NPORT-EX 2 252022BR123122.htm
Schedule of Investments (unaudited)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Common Stocks
Aerospace & Defense — 1.3%
Axon Enterprise, Inc.(a)
       32,721 $  5,429,396
BWX Technologies, Inc.(b)
      118,960  6,909,197
Curtiss-Wright Corp.(b)
       81,861  13,669,968
HEICO Corp.
        5,926  910,471
HEICO Corp., Class A
       10,412  1,247,878
Hexcel Corp.(b)
      177,814  10,464,354
Howmet Aerospace, Inc.
      715,728  28,206,840
Huntington Ingalls Industries, Inc.
       65,572  15,126,149
Mercury Systems, Inc.(a)
      104,697  4,684,144
Spirit AeroSystems Holdings, Inc., Class A
       11,175  330,780
Textron, Inc.(b)
      443,795  31,420,686
TransDigm Group, Inc.
       67,019  42,198,513
Woodward, Inc.(b)
      124,764  12,053,450
      172,651,826
Air Freight & Logistics — 0.4%
CH Robinson Worldwide, Inc.(b)
      180,561  16,532,165
Expeditors International of Washington, Inc.(b)
      233,288  24,243,289
GXO Logistics, Inc.(a)
      200,592  8,563,273
      49,338,727
Airlines — 0.8%
Alaska Air Group, Inc.(a)
      263,380  11,309,537
American Airlines Group, Inc.(a)
    1,372,315  17,455,847
Copa Holdings SA, Class A, NVS(a)(b)
  60,557  5,036,526
JetBlue Airways Corp.(a)
  690,940  4,477,291
Southwest Airlines Co.
  1,260,486  42,440,564
United Airlines Holdings, Inc.(a)(b)
  697,623  26,300,387
      107,020,152
Auto Components — 0.7%
Aptiv PLC(a)
  431,024  40,141,265
BorgWarner, Inc.
  498,583  20,067,966
Gentex Corp.
  502,208  13,695,212
Lear Corp.
  125,987  15,624,908
QuantumScape Corp., Class A(a)(b)
  556,126  3,153,234
      92,682,585
Automobiles — 0.3%
Harley-Davidson, Inc.
  285,291  11,868,106
Lucid Group, Inc.(a)(b)
  67,975  464,269
Rivian Automotive, Inc., Class A(a)(b)
  1,105,968  20,382,990
Thor Industries, Inc.
  109,836  8,291,520
      41,006,885
Banks — 4.6%
Bank of Hawaii Corp.
  84,408  6,546,685
Bank OZK
  238,979  9,573,499
BOK Financial Corp.
  62,556  6,492,687
Citizens Financial Group, Inc.
  1,039,220  40,914,091
Comerica, Inc.
  279,042  18,653,958
Commerce Bancshares, Inc.
  242,758  16,524,537
Cullen/Frost Bankers, Inc.
  124,251  16,612,359
East West Bancorp, Inc.
  301,910  19,895,869
Fifth Third Bancorp
  1,454,145  47,710,497
First Citizens BancShares, Inc., Class A
  17,606  13,351,686
First Hawaiian, Inc.
  274,006  7,135,116
First Horizon Corp.
  1,126,124  27,590,038
First Republic Bank
  387,018  47,173,624
FNB Corp.
  740,922  9,669,032
Huntington Bancshares, Inc.
  3,054,509  43,068,577
KeyCorp
  1,977,601  34,449,809
M&T Bank Corp.
  366,805  53,208,733
PacWest Bancorp
  248,512  5,703,350
Security   Shares Value
Banks (continued)
Pinnacle Financial Partners, Inc.
      159,417 $  11,701,208
Popular, Inc.
      151,556  10,051,194
Prosperity Bancshares, Inc.
      187,162  13,602,934
Regions Financial Corp.
    1,989,420  42,891,895
Signature Bank
      124,721  14,370,354
SVB Financial Group(a)
       45,211  10,404,860
Synovus Financial Corp.
      304,953  11,450,985
Umpqua Holdings Corp.
      463,504  8,273,546
Webster Financial Corp.
      367,770  17,410,232
Western Alliance Bancorp
       87,922  5,236,634
Wintrust Financial Corp.
      128,174  10,833,267
Zions Bancorp N.A.
      315,316  15,500,935
      596,002,191
Beverages — 0.2%
Boston Beer Co., Inc., Class A, NVS(a)(b)
          994  327,543
Brown-Forman Corp., Class A(b)
       39,274  2,582,658
Brown-Forman Corp., Class B, NVS
      160,310  10,529,161
Molson Coors Beverage Co., Class B
      372,516  19,192,024
      32,631,386
Biotechnology — 1.4%
Biogen, Inc.(a)
      305,601  84,627,029
BioMarin Pharmaceutical, Inc.(a)
      392,774  40,648,181
Exact Sciences Corp.(a)(b)
      305,765  15,138,425
Exelixis, Inc.(a)
  93,916  1,506,413
Horizon Therapeutics PLC(a)
  32,924  3,746,751
Incyte Corp.(a)
  53,230  4,275,434
Ionis Pharmaceuticals, Inc.(a)(b)
  23,385  883,251
Mirati Therapeutics, Inc.(a)(b)
  94,944  4,301,913
Natera, Inc.(a)
  14,789  594,074
Ultragenyx Pharmaceutical, Inc.(a)
  30,632  1,419,181
United Therapeutics Corp.(a)
  94,901  26,391,019
      183,531,671
Building Products — 1.7%
A O Smith Corp.
  203,966  11,675,014
Allegion PLC(b)
  39,347  4,141,665
Armstrong World Industries, Inc.(b)
  41,198  2,825,771
AZEK Co., Inc., Class A(a)(b)
  237,528  4,826,569
Builders FirstSource, Inc.(a)
  309,462  20,077,894
Carlisle Cos., Inc.
  17,478  4,118,691
Carrier Global Corp.
  1,782,254  73,517,977
Fortune Brands Innovations, Inc.
  179,247  10,236,796
Hayward Holdings, Inc.(a)(b)
  139,669  1,312,889
Lennox International, Inc.
  67,804  16,220,751
Masco Corp.
  456,304  21,295,708
Masterbrand, Inc.(a)
  179,247  1,353,315
Owens Corning
  198,487  16,930,941
Trane Technologies PLC
  204,955  34,450,886
      222,984,867
Capital Markets — 4.6%
Affiliated Managers Group, Inc.
  79,556  12,604,057
Ameriprise Financial, Inc.
  81,917  25,506,496
Bank of New York Mellon Corp.
  1,566,531  71,308,491
Carlyle Group, Inc.
  442,410  13,201,514
Cboe Global Markets, Inc.
  225,618  28,308,290
Coinbase Global, Inc., Class A(a)(b)
  339,819  12,026,194
Evercore, Inc., Class A
  77,243  8,425,666
Franklin Resources, Inc.
