NPORT-EX 2 iShares_Micro_Cap_ETF.htm PART F
Schedule
of
Investments
(unaudited)
June
30,
2025
iShares
®
Micro-Cap
ETF
1
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Common
Stocks
Aerospace
&
Defense
—
1.6%
AerSale
Corp.
(a)
......................
72,128
$
433,489‌
Astronics
Corp.
(a)
.....................
68,177
2,282,566‌
Byrna
Technologies,
Inc.
(a)
(b)
..............
40,641
1,254,994‌
Cadre
Holdings,
Inc.
...................
64,167
2,043,719‌
CPI
Aerostructures,
Inc.
(a)
...............
22,773
79,706‌
Ducommun,
Inc.
(a)
....................
31,102
2,569,958‌
Innovative
Solutions
&
Support,
Inc.
(a)
(b)
......
29,720
412,514‌
National
Presto
Industries,
Inc.
............
11,695
1,145,642‌
Optex
Systems
Holdings,
Inc.
(a)
...........
11,653
133,893‌
Park
Aerospace
Corp.
..................
41,446
612,158‌
Redwire
Corp.
(a)
(b)
.....................
75,400
1,229,020‌
Safe
Pro
Group,
Inc.
(a)
.................
15,013
41,286‌
Satellogic,
Inc.
,
Class
A
(a)
(b)
..............
154,528
559,391‌
Virgin
Galactic
Holdings,
Inc.
(a)
(b)
...........
88,881
242,645‌
VirTra,
Inc.
(a)
........................
24,719
174,763‌
13,215,744‌
Air
Freight
&
Logistics
—
0.1%
(a)
Air
T,
Inc.
(b)
.........................
2,787
61,342‌
Freightos
Ltd.
.......................
66,399
161,350‌
Radiant
Logistics,
Inc.
.................
74,476
452,814‌
675,506‌
Automobile
Components
—
0.4%
(a)
Cooper-Standard
Holdings,
Inc.
...........
37,966
816,269‌
Holley,
Inc.
.........................
132,794
265,588‌
Luminar
Technologies,
Inc.
,
Class
A
(b)
.......
90,089
258,556‌
Motorcar
Parts
of
America,
Inc.
(b)
..........
40,930
458,416‌
Solid
Power,
Inc.
,
Class
A
(b)
..............
325,417
712,663‌
Stoneridge,
Inc.
......................
61,251
431,207‌
Strattec
Security
Corp.
(b)
................
8,466
526,670‌
Sypris
Solutions,
Inc.
..................
29,063
64,229‌
3,533,598‌
Automobiles
—
0.0%
(a)
Faraday
Future
Intelligent
Electric,
Inc.
......
199,638
335,392‌
Massimo
Group
......................
7,198
15,979‌
351,371‌
Banks
—
17.3%
ACNB
Corp.
........................
23,114
990,204‌
Affinity
Bancshares,
Inc.
................
10,140
187,387‌
Amalgamated
Financial
Corp.
............
52,828
1,648,234‌
Amerant
Bancorp,
Inc.
,
Class
A
...........
83,541
1,522,952‌
AmeriServ
Financial,
Inc.
...............
30,941
94,061‌
Ames
National
Corp.
..................
19,982
355,879‌
Arrow
Financial
Corp.
..................
37,294
985,307‌
Auburn
National
Bancorp,
Inc.
............
5,059
131,028‌
Bank
First
Corp.
.....................
20,676
2,432,531‌
Bank
of
Marin
Bancorp
.................
33,302
760,618‌
Bank
of
the
James
Financial
Group,
Inc.
.....
8,748
123,084‌
Bank7
Corp.
........................
9,636
403,074‌
BankFinancial
Corp.
...................
24,925
288,382‌
Bankwell
Financial
Group,
Inc.
............
15,906
573,093‌
Bar
Harbor
Bankshares
................
34,073
1,020,827‌
BayCom
Corp.
......................
23,302
645,698‌
Bayfirst
Financial
Corp.
.................
7,958
111,412‌
BCB
Bancorp,
Inc.
....................
35,118
295,694‌
Blue
Foundry
Bancorp
(a)
................
42,937
410,907‌
Blue
Ridge
Bankshares,
Inc.
(a)
(b)
...........
143,843
516,396‌
Bogota
Financial
Corp.
(a)
................
9,361
73,203‌
Bridgewater
Bancshares,
Inc.
