| Schedule of Investments (unaudited) | iShares® iBonds® Dec 2025 Term Corporate ETF |
| July 31, 2022 | (Percentages shown are based on Net Assets) |
| Security | Par
(000) | Value | ||||||
| Corporate Bonds & Notes | ||||||||
| Aerospace & Defense — 1.9% | ||||||||
| Boeing Co. (The) | ||||||||
| 2.60%, 10/30/25 (Call 07/30/25) | $ | 865 | $ | 818,402 | ||||
| 4.88%, 05/01/25 (Call 04/01/25) | 9,087 | 9,226,486 | ||||||
| General Dynamics Corp. | ||||||||
| 3.25%, 04/01/25 (Call 03/01/25) | 2,488 | 2,495,290 | ||||||
| 3.50%, 05/15/25 (Call 03/15/25)(a) | 2,442 | 2,467,421 | ||||||
| L3Harris Technologies Inc., 3.83%, 04/27/25 (Call 01/27/25) | 2,047 | 2,043,889 | ||||||
| Northrop Grumman Corp., 2.93%, 01/15/25 (Call 11/15/24) | 4,317 | 4,277,413 | ||||||
| Raytheon Technologies Corp., 3.95%, 08/16/25 (Call 06/16/25) | 4,325 | 4,408,775 | ||||||
| 25,737,676 | ||||||||
| Agriculture — 1.2% | ||||||||
| Altria Group Inc., 2.35%, 05/06/25 (Call 04/06/25) | 2,447 | 2,356,975 | ||||||
| Bunge Ltd. Finance Corp., 1.63%, 08/17/25 (Call 07/17/25) | 2,120 | 1,983,620 | ||||||
| Philip Morris International Inc. | ||||||||
| 1.50%, 05/01/25 (Call 04/01/25) | 2,617 | 2,482,826 | ||||||
| 3.38%, 08/11/25 (Call 05/11/25) | 2,333 | 2,322,478 | ||||||
| Reynolds American Inc., 4.45%, 06/12/25 (Call 03/12/25) | 6,930 | 6,936,376 | ||||||
| 16,082,275 | ||||||||
| Airlines — 0.4% | ||||||||
| Southwest Airlines Co., 5.25%, 05/04/25 (Call 04/04/25) | 4,364 | 4,497,887 | ||||||
| United Airlines Pass Through Trust, Series 2013-1, Class A, 4.30%, 02/15/27(a) | 584 | 554,068 | ||||||
| 5,051,955 | ||||||||
| Apparel — 0.6% | ||||||||
| NIKE Inc., 2.40%, 03/27/25 (Call 02/27/25) | 3,334 | 3,288,558 | ||||||
| PVH Corp., 4.63%, 07/10/25 (Call 06/10/25) | 1,311 | 1,312,547 | ||||||
| Ralph Lauren Corp., 3.75%, 09/15/25 (Call 07/15/25) | 1,195 | 1,201,190 | ||||||
| Tapestry Inc., 4.25%, 04/01/25 (Call 01/01/25)(a) | 150 | 150,270 | ||||||
| VF Corp., 2.40%, 04/23/25 (Call 03/23/25) | 2,062 | 2,000,078 | ||||||
| 7,952,643 | ||||||||
| Auto Manufacturers — 3.4% | ||||||||
| American Honda Finance Corp. | ||||||||
| 1.00%, 09/10/25(a) | 2,248 | 2,085,717 | ||||||
| 1.20%, 07/08/25(a) | 2,065 | 1,940,439 | ||||||
| 1.50%, 01/13/25 | 2,005 | 1,922,695 | ||||||
| Cummins Inc., 0.75%, 09/01/25 (Call 08/01/25) | 1,624 | 1,509,654 | ||||||
| General Motors Co. | ||||||||
| 4.00%, 04/01/25(a) | 1,245 | 1,240,705 | ||||||
| 6.13%, 10/01/25 (Call 09/01/25)(a) | 5,135 | 5,398,888 | ||||||
| General Motors Financial Co. Inc. | ||||||||
| 2.75%, 06/20/25 (Call 05/20/25)(a) | 2,955 | 2,831,304 | ||||||
| 2.90%, 02/26/25 (Call 01/26/25)(a) | 2,956 | 2,862,383 | ||||||
| 3.80%, 04/07/25 | 2,270 | 2,240,672 | ||||||
| 4.00%, 01/15/25 (Call 10/15/24) | 2,340 | 2,320,321 | ||||||
| 4.30%, 07/13/25 (Call 04/13/25) | 1,908 | 1,915,708 | ||||||
| 4.35%, 04/09/25 (Call 02/09/25)(a) | 2,618 | 2,623,262 | ||||||
| Honda Motor Co. Ltd., 2.27%, 03/10/25 (Call 02/10/25) | 605 | 588,477 | ||||||
| PACCAR Financial Corp. | ||||||||
| 1.80%, 02/06/25 | 738 | 711,181 | ||||||
| 2.85%, 04/07/25(a) | 720 | 712,850 | ||||||
| Toyota Motor Credit Corp. | ||||||||
| 0.80%, 10/16/25(a) | 2,337 | 2,157,308 | ||||||
| 1.45%, 01/13/25(a) | 2,730 | 2,617,442 | ||||||
| 1.80%, 02/13/25(a) | 3,334 | 3,216,377 | ||||||
| 3.00%, 04/01/25 | 3,198 | 3,173,120 | ||||||
| 3.40%, 04/14/25(a) | 1,185 | 1,187,808 | ||||||
| Security | Par
(000) | Value | ||||||
| Auto Manufacturers (continued) | ||||||||
| 3.95%, 06/30/25 | $ | 3,415 | $ | 3,468,513 | ||||
| 46,724,824 | ||||||||
| Auto Parts & Equipment — 0.5% | ||||||||
| Aptiv PLC/Aptiv Corp., 2.40%, 02/18/25 (Call 02/18/23) | 2,565 | 2,472,275 | ||||||
| BorgWarner Inc., 3.38%, 03/15/25 (Call 12/15/24) | 2,256 | 2,218,731 | ||||||
| Magna International Inc., 4.15%, 10/01/25 (Call 07/01/25) | 1,827 | 1,848,431 | ||||||
| 6,539,437 | ||||||||
| Banks — 23.2% | ||||||||
| Australia & New Zealand Banking Group Ltd./New York NY, 3.70%, 11/16/25 | 2,542 | 2,557,099 | ||||||
| Banco Bilbao Vizcaya Argentaria SA, 1.13%, 09/18/25 | 2,695 | 2,481,610 | ||||||
| Banco Santander SA | ||||||||
| 2.75%, 05/28/25 | 4,360 | 4,161,533 | ||||||
| 3.50%, 03/24/25 | 2,275 | 2,259,757 | ||||||
| 5.18%, 11/19/25 | 4,054 | 4,095,148 | ||||||
| Bank of America Corp. | ||||||||
| 3.88%, 08/01/25 | 4,562 | 4,619,527 | ||||||
| 4.00%, 01/22/25 | 6,419 | 6,440,632 | ||||||
| Series L, 3.95%, 04/21/25 | 6,378 | 6,385,398 | ||||||
| Bank of Montreal | ||||||||
| 1.50%, 01/10/25 | 3,220 | 3,073,651 | ||||||
| 1.85%, 05/01/25(a) | 4,143 | 3,961,205 | ||||||
| 3.70%, 06/07/25 | 3,930 | 3,936,013 | ||||||
| Bank of New York Mellon Corp. (The) | ||||||||
| 1.60%, 04/24/25 (Call 03/24/25) | 3,618 | 3,448,895 | ||||||
| 3.35%, 04/25/25 (Call 03/25/25) | 3,140 | 3,139,027 | ||||||
| 3.95%, 11/18/25 (Call 10/18/25)(a) | 1,056 | 1,071,671 | ||||||
| Series G, 3.00%, 02/24/25 (Call 01/24/25) | 2,071 | 2,052,941 | ||||||
| Bank of Nova Scotia (The) | ||||||||
| 1.30%, 06/11/25(a) | 3,497 | 3,287,635 | ||||||
| 1.45%, 01/10/25 | 1,515 | 1,442,265 | ||||||
| 2.20%, 02/03/25 | 3,844 | 3,716,956 | ||||||
| 3.45%, 04/11/25 | 3,545 | 3,521,319 | ||||||
| BankUnited Inc., 4.88%, 11/17/25 (Call 08/17/25) | 1,525 | 1,551,093 | ||||||
| Barclays PLC, 3.65%, 03/16/25 | 6,061 | 5,969,297 | ||||||
| Canadian Imperial Bank of Commerce | ||||||||
| 0.95%, 10/23/25(a) | 2,129 | 1,956,615 | ||||||
| 2.25%, 01/28/25 | 3,462 | 3,352,497 | ||||||
| 3.30%, 04/07/25 | 1,445 | 1,430,709 | ||||||
| Citigroup Inc. | ||||||||
| 3.30%, 04/27/25 | 3,922 | 3,907,685 | ||||||
| 3.88%, 03/26/25 | 2,677 | 2,674,965 | ||||||
| 4.40%, 06/10/25 | 6,216 | 6,279,963 | ||||||
| 5.50%, 09/13/25 | 3,586 | 3,740,772 | ||||||
| Citizens Bank NA/Providence RI, 2.25%, 04/28/25 (Call 03/28/25) | 2,161 | 2,070,368 | ||||||
| Citizens Financial Group Inc., 4.30%, 12/03/25 (Call 11/03/25)(a) | 1,188 | 1,192,895 | ||||||
| Comerica Bank, 4.00%, 07/27/25 | 750 | 746,235 | ||||||
| Cooperatieve Rabobank U.A., 4.38%, 08/04/25 | 5,034 | 5,046,082 | ||||||
| Cooperatieve Rabobank U.A./NY | ||||||||
| 1.38%, 01/10/25 | 840 | 797,572 | ||||||
| 3.38%, 05/21/25 | 2,340 | 2,319,665 | ||||||
| Credit Suisse AG/New York NY | ||||||||
| 2.95%, 04/09/25(a) | 3,853 | 3,728,432 | ||||||
| 3.70%, 02/21/25 | 5,760 | 5,683,334 | ||||||
| Credit Suisse Group AG, 3.75%, 03/26/25(a) | 6,171 | 5,986,487 | ||||||
| Deutsche Bank AG/New York NY, 4.16%, 05/13/25(a) | 1,930 | 1,938,125 | ||||||
| Fifth Third Bancorp., 2.38%, 01/28/25 (Call 12/28/24) | 3,544 | 3,434,136 | ||||||
| Fifth Third Bank NA, 3.95%, 07/28/25 (Call 06/28/25)(a) | 1,530 | 1,549,064 | ||||||
1
| Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Corporate ETF |
| July 31, 2022 | (Percentages shown are based on Net Assets) |
| Security | Par
(000) | Value | ||||||
| Banks (continued) | ||||||||
| First Horizon Corp., 4.00%, 05/26/25 (Call 04/26/25) | $ | 990 | $ | 982,110 | ||||
| Goldman Sachs Group Inc. (The) | ||||||||
| 3.50%, 01/23/25 (Call 10/23/24) | 6,092 | 6,087,004 | ||||||
| 3.50%, 04/01/25 (Call 03/01/25) | 9,213 | 9,162,881 | ||||||
| 3.75%, 05/22/25 (Call 02/22/25) | 5,530 | 5,534,977 | ||||||
| 4.25%, 10/21/25(a) | 4,749 | 4,812,921 | ||||||
| HSBC Holdings PLC, 4.25%, 08/18/25(a) | 4,183 | 4,157,944 | ||||||
| Huntington Bancshares Inc./OH, 4.00%, 05/15/25 (Call 04/15/25) | 1,691 | 1,703,835 | ||||||
| JPMorgan Chase & Co. | ||||||||
| 3.13%, 01/23/25 (Call 10/23/24)(a) | 6,631 | 6,623,772 | ||||||
| 3.90%, 07/15/25 (Call 04/15/25) | 6,844 | 6,930,850 | ||||||
| 7.75%, 07/15/25 | 490 | 543,812 | ||||||
| KeyBank NA/Cleveland OH, 3.30%, 06/01/25(a) | 2,408 | 2,393,865 | ||||||
| KeyCorp., 4.15%, 10/29/25 | 1,438 | 1,453,430 | ||||||
| Lloyds Bank PLC, 3.50%, 05/14/25(a) | 425 | 419,815 | ||||||
| Lloyds Banking Group PLC | ||||||||
| 4.45%, 05/08/25 | 4,293 | 4,318,930 | ||||||
| 4.58%, 12/10/25 | 3,772 | 3,720,361 | ||||||
| Manufacturers & Traders Trust Co., 2.90%, 02/06/25 (Call 01/06/25) | 2,967 | 2,914,662 | ||||||
| Mitsubishi UFJ Financial Group Inc. | ||||||||
| 1.41%, 07/17/25 | 4,885 | 4,556,728 | ||||||
| 2.19%, 02/25/25 | 7,426 | 7,108,464 | ||||||
| 3.78%, 03/02/25(a) | 1,762 | 1,769,841 | ||||||
| Morgan Stanley | ||||||||
| 4.00%, 07/23/25(a) | 8,056 | 8,140,427 | ||||||
| 5.00%, 11/24/25 | 5,411 | 5,576,793 | ||||||
| National Australia Bank Ltd/New York, 3.50%, 06/09/25 | 610 | 608,719 | ||||||
| Northern Trust Corp., 3.95%, 10/30/25(a) | 2,982 | 3,030,249 | ||||||
| PNC Bank N.A. | ||||||||
| 2.95%, 02/23/25 (Call 01/24/25) | 2,487 | 2,451,063 | ||||||
| 3.25%, 06/01/25 (Call 05/02/25) | 2,281 | 2,264,417 | ||||||
| 3.88%, 04/10/25 (Call 03/10/25) | 1,822 | 1,823,585 | ||||||
| 4.20%, 11/01/25 (Call 10/02/25) | 1,480 | 1,488,791 | ||||||
| Regions Financial Corp., 2.25%, 05/18/25 (Call 04/18/25) | 2,532 | 2,455,230 | ||||||
| Royal Bank of Canada | ||||||||
| 1.15%, 06/10/25 | 5,012 | 4,686,771 | ||||||
| 1.60%, 01/21/25 | 1,310 | 1,250,696 | ||||||
| 3.38%, 04/14/25 | 2,740 | 2,726,245 | ||||||
| Santander Holdings USA Inc. | ||||||||
| 3.45%, 06/02/25 (Call 05/02/25) | 2,976 | 2,888,833 | ||||||
| 4.50%, 07/17/25 (Call 04/17/25) | 2,994 | 2,996,994 | ||||||
| State Street Corp., 3.55%, 08/18/25(a) | 4,529 | 4,561,926 | ||||||
| Sumitomo Mitsui Banking Corp., 3.65%, 07/23/25 | 780 | 772,091 | ||||||
| Sumitomo Mitsui Financial Group Inc. | ||||||||
| 1.47%, 07/08/25 | 6,959 | 6,487,736 | ||||||
| 2.35%, 01/15/25 | 3,824 | 3,675,591 | ||||||
| SVB Financial Group, 3.50%, 01/29/25 | 1,214 | 1,195,037 | ||||||
| Toronto-Dominion Bank (The) | ||||||||
| 0.75%, 09/11/25(a) | 2,858 | 2,621,929 | ||||||
| 1.15%, 06/12/25 | 2,379 | 2,225,531 | ||||||
| 1.45%, 01/10/25(a) | 2,455 | 2,344,058 | ||||||
| 3.77%, 06/06/25 | 4,420 | 4,437,194 | ||||||
| Truist Bank | ||||||||
| 1.50%, 03/10/25 (Call 02/10/25) | 3,248 | 3,088,621 | ||||||
| 3.63%, 09/16/25 (Call 08/16/25) | 3,132 | 3,122,855 | ||||||
| 4.05%, 11/03/25 (Call 09/03/25) | 1,110 | 1,127,205 | ||||||
| Truist Financial Corp. | ||||||||
| 1.20%, 08/05/25 (Call 07/03/25) | 1,679 | 1,563,300 | ||||||
| Security | Par
(000) | Value | ||||||
| Banks (continued) | ||||||||
| 3.70%, 06/05/25 (Call 05/05/25)(a) | $ | 2,365 | $ | 2,381,106 | ||||
| 4.00%, 05/01/25 (Call 03/01/25) | 2,325 | 2,351,017 | ||||||
| U.S. Bancorp. | ||||||||
| 1.45%, 05/12/25 (Call 04/11/25)(a) | 3,897 | 3,723,505 | ||||||
| 3.95%, 11/17/25 (Call 10/17/25)(a) | 1,962 | 2,002,064 | ||||||
| U.S. Bank NA/Cincinnati OH | ||||||||
| 2.05%, 01/21/25 (Call 12/20/24)(a) | 2,861 | 2,771,279 | ||||||
| 2.80%, 01/27/25 (Call 12/27/24)(a) | 1,683 | 1,658,883 | ||||||
| Wells Fargo & Co. | ||||||||
| 3.00%, 02/19/25(a) | 7,144 | 7,069,274 | ||||||
| 3.55%, 09/29/25 | 6,987 | 6,967,087 | ||||||
| Westpac Banking Corp. | ||||||||
| 2.35%, 02/19/25(a) | 3,551 | 3,456,898 | ||||||
| 3.74%, 08/26/25(a) | 1,150 | 1,155,911 | ||||||
| 319,353,386 | ||||||||
| Beverages — 1.3% | ||||||||
| Brown-Forman Corp., 3.50%, 04/15/25 (Call 02/15/25)(a) | 904 | 911,675 | ||||||
| Coca-Cola Consolidated Inc., 3.80%, 11/25/25 (Call 08/25/25)(a) | 1,113 | 1,114,937 | ||||||
| Constellation Brands Inc. | ||||||||
| 4.40%, 11/15/25 (Call 09/15/25)(a) | 1,440 | 1,468,498 | ||||||
| 4.75%, 12/01/25(a) | 1,030 | 1,053,103 | ||||||
| Diageo Capital PLC, 1.38%, 09/29/25 (Call 08/29/25) | 2,420 | 2,281,092 | ||||||
| Keurig Dr Pepper Inc. | ||||||||
| 3.40%, 11/15/25 (Call 08/15/25)(a) | 2,068 | 2,055,178 | ||||||
| 4.42%, 05/25/25 (Call 03/25/25)(a) | 902 | 919,264 | ||||||
| PepsiCo Inc. | ||||||||
| 2.25%, 03/19/25 (Call 02/19/25) | 3,771 | 3,703,574 | ||||||
| 2.75%, 04/30/25 (Call 01/30/25)(a) | 2,592 | 2,578,418 | ||||||
| 3.50%, 07/17/25 (Call 04/17/25)(a) | 1,746 | 1,769,711 | ||||||
| 17,855,450 | ||||||||
| Biotechnology — 1.4% | ||||||||
| Amgen Inc. | ||||||||
| 1.90%, 02/21/25 (Call 01/21/25) | 1,622 | 1,566,901 | ||||||
| 3.13%, 05/01/25 (Call 02/01/25)(a) | 2,402 | 2,392,464 | ||||||
| Baxalta Inc., 4.00%, 06/23/25 (Call 03/23/25) | 2,734 | 2,736,597 | ||||||
| Biogen Inc., 4.05%, 09/15/25 (Call 06/15/25) | 4,783 | 4,815,094 | ||||||
| Gilead Sciences Inc., 3.50%, 02/01/25 (Call 11/01/24)(a) | 5,028 | 5,052,637 | ||||||
| Royalty Pharma PLC, 1.20%, 09/02/25 (Call 08/02/25)(a) | 2,873 | 2,642,815 | ||||||
| 19,206,508 | ||||||||
| Building Materials — 0.4% | ||||||||
| Carrier Global Corp., 2.24%, 02/15/25 (Call 01/15/25) | 916 | 883,812 | ||||||
| Fortune Brands Home & Security Inc., 4.00%, 06/15/25 (Call 03/15/25)(a) | 1,864 | 1,865,137 | ||||||
| Lennox International Inc., 1.35%, 08/01/25 (Call 07/01/25) | 1,464 | 1,355,547 | ||||||
| Vulcan Materials Co., 4.50%, 04/01/25 (Call 01/01/25) | 927 | 942,397 | ||||||
| 5,046,893 | ||||||||
| Chemicals — 1.5% | ||||||||
| Air Products and Chemicals Inc., 1.50%, 10/15/25 (Call 09/15/25) | 1,527 | 1,452,376 | ||||||
| Celanese U.S. Holdings LLC, 6.05%, 03/15/25 | 4,565 | 4,604,898 | ||||||
| DuPont de Nemours Inc., 4.49%, 11/15/25 (Call 09/15/25) | 5,060 | 5,189,738 | ||||||
| Eastman Chemical Co., 3.80%, 03/15/25 (Call 12/15/24) | 2,094 | 2,085,205 | ||||||
| EI du Pont de Nemours and Co., 1.70%, 07/15/25 (Call 06/15/25) | 1,603 | 1,531,987 | ||||||
| Linde Inc./CT, 2.65%, 02/05/25 (Call 11/05/24) | 1,252 | 1,235,987 | ||||||
