iShares

®

MSCI

USA

Quality

Factor

ETF

Schedule

of

Investments

(unaudited)

April

30,

2024

(Percentages

shown

are

based

on

Net

Assets)

1

Schedule

of

Investments

Security

Shares

Value

a

Common

Stocks

Aerospace

&

Defense

 — 1.3%

Lockheed

Martin

Corp.

.....................

1,189,144

$

552,868,720

a

Air

Freight

&

Logistics

 — 0.2%

Expeditors

International

of

Washington,

Inc.

(a)

......

622,292

69,267,323

a

Beverages

 — 3.3%

Coca-Cola

Co.

(The)

......................

10,224,927

631,593,741

Monster

Beverage

Corp.

(b)

...................

2,052,863

109,725,527

PepsiCo,

Inc.

...........................

3,464,140

609,376,868

1,350,696,136

a

Biotechnology

 — 1.7%

AbbVie,

Inc.

............................

3,073,679

499,903,153

Vertex

Pharmaceuticals,

Inc.

(b)

................

481,642

189,193,794

689,096,947

a

Building

Products

 — 0.3%

Lennox

International,

Inc.

...................

256,905

119,054,915

a

Capital

Markets

 — 1.9%

Ameriprise

Financial,

Inc.

...................

384,859

158,481,088

BlackRock,

Inc.

(c)

.........................

467,011

352,425,181

FactSet

Research

Systems,

Inc.

...............

125,498

52,318,861

LPL

Financial

Holdings,

Inc.

..................

316,381

85,147,619

MarketAxess

Holdings,

Inc.

..................

135,444

27,100,990

SEI

Investments

Co.

.......................

397,990

26,247,440

T

Rowe

Price

Group,

Inc.

...................

763,212

83,625,139

785,346,318

a

Chemicals

 — 1.9%

Air

Products

and

Chemicals,

Inc.

..............

580,515

137,198,915

Albemarle

Corp.

.........................

292,883

35,236,754

CF

Industries

Holdings,

Inc.

..................

670,402

52,941,646

FMC

Corp.

.............................

296,276

17,483,247

Linde

PLC

.............................

1,244,468

548,760,609

791,621,171

a

Commercial

Services

&

Supplies

 — 0.6%

Cintas

Corp.

............................

315,057

207,414,626

Rollins,

Inc.

.............................

1,033,327

46,045,051

253,459,677

a

Communications

Equipment

 — 1.8%

Arista

Networks,

Inc.

(b)

.....................

738,502

189,470,073

Cisco

Systems,

Inc.

.......................

11,532,263

541,785,716

731,255,789

a

Consumer

Staples

Distribution

&

Retail

 — 2.1%

Costco

Wholesale

Corp.

....................

1,205,548

871,490,649

a

Containers

&

Packaging

 — 0.1%

Packaging

Corp.

of

America

.................

239,474

41,424,213

a

Distributors

 — 0.3%

Pool

Corp.

.............................

329,419

119,424,270

a

Electronic

Equipment,

Instruments

&

Components

 — 0.5%

Amphenol

Corp.,

Class

A

...................

1,363,880

164,715,787

Keysight

Technologies,

Inc.

(a)(b)

................

416,773

61,657,398

226,373,185

a

Security

Shares

Value

a

Entertainment

 — 1.3%

Electronic

Arts,

Inc.

.......................

557,865

$

70,748,439

Netflix,

Inc.

(b)

............................

867,675

477,776,562

548,525,001

a

Financial

Services

 — 8.7%

Jack

Henry

&

Associates,

Inc.

................

263,774

42,913,392

Mastercard,

Inc.,

Class

A

....................

3,739,346

1,687,192,915

Visa,

Inc.,

Class

A

........................

7,056,087

1,895,335,529

3,625,441,836

a

Food

Products

 — 0.4%

Archer-Daniels-Midland

Co.

..................

1,132,820

66,451,221

Hershey

Co.

(The)

........................

431,268

83,631,491

Lamb

Weston

Holdings,

Inc.

.................

