iShares
®
MSCI
Intl
Quality
Factor
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
Australia
 — 
5
.0
%
Aristocrat
Leisure
Ltd.
......................
631,000
$
21,709,853
ASX
Ltd.
..............................
348,997
15,276,635
BHP
Group
Ltd.
..........................
4,564,689
180,667,393
Brambles
Ltd.
...........................
2,047,742
33,362,780
Cochlear
Ltd.
...........................
43,626
2,968,367
Computershare
Ltd.
.......................
910,896
20,011,649
Evolution
Mining
Ltd.
......................
1,567,229
13,856,098
Fortescue
Ltd.
...........................
1,487,535
21,439,946
Insurance
Australia
Group
Ltd.
................
3,469,177
18,865,728
Medibank
Pvt
Ltd.
........................
5,823,712
19,802,546
Pro
Medicus
Ltd.
.........................
70,102
6,880,343
QBE
Insurance
Group
Ltd.
..................
2,731,743
44,248,405
REA
Group
Ltd.
..........................
133,397
16,515,198
Rio
Tinto
Ltd.
...........................
315,853
38,688,693
Stockland
..............................
3,131,985
9,185,167
Suncorp
Group
Ltd.
.......................
1,751,754
21,799,486
Telstra
Group
Ltd.
........................
4,518,545
17,353,573
Wesfarmers
Ltd.
.........................
1,591,183
84,527,376
Woodside
Energy
Group
Ltd.
.................
2,577,093
61,612,213
648,771,449
a
Austria
 — 
0
.2
%
OMV
AG
..............................
201,197
14,202,514
Verbund
AG
............................
94,545
7,133,726
21,336,240
a
Belgium
 — 
0
.2
%
Ageas
SA/N.V.
..........................
250,165
19,604,088
Lotus
Bakeries
N.V.
.......................
401
4,827,401
24,431,489
a
Canada
 — 
8
.3
%
Agnico
Eagle
Mines
Ltd.
....................
387,735
72,911,364
Alimentation
Couche-Tard,
Inc.
................
390,797
23,119,555
ARC
Resources
Ltd.
.......................
995,424
23,611,412
Barrick
Mining
Corp.
.......................
1,197,702
47,058,089
Brookfield
Asset
Management
Ltd.
,
Class
A
.......
1,099,284
52,813,541
Canadian
National
Railway
Co.
...............
612,563
68,803,134
CCL
Industries,
Inc.
,
Class
B
,
NVS
.............
112,494
7,104,012
Celestica,
Inc.
(a)
..........................
137,574
56,481,958
CGI,
Inc.
..............................
150,401
9,844,409
FirstService
Corp.
........................
50,938
6,825,358
Franco-Nevada
Corp.
......................
145,208
33,500,411
Great-West
Lifeco,
Inc.
.....................
477,278
25,502,144
iA
Financial
Corp.,
Inc.
.....................
161,288
20,757,808
IGM
Financial,
Inc.
........................
123,860
6,905,376
Imperial
Oil
Ltd.
..........................
378,399
50,689,058
Intact
Financial
Corp.
......................
293,154
56,487,745
Keyera
Corp.
...........................
303,218
11,714,860
Kinross
Gold
Corp.
........................
1,063,154
32,207,301
Lundin
Gold,
Inc.
.........................
91,906
6,176,684
Manulife
Financial
Corp.
....................
2,551,593
100,328,032
Power
Corp.
of
Canada
....................
752,589
41,985,640
Sun
Life
Financial,
Inc.
.....................
819,051
59,013,157
Suncor
Energy,
Inc.
.......................
1,924,960
131,906,561
TMX
Group
Ltd.
..........................
390,277
15,917,360
Toromont
Industries
Ltd.
....................
99,785
15,516,316
Tourmaline
Oil
Corp.
(b)
.....................
443,037
21,461,210
Wheaton
Precious
Metals
Corp.
...............
359,942
45,466,079
Whitecap
Resources,
Inc.
...................