| LYB International Finance III LLC, 1.25%, 10/01/25 (Call 09/01/25) | 1,376 | 1,265,769 | ||||||
| Nutrien Ltd., 3.00%, 04/01/25 (Call 01/01/25) | 1,573 | 1,549,200 | ||||||
2
| Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Corporate ETF |
| July 31, 2022 | (Percentages shown are based on Net Assets) |
| Security | Par
(000) | Value | ||||||
| Chemicals (continued) | ||||||||
| Sherwin-Williams Co. (The), 3.45%, 08/01/25 (Call 05/01/25) | $ | 1,177 | $ | 1,164,006 | ||||
| 20,079,166 | ||||||||
| Commercial Services — 1.3% | ||||||||
| Automatic Data Processing Inc., 3.38%, 09/15/25 (Call 06/15/25)(a) | 3,204 | 3,250,810 | ||||||
| Block Financial LLC, 5.25%, 10/01/25 (Call 07/01/25) | 1,090 | 1,115,059 | ||||||
| Cintas Corp. No. 2, 3.45%, 05/01/25 (Call 04/01/25) | 190 | 189,918 | ||||||
| Equifax Inc., 2.60%, 12/15/25 (Call 11/15/25) | 1,527 | 1,450,726 | ||||||
| Global Payments Inc., 2.65%, 02/15/25 (Call 01/15/25) | 3,126 | 3,014,433 | ||||||
| Moody’s Corp., 3.75%, 03/24/25 (Call 02/24/25) | 2,062 | 2,075,589 | ||||||
| PayPal Holdings Inc., 1.65%, 06/01/25 (Call 05/01/25)(a) | 3,175 | 3,050,096 | ||||||
| Verisk Analytics Inc., 4.00%, 06/15/25 (Call 03/15/25) | 2,256 | 2,267,799 | ||||||
| Yale University, Series 2020, 0.87%, 04/15/25 (Call 03/15/25) | 1,475 | 1,394,967 | ||||||
| 17,809,397 | ||||||||
| Computers — 2.8% | ||||||||
| Apple Inc. | ||||||||
| 0.55%, 08/20/25 (Call 07/20/25) | 1,495 | 1,389,483 | ||||||
| 1.13%, 05/11/25 (Call 04/11/25) | 5,732 | 5,454,399 | ||||||
| 2.50%, 02/09/25(a) | 3,724 | 3,689,181 | ||||||
| 2.75%, 01/13/25 (Call 11/13/24) | 3,392 | 3,377,007 | ||||||
| 3.20%, 05/13/25(a) | 4,936 | 4,973,217 | ||||||
| Dell International LLC/EMC Corp., 5.85%, 07/15/25 (Call 06/15/25) | 3,046 | 3,196,747 | ||||||
| Hewlett Packard Enterprise Co., 4.90%, 10/15/25 (Call 07/15/25) | 6,245 | 6,420,672 | ||||||
| HP Inc., 2.20%, 06/17/25 (Call 05/17/25)(a) | 3,438 | 3,293,191 | ||||||
| International Business Machines Corp. | ||||||||
| 4.00%, 07/27/25 | 240 | 243,444 | ||||||
| 7.00%, 10/30/25 | 1,924 | 2,132,081 | ||||||
| Leidos Inc., 3.63%, 05/15/25 (Call 04/15/25) | 1,888 | 1,866,477 | ||||||
| NetApp Inc., 1.88%, 06/22/25 (Call 05/22/25) | 2,556 | 2,421,299 | ||||||
| 38,457,198 | ||||||||
| Cosmetics & Personal Care — 0.5% | ||||||||
| GSK Consumer Healthcare Capital UK PLC, 3.13%, 03/24/25(b) | 2,400 | 2,363,472 | ||||||
| Procter & Gamble Co. (The), 0.55%, 10/29/25(a) | 2,458 | 2,289,848 | ||||||
| Unilever Capital Corp. | ||||||||
| 3.10%, 07/30/25(a) | 825 | 823,276 | ||||||
| 3.38%, 03/22/25 (Call 01/22/25)(a) | 1,258 | 1,261,522 | ||||||
| 6,738,118 | ||||||||
| Distribution & Wholesale — 0.1% | ||||||||
| WW Grainger Inc., 1.85%, 02/15/25 (Call 01/15/25) | 1,770 | 1,708,510 | ||||||
| Diversified Financial Services — 6.2% | ||||||||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||
| 3.50%, 01/15/25 (Call 11/15/24) | 2,890 | 2,783,792 | ||||||
| 4.45%, 10/01/25 (Call 08/01/25) | 1,538 | 1,505,148 | ||||||
| 6.50%, 07/15/25 (Call 06/15/25)(a) | 3,175 | 3,283,680 | ||||||
| Affiliated Managers Group Inc., 3.50%, 08/01/25 | 1,270 | 1,265,034 | ||||||
| Air Lease Corp. | ||||||||
| 2.30%, 02/01/25 (Call 01/01/25)(a) | 1,629 | 1,543,803 | ||||||
| 3.25%, 03/01/25 (Call 01/01/25) | 1,884 | 1,828,949 | ||||||
| 3.38%, 07/01/25 (Call 06/01/25) | 2,350 | 2,268,196 | ||||||
| Ally Financial Inc. | ||||||||
| 4.63%, 03/30/25(a) | 1,699 | 1,719,082 | ||||||
| 5.80%, 05/01/25 (Call 04/01/25)(a) | 2,268 | 2,361,079 | ||||||
| American Express Co. | ||||||||
| 2.25%, 03/04/25 (Call 02/01/25)(a) | 4,415 | 4,280,961 | ||||||
| Security | Par
(000) | Value | ||||||
| Diversified Financial Services (continued) | ||||||||
| 3.95%, 08/01/25 (Call 07/01/25) | $ | 310 | $ | 312,778 | ||||
| 4.20%, 11/06/25 (Call 10/06/25) | 3,248 | 3,334,819 | ||||||
| Ameriprise Financial Inc., 3.00%, 04/02/25 (Call 03/02/25) | 1,596 | 1,573,321 | ||||||
| Capital One Financial Corp. | ||||||||
| 3.20%, 02/05/25 (Call 01/05/25) | 2,698 | 2,649,868 | ||||||
| 4.20%, 10/29/25 (Call 09/29/25)(a) | 4,043 | 4,048,418 | ||||||
| 4.25%, 04/30/25 (Call 03/31/25) | 2,416 | 2,438,614 | ||||||
| Charles Schwab Corp. (The) | ||||||||
| 3.00%, 03/10/25 (Call 12/10/24)(a) | 1,242 | 1,233,045 | ||||||
| 3.63%, 04/01/25 (Call 01/01/25) | 1,170 | 1,175,546 | ||||||
| 3.85%, 05/21/25 (Call 03/21/25) | 2,450 | 2,492,507 | ||||||
| 4.20%, 03/24/25 (Call 02/24/25) | 1,261 | 1,287,027 | ||||||
| CME Group Inc., 3.00%, 03/15/25 (Call 12/15/24)(a) | 2,194 | 2,188,252 | ||||||
| Discover Financial Services, 3.75%, 03/04/25 (Call 12/04/24) | 1,669 | 1,660,171 | ||||||
| Franklin Resources Inc., 2.85%, 03/30/25 | 1,271 | 1,245,199 | ||||||
| Intercontinental Exchange Inc. | ||||||||
| 3.65%, 05/23/25 (Call 04/23/25) | 565 | 569,362 | ||||||
| 3.75%, 12/01/25 (Call 09/01/25)(a) | 3,928 | 3,960,524 | ||||||
| Janus Henderson U.S. Holdings Inc., 4.88%, 08/01/25 (Call 05/01/25) | 927 | 941,804 | ||||||
| Lazard Group LLC, 3.75%, 02/13/25(a) | 1,449 | 1,439,219 | ||||||
| Mastercard Inc., 2.00%, 03/03/25 (Call 02/03/25) | 2,201 | 2,148,308 | ||||||
| Nomura Holdings Inc. | ||||||||
| 1.85%, 07/16/25 | 3,779 | 3,512,467 | ||||||
| 2.65%, 01/16/25 | 3,926 | 3,775,948 | ||||||
| 5.10%, 07/03/25 | 1,205 | 1,231,896 | ||||||
| Radian Group Inc., 6.63%, 03/15/25 (Call 09/15/24) | 1,420 | 1,447,193 | ||||||
| Synchrony Financial | ||||||||
| 4.50%, 07/23/25 (Call 04/23/25) | 2,695 | 2,684,220 | ||||||
| 4.88%, 06/13/25 (Call 05/13/25) | 2,160 | 2,153,542 | ||||||
| Visa Inc., 3.15%, 12/14/25 (Call 09/14/25) | 11,055 | 11,066,166 | ||||||
| Western Union Co. (The), 2.85%, 01/10/25 (Call 12/10/24) | 2,304 | 2,241,953 | ||||||
| 85,651,891 | ||||||||
| Electric — 4.8% | ||||||||
| Ameren Illinois Co., 3.25%, 03/01/25 (Call 12/01/24)(a) | 491 | 489,910 | ||||||
| American Electric Power Co. Inc., Series N, 1.00%, 11/01/25 (Call 10/01/25) | 1,236 | 1,126,639 | ||||||
| Appalachian Power Co., 3.40%, 06/01/25 (Call 03/01/25) | 959 | 952,431 | ||||||
| Arizona Public Service Co., 3.15%, 05/15/25 (Call 02/15/25)(a) | 784 | 775,070 | ||||||
| Avangrid Inc., 3.20%, 04/15/25 (Call 03/15/25) | 2,085 | 2,045,635 | ||||||
| Berkshire Hathaway Energy Co. | ||||||||
| 3.50%, 02/01/25 (Call 11/01/24) | 1,155 | 1,162,519 | ||||||
| 4.05%, 04/15/25 (Call 03/15/25)(a) | 3,226 | 3,299,521 | ||||||
| Connecticut Light & Power Co. (The), Series A, 0.75%, 12/01/25 (Call 11/01/25) | 644 | 587,437 | ||||||
| Constellation Energy Generation LLC, 3.25%, 06/01/25 (Call 05/01/25)(a) | 2,242 | 2,187,273 | ||||||
| Dominion Energy Inc. | ||||||||
| 3.90%, 10/01/25 (Call 07/01/25) | 2,146 | 2,155,550 | ||||||
