iShares
®
U.S.
Industrials
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
Aerospace
&
Defense
 — 20.3%
AeroVironment,
Inc.
(a)(b)
.....................
8,841
$
1,320,580
ATI,
Inc.
(a)
..............................
31,619
5,926,665
Axon
Enterprise,
Inc.
(a)
.....................
18,000
9,499,680
Boeing
Co.
(The)
(a)
........................
177,363
38,335,239
BWX
Technologies,
Inc.
....................
21,338
3,599,721
Curtiss-Wright
Corp.
.......................
8,610
6,233,640
FTAI
Aviation
Ltd.
.........................
23,713
4,884,878
General
Dynamics
Corp.
....................
59,708
22,893,241
General
Electric
Co.
.......................
240,998
86,776,150
HEICO
Corp.
...........................
9,950
3,545,782
HEICO
Corp.,
Class
A
......................
17,574
4,521,439
Honeywell
Aerospace,
Inc.
(a)
.................
74,045
15,308,063
Howmet
Aerospace,
Inc.
....................
92,883
26,217,156
Huntington
Ingalls
Industries,
Inc.
..............
9,156
2,988,976
Karman
Holdings,
Inc.
(a)(b)
...................
15,879
764,574
Kratos
Defense
&
Security
Solutions,
Inc.
(a)
.......
43,311
2,018,293
L3Harris
Technologies,
Inc.
..................
43,408
12,026,621
Leonardo
DRS,
Inc.
.......................
17,783
818,907
Loar
Holdings,
Inc.
(a)(b)
......................
10,213
699,080
Lockheed
Martin
Corp.
.....................
47,396
27,619,545
Northrop
Grumman
Corp.
...................
31,171
16,909,644
Rocket
Lab
Corp.
(a)
.......................
125,392
8,144,210
RTX
Corp.
.............................
314,733
67,736,836
StandardAero,
Inc.
(a)
.......................
53,636
1,572,071
Textron,
Inc.
............................
40,382
3,442,969
TransDigm
Group,
Inc.
.....................
13,049
16,368,405
Woodward,
Inc.
..........................
13,871
5,003,963
395,176,328
a
Air
Freight
&
Logistics
 — 2.3%
CH
Robinson
Worldwide,
Inc.
................
27,407
4,048,836
Expeditors
International
of
Washington,
Inc.
.......
30,874
5,183,436
FedEx
Corp.
............................
51,052
15,693,385
GXO
Logistics,
Inc.
(a)
......................
26,727
1,340,626
United
Parcel
Service,
Inc.,
Class
B
............
174,258
18,161,169
44,427,452
a
Building
Products
 — 4.5%
A
O
Smith
Corp.
.........................
25,933
1,559,351
AAON,
Inc.
.............................
15,980
1,423,179
Advanced
Drainage
Systems,
Inc.
.............
16,937
2,345,436
Allegion
PLC
............................
19,893
3,131,158
Armstrong
World
Industries,
Inc.
...............
9,808
1,713,065
Builders
FirstSource,
Inc.
(a)
..................
24,575
1,632,763
Carlisle
Companies,
Inc.
....................
9,352
3,365,972
Carrier
Global
Corp.
.......................
182,196
11,261,535
Fortune
Brands
Innovations,
Inc.
..............
26,909
1,325,537
Hayward
Holdings,
Inc.
(a)
....................
49,088
742,701
Johnson
Controls
International
PLC
............
142,832
20,947,741
Lennox
International,
Inc.
...................
7,350
3,056,718
Louisiana-Pacific
Corp.
.....................
14,720
1,066,170
Masco
Corp.
............................
47,072
3,364,707
Modine
Manufacturing
Co.
(a)
.................
12,140
2,440,868
Owens
Corning
..........................
18,636
2,588,540
Simpson
Manufacturing
Co.,
Inc.
..............
9,648
1,811,316
Trane
Technologies
PLC
....................
51,546
23,450,853
Trex
Co.,
Inc.
