Schedule of Investments (unaudited) 
June 30, 2026
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security
 

Shares
Value
Common Stocks
Aerospace & Defense — 2.3%
Axon Enterprise, Inc.(a)
44,329
$  24,851,281
Boeing Co. (The)(a)
728,157
157,624,146
General Dynamics Corp.
197,285
69,886,238
General Electric Co.
826,052
308,720,414
Honeywell Aerospace, Inc.(a)
521,972
115,397,570
Huntington Ingalls Industries, Inc.
64,866
18,155,345
L3Harris Technologies, Inc.
308,079
89,524,677
Lockheed Martin Corp.
333,961
170,139,771
Northrop Grumman Corp.
220,043
112,070,100
Textron, Inc.
288,350
26,450,345
 
1,092,819,887
Air Freight & Logistics — 0.7%
CH Robinson Worldwide, Inc.
194,291
36,592,767
Expeditors International of Washington, Inc.
215,730
35,159,675
FedEx Corp.
362,089
113,380,929
United Parcel Service, Inc., Class B
1,231,452
132,381,090
 
317,514,461
Automobile Components — 0.0%
Aptiv PLC(a)
350,913
21,539,040
Automobiles — 2.0%
Ford Motor Co.
6,455,701
89,734,244
General Motors Co.
1,491,085
114,932,832
Tesla, Inc.(a)
1,764,599
742,190,339
 
946,857,415
Banks — 5.5%
Bank of America Corp.
10,769,062
613,621,153
Citigroup, Inc.
2,813,267
393,744,849
Citizens Financial Group, Inc.
697,250
48,856,308
Fifth Third Bancorp
1,488,507
83,907,140
Huntington Bancshares, Inc.
3,356,362
59,508,298
JPMorgan Chase & Co.
1,414,304
462,944,128
KeyCorp
1,520,112
35,038,582
M&T Bank Corp.
241,548
57,490,839
PNC Financial Services Group, Inc. (The)
662,361
163,086,525
Regions Financial Corp.
1,407,615
42,509,973
Truist Financial Corp.
2,055,012
102,380,698
U.S. Bancorp
2,563,993
154,865,177
Wells Fargo & Co.
5,047,639
417,136,887
 
2,635,090,557
Beverages — 1.5%
Brown-Forman Corp., Class B, NVS
277,692
7,400,492
Coca-Cola Co. (The)
3,703,775
301,005,794
Constellation Brands, Inc., Class A
230,043
31,996,681
Keurig Dr. Pepper, Inc.
2,248,655
73,598,478
Molson Coors Beverage Co., Class B
264,631
10,310,024
PepsiCo, Inc.
2,254,264
305,227,345
 
729,538,814
Biotechnology — 2.1%
AbbVie, Inc.
1,574,223
396,137,476
Amgen, Inc.
284,211
102,918,487
Biogen, Inc.(a)
243,327
52,573,232
Gilead Sciences, Inc.
941,365
118,932,054
Moderna, Inc.(a)(b)
582,484
40,791,354
Regeneron Pharmaceuticals, Inc.
164,815
102,768,745
Vertex Pharmaceuticals, Inc.(a)
418,952
208,106,027
 
1,022,227,375
Security
 
Shares
Value
Broadline Retail — 3.8%
Amazon.com, Inc.(a)
7,588,840
$  1,808,724,125
eBay, Inc.
190,409
21,278,206
 
1,830,002,331
Building Products — 0.7%
A. O. Smith Corp.
185,489
11,633,870
Allegion PLC
64,853
9,111,198
Builders FirstSource, Inc.(a)(b)
177,414
15,875,005
Carrier Global Corp.
1,287,794
94,459,690
Johnson Controls International PLC
341,935
49,960,123
Lennox International, Inc.
52,205
29,910,855
Masco Corp.
332,753
27,076,111
Trane Technologies PLC
171,380
84,175,001
 
