NPORT-EX 2 251710BR123122.htm
Schedule of Investments (unaudited)
December 31, 2022
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Common Stocks
Aerospace & Defense — 2.7%
Boeing Co.(a)
      894,103 $  170,317,680
General Dynamics Corp.
      168,889  41,903,050
Howmet Aerospace, Inc.
      590,115  23,256,432
Huntington Ingalls Industries, Inc.
       63,387  14,622,113
L3Harris Technologies, Inc.
      152,162  31,681,650
Lockheed Martin Corp.(b)
      107,959  52,520,974
Northrop Grumman Corp.(b)
       64,721  35,312,425
Raytheon Technologies Corp.
    2,346,179  236,776,385
Textron, Inc.(b)
      334,460  23,679,768
TransDigm Group, Inc.
       43,489  27,382,849
      657,453,326
Air Freight & Logistics — 1.1%
CH Robinson Worldwide, Inc.
       85,995  7,873,702
FedEx Corp.
      382,071  66,174,697
United Parcel Service, Inc., Class B(b)
    1,164,786  202,486,399
      276,534,798
Airlines — 0.4%
Alaska Air Group, Inc.(a)
      209,490  8,995,501
American Airlines Group, Inc.(a)
    1,076,406  13,691,884
Delta Air Lines, Inc.(a)
    1,024,479  33,664,380
Southwest Airlines Co.
      948,467  31,934,884
United Airlines Holdings, Inc.(a)
      519,268  19,576,403
      107,863,052
Auto Components — 0.2%
Aptiv PLC(a)
  432,501  40,278,818
BorgWarner, Inc.(b)
  371,901  14,969,015
      55,247,833
Automobiles — 0.6%
Ford Motor Co.
  6,303,531  73,310,066
General Motors Co.(b)
  2,267,399  76,275,302
      149,585,368
Banks — 8.0%
Bank of America Corp.
  11,139,129  368,927,952
Citigroup, Inc.
  3,091,164  139,813,348
Citizens Financial Group, Inc.
  787,493  31,003,599
Comerica, Inc.
  207,989  13,904,065
Fifth Third Bancorp
  1,096,594  35,979,249
First Republic Bank
  292,209  35,617,355
Huntington Bancshares, Inc.
  2,306,257  32,518,224
JPMorgan Chase & Co.
  4,681,326  627,765,816
KeyCorp
  1,493,954  26,024,679
M&T Bank Corp.
  275,599  39,978,391
PNC Financial Services Group, Inc.
  643,681  101,662,977
Regions Financial Corp.
  1,493,965  32,209,885
Signature Bank
  99,940  11,515,087
SVB Financial Group(a)
  93,883  21,606,234
Truist Financial Corp.
  2,117,490  91,115,595
U.S. Bancorp
  2,157,923  94,107,022
Wells Fargo & Co.
  6,081,457  251,103,359
Zions Bancorp N.A.
  237,642  11,682,481
      1,966,535,318
Beverages — 0.9%
Brown-Forman Corp., Class B, NVS
  130,685  8,583,391
Coca-Cola Co.
  2,174,062  138,292,084
Constellation Brands, Inc., Class A
  114,327  26,495,282
Keurig Dr Pepper, Inc.
  680,417  24,263,670
Molson Coors Beverage Co., Class B(b)
  298,603  15,384,027
      213,018,454
Security   Shares Value
Biotechnology — 0.1%
Biogen, Inc.(a)
      121,930 $  33,764,856
Building Products — 0.9%
A O Smith Corp.
      201,503  11,534,032
Allegion PLC
      139,524  14,686,296
Carrier Global Corp.
    1,334,663  55,054,849
Johnson Controls International PLC
    1,099,140  70,344,960
Masco Corp.
      103,890  4,848,546
Trane Technologies PLC
      367,560  61,783,160
      218,251,843
Capital Markets — 5.2%
Bank of New York Mellon Corp.
