Schedule of Investments (unaudited) 
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 

Shares
Value
Common Stocks
Aerospace & Defense — 1.8%
AAR Corp.(a)
1,649
$  174,646
Archer Aviation, Inc., Class A(a)(b)
22,269
160,114
Astronics Corp.(a)
1,230
93,172
ATI, Inc.(a)
5,972
718,432
Cadre Holdings, Inc.
1,052
42,091
Ducommun, Inc.(a)
564
63,929
Eve Holding, Inc., Class A(a)
2,194
8,644
Firefly Aerospace, Inc.(a)(b)
1,155
29,106
Hexcel Corp.
3,586
296,957
Huntington Ingalls Industries, Inc.
1,739
731,267
Intuitive Machines, Inc., Class A(a)(b)
4,916
93,355
Karman Holdings, Inc.(a)(b)
1,577
163,693
Kratos Defense & Security Solutions, Inc.(a)
7,322
754,239
Leonardo DRS, Inc.
3,268
134,184
Loar Holdings, Inc.(a)(b)
1,044
71,597
Mercury Systems, Inc.(a)
2,298
215,736
Moog, Inc., Class A
1,254
382,909
National Presto Industries, Inc.
224
28,538
Red Cat Holdings, Inc.(a)(b)
4,739
63,976
Redwire Corp.(a)(b)
2,164
25,427
StandardAero, Inc.(a)(b)
4,957
153,122
V2X, Inc.(a)(b)
755
51,967
Voyager Technologies, Inc., Class A(a)(b)
559
17,066
VSE Corp.(b)
936
204,581
 
4,678,748
Air Freight & Logistics — 0.2%
GXO Logistics, Inc.(a)
5,165
292,287
Hub Group, Inc., Class A
2,463
117,190
 
409,477
Automobile Components — 1.1%
Adient PLC(a)
3,670
76,336
Autoliv, Inc.
3,022
366,387
BorgWarner, Inc.
9,255
438,780
Dana, Inc.
4,712
136,177
Dorman Products, Inc.(a)
1,167
144,941
Fox Factory Holding Corp.(a)
1,788
32,899
Garrett Motion, Inc.
5,090
91,824
Gentex Corp.
9,336
214,821
Gentherm, Inc.(a)
1,322
42,251
Goodyear Tire & Rubber Co. (The)(a)
11,564
108,817
Kodiak AI, Inc.(a)(b)
4,416
40,230
LCI Industries
1,078
158,132
Lear Corp.
2,367
277,152
Mobileye Global, Inc., Class A(a)(b)
6,888
61,854
Patrick Industries, Inc.
1,437
181,306
Phinia, Inc.
1,752
124,690
QuantumScape Corp., Class A(a)(b)
20,269
179,381
Solid Power, Inc., Class A(a)
6,403
28,686
Standard Motor Products, Inc.
938
37,454
Visteon Corp.
1,076
97,765
XPEL, Inc.(a)
959
49,398
 
2,889,281
Automobiles — 0.2%
Harley-Davidson, Inc.
4,957
98,149
Lucid Group, Inc.(a)(b)
6,489
71,833
Thor Industries, Inc.
2,265
253,385
Winnebago Industries, Inc.
1,104
50,685
 
474,052
Security
 
Shares
Value
Banks — 6.7%
1st Source Corp.
835
$  56,221
Amalgamated Financial Corp.
725
28,159
Ameris Bancorp
2,744
221,221
Associated Banc-Corp.
7,277
198,371
Atlantic Union Bankshares Corp.
5,834
226,593
Axos Financial, Inc.(a)
2,196
217,382
Banc of California, Inc.
5,489
109,670
BancFirst Corp.
906
99,615
Bancorp, Inc. (The)(a)
1,841
109,429
Bank First Corp.
408
56,932
Bank of Hawaii Corp.
1,740
130,117
Bank OZK
4,502
214,115
BankUnited, Inc.
3,130
148,581
Banner Corp.
1,400
86,576
Beacon Financial Corp.
3,606
102,230
BOK Financial Corp.
924
120,065
Burke & Herbert Financial Services Corp.
588
38,502
Business First Bancshares, Inc.
1,270
35,776
Byline Bancorp, Inc.
1,431
45,692
Capitol Federal Financial, Inc.
5,275
38,402
Cathay General Bancorp
2,852
145,965
Central Pacific Financial Corp.
1,167
38,009
City Holding Co.
615
75,700
CNB Financial Corp.
1,327
36,758
Coastal Financial Corp.(a)
540
51,721
Columbia Banking System, Inc.
12,624
371,651
Columbia Financial, Inc.(a)
1,175
19,117
Commerce Bancshares, Inc.
6,100
321,104
Community Financial System, Inc.
2,236
139,750
Community Trust Bancorp, Inc.
722
44,547
ConnectOne Bancorp, Inc.
2,108
56,115
Cullen/Frost Bankers, Inc.
2,658
366,326
Customers Bancorp, Inc.(a)
1,410
111,418
CVB Financial Corp.
5,350
105,449
Dime Community Bancshares, Inc.
1,821
61,950
East West Bancorp, Inc.
6,192
708,613
Eastern Bankshares, Inc.
9,444
193,460
Enterprise Financial Services Corp.
1,631
93,538
Equity Bancshares, Inc., Class A
679
31,316
Esquire Financial Holdings, Inc.
334
35,614
FB Financial Corp.
1,715
98,664
First Bancorp
1,695
98,191
First Bancorp
6,528
144,399
First Busey Corp.
3,854
95,001
First Commonwealth Financial Corp.
4,158
74,969
First Financial Bancorp
4,051
116,426
First Financial Bankshares, Inc.
5,340
169,919
First Hawaiian, Inc.
5,307
140,901
First Horizon Corp.
21,944
537,409
First Interstate BancSystem, Inc., Class A
4,056
143,866
First Merchants Corp.
2,673
106,279
First Mid Bancshares, Inc.
933
39,279
Firstsun Capital Bancorp(a)(b)
490
19,345
Five Star Bancorp
685
27,140
Flagstar Bank N.A.
13,260
175,297
FNB Corp.
14,574
255,774
Fulton Financial Corp.
8,127
167,823
German American Bancorp, Inc.
1,652
69,500
Glacier Bancorp, Inc.
5,415
274,432
Hancock Whitney Corp.
3,650
251,120
Hanmi Financial Corp.
1,367
36,321
Heritage Financial Corp.
1,379
35,592
1

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Banks (continued)
Hilltop Holdings, Inc.
1,858
$  69,582
Home BancShares, Inc.
8,159
235,795
HomeTrust Bancshares, Inc.
692
29,839
Hope Bancorp, Inc.
5,493
65,806
Horizon Bancorp, Inc.
2,264
39,892
Independent Bank Corp.
2,086
168,507
International Bancshares Corp.
2,382
165,883
Lakeland Financial Corp.
1,096
65,322
Live Oak Bancshares, Inc.
1,597
63,816
Mechanics Bancorp, Class A
2,068
30,999
Mercantile Bank Corp.
688
35,762
Metropolitan Bank Holding Corp.
434
40,188
MidWestOne Financial Group, Inc.
624
28,904
National Bank Holdings Corp., Class A
1,491
59,908
NB Bancorp, Inc.
1,809
39,292
NBT Bancorp, Inc.
2,145
95,302
Nicolet Bankshares, Inc.
614
89,632
Northeast Bank
361
41,598
Northwest Bancshares, Inc.
5,772
74,343
OceanFirst Financial Corp.
2,492
46,725
OFG Bancorp
1,857
74,837
Old National Bancorp
15,374
375,587
Old Second Bancorp, Inc.
2,270
45,037
Origin Bancorp, Inc.
1,280
54,822
Park National Corp.
640
104,282
Pathward Financial, Inc.
1,038
93,721
Peoples Bancorp, Inc.
1,498
48,715
Pinnacle Financial Partners, Inc.
6,557
623,505
Popular, Inc.
2,866
382,697
Prosperity Bancshares, Inc.
4,033
278,317
Provident Financial Services, Inc.
5,371
118,914
QCR Holdings, Inc.
684
61,738
Renasant Corp.
4,080
153,857
Republic Bancorp, Inc., Class A
387
28,100
S&T Bancorp, Inc.
1,553
66,220
Seacoast Banking Corp. of Florida
3,548
118,645
ServisFirst Bancshares, Inc.
2,407
197,013
Simmons First National Corp., Class A
5,986
121,695
Southside Bancshares, Inc.
1,270
40,881
SouthState Bank Corp.
4,320
442,066
Stellar Bancorp, Inc.
2,141
79,517
Stock Yards Bancorp, Inc.
1,174
79,468
Texas Capital Bancshares, Inc.(a)
1,924
194,651
Tompkins Financial Corp.
581
46,550
Towne Bank
3,087
108,045
TriCo Bancshares
1,400
69,748
Triumph Financial, Inc.(a)
943
59,494
TrustCo Bank Corp.
802
34,807
Trustmark Corp.
2,552
108,511
UMB Financial Corp.
3,187
405,195
United Bankshares, Inc.
6,229
263,674
United Community Banks, Inc.
5,021
172,873
Univest Financial Corp.
1,325
43,911
Valley National Bancorp
20,123
250,733
WaFd, Inc.
3,336
108,820
Webster Financial Corp.
7,239
476,109
WesBanco, Inc.
3,955
139,572
Westamerica BanCorp
1,030
52,097
Western Alliance Bancorp
4,916
438,261
Wintrust Financial Corp.
2,811
414,594
Security
 
Shares
Value
Banks (continued)
WSFS Financial Corp.
2,395
$  155,028
Zions Bancorp N.A.
6,288
376,714
 
17,365,533
Beverages — 0.7%
Boston Beer Co., Inc. (The), Class A(a)
346
73,913
Brown-Forman Corp., Class A
1,944
54,102
Brown-Forman Corp., Class B, NVS
12,970
354,989
Celsius Holdings, Inc.(a)
7,273
381,687
Coca-Cola Consolidated, Inc.
2,325
353,540
Molson Coors Beverage Co., Class B
7,502
360,396
National Beverage Corp.(a)
1,191
40,589
Primo Brands Corp., Class A
9,145
173,206
Vita Coco Co., Inc. (The)(a)
1,841
98,217
 
1,890,639
Biotechnology — 6.0%
ACADIA Pharmaceuticals, Inc.(a)
5,494
138,064
ADMA Biologics, Inc.(a)
10,342
178,917
Agios Pharmaceuticals, Inc.(a)
2,604
71,454
Alkermes PLC(a)
6,980
236,552
Amicus Therapeutics, Inc.(a)
11,332
161,934
AnaptysBio, Inc.(a)
845
40,061
Anavex Life Sciences Corp.(a)(b)
3,657
17,188
Apellis Pharmaceuticals, Inc.(a)
3,598
81,243
Apogee Therapeutics, Inc.(a)(b)
1,511
98,986
Arbutus Biopharma Corp.(a)(b)
5,888
24,317
Arcellx, Inc.(a)
1,701
116,195
Arcus Biosciences, Inc.(a)
3,804
80,036
Arcutis Biotherapeutics, Inc.(a)
4,837
122,715
Ardelyx, Inc.(a)
9,907
76,185
ArriVent Biopharma, Inc.(a)(b)
570
12,819
Arrowhead Pharmaceuticals, Inc.(a)
5,324
369,113
ARS Pharmaceuticals, Inc.(a)(b)
1,389
13,876
Aurinia Pharmaceuticals, Inc.(a)
5,328
77,416
Avidity Biosciences, Inc.(a)
5,201
377,437
Beam Therapeutics, Inc.(a)(b)
4,079
112,662
Bicara Therapeutics, Inc.(a)(b)
1,307
21,958
BioCryst Pharmaceuticals, Inc.(a)
9,443
62,135
Biohaven Ltd.(a)
5,295
62,640
BioMarin Pharmaceutical, Inc.(a)
8,457
478,159
BridgeBio Oncology Therapeutics, Inc.(a)(b)
2,699
31,632
Bridgebio Pharma, Inc.(a)
6,228
481,238
CareDx, Inc.(a)
2,425
49,834
Catalyst Pharmaceuticals, Inc.(a)
5,086
123,590
Celcuity, Inc.(a)(b)
816
89,287
Celldex Therapeutics, Inc.(a)(b)
2,323
57,146
CG oncology, Inc.(a)
2,437
126,846
Cogent Biosciences, Inc.(a)
5,183
186,122
CRISPR Therapeutics AG(a)(b)
4,158
207,734
Cytokinetics, Inc.(a)(b)
5,227
330,294
Day One Biopharmaceuticals, Inc.(a)
2,915
32,531
Denali Therapeutics, Inc.(a)(b)
6,402
139,179
Dianthus Therapeutics, Inc.(a)
1,290
68,873
Disc Medicine, Inc.(a)
1,137
87,913
Dynavax Technologies Corp.(a)
4,649
71,990
Dyne Therapeutics, Inc.(a)
6,027
107,823
Exact Sciences Corp.(a)
8,170
836,118
Exelixis, Inc.(a)
11,194
462,984
Geron Corp.(a)
22,819
31,262
GRAIL, Inc.(a)(b)
1,096
107,211
Halozyme Therapeutics, Inc.(a)
5,487
393,473
Ideaya Biosciences, Inc.(a)
3,674
118,266
ImmunityBio, Inc.(a)(b)
14,855
92,844
2

