LOGO

  SEPTEMBER 30, 2021

 

  

2021 Semi-Annual Report

(Unaudited)

 

iShares Trust

 

·  

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

 

·  

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

 

·  

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

 


The Markets in Review

Dear Shareholder,

The 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

 

LOGO

Rob Kapito

President, BlackRock, Inc.

 

LOGO

Rob Kapito

President, BlackRock, Inc.

 

Total Returns as of September 30, 2021
     
      6-Month  
   12-Month  
   

U.S. large cap equities
(S&P 500® Index)

  9.18%   30.00%
   

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

  (0.25)   47.68
   

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

  4.70   25.73
   

Emerging market equities
(MSCI Emerging Markets Index)

  (3.45)   18.20
   

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

  0.01   0.07
   

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

  2.92   (6.22)
   

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

  1.88   (0.90)
   

Tax-exempt municipal bonds
(S&P Municipal Bond Index)

  1.24   2.71
   

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

  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  

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


Table of Contents

 

      Page  

The Markets in Review

     2  

Fund Summary

     4  

About Fund Performance

     7  

Shareholder Expenses

     7  

Schedules of Investments

     8  

Financial Statements

  

Statements of Assets and Liabilities

     31  

Statements of Operations

     32  

Statements of Changes in Net Assets

     33  

Financial Highlights

     35  

Notes to Financial Statements

     38  

Board Review and Approval of Investment Advisory Contract

     46  

Supplemental Information

     48  

General Information

     49  

Glossary of Terms Used in this Report

     50  


Fund Summary  as of September 30, 2021    iShares® ESG Screened S&P 500 ETF

 

Investment Objective

The iShares ESG Screened S&P 500 ETF (the “Fund”) seeks to track the investment results of an index composed of large-capitalization U.S. equities while applying screens for company involvement in controversies and controversial business activities, as represented by the S&P 500 Sustainability Screened Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance

 

              Average Annual Total Returns   

 

         

Cumulative Total Returns

 

 
     6 Months     1 Year      Since   
Inception   
           1 Year      Since
Inception
 

Fund NAV

    9.61     29.72      30.95%         29.72      31.82

Fund Market

    9.58       29.77        31.30            29.77        32.18  

Index

    9.64       29.91        31.19                  29.91        31.99  

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

Past performance is no guarantee of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” on page 7 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          $      1,096.10          $        0.42               $      1,000.00          $      1,024.70          $        0.41          0.08

 

  (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 7 for more information.

 

Portfolio Information

 

ALLOCATION BY SECTOR

 

   
Sector    
Percent of
Total Investments
 
(a) 

Information Technology

    30.2

Consumer Discretionary

    13.5  

Health Care

    13.2  

Communication Services

    12.2  

Financials

    11.9  

Industrials

    6.5  

Consumer Staples

    5.0  

Real Estate

    2.8  

Materials

    2.6  

Utilities

    1.3  

Energy

    0.8  

 

  (a) 

Excludes money market funds.

 

TEN LARGEST HOLDINGS

 

   
Security    
Percent of
Total Investments
 
(a) 

Apple Inc.

    6.7

Microsoft Corp.

    6.3  

Amazon.com Inc.

    4.3  

Facebook Inc., Class A

    2.4  

Alphabet Inc., Class A

    2.4  

Alphabet Inc., Class C

    2.3  

Tesla Inc.

    1.9  

NVIDIA Corp.

    1.5  

Berkshire Hathaway Inc., Class B

    1.5  

JPMorgan Chase & Co.

    1.5  

 

 

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Fund Summary  as of September 30, 2021    iShares® ESG Screened S&P Mid-Cap ETF

 

Investment Objective

The iShares ESG Screened S&P Mid Cap ETF (the “Fund”) seeks to track the investment results of an index composed of mid-capitalization U.S. equities while applying screens for company involvement in controversies and controversial business activities, as represented by the S&P MidCap 400 Sustainability Screened Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to 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

    1.06     42.33      43.53%         42.33      44.81

Fund Market

    0.95       42.28        43.76            42.28        45.05  

Index

    1.14       42.70        43.99                  42.70        45.16  

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

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 7 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          $      1,010.60          $        0.60               $      1,000.00          $      1,024.50          $        0.61          0.12

 

  (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 7 for more information.

 

Portfolio Information

 

ALLOCATION BY SECTOR

 

   
Sector    
Percent of
Total Investments
 
(a) 

Industrials

    18.8

Consumer Discretionary

    15.9  

Financials

    15.7  

Information Technology

    14.8  

Real Estate

    10.5  

Health Care

    10.3  

Materials

    6.0  

Consumer Staples

    3.0  

Utilities

    2.0  

Communication Services

    1.8  

Energy

    1.2  

 

  (a) 

Excludes money market funds.

 

TEN LARGEST HOLDINGS

 

   
Security    
Percent of
Total Investments
 
(a) 

Signature Bank/New York NY

    0.8

Molina Healthcare Inc.

    0.7  

FactSet Research Systems Inc.

    0.7  

Camden Property Trust

    0.7  

Repligen Corp.

    0.7  

Cognex Corp.

    0.7  

SolarEdge Technologies Inc.

    0.6  

Masimo Corp.

    0.6  

Williams-Sonoma Inc.

    0.6  

Nordson Corp.

    0.6  

 

 

 F U N D  U M M A R Y

  5


Fund Summary  as of September 30, 2021     iShares® ESG Screened S&P Small-Cap ETF

 

Investment Objective

The iShares ESG Screened S&P Small Cap ETF (the “Fund”) seeks to track the investment results of an index composed of small-capitalization U.S. equities while applying screens for company involvement in controversies and controversial business activities, as represented by the S&P SmallCap 600 Sustainability Screened Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance

 

              Average Annual Total Returns   

 

         

Cumulative Total Returns

 

 
     6 Months     1 Year      Since   
Inception   
           1 Year      Since
Inception
 

Fund NAV

    0.45     54.12      54.36%            54.12      56.02

Fund Market

    0.35       53.80        54.28            53.80        55.94  

Index

    0.52       55.10        55.57                  55.10        57.10  

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

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 7 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          $      1,004.50          $        0.60               $      1,000.00          $      1,024.50          $        0.61          0.12

 

  (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 7 for more information.

 

Portfolio Information

 

ALLOCATION BY SECTOR

 

   
Sector    
Percent of
Total Investments
 
(a) 

Industrials

    17.4

Financials

    16.7  

Information Technology

    14.6  

Consumer Discretionary

    14.3  

Health Care

    13.0  

Real Estate

    8.8  

Materials

    5.4  

Consumer Staples

    4.2  

Energy

    2.3  

Communication Services

    1.7  

Utilities

    1.6  

TEN LARGEST HOLDINGS

 

   
Security    
Percent of
Total Investments
 
(a) 

Chart Industries Inc.

    0.7

Omnicell Inc.

    0.7  

Stamps.com Inc.

    0.6  

Power Integrations Inc.

    0.6  

NeoGenomics Inc.

    0.6  

Exponent Inc.

    0.6  

SPS Commerce Inc.

    0.6  

Innovative Industrial Properties Inc.

    0.6  

AMN Healthcare Services Inc.

    0.6  

Macy’s Inc.

    0.5  

 

  (a) 

Excludes money market funds.

 

 

 

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About Fund Performance

 

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

Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined 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.

Shareholder Expenses

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.

 

 

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

  7


Schedule of Investments  (unaudited)

September 30, 2021

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

   
Aerospace & Defense — 0.1%  

Howmet Aerospace Inc.

    1,712     $ 53,414  

TransDigm Group Inc.(a)

    242       151,146  
   

 

 

 
      204,560  
Air Freight & Logistics — 0.7%  

CH Robinson Worldwide Inc.

    560       48,720  

Expeditors International of Washington Inc.

    737       87,799  

FedEx Corp.

    1,078       236,394  

United Parcel Service Inc., Class B

    3,199       582,538  
   

 

 

 
      955,451  
Airlines — 0.3%  

Alaska Air Group Inc.(a)

    544       31,878  

American Airlines Group Inc.(a)

    2,831       58,092  

Delta Air Lines Inc.(a)

    2,832       120,672  

Southwest Airlines Co.(a)

    2,593       133,358  

United Airlines Holdings Inc.(a)

    1,412       67,169  
   

 

 

 
      411,169  
Auto Components — 0.2%            

Aptiv PLC(a)

    1,175       175,040  

BorgWarner Inc.

    1,059       45,759  
   

 

 

 
      220,799  
Automobiles — 2.3%            

Ford Motor Co.(a)

    17,268       244,515  

General Motors Co.(a)

    6,396       337,133  

Tesla Inc.(a)

    3,561       2,761,484  
   

 

 

 
      3,343,132  
Banks — 4.2%            

Bank of America Corp.

