iShares
®
MSCI
USA
Equal
Weighted
ETF
Schedule
of
Investments
(unaudited)
May
31,
2025
(Percentages
shown
are
based
on
Net
Assets)
1
Schedule
of
Investments
Security
Shares
Value
a
Common
Stocks
Aerospace
&
Defense
 — 
2
.3
%
Axon
Enterprise,
Inc.
(a)
.....................
3,600
$
2,701,296
Boeing
Co.
(The)
(a)
........................
12,842
2,662,403
General
Dynamics
Corp.
....................
9,554
2,660,694
General
Electric
Co.
.......................
11,424
2,809,276
HEICO
Corp.
...........................
3,912
1,172,192
HEICO
Corp.
,
Class
A
......................
7,281
1,717,151
Howmet
Aerospace,
Inc.
....................
16,237
2,758,504
L3Harris
Technologies,
Inc.
..................
11,645
2,845,339
Lockheed
Martin
Corp.
.....................
5,640
2,720,623
Northrop
Grumman
Corp.
...................
5,630
2,729,255
RTX
Corp.
.............................
19,615
2,677,055
Textron,
Inc.
............................
35,478
2,626,436
TransDigm
Group,
Inc.
.....................
1,885
2,767,991
32,848,215
a
Air
Freight
&
Logistics
 — 
0
.7
%
CH
Robinson
Worldwide,
Inc.
................
26,671
2,559,616
Expeditors
International
of
Washington,
Inc.
.......
22,549
2,541,949
FedEx
Corp.
............................
12,060
2,630,286
United
Parcel
Service,
Inc.
,
Class
B
............
27,327
2,665,475
10,397,326
a
Automobile
Components
 — 
0
.2
%
Aptiv
PLC
(a)
.............................
39,633
2,647,881
a
Automobiles
 — 
0
.7
%
Ford
Motor
Co.
..........................
250,918
2,604,529
General
Motors
Co.
.......................
53,482
2,653,242
Rivian
Automotive,
Inc.
,
Class
A
(a)
(b)
.............
157,739
2,291,947
Tesla,
Inc.
(a)
.............................
7,752
2,685,758
10,235,476
a
Banks
 — 
2
.6
%
Bank
of
America
Corp.
.....................
60,113
2,652,787
Citigroup,
Inc.
...........................
35,210
2,652,017
Citizens
Financial
Group,
Inc.
................
66,324
2,676,173
Fifth
Third
Bancorp
.......................
70,020
2,674,064
First
Citizens
BancShares,
Inc.
,
Class
A
..........
1,415
2,616,165
Huntington
Bancshares,
Inc.
.................
171,923
2,687,156
JPMorgan
Chase
&
Co.
....................
10,115
2,670,360
KeyCorp
...............................
164,684
2,611,888
M&T
Bank
Corp.
.........................
14,657
2,676,954
PNC
Financial
Services
Group,
Inc.
(The)
........
15,386
2,674,241
Regions
Financial
Corp.
....................
125,894
2,699,167
Truist
Financial
Corp.
......................
65,391
2,582,945
U.S.
Bancorp
...........................
61,606
2,685,406
Wells
Fargo
&
Co.
........................
35,597
2,661,944
37,221,267
a
Beverages
 — 
1
.3
%
Brown-Forman
Corp.
,
Class
B
,
NVS
............
75,625
2,521,337
Coca-Cola
Co.
(The)
......................
37,328
2,691,349
Constellation
Brands,
Inc.
,
Class
A
.............
14,116
2,516,742
Keurig
Dr
Pepper,
Inc.
.....................
79,501
2,676,799
Molson
Coors
Beverage
Co.
,
Class
B
...........
47,319
2,535,825
Monster
Beverage
Corp.
(a)
...................
42,159
2,696,068
PepsiCo,
Inc.
...........................
20,167
2,650,952
18,289,072
a
Biotechnology
 — 
2
.2
%
AbbVie,
Inc.
............................
14,532
2,704,551
Alnylam
Pharmaceuticals,
Inc.
(a)
...............
9,182
2,796,470
Amgen,
Inc.
............................
9,728
2,803,415
Biogen,
Inc.
(a)
...........................
20,431
2,651,739
Security
Shares
Value
a
Biotechnology
(continued)
BioMarin
Pharmaceutical,
Inc.
(a)
...............
44,477
$
2,582,779
Gilead
Sciences,
Inc.
......................
24,738
2,723,159
Incyte
Corp.
(a)
...........................
40,832
2,656,530
Natera,
Inc.
(a)
...........................
17,323
2,732,357
Neurocrine
Biosciences,
Inc.
(a)
................
21,730
2,673,225
Regeneron
Pharmaceuticals,
Inc.
..............
4,312
2,114,087
United
Therapeutics
Corp.
(a)
..................
8,661
2,761,560
Vertex
Pharmaceuticals,
Inc.
(a)
................
5,973
2,640,365
31,840,237
a
Broadline
Retail
 — 
0
.6
%
Amazon.com,
Inc.
(a)
.......................
12,590
2,581,076
eBay,
Inc.
..............................
37,201
2,721,997
MercadoLibre,
Inc.
(a)
.......................
1,036
2,655,569
7,958,642
a
Building
Products
 — 
1
.6
%
Allegion
PLC
............................
18,587
2,652,365
Builders
FirstSource,
Inc.
(a)
..................
23,353
2,514,651
Carlisle
Companies,
Inc.
....................
6,646
2,526,676
Carrier
Global
Corp.
.......................
35,697
2,541,626
Johnson
Controls
International
PLC
............
27,412
2,778,755
Lennox
International,
Inc.
...................
4,452
2,512,931
Masco
Corp.
............................
40,713
2,541,306
Owens
Corning
..........................
18,993
2,544,112
Trane
Technologies
PLC
....................
6,215
2,674,128
23,286,550
a
Capital
Markets
 — 
5
.0
%
Ameriprise
Financial,
Inc.
...................
5,152
2,623,604
Ares
Management
Corp.
,
Class
A
..............
16,222
2,684,741
Bank
of
New
York
Mellon
Corp.
(The)
...........
29,921
2,651,300
BlackRock,
Inc.
(c)
.........................
2,679
2,625,125
Blackstone,
Inc.
..........................
