See
notes
to
financial
statements.
iShares
Focused
Value
Factor
ETF
iShares
US
Small
Cap
Value
Factor
ETF
ASSETS
Investments,
at
value
—
unaffiliated
(a)
(b)
....................................................................
$
20,469,328
$
108,907,850
Investments,
at
value
—
affiliated
(c)
.......................................................................
152,093
5,523,961
Cash
pledged:
Futures
contracts
.................................................................................
—
14,000
Receivables:
Securities
lending
income
—
affiliated
...................................................................
54
1,234
Dividends
—
unaffiliated
............................................................................
39,429
115,489
Dividends
—
affiliated
..............................................................................
108
3,609
Total
assets
......................................................................................
20,661,012
114,566,143
LIABILITIES
Bank
overdraft
.....................................................................................
54,776
666,901
Collateral
on
securities
loaned
..........................................................................
61,660
3,486,595
Payables:
Investments
purchased
.............................................................................
—
4,082
Investment
advisory
fees
............................................................................
4,580
19,283
Variation
margin
on
futures
contracts
....................................................................
—
1,653
Unrealized
depreciation
on:
OTC
swaps
.....................................................................................
—
61,671
Total
liabilities
.....................................................................................
121,016
4,240,185
NET
ASSETS
.....................................................................................
$
20,539,996
$
110,325,958
NET
ASSETS
CONSIST
OF:
Paid-in
capital
.....................................................................................
$
27,784,335
$
130,872,864
Accumulated
loss
..................................................................................
(
7,244,339
)
(
20,546,906
)
NET
ASSETS
.....................................................................................
$
20,539,996
$
110,325,958
NET
ASSET
VALUE
Shares
outstanding
.................................................................................
450,000
4,300,000
Net
asset
value
....................................................................................
$
45.64
$
25.66
Shares
authorized
..................................................................................
Unlimited
Unlimited
Par
value
........................................................................................
None
None
(a)
Securities
loaned,
at
value
..........................................................................
$
61,122
$
3,120,139
(b)
Investments,
at
cost
—
unaffiliated
.....................................................................
$
22,801,830
$
126,239,593
(c)
Investments,
at
cost
—
affiliated
.......................................................................
$
152,074
$
5,522,349