    32,500       1,379,625  

Citigroup Inc.

    8,898       624,462  

Citizens Financial Group Inc.

    1,872       87,946  

Comerica Inc.

    600       48,300  

Fifth Third Bancorp.

    3,036       128,848  

First Republic Bank/CA

    782       150,832  

Huntington Bancshares Inc./OH

    6,498       100,459  

JPMorgan Chase & Co.

    13,106       2,145,321  

KeyCorp

    4,195       90,696  

M&T Bank Corp.

    550       82,137  

People’s United Financial Inc.

    1,891       33,036  

PNC Financial Services Group Inc. (The)

    1,870       365,847  

Regions Financial Corp.

    4,172       88,905  

SVB Financial Group(a)

    260       168,189  

Truist Financial Corp.

    5,875       344,569  

U.S. Bancorp.

    5,900       350,696  

Zions Bancorp. NA

    706       43,694  
   

 

 

 
      6,233,562  
Beverages — 1.5%            

Brown-Forman Corp., Class B, NVS

    800       53,608  

Coca-Cola Co. (The)

    17,066       895,453  

Constellation Brands Inc., Class A

    729       153,593  

Molson Coors Beverage Co., Class B

    824       38,217  

Monster Beverage Corp.(a)

    1,665       147,902  

PepsiCo Inc.

    6,062       911,786  
   

 

 

 
      2,200,559  
Biotechnology — 2.1%            

AbbVie Inc.

    7,753       836,316  

Amgen Inc.

    2,492       529,924  

Biogen Inc.(a)

    645       182,529  

Gilead Sciences Inc.

    5,506       384,594  
Security   Shares     Value  
Biotechnology (continued)            

Incyte Corp.(a)

    815     $ 56,056  

Moderna Inc.(a)

    1,532       589,605  

Regeneron Pharmaceuticals Inc.(a)

    455       275,357  

Vertex Pharmaceuticals Inc.(a)

    1,142       207,147  
   

 

 

 
      3,061,528  
Building Products — 0.5%            

A O Smith Corp.

    562       34,321  

Allegion PLC

    375       49,567  

Carrier Global Corp.

    3,822       197,827  

Fortune Brands Home & Security Inc.

    616       55,083  

Johnson Controls International PLC

    3,123       212,614  

Masco Corp.

    1,081       60,050  

Trane Technologies PLC

    1,053       181,800  
   

 

 

 
      791,262  
Capital Markets — 3.3%            

Ameriprise Financial Inc.

    512       135,230  

Bank of New York Mellon Corp. (The)

    3,487       180,766  

BlackRock Inc.(b)

    627       525,840  

Cboe Global Markets Inc.

    456       56,480  

Charles Schwab Corp. (The)

    6,597       480,526  

CME Group Inc.

    1,585       306,507  

Franklin Resources Inc.

    1,242       36,912  

Goldman Sachs Group Inc. (The)

    1,490       563,265  

Intercontinental Exchange Inc.

    2,476       284,294  

Invesco Ltd.

    1,506       36,310  

MarketAxess Holdings Inc.

    172       72,359  

Moody’s Corp.

    711       252,483  

Morgan Stanley

    6,408       623,563  

MSCI Inc.

    360       219,002  

Nasdaq Inc.

    520       100,370  

Northern Trust Corp.

    907       97,784  

Raymond James Financial Inc.

    801       73,916  

S&P Global Inc.

    1,061       450,808  

State Street Corp.

    1,604       135,891  

T Rowe Price Group Inc.

    989       194,536  
   

 

 

 
      4,826,842  
Chemicals — 1.7%            

Air Products & Chemicals Inc.

    973       249,195  

Albemarle Corp.

    519       113,645  

Celanese Corp.

    504       75,923  

CF Industries Holdings Inc.

    951       53,085  

Corteva Inc.

    3,226       135,750  

Dow Inc.

    3,274       188,451  

Eastman Chemical Co.

    601       60,545  

Ecolab Inc.

    1,082       225,727  

FMC Corp.

    549       50,266  

International Flavors & Fragrances Inc.

    1,083       144,819  

Linde PLC

    2,253       660,985  

LyondellBasell Industries NV, Class A

    1,161       108,960  

Mosaic Co. (The)

    1,530       54,652  

PPG Industries Inc.

    1,049       150,017  

Sherwin-Williams Co. (The)

    1,063       297,353  
   

 

 

 
      2,569,373  
Commercial Services & Supplies — 0.5%            

Cintas Corp.

    376       143,128  

Copart Inc.(a)

    951       131,923  

Republic Services Inc.

    909       109,134  

Rollins Inc.

    988       34,906  

 

 

8  

2 0 2 1  I S H A R E  S  E M I - A N N U A L  E P O R T  T O  H A  R E H O L D E R S


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Commercial Services & Supplies (continued)            

Waste Management Inc.

    1,694     $ 253,016  
   

 

 

 
      672,107  
Communications Equipment — 0.9%            

Arista Networks Inc.(a)

    254       87,285  

Cisco Systems Inc.

    18,504       1,007,173  

F5 Networks Inc.(a)

    263       52,279  

Juniper Networks Inc.

    1,426       39,243  

Motorola Solutions Inc.

    731       169,826  
   

 

 

 
      1,355,806  
Construction & Engineering — 0.0%            

Quanta Services Inc.

    618       70,341  
   

 

 

 
Construction Materials — 0.1%            

Martin Marietta Materials Inc.

    272       92,937  

Vulcan Materials Co.

    597       100,989  
   

 

 

 
      193,926  
Consumer Finance — 0.7%            

American Express Co.

    2,830       474,110  

Capital One Financial Corp.

    1,962       317,785  

Discover Financial Services

    1,324       162,653  

Synchrony Financial

    2,502       122,298  
   

 

 

 
      1,076,846  
Containers & Packaging — 0.4%            

Amcor PLC

    6,779       78,569  

Avery Dennison Corp.

    362       75,010  

Ball Corp.

    1,435       129,107  

International Paper Co.

    1,711       95,679  

Packaging Corp. of America

    430       59,099  

Sealed Air Corp.

    648       35,504  

Westrock Co.

    1,171       58,351  
   

 

 

 
      531,319  
Distributors — 0.1%            

Genuine Parts Co.

    624       75,647  

LKQ Corp.(a)

    1,179       59,327  

Pool Corp.

    177       76,891  
   

 

 

 
      211,865  
Diversified Financial Services — 1.5%            

Berkshire Hathaway Inc., Class B(a)

    8,125       2,217,639  
   

 

 

 
Diversified Telecommunication Services — 1.3%            

AT&T Inc.

    31,339       846,466  

Lumen Technologies Inc.

    4,339       53,760  

Verizon Communications Inc.

    18,169       981,308  
   

 

 

 
      1,881,534  
Electric Utilities — 0.9%            

Edison International

    1,681       93,245  

Entergy Corp.

    887       88,088  

Eversource Energy

    1,513       123,703  

Exelon Corp.

    4,289       207,330  

FirstEnergy Corp.

    2,399       85,452  

NextEra Energy Inc.

    8,619       676,764  
   

 

 

 
      1,274,582  
Electrical Equipment — 0.6%            

AMETEK Inc.

    999       123,886  

Eaton Corp. PLC

    1,760       262,785  

Emerson Electric Co.

    2,644       249,065  

Generac Holdings Inc.(a)

    272       111,158  

Rockwell Automation Inc.

    518       152,313  
   

 

 

 
      899,207  
Security   Shares     Value  
Electronic Equipment, Instruments & Components — 0.7%        

Amphenol Corp., Class A

    2,608     $ 190,984  

CDW Corp./DE

    611       111,214  

Corning Inc.

    3,370       122,971  

IPG Photonics Corp.(a)

    163       25,819  

Keysight Technologies Inc.(a)

    806       132,418  

TE Connectivity Ltd.

    1,432       196,499  

Teledyne Technologies Inc.(a)

    196       84,198  

Trimble Inc.(a)

    1,087       89,406  

Zebra Technologies Corp., Class A(a)

    245       126,278  
   

 

 

 
      1,079,787  
Energy Equipment & Services — 0.2%            

Baker Hughes Co.

    3,647       90,190  

Halliburton Co.

    3,918       84,707  

Schlumberger NV

    6,151       182,316  
   

 

 

 
      357,213  
Entertainment — 2.1%            

Activision Blizzard Inc.

    3,403       263,358  

Electronic Arts Inc.

