Schedule of Investments (unaudited) 
June 30, 2026
iShares® S&P Small-Cap 600 Value ETF
(Percentages shown are based on Net Assets)
Security
 

Shares
Value
Common Stocks
Air Freight & Logistics — 0.3%
Hub Group, Inc., Class A
521,549
$  22,838,631
Automobile Components — 1.8%
Adient PLC(a)
675,158
12,409,404
Dana, Inc.
477,898
13,003,605
Dauch Corp.(a)
2,042,468
11,070,177
Fox Factory Holding Corp.(a)(b)
359,212
6,086,847
Gentherm, Inc.(a)
148,145
5,053,226
LCI Industries
209,083
22,137,708
Patrick Industries, Inc.
155,766
13,984,671
Phinia, Inc.
318,721
26,253,049
Standard Motor Products, Inc.
182,106
7,096,671
Versigent PLC(a)
610,345
25,640,593
 
142,735,951
Automobiles — 0.1%
Winnebago Industries, Inc.
242,419
7,573,170
Banks — 12.3%
Ameris Bancorp
233,150
21,044,119
Atlantic Union Bankshares Corp.
1,230,907
52,079,675
Banc of California, Inc.
1,176,716
24,040,308
BancFirst Corp.
66,072
7,342,581
Bank of Hawaii Corp.
340,771
27,769,429
BankUnited, Inc.
331,314
16,052,163
Banner Corp.
292,151
19,410,513
Beacon Financial Corp.
720,882
21,950,857
Capitol Federal Financial, Inc.
1,001,325
8,521,276
Cathay General Bancorp
576,552
35,740,459
Central Pacific Financial Corp.
224,489
8,575,480
City Holding Co.
37,483
4,971,745
Community Financial System, Inc.
221,486
14,866,140
Customers Bancorp, Inc.(a)
137,984
10,914,534
CVB Financial Corp.
1,441,766
32,511,823
Dime Commercial Bancshares, Inc.
353,232
14,358,881
Eagle Bancorp, Inc.(b)
240,518
6,828,306
Eastern Bankshares, Inc.
705,022
15,679,689
FB Financial Corp.
193,617
10,716,701
First BanCorp/Puerto Rico
554,921
14,466,791
First Bancorp/Southern Pines NC
199,501
12,754,099
First Commonwealth Financial Corp.
871,189
17,711,272
First Financial Bancorp
893,445
30,225,244
First Hawaiian, Inc.
1,047,282
30,685,363
First Interstate BancSystem, Inc., Class A
727,597
28,056,140
Fulton Financial Corp.
1,627,460
39,368,257
Hanmi Financial Corp.
254,041
8,230,928
Heritage Financial Corp.
354,515
10,500,734
Hilltop Holdings, Inc.
352,767
13,680,304
Hope Bancorp, Inc.
1,099,513
15,041,338
Independent Bank Corp.
236,920
19,834,942
Lakeland Financial Corp.
111,425
6,877,151
National Bank Holdings Corp., Class A
385,237
17,116,080
NBT Bancorp, Inc.
447,326
22,084,485
Nicolet Bankshares, Inc.
80,717
13,349,785
Northwest Bancshares, Inc.
1,258,421
19,077,662
OFG Bancorp
203,533
9,987,364
Park National Corp.
70,645
12,927,329
Provident Financial Services, Inc.
1,120,800
26,495,712
Renasant Corp.
793,610
33,760,169
S&T Bancorp, Inc.
309,430
15,186,824
Seacoast Banking Corp. of Florida
438,614
14,583,916
ServisFirst Bancshares, Inc.
216,489
18,780,421
Simmons First National Corp., Class A
1,247,661
28,259,522
Security
 
Shares
Value
Banks (continued)
Southside Bancshares, Inc.
240,093
$  8,448,873
Stellar Bancorp, Inc.
220,407
8,666,403
Tompkins Financial Corp.
108,841
10,287,651
Triumph Financial, Inc.(a)
194,722
14,859,236
TrustCo Bank Corp.
85,245
4,680,803
Trustmark Corp.
257,069
11,827,745
United Community Banks, Inc.
1,029,400
36,121,646
WaFd, Inc.
635,493
24,383,867
WesBanco, Inc.
222,993
8,703,417
Westamerica BanCorp
115,148
6,755,733
WSFS Financial Corp.
210,381
16,142,534
 
983,294,419
Beverages — 0.0%
National Beverage Corp.(a)
101,357
3,162,338
Biotechnology — 0.4%
Arcus Biosciences, Inc.(a)
275,703
8,499,923
Sarepta Therapeutics, Inc.(a)(b)
354,525
6,370,814
Vir Biotechnology, Inc.(a)(b)
620,904
6,327,012
Xencor, Inc.(a)(b)
637,238
10,259,532
 
