiti Inc. |
22,134 | 6,610,762 | ||||||
|
|
|||||||
88,084,298 | ||||||||
Consumer Finance — 1.0% | ||||||||
Credit Acceptance Corp.(a)(b) |
2,684 | 1,570,945 | ||||||
Discover Financial Services |
631,108 | 77,531,618 | ||||||
Synchrony Financial |
407,502 | 19,918,698 | ||||||
Upstart Holdings Inc.(a)(b) |
172,783 | 54,675,452 | ||||||
|
|
|||||||
153,696,713 | ||||||||
Containers & Packaging — 0.6% | ||||||||
Avery Dennison Corp. |
168,457 | 34,905,975 | ||||||
Ball Corp. |
364,712 | 32,813,139 | ||||||
Crown Holdings Inc. |
59,560 | 6,002,457 | ||||||
Graphic Packaging Holding Co. |
301,486 | 5,740,293 | ||||||
Sealed Air Corp. |
311,086 | 17,044,402 | ||||||
|
|
|||||||
96,506,266 |
74 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Growth ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Distributors — 0.4% | ||||||||
Pool Corp. |
149,228 | $ | 64,826,136 | |||||
|
|
|||||||
Diversified Consumer Services — 0.5% | ||||||||
Bright Horizons Family Solutions Inc.(a)(b) |
185,814 | 25,906,188 | ||||||
Chegg Inc.(a)(b) |
417,269 | 28,382,637 | ||||||
frontdoor Inc.(a) |
222,689 | 9,330,669 | ||||||
H&R Block Inc. |
549,926 | 13,748,150 | ||||||
Mister Car Wash Inc.(a) |
125,888 | 2,297,456 | ||||||
|
|
|||||||
79,665,100 | ||||||||
Electric Utilities — 0.1% | ||||||||
NRG Energy Inc. |
426,716 | 17,422,814 | ||||||
|
|
|||||||
Electrical Equipment — 1.6% | ||||||||
Generac Holdings Inc.(a)(b) |
234,373 | 95,781,214 | ||||||
Plug Power Inc.(a)(b) |
1,961,350 | 50,092,879 | ||||||
Rockwell Automation Inc. |
270,168 | 79,440,199 | ||||||
Vertiv Holdings Co.(b) |
1,075,965 | 25,919,997 | ||||||
|
|
|||||||
251,234,289 | ||||||||
Electronic Equipment, Instruments & Components — 3.3% | ||||||||
Amphenol Corp., Class A |
1,587,731 | 116,269,541 | ||||||
CDW Corp./DE |
524,474 | 95,464,757 | ||||||
Cognex Corp. |
651,617 | 52,272,716 | ||||||
Coherent Inc.(a) |
84,006 | 21,009,060 | ||||||
Corning Inc. |
986,161 | 35,985,015 | ||||||
IPG Photonics Corp.(a)(b) |
9,884 | 1,565,626 | ||||||
Jabil Inc. |
431,316 | 25,175,915 | ||||||
Keysight Technologies Inc.(a)(b) |
310,216 | 50,965,387 | ||||||
Vontier Corp. |
347,240 | 11,667,264 | ||||||
Zebra Technologies Corp., Class A(a) |
203,517 | 104,896,732 | ||||||
|
|
|||||||
515,272,013 | ||||||||
Energy Equipment & Services — 0.0% | ||||||||
Halliburton Co. |
178,175 | 3,852,144 | ||||||
|
|
|||||||
Entertainment — 2.2% | ||||||||
Live Nation Entertainment Inc.(a)(b) |
195,351 | 17,802,337 | ||||||
Madison Square Garden Sports Corp.(a) |
27,477 | 5,109,348 | ||||||
Playtika Holding Corp.(a)(b) |
398,068 | 10,998,619 | ||||||
Roku Inc.(a) |
445,584 | 139,623,746 | ||||||
Skillz Inc.(a)(b) |
1,131,025 | 11,106,666 | ||||||
Spotify Technology SA(a)(b) |
522,560 | 117,753,670 | ||||||
Take-Two Interactive Software Inc.(a) |
87,985 | 13,555,849 | ||||||
World Wrestling Entertainment Inc., Class A |
146,338 | 8,232,976 | ||||||
Zynga Inc., Class A(a)(b) |
1,832,448 | 13,798,333 | ||||||
|
|
|||||||
337,981,544 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 1.8% | ||||||||
CoreSite Realty Corp. |
131,201 | 18,176,586 | ||||||
Equity LifeStyle Properties Inc. |
351,659 | 27,464,568 | ||||||
Extra Space Storage Inc. |
44,338 | 7,448,341 | ||||||
Iron Mountain Inc. |
772,696 | 33,573,641 | ||||||
Lamar Advertising Co., Class A |
288,568 | 32,738,040 | ||||||
SBA Communications Corp. |
69,358 | 22,927,674 | ||||||
Simon Property Group Inc. |
1,084,385 | 140,937,518 | ||||||
|
|
|||||||
283,266,368 | ||||||||
Food Products — 1.1% | ||||||||
Beyond Meat Inc.(a)(b) |
192,324 | 20,244,024 | ||||||
Darling Ingredients Inc.(a) |
32,482 | 2,335,456 | ||||||
Freshpet Inc.(a)(b) |
156,409 | 22,318,000 | ||||||
Hershey Co. (The) |
479,479 | 81,151,821 | ||||||
Kellogg Co. |
428,492 | 27,389,209 | ||||||
Lamb Weston Holdings Inc. |
165,666 | 10,166,922 |
Security | Shares | Value | ||||||
Food Products (continued) | ||||||||
Pilgrim’s Pride Corp.(a) |
73,177 | $ | 2,127,987 | |||||
|
|
|||||||
165,733,419 | ||||||||
Health Care Equipment & Supplies — 6.1% | ||||||||
ABIOMED Inc.(a) |
168,948 | 54,995,953 | ||||||
Dexcom Inc.(a) |
368,934 | 201,755,247 | ||||||
Figs Inc., Class A(a)(b) |
36,399 | 1,351,859 | ||||||
Globus Medical Inc., Class A(a) |
14,939 | 1,144,626 | ||||||
IDEXX Laboratories Inc.(a) |
323,851 | 201,402,937 | ||||||
Insulet Corp.(a)(b) |
253,442 | 72,035,820 | ||||||
Masimo Corp.(a) |
139,034 | 37,637,894 | ||||||
Novocure Ltd.(a)(b) |
392,333 | 45,577,325 | ||||||
Penumbra Inc.(a) |
129,427 | 34,492,296 | ||||||
ResMed Inc. |
495,368 | 130,554,236 | ||||||
STERIS PLC |
44,743 | 9,140,100 | ||||||
Tandem Diabetes Care Inc.(a)(b) |
219,880 | 26,249,274 | ||||||
Teleflex Inc. |
31,374 | 11,813,880 | ||||||
West Pharmaceutical Services Inc. |
281,049 | 119,316,542 | ||||||
|
|
|||||||
947,467,989 | ||||||||
Health Care Providers & Services — 1.2% | ||||||||
agilon health Inc.(a)(b) |
244,662 | 6,412,591 | ||||||
Amedisys Inc.(a) |
108,636 | 16,197,628 | ||||||
Cardinal Health Inc. |
658,126 | 32,550,912 | ||||||
Chemed Corp.(b) |
15,550 | 7,232,616 | ||||||
DaVita Inc.(a) |
186,058 | 21,631,103 | ||||||
Encompass Health Corp. |
213,914 | 16,052,106 | ||||||
Guardant Health Inc.(a)(b) |
344,184 | 43,026,442 | ||||||
McKesson Corp. |
85,547 | 17,056,361 | ||||||
Molina Healthcare Inc.(a) |
33,248 | 9,020,515 | ||||||
Oak Street Health Inc.(a)(b) |
339,749 | 14,449,525 | ||||||
|
|
|||||||
183,629,799 | ||||||||
Health Care Technology — 1.0% | ||||||||
Certara Inc.(a)(b) |
180,806 | 5,984,678 | ||||||
Veeva Systems Inc., Class A(a) |
524,146 | 151,043,153 | ||||||
|
|
|||||||
157,027,831 | ||||||||
Hotels, Restaurants & Leisure — 5.2% | ||||||||
Boyd Gaming Corp.(a) |
66,302 | 4,194,264 | ||||||
Caesars Entertainment Inc.(a)(b) |
485,428 | 54,503,856 | ||||||
Chipotle Mexican Grill Inc.(a) |
107,392 | 195,187,108 | ||||||
Choice Hotels International Inc. |
132,140 | 16,698,532 | ||||||
Churchill Downs Inc. |
141,285 | 33,919,703 | ||||||
Darden Restaurants Inc. |
338,512 | 51,274,413 | ||||||
Domino’s Pizza Inc. |
95,727 | 45,657,950 | ||||||
DraftKings Inc., Class A(a)(b) |
1,157,942 | 55,766,487 | ||||||
Expedia Group Inc.(a) |
553,870 | 90,779,293 | ||||||
Hilton Worldwide Holdings Inc.(a) |
701,345 | 92,654,688 | ||||||
Penn National Gaming Inc.(a)(b) |
37,297 | 2,702,540 | ||||||
Planet Fitness Inc., Class A(a)(b) |
217,578 | 17,090,752 | ||||||
Six Flags Entertainment Corp.(a) |
112,024 | 4,761,020 | ||||||
Travel + Leisure Co. |
213,672 | 11,651,534 | ||||||
Vail Resorts Inc.(a) |
152,993 | 51,107,312 | ||||||
Wendy’s Co. (The) |
674,793 | 14,629,512 | ||||||
Wyndham Hotels & Resorts Inc. |
219,548 | 16,946,910 | ||||||
Wynn Resorts Ltd.(a) |
405,007 | 34,324,343 | ||||||
Yum China Holdings Inc. |
124,328 | 7,224,700 | ||||||
Yum! Brands Inc. |
96,107 | 11,754,847 | ||||||
|
|
|||||||
812,829,764 | ||||||||
Household Durables — 1.0% | ||||||||
DR Horton Inc. |
526,650 | 44,222,801 | ||||||
NVR Inc.(a) |
8,283 | 39,709,365 |
S C H E D U L E O F I N V E S T M E N T S |
75 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Growth ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Household Durables (continued) | ||||||||
PulteGroup Inc. |
288,264 | $ | 13,237,083 | |||||
Tempur Sealy International Inc. |
697,491 | 32,370,557 | ||||||
Toll Brothers Inc. |
172,498 | 9,537,414 | ||||||
TopBuild Corp.(a)(b) |
105,245 | 21,555,228 | ||||||
|
|
|||||||
160,632,448 | ||||||||
Household Products — 0.4% | ||||||||
Church & Dwight Co. Inc. |
49,339 | 4,073,921 | ||||||
Clorox Co. (The) |
381,590 | 63,195,120 | ||||||
|
|
|||||||
67,269,041 | ||||||||
Independent Power and Renewable Electricity Producers — 0.0% | ||||||||
Brookfield Renewable Corp., Class A |
121,564 | 4,717,899 | ||||||
|
|
|||||||
Insurance — 0.4% | ||||||||
Alleghany Corp.(a) |
5,587 | 3,488,579 | ||||||
Arch Capital Group Ltd.(a) |
349,360 | 13,338,565 | ||||||
Brown & Brown Inc. |
51,572 | 2,859,667 | ||||||
Erie Indemnity Co., Class A, NVS |
65,695 | 11,721,302 | ||||||
Everest Re Group Ltd. |
34,048 | 8,538,557 | ||||||
GoHealth Inc., Class A(a)(b) |
155,775 | 783,548 | ||||||
Lemonade Inc.(a)(b) |
15,064 | 1,009,439 | ||||||
Lincoln National Corp. |
108,423 | 7,454,081 | ||||||
Markel Corp.(a) |
8,551 | 10,219,557 | ||||||
RenaissanceRe Holdings Ltd. |
78,970 | 11,008,418 | ||||||
|
|
|||||||
70,421,713 | ||||||||
Interactive Media & Services — 2.5% | ||||||||
Match Group Inc.(a)(b) |
1,057,350 | 165,993,376 | ||||||
Pinterest Inc., Class A(a) |
2,120,085 | 108,018,331 | ||||||
TripAdvisor Inc.(a) |
228,953 | 7,750,059 | ||||||
Twitter Inc.(a) |
315,336 | 19,043,141 | ||||||
Vimeo Inc.(a)(b) |
506,934 | 14,888,652 | ||||||
Zillow Group Inc., Class A(a) |
227,595 | 20,160,365 | ||||||
Zillow Group Inc., Class C, NVS(a)(b) |
648,998 | 57,202,684 | ||||||
|
|
|||||||
393,056,608 | ||||||||
Internet & Direct Marketing Retail — 1.6% | ||||||||
DoorDash Inc., Class A(a) |
486,274 | 100,162,719 | ||||||
Etsy Inc.(a) |
484,026 | 100,658,047 | ||||||
Wayfair Inc., Class A(a)(b) |
160,301 | 40,958,508 | ||||||
|
|
|||||||
241,779,274 | ||||||||
IT Services — 6.2% | ||||||||
Broadridge Financial Solutions Inc. |
402,508 | 67,073,933 | ||||||
Cloudflare Inc., Class A(a) |
931,666 | 104,952,175 | ||||||
EPAM Systems Inc.(a) |
205,777 | 117,391,663 | ||||||
Euronet Worldwide Inc.(a) |
138,343 | 17,608,297 | ||||||
FleetCor Technologies Inc.(a) |
72,052 | 18,825,026 | ||||||
Gartner Inc.(a) |
310,916 | 94,481,154 | ||||||
Genpact Ltd. |
34,730 | 1,650,022 | ||||||
Globant SA(a) |
154,910 | 43,531,259 | ||||||
GoDaddy Inc., Class A(a)(b) |
64,941 | 4,526,388 | ||||||
Jack Henry & Associates Inc. |
72,973 | 11,971,950 | ||||||
MongoDB Inc.(a)(b) |
236,907 | 111,704,020 | ||||||
Okta Inc.(a)(b) |
474,909 | 112,714,902 | ||||||
Paychex Inc. |
1,073,896 | 120,759,605 | ||||||
Sabre Corp.(a) |
1,202,419 | 14,236,641 | ||||||
Shift4 Payments Inc., Class A(a)(b) |
162,420 | 12,590,799 | ||||||
StoneCo Ltd., Class A(a) |
788,904 | 27,390,747 | ||||||
Switch Inc., Class A |
441,023 | 11,197,574 | ||||||
Western Union Co. (The) |
394,556 | 7,977,922 | ||||||
WEX Inc.(a)(b) |
114,869 | 20,233,026 |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
Wix.com Ltd.(a)(b) |
204,337 | $ | 40,043,922 | |||||
|
|
|||||||
960,861,025 | ||||||||
Leisure Products — 1.0% | ||||||||
Brunswick Corp./DE |
37,778 | 3,599,110 | ||||||
Mattel Inc.(a)(b) |
1,336,396 | 24,803,510 | ||||||
Peloton Interactive Inc., Class A(a)(b) |
1,008,782 | 87,814,473 | ||||||
Polaris Inc. |
151,519 | 18,130,764 | ||||||
YETI Holdings Inc.(a) |
327,876 | 28,095,694 | ||||||
|
|
|||||||
162,443,551 | ||||||||
Life Sciences Tools & Services — 5.6% | ||||||||
10X Genomics Inc., Class A(a)(b) |
320,529 | 46,662,612 | ||||||
Adaptive Biotechnologies Corp.(a)(b) |
373,302 | 12,688,535 | ||||||
Agilent Technologies Inc. |
1,043,359 | 164,360,343 | ||||||
Avantor Inc.(a) |
2,215,160 | 90,600,044 | ||||||
Bio-Techne Corp. |
147,777 | 71,608,301 | ||||||
Bruker Corp. |
392,140 | 30,626,134 | ||||||
Charles River Laboratories International Inc.(a) |
178,258 | 73,561,729 | ||||||
IQVIA Holdings Inc.(a)(b) |
360,023 | 86,239,909 | ||||||
Maravai LifeSciences Holdings Inc., Class A(a) |
389,248 | 19,104,292 | ||||||
Mettler-Toledo International Inc.(a) |
87,781 | 120,906,038 | ||||||
PPD Inc.(a) |
248,120 | 11,609,535 | ||||||
Repligen Corp.(a)(b) |
197,586 | 57,100,378 | ||||||
Sotera Health Co.(a) |
380,847 | 9,959,149 | ||||||
Syneos Health Inc.(a) |
51,170 | 4,476,352 | ||||||
Waters Corp.(a) |
217,168 | 77,594,126 | ||||||
|
|
|||||||
877,097,477 | ||||||||
Machinery — 1.3% | ||||||||
AGCO Corp. |
23,185 | 2,840,858 | ||||||
Allison Transmission Holdings Inc. |
305,944 | 10,805,942 | ||||||
Donaldson Co. Inc. |
58,788 | 3,375,019 | ||||||
Graco Inc. |
398,221 | 27,863,524 | ||||||
Lincoln Electric Holdings Inc. |
220,023 | 28,336,762 | ||||||
Middleby Corp. (The)(a) |
62,807 | 10,709,222 | ||||||
Nordson Corp. |
37,712 | 8,981,113 | ||||||
Parker-Hannifin Corp. |
81,886 | 22,896,963 | ||||||
Toro Co. (The) |
389,544 | 37,945,481 | ||||||
Xylem Inc./NY |
449,821 | 55,633,861 | ||||||
|
|
|||||||
209,388,745 | ||||||||
Media — 0.2% | ||||||||
Altice USA Inc., Class A(a) |
576,713 | 11,949,493 | ||||||
Cable One Inc. |
10,945 | 19,844,708 | ||||||
Nexstar Media Group Inc., Class A |
10,612 | 1,612,600 | ||||||
|
|
|||||||
33,406,801 | ||||||||
Metals & Mining — 0.0% | ||||||||
Steel Dynamics Inc. |
138,974 | 8,127,200 | ||||||
|
|
|||||||
Multiline Retail — 0.1% | ||||||||
Nordstrom Inc.(a)(b) |
361,846 | 9,570,827 | ||||||
|
|
|||||||
Oil, Gas & Consumable Fuels — 1.5% | ||||||||
Cabot Oil & Gas Corp. |
177,185 | 3,855,546 | ||||||
Cheniere Energy Inc.(a) |
898,062 | 87,713,715 | ||||||
Cimarex Energy Co. |
76,120 | 6,637,664 | ||||||
Continental Resources Inc./OK |
25,396 | 1,172,025 | ||||||
Diamondback Energy Inc. |
328,202 | 31,070,883 | ||||||
Hess Corp. |
71,546 | 5,588,458 | ||||||
New Fortress Energy Inc. |
100,445 | 2,787,349 | ||||||
Occidental Petroleum Corp. |
408,872 | 12,094,434 | ||||||
Pioneer Natural Resources Co. |
369,105 | 61,459,674 |
76 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Growth ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Texas Pacific Land Corp.(b) |
22,489 | $ | 27,197,297 | |||||
|
|
|||||||
239,577,045 | ||||||||
Paper & Forest Products — 0.0% | ||||||||
Louisiana-Pacific Corp. |
28,213 | 1,731,432 | ||||||
|
|
|||||||
Personal Products — 0.0% | ||||||||
Herbalife Nutrition Ltd.(a)(b) |
67,186 | 2,847,343 | ||||||
|
|
|||||||
Pharmaceuticals — 0.3% | ||||||||
Catalent Inc.(a)(b) |
145,170 | 19,317,772 | ||||||
Royalty Pharma PLC, Class A |
737,332 | 26,647,178 | ||||||
|
|
|||||||
45,964,950 | ||||||||
Professional Services — 2.3% | ||||||||
Booz Allen Hamilton Holding Corp. |
510,575 | 40,514,126 | ||||||
CoStar Group Inc.(a) |
1,161,752 | 99,980,377 | ||||||
Equifax Inc. |
177,434 | 44,965,324 | ||||||
Legalzoomcom Inc.(a)(b) |
43,011 | 1,135,491 | ||||||
Robert Half International Inc. |
369,243 | 37,046,150 | ||||||
TransUnion |
498,380 | 55,973,058 | ||||||
Verisk Analytics Inc. |
387,652 | 77,635,066 | ||||||
|
|
|||||||
357,249,592 | ||||||||
Real Estate Management & Development — 0.1% | ||||||||
CBRE Group Inc., Class A(a) |
67,097 | 6,532,564 | ||||||
Opendoor Technologies Inc.(a)(b) |
346,275 | 7,109,026 | ||||||
|
|
|||||||
13,641,590 | ||||||||
Road & Rail — 1.8% | ||||||||
JB Hunt Transport Services Inc. |
286,158 | 47,851,341 | ||||||
Kansas City Southern |
92,785 | 25,111,332 | ||||||
Landstar System Inc. |
130,564 | 20,605,611 | ||||||
Lyft Inc., Class A(a) |
1,088,824 | 58,350,078 | ||||||
Old Dominion Freight Line Inc. |
359,853 | 102,910,761 | ||||||
TuSimple Holdings Inc., Class A(a)(b) |
15,769 | 585,503 | ||||||
XPO Logistics Inc.(a) |
317,966 | 25,303,734 | ||||||
|
|
|||||||
280,718,360 | ||||||||