18,617
2,583,295
Carlyle
Group,
Inc.
(The)
....................
57,523
2,600,040
Cboe
Global
Markets,
Inc.
...................
11,908
2,728,361
Charles
Schwab
Corp.
(The)
.................
30,243
2,671,667
CME
Group,
Inc.
,
Class
A
...................
9,707
2,805,323
Coinbase
Global,
Inc.
,
Class
A
(a)
...............
10,196
2,514,537
FactSet
Research
Systems,
Inc.
...............
5,628
2,579,087
Goldman
Sachs
Group,
Inc.
(The)
.............
4,609
2,767,474
Interactive
Brokers
Group,
Inc.
,
Class
A
..........
12,705
2,663,984
Intercontinental
Exchange,
Inc.
...............
15,305
2,751,839
KKR
&
Co.,
Inc.
..........................
21,467
2,607,382
LPL
Financial
Holdings,
Inc.
..................
6,973
2,699,667
Moody's
Corp.
...........................
5,545
2,657,829
Morgan
Stanley
..........................
21,446
2,745,731
MSCI,
Inc.
.............................
4,686
2,642,998
Nasdaq,
Inc.
............................
33,548
2,802,600
Northern
Trust
Corp.
.......................
25,655
2,738,415
Raymond
James
Financial,
Inc.
...............
17,885
2,628,737
Robinhood
Markets,
Inc.
,
Class
A
(a)
.............
41,066
2,716,516
S&P
Global,
Inc.
.........................
5,136
2,634,049
State
Street
Corp.
........................
27,342
2,632,488
T
Rowe
Price
Group,
Inc.
...................
27,526
2,576,158
Tradeweb
Markets,
Inc.
,
Class
A
...............
18,239
2,634,624
71,967,571
a
Chemicals
 — 
2
.2
%
Air
Products
and
Chemicals,
Inc.
..............
9,720
2,711,005
CF
Industries
Holdings,
Inc.
..................
30,684
2,783,346
Corteva,
Inc.
............................
38,806
2,747,465
Dow,
Inc.
..............................
90,051
2,498,015
DuPont
de
Nemours,
Inc.
...................
38,689
2,584,425
Ecolab,
Inc.
............................
10,229
2,717,027
Schedule
of
Investments
(unaudited)
(continued)
May
31,
2025
iShares
®
MSCI
USA
Equal
Weighted
ETF
(Percentages
shown
are
based
on
Net
Assets)
2
Security
Shares
Value
a
Chemicals
(continued)
International
Flavors
&
Fragrances,
Inc.
..........
34,247
$
2,621,950
Linde
PLC
.............................
5,823
2,722,718
LyondellBasell
Industries
N.V.
,
Class
A
..........
46,088
2,603,511
PPG
Industries,
Inc.
.......................
23,579
2,612,553
RPM
International,
Inc.
.....................
23,463
2,671,028
Sherwin-Williams
Co.
(The)
..................
7,443
2,670,623
31,943,666
a
Commercial
Services
&
Supplies
 — 
1
.3
%
Cintas
Corp.
............................
11,792
2,670,888
Copart,
Inc.
(a)
(b)
..........................
43,265
2,227,282
Republic
Services,
Inc.
.....................
10,645
2,738,852
Rollins,
Inc.
.............................
45,940
2,630,065
Veralto
Corp.
............................
26,076
2,634,458
Waste
Connections,
Inc.
....................
13,580
2,676,482
Waste
Management,
Inc.
....................
11,343
2,733,323
18,311,350
a
Communications
Equipment
 — 
0
.9
%
Arista
Networks,
Inc.
(a)
.....................
27,523
2,384,593
Cisco
Systems,
Inc.
.......................
41,689
2,628,075
F5,
Inc.
(a)
..............................
9,256
2,641,477
Juniper
Networks,
Inc.
.....................
73,952
2,657,095
Motorola
Solutions,
Inc.
....................
6,277
2,607,340
12,918,580
a
Construction
&
Engineering
 — 
0
.6
%
AECOM
...............................
24,774
2,721,424
EMCOR
Group,
Inc.
.......................
5,631
2,657,044
Quanta
Services,
Inc.
......................
7,745
2,653,127
8,031,595
a
Construction
Materials
 — 
0
.5
%
CRH
PLC
..............................
27,629
2,518,660
Martin
Marietta
Materials,
Inc.
................
4,742
2,596,482
Vulcan
Materials
Co.
......................
9,729
2,578,866
7,694,008
a
Consumer
Finance
 — 
0
.6
%
American
Express
Co.
.....................
9,266
2,724,667
Capital
One
Financial
Corp.
..................
13,839
2,617,647
Synchrony
Financial
.......................
46,054
2,655,013
7,997,327
a
Consumer
Staples
Distribution
&
Retail
 — 
1
.5
%
Albertsons
Companies,
Inc.
,
Class
A
............
122,727
2,728,221
Costco
Wholesale
Corp.
....................
2,489
2,589,008
Dollar
General
Corp.
......................
26,169
2,544,935
Dollar
Tree,
Inc.
(a)
.........................
29,485
2,661,316
Kroger
Co.
(The)
.........................
38,679
2,639,068
Sysco
Corp.
............................
36,286
2,648,878
Target
Corp.
............................
27,274
2,564,029
Walmart,
Inc.
............................
26,788
2,644,512
21,019,967
a
Containers
&
Packaging
 — 
1
.3
%
Amcor
PLC
.............................
289,152
2,634,175
Avery
Dennison
Corp.
......................
14,484
2,574,241
Ball
Corp.
..............................
49,731
2,664,587
Crown
Holdings,
Inc.
......................
27,084
2,667,774
International
Paper
Co.
.....................
53,345
2,550,424
Packaging
Corp.
of
America
.................
13,822
2,669,996
Smurfit
WestRock
PLC
.....................
57,993
2,512,837
18,274,034
a
Security
Shares
Value
a
Distributors
 — 
0
.5
%
Genuine
Parts
Co.
........................
20,971
$
2,653,251
LKQ
Corp.
.............................
64,703
2,618,530
Pool
Corp.
.............................
8,518
2,560,426
7,832,207
a
Diversified
REITs
 — 
0
.2
%
WP
Carey,
Inc.
..........................
42,975
2,697,111
a
Diversified
Telecommunication
Services
 — 
0
.4
%
AT&T,
Inc.