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Biotechnology (continued)
Immunome, Inc.(a)(b)
4,030
$  99,219
Immunovant, Inc.(a)(b)
3,444
89,544
Inhibrx Biosciences, Inc.(a)
401
30,584
Intellia Therapeutics, Inc.(a)(b)
4,366
57,413
Ionis Pharmaceuticals, Inc.(a)(b)
6,592
544,961
Iovance Biotherapeutics, Inc.(a)(b)
11,473
29,256
Janux Therapeutics, Inc.(a)(b)
1,706
23,389
Kiniksa Pharmaceuticals International PLC(a)(b)
1,638
71,941
Kodiak Sciences, Inc.(a)(b)
1,682
38,299
Krystal Biotech, Inc., Class A3(a)
1,143
319,171
Kura Oncology, Inc.(a)
3,005
24,401
Kymera Therapeutics, Inc.(a)
2,407
174,965
Lexeo Therapeutics, Inc.(a)
2,524
18,703
Madrigal Pharmaceuticals, Inc.(a)
813
397,809
MannKind Corp.(a)(b)
13,213
76,371
MapLight Therapeutics, Inc.(a)
736
13,020
MeiraGTx Holdings PLC(a)(b)
1,571
11,955
MiMedx Group, Inc.(a)
5,118
26,153
Mineralys Therapeutics, Inc.(a)(b)
2,223
68,668
Mirum Pharmaceuticals, Inc.(a)
1,724
177,951
Moderna, Inc.(a)
15,331
675,637
Monte Rosa Therapeutics, Inc.(a)
1,934
39,686
Myriad Genetics, Inc.(a)
3,779
21,238
Neurocrine Biosciences, Inc.(a)
4,384
596,487
Novavax, Inc.(a)(b)
6,080
53,778
Nurix Therapeutics, Inc.(a)
3,771
62,297
Nuvalent, Inc., Class A(a)
1,988
204,545
Palvella Therapeutics, Inc.(a)(b)
278
21,320
Praxis Precision Medicines, Inc.(a)
996
312,744
Precigen, Inc.(a)(b)
8,046
36,127
Prime Medicine, Inc.(a)(b)
3,423
13,042
Protagonist Therapeutics, Inc.(a)
2,323
190,021
PTC Therapeutics, Inc.(a)
3,121
235,729
RAPT Therapeutics, Inc.(a)
561
32,358
Recursion Pharmaceuticals, Inc., Class A(a)(b)
14,843
62,192
Relay Therapeutics, Inc.(a)(b)
5,568
42,651
Replimune Group, Inc.(a)(b)
2,272
15,972
Revolution Medicines, Inc.(a)
6,685
648,111
Rezolute, Inc.(a)
3,325
11,105
Rhythm Pharmaceuticals, Inc.(a)
2,335
239,384
Roivant Sciences Ltd.(a)
17,198
371,821
Sarepta Therapeutics, Inc.(a)
4,423
89,964
Savara, Inc.(a)
3,726
20,120
Scholar Rock Holding Corp.(a)(b)
3,125
138,562
Sionna Therapeutics, Inc.(a)
517
21,848
Soleno Therapeutics, Inc.(a)
1,928
74,344
Spyre Therapeutics, Inc.(a)(b)
2,523
80,686
Syndax Pharmaceuticals, Inc.(a)
3,549
72,080
Tango Therapeutics, Inc.(a)(b)
3,327
38,626
Taysha Gene Therapies, Inc.(a)(b)
8,051
36,310
TG Therapeutics, Inc.(a)
6,414
188,764
Travere Therapeutics, Inc.(a)
3,752
116,650
Twist Bioscience Corp.(a)(b)
2,661
109,287
Ultragenyx Pharmaceutical, Inc.(a)
3,886
93,536
uniQure NV(a)
2,373
53,915
Vaxcyte, Inc.(a)
5,078
272,028
Vera Therapeutics, Inc., Class A(a)
2,384
103,132
Veracyte, Inc.(a)
3,206
122,084
Vericel Corp.(a)
2,186
78,652
Viking Therapeutics, Inc.(a)(b)
4,704
136,604
Vir Biotechnology, Inc.(a)
4,036
30,028
Viridian Therapeutics, Inc.(a)
3,561
117,513
Security
 
Shares
Value
Biotechnology (continued)
Xencor, Inc.(a)
2,627
$  31,760
Zymeworks, Inc.(a)
1,763
39,720
 
15,512,483
Broadline Retail — 0.4%
Dillards, Inc., Class A(b)
175
106,323
Etsy, Inc.(a)
4,365
231,170
Groupon, Inc.(a)
1,102
15,593
Kohls Corp.
4,675
81,672
Macys, Inc.
11,741
235,055
Ollies Bargain Outlet Holdings, Inc.(a)(b)
2,726
300,705
Pattern Group, Inc., Class A(a)(b)
1,391
19,224
Savers Value Village, Inc.(a)(b)
1,069
11,075
 
1,000,817
Building Products — 2.3%
A. O. Smith Corp.
5,067
372,374
AAON, Inc.
2,988
272,087
Advanced Drainage Systems, Inc.
3,068
466,459
American Woodmark Corp.(a)
652
38,722
Apogee Enterprises, Inc.
872
32,377
Armstrong World Industries, Inc.
1,914
351,678
AZZ, Inc.(b)
1,253
155,736
Builders FirstSource, Inc.(a)
5,048
577,491
CSW Industrials, Inc.(b)
730
197,086
Fortune Brands Innovations, Inc.
5,151
278,669
Gibraltar Industries, Inc.(a)
1,327
68,022
Griffon Corp.
1,785
145,388
Hayward Holdings, Inc.(a)
9,052
146,099
Janus International Group, Inc.(a)
4,855
33,305
Masco Corp.
9,366
618,999
Masterbrand, Inc.(a)
5,419
65,678
Modine Manufacturing Co.(a)
2,201
406,437
Owens Corning
3,798
455,152
Resideo Technologies, Inc.(a)
6,165
211,213
Simpson Manufacturing Co., Inc.
1,867
330,048
Tecnoglass, Inc.
1,039
50,818
Trex Co., Inc.(a)
4,761
197,201
UFP Industries, Inc.
2,683
277,100
Zurn Elkay Water Solutions Corp.
6,743
310,920
 
6,059,059
Capital Markets — 3.5%
Acadian Asset Management, Inc.
1,241
68,776
Affiliated Managers Group, Inc.
1,276
399,503
Artisan Partners Asset Management, Inc., Class A
3,062
136,320
BGC Group, Inc., Class A
15,780
143,756
Blue Owl Capital, Inc., Class A
27,395
373,668
Cohen & Steers, Inc.
1,243
79,875
DigitalBridge Group, Inc., Class A
6,774
104,252
Donnelley Financial Solutions, Inc.(a)
1,096
56,718
Evercore, Inc., Class A
1,660
586,428
FactSet Research Systems, Inc.
1,688
429,360
Federated Hermes, Inc., Class B, NVS
3,605
192,074
Franklin Resources, Inc.
12,755
339,538
Freedom Holding Corp.(a)(b)
816
100,939
Galaxy Digital, Inc., Class A(a)(b)
8,357
236,169
Gemini Space Station, Inc., Class A(a)(b)
1,596
13,311
Hamilton Lane, Inc., Class A
1,691
238,837
Houlihan Lokey, Inc., Class A
2,402
404,305
Invesco Ltd.
15,207
414,999
Janus Henderson Group PLC
5,329
256,485
Jefferies Financial Group, Inc.
7,095
434,072
Lazard, Inc.
4,196
225,409
3

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Capital Markets (continued)
MarketAxess Holdings, Inc.
1,646
$  278,552
Miami International Holdings, Inc.(a)(b)
726
30,296
Moelis & Co., Class A
3,305
236,869
Morningstar, Inc.
1,118
225,937
Oppenheimer Holdings, Inc., Class A, NVS
268
22,520
P10, Inc., Class A
2,424
26,131
Perella Weinberg Partners, Class A
2,606
58,140
Piper Sandler Cos.
679
235,172
PJT Partners, Inc., Class A
987
170,780
SEI Investments Co.
4,275
375,559
StepStone Group, Inc., Class A
2,815
198,992
Stifel Financial Corp.
4,507
555,713
StoneX Group, Inc.(a)
2,008
225,418
Strive, Inc., Class A(a)
33,512
27,517
TPG, Inc., Class A
5,697
335,610
Tradeweb Markets, Inc., Class A
5,145
530,295
Victory Capital Holdings, Inc., Class A
2,049
144,516
Virtu Financial, Inc., Class A
3,606
149,685
Virtus Investment Partners, Inc.
281
45,873
WisdomTree, Inc.
5,209
84,386
 
9,192,755
Chemicals — 2.3%
Albemarle Corp.
5,208
888,641
Ashland, Inc.
1,977
120,913
ASP Isotopes, Inc.(a)(b)
3,491
22,133
Avient Corp.
3,894
140,768
Axalta Coating Systems Ltd.(a)
9,188
308,533
Balchem Corp.
1,441
245,215
Cabot Corp.
2,266
163,582
Celanese Corp., Class A
4,569
203,046
CF Industries Holdings, Inc.
6,955
648,415
Chemours Co. (The)
6,508
97,555
Eastman Chemical Co.
5,130
355,611
Ecovyst, Inc.(a)
4,780
50,716
Element Solutions, Inc.
9,682
281,746
FMC Corp.
5,162
81,560
Hawkins, Inc.
855
111,364
HB Fuller Co.
2,316
139,192
Huntsman Corp.
6,838
73,987
Ingevity Corp.(a)
1,434
94,343
Innospec, Inc.
1,058
86,460
Minerals Technologies, Inc.
1,306
85,882
Mosaic Co. (The)
13,632
374,880
NewMarket Corp.
320
214,653
Olin Corp.
4,869
101,324
Perimeter Solutions, Inc.(a)(b)
5,944
155,436
PureCycle Technologies, Inc.(a)(b)
5,850
55,926
Quaker Chemical Corp.
620
95,319
Scotts Miracle-Gro Co. (The)
1,902
122,146
Sensient Technologies Corp.
1,880
177,697
Solstice Advanced Materials, Inc.(a)
7,052
435,602
Stepan Co.
901
51,907
Westlake Corp.
1,521
120,646
 
6,105,198
Commercial Services & Supplies — 1.2%
ABM Industries, Inc.
2,581
118,829
ACV Auctions, Inc., Class A(a)
6,895
53,850
Brady Corp., Class A, NVS
1,895
163,861
BrightView Holdings, Inc.(a)
2,523
33,707
Brinks Co. (The)
1,832
232,737
Casella Waste Systems, Inc., Class A(a)(b)
2,751
277,521
Cimpress PLC(a)
674
53,307
Security
 
Shares
Value
Commercial Services & Supplies (continued)
Clean Harbors, Inc.(a)
2,261
$  587,656
CoreCivic, Inc.(a)
4,882
90,463
Deluxe Corp.
1,780
46,992
Enviri Corp.(a)
3,192
60,393
GEO Group, Inc. (The)(a)
5,945
95,001
Healthcare Services Group, Inc.(a)
3,011
56,667
HNI Corp.
2,949
140,933
Interface, Inc., Class A
2,379
74,867
Liquidity Services, Inc.(a)
1,016
32,512
MillerKnoll, Inc.
2,972
59,678
MSA Safety, Inc.
1,639
290,349
OPENLANE, Inc.(a)
4,474
134,399
Pitney Bowes, Inc.
1,853
19,327
Tetra Tech, Inc.
11,135
419,344
UniFirst Corp.
644
138,460
Vestis Corp.
5,794
37,835
 