| Series A, 3.30%, 03/15/25 (Call 02/15/25) | 992 | 984,540 | ||||||
| DTE Electric Co., 3.38%, 03/01/25 (Call 12/01/24)(a) | 1,005 | 1,005,804 | ||||||
| DTE Energy Co., Series F, 1.05%, 06/01/25 (Call 05/01/25) | 2,464 | 2,290,461 | ||||||
| Duke Energy Corp., 0.90%, 09/15/25 (Call 08/15/25) | 1,440 | 1,327,651 | ||||||
| Duke Energy Progress LLC, 3.25%, 08/15/25 (Call 05/15/25)(a) | 1,867 | 1,874,599 | ||||||
| Edison International, 4.95%, 04/15/25 (Call 03/15/25) | 1,059 | 1,076,315 | ||||||
| Entergy Corp., 0.90%, 09/15/25 (Call 08/15/25) | 2,439 | 2,223,856 | ||||||
| Evergy Metro Inc., 3.65%, 08/15/25 (Call 05/15/25)(a) | 1,046 | 1,050,623 | ||||||
3
| Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Corporate ETF |
| July 31, 2022 | (Percentages shown are based on Net Assets) |
| Security | Par
(000) | Value | ||||||
| Electric (continued) | ||||||||
| Eversource Energy | ||||||||
| Series H, 3.15%, 01/15/25 (Call 10/15/24) | $ | 1,063 | $ | 1,047,129 | ||||
| Series Q, 0.80%, 08/15/25 (Call 07/15/25) | 811 | 740,759 | ||||||
| Exelon Corp., 3.95%, 06/15/25 (Call 03/15/25) | 2,976 | 2,994,332 | ||||||
| Florida Power & Light Co. | ||||||||
| 2.85%, 04/01/25 (Call 03/01/25) | 2,925 | 2,912,715 | ||||||
| 3.13%, 12/01/25 (Call 06/01/25)(a) | 1,689 | 1,692,006 | ||||||
| Iberdrola International BV, 5.81%, 03/15/25 | 675 | 712,085 | ||||||
| Louisville Gas & Electric Co., Series 25, 3.30%, 10/01/25 (Call 07/01/25)(a) | 789 | 783,769 | ||||||
| National Rural Utilities Cooperative Finance Corp. | ||||||||
| 1.88%, 02/07/25 | 455 | 439,671 | ||||||
| 2.85%, 01/27/25 (Call 10/27/24) | 1,302 | 1,286,858 | ||||||
| 3.25%, 11/01/25 (Call 08/01/25) | 1,299 | 1,289,569 | ||||||
| 3.45%, 06/15/25 | 70 | 70,092 | ||||||
| NextEra Energy Capital Holdings Inc., 4.45%, 06/20/25 | 1,365 | 1,401,186 | ||||||
| Oncor Electric Delivery Co. LLC | ||||||||
| 0.55%, 10/01/25 (Call 09/01/25) | 2,286 | 2,088,627 | ||||||
| 2.95%, 04/01/25 (Call 01/01/25) | 977 | 967,005 | ||||||
| Pacific Gas and Electric Co. | ||||||||
| 3.45%, 07/01/25(a) | 575 | 551,408 | ||||||
| 3.50%, 06/15/25 (Call 03/15/25) | 2,750 | 2,625,700 | ||||||
| 4.95%, 06/08/25 | 1,735 | 1,720,062 | ||||||
| PECO Energy Co., 3.15%, 10/15/25 (Call 07/15/25)(a) | 370 | 367,850 | ||||||
| Pinnacle West Capital Corp., 1.30%, 06/15/25 (Call 05/15/25)(a) | 1,185 | 1,095,852 | ||||||
| Public Service Electric & Gas Co., 3.00%, 05/15/25 (Call 02/15/25)(a) | 885 | 875,610 | ||||||
| Public Service Enterprise Group Inc., 0.80%, 08/15/25 (Call 07/15/25)(a) | 1,777 | 1,623,805 | ||||||
| Puget Energy Inc., 3.65%, 05/15/25 (Call 02/15/25)(a) | 1,616 | 1,585,474 | ||||||
| Sempra Energy, 3.30%, 04/01/25 (Call 03/01/25) | 1,880 | 1,859,846 | ||||||
| Southern California Edison Co. | ||||||||
| Series C, 4.20%, 06/01/25 | 1,055 | 1,070,392 | ||||||
| Series E, 3.70%, 08/01/25 (Call 06/01/25) | 3,177 | 3,180,304 | ||||||
| Southern Power Co., 4.15%, 12/01/25 (Call 09/01/25) | 1,443 | 1,455,698 | ||||||
| Tucson Electric Power Co., 3.05%, 03/15/25 (Call 12/15/24)(a) | 275 | 271,414 | ||||||
| Virginia Electric & Power Co., Series A, 3.10%, 05/15/25 (Call 02/15/25)(a) | 1,101 | 1,094,009 | ||||||
| Xcel Energy Inc., 3.30%, 06/01/25 (Call 12/01/24)(a) | 1,915 | 1,899,795 | ||||||
| 66,318,856 | ||||||||
| Electrical Components & Equipment — 0.1% | ||||||||
| Emerson Electric Co., 3.15%, 06/01/25 (Call 03/01/25)(a) | 879 | 877,769 | ||||||
| Electronics — 0.6% | ||||||||
| Amphenol Corp., 2.05%, 03/01/25 (Call 02/01/25) | 952 | 916,605 | ||||||
| Arrow Electronics Inc., 4.00%, 04/01/25 (Call 01/01/25) | 1,544 | 1,535,276 | ||||||
| Flex Ltd., 4.75%, 06/15/25 (Call 03/15/25) | 1,713 | 1,715,655 | ||||||
| Honeywell International Inc., 1.35%, 06/01/25 (Call 05/01/25) | 3,717 | 3,555,199 | ||||||
| Legrand France SA, 8.50%, 02/15/25 | 427 | 472,851 | ||||||
| 8,195,586 | ||||||||
| Entertainment — 0.4% | ||||||||
| Magallanes Inc. | ||||||||
| 3.64%, 03/15/25(b) | 4,290 | 4,205,187 | ||||||
| 3.79%, 03/15/25 (Call 03/15/23)(a)(b) | 1,160 | 1,134,445 | ||||||
| 5,339,632 | ||||||||
| Security | Par
(000) | Value | ||||||
| Environmental Control — 0.3% | ||||||||
| Republic Services Inc. | ||||||||
| 0.88%, 11/15/25 (Call 10/15/25) | $ | 787 | $ | 718,366 | ||||
| 3.20%, 03/15/25 (Call 12/15/24) | 1,637 | 1,620,352 | ||||||
| Waste Management Inc. | ||||||||
| 0.75%, 11/15/25 (Call 10/15/25) | 1,198 | 1,101,633 | ||||||
| 3.13%, 03/01/25 (Call 12/01/24) | 1,115 | 1,111,599 | ||||||
| 4,551,950 | ||||||||
| Food — 1.2% | ||||||||
| Campbell Soup Co. | ||||||||
| 3.30%, 03/19/25 (Call 12/19/24)(a) | 870 | 860,909 | ||||||
| 3.95%, 03/15/25 (Call 01/15/25)(a) | 2,469 | 2,486,604 | ||||||
| Conagra Brands Inc., 4.60%, 11/01/25 (Call 09/01/25) | 2,810 | 2,855,775 | ||||||
| General Mills Inc., 4.00%, 04/17/25 (Call 02/17/25)(a) | 2,159 | 2,186,916 | ||||||
| Hershey Co. (The) | ||||||||
| 0.90%, 06/01/25 (Call 05/01/25) | 915 | 858,005 | ||||||
| 3.20%, 08/21/25 (Call 05/21/25)(a) | 290 | 289,011 | ||||||
| JM Smucker Co. (The), 3.50%, 03/15/25 | 3,410 | 3,413,171 | ||||||
| Mondelez International Inc., 1.50%, 05/04/25 (Call 04/04/25) | 1,968 | 1,870,702 | ||||||
| Sysco Corp., 3.75%, 10/01/25 (Call 07/01/25)(a) | 2,130 | 2,139,393 | ||||||
| 16,960,486 | ||||||||
| Forest Products & Paper — 0.1% | ||||||||
| Fibria Overseas Finance Ltd., 4.00%, 01/14/25 (Call 11/14/24) | 825 | 819,308 | ||||||
| Gas — 0.3% | ||||||||
| National Fuel Gas Co., 5.20%, 07/15/25 (Call 04/15/25) | 1,210 | 1,228,840 | ||||||
| NiSource Inc., 0.95%, 08/15/25 (Call 07/15/25) | 3,185 | 2,917,810 | ||||||
| Southern California Gas Co., 3.20%, 06/15/25 (Call 03/15/25)(a) | 730 | 725,255 | ||||||
| 4,871,905 | ||||||||
| Hand & Machine Tools — 0.1% | ||||||||
| Stanley Black & Decker Inc., 2.30%, 02/24/25 (Call 02/24/23)(a) | 975 | 950,411 | ||||||
| Health Care - Products — 1.0% | ||||||||
| Abbott Laboratories | ||||||||
| 2.95%, 03/15/25 (Call 12/15/24)(a) | 2,707 | 2,711,169 | ||||||
| 3.88%, 09/15/25 (Call 06/15/25) | 1,253 | 1,281,167 | ||||||
| Boston Scientific Corp., 1.90%, 06/01/25 (Call 05/01/25) | 1,892 | 1,806,765 | ||||||
| Danaher Corp., 3.35%, 09/15/25 (Call 06/15/25) | 1,298 | 1,296,079 | ||||||
| Stryker Corp. | ||||||||
| 1.15%, 06/15/25 (Call 05/15/25) | 1,801 | 1,686,529 | ||||||
| 3.38%, 11/01/25 (Call 08/01/25) | 1,909 | 1,892,506 | ||||||
| Zimmer Biomet Holdings Inc., 3.55%, 04/01/25 (Call 01/01/25) | 3,045 | 3,006,877 | ||||||
| 13,681,092 | ||||||||
| Health Care - Services — 2.1% | ||||||||
| CommonSpirit Health, 1.55%, 10/01/25 (Call 07/01/25) | 1,333 | 1,236,051 | ||||||
