Schedule

Investments

(unaudited)

June

30,

2025

iShares

Russell

2500

ETF

(Percentages

shown

are

based

Net

Assets)

Security

Value

Common

Stocks

Aerospace

Defense

—

1.9%

ATI,

Inc.

(a)

..........................

32,420

2,799,143

BWX

Technologies,

Inc.

................

21,147

3,046,437

Curtiss-Wright

Corp.

...................

8,682

4,241,591

Hexcel

Corp.

........................

18,539

1,047,268

Huntington

Ingalls

Industries,

Inc.

..........

9,040

2,182,798

Karman

Holdings,

Inc.

(a)

................

6,144

309,473

Leonardo

DRS,

Inc.

...................

17,528

814,701

Loar

Holdings,

Inc.

(a)

...................

9,885

851,791

Rocket

Lab

Corp.

(a)

...................

90,742

3,245,841

Spirit

AeroSystems

Holdings,

Inc.

Class

(a)

...

27,073

1,032,835

StandardAero,

Inc.

(a)

...................

32,607

1,032,012

Textron,

Inc.

........................

41,713

3,349,137

Woodward,

Inc.

......................

13,742

3,368,027

27,321,054

Air

Freight

Logistics

—

0.3%

Robinson

Worldwide,

Inc.

............

27,229

2,612,623

GXO

Logistics,

Inc.

(a)

(b)

.................

26,615

1,296,150

3,908,773

Automobile

Components

—

0.3%

BorgWarner,

Inc.

.....................

50,512

1,691,142

Gentex

Corp.

.......................

52,432

1,152,980

Lear

Corp.

.........................

12,367

1,174,617

QuantumScape

Corp.

Class

(a)

(b)

.........

95,538

642,015

4,660,754

Automobiles

—

0.3%

Harley-Davidson,

Inc.

..................

25,846

609,966

Lucid

Group,

Inc.

(a)

(b)

...................

287,960

607,596

Rivian

Automotive,

Inc.

Class

(a)

(b)

.........

179,656

2,468,473

Thor

Industries,

Inc.

...................

11,799

1,047,869

4,733,904

Banks

—

2.3%

Bank

OZK

.........................

25,047

1,178,712

BOK

Financial

Corp.

...................

5,329

520,270

Columbia

Banking

System,

Inc.

...........

49,058

1,146,976

Comerica,

Inc.

.......................

31,401

1,873,070

Commerce

Bancshares,

Inc.

.............

29,659

1,843,900

Cullen/Frost

Bankers,

Inc.

...............

14,122

1,815,242

East

West

Bancorp,

Inc.

................

32,736

3,305,681

First

Hawaiian,

Inc.

...................

29,614

739,166

First

Horizon

Corp.

....................

119,817

2,540,120

FNB

Corp.

.........................

83,281

1,214,237

Pinnacle

Financial

Partners,

Inc.

...........

18,325

2,023,263

Popular,

Inc.

........................

16,292

1,795,541

Prosperity

Bancshares,

Inc.

..............

21,403

1,503,347

SouthState

Corp.

.....................

24,002

2,208,904

Synovus

Financial

Corp.

................

32,426

1,678,046

TFS

Financial

Corp.

...................

12,146

157,291

Webster

Financial

Corp.

................

40,040

2,186,184

Western

Alliance

Bancorp

...............

25,887

2,018,668

Wintrust

Financial

Corp.

................

15,804

1,959,380

Zions

Bancorp

....................

34,478

1,790,787

33,498,785

Beverages

—

0.4%

Boston

Beer

Co.,

Inc.

(The)

Class

(a)

.......

1,893

361,203

Celsius

Holdings,

Inc.

(a)

(b)

................

38,108

1,767,830

Coca-Cola

Consolidated,

Inc.

(b)

...........

12,000

1,339,800

Primo

Brands

Corp.

Class

.............

59,513

1,762,775

5,231,608

Security

Value

Biotechnology

—

1.6%

(a)

Apellis

Pharmaceuticals,

Inc.

.............

24,934

431,608

Exact

Sciences

Corp.

..................

43,178

2,294,479

Exelixis,

Inc.

........................

62,530

2,756,010

Halozyme

Therapeutics,

Inc.

.............

28,404

1,477,576

Insmed,

Inc.

........................

41,381

4,164,584

Ionis

Pharmaceuticals,

Inc.

..............

36,020

1,423,150

Neurocrine

Biosciences,

Inc.

.............

22,448

2,821,489

Revolution

Medicines,

Inc.

...............

40,173

1,477,965

Roivant

Sciences

Ltd.

(b)

.................

87,818

989,709

Sarepta

Therapeutics,

Inc.

...............

21,314

364,469

Summit

Therapeutics,

Inc.

(b)

..............

27,076

576,177

Ultragenyx

Pharmaceutical,

Inc.

...........

20,819

756,979

United

Therapeutics

Corp.

...............

10,298

2,959,130

Viking

Therapeutics,

Inc.

(b)

...............

24,978

661,917

23,155,242

Broadline

Retail

—

0.3%

Dillard's,

Inc.

Class

(b)

.................

684

285,796

Etsy,

Inc.

(a)

.........................

23,926

1,200,128

Macy's,

Inc.

........................

64,227

748,887

Ollie's

Bargain

Outlet

Holdings,

Inc.

(a)

.......

14,190

1,869,958

4,104,769

Building

Products

—

1.3%

Smith

Corp.

.....................

26,794

1,756,883

AAON,

Inc.

(b)

........................

15,576

1,148,730

Advanced

Drainage

Systems,

Inc.

.........

16,376

1,880,947

Allegion

plc

.........................

19,947

2,874,762

Armstrong

World

Industries,

Inc.

...........

9,966

1,618,877

AZEK

Co.,

Inc.

(The)

Class

(a)

...........

32,847

1,785,234

Fortune

Brands

Innovations,

Inc.