2,376,297
28,042,876
1,072,151,450
a
Security
Shares
Value
a
Denmark
 — 
1
.5
%
Carlsberg
A.S.
,
Class
B
....................
79,368
$
10,747,523
Coloplast
A.S.
,
Class
B
.....................
72,101
4,453,942
Demant
A.S.
(a)
(b)
..........................
47,217
1,497,420
Genmab
A.S.
(a)
..........................
43,843
11,608,594
Novo
Nordisk
A.S.
,
Class
B
..................
3,363,543
143,071,440
Pandora
A.S.
...........................
101,371
7,714,227
ROCKWOOL
A.S.
,
Class
B
..................
129,283
3,763,490
Tryg
A.S.
..............................
544,160
13,075,394
195,932,030
a
Finland
 — 
1
.1
%
Elisa
OYJ
..............................
312,674
15,185,927
Fortum
OYJ
............................
334,688
8,431,818
Kone
OYJ
,
Class
B
.......................
814,641
51,820,791
Metso
OYJ
.............................
761,622
13,156,501
Orion
OYJ
,
Class
B
.......................
115,058
9,295,344
UPM-Kymmene
OYJ
......................
294,693
8,829,838
Wartsila
OYJ
Abp
.........................
739,007
31,036,199
137,756,418
a
France
 — 
6
.9
%
Air
Liquide
SA
...........................
475,131
102,219,759
Amundi
SA
(c)
............................
100,032
9,668,717
AXA
SA
...............................
2,273,766
109,607,531
Bureau
Veritas
SA
........................
572,782
17,551,948
Dassault
Aviation
SA
......................
18,711
6,543,195
Euronext
N.V.
(c)
..........................
125,183
20,954,531
Hermes
International
SCA
...................
49,201
94,126,483
Legrand
SA
............................
296,922
53,197,561
L'Oreal
SA
.............................
204,937
88,264,098
LVMH
Moet
Hennessy
Louis
Vuitton
SE
..........
231,314
123,570,062
Publicis
Groupe
SA
.......................
376,259
35,156,619
Schneider
Electric
SE
......................
624,721
198,791,680
Thales
SA
..............................
106,404
29,233,126
888,885,310
a
Germany
 — 
6
.3
%
Allianz
SE
,
Registered
.....................
705,547
322,246,138
Beiersdorf
AG
...........................
59,757
4,953,834
Continental
AG
..........................
165,152
12,495,903
CTS
Eventim
AG
&
Co.
KGaA
................
112,515
7,426,406
Deutsche
Boerse
AG
......................
327,913
100,602,959
GEA
Group
AG
..........................
203,716
13,930,423
Hannover
Rueck
SE
.......................
118,128
35,692,715
Henkel
AG
&
Co.
KGaA
....................
56,249
3,876,448
Knorr-Bremse
AG
........................
66,576
7,764,954
MTU
Aero
Engines
AG
.....................
80,291
27,536,304
Muenchener
Rueckversicherungs-Gesellschaft
AG
in
Muenchen
,
Registered
...................
247,293
147,923,691
Nemetschek
SE
..........................
46,762
3,393,708
Rational
AG
............................
10,582
7,737,518
Rheinmetall
AG
..........................
57,483
91,674,449
Scout24
SE
(c)
...........................
118,768
9,888,897
Symrise
AG
............................
91,259
8,072,830
Talanx
AG
..............................
90,172
11,753,039
816,970,216
a
Hong
Kong
 — 
2
.7
%
CK
Asset
Holdings
Ltd.
.....................
2,586,500
16,293,011
CK
Infrastructure
Holdings
Ltd.
................
677,000
5,699,381
CLP
Holdings
Ltd.
........................
1,492,000
14,346,060
Futu
Holdings
Ltd.
,
ADR
....................
116,070
17,933,976
Henderson
Land
Development
Co.
Ltd.
..........
1,435,000
5,672,133
HKT
Trust
&
HKT
Ltd.
,
Class
SS
...............