| Elevance Health Inc., 2.38%, 01/15/25 (Call 12/15/24)(a) | 3,651 | 3,558,958 | ||||||
| HCA Inc. | ||||||||
| 5.25%, 04/15/25 | 3,658 | 3,729,807 | ||||||
| 5.38%, 02/01/25 | 6,200 | 6,337,144 | ||||||
| Humana Inc., 4.50%, 04/01/25 (Call 03/01/25)(a) | 1,772 | 1,805,065 | ||||||
| Laboratory Corp. of America Holdings, 3.60%, 02/01/25 (Call 11/01/24) | 3,216 | 3,210,629 | ||||||
| PeaceHealth Obligated Group, Series 2020, 1.38%, 11/15/25 (Call 08/15/25) | 888 | 824,979 | ||||||
| Quest Diagnostics Inc., 3.50%, 03/30/25 (Call 12/30/24) | 1,537 | 1,529,238 | ||||||
| Sutter Health, Series 20A, 1.32%, 08/15/25 (Call 05/15/25) | 270 | 250,876 | ||||||
4
| Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Corporate ETF |
| July 31, 2022 | (Percentages shown are based on Net Assets) |
| Security | Par
(000) | Value | ||||||
| Health Care - Services (continued) | ||||||||
| UnitedHealth Group Inc. | ||||||||
| 3.70%, 12/15/25(a) | $ | 894 | $ | 909,010 | ||||
| 3.75%, 07/15/25 | 5,142 | 5,239,030 | ||||||
| UPMC, Series D-1, 3.60%, 04/03/25 | 960 | 965,213 | ||||||
| 29,596,000 | ||||||||
| Holding Companies - Diversified — 1.1% | ||||||||
| Ares Capital Corp. | ||||||||
| 3.25%, 07/15/25 (Call 06/15/25) | 3,308 | 3,119,444 | ||||||
| 4.25%, 03/01/25 (Call 01/01/25)(a) | 1,855 | 1,809,219 | ||||||
| Blackstone Private Credit Fund | ||||||||
| 2.70%, 01/15/25 (Call 11/15/24)(b) | 1,530 | 1,408,977 | ||||||
| 4.70%, 03/24/25(a)(b) | 2,395 | 2,319,558 | ||||||
| FS KKR Capital Corp., 4.13%, 02/01/25 (Call 01/01/25) | 1,367 | 1,319,797 | ||||||
| Goldman Sachs BDC Inc., 3.75%, 02/10/25 (Call 01/10/25)(a) | 1,200 | 1,179,336 | ||||||
| Oaktree Specialty Lending Corp., 3.50%, 02/25/25 (Call 01/25/25) | 875 | 839,816 | ||||||
| Owl Rock Capital Corp. | ||||||||
| 3.75%, 07/22/25 (Call 06/22/25) | 1,522 | 1,451,014 | ||||||
| 4.00%, 03/30/25 (Call 02/28/25)(a) | 1,047 | 1,011,517 | ||||||
| OWL Rock Core Income Corp., 5.50%, 03/21/25(b) | 870 | 841,438 | ||||||
| 15,300,116 | ||||||||
| Home Builders — 0.3% | ||||||||
| DR Horton Inc., 2.60%, 10/15/25 (Call 09/15/25)(a) | 1,735 | 1,657,428 | ||||||
| Lennar Corp., 4.75%, 05/30/25 (Call 02/28/25)(a) | 1,746 | 1,767,842 | ||||||
| Toll Brothers Finance Corp., 4.88%, 11/15/25 (Call 08/15/25)(a) | 915 | 916,867 | ||||||
| 4,342,137 | ||||||||
| Home Furnishings — 0.2% | ||||||||
| Harman International Industries Inc., 4.15%, 05/15/25 (Call 02/15/25) | 1,090 | 1,097,532 | ||||||
| Whirlpool Corp., 3.70%, 05/01/25 | 1,057 | 1,057,380 | ||||||
| 2,154,912 | ||||||||
| Household Products & Wares — 0.0% | ||||||||
| Kimberly-Clark Corp., 3.05%, 08/15/25 | 720 | 715,788 | ||||||
| Insurance — 1.9% | ||||||||
| Aflac Inc., 3.25%, 03/17/25 | 1,450 | 1,444,475 | ||||||
| Allied World Assurance Co. Holdings Ltd., 4.35%, 10/29/25 (Call 07/29/25) | 1,033 | 1,018,838 | ||||||
| Allstate Corp. (The), 0.75%, 12/15/25 (Call 11/15/25) | 1,632 | 1,486,687 | ||||||
| American International Group Inc. | ||||||||
| 2.50%, 06/30/25 (Call 05/30/25) | 3,516 | 3,391,850 | ||||||
| 3.75%, 07/10/25 (Call 04/10/25) | 2,296 | 2,293,360 | ||||||
| Aon Global Ltd., 3.88%, 12/15/25 (Call 09/15/25) | 2,514 | 2,526,268 | ||||||
| Chubb INA Holdings Inc., 3.15%, 03/15/25(a) | 1,926 | 1,921,050 | ||||||
| CNO Financial Group Inc., 5.25%, 05/30/25 (Call 02/28/25)(a) | 1,262 | 1,284,640 | ||||||
| Corebridge Financial Inc., 3.50%, 04/04/25 (Call 03/04/25)(b) | 2,520 | 2,465,996 | ||||||
| Kemper Corp., 4.35%, 02/15/25 (Call 11/15/24) | 1,109 | 1,108,046 | ||||||
| Lincoln National Corp., 3.35%, 03/09/25(a) | 610 | 605,584 | ||||||
| Marsh & McLennan Companies Inc., 3.50%, 03/10/25 (Call 12/10/24) | 2,194 | 2,193,693 | ||||||
| MetLife Inc. | ||||||||
| 3.00%, 03/01/25(a) | 1,383 | 1,371,162 | ||||||
| 3.60%, 11/13/25 (Call 08/13/25)(a) | 1,523 | 1,533,341 | ||||||
| Principal Financial Group Inc., 3.40%, 05/15/25 (Call 02/15/25)(a) | 1,127 | 1,116,406 | ||||||
| Security | Par
(000) | Value | ||||||
| Insurance (continued) | ||||||||
| RenaissanceRe Finance Inc., 3.70%, 04/01/25 (Call 01/01/25) | $ | 890 | $ | 884,758 | ||||
| 26,646,154 | ||||||||
| Internet — 1.4% | ||||||||
| Alphabet Inc., 0.45%, 08/15/25 (Call 07/15/25) | 2,687 | 2,507,186 | ||||||
| Amazon.com Inc. | ||||||||
| 0.80%, 06/03/25 (Call 05/03/25) | 3,090 | 2,911,985 | ||||||
| 3.00%, 04/13/25 | 3,765 | 3,776,898 | ||||||
| 5.20%, 12/03/25 (Call 09/03/25)(a) | 2,290 | 2,430,308 | ||||||
| Baidu Inc. | ||||||||
| 3.08%, 04/07/25 (Call 03/07/25)(a) | 1,155 | 1,122,856 | ||||||
| 4.13%, 06/30/25(a) | 1,255 | 1,252,992 | ||||||
| Booking Holdings Inc., 3.65%, 03/15/25 (Call 12/15/24)(a) | 1,233 | 1,247,328 | ||||||
| eBay Inc., 1.90%, 03/11/25 (Call 02/11/25) | 2,803 | 2,685,386 | ||||||
| Tencent Music Entertainment Group, 1.38%, 09/03/25 (Call 08/03/25) | 860 | 785,197 | ||||||
| VeriSign Inc., 5.25%, 04/01/25 (Call 01/01/25) | 435 | 443,100 | ||||||
| 19,163,236 | ||||||||
| Iron & Steel — 0.4% | ||||||||
| Nucor Corp. | ||||||||
| 2.00%, 06/01/25 (Call 05/01/25) | 1,688 | 1,620,716 | ||||||
| 3.95%, 05/23/25 | 865 | 875,700 | ||||||
| Reliance Steel & Aluminum Co., 1.30%, 08/15/25 (Call 07/15/25)(a) | 1,574 | 1,447,183 | ||||||
| Steel Dynamics Inc., 2.40%, 06/15/25 (Call 05/15/25) | 1,396 | 1,343,929 | ||||||
| 5,287,528 | ||||||||
| Leisure Time — 0.1% | ||||||||
| Harley-Davidson Inc., 3.50%, 07/28/25 (Call 04/28/25) | 1,652 | 1,626,559 | ||||||
| Lodging — 0.4% | ||||||||
| Hyatt Hotels Corp., 5.63%, 04/23/25 (Call 03/23/25) | 1,579 | 1,614,859 | ||||||
| Marriott International Inc./MD | ||||||||
| 3.75%, 03/15/25 (Call 12/15/24) | 1,031 | 1,025,371 | ||||||
| 3.75%, 10/01/25 (Call 07/01/25) | 1,334 | 1,320,993 | ||||||
| Series EE, 5.75%, 05/01/25 (Call 04/01/25) | 1,541 | 1,608,080 | ||||||
| 5,569,303 | ||||||||
| Machinery — 1.8% | ||||||||
| Caterpillar Financial Services Corp. | ||||||||
| 0.80%, 11/13/25(a) | 2,603 | 2,404,313 | ||||||
| 1.45%, 05/15/25 | 1,556 | 1,485,949 | ||||||
| 3.40%, 05/13/25 | 2,590 | 2,606,628 | ||||||
| CNH Industrial Capital LLC, 3.95%, 05/23/25 | 1,475 | 1,471,711 | ||||||
| Deere & Co., 2.75%, 04/15/25 (Call 03/15/25) | 1,712 | 1,693,853 | ||||||
| Dover Corp., 3.15%, 11/15/25 (Call 08/15/25) | 1,524 | 1,505,316 | ||||||
| John Deere Capital Corp. | ||||||||
| 1.25%, 01/10/25(a) | 1,825 | 1,748,788 | ||||||
| 2.05%, 01/09/25 | 1,237 | 1,207,968 | ||||||
| 2.13%, 03/07/25(a) | 1,080 | 1,051,898 | ||||||
| 3.40%, 06/06/25 | 360 | 362,250 | ||||||
| 3.40%, 09/11/25 | 851 | 855,161 | ||||||
| 3.45%, 03/13/25(a) | 2,058 | 2,079,259 | ||||||
| Otis Worldwide Corp., 2.06%, 04/05/25 (Call 03/05/25) | 3,938 | 3,762,601 | ||||||
| Rockwell Automation Inc., 2.88%, 03/01/25 (Call 12/01/24)(a) | 832 | 821,974 | ||||||
