iShares
®
Breakthrough
Environmental
Solutions
ETF
Schedule
of
Investments
(unaudited)
April
30,
2026
(Percentages
shown
are
based
on
Net
Assets)
1
Schedule
of
Investments
Security
Shares
Value
a
Common
Stocks
Automobile
Components
 — 
7
.4
%
BorgWarner,
Inc.
.........................
4,676
$
266,392
CALB
Group
Co.
Ltd.
,
Class
H
(a)
(b)
..............
16,600
75,607
341,999
a
Automobiles
 — 
13
.8
%
AIMA
Technology
Group
Co.
Ltd.
,
Class
A
........
2,100
7,221
BAIC
BluePark
New
Energy
Technology
Co.
Ltd.
,
Class
A
(b)
.................................
11,000
11,502
BYD
Co.
Ltd.
,
Class
A
......................
4,600
69,808
Li
Auto,
Inc.
,
Class
A
(b)
.....................
8,800
77,442
Lucid
Group,
Inc.
(b)
(c)
.......................
2,107
13,422
NIO,
Inc.
,
Class
A
(b)
.......................
15,750
101,627
Rivian
Automotive,
Inc.
,
Class
A
(b)
..............
4,851
79,556
Seres
Group
Co.
Ltd.
,
Class
A
................
1,900
24,801
Tesla,
Inc.
(b)
.............................
276
105,330
XPeng,
Inc.
,
Class
A
(b)
.....................
8,600
68,736
Yadea
Group
Holdings
Ltd.
(a)
.................
18,000
27,646
Zhejiang
Leapmotor
Technology
Co.
Ltd.
,
Class
H
(a)
(b)
8,600
52,493
639,584
a
Chemicals
 — 
3
.2
%
Kemira
OYJ
............................
7,241
150,152
a
Electrical
Equipment
 — 
26
.6
%
Advanced
Energy
Solution
Holding
Co.
Ltd.
.......
1,000
35,834
Contemporary
Amperex
Technology
Co.
Ltd.
,
Class
H
(c)
3,500
276,626
Doosan
Fuel
Cell
Co.
Ltd.
(b)
..................
1,697
71,014
GE
Vernova,
Inc.
.........................
147
159,269
Goldwind
Science
&
Technology
Co.
Ltd.
,
Class
A
...
6,100
24,753
Gotion
High-tech
Co.
Ltd.
,
Class
A
.............
5,900
31,899
Ming
Yang
Smart
Energy
Group
Ltd.
,
Class
A
......
5,600
13,058
Nextpower,
Inc.
,
Class
A
(b)
(c)
..................
1,583
188,583
Ningbo
Deye
Technology
Co.
Ltd.
,
Class
A
........
3,740
82,823
Nordex
SE
(b)
(c)
...........................
2,366
134,915
REPT
BATTERO
Energy
Co.
Ltd.
,
Class
H
(b)
......
30,600
69,340
Vestas
Wind
Systems
A.S.
..................
4,707
144,737
1,232,851
a
Electronic
Equipment,
Instruments
&
Components
 — 
0
.6
%
Everdisplay
Optronics
Shanghai
Co.
Ltd.
,
Class
A
(b)
..
79,800
26,495
a
Leisure
Products
 — 
0
.7
%
Merida
Industry
Co.
Ltd.
....................
19,000
34,981
a
Machinery
 — 
19
.3
%
Kenmec
Mechanical
Engineering
Co.
Ltd.
(b)
.......
9,000
16,052
Kurita
Water
Industries
Ltd.
..................
5,200
281,046
NGK
Corp.
.............................
4,500
142,472
Security
Shares
Value
a
Machinery
(continued)
Xylem,
Inc.
.............................
913
$
107,880
Yaskawa
Electric
Corp.
.....................
8,200
290,772
Yutong
Bus
Co.
Ltd.
,
Class
A
.................
11,600
60,129
898,351
a
Semiconductors
&
Semiconductor
Equipment
 — 
27
.8
%
Allegro
MicroSystems,
Inc.