31,457,281
Broadline Retail — 0.2%
Kohls Corp.
966,462
17,125,707
Building Products — 1.3%
Apogee Enterprises, Inc.
182,276
8,337,304
CSW Industrials, Inc.
59,464
16,548,831
Gibraltar Industries, Inc.(a)
255,266
11,512,497
Griffon Corp.
136,013
13,265,348
Hayward Holdings, Inc.(a)(b)
893,684
15,469,670
Masterbrand, Inc.(a)(b)
1,800,797
18,530,201
Quanex Building Products Corp.
389,738
7,256,922
Resideo Technologies, Inc.(a)(b)
526,901
16,386,621
 
107,307,394
Capital Markets — 1.5%
Artisan Partners Asset Management, Inc., Class A
280,771
9,695,023
BGC Group, Inc., Class A
1,302,290
13,921,480
Cohen & Steers, Inc.
129,704
9,875,662
Donnelley Financial Solutions, Inc.(a)
119,080
4,995,406
Lazard, Inc.
121,789
5,107,831
MarketAxess Holdings, Inc.
140,605
15,957,261
Moelis & Co., Class A
275,112
17,997,827
Piper Sandler Cos.
267,630
19,360,354
Victory Capital Holdings, Inc., Class A
139,398
11,717,796
Virtus Investment Partners, Inc.
53,898
7,734,363
 
116,363,003
Chemicals — 4.2%
Balchem Corp.
113,417
19,161,802
Celanese Corp., Class A
944,059
43,426,714
Chemours Co. (The)
1,294,634
26,565,890
Eastman Chemical Co.
984,385
65,934,107
Element Solutions, Inc.
985,662
47,065,360
FMC Corp.
1,076,676
12,381,774
Hawkins, Inc.(b)
59,186
8,410,331
HB Fuller Co.
469,084
27,342,906
Ingevity Corp.(a)
128,543
9,598,306
Innospec, Inc.
212,067
17,260,133
Koppers Holdings, Inc.
164,905
7,404,235
Minerals Technologies, Inc.
266,971
19,747,845
Quaker Chemical Corp.
118,117
18,765,248
Stepan Co.
185,561
10,339,459
 
333,404,110
1

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P Small-Cap 600 Value ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Commercial Services & Supplies — 2.2%
ABM Industries, Inc.
503,934
$  22,294,040
CoreCivic, Inc.(a)
851,349
25,863,983
Deluxe Corp.
393,670
9,400,840
GEO Group, Inc. (The)(a)
1,129,133
33,365,880
HNI Corp.
601,217
24,295,179
Interface, Inc., Class A
219,147
7,854,228
Millerknoll, Inc.
588,568
12,042,101
Pitney Bowes, Inc.
568,003
9,951,413
UniFirst Corp.
73,822
19,522,966
Vestis Corp.(a)
966,833
14,038,415
 
178,629,045
Communications Equipment — 0.5%
Extreme Networks, Inc.(a)
394,113
12,757,438
Harmonic, Inc.(a)
934,174
15,255,061
NetScout Systems, Inc.(a)
274,738
11,964,840
 
39,977,339
Construction & Engineering — 0.5%
Arcosa, Inc.
152,168
22,108,489
WillScot Holdings Corp., Class A
747,969
21,586,385
 
43,694,874
Construction Materials — 0.0%
United States Lime & Minerals, Inc.
26,613
2,785,583
Consumer Finance — 1.2%
Bread Financial Holdings, Inc.
347,531
37,654,984
Credit Acceptance Corp.(a)(b)
27,233
17,340,340
Encore Capital Group, Inc.(a)(b)
184,594
17,220,774
Navient Corp.
562,048
4,783,029
PROG Holdings, Inc.
344,966
16,078,865
World Acceptance Corp.(a)(b)
7,720
1,727,968
 
94,805,960
Consumer Staples Distribution & Retail — 0.7%
Andersons, Inc. (The)
290,469
19,868,079
Grocery Outlet Holding Corp.(a)(b)
851,618
8,499,148
United Natural Foods, Inc.(a)
523,028
23,886,689
 
52,253,916
Containers & Packaging — 0.2%
O-I Glass, Inc.(a)(b)
1,319,958
12,711,196
Distributors — 1.5%
LKQ Corp.
2,193,394
57,752,064
Pool Corp.
276,076
59,328,732
 
117,080,796
Diversified Consumer Services — 1.3%
ADT, Inc.
3,257,090
21,171,085
Bright Horizons Family Solutions, Inc.(a)
153,876
10,906,731
Matthews International Corp., Class A
267,481
7,200,588
Perdoceo Education Corp.
177,179
5,669,728
Strategic Education, Inc.
192,589
14,756,169
Stride, Inc.(a)(b)
360,709
31,107,544
Universal Technical Institute, Inc.(a)(b)
239,541
10,245,169
 