    1,246       177,244  

Live Nation Entertainment Inc.(a)

    594       54,131  

Netflix Inc.(a)

    1,948       1,188,942  

Take-Two Interactive Software Inc.(a)

    521       80,271  

Walt Disney Co. (The)(a)

    7,988       1,351,330  
   

 

 

 
      3,115,276  
Equity Real Estate Investment Trusts (REITs) — 2.7%        

Alexandria Real Estate Equities Inc.

    613       117,126  

American Tower Corp.

    1,985       526,839  

AvalonBay Communities Inc.

    619       137,195  

Boston Properties Inc.

    623       67,502  

Crown Castle International Corp.

    1,887       327,055  

Digital Realty Trust Inc.

    1,243       179,551  

Duke Realty Corp.

    1,671       79,991  

Equinix Inc.

    382       301,830  

Equity Residential

    1,501       121,461  

Essex Property Trust Inc.

    277       88,568  

Extra Space Storage Inc.

    599       100,626  

Federal Realty Investment Trust

    295       34,807  

Healthpeak Properties Inc.

    2,388       79,950  

Host Hotels & Resorts Inc.(a)

    3,189       52,076  

Iron Mountain Inc.

    1,262       54,834  

Kimco Realty Corp.

    2,658       55,154  

Mid-America Apartment Communities Inc.

    519       96,923  

Prologis Inc.

    3,230       405,139  

Public Storage

    684       203,217  

Realty Income Corp.

    1,706       110,651  

Regency Centers Corp.

    686       46,188  

SBA Communications Corp.

    470       155,368  

Simon Property Group Inc.

    1,436       186,637  

UDR Inc.

    1,234       65,377  

Ventas Inc.

    1,671       92,256  

Vornado Realty Trust

    697       29,281  

Welltower Inc.

    1,854       152,770  

Weyerhaeuser Co.

    3,297       117,274  
   

 

 

 
      3,985,646  
Food & Staples Retailing — 0.9%            

Costco Wholesale Corp.

    1,946       874,435  

Kroger Co. (The)

    3,004       121,452  

Sysco Corp.

    2,240       175,840  

Walgreens Boots Alliance Inc.

    3,138       147,643  
   

 

 

 
      1,319,370  

 

 

C H E D U L E  O F  N V E S T M E N  T S

  9


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Food Products — 0.9%            

Archer-Daniels-Midland Co.

    2,476     $ 148,585  

Campbell Soup Co.

    887       37,085  

Conagra Brands Inc.

    2,125       71,974  

General Mills Inc.

    2,662       159,241  

Hershey Co. (The)

    634       107,304  

Hormel Foods Corp.

    1,241       50,881  

JM Smucker Co. (The)

    463       55,574  

Kellogg Co.

    1,136       72,613  

Kraft Heinz Co. (The)

    2,954       108,766  

Lamb Weston Holdings Inc.

    634       38,909  

McCormick & Co. Inc./MD, NVS

    1,086       87,998  

Mondelez International Inc., Class A

    6,132       356,760  

Tyson Foods Inc., Class A

    1,273       100,491  
   

 

 

 
      1,396,181  
Gas Utilities — 0.0%            

Atmos Energy Corp.

    553       48,775  
   

 

 

 
Health Care Equipment & Supplies — 4.1%            

Abbott Laboratories

    7,770       917,870  

ABIOMED Inc.(a)

    191       62,174  

Align Technology Inc.(a)

    334       222,254  

Baxter International Inc.

    2,204       177,268  

Becton Dickinson and Co.

    1,254       308,258  

Boston Scientific Corp.(a)

    6,245       270,971  

Cooper Companies Inc. (The)

    204       84,315  

Danaher Corp.

    2,779       846,039  

DENTSPLY SIRONA Inc.

    970       56,308  

Dexcom Inc.(a)

    432       236,244  

Edwards Lifesciences Corp.(a)

    2,748       311,101  

Hologic Inc.(a)

    1,127       83,184  

IDEXX Laboratories Inc.(a)

    368       228,859  

Intuitive Surgical Inc.(a)

    526       522,923  

Medtronic PLC

    5,891       738,437  

ResMed Inc.

    632       166,564  

STERIS PLC

    437       89,270  

Stryker Corp.

    1,485       391,624  

Teleflex Inc.

    197       74,180  

West Pharmaceutical Services Inc.

    336       142,645  

Zimmer Biomet Holdings Inc.

    905       132,456  
   

 

 

 
      6,062,944  
Health Care Providers & Services — 2.8%            

AmerisourceBergen Corp.

    647       77,284  

Anthem Inc.

    1,069       398,523  

Cardinal Health Inc.

    1,268       62,715  

Centene Corp.(a)

    2,574       160,386  

Cigna Corp.

    1,502       300,640  

CVS Health Corp.

    5,792       491,509  

DaVita Inc.(a)

    286       33,250  

HCA Healthcare Inc.

    1,079       261,895  

Henry Schein Inc.(a)

    621       47,296  

Humana Inc.

    554       215,589  

Laboratory Corp. of America Holdings(a)

    432       121,582  

McKesson Corp.

    691       137,772  

Quest Diagnostics Inc.

    537       78,032  

UnitedHealth Group Inc.

    4,154       1,623,134  

Universal Health Services Inc., Class B

    341       47,184  
   

 

 

 
      4,056,791  
Health Care Technology — 0.1%            

Cerner Corp.

    1,312       92,522  
   

 

 

 
Security   Shares     Value  
Hotels, Restaurants & Leisure — 2.3%            

Booking Holdings Inc.(a)

    179     $ 424,923  

Caesars Entertainment Inc.(a)

    952       106,890  

Carnival Corp.(a)

    3,537       88,460  

Chipotle Mexican Grill Inc.(a)

    123       223,555  

Darden Restaurants Inc.

    555       84,066  

Domino’s Pizza Inc.

    167       79,652  

Expedia Group Inc.(a)

    634       103,913  

Hilton Worldwide Holdings Inc.(a)

    1,228       162,231  

Las Vegas Sands Corp.(a)

    1,513       55,376  

Marriott International Inc./MD, Class A(a)

    1,218       180,374  

McDonald’s Corp.

    3,283       791,564  

MGM Resorts International

    1,763       76,073  

Norwegian Cruise Line Holdings Ltd.(a)(c)

    1,620       43,270  

Penn National Gaming Inc.(a)

    697       50,505  

Royal Caribbean Cruises Ltd.(a)

    984       87,527  

Starbucks Corp.

    5,172       570,523  

Wynn Resorts Ltd.(a)

    459       38,900  

Yum! Brands Inc.

    1,312       160,471  
   

 

 

 
      3,328,273  
Household Durables — 0.4%            

DR Horton Inc.

    1,435       120,497  

Garmin Ltd.

    683       106,179  

Leggett & Platt Inc.

    604       27,083  

Lennar Corp., Class A

    1,219       114,196  

Mohawk Industries Inc.(a)

    253       44,882  

Newell Brands Inc.

    1,679       37,173  

NVR Inc.(a)

    15       71,911  

PulteGroup Inc.

    1,157       53,130  

Whirlpool Corp.

    272       55,450  
   

 

 

 
      630,501  
Household Products — 1.5%            

Church & Dwight Co. Inc.

    1,074       88,680  

Clorox Co. (The)

    537       88,933  

Colgate-Palmolive Co.

    3,714       280,704  

Kimberly-Clark Corp.

    1,491       197,468  

Procter & Gamble Co. (The)

    10,664       1,490,827  
   

 

 

 
      2,146,612  
Industrial Conglomerates — 0.5%            

General Electric Co.

    4,810       495,574  

Roper Technologies Inc.

    458       204,328  
   

 

 

 
      699,902  
Insurance — 2.1%            

Aflac Inc.

    2,730       142,315  

Allstate Corp. (The)

    1,312       167,031  

American International Group Inc.

    3,760       206,386  

Aon PLC, Class A

    987       282,055  

Arthur J Gallagher & Co.

    904       134,379  

Assurant Inc.

    260       41,015  

Chubb Ltd.

    1,934       335,510  

Cincinnati Financial Corp.

    642       73,329  

Everest Re Group Ltd.

    176       44,137  

Globe Life Inc.

    423       37,660  

Hartford Financial Services Group Inc. (The)

    1,523       106,991  

Lincoln National Corp.

    793       54,519  

Loews Corp.

    893       48,159  

Marsh & McLennan Companies Inc.

    2,224       336,780  

MetLife Inc.

    3,205       197,845  

Principal Financial Group Inc.

    1,089       70,132  

Progressive Corp. (The)

    2,579       233,116  

 

 

10  

2 0 2 1  I S H A R E  S  E M I - A N N U A L  E P O R T  T O  H A  R E H O L D E R S


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares
    Value  
Insurance (continued)  

Prudential Financial Inc.

