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        <name>XAU UTILITIES JUN26</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NORTHWESTERN ENERGY GROUP, INC.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Essential Utilities, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Stantec Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>XAE ENERGY JUN26</name>
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        <name>EMCOR GROUP, INC.</name>
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        <name>ASP Isotopes Inc</name>
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        <name>NORFOLK SOUTHERN CORPORATION</name>
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        <name>ECOVYST INC.</name>
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        <name>DTE ENERGY COMPANY</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE ENERGY CO</title>
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          <isin value="US2333311072"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BOISE CASCADE COMPANY</name>
        <lei>549300Z8B8LSRHC7XA55</lei>
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          <isin value="US09739D1000"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LIMBACH HOLDINGS, INC.</name>
        <lei>254900EW8KXT5ZTWQI30</lei>
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          <isin value="US53263P1057"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COMMERCIAL METALS COMPANY</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
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          <isin value="US2017231034"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Spire Inc.</name>
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          <isin value="US84857L1017"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLEVELAND-CLIFFS INC.</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLEVELAND CLIFFS INC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STEEL DYNAMICS, INC.</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MGE ENERGY, INC.</name>
        <lei>N/A</lei>
        <title>MGE ENERGY INC</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY</title>
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          <isin value="US8168511090"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DT MIDSTREAM, INC.</name>
        <lei>N/A</lei>
        <title>DT MIDSTREAM INC</title>
        <cusip>23345M107</cusip>
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          <isin value="US23345M1071"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OWENS CORNING</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTHWEST NATURAL HOLDING COMPANY</name>
        <lei>254900PSJL6ZEC8FR782</lei>
        <title>NORTHWEST NATURAL HOLDING CO</title>
        <cusip>66765N105</cusip>
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          <isin value="US66765N1054"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ONE GAS, INC.</name>
        <lei>549300HXDWI0LATTX840</lei>
        <title>ONE GAS INC</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMERICAN ELECTRIC POWER COMPANY, INC.</name>
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        <name>NUCOR CORPORATION</name>
        <lei>549300GGJCRSI2TIEJ46</lei>
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        <name>BlackRock Funds III: BlackRock Cash Funds: Treasury; SL Agency Shares</name>
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        <title>BLACKROCK CASH FUNDS TREASURY</title>
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      <invstOrSec>
        <name>Olin Corporation</name>
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        <name>AMERICAN WATER WORKS COMPANY, INC.</name>
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        <name>API GROUP CORPORATION</name>
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        <title>API GROUP CORP</title>
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        <name>VULCAN MATERIALS COMPANY</name>
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        <name>RELIANCE, INC.</name>
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        <name>ENTERGY CORPORATION</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>ENTERGY CORP</title>
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        <name>APOGEE ENTERPRISES, INC.</name>
        <lei>549300579S7QW8V4IJ60</lei>
        <title>APOGEE ENTERPRISES INC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <cashCollateralCondition cashCollateralVal="32915104.75000000" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRIMORIS SERVICES CORPORATION</name>
        <lei>549300UF3OLBJ8D5K349</lei>
        <title>PRIMORIS SERVICES CORP</title>
        <cusip>74164F103</cusip>
        <identifiers>
          <isin value="US74164F1030"/>
          <other otherDesc="Internal" value="74164F103"/>
        </identifiers>
        <balance>83027.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11876182.08000000</valUSD>
        <pctVal>0.320993948124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="212700.48000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE GREENBRIER COMPANIES, INC.</name>
        <lei>5493001GAGGFR30BP390</lei>
        <title>GREENBRIER COS INC THE</title>
        <cusip>393657101</cusip>
        <identifiers>
          <isin value="US3936571013"/>
          <other otherDesc="Internal" value="393657101"/>
        </identifiers>
        <balance>46482.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2447277.30000000</valUSD>
        <pctVal>0.066145937927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXELON CORPORATION</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXELON CORP</title>
        <cusip>30161N101</cusip>
        <identifiers>
          <isin value="US30161N1019"/>
          <other otherDesc="Internal" value="30161N101"/>
        </identifiers>
        <balance>1023456.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50169813.12000000</valUSD>
