NPORT-EX 2 252048BR123125.htm EDGAR HTML
Schedule of Investments (unaudited) 
December 31, 2025
iShares® Core S&P Mid-Cap ETF
(Percentages shown are based on Net Assets)
 
Security
 
 
Shares
Value
Common Stocks
Aerospace & Defense — 3.5%
AeroVironment, Inc.(a)(b)
1,016,158
$  245,798,459
ATI, Inc.(a)(b)
4,339,398
497,989,314
BWX Technologies, Inc.(b)
2,920,105
504,710,948
Carpenter Technology Corp.(b)
1,591,170
500,963,963
Curtiss-Wright Corp.
1,177,761
649,264,306
Hexcel Corp.(b)
2,542,164
187,865,920
Kratos Defense & Security Solutions, Inc.(a)(b)
5,392,661
409,356,896
Woodward, Inc.
1,915,008
578,945,219
 
3,574,895,025
Air Freight & Logistics — 0.2%
GXO Logistics, Inc.(a)(b)
3,656,036
192,453,735
Automobile Components — 1.1%
Autoliv, Inc.
2,232,166
264,958,104
BorgWarner, Inc.
6,832,689
307,880,966
Gentex Corp.
6,990,118
162,660,046
Goodyear Tire & Rubber Co. (The)(a)(b)
9,139,737
80,064,096
Lear Corp.
1,656,346
189,817,252
Visteon Corp.(b)
871,490
82,878,699
 
1,088,259,163
Automobiles — 0.2%
Harley-Davidson, Inc.
3,777,724
77,405,565
Thor Industries, Inc.
1,680,524
172,539,399
 
249,944,964
Banks — 6.5%
Associated Banc-Corp
5,218,155
134,419,673
Bank OZK
3,385,645
155,807,383
Cadence Bank
4,814,594
206,257,207
Columbia Banking System, Inc.
9,553,702
267,025,971
Comerica, Inc.
4,079,994
354,673,879
Commerce Bancshares, Inc.
4,129,745
216,150,853
Cullen/Frost Bankers, Inc.
2,042,235
258,608,218
East West Bancorp, Inc.
4,394,367
493,882,907
First Financial Bankshares, Inc.
4,166,930
124,466,199
First Horizon Corp.
15,726,656
375,867,078
Flagstar Bank N.A.(b)
9,571,641
120,506,960
FNB Corp.
11,437,289
195,577,642
Glacier Bancorp, Inc.
4,107,707
180,944,493
Hancock Whitney Corp.
2,669,729
170,008,343
Home BancShares, Inc.
5,835,691
162,115,496
International Bancshares Corp.
1,729,351
114,898,081
Old National Bancorp
11,108,085
247,821,376
Pinnacle Financial Partners, Inc.
2,459,483
234,659,273
Prosperity Bancshares, Inc.
3,033,904
209,673,106
Southstate Bank Corp.
3,210,353
302,126,321
Synovus Financial Corp.
4,433,063
221,874,803
Texas Capital Bancshares, Inc.(a)
1,456,793
131,898,038
UMB Financial Corp.
2,280,369
262,333,650
United Bankshares, Inc.
4,472,893
171,759,091
Valley National Bancorp
15,313,388
178,860,372
Webster Financial Corp.
5,151,479
324,234,088
Western Alliance Bancorp
3,296,801
277,162,060
Wintrust Financial Corp.
2,139,004
299,075,539
Zions Bancorp N.A.
4,715,543
276,047,887
 
6,668,735,987
Beverages — 0.5%
Boston Beer Co., Inc. (The), Class A,
NVS(a)(b)
244,745
47,757,092
Security
 
 
Shares
Value
Beverages (continued)
Celsius Holdings, Inc.(a)(b)
5,104,724
$  233,490,076
Coca-Cola Consolidated, Inc.
1,806,698
276,966,803
 
558,213,971
Biotechnology — 2.6%
BioMarin Pharmaceutical, Inc.(a)
6,134,556
364,576,663
Cytokinetics, Inc.(a)(b)
3,905,058
248,127,385
Exelixis, Inc.(a)(b)
8,561,456
375,248,616
Halozyme Therapeutics, Inc.(a)(b)
3,755,954
252,775,704
Neurocrine Biosciences, Inc.(a)
3,184,549
451,664,585
Roivant Sciences Ltd.(a)(b)
13,994,455
303,679,674
United Therapeutics Corp.(a)(b)
1,375,029
669,982,880
 