    1,699     $ 178,735  

Travelers Companies Inc. (The)

    1,088       165,387  

W R Berkley Corp.

    627       45,884  

Willis Towers Watson PLC.

    557       129,480  
   

 

 

 
      3,030,845  
Interactive Media & Services — 7.2%            

Alphabet Inc., Class A(a)

    1,326       3,545,088  

Alphabet Inc., Class C, NVS(a)

    1,240       3,304,984  

Facebook Inc., Class A(a)

    10,477       3,555,789  

Twitter Inc.(a)

    3,494       211,003  
   

 

 

 
      10,616,864  
Internet & Direct Marketing Retail — 4.5%            

Amazon.com Inc.(a)

    1,913       6,284,281  

eBay Inc.

    2,849       198,490  

Etsy Inc.(a)

    547       113,754  
   

 

 

 
      6,596,525  
IT Services — 5.3%            

Accenture PLC, Class A

    2,776       888,098  

Akamai Technologies Inc.(a)

    715       74,782  

Automatic Data Processing Inc.

    1,864       372,651  

Broadridge Financial Solutions Inc.

    515       85,820  

Cognizant Technology Solutions Corp., Class A

    2,305       171,054  

DXC Technology Co.(a)

    1,139       38,282  

Fidelity National Information Services Inc.

    2,694       327,806  

Fiserv Inc.(a)

    2,604       282,534  

FleetCor Technologies Inc.(a)

    360       94,057  

Gartner Inc.(a)

    364       110,612  

Global Payments Inc.

    1,307       205,957  

International Business Machines Corp.

    3,928       545,717  

Jack Henry & Associates Inc.

    334       54,796  

Mastercard Inc., Class A

    3,825       1,329,876  

Paychex Inc.

    1,408       158,330  

PayPal Holdings Inc.(a)

    5,159       1,342,423  

VeriSign Inc.(a)

    434       88,974  

Visa Inc., Class A

    7,402       1,648,795  

Western Union Co. (The)

    1,766       35,709  
   

 

 

 
      7,856,273  
Leisure Products — 0.0%            

Hasbro Inc.

    555       49,517  
   

 

 

 
Life Sciences Tools & Services — 1.5%            

Agilent Technologies Inc.

    1,336       210,460  

Bio-Rad Laboratories Inc., Class A(a)

    92       68,627  

Charles River Laboratories International Inc.(a)

    237       97,803  

Illumina Inc.(a)

    638       258,779  

IQVIA Holdings Inc.(a)

    830       198,818  

Mettler-Toledo International Inc.(a)

    97       133,604  

PerkinElmer Inc.

    507       87,858  

Thermo Fisher Scientific Inc.

    1,715       979,831  

Waters Corp.(a)

    269       96,114  
   

 

 

 
      2,131,894  
Machinery — 1.7%            

Caterpillar Inc.

    2,402       461,112  

Cummins Inc.

    629       141,248  

Deere & Co.

    1,245       417,162  

Dover Corp.

    632       98,276  

Fortive Corp.

    1,585       111,853  

IDEX Corp.

    340       70,363  

Illinois Tool Works Inc.

    1,256       259,527  
Security   Shares
    Value  
Machinery (continued)            

Ingersoll Rand Inc.(a)

    1,782     $ 89,831  

Otis Worldwide Corp.

    1,875       154,275  

PACCAR Inc.

    1,521       120,037  

Parker-Hannifin Corp.

    557       155,748  

Pentair PLC.

    727       52,802  

Snap-on Inc.

    246       51,402  

Stanley Black & Decker Inc.

    712       124,821  

Westinghouse Air Brake Technologies Corp.

    822       70,865  

Xylem Inc./NY

    797       98,573  
   

 

 

 
      2,477,895  
Media — 1.4%            

Charter Communications Inc., Class A(a)

    550       400,158  

Comcast Corp., Class A

    20,109       1,124,696  

Discovery Inc., Class A(a)(c)

    720       18,274  

Discovery Inc., Class C, NVS(a)

    1,343       32,595  

DISH Network Corp., Class A(a)

    1,087       47,241  

Fox Corp., Class A, NVS

    1,420       56,956  

Fox Corp., Class B

    646       23,979  

Interpublic Group of Companies Inc. (The)

    1,713       62,816  

News Corp., Class A, NVS

    1,711       40,260  

News Corp., Class B

    546       12,684  

Omnicom Group Inc.

    949       68,764  

ViacomCBS Inc., Class B, NVS

    2,669       105,452  
   

 

 

 
      1,993,875  
Metals & Mining — 0.4%            

Freeport-McMoRan Inc.

    6,475       210,632  

Newmont Corp.

    3,497       189,887  

Nucor Corp.

    1,306       128,628  
   

 

 

 
      529,147  
Multi-Utilities — 0.3%            

CenterPoint Energy Inc.

    2,565       63,099  

Consolidated Edison Inc.

    1,542       111,934  

Public Service Enterprise Group Inc.

    2,225       135,503  

Sempra Energy

    1,405       177,732  
   

 

 

 
      488,268  
Multiline Retail — 0.6%            

Dollar General Corp.

    1,049       222,535  

Dollar Tree Inc.(a)

    1,001       95,816  

Target Corp.

    2,159       493,914  
   

 

 

 
      812,265  
Oil, Gas & Consumable Fuels — 0.6%            

Kinder Morgan Inc.

    8,563       143,259  

Marathon Petroleum Corp.

    2,826       174,675  

ONEOK Inc.

    1,960       113,661  

Phillips 66

    1,898       132,917  

Valero Energy Corp.

    1,791       126,391  

Williams Companies Inc. (The)

    5,346       138,675  
   

 

 

 
      829,578  
Personal Products — 0.2%            

Estee Lauder Companies Inc. (The), Class A

    1,007       302,030  
   

 

 

 
Pharmaceuticals — 2.6%            

Bristol-Myers Squibb Co.

    9,766       577,854  

Catalent Inc.(a)

    732       97,407  

Eli Lilly & Co.

    3,481       804,285  

Merck & Co. Inc.

    11,117       834,998  

Organon & Co.

    1,088       35,676  

Pfizer Inc.

    24,626       1,059,164  

Viatris Inc.

    5,332       72,249  

 

 

C H E D U L E  O F  N V E S T M E N  T S

  11


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares
    Value  
Pharmaceuticals (continued)            

Zoetis Inc.

    2,067     $ 401,287  
   

 

 

 
      3,882,920  
Professional Services — 0.4%            

Equifax Inc.

    535       135,580  

IHS Markit Ltd.

    1,763       205,601  

Leidos Holdings Inc.

    623       59,889  

Nielsen Holdings PLC

    1,611       30,915  

Robert Half International Inc.

    506       50,767  

Verisk Analytics Inc.

    708       141,791  
   

 

 

 
      624,543  
Real Estate Management & Development — 0.1%            

CBRE Group Inc., Class A(a)

    1,484       144,482  
   

 

 

 
Road & Rail — 1.0%            

CSX Corp.

    9,875       293,682  

JB Hunt Transport Services Inc.

    362       60,534  

Kansas City Southern

    415       112,316  

Norfolk Southern Corp.

    1,076       257,433  

Old Dominion Freight Line Inc.

    423       120,969  

Union Pacific Corp.

    2,857       560,001  
   

 

 

 
      1,404,935  
Semiconductors & Semiconductor Equipment — 6.1%  

Advanced Micro Devices Inc.(a)

    5,330       548,457  

Analog Devices Inc.

    2,378       398,267  

Applied Materials Inc.

    4,008       515,950  

Broadcom Inc.

    1,794       869,964  

Enphase Energy Inc.(a)

    602       90,282  

Intel Corp.

    17,807       948,757  

KLA Corp.

    685       229,139  

Lam Research Corp.

    624       355,150  

Microchip Technology Inc.

    1,218       186,951  

Micron Technology Inc.

    4,922       349,363  

Monolithic Power Systems Inc.

    187       90,635  

NVIDIA Corp.

    10,942       2,266,745  

NXP Semiconductors NV

    1,164       227,993  

Qorvo Inc.(a)

    504       84,264  

QUALCOMM Inc.

    4,968       640,773  

Skyworks Solutions Inc.

    723       119,136  

Teradyne Inc.

    725       79,148  

Texas Instruments Inc.

    4,066       781,526  

Xilinx Inc.

    1,076       162,465  
   

 

 

 
      8,944,965  
Software — 10.1%            

Adobe Inc.(a)

    2,106       1,212,466  

ANSYS Inc.(a)

    373       126,988  

Autodesk Inc.(a)

    970       276,615  

Cadence Design Systems Inc.(a)

    1,227       185,817  

Citrix Systems Inc.