        <pctVal>1.356008714045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALGONQUIN POWER &amp; UTILITIES CORP.</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>ALGONQUIN POWER UTILITIES CORP</title>
        <cusip>015857105</cusip>
        <identifiers>
          <isin value="CA0158571053"/>
          <other otherDesc="Internal" value="015857105"/>
        </identifiers>
        <balance>767741.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4713929.74000000</valUSD>
        <pctVal>0.127409878716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTHWEST GAS HOLDINGS, INC.</name>
        <lei>254900LKF9EV0CUKNE09</lei>
        <title>SOUTHWEST GAS HOLDINGS INC</title>
        <cusip>844895102</cusip>
        <identifiers>
          <isin value="US8448951025"/>
          <other otherDesc="Internal" value="844895102"/>
        </identifiers>
        <balance>68075.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5915717.50000000</valUSD>
        <pctVal>0.159892253547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kornit Digital Ltd</name>
        <lei>5299006DPCQWP3VTFK34</lei>
        <title>KORNIT DIGITAL LTD</title>
        <cusip>M6372Q113</cusip>
        <identifiers>
          <isin value="IL0011216723"/>
          <other otherDesc="Internal" value="M6372Q113"/>
        </identifiers>
        <balance>69492.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1018752.72000000</valUSD>
        <pctVal>0.027535234434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fortis Inc.</name>
        <lei>549300MQYQ9Y065XPR71</lei>
        <title>FORTIS INC CANADA</title>
        <cusip>349553107</cusip>
        <identifiers>
          <isin value="CA3495531079"/>
          <other otherDesc="Internal" value="349553107"/>
        </identifiers>
        <balance>506853.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.00000000"/>
        <valUSD>28277328.87000000</valUSD>
        <pctVal>0.764290356552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="6187111.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTLAKE CORPORATION</name>
        <lei>GOXNEVUM0LL78B1OS344</lei>
        <title>WESTLAKE CORP</title>
        <cusip>960413102</cusip>
        <identifiers>
          <isin value="US9604131022"/>
          <other otherDesc="Internal" value="960413102"/>
        </identifiers>
        <balance>51797.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6050925.54000000</valUSD>
        <pctVal>0.163546707671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NRG ENERGY, INC.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG ENERGY INC</title>
        <cusip>629377508</cusip>
        <identifiers>
          <isin value="US6293775085"/>
          <other otherDesc="Internal" value="629377508"/>
        </identifiers>
        <balance>203594.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29753227.16000000</valUSD>
        <pctVal>0.804181494625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLUOR CORPORATION.</name>
        <lei>CQ7WZ4NOFWT7FAE6Q943</lei>
        <title>FLUOR CORP</title>
        <cusip>343412102</cusip>
        <identifiers>
          <isin value="US3434121022"/>
          <other otherDesc="Internal" value="343412102"/>
        </identifiers>
        <balance>224136.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10455944.40000000</valUSD>
        <pctVal>0.282607226103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VALMONT INDUSTRIES, INC.</name>
        <lei>5493009ZGZJJ8F77JN08</lei>
        <title>VALMONT INDUSTRIES INC</title>
        <cusip>920253101</cusip>
        <identifiers>
          <isin value="US9202531011"/>
          <other otherDesc="Internal" value="920253101"/>
        </identifiers>
        <balance>29922.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11955933.54000000</valUSD>
        <pctVal>0.323149500796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METALLUS INC.</name>
        <lei>549300QZTZWHDE9HJL14</lei>
        <title>METALLUS INC</title>
        <cusip>887399103</cusip>
        <identifiers>
          <isin value="US8873991033"/>
          <other otherDesc="Internal" value="887399103"/>
        </identifiers>
        <balance>54956.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>897981.04000000</valUSD>
        <pctVal>0.024270971717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="491834.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CSX Corporation</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX CORP</title>
        <cusip>126408103</cusip>
        <identifiers>
          <isin value="US1264081035"/>
          <other otherDesc="Internal" value="126408103"/>
        </identifiers>
        <balance>2884140.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>118393947.00000000</valUSD>
        <pctVal>3.199996448825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALGOMA STEEL GROUP INC.</name>
        <lei>549300Q5EU337A1XCX27</lei>
        <title>ALGOMA STEEL GROUP INC</title>
        <cusip>015658107</cusip>
        <identifiers>
          <isin value="CA0156581070"/>
          <other otherDesc="Internal" value="015658107"/>
        </identifiers>
        <balance>138519.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>572083.47000000</valUSD>
        <pctVal>0.015462488740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KNIFE RIVER CORPORATION</name>
        <lei>N/A</lei>
        <title>KNIFE RIVER CORP</title>
        <cusip>498894104</cusip>
        <identifiers>
          <isin value="US4988941047"/>
          <other otherDesc="Internal" value="498894104"/>
        </identifiers>
        <balance>87369.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7133678.85000000</valUSD>
        <pctVal>0.192811774296</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1747310.00000000"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>





    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>iShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort </ncom:signature>
      <ncom:signerName>Chuck Pulsfort </ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