Semiconductors & Semiconductor Equipment — 4.8% | ||||||||
Allegro MicroSystems Inc.(a)(b) |
153,866 | 4,917,557 | ||||||
Brooks Automation Inc. |
232,022 | 23,747,452 | ||||||
Enphase Energy Inc.(a)(b) |
503,523 | 75,513,344 | ||||||
Entegris Inc. |
516,019 | 64,966,792 | ||||||
Microchip Technology Inc. |
866,742 | 133,036,230 | ||||||
MKS Instruments Inc. |
178,841 | 26,988,895 | ||||||
Monolithic Power Systems Inc. |
171,174 | 82,964,614 | ||||||
ON Semiconductor Corp.(a) |
878,077 | 40,189,584 | ||||||
Skyworks Solutions Inc. |
298,464 | 49,180,898 | ||||||
Teradyne Inc. |
634,369 | 69,254,064 | ||||||
Universal Display Corp. |
165,652 | 28,319,866 | ||||||
Xilinx Inc. |
940,910 | 142,068,001 | ||||||
|
|
|||||||
741,147,297 | ||||||||
Software — 18.7% | ||||||||
Alteryx Inc., Class A(a)(b) |
226,921 | 16,587,925 | ||||||
Anaplan Inc.(a) |
538,169 | 32,769,111 | ||||||
ANSYS Inc.(a) |
138,902 | 47,289,186 | ||||||
Aspen Technology Inc.(a)(b) |
260,283 | 31,962,752 | ||||||
Avalara Inc.(a)(b) |
324,662 | 56,741,178 | ||||||
Bentley Systems Inc., Class B(b) |
528,840 | 32,068,858 | ||||||
Bill.com Holdings Inc.(a)(b) |
302,203 | 80,673,091 | ||||||
C3.ai Inc., Class A(a)(b) |
34,869 | 1,615,830 | ||||||
Cadence Design Systems Inc.(a) |
1,051,710 | 159,270,962 | ||||||
CDK Global Inc. |
70,430 | 2,996,797 |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Citrix Systems Inc. |
169,892 | $ | 18,241,304 | |||||
Coupa Software Inc.(a)(b) |
280,474 | 61,474,291 | ||||||
Crowdstrike Holdings Inc., Class A(a) |
754,232 | 185,375,141 | ||||||
Datadog Inc., Class A(a) |
888,138 | 125,538,306 | ||||||
DocuSign Inc.(a) |
729,942 | 187,908,969 | ||||||
DoubleVerify Holdings Inc.(a)(b) |
57,794 | 1,974,243 | ||||||
Dropbox Inc., Class A(a) |
1,168,084 | 34,131,415 | ||||||
Duck Creek Technologies Inc.(a) |
60,638 | 2,682,625 | ||||||
Dynatrace Inc.(a) |
709,620 | 50,361,731 | ||||||
Elastic NV(a)(b) |
265,508 | 39,558,037 | ||||||
Everbridge Inc.(a)(b) |
146,952 | 22,195,630 | ||||||
Fair Isaac Corp.(a) |
105,475 | 41,971,667 | ||||||
Five9 Inc.(a) |
255,968 | 40,888,328 | ||||||
Fortinet Inc.(a) |
512,357 | 149,628,738 | ||||||
HubSpot Inc.(a) |
170,375 | 115,188,834 | ||||||
Jamf Holding Corp.(a)(b) |
169,894 | 6,544,317 | ||||||
Mandiant Inc. |
260,424 | 4,635,547 | ||||||
Manhattan Associates Inc.(a) |
130,074 | 19,905,224 | ||||||
McAfee Corp., Class A |
199,508 | 4,411,122 | ||||||
Medallia Inc.(a) |
224,423 | 7,601,207 | ||||||
nCino Inc.(a)(b) |
215,038 | 15,274,149 | ||||||
NCR Corp.(a)(b) |
163,741 | 6,346,601 | ||||||
New Relic Inc.(a)(b) |
197,683 | 14,187,709 | ||||||
NortonLifeLock Inc. |
551,135 | 13,943,716 | ||||||
Nuance Communications Inc.(a) |
415,033 | 22,843,416 | ||||||
Nutanix Inc., Class A(a)(b) |
738,061 | 27,824,900 | ||||||
Palantir Technologies Inc., Class A(a) |
6,216,508 | 149,444,852 | ||||||
Palo Alto Networks Inc.(a)(b) |
364,729 | 174,705,191 | ||||||
Paycom Software Inc.(a) |
193,727 | 96,040,160 | ||||||
Paycor HCM Inc.(a)(b) |
56,566 | 1,988,861 | ||||||
Paylocity Holding Corp.(a) |
143,618 | 40,270,487 | ||||||
Pegasystems Inc. |
148,322 | 18,851,726 | ||||||
Procore Technologies Inc.(a)(b) |
27,954 | 2,497,410 | ||||||
PTC Inc.(a) |
403,994 | 48,394,441 | ||||||
RingCentral Inc., Class A(a) |
308,021 | 66,994,568 | ||||||
Smartsheet Inc., Class A(a) |
459,963 | 31,654,654 | ||||||
Splunk Inc.(a)(b) |
625,878 | 90,570,805 | ||||||
Synopsys Inc.(a) |
367,820 | 110,128,986 | ||||||
Teradata Corp.(a) |
353,138 | 20,252,464 | ||||||
Trade Desk Inc. (The), Class A(a)(b) |
1,638,291 | 115,171,857 | ||||||
Tyler Technologies Inc.(a)(b) |
133,645 | 61,296,279 | ||||||
Unity Software Inc.(a)(b) |
569,051 | 71,842,689 | ||||||
Zendesk Inc.(a) |
455,259 | 52,987,595 | ||||||
Zscaler Inc.(a) |
295,134 | 77,390,038 | ||||||
|
|
|||||||
2,913,095,920 | ||||||||
Specialty Retail — 4.5% | ||||||||
AutoZone Inc.(a) |
17,662 | 29,989,899 | ||||||
Bath & Body Works Inc. |
539,533 | 34,006,765 | ||||||
Best Buy Co. Inc. |
220,483 | 23,307,258 | ||||||
Burlington Stores Inc.(a) |
239,603 | 67,944,223 | ||||||
CarMax Inc.(a) |
53,417 | 6,835,239 | ||||||
Carvana Co.(a)(b) |
294,613 | 88,837,604 | ||||||
Five Below Inc.(a)(b) |
211,163 | 37,335,730 | ||||||
Floor & Decor Holdings Inc., Class A(a) |
390,073 | 47,116,918 | ||||||
GameStop Corp., Class A(a)(b) |
246,118 | 43,186,326 | ||||||
Leslie’s Inc.(a)(b) |
451,375 | 9,271,243 | ||||||
Lithia Motors Inc. |
10,036 | 3,181,813 | ||||||
O’Reilly Automotive Inc.(a) |
79,719 | 48,713,092 | ||||||
Petco Health & Wellness Co. Inc.(a)(b) |
17,824 | 376,086 | ||||||
RH(a)(b) |
65,757 | 43,854,001 |
S C H E D U L E O F I N V E S T M E N T S |
77 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Growth ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Specialty Retail (continued) | ||||||||
Tractor Supply Co. |
439,257 | $ | 88,997,861 | |||||
Ulta Beauty Inc.(a)(b) |
203,909 | 73,594,836 | ||||||
Victoria’s Secret & Co.(a) |
169,715 | 9,378,451 | ||||||
Vroom Inc.(a)(b) |
109,131 | 2,408,521 | ||||||
Williams-Sonoma Inc. |
218,134 | 38,681,702 | ||||||
|
|
|||||||
697,017,568 | ||||||||
Technology Hardware, Storage & Peripherals — 0.8% | ||||||||
HP Inc. |
1,599,275 | 43,756,164 | ||||||
NetApp Inc. |
565,592 | 50,767,538 | ||||||
Pure Storage Inc., Class A(a) |
950,768 | 23,921,323 | ||||||
|
|
|||||||
118,445,025 | ||||||||
Textiles, Apparel & Luxury Goods — 1.6% | ||||||||
Columbia Sportswear Co. |
9,384 | 899,362 | ||||||
Deckers Outdoor Corp.(a) |
14,381 | 5,180,036 | ||||||
Hanesbrands Inc. |
787,525 | 13,513,929 | ||||||
Lululemon Athletica Inc.(a) |
436,478 | 176,642,647 | ||||||
Skechers U.S.A. Inc., Class A(a) |
55,948 | 2,356,530 | ||||||
Tapestry Inc. |
105,852 | 3,918,641 | ||||||
VF Corp. |
793,386 | 53,148,928 | ||||||
|
|
|||||||
255,660,073 | ||||||||
Thrifts & Mortgage Finance — 0.1% | ||||||||
Rocket Companies Inc., Class A |
531,092 | 8,518,715 | ||||||
UWM Holdings Corp. |
170,806 | 1,187,102 | ||||||
|
|
|||||||
9,705,817 | ||||||||
Trading Companies & Distributors — 1.4% | ||||||||
Core & Main Inc., Class A(a)(b) |
68,997 | 1,808,412 | ||||||
Fastenal Co. |
1,945,288 | 100,396,314 | ||||||
SiteOne Landscape Supply Inc.(a)(b) |
87,296 | 17,412,933 |
Security | Shares | Value | ||||||
Trading Companies & Distributors (continued) | ||||||||
United Rentals Inc.(a)(b) |
96,183 | $ | 33,753,500 | |||||
WW Grainger Inc. |
147,053 | 57,800,652 | ||||||
|
|
|||||||
211,171,811 | ||||||||
|
|
|||||||
Total
Common Stocks — 99.9% |
15,549,261,673 | |||||||
|
|
|||||||
Short-Term Investments | ||||||||
Money Market Funds — 5.7% | ||||||||
BlackRock
Cash Funds: Institutional, |
871,120,694 | 871,556,254 | ||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(c)(d) |
19,550,000 | 19,550,000 | ||||||
|
|
|||||||
891,106,254 | ||||||||
|
|
|||||||
Total
Short-Term Investments — 5.7% |
|
891,106,254 | ||||||
|
|
|||||||
Total
Investments in Securities — 105.6% |
|
16,440,367,927 | ||||||
Other Assets, Less Liabilities — (5.6)% |
|
(869,851,922 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 15,570,516,005 | |||||
|
|
(a) |
Non-income producing security. |
(b) |
All or a portion of this security is on loan. |
(c) |
Affiliate of the Fund. |
(d) |
Annualized 7-day yield as of period end. |
(e) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer |
Value at 03/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 09/30/21 |
Shares Held at 09/30/21 |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 866,890,581 | $ | 4,729,490 | (a) | $ | — | $ | 11,711 | $ | (75,528 | ) | $ | 871,556,254 | 871,120,694 | $ | 1,566,774 | (b) | $ | — | ||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
16,190,000 | 3,360,000 | (a) | — | — | — | 19,550,000 | 19,550,000 | 777 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | 11,711 | $ | (75,528 | ) | $ | 891,106,254 | $ | 1,567,551 | $ | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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. |
78 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Growth 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 |
||||||||||||||||
S&P 400 E-Mini Index |
25 | 12/17/21 | $ | 6,583 | $ | (167,887 | ) | |||||||||
S&P 500 E-Mini Index |
56 | 12/17/21 | 12,034 | (484,541 | ) | |||||||||||
|
|
|||||||||||||||
$ | (652,428 | ) | ||||||||||||||
|
|
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
||||
Equity Contracts |
||||
|
||||
Liabilities — Derivative Financial Instruments |
||||
Futures contracts |
||||
Unrealized depreciation on futures contracts(a) |
$ | 652,428 | ||
|
|
(a) |
Net cumulative appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
||||
Equity Contracts |
||||
|
||||
Net Realized Gain (Loss) from: |
||||
Futures contracts |
$ | 2,152,933 | ||
|
|
|||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures contracts |
$ | (809,987 | ) | |
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 17,045,443 |
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 15,549,261,673 | $ | — | $ | — | $ | 15,549,261,673 | ||||||||
Money Market Funds |
891,106,254 | — | — | 891,106,254 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 16,440,367,927 | $ | — | $ | — | $ | 16,440,367,927 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative financial instruments(a) |
||||||||||||||||
Liabilities |
||||||||||||||||
Futures Contracts |
$ | (652,428 | ) | $ | — | $ | — | $ | (652,428 | ) | ||||||
|
|
|
|
|
|
|
|
(a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
S C H E D U L E O F I N V E S T M E N T S |
79 |
Schedule of Investments (unaudited) September 30, 2021 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Aerospace & Defense — 1.2% | ||||||||
BWX Technologies Inc. |
46,463 | $ | 2,502,497 | |||||
Curtiss-Wright Corp. |
80,676 | 10,179,698 | ||||||
HEICO Corp. |
60,146 | 7,931,453 | ||||||
HEICO Corp., Class A |
105,477 | 12,491,641 | ||||||
Hexcel Corp.(a) |
165,451 | 9,826,135 | ||||||
Howmet Aerospace Inc. |
717,916 | 22,398,979 | ||||||
Huntington Ingalls Industries Inc. |
79,393 | 15,327,613 | ||||||
Mercury Systems Inc.(a) |
109,368 | 5,186,230 | ||||||
Spirit AeroSystems Holdings Inc., Class A |
146,802 | 6,487,180 | ||||||
Textron Inc. |
451,247 | 31,501,553 | ||||||
TransDigm Group Inc.(a) |
73,331 | 45,800,343 | ||||||
Virgin Galactic Holdings Inc.(a)(b) |
24,603 | 622,456 | ||||||
|
|
|||||||
170,255,778 | ||||||||
Air Freight & Logistics — 0.2% | ||||||||
CH Robinson Worldwide Inc. |
212,883 | 18,520,821 | ||||||
Expeditors International of Washington Inc. |
90,346 | 10,762,919 | ||||||
GXO Logistics Inc.(a) |
28,101 | 2,204,242 | ||||||
|
|
|||||||
31,487,982 | ||||||||
Airlines — 1.1% | ||||||||
Alaska Air Group Inc.(a) |
241,609 | 14,158,287 | ||||||
American Airlines Group Inc.(a) |
1,278,718 | 26,239,293 | ||||||
Copa Holdings SA, Class A, NVS(a) |
62,120 | 5,055,326 | ||||||
JetBlue Airways Corp.(a) |
627,175 | 9,589,506 | ||||||
Southwest Airlines Co.(a) |
1,181,752 | 60,777,505 | ||||||
United Airlines Holdings Inc.(a) |
645,599 | 30,711,145 | ||||||
|
|
|||||||
146,531,062 | ||||||||
Auto Components — 0.9% | ||||||||
Aptiv PLC(a) |
439,145 | 65,419,431 | ||||||
BorgWarner Inc. |
480,416 | 20,758,775 | ||||||
Gentex Corp. |
478,196 | 15,770,904 | ||||||
Lear Corp. |
120,254 | 18,817,346 | ||||||
QuantumScape Corp.(a)(b) |
117,931 | 2,894,027 | ||||||
|
|
|||||||
123,660,483 | ||||||||
Automobiles — 0.1% | ||||||||
Harley-Davidson Inc. |
309,604 | 11,334,603 | ||||||
Thor Industries Inc. |
62,512 | 7,673,973 | ||||||
|
|
|||||||
19,008,576 | ||||||||
Banks — 5.1% | ||||||||
Bank of Hawaii Corp. |
78,278 | 6,432,103 | ||||||
Bank OZK |
248,980 | 10,701,160 | ||||||
BOK Financial Corp. |
60,505 | 5,418,223 | ||||||
Citizens Financial Group Inc. |
696,056 | 32,700,711 | ||||||
Comerica Inc. |
268,144 | 21,585,592 | ||||||
Commerce Bancshares Inc. |
212,528 | 14,808,951 | ||||||
Cullen/Frost Bankers Inc. |
113,457 | 13,458,269 | ||||||
East West Bancorp. Inc. |
279,634 | 21,682,820 | ||||||
Fifth Third Bancorp |
1,372,599 | 58,253,102 | ||||||
First Citizens BancShares Inc./NC, Class A(b) |
11,964 | 10,087,686 | ||||||
First Hawaiian Inc. |
256,844 | 7,538,371 | ||||||
First Horizon Corp. |
1,083,601 | 17,651,860 | ||||||
First Republic Bank/CA |
355,326 | 68,535,279 | ||||||
FNB Corp. |
638,947 | 7,424,564 | ||||||
Huntington Bancshares Inc./OH |
2,923,762 | 45,201,361 | ||||||
KeyCorp |
1,896,411 | 41,000,406 | ||||||
M&T Bank Corp. |
255,613 | 38,173,245 | ||||||
PacWest Bancorp |
233,316 | 10,573,881 | ||||||
People’s United Financial Inc. |
850,193 | 14,852,872 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Pinnacle Financial Partners Inc. |
148,737 | $ | 13,993,177 | |||||
Popular Inc. |
158,606 | 12,318,928 | ||||||
Prosperity Bancshares Inc. |
176,859 | 12,579,981 | ||||||
Regions Financial Corp. |
1,923,497 | 40,989,721 | ||||||
Signature Bank/New York NY |
118,863 | 32,364,018 | ||||||
Sterling Bancorp./DE |
348,413 | 8,696,389 | ||||||
SVB Financial Group(a) |
112,938 | 73,057,333 | ||||||
Synovus Financial Corp. |
270,147 | 11,856,752 | ||||||
Umpqua Holdings Corp. |
435,957 | 8,828,129 | ||||||
Webster Financial Corp. |
177,455 | 9,664,199 | ||||||
Western Alliance Bancorp |
94,621 | 10,296,657 | ||||||
Wintrust Financial Corp. |
113,610 | 9,130,836 | ||||||
Zions Bancorp. NA |
319,849 | 19,795,455 | ||||||
|
|
|||||||
709,652,031 | ||||||||
Beverages — 0.2% | ||||||||
Brown-Forman Corp., Class A |
45,441 | 2,847,788 | ||||||
Brown-Forman Corp., Class B, NVS |
182,809 | 12,250,031 | ||||||
Molson Coors Beverage Co., Class B |
355,388 | 16,482,895 | ||||||
|
|
|||||||
31,580,714 | ||||||||
Biotechnology — 0.8% | ||||||||
BioMarin Pharmaceutical Inc.(a) |
364,809 | 28,196,088 | ||||||
Exact Sciences Corp.(a)(b) |
25,365 | 2,421,089 | ||||||
Exelixis Inc.(a) |
88,264 | 1,865,901 | ||||||
Horizon Therapeutics PLC(a) |
354,955 | 38,881,771 | ||||||
Incyte Corp.(a) |
52,694 | 3,624,293 | ||||||
Ionis Pharmaceuticals Inc.(a)(b) |
21,938 | 735,800 | ||||||
Iovance Biotherapeutics Inc.(a) |
200,860 | 4,953,208 | ||||||
Mirati Therapeutics Inc.(a)(b) |
12,904 | 2,282,847 | ||||||
Natera Inc.(a)(b) |
10,543 | 1,174,912 | ||||||
Sage Therapeutics Inc.(a)(b) |
101,748 | 4,508,454 | ||||||
Seagen Inc.(a)(b) |
28,267 | 4,799,737 | ||||||
Ultragenyx Pharmaceutical Inc.(a) |
32,674 | 2,946,868 | ||||||
United Therapeutics Corp.(a) |
87,568 | 16,163,301 | ||||||
|
|
|||||||
112,554,269 | ||||||||
Building Products — 1.7% | ||||||||
A O Smith Corp. |
261,705 | 15,982,324 | ||||||
Allegion PLC |
42,497 | 5,617,253 | ||||||
Armstrong World Industries Inc. |
48,671 | 4,646,620 | ||||||
AZEK Co. Inc. (The)(a) |
98,757 | 3,607,593 | ||||||
Builders FirstSource Inc.(a) |
407,339 | 21,075,720 | ||||||
Carlisle Companies Inc. |
62,810 | 12,486,000 | ||||||
Carrier Global Corp. |
922,860 | 47,767,234 | ||||||