    541       58,087  

Fortinet Inc.(a)

    605       176,684  

Intuit Inc.

    1,186       639,859  

Microsoft Corp.

    32,999       9,303,078  

NortonLifeLock Inc.

    2,567       64,945  

Oracle Corp.

    7,224       629,427  

Paycom Software Inc.(a)

    201       99,646  

PTC Inc.(a)

    453       54,265  

salesforce.com Inc.(a)

    4,267       1,157,296  

ServiceNow Inc.(a)

    876       545,108  

Synopsys Inc.(a)

    685       205,096  
Security   Shares
    Value  
Software (continued)            

Tyler Technologies Inc.(a)

    178     $ 81,640  
   

 

 

 
      14,817,017  
Specialty Retail — 2.4%            

Advance Auto Parts Inc.

    283       59,116  

AutoZone Inc.(a)

    93       157,913  

Bath & Body Works Inc.

    1,164       73,367  

Best Buy Co. Inc.

    981       103,702  

CarMax Inc.(a)

    714       91,363  

Gap Inc. (The)

    912       20,702  

Home Depot Inc. (The)

    4,655       1,528,050  

Lowe’s Companies Inc.

    3,107       630,286  

O’Reilly Automotive Inc.(a)

    292       178,430  

Ross Stores Inc.

    1,577       171,656  

TJX Companies Inc. (The)

    5,311       350,420  

Tractor Supply Co.

    513       103,939  

Ulta Beauty Inc.(a)

    249       89,869  
   

 

 

 
      3,558,813  
Technology Hardware, Storage & Peripherals — 7.0%  

Apple Inc.

    68,950       9,756,425  

Hewlett Packard Enterprise Co.

    5,712       81,396  

HP Inc.

    5,272       144,242  

NetApp Inc.

    980       87,965  

Seagate Technology Holdings PLC

    911       75,176  

Western Digital Corp.(a)

    1,342       75,742  
   

 

 

 
      10,220,946  
Textiles, Apparel & Luxury Goods — 0.7%            

Hanesbrands Inc.

    1,532       26,289  

Nike Inc., Class B

    5,609       814,595  

PVH Corp.(a)

    328       33,715  

Ralph Lauren Corp.

    198       21,986  

Tapestry Inc.

    1,232       45,609  

Under Armour Inc., Class A(a)

    808       16,306  

Under Armour Inc., Class C, NVS(a)

    895       15,680  

VF Corp.

    1,420       95,126  
   

 

 

 
      1,069,306  
Trading Companies & Distributors — 0.2%            

Fastenal Co.

    2,512       129,644  

United Rentals Inc.(a)

    331       116,158  

WW Grainger Inc.

    186       73,109  
   

 

 

 
      318,911  
Water Utilities — 0.1%            

American Water Works Co. Inc.

    800       135,232  
   

 

 

 
Wireless Telecommunication Services — 0.2%  

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

    2,573       328,727  
   

 

 

 
Total Common Stocks — 99.8%            
      (Cost: $142,729,156)         146,688,975  
   

 

 

 
Short-Term Investments            
Money Market Funds — 0.1%            

BlackRock Cash Funds: Institutional, SL Agency Shares, 0.05%(b)(d)(e)

    33,986       34,003  

 

 

12  

2 0 2 1  I S H A R E  S  E M I - A N N U A L  E P O R T  T O  H A  R E H O L D E R S


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares
    Value  
Money Market Funds (continued)            

BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(b)(d)

    120,000     $ 120,000  
   

 

 

 
      154,003  
   

 

 

 

Total Short-Term Investments — 0.1%
(Cost: $154,003)

 

    154,003  
   

 

 

 

Total Investments in Securities — 99.9%
(Cost: $142,883,159)

 

    146,842,978  

Other Assets, Less Liabilities — 0.1%

 

    98,935  
   

 

 

 

Net Assets — 100.0%

 

  $ 146,941,913  
   

 

 

 

 

  (a) 

Non-income producing security.

 
  (b) 

Affiliate of the Fund.

 
  (c) 

All or a portion of this security is on loan.

 
  (d) 

Annualized 7-day yield as of period end.

 
  (e) 

All or a portion of this security was purchased with the cash collateral from loaned securities.

 

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the six months ended September 30, 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

   $      $ 33,983 (a)    $      $ 20      $      $ 34,003        33,986      $ 63 (b)      $  

BlackRock Cash Funds: Treasury, SL Agency Shares

     60,000        60,000 (a)                           120,000        120,000        4         

BlackRock Inc.

     106,308        420,351       (6,152      2,296        3,037        525,840        627        3,015         
          

 

 

    

 

 

    

 

 

       

 

 

    

 

 

 
           $ 2,316      $ 3,037      $ 679,843         $ 3,082      $  
          

 

 

    

 

 

    

 

 

       

 

 

    

 

 

 

 

  (a) 

Represents net amount purchased (sold).

 
  (b) 

All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

 

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

 

Description    Number of
Contracts
     Expiration
Date
     Notional
Amount
(000)
     Value/
Unrealized
Appreciation
(Depreciation)
 

Long Contracts

           

S&P 500 Micro E-Mini Index

     5        12/17/21      $ 107      $ (4,643
           

 

 

 

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)

   $ 4,643  
  

 

 

 

 

  (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).

 

 

 

C H E D U L E  O F  N V E S T M E N  T S

  13


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P 500 ETF

 

For the period ended September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:

 

      Equity
Contracts
 

Net Realized Gain (Loss) from:

  

Futures contracts

   $ 12,811  
  

 

 

 

Net Change in Unrealized Appreciation (Depreciation) on:

  

Futures contracts

   $ (5,397
  

 

 

 

Average Quarterly Balances of Outstanding Derivative Financial Instruments

 

   

Futures contracts:

  

Average notional value of contracts — long

   $ 98,002  

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

   $ 146,688,975        $             —        $             —        $ 146,688,975  

Money Market Funds

     154,003                            154,003  
  

 

 

      

 

 

      

 

 

      

 

 

 
   $ 146,842,978        $        $        $ 146,842,978  
  

 

 

      

 

 

      

 

 

      

 

 

 

Derivative financial instruments(a)

                 

Liabilities

                 

Futures Contracts

   $ (4,643      $        $        $ (4,643
  

 

 

      

 

 

      

 

 

      

 

 

 

 

  (a) 

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

 

See notes to financial statements.

 

 

14  

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Schedule of Investments  (unaudited)

September 30, 2021

  

iShares® ESG Screened S&P Mid-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

 

Aerospace & Defense — 1.1%  

Axon Enterprise Inc.(a)

    1,206     $ 211,074  

Curtiss-Wright Corp.

    753       95,013  

Hexcel Corp.(a)

    1,545       91,758  

Mercury Systems Inc.(a)

    1,031       48,890  
   

 

 

 
      446,735  
Air Freight & Logistics — 0.4%  

GXO Logistics Inc.(a)

    1,810       141,976  
   

 

 

 
Airlines — 0.2%  

JetBlue Airways Corp.(a)

    5,859       89,584  
   

 

 

 
Auto Components — 1.8%  

Adient PLC(a)

    1,736       71,957  

Dana Inc.

    2,676       59,514  

Fox Factory Holding Corp.(a)

    775       112,019  

Gentex Corp.

    4,402       145,178  

Goodyear Tire & Rubber Co. (The)(a)

    5,176       91,615  

Lear Corp.

    1,097       171,659  

Visteon Corp.(a)

    524       49,460  
   

 

 

 
      701,402  
Automobiles — 0.6%  

Harley-Davidson Inc.

    2,835       103,790  

Thor Industries Inc.

    1,020       125,215  
   

 

 

 
      229,005  
Banks — 7.6%  

Associated Banc-Corp.

    2,818       60,362  

BancorpSouth Bank

    1,285       38,267  

Bank of Hawaii Corp.

    756       62,121  

Bank OZK

    2,245       96,490  

Cathay General Bancorp.

    1,460       60,429  

CIT Group Inc.

    1,827       94,913  

Commerce Bancshares Inc.

    1,958       136,433  

Cullen/Frost Bankers Inc.

    1,043       123,721  

East West Bancorp. Inc.

    2,614       202,690  

First Financial Bankshares Inc.

    2,360       108,442  

First Horizon Corp.

    10,121       164,871  

FNB Corp.

    5,887       68,407  

Fulton Financial Corp.

    3,058       46,726  

Glacier Bancorp. Inc.

    1,992       110,257  

Hancock Whitney Corp.