..........

28,038

1,443,396

Hayward

Holdings,

Inc.

(a)

................

45,998

634,772

Owens

Corning

......................

19,676

2,705,844

Simpson

Manufacturing

Co.,

Inc.

..........

9,709

1,507,905

Trex

Co.,

Inc.

(a)

......................

24,733

1,344,981

18,702,331

Capital

Markets

—

2.4%

Affiliated

Managers

Group,

Inc.

...........

6,577

1,294,156

Carlyle

Group,

Inc.

(The)

................

60,547

3,112,116

Evercore,

Inc.

Class

.................

8,543

2,306,781

FactSet

Research

Systems,

Inc.

...........

9,043

4,044,753

Franklin

Resources,

Inc.

................

71,862

1,713,909

Freedom

Holding

Corp.

(a)

(b)

..............

4,221

616,477

Hamilton

Lane,

Inc.

Class

.............

9,283

1,319,300

Houlihan

Lokey,

Inc.

Class

.............

12,926

2,326,034

Invesco

Ltd.

........................

85,295

1,345,102

Janus

Henderson

Group

plc

.............

29,600

1,149,664

Jefferies

Financial

Group,

Inc.

............

36,679

2,005,975

Lazard,

Inc.

........................

25,789

1,237,356

MarketAxess

Holdings,

Inc.

..............

8,764

1,957,352

Morningstar,

Inc.

.....................

5,674

1,781,239

SEI

Investments

Co.

...................

24,275

2,181,351

Stifel

Financial

Corp.

..................

23,813

2,471,313

TPG,

Inc.

Class

....................

30,287

1,588,553

Virtu

Financial,

Inc.

Class

..............

19,032

852,443

XP,

Inc.

Class

.....................

97,412

1,967,722

35,271,596

Chemicals

—

1.2%

Albemarle

Corp.

.....................

27,239

1,707,068

Ashland,

Inc.

........................

10,844

545,236

Axalta

Coating

Systems

Ltd.

(a)

............

50,579

1,501,691

Celanese

Corp.

......................

25,864

1,431,055

Eastman

Chemical

Co.

.................

26,602

1,986,105

Element

Solutions,

Inc.

.................

52,195

1,182,217

Schedule

Investments

(unaudited)

(continued)

June

30,

2025

iShares

Russell

2500

ETF

(Percentages

shown

are

based

Net

Assets)

Security

Value

Chemicals

(continued)

FMC

Corp.

.........................

28,760

1,200,730

Huntsman

Corp.

.....................

38,093

396,929

Mosaic

Co.

(The)

.....................

73,139

2,668,111

NewMarket

Corp.

.....................

1,372

947,860

Olin

Corp.

..........................

26,614

534,675

RPM

International,

Inc.

.................

29,465

3,236,436

Scotts

Miracle-Gro

Co.

(The)

.............

10,119

667,449

18,005,562

Commercial

Services

Supplies

—

0.4%

Clean

Harbors,

Inc.

(a)

..................

11,742

2,714,516

MSA

Safety,

Inc.

.....................

8,572

1,436,067

Tetra

Tech,

Inc.

......................

61,904

2,226,068

6,376,651

Communications

Equipment

—

0.8%

Ciena

Corp.

(a)

.......................

32,698

2,659,328

F5,

Inc.

(a)

..........................

13,349

3,928,878

Juniper

Networks,

Inc.

.................

76,580

3,057,839

Lumentum

Holdings,

Inc.

(a)

(b)

.............

15,929

1,514,211

11,160,256

Construction

Engineering

—

1.5%

AECOM

...........................

30,673

3,461,755

API

Group

Corp.

(a)

....................

56,935

2,906,532

Comfort

Systems

USA,

Inc.

..............

8,034

4,307,911

EMCOR

Group,

Inc.

...................

10,224

5,468,715

Everus

Construction

Group,

Inc.

(a)

..........

11,791

749,082

MasTec,

Inc.

(a)

(b)

......................

14,416

2,456,919

Valmont

Industries,

Inc.

.................

4,598

1,501,569

WillScot

Holdings

Corp.

................

41,240

1,129,976

21,982,459

Construction

Materials

—

0.1%

Eagle

Materials,

Inc.

...................

7,641

1,544,322

Consumer

Finance

—

0.8%

Ally

Financial,

Inc.

....................

65,710

2,559,405

Credit

Acceptance

Corp.

(a)

(b)

..............

1,628

829,352

OneMain

Holdings,

Inc.

.................

27,873

1,588,761

SLM

Corp.

.........................

48,930

1,604,415

SoFi

Technologies,

Inc.

(a)

................

246,169

4,482,737

11,064,670

Consumer

Staples

Distribution

Retail

—

1.7%

Albertsons

Cos.,

Inc.

Class

............

96,000

2,064,960

BJ's

Wholesale

Club

Holdings,

Inc.

(a)

(b)

.......

30,296

3,266,818

Casey's

General

Stores,

Inc.

.............

8,576

4,376,075

Maplebear,

Inc.

(a)

(b)

....................

39,941

1,806,931

Performance

Food

Group

Co.

(a)

...........

35,373

3,094,076

Sprouts

Farmers

Market,

Inc.

(a)

............

22,690

3,735,682

Foods

Holding

Corp.

(a)

...............

53,227

4,099,011

Walgreens

Boots

Alliance,

Inc.

............

165,622

1,901,341

24,344,894

Containers

Packaging

—

1.2%

AptarGroup,

Inc.

.....................

15,162

2,371,792

Avery

Dennison

Corp.

..................

18,031

3,163,900

Crown

Holdings,

Inc.

..................

26,827

2,762,644

Graphic

Packaging

Holding

Co.

...........

69,028

1,454,420

Packaging

Corp.

America

.............

20,472

3,857,948

Sealed

Air

Corp.

.....................