3,218,688
Communications Equipment — 1.0%
ADTRAN Holdings, Inc.(a)(b)
3,282
30,260
Applied Optoelectronics, Inc.(a)(b)
2,812
122,631
Calix, Inc.(a)
2,615
116,812
Digi International, Inc.(a)
1,555
66,974
Extreme Networks, Inc.(a)
6,014
87,684
Harmonic, Inc.(a)
5,044
49,028
Lumentum Holdings, Inc.(a)(b)
3,066
1,201,382
NETGEAR, Inc.(a)
1,226
25,636
NetScout Systems, Inc.(a)
2,927
81,400
Ondas, Inc.(a)(b)
16,265
168,505
Viasat, Inc.(a)
4,572
206,517
Viavi Solutions, Inc.(a)
9,218
225,472
Vistance Networks, Inc.(a)
8,981
161,658
 
2,543,959
Construction & Engineering — 1.7%
API Group Corp.(a)(b)
13,759
571,962
Arcosa, Inc.
2,034
232,832
Argan, Inc.
577
200,282
Bowman Consulting Group Ltd.(a)(b)
598
20,828
Centuri Holdings, Inc.(a)
1,095
30,222
Construction Partners, Inc., Class A(a)(b)
2,072
227,671
Dycom Industries, Inc.(a)
1,231
448,564
Everus Construction Group, Inc.(a)(b)
2,253
199,368
Fluor Corp.(a)
7,033
324,854
Granite Construction, Inc.(b)
1,830
220,954
Great Lakes Dredge & Dock Corp.(a)
2,803
41,989
IES Holdings, Inc.(a)(b)
374
142,228
Legence Corp., Class A(a)
1,208
56,667
Limbach Holdings, Inc.(a)
470
40,411
MYR Group, Inc.(a)
665
166,277
Primoris Services Corp.
2,374
351,946
Sterling Infrastructure, Inc.(a)
1,353
484,252
Terrestrial Energy, Inc., Class A(a)(b)
2,338
21,299
Tutor Perini Corp.
1,937
152,810
Valmont Industries, Inc.
892
397,440
WillScot Holdings Corp., Class A
8,162
163,485
 
4,496,341
Construction Materials — 0.2%
Eagle Materials, Inc.
1,468
299,193
Knife River Corp.(a)
2,263
152,006
United States Lime & Minerals, Inc.(b)
482
58,095
 
509,294
4

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Consumer Finance — 1.0%
Ally Financial, Inc.
12,255
$  518,141
Atlanticus Holdings Corp.(a)(b)
257
13,269
Bread Financial Holdings, Inc.
2,027
147,039
Credit Acceptance Corp.(a)(b)
260
129,542
Dave, Inc., Class A(a)
439
71,860
Encore Capital Group, Inc.(a)
921
50,839
Enova International, Inc.(a)
1,065
175,906
EZCORP, Inc., Class A, NVS(a)(b)
2,423
51,973
Figure Technology Solutions, Inc., Class A(a)(b)
1,375
78,210
FirstCash Holdings, Inc.
1,780
303,490
Jefferson Capital, Inc.
432
9,232
LendingClub Corp.(a)
4,971
84,060
LendingTree, Inc.(a)
500
28,330
Navient Corp.
3,089
30,303
Nelnet, Inc., Class A
512
67,533
OneMain Holdings, Inc.
5,288
346,576
PROG Holdings, Inc.
1,764
57,224
SLM Corp.
8,780
238,377
Upstart Holdings, Inc.(a)
3,689
144,793
 
2,546,697
Consumer Staples Distribution & Retail — 0.7%
Albertsons Cos., Inc., Class A
16,842
280,419
Andersons, Inc. (The)
1,473
91,311
BJs Wholesale Club Holdings, Inc.(a)
5,153
476,343
Chefs Warehouse, Inc. (The)(a)
1,597
100,451
Grocery Outlet Holding Corp.(a)
3,881
36,986
Ingles Markets, Inc., Class A
625
46,788
Maplebear, Inc.(a)
8,191
304,378
Natural Grocers by Vitamin Cottage, Inc.
297
8,114
PriceSmart, Inc.
1,023
145,481
Sprouts Farmers Market, Inc.(a)
4,365
309,522
United Natural Foods, Inc.(a)
2,639
98,250
Weis Markets, Inc.
548
38,990
 
1,937,033
Containers & Packaging — 1.3%
AptarGroup, Inc.
2,918
364,604
Avery Dennison Corp.
3,494
648,172
Ball Corp.
11,881
675,673
Crown Holdings, Inc.
5,196
543,917
Graphic Packaging Holding Co.
12,182
178,466
Greif, Inc., Class A, NVS
1,052
74,292
O-I Glass, Inc.(a)
6,419
98,083
Sealed Air Corp.
6,258
262,085
Silgan Holdings, Inc.
3,928
169,493
Sonoco Products Co.
4,327
207,696
TriMas Corp.
1,440
50,069
 
3,272,550
Distributors — 0.3%
LKQ Corp.
11,448
376,067
Pool Corp.
1,635
415,437
 
791,504
Diversified Consumer Services — 1.2%
ADT, Inc.
15,517
124,136
Adtalem Global Education, Inc.(a)
1,639
169,719
Bright Horizons Family Solutions, Inc.(a)
2,441
226,110
Carriage Services, Inc.
619
26,561
Coursera, Inc.(a)(b)
5,139
31,142
Driven Brands Holdings, Inc.(a)(b)
2,750
42,763
Duolingo, Inc., Class A(a)
1,737
232,862
Frontdoor, Inc.(a)
3,189
188,502
Graham Holdings Co., Class B
148
172,661
Security
 
Shares
Value
Diversified Consumer Services (continued)
Grand Canyon Education, Inc.(a)
1,238
$  215,214
H&R Block, Inc.
5,974
235,674
KinderCare Learning Cos., Inc.(a)
1,487
6,944
Laureate Education, Inc., Class A(a)
5,471
187,655
Liberty Live Holdings, Inc., Class A(a)
884
71,109
Liberty Live Holdings, Inc., Class C(a)
2,044
168,794
Matthews International Corp., Class A
1,280
33,651
McGraw Hill, Inc.(a)(b)
1,094
16,137
Mister Car Wash, Inc.(a)
4,550
25,253
OneSpaWorld Holdings Ltd.
4,069
79,956
Perdoceo Education Corp.
2,878
92,182
Service Corp. International
6,303
506,950
Strategic Education, Inc.
963
81,874
Stride, Inc.(a)
1,790
151,434
Udemy, Inc.(a)
3,688
17,739
Universal Technical Institute, Inc.(a)
2,072
57,664
 
3,162,686
Diversified REITs — 0.2%
Alexander & Baldwin, Inc.
3,224
66,866
American Assets Trust, Inc.
2,125
38,377
Broadstone Net Lease, Inc.
7,586
140,417
Essential Properties Realty Trust, Inc.
8,737
265,255
Global Net Lease, Inc.
8,750
82,775
 
593,690
Diversified Telecommunication Services — 0.4%
Cogent Communications Holdings, Inc.
2,017
49,013
GCI Liberty, Inc., Class A(a)
138
5,171
GCI Liberty, Inc., Class C, NVS(a)
1,272
47,051
Globalstar, Inc.(a)
2,202
135,687
IDT Corp., Class B
875
42,551
Iridium Communications, Inc.
4,359
86,831
Liberty Global Ltd., Class A(a)
7,415
82,233
Liberty Global Ltd., Class C, NVS(a)
5,702
63,178
Liberty Latin America Ltd., Class A(a)
1,515
11,696
Liberty Latin America Ltd., Class C, NVS(a)
4,846
37,702
Lumen Technologies, Inc.(a)
40,472
356,963
Uniti Group, Inc.(a)
8,319
69,214
 
987,290
Electric Utilities — 0.8%
Hawaiian Electric Industries, Inc.(a)
7,546
115,605
IDACORP, Inc.
2,271
301,566
MGE Energy, Inc.
1,628
130,045
OGE Energy Corp.
8,907
389,058
Otter Tail Corp.
1,844
164,411
Pinnacle West Capital Corp.
5,294
495,306
Portland General Electric Co.
4,849
243,662
TXNM Energy, Inc.
4,234
249,467
 
2,089,120
Electrical Equipment — 1.6%
Acuity, Inc.
1,335
412,835
Allient, Inc.
591
36,057
American Superconductor Corp.(a)
1,963
58,733
Amprius Technologies, Inc.(a)(b)
4,259
52,982
Array Technologies, Inc.(a)
6,086
68,924
Atkore, Inc.
1,455
101,050
EnerSys
1,680
302,719
Enovix Corp.(a)(b)
6,723
44,506
Eos Energy Enterprises, Inc., Class A(a)(b)
11,195
163,895
Generac Holdings, Inc.(a)
2,647
444,802
LSI Industries, Inc.
1,115
24,653
NANO Nuclear Energy, Inc.(a)(b)
1,315
38,654
5

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Electrical Equipment (continued)
Nextpower, Inc., Class A(a)(b)
6,384
$  747,503
NuScale Power Corp., Class A(a)
7,038
123,024
Plug Power, Inc.(a)
46,530
98,411
Powell Industries, Inc.
412
182,759
Power Solutions International, Inc.(a)(b)
251
17,987
Preformed Line Products Co.
118
29,611
Regal Rexnord Corp.
2,945
475,618
Sensata Technologies Holding PLC
6,366
220,200
SES AI Corp., Class A(a)
8,316
16,881
Shoals Technologies Group, Inc., Class A(a)(b)
7,163
67,619
Sunrun, Inc.(a)
9,356
177,764
T1 Energy, Inc.(a)
7,034
58,593
Thermon Group Holdings, Inc.(a)
1,396
63,169
Vicor Corp.(a)
1,029
162,242
 
4,191,191
Electronic Equipment, Instruments & Components — 2.3%
Advanced Energy Industries, Inc.(b)
1,678
428,494
Aeva Technologies, Inc.(a)(b)
684
8,735
Arlo Technologies, Inc.(a)
4,328
54,922
Arrow Electronics, Inc.(a)
2,098
277,964
Avnet, Inc.
3,454
215,495
Badger Meter, Inc.
1,299
190,407
Bel Fuse, Inc., Class B, NVS
461
92,749
Belden, Inc.
1,686
198,122
Benchmark Electronics, Inc.
1,404
73,205
Cognex Corp.
7,125
276,022
Crane NXT Co.
2,417
122,107
CTS Corp.
1,248
64,160
Daktronics, Inc.(a)
1,747
40,443
ePlus, Inc.
1,104
94,734
Evolv Technologies Holdings, Inc., Class A(a)
4,817
29,817
Insight Enterprises, Inc.(a)
1,216
102,168
IPG Photonics Corp.(a)
1,137
105,070
Itron, Inc.(a)
2,020
200,142
Kimball Electronics, Inc.(a)
1,041
31,449
Knowles Corp.(a)
3,660
88,718
Littelfuse, Inc.
1,103
357,107
Mirion Technologies, Inc., Class A(a)
10,064
249,990
Napco Security Technologies, Inc.
1,547
57,069
Novanta, Inc.(a)
1,584
213,111
OSI Systems, Inc.(a)
701
175,348
Ouster, Inc.(a)(b)
2,447
50,971
PC Connection, Inc.
525
30,875
Plexus Corp.(a)
1,131
225,442
Powerfleet, Inc.(a)
5,180
26,470
Ralliant Corp.
5,012
265,486
Rogers Corp.(a)
727
70,693
Sanmina Corp.(a)
2,209
312,971
ScanSource, Inc.(a)
1,068
45,913
TD SYNNEX Corp.
3,363
533,607
TTM Technologies, Inc.(a)
4,193
411,753
Vishay Intertechnology, Inc.
4,570
92,086
Vontier Corp.
6,645
249,188
 