4,835,000
7,843,098
Hong
Kong
&
China
Gas
Co.
Ltd.
..............
10,371,370
9,602,044
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
iShares
®
MSCI
Intl
Quality
Factor
ETF
(Percentages
shown
are
based
on
Net
Assets)
2
Security
Shares
Value
a
Hong
Kong
(continued)
Hong
Kong
Exchanges
&
Clearing
Ltd.
..........
2,805,000
$
149,401,884
Link
REIT
..............................
3,004,500
15,128,535
Power
Assets
Holdings
Ltd.
..................
1,544,500
12,763,861
Sino
Land
Co.
Ltd.
........................
5,132,000
8,229,518
SITC
International
Holdings
Co.
Ltd.
............
2,920,000
12,225,953
Sun
Hung
Kai
Properties
Ltd.
.................
1,979,000
34,646,507
Techtronic
Industries
Co.
Ltd.
.................
1,988,500
28,832,647
Wharf
Real
Estate
Investment
Co.
Ltd.
..........
1,795,000
5,621,030
344,239,638
a
Ireland
 — 
0
.3
%
AIB
Group
PLC
..........................
2,625,693
30,265,173
Kingspan
Group
PLC
......................
155,515
14,388,814
44,653,987
a
Israel
 — 
1
.3
%
Bank
Hapoalim
BM
.......................
1,719,523
46,134,853
Bank
Leumi
Le-Israel
BM
...................
1,914,887
48,474,683
Check
Point
Software
Technologies
Ltd.
(a)
........
117,289
13,191,494
Mizrahi
Tefahot
Bank
Ltd.
...................
224,427
17,647,427
Nova
Ltd.
(a)
.............................
28,129
14,045,836
Phoenix
Financial
Ltd.
.....................
388,328
23,365,161
162,859,454
a
Italy
 — 
2
.6
%
Banca
Mediolanum
SpA
....................
385,877
8,457,798
Buzzi
SpA
..............................
64,485
3,530,795
Enel
SpA
..............................
6,325,739
73,857,329
Ferrari
N.V.
.............................
229,061
79,266,750
FinecoBank
Banca
Fineco
SpA
...............
1,337,497
33,204,190
Generali
...............................
1,125,507
50,436,185
Moncler
SpA
............................
282,360
17,046,532
Prysmian
SpA
...........................
272,418
41,437,258
Recordati
Industria
Chimica
e
Farmaceutica
SpA
...
60,026
3,504,779
Terna
-
Rete
Elettrica
Nazionale
...............
1,057,959
12,725,407
Unipol
Assicurazioni
SpA
....................
654,731
17,107,206
340,574,229
a
Japan
 — 
13
.0
%
Advantest
Corp.
..........................
1,072,400
200,236,956
Asics
Corp.
.............................
984,800
27,965,967
Bandai
Namco
Holdings,
Inc.
.................
668,000
15,334,136
Capcom
Co.
Ltd.
.........................
737,700
15,575,509
Chugai
Pharmaceutical
Co.
Ltd.
...............
449,000
23,944,882
Daifuku
Co.
Ltd.
..........................
445,400
19,473,626
Daiichi
Life
Group,
Inc.
.....................
4,575,000
41,887,232
Daito
Trust
Construction
Co.
Ltd.
..............
784,500
17,645,775
Daiwa
House
Industry
Co.
Ltd.
................
899,100
27,432,401
Disco
Corp.
.............................
100,300
47,720,970
Ebara
Corp.
............................
519,600
17,774,431
Fast
Retailing
Co.
Ltd.
.....................
233,900
110,107,303
Fuji
Electric
Co.
Ltd.
.......................
147,400
12,388,205
Fujikura
Ltd.
............................
2,136,900
82,447,980
Hoya
Corp.
.............................
254,900
47,600,976
Japan
Exchange
Group,
Inc.
.................
2,016,800
24,023,564
KDDI
Corp.
.............................
3,624,300
59,309,954
Kikkoman
Corp.
..........................