322,201,853
Capital Markets — 4.1%
Ameriprise Financial, Inc.
148,103
67,943,732
Ares Management Corp., Class A
347,925
38,727,532
Bank of New York Mellon Corp. (The)
418,888
60,575,394
BlackRock, Inc.(c)
237,986
228,837,818
Blackstone, Inc., Class A
1,225,356
144,187,640
Cboe Global Markets, Inc.
83,797
20,335,018
Charles Schwab Corp. (The)
2,696,496
248,805,686
CME Group, Inc., Class A
262,391
57,943,805
Coinbase Global, Inc., Class A(a)(b)
366,883
53,634,626
FactSet Research Systems, Inc.
60,073
13,821,596
Franklin Resources, Inc.
510,656
16,989,525
Goldman Sachs Group, Inc. (The)
170,301
172,237,322
Intercontinental Exchange, Inc.
932,781
114,834,669
Invesco Ltd.
736,202
19,428,371
KKR & Co., Inc., Class A
520,771
47,796,362
Moodys Corp.
128,875
58,370,065
Morgan Stanley
771,135
161,198,060
MSCI, Inc., Class A
57,646
32,284,066
Nasdaq, Inc.
736,944
58,085,926
Northern Trust Corp.
305,218
53,059,097
Raymond James Financial, Inc.
286,094
43,494,871
S&P Global, Inc.
280,054
114,054,792
State Street Corp.
456,508
77,423,757
T Rowe Price Group, Inc.
353,428
40,181,229
 
1,944,250,959
Chemicals — 2.2%
Air Products & Chemicals, Inc.
367,261
107,673,580
Albemarle Corp.
194,276
26,233,088
CF Industries Holdings, Inc.
253,402
27,433,301
Corteva, Inc.
1,103,196
93,429,669
Dow, Inc.
1,189,437
32,542,996
DuPont de Nemours, Inc.
220,857
29,957,044
Ecolab, Inc.
417,795
116,401,865
International Flavors & Fragrances, Inc.
422,429
33,464,825
Linde PLC
762,623
395,755,580
LyondellBasell Industries NV, Class A
424,895
22,370,722
Mosaic Co. (The)
531,164
11,255,365
PPG Industries, Inc.
367,659
44,593,360
Sherwin-Williams Co. (The)
378,344
130,271,406
 
1,071,382,801
Commercial Services & Supplies — 0.8%
Cintas Corp.
562,216
95,621,697
Copart, Inc.(a)
1,461,682
41,204,816
Republic Services, Inc.
329,855
70,285,503
1

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Commercial Services & Supplies (continued)
Veralto Corp.
405,103
$  35,924,534
Waste Management, Inc.
609,402
135,823,518
 
378,860,068
Communications Equipment — 1.1%
Cisco Systems, Inc.
3,063,077
359,789,024
F5, Inc.(a)(b)
93,222
38,776,623
Motorola Solutions, Inc.
273,258
113,481,315
 
512,046,962
Construction Materials — 0.5%
CRH PLC
1,105,585
118,297,595
Martin Marietta Materials, Inc.
99,032
57,111,755
Vulcan Materials Co.
214,030
63,140,990
 
238,550,340
Consumer Finance — 0.7%
American Express Co.
280,925
95,022,881
Capital One Financial Corp.
1,026,434
205,923,189
Synchrony Financial
554,836
42,195,278
 
343,141,348
Consumer Staples Distribution & Retail — 3.8%
Costco Wholesale Corp.
732,164
684,917,457
Dollar General Corp.
363,852
41,883,004
Dollar Tree, Inc.(a)
298,710
36,128,975
Kroger Co. (The)
935,632
51,955,645
Sysco Corp.
788,740
65,922,889
Target Corp.
746,886
97,550,780
Walmart, Inc.
7,230,620
818,940,021
 
1,797,298,771
Containers & Packaging — 0.4%
Amcor PLC
760,911
32,985,492
Avery Dennison Corp.
126,169
20,483,537
Ball Corp.
442,033
27,582,859
International Paper Co.
870,146
33,152,563
Packaging Corp. of America
146,059
34,802,938
Smurfit Westrock PLC
866,714
40,094,190
 