2,666,055,507
Broadline Retail — 0.4%
Macy’s, Inc.
8,574,260
189,062,433
Ollie’s Bargain Outlet Holdings, Inc.(a)(b)
1,958,100
214,627,341
 
403,689,774
Building Products — 1.9%
AAON, Inc.(b)
2,160,533
164,740,641
Advanced Drainage Systems, Inc.
2,285,040
330,942,343
Carlisle Cos., Inc.
1,331,423
425,868,961
Fortune Brands Innovations, Inc.
3,837,129
191,933,193
Owens Corning
2,625,166
293,782,327
Simpson Manufacturing Co., Inc.
1,324,182
213,815,667
Trex Co., Inc.(a)
3,422,421
120,058,529
UFP Industries, Inc.
1,860,072
169,359,556
 
1,910,501,217
Capital Markets — 3.0%
Affiliated Managers Group, Inc.(b)
898,421
258,996,806
Carlyle Group, Inc. (The)
8,288,075
489,908,113
Evercore, Inc., Class A
1,235,354
420,329,199
Federated Hermes, Inc., Class B, NVS
2,362,989
123,040,837
Hamilton Lane, Inc., Class A
1,305,970
175,404,831
Houlihan Lokey, Inc., Class A
1,741,163
303,293,183
Janus Henderson Group PLC
3,946,264
187,723,778
Jefferies Financial Group, Inc.
5,270,746
326,628,130
Morningstar, Inc.
761,743
165,534,371
SEI Investments Co.
2,972,072
243,769,345
Stifel Financial Corp.
3,252,317
407,255,135
 
3,101,883,728
Chemicals — 1.3%
Ashland, Inc.
1,457,212
85,494,628
Avient Corp.
2,924,473
91,360,537
Axalta Coating Systems Ltd.(a)(b)
6,813,894
220,156,915
Cabot Corp.
1,697,526
112,512,023
NewMarket Corp.
248,986
171,118,118
Olin Corp.
3,637,100
75,760,793
RPM International, Inc.
4,095,218
425,902,672
Scotts Miracle-Gro Co. (The)
1,419,996
82,856,767
Westlake Corp.
1,065,192
78,760,296
 
1,343,922,749
Commercial Services & Supplies — 1.6%
Brink’s Co. (The)
1,326,383
154,828,687
Clean Harbors, Inc.(a)(b)
1,604,195
376,151,644
MSA Safety, Inc.
1,175,314
188,214,784
RB Global, Inc.(b)
5,930,855
610,107,054
Tetra Tech, Inc.
8,349,489
280,041,861
 
1,609,344,030
1
Schedule of Investments (unaudited) (continued)
December 31, 2025
iShares® Core S&P Mid-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
 
Shares
Value
Communications Equipment — 1.8%
Ciena Corp.(a)(b)
4,505,213
$  1,053,634,164
Lumentum Holdings, Inc.(a)(b)
2,264,493
834,669,475
 
1,888,303,639
Construction & Engineering — 2.3%
AECOM
4,230,211
403,266,015
API Group Corp.(a)(b)
11,822,510
452,329,233
Dycom Industries, Inc.(a)
924,777
312,482,148
Fluor Corp.(a)(b)
5,147,771
204,006,165
MasTec, Inc.(a)(b)
1,959,058
425,840,437
Sterling Infrastructure, Inc.(a)(b)
981,157
300,459,708
Valmont Industries, Inc.
629,192
253,136,525
 
2,351,520,231
Construction Materials — 0.3%
Eagle Materials, Inc.(b)
1,024,078
211,656,441
Knife River Corp.(a)(b)
1,808,397
127,220,729
 
338,877,170
Consumer Finance — 0.8%
Ally Financial, Inc.
8,953,449
405,501,705
FirstCash Holdings, Inc.(b)
1,240,351
197,687,142
SLM Corp.
6,483,161
175,434,337
 
778,623,184
Consumer Staples Distribution & Retail — 2.7%
Albertsons Cos., Inc., Class A
12,631,892
216,889,586
BJ’s Wholesale Club Holdings, Inc.(a)(b)
4,207,153
378,769,984
Casey’s General Stores, Inc.(b)
1,187,375
656,274,036
Maplebear, Inc.(a)(b)
5,867,730
263,930,495
Performance Food Group Co.(a)(b)
5,008,439
450,358,835
Sprouts Farmers Market, Inc.(a)(b)
3,109,883
247,764,379
U.S. Foods Holding Corp.(a)(b)
7,119,455
536,237,351
 