(a)
..........................
23,931
1,037,648
88,265,258
a
Chemicals
 — 1.8%
Axalta
Coating
Systems
Ltd.
(a)
................
49,543
1,774,135
Dow,
Inc.
..............................
167,921
5,086,327
PPG
Industries,
Inc.
.......................
52,117
5,759,971
Security
Shares
Value
a
Chemicals
(continued)
RPM
International,
Inc.
.....................
29,465
$
3,154,817
Sherwin-Williams
Co.
(The)
..................
54,040
18,419,534
34,194,784
a
Commercial
Services
&
Supplies
 — 1.3%
Cintas
Corp.
............................
79,563
16,280,977
MSA
Safety,
Inc.
.........................
8,437
1,605,308
Tetra
Tech,
Inc.
..........................
60,955
2,021,268
Veralto
Corp.
............................
57,185
5,385,111
25,292,664
a
Construction
&
Engineering
 — 3.5%
AECOM
...............................
30,202
2,186,323
API
Group
Corp.
(a)
........................
88,972
3,530,409
Comfort
Systems
USA,
Inc.
..................
8,127
14,057,191
Dycom
Industries,
Inc.
(a)
....................
6,931
2,779,816
EMCOR
Group,
Inc.
.......................
10,321
8,230,275
Everus
Construction
Group,
Inc.
(a)
..............
11,822
1,482,834
IES
Holdings,
Inc.
(a)
.......................
2,045
1,522,584
MasTec,
Inc.
(a)
...........................
14,445
3,800,480
Primoris
Services
Corp.
....................
12,464
1,052,086
Quanta
Services,
Inc.
......................
34,828
23,242,814
Sterling
Infrastructure,
Inc.
(a)
.................
7,022
4,190,519
Valmont
Industries,
Inc.
.....................
4,436
2,136,821
WillScot
Holdings
Corp.
....................
40,983
995,067
69,207,219
a
Construction
Materials
 — 1.7%
CRH
PLC
..............................
155,985
14,820,135
Eagle
Materials,
Inc.
.......................
7,220
1,479,667
James
Hardie
Industries
PLC
(a)
...............
34,645
910,817
Martin
Marietta
Materials,
Inc.
................
13,936
7,318,351
Vulcan
Materials
Co.
......................
30,262
8,127,465
32,656,435
a
Consumer
Finance
 — 4.0%
American
Express
Co.
.....................
123,882
41,655,322
Capital
One
Financial
Corp.
..................
145,463
30,403,222
Synchrony
Financial
.......................
78,494
5,949,060
78,007,604
a
Containers
&
Packaging
 — 1.4%
Amcor
PLC
.............................
107,667
4,832,095
AptarGroup,
Inc.
.........................
14,858
1,990,378
Ball
Corp.
..............................
62,063
4,027,889
Crown
Holdings,
Inc.
......................
26,040
3,068,814
Graphic
Packaging
Holding
Co.
...............
67,776
727,236
Packaging
Corp.
of
America
.................
20,218
4,970,393
Silgan
Holdings,
Inc.
.......................
20,531
820,829
Smurfit
Westrock
PLC
.....................
122,092
5,612,569
Sonoco
Products
Co.
......................
22,743
1,281,796
27,331,999
a
Diversified
Consumer
Services
 — 0.1%
ADT,
Inc.
..............................
130,377
996,080
a
Electrical
Equipment
 — 9.4%
Acuity,
Inc.
.............................
7,068
2,321,061
AMETEK,
Inc.
...........................
53,366
12,899,096
Bloom
Energy
Corp.,
Class
A
(a)
................
62,624
12,888,645
Eaton
Corp.
PLC
.........................
90,671
37,646,599
Emerson
Electric
Co.
......................
131,091
19,640,054
Forgent
Power
Solutions,
Inc.,
Class
A
(a)
.........
38,631
1,285,253
GE
Vernova,
Inc.
.........................
62,781
62,171,396
Generac
Holdings,
Inc.