101,057,014
Diversified REITs — 0.9%
American Assets Trust, Inc.
407,135
10,052,163
Broadstone Net Lease, Inc.
1,221,715
25,252,849
Essential Properties Realty Trust, Inc.
614,396
18,339,721
Global Net Lease, Inc.
1,640,971
14,670,281
 
68,315,014
Diversified Telecommunication Services — 0.7%
Cogent Communications Holdings, Inc.
189,041
2,623,889
Security
 
Shares
Value
Diversified Telecommunication Services (continued)
Iridium Communications, Inc.
355,024
$  19,473,067
Lumen Technologies, Inc.(a)(b)
4,488,149
34,468,984
 
56,565,940
Electric Utilities — 0.6%
Hawaiian Electric Industries, Inc.(a)(b)
1,486,321
20,109,923
MGE Energy, Inc.
162,507
13,250,821
Otter Tail Corp.
198,808
17,888,744
 
51,249,488
Electronic Equipment, Instruments & Components — 3.4%
Benchmark Electronics, Inc.
308,870
30,476,203
CTS Corp.
137,543
8,966,428
ePlus, Inc.
83,840
6,978,003
Insight Enterprises, Inc.(a)(b)
260,028
31,671,410
Itron, Inc.(a)
137,384
11,887,838
Knowles Corp.(a)(b)
316,783
13,140,159
Napco Security Technologies, Inc.
105,056
3,990,027
PC Connection, Inc.
97,259
7,098,934
Plexus Corp.(a)(b)
128,989
38,783,123
Ralliant Corp.
462,542
34,056,967
Rogers Corp.(a)
142,912
23,398,982
ScanSource, Inc.(a)
160,486
8,359,716
Vishay Intertechnology, Inc.
1,067,542
57,412,409
 
276,220,199
Energy Equipment & Services — 2.1%
Atlas Energy Solutions, Inc.
666,446
11,069,668
Bristow Group, Inc.
221,320
9,144,942
Cactus, Inc., Class A
220,987
11,321,164
Core Laboratories, Inc.(b)
399,505
4,654,233
Helix Energy Solutions Group, Inc.(a)
1,178,184
10,297,328
Helmerich & Payne, Inc.
438,811
14,366,672
Innovex International, Inc.(a)
193,557
4,800,214
Liberty Energy, Inc., Class A
1,404,892
36,794,122
Noble Corp. PLC
510,027
19,024,007
Oceaneering International, Inc.(a)(b)
352,116
14,267,740
Patterson-UTI Energy, Inc.
2,974,047
27,301,752
RPC, Inc.
771,469
4,497,664
 
167,539,506
Entertainment — 0.1%
Cinemark Holdings, Inc.
345,287
10,955,956
Financial Services — 2.1%
Enact Holdings, Inc.
108,891
4,977,407
HA Sustainable Infrastructure Capital, Inc.
627,157
24,490,481
Jackson Financial, Inc., Class A
470,777
48,202,857
Merchants Bancorp
253,129
12,656,450
NCR Atleos Corp.(a)(b)
241,129
10,467,410
Payoneer Global, Inc.(a)
791,371
5,634,561
Radian Group, Inc.
572,422
21,563,137
Remitly Global, Inc.(a)
191,378
4,288,781
Walker & Dunlop, Inc.
295,587
16,168,609
Western Union Co. (The)
2,687,180
20,691,286
 
169,140,979
Food Products — 2.5%
Campbells Co. (The)(b)
1,694,021
37,725,848
Conagra Brands, Inc.
4,016,381
54,060,488
Del Monte Corp.
281,770
7,864,201
Flowers Foods, Inc.
1,824,108
14,410,453
Freshpet, Inc.(a)(b)
157,014
9,282,668
J & J Snack Foods Corp.
128,963
9,472,332
John B Sanfilippo & Son, Inc.
77,878
6,696,729
2

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P Small-Cap 600 Value ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Food Products (continued)
Lamb Weston Holdings, Inc.
1,188,621
$  51,324,655
Simply Good Foods Co. (The)(a)
721,496
9,581,467
 
200,418,841
Gas Utilities — 0.7%
Chesapeake Utilities Corp.
82,676
10,126,157
MDU Resources Group, Inc.
1,799,302
38,163,195
Northwest Natural Holding Co.
170,290
8,354,427
 
56,643,779
Ground Transportation — 1.5%
ArcBest Corp.
191,673
27,512,742
Heartland Express, Inc.
396,233
6,030,666
Hertz Global Holdings, Inc.(a)(b)
340,550
771,346
Marten Transport Ltd.
497,460
8,630,931
RXO, Inc.(a)(b)
1,419,774
39,171,565
Schneider National, Inc., Class B
428,186
15,641,635
Werner Enterprises, Inc.
516,136
22,508,691
 