    1,600       75,392  

Home BancShares Inc./AR

    2,781       65,437  

International Bancshares Corp.

    981       40,849  

PacWest Bancorp.

    2,159       97,846  

Pinnacle Financial Partners Inc.

    1,402       131,900  

Prosperity Bancshares Inc.

    1,712       121,775  

Signature Bank/New York NY

    1,114       303,320  

Sterling Bancorp./DE

    3,550       88,608  

Synovus Financial Corp.

    2,698       118,415  

Texas Capital Bancshares Inc.(a)

    946       56,779  

UMB Financial Corp.

    793       76,691  

Umpqua Holdings Corp.

    4,097       82,964  

United Bankshares Inc./WV

    2,380       86,584  

Valley National Bancorp.

    7,492       99,718  

Webster Financial Corp.

    1,669       90,894  

Wintrust Financial Corp.

    1,051       84,469  
   

 

 

 
         2,995,770  
Beverages — 0.2%  

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

    173       88,187  
   

 

 

 
Security   Shares     Value  
Biotechnology — 1.8%  

Arrowhead Pharmaceuticals Inc.(a)

    1,920     $ 119,866  

Emergent BioSolutions Inc.(a)

    897       44,913  

Exelixis Inc.(a)

    5,804       122,696  

Halozyme Therapeutics Inc.(a)

    2,614       106,337  

Neurocrine Biosciences Inc.(a)

    1,738       166,692  

United Therapeutics Corp.(a)

    824       152,094  
   

 

 

 
      712,598  
Building Products — 2.6%  

Builders FirstSource Inc.(a)

    3,805       196,870  

Carlisle Companies Inc.

    958       190,441  

Lennox International Inc.

    628       184,739  

Owens Corning

    1,894       161,937  

Simpson Manufacturing Co. Inc.

    800       85,576  

Trex Co. Inc.(a)

    2,118       215,888  
   

 

 

 
      1,035,451  
Capital Markets — 2.9%  

Affiliated Managers Group Inc.

    760       114,828  

Evercore Inc., Class A

    731       97,713  

FactSet Research Systems Inc.

    694       273,977  

Federated Hermes Inc.

    1,823       59,248  

Interactive Brokers Group Inc., Class A

    1,591       99,183  

Janus Henderson Group PLC

    2,986       123,411  

Jefferies Financial Group Inc.

    3,629       134,745  

SEI Investments Co.

    1,976       117,177  

Stifel Financial Corp.

    1,931       131,231  
   

 

 

 
         1,151,513  
Chemicals — 2.3%  

Ashland Global Holdings Inc.

    1,037       92,418  

Avient Corp.

    1,682       77,961  

Cabot Corp.

    1,046       52,426  

Chemours Co. (The)

    3,043       88,430  

Ingevity Corp.(a)

    728       51,957  

Minerals Technologies Inc.

    630       43,999  

NewMarket Corp.

    133       45,056  

RPM International Inc.

    2,391       185,661  

Scotts Miracle-Gro Co. (The)

    750       109,770  

Sensient Technologies Corp.

    774       70,496  

Valvoline Inc.

    3,330       103,829  
   

 

 

 
      922,003  
Commercial Services & Supplies — 1.9%  

Brink’s Co. (The)

    918       58,109  

Clean Harbors Inc.(a)

    919       95,457  

Herman Miller Inc.

    1,383       52,084  

IAA Inc.(a)

    2,484       135,552  

KAR Auction Services Inc.(a)

    2,196       35,992  

MSA Safety Inc.

    672       97,910  

Stericycle Inc.(a)

    1,692       115,005  

Tetra Tech Inc.

    993       148,295  
   

 

 

 
      738,404  
Communications Equipment — 0.9%  

Ciena Corp.(a)

    2,852       146,450  

Lumentum Holdings Inc.(a)

    1,399       116,873  

NetScout Systems Inc.(a)(b)

    1,394       37,568  

Viasat Inc.(a)

    1,351       74,400  
   

 

 

 
      375,291  
Construction & Engineering — 1.3%  

AECOM(a)

    2,645       167,032  

Dycom Industries Inc.(a)(b)

    578       41,177  

EMCOR Group Inc.

    990       114,226  

 

 

C H E D U L E  O F  N V E S T M E N  T S

  15


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P Mid-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Construction & Engineering (continued)  

MasTec Inc.(a)

    1,054     $ 90,939  

Valmont Industries Inc.

    390       91,697  
   

 

 

 
      505,071  
Construction Materials — 0.3%  

Eagle Materials Inc.

    769       100,862  
   

 

 

 
Consumer Finance — 0.6%  

LendingTree Inc.(a)

    216       30,203  

Navient Corp.

    3,082       60,808  

PROG Holdings Inc.

    1,225       51,462  

SLM Corp.

    5,634       99,159  
   

 

 

 
      241,632  
Containers & Packaging — 0.9%  

AptarGroup Inc.

    1,215       145,010  

Greif Inc., Class A, NVS

    487       31,460  

Silgan Holdings Inc.

    1,542       59,151  

Sonoco Products Co.

    1,811       107,900  
   

 

 

 
      343,521  
Diversified Consumer Services — 1.0%  

Graham Holdings Co., Class B

    75       44,187  

Grand Canyon Education Inc.(a)

    833       73,271  

H&R Block Inc.

    3,280       82,000  

Service Corp. International

    3,077       185,420  
   

 

 

 
      384,878  
Diversified Telecommunication Services — 0.2%  

Iridium Communications Inc.(a)

    2,430       96,835  
   

 

 

 
Electric Utilities — 0.2%  

Hawaiian Electric Industries Inc.

    2,014       82,232  
   

 

 

 
Electrical Equipment — 1.8%  

Acuity Brands Inc.

    658       114,077  

EnerSys

    784       58,361  

Hubbell Inc.

    998       180,309  

nVent Electric PLC

    3,097       100,126  

Regal Beloit Corp.

    747       112,304  

Sunrun Inc.(a)

    3,782       166,408  
   

 

 

 
      731,585  
Electronic Equipment, Instruments & Components — 3.4%  

Arrow Electronics Inc.(a)

    1,323       148,560  

Avnet Inc.

    1,833       67,766  

Belden Inc.

    840       48,938  

Cognex Corp.

    3,244       260,234  

Coherent Inc.(a)

    452       113,041  

II-VI Inc.(a)

    1,932       114,683  

Jabil Inc.

    2,678       156,315  

Littelfuse Inc.

    454       124,065  

National Instruments Corp.

    2,450       96,113  

SYNNEX Corp.

    766       79,741  

Vishay Intertechnology Inc.

    2,484       49,903  

Vontier Corp.

    3,136       105,370  
   

 

 

 
         1,364,729  
Energy Equipment & Services — 0.2%  

ChampionX Corp.(a)

    3,683       82,352  
   

 

 

 
Entertainment — 0.1%  

World Wrestling Entertainment Inc., Class A

    846       47,596  
   

 

 

 
Equity Real Estate Investment Trusts (REITs) — 9.9%  

American Campus Communities Inc.

    2,554       123,741  
Security   Shares     Value  
Equity Real Estate Investment Trusts (REITs) (continued)  

Apartment Income REIT Corp.

    2,882     $ 140,670  

Brixmor Property Group Inc.

    5,472       120,986  

Camden Property Trust

    1,847       272,377  

CoreSite Realty Corp.

    812       112,495  

Corporate Office Properties Trust

    2,070       55,849  

Cousins Properties Inc.

    2,740       102,175  

CyrusOne Inc.

    2,278       176,340  

Douglas Emmett Inc.

    3,222       101,847  

EastGroup Properties Inc.

    742       123,640  

EPR Properties

    1,379       68,095  

First Industrial Realty Trust Inc.

    2,371       123,482  

Healthcare Realty Trust Inc.

    2,672       79,572  

Highwoods Properties Inc.

    1,914       83,948  

Hudson Pacific Properties Inc.

    2,809       73,792  

JBG SMITH Properties

    2,166       64,135  

Kilroy Realty Corp.

    1,931       127,852  

Lamar Advertising Co., Class A

    1,593       180,726  

Life Storage Inc.

    1,438       164,996  

Macerich Co. (The)

    3,923       65,553  

Medical Properties Trust Inc.

    10,939       219,546  

National Retail Properties Inc.

    3,225       139,288  

National Storage Affiliates Trust

    1,498       79,079  

Omega Healthcare Investors Inc.

    4,401       131,854  

Park Hotels & Resorts Inc.(a)

    4,357       83,393  

Pebblebrook Hotel Trust

    2,420       54,232  

Physicians Realty Trust

    4,052       71,396  

PotlatchDeltic Corp.