189,101,579
Distributors — 0.1%
Genuine Parts Co.
227,010
26,782,640
Diversified Telecommunication Services — 1.4%
AT&T Inc.
11,460,965
237,241,975
Comcast Corp., Class A
5,876,656
144,271,905
Verizon Communications, Inc.
6,887,384
291,611,839
 
673,125,719
Electric Utilities — 2.9%
Alliant Energy Corp.(b)
424,059
32,351,461
American Electric Power Co., Inc.
897,480
122,784,239
Constellation Energy Corp.
174,587
43,362,173
Duke Energy Corp.
1,282,722
162,366,951
Edison International
637,719
47,478,180
Entergy Corp.
755,261
86,749,278
Evergy, Inc.
379,951
32,839,165
Eversource Energy
620,874
44,870,564
Exelon Corp.
1,691,083
78,838,289
FirstEnergy Corp.
862,602
41,008,099
NextEra Energy, Inc.
3,435,219
301,509,172
NRG Energy, Inc.
90,738
13,253,192
PG&E Corp.
3,638,541
61,200,260
Pinnacle West Capital Corp.
198,196
21,206,972
PPL Corp.
1,240,960
45,108,896
Security
 
Shares
Value
Electric Utilities (continued)
Southern Co. (The)
1,859,432
$  177,966,237
Xcel Energy, Inc.
1,029,700
82,684,910
 
1,395,578,038
Electrical Equipment — 1.3%
AMETEK, Inc.
378,068
91,469,772
Eaton Corp. PLC
640,657
272,996,761
Emerson Electric Co.
923,857
132,250,129
Generac Holdings, Inc.(a)
97,057
28,419,260
Hubbell, Inc.
87,168
45,606,298
Rockwell Automation, Inc.
82,603
40,895,093
 
611,637,313
Electronic Equipment, Instruments & Components — 0.7%
CDW Corp.
210,723
29,636,083
Corning, Inc.
400,210
102,225,640
Jabil, Inc.
68,221
26,297,831
Keysight Technologies, Inc.(a)
282,910
99,038,304
TE Connectivity PLC
150,115
30,264,685
Teledyne Technologies, Inc.(a)
76,415
50,961,163
Zebra Technologies Corp., Class A(a)
78,577
20,686,181
 
359,109,887
Energy Equipment & Services — 0.5%
Baker Hughes Co., Class A
1,630,086
90,469,773
Halliburton Co.
1,384,641
47,008,562
SLB Ltd.
2,466,509
114,668,003
 
252,146,338
Entertainment — 1.0%
Electronic Arts, Inc.
196,708
40,333,008
Live Nation Entertainment, Inc.(a)
122,970
22,517,037
Take-Two Interactive Software, Inc.(a)
138,273
34,565,484
Walt Disney Co. (The)
2,864,288
275,687,720
Warner Bros Discovery, Inc., Class A(a)
4,088,030
108,986,880
 
482,090,129
Financial Services — 2.0%
Apollo Global Management, Inc.
357,558
42,302,687
Block, Inc., Class A(a)
882,771
67,090,596
Corpay, Inc.(a)
107,822
35,933,838
Fidelity National Information Services, Inc.
855,945
33,279,142
Fiserv, Inc.(a)
879,587
43,143,742
Global Payments, Inc.
383,520
27,828,211
Jack Henry & Associates, Inc.
118,443
16,314,339
Mastercard, Inc., Class A
439,193
225,569,525
PayPal Holdings, Inc.
1,454,990
62,826,468
Visa, Inc., Class A
1,231,923
422,660,462
 
976,949,010
Food Products — 0.8%
Archer-Daniels-Midland Co.
795,187
60,752,287
Bunge Global SA
223,420
23,845,617
General Mills, Inc.
884,474
30,779,695
Hershey Co. (The)
244,808
42,951,563
Hormel Foods Corp.
476,962
11,838,197
J M Smucker Co. (The)
176,753
19,884,712
Kraft Heinz Co. (The)
1,414,069
33,400,310
McCormick & Co., Inc., NVS
417,757
21,063,308
Mondelez International, Inc., Class A
2,114,352
122,294,120
Tyson Foods, Inc., Class A
466,909
26,730,540
 