6,063,003
Energy Equipment & Services — 1.1%
Archrock, Inc.
7,575
224,144
Atlas Energy Solutions, Inc.
3,280
38,278
Bristow Group, Inc.(a)
923
40,575
Cactus, Inc., Class A
3,030
170,377
Helix Energy Solutions Group, Inc.(a)
5,755
45,695
Helmerich & Payne, Inc.
4,193
142,059
Innovex International, Inc.(a)
1,712
42,543
Security
 
Shares
Value
Energy Equipment & Services (continued)
Kodiak Gas Services, Inc.
2,350
$  98,723
Liberty Energy, Inc., Class A
6,969
171,786
Noble Corp. PLC
5,586
198,973
NOV, Inc.
16,020
293,967
Oceaneering International, Inc.(a)
4,372
131,597
Patterson-UTI Energy, Inc.
14,932
112,438
RPC, Inc.
3,947
26,248
Seadrill Ltd.(a)
2,559
98,470
Select Water Solutions, Inc., Class A
3,619
43,754
Solaris Energy Infrastructure, Inc., Class A
1,985
109,552
TETRA Technologies, Inc.(a)
5,692
64,889
Tidewater, Inc.(a)
2,032
126,980
Transocean Ltd.(a)
38,427
190,982
Valaris Ltd.(a)
2,721
157,083
Weatherford International PLC
3,238
304,631
 
2,833,744
Entertainment — 0.6%
AMC Entertainment Holdings, Inc., Class A(a)(b)
22,378
31,105
Atlanta Braves Holdings, Inc., Class A(a)(b)
471
20,733
Atlanta Braves Holdings, Inc., Class C, NVS(a)
2,064
82,415
Cinemark Holdings, Inc.
4,492
106,371
IMAX Corp.(a)
1,958
68,354
Lionsgate Studios Corp.(a)
9,772
92,248
Madison Square Garden Entertainment Corp.,
Class A(a)
1,742
107,778
Madison Square Garden Sports Corp., Class A(a)
749
212,379
Playtika Holding Corp.
3,384
12,250
Roku, Inc., Class A(a)
5,699
542,545
Sphere Entertainment Co., Class A(a)
1,092
104,297
Warner Music Group Corp., Class A
6,133
183,867
 
1,564,342
Financial Services — 1.6%
Better Home & Finance Holding Co.(a)(b)
206
6,244
Burford Capital Ltd.
8,919
86,425
Cannae Holdings, Inc.
2,072
29,858
Cantaloupe, Inc.(a)(b)
2,837
30,469
Enact Holdings, Inc.
1,453
57,786
Essent Group Ltd.
4,389
276,156
Euronet Worldwide, Inc.(a)
1,797
130,211
EVERTEC, Inc.
2,666
80,007
Federal Agricultural Mortgage Corp., Class C, NVS
375
63,488
Flywire Corp.(a)
4,713
59,384
HA Sustainable Infrastructure Capital, Inc.
5,292
182,098
Jack Henry & Associates, Inc.
3,234
579,565
Jackson Financial, Inc., Class A
2,881
342,609
Marqeta, Inc., Class A(a)(b)
17,478
72,184
Merchants Bancorp
909
37,687
MGIC Investment Corp.
9,357
251,890
NCR Atleos Corp.(a)
3,273
122,083
NMI Holdings, Inc., Class A(a)
3,204
124,059
Paymentus Holdings, Inc., Class A(a)(b)
2,278
60,891
Payoneer Global, Inc.(a)
9,105
58,181
PennyMac Financial Services, Inc., Class A
1,263
126,199
Radian Group, Inc.
6,353
209,014
Remitly Global, Inc.(a)
6,984
92,328
Sezzle, Inc.(a)(b)
851
53,817
Shift4 Payments, Inc., Class A(a)(b)
2,929
172,928
TFS Financial Corp.
2,333
32,837
UWM Holdings Corp., Class A
9,753
47,887
Velocity Financial, Inc.(a)
497
10,084
Voya Financial, Inc.
4,275
327,721
Walker & Dunlop, Inc.
1,430
89,933
6

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Financial Services (continued)
Western Union Co. (The)
14,706
$  137,795
WEX, Inc.(a)(b)
1,395
214,690
 
4,166,508
Food Products — 1.4%
Cal-Maine Foods, Inc.
1,908
159,375
Campbells Co. (The)
8,808
246,448
Conagra Brands, Inc.
21,217
392,727
Darling Ingredients, Inc.(a)
6,503
296,927
Flowers Foods, Inc.
8,772
100,264
Fresh Del Monte Produce, Inc.
1,624
64,408
Freshpet, Inc.(a)
2,039
142,118
Hormel Foods Corp.
12,805
315,131
Ingredion, Inc.
2,731
322,531
J & J Snack Foods Corp.
675
64,125
J M Smucker Co. (The)
4,656
488,228
Lamb Weston Holdings, Inc.
5,816
267,129
Marzetti Co. (The)
892
153,040
Mission Produce, Inc.(a)
2,102
28,293
Pilgrims Pride Corp.
1,818
78,846
Post Holdings, Inc.(a)
2,212
226,310
Seaboard Corp.
12
60,987
Seneca Foods Corp., Class A(a)
206
24,582
Simply Good Foods Co. (The)(a)
3,779
70,932
Tootsie Roll Industries, Inc.
793
30,039
TreeHouse Foods, Inc.(a)
2,012
49,576
Utz Brands, Inc., Class A
3,322
35,014
Vital Farms, Inc.(a)(b)
1,531
43,557
 
3,660,587
Gas Utilities — 0.8%
Chesapeake Utilities Corp.
1,005
129,323
MDU Resources Group, Inc.
8,595
176,284
National Fuel Gas Co.
4,028
337,345
New Jersey Resources Corp.
4,314
213,457
Northwest Natural Holding Co.
1,755
81,713
ONE Gas, Inc.
2,536
201,764
Southwest Gas Holdings, Inc.
2,614
216,492
Spire, Inc.
2,572
217,308
UGI Corp.
9,558
383,371
 
1,957,057
Ground Transportation — 0.9%
ArcBest Corp.
942
84,987
Avis Budget Group, Inc.(a)(b)
764
87,852
Hertz Global Holdings, Inc.(a)(b)
5,111
25,044
Knight-Swift Transportation Holdings, Inc.
6,978
384,488
Landstar System, Inc.
1,548
231,209
Lyft, Inc., Class A(a)(b)
17,430
294,044
Marten Transport Ltd.
2,354
28,954
RXO, Inc.(a)
7,332
106,901
Ryder System, Inc.
1,811
346,408
Saia, Inc.(a)
1,179
394,812
Schneider National, Inc., Class B
2,025
54,351
U-Haul Holding Co.(a)(b)
350
19,793
U-Haul Holding Co., NVS(b)
4,277
219,453
Werner Enterprises, Inc.
2,416
82,748
 
2,361,044
Health Care Equipment & Supplies — 2.4%
Align Technology, Inc.(a)
3,153
514,034
Alphatec Holdings, Inc.(a)
4,906
72,756
Artivion, Inc.(a)
1,930
78,686
AtriCure, Inc.(a)(b)
2,197
81,135
Axogen, Inc.(a)
1,765
61,510
Security
 
Shares
Value
Health Care Equipment & Supplies (continued)
Baxter International, Inc.(b)
22,767
$  456,934
Beta Bionics, Inc.(a)
746
10,317
CONMED Corp.
1,369
52,556
DENTSPLY SIRONA, Inc.
8,637
107,703
Embecta Corp.
2,434
25,825
Enovis Corp.(a)
2,494
54,968
Envista Holdings Corp.(a)
7,517
176,424
Establishment Labs Holdings, Inc.(a)(b)
1,093
74,488
Glaukos Corp.(a)
2,367
282,572
Globus Medical, Inc., Class A(a)
5,110
463,375
Haemonetics Corp.(a)
2,003
133,520
ICU Medical, Inc.(a)
1,031
154,547
Inspire Medical Systems, Inc.(a)
1,319
99,954
Integer Holdings Corp.(a)
1,538
133,591
Integra LifeSciences Holdings Corp.(a)
2,906
32,373
iRadimed Corp.
352
34,454
IRhythm Holdings, Inc.(a)
1,389
214,614
Kestra Medical Technologies Ltd.(a)(b)
1,316
32,466
Lantheus Holdings, Inc.(a)
3,001
200,827
LeMaitre Vascular, Inc.
921
78,257
LivaNova PLC(a)
2,402
157,835
Masimo Corp.(a)(b)
2,080
285,646
Merit Medical Systems, Inc.(a)
2,610
211,645
Neogen Corp.(a)
8,670
88,607
Novocure Ltd.(a)
4,372
54,213
OmniAb, Inc., 12.50 Earnout Shares(a)(c)
359
OmniAb, Inc., 15.00 Earnout Shares(a)(c)
359
Omnicell, Inc.(a)
1,964
95,254
Penumbra, Inc.(a)
1,651
591,339
PROCEPT BioRobotics Corp.(a)
2,332
67,535
Pulse Biosciences, Inc.(a)(b)
797
11,022
QuidelOrtho Corp.(a)(b)
2,957
80,342
Solventum Corp.(a)
6,145
472,981
STAAR Surgical Co.(a)(b)
1,480
28,046
Tandem Diabetes Care, Inc.(a)
2,954
58,755
Teleflex, Inc.
2,049
213,854
TransMedics Group, Inc.(a)
1,384
185,421
UFP Technologies, Inc.(a)
341
85,639
 
6,316,020
Health Care Providers & Services — 2.3%
Acadia Healthcare Co., Inc.(a)(b)
3,992
53,652
AdaptHealth Corp.(a)
4,052
40,723
Addus HomeCare Corp.(a)
787
81,439
Alignment Healthcare, Inc.(a)
4,767
107,400
AMN Healthcare Services, Inc.(a)
1,743
37,126
Ardent Health, Inc.(a)
1,069
8,734
Astrana Health, Inc.(a)
1,732
39,386
Aveanna Healthcare Holdings, Inc.(a)
2,564
21,538
BrightSpring Health Services, Inc.(a)
3,047
119,656
Brookdale Senior Living, Inc.(a)
9,721
145,815
Castle Biosciences, Inc.(a)
1,136
44,747
Chemed Corp.
644
275,078
Clover Health Investments Corp., Class A(a)(b)
16,639
37,271
Concentra Group Holdings Parent, Inc.
5,302
117,598
CorVel Corp.(a)
1,320
91,912
DaVita, Inc.(a)(b)
1,558
170,352
Encompass Health Corp.
4,284
404,967
Ensign Group, Inc. (The)
2,558
439,106
GeneDx Holdings Corp., Class A(a)
897
86,345
Guardant Health, Inc.(a)
5,138
585,937
Guardian Pharmacy Services, Inc., Class A(a)
973
29,385
HealthEquity, Inc.(a)
3,790
324,689
7

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Health Care Providers & Services (continued)
Henry Schein, Inc.(a)
4,649
$  350,907
Hims & Hers Health, Inc., Class A(a)(b)
9,059
245,408
Hinge Health, Inc., Class A(a)
635
22,161
LifeStance Health Group, Inc.(a)(b)
6,944
49,094
Molina Healthcare, Inc.(a)
2,261
406,053
National HealthCare Corp.
546
78,138
NeoGenomics, Inc.(a)
5,663
68,296
Nutex Health, Inc.(a)(b)
160
23,806
Omada Health, Inc.(a)
384
5,741
OPKO Health, Inc.(a)(b)
16,701
21,043
Option Care Health, Inc.(a)
7,248
246,432
PACS Group, Inc.(a)
1,993
67,284
Pediatrix Medical Group, Inc.(a)
3,752
80,218
Pennant Group, Inc. (The)(a)
1,432
39,552
Privia Health Group, Inc.(a)
4,908
113,964
Progyny, Inc.(a)
3,129
74,689
RadNet, Inc.(a)
2,890
202,589
Select Medical Holdings Corp.
4,684
70,494
Surgery Partners, Inc.(a)(b)
3,136
46,601
U.S. Physical Therapy, Inc.
649
54,432
Universal Health Services, Inc., Class B
2,485
500,131
 