  609,063  16,067,082
Interactive Brokers Group, Inc., Class A
  198,390  14,353,517
Invesco Ltd.
  798,136  14,358,467
Janus Henderson Group PLC
  288,674  6,789,613
Jefferies Financial Group, Inc.
  429,366  14,718,667
 
1
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Capital Markets (continued)
KKR & Co., Inc., Class A
    1,220,282 $  56,645,490
Lazard Ltd., Class A
      176,166  6,107,675
Morningstar, Inc.
        5,291  1,145,978
MSCI, Inc., Class A
       40,832  18,993,821
Nasdaq, Inc.(b)
      731,812  44,896,666
Northern Trust Corp.
      437,467  38,711,455
Raymond James Financial, Inc.
      381,076  40,717,971
Robinhood Markets, Inc., Class A(a)(b)
    1,205,894  9,815,977
SEI Investments Co.
      218,321  12,728,114
State Street Corp.
      782,607  60,706,825
Stifel Financial Corp.
      220,742  12,884,711
T Rowe Price Group, Inc.
      468,331  51,076,179
Tradeweb Markets, Inc., Class A
       85,120  5,526,842
Virtu Financial, Inc., Class A
      200,771  4,097,736
      601,723,494
Chemicals — 4.0%
Albemarle Corp.
      120,824  26,201,893
Ashland, Inc.
      108,414  11,657,757
Axalta Coating Systems Ltd.(a)(b)
      355,618  9,057,591
Celanese Corp., Class A
      230,543  23,570,716
Chemours Co.
      128,412  3,931,975
Corteva, Inc.
    1,525,118  89,646,436
DuPont de Nemours, Inc.
    1,069,427  73,394,775
Eastman Chemical Co.
  254,520  20,728,109
Element Solutions, Inc.
  483,648  8,797,557
FMC Corp.
  177,070  22,098,336
Ginkgo Bioworks Holdings, Inc., Class A(a)(b)
  1,501,899  2,538,209
Huntsman Corp.
  387,947  10,660,784
International Flavors & Fragrances, Inc.
  543,737  57,005,387
LyondellBasell Industries NV, Class A
  548,552  45,546,273
Mosaic Co.
  634,751  27,846,526
NewMarket Corp.
  12,380  3,851,542
Olin Corp.
  268,578  14,218,519
PPG Industries, Inc.
  235,269  29,582,724
RPM International, Inc.
  257,731  25,115,886
Scotts Miracle-Gro Co.
  55,672  2,705,103
Westlake Corp.(b)
  70,482  7,227,224
      515,383,322
Commercial Services & Supplies — 0.8%
Cintas Corp.
  12,254  5,534,151
Clean Harbors, Inc.(a)
  108,667  12,401,078
Driven Brands Holdings, Inc.(a)(b)
  124,654  3,404,301
IAA, Inc.(a)(b)
  47,950  1,918,000
MSA Safety, Inc.(b)
  48,466  6,988,313
Republic Services, Inc.
  411,872  53,127,369
Rollins, Inc.
  37,282  1,362,284
Stericycle, Inc.(a)
  194,237  9,690,484
Tetra Tech, Inc.
  66,727  9,688,093
      104,114,073
Communications Equipment — 1.2%
Ciena Corp.(a)(b)
  314,236  16,019,751
F5, Inc.(a)
  126,915  18,213,572
Juniper Networks, Inc.
  682,894  21,825,292
Lumentum Holdings, Inc.(a)
  146,163  7,625,324
Motorola Solutions, Inc.
  351,015  90,460,076
Ubiquiti, Inc.
  6,257  1,711,477
Viasat, Inc.(a)(b)
  153,482  4,857,705
      160,713,197
Construction & Engineering — 0.7%
AECOM
  263,358  22,366,995
MasTec, Inc.(a)
  129,118  11,017,639
Security   Shares Value
Construction & Engineering (continued)
MDU Resources Group, Inc.
      431,668 $  13,096,807
Quanta Services, Inc.
      137,486  19,591,755
Valmont Industries, Inc.(b)
       38,716  12,802,220
WillScot Mobile Mini Holdings Corp.(a)
      202,561  9,149,680
      88,025,096
Construction Materials — 0.5%
Eagle Materials, Inc.
       13,036  1,731,833
Martin Marietta Materials, Inc.
      120,722  40,800,414
Vulcan Materials Co.
      144,262  25,261,719
      67,793,966
Consumer Finance — 1.0%
Ally Financial, Inc.
      634,987  15,525,432
Credit Acceptance Corp.(a)(b)
       12,835  6,088,924
Discover Financial Services
      582,159  56,952,615
OneMain Holdings, Inc.
      246,439  8,208,883
SLM Corp.
      535,874  8,895,508
SoFi Technologies, Inc.(a)(b)
    1,718,419  7,921,912
Synchrony Financial
      955,567  31,399,932
Upstart Holdings, Inc.(a)(b)
      124,386  1,644,383
      136,637,589
Containers & Packaging — 1.5%
Amcor PLC
    3,192,445  38,022,020
AptarGroup, Inc.
      139,810  15,376,304
Ardagh Group SA, Class A(a)
  34,751  295,557
Ardagh Metal Packaging SA
  222,239  1,068,970
Avery Dennison Corp.
  66,440  12,025,640
Ball Corp.
  396,898  20,297,364
Berry Global Group, Inc.
  138,707  8,382,064
Crown Holdings, Inc.(b)
  29,427  2,419,194
Graphic Packaging Holding Co.
  146,785  3,265,966
International Paper Co.
  755,880  26,176,124
Packaging Corp. of America
  194,197  24,839,738
Silgan Holdings, Inc.
  179,954  9,328,815
Sonoco Products Co.
  208,092  12,633,265
Westrock Co.
  541,742  19,047,649
      193,178,670
Distributors — 0.6%
Genuine Parts Co.
  271,580  47,121,846
LKQ Corp.
  534,418  28,543,265
      75,665,111
Diversified Consumer Services — 0.3%
ADT, Inc.(b)
  451,512  4,095,214
Bright Horizons Family Solutions, Inc.(a)(b)
  88,724  5,598,484
Grand Canyon Education, Inc.(a)
  65,240  6,893,259
H&R Block, Inc.
  59,930  2,188,044
Mister Car Wash, Inc.(a)(b)
  42,993  396,825
Service Corp. International
  318,300  22,007,262
      41,179,088
Diversified Financial Services — 0.4%
Apollo Global Management, Inc.
  247,044  15,758,937
Equitable Holdings, Inc.
  789,006  22,644,472
Voya Financial, Inc.
  207,398  12,752,903
      51,156,312
Diversified Telecommunication Services — 0.2%
Frontier Communications Parent, Inc.(a)(b)
  522,999  13,326,014
Lumen Technologies, Inc.
  2,184,916  11,405,262
      24,731,276
Electric Utilities — 4.6%
Alliant Energy Corp.
  533,479  29,453,376
 
2
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Electric Utilities (continued)
Avangrid, Inc.