..............................
97,429
2,708,526
Verizon
Communications,
Inc.
................
61,091
2,685,561
5,394,087
a
Electric
Utilities
 — 
2
.9
%
Alliant
Energy
Corp.
.......................
42,382
2,637,432
American
Electric
Power
Co.,
Inc.
..............
25,787
2,668,697
Constellation
Energy
Corp.
..................
9,128
2,794,537
Duke
Energy
Corp.
.......................
22,689
2,670,949
Edison
International
.......................
45,778
2,547,546
Entergy
Corp.
...........................
31,761
2,645,056
Evergy,
Inc.
.............................
39,942
2,652,548
Eversource
Energy
.......................
40,632
2,633,360
Exelon
Corp.
............................
60,796
2,664,081
FirstEnergy
Corp.
........................
62,679
2,628,757
NextEra
Energy,
Inc.
......................
35,727
2,523,755
NRG
Energy,
Inc.
.........................
16,736
2,609,142
PG&E
Corp.
............................
150,687
2,543,597
PPL
Corp.
.............................
76,947
2,673,908
Southern
Co.
(The)
.......................
29,429
2,648,610
Xcel
Energy,
Inc.
.........................
36,932
2,588,933
42,130,908
a
Electrical
Equipment
 — 
1
.3
%
AMETEK,
Inc.
...........................
14,705
2,628,372
Eaton
Corp.
PLC
.........................
8,096
2,592,339
Emerson
Electric
Co.
......................
22,576
2,695,123
GE
Vernova,
Inc.
.........................
5,933
2,806,190
Hubbell,
Inc.
............................
6,857
2,671,350
Rockwell
Automation,
Inc.
...................
8,617
2,719,095
Vertiv
Holdings
Co.
,
Class
A
.................
25,086
2,707,532
18,820,001
a
Electronic
Equipment,
Instruments
&
Components
 — 
1
.7
%
Amphenol
Corp.
,
Class
A
...................
30,655
2,756,804
CDW
Corp.
.............................
14,235
2,567,425
Corning,
Inc.
............................
55,686
2,761,469
Jabil,
Inc.
..............................
15,948
2,679,423
Keysight
Technologies,
Inc.
(a)
.................
16,524
2,594,929
TE
Connectivity
PLC
......................
16,292
2,607,860
Teledyne
Technologies,
Inc.
(a)
.................
5,425
2,706,315
Trimble,
Inc.
(a)
(b)
..........................
37,058
2,641,124
Zebra
Technologies
Corp.
,
Class
A
(a)
............
8,963
2,597,209
23,912,558
a
Energy
Equipment
&
Services
 — 
0
.5
%
Baker
Hughes
Co.
,
Class
A
..................
72,478
2,685,310
Halliburton
Co.
..........................
131,967
2,585,234
Schlumberger
N.V.
........................
78,430
2,592,111
7,862,655
a
Entertainment
 — 
1
.5
%
Electronic
Arts,
Inc.
.......................
17,588
2,528,803
Liberty
Media
Corp.-Liberty
Formula
One
,
Series
C
,
NVS
(a)
...............................
27,656
2,669,634
Live
Nation
Entertainment,
Inc.
(a)
..............
18,282
2,508,107
Netflix,
Inc.
(a)
............................
2,233
2,695,745
iShares
®
MSCI
USA
Equal
Weighted
ETF
Schedule
of
Investments
(unaudited)
(continued)
May
31,
2025
(Percentages
shown
are
based
on
Net
Assets)
3
Schedule
of
Investments
Security
Shares
Value
a
Entertainment
(continued)
ROBLOX
Corp.
,
Class
A
(a)
...................
32,773
$
2,850,595
Take-Two
Interactive
Software,
Inc.
(a)
............
11,264
2,548,818
Walt
Disney
Co.
(The)
.....................
23,697
2,678,709
Warner
Bros
Discovery,
Inc.
,
Series
A
(a)
(b)
.........
287,988
2,871,240
21,351,651
a
Financial
Services
 — 
2
.4
%
Apollo
Global
Management,
Inc.
...............
21,127
2,761,088
Berkshire
Hathaway,
Inc.
,
Class
B
(a)
............
5,543
2,793,450
Block,
Inc.
,
Class
A
(a)
......................
46,958
2,899,656
Corpay,
Inc.
(a)
...........................
8,241
2,679,232
Equitable
Holdings,
Inc.
....................
31,641
1,672,860
Fidelity
National
Information
Services,
Inc.
........
32,184
2,562,168
Fiserv,
Inc.
(a)
............................
16,422
2,673,337
Global
Payments,
Inc.
.....................
34,313
2,594,406
Jack
Henry
&
Associates,
Inc.
................
15,677
2,840,202
Mastercard,
Inc.
,
Class
A
....................
5,042
2,952,595
PayPal
Holdings,
Inc.
(a)
.....................
38,022
2,672,186
Toast,
Inc.
,
Class
A
(a)
......................
61,465
2,592,594
Visa,
Inc.
,
Class
A
........................
7,994
2,919,329
34,613,103
a
Food
Products
 — 
2
.4
%
Archer-Daniels-Midland
Co.
..................
53,349
2,575,156
Bunge
Global
SA
.........................
33,418
2,611,617
Conagra
Brands,
Inc.
......................
115,571
2,645,420
General
Mills,
Inc.
........................
49,019
2,659,771
Hershey
Co.
(The)
........................
17,076
2,743,942
Hormel
Foods
Corp.
.......................
88,719
2,721,899
J
M
Smucker
Co.
(The)
.....................
23,345
2,628,881
Kellanova
..............................
32,488
2,684,483
Kraft
Heinz
Co.
(The)
......................
95,931
2,564,236
McCormick
&
Co.,
Inc.
,
NVS
.................
35,950
2,614,644
Mondelez
International,
Inc.
,
Class
A
............
40,582
2,738,879
The
Campbell's
Company
...................
74,784
2,545,647
Tyson
Foods,
Inc.
,
Class
A
..................
46,997
2,639,352
34,373,927
a
Gas
Utilities
 — 
0
.2
%
Atmos
Energy
Corp.
.......................
16,863
2,608,369
a
Ground
Transportation
 — 
1
.3
%
CSX
Corp.