393,540,349
Gas Utilities — 0.1%
Atmos Energy Corp.
274,140
47,226,098
2

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Ground Transportation — 1.4%
CSX Corp.
3,067,270
$  145,787,343
Fedex Freight Holding Co., Inc.(a)
178,852
27,006,652
JB Hunt Transport Services, Inc.
122,875
35,563,711
Norfolk Southern Corp.
370,431
116,533,888
Old Dominion Freight Line, Inc.
301,879
65,386,992
Union Pacific Corp.
978,777
266,227,344
 
656,505,930
Health Care Equipment & Supplies — 1.9%
Abbott Laboratories
2,868,212
260,261,557
Align Technology, Inc.(a)
110,497
18,636,424
Baxter International, Inc.(b)
853,698
18,200,841
Becton Dickinson & Co.
454,495
68,778,728
Boston Scientific Corp.(a)
806,797
34,434,096
Cooper Cos., Inc. (The)(a)
323,273
23,181,907
Dexcom, Inc.(a)
311,073
20,950,767
Edwards Lifesciences Corp.(a)
512,877
46,394,854
GE HealthCare Technologies, Inc.
750,325
48,028,303
Medtronic PLC
2,114,627
165,427,270
ResMed, Inc.
108,298
21,105,114
Solventum Corp.(a)
244,705
18,878,991
STERIS PLC
80,303
16,909,403
Stryker Corp.
329,499
103,739,465
Zimmer Biomet Holdings, Inc.
319,114
27,472,524
 
892,400,244
Health Care Providers & Services — 3.5%
Cardinal Health, Inc.
386,321
91,774,417
Cencora, Inc.
321,449
90,963,638
Centene Corp.(a)
773,956
49,680,235
Cigna Group (The)
436,322
120,285,249
CVS Health Corp.
2,104,580
217,718,801
DaVita, Inc.(a)
52,958
11,782,096
Elevance Health, Inc.
358,200
138,526,686
Henry Schein, Inc.(a)(b)
159,719
13,339,731
Humana, Inc.
198,905
79,009,044
Labcorp Holdings, Inc.
135,253
37,870,840
McKesson Corp.
198,270
149,812,812
Quest Diagnostics, Inc.
182,222
38,621,953
UnitedHealth Group, Inc.
1,497,936
622,587,140
Universal Health Services, Inc., Class B
87,900
13,069,851
 
1,675,042,493
Health Care REITs — 0.1%
Alexandria Real Estate Equities, Inc.
259,390
13,708,762
Healthpeak Properties, Inc.
1,137,174
24,335,524
Ventas, Inc.
384,913
34,180,274
 
72,224,560
Health Care Technology — 0.0%
Veeva Systems, Inc., Class A(a)
94,817
16,827,173
Hotel & Resort REITs — 0.1%
Host Hotels & Resorts, Inc.
1,057,313
25,068,891
Hotels, Restaurants & Leisure — 1.3%
Airbnb, Inc., Class A(a)
365,367
52,284,018
Chipotle Mexican Grill, Inc.(a)
2,115,816
71,937,744
Darden Restaurants, Inc.
188,721
38,878,413
Dominos Pizza, Inc.
50,476
14,942,915
McDonalds Corp.
656,299
177,404,183
MGM Resorts International(a)
316,288
15,121,729
Norwegian Cruise Line Holdings Ltd.(a)(b)
327,658
6,916,860
Starbucks Corp.
1,879,256
192,041,171
Yum! Brands, Inc.
231,859
37,064,980
 
606,592,013
Security
 
Shares
Value
Household Durables — 0.5%
DR Horton, Inc.
435,006
$  70,853,777
Garmin Ltd.
269,475
64,011,092
Lennar Corp., Class A
355,029
32,126,574
NVR, Inc.(a)
4,451
30,326,443
PulteGroup, Inc.
314,209
43,112,617
 