6,029,889
Health Care REITs — 1.2%
Alexandria Real Estate Equities, Inc.
6,563
358,602
American Healthcare REIT, Inc.
7,238
339,535
CareTrust REIT, Inc.
9,436
352,340
Healthcare Realty Trust, Inc.
15,114
253,764
Healthpeak Properties, Inc.
30,953
533,630
LTC Properties, Inc.
1,968
71,773
Medical Properties Trust, Inc.
22,569
113,296
National Health Investors, Inc.
1,998
164,076
Omega Healthcare Investors, Inc.
12,780
560,787
Sabra Health Care REIT, Inc.
9,706
181,793
Sila Realty Trust, Inc.
2,384
58,050
 
2,987,646
Health Care Technology — 0.2%
Certara, Inc.(a)(b)
5,394
47,413
Claritev Corp., Class A(a)(b)
308
8,365
Doximity, Inc., Class A(a)
5,820
218,076
Evolent Health, Inc., Class A(a)
4,735
15,199
HealthStream, Inc.
1,039
23,159
HeartFlow, Inc.(a)
829
24,762
Phreesia, Inc.(a)
2,387
32,058
Schrodinger, Inc.(a)
2,471
34,520
Teladoc Health, Inc.(a)
7,645
41,665
Waystar Holding Corp.(a)
3,594
95,457
 
540,674
Hotel & Resort REITs — 0.5%
Apple Hospitality REIT, Inc.
9,857
114,736
DiamondRock Hospitality Co.
8,635
79,269
Host Hotels & Resorts, Inc.
31,165
577,487
Park Hotels & Resorts, Inc.
8,918
97,474
Pebblebrook Hotel Trust
5,261
60,081
RLJ Lodging Trust
6,631
49,268
Ryman Hospitality Properties, Inc.
2,726
258,152
Sunstone Hotel Investors, Inc.
8,270
72,528
Xenia Hotels & Resorts, Inc.
4,211
62,112
 
1,371,107
Hotels, Restaurants & Leisure — 2.9%
Accel Entertainment, Inc., Class A(a)
2,422
27,393
Aramark
11,639
447,985
Security
 
Shares
Value
Hotels, Restaurants & Leisure (continued)
Biglari Holdings, Inc., Class A(a)
2
$  3,938
Biglari Holdings, Inc., Class B, NVS(a)
30
11,251
BJs Restaurants, Inc.(a)
739
30,905
Boyd Gaming Corp.
2,487
210,251
Brinker International, Inc.(a)
1,964
309,762
Caesars Entertainment, Inc.(a)
9,024
186,797
Cava Group, Inc.(a)(b)
4,331
262,545
Cheesecake Factory, Inc. (The)
2,028
117,543
Choice Hotels International, Inc.(b)
1,207
124,080
Churchill Downs, Inc.
3,080
302,949
Cracker Barrel Old Country Store, Inc.(b)
1,023
30,813
Dominos Pizza, Inc.
1,409
578,155
Dutch Bros, Inc., Class A(a)
5,095
277,117
First Watch Restaurant Group, Inc.(a)
1,749
27,966
Global Business Travel Group I, Class A(a)(b)
6,416
43,950
Hilton Grand Vacations, Inc.(a)
2,342
105,648
Hyatt Hotels Corp., Class A
1,784
278,964
Life Time Group Holdings, Inc.(a)
5,387
157,139
Marriott Vacations Worldwide Corp.
1,281
69,571
MGM Resorts International(a)
8,862
297,231
Monarch Casino & Resort, Inc.
585
53,545
Navan, Inc., Class A(a)
1,616
18,552
Norwegian Cruise Line Holdings Ltd.(a)
19,737
433,424
Papa Johns International, Inc.
1,384
48,675
Penn Entertainment, Inc.(a)
6,397
82,137
Planet Fitness, Inc., Class A(a)
3,617
329,292
Pursuit Attractions & Hospitality, Inc.(a)
878
30,493
Red Rock Resorts, Inc., Class A
2,258
142,548
Rush Street Interactive, Inc., Class A(a)
3,810
67,323
Sabre Corp.(a)
16,203
21,064
Serve Robotics, Inc.(a)(b)
2,926
30,518
Shake Shack, Inc., Class A(a)
1,706
151,100
Sharplink Gaming, Inc.(a)(b)
8,881
78,863
Six Flags Entertainment Corp.(a)
4,088
73,625
Target Hospitality Corp.(a)
1,497
10,314
Texas Roadhouse, Inc.
2,962
532,745
Travel + Leisure Co.
2,846
197,911
United Parks & Resorts, Inc.(a)(b)
1,083
40,775
Vail Resorts, Inc.
1,564
208,121
Wendys Co. (The)
6,956
54,187
Wingstop, Inc.
1,233
327,275
Wyndham Hotels & Resorts, Inc.
3,230
235,112
Wynn Resorts Ltd.
3,709
398,532
 
7,468,084
Household Durables — 1.4%
Cavco Industries, Inc.(a)
325
159,906
Century Communities, Inc.
1,117
70,349
Champion Homes, Inc.(a)
2,366
185,447
Dream Finders Homes, Inc., Class A(a)
1,169
21,498
Green Brick Partners, Inc.(a)
1,355
94,023
Installed Building Products, Inc.
1,035
298,225
KB Home
2,935
168,880
La-Z-Boy, Inc.
1,658
60,368
Leggett & Platt, Inc.
5,845
68,211
LGI Homes, Inc.(a)
884
44,297
M/I Homes, Inc.(a)
1,115
149,076
Meritage Homes Corp.
3,160
219,652
Mohawk Industries, Inc.(a)
2,183
258,424
Newell Brands, Inc.
16,829
71,523
Sonos, Inc.(a)
4,884
70,085
Taylor Morrison Home Corp., Class A(a)
4,472
272,568
Toll Brothers, Inc.
4,428
639,802
8

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Household Durables (continued)
TopBuild Corp.(a)
1,239
$  579,914
Tri Pointe Homes, Inc.(a)
3,377
112,623
Whirlpool Corp.
2,465
197,175
 
3,742,046
Household Products — 0.2%
Central Garden & Pet Co.(a)(b)
408
13,803
Central Garden & Pet Co., Class A, NVS(a)
2,208
67,719
Energizer Holdings, Inc.
2,844
62,085
Reynolds Consumer Products, Inc.
2,458
56,952
Spectrum Brands Holdings, Inc.
971
61,862
WD-40 Co.
591
136,657
 
399,078
Independent Power and Renewable Electricity Producers — 0.4%
AES Corp. (The)
31,540
462,061
Clearway Energy, Inc., Class A
1,469
49,608
Clearway Energy, Inc., Class C
3,670
132,671
Hallador Energy Co.(a)
1,452
26,847
Ormat Technologies, Inc.
2,536
316,848
 
988,035
Industrial REITs — 0.8%
Americold Realty Trust, Inc.
11,144
138,297
EastGroup Properties, Inc.
2,327
422,676
First Industrial Realty Trust, Inc.
5,391
312,840
Innovative Industrial Properties, Inc.
1,279
61,801
Lineage, Inc.
2,670
95,346
LXP Industrial Trust
2,667
132,150
Rexford Industrial Realty, Inc.
10,508
425,889
STAG Industrial, Inc.
8,333
312,571
Terreno Realty Corp.
4,465
274,776
 
2,176,346
Insurance — 3.8%
Accelerant Holdings, Class A(a)(b)
1,696
23,167
American Financial Group, Inc.
3,185
414,910
AMERISAFE, Inc.
883
33,210
Assurant, Inc.
2,263
538,888
Assured Guaranty Ltd.
2,132
180,900
Ategrity Specialty Holdings LLC(a)
314
5,592
Axis Capital Holdings Ltd.
3,396
350,399
Baldwin Insurance Group, Inc. (The), Class A(a)(b)
3,166
69,399
Bowhead Specialty Holdings, Inc.(a)
683
16,774
Brighthouse Financial, Inc.(a)
2,603
166,748
CNO Financial Group, Inc.
4,530
190,486
Employers Holdings, Inc.
1,007
43,925
Erie Indemnity Co., Class A, NVS
1,122
317,537
Everest Group Ltd.
1,892
626,782
F&G Annuities & Life, Inc.
1,684
49,661
First American Financial Corp.
4,389
277,297
Genworth Financial, Inc., Class A(a)
18,419
153,614
Globe Life, Inc.
3,476
487,405
Goosehead Insurance, Inc., Class A(a)
1,057
65,365
Hamilton Insurance Group Ltd., Class B(a)
1,806
50,117
Hanover Insurance Group, Inc. (The)
1,537
267,653
HCI Group, Inc.
458
72,671
Heritage Insurance Holdings, Inc.(a)
1,036
27,009
Hippo Holdings, Inc.(a)
827
24,645
Horace Mann Educators Corp.
1,738
77,880
Kemper Corp.
2,405
94,781
Kinsale Capital Group, Inc.(b)
983
389,150
Lemonade, Inc.(a)(b)
2,391
207,371
Lincoln National Corp.
7,614
316,819
Mercury General Corp.
1,118
97,926
Security
 
Shares
Value
Insurance (continued)
Neptune Insurance Holdings, Inc., Class A(a)
1,103
$  28,127
Old Republic International Corp.
10,241
401,140
Oscar Health, Inc., Class A(a)
8,584
123,180
Palomar Holdings, Inc.(a)
1,161
143,488
Primerica, Inc.
1,484
390,351
ProAssurance Corp.(a)
2,117
51,274
Reinsurance Group of America, Inc.
2,923
592,638
RenaissanceRe Holdings Ltd.
1,932
544,244
RLI Corp.
3,713
216,951
Root, Inc., Class A(a)
536
33,302
Ryan Specialty Holdings, Inc., Class A
4,650
224,502
Safety Insurance Group, Inc.
631
49,660
Selective Insurance Group, Inc.
2,685
225,755
SiriusPoint Ltd.(a)
3,476
70,945
Skyward Specialty Insurance Group, Inc.(a)
1,357
60,549
Slide Insurance Holdings, Inc.(a)(b)
1,360
23,433
Stewart Information Services Corp.
1,254
84,557
Trupanion, Inc.(a)
1,514
48,433
United Fire Group, Inc.
940
33,784
Universal Insurance Holdings, Inc.
1,158
35,261
Unum Group
7,156
543,641
White Mountains Insurance Group Ltd.(b)
107
218,808
 
9,782,104
Interactive Media & Services — 0.6%
Cargurus, Inc., Class A(a)
3,464
112,234
EverQuote, Inc., Class A(a)
1,170
26,559
fuboTV, Inc., Class A(a)(b)
14,624
32,612
Getty Images Holdings, Inc., Class A(a)
2,184
2,861
Grindr, Inc.(a)
1,463
16,561
IAC, Inc.(a)
3,006
111,072
Match Group, Inc.
10,875
338,756
QuinStreet, Inc.(a)
2,250
29,903
Rumble, Inc., Class A(a)(b)
4,732
26,925
Shutterstock, Inc.
1,004
19,929
Snap, Inc., Class A, NVS(a)
46,696
323,603
Taboola.com Ltd.(a)
5,925
23,700
TripAdvisor, Inc.(a)
4,911
65,267
Trump Media & Technology Group Corp., Class A(a)(b)
5,278
67,453
Webtoon Entertainment, Inc.(a)(b)
706
8,536
Yelp, Inc.(a)
2,780
76,116
Ziff Davis, Inc.(a)(b)
1,702
65,050
ZoomInfo Technologies, Inc., Class A(a)
11,145
89,717
 
1,436,854
IT Services — 0.9%
Akamai Technologies, Inc.(a)
6,198
602,136
Applied Digital Corp.(a)(b)
11,015
373,188
ASGN, Inc.(a)
1,894
98,658
BigBear.ai Holdings, Inc.(a)(b)
19,205
96,793
DigitalOcean Holdings, Inc.(a)
2,771
153,098
DXC Technology Co.(a)
7,157
103,276
EPAM Systems, Inc.(a)(b)
2,457
512,530
Fastly, Inc., Class A(a)
6,105
56,471
Grid Dynamics Holdings, Inc., Class A(a)
2,830
23,404
Kyndryl Holdings, Inc.(a)(b)
10,340
237,820
Whitefiber, Inc.(a)(b)
411
8,019
 
2,265,393
Leisure Products — 0.6%
Acushnet Holdings Corp.
1,250
121,175
Brunswick Corp.
2,775
222,611
Callaway Golf Co.(a)
5,666
81,307
Hasbro, Inc.
5,839
521,481
9