| Westinghouse Air Brake Technologies Corp., 3.20%, 06/15/25 (Call 05/15/25)(a) | 1,751 | 1,690,591 | ||||||
| 24,748,260 | ||||||||
| Manufacturing — 0.5% | ||||||||
| 3M Co. | ||||||||
| 2.00%, 02/14/25 (Call 01/14/25) | 2,349 | 2,285,577 | ||||||
5
| Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Corporate ETF |
| July 31, 2022 | (Percentages shown are based on Net Assets) |
| Security | Par
(000) | Value | ||||||
| Manufacturing (continued) | ||||||||
| 2.65%, 04/15/25 (Call 03/15/25) | $ | 1,619 | $ | 1,600,803 | ||||
| 3.00%, 08/07/25(a) | 1,640 | 1,633,489 | ||||||
| GE Capital International Funding Co. Unlimited Co., 3.37%, 11/15/25 | 610 | 604,278 | ||||||
| Textron Inc., 3.88%, 03/01/25 (Call 12/01/24)(a) | 1,214 | 1,214,971 | ||||||
| 7,339,118 | ||||||||
| Media — 3.1% | ||||||||
| Charter Communications Operating LLC/Charter Communications Operating Capital, 4.91%, 07/23/25 (Call 04/23/25) | 11,286 | 11,431,364 | ||||||
| Comcast Corp. | ||||||||
| 3.38%, 02/15/25 (Call 11/15/24) | 2,660 | 2,663,777 | ||||||
| 3.38%, 08/15/25 (Call 05/15/25) | 4,312 | 4,315,838 | ||||||
| 3.95%, 10/15/25 (Call 08/15/25)(a) | 8,103 | 8,243,344 | ||||||
| Discovery Communications LLC | ||||||||
| 3.45%, 03/15/25 (Call 12/15/24) | 813 | 794,195 | ||||||
| 3.95%, 06/15/25 (Call 03/15/25) | 1,640 | 1,625,715 | ||||||
| Fox Corp., 3.05%, 04/07/25 (Call 03/07/25) | 2,088 | 2,043,129 | ||||||
| Grupo Televisa SAB, 6.63%, 03/18/25 | 554 | 588,847 | ||||||
| Paramount Global, 4.75%, 05/15/25 (Call 04/15/25) | 1,763 | 1,794,752 | ||||||
| TWDC Enterprises 18 Corp., 3.15%, 09/17/25(a) | 2,241 | 2,228,540 | ||||||
| Walt Disney Co. (The) | ||||||||
| 3.35%, 03/24/25(a) | 5,138 | 5,156,702 | ||||||
| 3.70%, 10/15/25 (Call 07/15/25)(a) | 1,618 | 1,635,135 | ||||||
| 42,521,338 | ||||||||
| Metal Fabricate & Hardware — 0.2% | ||||||||
| Precision Castparts Corp., 3.25%, 06/15/25 (Call 03/15/25)(a) | 2,233 | 2,243,138 | ||||||
| Mining — 0.1% | ||||||||
| Southern Copper Corp., 3.88%, 04/23/25 | 944 | 934,985 | ||||||
| Office & Business Equipment — 0.1% | ||||||||
| CDW LLC/CDW Finance Corp., 4.13%, 05/01/25 (Call 08/29/22)(a) | 1,898 | 1,866,873 | ||||||
| Oil & Gas — 4.1% | ||||||||
| BP Capital Markets America Inc. | ||||||||
| 3.19%, 04/06/25 (Call 08/24/22)(a) | 2,433 | 2,433,000 | ||||||
| 3.80%, 09/21/25 (Call 07/21/25) | 2,633 | 2,674,522 | ||||||
| Canadian Natural Resources Ltd. | ||||||||
| 2.05%, 07/15/25 (Call 06/15/25) | 1,832 | 1,729,371 | ||||||
| 3.90%, 02/01/25 (Call 11/01/24) | 1,578 | 1,572,177 | ||||||
| Cenovus Energy Inc., 5.38%, 07/15/25 (Call 04/15/25)(a) | 2,181 | 2,263,747 | ||||||
| Chevron Corp. | ||||||||
| 1.55%, 05/11/25 (Call 04/11/25) | 6,201 | 5,960,897 | ||||||
| 3.33%, 11/17/25 (Call 08/17/25) | 1,789 | 1,796,603 | ||||||
| Chevron USA Inc., 0.69%, 08/12/25 (Call 07/12/25)(a) | 1,824 | 1,698,053 | ||||||
| ConocoPhillips Co., 2.40%, 03/07/25 (Call 03/07/23) | 585 | 571,539 | ||||||
| Devon Energy Corp., 5.85%, 12/15/25 (Call 09/15/25) | 1,625 | 1,701,993 | ||||||
| EOG Resources Inc., 3.15%, 04/01/25 (Call 01/01/25) | 1,808 | 1,799,159 | ||||||
| EQT Corp., 6.13%, 02/01/25 (Call 01/01/25)(a) | 2,890 | 3,011,033 | ||||||
| Exxon Mobil Corp. | ||||||||
| 2.71%, 03/06/25 (Call 12/06/24)(a) | 4,068 | 4,026,303 | ||||||
| 2.99%, 03/19/25 (Call 02/19/25) | 5,187 | 5,164,852 | ||||||
| Marathon Petroleum Corp., 4.70%, 05/01/25 (Call 04/01/25) | 3,696 | 3,768,553 | ||||||
| Phillips 66, 3.85%, 04/09/25 (Call 03/09/25)(a) | 2,072 | 2,094,585 | ||||||
| Phillips 66 Co., 3.61%, 02/15/25 (Call 11/15/24)(b) | 1,397 | 1,390,518 | ||||||
| Shell International Finance BV, 3.25%, 05/11/25(a) | 7,600 | 7,609,196 | ||||||
| TotalEnergies Capital International SA, 2.43%, 01/10/25 (Call 10/10/24) | 3,380 | 3,324,331 | ||||||
| Security | Par
(000) | Value | ||||||
| Oil & Gas (continued) | ||||||||
| Valero Energy Corp., 2.85%, 04/15/25 (Call 03/15/25) | $ | 1,257 | $ | 1,225,236 | ||||
| 55,815,668 | ||||||||
| Oil & Gas Services — 0.2% | ||||||||
| Halliburton Co., 3.80%, 11/15/25 (Call 08/15/25) | 1,657 | 1,659,452 | ||||||
| Schlumberger Finance Canada Ltd., 1.40%, 09/17/25 (Call 08/17/25)(a) | 1,650 | 1,557,650 | ||||||
| 3,217,102 | ||||||||
| Packaging & Containers — 0.3% | ||||||||
| Amcor Flexibles North America Inc., 4.00%, 05/17/25 (Call 04/17/25) | 725 | 722,230 | ||||||
| Sonoco Products Co., 1.80%, 02/01/25 (Call 02/01/23) | 1,760 | 1,672,299 | ||||||
| WRKCo Inc., 3.75%, 03/15/25 (Call 01/15/25) | 1,729 | 1,725,231 | ||||||
| 4,119,760 | ||||||||
| Pharmaceuticals — 5.7% | ||||||||
| AbbVie Inc. | ||||||||
| 3.60%, 05/14/25 (Call 02/14/25) | 9,704 | 9,709,337 | ||||||
| 3.80%, 03/15/25 (Call 12/15/24) | 7,263 | 7,287,041 | ||||||
| AmerisourceBergen Corp., 3.25%, 03/01/25 (Call 12/01/24)(a) | 1,445 | 1,429,914 | ||||||
| AstraZeneca PLC, 3.38%, 11/16/25(a) | 5,540 | 5,556,011 | ||||||
| Bristol-Myers Squibb Co., 0.75%, 11/13/25 (Call 10/13/25) | 2,173 | 2,016,218 | ||||||
| Cardinal Health Inc., 3.75%, 09/15/25 (Call 06/15/25) | 1,449 | 1,453,304 | ||||||
| Cigna Corp. | ||||||||
| 3.25%, 04/15/25 (Call 01/15/25)(a) | 3,019 | 2,995,150 | ||||||
| 4.13%, 11/15/25 (Call 09/15/25) | 5,789 | 5,877,398 | ||||||
| CVS Health Corp. | ||||||||
| 3.88%, 07/20/25 (Call 04/20/25) | 7,201 | 7,290,724 | ||||||
| 4.10%, 03/25/25 (Call 01/25/25) | 2,757 | 2,800,312 | ||||||
| Eli Lilly & Co., 2.75%, 06/01/25 (Call 03/01/25)(a) | 1,560 | 1,553,245 | ||||||
| GlaxoSmithKline Capital Inc., 3.63%, 05/15/25(a) | 2,966 | 3,012,329 | ||||||
| Johnson & Johnson | ||||||||
| 0.55%, 09/01/25 (Call 08/01/25)(a) | 2,440 | 2,283,986 | ||||||
| 2.63%, 01/15/25 (Call 11/15/24) | 1,834 | 1,830,057 | ||||||
| McKesson Corp., 0.90%, 12/03/25 (Call 11/03/25) | 1,203 | 1,098,423 | ||||||
| Mead Johnson Nutrition Co., 4.13%, 11/15/25 (Call 08/15/25)(a) | 2,417 | 2,456,349 | ||||||
| Merck & Co. Inc., 2.75%, 02/10/25 (Call 11/10/24) | 6,668 | 6,618,924 | ||||||
| Novartis Capital Corp. | ||||||||
| 1.75%, 02/14/25 (Call 01/14/25) | 2,446 | 2,381,181 | ||||||
| 3.00%, 11/20/25 (Call 08/20/25) | 5,017 | 5,013,137 | ||||||
| Pfizer Inc., 0.80%, 05/28/25 (Call 04/28/25) | 2,154 | 2,038,287 | ||||||
| Viatris Inc., 1.65%, 06/22/25 (Call 05/22/25) | 2,355 | 2,161,655 | ||||||
| Zoetis Inc., 4.50%, 11/13/25 (Call 08/13/25)(a) | 1,974 | 2,026,429 | ||||||
| 78,889,411 | ||||||||
| Pipelines — 3.4% | ||||||||
| Cheniere Corpus Christi Holdings LLC, 5.88%, 03/31/25 (Call 10/02/24)(a) | 3,703 | 3,812,794 | ||||||
| Columbia Pipeline Group Inc., 4.50%, 06/01/25 (Call 03/01/25) | 2,812 | 2,843,719 | ||||||