120,267,576
Health Care Equipment & Supplies — 2.7%
Avanos Medical, Inc.(a)
402,614
10,017,036
CONMED Corp.
258,717
8,467,808
Enovis Corp.(a)
495,356
10,253,869
Glaukos Corp.(a)
156,756
21,908,219
ICU Medical, Inc.(a)
111,874
16,400,729
Integer Holdings Corp.(a)(b)
292,324
27,317,678
Integra LifeSciences Holdings Corp.(a)
575,580
10,337,417
Merit Medical Systems, Inc.(a)
190,048
13,177,928
Neogen Corp.(a)
1,874,108
16,848,231
Omnicell, Inc.(a)(b)
391,166
16,241,212
QuidelOrtho Corp.(a)
584,837
10,243,420
STAAR Surgical Co.(a)(b)
205,770
5,903,541
Tandem Diabetes Care, Inc.(a)(b)
258,289
3,897,581
Teleflex, Inc.
381,107
48,309,123
 
219,323,792
Health Care Providers & Services — 3.0%
Acadia Healthcare Co., Inc.(a)(b)
791,785
23,381,411
AdaptHealth Corp.(a)(b)
926,707
9,656,287
Addus HomeCare Corp.(a)(b)
53,048
5,329,733
AMN Healthcare Services, Inc.(a)(b)
335,596
10,863,242
Astrana Health, Inc.(a)(b)
365,485
16,962,159
Concentra Group Holdings Parent, Inc.
512,316
15,241,401
CorVel Corp.(a)
102,093
6,382,854
LifeStance Health Group, Inc.(a)
868,530
9,301,956
Molina Healthcare, Inc.(a)(b)
448,496
102,571,035
NeoGenomics, Inc.(a)(b)
471,844
6,884,204
RadNet, Inc.(a)(b)
218,840
13,495,863
Select Medical Holdings Corp.
950,326
15,689,882
U.S. Physical Therapy, Inc.
69,904
4,801,007
 
240,561,034
Health Care REITs — 0.5%
LTC Properties, Inc.
175,346
6,742,054
Medical Properties Trust, Inc.
4,222,528
19,508,079
National Health Investors, Inc.
166,906
12,728,252
 
38,978,385
Health Care Technology — 0.1%
Certara, Inc.(a)
492,747
3,227,493
HealthStream, Inc.
99,253
2,704,644
 
5,932,137
Hotel & Resort REITs — 1.1%
Apple Hospitality REIT, Inc.
1,890,051
31,771,757
Security
 
Shares
Value
Hotel & Resort REITs (continued)
DiamondRock Hospitality Co.
897,430
$  10,930,697
Pebblebrook Hotel Trust
975,060
18,925,915
Sunstone Hotel Investors, Inc.
1,603,899
18,364,644
Xenia Hotels & Resorts, Inc.
427,863
8,711,291
 
88,704,304
Hotels, Restaurants & Leisure — 2.4%
BJs Restaurants, Inc.(a)
100,185
6,084,736
Caesars Entertainment, Inc.(a)
1,753,386
52,917,189
Cheesecake Factory, Inc. (The)
184,977
14,713,071
Cracker Barrel Old Country Store, Inc.
192,196
10,244,047
Life Time Group Holdings, Inc.(a)
370,291
15,122,684
Marriott Vacations Worldwide Corp.
236,536
24,098,288
Papa Johns International, Inc.(b)
150,862
5,547,196
Penn Entertainment, Inc.(a)
1,092,529
23,336,419
Pursuit Attractions & Hospitality, Inc.(a)
178,467
9,988,798
Sabre Corp.(a)
3,385,775
7,076,270
Six Flags Entertainment Corp.(a)(b)
483,537
10,299,338
United Parks & Resorts, Inc.(a)(b)
96,002
4,583,135
Wendys Co. (The)(b)
1,359,920
11,273,737
 
195,284,908
Household Durables — 3.1%
Century Communities, Inc.
215,500
15,442,730
Champion Homes, Inc.(a)
257,102
22,655,828
Dream Finders Homes, Inc., Class A(a)(b)
240,274
4,147,129
Green Brick Partners, Inc.(a)
111,557
8,929,022
La-Z-Boy, Inc.
352,361
14,136,723
Leggett & Platt, Inc.
1,174,714
13,755,901
LGI Homes, Inc.(a)(b)
175,967
11,205,579
M/I Homes, Inc.(a)
220,303
35,422,519
Meritage Homes Corp.
574,217
48,148,096
Mohawk Industries, Inc.(a)(b)
440,768
53,478,382
Newell Brands, Inc.
3,658,171
22,461,170
 
249,783,079
Household Products — 0.6%
Central Garden & Pet Co.(a)
69,592
3,085,709
Central Garden & Pet Co., Class A, NVS(a)
441,838
17,130,059
Energizer Holdings, Inc.
524,613
11,247,703
Reynolds Consumer Products, Inc.
258,226
6,933,368
WD-40 Co.
47,486
11,569,489
 