(a)
....................
13,506
2,662,168
Hubbell,
Inc.,
Class
B
......................
12,339
5,830,794
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2026
iShares
®
U.S.
Industrials
ETF
(Percentages
shown
are
based
on
Net
Assets)
2
Security
Shares
Value
a
Electrical
Equipment
(continued)
nVent
Electric
PLC
........................
37,543
$
5,775,240
Powell
Industries,
Inc.
......................
6,703
1,398,782
Regal
Rexnord
Corp.
......................
15,483
3,177,576
Rockwell
Automation,
Inc.
...................
26,212
12,583,857
Sensata
Technologies
Holding
PLC
............
33,546
1,552,844
Vicor
Corp.
(a)
............................
5,718
1,185,742
183,019,107
a
Electronic
Equipment,
Instruments
&
Components
 — 1.6%
Cognex
Corp.
...........................
39,014
2,545,273
Keysight
Technologies,
Inc.
(a)
.................
39,845
12,713,743
Littelfuse,
Inc.
...........................
5,806
2,567,007
Ralliant
Corp.
...........................
26,265
1,716,943
Teledyne
Technologies,
Inc.
(a)
.................
10,753
7,049,344
Vontier
Corp.
............................
32,531
1,045,221
Zebra
Technologies
Corp.,
Class
A
(a)
............
11,208
3,293,135
30,930,666
a
Financial
Services
 — 15.6%
Affirm
Holdings,
Inc.,
Class
A
(a)
................
65,250
4,666,027
Block,
Inc.,
Class
A
(a)
......................
121,524
9,872,610
Corpay,
Inc.
(a)
...........................
14,905
5,695,350
Euronet
Worldwide,
Inc.
(a)
...................
8,182
583,622
Fidelity
National
Information
Services,
Inc.
........
120,610
5,399,710
Fiserv,
Inc.
(a)
............................
123,895
6,682,896
Global
Payments,
Inc.
.....................
53,678
4,513,246
Jack
Henry
&
Associates,
Inc.
................
16,838
2,593,725
Mastercard,
Inc.,
Class
A
....................
188,481
108,018,461
PayPal
Holdings,
Inc.
......................
208,993
11,956,490
Shift4
Payments,
Inc.,
Class
A
(a)(b)
..............
13,019
690,007
Visa,
Inc.,
Class
A
........................
385,268
141,058,172
Western
Union
Co.
(The)
...................
65,068
413,832
WEX,
Inc.
(a)
.............................
7,935
1,483,528
303,627,676
a
Ground
Transportation
 — 5.7%
CSX
Corp.
.............................
433,318
21,839,227
Fedex
Freight
Holding
Co.,
Inc.
(a)
..............
25,533
3,588,152
JB
Hunt
Transport
Services,
Inc.
..............
17,525
4,762,419
Knight-Swift
Transportation
Holdings,
Inc.,
Class
A
..
36,941
2,568,508
Landstar
System,
Inc.
......................
7,832
1,368,799
Norfolk
Southern
Corp.
.....................
52,453
17,596,932
Old
Dominion
Freight
Line,
Inc.
...............
43,563
9,241,455
Ryder
System,
Inc.
........................
8,787
2,253,163
Saia,
Inc.
(a)
.............................
6,235
2,167,473
Schneider
National,
Inc.,
Class
B
..............
11,942
426,807
Union
Pacific
Corp.
.......................
138,476
40,452,994
XPO,
Inc.
(a)
.............................
26,551
5,335,954
111,601,883
a
Household
Durables
 — 0.1%
Mohawk
Industries,
Inc.
(a)
...................
11,621
1,430,545
a
Industrial
Conglomerates
 — 2.2%
3M
Co.
................................
121,866
21,482,539
DuPont
de
Nemours,
Inc.
...................
31,858
4,364,546
Honeywell
International,
Inc.
.................
74,045
17,996,637
43,843,722
a
IT
Services
 — 1.2%
Accenture
PLC,
Class
A
....................