2,750,224,666
Containers & Packaging — 1.0%
AptarGroup, Inc.
2,095,800
255,603,768
Crown Holdings, Inc.
3,640,829
374,896,162
Graphic Packaging Holding Co.
9,420,291
141,869,583
Greif, Inc., Class A, NVS
835,852
56,587,180
Silgan Holdings, Inc.
2,798,268
112,966,079
Sonoco Products Co.
3,148,223
137,388,452
 
1,079,311,224
Diversified Consumer Services — 1.0%
Duolingo, Inc., Class A(a)(b)
1,278,008
224,290,404
Graham Holdings Co., Class B
108,510
119,209,086
Grand Canyon Education, Inc.(a)(b)
881,896
146,668,124
H&R Block, Inc.
4,036,768
175,922,349
Service Corp. International
4,477,262
349,092,118
 
1,015,182,081
Diversified REITs — 0.4%
WP Carey, Inc.
6,999,302
450,475,077
Diversified Telecommunication Services — 0.3%
Frontier Communications Parent, Inc.(a)
7,989,009
304,141,573
Electric Utilities — 0.8%
IDACORP, Inc.
1,725,518
218,381,558
OGE Energy Corp.
6,430,579
274,585,723
Portland General Electric Co.
3,591,688
172,365,107
TXNM Energy, Inc.
3,130,255
184,309,415
 
849,641,803
Electrical Equipment — 1.9%
Acuity, Inc.
971,356
349,727,014
EnerSys(b)
1,178,492
172,943,701
Security
 
 
Shares
Value
Electrical Equipment (continued)
Nextpower, Inc., Class A(a)(b)
4,739,378
$  412,847,218
nVent Electric PLC
5,153,712
525,524,013
Regal Rexnord Corp.
2,120,433
297,539,158
Sensata Technologies Holding PLC
4,650,583
154,817,908
 
1,913,399,012
Electronic Equipment, Instruments & Components — 3.7%
Arrow Electronics, Inc.(a)
1,644,876
181,232,438
Avnet, Inc.
2,595,518
124,792,505
Belden, Inc.(b)
1,254,456
146,206,847
Cognex Corp.
5,352,234
192,573,379
Coherent Corp.(a)
5,019,388
926,428,443
Crane NXT Co.
1,577,258
74,241,534
Fabrinet(a)(b)
1,144,292
520,973,262
Flex Ltd.(a)(b)
11,809,451
713,527,029
IPG Photonics Corp.(a)(b)
807,243
57,798,599
Littelfuse, Inc.
795,366
201,163,969
Novanta, Inc.(a)(b)
1,141,894
135,873,967
TD SYNNEX Corp.
2,418,995
363,405,619
Vontier Corp.(b)
4,632,960
172,253,453
 
3,810,471,044
Energy Equipment & Services — 1.0%
NOV, Inc.
11,647,173
182,045,314
TechnipFMC PLC(b)
12,918,178
575,634,011
Valaris Ltd.(a)(b)
2,064,072
104,029,229
Weatherford International PLC
2,290,418
179,248,113
 
1,040,956,667
Entertainment — 0.1%
Warner Music Group Corp., Class A
4,656,486
142,814,426
Financial Services — 1.4%
Equitable Holdings, Inc.
7,942,941
378,481,139
Essent Group Ltd.
3,086,991
200,685,285
Euronet Worldwide, Inc.(a)(b)
1,250,221
95,154,320
MGIC Investment Corp.
7,145,754
208,798,932
Shift4 Payments, Inc., Class A(a)(b)
2,157,953
135,886,300
Voya Financial, Inc.
3,039,436
226,407,588
WEX, Inc.(a)(b)
1,095,153
163,155,894
 
1,408,569,458
Food Products — 0.8%
Darling Ingredients, Inc.(a)(b)
5,051,097
181,839,492
Flowers Foods, Inc.
6,744,846
73,383,924
Ingredion, Inc.
2,029,084
223,726,802
Marzetti Co. (The)
648,893
106,690,987
Pilgrim’s Pride Corp.
1,360,951
53,063,479
Post Holdings, Inc.(a)(b)
1,525,914
151,141,782
 
789,846,466
Gas Utilities — 1.1%
National Fuel Gas Co.
2,886,157
231,065,729
New Jersey Resources Corp.
3,208,310
147,967,257
ONE Gas, Inc.
1,915,391
147,963,955
Southwest Gas Holdings, Inc.
2,051,862
164,189,997
Spire, Inc.
1,884,365
155,836,986
UGI Corp.
6,864,500
256,938,235
 
