Schedule

of

Investments

(unaudited)

June

30,

2024

iShares

®

North

American

Natural

Resources

ETF

1

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Common

Stocks

Construction

Materials

—

3.2%

Eagle

Materials,

Inc.

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

7,242

$

1,574,845

Knife

River

Corp.

(a)

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

11,861

831,931

Martin

Marietta

Materials,

Inc.

...........

12,933

7,007,099

Summit

Materials,

Inc.

,

Class

A

(a)

.........

25,366

928,649

Vulcan

Materials

Co.

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

27,748

6,900,373

17,242,897

Containers

&

Packaging

—

5.7%

Amcor

plc

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

302,822

2,961,599

AptarGroup,

Inc.

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

13,884

1,955,006

Avery

Dennison

Corp.

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

16,901

3,695,404

Ball

Corp.

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

65,120

3,908,502

Berry

Global

Group,

Inc.

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

24,039

1,414,695

Crown

Holdings,

Inc.

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

24,998

1,859,601

Graphic

Packaging

Holding

Co.

..........

64,383

1,687,479

Greif,

Inc.

,

Class

A,

NVS

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

5,404

310,568

International

Paper

Co.

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

72,885

3,144,988

O-I

Glass,

Inc.

(a)

(b)

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

32,626

363,127

Packaging

Corp.

of

America

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

18,706

3,414,967

Pactiv

Evergreen,

Inc.

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

8,126

91,986

Sealed

Air

Corp.

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

31,315

1,089,449

Silgan

Holdings,

Inc.

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

17,002

719,695

Sonoco

Products

Co.

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

20,586

1,044,122

WestRock

Co.

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

54,087

2,718,413

30,379,601

Energy

Equipment

&

Services

—

8.1%

Archrock,

Inc.

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

28,815

582,639

Atlas

Energy

Solutions,

Inc.

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

12,199

243,126

Baker

Hughes

Co.

,

Class

A

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

209,388

7,364,176

Cactus,

Inc.

,

Class

A

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

13,766

726,019

ChampionX

Corp.

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

39,891

1,324,780

Expro

Group

Holdings

NV

(a)

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

19,168

439,331

Halliburton

Co.

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

185,743

6,274,399

Helmerich

&

Payne,

Inc.

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

20,715

748,640

Kodiak

Gas

Services,

Inc.

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

4,416

120,380

Liberty

Energy,

Inc.

,

Class

A

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

31,774

663,759

Noble

Corp.

plc

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

23,639

1,055,481

NOV,

Inc.

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

83,153

1,580,739

Patterson-UTI

Energy,

Inc.

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

64,805

671,380

Schlumberger

NV

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

299,886

14,148,621

TechnipFMC

plc

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

90,522

2,367,150

Tidewater,

Inc.

(a)

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

10,170

968,286

Transocean

Ltd.

(a)

(b)

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

151,110

808,438

Valaris

Ltd.

(a)

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

13,047

972,002

Weatherford

International

plc

(a)

...........

15,373

1,882,424

42,941,770

Metals

&

Mining

—

12.1%

Agnico

Eagle

Mines

Ltd.

(b)

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

104,779

6,852,547

Alamos

Gold,

Inc.

,

Class

A

(b)

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

83,381

1,307,414

Alcoa

Corp.

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

37,756

1,501,934

B2Gold

Corp.

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

273,970

739,719

Barrick

Gold

Corp.

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

368,346

6,144,011

Eldorado

Gold

Corp.

(a)

(b)

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

42,733

632,021

First

Majestic

Silver

Corp.

(b)

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

60,182

356,277

Franco-Nevada

Corp.

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

40,348

4,782,045

Freeport-McMoRan,

Inc.

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

301,387

14,647,408

Hecla

Mining

Co.

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

120,315

583,528

Hudbay

Minerals,

Inc.

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

81,258

735,385

Kinross

Gold

Corp.

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

257,924

2,145,928

MP

Materials

Corp.