240,430,503
Household Products — 1.7%
Church & Dwight Co., Inc.
390,677
37,848,788
Clorox Co. (The)
201,308
19,212,835
Colgate-Palmolive Co.
1,319,875
121,006,140
Kimberly-Clark Corp.
547,783
60,130,140
Procter & Gamble Co. (The)
3,840,919
563,232,362
 
801,430,265
Independent Power and Renewable Electricity Producers — 0.0%
AES Corp. (The)
1,170,571
17,160,571
Industrial Conglomerates — 0.5%
3M Co.
860,300
139,291,173
Honeywell International, Inc.
521,972
116,869,531
 
256,160,704
Industrial REITs — 0.4%
Prologis, Inc.
1,537,855
208,333,217
Insurance — 3.2%
Aflac, Inc.
755,588
88,592,693
Allstate Corp. (The)
424,611
101,031,941
American International Group, Inc.
874,541
65,179,541
Aon PLC, Class A
352,296
116,853,060
Arch Capital Group Ltd.(a)
573,973
55,709,819
Arthur J. Gallagher & Co.
424,639
97,484,375
Assurant, Inc.
81,281
21,826,387
Brown & Brown, Inc.
483,203
30,997,473
Chubb Ltd.
594,972
202,730,759
Cincinnati Financial Corp.
104,616
19,368,606
Erie Indemnity Co., Class A, NVS
41,523
9,955,139
Everest Group Ltd.
65,261
23,313,187
Globe Life, Inc.
128,063
22,882,297
Hartford Insurance Group, Inc. (The)
452,161
59,920,376
Loews Corp.
279,535
31,646,157
Marsh & McLennan Cos., Inc.
794,688
132,450,649
MetLife, Inc.
891,499
75,429,731
Principal Financial Group, Inc.
324,237
34,946,264
Progressive Corp. (The)
424,097
92,643,990
Prudential Financial, Inc.
574,012
61,953,115
Travelers Cos., Inc. (The)
350,744
115,787,609
W R Berkley Corp.
207,560
14,639,207
Willis Towers Watson PLC
155,789
40,718,571
 
1,516,060,946
IT Services — 0.9%
Accenture PLC, Class A
1,014,943
126,299,507
Akamai Technologies, Inc.(a)
237,630
28,090,242
Cognizant Technology Solutions Corp., Class A
781,617
30,272,026
Gartner, Inc.(a)(b)
110,430
14,313,937
GoDaddy, Inc., Class A(a)
218,409
18,538,556
International Business Machines Corp.
744,132
209,257,360
 
426,771,628
Leisure Products — 0.0%
Hasbro, Inc.
220,639
18,222,575
Life Sciences Tools & Services — 1.7%
Agilent Technologies, Inc.
467,440
62,090,055
Bio-Techne Corp.(b)
259,376
18,324,914
3

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Life Sciences Tools & Services (continued)
Charles River Laboratories International, Inc.(a)(b)
79,455
$  18,019,599
Danaher Corp.
1,037,746
197,669,858
IQVIA Holdings, Inc.(a)
275,287
53,190,954
Mettler-Toledo International, Inc.(a)
17,662
22,563,382
Revvity, Inc.
184,021
20,474,177
Thermo Fisher Scientific, Inc.
612,963
307,315,130
Waters Corp.(a)(b)
162,055
60,777,107
West Pharmaceutical Services, Inc.
116,539
41,837,501
 
802,262,677
Machinery — 2.2%
Cummins, Inc.
75,114
53,572,056
Deere & Co.
414,336
262,825,755
Dover Corp.
222,125
49,818,195
Fortive Corp.
502,848
30,718,984
IDEX Corp.
122,085
27,707,191
Illinois Tool Works, Inc.
432,610
117,008,027
Ingersoll Rand, Inc.(b)
587,073
48,134,115
Nordson Corp.
87,167
26,297,412
Otis Worldwide Corp.
632,920
45,317,072
PACCAR, Inc.
866,651
104,102,118
Parker-Hannifin Corp.
91,615
89,610,464
Pentair PLC
266,557
20,434,260
Snap-on, Inc.
85,870
34,554,088
Stanley Black & Decker, Inc.
255,959
24,090,861
Westinghouse Air Brake Technologies Corp.
279,866
75,451,874
Xylem, Inc.
392,064
46,345,885
 