| Enbridge Energy Partners LP, 5.88%, 10/15/25 (Call 07/15/25) | 1,195 | 1,254,499 | ||||||
| Enbridge Inc. | ||||||||
| 2.50%, 01/15/25 (Call 12/15/24) | 1,390 | 1,349,871 | ||||||
| 2.50%, 02/14/25 | 1,570 | 1,520,278 | ||||||
| Energy Transfer LP | ||||||||
| 2.90%, 05/15/25 (Call 04/15/25) | 2,809 | 2,703,045 | ||||||
| 4.05%, 03/15/25 (Call 12/15/24) | 2,589 | 2,568,728 | ||||||
| 5.95%, 12/01/25 (Call 09/01/25) | 1,164 | 1,209,687 | ||||||
| Enterprise Products Operating LLC, 3.75%, 02/15/25 (Call 11/15/24)(a) | 3,287 | 3,293,344 | ||||||
6
| Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Corporate ETF |
| July 31, 2022 | (Percentages shown are based on Net Assets) |
| Security | Par
(000) | Value | ||||||
| Pipelines (continued) | ||||||||
| Kinder Morgan Inc., 4.30%, 06/01/25 (Call 03/01/25)(a) | $ | 4,229 | $ | 4,270,571 | ||||
| MPLX LP | ||||||||
| 4.00%, 02/15/25 (Call 11/15/24)(a) | 1,336 | 1,328,345 | ||||||
| 4.88%, 06/01/25 (Call 03/01/25) | 3,495 | 3,557,176 | ||||||
| ONEOK Inc., 2.20%, 09/15/25 (Call 08/15/25) | 1,126 | 1,057,618 | ||||||
| ONEOK Partners LP, 4.90%, 03/15/25 (Call 12/15/24) | 1,429 | 1,447,477 | ||||||
| Plains All American Pipeline LP/PAA Finance Corp., 4.65%, 10/15/25 (Call 07/15/25) | 2,830 | 2,838,886 | ||||||
| Sabine Pass Liquefaction LLC, 5.63%, 03/01/25 (Call 12/01/24) | 5,141 | 5,290,757 | ||||||
| Spectra Energy Partners LP, 3.50%, 03/15/25 (Call 12/15/24) | 1,534 | 1,519,059 | ||||||
| TC PipeLines LP, 4.38%, 03/13/25 (Call 12/13/24)(a) | 1,032 | 1,037,820 | ||||||
| Williams Companies Inc. (The) | ||||||||
| 3.90%, 01/15/25 (Call 10/15/24)(a) | 2,222 | 2,218,689 | ||||||
| 4.00%, 09/15/25 (Call 06/15/25) | 2,138 | 2,132,869 | ||||||
| 47,255,232 | ||||||||
| Real Estate — 0.2% | ||||||||
| Brookfield Asset Management Inc., 4.00%, 01/15/25 (Call 10/15/24) | 2,240 | 2,244,368 | ||||||
| Real Estate Investment Trusts — 4.1% | ||||||||
| Alexandria Real Estate Equities Inc., 3.45%, 04/30/25 (Call 02/28/25)(a) | 1,651 | 1,644,462 | ||||||
| American Tower Corp. | ||||||||
| 1.30%, 09/15/25 (Call 08/15/25) | 1,260 | 1,161,292 | ||||||
| 2.40%, 03/15/25 (Call 02/15/25) | 1,887 | 1,810,746 | ||||||
| 2.95%, 01/15/25 (Call 12/15/24) | 1,756 | 1,718,141 | ||||||
| 4.00%, 06/01/25 (Call 03/01/25)(a) | 2,401 | 2,403,977 | ||||||
| AvalonBay Communities Inc. | ||||||||
| 3.45%, 06/01/25 (Call 03/03/25)(a) | 1,179 | 1,172,351 | ||||||
| 3.50%, 11/15/25 (Call 08/15/25) | 986 | 977,008 | ||||||
| Boston Properties LP, 3.20%, 01/15/25 (Call 10/15/24)(a) | 2,273 | 2,234,245 | ||||||
| Brixmor Operating Partnership LP, 3.85%, 02/01/25 (Call 11/01/24) | 2,085 | 2,058,979 | ||||||
| Crown Castle International Corp., 1.35%, 07/15/25 (Call 06/15/25) | 1,794 | 1,662,948 | ||||||
| CubeSmart LP, 4.00%, 11/15/25 (Call 08/15/25) | 986 | 980,281 | ||||||
| EPR Properties, 4.50%, 04/01/25 (Call 01/01/25)(a) | 700 | 685,286 | ||||||
| Equinix Inc. | ||||||||
| 1.00%, 09/15/25 (Call 08/15/25) | 1,885 | 1,721,834 | ||||||
| 1.25%, 07/15/25 (Call 06/15/25) | 1,752 | 1,620,775 | ||||||
| ERP Operating LP, 3.38%, 06/01/25 (Call 03/01/25)(a) | 1,229 | 1,215,579 | ||||||
| Essex Portfolio LP, 3.50%, 04/01/25 (Call 01/01/25) | 1,436 | 1,416,987 | ||||||
| GLP Capital LP/GLP Financing II Inc., 5.25%, 06/01/25 (Call 03/01/25) | 2,221 | 2,205,120 | ||||||
| Healthpeak Properties Inc. | ||||||||
| 3.40%, 02/01/25 (Call 11/01/24)(a) | 241 | 237,628 | ||||||
| 4.00%, 06/01/25 (Call 03/01/25) | 987 | 987,661 | ||||||
| Host Hotels & Resorts LP, Series E, 4.00%, 06/15/25 (Call 03/15/25) | 1,232 | 1,210,526 | ||||||
| Kilroy Realty LP, 4.38%, 10/01/25 (Call 07/01/25) | 1,070 | 1,063,612 | ||||||
| Kimco Realty Corp., 3.30%, 02/01/25 (Call 12/01/24) | 1,667 | 1,645,879 | ||||||
| Kite Realty Group Trust, 4.00%, 03/15/25 (Call 12/15/24) | 840 | 826,232 | ||||||
| Mid-America Apartments LP, 4.00%, 11/15/25 (Call 08/15/25) | 1,198 | 1,196,670 | ||||||
| National Retail Properties Inc., 4.00%, 11/15/25 (Call 08/15/25) | 963 | 962,625 | ||||||
| Office Properties Income Trust, 4.50%, 02/01/25 (Call 11/01/24) | 1,807 | 1,700,080 | ||||||
| Omega Healthcare Investors Inc., 4.50%, 01/15/25 (Call 10/15/24) | 1,191 | 1,188,666 | ||||||
| Security | Par
(000) | Value | ||||||
| Real Estate Investment Trusts (continued) | ||||||||
| Realty Income Corp. | ||||||||
| 3.88%, 04/15/25 (Call 02/15/25)(a) | $ | 1,396 | $ | 1,405,200 | ||||
| 4.63%, 11/01/25 (Call 09/01/25) | 1,538 | 1,577,880 | ||||||
| Simon Property Group LP, 3.50%, 09/01/25 (Call 06/01/25)(a) | 3,193 | 3,175,087 | ||||||
| SITE Centers Corp., 3.63%, 02/01/25 (Call 11/01/24) | 1,418 | 1,384,805 | ||||||
| Ventas Realty LP | ||||||||
| 2.65%, 01/15/25 (Call 12/15/24) | 1,145 | 1,104,456 | ||||||
| 3.50%, 02/01/25 (Call 11/01/24) | 1,730 | 1,703,618 | ||||||
| VICI Properties LP, 4.38%, 05/15/25 | 1,695 | 1,678,101 | ||||||
| Vornado Realty LP, 3.50%, 01/15/25 (Call 11/15/24) | 1,323 | 1,282,768 | ||||||
| Welltower Inc., 4.00%, 06/01/25 (Call 03/01/25) | 3,626 | 3,626,834 | ||||||
| WP Carey Inc., 4.00%, 02/01/25 (Call 11/01/24) | 1,278 | 1,277,387 | ||||||
| 55,925,726 | ||||||||
| Retail — 2.8% | ||||||||
| AutoNation Inc., 4.50%, 10/01/25 (Call 07/01/25) | 1,094 | 1,083,519 | ||||||
| AutoZone Inc. | ||||||||
| 3.25%, 04/15/25 (Call 01/15/25) | 1,458 | 1,440,606 | ||||||
| 3.63%, 04/15/25 (Call 03/15/25) | 1,559 | 1,558,236 | ||||||
| Dollar General Corp., 4.15%, 11/01/25 (Call 08/01/25)(a) | 1,282 | 1,298,987 | ||||||
| Dollar Tree Inc., 4.00%, 05/15/25 (Call 03/15/25) | 3,493 | 3,516,752 | ||||||
| Genuine Parts Co., 1.75%, 02/01/25 (Call 02/01/23) | 1,540 | 1,468,020 | ||||||
| Home Depot Inc. (The) | ||||||||
| 2.70%, 04/15/25 (Call 03/15/25)(a) | 780 | 771,709 | ||||||
| 3.35%, 09/15/25 (Call 06/15/25)(a) | 3,431 | 3,453,713 | ||||||
| Lowe’s Companies Inc. | ||||||||
| 3.38%, 09/15/25 (Call 06/15/25)(a) | 2,410 | 2,403,686 | ||||||
| 4.00%, 04/15/25 (Call 03/15/25)(a) | 2,842 | 2,883,408 | ||||||
| McDonald’s Corp. | ||||||||
| 1.45%, 09/01/25 (Call 08/01/25) | 1,163 | 1,102,338 | ||||||
| 3.30%, 07/01/25 (Call 06/01/25) | 2,300 | 2,300,092 | ||||||
| 3.38%, 05/26/25 (Call 02/26/25) | 1,932 | 1,935,188 | ||||||
| Ross Stores Inc., 4.60%, 04/15/25 (Call 03/15/25) | 2,427 | 2,485,588 | ||||||
| Starbucks Corp., 3.80%, 08/15/25 (Call 06/15/25)(a) | 4,519 | 4,563,557 | ||||||
| Target Corp., 2.25%, 04/15/25 (Call 03/15/25) | 4,510 | 4,420,477 | ||||||
| Walmart Inc., 3.55%, 06/26/25 (Call 04/26/25)(a) | 1,830 | 1,866,783 | ||||||
| 38,552,659 | ||||||||
| Semiconductors — 2.2% | ||||||||
| Analog Devices Inc., 2.95%, 04/01/25 (Call 03/01/25) | 1,263 | 1,253,831 | ||||||