    1,173,888  53,435,382
BlackRock, Inc.(c)
      239,721  169,873,492
Cboe Global Markets, Inc.
       55,275  6,935,354
Charles Schwab Corp.(b)
      998,098  83,101,640
CME Group, Inc., Class A
      574,116  96,543,347
FactSet Research Systems, Inc.(b)
       24,202  9,710,084
Franklin Resources, Inc.
      451,187  11,902,313
Goldman Sachs Group, Inc.
      540,455  185,581,438
Intercontinental Exchange, Inc.(b)
      891,430  91,451,804
Invesco Ltd.
      722,354  12,995,148
MarketAxess Holdings, Inc.
       30,488  8,502,798
Moody’s Corp.
      133,338  37,150,634
Morgan Stanley
    2,103,954  178,878,169
MSCI, Inc., Class A(b)
  55,033  25,599,701
Nasdaq, Inc.
  193,827  11,891,286
Northern Trust Corp.
  333,347  29,497,876
S&P Global, Inc.
  531,451  178,004,198
State Street Corp.
  585,622  45,426,699
T Rowe Price Group, Inc.
  356,758  38,908,027
      1,275,389,390
Chemicals — 2.2%
Celanese Corp., Class A
  160,418  16,401,136
Corteva, Inc.
  355,159  20,876,246
Dow, Inc.
  1,123,173  56,596,687
DuPont de Nemours, Inc.
  792,858  54,413,845
Eastman Chemical Co.
  190,580  15,520,835
Ecolab, Inc.
  395,475  57,565,341
International Flavors & Fragrances, Inc.
  406,921  42,661,598
Linde PLC
  307,729  100,375,045
LyondellBasell Industries NV, Class A
  403,416  33,495,631
PPG Industries, Inc.
  375,089  47,163,691
Sherwin-Williams Co.
  376,371  89,324,129
      534,394,184
Commercial Services & Supplies — 0.3%
Cintas Corp.
  56,667  25,591,951
Republic Services, Inc.
  148,349  19,135,537
Waste Management, Inc.
  244,494  38,356,219
      83,083,707
Communications Equipment — 1.5%
Cisco Systems, Inc.
  6,553,016  312,185,682
F5, Inc.(a)(b)
  95,077  13,644,500
Juniper Networks, Inc.
  531,531  16,987,731
Motorola Solutions, Inc.
  120,297  31,001,740
      373,819,653
Construction Materials — 0.2%
Martin Marietta Materials, Inc.(b)
  99,195  33,524,934
Vulcan Materials Co.
  86,541  15,154,195
      48,679,129
 
1
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Consumer Finance — 0.7%
American Express Co.
      486,565 $  71,889,979
Capital One Financial Corp.
      609,179  56,629,280
Discover Financial Services
      182,274  17,831,865
Synchrony Financial
      721,660  23,713,748
      170,064,872
Containers & Packaging — 0.6%
Amcor PLC
    2,365,032  28,167,531
Avery Dennison Corp.(b)
      129,723  23,479,863
Ball Corp.(b)
      498,609  25,498,864
International Paper Co.
      564,911  19,562,868
Packaging Corp. of America
      146,968  18,798,677
Sealed Air Corp.(b)
      229,770  11,460,928
Westrock Co.
      419,724  14,757,496
      141,726,227
Distributors — 0.2%
Genuine Parts Co.
       62,681  10,875,780
LKQ Corp.
      406,972  21,736,375
Pool Corp.(b)
       22,954  6,939,683
      39,551,838
Diversified Financial Services — 3.6%
Berkshire Hathaway, Inc., Class B(a)
    2,875,506  888,243,803
Diversified Telecommunication Services — 2.0%
AT&T Inc.
   11,374,505  209,404,637
Lumen Technologies, Inc.
  1,587,990  8,289,308
Verizon Communications, Inc.
  6,702,793  264,090,044
      481,783,989
Electric Utilities — 4.2%
Alliant Energy Corp.
