NPORT-EX 2 NPORT_0BXN_44336943_0722.htm

 

Schedule of Investments (unaudited) iShares® iBonds® 2022 Term High Yield and Income ETF
July 31, 2022 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Corporate Bonds & Notes          
           
Agriculture — 2.5%          
Altria Group Inc., 2.85%, 08/09/22  $1,255   $1,254,912 
BAT Capital Corp., 2.76%, 08/15/22 (Call 08/09/22)   510    509,908 
Bunge Ltd. Finance Corp., 3.00%, 09/25/22 (Call 08/25/22)   610    609,854 
         2,374,674 
Airlines — 0.6%          
Southwest Airlines Co., 2.75%, 11/16/22 (Call 10/16/22)   600    598,536 
           
Auto Manufacturers — 1.5%          
Ford Motor Credit Co. LLC          
3.35%, 11/01/22   685    684,507 
3.55%, 10/07/22   291    290,601 
4.25%, 09/20/22   475    475,627 
         1,450,735 
Banks — 10.8%          
Cooperatieve Rabobank U.A., 3.95%, 11/09/22   675    676,019 
Credit Suisse Group Funding Guernsey Ltd., 3.80%, 09/15/22   2,130    2,130,980 
Deutsche Bank AG/New York NY, 3.30%, 11/16/22   1,425    1,424,273 
M&T Bank Corp., 3.65%, 12/06/22 (Call 09/06/22)(a)   755    755,423 
Morgan Stanley, 4.88%, 11/01/22   2,900    2,913,166 
Natwest Group PLC, 6.13%, 12/15/22   1,920    1,934,515 
Synovus Financial Corp., 3.13%, 11/01/22 (Call 10/01/22)   525    524,675 
         10,359,051 
Chemicals — 2.9%          
Celanese U.S. Holdings LLC, 4.63%, 11/15/22   885    885,425 
Mosaic Co. (The), 3.25%, 11/15/22 (Call 10/15/22)   875    875,429 
Nutrien Ltd., 3.15%, 10/01/22 (Call 08/29/22)   385    385,138 
RPM International Inc., 3.45%, 11/15/22 (Call 08/29/22)   600    599,370 
         2,745,362 
Commercial Services — 3.4%          
Equifax Inc., 3.30%, 12/15/22 (Call 09/15/22)(a)   825    824,802 
North Queensland Export Terminal Pty Ltd., 4.45%, 12/15/22(a)(b)   2,200    2,132,482 
Verisk Analytics Inc., 4.13%, 09/12/22   300    299,778 
         3,257,062 
Computers — 1.7%          
Hewlett Packard Enterprise Co., 4.40%, 10/15/22 (Call 08/15/22)   1,235    1,235,556 
HP Inc., 4.05%, 09/15/22(a)   435    435,400 
         1,670,956 
Diversified Financial Services — 1.5%          
Discover Financial Services, 3.85%, 11/21/22   750    751,050 
International Lease Finance Corp., 5.88%, 08/15/22   700    700,371 
         1,451,421 
Electric — 8.6%          
American Electric Power Co. Inc., Series F, 2.95%, 12/15/22 (Call 09/15/22)   600    597,924 
Dominion Energy Inc., Series B, 2.75%, 09/15/22 (Call 08/19/22)   285    284,453 
DTE Energy Co.          
2.25%, 11/01/22   900    897,417 
Series H, 0.55%, 11/01/22   835    830,992 
Duke Energy Corp., 2.40%, 08/15/22 (Call 08/09/22)   725    724,594 
Edison International          
2.40%, 09/15/22 (Call 08/29/22)   375    374,108 
3.13%, 11/15/22 (Call 10/15/22)   750    748,762 
ITC Holdings Corp., 2.70%, 11/15/22 (Call 10/15/22)   835    831,961 
Security  Par
(000)		   Value 
         