1,103,962,159
Ground Transportation — 1.5%
Avis Budget Group, Inc.(a)(b)
539,584
69,239,419
Knight-Swift Transportation Holdings, Inc.(b)
5,184,981
271,070,807
Landstar System, Inc.
1,096,440
157,558,428
Ryder System, Inc.
1,289,628
246,821,903
2
Schedule of Investments (unaudited) (continued)
December 31, 2025
iShares® Core S&P Mid-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
 
Shares
Value
Ground Transportation (continued)
Saia, Inc.(a)(b)
850,940
$  277,848,929
XPO, Inc.(a)(b)
3,749,162
509,548,607
 
1,532,088,093
Health Care Equipment & Supplies — 1.4%
DENTSPLY SIRONA, Inc.
6,373,519
72,849,322
Envista Holdings Corp.(a)(b)
5,246,042
113,891,572
Globus Medical, Inc., Class A(a)(b)
3,558,332
310,677,967
Haemonetics Corp.(a)(b)
1,493,631
119,714,525
Lantheus Holdings, Inc.(a)(b)
2,116,584
140,858,665
LivaNova PLC(a)(b)
1,742,016
107,186,244
Masimo Corp.(a)(b)
1,458,036
189,632,162
Penumbra, Inc.(a)
1,250,527
388,801,350
 
1,443,611,807
Health Care Providers & Services — 2.0%
Chemed Corp.
452,404
193,565,575
Encompass Health Corp.
3,213,576
341,088,957
Ensign Group, Inc. (The)(b)
1,837,041
320,012,542
HealthEquity, Inc.(a)(b)
2,751,770
252,089,650
Hims & Hers Health, Inc., Class A(a)(b)
6,653,161
216,028,138
Option Care Health, Inc.(a)(b)
5,067,696
161,456,794
Tenet Healthcare Corp.(a)(b)
2,806,547
557,717,020
 
2,041,958,676
Health Care REITs — 0.7%
Healthcare Realty Trust, Inc.
11,228,710
190,326,634
Omega Healthcare Investors, Inc.
9,437,093
418,440,704
Sabra Health Care REIT, Inc.
7,959,904
150,760,582
 
759,527,920
Health Care Technology — 0.2%
Doximity, Inc., Class A(a)
4,387,604
194,283,105
Hotel & Resort REITs — 0.1%
Park Hotels & Resorts, Inc.
6,384,595
66,782,864
Hotels, Restaurants & Leisure — 2.5%
Aramark
8,395,239
309,448,510
Boyd Gaming Corp.
1,845,692
157,326,786
Cava Group, Inc.(a)(b)
3,185,352
186,948,309
Choice Hotels International, Inc.(b)
660,125
62,883,508
Churchill Downs, Inc.(b)
2,115,730
240,727,759
Hilton Grand Vacations, Inc.(a)(b)
1,914,730
85,684,167
Hyatt Hotels Corp., Class A(b)
1,335,657
214,132,530
Planet Fitness, Inc., Class A(a)(b)
2,650,396
287,488,454
Texas Roadhouse, Inc.
2,112,154
350,617,564
Travel + Leisure Co.
2,053,244
144,815,299
Vail Resorts, Inc.
1,147,732
152,418,810
Wingstop, Inc.(b)
887,512
211,662,737
Wyndham Hotels & Resorts, Inc.
2,412,634
182,298,625
 
2,586,453,058
Household Durables — 1.8%
KB Home
2,066,532
116,573,070
Somnigroup International, Inc.
6,703,380
598,477,767
Taylor Morrison Home Corp., Class A(a)
3,120,638
183,711,959
Toll Brothers, Inc.
3,078,392
416,260,166
TopBuild Corp.(a)(b)
891,467
371,911,118
Whirlpool Corp.
1,792,831
129,334,828
 
1,816,268,908
Independent Power and Renewable Electricity Producers — 0.7%
Ormat Technologies, Inc.(b)
1,940,569
214,374,657
Talen Energy Corp.(a)(b)
1,458,582
546,734,877
 
761,109,534
Security
 
 
Shares
Value
Industrial REITs — 1.0%
EastGroup Properties, Inc.
1,701,059
$  303,026,650
First Industrial Realty Trust, Inc.
4,229,447
242,220,430
Rexford Industrial Realty, Inc.
7,419,385
287,278,587
STAG Industrial, Inc.
5,964,644
219,260,314
 