      151,776 $  6,523,332
Constellation Energy Corp.
      696,608  60,054,576
Edison International
      802,322  51,043,726
Entergy Corp.
      432,129  48,614,513
Evergy, Inc.
      473,139  29,774,637
Eversource Energy
      735,092  61,630,113
FirstEnergy Corp.
    1,155,903  48,478,572
Hawaiian Electric Industries, Inc.
      233,059  9,753,519
IDACORP, Inc.
      106,718  11,509,536
NRG Energy, Inc.
      487,567  15,514,382
OGE Energy Corp.
      424,958  16,807,089
PG&E Corp.(a)(b)
    3,512,571  57,114,404
Pinnacle West Capital Corp.
      240,242  18,268,002
PPL Corp.
    1,573,058  45,964,755
Xcel Energy, Inc.
    1,162,792  81,523,347
      592,027,879
Electrical Equipment — 1.5%
Acuity Brands, Inc.
       68,768  11,388,669
AMETEK, Inc.
      491,399  68,658,268
Hubbell, Inc.
      113,962  26,744,602
nVent Electric PLC
      353,172  13,586,527
Plug Power, Inc.(a)(b)
      553,561  6,847,550
Regal Rexnord Corp.
      140,795  16,892,584
Rockwell Automation, Inc.
  79,471  20,469,345
Sensata Technologies Holding PLC
  321,750  12,992,265
Sunrun, Inc.(a)(b)
  443,204  10,645,760
Vertiv Holdings Co.(b)
  544,446  7,437,132
      195,662,702
Electronic Equipment, Instruments & Components — 1.8%
Amphenol Corp., Class A
  306,771  23,357,544
Arrow Electronics, Inc.(a)(b)
  123,850  12,950,994
Avnet, Inc.(b)
  193,496  8,045,564
Cognex Corp.
  25,109  1,182,885
Coherent Corp.(a)(b)
  212,607  7,462,506
Corning, Inc.
  1,512,380  48,305,417
IPG Photonics Corp.(a)
  69,385  6,568,678
Jabil, Inc.
  53,179  3,626,808
Keysight Technologies, Inc.(a)
  28,093  4,805,869
Littelfuse, Inc.
  51,274  11,290,535
National Instruments Corp.
  241,521  8,912,125
TD SYNNEX Corp.(b)
  90,818  8,601,373
Teledyne Technologies, Inc.(a)
  98,891  39,547,500
Trimble, Inc.(a)
  523,952  26,491,013
Vontier Corp.
  127,140  2,457,616
Zebra Technologies Corp., Class A(a)
  64,807  16,617,163
      230,223,590
Energy Equipment & Services — 0.9%
Baker Hughes Co., Class A
  2,009,159  59,330,465
Halliburton Co.
  1,046,150  41,166,003
NOV, Inc.
  834,287  17,428,255
      117,924,723
Entertainment — 1.1%
AMC Entertainment Holdings, Inc., Class A(a)(b)
  1,102,220  4,486,035
Electronic Arts, Inc.
  554,401  67,736,714
Liberty Media Corp.-Liberty Formula One, Class A(a)
  39,120  2,090,182
Liberty Media Corp.-Liberty Formula One, Class C, NVS(a)
  379,492  22,686,032
Live Nation Entertainment, Inc.(a)
  165,953  11,573,562
Madison Square Garden Sports Corp., Class A
  20,488  3,756,065
Playtika Holding Corp.(a)(b)
  18,648  158,694
Security   Shares Value
Entertainment (continued)
Roku, Inc.(a)(b)
      185,810 $  7,562,467
Take-Two Interactive Software, Inc.(a)
       60,536  6,303,614
Warner Bros Discovery, Inc., Class A(a)(b)
    1,336,077  12,666,010
      139,019,375
Equity Real Estate Investment Trusts (REITs) — 10.1%
Alexandria Real Estate Equities, Inc.
      345,707  50,359,139
American Homes 4 Rent, Class A
      655,013  19,742,092
Americold Realty Trust, Inc.
      570,494  16,150,685
Apartment Income REIT Corp.
      292,759  10,044,561
AvalonBay Communities, Inc.
      298,097  48,148,627
Boston Properties, Inc.
      333,545  22,540,971
Brixmor Property Group, Inc.
      637,728  14,457,294
Camden Property Trust
      202,111  22,612,179
Cousins Properties, Inc.
      320,571  8,107,241
CubeSmart
      477,908  19,235,797
Douglas Emmett, Inc.
      363,162  5,694,380
EastGroup Properties, Inc.
       88,020  13,032,241
EPR Properties
      156,966  5,920,758
Equity LifeStyle Properties, Inc.
      145,976  9,430,050
Equity Residential
      790,420  46,634,780
Essex Property Trust, Inc.
      138,326  29,314,046
Extra Space Storage, Inc.
      248,452  36,567,165
Federal Realty Investment Trust
      170,815  17,259,148
First Industrial Realty Trust, Inc.
  280,318  13,528,147
Gaming and Leisure Properties, Inc.
  519,595  27,065,704
Healthcare Realty Trust, Inc.
  805,577  15,523,469
Healthpeak Properties, Inc.
  1,147,634  28,771,184
Highwoods Properties, Inc.
  221,852  6,207,419
Host Hotels & Resorts, Inc.
  1,506,584  24,180,673
Hudson Pacific Properties, Inc.
  294,310  2,863,636
Invitation Homes, Inc.
  1,303,290  38,629,516
Iron Mountain, Inc.
  154,541  7,703,869
JBG SMITH Properties
  225,528  4,280,521
Kilroy Realty Corp.
  246,585  9,535,442
Kimco Realty Corp.
  1,285,380  27,224,348
Lamar Advertising Co., Class A
  22,851  2,157,134
Life Storage, Inc.
  179,354  17,666,369
Medical Properties Trust, Inc.
  1,264,500  14,086,530
Mid-America Apartment Communities, Inc.
  245,192  38,492,692
National Retail Properties, Inc.
  379,326  17,357,958
National Storage Affiliates Trust
  180,850  6,532,302
Omega Healthcare Investors, Inc.
  502,433  14,043,002
Park Hotels & Resorts, Inc.
  477,325  5,627,662
Rayonier, Inc.
  311,685  10,273,138
Realty Income Corp.
  1,338,009  84,869,911
Regency Centers Corp.
  364,866  22,804,125
Rexford Industrial Realty, Inc.
  390,832  21,355,060
SBA Communications Corp.
  175,252  49,124,888
Simon Property Group, Inc.
  357,618  42,012,963
SL Green Realty Corp.
  137,759  4,645,233
Spirit Realty Capital, Inc.
  296,130  11,824,471
STORE Capital Corp.
  539,446  17,294,639
Sun Communities, Inc.
  258,926  37,026,418
UDR, Inc.
  689,039  26,686,480
Ventas, Inc.