49,966,328
Industrial REITs — 0.6%
Innovative Industrial Properties, Inc.
247,743
15,355,111
LXP Industrial Trust
238,572
12,854,259
Terreno Realty Corp.
274,581
17,784,612
 
45,993,982
Insurance — 2.0%
AMERISAFE, Inc.
87,474
2,959,246
Assured Guaranty Ltd.
171,943
13,782,951
Employers Holdings, Inc.
156,904
7,920,514
Genworth Financial, Inc., Class A(a)
3,294,171
31,195,799
Goosehead Insurance, Inc., Class A(a)
65,651
3,184,074
Horace Mann Educators Corp.
166,708
8,610,468
Kemper Corp.
506,361
13,651,493
Lincoln National Corp.
1,464,881
51,783,543
Safety Insurance Group, Inc.
62,305
4,664,152
Stewart Information Services Corp.
261,967
17,295,061
Trupanion, Inc.(a)(b)
100,208
2,482,152
United Fire Group, Inc.
97,155
5,094,808
 
162,624,261
3

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P Small-Cap 600 Value ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Interactive Media & Services — 1.7%
Cargurus, Inc., Class A(a)(b)
326,781
$  11,139,964
Match Group, Inc.
2,008,079
76,407,406
People, Inc.(a)
537,375
24,805,230
QuinStreet, Inc.(a)
175,087
2,565,025
Yelp, Inc.(a)
190,162
4,662,772
Ziff Davis, Inc.(a)(b)
317,146
16,608,936
ZoomInfo Technologies, Inc., Class A(a)(b)
944,041
2,766,040
 
138,955,373
IT Services — 0.7%
DXC Technology Co.(a)(b)
1,407,613
12,457,375
EPAM Systems, Inc.(a)(b)
449,763
35,688,694
Everforth, Inc.(a)(b)
351,251
6,276,855
 
54,422,924
Leisure Products — 0.2%
Callaway Golf Co.(a)
422,083
7,930,940
Peloton Interactive, Inc., Class A(a)(b)
1,548,685
9,152,728
 
17,083,668
Life Sciences Tools & Services — 0.3%
Azenta, Inc.(a)
141,501
3,611,106
BioLife Solutions, Inc.(a)(b)
169,259
4,779,874
Fortrea Holdings, Inc.(a)
814,518
14,172,613
 
22,563,593
Machinery — 2.7%
Alamo Group, Inc.
93,241
15,337,212
Albany International Corp., Class A
244,514
18,216,293
Astec Industries, Inc.
103,269
6,319,030
Atmus Filtration Technologies, Inc.
217,938
11,112,659
Enerpac Tool Group Corp., Class A
178,686
6,407,680
Franklin Electric Co., Inc.
147,216
15,780,083
Gates Industrial Corp. PLC(a)
1,005,397
28,120,954
Greenbrier Cos., Inc. (The)
266,394
13,055,970
Kadant, Inc.
49,815
15,653,367
Kennametal, Inc.
656,118
22,996,936
Lindsay Corp.
89,455
11,074,529
Mueller Water Products, Inc., Class A
471,542
12,179,930
Tennant Co.
83,295
7,291,644
Trinity Industries, Inc.
684,489
23,669,630
Worthington Enterprises, Inc.
143,795
7,730,419
 
214,946,336
Marine Transportation — 0.6%
Matson, Inc.
260,524
50,080,529
Media — 0.9%
DoubleVerify Holdings, Inc.(a)
452,613
4,906,325
John Wiley & Sons, Inc., Class A
337,146
16,354,952
Scholastic Corp.
140,172
6,447,912
Versant Media Group, Inc.
1,214,870
43,747,469
 
71,456,658
Metals & Mining — 1.4%
Alpha Metallurgical Resources, Inc.(a)
91,959
15,167,717
Century Aluminum Co.(a)
188,956
8,693,866
Kaiser Aluminum Corp.
139,383
27,267,496
Materion Corp.
80,587
23,965,768
Metallus, Inc.(a)
310,266
5,798,871
Warrior Met Coal, Inc.
259,121
21,030,260
Worthington Steel, Inc.
279,727
9,393,233
 
111,317,211
Mortgage Real Estate Investment Trusts (REITs) — 1.2%
Arbor Realty Trust, Inc.
1,654,452
8,967,130
Blackstone Mortgage Trust, Inc., Class A
1,345,371
22,804,039
Security
 
Shares
Value
Mortgage Real Estate Investment Trusts (REITs) (continued)
Franklin BSP Realty Trust, Inc.
667,022
$  5,429,559
Redwood Trust, Inc.
1,081,257
5,125,158
Rithm Capital Corp.
4,806,330
45,131,439
Two Harbors Investment Corp.
903,947
11,217,982
 