33,516

1,040,002

Silgan

Holdings,

Inc.

...................

20,479

1,109,552

Sonoco

Products

Co.

..................

22,822

994,126

16,754,384

Security

Value

Distributors

—

0.3%

LKQ

Corp.

.........................

60,150

2,226,152

Pool

Corp.

.........................

8,328

2,427,445

4,653,597

Diversified

Consumer

Services

—

0.8%

ADT,

Inc.

..........................

81,942

694,049

Bright

Horizons

Family

Solutions,

Inc.

(a)

......

13,176

1,628,422

Duolingo,

Inc.

Class

(a)

................

8,712

3,572,094

Grand

Canyon

Education,

Inc.

(a)

...........

6,450

1,219,050

H&R

Block,

Inc.

......................

30,736

1,687,099

Service

Corp.

International

..............

32,113

2,613,998

11,414,712

Diversified

Telecommunication

Services

—

0.4%

AST

SpaceMobile,

Inc.

Class

(a)

(b)

.........

39,955

1,867,097

Frontier

Communications

Parent,

Inc.

(a)

......

54,351

1,978,376

Iridium

Communications,

Inc.

.............

21,991

663,469

Liberty

Global

Ltd.

Class

(a)

.............

38,722

387,607

Liberty

Global

Ltd.

Class

NVS

(a)

.........

32,482

334,890

5,231,439

Electric

Utilities

—

0.4%

IDACORP,

Inc.

......................

12,497

1,442,779

OGE

Energy

Corp.

....................

46,563

2,066,466

Pinnacle

West

Capital

Corp.

.............

27,615

2,470,714

5,979,959

Electrical

Equipment

—

0.7%

Acuity,

Inc.

.........................

7,155

2,134,623

Generac

Holdings,

Inc.

(a)

(b)

...............

13,534

1,938,204

nVent

Electric

plc

.....................

37,756

2,765,627

Regal

Rexnord

Corp.

..................

15,307

2,218,903

Sensata

Technologies

Holding

plc

..........

33,622

1,012,358

10,069,715

Electronic

Equipment,

Instruments

Components

—

1.6%

Arrow

Electronics,

Inc.

(a)

(b)

...............

11,965

1,524,700

Avnet,

Inc.

.........................

19,916

1,057,141

Cognex

Corp.

.......................

38,892

1,233,654

Coherent

Corp.

(a)

.....................

35,560

3,172,308

Crane

NXT

Co.

......................

11,350

611,765

Flex

Ltd.

(a)

..........................

88,357

4,410,781

Ingram

Micro

Holding

Corp.

(b)

.............

4,868

101,449

IPG

Photonics

Corp.

(a)

(b)

................

5,792

397,621

Jabil,

Inc.

..........................

24,384

5,318,150

Littelfuse,

Inc.

.......................

5,693

1,290,774

SYNNEX

Corp.

....................

18,205

2,470,419

Vontier

Corp.

........................

34,273

1,264,674

22,853,436

Energy

Equipment

Services

—

0.4%

NOV,

Inc.

..........................

86,604

1,076,488

TechnipFMC

plc

......................

96,283

3,315,987

Weatherford

International

plc

.............

16,498

830,014

5,222,489

Entertainment

—

0.3%

(a)

Liberty

Media

Corp.-Liberty

Live

Class

.....

4,565

362,826

Liberty

Media

Corp.-Liberty

Live

Class

NVS

10,605

860,702

Madison

Square

Garden

Sports

Corp.

.......

3,732

779,801

Roku,

Inc.

Class

....................

29,875

2,625,714

4,629,043

Financial

Services

—

1.4%

Affirm

Holdings,

Inc.

Class

(a)

............

62,844

4,345,034

Equitable

Holdings,

Inc.

................

49,909

2,799,895

Euronet

Worldwide,

Inc.

(a)

...............

9,588

972,031

Jack

Henry

Associates,

Inc.

............

17,421

3,138,742

Schedule

Investments

(unaudited)

(continued)

June

30,

2025

iShares

Russell

2500

ETF

(Percentages

shown

are

based

Net

Assets)

Security

Value

Financial

Services

(continued)

MGIC

Investment

Corp.

................

54,597

1,519,980

Cooper

Group,

Inc.

(a)

................

14,993

2,237,105

Shift4

Payments,

Inc.

Class

(a)

(b)

..........

15,580

1,544,134

UWM

Holdings

Corp.

Class

............

39,819

164,851

Voya

Financial,

Inc.

...................

22,497

1,597,287

Western

Union

Co.

(The)

...............

55,842

470,190

WEX,

Inc.

(a)

.........................

7,966

1,170,126

19,959,375

Food

Products

—

0.6%

Darling

Ingredients,

Inc.

(a)

...............

36,250

1,375,325

Flowers

Foods,

Inc.

...................

43,275

691,534

Freshpet,

Inc.

(a)

......................

10,984

746,473

Ingredion,

Inc.

.......................

14,803

2,007,583

Lamb

Weston

Holdings,

Inc.

.............

31,579

1,637,371

Pilgrim's

Pride

Corp.

...................

9,588

431,268

Post

Holdings,

Inc.

(a)

...................

11,690

1,274,561

Seaboard

Corp.

......................

165,949

Smithfield

Foods,

Inc.

..................

5,522

129,933

8,459,997

Gas

Utilities

—

0.3%

MDU

Resources

Group,

Inc.

.............

47,002

783,523

National

Fuel

Gas

Co.

.................

20,788

1,760,952

UGI

Corp.

..........................

49,843

1,815,282

4,359,757

Ground

Transportation

—

0.9%

Avis

Budget

Group,

Inc.

(a)

...............

3,914

661,662

Knight-Swift

Transportation

Holdings,

Inc.

....

36,490

1,613,953

Landstar

System,

Inc.

..................

8,035

1,117,026

Lyft,

Inc.

Class

(a)

....................