Electric (continued)          
Public Service Enterprise Group Inc., 2.65%, 11/15/22 (Call 10/15/22)(a)  $960   $957,302 
TransAlta Corp., 4.50%, 11/15/22 (Call 08/29/22)(a)   2,025    2,023,501 
         8,271,014 
Food — 1.1%          
General Mills Inc., 2.60%, 10/12/22 (Call 09/12/22)   410    409,971 
McCormick & Co. Inc./MD, 2.70%, 08/15/22 (Call 08/02/22)   675    675,000 
         1,084,971 
Health Care - Products — 1.5%          
DH Europe Finance II Sarl, 2.05%, 11/15/22   1,490    1,484,710 
           
Health Care - Services — 7.4%          
Aetna Inc., 2.75%, 11/15/22 (Call 08/15/22)   1,460    1,459,591 
CommonSpirit Health, 2.95%, 11/01/22   940    941,466 
Dignity Health, 3.13%, 11/01/22   1,425    1,421,423 
Elevance Health Inc., 2.95%, 12/01/22 (Call 11/01/22)   1,260    1,258,715 
Humana Inc.          
2.90%, 12/15/22 (Call 11/15/22)   865    863,400 
3.15%, 12/01/22 (Call 09/01/22)   1,185    1,184,716 
         7,129,311 
Home Builders — 1.1%          
DR Horton Inc., 4.38%, 09/15/22 (Call 08/29/22)   300    299,664 
Lennar Corp., 4.75%, 11/15/22 (Call 08/30/22)   720    720,641 
         1,020,305 
Home Furnishings — 0.3%          
Leggett & Platt Inc., 3.40%, 08/15/22   250    249,983 
           
Household Products & Wares — 0.5%          
Church & Dwight Co. Inc., 2.88%, 10/01/22   525    524,417 
           
Insurance — 1.3%          
Aon Corp., 2.20%, 11/15/22   590    588,496 
Fidelity National Financial Inc., 5.50%, 09/01/22   390    389,856 
Globe Life Inc., 3.80%, 09/15/22(a)   280    279,742 
         1,258,094 
Iron & Steel — 0.5%          
Nucor Corp., 4.13%, 09/15/22 (Call 08/15/22)   464    463,675 
           
Leisure Time — 2.4%          
Royal Caribbean Cruises Ltd., 5.25%, 11/15/22(a)   2,320    2,303,737 
           
Manufacturing — 5.0%          
Carlisle Companies Inc., 3.75%, 11/15/22 (Call 08/29/22)   625    623,900 
Eaton Corp., 2.75%, 11/02/22   2,735    2,731,171 
General Electric Co.          
2.70%, 10/09/22   640    639,462 
3.15%, 09/07/22(a)   550    550,160 
Parker-Hannifin Corp., 3.50%, 09/15/22(a)   255    255,122 
         4,799,815 
Media — 2.2%          
CSC Holdings LLC, 5.88%, 09/15/22   2,105    2,104,137 
           
Mining — 2.1%          
Mountain Province Diamonds Inc., 8.00%, 12/15/22 (Call 08/09/22)(a)(b)   1,435    1,355,228 
Southern Copper Corp., 3.50%, 11/08/22   640    641,229 
         1,996,457 
Packaging & Containers — 1.6%          
Graphic Packaging International LLC, 4.88%, 11/15/22 (Call 08/29/22)(a)   910    910,628 

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Schedule of Investments (unaudited) (continued) iShares® iBonds® 2022 Term High Yield and Income ETF
July 31, 2022 (Percentages shown are based on Net Assets)

 

Security 
Par
(000)		   Value 
         
Packaging & Containers (continued)          
Sealed Air Corp., 4.88%, 12/01/22 (Call 09/01/22)(b)  $584   $583,819 
         1,494,447 
           