Fortune Brands Home & Security Inc. |
206,730 | 18,485,797 | ||||||
Lennox International Inc. |
67,141 | 19,750,868 | ||||||
Masco Corp. |
493,687 | 27,424,313 | ||||||
Owens Corning |
206,088 | 17,620,524 | ||||||
Trane Technologies PLC |
244,064 | 42,137,650 | ||||||
|
|
|||||||
236,601,896 | ||||||||
Capital Markets — 4.1% | ||||||||
Affiliated Managers Group Inc. |
82,118 | 12,407,209 | ||||||
Ameriprise Financial Inc. |
100,492 | 26,541,947 | ||||||
Ares Management Corp., Class A |
33,316 | 2,459,720 | ||||||
Carlyle Group Inc. (The) |
324,029 | 15,320,091 | ||||||
Cboe Global Markets Inc. |
212,958 | 26,376,978 | ||||||
Evercore Inc., Class A |
77,543 | 10,365,173 | ||||||
FactSet Research Systems Inc. |
10,441 | 4,121,898 | ||||||
Franklin Resources Inc. |
573,005 | 17,029,709 | ||||||
Interactive Brokers Group Inc., Class A |
158,977 | 9,910,626 | ||||||
Invesco Ltd. |
660,217 | 15,917,832 |
80 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Capital Markets (continued) | ||||||||
Janus Henderson Group PLC |
323,133 | $ | 13,355,087 | |||||
Jefferies Financial Group Inc. |
434,006 | 16,114,643 | ||||||
KKR & Co. Inc. |
1,110,000 | 67,576,800 | ||||||
Lazard Ltd., Class A |
201,675 | 9,236,715 | ||||||
Morningstar Inc. |
4,350 | 1,126,780 | ||||||
MSCI Inc. |
46,719 | 28,421,036 | ||||||
Nasdaq Inc. |
231,731 | 44,728,718 | ||||||
Northern Trust Corp. |
408,991 | 44,093,320 | ||||||
Raymond James Financial Inc. |
349,601 | 32,261,180 | ||||||
SEI Investments Co. |
216,657 | 12,847,760 | ||||||
State Street Corp. |
728,210 | 61,693,951 | ||||||
Stifel Financial Corp. |
201,958 | 13,725,066 | ||||||
T Rowe Price Group Inc. |
300,300 | 59,069,010 | ||||||
Tradeweb Markets Inc., Class A |
211,034 | 17,047,326 | ||||||
Virtu Financial Inc., Class A |
184,789 | 4,514,395 | ||||||
|
|
|||||||
566,262,970 | ||||||||
Chemicals — 3.3% | ||||||||
Albemarle Corp. |
232,505 | 50,911,620 | ||||||
Ashland Global Holdings Inc. |
109,628 | 9,770,047 | ||||||
Axalta Coating Systems Ltd.(a)(b) |
340,302 | 9,933,415 | ||||||
Celanese Corp. |
141,637 | 21,336,198 | ||||||
CF Industries Holdings Inc. |
427,763 | 23,877,731 | ||||||
Chemours Co. (The) |
158,072 | 4,593,572 | ||||||
Corteva Inc. |
1,476,644 | 62,137,180 | ||||||
Diversey Holdings Ltd.(a)(b) |
23,159 | 371,470 | ||||||
Eastman Chemical Co. |
271,846 | 27,385,766 | ||||||
Element Solutions Inc. |
458,125 | 9,932,150 | ||||||
FMC Corp. |
193,256 | 17,694,519 | ||||||
Huntsman Corp. |
417,322 | 12,348,558 | ||||||
International Flavors & Fragrances Inc. |
496,147 | 66,344,777 | ||||||
LyondellBasell Industries NV, Class A |
459,341 | 43,109,153 | ||||||
Mosaic Co. (The) |
684,997 | 24,468,093 | ||||||
NewMarket Corp. |
13,264 | 4,493,445 | ||||||
Olin Corp. |
263,050 | 12,692,162 | ||||||
PPG Industries Inc. |
272,484 | 38,967,937 | ||||||
RPM International Inc. |
105,174 | 8,166,761 | ||||||
Valvoline Inc. |
366,003 | 11,411,974 | ||||||
Westlake Chemical Corp. |
52,528 | 4,787,402 | ||||||
|
|
|||||||
464,733,930 | ||||||||
Commercial Services & Supplies — 0.7% | ||||||||
ADT Inc. |
325,946 | 2,636,903 | ||||||
Cintas Corp. |
11,115 | 4,231,036 | ||||||
Clean Harbors Inc.(a) |
100,368 | 10,425,224 | ||||||
Driven Brands Holdings Inc.(a) |
107,693 | 3,111,251 | ||||||
MSA Safety Inc. |
51,760 | 7,541,432 | ||||||
Republic Services Inc. |
420,314 | 50,462,899 | ||||||
Rollins Inc. |
31,858 | 1,125,543 | ||||||
Stericycle Inc.(a)(b) |
180,923 | 12,297,336 | ||||||
|
|
|||||||
91,831,624 | ||||||||
Communications Equipment — 1.1% | ||||||||
Arista Networks Inc.(a) |
12,644 | 4,344,984 | ||||||
Ciena Corp.(a) |
306,644 | 15,746,169 | ||||||
F5 Networks Inc.(a) |
120,774 | 24,007,456 | ||||||
Juniper Networks Inc. |
642,447 | 17,680,141 | ||||||
Lumentum Holdings Inc.(a) |
149,879 | 12,520,892 | ||||||
Motorola Solutions Inc. |
331,606 | 77,038,706 | ||||||
Ubiquiti Inc. |
1,434 | 428,293 | ||||||
Viasat Inc.(a) |
139,290 | 7,670,700 | ||||||
|
|
|||||||
159,437,341 |
Security | Shares | Value | ||||||
Construction & Engineering — 0.5% | ||||||||
AECOM(a) |
273,166 | $ | 17,250,433 | |||||
MasTec Inc.(a) |
110,985 | 9,575,786 | ||||||
Quanta Services Inc. |
274,779 | 31,275,346 | ||||||
Valmont Industries Inc. |
41,518 | 9,761,712 | ||||||
|
|
|||||||
67,863,277 | ||||||||
Construction Materials — 0.7% | ||||||||
Eagle Materials Inc. |
81,788 | 10,727,314 | ||||||
Martin Marietta Materials Inc. |
123,954 | 42,352,603 | ||||||
Vulcan Materials Co. |
264,483 | 44,739,944 | ||||||
|
|
|||||||
97,819,861 | ||||||||
Consumer Finance — 1.1% | ||||||||
Ally Financial Inc. |
716,598 | 36,582,328 | ||||||
Credit Acceptance Corp.(a)(b) |
16,174 | 9,466,642 | ||||||
Discover Financial Services |
267,661 | 32,882,154 | ||||||
OneMain Holdings Inc. |
207,744 | 11,494,475 | ||||||
Santander Consumer USA Holdings Inc. |
119,337 | 4,976,353 | ||||||
SLM Corp. |
610,615 | 10,746,824 | ||||||
Synchrony Financial |
920,277 | 44,983,140 | ||||||
|
|
|||||||
151,131,916 | ||||||||
Containers & Packaging — 2.0% | ||||||||
Amcor PLC |
3,076,572 | 35,657,469 | ||||||
AptarGroup Inc. |
132,030 | 15,757,780 | ||||||
Ardagh Group SA |
34,765 | 886,160 | ||||||
Avery Dennison Corp. |
76,938 | 15,942,323 | ||||||
Ball Corp. |
451,541 | 40,625,144 | ||||||
Berry Global Group Inc.(a)(b) |
267,171 | 16,265,370 | ||||||
Crown Holdings Inc. |
221,956 | 22,368,726 | ||||||
Graphic Packaging Holding Co. |
401,238 | 7,639,572 | ||||||
International Paper Co. |
779,674 | 43,599,370 | ||||||
Packaging Corp. of America |
185,947 | 25,556,556 | ||||||
Sealed Air Corp. |
137,724 | 7,545,898 | ||||||
Silgan Holdings Inc. |
165,826 | 6,361,085 | ||||||
Sonoco Products Co. |
196,461 | 11,705,146 | ||||||
Westrock Co. |
528,532 | 26,336,750 | ||||||
|
|
|||||||
276,247,349 | ||||||||
Distributors — 0.4% | ||||||||
Genuine Parts Co. |
280,916 | 34,055,447 | ||||||
LKQ Corp.(a) |
545,025 | 27,425,658 | ||||||
|
|
|||||||
61,481,105 | ||||||||
Diversified Consumer Services — 0.4% | ||||||||
Bright Horizons Family Solutions Inc.(a) |
24,301 | 3,388,045 | ||||||
Chegg Inc.(a) |
69,914 | 4,755,550 | ||||||
frontdoor Inc.(a) |
53,836 | 2,255,728 | ||||||
Grand Canyon Education Inc.(a)(b) |
90,814 | 7,988,000 | ||||||
H&R Block Inc. |
70,126 | 1,753,150 | ||||||
Mister Car Wash Inc.(a) |
16,467 | 300,523 | ||||||
Service Corp. International |
324,277 | 19,540,932 | ||||||
Terminix Global Holdings Inc.(a)(b) |
249,935 | 10,414,792 | ||||||
|
|
|||||||
50,396,720 | ||||||||
Diversified Financial Services — 0.3% | ||||||||
Equitable Holdings Inc. |
739,807 | 21,927,879 | ||||||
Voya Financial Inc. |
225,794 | 13,861,494 | ||||||
|
|
|||||||
35,789,373 | ||||||||
Diversified Telecommunication Services — 0.2% | ||||||||
Lumen Technologies Inc. |
2,190,867 | 27,144,842 | ||||||
|
|
|||||||
Electric Utilities — 3.1% | ||||||||
Alliant Energy Corp. |
499,792 | 27,978,356 |
S C H E D U L E O F I N V E S T M E N T S |
81 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Electric Utilities (continued) | ||||||||
Avangrid Inc. |
112,365 | $ | 5,460,939 | |||||
Edison International |
743,774 | 41,257,144 | ||||||
Entergy Corp. |
399,749 | 39,699,073 | ||||||
Evergy Inc. |
457,428 | 28,452,022 | ||||||
Eversource Energy |
686,700 | 56,144,592 | ||||||
FirstEnergy Corp. |
1,085,394 | 38,661,734 | ||||||
Hawaiian Electric Industries Inc. |
212,034 | 8,657,348 | ||||||
IDACORP Inc. |
99,900 | 10,327,662 | ||||||
NRG Energy Inc. |
263,131 | 10,743,639 | ||||||
OGE Energy Corp. |
395,945 | 13,050,347 | ||||||
PG&E Corp.(a) |
3,021,012 | 29,001,715 | ||||||
Pinnacle West Capital Corp. |
225,961 | 16,350,538 | ||||||
PPL Corp. |
1,541,670 | 42,981,760 | ||||||
Xcel Energy Inc. |
1,072,607 | 67,037,937 | ||||||
|
|
|||||||
435,804,806 | ||||||||
Electrical Equipment — 1.3% | ||||||||
Acuity Brands Inc. |
70,702 | 12,257,606 | ||||||
AMETEK Inc. |
461,209 | 57,194,528 | ||||||
ChargePoint Holdings Inc.(a)(b) |
209,750 | 4,192,903 | ||||||
Hubbell Inc. |
108,514 | 19,605,224 | ||||||
nVent Electric PLC |
329,641 | 10,657,294 | ||||||
Regal Beloit Corp. |
82,145 | 12,349,679 | ||||||
Rockwell Automation Inc. |
91,311 | 26,849,086 | ||||||
Sensata Technologies Holding PLC(a)(b) |
310,133 | 16,970,478 | ||||||
Shoals Technologies Group Inc., Class A(a)(b) |
203,081 | 5,661,898 | ||||||
Sunrun Inc.(a) |
400,519 | 17,622,836 | ||||||
|
|
|||||||
183,361,532 | ||||||||
Electronic Equipment, Instruments & Components — 1.8% | ||||||||
Amphenol Corp., Class A |
338,375 | 24,779,201 | ||||||
Arrow Electronics Inc.(a) |
143,158 | 16,075,212 | ||||||
Avnet Inc. |
196,382 | 7,260,243 | ||||||
Coherent Inc.(a) |
4,983 | 1,246,199 | ||||||
Corning Inc. |
1,004,741 | 36,662,999 | ||||||
IPG Photonics Corp.(a)(b) |
67,073 | 10,624,363 | ||||||
Jabil Inc. |
59,723 | 3,486,032 | ||||||
Keysight Technologies Inc.(a)(b) |
208,053 | 34,181,027 | ||||||
Littelfuse Inc. |
47,822 | 13,068,318 | ||||||
National Instruments Corp. |
262,032 | 10,279,515 | ||||||
SYNNEX Corp. |
82,287 | 8,566,077 | ||||||
Teledyne Technologies Inc.(a) |
91,904 | 39,480,120 | ||||||
Trimble Inc.(a) |
500,898 | 41,198,861 | ||||||
Vontier Corp. |
153,679 | 5,163,614 | ||||||
|
|
|||||||
252,071,781 | ||||||||
Energy Equipment & Services — 0.6% | ||||||||
Baker Hughes Co. |
1,472,126 | 36,405,676 | ||||||
Halliburton Co. |
1,673,873 | 36,189,134 | ||||||
NOV Inc.(a) |
785,592 | 10,299,111 | ||||||
|
|
|||||||
82,893,921 | ||||||||
Entertainment — 0.6% | ||||||||
Liberty Media Corp.-Liberty Formula One, Class A(a)(b) |
49,560 | 2,331,798 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C, NVS(a) |
398,019 | 20,462,157 | ||||||
Live Nation Entertainment Inc.(a) |
164,379 | 14,979,858 | ||||||
Madison Square Garden Sports Corp.(a) |
23,025 | 4,281,499 | ||||||
Take-Two Interactive Software Inc.(a) |
185,380 | 28,561,497 | ||||||
World Wrestling Entertainment Inc., Class A |
11,977 | 673,826 | ||||||
Zynga Inc., Class A(a)(b) |
1,035,303 | 7,795,831 | ||||||
|
|
|||||||
79,086,466 |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) — 10.3% | ||||||||
Alexandria Real Estate Equities Inc. |
307,730 | $ | 58,797,971 | |||||
American Campus Communities Inc. |
271,204 | 13,139,834 | ||||||
American Homes 4 Rent, Class A |
566,694 | 21,602,375 | ||||||
Americold Realty Trust |
522,930 | 15,191,117 | ||||||
Apartment Income REIT Corp. |
309,242 | 15,094,102 | ||||||
AvalonBay Communities Inc. |
278,856 | 61,805,644 | ||||||
Boston Properties Inc. |
310,420 | 33,634,007 | ||||||
Brixmor Property Group Inc. |
587,255 | 12,984,208 | ||||||
Camden Property Trust |
194,928 | 28,746,032 | ||||||
CoreSite Realty Corp. |
18,383 | 2,546,781 | ||||||
Cousins Properties Inc. |
293,381 | 10,940,177 | ||||||
CubeSmart |
403,261 | 19,537,995 | ||||||
CyrusOne Inc. |
246,393 | 19,073,282 | ||||||
Douglas Emmett Inc. |
329,719 | 10,422,418 | ||||||
Duke Realty Corp. |
746,755 | 35,747,162 | ||||||
EPR Properties |
147,203 | 7,268,884 | ||||||
Equity LifeStyle Properties Inc. |
162,463 | 12,688,360 | ||||||
Equity Residential |
737,265 | 59,659,484 | ||||||
Essex Property Trust Inc. |
129,283 | 41,336,946 | ||||||
Extra Space Storage Inc. |
238,308 | 40,033,361 | ||||||
Federal Realty Investment Trust |
153,821 | 18,149,340 | ||||||
First Industrial Realty Trust Inc. |
255,518 | 13,307,377 | ||||||
Gaming and Leisure Properties Inc. |
439,103 | 20,339,251 | ||||||
Healthcare Trust of America Inc., Class A |
431,218 | 12,789,926 | ||||||
Healthpeak Properties Inc. |
1,074,489 | 35,973,892 | ||||||
Highwoods Properties Inc. |
203,841 | 8,940,466 | ||||||
Host Hotels & Resorts Inc.(a) |
1,403,861 | 22,925,050 | ||||||
Hudson Pacific Properties Inc. |
301,333 | 7,916,018 | ||||||
Invitation Homes Inc. |
1,148,436 | 44,019,552 | ||||||
Iron Mountain Inc. |
167,957 | 7,297,732 | ||||||
JBG SMITH Properties |
249,822 | 7,397,229 | ||||||
Kilroy Realty Corp. |
231,311 | 15,315,101 | ||||||
Kimco Realty Corp. |
1,158,007 | 24,028,645 | ||||||
Lamar Advertising Co., Class A |
21,494 | 2,438,494 | ||||||
Life Storage Inc. |
155,904 | 17,888,425 | ||||||
Medical Properties Trust Inc. |
1,183,993 | 23,762,740 | ||||||
Mid-America Apartment Communities Inc. |
229,727 | 42,901,517 | ||||||
National Retail Properties Inc. |
350,756 | 15,149,152 | ||||||
Omega Healthcare Investors Inc. |
472,981 | 14,170,511 | ||||||
Park Hotels & Resorts Inc.(a) |
464,852 | 8,897,267 | ||||||
Rayonier Inc. |
281,073 | 10,028,685 | ||||||
Realty Income Corp. |
776,625 | 50,371,898 | ||||||
Regency Centers Corp. |
336,566 | 22,660,989 | ||||||
Rexford Industrial Realty Inc. |
276,237 | 15,676,450 | ||||||
SBA Communications Corp. |
180,505 | 59,669,538 | ||||||
Simon Property Group Inc. |
84,747 | 11,014,568 | ||||||
SL Green Realty Corp. |
134,010 | 9,493,268 | ||||||
Spirit Realty Capital Inc. |
237,878 | 10,951,903 | ||||||
STORE Capital Corp. |
484,444 | 15,516,741 | ||||||
Sun Communities Inc. |
228,106 | 42,222,421 | ||||||
UDR Inc. |
587,147 | 31,107,048 | ||||||
Ventas Inc. |
782,096 | 43,179,520 | ||||||
VEREIT Inc. |
458,869 | 20,754,645 | ||||||
VICI Properties Inc. |
1,167,006 | 33,154,640 | ||||||
Vornado Realty Trust |
353,319 | 14,842,931 | ||||||
Welltower Inc. |
843,559 | 69,509,262 | ||||||
Weyerhaeuser Co. |
1,499,457 | 53,335,685 | ||||||
WP Carey Inc. |
366,123 | 26,741,624 | ||||||
|
|
|||||||
1,424,089,641 |
82 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Food & Staples Retailing — 0.7% | ||||||||
Albertsons Companies Inc., Class A |
307,423 | $ | 9,570,078 | |||||
Casey’s General Stores Inc. |
74,164 | 13,976,206 | ||||||
Grocery Outlet Holding Corp.(a) |
172,993 | 3,731,459 | ||||||
Kroger Co. (The) |
1,495,889 | 60,478,792 | ||||||
U.S. Foods Holding Corp.(a) |
437,545 | 15,165,310 | ||||||
|
|
|||||||
102,921,845 | ||||||||
Food Products — 2.7% | ||||||||
Archer-Daniels-Midland Co. |
1,109,246 | 66,565,852 | ||||||
Beyond Meat Inc.(a)(b) |
13,953 | 1,468,693 | ||||||
Bunge Ltd. |
272,805 | 22,184,503 | ||||||
Campbell Soup Co. |
392,346 | 16,403,986 | ||||||
Conagra Brands Inc. |
935,935 | 31,700,118 | ||||||
Darling Ingredients Inc.(a) |
303,355 | 21,811,225 | ||||||
Flowers Foods Inc. |
371,176 | 8,770,889 | ||||||
Hain Celestial Group Inc. (The)(a) |
167,438 | 7,162,998 | ||||||
Hershey Co. (The) |
41,156 | 6,965,653 | ||||||
Hormel Foods Corp. |
565,835 | 23,199,235 | ||||||
Ingredion Inc. |
133,031 | 11,841,089 | ||||||
JM Smucker Co. (The) |
209,852 | 25,188,536 | ||||||
Kellogg Co. |
281,425 | 17,988,686 | ||||||
Lamb Weston Holdings Inc. |
207,190 | 12,715,250 | ||||||
McCormick & Co. Inc./MD, NVS |
497,286 | 40,295,085 | ||||||
Pilgrim’s Pride Corp.(a) |
55,624 | 1,617,546 | ||||||
Post Holdings Inc.(a)(b) |
116,763 | 12,862,612 | ||||||
Seaboard Corp. |
507 | 2,078,695 | ||||||
Tyson Foods Inc., Class A |
572,877 | 45,222,910 | ||||||
|
|
|||||||
376,043,561 | ||||||||
Gas Utilities — 0.4% | ||||||||
