NPORT-EX 2 NPORT_8293378651639478.htm iShares Preferred and Income Securities ETF

Schedule of Investments  (unaudited)

December 31, 2019

   

iShares® Preferred and Income Securities ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Preferred Stocks

    
Automobiles — 0.8%            

Ford Motor Co.

    

6.00%

     2,713,123     $ 70,785,379  

6.20%

     2,545,255       67,881,951  
   

 

 

  
      138,667,330  
Banks — 26.9%            

Associated Banc-Corp, Series E, 5.88%(a)

     323,716       8,549,340  

Banc of California Inc., Series E, 7.00%

     405,505       10,737,772  

Banco Santander SA, Series 6, 4.00% (3 mo. LIBOR US + 0.520%)(b)

     718,770       17,408,609  

BancorpSouth Bank, Series A, 5.50%(a)

     469,010       11,945,685  

Bank of America Corp.

    

Series 4, 4.00% (3 mo. LIBOR US + 0.750%)(a)(b)

     435,497       10,160,145  

Series 5, 4.00% (3 mo. LIBOR US + 0.500%)(b)

     872,968       21,012,340  

Series CC, 6.20%

     2,276,895       59,609,111  

Series E, 4.00% (3 mo. LIBOR US + 0.350%)(a)(b)

     656,679       16,003,267  

Series EE, 6.00%

     1,862,899       49,180,534  

Series GG, 6.00%

     2,794,355       76,816,819  

Series H, 3.00% (3 mo. LIBOR US + 0.650%)(a)(b)

     619,141       12,995,770  

Series HH, 5.88%

     1,767,727       47,870,047  

Series K, 6.45%(a)(c)

     2,354,587       63,479,665  

Series KK, 5.38%

     2,892,735       76,946,751  

Series L, 7.25%(a)(d)

     159,374       230,932,926  

Series LL, 5.00%(a)

     2,711,566       70,988,798  

Series Y, 6.50%

     2,276,895       56,876,837  

BOK Financial Corp., 5.38%(a)

     289,020       7,572,324  

CIT Group Inc., Series B, 5.63%(a)

     625,319       15,945,634  

Citigroup Inc.

    

Series J, 7.13%(c)

     2,975,128       84,315,127  

Series K, 6.88%(c)

     4,681,950       131,890,531  

Series S, 6.30%(a)

     3,241,320       84,954,997  

Citizens Financial Group Inc.

    

Series D, 6.35%(c)

     939,490       26,578,172  

Series E, 5.00%

     1,406,988       35,076,211  

Commerce Bancshares Inc./MO, Series B, 6.00%

     469,612       12,205,216  

Cullen/Frost Bankers Inc., 5.38%(a)

     486,592       12,554,074  

Deutsche Bank Contingent Capital Trust II, 6.55%(a)

     2,714,917       71,130,825  

Fifth Third Bancorp, Series K, 4.95%

     782,929       20,238,715  

Fifth Third Bancorp.

    

Series A, 6.00%(a)

     626,327       17,155,097  

Series I, 6.63%(c)

     1,409,270       40,460,142  

First Horizon National Corp., Series A, 6.20%

     324,361       8,358,783  

First Republic Bank/CA

    

Series F, 5.70%

     324,361       8,316,616  

Series G, 5.50%(a)

     469,560       12,147,517  

Series H, 5.13%(a)

     633,217       16,697,932  

Series I, 5.50%(a)

     939,491       25,103,199  

Series J, 4.70%

     1,095,618       27,609,574  

FNB Corp/PA, 7.25%(c)

     347,040       10,397,318  

GMAC Capital Trust I, Series 2, 7.69% (3 mo. LIBOR US + 5.785%)(b)

     9,050,896       235,775,841  

Hancock Whitney Corp., 5.95%

     289,020       7,413,363  

HSBC Holdings PLC, Series A, 6.20%(a)

     4,899,440       131,696,947  

Huntington Bancshares Inc./OH

    

Series C, 5.88%

     324,362       8,472,335  

Series D, 6.25%

     1,879,035       48,854,910  

IBERIABANK Corp., Series D, 6.10%(c)

     324,362       8,731,825  

ING Groep NV, 6.13%(a)

     2,375,579       61,860,077  
Security   Shares     Value  
Banks (continued)            

JPMorgan Chase & Co.

    

Series AA, 6.10%

     4,462,627     $   114,868,019  

Series BB, 6.15%

     3,601,455       92,701,452  

Series DD, 5.75%

     5,312,088       145,179,365  

Series EE, 6.00%(a)

     5,793,640       163,033,030  

Series GG, 4.75%

     2,819,289       72,596,692  

Series Y, 6.13%(a)

     4,478,301       114,554,940  

KeyCorp

    

Series E, 6.13%(c)

     1,565,873       44,596,063  

Series F, 5.65%

     1,331,027       35,671,524  

Series G, 5.63%

     1,409,270       38,177,124  

People’s United Financial Inc., Series A,
5.63%(c)

     782,929       22,047,281  

PNC Financial Services Group Inc. (The)

    

Series P, 6.13%(c)

     4,697,548       128,665,840  

Series Q, 5.38%(a)

     1,503,289       38,499,231  

Popular Capital Trust I, 6.70%

     348,884       9,398,935  

Popular Capital Trust II, 6.13%(a)

     250,466       6,750,059  

Regions Financial Corp.

    

Series A, 6.38%(a)

     1,565,872       40,133,299  

Series B, 6.38%(a)(c)

     1,565,872       44,188,908  

Series C, 5.70%(c)

     1,565,872       43,672,170  

Sterling Bancorp/DE, Series A, 6.50%

     422,585       11,261,890  

SVB Financial Group, Series A, 5.25%

     1,095,618       28,245,032  

Synovus Financial Corp.