  852,608  38,409,990
VICI Properties, Inc.(b)
  2,051,572  66,470,933
Vornado Realty Trust
  377,970  7,865,556
Welltower, Inc.(b)
  1,008,968  66,137,852
Weyerhaeuser Co.
  1,570,503  48,685,593
WP Carey, Inc.
  438,836  34,295,033
      1,306,511,014
 
3
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Food & Staples Retailing — 1.0%
Albertsons Cos., Inc., Class A
      361,474 $  7,496,971
BJ’s Wholesale Club Holdings, Inc.(a)
      105,312  6,967,442
Casey’s General Stores, Inc.
       78,876  17,695,830
Grocery Outlet Holding Corp.(a)
      174,952  5,106,849
Kroger Co.
    1,398,731  62,355,428
Performance Food Group Co.(a)(b)
      222,857  13,012,620
U.S. Foods Holding Corp.(a)
      430,287  14,638,364
      127,273,504
Food Products — 2.5%
Bunge Ltd.
      294,416  29,373,884
Campbell Soup Co.(b)
      412,568  23,413,234
Conagra Brands, Inc.
    1,005,170  38,900,079
Darling Ingredients, Inc.(a)(b)
      317,464  19,870,072
Flowers Foods, Inc.(b)
      397,546  11,425,472
Freshpet, Inc.(a)(b)
       42,006  2,216,657
Hershey Co.
       41,240  9,549,947
Hormel Foods Corp.
      610,161  27,792,834
Ingredion, Inc.
      140,086  13,718,622
J M Smucker Co.
      219,390  34,764,539
Kellogg Co.
      245,263  17,472,536
McCormick & Co., Inc., NVS
      535,091  44,353,693
Pilgrim’s Pride Corp.(a)
       47,477  1,126,629
Post Holdings, Inc.(a)
      116,495  10,514,839
Seaboard Corp.(b)
  542  2,046,164
Tyson Foods, Inc., Class A
  608,438  37,875,265
      324,414,466
Gas Utilities — 0.5%
Atmos Energy Corp.
  294,822  33,040,702
National Fuel Gas Co.
  170,734  10,807,462
UGI Corp.
  445,504  16,514,833
      60,362,997
Health Care Equipment & Supplies — 2.1%
Align Technology, Inc.(a)
  41,699  8,794,319
Cooper Cos., Inc.(b)
  103,397  34,190,286
DENTSPLY SIRONA, Inc.
  458,044  14,584,121
Enovis Corp.(a)
  108,581  5,811,255
Envista Holdings Corp.(a)(b)
  347,785  11,709,921
Globus Medical, Inc., Class A(a)(b)
  151,391  11,243,810
Hologic, Inc.(a)
  523,567  39,168,047
ICU Medical, Inc.(a)(b)
  35,247  5,550,698
Integra LifeSciences Holdings Corp.(a)
  155,650  8,727,295
Masimo Corp.(a)
  23,864  3,530,679
QuidelOrtho Corp.(a)
  105,096  9,003,574
STERIS PLC
  212,407  39,229,449
Tandem Diabetes Care, Inc.(a)
  7,732  347,553
Teleflex, Inc.(b)
  99,851  24,925,805
Zimmer Biomet Holdings, Inc.
  447,592  57,067,980
      273,884,792
Health Care Providers & Services — 1.9%
Acadia Healthcare Co., Inc.(a)
  190,210  15,658,087
agilon health, Inc.(a)(b)
  24,047  388,119
Amedisys, Inc.(a)
  68,261  5,702,524
Cardinal Health, Inc.
  559,373  42,999,003
Chemed Corp.(b)
  19,980  10,198,391
Encompass Health Corp.
  207,961  12,438,147
Enhabit, Inc.(a)(b)
  102,749  1,352,177
Henry Schein, Inc.(a)
  287,843  22,990,020
Laboratory Corp. of America Holdings
  188,497  44,387,274
Molina Healthcare, Inc.(a)
  27,561  9,101,193
Oak Street Health, Inc.(a)(b)
  249,993  5,377,349
Premier, Inc., Class A
  250,278  8,754,725
Security   Shares Value
Health Care Providers & Services (continued)
Quest Diagnostics, Inc.
      242,401 $  37,921,213
Signify Health, Inc., Class A(a)(b)
      162,784  4,665,390
Tenet Healthcare Corp.(a)
      226,946  11,072,695
Universal Health Services, Inc., Class B
      132,016  18,599,734
      251,606,041
Health Care Technology — 0.1%
Certara, Inc.(a)(b)
       86,217  1,385,507
Definitive Healthcare Corp.(a)(b)
       38,806  426,478
Doximity, Inc., Class A(a)(b)
      127,000  4,262,120
Teladoc Health, Inc.(a)(b)
      309,151  7,311,421
      13,385,526
Hotels, Restaurants & Leisure — 2.2%
Aramark(b)
      493,949  20,419,852
Boyd Gaming Corp.
      162,468  8,859,380
Caesars Entertainment, Inc.(a)(b)
      137,918  5,737,389
Carnival Corp.(a)(b)
    2,076,132  16,733,624
Darden Restaurants, Inc.
       70,433  9,742,997
Domino’s Pizza, Inc.
       20,201  6,997,626
Hilton Worldwide Holdings, Inc.
      157,070  19,847,365
Hyatt Hotels Corp., Class A(a)
      100,733  9,111,300
Las Vegas Sands Corp.(a)
      441,414  21,218,771
Marriott Vacations Worldwide Corp.
       79,580  10,710,672
MGM Resorts International
      682,648  22,889,187
Norwegian Cruise Line Holdings Ltd.(a)(b)
  819,965  10,036,372
Penn Entertainment, Inc.(a)(b)
  328,733  9,763,370
Planet Fitness, Inc., Class A(a)
  46,515  3,665,382
Royal Caribbean Cruises Ltd.(a)(b)
  468,817  23,173,624
Six Flags Entertainment Corp.(a)
  80,827  1,879,228
Travel + Leisure Co.
  49,347  1,796,231
Vail Resorts, Inc.
  4,551  1,084,731
Wyndham Hotels & Resorts, Inc.(b)
  58,062  4,140,401
Wynn Resorts Ltd.(a)(b)
  193,872  15,988,624
Yum! Brands, Inc.
  532,218  68,166,481
      291,962,607
Household Durables — 1.5%
DR Horton, Inc.(b)
  319,672  28,495,562
Garmin Ltd.
  328,121  30,282,287
Leggett & Platt, Inc.
  282,924  9,118,641
Lennar Corp., Class A
  535,197  48,435,328
Lennar Corp., Class B
  31,292  2,340,016
Mohawk Industries, Inc.(a)
  111,493  11,396,814
Newell Brands, Inc.
  799,666  10,459,631
NVR, Inc.(a)
  1,752  8,081,240
PulteGroup, Inc.
  293,781  13,375,849
Tempur Sealy International, Inc.
  358,814  12,318,085
Toll Brothers, Inc.