1,051,785,981
Insurance — 4.0%
American Financial Group, Inc.
2,210,993
302,198,523
Brighthouse Financial, Inc.(a)(b)
1,828,059
118,439,943
CNO Financial Group, Inc.
3,048,998
129,490,945
F&G Annuities & Life, Inc.
487,767
15,047,612
Fidelity National Financial, Inc., Class A
8,139,881
444,356,104
First American Financial Corp.
3,254,612
199,963,361
Hanover Insurance Group, Inc. (The)
1,136,521
207,721,943
Kemper Corp.
1,872,058
75,893,231
Kinsale Capital Group, Inc.(b)
705,863
276,077,137
Old Republic International Corp.
7,271,082
331,852,183
Primerica, Inc.
1,019,379
263,366,758
Reinsurance Group of America, Inc.
2,098,870
427,036,090
RenaissanceRe Holdings Ltd.
1,472,700
414,064,332
RLI Corp.(b)
2,932,769
187,638,561
Ryan Specialty Holdings, Inc., Class A(b)
3,619,456
186,872,513
Selective Insurance Group, Inc.
1,928,608
161,366,631
Unum Group
4,916,852
381,056,030
 
4,122,441,897
Interactive Media & Services — 0.6%
Pinterest, Inc., Class A(a)(b)
19,020,888
492,450,790
ZoomInfo Technologies, Inc., Class A(a)(b)
8,742,573
88,911,968
 
581,362,758
IT Services — 1.4%
ASGN, Inc.(a)(b)
1,365,370
65,769,873
Kyndryl Holdings, Inc.(a)(b)
7,299,166
193,865,849
Okta, Inc., Class A(a)(b)
5,380,436
465,246,301
Twilio, Inc., Class A(a)
4,841,811
688,699,196
 
1,413,581,219
Leisure Products — 0.5%
Brunswick Corp.
2,076,268
154,142,136
Mattel, Inc.(a)(b)
9,925,484
196,921,603
Polaris, Inc.
1,704,796
107,828,347
YETI Holdings, Inc.(a)(b)
2,482,356
109,645,664
 
568,537,750
Life Sciences Tools & Services — 2.0%
Avantor, Inc.(a)(b)
21,776,622
249,560,088
Bio-Rad Laboratories, Inc., Class A(a)(b)
580,637
175,927,205
Bruker Corp.(b)
3,542,594
166,891,603
Illumina, Inc.(a)(b)
4,879,684
640,019,354
Medpace Holdings, Inc.(a)(b)
710,593
399,104,559
Repligen Corp.(a)(b)
1,689,497
276,840,978
Sotera Health Co.(a)
6,617,185
116,727,143
 
2,025,070,930
Machinery — 5.5%
AGCO Corp.
1,978,103
206,355,705
Chart Industries, Inc.(a)(b)
1,411,440
291,081,271
CNH Industrial NV
28,264,519
260,598,865
Crane Co.(b)
1,563,648
288,383,601
Donaldson Co., Inc.
3,699,544
328,001,571
Esab Corp.
1,822,650
203,626,458
Flowserve Corp.
4,059,995
281,682,453
Graco, Inc.
5,295,308
434,056,397
ITT, Inc.
2,714,816
471,047,724
Lincoln Electric Holdings, Inc.
1,757,503
421,168,019
3
Schedule of Investments (unaudited) (continued)
December 31, 2025
iShares® Core S&P Mid-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
 
Shares
Value
Machinery (continued)
Middleby Corp. (The)(a)(b)
1,480,119
$  220,049,292
Mueller Industries, Inc.
3,545,691
407,045,327
Oshkosh Corp.
2,020,281
253,807,902
RBC Bearings, Inc.(a)
1,005,399
450,851,073
SPX Technologies, Inc.(a)(b)
1,591,712
318,437,903
Terex Corp.
2,093,068
111,727,970
Timken Co. (The)
2,023,867
170,267,931
Toro Co. (The)
3,125,649
246,051,089
Watts Water Technologies, Inc., Class A
875,350
241,614,107
 
5,605,854,658
Marine Transportation — 0.2%
Kirby Corp.(a)(b)
1,730,827
190,702,519
Media — 1.0%
EchoStar Corp., Class A(a)(b)
4,299,448
467,349,998
New York Times Co. (The), Class A
5,155,548
357,898,142
Nexstar Media Group, Inc., Class A
910,181
184,812,252
 