  402,382  22,215,510
American Electric Power Co., Inc.
  820,109  77,869,350
Constellation Energy Corp.
  521,924  44,995,068
Duke Energy Corp.
  1,228,989  126,573,577
Edison International
  609,625  38,784,343
Entergy Corp.
  324,966  36,558,675
Evergy, Inc.
  367,825  23,147,227
Eversource Energy
  555,876  46,604,644
Exelon Corp.
  1,585,977  68,561,786
FirstEnergy Corp.
  867,631  36,388,444
NextEra Energy, Inc.
  3,171,470  265,134,892
NRG Energy, Inc.
  193,937  6,171,075
Pinnacle West Capital Corp.
  179,704  13,664,692
PPL Corp.
  1,176,415  34,374,846
Southern Co.
  1,737,493  124,074,375
Xcel Energy, Inc.
  873,396  61,233,794
      1,026,352,298
Electrical Equipment — 1.1%
AMETEK, Inc.(b)
  183,851  25,687,662
Eaton Corp. PLC
  634,726  99,620,246
Emerson Electric Co.
  943,711  90,652,878
Generac Holdings, Inc.(a)(b)
  100,637  10,130,120
Rockwell Automation, Inc.(b)
  183,289  47,209,748
      273,300,654
Electronic Equipment, Instruments & Components — 0.8%
CDW Corp.
  79,558  14,207,468
Corning, Inc.
  1,215,292  38,816,426
Keysight Technologies, Inc.(a)
  131,799  22,546,855
TE Connectivity Ltd.
  507,641  58,277,187
Teledyne Technologies, Inc.(a)
  74,953  29,974,454
Security   Shares Value
Electronic Equipment, Instruments & Components (continued)
Trimble, Inc.(a)
      391,712 $  19,804,959
Zebra Technologies Corp., Class A(a)
       82,806  21,232,286
      204,859,635
Energy Equipment & Services — 0.7%
Baker Hughes Co., Class A
    1,598,315  47,198,242
Halliburton Co.
    1,449,215  57,026,610
Schlumberger Ltd.
    1,063,658  56,863,157
      161,088,009
Entertainment — 2.4%
Activision Blizzard, Inc.
      466,427  35,704,987
Electronic Arts, Inc.(b)
      133,300  16,286,594
Live Nation Entertainment, Inc.(a)
      226,879  15,822,541
Netflix, Inc.(a)(b)
      710,243  209,436,456
Take-Two Interactive Software, Inc.(a)(b)
      252,547  26,297,719
Walt Disney Co.(a)(b)
    2,909,560  252,782,573
Warner Bros Discovery, Inc., Class A(a)(b)
    3,530,229  33,466,571
      589,797,441
Equity Real Estate Investment Trusts (REITs) — 4.5%
Alexandria Real Estate Equities, Inc.
      238,551  34,749,724
American Tower Corp.
      349,262  73,994,647
AvalonBay Communities, Inc.
      223,430  36,088,414
Boston Properties, Inc.
      226,575  15,311,939
Camden Property Trust
      169,204  18,930,544
Crown Castle, Inc.
  691,128  93,744,602
Digital Realty Trust, Inc.
  458,880  46,011,898
Equinix, Inc.
  147,679  96,734,175
Equity Residential
  543,541  32,068,919
Essex Property Trust, Inc.
  103,811  21,999,627
Extra Space Storage, Inc.
  106,349  15,652,446
Federal Realty Investment Trust
  116,084  11,729,127
Healthpeak Properties, Inc.
  861,778  21,604,774
Host Hotels & Resorts, Inc.
  1,135,685  18,227,744
Invitation Homes, Inc.
  929,178  27,540,836
Iron Mountain, Inc.
  170,840  8,516,374
Kimco Realty Corp.
  982,309  20,805,305
Mid-America Apartment Communities, Inc.
  184,684  28,993,541
Prologis, Inc.
  1,473,200  166,073,836
Public Storage
  96,105  26,927,660
Realty Income Corp.