    1,235       63,701  

PS Business Parks Inc.

    376       58,934  

Rayonier Inc.

    2,603       92,875  

Rexford Industrial Realty Inc.

    2,529       143,521  

Sabra Health Care REIT Inc.

    4,120       60,646  

SL Green Realty Corp.

    1,237       87,629  

Spirit Realty Capital Inc.

    2,187       100,690  

STORE Capital Corp.

    4,490       143,815  

Urban Edge Properties

    2,073       37,957  
   

 

 

 
         3,930,827  
Food & Staples Retailing — 0.5%  

BJ’s Wholesale Club Holdings Inc.(a)

    2,518       138,288  

Sprouts Farmers Market Inc.(a)

    2,104       48,750  
   

 

 

 
      187,038  
Food Products — 1.9%  

Darling Ingredients Inc.(a)

    2,976       213,974  

Flowers Foods Inc.

    3,667       86,651  

Hain Celestial Group Inc. (The)(a)(b)

    1,564       66,908  

Ingredion Inc.

    1,234       109,838  

Lancaster Colony Corp.

    366       61,784  

Pilgrim’s Pride Corp.(a)

    895       26,027  

Post Holdings Inc.(a)

    1,080       118,973  

Sanderson Farms Inc.

    395       74,339  

Tootsie Roll Industries Inc.

    346       10,529  
   

 

 

 
      769,023  
Gas Utilities — 1.1%  

New Jersey Resources Corp.

    1,777       61,858  

ONE Gas Inc.

    986       62,483  

Southwest Gas Holdings Inc.

    1,101       73,635  

Spire Inc.

    952       58,243  

UGI Corp.

    3,852       164,172  
   

 

 

 
      420,391  

 

 

 

16  

2 0 2 1  I S H A R E  S  E M I - A N N U A L  E P O R T  T O  H A  R E H O L D E R S


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P Mid-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Health Care Equipment & Supplies — 3.5%  

Globus Medical Inc., Class A(a)

    1,438     $ 110,180  

Haemonetics Corp.(a)

    939       66,284  

Hill-Rom Holdings Inc.

    1,209       181,350  

ICU Medical Inc.(a)

    366       85,417  

Integra LifeSciences Holdings Corp.(a)

    1,340       91,763  

LivaNova PLC(a)

    990       78,398  

Masimo Corp.(a)

    930       251,760  

Neogen Corp.(a)

    1,980       85,992  

NuVasive Inc.(a)

    952       56,977  

Penumbra Inc.(a)

    632       168,428  

Quidel Corp.(a)

    698       98,523  

STAAR Surgical Co.(a)

    874       112,335  
   

 

 

 
         1,387,407  
Health Care Providers & Services — 3.2%  

Acadia Healthcare Co. Inc.(a)

    1,655       105,556  

Amedisys Inc.(a)

    601       89,609  

Chemed Corp.

    290       134,885  

Encompass Health Corp.

    1,833       137,548  

HealthEquity Inc.(a)

    1,536       99,471  

LHC Group Inc.(a)

    584       91,636  

Molina Healthcare Inc.(a)

    1,073       291,116  

Patterson Companies Inc.

    1,588       47,862  

Progyny Inc.(a)

    1,264       70,784  

R1 RCM Inc.(a)

    2,466       54,277  

Tenet Healthcare Corp.(a)

    1,966       130,621  
   

 

 

 
      1,253,365  
Hotels, Restaurants & Leisure — 3.3%  

Boyd Gaming Corp.(a)

    1,510       95,523  

Choice Hotels International Inc.

    612       77,338  

Churchill Downs Inc.

    639       153,411  

Cracker Barrel Old Country Store Inc.

    437       61,110  

Jack in the Box Inc.

    399       38,835  

Marriott Vacations Worldwide Corp.

    787       123,819  

Papa John’s International Inc.

    606       76,956  

Scientific Games Corp./DE, Class A(a)

    1,587       131,832  

Six Flags Entertainment Corp.(a)

    1,443       61,327  

Texas Roadhouse Inc.

    1,291       117,907  

Travel + Leisure Co.

    1,590       86,703  

Wendy’s Co. (The)

    3,283       71,175  

Wingstop Inc.

    546       89,506  

Wyndham Hotels & Resorts Inc.

    1,717       132,535  
   

 

 

 
      1,317,977  
Household Durables — 1.7%  

Helen of Troy Ltd.(a)

    442       99,309  

KB Home

    1,677       65,269  

Taylor Morrison Home Corp.(a)(b)

    2,308       59,500  

Tempur Sealy International Inc.

    3,608       167,447  

Toll Brothers Inc.

    2,137       118,155  

TopBuild Corp.(a)

    604       123,705  

TRI Pointe Homes Inc.(a)

    2,096       44,058  
   

 

 

 
      677,443  
Household Products — 0.1%  

Energizer Holdings Inc.

    1,145       44,712  
   

 

 

 
Insurance — 3.7%  

Alleghany Corp.(a)

    256       159,849  

American Financial Group Inc./OH

    1,218       153,261  

Brighthouse Financial Inc.(a)

    1,532       69,292  

CNO Financial Group Inc.

    2,354       55,413  
Security   Shares     Value  
Insurance (continued)  

First American Financial Corp.

    2,026     $ 135,843  

Hanover Insurance Group Inc. (The)

    658       85,290  

Kemper Corp.

    1,102       73,603  

Kinsale Capital Group Inc.

    395       63,871  

Mercury General Corp.

    504       28,058  

Old Republic International Corp.

    5,238       121,155  

Primerica Inc.

    727       111,689  

Reinsurance Group of America Inc.

    1,253       139,409  

RenaissanceRe Holdings Ltd.

    868       120,999  

RLI Corp.

    733       73,498  

Selective Insurance Group Inc.

    1,107       83,612  
   

 

 

 
         1,474,842  
Interactive Media & Services — 0.3%  

TripAdvisor Inc.(a)

    1,813       61,370  

Yelp Inc.(a)

    1,274       47,444  
   

 

 

 
      108,814  
IT Services — 1.9%  

Alliance Data Systems Corp.

    918       92,617  

Concentrix Corp.(a)

    787       139,299  

Genpact Ltd.

    3,182       151,177  

LiveRamp Holdings Inc.(a)

    1,251       59,085  

Maximus Inc.

    1,132       94,182  

Sabre Corp.(a)

    6,016       71,229  

WEX Inc.(a)

    826       145,492  
   

 

 

 
      753,081  
Leisure Products — 1.5%  

Brunswick Corp./DE

    1,428       136,046  

Callaway Golf Co.(a)

    2,151       59,432  

Mattel Inc.(a)

    6,429       119,322  

Polaris Inc.

    1,050       125,643  

YETI Holdings Inc.(a)

    1,606       137,618  
   

 

 

 
      578,061  
Life Sciences Tools & Services — 1.4%  

Medpace Holdings Inc.(a)

    526       99,561  

Repligen Corp.(a)

    939       271,362  

Syneos Health Inc.(a)

    1,900       166,212  
   

 

 

 
      537,135  
Machinery — 5.4%  

AGCO Corp.

    1,139       139,562  

Colfax Corp.(a)

    2,386       109,517  

Crane Co.

    918       87,035  

Donaldson Co. Inc.

    2,314       132,847  

Flowserve Corp.

    2,400       83,208  

Graco Inc.

    3,117       218,096  

ITT Inc.

    1,586       136,142  

Kennametal Inc.

    1,540       52,714  

Lincoln Electric Holdings Inc.

    1,094       140,896  

Middleby Corp. (The)(a)

    1,021       174,091  

Nordson Corp.

    993       236,483  

Oshkosh Corp.

    1,264       129,396  

Terex Corp.

    1,286       54,141  

Timken Co. (The)

    1,278       83,607  

Toro Co. (The)

    1,966       191,508  

Trinity Industries Inc.

    1,532       41,624  

Woodward Inc.

    1,168       132,218  
   

 

 

 
      2,143,085  
Marine — 0.1%  

Kirby Corp.(a)

    1,107       53,092  
   

 

 

 

 

 

C H E D U L E  O F  N V E S T M E N  T S

  17


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P Mid-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Media — 1.1%            

Cable One Inc.

    91     $    164,995  

John Wiley & Sons Inc., Class A

    816       42,603  

New York Times Co. (The), Class A

    3,078       151,653  

TEGNA Inc.

    4,073       80,320  
   

 

 

 
      439,571  
Metals & Mining — 2.3%            

Cleveland-Cliffs Inc.(a)

    8,351       165,433  

Commercial Metals Co.

    2,222       67,682  

Compass Minerals International Inc.