1,055,988,357
Media — 0.2%
Charter Communications, Inc., Class A(a)(b)
137,950
19,617,870
Fox Corp., Class A, NVS
111,209
5,800,662
Fox Corp., Class B
77,179
3,615,064
News Corp., Class A, NVS
601,884
14,944,780
News Corp., Class B
201,933
5,666,240
Omnicom Group, Inc.
470,093
34,236,873
Paramount Skydance Corp., Class B, NVS(b)
508,363
5,012,459
Trade Desk, Inc. (The), Class A(a)
704,316
12,734,033
 
101,627,981
Metals & Mining — 0.6%
Freeport-McMoRan, Inc.
2,370,616
149,088,040
Nucor Corp.
375,646
83,675,147
Steel Dynamics, Inc.
223,600
51,307,256
 
284,070,443
Multi-Utilities — 1.3%
Ameren Corp.
457,699
51,738,295
CenterPoint Energy, Inc.
1,081,710
47,638,508
CMS Energy Corp.
508,631
38,910,272
Consolidated Edison, Inc.
607,870
67,248,658
Dominion Energy, Inc.
1,450,620
99,062,840
DTE Energy Co.
343,288
52,306,793
NiSource, Inc.
788,840
37,509,342
Public Service Enterprise Group, Inc.
821,959
66,710,192
Sempra
1,076,568
99,808,619
WEC Energy Group, Inc.
538,498
62,880,411
 
623,813,930
Office REITs — 0.0%
BXP, Inc.
245,126
16,254,305
Oil, Gas & Consumable Fuels — 6.1%
APA Corp.
585,924
19,083,545
Chevron Corp.
3,087,939
511,856,769
ConocoPhillips
2,009,530
208,910,739
Security
 
Shares
Value
Oil, Gas & Consumable Fuels (continued)
Devon Energy Corp.
1,899,047
$  78,468,622
Diamondback Energy, Inc.
321,253
56,469,852
EOG Resources, Inc.
878,539
113,972,864
EQT Corp.
1,033,298
54,940,455
Expand Energy Corp.
394,976
36,017,861
Exxon Mobil Corp.
6,836,890
934,739,601
Kinder Morgan, Inc.
3,229,323
103,241,456
Marathon Petroleum Corp.
481,532
123,113,286
Occidental Petroleum Corp.
1,191,001
57,846,919
ONEOK, Inc.
1,037,895
90,234,591
Phillips 66
661,328
111,797,498
Targa Resources Corp.
354,878
95,156,987
Texas Pacific Land Corp.
96,040
42,030,946
Valero Energy Corp.
489,774
127,556,741
Williams Cos., Inc. (The)
2,014,377
149,748,786
 
2,915,187,518
Passenger Airlines — 0.4%
Delta Air Lines, Inc.
1,074,060
100,596,460
Southwest Airlines Co.
809,915
41,645,829
United Airlines Holdings, Inc.(a)
536,034
72,895,264
 
215,137,553
Personal Care Products — 0.2%
Estee Lauder Cos., Inc. (The), Class A
407,454
32,168,493
Kenvue, Inc.
3,162,100
60,427,731
 
92,596,224
Pharmaceuticals — 3.0%
Bristol-Myers Squibb Co.
3,368,306
194,081,792
Johnson & Johnson
1,627,942
413,448,430
Merck & Co., Inc.
4,073,858
523,490,753
Pfizer, Inc.
9,400,959
226,375,093
Viatris, Inc.
1,899,791
30,168,681
Zoetis, Inc., Class A
691,497
49,690,974
 
1,437,255,723
Professional Services — 0.7%
Automatic Data Processing, Inc.
659,334
147,657,849
Broadridge Financial Solutions, Inc.
190,767
26,125,541
Equifax, Inc.
196,413
31,174,671
Jacobs Solutions, Inc.
193,586
24,391,836
Leidos Holdings, Inc.
207,472
21,363,392
Paychex, Inc.
531,883
52,300,056
Verisk Analytics, Inc.
101,572
18,235,221
 