Atmos Energy Corp. |
258,922 | 22,836,921 | ||||||
National Fuel Gas Co. |
172,741 | 9,072,357 | ||||||
UGI Corp. |
417,061 | 17,775,140 | ||||||
|
|
|||||||
49,684,418 | ||||||||
Health Care Equipment & Supplies — 2.3% | ||||||||
Cooper Companies Inc. (The) |
96,571 | 39,913,760 | ||||||
DENTSPLY SIRONA Inc. |
434,922 | 25,247,222 | ||||||
Envista Holdings Corp.(a) |
318,608 | 13,321,000 | ||||||
Figs Inc., Class A(a)(b) |
56,799 | 2,109,515 | ||||||
Globus Medical Inc., Class A(a) |
145,163 | 11,122,389 | ||||||
Hill-Rom Holdings Inc. |
132,241 | 19,836,150 | ||||||
Hologic Inc.(a) |
499,131 | 36,840,859 | ||||||
ICU Medical Inc.(a) |
39,429 | 9,201,940 | ||||||
Integra LifeSciences Holdings Corp.(a)(b) |
145,359 | 9,954,184 | ||||||
Masimo Corp.(a) |
27,249 | 7,376,577 | ||||||
Quidel Corp.(a) |
73,646 | 10,395,133 | ||||||
ResMed Inc. |
28,497 | 7,510,384 | ||||||
STERIS PLC |
147,566 | 30,144,783 | ||||||
Tandem Diabetes Care Inc.(a)(b) |
7,249 | 865,386 | ||||||
Teleflex Inc. |
76,948 | 28,974,769 | ||||||
Zimmer Biomet Holdings Inc. |
417,619 | 61,122,717 | ||||||
|
|
|||||||
313,936,768 | ||||||||
Health Care Providers & Services — 2.2% | ||||||||
Acadia Healthcare Co. Inc.(a)(b) |
178,476 | 11,383,199 | ||||||
agilon health Inc.(a)(b) |
6,660 | 174,559 | ||||||
Amedisys Inc.(a) |
7,365 | 1,098,121 | ||||||
AmerisourceBergen Corp. |
295,335 | 35,277,766 | ||||||
Cardinal Health Inc. |
240,165 | 11,878,561 | ||||||
Chemed Corp. |
22,676 | 10,547,061 | ||||||
DaVita Inc.(a) |
41,351 | 4,807,467 | ||||||
Encompass Health Corp. |
82,525 | 6,192,676 |
Security | Shares | Value | ||||||
Health Care Providers & Services (continued) | ||||||||
Henry Schein Inc.(a) |
282,569 | $ | 21,520,455 | |||||
Laboratory Corp. of America Holdings(a) |
192,289 | 54,117,816 | ||||||
McKesson Corp. |
264,454 | 52,726,838 | ||||||
Molina Healthcare Inc.(a) |
97,989 | 26,585,396 | ||||||
Oak Street Health Inc.(a)(b) |
19,708 | 838,181 | ||||||
Premier Inc., Class A |
240,089 | 9,305,850 | ||||||
Quest Diagnostics Inc. |
242,467 | 35,232,880 | ||||||
Signify Health Inc., Class A(a)(b) |
126,360 | 2,258,053 | ||||||
Universal Health Services Inc., Class B |
147,794 | 20,450,256 | ||||||
|
|
|||||||
304,395,135 | ||||||||
Health Care Technology — 0.7% | ||||||||
Cerner Corp. |
588,736 | 41,517,663 | ||||||
Certara Inc.(a)(b) |
71,656 | 2,371,814 | ||||||
Change Healthcare Inc.(a) |
501,525 | 10,501,933 | ||||||
Teladoc Health Inc.(a)(b) |
300,760 | 38,139,375 | ||||||
|
|
|||||||
92,530,785 | ||||||||
Hotels, Restaurants & Leisure — 2.8% | ||||||||
Aramark |
459,452 | 15,097,593 | ||||||
Boyd Gaming Corp.(a) |
127,923 | 8,092,409 | ||||||
Caesars Entertainment Inc.(a) |
155,440 | 17,452,803 | ||||||
Carnival Corp.(a) |
1,699,296 | 42,499,393 | ||||||
Darden Restaurants Inc. |
82,741 | 12,532,779 | ||||||
Domino’s Pizza Inc. |
23,532 | 11,223,823 | ||||||
Hilton Worldwide Holdings Inc.(a) |
181,435 | 23,969,378 | ||||||
Hyatt Hotels Corp., Class A(a) |
94,420 | 7,279,782 | ||||||
Marriott Vacations Worldwide Corp. |
82,505 | 12,980,512 | ||||||
MGM Resorts International |
796,813 | 34,382,481 | ||||||
Norwegian Cruise Line Holdings Ltd.(a)(b) |
732,995 | 19,578,296 | ||||||
Penn National Gaming Inc.(a)(b) |
290,009 | 21,014,052 | ||||||
Planet Fitness Inc., Class A(a)(b) |
51,462 | 4,042,340 | ||||||
Royal Caribbean Cruises Ltd.(a) |
437,252 | 38,893,565 | ||||||
Six Flags Entertainment Corp.(a) |
94,245 | 4,005,413 | ||||||
Travel + Leisure Co. |
56,210 | 3,065,131 | ||||||
Wyndham Hotels & Resorts Inc. |
67,002 | 5,171,884 | ||||||
Yum China Holdings Inc. |
777,223 | 45,164,429 | ||||||
Yum! Brands Inc. |
544,679 | 66,619,689 | ||||||
|
|
|||||||
393,065,752 | ||||||||
Household Durables — 1.8% | ||||||||
DR Horton Inc. |
389,964 | 32,745,277 | ||||||
Garmin Ltd. |
302,017 | 46,951,563 | ||||||
Leggett & Platt Inc. |
265,996 | 11,927,261 | ||||||
Lennar Corp., Class A |
541,551 | 50,732,498 | ||||||
Lennar Corp., Class B |
31,099 | 2,412,971 | ||||||
Mohawk Industries Inc.(a) |
113,515 | 20,137,561 | ||||||
Newell Brands Inc. |
763,680 | 16,907,875 | ||||||
NVR Inc.(a) |
2,147 | 10,292,890 | ||||||
PulteGroup Inc. |
367,165 | 16,860,217 | ||||||
Toll Brothers Inc. |
132,371 | 7,318,793 | ||||||
TopBuild Corp.(a) |
11,229 | 2,299,811 | ||||||
Whirlpool Corp. |
122,663 | 25,006,079 | ||||||
|
|
|||||||
243,592,796 | ||||||||
Household Products — 0.4% | ||||||||
Church & Dwight Co. Inc. |
463,648 | 38,283,415 | ||||||
Clorox Co. (The) |
46,835 | 7,756,344 | ||||||
Reynolds Consumer Products Inc. |
107,586 | 2,941,401 | ||||||
Spectrum Brands Holdings Inc. |
83,926 | 8,029,201 | ||||||
|
|
|||||||
57,010,361 | ||||||||
Independent Power and Renewable Electricity Producers — 0.4% | ||||||||
AES Corp. (The) |
1,321,098 | 30,160,668 |
S C H E D U L E O F I N V E S T M E N T S |
83 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
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 |
189,420 | $ | 7,351,390 | |||||
Vistra Corp. |
947,700 | 16,205,670 | ||||||
|
|
|||||||
53,717,728 | ||||||||
Insurance — 5.6% | ||||||||
Aflac Inc. |
1,322,525 | 68,943,228 | ||||||
Alleghany Corp.(a) |
24,220 | 15,123,210 | ||||||
American Financial Group Inc./OH |
134,331 | 16,902,870 | ||||||
Arch Capital Group Ltd.(a)(b) |
581,455 | 22,199,952 | ||||||
Arthur J Gallagher & Co. |
408,693 | 60,752,214 | ||||||
Assurant Inc. |
117,504 | 18,536,256 | ||||||
Assured Guaranty Ltd. |
143,085 | 6,697,809 | ||||||
Athene Holding Ltd., Class A(a) |
228,838 | 15,760,073 | ||||||
Axis Capital Holdings Ltd. |
155,501 | 7,159,266 | ||||||
Brighthouse Financial Inc.(a) |
164,086 | 7,421,610 | ||||||
Brown & Brown Inc. |
442,582 | 24,541,172 | ||||||
Cincinnati Financial Corp. |
298,714 | 34,119,113 | ||||||
CNA Financial Corp. |
55,599 | 2,332,934 | ||||||
Erie Indemnity Co., Class A, NVS |
15,306 | 2,730,897 | ||||||
Everest Re Group Ltd. |
60,738 | 15,231,876 | ||||||
Fidelity National Financial Inc. |
546,477 | 24,777,267 | ||||||
First American Financial Corp. |
211,146 | 14,157,339 | ||||||
Globe Life Inc. |
200,613 | 17,860,575 | ||||||
GoHealth Inc., Class A(a) |
41,373 | 208,106 | ||||||
Hanover Insurance Group Inc. (The) |
70,894 | 9,189,280 | ||||||
Hartford Financial Services Group Inc. (The) |
690,795 | 48,528,349 | ||||||
Kemper Corp. |
121,969 | 8,146,309 | ||||||
Lemonade Inc.(a)(b) |
68,395 | 4,583,149 | ||||||
Lincoln National Corp. |
317,757 | 21,845,794 | ||||||
Loews Corp. |
434,390 | 23,426,653 | ||||||
Markel Corp.(a) |
22,536 | 26,933,450 | ||||||
Mercury General Corp. |
54,107 | 3,012,137 | ||||||
Old Republic International Corp. |
565,862 | 13,088,388 | ||||||
Primerica Inc. |
77,590 | 11,920,152 | ||||||
Principal Financial Group Inc. |
531,242 | 34,211,985 | ||||||
Prudential Financial Inc. |
771,049 | 81,114,355 | ||||||
Reinsurance Group of America Inc. |
136,703 | 15,209,576 | ||||||
RenaissanceRe Holdings Ltd. |
52,111 | 7,264,273 | ||||||
Unum Group |
405,701 | 10,166,867 | ||||||
W R Berkley Corp. |
277,074 | 20,276,275 | ||||||
White Mountains Insurance Group Ltd.(b) |
5,986 | 6,402,685 | ||||||
Willis Towers Watson PLC |
256,943 | 59,728,970 | ||||||
|
|
|||||||
780,504,414 | ||||||||
Interactive Media & Services — 0.8% | ||||||||
IAC/InterActiveCorp.(a) |
153,420 | 19,989,092 | ||||||
TripAdvisor Inc.(a) |
75,400 | 2,552,290 | ||||||
Twitter Inc.(a)(b) |
1,393,143 | 84,131,906 | ||||||
Vimeo Inc.(a)(b) |
28,201 | 828,263 | ||||||
|
|
|||||||
107,501,551 | ||||||||
Internet & Direct Marketing Retail — 0.2% | ||||||||
DoorDash Inc., Class A(a) |
34,686 | 7,144,622 | ||||||
Qurate Retail Inc., Series A |
735,887 | 7,498,689 | ||||||
Wayfair Inc., Class A(a)(b) |
67,352 | 17,209,109 | ||||||
|
|
|||||||
31,852,420 | ||||||||
IT Services — 2.0% | ||||||||
Akamai Technologies Inc.(a)(b) |
320,715 | 33,543,582 | ||||||
Alliance Data Systems Corp. |
98,522 | 9,939,885 | ||||||
Amdocs Ltd. |
259,188 | 19,623,123 | ||||||
Broadridge Financial Solutions Inc. |
21,064 | 3,510,105 | ||||||
Cloudflare Inc., Class A(a)(b) |
30,615 | 3,448,780 |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
Concentrix Corp.(a) |
84,087 | $ | 14,883,399 | |||||
DXC Technology Co.(a) |
501,800 | 16,865,498 | ||||||
Euronet Worldwide Inc.(a) |
29,275 | 3,726,122 | ||||||
Fastly Inc., Class A(a)(b) |
209,360 | 8,466,518 | ||||||
FleetCor Technologies Inc.(a) |
125,728 | 32,848,955 | ||||||
Genpact Ltd. |
344,538 | 16,369,000 | ||||||
GoDaddy Inc., Class A(a)(b) |
301,820 | 21,036,854 | ||||||
Jack Henry & Associates Inc. |
108,009 | 17,719,957 | ||||||
Paychex Inc. |
82,395 | 9,265,318 | ||||||
Paysafe Ltd.(a)(b) |
834,309 | 6,465,895 | ||||||
SolarWinds Corp. |
69,147 | 1,156,829 | ||||||
StoneCo Ltd., Class A(a) |
30,224 | 1,049,377 | ||||||
VeriSign Inc.(a) |
196,448 | 40,273,804 | ||||||
Western Union Co. (The) |
619,875 | 12,533,873 | ||||||
WEX Inc.(a)(b) |
29,095 | 5,124,793 | ||||||
|
|
|||||||
277,851,667 | ||||||||
Leisure Products — 0.3% | ||||||||
Brunswick Corp./DE |
134,367 | 12,801,144 | ||||||
Hasbro Inc. |
254,907 | 22,742,803 | ||||||
Hayward Holdings Inc.(a)(b) |
75,959 | 1,689,328 | ||||||
Polaris Inc. |
34,952 | 4,182,356 | ||||||
|
|
|||||||
41,415,631 | ||||||||
Life Sciences Tools & Services — 1.3% | ||||||||
Adaptive Biotechnologies Corp.(a)(b) |
23,480 | 798,085 | ||||||
Agilent Technologies Inc. |
62,634 | 9,866,734 | ||||||
Bio-Rad Laboratories Inc., Class A(a) |
42,285 | 31,542,496 | ||||||
Charles River Laboratories International Inc.(a) |
6,208 | 2,561,855 | ||||||
IQVIA Holdings Inc.(a) |
192,412 | 46,090,370 | ||||||
PerkinElmer Inc. |
223,694 | 38,763,933 | ||||||
PPD Inc.(a) |
187,482 | 8,772,283 | ||||||
QIAGEN NV(a)(b) |
451,717 | 23,344,735 | ||||||
Repligen Corp.(a) |
6,278 | 1,814,279 | ||||||
Syneos Health Inc.(a) |
177,135 | 15,495,770 | ||||||
Waters Corp.(a) |
8,485 | 3,031,691 | ||||||
|
|
|||||||
182,082,231 | ||||||||
Machinery — 5.2% | ||||||||
AGCO Corp. |
111,495 | 13,661,482 | ||||||
Allison Transmission Holdings Inc. |
51,992 | 1,836,357 | ||||||
Colfax Corp.(a)(b) |
234,282 | 10,753,544 | ||||||
Crane Co. |
99,225 | 9,407,522 | ||||||
Cummins Inc. |
286,361 | 64,305,226 | ||||||
Donaldson Co. Inc. |
223,154 | 12,811,271 | ||||||
Dover Corp. |
286,242 | 44,510,631 | ||||||
Flowserve Corp. |
257,823 | 8,938,723 | ||||||
Fortive Corp. |
651,404 | 45,969,580 | ||||||
Gates Industrial Corp. PLC(a) |
190,261 | 3,095,547 | ||||||
Graco Inc. |
126,017 | 8,817,410 | ||||||
IDEX Corp. |
151,875 | 31,430,531 | ||||||
Ingersoll Rand Inc.(a) |
807,403 | 40,701,185 | ||||||
ITT Inc. |
171,178 | 14,693,920 | ||||||
Middleby Corp. (The)(a) |
77,757 | 13,258,346 | ||||||
Nordson Corp. |
95,390 | 22,717,129 | ||||||
Oshkosh Corp. |
136,505 | 13,974,017 | ||||||
Otis Worldwide Corp. |
857,704 | 70,571,885 | ||||||
PACCAR Inc. |
681,678 | 53,798,028 | ||||||
Parker-Hannifin Corp. |
214,634 | 60,015,959 | ||||||
Pentair PLC |
331,418 | 24,070,889 | ||||||
Snap-on Inc. |
106,990 | 22,355,561 | ||||||
Stanley Black & Decker Inc. |
322,877 | 56,603,567 |
84 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Machinery (continued) | ||||||||
Timken Co. (The) |
128,999 | $ | 8,439,115 | |||||
Toro Co. (The) |
11,483 | 1,118,559 | ||||||
Westinghouse Air Brake Technologies Corp. |
362,706 | 31,268,884 | ||||||
Woodward Inc. |
114,937 | 13,010,868 | ||||||
Xylem Inc./NY |
121,139 | 14,982,472 | ||||||
|
|
|||||||
717,118,208 | ||||||||
Marine — 0.0% | ||||||||
Kirby Corp.(a) |
118,077 | 5,662,973 | ||||||
|
|
|||||||
Media — 2.5% | ||||||||
Altice USA Inc., Class A(a) |
127,010 | 2,631,647 | ||||||
Cable One Inc. |
5,035 | 9,129,110 | ||||||
Discovery Inc., Class A(a) |
327,077 | 8,301,214 | ||||||
Discovery Inc., Class C, NVS(a)(b) |
629,284 | 15,272,723 | ||||||
DISH Network Corp., Class A(a)(b) |
494,072 | 21,472,369 | ||||||
Fox Corp., Class A, NVS |
638,452 | 25,608,310 | ||||||
Fox Corp., Class B |
301,140 | 11,178,317 | ||||||
Interpublic Group of Companies Inc. (The) |
783,037 | 28,713,967 | ||||||
Liberty Broadband Corp., Class A(a) |
49,032 | 8,254,537 | ||||||
Liberty Broadband Corp., Class C, NVS(a) |
288,283 | 49,786,474 | ||||||
Liberty Media Corp.-Liberty SiriusXM, Class A(a)(b) |
158,239 | 7,464,134 | ||||||
Liberty Media Corp.-Liberty SiriusXM, |
||||||||
Class C, NVS(a) |
321,459 | 15,259,659 | ||||||
New York Times Co. (The), Class A |
328,705 | 16,195,295 | ||||||
News Corp., Class A, NVS |
777,474 | 18,293,963 | ||||||
News Corp., Class B |
240,350 | 5,583,330 | ||||||
Nexstar Media Group Inc., Class A |
75,119 | 11,415,083 | ||||||
Omnicom Group Inc. |
425,396 | 30,824,194 | ||||||
Sirius XM Holdings Inc.(b) |
1,784,791 | 10,887,225 | ||||||
ViacomCBS Inc., Class A |
16,194 | 681,282 | ||||||
ViacomCBS Inc., Class B, NVS |
1,161,093 | 45,874,784 | ||||||
|
|
|||||||
342,827,617 | ||||||||
Metals & Mining — 1.1% | ||||||||
Alcoa Corp.(a) |
369,728 | 18,094,488 | ||||||
Cleveland-Cliffs Inc.(a) |
902,312 | 17,874,801 | ||||||
Nucor Corp. |
585,900 | 57,705,291 | ||||||
Reliance Steel & Aluminum Co. |
125,377 | 17,856,192 | ||||||
Royal Gold Inc. |
132,112 | 12,615,375 | ||||||
Steel Dynamics Inc. |
315,800 | 18,467,984 | ||||||
United States Steel Corp. |
540,399 | 11,872,566 | ||||||
|
|
|||||||
154,486,697 | ||||||||
Mortgage Real Estate Investment — 0.4% | ||||||||
AGNC Investment Corp. |
1,037,998 | 16,369,229 | ||||||
Annaly Capital Management Inc. |
2,795,488 | 23,538,009 | ||||||
New Residential Investment Corp. |
857,761 | 9,435,371 | ||||||
Starwood Property Trust Inc. |
552,542 | 13,487,550 | ||||||
|
|
|||||||
62,830,159 | ||||||||
Multi-Utilities — 2.5% | ||||||||
Ameren Corp. |
507,590 | 41,114,790 | ||||||
CenterPoint Energy Inc. |
1,189,310 | 29,257,026 | ||||||
CMS Energy Corp. |
578,172 | 34,534,214 | ||||||
Consolidated Edison Inc. |
705,799 | 51,233,949 | ||||||
DTE Energy Co. |
386,029 | 43,123,300 | ||||||
MDU Resources Group Inc. |
395,126 | 11,723,388 | ||||||
NiSource Inc. |
775,059 | 18,779,680 | ||||||
Public Service Enterprise Group Inc. |
1,004,500 | 61,174,050 | ||||||
WEC Energy Group Inc. |
631,355 | 55,685,511 | ||||||
|
|
|||||||
346,625,908 |
Security | Shares | Value | ||||||
Multiline Retail — 0.5% | ||||||||
Dollar Tree Inc.(a) |
461,321 | $ | 44,157,646 | |||||
Kohl’s Corp. |
311,282 | 14,658,269 | ||||||
Nordstrom Inc.(a)(b) |
34,354 | 908,663 | ||||||
Ollie’s Bargain Outlet Holdings Inc.(a)(b) |
129,180 | 7,786,971 | ||||||
|
|
|||||||
67,511,549 | ||||||||
Oil, Gas & Consumable Fuels — 4.5% | ||||||||
Antero Midstream Corp. |
661,955 | 6,897,571 | ||||||
APA Corp. |
749,127 | 16,053,792 | ||||||
Cabot Oil & Gas Corp. |
686,144 | 14,930,493 | ||||||
Cimarex Energy Co. |
159,597 | 13,916,858 | ||||||
Continental Resources Inc./OK |
115,501 | 5,330,371 | ||||||
Devon Energy Corp. |
1,345,225 | 47,768,940 | ||||||
Diamondback Energy Inc. |
188,580 | 17,852,869 | ||||||