,

Class

A

(a)

(b)

..........

28,055

357,140

Newmont

Corp.

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

241,938

10,129,944

Novagold

Resources,

Inc.

(a)

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

50,631

175,183

Security

Shares

Shares

Value

Metals

&

Mining

(continued)

Osisko

Gold

Royalties

Ltd.

(b)

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

38,963

$

607,044

Pan

American

Silver

Corp.

(b)

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

76,307

1,516,983

Royal

Gold,

Inc.

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

13,772

1,723,703

Teck

Resources

Ltd.

,

Class

B

(b)

..........

96,583

4,626,326

Wheaton

Precious

Metals

Corp.

..........

95,109

4,985,614

64,550,154

Oil,

Gas

&

Consumable

Fuels

—

70.2%

Antero

Midstream

Corp.

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

71,587

1,055,192

Antero

Resources

Corp.

(a)

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

61,373

2,002,601

APA

Corp.

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

75,622

2,226,312

Baytex

Energy

Corp.

(b)

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

136,849

476,234

California

Resources

Corp.

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

13,431

714,798

Cameco

Corp.

(b)

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

91,189

4,486,499

Canadian

Natural

Resources

Ltd.

.........

449,886

16,015,942

Cenovus

Energy,

Inc.

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

276,675

5,439,430

Cheniere

Energy,

Inc.

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

48,028

8,396,735

Chesapeake

Energy

Corp.

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

23,403

1,923,493

Chevron

Corp.

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

340,573

53,272,429

Chord

Energy

Corp.

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

13,061

2,190,068

Civitas

Resources,

Inc.

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

19,314

1,332,666

CNX

Resources

Corp.

(a)

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

32,107

780,200

Comstock

Resources,

Inc.

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

20,204

209,717

ConocoPhillips

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

211,236

24,161,174

CONSOL

Energy,

Inc.

(a)

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

5,557

566,981

Coterra

Energy,

Inc.

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

156,201

4,165,881

CVR

Energy,

Inc.

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

6,181

165,465

Devon

Energy

Corp.

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

132,599

6,285,193

Diamondback

Energy,

Inc.

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

37,418

7,490,709

DT

Midstream,

Inc.

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

20,346

1,445,176

Enbridge,

Inc.

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

446,042

15,874,635

EOG

Resources,

Inc.

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

120,579

15,177,279

EQT

Corp.

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

92,662

3,426,641

Equitrans

Midstream

Corp.

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

90,860

1,179,363

Exxon

Mobil

Corp.

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

473,039

54,456,250

Gulfport

Energy

Corp.

(a)

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

2,033

306,983

Hess

Corp.

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

57,987

8,554,242

HF

Sinclair

Corp.

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

31,402

1,674,983

International

Seaways,

Inc.

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

7,965

470,970

Kinder

Morgan,

Inc.

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

405,110

8,049,536

Kosmos

Energy

Ltd.

(a)

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

98,797

547,335

Magnolia

Oil

&

Gas

Corp.

,

Class

A

........

37,907

960,563

Marathon

Oil

Corp.

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

118,361

3,393,410

Marathon

Petroleum

Corp.

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

73,922

12,823,988

Matador

Resources

Co.

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

24,314

1,449,114

Murphy

Oil

Corp.

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

30,370

1,252,459

New

Fortress

Energy,

Inc.

,

Class

A

........

13,667

300,401

NexGen

Energy

Ltd.

(a)

(b)

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

95,008

663,156

Northern

Oil

&

Gas,

Inc.

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

19,176

712,772

Occidental

Petroleum

Corp.

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

139,518

8,793,819

ONEOK,

Inc.

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

122,454

9,986,124

Ovintiv,

Inc.

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

52,267

2,449,754

PBF

Energy,

Inc.

,

Class

A

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

22,109

1,017,456

Peabody

Energy

Corp.

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

22,141

489,759

Pembina

Pipeline

Corp.

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

121,579

4,508,149

Permian

Resources

Corp.