    

Series D, 6.30%(a)(c)

     626,327       16,603,929  

Series E, 5.88%(c)

     1,096,092       29,265,656  

TCF Financial Corp., Series C*, 5.70%

     548,084       14,458,456  

Texas Capital Bancshares Inc.

    

6.50%

     213,859       5,532,532  

Series A, 6.50%(a)

     486,592       12,627,062  

Truist Financial Corp.

    

4.00%(a)(b)(e)

     546,132       13,407,541  

5.20%(e)

     1,565,868       39,804,365  

5.20%(e)

     1,409,270       35,851,829  

5.63%(e)

     1,456,237       39,143,651  

U.S. Bancorp.

    

Series B, 3.50% (3 mo. LIBOR US + 0.600%)(b)

     3,131,690       67,300,018  

Series F, 6.50%(a)(c)

     3,444,853       95,146,840  

Series H, 5.15%(a)

     1,565,873       40,603,087  

Series K, 5.50%

     1,800,677       49,374,563  

Valley National Bancorp.

    

Series A, 6.25%(a)(c)

     372,996       10,499,837  

Series B, 5.50%(a)(c)

     324,362       8,624,786  

Webster Financial Corp., Series F, 5.25%

     469,547       12,142,485  

Wells Fargo & Co.

    

5.20%

     1,545,171       39,463,667  

5.63%

     1,421,559       37,941,410  

Series L, 7.50%(a)(d)

     203,574       295,182,300  

Series O, 5.13%

     1,339,149       34,108,125  

Series P, 5.25%

     1,287,646       32,796,344  

Series Q, 5.85%(c)

     3,553,832       97,339,458  

Series R, 6.63%(a)(c)

     1,730,517       49,890,805  

Series T, 6.00%(a)

     1,648,107       41,977,285  

Series V, 6.00%

     2,042,542       53,085,667  

Series W, 5.70%

     2,060,157       53,873,106  

Series X, 5.50%

     2,369,196       61,836,016  

Western Alliance Bancorp, 6.25%

     337,205       8,760,586  

Wintrust Financial Corp., Series D, 6.50%(c)

     405,511       11,719,268  
 

 

 

1

Schedule of Investments  (unaudited) (continued)

December 31, 2019

   

iShares® Preferred and Income Securities ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Banks (continued)            

Zions Bancorp N.A.

    

Series G, 6.30%(c)

     448,087     $ 12,564,359  

Series H, 5.75%(a)

     410,263       10,576,580  
   

 

 

  
      4,538,770,185  
Capital Markets — 9.6%            

Affiliated Managers Group Inc., 5.88%

     566,589       15,314,901  

Apollo Global Management Inc.

    

Series A, 6.38%

     861,172       22,907,175  

Series B, 6.38%

     939,490       25,431,994  

Ares Management Corp., Series A, 7.00%

     970,878       26,213,706  

B. Riley Financial Inc.

    

6.50%

     373,008       9,399,802  

6.75%

     323,507       8,297,955  

6.88%

     198,504       5,087,658  

7.25%

     366,550       9,449,659  

7.38%(a)

     220,128       5,692,510  

7.50%

     359,066       9,166,955  

Bank of New York Mellon Corp. (The), 5.20%(a)

     1,824,265       47,540,346  

Brightsphere Investment Group Inc.,
5.12%(a)

     240,873       6,089,269  

Capitala Finance Corp., 5.75%(d)

     100,420       2,494,433  

Charles Schwab Corp. (The)

    

Series C, 6.00%(a)

     1,879,036       48,854,936  

Series D, 5.95%(a)

     2,348,761       62,242,166  

Cowen Inc.

    

7.35%

     260,200       6,715,762  

7.75%(a)

     192,703       5,276,208  

Goldman Sachs Group Inc. (The)

    

Series A, 3.75% (3 mo. LIBOR US + 0.750%)(b)

     2,348,686       51,318,789  

Series C, 4.00% (3 mo. LIBOR US + 0.750%)(a)(b)

     626,336       14,355,621  

Series D, 4.00% (3 mo. LIBOR US + 0.670%)(a)(b)

     4,224,682       97,336,673  

Series J, 5.50%(c)

     3,131,690       83,991,926  

Series K, 6.38%(c)

     2,192,184       62,411,478  

Series N, 6.30%

     2,113,956       56,379,207  

KKR & Co. Inc.

    

Series A, 6.75%(a)

     1,080,509       28,730,734  

Series B, 6.50%

     485,294       13,049,556  

Ladenburg Thalmann Financial Services Inc.,

    

Series A, 8.00%(a)

     1,362,360       34,167,989  

Legg Mason Inc.

    

5.45%

     1,696,811       43,760,756  

6.38%

     848,443       22,534,646  

Morgan Stanley

    

Series A, 4.00% (3 mo. LIBOR US + 0.700%)(b)

     3,444,867       77,612,854  

Series E, 7.13%(c)

     2,701,111       77,278,786  

Series F, 6.88%(c)

     2,661,965       75,333,609  

Series G, 6.63%

     1,565,873       39,146,825  

Series I, 6.38%(c)

     3,131,690       88,219,707  

Series K, 5.85%(c)

     3,131,690       88,814,728  

Series L, 4.88%

     1,565,212       39,443,342  

MVC Capital Inc., 6.25%(a)

     373,014       9,392,493  

Northern Trust Corp.

    

Series C, 5.85%

     1,252,668       31,329,227  

Series E, 4.70%

     1,250,298       32,670,287  

Oaktree Capital Group LLC

    

Series A, 6.63%

     563,682       15,179,956  

Series B, 6.55%(a)

     735,958       19,900,304  

Prospect Capital Corp., 6.25%

     419,426       10,611,478  

State Street Corp.