(b)
.................
7,572
367,242
Duk
San
Neolux
Co.
Ltd.
(b)
...................
1,151
39,555
Enphase
Energy,
Inc.
(b)
.....................
3,626
119,513
First
Solar,
Inc.
(b)
.........................
872
176,048
Hangzhou
First
Applied
Material
Co.
Ltd.
,
Class
A
...
15,068
41,502
JA
Solar
Technology
Co.
Ltd.
,
Class
A
(b)
..........
8,580
13,710
Jinko
Solar
Co.
Ltd.
,
Class
A
(b)
................
24,124
23,599
LONGi
Green
Energy
Technology
Co.
Ltd.
,
Class
A
(b)
.
35,200
85,217
Sanken
Electric
Co.
Ltd.
(b)
...................
1,500
90,395
Shanghai
Aiko
Solar
Energy
Co.
Ltd.
,
Class
A
(b)
....
6,000
13,608
TCL
Zhonghuan
Renewable
Energy
Technology
Co.
Ltd.
,
Class
A
(b)
.........................
23,800
30,290
Trina
Solar
Co.
Ltd.
,
Class
A
(b)
................
6,400
16,329
Universal
Display
Corp.
....................
2,524
219,815
Xinyi
Solar
Holdings
Ltd.
....................
150,000
55,219
1,292,042
a
Total
Long-Term
Investments — 99.4%
(Cost:
$
3,660,837
)
..................................
4,616,455
a
Short-Term
Securities
Money
Market
Funds
 — 
12
.6
%
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
3.83
%
(d)
(e)
(f)
......................
580,306
580,480
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
,
3.61
%
(d)
(e)
............................
3,921
3,921
a
Total
Short-Term
Securities — 12.6%
(Cost:
$
584,386
)
...................................
584,401
Total
Investments
—
112.0%
(Cost:
$
4,245,223
)
..................................
5,200,856
Liabilities
in
Excess
of
Other
Assets
—
(
12
.0
)
%
..............
(
558,337
)
Net
Assets
—
100.0%
.................................
$
4,642,519
(a)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration
to
qualified
institutional
investors.
(b)
Non-income
producing
security.
(c)
All
or
a
portion
of
this
security
is
on
loan.
(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.
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
iShares
®
Breakthrough
Environmental
Solutions
ETF
2
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
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
07/31/25
Purchases
at
Cost
Proceeds
from
Sale
s
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:
Institutional,
SL
Agency
Shares
$
446,740
‌
$
133,828
(a)
$
—
‌
$
(
98
)
$
10
‌
$
580,480
‌
580,306
‌
$
6,134
(b)
$
—
‌
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
..
—
‌
3,921
(a)
—
‌
—
‌
—
‌
3,921
‌
3,921
‌
49
‌
—
‌
$
—
‌
$
(
98
)
$
10
‌
$
584,401
‌
$
6,183
‌
$
—
‌
(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
Micro
Euro
STOXX
50
Index
..............................................................
3
06/19/26
$
21
$
1,133
iShares
®
Breakthrough
Environmental
Solutions
ETF
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
3
Schedule
of
Investments
Level
1
Level
2
Level
3
Total
Assets
Investments
Long-Term
Investments
Common
Stocks
.........................................
$
1,890,825
‌
$
2,725,630
‌
$
—
‌
$
4,616,455
‌
Short-Term
Securities
Money
Market
Funds
......................................
584,401
‌
—
‌
—
‌
584,401
‌
$
2,475,226
‌
$
2,725,630
‌
$
—
‌
$
5,200,856
‌
Derivative
Financial
Instruments
(a)
Assets
Equity
Contracts
...........................................
$
1,133
‌
$
—
‌
$
—
‌
$
1,133
‌
(a)
Derivative
financial
instruments
are
futures
contracts.
Futures
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.
Fair
Value
Hierarchy
as
of
Period
End
(continued)