  1,000,913  63,487,912
Regency Centers Corp.
  244,618  15,288,625
SBA Communications Corp.
  76,163  21,349,251
Simon Property Group, Inc.
  521,786  61,299,419
UDR, Inc.
  486,039  18,824,290
Ventas, Inc.
  639,385  28,804,294
VICI Properties, Inc.
  663,808  21,507,379
Vornado Realty Trust
  271,170  5,643,048
Welltower, Inc.(b)
  754,136  49,433,615
Weyerhaeuser Co.
  502,615  15,581,065
      1,116,925,030
Food & Staples Retailing — 2.3%
Costco Wholesale Corp.
  240,180  109,642,170
Kroger Co.
  1,039,598  46,345,279
Sysco Corp.
  808,791  61,832,072
Walgreens Boots Alliance, Inc.
  1,145,585  42,799,055
Walmart, Inc.
  2,252,578  319,393,035
      580,011,611
Food Products — 1.3%
Archer-Daniels-Midland Co.
  447,175  41,520,199
Campbell Soup Co.(b)
  130,778  7,421,651
Conagra Brands, Inc.
  766,493  29,663,279
 
2
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Food Products (continued)
General Mills, Inc.
      303,976 $  25,488,388
Hormel Foods Corp.
      128,744  5,864,289
J M Smucker Co.
      170,538  27,023,451
Kellogg Co.
      182,949  13,033,287
Kraft Heinz Co.
    1,270,729  51,731,378
McCormick & Co., Inc., NVS
      195,028  16,165,871
Mondelez International, Inc., Class A
    1,002,572  66,821,424
Tyson Foods, Inc., Class A
      463,254  28,837,561
      313,570,778
Gas Utilities — 0.0%
Atmos Energy Corp.
       86,645  9,710,305
Health Care Equipment & Supplies — 4.1%
Abbott Laboratories
    1,335,700  146,646,503
Align Technology, Inc.(a)
      116,393  24,547,284
Baxter International, Inc.
      804,761  41,018,668
Becton Dickinson and Co.(b)
      455,168  115,749,222
Boston Scientific Corp.(a)(b)
    1,074,390  49,712,025
Cooper Cos., Inc.(b)
       79,006  26,124,914
DENTSPLY SIRONA, Inc.
      355,213  11,309,982
Edwards Lifesciences Corp.(a)
      986,722  73,619,329
IDEXX Laboratories, Inc.(a)(b)
       67,090  27,370,036
Intuitive Surgical, Inc.(a)
      287,647  76,327,132
Medtronic PLC
    2,121,297  164,867,203
ResMed, Inc.
  107,993  22,476,583
STERIS PLC(b)
  158,557  29,283,892
Stryker Corp.
  537,527  131,419,976
Teleflex, Inc.(b)
  74,503  18,598,184
Zimmer Biomet Holdings, Inc.
  334,931  42,703,703
      1,001,774,636
Health Care Providers & Services — 2.5%
AmerisourceBergen Corp.
  258,471  42,831,229
Cardinal Health, Inc.
  418,888  32,199,921
Centene Corp.(a)
  903,740  74,115,717
Cigna Corp.
  248,850  82,453,959
CVS Health Corp.
  2,097,063  195,425,301
DaVita, Inc.(a)(b)
  92,704  6,922,208
HCA Healthcare, Inc.
  155,765  37,377,369
Henry Schein, Inc.(a)
  215,286  17,194,893
Humana, Inc.
  72,781  37,277,700
Laboratory Corp. of America Holdings
  141,622  33,349,149
McKesson Corp.
  122,202  45,840,414
Quest Diagnostics, Inc.
  61,500  9,621,060
Universal Health Services, Inc., Class B(b)
  101,902  14,356,973
      628,965,893
Hotels, Restaurants & Leisure — 2.3%
Booking Holdings, Inc.(a)
  61,902  124,749,862
Caesars Entertainment, Inc.(a)(b)
  340,792  14,176,947
Carnival Corp.(a)(b)
  1,645,356  13,261,569
Darden Restaurants, Inc.