92,257

1,453,970

Ryder

System,

Inc.

....................

9,323

1,482,357

Saia,

Inc.

(a)

.........................

6,177

1,692,436

Schneider

National,

Inc.

Class

..........

11,977

289,244

U-Haul

Holding

Co.

NVS

...............

23,443

1,274,596

U-Haul

Holding

Co.

(a)

(b)

.................

1,588

96,169

XPO,

Inc.

(a)

(b)

........................

26,572

3,355,778

13,037,191

Health

Care

Equipment

Supplies

—

0.6%

Dentsply

Sirona,

Inc.

..................

46,156

732,957

Envista

Holdings

Corp.

(a)

................

38,917

760,438

Globus

Medical,

Inc.

Class

(a)

...........

25,992

1,534,048

Inspire

Medical

Systems,

Inc.

(a)

...........

6,631

860,505

Masimo

Corp.

(a)

(b)

.....................

10,406

1,750,497

Penumbra,

Inc.

(a)

.....................

8,669

2,224,726

Teleflex,

Inc.

........................

10,350

1,225,026

9,088,197

Health

Care

Providers

Services

—

1.0%

Acadia

Healthcare

Co.,

Inc.

(a)

.............

20,908

474,403

Amedisys,

Inc.

(a)

.....................

7,472

735,170

Chemed

Corp.

.......................

3,328

1,620,503

DaVita,

Inc.

(a)

........................

8,864

1,262,677

Encompass

Health

Corp.

...............

23,089

2,831,404

Henry

Schein,

Inc.

(a)

...................

25,393

1,854,959

Tenet

Healthcare

Corp.

(a)

................

21,228

3,736,128

Universal

Health

Services,

Inc.

Class

.....

12,763

2,312,017

14,827,261

Health

Care

REITs

—

0.3%

Healthcare

Realty

Trust,

Inc.

Class

.......

76,062

1,206,343

Medical

Properties

Trust,

Inc.

(b)

............

115,634

498,383

Omega

Healthcare

Investors,

Inc.

..........

66,565

2,439,607

4,144,333

Security

Value

Health

Care

Technology

—

0.1%

(a)

Certara,

Inc.

(b)

.......................

27,415

320,756

Doximity,

Inc.

Class

.................

30,101

1,846,395

2,167,151

Hotel

Resort

REITs

—

0.2%

Host

Hotels

Resorts,

Inc.

..............

158,953

2,441,518

Park

Hotels

Resorts,

Inc.

..............

45,518

465,649

2,907,167

Hotels,

Restaurants

Leisure

—

2.2%

Aramark

...........................

61,177

2,561,481

Boyd

Gaming

Corp.

...................

13,467

1,053,523

Caesars

Entertainment,

Inc.

(a)

............

47,840

1,358,178

Cava

Group,

Inc.

(a)

....................

23,130

1,948,240

Choice

Hotels

International,

Inc.

(b)

..........

6,267

795,157

Churchill

Downs,

Inc.

..................

15,072

1,522,272

Dutch

Bros,

Inc.

Class

(a)

..............

26,808

1,832,863

Hyatt

Hotels

Corp.

Class

..............

9,323

1,301,957

Light

Wonder,

Inc.

Class

(a)

............

19,184

1,846,652

MGM

Resorts

International

(a)

.............

47,491

1,633,215

Norwegian

Cruise

Line

Holdings

Ltd.

(a)

.......

102,522

2,079,146

Penn

Entertainment,

Inc.

(a)

(b)

.............

34,574

617,837

Planet

Fitness,

Inc.

Class

(a)

............

19,451

2,121,132

Texas

Roadhouse,

Inc.

.................

15,343

2,875,432

Travel

Leisure

Co.

...................

14,563

751,596

Vail

Resorts,

Inc.

.....................

8,312

1,306,065

Wendy's

Co.

(The)

....................

37,914

432,978

Wingstop,

Inc.

.......................

6,438

2,167,932

Wyndham

Hotels

Resorts,

Inc.

..........

17,595

1,428,890

Wynn

Resorts

Ltd.

....................

19,360

1,813,451

31,447,997

Household

Durables

—

0.9%

Mohawk

Industries,

Inc.

(a)

...............

11,889

1,246,443

Newell

Brands,

Inc.

...................

96,628

521,791

SharkNinja,

Inc.

(a)

.....................

16,311

1,614,626

Somnigroup

International,

Inc.

............

46,862

3,188,959

Toll

Brothers,

Inc.

.....................

22,931

2,617,115

TopBuild

Corp.

(a)

.....................

6,758

2,187,835

Whirlpool

Corp.

......................

12,435

1,261,158

12,637,927

Household

Products

—

0.0%

Reynolds

Consumer

Products,

Inc.

.........

12,636

270,663

Independent

Power

and

Renewable

Electricity

Producers

—

0.5%

AES

Corp.

(The)

.....................

164,565

1,731,224

Brookfield

Renewable

Corp.

.............

31,305

1,026,178

Clearway

Energy,

Inc.

Class

............

7,874

238,267

Clearway

Energy,

Inc.

Class

...........

18,855

603,360

Talen

Energy

Corp.

(a)

(b)

.................

10,514

3,057,156

6,656,185

Industrial

REITs

—

0.6%

Americold

Realty

Trust,

Inc.

..............

66,083

1,098,960

EastGroup

Properties,

Inc.

..............

12,084

2,019,478

First

Industrial

Realty

Trust,

Inc.

...........

29,666

1,427,825

Rexford

Industrial

Realty,

Inc.

............

54,934

1,954,002

STAG

Industrial,

Inc.

..................

43,268

1,569,763

8,070,028

Insurance

—

2.6%

American

Financial

Group,

Inc.

...........

15,871

2,003,079

Assurant,

Inc.

.......................

12,096

2,388,839

Assured

Guaranty

Ltd.

.................