DTE Midstream LLC(a) |
191,722 | 8,865,225 | ||||||
EQT Corp.(a) |
561,359 | 11,485,405 | ||||||
Hess Corp. |
514,953 | 40,222,979 | ||||||
HollyFrontier Corp. |
296,395 | 9,819,566 | ||||||
Marathon Oil Corp. |
1,561,769 | 21,349,382 | ||||||
Marathon Petroleum Corp. |
1,272,253 | 78,637,958 | ||||||
Occidental Petroleum Corp. |
1,470,789 | 43,505,939 | ||||||
ONEOK Inc. |
887,462 | 51,463,921 | ||||||
Phillips 66 |
876,060 | 61,350,482 | ||||||
Pioneer Natural Resources Co. |
238,615 | 39,731,784 | ||||||
Targa Resources Corp. |
447,158 | 22,004,645 | ||||||
Valero Energy Corp. |
816,870 | 57,646,516 | ||||||
Williams Companies Inc. (The) |
2,425,967 | 62,929,584 | ||||||
|
|
|||||||
631,764,280 | ||||||||
Paper & Forest Products — 0.1% | ||||||||
Louisiana-Pacific Corp. |
176,243 | 10,816,033 | ||||||
|
|
|||||||
Personal Products — 0.1% | ||||||||
Coty Inc., Class A(a) |
681,969 | 5,360,276 | ||||||
Herbalife Nutrition Ltd.(a)(b) |
177,554 | 7,524,739 | ||||||
|
|
|||||||
12,885,015 | ||||||||
Pharmaceuticals — 1.1% | ||||||||
Catalent Inc.(a) |
248,550 | 33,074,548 | ||||||
Elanco Animal Health Inc.(a)(b) |
890,244 | 28,389,881 | ||||||
Jazz Pharmaceuticals PLC(a) |
119,108 | 15,509,053 | ||||||
Nektar Therapeutics(a)(b) |
355,817 | 6,390,473 | ||||||
Organon & Co. |
503,116 | 16,497,174 | ||||||
Perrigo Co. PLC |
270,415 | 12,798,742 | ||||||
Royalty Pharma PLC, Class A |
262,626 | 9,491,304 | ||||||
Viatris Inc. |
2,401,057 | 32,534,322 | ||||||
|
|
|||||||
154,685,497 | ||||||||
Professional Services — 2.3% | ||||||||
CACI International Inc., Class A(a) |
46,002 | 12,057,124 | ||||||
Clarivate PLC(a)(b) |
870,971 | 19,074,265 | ||||||
CoStar Group Inc.(a) |
176,980 | 15,230,899 | ||||||
Dun & Bradstreet Holdings Inc.(a)(b) |
317,072 | 5,329,980 | ||||||
Equifax Inc. |
149,395 | 37,859,681 | ||||||
FTI Consulting Inc.(a) |
66,408 | 8,945,158 | ||||||
IHS Markit Ltd. |
745,003 | 86,882,250 | ||||||
Jacobs Engineering Group Inc. |
257,990 | 34,191,415 | ||||||
Legalzoomcom Inc.(a)(b) |
15,266 | 403,022 | ||||||
Leidos Holdings Inc. |
282,323 | 27,139,710 | ||||||
ManpowerGroup Inc. |
107,366 | 11,625,590 | ||||||
Nielsen Holdings PLC |
717,466 | 13,768,173 | ||||||
Robert Half International Inc. |
26,755 | 2,684,329 | ||||||
Science Applications International Corp. |
114,649 | 9,809,368 |
S C H E D U L E O F I N V E S T M E N T S |
85 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Professional Services (continued) | ||||||||
TransUnion |
120,186 | $ | 13,498,090 | |||||
Verisk Analytics Inc.(b) |
115,613 | 23,153,816 | ||||||
|
|
|||||||
321,652,870 | ||||||||
Real Estate Management & Development — 0.8% | ||||||||
CBRE Group Inc., Class A(a) |
630,113 | 61,347,802 | ||||||
Howard Hughes Corp. (The)(a) |
82,160 | 7,214,469 | ||||||
Jones Lang LaSalle Inc.(a) |
101,197 | 25,105,964 | ||||||
Opendoor Technologies Inc.(a)(b) |
719,581 | 14,772,998 | ||||||
|
|
|||||||
108,441,233 | ||||||||
Road & Rail — 0.6% | ||||||||
AMERCO |
17,726 | 11,451,528 | ||||||
JB Hunt Transport Services Inc. |
18,640 | 3,116,981 | ||||||
Kansas City Southern |
132,560 | 35,876,038 | ||||||
Knight-Swift Transportation Holdings Inc. |
318,776 | 16,305,392 | ||||||
Landstar System Inc. |
8,561 | 1,351,097 | ||||||
Old Dominion Freight Line Inc. |
15,989 | 4,572,534 | ||||||
Ryder System Inc. |
103,854 | 8,589,764 | ||||||
Schneider National Inc., Class B |
102,517 | 2,331,237 | ||||||
TuSimple Holdings Inc., Class A(a)(b) |
55,596 | 2,064,280 | ||||||
XPO Logistics Inc.(a) |
28,101 | 2,236,278 | ||||||
|
|
|||||||
87,895,129 | ||||||||
Semiconductors & Semiconductor Equipment — 1.7% | ||||||||
Brooks Automation Inc. |
25,517 | 2,611,665 | ||||||
Cirrus Logic Inc.(a) |
115,507 | 9,512,002 | ||||||
First Solar Inc.(a) |
210,240 | 20,069,511 | ||||||
Marvell Technology Inc. |
1,634,497 | 98,576,514 | ||||||
Microchip Technology Inc. |
85,213 | 13,079,343 | ||||||
MKS Instruments Inc. |
17,078 | 2,577,241 | ||||||
ON Semiconductor Corp.(a)(b) |
386,904 | 17,708,596 | ||||||
Qorvo Inc.(a) |
220,553 | 36,874,256 | ||||||
Skyworks Solutions Inc. |
174,226 | 28,708,960 | ||||||
|
|
|||||||
229,718,088 | ||||||||
Software — 2.2% | ||||||||
ANSYS Inc.(a)(b) |
101,592 | 34,586,996 | ||||||
Black Knight Inc.(a)(b) |
304,446 | 21,920,112 | ||||||
C3.ai Inc., Class A(a)(b) |
50,331 | 2,332,338 | ||||||
CDK Global Inc. |
203,943 | 8,677,775 | ||||||
Ceridian HCM Holding Inc.(a)(b) |
258,628 | 29,126,685 | ||||||
Citrix Systems Inc. |
160,351 | 17,216,887 | ||||||
Datto Holding Corp.(a)(b) |
47,198 | 1,128,032 | ||||||
Dolby Laboratories Inc., Class A |
126,890 | 11,166,320 | ||||||
Duck Creek Technologies Inc.(a)(b) |
110,322 | 4,880,645 | ||||||
Dynatrace Inc.(a) |
25,523 | 1,811,367 | ||||||
Guidewire Software Inc.(a) |
166,195 | 19,755,600 | ||||||
Jamf Holding Corp.(a)(b) |
16,017 | 616,975 | ||||||
Mandiant Inc. |
328,123 | 5,840,589 | ||||||
Manhattan Associates Inc.(a) |
58,520 | 8,955,316 | ||||||
McAfee Corp., Class A |
35,098 | 776,017 | ||||||
Medallia Inc.(a) |
92,884 | 3,145,981 | ||||||
N-Able Inc.(a) |
90,171 | 1,119,022 | ||||||
NCR Corp.(a) |
166,555 | 6,455,672 | ||||||
NortonLifeLock Inc. |
810,532 | 20,506,460 | ||||||
Nuance Communications Inc.(a) |
350,033 | 19,265,816 | ||||||
Paycor HCM Inc.(a) |
11,449 | 402,547 | ||||||
Pegasystems Inc.(b) |
4,520 | 574,492 | ||||||
Procore Technologies Inc.(a) |
5,670 | 506,558 | ||||||
SS&C Technologies Holdings Inc. |
448,729 | 31,141,793 | ||||||
Synopsys Inc.(a) |
110,616 | 33,119,537 | ||||||
Teradata Corp.(a) |
31,469 | 1,804,747 |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Tyler Technologies Inc.(a) |
10,690 | $ | 4,902,968 | |||||
Wolfspeed Inc. |
231,574 | 18,694,969 | ||||||
|
|
|||||||
310,432,216 | ||||||||
Specialty Retail — 2.3% | ||||||||
Advance Auto Parts Inc. |
130,836 | 27,330,332 | ||||||
AutoNation Inc.(a)(b) |
90,459 | 11,014,288 | ||||||
AutoZone Inc.(a) |
33,731 | 57,274,901 | ||||||
Bath & Body Works Inc. |
206,764 | 13,032,335 | ||||||
Best Buy Co. Inc. |
383,783 | 40,569,701 | ||||||
Burlington Stores Inc.(a) |
7,623 | 2,161,654 | ||||||
CarMax Inc.(a)(b) |
297,384 | 38,053,257 | ||||||
Dick’s Sporting Goods Inc. |
125,120 | 14,985,622 | ||||||
Foot Locker Inc. |
177,747 | 8,115,928 | ||||||
Gap Inc. (The) |
398,772 | 9,052,124 | ||||||
Leslie’s Inc.(a)(b) |
24,603 | 505,346 | ||||||
Lithia Motors Inc. |
52,944 | 16,785,366 | ||||||
O’Reilly Automotive Inc.(a) |
94,507 | 57,749,447 | ||||||
Penske Automotive Group Inc. |
63,085 | 6,346,351 | ||||||
Petco Health & Wellness Co. Inc.(a)(b) |
103,802 | 2,190,222 | ||||||
Victoria’s Secret & Co.(a) |
67,147 | 3,710,543 | ||||||
Vroom Inc.(a)(b) |
170,953 | 3,772,933 | ||||||
Williams-Sonoma Inc. |
35,582 | 6,309,756 | ||||||
|
|
|||||||
318,960,106 | ||||||||
Technology Hardware, Storage & Peripherals — 1.0% | ||||||||
Hewlett Packard Enterprise Co. |
2,593,991 | 36,964,372 | ||||||
HP Inc. |
1,562,962 | 42,762,640 | ||||||
NetApp Inc. |
148,509 | 13,330,168 | ||||||
Pure Storage Inc., Class A(a) |
33,780 | 849,905 | ||||||
Western Digital Corp.(a) |
611,350 | 34,504,594 | ||||||
Xerox Holdings Corp. |
284,315 | 5,734,633 | ||||||
|
|
|||||||
134,146,312 | ||||||||
Textiles, Apparel & Luxury Goods — 1.0% | ||||||||
Capri Holdings Ltd.(a) |
292,969 | 14,182,629 | ||||||
Carter’s Inc. |
87,668 | 8,524,836 | ||||||
Columbia Sportswear Co. |
74,165 | 7,107,974 | ||||||
Deckers Outdoor Corp.(a) |
47,408 | 17,076,362 | ||||||
Hanesbrands Inc. |
276,225 | 4,740,021 | ||||||
PVH Corp.(a)(b) |
141,770 | 14,572,538 | ||||||
Ralph Lauren Corp. |
94,913 | 10,539,140 | ||||||
Skechers U.S.A. Inc., Class A(a) |
231,426 | 9,747,663 | ||||||
Tapestry Inc. |
497,469 | 18,416,302 | ||||||
Under Armour Inc., Class A(a) |
373,146 | 7,530,086 | ||||||
Under Armour Inc., Class C, NVS(a)(b) |
397,711 | 6,967,897 | ||||||
VF Corp. |
232,594 | 15,581,472 | ||||||
|
|
|||||||
134,986,920 | ||||||||
Thrifts & Mortgage Finance — 0.2% | ||||||||
MGIC Investment Corp. |
669,627 | 10,017,620 | ||||||
New York Community Bancorp. Inc. |
894,069 | 11,506,668 | ||||||
TFS Financial Corp. |
96,800 | 1,845,008 | ||||||
UWM Holdings Corp. |
96,432 | 670,202 | ||||||
|
|
|||||||
24,039,498 | ||||||||
Trading Companies & Distributors — 0.7% | ||||||||
Air Lease Corp. |
211,145 | 8,306,444 | ||||||
Core & Main Inc., Class A(a)(b) |
34,013 | 891,481 | ||||||
Fastenal Co. |
128,451 | 6,629,356 | ||||||
MSC Industrial Direct Co. Inc., Class A |
88,825 | 7,122,877 | ||||||
SiteOne Landscape Supply Inc.(a)(b) |
41,805 | 8,338,843 | ||||||
United Rentals Inc.(a) |
93,854 | 32,936,184 | ||||||
Univar Solutions Inc.(a) |
330,531 | 7,873,249 |
86 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
IShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Trading Companies & Distributors (continued) | ||||||||
Watsco Inc. |
64,645 | $ | 17,106,360 | |||||
WW Grainger Inc. |
15,652 | 6,152,175 | ||||||
|
|
|||||||
95,356,969 | ||||||||
Water Utilities — 0.6% | ||||||||
American Water Works Co. Inc. |
362,311 | 61,245,052 | ||||||
Essential Utilities Inc. |
448,843 | 20,682,685 | ||||||
|
|
|||||||
81,927,737 | ||||||||
|
|
|||||||
Total
Common Stocks — 99.8% |
13,851,659,323 | |||||||
|
|
|||||||
Short-Term Investments |
| |||||||
Money Market Funds — 1.9% |
| |||||||
BlackRock
Cash Funds: Institutional, |
248,646,636 | 248,770,959 | ||||||
BlackRock
Cash Funds: Treasury, |
18,600,000 | 18,600,000 | ||||||
|
|
|||||||
267,370,959 | ||||||||
|
|
|||||||
Total
Short-Term Investments — 1.9% |
267,370,959 | |||||||
|
|
|||||||
Total
Investments in Securities — 101.7% |
|
14,119,030,282 | ||||||
|
|
|||||||
Other Assets, Less Liabilities — (1.7)% |
|
(230,263,346 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 13,888,766,936 | ||||||
|
|
(a) |
Non-income producing security. |
(b) |
All or a portion of this security is on loan. |
(c) |
Affiliate of the Fund. |
(d) |
Annualized 7-day yield as of period end. |
(e) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 03/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 09/30/21 |
Shares Held at |
Income | Capital Gain |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock
Cash Funds: Institutional, |
$ | 235,625,516 | $ | 13,171,919 | (a) | $ | — | $ | (3,640 | ) | $ | (22,836 | ) | $ | 248,770,959 | 248,646,636 | $ | 389,928 | (b) | $ | — | |||||||||||||||
BlackRock
Cash Funds: Treasury, |
18,090,000 | 510,000 | (a) | — | — | — | 18,600,000 | 18,600,000 | 872 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (3,640 | ) | $ | (22,836 | ) | $ | 267,370,959 | $ | 390,800 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 400 E-Mini Index |
101 | 12/17/21 | $ | 26,595 | $ | (653,107 | ) |
S C H E D U L E O F I N V E S T M E N T S |
87 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Russell Mid-Cap Value ETF |
Futures Contracts (continued)
|
||||||||||||||||
Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
||||||||||||||||
S&P 500 E-Mini Index |
34 | 12/17/21 | $ | 7,306 | $ | (274,461 | ) | |||||||||
|
|
|||||||||||||||
$ | (927,568 | ) | ||||||||||||||
|
|
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
|
||||
Equity Contracts |
||||
|
||||
Liabilities — Derivative Financial Instruments |
||||
Futures contracts |
||||
Unrealized depreciation on futures contracts(a) |
$ | 927,568 | ||
|
|
(a) |
Net cumulative appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
|
||||
Equity Contracts |
||||
|
||||
Net Realized Gain (Loss) from: |
||||
Futures contracts |
$ | 416,083 | ||
|
|
|||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||
Futures contracts |
$ | (912,190 | ) | |
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
||||
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 33,888,352 | ||
|
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 13,851,659,323 | $ | — | $ | — | $ | 13,851,659,323 | ||||||||
Money Market Funds |
267,370,959 | — | — | 267,370,959 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 14,119,030,282 | $ | — | $ | — | $ | 14,119,030,282 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative financial instruments(a) |
||||||||||||||||
Liabilities |
||||||||||||||||
Futures Contracts |
$ | (927,568 | ) | $ | — | $ | — | $ | (927,568 | ) | ||||||
|
|
|
|
|
|
|
|
(a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
88 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Assets and Liabilities (unaudited)
September 30, 2021
iShares Micro-Cap ETF |
iShares Russell 2500 ETF |
iShares Russell 3000 ETF |
||||||||||
|
||||||||||||
ASSETS |
||||||||||||
Investments in securities, at value (including securities on loan)(a): |
||||||||||||
Unaffiliated(b) |
$ | 1,255,495,503 | $ | 187,662,928 | $ | 11,605,584,301 | ||||||
Affiliated(c) |
205,256,992 | 303,792,083 | 232,404,758 | |||||||||
Cash |
7,205 | 294,093 | 115,238 | |||||||||
Cash pledged: |
||||||||||||
Futures contracts |
79,710 | 26,000 | 1,370,459 | |||||||||
Receivables: |
||||||||||||
Investments sold |
2,836,932 | — | — | |||||||||
Securities lending income — Affiliated |
297,106 | 52,411 | 58,682 | |||||||||
Capital shares sold |
855 | — | — | |||||||||
Dividends |
684,230 | 190,917 | 7,533,095 | |||||||||
|
|
|
|
|
|
|||||||
Total assets |
1,464,658,533 | 492,018,432 | 11,847,066,533 | |||||||||
|
|
|
|
|
|
|||||||
LIABILITIES |
||||||||||||
Collateral on securities loaned, at value |
204,321,386 | 155,603,996 | 182,715,072 | |||||||||
Payables: |
||||||||||||
Investments purchased |
3,457,799 | — | — | |||||||||
Variation margin on futures contracts |
12,723 | 4,138 | 267,696 | |||||||||
Capital shares redeemed |
— | — | 214,147 | |||||||||
Investment advisory fees |
628,810 | 18,868 | 1,998,003 | |||||||||
|
|
|
|
|
|
|||||||
Total liabilities |
208,420,718 | 155,627,002 | 185,194,918 | |||||||||
|
|
|
|
|
|
|||||||
NET ASSETS |
$ | 1,256,237,815 | $ | 336,391,430 | $ | 11,661,871,615 | ||||||
|
|
|
|
|
|
|||||||
NET ASSETS CONSIST OF: |
||||||||||||
Paid-in capital |
$ | 1,112,995,136 | $ | 276,961,294 | $ | 7,272,674,217 | ||||||
Accumulated earnings |
143,242,679 | 59,430,136 | 4,389,197,398 | |||||||||
|
|
|
|
|
|
|||||||
NET ASSETS |
$ | 1,256,237,815 | $ | 336,391,430 | $ | 11,661,871,615 | ||||||
|
|
|
|
|
|
|||||||
Shares outstanding |
8,700,000 | 5,250,000 | 45,750,000 | |||||||||
|
|
|
|
|
|
|||||||
Net asset value |
$ | 144.40 | $ | 64.07 | $ | 254.90 | ||||||
|
|
|
|
|
|
|||||||
Shares authorized |
Unlimited | Unlimited | Unlimited | |||||||||
|
|
|
|
|
|
|||||||
Par value |
None | None | None | |||||||||
|
|
|
|
|
|
|||||||
(a) Securities loaned, at value |
$ | 196,253,610 | $ | 150,532,791 | $ | 176,327,663 | ||||||
(b) Investments, at cost — Unaffiliated |
$ | 1,152,781,475 | $ | 158,845,764 | $ | 7,301,331,382 | ||||||
(c) Investments, at cost — Affiliated |
$ | 205,187,426 | $ | 280,780,554 | $ | 217,674,497 |
See notes to financial statements.