  194,385  26,889,277
Domino’s Pizza, Inc.(b)
  30,363  10,517,743
Expedia Group, Inc.(a)
  239,140  20,948,664
Hilton Worldwide Holdings, Inc.(b)
  224,908  28,419,375
Las Vegas Sands Corp.(a)(b)
  526,151  25,292,079
Marriott International, Inc., Class A
  210,710  31,372,612
McDonald’s Corp.
  444,202  117,060,553
MGM Resorts International
  506,254  16,974,697
Norwegian Cruise Line Holdings Ltd.(a)(b)
  703,872  8,615,393
Royal Caribbean Cruises Ltd.(a)
  348,574  17,230,013
Starbucks Corp.
  897,688  89,050,650
Security   Shares Value
Hotels, Restaurants & Leisure (continued)
Wynn Resorts Ltd.(a)(b)
      163,776 $  13,506,607
Yum! Brands, Inc.
      161,059  20,628,437
      578,694,478
Household Durables — 0.6%
DR Horton, Inc.(b)
      249,757  22,263,339
Garmin Ltd.
      243,545  22,476,768
Lennar Corp., Class A
      406,842  36,819,201
Mohawk Industries, Inc.(a)
       87,931  8,988,307
Newell Brands, Inc.
      597,805  7,819,289
NVR, Inc.(a)
        4,806  22,168,060
PulteGroup, Inc.
      361,840  16,474,575
Whirlpool Corp.
       86,519  12,238,978
      149,248,517
Household Products — 1.6%
Church & Dwight Co., Inc.
      389,860  31,426,614
Clorox Co.
      107,791  15,126,311
Colgate-Palmolive Co.
      599,830  47,260,606
Kimberly-Clark Corp.
      280,220  38,039,865
Procter & Gamble Co.
    1,701,903  257,940,419
      389,793,815
Independent Power and Renewable Electricity Producers — 0.0%
AES Corp.
      434,975  12,509,881
Industrial Conglomerates — 2.0%
3M Co.
  882,154  105,787,908
General Electric Co.(b)
  1,743,874  146,119,202
Honeywell International, Inc.
  1,073,019  229,947,972
      481,855,082
Insurance — 2.9%
Aflac, Inc.
  903,058  64,965,992
Allstate Corp.
  423,256  57,393,514
American International Group, Inc.
  1,185,784  74,988,980
Aon PLC, Class A(b)
  112,379  33,729,433
Arthur J. Gallagher & Co.(b)
  121,645  22,934,948
Assurant, Inc.
  75,135  9,396,383
Brown & Brown, Inc.
  156,709  8,927,712
Chubb Ltd.
  284,843  62,836,366
Cincinnati Financial Corp.
  251,629  25,764,293
Everest Re Group Ltd.
  26,752  8,862,135
Globe Life, Inc.
  43,111  5,197,031
Hartford Financial Services Group, Inc.
  507,944  38,517,394
Lincoln National Corp.
  257,886  7,922,258
Loews Corp.(b)
  316,607  18,467,686
Marsh & McLennan Cos., Inc.
  284,989  47,159,980
MetLife, Inc.
  1,051,849  76,122,312
Principal Financial Group, Inc.
  140,128  11,759,542
Prudential Financial, Inc.
  587,324  58,415,245
Travelers Cos., Inc.
  172,332  32,310,527
Willis Towers Watson PLC
  171,925  42,049,416
      707,721,147
Interactive Media & Services — 1.8%
Match Group, Inc.(a)(b)
  448,432  18,605,444
Meta Platforms, Inc., Class A(a)
  3,588,837  431,880,644
      450,486,088
Internet & Direct Marketing Retail — 2.8%
Amazon.com, Inc.(a)(b)
  7,649,095  642,523,980
eBay, Inc.