143,233
23,765,219
a
Leisure
Products
 — 0.1%
Brunswick
Corp.
.........................
14,996
1,184,684
a
Security
Shares
Value
a
Life
Sciences
Tools
&
Services
 — 0.3%
Mettler-Toledo
International,
Inc.
(a)
.............
4,710
$
6,670,773
a
Machinery
 — 15.5%
AGCO
Corp.
............................
14,047
1,435,042
Allison
Transmission
Holdings,
Inc.
.............
19,371
2,218,754
Caterpillar,
Inc.
..........................
105,989
86,360,897
CNH
Industrial
N.V.
.......................
203,916
2,090,139
Crane
Co.
..............................
11,572
2,470,159
Cummins,
Inc.
...........................
32,224
20,436,461
Deere
&
Co.
............................
57,605
34,140,755
Donaldson
Co.,
Inc.
.......................
26,986
2,543,161
Dover
Corp.
............................
31,125
6,368,798
Esab
Corp.
.............................
13,253
1,146,782
Flowserve
Corp.
.........................
29,826
2,266,478
Fortive
Corp.
............................
70,949
4,200,890
Gates
Industrial
Corp.
Ltd.
(a)
..................
57,996
1,622,728
Graco,
Inc.
.............................
38,557
3,060,655
IDEX
Corp.
.............................
17,275
3,981,024
Illinois
Tool
Works,
Inc.
.....................
67,115
19,258,649
Ingersoll
Rand,
Inc.
.......................
91,393
7,620,348
ITT,
Inc.
...............................
20,803
4,076,972
Lincoln
Electric
Holdings,
Inc.
................
12,432
3,248,606
Middleby
Corp.
(The)
(a)
.....................
10,053
1,342,880
Midera
Food
Processing,
Inc.
(a)
...............
10,053
482,041
Nordson
Corp.
...........................
12,311
3,665,970
Oshkosh
Corp.
..........................
14,597
2,078,759
Otis
Worldwide
Corp.
......................
89,482
6,438,230
PACCAR,
Inc.
...........................
120,534
15,992,451
Parker-Hannifin
Corp.
......................
29,453
28,761,738
Pentair
PLC
............................
37,444
2,450,335
Snap-on,
Inc.
...........................
11,819
4,850,636
SPX
Technologies,
Inc.
(a)
....................
11,376
2,498,397
Stanley
Black
&
Decker,
Inc.
.................
36,264
3,429,849
Toro
Co.
(The)
...........................
22,375
2,055,591
Watts
Water
Technologies,
Inc.,
Class
A
..........
6,328
2,188,159
Westinghouse
Air
Brake
Technologies
Corp.
.......
39,371
11,451,449
Xylem,
Inc.
.............................
55,255
6,463,177
302,696,960
a
Marine
Transportation
 — 0.1%
Kirby
Corp.
(a)
............................
12,500
1,639,250
a
Professional
Services
 — 3.2%
Amentum
Holdings,
Inc.
(a)
...................
35,403
785,947
Automatic
Data
Processing,
Inc.
...............
93,538
24,924,135
Booz
Allen
Hamilton
Holding
Corp.,
Class
A
.......
28,079
1,957,668
Equifax,
Inc.
............................
27,631
4,769,663
ExlService
Holdings,
Inc.
(a)
..................
34,350
1,165,496
FTI
Consulting,
Inc.
(a)
......................
6,887
1,097,650
Genpact
Ltd.
............................
36,015
1,266,648
Jacobs
Solutions,
Inc.
......................
27,286
3,681,700
Paychex,
Inc.
...........................
75,144
8,779,825
Paylocity
Holding
Corp.
(a)
...................
10,234
1,411,217
Planet
Labs
PBC
(a)
........................
64,752
1,326,121
Robert
Half,
Inc.
.........................
22,888
865,166
TransUnion
.............................
44,960
3,534,755
UL
Solutions,
Inc.,
Class
A
...................