F I N A N C I A L S T A T E M E N T S |
89 |
Statements of Assets and Liabilities (unaudited) (continued)
September 30, 2021
iShares Russell Mid-Cap ETF |
iShares Russell Mid-Cap Growth ETF |
iShares Russell Mid-Cap Value ETF |
||||||||||
|
||||||||||||
ASSETS |
||||||||||||
Investments in securities, at value (including securities on loan)(a): |
||||||||||||
Unaffiliated(b) |
$ | 28,980,405,349 | $ | 15,549,261,673 | $ | 13,851,659,323 | ||||||
Affiliated(c) |
1,022,261,721 | 891,106,254 | 267,370,959 | |||||||||
Cash |
1,147,293 | 371,961 | 677,988 | |||||||||
Cash pledged: |
||||||||||||
Futures contracts |
3,416,420 | 1,090,990 | 1,949,590 | |||||||||
Receivables: |
||||||||||||
Securities lending income — Affiliated |
189,125 | 176,227 | 43,255 | |||||||||
Dividends |
27,283,766 | 3,187,869 | 19,116,432 | |||||||||
|
|
|
|
|
|
|||||||
Total assets |
30,034,703,674 | 16,445,194,974 | 14,140,817,547 | |||||||||
|
|
|
|
|
|
|||||||
LIABILITIES |
||||||||||||
Collateral on securities loaned, at value |
984,030,117 | 871,329,728 | 248,498,659 | |||||||||
Payables: |
||||||||||||
Investments purchased |
748,101 | — | 323,212 | |||||||||
Variation margin on futures contracts |
862,777 | 251,849 | 517,618 | |||||||||
Capital shares redeemed |
— | 8,166 | — | |||||||||
Investment advisory fees |
4,541,368 | 3,089,226 | 2,711,122 | |||||||||
|
|
|
|
|
|
|||||||
Total liabilities |
990,182,363 | 874,678,969 | 252,050,611 | |||||||||
|
|
|
|
|
|
|||||||
NET ASSETS |
$ | 29,044,521,311 | $ | 15,570,516,005 | $ | 13,888,766,936 | ||||||
|
|
|
|
|
|
|||||||
NET ASSETS CONSIST OF: |
||||||||||||
Paid-in capital |
$ | 18,619,846,823 | $ | 10,278,677,197 | $ | 11,489,447,161 | ||||||
Accumulated earnings |
10,424,674,488 | 5,291,838,808 | 2,399,319,775 | |||||||||
|
|
|
|
|
|
|||||||
NET ASSETS |
$ | 29,044,521,311 | $ | 15,570,516,005 | $ | 13,888,766,936 | ||||||
|
|
|
|
|
|
|||||||
Shares outstanding |
371,200,000 | 138,850,000 | 122,650,000 | |||||||||
|
|
|
|
|
|
|||||||
Net asset value |
$ | 78.24 | $ | 112.14 | $ | 113.24 | ||||||
|
|
|
|
|
|
|||||||
Shares authorized |
Unlimited | Unlimited | Unlimited | |||||||||
|
|
|
|
|
|
|||||||
Par value |
None | None | None | |||||||||
|
|
|
|
|
|
|||||||
(a) Securities loaned, at value |
$ | 945,605,457 | $ | 890,918,655 | $ | 215,738,097 | ||||||
(b) Investments, at cost — Unaffiliated |
$ | 18,447,920,184 | $ | 11,433,456,517 | $ | 11,094,131,908 | ||||||
(c) Investments, at cost — Affiliated |
$ | 1,021,791,697 | $ | 890,714,305 | $ | 267,204,230 |
See notes to financial statements.
90 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Operations (unaudited)
Six Months Ended September 30, 2021
iShares Micro-Cap ETF |
iShares Russell 2500 ETF |
iShares Russell 3000 ETF |
||||||||||||||||||
|
||||||||||||||||||||
INVESTMENT INCOME |
||||||||||||||||||||
Dividends — Unaffiliated |
$ | 5,538,231 | $ | 1,201,930 | $ | 78,230,170 | ||||||||||||||
Dividends — Affiliated |
78 | 676,703 | 324,899 | |||||||||||||||||
Securities lending income — Affiliated — net |
1,618,978 | 229,076 | 371,187 | |||||||||||||||||
Foreign taxes withheld |
(16,049 | ) | (691 | ) | (16,392 | ) | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Total investment income |
7,141,238 | 2,107,018 | 78,909,864 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
EXPENSES |
||||||||||||||||||||
Investment advisory fees |
3,986,315 | 233,828 | 11,842,028 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Total expenses |
3,986,315 | 233,828 | 11,842,028 | |||||||||||||||||
Less: |
||||||||||||||||||||
Investment advisory fees waived |
— | (128,801 | ) | — | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Total expenses after fees waived |
3,986,315 | 105,027 | 11,842,028 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net investment income |
3,154,923 | 2,001,991 | 67,067,836 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||||||
Investments — Unaffiliated |
42,786,776 | (1,015,676 | ) | (17,316,070 | ) | |||||||||||||||
Investments — Affiliated |
(11,158 | ) | 79,687 | 4,113 | ||||||||||||||||
In-kind redemptions — Unaffiliated |
189,175,013 | 7,744,493 | 292,207,519 | |||||||||||||||||
In-kind redemptions — Affiliated |
— | 1,443,511 | 1,333,960 | |||||||||||||||||
Futures contracts |
(225,511 | ) | 29,608 | 2,948,308 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net realized gain |
231,725,120 | 8,281,623 | 279,177,830 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||||||
Investments — Unaffiliated |
(252,055,014 | ) | (682,422 | ) | 539,777,211 | |||||||||||||||
Investments — Affiliated |
(10,900 | ) | (3,165,061 | ) | 2,100,246 | |||||||||||||||
Futures contracts |
1,173 | (15,132 | ) | (833,344 | ) | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net change in unrealized appreciation (depreciation) |
(252,064,741 | ) | (3,862,615 | ) | 541,044,113 | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net realized and unrealized gain (loss) |
(20,339,621 | ) | 4,419,008 | 820,221,943 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS |
$ | (17,184,698 | ) | $ | 6,420,999 | $ | 887,289,779 | |||||||||||||
|
|
|
|
|
|
See notes to financial statements.
F I N A N C I A L S T A T E M E N T S |
91 |
Statements of Operations (unaudited) (continued)
Six Months Ended September 30, 2021
iShares Russell Mid-Cap ETF |
iShares Russell Mid-Cap Growth ETF |
iShares Russell Mid-Cap Value ETF |
||||||||||||||||||
|
||||||||||||||||||||
INVESTMENT INCOME |
||||||||||||||||||||
Dividends — Unaffiliated |
$ | 171,833,232 | $ | 40,480,175 | $ | 108,398,056 | ||||||||||||||
Dividends — Affiliated |
2,051 | 777 | 872 | |||||||||||||||||
Securities lending income — Affiliated — net |
1,539,740 | 1,566,774 | 389,928 | |||||||||||||||||
Foreign taxes withheld |
(37,691 | ) | (5,541 | ) | (25,135 | ) | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Total investment income |
173,337,332 | 42,042,185 | 108,763,721 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
EXPENSES |
||||||||||||||||||||
Investment advisory fees |
27,150,675 | 18,092,178 | 16,383,662 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Total expenses |
27,150,675 | 18,092,178 | 16,383,662 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net investment income |
146,186,657 | 23,950,007 | 92,380,059 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||||||
Investments — Unaffiliated |
157,821,651 | 89,132,819 | 656,000,216 | |||||||||||||||||
Investments — Affiliated |
(13,737 | ) | 11,711 | (3,640 | ) | |||||||||||||||
In-kind redemptions — Unaffiliated |
1,109,186,708 | 2,107,306,775 | 243,350,272 | |||||||||||||||||
Futures contracts |
3,313,233 | 2,152,933 | 416,083 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net realized gain |
1,270,307,855 | 2,198,604,238 | 899,762,931 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||||||
Investments — Unaffiliated |
353,706,970 | (736,668,483 | ) | (401,844,721 | ) | |||||||||||||||
Investments — Affiliated |
(79,641 | ) | (75,528 | ) | (22,836 | ) | ||||||||||||||
Futures contracts |
(1,846,040 | ) | (809,987 | ) | (912,190 | ) | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net change in unrealized appreciation (depreciation) |
351,781,289 | (737,553,998 | ) | (402,779,747 | ) | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net realized and unrealized gain |
1,622,089,144 | 1,461,050,240 | 496,983,184 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | 1,768,275,801 | $ | 1,485,000,247 | $ | 589,363,243 | ||||||||||||||
|
|
|
|
|
|
See notes to financial statements.
92 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Changes in Net Assets
iShares Micro-Cap ETF |
iShares Russell 2500 ETF |
|||||||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||||
Six Months Ended 09/30/21 (unaudited) |
|
Year Ended 03/31/21 |
Six Months Ended 09/30/21 (unaudited) |
|
Year Ended 03/31/21 |
|||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||||||||||||||||
Net investment income |
$ | 3,154,923 | $ | 7,953,178 | $ | 2,001,991 | $ | 1,875,578 | ||||||||||||||||||||||||||
Net realized gain |
231,725,120 | 18,081,192 | 8,281,623 | 4,120,692 | ||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) |
(252,064,741 | ) | 632,697,905 | (3,862,615 | ) | 66,690,370 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations |
(17,184,698 | ) | 658,732,275 | 6,420,999 | 72,686,640 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(3,412,877 | ) | (8,886,794 | ) | (1,892,066 | ) | (2,053,020 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets derived from capital share transactions |
(109,753,140 | ) | 174,536,784 | 64,744,567 | 154,463,552 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
NET ASSETS |
||||||||||||||||||||||||||||||||||
Total increase (decrease) in net assets |
(130,350,715 | ) | 824,382,265 | 69,273,500 | 225,097,172 | |||||||||||||||||||||||||||||
Beginning of period |
1,386,588,530 | 562,206,265 | 267,117,930 | 42,020,758 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
End of period |
$ | 1,256,237,815 | $ | 1,386,588,530 | $ | 336,391,430 | $ | 267,117,930 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
(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 |
93 |
Statements of Changes in Net Assets (continued)
iShares Russell 3000 ETF |
iShares Russell Mid-Cap ETF |
|||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||
Six Months Ended 09/30/21 (unaudited) |
|
Year Ended 03/31/21 |
Six Months Ended 09/30/21 (unaudited) |
|
Year Ended 03/31/21 |
|||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||||||||||||
Net investment income |
$ | 67,067,836 | $ | 135,062,426 | $ | 146,186,657 | $ | 270,198,642 | ||||||||||||||||||||||
Net realized gain |
279,177,830 | 1,061,621,917 | 1,270,307,855 | 700,515,561 | ||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) |
541,044,113 | 3,423,435,522 | 351,781,289 | 10,488,765,188 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net increase in net assets resulting from operations |
887,289,779 | 4,620,119,865 | 1,768,275,801 | 11,459,479,391 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(63,610,065 | ) | (140,402,335 | ) | (155,393,992 | ) | (291,549,968 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||||||||
Net increase (decrease) in net assets derived from capital share transactions |
(120,154,839 | ) | (1,752,359,037 | ) | 308,322,262 | 201,796,936 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
NET ASSETS |
||||||||||||||||||||||||||||||
Total increase in net assets |
703,524,875 | 2,727,358,493 | 1,921,204,071 | 11,369,726,359 | ||||||||||||||||||||||||||
Beginning of period |
10,958,346,740 | 8,230,988,247 | 27,123,317,240 | 15,753,590,881 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
End of period |
$ | 11,661,871,615 | $ | 10,958,346,740 | $ | 29,044,521,311 | $ | 27,123,317,240 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
(a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
94 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Changes in Net Assets (continued)
iShares Russell Mid-Cap Growth ETF |
iShares Russell Mid-Cap Value ETF |
|||||||||||||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||||||
|
Six Months Ended 09/30/21 (unaudited) |
|
Year Ended 03/31/21 |
|
Six Months Ended 09/30/21 (unaudited) |
|
Year Ended 03/31/21 |
|||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||||||||||||||
Net investment income |
$ | 23,950,007 | $ | 48,647,158 | $ | 92,380,059 | $ | 174,406,967 | ||||||||||||||||||||||||
Net realized gain |
2,198,604,238 | 1,634,159,985 | 899,762,931 | 31,845,912 | ||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) |
(737,553,998 | ) | 4,645,472,122 | (402,779,747 | ) | 5,513,829,072 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Net increase in net assets resulting from operations |
1,485,000,247 | 6,328,279,265 | 589,363,243 | 5,720,081,951 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(26,412,877 | ) | (50,299,403 | ) | (99,534,773 | ) | (194,749,263 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets derived from capital share transactions |
(710,340,465 | ) | (809,354,311 | ) | 278,912,479 | (607,251,620 | ) | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
NET ASSETS |
||||||||||||||||||||||||||||||||
Total increase in net assets |
748,246,905 | 5,468,625,551 | 768,740,949 | 4,918,081,068 | ||||||||||||||||||||||||||||
Beginning of period |
14,822,269,100 | 9,353,643,549 | 13,120,025,987 | 8,201,944,919 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
End of period |
$ | 15,570,516,005 | $ | 14,822,269,100 | $ | 13,888,766,936 | $ | 13,120,025,987 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
(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 |
95 |
(For a share outstanding throughout each period)
iShares Micro-Cap ETF |
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended 09/30/21 (unaudited) |
Year Ended |
Year Ended |
Year Ended |
Year Ended |
Year Ended |
|||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 146.73 | $ | 67.33 | $ | 92.88 | $ | 96.11 | $ | 85.68 | $ | 68.00 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net investment income(a) |
0.35 | 0.96 | 0.94 | 0.89 | 0.79 | 0.85 | ||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) |
(2.29 | ) | 79.50 | (25.28 | ) | (3.24 | ) | 10.68 | 17.82 | |||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net increase (decrease) from investment operations |
(1.94 | ) | 80.46 | (24.34 | ) | (2.35 | ) | 11.47 | 18.67 | |||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Distributions(c) |
||||||||||||||||||||||||||||||||||||||||||||||
From net investment income |
(0.39 | ) | (1.06 | ) | (1.21 | ) | (0.88 | ) | (1.04 | ) | (0.99 | ) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Total distributions |
(0.39 | ) | (1.06 | ) | (1.21 | ) | (0.88 | ) | (1.04 | ) | (0.99 | ) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net asset value, end of period |
$ | 144.40 | $ | 146.73 | $ | 67.33 | $ | 92.88 | $ | 96.11 | $ | 85.68 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Total Return(d) |
||||||||||||||||||||||||||||||||||||||||||||||
Based on net asset value |
(1.34 | )%(e) | 120.24 | % | (26.47 | )% | (2.48 | )% | 13.43 | % | 27.60 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Ratios to Average Net Assets |
||||||||||||||||||||||||||||||||||||||||||||||
Total expenses |
0.60 | %(f) | 0.60 | % | 0.60 | % | 0.60 | % | 0.60 | % | 0.60 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net investment income |
0.47 | %(f) | 0.92 | % | 1.03 | % | 0.91 | % | 0.86 | % | 1.09 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 1,256,238 | $ | 1,386,589 | $ | 562,206 | $ | 882,335 | $ | 879,375 | $ | 852,535 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Portfolio turnover rate(g) |
34 | %(e) | 35 | % | 24 | % | 25 | % | 22 | % | 21 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(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) |
Annualized. |
(g) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
96 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell 2500 ETF | ||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||
Six Months Ended 09/30/21 (unaudited) |
|
|
Year Ended 03/31/21 |
|
|
Year Ended 03/31/20 |
|
|
Year Ended 03/31/19 |
|
|
Period
From 07/06/17 to 03/31/18 |
(a)
| |||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period. |
$ | 62.85 | $ | 33.62 | $ | 44.13 | $ | 43.24 | $ | 39.34 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net investment income(b) |
0.42 | 0.75 | 0.72 | 0.65 | 0.42 | |||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(c) |
1.17 | 29.21 | (10.50 | ) | 1.22 | 3.88 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net increase (decrease) from investment operations |
1.59 | 29.96 | (9.78 | ) | 1.87 | 4.30 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Distributions(d) |
||||||||||||||||||||||||||||||||||||||
From net investment income |
(0.37 | ) | (0.73 | ) | (0.73 | ) | (0.62 | ) | (0.40 | ) | ||||||||||||||||||||||||||||
From net realized gain |
— | — | — | (0.36 | ) | — | ||||||||||||||||||||||||||||||||
Return of capital |
— | — | — | — | (0.00 | )(e) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total distributions |
(0.37 | ) | (0.73 | ) | (0.73 | ) | (0.98 | ) | (0.40 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net asset value, end of period |
$ | 64.07 | $ | 62.85 | $ | 33.62 | $ | 44.13 | $ | 43.24 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total Return(f) |
||||||||||||||||||||||||||||||||||||||
Based on net asset value |
2.51 | %(g) | 89.71 | % | (22.47 | )% | 4.49 | % | 10.96 | %(g) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Ratios to Average Net Assets |
||||||||||||||||||||||||||||||||||||||
Total expenses(h) |
0.15 | %(i) | 0.15 | % | 0.15 | % | 0.15 | % | 0.15 | %(i) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total expenses after fees waived(h) |
0.07 | %(i) | 0.07 | % | 0.07 | % | 0.06 | % | 0.07 | %(i) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net investment income |
1.28 | %(i) | 1.44 | % | 1.60 | % | 1.49 | % | 1.37 | %(i) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 336,391 | $ | 267,118 | $ | 42,021 | $ | 35,302 | $ | 6,486 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Portfolio turnover rate(j)(k) |
10 | %(g) | 16 | % | 14 | % | 12 | % | 5 | %(g) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Commencement of operations. |
(b) |
Based on average shares outstanding. |
(c) |
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. |
(d) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(e) |
Rounds to less than $0.01. |
(f) |
Where applicable, assumes the reinvestment of distributions. |
(g) |
Not annualized. |
(h) |
The Fund indirectly bears its proportionate share of fees and expenses incurred by the underlying fund in which the Fund is invested (“acquired fund fees and expenses”). This ratio does not include these acquired fund fees and expenses. |
(i) |
Annualized. |
(j) |
Portfolio turnover rate excludes in-kind transactions. |
(k) |
Portfolio turnover rate excludes the portfolio activity of the underlying fund in which the Fund is invested. See the underlying fund’s financial highlights for its respective portfolio turnover rates. |
See notes to financial statements.