.............................
85,895
2,713,423
JB
Hunt
Transport
Services,
Inc.
..............
18,340
2,546,509
Norfolk
Southern
Corp.
.....................
10,969
2,710,659
Old
Dominion
Freight
Line,
Inc.
...............
15,535
2,488,241
Uber
Technologies,
Inc.
(a)
...................
29,016
2,441,987
U-Haul
Holding
Co.
,
Series
N
,
NVS
.............
46,994
2,680,538
Union
Pacific
Corp.
.......................
11,629
2,577,684
18,159,041
a
Health
Care
Equipment
&
Supplies
 — 
3
.5
%
Abbott
Laboratories
.......................
19,831
2,649,025
Align
Technology,
Inc.
(a)
(b)
....................
14,575
2,637,200
Baxter
International,
Inc.
....................
84,630
2,581,215
Becton
Dickinson
&
Co.
....................
15,125
2,610,424
Boston
Scientific
Corp.
(a)
....................
25,177
2,650,131
Cooper
Companies,
Inc.
(The)
(a)
...............
32,761
2,236,921
Dexcom,
Inc.
(a)
..........................
30,530
2,619,474
Edwards
Lifesciences
Corp.
(a)
................
34,404
2,691,081
GE
HealthCare
Technologies,
Inc.
.............
37,183
2,622,889
Hologic,
Inc.
(a)
...........................
47,326
2,942,257
IDEXX
Laboratories,
Inc.
(a)
...................
5,133
2,635,077
Insulet
Corp.
(a)
...........................
8,154
2,650,295
Intuitive
Surgical,
Inc.
(a)
.....................
4,743
2,619,749
Medtronic
PLC
..........................
31,155
2,585,242
Security
Shares
Value
a
Health
Care
Equipment
&
Supplies
(continued)
ResMed,
Inc.
...........................
10,722
$
2,624,638
Solventum
Corp.
(a)
........................
35,914
2,624,954
STERIS
PLC
............................
10,703
2,624,483
Stryker
Corp.
...........................
6,822
2,610,370
Zimmer
Biomet
Holdings,
Inc.
................
28,094
2,589,424
49,804,849
a
Health
Care
Providers
&
Services
 — 
2
.7
%
Cardinal
Health,
Inc.
.......................
17,285
2,669,495
Cencora,
Inc.
...........................
9,110
2,653,196
Centene
Corp.
(a)
.........................
43,509
2,455,648
Cigna
Group
(The)
........................
8,285
2,623,363
CVS
Health
Corp.
........................
41,811
2,677,577
DaVita,
Inc.
(a)
(b)
..........................
18,360
2,501,734
Elevance
Health,
Inc.
......................
6,555
2,516,071
HCA
Healthcare,
Inc.
......................
6,891
2,628,159
Humana,
Inc.
...........................
10,487
2,444,834
Labcorp
Holdings,
Inc.
.....................
10,623
2,644,808
McKesson
Corp.
.........................
3,714
2,672,260
Molina
Healthcare,
Inc.
(a)
....................
8,231
2,510,784
Quest
Diagnostics,
Inc.
.....................
14,982
2,596,980
UnitedHealth
Group,
Inc.
....................
8,312
2,509,476
Universal
Health
Services,
Inc.
,
Class
B
.........
13,654
2,599,039
38,703,424
a
Health
Care
REITs
 — 
0
.7
%
Alexandria
Real
Estate
Equities,
Inc.
............
36,650
2,572,464
Healthpeak
Properties,
Inc.
..................
152,608
2,656,905
Ventas,
Inc.
............................
41,106
2,642,294
Welltower,
Inc.
...........................
17,590
2,713,785
10,585,448
a
Health
Care
Technology
 — 
0
.2
%
Veeva
Systems,
Inc.
,
Class
A
(a)
...............
11,084
3,100,195
a
Hotels,
Restaurants
&
Leisure
 — 
3
.3
%
Airbnb,
Inc.
,
Class
A
(a)
......................
20,178
2,602,962
Booking
Holdings,
Inc.
.....................
498
2,748,427
Carnival
Corp.
(a)
..........................
117,188
2,721,105
Chipotle
Mexican
Grill,
Inc.
(a)
.................
50,802
2,544,164
Darden
Restaurants,
Inc.
...................
12,923
2,768,236
Domino's
Pizza,
Inc.
.......................
5,423
2,569,526
DoorDash,
Inc.
,
Class
A
(a)
...................
13,036
2,719,961
DraftKings,
Inc.
,
Class
A
(a)
...................
74,179
2,661,543
Expedia
Group,
Inc.
.......................
16,453
2,743,538
Flutter
Entertainment
PLC
(a)
..................
10,835
2,738,004
Hilton
Worldwide
Holdings,
Inc.
...............
10,458
2,598,186
Hyatt
Hotels
Corp.
,
Class
A
..................
20,285
2,678,229
Las
Vegas
Sands
Corp.
....................
65,526
2,697,050
Marriott
International,
Inc.
,
Class
A
.............
9,946
2,624,053
McDonald's
Corp.
........................
8,352
2,621,275
Royal
Caribbean
Cruises
Ltd.
................
10,764
2,766,025
Starbucks
Corp.
..........................
31,116
2,612,188
Yum!
Brands,
Inc.
........................
17,821
2,565,155
47,979,627
a
Household
Durables
 — 
0
.9
%
DR
Horton,
Inc.
..........................
21,681
2,559,659
Garmin
Ltd.
.............................
13,150
2,669,055
Lennar
Corp.
,
Class
A
......................
24,614
2,611,053
NVR,
Inc.
(a)
.............................
364
2,590,199
PulteGroup,
Inc.
.........................
26,800
2,627,204
13,057,170
a
Schedule
of
Investments
(unaudited)
(continued)
May
31,
2025
iShares
®
MSCI
USA
Equal
Weighted
ETF
(Percentages
shown
are
based
on
Net
Assets)
4
Security
Shares
Value
a
Household
Products
 — 
0
.9
%
Church
&
Dwight
Co.,
Inc.
...................
27,463
$
2,699,888
Clorox
Co.
(The)
.........................
19,695
2,597,377
Colgate-Palmolive
Co.
.....................
28,575
2,655,760
Kimberly-Clark
Corp.
......................
