Schedule of Investments  (unaudited) November 30, 2020 iShares^® 10-20 Year Treasury Bond ETF (Percentages shown are based on Net Assets)

Security	Par (000)		Value
U.S. Government Obligations
U.S. Government Obligations — 97.6%
U.S. Treasury Note/Bond
0.63%, 05/15/30	$	1	$	983
0.63%, 08/15/30		44,853		43,983,973
1.13%, 05/15/40		252,913		243,389,245
1.13%, 08/15/40		365,738		350,994,763
1.38%, 11/15/40		34,881		34,946,703
3.13%, 11/15/41		1		1,326
3.88%, 08/15/40		85,760		124,633,400
4.25%, 05/15/39		84,917		127,726,507
4.25%, 11/15/40		5		7,620
4.38%, 02/15/38		14,918		22,468,771
4.38%, 11/15/39		212,765		326,261,216
4.38%, 05/15/40		1		1,540
4.38%, 05/15/41		1		1,554
4.50%, 02/15/36		1,657		2,461,494
4.50%, 05/15/38		18,811		28,798,772
4.63%, 02/15/40		14,128		22,334,933
4.75%, 02/15/37		37,133		57,325,519
5.00%, 05/15/37		30,107		47,792,511
5.38%, 02/15/31		41		59,400
U.S. Treasury STRIPS, 0.00%, 08/15/36(a)		43,542		35,327,772
				1,468,518,002
Total U.S. Government Obligations — 97.6% (Cost: $1,447,858,288)				1,468,518,002

Security	Shares (000)		Value
Short-Term Investments
Money Market Funds — 1.7%
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%(b)(c)		25,367	$	25,367,000
Total Short-Term Investments — 1.7% (Cost: $25,367,000)				25,367,000
Total Investments in Securities — 99.3% (Cost: $1,473,225,288)				1,493,885,002
Other Assets, Less Liabilities — 0.7%				9,784,664
Net Assets — 100.0%			$	1,503,669,666

^(a)  Zero-coupon bond.

^(b)  Affiliate of the Fund.

^(c)  Annualized 7-day yield as of period-end.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 02/29/20		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 11/30/20		Shares Held at 11/30/20 (000)		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Treasury, SL Agency Shares	$	23,588,000	$	1,779,000	(a)	$	—	$	—	$	—	$	25,367,000		25,367	$	93,846	(b)	$	—

^(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 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 November 30, 2020. 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
U.S. Government Obligations	$	—	$	1,468,518,002	$	—	$1,468,518,002
Money Market Funds		25,367,000		—		—	25,367,000
	$	25,367,000	$	1,468,518,002	$	—	$1,493,885,002

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Schedule of Investments (unaudited) (continued) November 30, 2020 iShares^® 10-20 Year Treasury Bond ETF

Portfolio Abbreviations - Fixed Income
STRIPS	Separate Trading of Registered Interest & Principal of Securities

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