iShares
®
U.S.
Financial
Services
ETF
Schedule
of
Investments
(unaudited)
July
31,
2026
(Percentages
shown
are
based
on
Net
Assets)
1
Schedule
of
Investments
Security
Shares
Value
a
Common
Stocks
Banks
 — 
34
.7
%
Bank
of
America
Corp.
.....................
1,960,639
$
121,461,586
Bank
OZK
.............................
29,607
1,518,839
BOK
Financial
Corp.
.......................
6,475
914,853
Citigroup,
Inc.
...........................
512,192
67,839,830
Citizens
Financial
Group,
Inc.
................
126,956
9,096,397
Commerce
Bancshares,
Inc.
.................
40,709
2,412,822
Cullen/Frost
Bankers,
Inc.
...................
18,911
3,145,656
East
West
Bancorp,
Inc.
....................
41,211
5,398,641
Fifth
Third
Bancorp
.......................
271,985
15,367,153
First
Citizens
BancShares,
Inc.
,
Class
A
..........
2,797
6,116,060
First
Financial
Bankshares,
Inc.
...............
39,169
1,376,399
First
Horizon
Corp.
........................
142,979
3,665,982
FNB
Corp.
.............................
107,255
2,027,119
Glacier
Bancorp,
Inc.
......................
38,656
1,905,354
Home
BancShares,
Inc.
....................
56,099
1,742,996
Huntington
Bancshares,
Inc.
.................
608,334
10,366,011
JPMorgan
Chase
&
Co.
....................
804,664
283,072,749
KeyCorp
...............................
276,936
6,255,984
M&T
Bank
Corp.
.........................
43,958
10,826,416
Pinnacle
Financial
Partners,
Inc.
...............
45,260
4,762,710
PNC
Financial
Services
Group,
Inc.
(The)
........
120,595
30,133,073
Popular,
Inc.
............................
19,451
3,408,010
Prosperity
Bancshares,
Inc.
..................
35,353
2,646,879
Regions
Financial
Corp.
....................
256,282
7,931,928
SOUTHSTATE
BANK
CORP.
.................
29,456
3,095,531
Truist
Financial
Corp.
......................
374,301
19,403,764
U.S.
Bancorp
...........................
466,187
29,374,443
UMB
Financial
Corp.
......................
21,539
3,138,878
United
Bankshares,
Inc.
....................
39,812
1,928,891
Valley
National
Bancorp
....................
143,627
2,052,430
Webster
Financial
Corp.
....................
48,815
3,769,494
Wells
Fargo
&
Co.
........................
918,986
79,446,340
Western
Alliance
Bancorp
...................
30,929
2,489,475
Wintrust
Financial
Corp.
....................
20,331
3,243,608
Zions
Bancorp
NA
........................
43,783
3,051,675
754,387,976
a
Capital
Markets
 — 
30
.3
%
Affiliated
Managers
Group,
Inc.
...............
7,967
2,921,738
Ameriprise
Financial,
Inc.
...................
26,972
14,722,396
Ares
Management
Corp.
,
Class
A
..............
63,357
8,115,398
Bank
of
New
York
Mellon
Corp.
(The)
...........
206,125
32,223,521
BlackRock,
Inc.
(a)
.........................
43,352
47,270,587
Blackstone,
Inc.
..........................
223,110
28,502,302
Blue
Owl
Capital,
Inc.
,
Class
A
................
192,304
1,980,731
Carlyle
Group,
Inc.
(The)
....................
77,763
3,578,653
Cboe
Global
Markets,
Inc.
...................
31,116
9,653,117
Charles
Schwab
Corp.
(The)
.................
490,932
51,665,684
CME
Group,
Inc.
,
Class
A
...................
108,829
29,143,318
Coinbase
Global,
Inc.
,
Class
A
(b)
...............
66,768
9,765,488
Evercore,
Inc.
,
Class
A
.....................
11,514
3,690,928
FactSet
Research
Systems,
Inc.
...............
10,993
2,893,358
Franklin
Resources,
Inc.
....................
92,563
3,134,183
Galaxy
Digital,
Inc.
,
Class
A
(b)
.................
58,029
1,219,189
Goldman
Sachs
Group,
Inc.
(The)
.............
88,593
90,221,339
Hamilton
Lane,
Inc.
,
Class
A
.................
12,283
1,092,082
Houlihan
Lokey,
Inc.
,
Class
A
.................
16,305
2,046,114
Interactive
Brokers
Group,
Inc.
,
Class
A
..........
133,918
11,783,445
Intercontinental
Exchange,
Inc.
...............
169,862
25,900,558
Invesco
Ltd.
............................
133,531
3,952,518
Jefferies
Financial
Group,
Inc.
................
49,131
2,682,553
KKR
&
Co.,
Inc.
..........................
207,694
21,066,402
Security
Shares
Value
a
Capital
Markets
(continued)
Lazard,
Inc.
,
Class
A
.......................
32,168
$
1,363,280
LPL
Financial
Holdings,
Inc.
..................
24,033
8,500,472
MarketAxess
Holdings,
Inc.
..................
10,200
1,655,460
Moody's
Corp.
...........................
45,128
21,588,333
Morgan
Stanley
..........................
359,984
75,747,833
Morningstar,
Inc.
.........................
6,615
1,273,851
MSCI,
Inc.
,
Class
A
.......................
21,882
12,521,756
Nasdaq,
Inc.
............................
134,087
12,629,655
Northern
Trust
Corp.