    

Series C, 5.25%(a)

     1,565,873       40,164,642  

Series D, 5.90%(a)(c)

     2,348,761       64,496,977  
Security   Shares     Value  
Capital Markets (continued)            

Series G, 5.35%(a)(c)

     1,565,873     $ 43,640,881  

Stifel Financial Corp.

    

5.20%

     433,575       11,108,192  

Series A, 6.25%(a)

     469,586       12,603,688  

Series B, 6.25%

     500,910       13,514,552  

Virtus Investment Partners Inc., Series D, 7.25%(d)

     93,305       9,469,524  
   

 

 

  
      1,624,144,862  
Chemicals — 0.5%            

EI du Pont de Nemours & Co., Series B, 4.50%

     130,907       14,499,259  

International Flavors & Fragrances Inc.,
6.00%(a)(d)

     1,399,857       67,207,135  
   

 

 

  
      81,706,394  
Commercial Services & Supplies — 0.2%            

Pitney Bowes Inc., 6.70%

     1,451,838       26,510,562  
   

 

 

  
Consumer Finance — 2.5%            

Capital One Financial Corp.

    

Series B, 6.00%(a)

     2,740,283       69,466,174  

Series F, 6.20%

     1,565,873       40,524,793  

Series G, 5.20%

     1,879,021       48,328,420  

Series H, 6.00%(a)

     1,565,873       42,043,690  

Series I, 5.00%

     4,697,547       117,861,454  

Navient Corp., 6.00%

     1,018,118       24,445,013  

SLM Corp., Series B, 3.59% (3 mo. LIBOR US + 1.700%)(b)

     313,163       16,832,512  

Synchrony Financial, Series A, 5.63%

     2,349,374       60,026,506  
   

 

 

  
      419,528,562  
Diversified Financial Services — 2.1%            

Allied Capital Corp., 6.88%

     780,517       20,582,233  

AXA Equitable Holdings Inc., Series A, 5.25%

     2,504,324       65,362,856  

Citigroup Capital XIII, 8.31% (3 mo. LIBOR US + 6.370%)(b)

     7,622,151       211,895,798  

Compass Diversified Holdings

    

Series A, 7.25%(a)

     323,662       8,221,015  

Series B, 7.88%(c)

     323,662       8,350,480  

Series C, 7.88%

     362,659       9,298,577  

Voya Financial Inc., Series B, 5.35%(c)

     939,490       25,356,835  
   

 

 

  
      349,067,794  
Diversified Telecommunication Services — 3.9%  

AT&T Inc.

    

5.35%

     4,488,091       120,056,434  

5.63%

     2,799,789       77,162,185  

Series A, 5.00%

     3,756,524       98,796,581  

GCI Liberty Inc., Series A, 7.00%

     564,585       14,950,211  

Qwest Corp.

    

6.13%(a)

     2,630,058       65,225,438  

6.50%

     3,317,318       84,525,263  

6.63%

     1,391,417       35,314,163  

6.75%

     2,239,796       57,405,972  

6.88%(a)

     1,696,812       42,997,216  

7.00%

     797,531       20,791,633  

Telephone & Data Systems Inc.

    

5.88%(a)

     376,023       9,505,861  

6.63%

     223,998       5,857,548  

6.88%

     433,879       11,072,592  

7.00%

     568,533       14,412,312  
   

 

 

  
      658,073,409  
Electric Utilities — 10.4%            

Alabama Power Co., Series A, 5.00%(a)

     782,929       21,201,717  
 

 

 

2

Schedule of Investments  (unaudited) (continued)

December 31, 2019

   

iShares® Preferred and Income Securities ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Electric Utilities (continued)            

Algonquin Power & Utilities Corp.

    

6.88%(c)

     543,990     $ 15,335,078  

Series 19-A, 6.20%(c)

     664,505       18,739,041  

American Electric Power Co. Inc.,
6.13%(a)(d)

     1,365,966       73,939,740  

CMS Energy Corp.

    

5.63%

     675,645       17,701,899  

5.88%

     2,137,979       58,388,206  

5.88%

     950,261       25,438,487  

Dominion Energy Inc., Series A, 5.25%(a)

     2,714,917       71,076,527  

DTE Energy Co.

    

5.25%

     690,645       17,652,886  

Series B, 5.38%(a)

     1,018,118       26,318,350  

Series E, 5.25%

     1,357,462       35,891,295  

Series F, 6.00%

     950,261       25,571,523  

Duke Energy Corp.

    

5.13%

     1,696,812       43,760,781  

5.63%

     1,696,812       45,898,765  

Series A, 5.75%

     3,131,689       86,779,102  

Entergy Arkansas LLC

    

4.75%

     424,184       10,935,464  

4.88%(a)

     1,391,428       36,218,871  

4.90%

     675,645       17,580,283  

Entergy Louisiana LLC

    

4.70%(a)

     350,852       8,999,354  

4.88%

     916,310       23,741,592  

5.25%

     687,040       17,952,355  

Entergy Mississippi LLC, 4.90%

     882,334       23,381,851  

Entergy Texas Inc., 5.63%(a)

     459,079       12,564,992  

Georgia Power Co., Series 2017, 5.00%

     916,301       23,558,099  

Interstate Power & Light Co., Series D, 5.10%

     626,327       16,065,288  

National Rural Utilities Cooperative Finance Corp., Series US, 5.50%

     848,443       23,374,605  

NextEra Energy Capital Holdings Inc.