10,961

954,703

Axis

Capital

Holdings

Ltd.

...............

17,601

1,827,336

Brighthouse

Financial,

Inc.

(a)

.............

13,605

731,541

Schedule

Investments

(unaudited)

(continued)

June

30,

2025

iShares

Russell

2500

ETF

(Percentages

shown

are

based

Net

Assets)

Security

Value

Insurance

(continued)

Everest

Group

Ltd.

....................

10,042

3,412,774

First

American

Financial

Corp.

............

23,033

1,413,996

Globe

Life,

Inc.

......................

19,763

2,456,343

Hanover

Insurance

Group,

Inc.

(The)

.......

8,388

1,424,870

Kemper

Corp.

.......................

14,397

929,182

Kinsale

Capital

Group,

Inc.

..............

5,120

2,477,568

Lincoln

National

Corp.

.................

24,581

850,503

Old

Republic

International

Corp.

...........

54,760

2,104,974

Primerica,

Inc.

.......................

7,894

2,160,351

Reinsurance

Group

America,

Inc.

........

15,814

3,136,865

RenaissanceRe

Holdings

Ltd.

............

11,512

2,796,265

RLI

Corp.

..........................

19,164

1,384,024

Ryan

Specialty

Holdings,

Inc.

Class

.......

24,548

1,669,018

Unum

Group

........................

41,414

3,344,595

White

Mountains

Insurance

Group

Ltd.

......

588

1,055,883

38,522,709

Interactive

Media

Services

—

0.2%

IAC,

Inc.

(a)

..........................

15,571

581,421

Match

Group,

Inc.

....................

56,660

1,750,227

Trump

Media

Technology

Group

Corp.

(a)

(b)

...

24,024

433,393

ZoomInfo

Technologies,

Inc.

(a)

............

68,083

689,000

3,454,041

Services

—

0.6%

Amdocs

Ltd.

........................

25,590

2,334,832

DXC

Technology

Co.

(a)

.................

41,589

635,896

EPAM

Systems,

Inc.

(a)

..................

12,693

2,244,376

Globant

(a)

........................

9,966

905,311

Kyndryl

Holdings,

Inc.

(a)

.................

53,614

2,249,644

8,370,059

Leisure

Products

—

0.4%

Brunswick

Corp.

.....................

15,182

838,653

Hasbro,

Inc.

........................

30,639

2,261,771

Mattel,

Inc.

(a)

........................

74,429

1,467,740

YETI

Holdings,

Inc.

(a)

..................

19,123

602,757

5,170,921

Life

Sciences

Tools

Services

—

1.0%

Avantor,

Inc.

(a)

.......................

153,136

2,061,210

Bio-Rad

Laboratories,

Inc.

Class

(a)

(b)

......

4,489

1,083,285

Bio-Techne

Corp.

.....................

36,351

1,870,259

Bruker

Corp.

........................

23,944

986,493

Charles

River

Laboratories

International,

Inc.

(a)

11,308

1,715,763

Medpace

Holdings,

Inc.

(a)

...............

5,294

1,661,575

QIAGEN

(a)

(b)

......................

49,402

2,374,260

Repligen

Corp.

(a)

.....................

12,211

1,518,804

Sotera

Health

Co.

(a)

...................

35,756

397,607

Tempus

AI,

Inc.

(a)

.....................

19,079

1,212,280

14,881,536

Machinery

—

3.0%

AGCO

Corp.

........................

14,378

1,483,235

Allison

Transmission

Holdings,

Inc.

.........

19,688

1,870,163

Crane

Co.

..........................

11,404

2,165,506

Donaldson

Co.,

Inc.

...................

27,606

1,914,476

Esab

Corp.

.........................

13,194

1,590,537

Flowserve

Corp.

.....................

30,198

1,580,865

Gates

Industrial

Corp.

plc

(a)

..............

58,775

1,353,588

Graco,

Inc.

.........................

38,483

3,308,384

ITT,

Inc.

...........................

18,683

2,930,055

Lincoln

Electric

Holdings,

Inc.

............

12,500

2,591,500

Middleby

Corp.

(The)

(a)

.................

11,686

1,682,784

Mueller

Industries,

Inc.

.................

25,135

1,997,478

Nordson

Corp.

.......................

12,493

2,678,124

Oshkosh

Corp.

......................

14,823

1,683,003

Security

Value

Machinery

(continued)

Pentair

plc

.........................

37,775

3,877,982

RBC

Bearings,

Inc.

(a)

..................

7,184

2,764,403

Snap-on,

Inc.

.......................

11,832

3,681,882

Stanley

Black

Decker,

Inc.

.............

35,826

2,427,212

Timken

Co.

(The)

.....................

14,497

1,051,757

Toro

Co.

(The)

.......................

23,112

1,633,556

44,266,490

Marine

Transportation

—

0.1%

Kirby

Corp.

(a)

........................

13,122

1,488,166

Media

—

1.0%

DoubleVerify

Holdings,

Inc.

(a)

.............

31,383

469,803

Interpublic

Group

Cos.,

Inc.

(The)

........

85,495

2,092,918

Liberty

Broadband

Corp.

Class

(a)

.........

3,835

375,140

Liberty

Broadband

Corp.

Class

NVS

(a)

(b)

...

25,950

2,552,961

New

York

Times

Co.

(The)

Class

.........

37,198

2,082,344

News

Corp.

Class

NVS

..............

87,757

2,608,138

News

Corp.

Class

(b)

.................

25,940

890,001

Nexstar

Media

Group,

Inc.

...............

6,534

1,130,055

Paramount

Global

Class

(b)

.............

2,128

48,838

Paramount

Global

Class

NVS

..........

138,017

1,780,419

Sirius

Holdings,

Inc.

................

43,998

1,010,634

15,041,251

Metals

Mining

—

0.9%

Alcoa

Corp.

.........................