428,800
3,895,788
Konami
Group
Corp.
......................
159,900
19,199,698
Lasertec
Corp.
..........................
126,400
34,934,219
MatsukiyoCocokara
&
Co.
...................
197,900
2,889,715
MonotaRO
Co.
Ltd.
.......................
449,500
5,344,860
MS&AD
Insurance
Group
Holdings,
Inc.
.........
2,591,700
66,643,147
Nexon
Co.
Ltd.
..........................
471,700
7,963,465
Nintendo
Co.
Ltd.
.........................
1,532,000
74,943,737
Nippon
Building
Fund,
Inc.
...................
8,887
7,442,022
Security
Shares
Value
a
Japan
(continued)
Nitori
Holdings
Co.
Ltd.
.....................
315,900
$
4,566,893
Nitto
Denko
Corp.
........................
556,100
10,577,165
Nomura
Research
Institute
Ltd.
...............
313,500
8,461,283
Obic
Co.
Ltd.
............................
242,900
6,454,618
Olympus
Corp.
..........................
544,400
5,354,454
Oracle
Corp.
Japan
.......................
70,700
3,903,617
Osaka
Gas
Co.
Ltd.
.......................
280,700
10,086,508
Pan
Pacific
International
Holdings
Corp.
.........
1,923,200
10,877,717
Recruit
Holdings
Co.
Ltd.
...................
2,657,500
123,108,593
Sanrio
Co.
Ltd.
..........................
1,261,500
7,351,526
SCREEN
Holdings
Co.
Ltd.
..................
149,400
9,905,373
Secom
Co.
Ltd.
..........................
350,500
12,850,883
Sekisui
Chemical
Co.
Ltd.
...................
326,900
5,009,371
Shin-Etsu
Chemical
Co.
Ltd.
.................
1,287,100
59,260,881
Subaru
Corp.
...........................
458,700
6,832,430
Suzuki
Motor
Corp.
.......................
1,554,600
17,385,762
Toho
Co.
Ltd.
...........................
674,400
6,274,240
Tokio
Marine
Holdings,
Inc.
..................
4,385,300
200,832,578
Tokyo
Electron
Ltd.
.......................
512,900
151,142,720
Unicharm
Corp.
..........................
645,700
3,761,892
ZOZO,
Inc.
.............................
944,000
6,355,441
1,684,480,463
a
Netherlands
 — 
8
.0
%
Adyen
N.V.
(a)
(c)
...........................
52,826
59,611,780
ASML
Holding
N.V.
.......................
540,071
780,697,261
ASR
Nederland
N.V.
.......................
198,632
15,087,971
BE
Semiconductor
Industries
N.V.
.............
88,766
25,965,344
Coca-Cola
Europacific
Partners
PLC
............
123,872
11,714,575
CVC
Capital
Partners
PLC
(c)
.................
476,454
7,251,577
InPost
SA
(a)
.............................
251,267
4,506,794
Koninklijke
KPN
N.V.
......................
5,376,459
28,750,849
Magnum
Ice
Cream
Co.
N.V.
(The)
(a)
(b)
...........
583,147
8,514,064
Universal
Music
Group
N.V.
..................
2,809,931
58,917,492
Wolters
Kluwer
N.V.
.......................
341,746
26,671,706
1,027,689,413
a
New
Zealand
 — 
0
.1
%
Contact
Energy
Ltd.
.......................
810,316
4,547,596
Fisher
&
Paykel
Healthcare
Corp.
Ltd.
...........
347,225
7,482,791
12,030,387
a
Norway
 — 
1
.0
%
Aker
BP
ASA
............................
603,952
23,609,867
Equinor
ASA
............................
1,330,298
54,139,438
Gjensidige
Forsikring
ASA
...................
454,532
12,768,285
Kongsberg
Gruppen
ASA
...................
897,122
30,018,006
Orkla
ASA
..............................
434,914
5,364,234
125,899,830
a
Portugal
 — 
0
.0
%
Jeronimo
Martins
SGPS
SA
..................