    

5.00%

     1,527,137       38,972,536  

Series I, 5.13%

     1,696,812       43,370,515  

Series K, 5.25%

     1,934,412       50,391,433  

Series N, 5.65%

     2,333,184       63,999,237  

NextEra Energy Inc., 4.87%(d)

     2,545,243       130,520,061  

Pacific Gas & Electric Co., Series A, 6.00%

     341,526       8,872,845  

PPL Capital Funding Inc., Series B, 5.90%(a)

     1,527,137       39,430,677  

SCE Trust II, 5.10%(a)

     1,357,462       33,922,975  

SCE Trust III, Series H, 5.75%(c)

     933,240       22,761,724  

SCE Trust IV, Series J, 5.38%(a)(c)

     1,102,915       27,032,447  

SCE Trust V, Series K, 5.45%(a)(c)

     1,018,118       25,116,971  

SCE Trust VI, 5.00%

     1,612,014       38,656,096  

Sempra Energy, 5.75%

     2,570,710       68,303,765  

Southern Co. (The)

    

5.25%

     2,714,917       71,510,914  

5.25%

     1,527,137       40,178,974  

6.25%(a)

     3,393,686       89,491,500  

Series 2019, 6.75%(d)

     2,926,994       157,764,977  
   

 

 

  
      1,748,363,798  
Energy Equipment & Services — 0.1%            

Nabors Industries Ltd., 6.00%(a)(d)

     465,490       10,515,419  
   

 

 

  
Equity Real Estate Investment Trusts (REITs) — 10.5%  

American Finance Trust, 7.50%(e)

     472,397       11,928,024  

American Homes 4 Rent

    

Series D, 6.50%(e)

     841,586       22,041,137  

Series E, 6.35%(e)

     720,284       18,662,558  
Security   Shares     Value  
Equity Real Estate Investment Trusts (REITs) (continued)  

Series F, 5.88%(e)

     484,863     $ 12,693,713  

Series G, 5.88%(a)(e)

     373,008       9,754,159  

Series H, 6.25%(e)

     372,366       9,912,383  

Ashford Hospitality Trust Inc.

    

Series F, 7.38%(a)(e)

     389,252       8,547,974  

Series G, 7.38%(a)(e)

     501,024       10,696,862  

Series I, 7.50%

     437,036       9,479,311  

Bluerock Residential Growth REIT Inc.,
Series A, 8.25%(a)(e)

     463,983       12,054,278  

Boston Properties Inc.,
Series B, 5.25%(a)(e)

     626,327       15,971,339  

Braemar Hotels & Resorts Inc.,
Series b, 5.50%(a)(d)

     402,655       7,650,445  

Brookfield Property REIT Inc.,
Series A, 6.38%(e)

     782,929       19,659,347  

CBL & Associates Properties Inc.

    

Series D, 7.38%(a)(e)

     1,421,057       7,034,232  

Series E, 6.63%(a)(e)

     558,395       2,618,873  

Cedar Realty Trust Inc., Series C, 6.50%(a)(e)

     404,737       9,385,851  

City Office REIT Inc., Series A, 6.63%

     363,301       9,373,166  

Colony Capital Inc.

    

Series B, 8.25%(e)

     496,032       12,549,610  

Series E, 8.75%

     782,929       19,808,104  

Series H, 7.13%(e)

     900,434       21,529,377  

Series I, 7.15%(a)(e)

     1,080,508       26,105,073  

Series J, 7.13%(e)

     986,476       23,596,506  

CorEnergy Infrastructure Trust Inc.,
Series A, 7.38%(e)

     407,087       10,323,726  

Crown Castle International Corp.,

Series A, 6.88%(d)

     156,602       200,723,048  

Digital Realty Trust Inc.

    

Series C, 6.63%(a)(e)

     630,254       16,600,890  

Series G, 5.88%(e)

     782,929       19,886,397  

Series I, 6.35%(a)(e)

     782,914       20,207,010  

Series J, 5.25%(a)(e)

     626,327       16,140,447  

Series K, 5.85%(a)(e)

     657,714       18,087,135  

Series L, 5.20%

     1,080,494       27,887,550  

EPR Properties

    

Series C, 5.75%(d)(e)

     421,811       13,244,865  

Series E, 9.00%(d)(e)

     279,602       10,678,000  

Series G, 5.75%(a)(e)

     484,575       12,511,727  

Equity Commonwealth, Series D, 6.50%(a)(d)(e)

     398,621       11,257,057  

Farmland Partners Inc., Series B, 6.00%(e)(f)

     484,603       12,148,997  

Federal Realty Investment Trust, Series C, 5.00%(a)

     486,760       12,529,202  

Global Net Lease Inc., Series A, 7.25%

     532,454       14,072,759  

Hersha Hospitality Trust

    

Series D, 6.50%(a)(e)

     601,411       14,975,134  

Series E, 6.50%(e)

     323,652       8,091,300  

iStar Inc.

    

Series D, 8.00%(e)

     324,362       8,323,129  

Series I, 7.50%(e)

     405,511       10,340,531  

Kimco Realty Corp.

    

Series L, 5.13%(a)(e)

     704,694       18,138,824  

Series M, 5.25%(a)(e)

     837,662       21,695,446  

Lexington Realty Trust, Series C, 6.50%(a)(d)(e)

     156,942       8,947,263  

MFA Financial Inc., 8.00%(a)

     324,358       8,507,910  

Monmouth Real Estate Investment Corp.,
Series C, 6.13%(e)

     1,062,955       26,488,839  

National Retail Properties Inc.,
Series F, 5.20%(a)(e)

     1,080,504       27,477,217  

National Storage Affiliates Trust, Series A, 6.00%(e)

     682,067       18,156,624  

Office Properties Income Trust, 5.88%(a)

     1,052,009       27,320,674  

Pebblebrook Hotel Trust

    

Series C, 6.50%(e)

     405,337       10,295,560  

Series D, 6.38%(a)(e)

     405,511       10,478,404  
 

 

 

3

Schedule of Investments  (unaudited) (continued)

December 31, 2019

   

iShares® Preferred and Income Securities ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Equity Real Estate Investment Trusts (REITs) (continued)  

Series E, 6.38%(a)(e)

     355,575     $ 9,031,605  

Series F, 6.30%(a)(e)

     484,575       12,453,578  

Pennsylvania REIT

    

Series C, 7.20%(a)(e)

     559,877       10,430,509  

Series D, 6.88%(a)(e)

     404,571       7,808,220  

PS Business Parks Inc.