F I N A N C I A L H I G H L I G H T S |
97 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell 3000 ETF | ||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended (unaudited) |
Year Ended 03/31/21 |
Year Ended 03/31/20 |
Year Ended 03/31/19 |
Year Ended 03/31/18 |
Year Ended 03/31/17 |
|||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 237.19 | $ | 148.31 | $ | 166.74 | $ | 156.30 | $ | 139.89 | $ | 120.86 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net investment income(a) |
1.45 | 2.73 | 2.91 | 2.78 | 2.53 | 2.34 | ||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) |
17.64 | 89.03 | (18.04 | ) | 10.52 | 16.45 | 19.07 | |||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net increase (decrease) from investment operations |
19.09 | 91.76 | (15.13 | ) | 13.30 | 18.98 | 21.41 | |||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Distributions(c) |
||||||||||||||||||||||||||||||||||||||||||||||
From net investment income |
(1.38 | ) | (2.88 | ) | (3.30 | ) | (2.86 | ) | (2.57 | ) | (2.38 | ) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Total distributions |
(1.38 | ) | (2.88 | ) | (3.30 | ) | (2.86 | ) | (2.57 | ) | (2.38 | ) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net asset value, end of period |
$ | 254.90 | $ | 237.19 | $ | 148.31 | $ | 166.74 | $ | 156.30 | $ | 139.89 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Total Return(d) |
||||||||||||||||||||||||||||||||||||||||||||||
Based on net asset value |
8.04 | %(e) | 62.21 | % | (9.29 | )% | 8.59 | % | 13.64 | % | 17.87 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Ratios to Average Net Assets |
||||||||||||||||||||||||||||||||||||||||||||||
Total expenses |
0.20 | %(f) | 0.20 | % | 0.20 | % | 0.20 | % | 0.20 | % | 0.20 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net investment income |
1.13 | %(f) | 1.37 | % | 1.69 | % | 1.72 | % | 1.68 | % | 1.81 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 11,661,872 | $ | 10,958,347 | $ | 8,230,988 | $ | 9,379,045 | $ | 8,182,126 | $ | 7,379,312 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Portfolio turnover rate(g) |
3 | %(e) | 4 | % | 5 | % | 5 | % | 4 | % | 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) |
Annualized. |
(g) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
98 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell Mid-Cap ETF | ||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Six Months Ended 09/30/21 (unaudited) |
|
|
Year Ended 03/31/21 |
|
|
Year Ended 03/31/20 |
|
|
Year Ended 03/31/19 |
(a) |
|
Year Ended 03/31/18 |
(a) |
|
Year Ended 03/31/17 |
(a) | |||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 73.93 | $ | 43.20 | $ | 53.93 | $ | 51.61 | $ | 46.82 | $ | 40.76 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Net investment income(b) |
0.39 | 0.74 | 0.91 | 0.81 | 0.76 | 0.68 | ||||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(c) |
4.34 | 30.79 | (10.71 | ) | 2.44 | 4.84 | 6.12 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Net increase (decrease) from investment operations |
4.73 | 31.53 | (9.80 | ) | 3.25 | 5.60 | 6.80 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Distributions(d) |
||||||||||||||||||||||||||||||||||||||||||||||||
From net investment income |
(0.42 | ) | (0.80 | ) | (0.93 | ) | (0.93 | ) | (0.81 | ) | (0.74 | ) | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Total distributions |
(0.42 | ) | (0.80 | ) | (0.93 | ) | (0.93 | ) | (0.81 | ) | (0.74 | ) | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Net asset value, end of period |
$ | 78.24 | $ | 73.93 | $ | 43.20 | $ | 53.93 | $ | 51.61 | $ | 46.82 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Total Return(e) |
||||||||||||||||||||||||||||||||||||||||||||||||
Based on net asset value |
6.38 | %(f) | 73.38 | % | (18.44 | )% | 6.38 | % | 12.02 | % | 16.79 | % | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Ratios to Average Net Assets |
||||||||||||||||||||||||||||||||||||||||||||||||
Total expenses |
0.18 | %(g) | 0.19 | % | 0.19 | % | 0.19 | % | 0.20 | % | 0.20 | % | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Net investment income |
0.99 | %(g) | 1.23 | % | 1.63 | % | 1.55 | % | 1.53 | % | 1.56 | % | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 29,044,521 | $ | 27,123,317 | $ | 15,753,591 | $ | 18,593,536 | $ | 16,988,034 | $ | 15,468,666 | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
Portfolio turnover rate(h) |
10 | %(f) | 14 | % | 10 | % | 11 | % | 10 | % | 11 | % | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Per share amounts reflect a four-for-one stock split effective after the close of trading on October 25, 2018. |
(b) |
Based on average shares outstanding. |
(c) |
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. |
(d) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(e) |
Where applicable, assumes the reinvestment of distributions. |
(f) |
Not annualized. |
(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 |
99 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell Mid-Cap Growth ETF | ||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||
|
Six Months Ended 09/30/21 (unaudited) |
|
|
Year
Ended 03/31/21 |
(a) |
|
Year
Ended 03/31/20 |
(a) |
|
Year
Ended 03/31/19 |
(a) |
|
Year
Ended 03/31/18 |
(a) |
|
Year
Ended 03/31/17 |
(a) | |||||||||||
|
||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 102.01 | $ | 60.86 | $ | 67.81 | $ | 61.46 | $ | 51.90 | $ | 46.08 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income(b) |
0.17 | 0.32 | 0.47 | 0.56 | 0.48 | 0.46 | ||||||||||||||||||||||
Net realized and unrealized gain (loss)(c) |
10.15 | 41.16 | (6.97 | ) | 6.35 | 9.58 | 5.89 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) from investment operations |
10.32 | 41.48 | (6.50 | ) | 6.91 | 10.06 | 6.35 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Distributions(d) |
||||||||||||||||||||||||||||
From net investment income |
(0.19 | ) | (0.33 | ) | (0.45 | ) | (0.56 | ) | (0.50 | ) | (0.53 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total distributions |
(0.19 | ) | (0.33 | ) | (0.45 | ) | (0.56 | ) | (0.50 | ) | (0.53 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net asset value, end of period |
$ | 112.14 | $ | 102.01 | $ | 60.86 | $ | 67.81 | $ | 61.46 | $ | 51.90 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Return(e) |
||||||||||||||||||||||||||||
Based on net asset value |
10.11 | %(f) | 68.27 | % | (9.67 | )% | 11.28 | % | 19.46 | % | 13.85 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ratios to Average Net Assets |
||||||||||||||||||||||||||||
Total expenses |
0.23 | %(g) | 0.23 | % | 0.24 | % | 0.24 | % | 0.24 | % | 0.25 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income |
0.31 | %(g) | 0.36 | % | 0.65 | % | 0.88 | % | 0.84 | % | 0.94 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 15,570,516 | $ | 14,822,269 | $ | 9,353,644 | $ | 10,217,865 | $ | 8,561,654 | $ | 7,240,120 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Portfolio turnover rate(h) |
31 | %(f) | 23 | % | 23 | % | 20 | % | 24 | % | 27 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Per share amounts reflect a two-for-one stock split effective after the close of trading on December 4, 2020. |
(b) |
Based on average shares outstanding. |
(c) |
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. |
(d) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(e) |
Where applicable, assumes the reinvestment of distributions. |
(f) |
Not annualized. |
(g) |
Annualized. |
(h) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
100 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell Mid-Cap Value ETF | ||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended 09/30/21 (unaudited) |
Year Ended 03/31/21 |
Year Ended 03/31/20 |
Year Ended 03/31/19 |
Year Ended 03/31/18 |
Year Ended 03/31/17 |
|||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 109.15 | $ | 64.10 | $ | 86.86 | $ | 86.44 | $ | 83.02 | $ | 70.95 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net investment income(a) |
0.75 | 1.43 | 1.93 | 1.67 | 1.69 | 1.55 | ||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) |
4.15 | 45.22 | (22.63 | ) | 0.70 | 3.48 | 12.18 | |||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net increase (decrease) from investment operations |
4.90 | 46.65 | (20.70 | ) | 2.37 | 5.17 | 13.73 | |||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Distributions(c) |
||||||||||||||||||||||||||||||||||||||||||||||
From net investment income |
(0.81 | ) | (1.60 | ) | (2.06 | ) | (1.95 | ) | (1.75 | ) | (1.66 | ) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Total distributions |
(0.81 | ) | (1.60 | ) | (2.06 | ) | (1.95 | ) | (1.75 | ) | (1.66 | ) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net asset value, end of period |
$ | 113.24 | $ | 109.15 | $ | 64.10 | $ | 86.86 | $ | 86.44 | $ | 83.02 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Total Return(d) |
||||||||||||||||||||||||||||||||||||||||||||||
Based on net asset value |
4.47 | %(e) | 73.40 | % | (24.28 | )% | 2.78 | % | 6.28 | % | 19.51 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Ratios to Average Net Assets |
||||||||||||||||||||||||||||||||||||||||||||||
Total expenses |
0.23 | %(f) | 0.23 | % | 0.24 | % | 0.24 | % | 0.24 | % | 0.25 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Net investment income |
1.30 | %(f) | 1.65 | % | 2.18 | % | 1.93 | % | 1.98 | % | 2.00 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 13,888,767 | $ | 13,120,026 | $ | 8,201,945 | $ | 11,218,007 | $ | 10,533,292 | $ | 9,555,303 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
Portfolio turnover rate(g) |
18 | %(e) | 25 | % | 20 | % | 25 | % | 20 | % | 21 | % | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(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) |
Annualized. |
(g) |
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 |
101 |
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 |
|||
Micro-Cap |
Diversified | |||
Russell 2500 |
Diversified | |||
Russell 3000 |
Diversified | |||
Russell Mid-Cap |
Diversified | |||
Russell Mid-Cap Growth |
Diversified | |||
Russell Mid-Cap Value |
Diversified |
Currently the iShares Russell 2500 ETF seeks to achieve its investment objective by investing a substantial portion of its assets in an iShares fund (an “underlying fund”). The financial statements, including the accounting policies, and schedules of investments for the underlying Fund are available on iShares.com and should be read in conjunction with the Fund’s financial statements.
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 jurisdictions 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, 2021, 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.
Segregation and Collateralization: In cases where a Fund enters into certain investments (e.g., futures contracts) that would be treated as “senior securities” for 1940 Act purposes, a Fund may segregate or designate on its books and record cash or liquid assets having a market value at least equal to the amount of its future obligations under such investments. Doing so allows the investment to be excluded from treatment as a “senior security.” Furthermore, 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 or obligations.
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.
102 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
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. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under policies approved by the Board of Trustees of the Trust (the “Board”). 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 a policy approved by the Board as reflecting fair value. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) is the committee formed by management to develop global pricing policies and procedures and to oversee the pricing function for all financial instruments.
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. |
• |
Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless the Manager determines such method does not represent fair value. |
• |
Exchange-traded funds and closed-end funds traded on a recognized securities exchange are valued at that day’s last traded price or official closing price, as applicable, on the exchange where the fund is primarily traded. Funds traded on a recognized exchange for which there were no sales on that day may be 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 Global Valuation Committee, in accordance with a policy approved by the Board as reflecting fair value (“Fair Valued Investments”). The fair valuation approaches that may be used by the Global 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 Global Valuation Committee, or its delegate, 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 Global Valuation Committee, or its delegate, deems relevant and consistent with the principles of fair value measurement. The pricing of all Fair Valued Investments is subsequently reported to the Board or a committee thereof on a quarterly basis.
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 Global 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 Global 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.
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 |
103 |
Notes to Financial Statements (unaudited) (continued)
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 BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, 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 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.
104 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
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 | |
Market Value of Securities on Loan |
|
|
Cash Collateral Received |
(a) |
|
Non-Cash Collateral Received |
|
Net Amount | ||||||
|
||||||||||||||||
Micro-Cap |
||||||||||||||||
Barclays Bank PLC |
$ | 10,286,122 | $ | 10,286,122 | $ | — | $ | — | ||||||||
Barclays Capital, Inc. |
760,802 | 760,802 | — | — | ||||||||||||
BMO Capital Markets Corp. |
63,448 | 63,448 | — | — | ||||||||||||
BNP Paribas SA |
22,374,067 | 22,374,067 | — | — | ||||||||||||
BofA Securities, Inc. |
21,531,983 | 21,531,983 | — | — | ||||||||||||
Citadel Clearing LLC |
98,984 | 98,984 | — | — | ||||||||||||
Citigroup Global Markets, Inc. |
6,498,507 | 6,498,507 | — | — | ||||||||||||
Credit Suisse Securities (USA) LLC |
12,986,953 | 12,986,953 | — | — | ||||||||||||
Deutsche Bank Securities, Inc. |
3,792,182 | 3,792,182 | — | — | ||||||||||||
Goldman Sachs & Co. LLC |
23,281,114 | 23,281,114 | — | — | ||||||||||||
HSBC Bank PLC |
5,495,799 | 5,495,799 | — | — | ||||||||||||
ING Financial Markets LLC |
57,220 | 57,220 | — | — | ||||||||||||
J.P. Morgan Securities LLC |
25,796,756 | 25,796,756 | — | — | ||||||||||||
Jefferies LLC |
132,700 | 132,700 | — | — | ||||||||||||
Morgan Stanley |
34,576,986 | 34,576,986 | — | — | ||||||||||||
National Financial Services LLC |
11,350,215 | 11,350,215 | — | — | ||||||||||||
Nomura Securities International, Inc. |
47,460 | 47,460 | — | — | ||||||||||||
Pershing LLC |
92,243 | 90,397 | — | (1,846 | )(b) | |||||||||||
Scotia Capital (USA), Inc. |
543,640 | 543,640 | — | — | ||||||||||||
SG Americas Securities LLC |
28,106 | 28,106 | — | — | ||||||||||||
State Street Bank & Trust Co. |
3,514,285 | 3,514,285 | — | — | ||||||||||||
Toronto Dominion Bank |
3,637,930 | 3,637,930 | — | — | ||||||||||||
UBS AG |
4,963,204 | 4,963,204 | — | — | ||||||||||||
UBS Securities LLC |
669,823 | 669,823 | — | — | ||||||||||||
Virtu Americas LLC |
333,593 | 333,593 | — | — | ||||||||||||
Wells Fargo Bank N.A. |
550,726 | 550,726 | — | — | ||||||||||||
Wells Fargo Securities LLC |
2,788,762 | 2,788,762 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 196,253,610 | $ | 196,251,764 | $ | — | $ | (1,846 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Russell 2500 |
||||||||||||||||
Barclays Bank PLC |
$ | 3,672,146 | $ | 3,672,146 | $ | — | $ | — | ||||||||
BNP Paribas SA |
16,704 | 16,704 | — | — | ||||||||||||
BofA Securities, Inc. |
3,339,787 | 3,339,787 | — | — | ||||||||||||
Citadel Clearing LLC |
202,133 | 202,133 | — | — | ||||||||||||
Citigroup Global Markets, Inc. |
326,381 | 326,381 | — | — | ||||||||||||
Credit Suisse Securities (USA) LLC |
53,743,741 | 53,743,741 | — | — | ||||||||||||
HSBC Bank PLC |
267,945 | 267,945 | — | — | ||||||||||||
ING Financial Markets LLC |
139,876 | 139,876 | — | — | ||||||||||||
J.P. Morgan Securities LLC |
6,588,451 | 6,588,451 | — | — | ||||||||||||
Jefferies LLC |
74,830,839 | 74,830,839 | — | — | ||||||||||||
SG Americas Securities LLC |
831,125 | 831,125 | — | — | ||||||||||||
State Street Bank & Trust Co. |
140,614 | 140,614 | — | — | ||||||||||||
Toronto Dominion Bank |
1,032,949 | 1,032,949 | — | — | ||||||||||||
UBS AG |
2,230,955 | 2,230,955 | — | — | ||||||||||||
UBS Securities LLC |
27,488 | 27,488 | — | — | ||||||||||||
Virtu Americas LLC |
2,838,173 | 2,838,173 | — | — | ||||||||||||
Wells Fargo Bank N.A. |
67,907 | 67,907 | — | — | ||||||||||||
Wells Fargo Securities LLC |
235,577 | 235,577 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 150,532,791 | $ | 150,532,791 | $ | — | $ | — | |||||||||
|
|
|
|
|
|
|
|
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 |
105 |
Notes to Financial Statements (unaudited) (continued)
|
||||||||||||||||
iShares ETF and Counterparty | |
Market Value of Securities on Loan |
|
|
Cash Collateral Received |
(a) |
|
Non-Cash Collateral Received |
|
Net Amount | ||||||
|
||||||||||||||||
Russell 3000 |
||||||||||||||||
Barclays Bank PLC |
$ | 10,079,520 | $ | 10,079,520 | $ | — | $ | — | ||||||||
Barclays Capital, Inc. |
7,213,166 | 7,213,166 | — | — | ||||||||||||
BMO Capital Markets Corp. |
747,881 | 747,881 | — | — | ||||||||||||
BNP Paribas SA |
22,426,728 | 22,426,728 | — | — | ||||||||||||
BofA Securities, Inc. |
7,934,306 | 7,867,127 | — | (67,179 | )(b) | |||||||||||
Citadel Clearing LLC |
1,534,971 | 1,534,971 | — | — | ||||||||||||
Citigroup Global Markets, Inc. |
12,965,182 | 12,965,182 | — | — | ||||||||||||
Credit Suisse Securities (USA) LLC |
4,120,550 | 4,120,550 | — | — | ||||||||||||
Deutsche Bank Securities, Inc. |
1,584,054 | 1,584,054 | — | — | ||||||||||||
Goldman Sachs & Co. LLC |
16,180,548 | 16,180,548 | — | — | ||||||||||||
HSBC Bank PLC |
16,721,598 | 16,721,598 | — | — | ||||||||||||
ING Financial Markets LLC |
2,018 | 2,018 | — | — | ||||||||||||
J.P. Morgan Securities LLC |
30,108,442 | 30,108,442 | — | — | ||||||||||||
Jefferies LLC |
1,240,126 | 1,240,126 | — | — | ||||||||||||
Morgan Stanley |
14,253,132 | 14,253,132 | — | — | ||||||||||||
National Financial Services LLC |
2,941,067 | 2,941,067 | — | — | ||||||||||||
Natixis S.A. |
245,441 | 245,441 | — | — | ||||||||||||
Pershing LLC |
43,644 | 42,888 | — | (756 | )(b) | |||||||||||
RBC Capital Markets LLC |
157,029 | 157,029 | — | — | ||||||||||||
Scotia Capital (USA), Inc. |
7,319,673 | 7,319,673 | — | — | ||||||||||||
State Street Bank & Trust Co. |
263,031 | 263,031 | — | — | ||||||||||||
Toronto Dominion Bank |
3,187,966 | 3,187,966 | — | — | ||||||||||||
UBS AG |
8,934,117 | 8,934,117 | — | — | ||||||||||||
UBS Securities LLC |
3,804,650 | 3,804,650 | — | — | ||||||||||||
Virtu Americas LLC |
149,992 | 149,992 | — | — | ||||||||||||
Wells Fargo Bank N.A. |
1,093,505 | 1,093,505 | — | — | ||||||||||||
Wells Fargo Securities LLC |
1,075,326 | 1,075,326 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 176,327,663 | $ | 176,259,728 | $ | — | $ | (67,935 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Russell Mid-Cap |
||||||||||||||||
Barclays Bank PLC |
$ | 83,324,577 | $ | 83,324,577 | $ | — | $ | — | ||||||||
Barclays Capital, Inc. |
2,525,909 | 2,525,909 | — | — | ||||||||||||
BMO Capital Markets Corp. |
744,143 | 744,143 | — | — | ||||||||||||
BNP Paribas SA |
116,959,689 | 116,959,689 | — | — | ||||||||||||
BofA Securities, Inc. |
49,395,651 | 49,395,651 | — | — | ||||||||||||
Citadel Clearing LLC |
2,953,175 | 2,953,175 | — | — | ||||||||||||
Citigroup Global Markets, Inc. |
146,507,057 | 146,507,057 | — | — | ||||||||||||
Credit Suisse Securities (USA) LLC |
18,251,950 | 18,251,950 | — | — | ||||||||||||
Deutsche Bank Securities, Inc. |
1,086,707 | 1,086,707 | — | — | ||||||||||||
Goldman Sachs & Co. LLC |
111,307,447 | 111,307,447 | — | — | ||||||||||||
HSBC Bank PLC |
4,927,838 | 4,927,838 | — | — | ||||||||||||
ING Financial Markets LLC |
60,030 | 60,030 | — | — | ||||||||||||
J.P. Morgan Securities LLC |
192,803,760 | 192,803,760 | — | — | ||||||||||||
Jefferies LLC |
287,851 | 287,851 | — | — | ||||||||||||
Morgan Stanley |
63,024,538 | 63,024,538 | — | — | ||||||||||||
National Financial Services LLC |
11,606,399 | 11,068,137 | — | (538,262 | )(b) | |||||||||||
Natixis S.A. |
3,026,405 | 3,026,405 | — | — | ||||||||||||
Nomura Securities International, Inc. |
97,108 | 97,108 | — | — | ||||||||||||
Scotia Capital (USA), Inc. |
13,723,374 | 13,723,374 | — | — | ||||||||||||
SG Americas Securities LLC |
3,481,153 | 3,481,153 | — | — | ||||||||||||
State Street Bank & Trust Co. |
6,409,601 | 6,409,601 | — | — | ||||||||||||
Toronto Dominion Bank |
29,997,964 | 29,997,964 | — | — | ||||||||||||
UBS AG |
50,198,415 | 50,198,415 | — | — | ||||||||||||
UBS Securities LLC |
16,380,327 | 16,380,327 | — | — | ||||||||||||
Wells Fargo Bank N.A. |
6,687,706 | 6,687,706 | — | — | ||||||||||||
Wells Fargo Securities LLC |
9,836,683 | 9,836,683 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 945,605,457 | $ | 945,067,195 | $ | — | $ | (538,262 | ) | ||||||||
|
|
|
|
|
|
|
|
106 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
|
||||||||||||||||
iShares ETF and Counterparty | |
Market Value of Securities on Loan |
|
|
Cash Collateral Received |
(a) |
|
Non-Cash Collateral Received |
|
|
Net Amount |
| ||||
|
||||||||||||||||
Russell Mid-Cap Growth |
||||||||||||||||
Barclays Bank PLC |
$ | 29,248,569 | $ | 28,722,439 | $ | — | $ | (526,130 | )(b) | |||||||
Barclays Capital, Inc. |
1,636,383 | 1,635,055 | — | (1,328 | )(b) | |||||||||||
BMO Capital Markets Corp. |
111,440 | 105,641 | — | (5,799 | )(b) | |||||||||||
BNP Paribas SA |
136,002,762 | 135,419,283 | — | (583,479 | )(b) | |||||||||||
BofA Securities, Inc. |
45,869,881 | 45,521,856 | — | (348,025 | )(b) | |||||||||||
Citadel Clearing LLC |
7,357,359 | 7,137,450 | — | (219,909 | )(b) | |||||||||||
Citigroup Global Markets, Inc. |
126,021,945 | 124,397,025 | — | (1,624,920 | )(b) | |||||||||||
Credit Suisse Securities (USA) LLC |
31,393,325 | 31,211,336 | — | (181,989 | )(b) | |||||||||||
Deutsche Bank Securities, Inc. |
16,424 | 15,970 | — | (454 | )(b) | |||||||||||
Goldman Sachs & Co. LLC |
63,483,444 | 62,904,225 | — | (579,219 | )(b) | |||||||||||
HSBC Bank PLC |
11,704,791 | 11,704,791 | — | — | ||||||||||||
ING Financial Markets LLC |
293,490 | 293,490 | — | — | ||||||||||||
J.P. Morgan Securities LLC |
157,457,358 | 154,370,116 | — | (3,087,242 | )(b) | |||||||||||
Morgan Stanley |
167,788,898 | 160,760,748 | — | (7,028,150 | )(b) | |||||||||||
National Financial Services LLC |
17,284,194 | 15,715,321 | — | (1,568,873 | )(b) | |||||||||||
Natixis S.A. |
4,354,360 | 4,354,360 | — | — | ||||||||||||
Nomura Securities International, Inc. |
34,186 | 34,186 | — | — | ||||||||||||
Scotia Capital (USA), Inc. |
1,156 | 1,141 | — | (15 | )(b) | |||||||||||
SG Americas Securities LLC |
7,340,856 | 6,907,251 | — | (433,605 | )(b) | |||||||||||
State Street Bank & Trust Co. |
4,769,400 | 4,622,944 | — | (146,456 | )(b) | |||||||||||
Toronto Dominion Bank |
1,789,014 | 1,789,014 | — | — | ||||||||||||
UBS AG |
40,442,762 | 38,490,735 | — | (1,952,027 | )(b) | |||||||||||
UBS Securities LLC |
23,846,029 | 22,945,333 | — | (900,696 | )(b) | |||||||||||
Virtu Americas LLC |
1,879,194 | 1,830,855 | — | (48,339 | )(b) | |||||||||||
Wells Fargo Bank N.A. |
6,926,962 | 6,622,966 | — | (303,996 | )(b) | |||||||||||
Wells Fargo Securities LLC |
3,864,473 | 3,756,155 | — | (108,318 | )(b) | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 890,918,655 | $ | 871,269,686 | $ | — | $ | (19,648,969 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Russell Mid-Cap Value |
||||||||||||||||
Barclays Bank PLC |
$ | 9,625,722 | $ | 9,625,722 | $ | — | $ | — | ||||||||
Barclays Capital, Inc. |
3,576,970 | 3,576,970 | — | — | ||||||||||||
BNP Paribas SA |
43,717,933 | 43,717,933 | — | — | ||||||||||||
BofA Securities, Inc. |
12,456,844 | 12,456,844 | — | — | ||||||||||||
Citadel Clearing LLC |
196,570 | 196,570 | — | — | ||||||||||||
Citigroup Global Markets, Inc. |
27,422,052 | 27,422,052 | — | — | ||||||||||||
Credit Suisse Securities (USA) LLC |
17,235,581 | 17,235,581 | — | — | ||||||||||||
Deutsche Bank Securities, Inc. |
1,228,751 | 1,228,751 | — | — | ||||||||||||
Goldman Sachs & Co. LLC |
19,616,922 | 19,616,922 | — | — | ||||||||||||
HSBC Bank PLC |
1,431,138 | 1,431,138 | — | — | ||||||||||||
J.P. Morgan Securities LLC |
30,621,037 | 30,621,037 | — | — | ||||||||||||
Jefferies LLC |
398,051 | 398,051 | — | — | ||||||||||||
Morgan Stanley |
14,515,782 | 14,515,782 | — | — | ||||||||||||
National Financial Services LLC |
1,964,181 | 1,964,181 | — | — | ||||||||||||
SG Americas Securities LLC |
559,456 | 559,456 | — | — | ||||||||||||
State Street Bank & Trust Co. |
7,745,900 | 7,745,900 | — | — | ||||||||||||
Toronto Dominion Bank |
7,917,483 | 7,917,483 | — | — | ||||||||||||
UBS AG |
10,280,999 | 10,280,999 | — | — | ||||||||||||
UBS Securities LLC |
4,483,730 | 4,483,730 | — | — | ||||||||||||
Virtu Americas LLC |
486,445 | 484,419 | — | (2,026 | )(b) | |||||||||||
Wells Fargo Securities LLC |
256,550 | 256,550 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 215,738,097 | $ | 215,736,071 | $ | — | $ | (2,026 | ) | ||||||||
|
|
|
|
|
|
|
|
(a) |
Collateral received 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 Fund’s statement of assets and liabilities. |
(b) |
The market value of the loaned securities is determined as of September 30, 2021. 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 a 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
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 |
107 |
Notes to Financial Statements (unaudited) (continued)
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 at 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 each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:
iShares ETF | Investment Advisory Fee | |||
Micro-Cap |
0.60 | % | ||
Russell 2500 |
0.15 | |||
Russell 3000 |
0.20 |
For its investment advisory services to the iShares Russell Mid-Cap 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 average daily net assets of the Fund and certain other iShares funds, as follows:
Aggregate Average Daily Net Assets | Investment Advisory Fee | |||
First $121 billion |
0.2000 | % | ||
Over $121 billion, up to and including $181 billion |
0.1900 | |||
Over $181 billion, up to and including $231 billion |
0.1805 | |||
Over $231 billion, up to and including $281 billion |
0.1715 | |||
Over $281 billion |
0.1630 |
For its investment advisory services to each of the iShares Russell Mid-Cap Growth and iShares Russell Mid-Cap Value ETFs, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on each Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:
Aggregate Average Daily Net Assets | Investment Advisory Fee | |||
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 |
108 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
Expense Waivers: A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies (“acquired fund fees and expenses”). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund’s total annual operating expenses. Total expenses as shown in the Statement of Operations does not include acquired fund fees and expenses.