59,789

1,764,373

Carpenter

Technology

Corp.

.............

11,154

3,082,743

Cleveland-Cliffs,

Inc.

(a)

(b)

................

112,788

857,189

Materials

Corp.

Class

(a)

(b)

...........

27,950

929,896

Reliance,

Inc.

.......................

12,235

3,840,566

Royal

Gold,

Inc.

......................

15,228

2,708,148

13,182,915

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

0.5%

AGNC

Investment

Corp.

................

226,848

2,084,733

Annaly

Capital

Management,

Inc.

..........

144,044

2,710,908

Rithm

Capital

Corp.

...................

123,480

1,394,089

Starwood

Property

Trust,

Inc.

.............

74,430

1,493,810

7,683,540

Multi-Utilities

—

0.3%

NiSource,

Inc.

.......................

109,072

4,399,964

Office

REITs

—

0.5%

BXP,

Inc.

..........................

36,713

2,477,026

Cousins

Properties,

Inc.

................

38,678

1,161,500

Highwoods

Properties,

Inc.

..............

24,573

763,975

Kilroy

Realty

Corp.

....................

27,187

932,786

Vornado

Realty

Trust

..................

40,880

1,563,251

6,898,538

Oil,

Gas

Consumable

Fuels

—

1.4%

Antero

Midstream

Corp.

................

77,522

1,469,042

Antero

Resources

Corp.

(a)

...............

67,156

2,705,044

APA

Corp.

.........................

82,203

1,503,493

Chord

Energy

Corp.

...................

13,691

1,325,973

Civitas

Resources,

Inc.

.................

21,387

588,570

Midstream,

Inc.

....................

23,518

2,584,863

Sinclair

Corp.

.....................

36,918

1,516,592

Matador

Resources

Co.

................

27,070

1,291,780

Ovintiv,

Inc.

.........................

60,179

2,289,811

Permian

Resources

Corp.

Class

.........

147,716

2,011,892

Range

Resources

Corp.

................

54,722

2,225,544

Viper

Energy,

Inc.

Class

..............

30,377

1,158,275

20,670,879

Schedule

Investments

(unaudited)

(continued)

June

30,

2025

iShares

Russell

2500

ETF

(Percentages

shown

are

based

Net

Assets)

Security

Value

Paper

Forest

Products

—

0.1%

Louisiana-Pacific

Corp.

.................

14,604

1,255,798

Passenger

Airlines

—

0.2%

(a)

Alaska

Air

Group,

Inc.

..................

28,382

1,404,342

American

Airlines

Group,

Inc.

.............

151,165

1,696,071

3,100,413

Personal

Care

Products

—

0.2%

(a)

BellRing

Brands,

Inc.

..................

29,417

1,704,127

Coty,

Inc.

Class

....................

80,026

372,121

elf

Beauty,

Inc.

......................

12,692

1,579,392

3,655,640

Pharmaceuticals

—

0.6%

Corcept

Therapeutics,

Inc.

(a)

.............

21,785

1,599,019

Elanco

Animal

Health,

Inc.

(a)

..............

114,072

1,628,948

Jazz

Pharmaceuticals

plc

(a)

..............

13,750

1,459,150

Organon

Co.

......................

60,196

582,698

Perrigo

Co.

plc

......................

31,574

843,657

Viatris,

Inc.

.........................

274,915

2,454,991

8,568,463

Professional

Services

—

1.2%

Amentum

Holdings,

Inc.

(a)

...............

36,905

871,327

CACI

International,

Inc.

Class

(a)

(b)

........

5,033

2,399,231

Clarivate

plc

(a)

(b)

......................

82,060

352,858

Concentrix

Corp.

.....................

10,510

555,506

Dayforce,

Inc.

(a)

......................

35,383

1,959,865

Dun

Bradstreet

Holdings,

Inc.

...........

71,318

648,281

ExlService

Holdings,

Inc.

(a)

..............

36,679

1,606,174

FTI

Consulting,

Inc.

(a)

..................

7,750

1,251,625

Genpact

Ltd.

........................

37,307

1,641,881

KBR,

Inc.

..........................

29,778

1,427,557

ManpowerGroup,

Inc.

..................

10,675

431,270

Parsons

Corp.

(a)

......................

12,229

877,675

Paylocity

Holding

Corp.

(a)

...............

10,394

1,883,289

Robert

Half,

Inc.

.....................

22,921

940,907

Science

Applications

International

Corp.

.....

10,894

1,226,773

18,074,219

Real

Estate

Management

Development

—

0.5%

(a)

Howard

Hughes

Holdings,

Inc.

(b)

...........

7,171

484,043

Jones

Lang

LaSalle,

Inc.

................

10,935

2,796,954

Zillow

Group,

Inc.

Class

...............

11,564

792,018

Zillow

Group,

Inc.

Class

NVS

..........

37,692

2,640,325

6,713,340

Residential

REITs

—

0.6%

American

Homes

Rent

Class

..........

79,196

2,856,600

Camden

Property

Trust

.................

24,870

2,802,600

Equity

LifeStyle

Properties,

Inc.

...........

43,938

2,709,656

8,368,856

Retail

REITs

—

0.9%

Agree

Realty

Corp.

...................

25,093

1,833,295

Brixmor

Property

Group,

Inc.

.............

70,569

1,837,617

Federal

Realty

Investment

Trust

...........

19,717

1,872,918

Kimco

Realty

Corp.

...................

154,893

3,255,851

NNN

REIT,

Inc.

......................

43,342

1,871,507

Regency

Centers

Corp.

................

41,871

2,982,471

13,653,659

Semiconductors

Semiconductor

Equipment

—

1.3%

Allegro

MicroSystems,

Inc.

(a)

.............

28,560

976,466

Amkor

Technology,

Inc.

.................

26,473

555,668

Astera

Labs,

Inc.

(a)

(b)

...................