Pharmaceuticals — 6.2%          
AbbVie Inc.          
2.30%, 11/21/22   1,190    1,187,787 
2.90%, 11/06/22   1,075    1,073,936 
3.20%, 11/06/22 (Call 09/06/22)   650    649,707 
Cigna Corp., 3.05%, 11/30/22 (Call 10/31/22)   555    554,656 
CVS Health Corp.          
2.75%, 12/01/22 (Call 09/01/22)   1,335    1,332,624 
4.75%, 12/01/22 (Call 09/01/22)(a)   355    355,447 
McKesson Corp., 2.70%, 12/15/22 (Call 09/15/22)(a)   760    757,895 
         5,912,052 
Pipelines — 3.5%          
Energy Transfer LP/Regency Energy Finance Corp., 5.00%, 10/01/22 (Call 08/20/22)   1,005    1,004,960 
MPLX LP, 3.50%, 12/01/22 (Call 11/01/22)   1,190    1,189,215 
Ruby Pipeline LLC, 8.00%, 04/01/22(a)(b)(c)(d)   259    216,970 
TransCanada PipeLines Ltd., 2.50%, 08/01/22   980    980,000 
         3,391,145 
Real Estate Investment Trusts — 1.5%          
SL Green Operating Partnership LP, 3.25%, 10/15/22 (Call 09/15/22)(a)   850    847,943 
SL Green Realty Corp., 4.50%, 12/01/22 (Call 09/01/22)   604    604,797 
         1,452,740 
Retail — 0.3%          
O’Reilly Automotive Inc., 3.80%, 09/01/22 (Call 08/29/22)(a)   250    249,997 
           
Semiconductors — 0.1%          
Advanced Micro Devices Inc., 7.50%, 08/15/22   118    118,144 
           
Software — 3.7%          
Autodesk Inc., 3.60%, 12/15/22 (Call 09/15/22)   830    830,407 
Oracle Corp., 2.50%, 10/15/22   2,025    2,021,983 
Roper Technologies Inc.          
0.45%, 08/15/22   90    89,897 
3.13%, 11/15/22 (Call 08/15/22)   640    639,891 
         3,582,178 
Security  Par/
Shares
(000)		   Value 
         
Telecommunications — 2.5%          
Sprint Communications LLC, 6.00%, 11/15/22  $1,977   $1,989,633 
Vodafone Group PLC, 2.50%, 09/26/22   415    414,639 
         2,404,272 
Transportation — 0.8%          
JB Hunt Transport Services Inc., 3.30%, 08/15/22   335    334,839 
Ryder System Inc., 2.50%, 09/01/22 (Call 08/29/22)   430    429,463 
         764,302 
Total Long-Term Investments — 79.1%          
(Cost: $76,292,896)        75,967,700 
           
Short-Term Securities          
           
Money Market Funds — 27.9%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%(e)(f)(g)   9,117    9,115,958 
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%(e)(f)   17,660    17,660,000 
           
Total Short-Term Securities — 27.9%          
(Cost: $26,774,812)        26,775,958 
           
Total Investments in Securities — 107.0%          
(Cost: $103,067,708)        102,743,658 
           
Liabilities in Excess of Other Assets — (7.0)%        (6,738,629)
           
Net Assets — 100.0%       $96,005,029 

 

(a)All or a portion of this security is on loan.

(b)Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(c)Issuer filed for bankruptcy and/or is in default.

(d)Non-income producing security.

(e)Affiliate of the Fund.

(f)Annualized 7-day yield as of period end.

(g)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, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer  Value at
10/31/21		   Purchases
at Cost		   Proceeds
from Sale		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
07/31/22		   Shares
Held at
07/31/22
(000)		   Income   Capital Gain
Distributions from
Underlying Funds		 
BlackRock Cash Funds: Institutional, SL Agency Shares  $6,234,299   $2,884,711(a) $—   $(3,854)  $802   $9,115,958    9,117   $22,606(b) $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   3,280,000    14,380,000(a)  —    —    —    17,660,000    17,660    34,934    — 
                  $(3,854)  $802   $26,775,958        $57,540   $— 

 

(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 fees and collateral investment expenses, and other payments to and from borrowers of securities.

 

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Schedule of Investments (unaudited) (continued) iShares®  iBonds® 2022 Term High Yield and Income ETF

July 31, 2022

 

Fair Value Hierarchy as of Period End

 

Various inputs are used in determining the fair value of financial instruments. 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 for identical assets or liabilities that each Fund has the ability to access;

●Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

●Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are 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 
Investments                    
Assets                    
Corporate Bonds & Notes  $—   $75,967,700   $—   $75,967,700 
Money Market Funds   26,775,958    —    —    26,775,958 
   $26,775,958   $75,967,700   $—   $102,743,658 

 

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