98,675,307
Multi-Utilities — 0.3%
Avista Corp.
377,101
15,427,202
Unitil Corp.
154,437
8,137,285
 
23,564,487
Office REITs — 1.1%
Douglas Emmett, Inc.
1,440,499
16,997,888
Easterly Government Properties, Inc.
381,232
9,504,114
Highwoods Properties, Inc.
949,355
28,632,547
JBG SMITH Properties
199,377
2,924,861
SL Green Realty Corp.
612,307
31,699,133
 
89,758,543
Oil, Gas & Consumable Fuels — 3.9%
California Resources Corp.
672,696
35,565,438
Comstock Resources, Inc.(a)(b)
287,965
4,296,438
Core Natural Resources, Inc.(b)
433,958
34,725,319
Crescent Energy Co., Class A
2,104,040
20,661,673
CVR Energy, Inc.
135,565
3,733,460
Dorian LPG Ltd.
316,369
11,003,314
Gulfport Energy Corp.(a)
78,810
13,374,057
Kinetik Holdings, Inc., Class A
233,895
11,306,484
Magnolia Oil & Gas Corp., Class A
1,592,177
40,727,888
Northern Oil & Gas, Inc.
900,176
16,338,194
Par Pacific Holdings, Inc.(a)
224,511
12,590,577
Peabody Energy Corp.
1,048,611
24,243,886
REX American Resources Corp.(a)
76,117
3,436,683
SM Energy Co.
1,960,724
51,174,896
Talos Energy, Inc.(a)
1,063,575
13,730,753
World Kinect Corp.
442,170
14,565,080
 
311,474,140
Paper & Forest Products — 0.1%
Sylvamo Corp.
287,238
10,857,596
Passenger Airlines — 0.6%
Allegiant Travel Co.(a)(b)
194,477
22,870,495
JetBlue Airways Corp.(a)(b)
2,562,473
14,682,971
SkyWest, Inc.(a)
129,764
12,889,458
 
50,442,924
Personal Care Products — 0.3%
Coty, Inc., Class A(a)(b)
3,204,896
6,922,575
Edgewell Personal Care Co.
396,476
10,649,345
Interparfums, Inc.
67,288
7,526,836
 
25,098,756
Pharmaceuticals — 1.1%
Amneal Pharmaceuticals, Inc., Class A(a)
593,327
10,270,490
Amphastar Pharmaceuticals, Inc.(a)
141,236
2,850,142
Innoviva, Inc.(a)
245,755
5,581,096
Organon & Co.
2,260,749
30,610,541
Perrigo Co. PLC
1,191,135
12,375,893
Prestige Consumer Healthcare, Inc.(a)(b)
407,851
19,279,117
Supernus Pharmaceuticals, Inc.(a)
155,599
7,236,910
 
88,204,189
Professional Services — 2.1%
Amentum Holdings, Inc.(a)
1,325,120
27,390,230
Concentrix Corp.
372,179
8,338,671
First Advantage Corp.(a)
364,790
6,584,460
4

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P Small-Cap 600 Value ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Professional Services (continued)
Insperity, Inc.
312,213
$  12,897,519
Korn Ferry
446,696
29,741,020
Legalzoom.com, Inc.(a)
206,511
1,265,912
ManpowerGroup, Inc.
400,431
13,522,555
Paycom Software, Inc.
357,246
44,898,677
Robert Half, Inc.
865,537
26,571,986
 
171,211,030
Real Estate Management & Development — 0.5%
AGNT, Inc.
811,766
4,391,654
Cushman & Wakefield Ltd.(a)(b)
1,993,230
26,689,349
Marcus & Millichap, Inc.
200,610
6,253,014
 
37,334,017
Residential REITs — 0.1%
Centerspace
75,310
4,231,669
NexPoint Residential Trust, Inc.
102,991
2,875,509
 
7,107,178
Retail REITs — 1.6%
Acadia Realty Trust
1,149,484
24,035,711
Getty Realty Corp.
240,351
8,018,109
InvenTrust Properties Corp.
324,268
11,479,087
Macerich Co. (The)
1,170,231
29,478,119
NETSTREIT Corp.
216,571
4,576,145
Phillips Edison & Co., Inc.
455,621
18,962,946
Saul Centers, Inc.
48,337
1,807,320
Tanger, Inc.
335,927
13,259,039
Urban Edge Properties
564,237
12,909,743
Whitestone REIT
194,215
3,682,316
 
