Schedule of Investments (unaudited) 
April 30, 2026
iShares® Large Cap 10% Target Buffer Jun ETF
(Percentages shown are based on Net Assets)
 
Security
 
 
Shares
Value
Investment Companies
Equity Funds — 99.0%
iShares Core S&P 500 ETF(a)(b)
16,000
$  11,553,120
Total Long-Term Investments — 99.0%
(Cost: $10,797,269)
11,553,120
Short-Term Securities
Money Market Funds — 1.0%
BlackRock Cash Funds: Treasury, SL Agency Shares,
3.61%(a)(c)
120,782
120,782
Total Short-Term Securities — 1.0%
(Cost: $120,782)
120,782
Options Purchased — 0.8%
(Cost: $505,521)
94,697
Total Investments Before Options Written — 100.8%
(Cost: $11,423,572)
11,768,599
Options Written — (0.9)%
(Premiums Received: $(413,237))
(110,797
)
Total Investments Net of Options Written — 99.9%
(Cost: $11,010,335)
11,657,802
Other Assets Less Liabilities — 0.1%
7,490
Net Assets — 100.0%
$  11,665,292
 
(a)
Affiliate of the Fund.
(b)
All or a portion of the security has been pledged and/or segregated as collateral in
connection with outstanding exchange-traded options written.
(c)
Annualized 7-day yield as of period end.
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
10/21/25(a)
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain
(Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
04/30/26
Shares
Held at
04/30/26
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock Cash Funds: Treasury, SL Agency
Shares
$  —
 
$  120,782
(b)
$  —
$  —
$  —
$  120,782
120,782
$  1,836
$  —
iShares Core S&P 500 ETF
—
 
10,827,816
(31,090
)
543
755,851
11,553,120
16,000
67,204
—
 
$  543
$  755,851
$  11,673,902
$  69,040
$  —
 
(a)
The Fund commenced operations on October 21, 2025.
(b)
Represents net amount purchased (sold).
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
 
 
Micro E-Mini S&P 500 Index
4
06/18/26
$  145
$  11,139
1
Schedule of Investments (unaudited) (continued)
April 30, 2026
iShares® Large Cap 10% Target Buffer Jun ETF
Exchange-Traded Options Purchased 
Description
Number of
Contracts
Expiration
Date
Exercise
Price
Notional
Amount
(000)
Value
Put
 
 
iShares Core S&P 500 ETF
162
07/01/26
USD
674.43
USD
11,698
$94,697
Exchange-Traded Options Written 
Description
Number of
Contracts
Expiration
Date
Exercise
Price
Notional
Amount
(000)
Value
Call
 
 
iShares Core S&P 500 ETF
162
07/01/26
USD
753.68
USD
11,698
$(80,665
)
Put
 
 
iShares Core S&P 500 ETF
162
07/01/26
USD
606.99
USD
11,698
(30,132
)
 
 
 
$(110,797
)
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. 
 
Level 1
Level 2
Level 3
Total
Assets
Investments
Long-Term Investments
Investment Companies 
$  11,553,120
$  —
$  —
$  11,553,120
Short-Term Securities
Money Market Funds
120,782
—
—
120,782
Options Purchased
Equity Contracts
94,697
—
—
94,697
 
$  11,768,599
$  —
$  —
$  11,768,599
Derivative Financial Instruments(a)
Assets
Equity Contracts
$  11,139
$  —
$  —
$  11,139
Liabilities
Equity Contracts
(110,797
)
—
—
(110,797
)
 
$  (99,658
)
$  —
$  —
$  (99,658
)
 
(a)
Derivative financial instruments are futures contracts and options written. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument and options
written are shown at value.
2
Schedule of Investments (unaudited) (continued)
April 30, 2026
iShares® Large Cap 10% Target Buffer Jun ETF
 
Currency Abbreviation 
USD
United States Dollar
 
Portfolio Abbreviation 
ETF
Exchange-Traded Fund
3