1,010,060,392
Metals & Mining — 2.5%
Alcoa Corp.
8,271,091
439,525,776
Cleveland-Cliffs, Inc.(a)(b)
18,195,993
241,642,787
Commercial Metals Co.
3,544,225
245,331,254
Hecla Mining Co.
21,398,077
410,629,098
MP Materials Corp., Class A(a)(b)
4,302,021
217,338,101
Reliance, Inc.
1,669,729
482,334,616
Royal Gold, Inc.
2,587,398
575,152,701
 
2,611,954,333
Mortgage Real Estate Investment Trusts (REITs) — 0.7%
Annaly Capital Management, Inc.
21,815,448
487,793,417
Starwood Property Trust, Inc.
11,118,381
200,242,042
 
688,035,459
Multi-Utilities — 0.3%
Black Hills Corp.
2,409,771
167,286,303
Northwestern Energy Group, Inc.
1,959,592
126,472,067
 
293,758,370
Office REITs — 0.5%
COPT Defense Properties
3,608,164
100,306,959
Cousins Properties, Inc.
5,361,190
138,211,478
Kilroy Realty Corp.
3,473,623
129,809,292
Vornado Realty Trust
5,151,010
171,425,613
 
539,753,342
Oil, Gas & Consumable Fuels — 2.9%
Antero Midstream Corp.
10,646,310
189,397,855
Antero Resources Corp.(a)(b)
9,357,974
322,475,784
Chord Energy Corp.
1,815,604
168,306,491
Civitas Resources, Inc.
2,445,682
66,253,525
CNX Resources Corp.(a)(b)
4,304,636
158,281,466
DT Midstream, Inc.
3,246,713
388,566,612
HF Sinclair Corp.
4,993,889
230,118,405
Matador Resources Co.
3,729,218
158,268,012
Murphy Oil Corp.
4,282,354
133,823,563
Ovintiv, Inc.
8,086,719
316,918,518
PBF Energy, Inc., Class A
2,627,058
71,245,813
Permian Resources Corp., Class A
22,171,604
311,067,604
Range Resources Corp.(b)
7,565,236
266,750,221
Viper Energy, Inc., Class A
5,379,126
207,795,637
 
2,989,269,506
Paper & Forest Products — 0.2%
Louisiana-Pacific Corp.
2,023,322
163,403,485
Security
 
 
Shares
Value
Passenger Airlines — 0.5%
Alaska Air Group, Inc.(a)(b)
3,704,580
$  186,340,374
American Airlines Group, Inc.(a)
21,082,627
323,196,672
 
509,537,046
Personal Care Products — 0.3%
BellRing Brands, Inc.(a)
4,019,157
107,432,067
Coty, Inc., Class A(a)(b)
11,691,807
36,010,765
elf Beauty, Inc.(a)(b)
1,902,966
144,701,535
 
288,144,367
Pharmaceuticals — 0.7%
Elanco Animal Health, Inc.(a)(b)
15,869,409
359,124,726
Jazz Pharmaceuticals PLC(a)(b)
1,940,766
329,930,220
 
689,054,946
Professional Services — 2.9%
Booz Allen Hamilton Holding Corp., Class A
3,874,267
326,833,164
CACI International, Inc., Class A(a)(b)
705,229
375,753,063
Concentrix Corp.
1,413,297
58,764,889
ExlService Holdings, Inc.(a)
5,068,709
215,116,010
Exponent, Inc.
1,591,630
110,554,620
FTI Consulting, Inc.(a)(b)
966,302
165,073,371
Genpact Ltd.
5,121,297
239,574,274
KBR, Inc.
4,054,369
162,985,634
Maximus, Inc.
1,799,775
155,356,578
Parsons Corp.(a)(b)
1,698,613
104,974,283
Paylocity Holding Corp.(a)
1,406,810
214,538,525
Science Applications International Corp.
1,469,055
147,875,076
TransUnion(b)
6,202,604
531,873,293
UL Solutions, Inc., Class A(b)
2,403,060
189,505,312
 
2,998,778,092
Real Estate Management & Development — 0.5%
Jones Lang LaSalle, Inc.(a)(b)
1,507,144
507,108,742
Residential REITs — 0.8%
American Homes 4 Rent, Class A
10,410,032
334,162,027
Equity LifeStyle Properties, Inc.
6,189,329
375,135,231
Independence Realty Trust, Inc.
7,624,792
133,281,364
 
842,578,622
Retail REITs — 0.9%
Agree Realty Corp.
3,663,556
263,885,939
Brixmor Property Group, Inc.
9,776,599
256,342,426
Kite Realty Group Trust
6,912,489
165,692,361
NNN REIT, Inc.
6,065,907
240,391,894
 