.......................
55,531
10,117,193
Raymond
James
Financial,
Inc.
...............
52,078
9,164,686
Robinhood
Markets,
Inc.
,
Class
A
(b)
.............
237,628
20,569,080
S&P
Global,
Inc.
.........................
91,051
37,506,638
SEI
Investments
Co.
.......................
27,569
2,839,056
State
Street
Corp.
........................
83,184
15,319,165
Stifel
Financial
Corp.
......................
46,234
3,833,261
T
Rowe
Price
Group,
Inc.
...................
64,351
7,191,224
TPG,
Inc.
,
Class
A
........................
40,550
1,770,413
Tradeweb
Markets,
Inc.
,
Class
A
...............
34,965
3,513,982
Virtu
Financial,
Inc.
,
Class
A
..................
24,505
1,439,179
657,770,119
a
Consumer
Finance
 — 
5
.4
%
Ally
Financial,
Inc.
........................
83,601
3,622,431
American
Express
Co.
.....................
159,825
53,741,156
Capital
One
Financial
Corp.
..................
186,878
39,059,371
Credit
Acceptance
Corp.
(b)
(c)
..................
1,779
1,012,091
FirstCash
Holdings,
Inc.
....................
11,641
2,374,880
OneMain
Holdings,
Inc.
,
Class
A
...............
34,820
2,179,036
SLM
Corp.
.............................
56,113
1,458,657
SoFi
Technologies,
Inc.
(b)
(c)
...................
385,357
6,285,173
Synchrony
Financial
.......................
101,020
7,656,306
117,389,101
a
Financial
Services
 — 
29
.4
%
Apollo
Global
Management,
Inc.
...............
138,588
17,405,267
Berkshire
Hathaway,
Inc.
,
Class
B
(b)
............
550,554
281,630,393
Corebridge
Financial,
Inc.
...................
73,193
2,282,890
Equitable
Holdings,
Inc.
....................
80,205
3,821,768
Essent
Group
Ltd.
........................
27,934
1,842,527
Mastercard,
Inc.
,
Class
A
....................
242,308
138,866,715
MGIC
Investment
Corp.
....................
64,095
1,925,414
Radian
Group,
Inc.
........................
40,280
1,570,517
Rocket
Companies,
Inc.
,
Class
A
(b)
.............
294,995
3,805,435
UWM
Holdings
Corp.
......................
95,511
173,830
Visa,
Inc.
,
Class
A
........................
498,415
182,484,684
Voya
Financial,
Inc.
.......................
27,377
2,722,095
638,531,535
a
Total
Long-Term
Investments — 99.8%
(Cost:
$
1,549,968,377
)
...............................
2,168,078,731
a
Short-Term
Securities
Money
Market
Funds
 — 
0
.2
%
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
3.81
%
(a)
(d)
(e)
.....................
198,386
198,445
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
,
3.65
%
(a)
(d)
............................
3,708,256
3,708,256
a
Total
Short-Term
Securities — 0.2%
(Cost:
$
3,906,682
)
..................................
3,906,701
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2026
iShares
®
U.S.
Financial
Services
ETF
(Percentages
shown
are
based
on
Net
Assets)
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. 
Security
Shares
Value
a
Total
Investments
—
100
.0
%
(Cost:
$
1,553,875,059
)
...............................
$
2,171,985,432
Other
Assets
Less
Liabilities
—
0
.0
%
.....................
599,699
Net
Assets
—
100.0%
.................................
$
2,172,585,131
(a)
Affiliate
of
the
Fund.
(b)
Non-income
producing
security.
(c)
All
or
a
portion
of
this
security
is
on
loan.
(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
July
31,
2026
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Affiliated
Issuer
Value
at
04/30/26
Purchases
at
Cost
Proceeds
from
Sale
s
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
07/31/26
  Shares
Held
at
07/31/26
Income
  Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
$
2,000,168
‌
$
—
‌
$
(
1,801,844
)
(a)
$
301
‌
$
(
180
)
$
198,445
‌
198,386
‌
$
4,398
(b)
$
—
‌
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
......
3,706,117
‌
2,139
(a)
—
‌
—
‌
—
‌
3,708,256
‌
3,708,256
‌
23,475
‌
—
‌
BlackRock,
Inc.
..
45,935,885
‌
2,898,370
‌
(
2,690,949
)
671,201
‌
456,080
‌
47,270,587
‌
43,352
‌
237,623
‌
—
‌
$
—
‌
$
671,502
‌
$
455,900
‌
$
51,177,288
‌
$
265,496
‌
$
—
‌
(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
E-Mini
Financial
Select
Sector
Index
.........................................................
25
09/18/26
$
4,403
$
102,450
iShares
®
U.S.
Financial
Services
ETF
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2026
3
Schedule
of
Investments
Level
1
Level
2
Level
3
Total
Assets
Investments
Long-Term
Investments
Common
Stocks
...........................................
$
2,166,859,542
‌
$
1,219,189
‌
$
—
‌
$
2,168,078,731
‌
Short-Term
Securities
Money
Market
Funds
........................................
3,906,701
‌
—
‌
—
‌
3,906,701
‌
$
2,170,766,243
‌
$
1,219,189
‌
$
—
‌
$
2,171,985,432
‌
Derivative
Financial
Instruments
(a)
Assets
Equity
Contracts
.............................................
$
102,450
‌
$
—
‌
$
—
‌
$
102,450
‌
(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)