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Leisure Products (continued)
Latham Group, Inc.(a)
1,882
$  11,838
Mattel, Inc.(a)
14,374
300,273
Peloton Interactive, Inc., Class A(a)(b)
17,085
95,505
Polaris, Inc.
2,282
145,683
YETI Holdings, Inc.(a)
3,544
161,996
 
1,661,869
Life Sciences Tools & Services — 1.3%
10X Genomics, Inc., Class A(a)
4,524
91,385
Adaptive Biotechnologies Corp.(a)
4,569
84,527
Avantor, Inc.(a)(b)
30,090
328,583
Azenta, Inc.(a)
1,736
67,496
BioLife Solutions, Inc.(a)
1,681
36,646
Bio-Rad Laboratories, Inc., Class A(a)
863
253,463
Bio-Techne Corp.
7,019
449,848
Bruker Corp.
4,582
202,937
Charles River Laboratories International, Inc.(a)
2,013
423,696
Fortrea Holdings, Inc.(a)
3,805
63,962
Pacific Biosciences of California, Inc.(a)
10,108
22,844
Personalis, Inc.(a)
2,309
21,635
Repligen Corp.(a)
2,355
351,766
Revvity, Inc.
5,333
580,230
Sotera Health Co.(a)
6,819
123,560
Tempus AI, Inc., Class A(a)(b)
3,733
223,308
 
3,325,886
Machinery — 5.4%
Aebi Schmidt Holding AG
1,616
23,658
AGCO Corp.
2,632
298,495
Alamo Group, Inc.
458
89,452
Albany International Corp., Class A
1,313
72,858
Alliance Laundry Holdings, Inc.(a)
2,029
44,800
Allison Transmission Holdings, Inc.
3,785
411,430
Astec Industries, Inc.
948
46,187
Atmus Filtration Technologies, Inc.
713
41,333
Blue Bird Corp.(a)
1,390
69,931
CECO Environmental Corp.(a)(b)
1,318
88,873
Chart Industries, Inc.(a)
1,998
414,265
CNH Industrial NV
39,123
420,964
Crane Co.
2,194
400,712
Donaldson Co., Inc.
5,346
544,971
Douglas Dynamics, Inc.
957
36,060
Energy Recovery, Inc.(a)
2,425
35,381
Enerpac Tool Group Corp., Class A
2,432
98,156
Enpro, Inc.
882
210,604
Esab Corp.
2,524
305,656
ESCO Technologies, Inc.
1,069
243,914
Federal Signal Corp.
2,714
293,356
Flowserve Corp.
5,830
455,615
Franklin Electric Co., Inc.
1,757
175,032
Gates Industrial Corp. PLC(a)
10,822
249,122
Gorman-Rupp Co. (The)
924
50,349
Graham Corp.(a)
443
30,975
Greenbrier Cos., Inc. (The)
1,234
62,218
Helios Technologies, Inc.
1,415
91,664
Hillenbrand, Inc.
3,024
96,496
Hillman Solutions Corp.(a)
8,097
75,869
IDEX Corp.
3,185
632,382
ITT, Inc.
3,852
702,220
JBT Marel Corp.(b)
2,294
360,869
Kadant, Inc.
493
158,273
Kennametal, Inc.
3,426
117,820
Lincoln Electric Holdings, Inc.
2,487
659,925
Lindsay Corp.
486
60,881
Security
 
Shares
Value
Machinery (continued)
Microvast Holdings, Inc.(a)(b)
9,179
$  24,049
Middleby Corp. (The)(a)
2,238
329,366
Mueller Industries, Inc.
4,909
668,311
Mueller Water Products, Inc., Class A
6,955
188,272
Nordson Corp.
2,304
632,517
Oshkosh Corp.
2,668
383,712
Proto Labs, Inc.(a)
1,044
54,967
RBC Bearings, Inc.(a)
1,373
686,047
REV Group, Inc.
2,063
131,826
Richtech Robotics, Inc., Class B(a)(b)
6,638
23,764
SPX Technologies, Inc.(a)
2,191
456,626
Standex International Corp.
514
123,360
Stanley Black & Decker, Inc.
6,809
535,596
Symbotic, Inc., Class A(a)
2,230
121,245
Tennant Co.
816
62,089
Terex Corp.
2,764
157,548
Timken Co. (The)
2,838
264,473
Toro Co. (The)
4,434
405,711
Trinity Industries, Inc.
3,306
95,014
Watts Water Technologies, Inc., Class A
1,214
363,362
Worthington Enterprises, Inc.
1,318
73,241
 
13,951,862
Marine Transportation — 0.2%
Genco Shipping & Trading Ltd.
1,825
38,143
Kirby Corp.(a)
2,435
286,502
Matson, Inc.
1,318
211,275
 
535,920
Media — 0.9%
Cable One, Inc.
192
15,550
DoubleVerify Holdings, Inc.(a)
5,923
64,087
EchoStar Corp., Class A(a)
5,947
673,319
Ibotta, Inc., Class A(a)(b)
674
13,925
John Wiley & Sons, Inc., Class A
1,901
59,368
Liberty Broadband Corp., Class A(a)
810
38,896
Liberty Broadband Corp., Class C, NVS(a)
4,640
223,231
Magnite, Inc.(a)
5,817
84,172
MNTN, Inc., Class A(a)
486
4,471
New York Times Co. (The), Class A
6,917
507,085
Newsmax, Inc., Class B(a)
1,851
12,772
Nexstar Media Group, Inc., Class A
1,215
258,042
NIQ Global Intelligence PLC(a)(b)
2,463
41,846
Sirius XM Holdings, Inc.
8,439
171,734
Stagwell, Inc., Class A(a)
4,695
28,217
TEGNA, Inc.
6,712
128,602
 
2,325,317
Metals & Mining — 1.5%
Alcoa Corp.
11,603
659,166
Alpha Metallurgical Resources, Inc.(a)(b)
493
103,431
Century Aluminum Co.(a)
2,216
100,451
Cleveland-Cliffs, Inc.(a)
24,383
335,510
Coeur Mining, Inc.(a)(b)
27,908
570,440
Commercial Metals Co.
4,711
362,135
Compass Minerals International, Inc.(a)
1,484
37,070
Constellium SE, Class A(a)
5,714
128,394
Hecla Mining Co.
27,047
609,098
Ivanhoe Electric, Inc.(a)(b)
4,671
79,827
Kaiser Aluminum Corp.
680
83,382
Materion Corp.
877
121,272
McEwen, Inc.(a)(b)
2,108
50,908
MP Materials Corp., Class A(a)(b)
5,523
324,587
Ramaco Resources, Inc., Class A(a)
1,752
34,182
10

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Metals & Mining (continued)
Ramaco Resources, Inc., Class B
247
$  3,241
Ryerson Holding Corp.
1,202
33,920
United States Antimony Corp.(a)(b)
4,288
31,431
USA Rare Earth, Inc., Class A(a)(b)
4,404
98,738
Worthington Steel, Inc.
1,370
55,115
 
3,822,298
Mortgage Real Estate Investment Trusts (REITs) — 1.0%
AGNC Investment Corp.
46,108
525,631
Annaly Capital Management, Inc.
30,219
695,339
Apollo Commercial Real Estate Finance, Inc.
5,580
60,320
Arbor Realty Trust, Inc.
8,136
62,647
ARMOUR Residential REIT, Inc.
5,028
87,487
Blackstone Mortgage Trust, Inc., Class A
7,328
141,064
Chimera Investment Corp.
3,550
43,842
Dynex Capital, Inc.
6,185
85,848
Ellington Financial, Inc.
4,648
59,727
Franklin BSP Realty Trust, Inc.
3,559
36,515
Ladder Capital Corp., Class A
5,052
55,420
MFA Financial, Inc.
4,240
40,874
Orchid Island Capital, Inc.
6,824
53,227
PennyMac Mortgage Investment Trust
3,924
46,421
Rithm Capital Corp.
23,574
257,900
Starwood Property Trust, Inc.
15,278
273,935
Two Harbors Investment Corp.
4,459
51,145
 
2,577,342
Multi-Utilities — 0.2%
Avista Corp.
3,572
147,488
Black Hills Corp.
3,197
233,317
Northwestern Energy Group, Inc.
2,570
174,400
Unitil Corp.
706
35,943
 
591,148
Office REITs — 0.6%
BXP, Inc.
6,411
414,599
COPT Defense Properties
5,030
154,974
Cousins Properties, Inc.
6,961
175,696
Douglas Emmett, Inc.
6,798
71,787
Easterly Government Properties, Inc.
1,869
43,716
Empire State Realty Trust, Inc., Class A
6,071
40,251
Highwoods Properties, Inc.
4,603
118,987
JBG SMITH Properties
2,801
47,169
Kilroy Realty Corp.
4,791
165,194
Piedmont Realty Trust, Inc., Class A
5,484
46,175
SL Green Realty Corp.
3,172
142,042
Vornado Realty Trust
7,283
232,182
 
1,652,772
Oil, Gas & Consumable Fuels — 2.9%
Antero Midstream Corp.
13,965
262,821
Antero Resources Corp.(a)
11,768
428,002
APA Corp.
16,015
422,956
BKV Corp.(a)(b)
1,062
31,594
California Resources Corp.
2,852
152,582
Calumet, Inc.(a)
2,882
64,586
Centrus Energy Corp., Class A(a)(b)
716
199,248
Chord Energy Corp.
2,650
265,636
CNX Resources Corp.(a)
5,573
216,232
Comstock Resources, Inc.(a)
3,187
77,603
Core Natural Resources, Inc.
2,248
214,414
Crescent Energy Co., Class A
10,761
105,135
CVR Energy, Inc.(a)
1,348
30,654
Delek U.S. Holdings, Inc.
2,775
81,890
Dorian LPG Ltd.
1,603
47,337
Security
 
Shares
Value
Oil, Gas & Consumable Fuels (continued)
DT Midstream, Inc.
4,349
$  548,061
Excelerate Energy, Inc., Class A
1,024
38,246
Granite Ridge Resources, Inc.
3,134
15,733
Gulfport Energy Corp.(a)
693
141,490
HF Sinclair Corp.
6,797
353,376
HighPeak Energy, Inc.(b)
572
2,603
International Seaways, Inc.
1,689
100,749
Kinetik Holdings, Inc., Class A
1,001
40,951
Kosmos Energy Ltd.(a)(b)
19,166
30,282
Lightbridge Corp.(a)(b)
1,348
20,739
Magnolia Oil & Gas Corp., Class A
7,805
199,106
Matador Resources Co.
4,932
223,124
Murphy Oil Corp.
5,908
177,772
NextDecade Corp.(a)(b)
7,233
38,263
Northern Oil & Gas, Inc.
3,682
92,050
Ovintiv, Inc.
11,521
500,818
Par Pacific Holdings, Inc.(a)
2,134
80,537
PBF Energy, Inc., Class A
3,742
125,207
Peabody Energy Corp.
4,889
172,386
Permian Resources Corp., Class A
28,235
455,431
Range Resources Corp.
10,665
403,670
REX American Resources Corp.(a)
1,294
43,750
SM Energy Co.
9,313
181,328
Talos Energy, Inc.(a)
5,015
59,779
Uranium Energy Corp.(a)(b)
21,041
362,747
Venture Global, Inc., Class A(b)
4,401
43,130
Viper Energy, Inc., Class A
7,388
312,808
Vitesse Energy, Inc.
1,265
26,514
World Kinect Corp.
2,438
65,607
 
7,456,947
Paper & Forest Products — 0.1%
Louisiana-Pacific Corp.
2,822
236,314
Sylvamo Corp.
1,482
72,529
 
308,843
Passenger Airlines — 0.4%
Alaska Air Group, Inc.(a)
4,851
246,576
American Airlines Group, Inc.(a)
28,719
381,963
Frontier Group Holdings, Inc.(a)(b)
3,720
17,261
JetBlue Airways Corp.(a)
12,461
60,685
Joby Aviation, Inc., Class A(a)(b)
24,874
262,918
SkyWest, Inc.(a)
1,726
166,594
Wheels Up Experience, Inc., Class A(a)(b)
4,197
2,644
 