133,116
3,196,498
a
Singapore
 — 
2
.7
%
CapitaLand
Ascendas
REIT
..................
4,901,344
9,633,427
CapitaLand
Integrated
Commercial
Trust
.........
7,861,500
14,642,171
DBS
Group
Holdings
Ltd.
...................
2,589,980
119,425,705
Oversea-Chinese
Banking
Corp.
Ltd.
...........
5,083,100
87,696,686
Sembcorp
Industries
Ltd.
(b)
..................
803,700
4,217,770
Singapore
Exchange
Ltd.
...................
1,984,647
33,934,965
Singapore
Technologies
Engineering
Ltd.
.........
2,066,300
17,510,811
United
Overseas
Bank
Ltd.
..................
1,580,600
45,014,002
Yangzijiang
Shipbuilding
Holdings
Ltd.
...........
4,742,500
16,174,124
348,249,661
a
iShares
®
MSCI
Intl
Quality
Factor
ETF
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
(Percentages
shown
are
based
on
Net
Assets)
3
Schedule
of
Investments
Security
Shares
Value
a
Spain
 — 
2
.8
%
CaixaBank
SA
...........................
4,799,364
$
61,087,947
Endesa
SA
.............................
415,566
18,626,367
Iberdrola
SA
............................
6,498,833
152,360,014
Industria
de
Diseno
Textil
SA
.................
1,965,359
117,627,979
Mapfre
SA
.............................
1,522,635
7,453,795
Naturgy
Energy
Group
SA
...................
252,963
7,950,713
Redeia
Corp.
SA
.........................
120,954
2,115,168
367,221,983
a
Sweden
 — 
3
.8
%
AddTech
AB
,
Class
B
......................
384,162
14,108,726
Alfa
Laval
AB
...........................
409,006
24,613,673
Assa
Abloy
AB
,
Class
B
....................
1,106,425
42,583,749
Atlas
Copco
AB
,
Class
A
....................
4,962,546
95,368,379
Atlas
Copco
AB
,
Class
B
....................
2,889,015
49,260,938
Boliden
AB
.............................
194,468
10,222,284
Epiroc
AB
,
Class
A
........................
950,708
27,446,363
Epiroc
AB
,
Class
B
........................
563,782
14,048,180
EQT
AB
...............................
734,689
23,973,303
Essity
AB
,
Class
B
........................
333,789
8,839,339
Evolution
AB
(c)
...........................
241,136
16,994,225
Indutrade
AB
............................
291,471
6,296,887
Investment
AB
Latour
,
Class
B
................
148,469
3,408,367
Lifco
AB
,
Class
B
.........................
290,548
9,142,159
Sandvik
AB
.............................
1,193,401
50,202,944
SKF
AB
,
Class
B
.........................
375,971
9,466,470
Swedish
Orphan
Biovitrum
AB
(a)
...............
127,607
5,986,438
Tele2
AB
,
Class
B
........................
772,559
15,852,406
Volvo
AB
,
Class
B
........................
1,744,098
60,793,562
488,608,392
a
Switzerland
 — 
14
.9
%
ABB
Ltd.
,
Registered
......................
2,827,763
285,998,999
Belimo
Holding
AG
,
Registered
...............
20,594
18,859,141
BKW
AG
..............................
24,004
4,798,256
Chocoladefabriken
Lindt
&
Spruengli
AG
,
Participation
Certificates
,
NVS
.......................
542
6,641,902
Chocoladefabriken
Lindt
&
Spruengli
AG
,
Registered
.
62
8,006,399
Cie
Financiere
Richemont
SA
,
Class
A,
Registered
..
509,735
97,826,949
EMS-Chemie
Holding
AG
,
Registered
...........
7,697
6,561,106
Geberit
AG
,
Registered
.....................
71,285
48,171,596
Givaudan
SA
,
Registered
...................
9,286
33,114,416
Helvetia
Baloise
Holding
AG
.................
121,953
33,437,564
Holcim
AG
(a)
............................