128,208,535
Semiconductors & Semiconductor Equipment — 6.1%
Alpha & Omega Semiconductor Ltd.(a)
213,473
10,103,677
Axcelis Technologies, Inc.(a)(b)
95,261
18,047,197
Cohu, Inc.(a)(b)
406,139
30,017,734
Diodes, Inc.(a)
395,531
43,286,913
Enphase Energy, Inc.(a)(b)
1,134,602
55,867,803
Ichor Holdings Ltd.(a)
299,168
33,590,583
Kulicke & Soffa Industries, Inc.
450,515
60,260,886
MaxLinear, Inc.(a)
413,041
52,881,639
Penguin Solutions, Inc.(a)(b)
202,790
15,414,068
Photronics, Inc.(a)(b)
507,697
16,515,383
Power Integrations, Inc.
479,687
40,178,583
Qorvo, Inc.(a)
255,131
23,796,068
SolarEdge Technologies, Inc.(a)(b)
214,700
12,547,068
Ultra Clean Holdings, Inc.(a)
385,912
55,027,192
Veeco Instruments, Inc.(a)(b)
257,483
19,517,211
 
487,052,005
Software — 1.7%
A10 Networks, Inc.
209,601
7,830,693
ACI Worldwide, Inc.(a)(b)
297,608
14,966,706
Alarm.com Holdings, Inc.(a)
178,669
8,347,416
Blackbaud, Inc.(a)(b)
152,979
4,531,238
Box, Inc., Class A(a)
416,938
11,065,534
Cleanspark, Inc.(a)(b)
927,954
13,501,731
MARA Holdings, Inc.(a)(b)
1,477,144
20,517,530
N-able, Inc.(a)(b)
321,825
1,181,098
NCR Voyix Corp.(a)(b)
1,194,325
9,757,635
Progress Software Corp.(a)
116,683
3,918,215
Q2 Holdings, Inc.(a)(b)
199,068
9,575,171
RingCentral, Inc., Class A
261,071
10,176,548
Security
 
Shares
Value
Software (continued)
SPS Commerce, Inc.(a)(b)
125,910
$  7,198,275
Teradata Corp.(a)(b)
348,248
12,066,793
 
134,634,583
Specialized REITs — 0.6%
Four Corners Property Trust, Inc.
500,835
12,295,499
Millrose Properties, Inc., Class A
544,430
16,360,121
Outfront Media, Inc.
422,039
13,825,998
Safehold, Inc.
392,325
6,159,503
 
48,641,121
Specialty Retail — 4.3%
Academy Sports & Outdoors, Inc.
555,361
26,174,164
Advance Auto Parts, Inc.
519,374
32,315,450
American Eagle Outfitters, Inc.
778,054
13,382,529
Asbury Automotive Group, Inc.(a)
160,291
32,231,314
Buckle, Inc. (The)
104,504
4,410,069
CarMax, Inc.(a)
1,221,631
64,612,063
Group 1 Automotive, Inc.
101,328
29,503,674
MarineMax, Inc.(a)(b)
167,268
6,125,354
Sally Beauty Holdings, Inc.(a)(b)
821,332
11,613,634
Signet Jewelers Ltd.
344,948
29,734,518
Sonic Automotive, Inc., Class A
112,716
9,557,190
Upbound Group, Inc.
450,772
9,565,382
Victorias Secret & Co.(a)(b)
683,745
57,079,032
Warby Parker, Inc., Class A(a)
328,796
9,975,671
Winmark Corp.
11,036
4,669,111
 
340,949,155
Technology Hardware, Storage & Peripherals — 0.2%
Corsair Gaming, Inc.(a)
404,860
3,914,996
Diebold Nixdorf, Inc.(a)(b)
107,099
9,105,557
 
13,020,553
Textiles, Apparel & Luxury Goods — 1.0%
Carters, Inc.
317,287
13,059,533
G-III Apparel Group Ltd.
319,406
10,767,176
Kontoor Brands, Inc.
201,394
16,784,176
Steven Madden Ltd.
276,842
11,655,048
Under Armour, Inc., Class A(a)(b)
1,623,834
10,376,299
Under Armour, Inc., Class C, NVS(a)(b)
1,022,753
6,361,524
Wolverine World Wide, Inc.
705,914
11,668,759
 
80,672,515
Tobacco — 0.1%
Universal Corp.
214,511
11,191,039
Trading Companies & Distributors — 1.0%
Boise Cascade Co.
302,961
23,518,863
DNOW, Inc.(a)
1,571,627
20,384,002
Rush Enterprises, Inc., Class A
525,116
38,325,591
 
82,228,456
Water Utilities — 0.6%
American States Water Co.
118,112
9,759,595
California Water Service Group
267,982
13,037,324
H2O America(b)
338,610
20,577,330
Middlesex Water Co.
73,227
4,112,428
 
47,486,677
Wireless Telecommunication Services — 0.5%
Shenandoah Telecommunications Co.
396,570
5,980,275
Telephone & Data Systems, Inc.
832,776
30,821,040
 
36,801,315
Total Long-Term Investments — 98.4%
(Cost: $7,051,642,346)
7,888,167,628
5