18,037
1,652,911
Verisk
Analytics,
Inc.,
Class
A
.................
30,590
5,960,462
63,179,364
a
Semiconductors
&
Semiconductor
Equipment
 — 0.2%
MKS,
Inc.
..............................
15,627
4,648,251
a
iShares
®
U.S.
Industrials
ETF
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2026
(Percentages
shown
are
based
on
Net
Assets)
3
Schedule
of
Investments
Derivative
Financial
Instruments
Outstanding
as
of
Period
End
Security
Shares
Value
a
Software
 — 0.6%
Aurora
Innovation,
Inc.,
Class
A
(a)(b)
.............
280,491
$
1,809,167
BILL
Holdings,
Inc.
(a)
.......................
20,130
908,467
Fair
Isaac
Corp.
(a)
.........................
5,273
5,921,421
Trimble,
Inc.
(a)
...........................
54,053
3,058,319
11,697,374
a
Trading
Companies
&
Distributors
 — 3.2%
Applied
Industrial
Technologies,
Inc.
............
8,588
2,964,663
Core
&
Main,
Inc.,
Class
A
(a)
..................
43,885
1,929,623
Ferguson
Enterprises,
Inc.
...................
44,645
10,461,663
MSC
Industrial
Direct
Co.,
Inc.,
Class
A
..........
10,532
1,299,649
QXO,
Inc.
(a)(b)
............................
223,719
2,975,463
Sunbelt
Rentals
Holdings,
Inc.
................
95,536
6,870,949
United
Rentals,
Inc.
.......................
14,564
15,718,343
Watsco,
Inc.
............................
8,152
2,521,414
WESCO
International,
Inc.
...................
11,167
3,835,753
WW
Grainger,
Inc.
........................
10,141
14,017,093
62,594,613
a
Total
Long-Term
Investments — 99.9%
(Cost:
$1,904,008,169)
...............................
1,948,085,910
Security
Shares
Value
a
Short-Term
Securities
Money
Market
Funds
 — 
0.3%
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares,
3.81%
(c)(d)(e)
......................
4,088,315
$
4,089,542
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares,
3.65%
(c)(d)
............................
2,259,862
2,259,862
a
Total
Short-Term
Securities — 0.3%
(Cost:
$6,348,235)
..................................
6,349,404
Total
Investments
—
100.2%
(Cost:
$1,910,356,404)
...............................
1,954,435,314
Liabilities
in
Excess
of
Other
Assets
—
(0.2)%
...............
(3,416,661)
Net
Assets
—
100.0%
.................................
$
1,951,018,653
(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
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
.
$
13,857,248
‌
$
—
‌
$
(9,766,695
)
(a)
$
(748
)
$
(263
)
$
4,089,542
‌
4,088,315
‌
$
10,458
(b)
$
—
‌
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
2,376,358
‌
—
‌
(116,496
)
(a)
—
‌
—
‌
2,259,862
‌
2,259,862
‌
21,243
‌
—
‌
$
—
‌
$
(748
)
$
(263
)
$
6,349,404
‌
$
31,701
‌
$
—
‌
(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
Industrial
Select
Sector
Index
........................................................
16
09/18/26
$
2,909
$
(28,005
)
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2026
iShares
®
U.S.
Industrials
ETF
4
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. 
Level
1
Level
2
Level
3
Total
Assets
Investments
Long-Term
Investments
Common
Stocks
..........................................
$
1,948,085,910
‌
$
—
‌
$
—
‌
$
1,948,085,910
‌
Short-Term
Securities
Money
Market
Funds
.......................................
6,349,404
‌
—
‌
—
‌
6,349,404
‌
$
1,954,435,314
‌
$
—
‌
$
—
‌
$
1,954,435,314
‌
Derivative
Financial
Instruments
(a)
Liabilities
Equity
Contracts
............................................
$
(28,005
)
$
—
‌
$
—
‌
$
(28,005
)
(a)
Derivative
financial
instruments
are
futures
contracts.
Futures
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.