18,821
2,705,707
Procter
&
Gamble
Co.
(The)
.................
15,768
2,678,825
13,337,557
a
Independent
Power
and
Renewable
Electricity
Producers
 — 
0
.2
%
Vistra
Corp.
............................
17,012
2,731,617
a
Industrial
Conglomerates
 — 
0
.4
%
3M
Co.
................................
17,437
2,586,779
Honeywell
International,
Inc.
.................
11,885
2,693,973
5,280,752
a
Industrial
REITs
 — 
0
.2
%
Prologis,
Inc.
............................
24,449
2,655,161
a
Insurance
 — 
4
.5
%
Aflac,
Inc.
..............................
27,804
2,878,826
Allstate
Corp.
(The)
.......................
12,672
2,659,473
American
Financial
Group,
Inc.
...............
21,469
2,661,727
American
International
Group,
Inc.
.............
32,284
2,732,518
Aon
PLC
,
Class
A
........................
7,290
2,712,463
Arch
Capital
Group
Ltd.
....................
28,335
2,692,959
Arthur
J
Gallagher
&
Co.
....................
7,711
2,679,110
Brown
&
Brown,
Inc.
.......................
23,561
2,660,037
Chubb
Ltd.
.............................
9,006
2,676,583
Cincinnati
Financial
Corp.
...................
17,793
2,683,540
Erie
Indemnity
Co.
,
Class
A
,
NVS
..............
7,189
2,577,329
Everest
Group
Ltd.
........................
7,686
2,668,502
Fidelity
National
Financial,
Inc.
................
45,800
2,508,466
Hartford
Insurance
Group,
Inc.
(The)
............
22,342
2,900,885
Loews
Corp.
............................
30,152
2,692,272
Markel
Group,
Inc.
(a)
.......................
1,417
2,751,389
Marsh
&
McLennan
Companies,
Inc.
............
11,255
2,629,843
MetLife,
Inc.
............................
36,540
2,871,313
Principal
Financial
Group,
Inc.
................
35,672
2,778,492
Progressive
Corp.
(The)
....................
9,171
2,613,093
Prudential
Financial,
Inc.
....................
25,243
2,622,495
Travelers
Companies,
Inc.
(The)
...............
9,719
2,679,528
W
R
Berkley
Corp.
........................
36,298
2,711,098
Willis
Towers
Watson
PLC
...................
8,484
2,685,610
64,727,551
a
Interactive
Media
&
Services
 — 
0
.9
%
Alphabet,
Inc.
,
Class
A
.....................
8,751
1,502,897
Alphabet,
Inc.
,
Class
C
,
NVS
.................
7,288
1,259,731
Meta
Platforms,
Inc.
,
Class
A
.................
4,158
2,692,263
Pinterest,
Inc.
,
Class
A
(a)
....................
82,577
2,568,970
Reddit,
Inc.
,
Class
A
(a)
(b)
.....................
25,288
2,841,107
Snap,
Inc.
,
Class
A
,
NVS
(a)
(b)
.................
312,875
2,581,219
13,446,187
a
IT
Services
 — 
2
.2
%
Accenture
PLC
,
Class
A
....................
8,142
2,579,548
Akamai
Technologies,
Inc.
(a)
..................
34,331
2,606,753
Cloudflare,
Inc.
,
Class
A
(a)
...................
17,003
2,820,628
Cognizant
Technology
Solutions
Corp.
,
Class
A
.....
32,478
2,630,393
Gartner,
Inc.
(a)
...........................
5,849
2,552,621
GoDaddy,
Inc.
,
Class
A
(a)
....................
14,138
2,575,237
International
Business
Machines
Corp.
..........
9,927
2,571,689
MongoDB,
Inc.
,
Class
A
(a)
...................
14,125
2,667,224
Okta,
Inc.
,
Class
A
(a)
.......................
21,248
2,192,156
Snowflake,
Inc.
,
Class
A
(a)
...................
14,575
2,997,640
Twilio,
Inc.
,
Class
A
(a)
......................
22,727
2,674,968
Security
Shares
Value
a
IT
Services
(continued)
VeriSign,
Inc.
...........................
9,399
$
2,560,945
31,429,802
a
Life
Sciences
Tools
&
Services
 — 
1
.8
%
Agilent
Technologies,
Inc.
...................
23,473
2,627,098
Avantor,
Inc.
(a)
(b)
..........................
198,277
2,559,756
Danaher
Corp.
..........................
13,460
2,556,054
Illumina,
Inc.
(a)
...........................
31,629
2,601,169
IQVIA
Holdings,
Inc.
(a)
......................
18,394
2,581,230
Mettler-Toledo
International,
Inc.
(a)
(b)
............
2,249
2,598,764
Revvity,
Inc.
............................
28,561
2,582,486
Thermo
Fisher
Scientific,
Inc.
.................
6,418
2,585,299
Waters
Corp.
(a)
..........................
7,370
2,573,899
West
Pharmaceutical
Services,
Inc.
............
12,380
2,610,323
25,876,078
a
Machinery
 — 
3
.3
%
Caterpillar,
Inc.
..........................
7,671
2,669,738
CNH
Industrial
N.V.
.......................
196,319
2,455,951
Cummins,
Inc.
...........................
8,099
2,603,667
Deere
&
Co.
............................
5,112
2,588,001
Dover
Corp.
............................
14,617
2,598,172
Fortive
Corp.
............................
37,283
2,616,894
Graco,
Inc.
.............................
30,350
2,569,431
IDEX
Corp.
.............................
14,231
2,574,530
Illinois
Tool
Works,
Inc.
.....................
10,661
2,612,798
Ingersoll
Rand,
Inc.
.......................
32,282
2,635,502
Nordson
Corp.
...........................
13,274
2,813,955
Otis
Worldwide
Corp.
......................
27,167
2,590,373
PACCAR,
Inc.
...........................
27,925
2,620,761
Parker-Hannifin
Corp.
......................
3,943
2,620,912
Pentair
PLC
............................
26,944
2,672,306
Snap-on,
Inc.
...........................
8,214
2,634,640
Westinghouse
Air
Brake
Technologies
Corp.
.......
13,258
2,682,359
Xylem,
Inc.
.............................
20,995
2,646,210
47,206,200
a
Media
 — 
1
.1
%
Charter
Communications,
Inc.