33,194

3,001,401

Cirrus

Logic,

Inc.

(a)

....................

12,272

1,279,417

Enphase

Energy,

Inc.

(a)

.................

29,503

1,169,794

Security

Value

Semiconductors

Semiconductor

Equipment

(continued)

Lattice

Semiconductor

Corp.

(a)

............

31,517

1,544,018

MACOM

Technology

Solutions

Holdings,

Inc.

(a)

14,666

2,101,491

MKS,

Inc.

..........................

15,571

1,547,135

Onto

Innovation,

Inc.

(a)

(b)

................

11,273

1,137,784

Qorvo,

Inc.

(a)

........................

21,593

1,833,462

Skyworks

Solutions,

Inc.

................

35,527

2,647,472

Universal

Display

Corp.

................

10,182

1,572,712

19,366,820

Software

—

3.1%

Appfolio,

Inc.

Class

(a)

(b)

...............

5,096

1,173,507

Aurora

Innovation,

Inc.

Class

(a)

..........

228,332

1,196,460

Bentley

Systems,

Inc.

Class

............

36,487

1,969,203

BILL

Holdings,

Inc.

(a)

...................

21,364

988,299

CCC

Intelligent

Solutions

Holdings,

Inc.

(a)

(b)

....

120,014

1,129,332

Confluent,

Inc.

Class

(a)

...............

64,164

1,599,609

Dolby

Laboratories,

Inc.

Class

..........

14,014

1,040,680

Dropbox,

Inc.

Class

(a)

................

46,914

1,341,740

Dynatrace,

Inc.

(a)

.....................

68,063

3,757,758

Elastic

(a)

........................

20,898

1,762,328

Gen

Digital,

Inc.

......................

127,348

3,744,031

Gitlab,

Inc.

Class

(a)

..................

30,201

1,362,367

Guidewire

Software,

Inc.

(a)

...............

19,410

4,570,084

Informatica,

Inc.

Class

(a)

..............

24,296

591,608

Manhattan

Associates,

Inc.

(a)

.............

13,896

2,744,043

nCino,

Inc.

(a)

(b)

.......................

24,712

691,195

Nutanix,

Inc.

Class

(a)

.................

59,132

4,520,050

Pegasystems,

Inc.

....................

20,153

1,090,882

Procore

Technologies,

Inc.

(a)

.............

26,561

1,817,304

RingCentral,

Inc.

Class

(a)

..............

18,559

526,148

Rubrik,

Inc.

Class

(a)

(b)

.................

22,504

2,016,133

SailPoint,

Inc.

(a)

(b)

.....................

13,937

318,600

SentinelOne,

Inc.

Class

(a)

..............

67,173

1,227,922

Teradata

Corp.

(a)

.....................

22,066

492,292

UiPath,

Inc.

Class

(a)

.................

100,965

1,292,352

Unity

Software,

Inc.

(a)

(b)

.................

73,414

1,776,619

44,740,546

Specialized

REITs

—

0.7%

CubeSmart

.........................

52,469

2,229,933

EPR

Properties

......................

17,294

1,007,548

Gaming

Leisure

Properties,

Inc.

.........

61,172

2,855,509

Lamar

Advertising

Co.

Class

...........

20,310

2,464,822

Millrose

Properties,

Inc.

Class

...........

27,767

791,637

National

Storage

Affiliates

Trust

...........

16,320

522,077

Rayonier,

Inc.

.......................

35,886

795,951

10,667,477

Specialty

Retail

—

1.5%

AutoNation,

Inc.

(a)

.....................

6,368

1,265,003

Bath

Body

Works,

Inc.

................

49,350

1,478,526

CarMax,

Inc.

(a)

.......................

35,339

2,375,134

Dick's

Sporting

Goods,

Inc.

..............

12,546

2,481,724

Five

Below,

Inc.

(a)

.....................

12,480

1,637,126

Floor

Decor

Holdings,

Inc.

Class

(a)

......

24,671

1,874,009

GameStop

Corp.

Class

(a)

(b)

.............

94,983

2,316,635

Gap,

Inc.

(The)

......................

53,324

1,162,997

Lithia

Motors,

Inc.

Class

..............

5,930

2,003,273

Murphy

USA,

Inc.

....................

4,168

1,695,543

Penske

Automotive

Group,

Inc.

...........

4,286

736,378

(a)

.............................

3,539

668,906

Valvoline,

Inc.

(a)

(b)

.....................

29,454

1,115,423

Wayfair,

Inc.

Class

(a)

.................

21,724

1,110,965

21,921,642

Schedule

Investments

(unaudited)

(continued)

June

30,

2025

iShares

Russell

2500

ETF

(Percentages

shown

are

based

Net

Assets)

Affiliates

Investments

issuers

considered

affiliate(s)

the

Fund

during

the period

ended

June

30,

2025

for

purposes

Section

2(a)(3)

the

Investment

Company

Act

1940,

amended,

were

follows:

Security

Value

Technology

Hardware,

Storage

Peripherals

—

0.4%

(a)

Pure

Storage,

Inc.

Class

..............

71,991

4,145,242

Sandisk

Corp.

.......................

31,261

1,417,686

5,562,928

Textiles,

Apparel

Luxury

Goods

—

1.0%

Amer

Sports,

Inc.

(a)

....................

34,579

1,340,282

Birkenstock

Holding

plc

(a)

...............

12,269

603,390

Columbia

Sportswear

Co.

...............

6,029

368,251

Crocs,

Inc.

(a)

(b)

.......................

12,601

1,276,229

PVH

Corp.

.........................

12,105

830,403

Ralph

Lauren

Corp.

Class

.............

9,069

2,487,445

Skechers

USA,

Inc.

Class

(a)

............

30,277

1,910,479

Tapestry,

Inc.

........................

47,770

4,194,684

Under

Armour,

Inc.

Class

(a)

(b)

...........