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P Small-Cap 600 Value ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Short-Term Securities
Money Market Funds — 6.5%
BlackRock Cash Funds: Institutional, SL Agency
Shares, 3.82%(c)(d)(e)
389,241,706
$  389,358,479
BlackRock Cash Funds: Treasury, SL Agency Shares,
3.62%(c)(d)
130,687,155
130,687,155
Total Short-Term Securities — 6.5%
(Cost: $519,936,155)
520,045,634
Total Investments — 104.9%
(Cost: $7,571,578,501)
8,408,213,262
Liabilities in Excess of Other Assets — (4.9)%
(390,380,213
)
Net Assets — 100.0%
$  8,017,833,049
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan.
(c)
Affiliate of the Fund.
(d)
Annualized 7-day yield as of period end.
(e)
All or a portion of this security was purchased with the cash collateral from loaned
securities.
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended June 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
03/31/26
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain
(Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
06/30/26
Shares
Held at
06/30/26
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock Cash
Funds: Institutional, SL
Agency Shares
$  227,560,317
$  161,771,242
(a)
$  
$  (2,631
)
$  29,551
$  389,358,479
389,241,706
$  312,508
(b)
$  
BlackRock Cash
Funds: Treasury, SL Agency
Shares
92,776,588
37,910,567
(a)
130,687,155
130,687,155
661,237
 
$  (2,631
)
$  29,551
$  520,045,634
$  973,745
$  
(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
224
09/18/26
$  34,111
$  738,976
6

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P Small-Cap 600 Value ETF
Equity Swap Contracts
Reference Entity
Counterparty
Notional Amount
Termination Date
Spread
Reference Rate
Payment
Frequency
Value/ Unrealized
Appreciation
(Depreciation)
Long Contracts(a)
Conagra Brands, Inc.
JPMorgan Chase Bank NA
USD 
1,369,098
02/09/27
0.40
%
1D OBFR01
Monthly
$  (51,633
)
Eastern Bankshares, Inc.
Merrill Lynch International
 
23,162,238
02/15/28
0.40
%
1D OBFR01
Monthly
1,834,277
F&G Annuities & Life, Inc.
Goldman Sachs Bank USA
 
9,147,221
08/18/26
0.40
%
1D FEDL01
Monthly
(663,628
)
InvenTrust Properties Corp.
Goldman Sachs Bank USA
 
5,897,929
08/18/26
0.40
%
1D FEDL01
Monthly
182,410
Jackson Financial, Inc., Class A
HSBC Bank PLC
 
9,419,506
02/09/28
0.40
%
1D OBFR01
Monthly
(429,357
)
Jackson Financial, Inc., Class A
JPMorgan Chase Bank NA
 
4,426,695
02/09/27
0.40
%
1D OBFR01
Monthly
(201,776
)
Lazard, Inc.
BNP Paribas SA
 
20,566,401
09/07/27
0.40
%
1D OBFR01
Monthly
(1,098,986
)
Lincoln National Corp.
Goldman Sachs Bank USA
 
45,309
08/18/26
0.40
%
1D FEDL01
Monthly
(2,677
)
Moelis & Co., Class A
JPMorgan Chase Bank NA
 
3,572
02/09/27
0.40
%
1D OBFR01
Monthly
(171
)
NETSTREIT Corp.
Goldman Sachs Bank USA
 
4,967,465
08/18/26
0.40
%
1D FEDL01
Monthly
(18,270
)
Remitly Global, Inc.
Goldman Sachs Bank USA
 
6,446,001
08/18/26
0.40
%
1D FEDL01
Monthly
912,883
WesBanco, Inc.
BNP Paribas SA
 
21,932,485
09/07/27
0.40
%
1D OBFR01
Monthly
1,650,885
Total long positions of equity swaps
2,113,957
Net dividends and financing fees
(74,723
)
Total equity swap contracts including dividends and financing fees
$ 2,039,234
(a)
The Fund receives the total return on a reference entity and pays a variable rate of interest, based on a specified benchmark. The benchmark and spread are determined based upon
the country and/or currency of the individual underlying position.
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. 
7

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P Small-Cap 600 Value 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
$  7,888,167,628
$  
$  
$  7,888,167,628
Short-Term Securities
Money Market Funds
520,045,634
520,045,634
 
$  8,408,213,262
$  
$  
$  8,408,213,262
Derivative Financial Instruments(a)
Assets
Equity Contracts
$  738,976
$  4,580,455
$  
$  5,319,431
Liabilities
Equity Contracts
(2,541,221
)
(2,541,221
)
 
$  738,976
$  2,039,234
$  
$  2,778,210
(a)
Derivative financial instruments are swaps and futures contracts. Swaps and futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.
Currency Abbreviation
USD
United States Dollar
Portfolio Abbreviation
1D FEDL01
USD - 1D Overnight Fed Funds Effective Rate
1D OBFR01
USD - 1D Overnight Bank Funding Rate
NVS
Non-Voting Shares
REIT
Real Estate Investment Trust
8