    639       41,152  

Reliance Steel & Aluminum Co.

    1,169       166,489  

Royal Gold Inc.

    1,209       115,447  

Steel Dynamics Inc.

    3,561       208,247  

United States Steel Corp.

    4,976       109,323  

Worthington Industries Inc.

    610       32,147  
   

 

 

 
      905,920  
Multi-Utilities — 0.3%            

MDU Resources Group Inc.

    3,730       110,669  
   

 

 

 
Multiline Retail — 0.7%            

Kohl’s Corp.

    2,879       135,572  

Nordstrom Inc.(a)

    2,080       55,016  

Ollie’s Bargain Outlet Holdings Inc.(a)

    1,119       67,453  
   

 

 

 
      258,041  
Oil, Gas & Consumable Fuels — 0.9%            

Equitrans Midstream Corp.

    7,466       75,705  

HollyFrontier Corp.

    2,745       90,942  

Targa Resources Corp.

    4,199       206,633  
   

 

 

 
      373,280  
Paper & Forest Products — 0.3%            

Louisiana-Pacific Corp.

    1,755       107,704  
   

 

 

 
Personal Products — 0.2%            

Coty Inc., Class A(a)

    6,163       48,441  

Nu Skin Enterprises Inc., Class A

    943       38,163  
   

 

 

 
      86,604  
Pharmaceuticals — 0.5%            

Jazz Pharmaceuticals PLC(a)

    1,126       146,616  

Nektar Therapeutics(a)

    3,436       61,711  
   

 

 

 
      208,327  
Professional Services — 1.4%            

ASGN Inc.(a)

    971       109,859  

FTI Consulting Inc.(a)(b)

    632       85,130  

Insperity Inc.

    661       73,199  

KBR Inc.

    2,586       101,889  

ManpowerGroup Inc.

    999       108,172  

Science Applications International Corp.

    1,068       91,378  
   

 

 

 
      569,627  
Real Estate Management & Development — 0.6%  

Jones Lang LaSalle Inc.(a)

    931             230,972  
   

 

 

 
Road & Rail — 1.6%            

Avis Budget Group Inc.(a)

    867       101,014  

Knight-Swift Transportation Holdings Inc.

    3,048       155,905  

Landstar System Inc.

    705       111,263  

Ryder System Inc.

    991       81,966  

Werner Enterprises Inc.

    1,136       50,291  

XPO Logistics Inc.(a)

    1,810       144,040  
   

 

 

 
      644,479  
Security   Shares     Value  
Semiconductors & Semiconductor Equipment — 3.9%  

Amkor Technology Inc.

    1,900     $ 47,405  

Brooks Automation Inc.

    1,369       140,117  

Cirrus Logic Inc.(a)

    1,071       88,197  

CMC Materials Inc.

    538       66,298  

First Solar Inc.(a)

    1,822       173,928  

Lattice Semiconductor Corp.(a)

    2,505       161,948  

MKS Instruments Inc.

    1,021       154,079  

Semtech Corp.(a)

    1,192       92,940  

Silicon Laboratories Inc.(a)

    748       104,840  

SolarEdge Technologies Inc.(a)

    963       255,407  

Synaptics Inc.(a)

    648       116,465  

Universal Display Corp.

    798       136,426  
   

 

 

 
      1,538,050  
Software — 4.4%            

ACI Worldwide Inc.(a)

    2,164       66,500  

Aspen Technology Inc.(a)

    1,251       153,623  

Blackbaud Inc.(a)

    774       54,451  

CDK Global Inc.

    2,244       95,482  

Cerence Inc.(a)

    698       67,085  

CommVault Systems Inc.(a)

    856       64,465  

Envestnet Inc.(a)

    356       28,565  

Fair Isaac Corp.(a)

    523       208,117  

J2 Global Inc.(a)

    885       120,909  

Manhattan Associates Inc.(a)

    1,164       178,127  

NCR Corp.(a)

    2,421       93,838  

Paylocity Holding Corp.(a)

    722       202,449  

Qualys Inc.(a)

    617       68,666  

SailPoint Technologies Holdings Inc.(a)

    1,712       73,411  

Teradata Corp.(a)

    2,010       115,273  

Wolfspeed Inc.

    2,128       171,793  
   

 

 

 
         1,762,754  
Specialty Retail — 3.6%            

American Eagle Outfitters Inc.

    2,812       72,549  

AutoNation Inc.(a)

    805       98,017  

Five Below Inc.(a)

    1,032       182,468  

Foot Locker Inc.

    1,659       75,750  

GameStop Corp., Class A(a)

    1,146       201,089  

Lithia Motors Inc.

    557       176,591  

Murphy USA Inc.

    438       73,260  

RH(a)

    313       208,743  

Urban Outfitters Inc.(a)

    1,214       36,044  

Victoria’s Secret & Co.(a)

    1,379       76,203  

Williams-Sonoma Inc.

    1,380       244,715  
   

 

 

 
      1,445,429  
Technology Hardware, Storage & Peripherals — 0.1%  

Xerox Holdings Corp.

    2,532       51,070  
   

 

 

 
Textiles, Apparel & Luxury Goods — 1.8%            

Capri Holdings Ltd.(a)

    2,800       135,548  

Carter’s Inc.

    811       78,862  

Columbia Sportswear Co.

    644       61,721  

Crocs Inc.(a)

    1,146       164,428  

Deckers Outdoor Corp.(a)

    508       182,981  

Skechers U.S.A. Inc., Class A(a)

    2,485       104,668  
   

 

 

 
      728,208  
Thrifts & Mortgage Finance — 0.9%            

Essent Group Ltd.

    2,061       90,705  

MGIC Investment Corp.

    6,251       93,515  

New York Community Bancorp. Inc.

    8,567       110,257  

 

 

18  

2 0 2 1  I S H A R E  S  E M I - A N N U A L  E P O R T  T O  H A  R E H O L D E R S


Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

iShares® ESG Screened S&P Mid-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Thrifts & Mortgage Finance (continued)            

Washington Federal Inc.

    1,277     $ 43,814  
   

 

 

 
      338,291  
Trading Companies & Distributors — 0.9%            

GATX Corp.

    654       58,572  

MSC Industrial Direct Co. Inc., Class A

    865       69,364  

Univar Solutions Inc.(a)

    3,149       75,009  

Watsco Inc.

    606       160,360  
   

 

 

 
      363,305  
Water Utilities — 0.5%            

Essential Utilities Inc.

    4,120       189,850  
   

 

 

 
Wireless Telecommunication Services — 0.1%            

Telephone and Data Systems Inc.

    1,863       36,328  
   

 

 

 

Total Common Stocks — 99.9%
(Cost: $40,009,233)

      39,633,984  
   

 

 

 

Short-Term Investments

 

Money Market Funds — 0.7%            

BlackRock Cash Funds: Institutional, SL Agency Shares,

   

0.05%(c)(d)(e)

    236,552       236,670  
Security   Shares     Value  
Money Market Funds (continued)            

BlackRock Cash Funds: Treasury, SL Agency Shares,

   

0.00%(c)(d)

    40,000     $ 40,000  
   

 

 

 
      276,670  
   

 

 

 

Total Short-Term Investments — 0.7%
(Cost: $276,670)

      276,670  
   

 

 

 

Total Investments in Securities — 100.6%
(Cost: $40,285,903)

 

    39,910,654  

Other Assets, Less Liabilities — (0.6)%

 

    (221,296
   

 

 

 

Net Assets — 100.0%

 

  $ 39,689,358  
   

 

 

 

 

(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

   $ 265,494      $      $ (28,792 )(a)     $ (32    $      $ 236,670        236,552      $ 191 (b)     $  

BlackRock Cash Funds: Treasury, SL Agency Shares

     20,000        20,000 (a)                            40,000        40,000        1         
           

 

 

    

 

 

    

 

 

       

 

 

    

 

 

 
            $ (32    $      $ 276,670         $ 192      $  
           

 

 

    

 

 

    

 

 

       

 

 

    

 

 

 

 

  (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.

 

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

   $ 39,633,984        $        $             —        $ 39,633,984  

Money Market Funds

     276,670                            276,670  
  

 

 

      

 

 

      

 

 

      

 

 

 
   $ 39,910,654        $        $        $ 39,910,654  
  

 

 

      

 

 

      

 

 

      

 

 

 

See notes to financial statements.

 

 

C H E D U L E  O F  N V E S T M E N  T S

  19


Schedule of Investments  (unaudited)

September 30, 2021

  

iShares® ESG Screened S&P Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

 

Aerospace & Defense — 0.6%  

AAR Corp.(a)

    595     $ 19,296