| Applied Materials Inc., 3.90%, 10/01/25 (Call 07/01/25)(a) | 2,328 | 2,375,584 | ||||||
| Broadcom Corp./Broadcom Cayman Finance Ltd., 3.13%, 01/15/25 (Call 11/15/24)(a) | 1,518 | 1,495,868 | ||||||
| Broadcom Inc., 3.15%, 11/15/25 (Call 10/15/25)(a) | 2,356 | 2,307,631 | ||||||
| Intel Corp. | ||||||||
| 3.40%, 03/25/25 (Call 02/25/25)(a) | 3,921 | 3,935,037 | ||||||
| 3.70%, 07/29/25 (Call 04/29/25) | 6,113 | 6,200,110 | ||||||
| Lam Research Corp., 3.80%, 03/15/25 (Call 12/15/24)(a) | 1,410 | 1,423,621 | ||||||
| Microchip Technology Inc., 4.25%, 09/01/25 (Call 09/01/22)(a) | 2,840 | 2,825,999 | ||||||
| NXP BV/NXP Funding LLC/NXP USA Inc., 2.70%, 05/01/25 (Call 04/01/25) | 1,950 | 1,876,816 | ||||||
| QUALCOMM Inc., 3.45%, 05/20/25 (Call 02/20/25)(a) | 4,077 | 4,102,114 | ||||||
| Texas Instruments Inc., 1.38%, 03/12/25 (Call 02/12/25) | 2,428 | 2,326,267 | ||||||
| 30,122,878 | ||||||||
| Shipbuilding — 0.1% | ||||||||
| Huntington Ingalls Industries Inc., 3.84%, 05/01/25 (Call 04/01/25) | 1,484 | 1,467,765 | ||||||
| Software — 3.1% | ||||||||
| Adobe Inc. | ||||||||
| 1.90%, 02/01/25 (Call 01/01/25)(a) | 1,522 | 1,481,454 | ||||||
7
| Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Corporate ETF |
| July 31, 2022 | (Percentages shown are based on Net Assets) |
| Security | Par
(000) | Value | ||||||
| Software (continued) | ||||||||
| 3.25%, 02/01/25 (Call 11/01/24) | $ | 2,886 | $ | 2,900,863 | ||||
| Autodesk Inc., 4.38%, 06/15/25 (Call 03/15/25)(a) | 848 | 865,036 | ||||||
| Fiserv Inc., 3.85%, 06/01/25 (Call 03/01/25) | 2,672 | 2,670,397 | ||||||
| Intuit Inc., 0.95%, 07/15/25 (Call 06/15/25) | 1,428 | 1,338,393 | ||||||
| Microsoft Corp. | ||||||||
| 2.70%, 02/12/25 (Call 11/12/24)(a) | 4,414 | 4,404,731 | ||||||
| 3.13%, 11/03/25 (Call 08/03/25) | 7,575 | 7,621,586 | ||||||
| Oracle Corp. | ||||||||
| 2.50%, 04/01/25 (Call 03/01/25)(a) | 6,057 | 5,853,122 | ||||||
| 2.95%, 05/15/25 (Call 02/15/25)(a) | 9,635 | 9,393,643 | ||||||
| Roper Technologies Inc. | ||||||||
| 1.00%, 09/15/25 (Call 08/15/25) | 1,819 | 1,669,769 | ||||||
| 3.85%, 12/15/25 (Call 09/15/25) | 981 | 980,980 | ||||||
| Take-Two Interactive Software Inc., 3.55%, 04/14/25 | 1,605 | 1,593,637 | ||||||
| VMware Inc., 4.50%, 05/15/25 (Call 04/15/25) | 2,262 | 2,287,402 | ||||||
| 43,061,013 | ||||||||
| Telecommunications — 1.9% | ||||||||
| Cisco Systems Inc., 3.50%, 06/15/25(a) | 1,575 | 1,601,507 | ||||||
| Juniper Networks Inc., 1.20%, 12/10/25 (Call 11/10/25)(a) | 1,409 | 1,278,823 | ||||||
| Rogers Communications Inc. | ||||||||
| 2.95%, 03/15/25 (Call 03/15/23)(b) | 1,295 | 1,272,830 | ||||||
| 3.63%, 12/15/25 (Call 09/15/25)(a) | 2,532 | 2,501,920 | ||||||
| T-Mobile USA Inc., 3.50%, 04/15/25 (Call 03/15/25) | 8,294 | 8,202,600 | ||||||
| Verizon Communications Inc. | ||||||||
| 0.85%, 11/20/25 (Call 10/20/25) | 3,482 | 3,209,882 | ||||||
| 3.38%, 02/15/25 | 4,063 | 4,077,017 | ||||||
| Vodafone Group PLC, 4.13%, 05/30/25 | 4,644 | 4,700,935 | ||||||
| 26,845,514 | ||||||||
| Transportation — 1.3% | ||||||||
| Burlington Northern Santa Fe LLC | ||||||||
| 3.00%, 04/01/25 (Call 01/01/25)(a) | 1,051 | 1,047,826 | ||||||
| 3.65%, 09/01/25 (Call 06/01/25)(a) | 1,176 | 1,192,393 | ||||||
| 7.00%, 12/15/25 | 397 | 442,064 | ||||||
| Canadian Pacific Railway Co., 2.90%, 02/01/25 (Call 11/01/24) | 2,273 | 2,230,472 | ||||||
| CSX Corp., 3.35%, 11/01/25 (Call 08/01/25) | 1,719 | 1,715,682 | ||||||
| Norfolk Southern Corp., 3.65%, 08/01/25 (Call 06/01/25) | 872 | 873,648 | ||||||
| Ryder System Inc. | ||||||||
| 3.35%, 09/01/25 (Call 08/01/25)(a) | 1,640 | 1,605,511 | ||||||
| 4.63%, 06/01/25 (Call 05/01/25) | 1,081 | 1,096,361 | ||||||
| Security | Par/ Shares (000) | Value | ||||||
| Transportation (continued) | ||||||||
| Union Pacific Corp. | ||||||||
| 3.25%, 01/15/25 (Call 10/15/24)(a) | $ | 999 | $ | 1,001,557 | ||||
| 3.25%, 08/15/25 (Call 05/15/25) | 1,217 | 1,214,396 | ||||||
| 3.75%, 07/15/25 (Call 05/15/25)(a) | 1,384 | 1,401,342 | ||||||
| United Parcel Service Inc., 3.90%, 04/01/25 (Call 03/01/25)(a) | 3,462 | 3,531,067 | ||||||
| 17,352,319 | ||||||||
| Trucking & Leasing — 0.1% | ||||||||
| GATX Corp., 3.25%, 03/30/25 (Call 12/30/24) | 1,080 | 1,060,106 | ||||||
| Water — 0.1% | ||||||||
| American Water Capital Corp., 3.40%, 03/01/25 (Call 12/01/24)(a) | 1,592 | 1,593,751 | ||||||
| Total Long-Term Investments — 98.9% | ||||||||
| (Cost: $1,412,934,905) | 1,360,141,039 | |||||||
| Short-Term Securities | ||||||||
| Money Market Funds — 7.1% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%(c)(d)(e) | 91,064 | 91,055,381 | ||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%(c)(d) | 5,820 | 5,820,000 | ||||||
| Total Short-Term Securities — 7.1% | ||||||||
| (Cost: $96,854,748) | 96,875,381 | |||||||
| Total Investments in Securities — 106.0% | ||||||||
| (Cost: $1,509,789,653) | 1,457,016,420 | |||||||
| Liabilities in Excess of Other Assets — (6.0)% | (82,066,623 | ) | ||||||
| Net Assets — 100.0% | $ | 1,374,949,797 | ||||||
| (a) | All or a portion of this security is on loan. |
| (b) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
| (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 period ended July 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value
at 10/31/21 | Purchases at Cost | Proceeds from Sale | Net
Realized Gain (Loss) | Change
in Unrealized Appreciation (Depreciation) | Value
at 07/31/22 | Shares Held at 07/31/22 (000) | Income | Capital
Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 60,598,916 | $ | 30,480,773 | (a) | $ | — | $ | (24,827 | ) | $ | 519 | $ | 91,055,381 | 91,064 | $ | 96,343 | (b) | $ | — | ||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 11,130,000 | — | (5,310,000 | )(a) | — | — | 5,820,000 | 5,820 | 22,619 | — | ||||||||||||||||||||||||||
| $ | (24,827 | ) | $ | 519 | $ | 96,875,381 | $ | 118,962 | $ | — | ||||||||||||||||||||||||||
| (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. |
8
| Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Corporate ETF |
| July 31, 2022 |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
| ● | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access; |
| ● | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and |
| ● | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent 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 | ||||||||||||||||
| Corporate Bonds & Notes | $ | — | $ | 1,360,141,039 | $ | — | $ | 1,360,141,039 | ||||||||
| Money Market Funds | 96,875,381 | — | — | 96,875,381 | ||||||||||||
| $ | 96,875,381 | $ | 1,360,141,039 | $ | — | $ | 1,457,016,420 | |||||||||
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