  866,823  35,947,150
Etsy, Inc.(a)(b)
  83,852  10,043,792
      688,514,922
 
3
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
IT Services — 3.1%
Accenture PLC, Class A
      512,856 $  136,850,495
Akamai Technologies, Inc.(a)(b)
      252,118  21,253,547
Broadridge Financial Solutions, Inc.
       97,182  13,035,022
Cognizant Technology Solutions Corp., Class A
      820,200  46,907,238
DXC Technology Co.(a)(b)
      383,371  10,159,332
EPAM Systems, Inc.(a)(b)
       29,240  9,583,118
Fidelity National Information Services, Inc.
      947,030  64,255,985
Fiserv, Inc.(a)(b)
      314,726  31,809,357
FleetCor Technologies, Inc.(a)
       55,052  10,111,951
Global Payments, Inc.
      431,609  42,867,406
International Business Machines Corp.
    1,442,954  203,297,789
Paychex, Inc.
      219,059  25,314,458
PayPal Holdings, Inc.(a)
    1,819,452  129,581,371
VeriSign, Inc.(a)
       74,713  15,349,039
      760,376,108
Leisure Products — 0.1%
Hasbro, Inc.
      211,358  12,894,952
Life Sciences Tools & Services — 0.9%
Agilent Technologies, Inc.
      189,439  28,349,546
Bio-Rad Laboratories, Inc., Class A(a)
       34,198  14,379,917
Bio-Techne Corp.
      129,642  10,744,729
Charles River Laboratories International, Inc.(a)
       80,816  17,609,806
Illumina, Inc.(a)
      251,052  50,762,714
IQVIA Holdings, Inc.(a)
  154,386  31,632,148
Mettler-Toledo International, Inc.(a)
  12,401  17,925,026
PerkinElmer, Inc.
  201,936  28,315,466
West Pharmaceutical Services, Inc.(b)
  118,481  27,884,503
      227,603,855
Machinery — 2.2%
Caterpillar, Inc.
  332,232  79,589,498
Cummins, Inc.
  110,621  26,802,362
Dover Corp.
  224,433  30,390,473
Fortive Corp.
  565,108  36,308,189
IDEX Corp.
  51,507  11,760,593
Illinois Tool Works, Inc.
  218,600  48,157,580
Ingersoll Rand, Inc.
  647,030  33,807,318
Nordson Corp.
  86,261  20,505,965
Otis Worldwide Corp.
  664,871  52,066,048
PACCAR, Inc.
  555,025  54,930,824
Parker-Hannifin Corp.
  204,926  59,633,466
Pentair PLC
  261,277  11,752,239
Snap-on, Inc.
  36,310  8,296,472
Stanley Black & Decker, Inc.
  234,975  17,651,322
Westinghouse Air Brake Technologies Corp.
  290,903  29,035,028
Xylem, Inc.(b)
  288,088  31,853,890
      552,541,267
Media — 1.6%
Charter Communications, Inc., Class A(a)(b)
  171,420  58,128,522
Comcast Corp., Class A
  6,884,980  240,767,750
DISH Network Corp., Class A(a)(b)
  420,506  5,903,904
Fox Corp., Class A, NVS
  480,418  14,590,295
Fox Corp., Class B
  231,433  6,584,269
Interpublic Group of Cos., Inc.
  617,087  20,555,168
News Corp., Class A, NVS
  607,299  11,052,842
News Corp., Class B(b)
  199,189  3,673,045
Omnicom Group, Inc.
  323,876  26,418,565
Paramount Global, Class B, NVS
  802,145  13,540,208
      401,214,568
Metals & Mining — 0.2%
Newmont Corp.
  1,266,797  59,792,818
Security   Shares Value
Multiline Retail — 0.4%
Target Corp.
      734,567 $  109,479,866
Multi-Utilities — 1.6%
Ameren Corp.
      412,897  36,714,801
CenterPoint Energy, Inc.