926,312,620
Semiconductors & Semiconductor Equipment — 2.7%
Allegro MicroSystems, Inc.(a)(b)
3,961,426
104,502,418
Amkor Technology, Inc.
3,629,618
143,297,319
Cirrus Logic, Inc.(a)(b)
1,629,706
193,120,161
Entegris, Inc.(b)
4,841,986
407,937,320
Lattice Semiconductor Corp.(a)(b)
4,368,848
321,459,836
MACOM Technology Solutions Holdings,
Inc.(a)(b)
2,045,074
350,280,275
MKS, Inc.(b)
2,145,321
342,822,296
Onto Innovation, Inc.(a)(b)
1,565,356
247,107,098
Rambus, Inc.(a)(b)
3,438,266
315,942,263
Silicon Laboratories, Inc.(a)
1,048,609
137,053,196
Synaptics, Inc.(a)(b)
1,244,352
92,106,935
Universal Display Corp.
1,411,713
164,859,844
 
2,820,488,961
Software — 3.7%
Appfolio, Inc., Class A(a)(b)
736,943
171,449,789
Bentley Systems, Inc., Class B(b)
4,756,686
181,538,921
4
Schedule of Investments (unaudited) (continued)
December 31, 2025
iShares® Core S&P Mid-Cap ETF
(Percentages shown are based on Net Assets)
Security
 
 
Shares
Value
Software (continued)
BILL Holdings, Inc.(a)(b)
2,845,822
$  155,211,132
Blackbaud, Inc.(a)(b)
1,172,770
74,259,796
Commvault Systems, Inc.(a)(b)
1,407,866
176,490,082
Docusign, Inc.(a)(b)
6,423,109
439,340,656
Dolby Laboratories, Inc., Class A
1,952,597
125,395,779
Dropbox, Inc., Class A(a)(b)
5,568,321
154,799,324
Dynatrace, Inc.(a)(b)
9,629,284
417,333,169
Guidewire Software, Inc.(a)
2,715,013
545,744,763
Manhattan Associates, Inc.(a)(b)
1,924,594
333,551,386
Nutanix, Inc., Class A(a)(b)
8,648,670
447,049,752
Pegasystems, Inc.(b)
2,926,469
174,768,729
Qualys, Inc.(a)(b)
1,144,746
152,136,743
UiPath, Inc., Class A(a)
13,474,643
220,849,399
 
3,769,919,420
Specialized REITs — 1.4%
CubeSmart
7,283,268
262,561,811
EPR Properties
2,429,610
121,237,539
Gaming & Leisure Properties, Inc.
9,037,181
403,871,619
Lamar Advertising Co., Class A
2,774,322
351,173,679
National Storage Affiliates Trust
2,259,939
63,752,879
PotlatchDeltic Corp.
2,267,425
90,198,167
Rayonier, Inc.
4,736,402
102,543,103
 
1,395,338,797
Specialty Retail — 3.4%
Abercrombie & Fitch Co., Class A(a)
1,503,077
189,192,302
AutoNation, Inc.(a)(b)
873,467
180,353,466
Bath & Body Works, Inc.
6,580,698
132,140,416
Burlington Stores, Inc.(a)(b)
1,988,885
574,489,432
Chewy, Inc., Class A(a)(b)
7,188,275
237,572,489
Dick’s Sporting Goods, Inc.
2,111,374
417,988,711
Five Below, Inc.(a)(b)
1,761,299
331,758,280
Floor & Decor Holdings, Inc., Class A(a)(b)
3,441,509
209,553,483
GameStop Corp., Class A(a)(b)
13,161,399
264,280,892
Gap, Inc. (The)
7,227,717
185,029,555
Lithia Motors, Inc., Class A(b)
774,528
257,398,890
Murphy U.S.A., Inc.(b)
544,516
219,723,096
Penske Automotive Group, Inc.
589,649
93,335,540
RH(a)(b)
490,942
87,952,259
Valvoline, Inc.(a)(b)
4,056,139
117,871,400
 
3,498,640,211
Technology Hardware, Storage & Peripherals — 0.6%
Pure Storage, Inc., Class A(a)(b)
9,970,361
668,113,891
Security
 
 
Shares
Value
Textiles, Apparel & Luxury Goods — 0.6%
Capri Holdings Ltd.(a)(b)
3,805,309
$  92,849,540
Columbia Sportswear Co.
809,891
44,616,895
Crocs, Inc.(a)(b)
1,657,048
141,710,745
PVH Corp.(b)
1,538,704
103,123,942
VF Corp.
10,480,829
189,493,388
 