,
Class
A
(a)
.........
6,327
2,507,200
Comcast
Corp.
,
Class
A
....................
75,460
2,608,652
Fox
Corp.
,
Class
A
,
NVS
....................
29,464
1,618,752
Fox
Corp.
,
Class
B
........................
19,877
999,416
News
Corp.
,
Class
A
,
NVS
..................
95,081
2,685,087
Omnicom
Group,
Inc.
......................
35,415
2,600,878
Trade
Desk,
Inc.
(The)
,
Class
A
(a)
..............
34,622
2,604,267
15,624,252
a
Metals
&
Mining
 — 
0
.9
%
Freeport-McMoRan,
Inc.
....................
69,575
2,677,246
Newmont
Corp.
..........................
51,186
2,698,526
Nucor
Corp.
............................
23,154
2,532,122
Reliance,
Inc.
...........................
8,712
2,551,048
Steel
Dynamics,
Inc.
.......................
19,706
2,425,217
12,884,159
a
Mortgage
REITs
 — 
0
.2
%
Annaly
Capital
Management,
Inc.
..............
138,098
2,616,957
a
Multi-Utilities
 — 
1
.9
%
Ameren
Corp.
...........................
27,139
2,629,226
CenterPoint
Energy,
Inc.
....................
71,588
2,665,937
CMS
Energy
Corp.
........................
37,162
2,609,887
Consolidated
Edison,
Inc.
...................
25,290
2,642,552
Dominion
Energy,
Inc.
......................
45,837
2,597,583
DTE
Energy
Co.
.........................
19,383
2,648,687
NiSource,
Inc.
...........................
68,262
2,699,080
iShares
®
MSCI
USA
Equal
Weighted
ETF
Schedule
of
Investments
(unaudited)
(continued)
May
31,
2025
(Percentages
shown
are
based
on
Net
Assets)
5
Schedule
of
Investments
Security
Shares
Value
a
Multi-Utilities
(continued)
Public
Service
Enterprise
Group,
Inc.
...........
33,587
$
2,721,555
Sempra
...............................
34,033
2,674,653
WEC
Energy
Group,
Inc.
....................
24,839
2,668,702
26,557,862
a
Office
REITs
 — 
0
.2
%
BXP,
Inc.
..............................
39,531
2,661,622
a
Oil,
Gas
&
Consumable
Fuels
 — 
3
.6
%
Cheniere
Energy,
Inc.
......................
11,595
2,747,899
Chevron
Corp.
...........................
19,472
2,661,822
ConocoPhillips
..........................
29,453
2,513,814
Coterra
Energy,
Inc.
.......................
107,148
2,604,768
Devon
Energy
Corp.
.......................
83,249
2,519,115
Diamondback
Energy,
Inc.
...................
19,244
2,589,280
EOG
Resources,
Inc.
......................
23,518
2,553,349
EQT
Corp.
.............................
47,425
2,614,540
Expand
Energy
Corp.
......................
23,239
2,698,745
Exxon
Mobil
Corp.
........................
25,322
2,590,441
Hess
Corp.
.............................
20,074
2,653,582
Kinder
Morgan,
Inc.
.......................
96,966
2,718,927
Marathon
Petroleum
Corp.
..................
16,592
2,666,998
Occidental
Petroleum
Corp.
..................
63,576
2,592,629
ONEOK,
Inc.
............................
31,930
2,581,221
Phillips
66
..............................
22,093
2,507,114
Targa
Resources
Corp.
.....................
16,554
2,614,373
Texas
Pacific
Land
Corp.
....................
1,939
2,160,104
Valero
Energy
Corp.
.......................
20,252
2,611,901
Williams
Companies,
Inc.
(The)
...............
45,841
2,773,839
51,974,461
a
Passenger
Airlines
 — 
0
.4
%
Delta
Air
Lines,
Inc.
.......................
53,668
2,596,995
United
Airlines
Holdings,
Inc.
(a)
................
35,118
2,789,949
5,386,944
a
Personal
Care
Products
 — 
0
.4
%
Estee
Lauder
Companies,
Inc.
(The)
,
Class
A
......
40,291
2,697,079
Kenvue,
Inc.
............................
110,933
2,647,971
5,345,050
a
Pharmaceuticals
 — 
1
.3
%
Bristol-Myers
Squibb
Co.
....................
55,945
2,701,025
Eli
Lilly
&
Co.
...........................
3,568
2,632,006
Johnson
&
Johnson
.......................
17,549
2,723,780
Merck
&
Co.,
Inc.
.........................
34,257
2,632,308
Pfizer,
Inc.
.............................
114,510
2,689,840
Royalty
Pharma
PLC
,
Class
A
................
81,397
2,676,333
Zoetis,
Inc.
,
Class
A
.......................
16,347
2,756,595
18,811,887
a
Professional
Services
 — 
2
.0
%
Amentum
Holdings,
Inc.
(a)
...................
1,214
25,081
Automatic
Data
Processing,
Inc.
...............
7,891
2,568,757
Booz
Allen
Hamilton
Holding
Corp.
,
Class
A
.......
20,542
2,182,588
Broadridge
Financial
Solutions,
Inc.
............
11,247
2,731,109
Equifax,
Inc.
............................
9,692
2,560,529
Jacobs
Solutions,
Inc.
......................
20,901
2,639,796
Leidos
Holdings,
Inc.
......................
16,609
2,466,769
Paychex,
Inc.
...........................
16,291
2,572,512
Paycom
Software,
Inc.
.....................
10,243
2,653,859
SS&C
Technologies
Holdings,
Inc.
.............
32,976
2,664,791
TransUnion
.............................
29,524
2,528,140
Verisk
Analytics,
Inc.
.......................
8,474
2,662,022
28,255,953
a
Security
Shares
Value
a
Real
Estate
Management
&
Development
 — 
0
.5
%
CBRE
Group,
Inc.
,
Class
A
(a)
.................
20,711
$
2,589,289
CoStar
Group,
Inc.
(a)
.......................
35,036
2,577,248
Zillow
Group,
Inc.
,
Class
C
,
NVS
(a)
.............
39,784
2,669,905
7,836,442
a
Residential
REITs
 — 
1
.8
%
American
Homes
4
Rent
,
Class
A
..............