346,722

28,895,811

178,978,523

a

Gas

Utilities

 — 0.4%

Atmos

Energy

Corp.

.......................

1,388,958

163,758,148

a

Ground

Transportation

 — 0.3%

Old

Dominion

Freight

Line,

Inc.

...............

801,781

145,691,626

a

Health

Care

Equipment

&

Supplies

 — 0.8%

Edwards

Lifesciences

Corp.

(b)

................

1,301,358

110,185,982

IDEXX

Laboratories,

Inc.

(a)(b)

.................

216,556

106,710,135

ResMed,

Inc.

...........................

267,750

57,295,822

Solventum

Corp.

(b)

........................

858,738

55,826,557

330,018,496

a

Health

Care

Providers

&

Services

 — 2.5%

Cencora,

Inc.

...........................

740,047

176,908,236

Molina

Healthcare,

Inc.

(a)(b)

...................

113,331

38,770,535

UnitedHealth

Group,

Inc.

....................

1,714,526

829,316,226

1,044,994,997

a

Health

Care

Technology

 — 0.1%

Veeva

Systems,

Inc.,

Class

A

(b)

...............

272,371

54,081,986

a

Hotels,

Restaurants

&

Leisure

 — 1.7%

Chipotle

Mexican

Grill,

Inc.

(b)

.................

221,837

700,916,185

a

Household

Durables

 — 3.1%

DR

Horton,

Inc.

..........................

2,467,602

351,608,609

Garmin

Ltd.

.............................

1,230,462

177,764,845

Lennar

Corp.,

Class

A

......................

1,907,130

289,159,051

NVR,

Inc.

(b)

.............................

32,874

244,544,755

PulteGroup,

Inc.

.........................

1,944,189

216,621,538

1,279,698,798

a

Industrial

Conglomerates

 — 0.8%

3M

Co.

................................

3,434,848

331,497,181

a

Industrial

REITs

 — 0.7%

Prologis,

Inc.

............................

2,673,671

272,848,126

a

Insurance

 — 1.3%

Aflac,

Inc.

..............................

1,953,936

163,446,746

American

Financial

Group,

Inc.

...............

225,955

28,865,751

Erie

Indemnity

Co.,

Class

A,

NVS

..............

96,210

36,815,719

Globe

Life,

Inc.

..........................

301,772

22,985,973

Marsh

&

McLennan

Companies,

Inc.

............

1,545,222

308,163,624

560,277,813

a

Interactive

Media

&

Services

 — 8.0%

Alphabet,

Inc.,

Class

A

(b)

....................

5,221,198

849,906,611

Alphabet,

Inc.,

Class

C,

NVS

(b)

................

4,594,561

756,448,523

Schedule

of

Investments

(unaudited)

(continued)

April

30,

2024

iShares

®

MSCI

USA

Quality

Factor

ETF

(Percentages

shown

are

based

on

Net

Assets)

2

Security

Shares

Value

a

Interactive

Media

&

Services

(continued)

Meta

Platforms,

Inc.,

Class

A

.................

3,956,443

$

1,701,943,085

3,308,298,219

a

IT

Services

 — 1.4%

Accenture

PLC,

Class

A

....................

1,882,144

566,355,951

a

Life

Sciences

Tools

&

Services

 — 0.4%

Agilent

Technologies,

Inc.

(a)

..................

552,477

75,711,448

Waters

Corp.

(a)(b)

.........................

126,270

39,022,481

West

Pharmaceutical

Services,

Inc.

............

138,832

49,629,663

164,363,592

a

Machinery

 — 0.9%

Graco,

Inc.

.............................

580,581

46,562,596

Illinois

Tool

Works,

Inc.

.....................

1,296,180

316,410,500

362,973,096

a

Media

 — 0.2%

Fox

Corp.,

Class

A,

NVS

....................

503,409

15,610,713

Fox

Corp.,

Class

B

........................

284,500

8,159,460

Interpublic

Group

of

Companies,

Inc.

(The)

.......

821,123

24,994,984

Omnicom

Group,

Inc.

......................