  111,007  5,541,469
TopBuild Corp.(a)
  10,491  1,641,737
Whirlpool Corp.
  113,493  16,054,720
      197,541,379
Household Products — 0.3%
Church & Dwight Co., Inc.
  282,877  22,802,715
Clorox Co.
  45,079  6,325,936
Reynolds Consumer Products, Inc.(b)
  114,781  3,441,134
Spectrum Brands Holdings, Inc.(b)
  85,344  5,199,157
      37,768,942
Independent Power and Renewable Electricity Producers — 0.4%
AES Corp.
  1,164,348  33,486,649
Brookfield Renewable Corp., Class A(b)
  271,504  7,477,220
Vistra Corp.
  353,635  8,204,332
      49,168,201
 
4
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Insurance — 6.9%
Aflac, Inc.
    1,314,371 $  94,555,850
Allstate Corp.
      563,635  76,428,906
American Financial Group, Inc.
      145,393  19,959,551
Arch Capital Group Ltd.(a)
      508,826  31,944,096
Arthur J. Gallagher & Co.
      393,090  74,113,189
Assurant, Inc.
      106,606  13,332,146
Assured Guaranty Ltd.
      122,547  7,629,776
Axis Capital Holdings Ltd.
      166,664  9,028,189
Brighthouse Financial, Inc.(a)
      146,025  7,486,702
Brown & Brown, Inc.
      466,116  26,554,629
Cincinnati Financial Corp.
      326,294  33,409,243
CNA Financial Corp.
       59,339  2,508,853
Erie Indemnity Co., Class A, NVS
       13,681  3,402,738
Everest Re Group Ltd.
       57,355  18,999,991
F&G Annuities & Life, Inc.(a)
       38,196  764,302
Fidelity National Financial, Inc., Class A
      552,792  20,796,035
First American Financial Corp.
      214,073  11,204,581
Globe Life, Inc.
      190,476  22,961,882
Hanover Insurance Group, Inc.
       75,067  10,143,804
Hartford Financial Services Group, Inc.
      675,799  51,245,838
Kemper Corp.
      135,467  6,664,976
Lincoln National Corp.
      288,352  8,858,173
Loews Corp.
      418,074  24,386,256
Markel Corp.(a)(b)
  21,917  28,875,428
Old Republic International Corp.
  598,648  14,457,349
Primerica, Inc.
  78,003  11,062,386
Principal Financial Group, Inc.
  516,077  43,309,182
Prudential Financial, Inc.
  783,918  77,968,484
Reinsurance Group of America, Inc.
  142,180  20,202,356
RenaissanceRe Holdings Ltd.(b)
  41,326  7,613,489
Unum Group
  423,857  17,390,853
W R Berkley Corp.
  438,128  31,794,949
White Mountains Insurance Group Ltd.(b)
  5,323  7,528,479
Willis Towers Watson PLC
  229,133  56,041,349
      892,624,010
Interactive Media & Services — 0.3%
IAC, Inc.(a)(b)
  163,699  7,268,236
Match Group, Inc.(a)
  37,617  1,560,729
Pinterest, Inc., Class A(a)(b)
  977,878  23,742,878
TripAdvisor, Inc.(a)
  203,813  3,664,558
      36,236,401
Internet & Direct Marketing Retail — 0.4%
DoorDash, Inc., Class A(a)(b)
  60,220  2,939,940
eBay, Inc.
  1,005,523  41,699,039
Wayfair, Inc., Class A(a)(b)
  62,146  2,043,982
      46,682,961
IT Services — 2.2%
Affirm Holdings, Inc., Class A(a)(b)
  462,939  4,476,620
Akamai Technologies, Inc.(a)(b)
  329,663  27,790,591
Amdocs Ltd.
  257,257  23,384,661
Broadridge Financial Solutions, Inc.
  22,513  3,019,669
Concentrix Corp.
  91,469  12,180,012
DXC Technology Co.(a)
  489,946  12,983,569
Euronet Worldwide, Inc.(a)(b)
  25,005  2,359,972
Genpact Ltd.
  181,257  8,395,824
Global Payments, Inc.(b)
  572,563  56,866,957
GoDaddy, Inc., Class A(a)(b)
  288,181  21,561,702
Kyndryl Holdings, Inc.(a)(b)
  438,793  4,879,378
Okta, Inc., Class A(a)
  278,153  19,006,195
SS&C Technologies Holdings, Inc.
  469,541  24,444,305
Twilio, Inc., Class A(a)
  230,565  11,288,462
Security   Shares Value
IT Services (continued)
VeriSign, Inc.(a)
      176,333 $  36,225,852
Western Union Co.
      544,040  7,491,431
WEX, Inc.(a)(b)
       25,993  4,253,754
Wix.com Ltd.(a)(b)
       26,518  2,037,378
      282,646,332
Leisure Products — 0.3%
Brunswick Corp.
      126,970  9,151,998
Hasbro, Inc.
      280,899  17,137,648
Mattel, Inc.(a)
      387,704  6,916,639
Peloton Interactive, Inc., Class A(a)(b)
      655,830  5,207,290
Polaris, Inc.
       30,643  3,094,943
      41,508,518
Life Sciences Tools & Services — 0.9%
10X Genomics, Inc., Class A(a)
       19,809  721,840
Agilent Technologies, Inc.
       65,066  9,737,127
Avantor, Inc.(a)
       90,747  1,913,854
Azenta, Inc.
      158,229  9,212,092
Bio-Rad Laboratories, Inc., Class A(a)
       45,581  19,166,355
Charles River Laboratories International, Inc.(a)(b)
        7,292  1,588,927
PerkinElmer, Inc.(b)
      269,379  37,772,323
QIAGEN NV(a)
      483,829  24,128,552
Repligen Corp.(a)
       33,981  5,753,323
Syneos Health, Inc.(a)
      179,695  6,591,213
      116,585,606
Machinery — 5.5%
AGCO Corp.
  115,055  15,956,978
Allison Transmission Holdings, Inc.
  42,333  1,761,053
Crane Holdings Co.
  99,840  10,028,928
Cummins, Inc.
  300,538  72,817,352
Donaldson Co., Inc.
  219,493  12,921,553
Dover Corp.(b)
  298,136  40,370,596
Esab Corp.
  109,013  5,114,890
Flowserve Corp.
  276,498  8,482,959
Fortive Corp.
  753,684  48,424,197
Gates Industrial Corp. PLC(a)(b)
  231,972  2,646,800
Graco, Inc.
  112,404  7,560,293
IDEX Corp.
  132,901  30,345,285
Ingersoll Rand, Inc.
  867,092  45,305,557
ITT, Inc.(b)
  178,343  14,463,617
Middleby Corp.(a)
  106,084  14,204,648
Nordson Corp.(b)
  93,231  22,162,873
Oshkosh Corp.
  139,203  12,276,312
Otis Worldwide Corp.
  780,883  61,150,948
PACCAR, Inc.