    

Series W, 5.20%(a)(e)

     594,242       15,319,559  

Series X, 5.25%

     728,402       19,011,292  

Series Y, 5.20%(e)

     626,327       16,084,077  

Series Z, 4.88%

     1,017,989       25,235,947  

Public Storage

    

Series B, 5.40%(a)(e)

     939,490       24,267,027  

Series C, 5.13%(e)

     626,327       16,096,604  

Series D, 4.95%(e)

     1,017,849       25,924,614  

Series E, 4.90%(e)

     1,096,092       27,928,424  

Series F, 5.15%(a)

     876,845       22,815,507  

Series G, 5.05%(e)

     939,490       24,304,606  

Series H, 5.60%(a)

     892,560       24,714,986  

Series I, 4.88%(a)

     990,464       25,504,448  

Series J, 4.70%(a)(e)

     810,435       20,820,075  

Series K, 4.75%

     626,100       16,015,638  

Series V, 5.38%(a)(e)

     1,550,158       39,110,486  

Series W, 5.20%(e)

     1,565,872       39,585,244  

Series X, 5.20%(e)

     704,686       17,835,603  

QTS Realty Trust Inc.

    

Series A, 7.13%(a)(e)

     346,392       9,421,862  

Series B, 6.50%(a)(d)

     247,584       31,980,425  

RLJ Lodging Trust, Series A, 1.95%(d)

     1,008,395       28,951,021  

Saul Centers Inc., Series E, 6.00%

     356,724       9,381,841  

Senior Housing Properties Trust

    

5.63%(a)

     1,187,793       29,397,877  

6.25%

     848,443       21,949,220  

SITE Centers Corp.

    

Series A, 6.38%(e)

     54,029       1,415,560  

Series K, 6.25%(a)(e)

     486,577       12,339,593  

SL Green Realty Corp., Series I, 6.50%(e)

     720,284       18,302,416  

Spirit Realty Capital Inc., Series A, 6.00%

     540,210       14,072,471  

Summit Hotel Properties Inc., Series E, 6.25%

     500,137       12,778,500  

Sunstone Hotel Investors Inc., Series E, 6.95%(e)

     373,008       9,701,938  

Taubman Centers Inc., Series K, 6.25%(e)

     544,125       14,098,279  

UMH Properties Inc., Series C, 6.75%(e)

     763,340       19,953,708  

Urstadt Biddle Properties Inc.

    

Series H, 6.25%(e)

     335,703       8,939,771  

Series K, 5.88%(a)(e)

     321,632       8,195,183  

VEREIT Inc., Series F, 6.70%(e)

     2,428,527       61,927,439  

Vornado Realty Trust

    

Series K, 5.70%(e)

     939,490       23,684,543  

Series L, 5.40%(e)

     939,490       23,684,543  

Series M, 5.25%(e)

     1,000,596       25,555,222  

Washington Prime Group Inc., Series H, 7.50%(a)(e)

     310,427       6,695,910  
   

 

 

  
      1,769,313,358  
Food Products — 1.2%            

CHS Inc.

    

8.00%

     960,821       26,902,988  

Series 1, 7.88%(a)

     1,680,127       45,766,659  

Series 2, 7.10%(c)

     1,315,354       35,830,243  

Series 3, 6.75%(a)(c)

     1,542,359       41,180,985  

Series 4, 7.50%

     1,620,696       44,358,450  
   

 

 

  
      194,039,325  
Security   Shares     Value  
Gas Utilities — 0.3%            

Entergy New Orleans LLC, 5.50%

     385,926     $ 10,091,965  

South Jersey Industries Inc.

    

5.63%

     385,380       10,281,938  

7.25%(a)(d)

     266,957       13,857,738  

Spire Inc., Series A, 5.90%

     782,929       21,624,499  
   

 

 

  
      55,856,140  
Health Care Equipment & Supplies — 2.4%            

Becton Dickinson and Co., Series A, 6.13%(d)

     3,875,432       253,685,779  

Danaher Corp., Series A, 4.75%(a)(d)

     129,217       152,352,011  
   

 

 

  
      406,037,790  
Health Care Technology — 0.1%            

Change Healthcare Inc., 6.00%(a)(d)

     266,957       16,014,750  
   

 

 

  
Household Products — 0.1%            

Energizer Holdings Inc., Series A, 7.50%(d)

     168,800       17,651,416  
   

 

 

  
Industrial Conglomerates — 0.1%            

Hillman Group Capital Trust, 11.60%

     203,168       7,003,201  

Steel Partners Holdings LP, Series A,
6.00%(a)

     620,649       14,479,741  
   

 

 

  
      21,482,942  
Insurance — 9.9%            

AEGON Funding Co. LLC, 5.10%

     3,139,139       81,460,657  

Aegon NV, Series 1, 4.00% (3 mo. LIBOR US + 0.875%)(a)(b)

     848,443       21,024,417  

Allstate Corp. (The)

    

5.10%(c)

     1,696,812       45,220,040  

Series A, 5.63%(a)

     900,434       22,510,850  

Series G, 5.63%

     1,800,649       49,229,744  

Series H, 5.10%

     3,601,455       94,142,034  

Series I, 4.75%

     938,094       23,752,540  

American Financial Group Inc./OH

    

5.13%

     610,486       16,861,623  

5.88%

     435,021       11,928,276  

6.00%

     509,007       13,371,614  

American International Group Inc., Series A, 5.85%

     1,565,872       42,810,940  

Arch Capital Group Ltd.