463,297
43,052,497
Kuehne
+
Nagel
International
AG
,
Registered
......
97,732
22,954,005
Logitech
International
SA
,
Registered
...........
194,828
19,231,955
Nestle
SA
,
Registered
.....................
2,544,896
257,644,365
Novartis
AG
,
Registered
....................
1,969,369
291,052,394
Partners
Group
Holding
AG
..................
57,539
62,556,546
Roche
Holding
AG
,
Bearer
..................
31,591
13,213,302
Roche
Holding
AG
,
NVS
....................
688,312
280,487,030
Schindler
Holding
AG
,
Participation
Certificates
,
NVS
64,307
22,482,919
Schindler
Holding
AG
,
Registered
..............
37,314
12,494,255
Sika
AG
,
Registered
.......................
129,233
23,839,123
Sonova
Holding
AG
,
Registered
...............
28,335
6,211,261
Straumann
Holding
AG
,
Registered
.............
82,773
8,983,253
Swiss
Re
AG
............................
408,115
65,742,697
VAT
Group
AG
(c)
.........................
52,106
39,144,651
Zurich
Insurance
Group
AG
..................
298,245
207,942,383
1,920,448,964
a
United
Kingdom
 — 
16
.3
%
3i
Group
PLC
...........................
1,978,247
68,798,934
Admiral
Group
PLC
.......................
646,242
29,705,241
AstraZeneca
PLC
........................
1,376,242
261,103,675
Security
Shares
Value
a
United
Kingdom
(continued)
Autotrader
Group
PLC
(c)
....................
2,419,336
$
16,274,690
BAE
Systems
PLC
........................
3,604,360
100,250,035
British
American
Tobacco
PLC
................
1,334,554
78,598,292
Bunzl
PLC
.............................
386,828
12,752,182
Centrica
PLC
...........................
3,971,368
11,607,873
Coca-Cola
HBC
AG
,
Class
DI
(a)
...............
177,837
10,373,037
Compass
Group
PLC
......................
2,464,914
69,651,090
Diageo
PLC
............................
1,644,150
33,243,688
Endeavour
Mining
PLC
.....................
129,442
7,812,695
Experian
PLC
...........................
1,572,771
57,546,154
Fresnillo
PLC
...........................
216,548
9,562,058
GSK
PLC
..............................
3,872,238
101,520,282
Halma
PLC
.............................
290,268
17,467,646
Imperial
Brands
PLC
......................
718,486
27,297,175
Intertek
Group
PLC
.......................
309,582
19,942,686
Land
Securities
Group
PLC
..................
873,128
7,025,437
London
Stock
Exchange
Group
PLC
............
700,816
90,935,551
National
Grid
PLC
........................
4,243,748
75,965,533
Next
PLC
..............................
192,620
33,995,213
Prudential
PLC
..........................
4,751,885
71,608,720
Reckitt
Benckiser
Group
PLC
.................
708,540
45,083,382
RELX
PLC
.............................
3,252,056
118,590,548
Rio
Tinto
PLC
...........................
976,149
98,333,832
Sage
Group
PLC
(The)
.....................
1,246,557
14,867,235
Schroders
PLC
..........................
1,115,397
8,782,617
Segro
PLC
.............................
1,653,463
15,661,573
Shell
PLC
..............................
7,243,593
329,342,778
Smiths
Group
PLC
........................
445,371
15,376,715
Spirax
Group
PLC
........................
80,032
7,810,880
SSE
PLC
..............................
1,107,612
39,657,339
Sunbelt
Rentals
Holdings,
Inc.
................
419,994
31,568,421
Unilever
PLC
...........................
2,591,988
151,152,095
Wise
PLC
,
Class
A
(a)
.......................
1,660,312
23,744,669
2,113,009,971
a
Total
Common
Stocks — 99.0%
(Cost:
$
10,013,773,509
)
..............................
12,789,397,472
a
Preferred
Stocks
Germany
 — 
0
.1
%
Dr
Ing
hc
F
Porsche
AG
,
Preference
Shares
,
NVS
(b)
..