,

Class

A

........

107,948

1,743,360

Phillips

66

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

88,948

12,556,789

Range

Resources

Corp.

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

50,834

1,704,464

SM

Energy

Co.

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

24,101

1,041,886

Southwestern

Energy

Co.

(a)

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

231,038

1,554,886

Suncor

Energy,

Inc.

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

269,779

10,278,580

Targa

Resources

Corp.

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

46,518

5,990,588

TC

Energy

Corp.

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

217,673

8,249,807

Texas

Pacific

Land

Corp.

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

3,910

2,870,996

Uranium

Energy

Corp.

(a)

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

84,673

508,885

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2024

iShares

®

North

American

Natural

Resources

ETF

2

(Percentages

shown

are

based

on

Net

Assets)

Affiliates

Investments

in

issuers

considered

to

be

affiliate(s)

of

the

Fund

during

the period

ended

June

30,

2024

for

purposes

of

Section

2(a)(3)

of

the

Investment

Company

Act

of

1940,

as

amended,

were

as

follows:

Security

Shares

Shares

Value

Oil,

Gas

&

Consumable

Fuels

(continued)

Valero

Energy

Corp.

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

68,606

$

10,754,677

Veren,

Inc.

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

120,798

950,680

Vermilion

Energy,

Inc.

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

33,759

371,687

Viper

Energy,

Inc.

,

Class

A

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

19,155

718,887

Williams

Cos.,

Inc.

(The)

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

255,704

10,867,420

World

Kinect

Corp.

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

12,620

325,596

373,811,224

Paper

&

Forest

Products

—

0.5%

Louisiana-Pacific

Corp.

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

13,370

1,100,752

Sylvamo

Corp.

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

7,325

502,495

West

Fraser

Timber

Co.

Ltd.

(b)

...........

11,970

920,134

2,523,381

Total

Long-Term

Investments

—

99

.8

%

(Cost:

$

565,846,272

)

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

531,449,027

Security

Shares

Shares

Value

Short-Term

Securities

Money

Market

Funds

—

1.4%

(c)(d)

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

,

5.48

%

(e)

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

6,798,551

$

6,801,271

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

,

5.28

%

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

513,588

513,588

Total

Short-Term

Securities

—

1

.4

%

(Cost:

$

7,311,508

)

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

7,314,859

Total

Investments

—

101

.2

%

(Cost:

$

573,157,780

)

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

538,763,886

Liabilities

in

Excess

of

Other

Assets

—

(

1.2

)

%

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

(

6,147,282

)

Net

Assets

—

100.0%

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

$

532,616,604

(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.

Affiliated

Issuer

Value

at

03/31/24

Purchases

at

Cost

Proceeds

from

Sales

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

06/30/24

Shares

Held

at

06/30/24

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

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

$

11,933,058

$

—

$

(

5,129,894

)

(a)

$

(

1,481

)

$

(

412

)

$

6,801,271

6,798,551

$

6,654

(b)

$

—

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

999,492

—

(

485,904

)

(a)

—

—

513,588

513,588

12,565

—

$

(

1,481

)

$

(

412

)

$

7,314,859

$

19,219

$

—

—

—

(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

E-Mini

Energy

Select

Sector

Index

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

9

09/20/24

$

869

$

30,717

E-Mini

Materials

Select

Sector

Index

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

2

09/20/24

190

(

2,515

)

$

28,202

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2024

iShares

®

North

American

Natural

Resources

ETF

3

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

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

$

531,449,027

$

—

$

—

$

531,449,027

Short-Term

Securities

Money

Market

Funds

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

7,314,859

—

—

7,314,859

$

538,763,886

$

—

$

—

$

538,763,886

Derivative

Financial

Instruments

(a)

Assets

Equity

contracts

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

$

30,717

$

—

$

—

$

30,717

Liabilities

Equity

contracts

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

(

2,515

)

—

—

(

2,515

)

$

28,202

$

—

$

—

$

28,202

(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