69,520
2,631,332
AvalonBay
Communities,
Inc.
................
12,833
2,653,480
Camden
Property
Trust
.....................
22,563
2,650,927
Equity
LifeStyle
Properties,
Inc.
...............
40,893
2,599,568
Equity
Residential
........................
37,628
2,639,228
Essex
Property
Trust,
Inc.
...................
9,346
2,653,329
Invitation
Homes,
Inc.
......................
78,080
2,631,296
Mid-America
Apartment
Communities,
Inc.
........
16,717
2,618,718
Sun
Communities,
Inc.
.....................
21,382
2,639,394
UDR,
Inc.
..............................
64,126
2,656,740
26,374,012
a
Retail
REITs
 — 
0
.7
%
Kimco
Realty
Corp.
.......................
125,747
2,673,381
Realty
Income
Corp.
.......................
47,281
2,677,050
Regency
Centers
Corp.
....................
36,887
2,661,397
Simon
Property
Group,
Inc.
..................
16,527
2,695,058
10,706,886
a
Semiconductors
&
Semiconductor
Equipment
 — 
3
.4
%
Advanced
Micro
Devices,
Inc.
(a)
...............
23,418
2,593,075
Analog
Devices,
Inc.
.......................
11,905
2,547,432
Applied
Materials,
Inc.
.....................
16,031
2,512,859
Broadcom,
Inc.
..........................
11,529
2,790,825
Entegris,
Inc.
............................
35,001
2,405,969
First
Solar,
Inc.
(a)
.........................
15,978
2,525,802
Intel
Corp.
.............................
125,386
2,451,296
KLA
Corp.
..............................
3,373
2,552,956
Lam
Research
Corp.
......................
31,467
2,542,219
Marvell
Technology,
Inc.
....................
43,493
2,617,844
Microchip
Technology,
Inc.
...................
43,916
2,548,885
Micron
Technology,
Inc.
.....................
27,219
2,571,107
Monolithic
Power
Systems,
Inc.
...............
3,801
2,515,882
NVIDIA
Corp.
...........................
19,554
2,642,332
NXP
Semiconductors
N.V.
...................
12,766
2,439,965
ON
Semiconductor
Corp.
(a)
(b)
.................
60,496
2,542,042
QUALCOMM,
Inc.
........................
17,313
2,513,847
Teradyne,
Inc.
...........................
32,721
2,571,871
Texas
Instruments,
Inc.
.....................
14,140
2,585,499
48,471,707
a
Software
 — 
5
.8
%
Adobe,
Inc.
(a)
............................
6,351
2,636,237
ANSYS,
Inc.
(a)
...........................
7,687
2,543,013
AppLovin
Corp.
,
Class
A
(a)
...................
7,356
2,890,908
Atlassian
Corp.
,
Class
A
(a)
...................
12,465
2,588,108
Autodesk,
Inc.
(a)
..........................
9,001
2,665,376
Bentley
Systems,
Inc.
,
Class
B
................
55,641
2,655,745
Cadence
Design
Systems,
Inc.
(a)
..............
8,305
2,384,116
Crowdstrike
Holdings,
Inc.
,
Class
A
(a)
............
6,024
2,839,533
Datadog,
Inc.
,
Class
A
(a)
....................
22,906
2,700,159
DocuSign,
Inc.
(a)
.........................
29,810
2,641,464
Dynatrace,
Inc.
(a)
.........................
50,175
2,709,952
Fair
Isaac
Corp.
(a)
.........................
1,316
2,271,784
Fortinet,
Inc.
(a)
...........................
25,372
2,582,362
Gen
Digital,
Inc.
..........................
94,379
2,687,914
HubSpot,
Inc.
(a)
..........................
4,168
2,458,703
Intuit,
Inc.
..............................
3,949
2,975,453
Microsoft
Corp.
..........................
5,731
2,638,323
Schedule
of
Investments
(unaudited)
(continued)
May
31,
2025
iShares
®
MSCI
USA
Equal
Weighted
ETF
(Percentages
shown
are
based
on
Net
Assets)
6
Security
Shares
Value
a
Software
(continued)
MicroStrategy,
Inc.
,
Class
A
(a)
(b)
................
6,412
$
2,366,413
Nutanix,
Inc.
,
Class
A
(a)
.....................
32,850
2,519,267
Oracle
Corp.
............................
16,660
2,757,730
Palantir
Technologies,
Inc.
,
Class
A
(a)
...........
21,257
2,801,247
Palo
Alto
Networks,
Inc.
(a)
...................
13,599
2,616,720
PTC,
Inc.
(a)
.............................
15,405
2,592,970
Roper
Technologies,
Inc.
....................
4,639
2,645,483
Salesforce,
Inc.
..........................
9,212
2,444,588
Samsara,
Inc.
,
Class
A
(a)
(b)
...................
56,515
2,630,208
ServiceNow,
Inc.
(a)
........................
2,601
2,629,845
Synopsys,
Inc.
(a)
.........................
5,139
2,384,393
Tyler
Technologies,
Inc.
(a)
...................
4,644
2,679,542
Workday,
Inc.
,
Class
A
(a)
....................
9,807
2,429,292
Zoom
Communications,
Inc.
,
Class
A
(a)
..........
32,072
2,605,850
Zscaler,
Inc.
(a)
(b)
..........................
10,631
2,930,967
83,903,665
a
Specialized
REITs
 — 
2
.0
%
American
Tower
Corp.
.....................
12,398
2,661,231
Crown
Castle,
Inc.
........................
25,869
2,595,954
Digital
Realty
Trust,
Inc.
....................
15,594
2,674,683
Equinix,
Inc.
............................
3,032
2,694,902
Extra
Space
Storage,
Inc.
...................
17,458
2,638,777
Gaming
and
Leisure
Properties,
Inc.
............
57,489
2,684,736
Iron
Mountain,
Inc.
........................
26,589
2,624,600
Public
Storage
...........................
8,694
2,681,317
SBA
Communications
Corp.
,
Class
A
............
11,426
2,649,575
VICI
Properties,
Inc.
.......................
85,002
2,695,413
Weyerhaeuser
Co.
........................
101,361
2,626,264
29,227,452
a
Specialty
Retail
 — 
2
.3
%
AutoZone,
Inc.
(a)
.........................