91,651
4,450,660
Henkel
AG
&
Co.
KGaA
,
Preference
Shares
,
NVS
...
90,590
6,592,051
a
Total
Preferred
Stocks — 0.1%
(Cost:
$
15,021,439
)
.................................
11,042,711
a
Warrants
Canada
 — 
0
.0
%
Constellation
Software
Inc.,
(Issued
08/29/23,1
Share
for
1
Warrant,
Expires
03/31/40,
Strike
Price
CAD
11.50)
(a)
(d)
............................
15,091
—
a
Total
Warrants — 0.0%
(Cost:
$
–
)
........................................
—
a
Total
Long-Term
Investments — 99.1%
(Cost:
$
10,028,794,948
)
..............................
12,800,440,183
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
iShares
®
MSCI
Intl
Quality
Factor
ETF
(Percentages
shown
are
based
on
Net
Assets)
4
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).
Security
Shares
Value
a
Short-Term
Securities
Money
Market
Funds
 — 
0
.3
%
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
3.83
%
(e)
(f)
(g)
......................
35,572,016
$
35,582,688
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
,
3.61
%
(e)
(f)
.............................
3,524,474
3,524,474
a
Total
Short-Term
Securities — 0.3%
(Cost:
$
39,106,260
)
.................................
39,107,162
Total
Investments
—  99.4%
(Cost:
$
10,067,901,208
)
..............................
12,839,547,345
Other
Assets
Less
Liabilities
—
0
.6
%
......................
82,232,372
Net
Assets
—
100.0%
.................................
$
12,921,779,717
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
this
security
is
on
loan.
(c)
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.
(d)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
(e)
Affiliate
of
the
Fund.
(f)
Annualized
7-day
yield
as
of
period
end.
(g)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
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
$
6,535,013
$
29,049,457
(a)
$
—
$
(
2,683
)
$
901
$
35,582,688
35,572,016
$
65,870
(b)
$
—
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
..
2,750,000
774,474
(a)
—
—
—
3,524,474
3,524,474
85,469
—
$
—
$
(
2,683
)
$
901
$
39,107,162
$
151,339
$
—
(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
TOPIX
Index
........................................................................
85
06/11/26
$
20,413
$
723,302
SPI
200
Index
.......................................................................
119
06/18/26
18,566
(
65,732
)
Euro
STOXX
50
Index
.................................................................
727
06/19/26
49,829
1,312,294
FTSE
100
Index
.....................................................................
204
06/19/26
28,851
191,418
$
2,161,282
iShares
®
MSCI
Intl
Quality
Factor
ETF
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
5
Schedule
of
Investments
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
Common
Stocks
.........................................
$
1,705,785,636
‌
$
11,083,611,836
‌
$
—
‌
$
12,789,397,472
‌
Preferred
Stocks
.........................................
—
‌
11,042,711
‌
—
‌
11,042,711
‌
Warrants
..............................................
—
‌
—
‌
—
‌
—
‌
Short-Term
Securities
Money
Market
Funds
......................................
39,107,162
‌
—
‌
—
‌
39,107,162
‌
$
1,744,892,798
‌
$
11,094,654,547
‌
$
—
‌
$
12,839,547,345
‌
Derivative
Financial
Instruments
(a)
Assets
Equity
Contracts
...........................................
$
2,227,014
‌
$
—
‌
$
—
‌
$
2,227,014
‌
Liabilities
Equity
Contracts
...........................................
(
65,732
)
—
‌
—
‌
(
65,732
)
$
2,161,282
‌
$
—
‌
$
—
‌
$
2,161,282
‌
(a)
Derivative
financial
instruments
are
futures
contracts.
Futures
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.
Portfolio
Abbreviation
ADR
American
Depositary
Receipt
NVS
Non-Voting
Shares
REIT
Real
Estate
Investment
Trust
Fair
Value
Hierarchy
as
of
Period
End
(continued)