    

Series E, 5.25%

     1,409,270       35,908,200  

Series F, 5.45%

     1,033,448       26,652,624  

Argo Group U.S. Inc., 6.50%(a)

     276,957       7,131,643  

Aspen Insurance Holdings Ltd.

    

5.63%(a)

     782,929       20,630,179  

5.63%

     782,929       20,669,326  

5.95%(a)(c)

     861,172       23,992,252  

Assurant Inc., Series D, 6.50%(d)

     225,090       28,951,076  

Assured Guaranty Municipal Holdings Inc.

    

5.60%

     192,703       5,004,497  

6.25%

     443,247       11,759,343  

6.88%

     192,703       5,208,762  

Athene Holding Ltd.

    

Series A, 6.35%(c)

     2,701,110       76,306,357  

Series B, 5.63%

     1,080,508       28,309,310  

Axis Capital Holdings Ltd.

    

Series D, 5.50%

     704,686       17,624,197  

Series E, 5.50%

     1,722,427       44,421,392  

Brighthouse Financial Inc.

    

6.25%

     1,272,590       34,525,367  

Series A, 6.60%

     1,331,007       36,935,444  

Enstar Group Ltd.

    

Series D, 7.00%(c)

     1,252,668       34,974,491  

Series E, 7.00%

     356,979       9,734,817  
 

 

 

4

Schedule of Investments  (unaudited) (continued)

December 31, 2019

   

iShares® Preferred and Income Securities ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Insurance (continued)            

Global Indemnity Ltd., 7.88%

     421,702     $ 11,335,350  

Globe Life Inc., 6.13%

     565,456       14,933,693  

Hanover Insurance Group Inc. (The), 6.35%

     337,436       8,763,213  

Hartford Financial Services Group Inc. (The)

    

7.88%(c)

     2,036,235       57,808,712  

Series G, 6.00%

     1,080,508       29,854,436  

Maiden Holdings Ltd.

    

6.63%

     211,851       4,162,872  

Series A, 8.25%

     486,406       3,336,745  

Series C, 7.13%

     534,981       3,546,924  

Series D, 6.70%

     486,280       3,360,195  

Maiden Holdings North America Ltd., 7.75%

     293,834       6,602,450  

MetLife Inc.

    

Series A, 4.00% (3 mo. LIBOR US + 1.000%)(b)

     1,879,035       46,468,536  

Series E, 5.63%

     2,520,961       68,897,864  

National General Holdings Corp.

    

7.63%

     324,362       8,397,732  

Series B, 7.50%(a)

     536,672       13,497,301  

Series C, 7.50%

     626,327       15,764,651  

PartnerRe Ltd.

    

Series G, 6.50%

     501,627       13,232,920  

Series H, 7.25%

     920,321       24,793,448  

Series I, 5.88%

     573,136       14,769,715  

Prudential Financial Inc.

    

5.63%

     1,917,398       52,287,443  

5.70%

     2,409,471       62,381,204  

5.75%

     1,951,358       50,637,740  

Prudential PLC

    

6.50%

     1,018,117       27,865,862  

6.75%(a)

     848,443       23,756,404  

Reinsurance Group of America Inc.

    

5.75%(c)

     1,357,462       38,253,279  

6.20%(a)(c)

     1,357,462       37,642,421  

RenaissanceRe Holdings Ltd.

    

Series C, 6.08%

     404,431       10,507,117  

Series E, 5.38%(a)

     858,868       21,729,360  

Series F, 5.75%

     791,761       21,401,300  

Unum Group, 6.25%

     1,018,117       27,489,159  

WR Berkley Corp.

    

5.10%

     553,300       13,843,566  

5.63%(a)

     664,913       16,902,088  

5.70%

     356,503       9,433,069  

5.75%

     548,890       14,380,918  

5.90%

     211,939       5,597,309  
   

 

 

  
      1,674,687,008  
Internet & Direct Marketing Retail — 0.8%            

eBay Inc., 6.00%

     2,545,255       68,034,666  

QVC Inc.

    

6.25%

     1,696,579       44,280,712  

6.38%

     770,032       20,321,145  
   

 

 

  
      132,636,523  
Leisure Products — 0.2%            

Brunswick Corp/DE

    

6.38%

     443,253       12,109,672  

6.50%

     356,482       9,742,653  

6.63%

     240,875       6,571,070  
   

 

 

  
      28,423,395  
Life Sciences Tools & Services — 0.6%            

Avantor Inc., Series A, 6.25%(a)(d)

     1,620,696       102,103,848  
   

 

 

  
Security   Shares     Value  
Machinery — 1.7%            

Colfax Corp., 5.75%(d)

     390,256     $ 61,566,787  

Fortive Corp., Series A, 5.00%(d)

     109,631       106,644,652  

Stanley Black & Decker Inc.

    

5.25%(d)

     572,693       62,400,629  

5.38%(a)(d)

     587,270       64,088,775  
   

 

 

  
      294,700,843  
Marine — 0.4%            

Seaspan Corp.

    

Series D, 7.95%(a)

     399,022       10,230,924  

Series E, 8.25%

     439,369       11,375,264  

Series G, 8.20%(a)

     610,729       15,927,812  

Series H, 7.88%(a)

     706,540       18,426,563  

Series I, 8.00%(c)

     486,765       12,845,728  
   

 

 

  
      68,806,291  
Mortgage Real Estate Investment — 3.8%            

AG Mortgage Investment Trust Inc.

    

Series B, 8.00%(a)(e)

     373,008       9,474,403  

Series C, 8.00%(c)(e)

     373,008       9,843,681  

AGNC Investment Corp.

    

Series C, 7.00%(c)(e)

     1,029,319       26,710,828  

Series D, 6.88%(c)(e)

     735,957       18,972,971  

Series E, 6.50% (3 mo. LIBOR US
+ 4.993%)(c)(e)

     1,260,569       32,333,595  

Annaly Capital Management Inc.