1,138,641
Personal Care Products — 0.2%
BellRing Brands, Inc.(a)
5,697
141,684
Coty, Inc., Class A(a)(b)
15,393
48,796
Edgewell Personal Care Co.
1,986
38,648
elf Beauty, Inc.(a)
2,235
189,953
Herbalife Ltd.(a)
4,467
77,011
Interparfums, Inc.
806
78,641
Olaplex Holdings, Inc.(a)
6,372
10,068
 
584,801
Pharmaceuticals — 1.8%
Amneal Pharmaceuticals, Inc., Class A(a)
5,524
75,568
Amphastar Pharmaceuticals, Inc.(a)
1,496
39,629
Amylyx Pharmaceuticals, Inc.(a)
3,447
49,258
ANI Pharmaceuticals, Inc.(a)
801
65,562
Aquestive Therapeutics, Inc.(a)(b)
4,539
13,390
Arvinas, Inc.(a)
2,588
34,627
AtaiBeckley, Inc.(a)(b)
13,421
50,463
Avadel Pharmaceuticals PLC(a)
3,966
85,467
11

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Pharmaceuticals (continued)
Axsome Therapeutics, Inc.(a)
1,734
$  319,489
Collegium Pharmaceutical, Inc.(a)
1,255
57,630
Corcept Therapeutics, Inc.(a)(b)
4,272
170,325
CorMedix, Inc.(a)(b)
3,077
23,878
Crinetics Pharmaceuticals, Inc.(a)
4,429
221,184
Edgewise Therapeutics, Inc.(a)(b)
3,518
99,032
Elanco Animal Health, Inc.(a)(b)
21,114
508,425
Enliven Therapeutics, Inc.(a)(b)
1,501
39,701
Esperion Therapeutics, Inc.(a)(b)
8,030
27,222
Harmony Biosciences Holdings, Inc.(a)
1,891
69,059
Harrow, Inc.(a)(b)
1,192
48,800
Indivior Pharmaceuticals, Inc.(a)
4,052
143,360
Innoviva, Inc.(a)
2,451
49,020
Jazz Pharmaceuticals PLC(a)
2,646
435,241
LENZ Therapeutics, Inc.(a)(b)
567
8,970
Ligand Pharmaceuticals, Inc.(a)
790
151,759
Liquidia Corp.(a)
2,878
121,998
Maze Therapeutics, Inc.(a)
853
37,174
Nektar Therapeutics(a)
722
26,952
Nuvation Bio, Inc., Class A(a)(b)
9,445
49,492
Ocular Therapeutix, Inc.(a)
7,675
70,150
Organon & Co.
11,125
95,008
Pacira BioSciences, Inc.(a)
1,966
40,382
Perrigo Co. PLC
5,816
82,645
Phibro Animal Health Corp., Class A
886
35,573
Prestige Consumer Healthcare, Inc.(a)
2,083
134,291
Septerna, Inc.(a)
807
18,835
Supernus Pharmaceuticals, Inc.(a)
2,199
105,904
Tarsus Pharmaceuticals, Inc.(a)
1,265
81,643
Terns Pharmaceuticals, Inc.(a)
3,269
113,107
Theravance Biopharma, Inc.(a)
1,696
32,122
Trevi Therapeutics, Inc.(a)
4,461
46,707
Viatris, Inc.
53,288
697,540
WaVe Life Sciences Ltd.(a)
5,722
74,043
Xeris Biopharma Holdings, Inc.(a)
6,584
48,458
 
4,699,083
Professional Services — 2.4%
Alight, Inc., Class A
18,427
28,193
Amentum Holdings, Inc.(a)
5,862
209,742
Barrett Business Services, Inc.
1,119
42,522
BlackSky Technology, Inc., Class A(a)
1,159
25,579
Booz Allen Hamilton Holding Corp., Class A
5,418
479,060
CACI International, Inc., Class A(a)
975
605,065
CBIZ, Inc.(a)
2,297
90,387
Clarivate PLC(a)(b)
15,004
39,761
Concentrix Corp.
1,844
68,873
CRA International, Inc.
269
50,825
CSG Systems International, Inc.
1,156
92,191
Dayforce, Inc.(a)
6,922
479,487
ExlService Holdings, Inc.(a)
7,154
280,079
Exponent, Inc.
2,243
161,204
First Advantage Corp.(a)(b)
3,487
47,075
FTI Consulting, Inc.(a)
1,426
249,079
Genpact Ltd.
6,651
293,309
Huron Consulting Group, Inc.(a)
761
128,609
ICF International, Inc.
782
72,921
Innodata, Inc.(a)(b)
1,331
73,791
Insperity, Inc.
1,512
64,608
KBR, Inc.
5,846
250,267
Korn Ferry
2,173
150,958
Legalzoom.com, Inc.(a)
5,104
45,375
ManpowerGroup, Inc.
1,939
70,444
Security
 
Shares
Value
Professional Services (continued)
Maximus, Inc.
2,483
$  234,495
Parsons Corp.(a)
2,382
166,883
Paycom Software, Inc.
2,244
302,379
Paylocity Holding Corp.(a)
1,957
264,156
Planet Labs PBC, Class A(a)(b)
9,689
241,934
Robert Half, Inc.
4,421
153,011
Science Applications International Corp.
2,084
212,068
TIC Solutions, Inc.(a)
6,391
64,549
TriNet Group, Inc.
1,142
69,936
UL Solutions, Inc., Class A
3,312
232,602
Upwork, Inc.(a)(b)
5,267
105,498
Verra Mobility Corp., Class A(a)
7,062
136,297
Willdan Group, Inc.(a)
596
75,215
 
6,358,427
Real Estate Management & Development — 0.7%
Compass, Inc., Class A(a)
26,559
332,519
Cushman & Wakefield Ltd.(a)
7,919
130,188
eXp World Holdings, Inc.
3,744
33,846
Forestar Group, Inc.(a)
731
19,021
Howard Hughes Holdings, Inc.(a)(b)
1,399
114,242
Jones Lang LaSalle, Inc.(a)
2,101
751,969
Kennedy-Wilson Holdings, Inc.
4,589
45,202
Marcus & Millichap, Inc.
1,041
28,315
Newmark Group, Inc., Class A
6,473
115,413
Opendoor Technologies, Inc., Class A(a)(b)
27,045
139,282
St. Joe Co. (The)
1,785
118,149
 
1,828,146
Residential REITs — 0.9%
American Homes 4 Rent, Class A
13,655
427,675
Apartment Investment & Management Co., Class A
5,935
34,898
Camden Property Trust
4,830
526,711
Centerspace
705
45,310
Equity LifeStyle Properties, Inc.
8,485
535,997
Independence Realty Trust, Inc.
9,874
164,896
NexPoint Residential Trust, Inc.
936
28,286
UDR, Inc.
13,317
494,727
UMH Properties, Inc.
3,359
52,501
Veris Residential, Inc.
3,611
54,851
 
2,365,852
Retail REITs — 1.3%
Acadia Realty Trust
5,825
116,558
Agree Realty Corp.
4,814
347,715
Alexanders, Inc.
97
23,755
Brixmor Property Group, Inc.
13,616
364,773
CBL & Associates Properties, Inc.
590
21,122
Curbline Properties Corp.
4,610
111,793
Federal Realty Investment Trust
3,820
386,431
Getty Realty Corp.
2,318
69,216
InvenTrust Properties Corp.
3,310
97,281
Kite Realty Group Trust
9,731
228,581
Macerich Co. (The)
11,327
214,420
NETSTREIT Corp.
3,493
65,808
NNN REIT, Inc.
8,383
349,320
Phillips Edison & Co., Inc.
5,353
193,939
Regency Centers Corp.
7,285
530,858
Saul Centers, Inc.
540
17,134
Tanger, Inc.
5,020
164,254
Urban Edge Properties
5,495
106,768
 
3,409,726
Semiconductors & Semiconductor Equipment — 2.9%
ACM Research, Inc., Class A(a)
2,205
128,155
12

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Semiconductors & Semiconductor Equipment (continued)
Aehr Test Systems(a)(b)
1,225
$  31,409
Allegro MicroSystems, Inc.(a)
5,485
202,451
Alpha & Omega Semiconductor Ltd.(a)
1,061
23,448
Ambarella, Inc.(a)
1,818
116,425
Amkor Technology, Inc.
5,038
243,487
Axcelis Technologies, Inc.(a)(b)
1,390
122,417
Cirrus Logic, Inc.(a)
2,369
308,776
Cohu, Inc.(a)
1,950
55,653
Diodes, Inc.(a)
1,931
114,296
Enphase Energy, Inc.(a)
5,830
215,593
FormFactor, Inc.(a)
3,453
243,402
Ichor Holdings Ltd.(a)
1,441
43,720
Impinj, Inc.(a)
1,181
163,096
Kulicke & Soffa Industries, Inc.
2,086
119,590
Lattice Semiconductor Corp.(a)
6,134
493,910
MACOM Technology Solutions Holdings, Inc.(a)
2,808
615,121
MaxLinear, Inc.(a)
3,542
61,454
MKS, Inc.
2,340
550,859
Navitas Semiconductor Corp.(a)(b)
8,467
72,647
Onto Innovation, Inc.(a)
2,182
440,873
PDF Solutions, Inc.(a)
1,398
44,526
Penguin Solutions, Inc.(a)
2,307
44,318
Photronics, Inc.(a)
2,588
89,467
Power Integrations, Inc.
2,420
111,175
Qorvo, Inc.(a)
3,786
295,724
Rambus, Inc.(a)
4,781
544,221
Rigetti Computing, Inc.(a)(b)
12,877
233,975
Semtech Corp.(a)
3,859
307,755
Silicon Laboratories, Inc.(a)
1,436
204,558
SiTime Corp.(a)
949
344,591
SkyWater Technology, Inc.(a)
1,105
34,984
Skyworks Solutions, Inc.
6,606
368,351
SolarEdge Technologies, Inc.(a)
2,497
77,282
Synaptics, Inc.(a)
1,747
144,145
Ultra Clean Holdings, Inc.(a)
1,889
82,512
Universal Display Corp.
2,091
240,089
Veeco Instruments, Inc.(a)
2,380
74,327
 
7,608,782
Software — 4.4%
A10 Networks, Inc.
3,110
54,238
ACI Worldwide, Inc.(a)
4,668
202,404
Adeia, Inc.
4,799
86,814
Agilysys, Inc.(a)
1,138
98,722
Alarm.com Holdings, Inc.(a)
2,162
105,462
Alkami Technology, Inc.(a)(b)
2,851
60,413
Amplitude, Inc., Class A(a)
3,538
32,443
Appfolio, Inc., Class A(a)
1,016
192,918
Appian Corp., Class A(a)
1,368
38,167
Asana, Inc., Class A(a)(b)
3,947
40,457
Aurora Innovation, Inc., Class A(a)(b)
52,101
218,824
AvePoint, Inc., Class A(a)
5,944
69,129
BILL Holdings, Inc.(a)
3,706
159,988
Bit Digital, Inc.(a)(b)
13,698
27,807
BitMine Immersion Technologies, Inc.
12,600
316,260
Blackbaud, Inc.(a)
1,704
91,505
BlackLine, Inc.(a)
2,253
104,697
Blend Labs, Inc., Class A(a)
8,656
20,601
Box, Inc., Class A(a)
6,355
161,099
Braze, Inc., Class A(a)
3,699
77,013
C3.ai, Inc., Class A(a)(b)
5,186
57,098
CCC Intelligent Solutions Holdings, Inc.(a)(b)
22,611
171,391
Cipher Mining, Inc.(a)(b)
14,209
226,776
Security
 