450,677

41,840,853

90,606,010

a

Metals

&

Mining

 — 0.2%

Reliance,

Inc.

...........................

152,392

43,389,050

Steel

Dynamics,

Inc.

.......................

382,951

49,829,584

93,218,634

a

Multi-Utilities

 — 1.7%

Public

Service

Enterprise

Group,

Inc.

...........

4,644,389

320,834,392

Sempra

...............................

5,543,113

397,053,184

717,887,576

a

Oil,

Gas

&

Consumable

Fuels

 — 4.0%

ConocoPhillips

..........................

8,149,941

1,023,795,588

Coterra

Energy,

Inc.

.......................

5,018,723

137,312,261

Devon

Energy

Corp.

.......................

4,145,910

212,187,674

EQT

Corp.

.............................

2,930,511

117,484,186

HF

Sinclair

Corp.

.........................

831,685

45,118,911

Texas

Pacific

Land

Corp.

....................

206,035

118,737,971

1,654,636,591

a

Personal

Care

Products

 — 0.2%

Kenvue,

Inc.

............................

3,829,526

72,071,679

a

Pharmaceuticals

 — 6.7%

Eli

Lilly

&

Co.

...........................

2,124,144

1,659,168,878

Johnson

&

Johnson

.......................

4,967,838

718,299,696

Pfizer,

Inc.

.............................

9,807,564

251,269,790

Zoetis,

Inc.,

Class

A

.......................

892,219

142,076,954

2,770,815,318

a

Professional

Services

 — 2.4%

Automatic

Data

Processing,

Inc.

...............

2,652,903

641,710,707

Paychex,

Inc.

...........................

1,587,691

188,633,568

Robert

Half,

Inc.

.........................

368,445

25,474,287

Verisk

Analytics,

Inc.

.......................

651,462

141,992,657

997,811,219

a

Real

Estate

Management

&

Development

 — 0.6%

CBRE

Group,

Inc.,

Class

A

(a)(b)

................

1,121,741

97,468,075

CoStar

Group,

Inc.

(a)(b)

......................

1,448,775

132,606,376

230,074,451

a

Security

Shares

Value

a

Residential

REITs

 — 0.4%

AvalonBay

Communities,

Inc.

................

429,680

$

81,454,437

Equity

Residential

........................

970,254

62,484,358

Mid-America

Apartment

Communities,

Inc.

........

308,704

40,131,520

184,070,315

a

Semiconductors

&

Semiconductor

Equipment

 — 16.6%

Applied

Materials,

Inc.

.....................

2,559,472

508,439,113

Broadcom,

Inc.

..........................

1,251,590

1,627,404,929

KLA

Corp.

..............................

467,759

322,421,601

Lam

Research

Corp.

......................

440,762

394,221,940

Monolithic

Power

Systems,

Inc.

...............

120,638

80,746,633

NVIDIA

Corp.

...........................

3,292,209

2,844,534,420

QUALCOMM,

Inc.

........................

3,089,490

512,391,917

Teradyne,

Inc.

...........................

387,273

45,047,595

Texas

Instruments,

Inc.

.....................

3,028,088

534,215,285

6,869,423,433

a

Software

 — 6.7%

Adobe,

Inc.

(b)

............................

1,257,104

581,825,444

Cadence

Design

Systems,

Inc.

(a)(b)

.............

761,425

209,871,573

Fortinet,

Inc.

(b)

...........................

3,660,882

231,294,525

Manhattan

Associates,

Inc.

(b)

.................

302,155

62,262,059

Microsoft

Corp.

..........................

4,396,907

1,711,847,802

2,797,101,403

a

Specialized

REITs

 — 0.6%

Public

Storage

...........................

888,363

230,485,780

a

Specialty

Retail

 — 1.6%

Best

Buy

Co.,

Inc.

........................

1,741,358

128,233,603

Dick's

Sporting

Goods,

Inc.

..................

451,405

90,705,321

Tractor

Supply

Co.

........................

923,013

252,056,390

Ulta

Beauty,

Inc.

(b)

........................