  727,547  72,005,327
Parker-Hannifin Corp.
  211,063  61,419,333
Pentair PLC
  348,534  15,677,059
Snap-on, Inc.
  111,916  25,571,687
Stanley Black & Decker, Inc.
  314,294  23,609,765
Timken Co.
  130,128  9,196,146
Westinghouse Air Brake Technologies Corp.(b)
  386,579  38,584,450
Xylem, Inc.
  327,872  36,252,807
      708,311,413
Marine — 0.1%
Kirby Corp.(a)
  126,910  8,166,659
Media — 1.6%
Altice U.S.A., Inc., Class A(a)(b)
  438,415  2,016,709
Cable One, Inc.
  4,810  3,424,046
DISH Network Corp., Class A(a)(b)
  536,836  7,537,177
Fox Corp., Class A, NVS
  632,401  19,206,018
Fox Corp., Class B
  303,953  8,647,463
 
5
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Media (continued)
Interpublic Group of Cos., Inc.
      825,822 $  27,508,131
Liberty Broadband Corp., Class A(a)(b)
       20,526  1,556,897
Liberty Broadband Corp., Class C, NVS(a)(b)
      135,752  10,353,805
Liberty Media Corp.-Liberty SiriusXM, Class A(a)(b)
      116,555  4,581,777
Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a)
      237,199  9,281,597
New York Times Co., Class A
      348,709  11,319,094
News Corp., Class A, NVS
      808,365  14,712,243
News Corp., Class B
      256,350  4,727,094
Nexstar Media Group, Inc., Class A(b)
       70,125  12,273,979
Omnicom Group, Inc.
      433,028  35,322,094
Paramount Global, Class A(b)
       17,321  339,665
Paramount Global, Class B, NVS
    1,227,394  20,718,411
Sirius XM Holdings, Inc.(b)
    1,508,857  8,811,725
      202,337,925
Metals & Mining — 1.5%
Alcoa Corp.
      376,193  17,105,496
Cleveland-Cliffs, Inc.(a)
    1,086,082  17,496,781
Nucor Corp.
      546,750  72,067,117
Reliance Steel & Aluminum Co.
      124,289  25,161,065
Royal Gold, Inc.
      130,866  14,751,216
SSR Mining, Inc.(b)
      438,353  6,868,991
Steel Dynamics, Inc.
      355,588  34,740,948
United States Steel Corp.
      496,916  12,447,746
      200,639,360
Mortgage Real Estate Investment Trusts (REITs) — 0.4%
AGNC Investment Corp.
  1,214,041  12,565,324
Annaly Capital Management, Inc.
  994,649  20,967,201
Rithm Capital Corp.
  925,048  7,557,642
Starwood Property Trust, Inc.
  623,689  11,432,220
      52,522,387
Multiline Retail — 0.5%
Dollar Tree, Inc.(a)
  312,974  44,267,043
Kohl’s Corp.
  247,000  6,236,750
Macy’s, Inc.
  575,556  11,885,232
Nordstrom, Inc.
  36,645  591,450
Ollie’s Bargain Outlet Holdings, Inc.(a)(b)
  126,354  5,918,421
      68,898,896
Multi-Utilities — 3.1%
Ameren Corp.
  547,863  48,715,978
CenterPoint Energy, Inc.
  1,341,187  40,222,198
CMS Energy Corp.
  616,252  39,027,239
Consolidated Edison, Inc.
  756,790  72,129,655
DTE Energy Co.
  411,715  48,388,864
NiSource, Inc.
  864,557  23,706,153
Public Service Enterprise Group, Inc.
  1,062,069  65,072,967
WEC Energy Group, Inc.
  673,126  63,112,294
      400,375,348
Oil, Gas & Consumable Fuels — 4.5%
Antero Midstream Corp.
  716,604  7,732,157
Antero Resources Corp.(a)
  210,637  6,527,641
APA Corp.
  684,638  31,958,902
Cheniere Energy, Inc.
  225,198  33,770,692
Chesapeake Energy Corp.
  257,739  24,322,829
Coterra Energy, Inc.
  1,398,124  34,351,907
Devon Energy Corp.
  709,638  43,649,833
Diamondback Energy, Inc.
  160,343  21,931,716
DT Midstream, Inc.
  207,652  11,474,849
EQT Corp.
  784,311  26,533,241
Security   Shares Value
Oil, Gas & Consumable Fuels (continued)
Hess Corp.
      130,295 $  18,478,437
HF Sinclair Corp.(b)
      287,059  14,895,491
Marathon Oil Corp.
    1,347,384  36,473,685
ONEOK, Inc.
      841,262  55,270,913
Ovintiv, Inc.
      152,553  7,735,963
PDC Energy, Inc.
       86,716  5,504,732
Phillips 66
    1,007,741  104,885,683
Range Resources Corp.
      170,386  4,263,058
Southwestern Energy Co.(a)
    2,179,393  12,749,449
Williams Cos., Inc.
    2,596,861  85,436,727
      587,947,905
Paper & Forest Products — 0.1%
Louisiana-Pacific Corp.
      136,586  8,085,891
Personal Products — 0.0%
Coty, Inc., Class A(a)(b)
      747,773  6,400,937
Pharmaceuticals — 1.0%
Catalent, Inc.(a)(b)
      259,349  11,673,298
Elanco Animal Health, Inc.(a)
      952,195  11,635,823
Jazz Pharmaceuticals PLC(a)
      131,014  20,871,840
Organon & Co.
      542,669  15,156,745
Perrigo Co. PLC
      284,741  9,706,821
Royalty Pharma PLC, Class A
      791,582  31,283,321
Viatris, Inc.
    2,578,905  28,703,213
      129,031,061
Professional Services — 1.7%
CACI International, Inc., Class A(a)
  49,503  14,880,107
Clarivate PLC(a)(b)
  1,012,630  8,445,334
CoStar Group, Inc.(a)
  737,430  56,988,590
Dun & Bradstreet Holdings, Inc.
  536,669  6,579,562
Equifax, Inc.(b)
  129,363  25,142,993
FTI Consulting, Inc.(a)(b)
  41,647  6,613,544
Jacobs Solutions, Inc.
  272,037  32,663,483
KBR, Inc.(b)
  102,279  5,400,331
Leidos Holdings, Inc.
  289,882  30,492,687
ManpowerGroup, Inc.
  108,332  9,014,306
Robert Half International, Inc.(b)
  26,719  1,972,664
Science Applications International Corp.