690
2,575,798
Best
Buy
Co.,
Inc.
........................
37,611
2,492,857
Burlington
Stores,
Inc.
(a)
(b)
...................
9,979
2,277,906
Carvana
Co.
,
Class
A
(a)
.....................
8,834
2,890,131
Dick's
Sporting
Goods,
Inc.
..................
14,628
2,623,386
Home
Depot,
Inc.
(The)
....................
7,072
2,604,547
Lowe's
Companies,
Inc.
....................
11,591
2,616,436
O'Reilly
Automotive,
Inc.
(a)
...................
1,927
2,635,172
Ross
Stores,
Inc.
.........................
17,345
2,429,861
TJX
Companies,
Inc.
(The)
..................
19,523
2,477,469
Tractor
Supply
Co.
........................
51,800
2,507,120
Ulta
Beauty,
Inc.
(a)
........................
6,437
3,034,788
Williams-Sonoma,
Inc.
.....................
15,480
2,504,045
33,669,516
a
Technology
Hardware,
Storage
&
Peripherals
 — 
1
.6
%
Apple,
Inc.
.............................
12,804
2,571,683
Dell
Technologies,
Inc.
,
Class
C
...............
23,412
2,605,053
Hewlett
Packard
Enterprise
Co.
...............
151,626
2,620,097
HP,
Inc.
...............................
93,213
2,321,004
NetApp,
Inc.
............................
26,484
2,626,153
Pure
Storage,
Inc.
,
Class
A
(a)
.................
47,276
2,533,521
Security
Shares
Value
a
Technology
Hardware,
Storage
&
Peripherals
(continued)
Seagate
Technology
Holdings
PLC
.............
25,040
$
2,953,218
Super
Micro
Computer,
Inc.
(a)
(b)
................
62,434
2,498,609
Western
Digital
Corp.
(a)
.....................
52,986
2,731,428
23,460,766
a
Textiles,
Apparel
&
Luxury
Goods
 — 
0
.5
%
Deckers
Outdoor
Corp.
(a)
(b)
...................
20,723
2,186,691
Lululemon
Athletica,
Inc.
(a)
...................
8,170
2,587,194
NIKE,
Inc.
,
Class
B
.......................
42,787
2,592,464
7,366,349
a
Tobacco
 — 
0
.4
%
Altria
Group,
Inc.
.........................
45,141
2,735,996
Philip
Morris
International,
Inc.
................
15,431
2,786,684
5,522,680
a
Trading
Companies
&
Distributors
 — 
0
.9
%
Fastenal
Co.
............................
64,661
2,673,086
Ferguson
Enterprises,
Inc.
...................
14,628
2,667,269
United
Rentals,
Inc.
.......................
3,747
2,654,300
Watsco,
Inc.
............................
5,658
2,509,719
WW
Grainger,
Inc.
........................
2,414
2,625,370
13,129,744
a
Water
Utilities
 — 
0
.4
%
American
Water
Works
Co.,
Inc.
...............
18,565
2,654,238
Essential
Utilities,
Inc.
......................
68,181
2,627,014
5,281,252
a
Wireless
Telecommunication
Services
 — 
0
.2
%
T-Mobile
U.S.,
Inc.
........................
11,065
2,679,943
a
Total
Long-Term
Investments — 99.6%
(Cost:
$
1,299,964,116
)
...............................
1,430,309,561
a
Short-Term
Securities
Money
Market
Funds
 — 
2
.2
%
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
4.46
%
(c)
(d)
(e)
......................
27,608,012
27,619,055
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
,
4.30
%
(c)
(d)
............................
3,128,375
3,128,375
a
Total
Short-Term
Securities — 2.2%
(Cost:
$
30,737,494
)
.................................
30,747,430
Total
Investments
—
101.8%
(Cost:
$
1,330,701,610
)
...............................
1,461,056,991
Liabilities
in
Excess
of
Other
Assets
—
(
1
.8
)
%
...............
(
25,425,316
)
Net
Assets
—
100.0%
.................................
$
1,435,631,675
(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.
iShares
®
MSCI
USA
Equal
Weighted
ETF
Schedule
of
Investments
(unaudited)
(continued)
May
31,
2025
7
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
at
the
measurement
date.
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
that
the
Fund
has
the
ability
to
access
for
identical
assets
or
liabilities;
Level
2
–
Inputs
other
than
quoted
prices
included
within
Level
1
that
are
observable
for
the
asset
or
liability,
either
directly
or
indirectly;
and
Level
3
–
Inputs
that
are
unobservable
and
significant
to
the
entire
fair
value
measurement
for
the
asset
or
liability
(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
that may
not have
a
secondary
market
and/or may
have 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. 
Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the
period
ended
May
31,
2025
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Affiliated
Issuer
Value
at
08/31/24
Purchases
at
Cost
Proceeds
from
Sale
s
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
05/31/25
  Shares
Held
at
05/31/25
Income
  Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
$
19,667,391
$
7,960,007
(a)
$
—
$
(
4,348
)
$
(
3,995
)
$
27,619,055
27,608,012
$
43,181
(b)
$
—
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
..
1,101,337
2,027,038
(a)
—
—
—
3,128,375
3,128,375
60,455
—
BlackRock,
Inc.
....
1,394,198
1,414,275
(
333,959
)
60,613
89,998
2,625,125
2,679
27,992
—
$
56,265
$
86,003
$
33,372,555
$
131,628
$
—
(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
collateral
investment
fees,
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
...................................................................
7
06/20/25
$
2,071
$
88,021
E-Mini
S&P
MidCap
400
Index
.............................................................
10
06/20/25
3,004
62,842
$
150,863
Schedule
of
Investments
(unaudited)
(continued)
May
31,
2025
iShares
®
MSCI
USA
Equal
Weighted
ETF
8
Level
1
Level
2
Level
3
Total
Assets
Investments
Long-Term
Investments
Common
Stocks
.........................................
$
1,430,309,561
$
—
$
—
$
1,430,309,561
Short-Term
Securities
Money
Market
Funds
......................................
30,747,430
—
—
30,747,430
$
1,461,056,991
$
—
$
—
$
1,461,056,991
Derivative
Financial
Instruments
(a)
Assets
Equity
Contracts
...........................................
$
150,863
$
—
$
—
$
150,863
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)