42,912

293,089

Under

Armour,

Inc.

Class

NVS

(a)

........

43,515

282,412

Corp.

..........................

81,393

956,368

14,543,032

Trading

Companies

Distributors

—

1.3%

Air

Lease

Corp.

Class

................

24,142

1,412,066

Applied

Industrial

Technologies,

Inc.

........

8,831

2,052,766

Core

Main,

Inc.

Class

(a)

..............

44,001

2,655,460

FTAI

Aviation

Ltd.

.....................

23,611

2,716,209

MSC

Industrial

Direct

Co.,

Inc.

Class

......

10,187

866,099

QXO,

Inc.

(a)

.........................

137,957

2,971,594

SiteOne

Landscape

Supply,

Inc.

(a)

(b)

.........

10,243

1,238,788

Watsco,

Inc.

........................

8,067

3,562,549

WESCO

International,

Inc.

...............

11,107

2,057,016

19,532,547

Water

Utilities

—

0.2%

Essential

Utilities,

Inc.

..................

63,890

2,372,875

Wireless

Telecommunication

Services

—

0.1%

Millicom

International

Cellular

..........

23,812

892,236

Total

Common

Stocks

—

(Cost:

843,594,287

)

..............................

866,931,133

Security

Value

Investment

Companies

iShares

Russell

2000

ETF

(b)

(c)

.............

2,702,923

583,263,754

Total

Investment

Companies

—

(Cost:

558,063,418

)

..............................

583,263,754

Total

Long-Term

Investments

—

99.8%

(Cost:

1,401,657,705

)

............................

1,450,194,887

Short-Term

Securities

Money

Market

Funds

—

43.8%

BlackRock

Cash

Funds:

Institutional,

Agency

4.47

(c)

(d)

(e)

.................

635,332,766

635,586,899

Total

Short-Term

Securities

—

(Cost:

635,574,986

)

..............................

635,586,899

Total

Investments

—

143

(Cost:

2,037,232,691

)

............................

2,085,781,786

Liabilities

Excess

Other

Assets

—

(

43.6

)

............

(

632,810,499

)

Net

Assets

—

100.0%

...............................

1,452,971,287

(a)

Non-income

producing

security.

(b)

All

portion

this

security

loan.

(c)

Affiliate

the

Fund.

(d)

All

portion

this

security

was

purchased

with

the

cash

collateral

from

loaned

securities.

(e)

Annualized

7-day

yield

period

end.

Affiliated

Issuer

Value

03/31/25

Purchases

Cost

Proceeds

from

Sales

Net

Realized

Gain

(Loss)

Change

Unrealized

Appreciation

(Depreciation)

Value

06/30/25

Held

06/30/25

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Institutional,

Agency

..............

235,549,315

400,105,075

(a)

—

(

66,061

)

(

1,430

)

635,586,899

635,332,766

261,816

(b)

—

BlackRock

Cash

Funds:

Treasury,

Agency

(c)

.............

1,196,476

—

(

1,196,476

)

(a)

—

25,392

—

iShares

Russell

2000

ETF

...

527,563,075

80,328,013

(

72,919,375

)

(

235,108

)

48,527,149

583,263,754

2,702,923

1,589,190

—

(

301,169

)

48,525,719

1,218,850,653

1,876,398

—

(a)

Represents

net

amount

purchased

(sold).

(b)

All

portion

represents

securities

lending

income

earned

from

the

reinvestment

cash

collateral

from

loaned

securities,

net

collateral

investment

fees,

and

other

payments

and

from

borrowers

securities.

(c)

period

end,

the

entity

longer

held.

Schedule

Investments

(unaudited)

(continued)

June

30,

2025

iShares

Russell

2500

ETF

Fair

Value

Hierarchy

Period

End

Various

inputs

are

used

determining

the

fair

value

financial

instruments

the

measurement

date.

These

inputs

valuation

techniques

are

categorized

into

fair

value

hierarchy

consisting

three

broad

levels

for

financial

reporting

purposes

follows:

Level

—

Unadjusted

price

quotations

active

markets/exchanges

that

the

Fund

has

the

ability

access

for

identical

assets

liabilities;

Level

—

Inputs

other

than

quoted

prices

included

within

Level

that

are

observable

for

the

asset

liability,

either

directly

indirectly;

and

Level

—

Inputs

that

are

unobservable

and

significant

the

entire

fair

value

measurement

for

the

asset

liability

(including

the

Valuation

Committee's

assumptions

used

determining

the

fair

value

financial

instruments).

The

hierarchy

gives

the

highest

priority

unadjusted

quoted

prices

active

markets

for

identical

assets

liabilities

(Level

measurements)

and

the

lowest

priority

unobservable

inputs

(Level

measurements).

Accordingly,

the

degree

judgment

exercised

determining

fair

value

greatest

for

instruments

categorized

Level

The

inputs

used

measure

fair

value

may

fall

into

different

levels

the

fair

value

hierarchy.

such

cases,

for

disclosure

purposes,

the

fair

value

hierarchy

classification

determined

based

the

lowest

level

input

that

significant

the

fair

value

measurement

its

entirety.

Investments

classified

within

Level

have

significant

unobservable

inputs

used

the

Valuation

Committee

determining

the

price

for

Fair

Valued

Investments.

Level

investments

include

equity

debt

issued

privately

held

companies

funds,

that

may

not have

secondary

market,

and/

may

have

limited

number

investors.

The

categorization

value

determined

for

financial

instruments

based

the

pricing

transparency

the

financial

instruments

and

not

necessarily

indication

the

risks

associated

with

investing

those

securities.

For

information

about

the

Fund’s

policy

regarding

valuation

financial

instruments,

refer

its

most

recent

financial

statements.

The

following

table

summarizes

the

Fund’s

financial

instruments

categorized

the

fair

value

hierarchy.

The

breakdown

the

Fund's

financial

instruments

into

major