Shares
Value
Software (continued)
Cleanspark, Inc.(a)(b)
12,133
$  143,655
Clear Secure, Inc., Class A
3,721
121,379
Clearwater Analytics Holdings, Inc., Class A(a)
11,947
287,803
Commvault Systems, Inc.(a)
1,936
165,915
Confluent, Inc., Class A(a)
12,550
383,277
Core Scientific, Inc.(a)(b)
12,903
232,125
Digital Turbine, Inc.(a)(b)
4,350
22,707
Dolby Laboratories, Inc., Class A
2,704
173,570
Dropbox, Inc., Class A(a)(b)
7,416
188,960
D-Wave Quantum, Inc.(a)(b)
14,652
310,915
Elastic NV(a)
3,918
258,314
Five9, Inc.(a)
3,064
54,110
Freshworks, Inc., Class A(a)
8,604
92,751
Gitlab, Inc., Class A(a)
5,814
203,374
Hut 8 Corp.(a)
4,143
231,304
I3 Verticals, Inc., Class A(a)(b)
955
21,211
Intapp, Inc.(a)
2,476
84,060
InterDigital, Inc.
1,064
347,332
Jamf Holding Corp.(a)
2,276
29,702
JFrog Ltd.(a)(b)
4,321
236,791
Klaviyo, Inc., Class A(a)
5,821
129,284
Life360, Inc.(a)(b)
3,261
186,823
LiveRamp Holdings, Inc.(a)
2,844
69,251
Manhattan Associates, Inc.(a)
2,688
405,915
MARA Holdings, Inc.(a)(b)
16,199
153,891
N-able, Inc.(a)
3,282
19,922
nCino, Inc.(a)(b)
4,464
95,306
NCR Voyix Corp.(a)
6,501
64,490
Netskope, Inc., Class A(a)(b)
2,406
35,729
NextNav, Inc.(a)(b)
2,813
40,395
Onestream, Inc., Class A(a)
3,611
85,256
Pagaya Technologies Ltd., Class A(a)(b)
1,814
35,173
PagerDuty, Inc.(a)
3,839
40,693
PAR Technology Corp.(a)(b)
1,842
48,279
Pegasystems, Inc.
4,054
177,119
Porch Group, Inc.(a)(b)
3,563
28,112
Procore Technologies, Inc.(a)
5,260
297,137
Progress Software Corp.(a)
1,865
76,316
Q2 Holdings, Inc.(a)
2,665
163,231
Qualys, Inc.(a)
1,550
204,445
Rapid7, Inc.(a)
2,655
31,648
Red Violet, Inc.(a)
502
22,831
RingCentral, Inc., Class A(a)(b)
3,160
81,781
Riot Platforms, Inc.(a)(b)
15,285
236,459
Rubrik, Inc., Class A(a)
6,015
336,539
SailPoint, Inc.(a)(b)
2,670
41,892
Samsara, Inc., Class A(a)
13,564
380,470
SEMrush Holdings, Inc., Class A(a)(b)
1,990
23,661
SentinelOne, Inc., Class A(a)
13,868
193,875
ServiceTitan, Inc., Class A(a)
496
38,857
SoundHound AI, Inc., Class A(a)(b)
16,059
135,859
Sprinklr, Inc., Class A(a)
5,134
32,755
SPS Commerce, Inc.(a)
1,682
150,135
Tenable Holdings, Inc.(a)
5,352
118,065
Teradata Corp.(a)
3,876
110,544
Terawulf, Inc.(a)(b)
13,350
178,489
UiPath, Inc., Class A(a)
19,106
240,545
Varonis Systems, Inc.(a)
5,192
154,929
Vertex, Inc., Class A(a)(b)
2,996
55,576
Via Transportation, Inc., Class A(a)
715
16,624
Workiva, Inc., Class A(a)
2,301
177,223
13

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Software (continued)
Yext, Inc.(a)
4,832
$  34,597
Zeta Global Holdings Corp., Class A(a)
8,367
155,459
 
11,509,061
Specialized REITs — 1.0%
CubeSmart
10,144
380,704
EPR Properties
3,367
182,626
Four Corners Property Trust, Inc.
4,707
116,028
Gaming & Leisure Properties, Inc.
11,705
523,799
Lamar Advertising Co., Class A
3,869
496,431
Millrose Properties, Inc., Class A
5,384
160,443
National Storage Affiliates Trust
3,172
100,901
Outfront Media, Inc.
6,317
153,630
PotlatchDeltic Corp.
3,204
133,703
Rayonier, Inc.
6,357
144,558
Safehold, Inc.
2,040
28,784
Smartstop Self Storage REIT, Inc.
1,356
42,633
 
2,464,240
Specialty Retail — 2.7%
Abercrombie & Fitch Co., Class A(a)
2,082
203,266
Academy Sports & Outdoors, Inc.
2,921
160,684
Advance Auto Parts, Inc.
2,545
122,185
American Eagle Outfitters, Inc.
7,038
164,056
Asbury Automotive Group, Inc.(a)
805
188,780
AutoNation, Inc.(a)
1,155
236,752
Bath & Body Works, Inc.
9,096
198,293
Boot Barn Holdings, Inc.(a)
1,267
226,134
Buckle, Inc. (The)
1,402
66,315
Build-A-Bear Workshop, Inc.(b)
547
32,645
Camping World Holdings, Inc., Class A
2,499
32,962
CarMax, Inc.(a)
6,789
302,382
Chewy, Inc., Class A(a)
9,789
284,958
Dicks Sporting Goods, Inc.
2,897
585,194
Five Below, Inc.(a)
2,402
460,319
Floor & Decor Holdings, Inc., Class A(a)(b)
4,637
305,856
GameStop Corp., Class A(a)(b)
18,083
431,822
Gap, Inc. (The)
10,546
295,077
Group 1 Automotive, Inc.
562
199,094
Lithia Motors, Inc., Class A(b)
1,016
328,615
Murphy U.S.A., Inc.
807
340,966
National Vision Holdings, Inc.(a)
3,257
85,822
Penske Automotive Group, Inc.
888
139,229
Petco Health & Wellness Co., Inc.(a)(b)
3,394
9,130
RealReal, Inc. (The)(a)
3,865
56,700
Revolve Group, Inc., Class A(a)
1,778
49,162
RH(a)
679
135,006
Sally Beauty Holdings, Inc.(a)
4,186
63,711
Signet Jewelers Ltd.
1,655
152,707
Sonic Automotive, Inc., Class A
621
37,235
ThredUp, Inc., Class A(a)
3,945
20,041
Upbound Group, Inc.
2,375
44,887
Urban Outfitters, Inc.(a)(b)
2,603
184,423
Valvoline, Inc.(a)(b)
5,646
184,737
Victorias Secret & Co.(a)
3,075
167,618
Warby Parker, Inc., Class A(a)(b)
3,965
101,147
Wayfair, Inc., Class A(a)(b)
4,408
456,184
Winmark Corp.
134
60,392
 
7,114,486
Technology Hardware, Storage & Peripherals — 0.1%
Corsair Gaming, Inc.(a)
2,405
12,266
Diebold Nixdorf, Inc.(a)
1,537
106,068
Security
 
Shares
Value
Technology Hardware, Storage & Peripherals (continued)
GPGI, Inc., Class A(a)
3,195
$  75,306
Quantum Computing, Inc.(a)(b)
5,647
52,348
 
245,988
Textiles, Apparel & Luxury Goods — 1.1%
Capri Holdings Ltd.(a)
5,276
119,079
Carters, Inc.
1,495
51,742
Columbia Sportswear Co.
1,180
65,230
Crocs, Inc.(a)
2,221
186,386
Deckers Outdoor Corp.(a)
6,731
803,278
Figs, Inc., Class A(a)
3,580
38,700
G-III Apparel Group Ltd.
1,556
45,669
Kontoor Brands, Inc.
2,451
146,398
Levi Strauss & Co., Class A
3,897
77,472
PVH Corp.
2,118
132,079
Ralph Lauren Corp., Class A
1,715
606,098
Steven Madden Ltd.
2,880
126,374
Under Armour, Inc., Class A(a)
8,109
50,033
Under Armour, Inc., Class C, NVS(a)
6,129
37,203
VF Corp.
14,559
285,211
Wolverine World Wide, Inc.
3,546
62,835
 
2,833,787
Tobacco — 0.1%
Turning Point Brands, Inc.
690
83,593
Universal Corp.
989
55,968
 
139,561
Trading Companies & Distributors — 1.6%
Air Lease Corp., Class A
4,180
270,153
Applied Industrial Technologies, Inc.
1,720
447,905
Boise Cascade Co.
1,697
137,135
Core & Main, Inc., Class A(a)
7,467
398,439
Custom Truck One Source, Inc.(a)
2,464
15,573
Distribution Solutions Group, Inc.(a)(b)
495
14,053
DNOW, Inc.(a)
7,811
118,649
DXP Enterprises, Inc.(a)
570
74,129
GATX Corp.
1,555
282,870
Global Industrial Co.
349
10,665
Herc Holdings, Inc.
1,371
196,519
McGrath RentCorp
1,094
122,189
MSC Industrial Direct Co., Inc., Class A
1,778
149,957
NPK International, Inc.(a)
3,493
48,238
QXO, Inc.(a)(b)
26,110
579,120
Rush Enterprises, Inc., Class A
2,784
178,705
Rush Enterprises, Inc., Class B
353
20,831
SiteOne Landscape Supply, Inc.(a)
1,969
282,630
WESCO International, Inc.
2,124
614,749
Willis Lease Finance Corp.(b)
140
25,519
Xometry, Inc., Class A(a)
1,784
101,920
 
4,089,948
Water Utilities — 0.3%
American States Water Co.
1,718
125,345
California Water Service Group
2,653
118,589
Essential Utilities, Inc.
11,120
431,345
H2O America
1,361
70,827
Middlesex Water Co.
797
41,747
 
787,853
Wireless Telecommunication Services — 0.1%
Array Digital Infrastructure, Inc.
506
24,384
14

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Wireless Telecommunication Services (continued)
Gogo, Inc.(a)
2,864
$  13,146
Telephone & Data Systems, Inc.
4,054
182,957
 
220,487
Total Common Stocks — 99.8%
(Cost: $216,437,343)
259,636,719
Rights
Biotechnology — 0.0%
Akero Therapeutics, Inc., CVR(a)(c)
2,899
1,884
Inhibrx, Inc., CVR(a)(c)
1,489
2,442
 
4,326
Total Rights — 0.0%
(Cost: $ —)
4,326
Total Long-Term Investments — 99.8%
(Cost: $216,437,343)
259,641,045
Short-Term Securities
Money Market Funds — 9.9%
BlackRock Cash Funds: Institutional, SL Agency
Shares, 3.82%(d)(e)(f)
24,883,057
24,895,499
BlackRock Cash Funds: Treasury, SL Agency Shares,
3.64%(d)(e)
959,916
959,916
Total Short-Term Securities — 9.9%
(Cost: $25,841,793)
25,855,415
Total Investments — 109.7%
(Cost: $242,279,136)
285,496,460
Liabilities in Excess of Other Assets — (9.7)%
(25,212,287
)
Net Assets — 100.0%
$  260,284,173
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan.
(c)
Security is valued using significant unobservable inputs and is classified as Level 3 in the
fair value hierarchy.
(d)
Affiliate of the Fund.
(e)
Annualized 7-day yield as of period end.
(f)
All or a portion of this security was purchased with the cash collateral from loaned
securities.
15

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer
Value at
04/30/25
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain
(Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
01/31/26
Shares
Held at
01/31/26
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock Cash Funds: Institutional,
SL Agency Shares
$  23,095,740
$  1,797,487
(a)
$  
$  473
$  1,799
$  24,895,499
24,883,057
$  146,134
(b)
$  
BlackRock Cash Funds: Treasury, SL
Agency Shares
959,916
(a)
959,916
959,916
21,488
 
$  473
$  1,799
$  25,855,415
$  167,622
$  
(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.
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
 
 
Russell 2000 E-Mini Index
2
03/20/26
$  262
$  (6,649
)
S&P Mid 400 E-Mini Index
1
03/20/26
345
(1,665
)
 
 
 
$  (8,314
)
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. 
16

Schedule of Investments (unaudited) (continued)
January 31, 2026
iShares® Morningstar Small-Cap ETF
Fair Value Hierarchy as of Period End (continued)
The following table summarizes the Funds financial instruments categorized in the fair value hierarchy. The breakdown of the Funds 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
$  259,636,719
$  
$  
$  259,636,719
Rights
4,326
4,326
Short-Term Securities
Money Market Funds
25,855,415
25,855,415
 
$  285,492,134
$  
$  4,326
$  285,496,460
Derivative Financial Instruments(a)
Liabilities
Equity Contracts
$  (8,314
)
$  
$  
$  (8,314
)
(a)
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.
Portfolio Abbreviation
CVR
Contingent Value Rights
NVS
Non-Voting Shares
REIT
Real Estate Investment Trust
17