487,815

197,487,024

668,482,338

a

Technology

Hardware,

Storage

&

Peripherals

 — 4.0%

Apple,

Inc.

.............................

8,668,456

1,476,498,111

NetApp,

Inc.

............................

680,487

69,552,576

Super

Micro

Computer,

Inc.

(b)

.................

131,225

112,696,030

1,658,746,717

a

Textiles,

Apparel

&

Luxury

Goods

 — 3.7%

Deckers

Outdoor

Corp.

(b)

....................

245,163

200,658,560

Lululemon

Athletica,

Inc.

(b)

...................

1,181,938

426,206,843

Nike,

Inc.,

Class

B

........................

10,017,711

924,234,017

1,551,099,420

a

Trading

Companies

&

Distributors

 — 1.4%

Fastenal

Co.

............................

2,239,902

152,178,942

Ferguson

PLC

...........................

738,242

154,956,996

Watsco,

Inc.

............................

116,743

52,268,176

WW

Grainger,

Inc.

........................

219,051

201,822,639

561,226,753

a

Total

Long-Term

Investments — 99.8%

(Cost:

$34,189,176,211)

..............................

41,387,856,524

iShares

®

MSCI

USA

Quality

Factor

ETF

Schedule

of

Investments

(unaudited)

(continued)

April

30,

2024

(Percentages

shown

are

based

on

Net

Assets)

3

Schedule

of

Investments

Derivative

Financial

Instruments

Outstanding

as

of

Period

End

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).

Security

Shares

Value

a

Short-Term

Securities

Money

Market

Funds

 — 

0.4%

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares,

5.49%

(c)(d)(e)

......................

79,294,961

$

79,318,750

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares,

5.28%

(c)(d)

............................

56,852,135

56,852,135

a

Total

Short-Term

Securities — 0.4%

(Cost:

$136,149,164)

................................

136,170,885

Total

Investments

—

100.2%

(Cost:

$34,325,325,375)

..............................

41,524,027,409

Liabilities

in

Excess

of

Other

Assets

—

(0.2)%

...............

(65,030,139)

Net

Assets

—

100.0%

.................................

$

41,458,997,270

(a)

All

or

a

portion

of

this

security

is

on

loan.

(b)

Non-income

producing

security.

(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

April

30,

2024

for

purposes

of

Section

2(a)(3)

of

the

Investment

Company

Act

of

1940,

as

amended,

were

as

follows:

Affiliated

Issuer

Value

at

07/31/23

Purchases

at

Cost

Proceeds

from

Sale

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

04/30/24

  Shares

Held

at

04/30/24

Income

  Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

$

190,194,678

$

—

$

(110,957,355

)

(a)

$

95,141

$

(13,714

)

$

79,318,750

79,294,961

$

1,208,531

(b)

$

—

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

......

55,278,792

1,573,343

(a)

—

—

—

56,852,135

56,852,135

2,234,832

—

BlackRock,

Inc.

..

269,297,526

114,989,836

(39,775,520

)

6,700,354

1,212,985

352,425,181

467,011

6,229,233

—

$

6,795,495

$

1,199,271

$

488,596,066

$

9,672,596

$

—

(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

E-Mini

S&P

500

Index

..................................................................

256

06/21/24

$

64,858

$

(1,348,838

)

Schedule

of

Investments

(unaudited)

(continued)

April

30,

2024

iShares

®

MSCI

USA

Quality

Factor

ETF

4

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

.........................................

$

41,387,856,524

‌

$

—

‌

$

—

‌

$

41,387,856,524

‌

Short-Term

Securities

Money

Market

Funds

......................................

136,170,885

‌

—

‌

—

‌

136,170,885

‌

$

41,524,027,409

‌

$

—

‌

$

—

‌

$

41,524,027,409

‌

Derivative

Financial

Instruments

(a)

Liabilities

Equity

Contracts

...........................................

$

(1,348,838

)

$

—

‌

$

—

‌

$

(1,348,838

)

a

(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

Fair

Value

Hierarchy

as

of

Period

End

(continued)