| Schedule of Investments (unaudited) | iShares® Semiconductor ETF |
| June 30, 2021 | (Formerly iShares® PHLX Semiconductor ETF) |
| (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Semiconductor Equipment — 19.6% | ||||||||
| Applied Materials Inc. | 1,893,010 | $ | 269,564,624 | |||||
| ASML Holding NV, NYS(a)(b) | 366,877 | 253,453,307 | ||||||
| Entegris Inc. | 822,265 | 101,113,927 | ||||||
| KLA Corp. | 825,149 | 267,521,557 | ||||||
| Lam Research Corp. | 402,371 | 261,822,810 | ||||||
| MKS Instruments Inc. | 337,208 | 60,006,163 | ||||||
| Teradyne Inc. | 1,013,995 | 135,834,770 | ||||||
| 1,349,317,158 | ||||||||
| Semiconductors — 80.2% | ||||||||
| Advanced Micro Devices Inc.(b)(c) | 3,265,252 | 306,705,120 | ||||||
| Analog Devices Inc. | 1,588,586 | 273,490,966 | ||||||
| ASE Technology Holding Co. Ltd., ADR | 4,623,539 | 37,219,489 | ||||||
| Broadcom Inc. | 1,107,199 | 527,956,771 | ||||||
| Cree Inc.(b)(c) | 700,853 | 68,634,534 | ||||||
| Intel Corp. | 9,155,509 | 513,990,275 | ||||||
| Marvell Technology Inc. | 4,996,389 | 291,439,370 | ||||||
| Maxim Integrated Products Inc. | 1,631,297 | 171,873,452 | ||||||
| Microchip Technology Inc. | 1,640,051 | 245,581,237 | ||||||
| Micron Technology Inc.(c) | 3,107,696 | 264,092,006 | ||||||
| Monolithic Power Systems Inc. | 264,112 | 98,632,626 | ||||||
| NVIDIA Corp. | 804,831 | 643,945,283 | ||||||
| NXP Semiconductors NV | 1,236,787 | 254,431,822 | ||||||
| ON Semiconductor Corp.(c) | 2,578,217 | 98,694,147 | ||||||
| Qorvo Inc.(c) | 685,207 | 134,060,750 | ||||||
| QUALCOMM Inc. | 2,672,370 | 381,961,844 | ||||||
| Skyworks Solutions Inc. | 1,006,974 | 193,087,265 | ||||||
| STMicroelectronics NV., NVS | 1,920,729 | 69,876,121 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 2,111,579 | 253,727,333 | ||||||
| Texas Instruments Inc. | 1,894,114 | 364,238,122 | ||||||
| United Microelectronics Corp., ADR | 5,238,326 | 49,502,181 | ||||||
| Security | Shares | Value | ||||||
| Semiconductors (continued) | ||||||||
| Universal Display Corp. | 263,831 | $ | 58,657,546 | |||||
| Xilinx Inc. | 1,502,088 | 217,262,008 | ||||||
| 5,519,060,268 | ||||||||
| Total Common Stocks — 99.8% | ||||||||
| (Cost: $6,189,436,972) | 6,868,377,426 | |||||||
Short-Term Investments
| Money Market Funds — 4.0% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 0.07%(d)(e)(f) | 259,975,995 | 260,131,981 | ||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e) | 13,240,000 | 13,240,000 | ||||||
| 273,371,981 | ||||||||
| Total Short -Term Investments — 4.0% | ||||||||
| (Cost: $273,340,034) | 273,371,981 | |||||||
| Total Investments in Securities — 103.8% | ||||||||
| (Cost: $6,462,777,006) | 7,141,749,407 | |||||||
| Other Assets, Less Liabilities — (3.8)% | (258,882,561 | ) | ||||||
| Net Assets — 100.0% | $ | 6,882,866,846 | ||||||
| (a) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
| (b) | All or a portion of this security is on loan. |
| (c) | Non-income producing security. |
| (d) | Affiliate of the Fund. |
| (e) | Annualized 7-day yield as of period-end. |
| (f) | All or a portion of this security was purchased with cash collateral received from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended June 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 06/30/21 | Shares Held at 06/30/21 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 33,454,684 | $ | 226,665,851 | (a) | $ | — | $ | 8,065 | $ | 3,381 | $ | 260,131,981 | 259,975,995 | $ | 45,562 | (b) | $ | — | |||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 9,855,000 | 3,385,000 | (a) | — | — | — | 13,240,000 | 13,240,000 | 247 | — | ||||||||||||||||||||||||||
| $ | 8,065 | $ | 3,381 | $ | 273,371,981 | $ | 45,809 | $ | — | |||||||||||||||||||||||||||
| (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. |
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| Schedule of Investments (unaudited) (continued) | iShares® Semiconductor ETF |
| June 30, 2021 | (Formerly iShares® PHLX Semiconductor ETF) |
Futures Contracts
| Value/ | ||||||||||||||||
| Notional | Unrealized | |||||||||||||||
| Number of | Expiration | Amount | Appreciation | |||||||||||||
| Description | Contracts | Date | (000) | (Depreciation) | ||||||||||||
| Long Contracts | ||||||||||||||||
| Russell 2000 Micro E-Mini Index | 30 | 09/17/21 | $ | 3,462 | $ | 23,036 | ||||||||||
| S&P Select Sector Technology E-Mini Index | 68 | 09/17/21 | 10,109 | 404,407 | ||||||||||||
| $ | 427,443 |
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 June 30, 2021. 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 | ||||||||||||||||
| Common Stocks | $ | 6,868,377,426 | $ | — | $ | — | $ | 6,868,377,426 | ||||||||
| Money Market Funds | 273,371,981 | — | — | 273,371,981 | ||||||||||||
| $ | 7,141,749,407 | $ | — | $ | — | $ | 7,141,749,407 | |||||||||
| Derivative financial instruments(a) | ||||||||||||||||
| Assets | ||||||||||||||||
| Futures Contracts | $ | 427,443 | $ | — | $ | — | $ | 427,443 | ||||||||
| (a) | Shown at the unrealized appreciation (depreciation) on the contracts. |
Portfolio Abbreviations - Equity
| ADR | American Depositary Receipt |
| NVS | Non-Voting Shares |
| NYS | New York Registered Shares |
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