  117,915  13,080,311
TransUnion
  109,963  6,240,400
      217,514,312
Real Estate Management & Development — 0.5%
CBRE Group, Inc., Class A(a)
  343,534  26,438,377
Howard Hughes Corp.(a)(b)
  78,625  6,008,522
Jones Lang LaSalle, Inc.(a)
  101,588  16,190,079
Opendoor Technologies, Inc.(a)(b)
  699,516  811,438
WeWork, Inc., Class A(a)(b)
  454,590  650,064
Zillow Group, Inc., Class A(a)
  114,518  3,574,107
Zillow Group, Inc., Class C, NVS(a)(b)
  315,417  10,159,582
      63,832,169
Road & Rail — 0.5%
Avis Budget Group, Inc.(a)
  54,344  8,908,612
Hertz Global Holdings, Inc.(a)(b)
  401,747  6,182,886
JB Hunt Transport Services, Inc.(b)
  19,119  3,333,589
Knight-Swift Transportation Holdings, Inc.
  332,618  17,432,509
Landstar System, Inc.
  8,361  1,362,007
Lyft, Inc., Class A(a)
  139,645  1,538,888
RXO, Inc.(a)
  200,610  3,450,492
Ryder System, Inc.
  103,371  8,638,715
Schneider National, Inc., Class B
  114,578  2,681,125
U-Haul Holding Co.
  19,272  1,159,982
 
6
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Road & Rail (continued)
U-Haul Holding Co., NVS
      173,535 $  9,540,954
XPO, Inc.(a)
      200,610  6,678,307
      70,908,066
Semiconductors & Semiconductor Equipment — 1.3%
Cirrus Logic, Inc.(a)(b)
      117,566  8,756,316
First Solar, Inc.(a)(b)
      226,069  33,862,876
GLOBALFOUNDRIES, Inc.(a)(b)
      101,765  5,484,116
Microchip Technology, Inc.
      166,653  11,707,373
MKS Instruments, Inc.(b)
      121,699  10,311,556
ON Semiconductor Corp.(a)
      347,439  21,669,770
Qorvo, Inc.(a)
      215,204  19,506,091
Skyworks Solutions, Inc.
      343,744  31,325,391
Teradyne, Inc.(b)
       31,203  2,725,582
Wolfspeed, Inc.(a)
      262,056  18,092,346
      163,441,417
Software — 1.5%
ANSYS, Inc.(a)
       87,623  21,168,841
Bill.com Holdings, Inc.(a)(b)
      210,464  22,932,157
Black Knight, Inc.(a)
      297,537  18,372,910
CCC Intelligent Solutions Holdings, Inc.(a)(b)
      216,866  1,886,734
Ceridian HCM Holding, Inc.(a)(b)
      236,811  15,191,426
Coupa Software, Inc.(a)
       71,667  5,673,876
Dolby Laboratories, Inc., Class A
      130,610  9,213,229
DoubleVerify Holdings, Inc.(a)(b)
  20,255  444,800
Dropbox, Inc., Class A(a)
  39,939  893,835
Gen Digital, Inc.
  764,251  16,377,899
Guidewire Software, Inc.(a)
  174,394  10,910,089
Informatica, Inc., Class A(a)(b)
  63,051  1,027,101
Jamf Holding Corp.(a)(b)
  23,363  497,632
Manhattan Associates, Inc.(a)
  51,320  6,230,248
nCino, Inc.(a)(b)
  117,758  3,113,522
NCR Corp.(a)
  258,215  6,044,813
Nutanix, Inc., Class A(a)
  234,084  6,097,888
Paycor HCM, Inc.(a)(b)
  116,536  2,851,636
Procore Technologies, Inc.(a)
  43,509  2,052,755
SentinelOne, Inc., Class A(a)(b)
  124,921  1,822,597
Teradata Corp.(a)(b)
  100,050  3,367,683
Tyler Technologies, Inc.(a)
  11,343  3,657,097
UiPath, Inc., Class A(a)
  730,020  9,278,554
Unity Software, Inc.(a)(b)
  172,299  4,926,028
Zoom Video Communications, Inc., Class A(a)
  267,095  18,093,015
      192,126,365
Specialty Retail — 2.1%
Advance Auto Parts, Inc.
  117,774  17,316,311
AutoNation, Inc.(a)(b)
  71,740  7,697,702
AutoZone, Inc.(a)
  3,692  9,105,136
Bath & Body Works, Inc.
  486,883  20,517,250
Best Buy Co., Inc.
  294,076  23,587,836
Burlington Stores, Inc.(a)(b)
  8,926  1,809,836
CarMax, Inc.(a)(b)
  297,010  18,084,939
Dick’s Sporting Goods, Inc.
  113,124  13,607,686
GameStop Corp., Class A(a)(b)
  568,651  10,497,297
Gap, Inc.
  421,893  4,758,953
Leslie’s, Inc.(a)(b)
  41,241  503,553
Lithia Motors, Inc., Class A(b)
  57,830  11,840,114
O’Reilly Automotive, Inc.(a)
  78,287  66,076,577
Penske Automotive Group, Inc.(b)
  54,892  6,308,738
Petco Health & Wellness Co., Inc.(a)(b)
  168,623  1,598,546
RH(a)(b)
  25,333  6,768,724
Ross Stores, Inc.
  418,022  48,519,813
Security   Shares Value
Specialty Retail (continued)
Victoria’s Secret & Co.(a)
       49,384 $  1,766,959
Williams-Sonoma, Inc.
       30,443  3,498,510
      273,864,480
Technology Hardware, Storage & Peripherals — 0.9%
Dell Technologies, Inc., Class C
      455,422  18,317,073
Hewlett Packard Enterprise Co.
    2,744,176  43,797,049
HP, Inc.
    1,163,860  31,272,918
Western Digital Corp.(a)
      676,478  21,342,881
      114,729,921
Textiles, Apparel & Luxury Goods — 0.8%
Capri Holdings Ltd.(a)
      267,234  15,317,853
Carter’s, Inc.
       80,672  6,018,938
Columbia Sportswear Co.(b)
       77,247  6,765,292
Deckers Outdoor Corp.(a)
        6,630  2,646,431
Hanesbrands, Inc.
      751,487  4,779,457
PVH Corp.(b)
      138,049  9,744,879
Ralph Lauren Corp., Class A
       86,268  9,115,940
Skechers U.S.A., Inc., Class A(a)
      241,466  10,129,499
Tapestry, Inc.(b)
      445,710  16,972,637
Under Armour, Inc., Class A(a)
      395,977  4,023,126
Under Armour, Inc., Class C, NVS(a)
      422,081  3,764,962
VF Corp.
      744,457  20,554,458
      109,833,472
Thrifts & Mortgage Finance — 0.2%
MGIC Investment Corp.
  644,637  8,380,281
New York Community Bancorp, Inc., Class A
  1,423,482  12,241,945
Rocket Cos., Inc., Class A(b)
  109,151  764,057
TFS Financial Corp.
  111,161  1,601,830
UWM Holdings Corp., Class A
  29,584  97,923
      23,086,036
Trading Companies & Distributors — 0.6%
Air Lease Corp., Class A
  221,419  8,506,918
Core & Main, Inc., Class A(a)(b)
  98,574  1,903,464
MSC Industrial Direct Co., Inc., Class A
  98,363  8,036,257
SiteOne Landscape Supply, Inc.(a)(b)
  37,659  4,418,154
United Rentals, Inc.(a)
  80,764  28,705,141
Univar Solutions, Inc.(a)(b)
  342,135  10,879,893
Watsco, Inc.