    

Series D, 7.50%(a)(e)

     1,440,643       37,038,932  

Series F, 6.95%(c)(e)

     2,254,887       58,288,829  

Series G, 6.50%(c)(e)

     1,530,688       38,649,872  

Series I, 6.75%(c)

     1,385,882       36,032,932  

ARMOUR Residential REIT Inc., Series B, 7.88%(a)(e)

    588,743       14,783,337  

Capstead Mortgage Corp., Series E,
7.50%(a)(e)

     808,659       20,418,640  

Chimera Investment Corp.

    

Series A, 8.00%(a)(e)

     470,605       12,409,854  

Series B, 8.00%(c)(e)

     1,017,834       27,247,416  

Series C, 7.75%(c)(e)

     814,213       21,128,827  

Series D, 8.00%(c)(e)

     626,327       16,484,927  

Ellington Financial Inc., 6.75% (3 mo. LIBOR US + 5.196%)(c)

     372,281       9,437,323  

Great Ajax Corp., 7.25%(d)

     208,109       5,552,348  

Invesco Mortgage Capital Inc.

    

Series A, 7.75%(a)(e)

     454,078       11,769,702  

Series B, 7.75%(a)(c)(e)

     484,753       13,035,008  

Series C, 7.50%(c)(e)

     900,434       23,933,536  

MFA Financial Inc., Series B, 7.50%(a)(e)

     626,327       16,159,237  

New Residential Investment Corp.

    

Series A, 7.50%(c)(e)

     485,663       12,836,073  

Series B, 7.13%(c)(e)

     884,648       22,930,076  

New York Mortgage Trust Inc.

    

Series D, 8.00%(c)(e)

     467,282       11,747,469  

Series E, 7.88% (3 mo. LIBOR US
+ 6.429%)(c)(e)

     539,482       13,616,526  

PennyMac Mortgage Investment Trust

    

Series A, 8.13%(a)(c)(e)(g)

     374,184       9,927,102  

Series B, 8.00%(c)(e)(g)

     610,654       16,011,348  

Ready Capital Corp.

    

6.20%

     292,500       8,020,350  

7.00%

     221,598       5,938,826  

Two Harbors Investment Corp.

    

Series A, 8.13%(a)(c)(e)

     449,404       12,470,961  

Series B, 7.63%(a)(c)

     900,434       24,707,909  

Series C, 7.25%(c)(e)

     923,831       24,139,704  
 

 

 

5

Schedule of Investments  (unaudited) (continued)

December 31, 2019

   

iShares® Preferred and Income Securities ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Mortgage Real Estate Investment (continued)        

Series E, 7.50%(e)

     626,332     $ 15,852,463  
   

 

 

  
      637,905,005  
Multiline Retail — 0.1%            

Dillard’s Capital Trust I, 7.50%

     385,612       10,180,157  
   

 

 

  
Multi-Utilities — 3.5%            

CenterPoint Energy Inc., Series B, 7.00%(d)

     1,530,688       74,605,733  

Dominion Energy Inc., Series A, 7.25%(a)(d)

     1,365,972       146,145,344  

DTE Energy Co., 6.25%(d)

     1,951,352       100,026,304  

Just Energy Group Inc., Series A, 8.50%(c)

     378,338       3,745,546  

NiSource Inc., Series B, 6.50%(c)

     1,565,872       43,656,511  

Sempra Energy

    

Series A, 6.00%(d)

     1,350,613       162,100,572  

Series B, 6.75%(d)

     450,179       53,602,814  
   

 

 

  
      583,882,824  
Oil, Gas & Consumable Fuels — 2.7%            

Chesapeake Energy Corp., 4.50%(a)(d)

     207,514       4,254,037  

DCP Midstream LP

    

Series B, 7.88%(c)

     523,250       12,584,162  

Series C, 7.95%(c)

     356,004       8,747,018  

El Paso Energy Capital Trust I, 4.75%(d)

     374,130       19,252,730  

Enbridge Inc., Series B, 6.38%(c)

     2,036,236       56,159,389  

Energy Transfer Operating LP

    

Series C, 7.38%(c)

     1,409,270       34,132,519  

Series D, 7.63%(c)

     1,393,597       34,589,078  

Series E, 7.60%(c)

     2,505,362       63,435,766  

GasLog Ltd., Series A, 8.75%

     373,012       9,590,139  

Golar LNG Partners LP, Series A, 8.75%

     447,814       11,540,167  

Hoegh LNG Partners LP, Series A, 8.75%

     500,273       13,062,128  

NGL Energy Partners LP, Series B, 9.00%(c)

     985,347       25,825,945  

NuStar Energy LP

    

Series A, 8.50%(c)

     709,325       17,073,453  

Series B, 7.63%(c)

     1,205,723       26,103,903  

Series C, 9.00%(a)(c)

     539,643       13,566,625  

NuStar Logistics LP, 8.73% (3 mo. LIBOR US + 6.734%)(b)

     1,365,972       35,214,758  

Targa Resources Partners LP, Series A, 9.00%(c)

     405,511       10,486,514  

Teekay LNG Partners LP

    

9.00%

     405,667       10,733,949  

Series B, 8.50%(c)

     532,410       13,789,419  

Teekay Offshore Partners LP

    

Series A, 7.25%

     486,580       10,291,167  

Series B, 8.50%

     408,484       9,088,769  

Series E, 8.88%(c)

     389,416       8,711,236  
   

 

 

  
      448,232,871  
Real Estate Management & Development — 0.2%  

Brookfield Property Partners LP

    

Series A, 6.50%

     576,230       14,964,693  

Series A2, 6.38%

     782,929       20,771,106  
   

 

 

  
      35,735,799  
Road & Rail — 0.1%            

GATX Corp., 5.63%(a)

     506,770       13,642,248  
   

 

 

  
Semiconductors & Semiconductor Equipment — 2.2%  

Broadcom Inc., Series A, 8.00%(d)

     313,211       368,953,162  
   

 

 

  
Security   Shares     Value  
Software — 0.1%            

Tennessee Valley Authority

    

Series A, 3.36% (30 Year CMT + 0.840%)(b)

     447,380     $ 11,385,821  

Series D, 3.55% (30 Year CMT + 0.940%)(b)

     527,185       14,086,383  
   

 

 

  
      25,472,204  
Specialty Retail — 0.1%            

TravelCenters of America Inc.