321,248,566
Real Estate Management & Development — 0.2%
CBRE Group, Inc., Class A(a)
481,536
64,858,084
CoStar Group, Inc.(a)
673,570
19,075,502
 
83,933,586
Residential REITs — 0.4%
AvalonBay Communities, Inc.
229,138
43,236,049
Camden Property Trust
165,796
18,981,984
Equity Residential
562,375
38,202,134
Essex Property Trust, Inc.
106,389
31,021,969
Invitation Homes, Inc.
901,462
27,233,167
Mid-America Apartment Communities, Inc.
193,180
26,840,429
UDR, Inc.
487,708
19,469,303
 
204,985,035
Retail REITs — 0.5%
Federal Realty Investment Trust
130,475
16,105,834
Kimco Realty Corp.
1,117,816
28,336,636
Realty Income Corp.
1,538,110
95,301,295
4

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P 500 Value ETF
(Percentages shown are based on Net Assets)
Security
 
Shares
Value
Retail REITs (continued)
Regency Centers Corp.
272,339
$  21,716,312
Simon Property Group, Inc.
315,588
70,581,256
 
232,041,333
Semiconductors & Semiconductor Equipment — 5.8%
Analog Devices, Inc.
805,974
320,108,694
Intel Corp.(a)
7,792,744
1,088,100,845
Marvell Technology, Inc.
765,429
228,013,645
Microchip Technology, Inc.
895,287
81,650,175
NXP Semiconductors NV
415,112
116,658,925
ON Semiconductor Corp.(a)
646,419
61,112,452
Qnity Electronics, Inc.
345,298
56,390,616
QUALCOMM, Inc.
1,738,518
321,260,741
Skyworks Solutions, Inc.
247,838
16,803,416
Teradyne, Inc.
108,532
52,512,123
Texas Instruments, Inc.
1,501,156
447,449,569
 
2,790,061,201
Software — 2.8%
Adobe, Inc.(a)
666,707
136,688,269
Autodesk, Inc.(a)
147,118
28,602,682
Cadence Design Systems, Inc.(a)
168,332
63,178,366
Fair Isaac Corp.(a)(b)
19,517
23,318,521
Fortinet, Inc.(a)
380,060
58,384,817
Gen Digital, Inc.
907,901
22,597,656
Intuit, Inc.
200,718
52,387,398
Oracle Corp.
1,342,560
196,752,168
Palo Alto Networks, Inc.(a)
588,601
200,724,713
PTC, Inc.(a)
190,518
21,644,750
Roper Technologies, Inc.
166,447
56,324,000
Salesforce, Inc.
1,349,342
211,387,918
ServiceNow, Inc.(a)
663,419
65,864,238
Synopsys, Inc.(a)
315,580
140,770,771
Trimble, Inc.(a)
384,503
19,678,864
Tyler Technologies, Inc.(a)
69,541
20,337,961
Workday, Inc., Class A(a)
188,176
23,036,506
 
1,341,679,598
Specialized REITs — 1.6%
American Tower Corp.
768,463
125,697,493
Crown Castle, Inc.
720,606
54,571,492
Digital Realty Trust, Inc.
544,845
97,843,265
Equinix, Inc.
162,685
169,581,217
Extra Space Storage, Inc.
348,474
50,633,272
Iron Mountain, Inc.
489,557
61,835,945
Public Storage
261,151
83,126,975
SBA Communications Corp., Class A
174,935
30,869,030
VICI Properties, Inc.
1,804,527
47,910,192
Weyerhaeuser Co.
1,189,148
28,468,203
 
750,537,084
Specialty Retail — 2.4%
AutoZone, Inc.(a)
9,474
30,278,336
Best Buy Co., Inc.
323,362
24,536,709
Carvana Co., Class A(a)(b)
572,658
37,692,349
Home Depot, Inc. (The)
1,642,051
579,118,547
Lowes Cos., Inc.
925,256
204,009,695
Ross Stores, Inc.
276,322
58,815,138
TJX Cos., Inc. (The)
820,803
124,351,654
Tractor Supply Co.
865,053
27,344,325
Williams-Sonoma, Inc.
194,210
45,270,351
 