For the iShares Russell 2500 ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through July 31, 2022 in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund’s investments in other iShares funds, provided that the waiver be no greater than the Fund’s investment advisory fee of 0.15%.
This amount is included in investment advisory fees waived in the Statements of Operations. For the six months ended September 30, 2021, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:
iShares ETF | Amounts waived | |||
Russell 2500 |
$ | 128,801 |
Distributor: BlackRock Investments, LLC, 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.
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. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the “collateral investment fees”). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, 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 77% 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.
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, 2021, the Funds paid BTC the following amounts for securities lending agent services:
iShares ETF | Fees Paid to BTC |
|||
Micro-Cap |
$ | 523,228 | ||
Russell 2500 |
90,955 | |||
Russell 3000 |
145,216 | |||
Russell Mid-Cap |
597,981 | |||
Russell Mid-Cap Growth |
594,701 | |||
Russell Mid-Cap Value |
154,922 |
Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.
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 |
109 |
Notes to Financial Statements (unaudited) (continued)
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, 2021, 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) | |||||||||
Micro-Cap |
$ | 75,338,547 | $ | 175,081,531 | $ | 36,603,209 | ||||||
Russell 2500 |
13,267,000 | 5,555,100 | (990,284 | ) | ||||||||
Russell 3000 |
46,661,158 | 66,868,864 | (6,344,256 | ) | ||||||||
Russell Mid-Cap |
913,505,247 | 947,756,011 | (75,768,577 | ) | ||||||||
Russell Mid-Cap Growth |
2,505,083,168 | 2,211,549,391 | 11,646,507 | |||||||||
Russell Mid-Cap Value |
1,505,883,247 | 1,723,695,443 | 434,059,533 |
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, 2021, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:
iShares ETF | Purchases | Sales | ||||||
Micro-Cap |
$ | 450,969,782 | $ | 452,709,695 | ||||
Russell 2500 |
31,471,463 | 31,395,351 | ||||||
Russell 3000 |
366,072,424 | 366,690,472 | ||||||
Russell Mid-Cap |
2,966,681,071 | 2,936,059,973 | ||||||
Russell Mid-Cap Growth |
4,763,649,653 | 4,779,690,018 | ||||||
Russell Mid-Cap Value |
2,574,073,297 | 2,564,509,381 |
For the six months ended September 30, 2021, in-kind transactions were as follows:
iShares ETF | In-kind Purchases |
In-kind Sales |
||||||
Micro-Cap |
$ | 183,411,151 | $ | 290,646,474 | ||||
Russell 2500 |
87,670,098 | 23,004,301 | ||||||
Russell 3000 |
387,369,402 | 504,335,747 | ||||||
Russell Mid-Cap |
1,988,278,582 | 1,700,331,209 | ||||||
Russell Mid-Cap Growth |
3,429,790,084 | 4,128,433,259 | ||||||
Russell Mid-Cap Value |
936,176,977 | 658,393,842 |
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.
Management has analyzed tax laws and regulations and their application to the Funds as of September 30, 2021, 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, 2021, the Funds had non-expiring capital loss carryforwards available to offset future realized capital gains as follows:
iShares ETF | Non-Expiring | |||
Micro-Cap |
$ | 167,055,446 | ||
Russell 2500 |
342,063 | |||
Russell 3000 |
133,494,308 | |||
Russell Mid-Cap |
1,132,451,882 | |||
Russell Mid-Cap Growth |
998,195,710 | |||
Russell Mid-Cap Value |
1,155,965,224 |
110 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as “passive foreign investment companies.” Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.
As of September 30, 2021, 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) |
||||||||||||
Micro-Cap. |
$ | 1,381,899,928 | $ | 268,615,962 | $ | (189,762,178 | ) | $ | 78,853,784 | |||||||
Russell 2500 |
439,902,844 | 56,532,589 | (4,988,328 | ) | 51,544,261 | |||||||||||
Russell 3000 |
7,597,099,610 | 4,752,539,353 | (512,453,637 | ) | 4,240,085,716 | |||||||||||
Russell Mid-Cap |
19,704,795,180 | 11,222,518,867 | (926,395,574 | ) | 10,296,123,293 | |||||||||||
Russell Mid-Cap Growth |
12,348,785,166 | 4,504,232,607 | (413,302,274 | ) | 4,090,930,333 | |||||||||||
Russell Mid-Cap Value |
11,455,441,310 | 3,206,440,024 | (543,778,620 | ) | 2,662,661,404 |
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: Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund’s portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio’s current earnings rate.
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. 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 the Manager 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.
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 |
111 |
Notes to Financial Statements (unaudited) (continued)
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.
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 a 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.
Certain 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.
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 will be phased out by the end of 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 09/30/21 |
Year Ended 03/31/21 |
|||||||||||||||||
|
|
|
|
|||||||||||||||
iShares ETF | Shares | Amount | Shares | Amount | ||||||||||||||
|
||||||||||||||||||
Micro-Cap |
||||||||||||||||||
Shares sold |
1,250,000 | $ | 188,984,015 | 1,900,000 | $ | 258,640,222 | ||||||||||||
Shares redeemed |
(2,000,000 | ) | (298,737,155 | ) | (800,000 | ) | (84,103,438 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Net increase (decrease) |
(750,000 | ) | $ | (109,753,140 | ) | 1,100,000 | $ | 174,536,784 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Russell 2500 |
||||||||||||||||||
Shares sold |
1,350,000 | $ | 87,997,030 | 3,250,000 | $ | 166,498,017 | ||||||||||||
Shares redeemed |
(350,000 | ) | (23,252,463 | ) | (250,000 | ) | (12,034,465 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Net increase |
1,000,000 | $ | 64,744,567 | 3,000,000 | $ | 154,463,552 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Russell 3000 |
||||||||||||||||||
Shares sold |
1,550,000 | $ | 390,072,388 | 2,250,000 | $ | 455,681,225 | ||||||||||||
Shares redeemed |
(2,000,000 | ) | (510,227,227 | ) | (11,550,000 | ) | (2,208,040,262 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Net decrease |
(450,000 | ) | $ | (120,154,839 | ) | (9,300,000 | ) | $ | (1,752,359,037 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||||
Russell Mid-Cap |
||||||||||||||||||
Shares sold |
25,550,000 | $ | 2,001,003,165 | 51,900,000 | $ | 2,889,310,154 | ||||||||||||
Shares redeemed |
(21,250,000 | ) | (1,692,680,903 | ) | (49,700,000 | ) | (2,687,513,218 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Net increase |
4,300,000 | $ | 308,322,262 | 2,200,000 | $ | 201,796,936 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Russell Mid-Cap Growth |
||||||||||||||||||
Shares sold |
30,850,000 | $ | 3,433,758,040 | 53,000,000 | (a) | $ | 4,406,706,279 | |||||||||||
Shares redeemed |
(37,300,000 | ) | (4,144,098,505 | ) | (61,400,000 | )(a) | (5,216,060,590 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Net decrease |
(6,450,000 | ) | $ | (710,340,465 | ) | (8,400,000 | ) | $ | (809,354,311 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||||
Russell Mid-Cap Value |
||||||||||||||||||
Shares sold |
8,250,000 | $ | 941,568,455 | 15,200,000 | $ | 1,399,838,175 | ||||||||||||
Shares redeemed |
(5,800,000 | ) | (662,655,976 | ) | (22,950,000 | ) | (2,007,089,795 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Net increase (decrease) |
2,450,000 | $ | 278,912,479 | (7,750,000 | ) | $ | (607,251,620 | ) | ||||||||||
|
|
|
|
|
|
|
|
112 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
(a) |
Share transactions reflect a two-for-one stock split effective after the close of trading on December 4, 2020. |
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 State Street Bank and Trust Company, the Trust’s administrator, 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. |
LEGAL PROCEEDINGS |
Certain iShares funds (the “Impacted Funds”), along with thousands of other former shareholders of Tribune Company (“Tribune”), were named as defendants in one or more lawsuits (the “Litigation”) arising out of Tribune’s 2007 leveraged buyout transaction (“LBO”). The Litigation seeks to “claw back” from former Tribune shareholders, including the Impacted Funds, proceeds received in connection with the LBO. The iShares Russell 3000 ETF, iShares Russell MidCap ETF and iShares Russell MidCap Value ETF received proceeds of $518,568, $2,662,268 and $4,836,058, respectively, in the LBO. The claims that were originally brought against the Impacted Funds were dismissed but are currently subject to an appeal which remains pending. The outcome of this appeal could result in new claims being brought against the Impacted Funds and/or previously dismissed claims being revived and subject to continuing litigation. The Impacted Funds intend to vigorously defend the Litigation.
12. |
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.
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 |
113 |
Board Review and Approval of Investment Advisory Contract
iShares Micro-Cap 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”) 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 7, 2021 and May 14, 2021, 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 15-16, 2021, 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 (including, where applicable, funds sponsored by an “at cost” service provider), objectively selected by Broadridge as comprising the Fund’s applicable 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 overall fund expenses (net of waivers and reimbursements) for the Fund were higher than the median of overall fund 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 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 Services Provided: Based on management’s representations, including information about recent and proposed enhancements 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, which were provided at the May 7, 2021 meeting and throughout the year.
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
114 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Board Review and Approval of Investment Advisory Contract (continued)
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 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, were within a reasonable range in light of the factors and other information considered.
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 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 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 also considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement. The Board 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 (i) 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 and (ii) other technology-related initiatives aimed to better support the iShares funds. The Board further 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 2500 ETF, iShares Russell 3000 ETF (each 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”) 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
B O A R D R E V I E W A N D A P P R O V A L O F I N V E S T M E N T A D V I S O R Y C O N T R A C T |
115 |
Board Review and Approval of Investment Advisory Contract (continued)
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 7, 2021 and May 14, 2021, 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 15-16, 2021, 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 (including, where applicable, funds sponsored by an “at cost” service provider), objectively selected by Broadridge as comprising the Fund’s applicable 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 overall fund expenses (net of waivers and reimbursements) for the Fund were lower than the median of the overall fund 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, 2020, to that of 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 Services Provided: Based on management’s representations, including information about recent and proposed enhancements 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, which were provided at the May 7, 2021 meeting and throughout the year.
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,
116 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Board Review and Approval of Investment Advisory Contract (continued)
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 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, were within a reasonable range in light of the factors and other information considered.
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 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 also considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement. The Board 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 (i) 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 and (ii) other technology-related initiatives aimed to better support the iShares funds. The Board further 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 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
B O A R D R E V I E W A N D A P P R O V A L O F I N V E S T M E N T A D V I S O R Y C O N T R A C T |
117 |
Board Review and Approval of Investment Advisory Contract (continued)
Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) 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 7, 2021 and May 14, 2021, 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 15-16, 2021, 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 (including, where applicable, funds sponsored by an “at cost” service provider), objectively selected by Broadridge as comprising the Fund’s applicable 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 overall fund expenses (net of waivers and reimbursements) for the Fund were higher than the median of overall fund 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 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 Services Provided: Based on management’s representations, including information about recent and proposed enhancements 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, which were provided at the May 7, 2021 meeting and throughout the year.
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,
118 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Board Review and Approval of Investment Advisory Contract (continued)
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 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, were within a reasonable range in light of the factors and other information considered.
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 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 further 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 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 also considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement. The Board 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 (i) 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 and (ii) other technology-related initiatives aimed to better support the iShares funds. The Board further 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 Growth 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
B O A R D R E V I E W A N D A P P R O V A L O F I N V E S T M E N T A D V I S O R Y C O N T R A C T |
119 |
Board Review and Approval of Investment Advisory Contract (continued)
Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) 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 7, 2021 and May 14, 2021, 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 15-16, 2021, 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 (including, where applicable, funds sponsored by an “at cost” service provider), objectively selected by Broadridge as comprising the Fund’s applicable 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 overall fund expenses (net of waivers and reimbursements) for the Fund were lower than the median of the overall fund 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 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 Services Provided: Based on management’s representations, including information about recent and proposed enhancements 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, which were provided at the May 7, 2021 meeting and throughout the year.
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,
120 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Board Review and Approval of Investment Advisory Contract (continued)
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 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, were within a reasonable range in light of the factors and other information considered.
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 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 further 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 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 do not 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 also considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement. The Board 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 (i) 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 and (ii) other technology-related initiatives aimed to better support the iShares funds. The Board further 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”) 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
B O A R D R E V I E W A N D A P P R O V A L O F I N V E S T M E N T A D V I S O R Y C O N T R A C T |
121 |
Board Review and Approval of Investment Advisory Contract (continued)
evaluate the Advisory Agreement. At meetings on May 7, 2021 and May 14, 2021, 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 15-16, 2021, 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 (including, where applicable, funds sponsored by an “at cost” service provider), objectively selected by Broadridge as comprising the Fund’s applicable 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 overall fund expenses (net of waivers and reimbursements) for the Fund were lower than the median of the overall fund 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 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 Services Provided: Based on management’s representations, including information about recent and proposed enhancements 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, which were provided at the May 7, 2021 meeting and throughout the year.
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 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, were within a reasonable range in light of the factors and other information considered.
122 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Board Review and Approval of Investment Advisory Contract (continued)
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 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 further 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 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 also considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement. The Board 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 (i) 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 and (ii) other technology-related initiatives aimed to better support the iShares funds. The Board further 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.
B O A R D R E V I E W A N D A P P R O V A L O F I N V E S T M E N T A D V I S O R Y C O N T R A C T |
123 |
Supplemental Information (unaudited)
Regulation Regarding Derivatives
On October 28, 2020, the Securities and Exchange Commission (the “SEC”) adopted new regulations governing the use of derivatives by registered investment companies (“Rule 18f-4”). The Funds will be required to implement and comply with Rule 18f-4 by August 19, 2022. Once implemented, Rule 18f-4 will impose limits on the amount of derivatives a fund can enter into, eliminate the asset segregation framework currently used by funds to comply with Section 18 of the 1940 Act, treat derivatives as senior securities and require funds whose use of derivatives is more than a limited specified exposure amount to establish and maintain a comprehensive derivatives risk management program and appoint a derivatives risk manager.
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, 2021
Total Cumulative
Distributions for the Fiscal Year-to-Date |
% Breakdown of the Total
Cumulative Distributions for the Fiscal Year-to-Date |
|||||||||||||||||||||||||||||||||||
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 |
||||||||||||||||||||||||||||
Micro-Cap(a) |
$ | 0.373544 | $ | — | $ | 0.015410 | $ | 0.388954 | 96 | % | — | % | 4 | % | 100 | % | ||||||||||||||||||||
Russell 2500(a) |
0.266623 | — | 0.102942 | 0.369565 | 72 | — | 28 | 100 | ||||||||||||||||||||||||||||
Russell 3000(a) |
1.353126 | — | 0.023949 | 1.377075 | 98 | — | 2 | 100 | ||||||||||||||||||||||||||||
Russell Mid-Cap(a) |
0.398396 | — | 0.020033 | 0.418429 | 95 | — | 5 | 100 | ||||||||||||||||||||||||||||
Russell Mid-Cap Growth(a) |
0.185455 | — | 0.004573 | 0.190028 | 98 | — | 2 | 100 | ||||||||||||||||||||||||||||
Russell Mid-Cap Value(a) |
0.767010 | — | 0.041313 | 0.808323 | 95 | — | 5 | 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. |
124 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Electronic Delivery
Shareholders can sign up for email 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:
• |
Go to icsdelivery.com. |
• |
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 Company’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.
G E N E R A L I N F O R M A T I O N |
125 |
Glossary of Terms Used in this Report
Portfolio Abbreviations - Equity | ||
NVS | Non-Voting Shares | |
REIT | Real Estate Investment Trust |
126 |
2 0 2 1 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
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.
©2021 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-306-0921
|