  32,978  8,224,713
WESCO International, Inc.(a)
  45,030  5,637,756
      76,312,296
Water Utilities — 0.6%
American Water Works Co., Inc.(b)
  388,128  59,158,470
Essential Utilities, Inc.
  492,686  23,515,903
      82,674,373
Total Long-Term Investments — 99.7%

(Cost: $12,061,839,258)
12,944,213,739
 
7
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
(Percentages shown are based on Net Assets)
Security   Shares Value
Short-Term Securities
Money Market Funds — 5.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 4.53%(c)(d)(e)
  631,271,012 $  631,460,393
BlackRock Cash Funds: Treasury, SL Agency Shares, 4.12%(c)(d)
   24,569,691  24,569,691
Total Short-Term Securities — 5.1%

(Cost: $655,694,168)
656,030,084
Total Investments — 104.8%

(Cost: $12,717,533,426)
13,600,243,823
Liabilities in Excess of Other Assets — (4.8)%
(619,214,004)
Net Assets — 100.0%
$  12,981,029,819
(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.
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
$  397,536,030 $  233,621,345(a) $  — $  28,139   $  274,879   $  631,460,393 631,271,012 $  3,469,354(b)   $  —
BlackRock Cash Funds: Treasury, SL Agency Shares
 21,620,000  2,949,691(a)  —  —    —    24,569,691 24,569,691  292,415    13
        $  28,139   $  274,879   $  656,030,084   $  3,761,769   $  13
(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.
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/
Unrealized
Appreciation
(Depreciation)
Long Contracts        
S&P 500 E-Mini Index
49 03/17/23 $  9,459 $  (261,894)
S&P MidCap 400 E-Mini Index
106 03/17/23  25,892  (602,217)
        $  (864,111)
8
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
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.
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         
Aerospace & Defense
$  172,651,826 $  — $  — $  172,651,826
Air Freight & Logistics
 49,338,727  —  —  49,338,727
Airlines
 107,020,152  —  —  107,020,152
Auto Components
 92,682,585  —  —  92,682,585
Automobiles
 41,006,885  —  —  41,006,885
Banks
 596,002,191  —  —  596,002,191
Beverages
 32,631,386  —  —  32,631,386
Biotechnology
 183,531,671  —  —  183,531,671
Building Products
 222,984,867  —  —  222,984,867
Capital Markets
 601,723,494  —  —  601,723,494
Chemicals
 515,383,322  —  —  515,383,322
Commercial Services & Supplies
 104,114,073  —  —  104,114,073
Communications Equipment
 160,713,197  —  —  160,713,197
Construction & Engineering
 88,025,096  —  —  88,025,096
Construction Materials
 67,793,966  —  —  67,793,966
Consumer Finance
 136,637,589  —  —  136,637,589
Containers & Packaging
 192,883,113  295,557  —  193,178,670
Distributors
 75,665,111  —  —  75,665,111
Diversified Consumer Services
 41,179,088  —  —  41,179,088
Diversified Financial Services
 51,156,312  —  —  51,156,312
Diversified Telecommunication Services
 24,731,276  —  —  24,731,276
Electric Utilities
 592,027,879  —  —  592,027,879
Electrical Equipment
 195,662,702  —  —  195,662,702
Electronic Equipment, Instruments & Components
 230,223,590  —  —  230,223,590
Energy Equipment & Services
 117,924,723  —  —  117,924,723
Entertainment
 139,019,375  —  —  139,019,375
Equity Real Estate Investment Trusts (REITs)
 1,306,511,014  —  —  1,306,511,014
Food & Staples Retailing
 127,273,504  —  —  127,273,504
Food Products
 324,414,466  —  —  324,414,466
Gas Utilities
 60,362,997  —  —  60,362,997
Health Care Equipment & Supplies
 273,884,792  —  —  273,884,792
Health Care Providers & Services
 251,606,041  —  —  251,606,041
Health Care Technology
 13,385,526  —  —  13,385,526
Hotels, Restaurants & Leisure
 291,962,607  —  —  291,962,607
9
Schedule of Investments (unaudited)  (continued)
December 31, 2022
iShares® Russell Mid-Cap Value ETF
Fair Value Hierarchy as of Period End (continued)
  Level 1   Level 2   Level 3   Total
Common Stocks (continued)              
Household Durables
$  197,541,379   $  —   $  —   $  197,541,379
Household Products
 37,768,942    —    —    37,768,942
Independent Power and Renewable Electricity Producers
 49,168,201    —    —    49,168,201
Insurance
 892,624,010    —    —    892,624,010
Interactive Media & Services
 36,236,401    —    —    36,236,401
Internet & Direct Marketing Retail
 46,682,961    —    —    46,682,961
IT Services
 282,646,332    —    —    282,646,332
Leisure Products
 41,508,518    —    —    41,508,518
Life Sciences Tools & Services
 116,585,606    —    —    116,585,606
Machinery
 708,311,413    —    —    708,311,413
Marine
 8,166,659    —    —    8,166,659
Media
 202,337,925    —    —    202,337,925
Metals & Mining
 200,639,360    —    —    200,639,360
Mortgage Real Estate Investment Trusts (REITs)
 52,522,387    —    —    52,522,387
Multiline Retail
 68,898,896    —    —    68,898,896
Multi-Utilities
 400,375,348    —    —    400,375,348
Oil, Gas & Consumable Fuels
 587,947,905    —    —    587,947,905
Paper & Forest Products
 8,085,891    —    —    8,085,891
Personal Products
 6,400,937    —    —    6,400,937
Pharmaceuticals
 129,031,061    —    —    129,031,061
Professional Services
 217,514,312    —    —    217,514,312
Real Estate Management & Development
 63,832,169    —    —    63,832,169
Road & Rail
 70,908,066    —    —    70,908,066
Semiconductors & Semiconductor Equipment
 163,441,417    —    —    163,441,417
Software
 192,126,365    —    —    192,126,365
Specialty Retail
 273,864,480    —    —    273,864,480
Technology Hardware, Storage & Peripherals
 114,729,921    —    —    114,729,921
Textiles, Apparel & Luxury Goods
 109,833,472    —    —    109,833,472
Thrifts & Mortgage Finance
 23,086,036    —    —    23,086,036
Trading Companies & Distributors
 76,312,296    —    —    76,312,296
Water Utilities
 82,674,373    —    —    82,674,373
Short-Term Securities              
Money Market Funds
 656,030,084    —    —    656,030,084
  $  13,599,948,266   $  295,557   $  —   $  13,600,243,823
Derivative Financial Instruments(a)              
Liabilities              
Equity Contracts
$  (864,111)   $  —   $  —   $  (864,111)
(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
REIT Real Estate Investment Trust
S&P Standard & Poor’s
10