1,131,417,104
Technology Hardware, Storage & Peripherals — 9.2%
Apple Inc.
12,113,043
3,505,030,123
Security
 
Shares
Value
Technology Hardware, Storage & Peripherals (continued)
Dell Technologies, Inc., Class C
477,151
$  205,871,570
Hewlett Packard Enterprise Co.
2,191,839
98,873,857
HP, Inc.
1,508,514
33,096,797
NetApp, Inc.
326,676
50,556,378
Seagate Technology Holdings PLC
133,158
128,497,470
Super Micro Computer, Inc.(a)(b)
928,200
27,224,106
Western Digital Corp.
568,541
363,138,508
 
4,412,288,809
Textiles, Apparel & Luxury Goods — 0.3%
Deckers Outdoor Corp.(a)
234,072
23,241,009
Lululemon Athletica, Inc.(a)
172,726
19,721,854
NIKE, Inc., Class B
1,969,515
80,848,591
 
123,811,454
Tobacco — 0.8%
Altria Group, Inc.
2,754,403
198,179,296
Philip Morris International, Inc.
1,129,790
204,390,309
 
402,569,605
Trading Companies & Distributors — 0.5%
Fastenal Co.
1,898,069
91,164,254
United Rentals, Inc.
45,472
51,514,774
WW Grainger, Inc.
71,646
97,467,219
 
240,146,247
Water Utilities — 0.1%
American Water Works Co., Inc.
321,794
42,341,655
Wireless Telecommunication Services — 0.3%
T-Mobile U.S., Inc.
767,570
128,744,516
Total Common Stocks — 99.8%
(Cost: $41,852,808,457)
47,789,842,299
Rights
Capital Markets — 0.0%
TPG, Inc., CVR(a)
381,105
3,811
Total Rights — 0.0%
(Cost: $ —)
3,811
Total Long-Term Investments — 99.8%
(Cost: $41,852,808,457)
47,789,846,110
Short-Term Securities
Money Market Funds — 0.5%
BlackRock Cash Funds: Institutional, SL Agency
Shares, 3.82%(c)(d)(e)
192,599,136
192,656,916
BlackRock Cash Funds: Treasury, SL Agency
Shares, 3.62%(c)(d)
62,402,857
62,402,857
Total Short-Term Securities — 0.5%
(Cost: $255,027,187)
255,059,773
Total Investments — 100.3%
(Cost: $42,107,835,644)
48,044,905,883
Liabilities in Excess of Other Assets — (0.3)%
(150,843,185
)
Net Assets — 100.0%
$  47,894,062,698
(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.
5

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P 500 Value ETF
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
$  53,875,718
$  138,775,952
(a)
$  
$  (2,491
)
$  7,737
$  192,656,916
192,599,136
$  60,132
(b)
$  
BlackRock Cash
Funds: Treasury, SL
Agency Shares
84,298,517
(21,895,660
)(a)
62,402,857
62,402,857
693,760
BlackRock, Inc.
239,377,313
10,809,125
(22,263,860
)
6,833,092
(5,917,852
)
228,837,818
237,986
1,359,190
 
$  6,830,601
$  (5,910,115
)
$  483,897,591
$  2,113,082
$  
(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
 
 
Nasdaq 100 E-Mini Index
5
09/18/26
$  3,052
$  37,754
Russell 1000 Value E-Mini Index
797
09/18/26
95,672
193,165
 
 
 
$  230,919
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. 
6

Schedule of Investments (unaudited) (continued)
June 30, 2026
iShares® S&P 500 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
$  47,789,842,299
$  
$  
$  47,789,842,299
Rights
3,811
3,811
Short-Term Securities
Money Market Funds
255,059,773
255,059,773
 
$  48,044,902,072
$  3,811
$  
$  48,044,905,883
Derivative Financial Instruments(a)
Assets
Equity Contracts
$  230,919
$  
$  
$  230,919
(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
7