    

8.00%

     231,211       5,838,078  

8.00%

     324,362       8,271,231  

8.25%

     356,023       9,089,267  
   

 

 

  
      23,198,576  
Thrifts & Mortgage Finance — 0.4%            

Federal Agricultural Mortgage Corp., Series D, 5.70%(a)

     324,349       8,757,423  

Merchants Bancorp./IN, Series H, 6.00%(c)

     405,511       10,774,427  

New York Community Bancorp Inc., Series A, 6.38%(c)

     1,612,803       45,093,972  

New York Community Capital Trust V, 6.00%(d)

     139,697       7,082,638  
   

 

 

  
      71,708,460  
Trading Companies & Distributors — 0.3%  

Air Lease Corp., Series A, 6.15%(c)

     782,935       21,562,030  

Fortress Transportation and Infrastructure Investors LLC,
8.00%(c)

     375,000       9,750,000  

Triton International Ltd./Bermuda

    

7.38%

     547,202       14,188,948  

8.00%

     466,313       12,623,093  
   

 

 

  
      58,124,071  
Water Utilities — 0.2%            

Aqua America Inc., 6.00%(a)(d)

     452,028       28,183,946  
   

 

 

  
Wireless Telecommunication Services — 0.3%  

U.S. Cellular Corp., 6.95%

     649,487       16,438,516  

United States Cellular Corp.

    

7.25%

     519,908       13,424,025  

7.25%(a)

     568,125       14,805,337  
   

 

 

  
      44,667,878  
   

 

 

  

Total Preferred Stocks — 99.3%
(Cost: $16,377,674,043)

       16,726,989,145  
   

 

 

  

Short-Term Investments

    
Money Market Funds — 4.2%            

BlackRock Cash Funds: Institutional,
SL Agency Shares,
    1.84%(g)(h)(i)

     101,419,290       101,459,857  

BlackRock Cash Funds: Treasury,
SL Agency Shares,
    1.52%(g)(h)

     594,762,000       594,762,000  
   

 

 

  
      696,221,857  
   

 

 

  

Total Short-Term Investments — 4.2%
(Cost: $696,208,544)

 

     696,221,857  
   

 

 

  

Total Investments in Securities — 103.5%
(Cost: $17,073,882,587)

 

     17,423,211,002  

Other Assets, Less Liabilities — (3.5)%

 

     (582,107,502 ) 
   

 

 

  

Net Assets — 100.0%

     $   16,841,103,500  
   

 

 

  

 

(a) 

All or a portion of this security is on loan.

(b) 

Variable or floating rate security. Rate shown is the rate in effect as of period-end.

(c) 

Security is issued at a fixed coupon rate, which converts to a variable rate at a specified date.

 

 

 

6

Schedule of Investments  (unaudited) (continued)

December 31, 2019

   

iShares® Preferred and Income Securities ETF

 

(d) 

Convertible preferred stock.

(e) 

Non-income producing security.

(f) 

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.

(g) 

Affiliate of the Fund.

(h) 

Annualized 7-day yield as of period-end.

(i) 

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

    

 

 

Affiliates

Investments in issuers considered to be affiliates of the Fund during the nine months ended December 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer   

Shares

Held at

03/31/19

     

Shares

Purchased

     

Shares

Sold

     

Shares

Held at
12/31/19

     

Value at

12/31/19

      Income     

Net

Realized

Gain (Loss)

     

Change in

Unrealized

Appreciation

(Depreciation)

  

BlackRock Cash Funds: Institutional,
SL Agency Shares

      44,046,900        57,372,390 (a)       —        101,419,290      $ 101,459,857      $ 4,338,910 (b)      $ 8,052      $ 660  

BlackRock Cash Funds: Treasury,
SL Agency Shares

      270,452,652        324,309,348 (a)       —        594,762,000        594,762,000        3,428,554        —        —  

iShares 0-5 Year High Yield Corporate Bond ETF

      208,480        —        (208,480 )       —        —        85,329        (318,920 )       195,672  

iShares Core U.S. Aggregate Bond ETF

      155,000        —        (155,000 )       —        —        80,947        11,882        146,599  

PennyMac Mortgage Investment Trust

                        

Series A, 8.13%

      106,808        267,376        —        374,184        9,927,102        394,246        —        132,331  

Series B, 8.00%

      765,656        64,997        (219,999 )       610,654        16,011,348        1,084,031        67,446        616,240  
              

 

 

     

 

 

     

 

 

     

 

 

  
               $ 722,160,307      $ 9,412,017      $ (231,540 )     $ 1,091,502  
              

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a) 

Net of purchases and sales.

 
  (b) 

Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

 

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at iShares.com and on the U.S. Securities and Exchange Commission website at sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of December 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

 

                                                                                                           
      Level 1        Level 2        Level 3        Total  

Investments

                  

Assets

                  

Preferred Stocks

    $ 16,726,989,145        $ —        $ —        $ 16,726,989,145  

Money Market Funds

      696,221,857          —          —          696,221,857  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 17,423,211,002        $ —        $ —        $ 17,423,211,002  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviations — Fixed Income
CMT    Constant Maturity Treasury
LIBOR    London Interbank Offered Rate

 

 

7