    1,006,609  30,188,204
CMS Energy Corp.
      464,273  29,402,409
Consolidated Edison, Inc.
      566,362  53,979,962
Dominion Energy, Inc.
    1,329,883  81,548,426
DTE Energy Co.
      309,459  36,370,717
NiSource, Inc.
      645,072  17,687,874
Public Service Enterprise Group, Inc.
      796,307  48,789,730
Sempra Energy
      200,980  31,059,449
WEC Energy Group, Inc.
      242,592  22,745,426
      388,486,998
Oil, Gas & Consumable Fuels — 1.0%
Kinder Morgan, Inc.
    3,156,848  57,075,812
Marathon Petroleum Corp.
      388,935  45,268,144
Phillips 66
      754,312  78,508,793
Valero Energy Corp.
      549,338  69,689,019
      250,541,768
Personal Products — 0.4%
Estee Lauder Cos., Inc., Class A(b)
      369,112  91,580,378
Pharmaceuticals — 1.8%
Catalent, Inc.(a)
      285,837  12,865,523
Johnson & Johnson
  1,585,599  280,096,063
Organon & Co.
  423,405  11,825,702
Viatris, Inc.
  1,926,128  21,437,805
Zoetis, Inc., Class A
  743,844  109,010,338
      435,235,431
Professional Services — 0.4%
Equifax, Inc.
  99,180  19,276,625
Jacobs Solutions, Inc.
  204,366  24,538,225
Leidos Holdings, Inc.
  75,980  7,992,336
Robert Half International, Inc.(b)
  172,336  12,723,567
Verisk Analytics, Inc.
  135,290  23,867,862
      88,398,615
Real Estate Management & Development — 0.2%
CBRE Group, Inc., Class A(a)
  504,472  38,824,165
Road & Rail — 1.0%
CSX Corp.
  1,744,799  54,053,873
Norfolk Southern Corp.
  369,499  91,051,943
Union Pacific Corp.
  490,595  101,587,507
      246,693,323
Semiconductors & Semiconductor Equipment — 3.0%
Advanced Micro Devices, Inc.(a)(b)
  1,183,707  76,668,702
Analog Devices, Inc.
  435,067  71,364,040
Broadcom, Inc.
  258,551  144,563,621
Intel Corp.
  6,586,583  174,083,389
Microchip Technology, Inc.
  448,304  31,493,356
Micron Technology, Inc.
  1,735,086  86,719,598
NXP Semiconductors NV(b)
  168,758  26,668,827
Qorvo, Inc.(a)
  161,030  14,595,759
Skyworks Solutions, Inc.
  257,014  23,421,686
Teradyne, Inc.(b)
  126,166  11,020,600
Texas Instruments, Inc.
  535,940  88,548,007
      749,147,585
Software — 7.6%
Adobe, Inc.(a)
  393,252  132,341,096
ANSYS, Inc.(a)
  139,191  33,627,154
 
4
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Software (continued)
Autodesk, Inc.(a)
      155,339 $  29,028,199
Ceridian HCM Holding, Inc.(a)(b)
      243,961  15,650,098
Gen Digital, Inc.
      432,751  9,273,854
Intuit, Inc.
      211,428  82,292,006
Microsoft Corp.
    4,996,811  1,198,335,213
Oracle Corp.
    1,005,621  82,199,461
Roper Technologies, Inc.
      169,260  73,135,553
Salesforce, Inc.(a)(b)
    1,595,966  211,609,132
Tyler Technologies, Inc.(a)
       35,047  11,299,503
      1,878,791,269
Specialty Retail — 2.0%
Advance Auto Parts, Inc.
       95,484  14,039,013
Bath & Body Works, Inc.
      362,735  15,285,653
Best Buy Co., Inc.
      320,769  25,728,882
CarMax, Inc.(a)(b)
      250,980  15,282,172
Home Depot, Inc.
      767,908  242,551,421
Lowe’s Cos., Inc.