571,794,510
Trading Companies & Distributors — 1.7%
Applied Industrial Technologies, Inc.
1,204,691
309,328,508
Core & Main, Inc., Class A(a)(b)
6,090,450
316,520,686
GATX Corp.
1,140,241
193,384,874
MSC Industrial Direct Co., Inc., Class A
1,461,146
122,882,379
Watsco, Inc.
1,115,448
375,850,203
WESCO International, Inc.
1,553,714
380,100,593
 
1,698,067,243
Water Utilities — 0.3%
Essential Utilities, Inc.
9,031,561
346,450,680
Total Long-Term Investments — 99.4%
(Cost: $82,146,687,555)
101,972,204,442
Short-Term Securities
Money Market Funds — 4.7%
BlackRock Cash Funds: Institutional, SL
Agency Shares, 3.89%(c)(d)(e)
4,342,046,238
4,344,217,261
BlackRock Cash Funds: Treasury, SL Agency
Shares, 3.72%(c)(d)
457,791,801
457,791,801
Total Short-Term Securities — 4.7%
(Cost: $4,799,705,240)
4,802,009,062
Total Investments — 104.1%
(Cost: $86,946,392,795)
106,774,213,504
Liabilities in Excess of Other Assets — (4.1)%
(4,252,579,675
)
Net Assets — 100.0%
$  102,521,633,829
 
(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)
December 31, 2025
iShares® Core S&P Mid-Cap ETF
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended December 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
03/31/25
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain
(Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
12/31/25
Shares
Held at
12/31/25
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock Cash
Funds: Institutional, SL Agency
Shares
$  3,933,875,204
 
$  410,184,696
(a)
$  —
$  8,331
$  149,030
$  4,344,217,261
4,342,046,238
$  8,211,988
(b)
$  —
BlackRock Cash Funds: Treasury,
SL Agency Shares
396,535,059
 
61,256,742
(a)
—
—
—
457,791,801
457,791,801
8,178,766
—
 
$  8,331
$  149,030
$  4,802,009,062
$  16,390,754
$  —
 
(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
 
 
S&P Mid 400 E-Mini Index
519
03/20/26
$  172,578
$  (1,780,861
)
Equity Swap Contracts 
Reference Entity
Counterparty
Notional Amount
Termination Date
Spread
Reference Rate
Payment
Frequency
Value/ Unrealized
Appreciation
(Depreciation)
Long Contracts(a)
Cadence Bank
Goldman Sachs Bank USA
USD 
17,148,335
08/19/26
0.40
%
1D FEDL01
Monthly
$  (158,634
)
Cadence Bank
HSBC Bank PLC
 
7,820,965
02/09/28
0.40
%
1D OBFR01
Monthly
252,532
Cadence Bank
JPMorgan Chase Bank N.A.
 
21,998,569
02/09/26
0.40
%
1D OBFR01
Monthly
710,315
Corebridge Financial, Inc.
JPMorgan Chase Bank N.A.
 
272,104,532
02/09/26
0.40
%
1D OBFR01
Monthly
(15,705,028
)
Equitable Holdings, Inc.
Goldman Sachs Bank USA
 
23,899,130
08/18/26
0.40
%
1D FEDL01
Monthly
(321,624
)
Equitable Holdings, Inc.
HSBC Bank PLC
 
29,501,880
02/09/28
0.40
%
1D OBFR01
Monthly
1,031,669
Equitable Holdings, Inc.
JPMorgan Chase Bank N.A.
 
1,275,538
02/09/26
0.40
%
1D OBFR01
Monthly
44,605
Total long positions of equity swaps
(14,146,165
)
Net dividends and financing fees
(454,586
)
Total equity swap contracts including dividends and financing fees
$ (14,600,751
)
 
(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).
6
Schedule of Investments (unaudited) (continued)
December 31, 2025
iShares® Core S&P Mid-Cap ETF
Fair Value Hierarchy as of Period End (continued)
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 
$  101,972,204,442
$  —
$  —
$  101,972,204,442
Short-Term Securities
Money Market Funds
4,802,009,062
—
—
4,802,009,062
 
$  106,774,213,504
$  —
$  —
$  106,774,213,504
Derivative Financial Instruments(a)
Assets
Equity Contracts
$  —
$  2,039,121
$  —
$  2,039,121
Liabilities
Equity Contracts
(1,780,861
)
(16,639,872
)
—
(18,420,733
)
 
$  (1,780,861
)
$  (14,600,751
)
$  —
$  (16,381,612
)
 
(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
7