      307,085  61,183,615
Ross Stores, Inc.
      553,906  64,291,869
TJX Cos., Inc.
      667,080  53,099,568
      491,462,193
Technology Hardware, Storage & Peripherals — 0.5%
Hewlett Packard Enterprise Co.
    2,056,561  32,822,713
HP, Inc.
    1,413,556  37,982,250
NetApp, Inc.
  345,254  20,735,955
Seagate Technology Holdings PLC
  304,965  16,044,209
Western Digital Corp.(a)
  518,978  16,373,756
      123,958,883
Textiles, Apparel & Luxury Goods — 1.1%
NIKE, Inc., Class B
  2,010,425  235,239,829
Ralph Lauren Corp., Class A
  65,261  6,896,130
Tapestry, Inc.
  382,729  14,574,320
VF Corp.
  524,583  14,483,737
      271,194,016
Tobacco — 0.7%
Altria Group, Inc.
  1,372,931  62,756,676
Philip Morris International, Inc.
  1,138,085  115,185,583
      177,942,259
Security   Shares Value
Trading Companies & Distributors — 0.2%
Fastenal Co.
      468,174 $  22,153,994
United Rentals, Inc.(a)
      110,665  39,332,554
      61,486,548
Water Utilities — 0.2%
American Water Works Co., Inc.
      290,184  44,229,845
Wireless Telecommunication Services — 0.2%
T-Mobile U.S., Inc.(a)(b)
      305,002  42,700,280
Total Long-Term Investments — 99.7%

(Cost: $24,842,592,007)
24,584,748,850
Short-Term Securities
Money Market Funds — 1.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 4.53%(c)(d)(e)
  302,606,571  302,697,353
BlackRock Cash Funds: Treasury, SL Agency Shares, 4.12%(c)(d)
   45,874,298  45,874,298
Total Short-Term Securities — 1.4%

(Cost: $348,453,676)
348,571,651
Total Investments — 101.1%

(Cost: $25,191,045,683)
24,933,320,501
Liabilities in Excess of Other Assets — (1.1)%
(269,690,448)
Net Assets — 100.0%
$  24,663,630,053
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(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.
 
5
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® S&P 500 Value ETF
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended December 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
03/31/22 		Purchases
at Cost 		Proceeds
from Sale 		Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Value at
12/31/22 		Shares
Held at
12/31/22 		Income   Capital
Gain
Distributions
from Underlying
Funds
BlackRock Cash Funds: Institutional, SL Agency Shares
$  121,421,682 $  181,193,728(a) $  — $  (19,638)   $  101,581   $  302,697,353 302,606,571 $  465,879(b)   $  —
BlackRock Cash Funds: Treasury, SL Agency Shares
 38,340,000  7,534,298(a)  —  —    —    45,874,298 45,874,298  632,960    26
BlackRock, Inc.
 71,414,743  113,567,039  (11,543,777)  4,239,385    (7,803,898)    169,873,492 239,721  1,431,855    —
        $  4,219,747   $  (7,702,317)   $  518,445,143   $  2,530,694   $  26
(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.
Futures Contracts
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/
Unrealized
Appreciation
(Depreciation)
Long Contracts        
S&P 500 E-Mini Index
385 03/17/23 $  74,324 $  (282,068)
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 the 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 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 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.
6
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® S&P 500 Value ETF
Fair Value Hierarchy as of Period End (continued)
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
Assets              
Investments              
Long-Term Investments              
Common Stocks 
$  24,584,748,850   $  —   $  —   $  24,584,748,850
Short-Term Securities              
Money Market Funds
 348,571,651    —    —    348,571,651
  $  24,933,320,501   $  —   $  —   $  24,933,320,501
Derivative Financial Instruments(a)              
Liabilities              
Equity Contracts
$  (282,068)   $  —   $  —   $  (282,068)
(a) Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.
Portfolio Abbreviation 
NVS Non-Voting Shares
S&P Standard & Poor’s
7