(a)
...........
46,953
747,022‌
Broadway
Financial
Corp.
(a)
..............
9,445
68,949‌
Burke
&
Herbert
Financial
Services
Corp.
....
30,404
1,816,031‌
Business
First
Bancshares,
Inc.
...........
64,175
1,581,914‌
Security
Shares
Shares
Value
Banks
(continued)
BV
Financial,
Inc.
(a)
(b)
..................
19,644
$
299,178‌
Byline
Bancorp,
Inc.
...................
61,977
1,656,645‌
C&F
Financial
Corp.
...................
6,858
423,344‌
California
Bancorp
(a)
...................
50,629
797,913‌
Camden
National
Corp.
................
38,112
1,546,585‌
Capital
Bancorp,
Inc.
..................
26,388
886,109‌
Capital
City
Bank
Group,
Inc.
.............
31,371
1,234,449‌
Carter
Bankshares,
Inc.
(a)
...............
51,727
896,946‌
Catalyst
Bancorp,
Inc.
(a)
(b)
...............
8,286
102,664‌
CB
Financial
Services,
Inc.
..............
10,573
301,330‌
Central
Pacific
Financial
Corp.
............
56,506
1,583,863‌
Central
Plains
Bancshares,
Inc.
(a)
(b)
.........
7,832
118,655‌
CF
Bankshares,
Inc.
...................
8,702
208,587‌
CFSB
Bancorp,
Inc.
(a)
..................
6,265
85,956‌
Chain
Bridge
Bancorp,
Inc.
,
Class
A
(a)
.......
5,217
134,442‌
Chemung
Financial
Corp.
...............
9,448
457,945‌
ChoiceOne
Financial
Services,
Inc.
.........
32,214
924,542‌
Citizens
&
Northern
Corp.
...............
33,752
639,263‌
Citizens
Community
Bancorp,
Inc.
.........
21,583
297,845‌
Citizens
Financial
Services,
Inc.
...........
10,187
598,181‌
Civista
Bancshares,
Inc.
................
34,214
793,765‌
CNB
Financial
Corp.
...................
46,900
1,072,134‌
Coastal
Financial
Corp.
(a)
(b)
..............
29,054
2,814,461‌
Colony
Bankcorp,
Inc.
.................
38,320
631,130‌
Community
Trust
Bancorp,
Inc.
...........
36,205
1,915,969‌
Community
West
Bancshares
............
37,838
738,219‌
ConnectOne
Bancorp,
Inc.
..............
107,535
2,490,511‌
Dime
Community
Bancshares,
Inc.
.........
89,945
2,423,118‌
Eagle
Bancorp
Montana,
Inc.
.............
16,732
278,922‌
Eagle
Financial
Services,
Inc.
............
10,275
314,620‌
ECB
Bancorp,
Inc.
(a)
(b)
..................
17,239
266,170‌
Enterprise
Bancorp,
Inc.
................
22,476
890,949‌
Equity
Bancshares,
Inc.
,
Class
A
..........
36,122
1,473,778‌
Esquire
Financial
Holdings,
Inc.
...........
16,127
1,526,582‌
ESSA
Bancorp,
Inc.
...................
19,360
375,584‌
Farmers
&
Merchants
Bancorp,
Inc.
........
28,460
719,469‌
Farmers
National
Banc
Corp.
.............
82,401
1,136,310‌
FB
Bancorp,
Inc.
(a)
....................
39,994
449,932‌
Fidelity
D&D
Bancorp,
Inc.
...............
10,685
491,510‌
Fifth
District
Bancorp,
Inc.
(a)
..............
12,051
148,830‌
Financial
Institutions,
Inc.
...............
44,741
1,148,949‌
Finward
Bancorp
(b)
....................
7,878
217,590‌
Finwise
Bancorp
(a)
(b)
...................
20,316
304,943‌
First
Bancorp,
Inc.
(The)
................
24,373
619,318‌
First
Bank
..........................
48,704
753,451‌
First
Business
Financial
Services,
Inc.
.......
17,931
908,384‌
First
Capital,
Inc.
.....................
7,281
300,632‌
First
Community
Bankshares,
Inc.
.........
35,232
1,380,037‌
First
Community
Corp.
.................
16,730
407,877‌
First
Financial
Corp.
...................
25,761
1,395,989‌
First
Foundation,
Inc.
(a)
(b)
................
142,499
726,745‌
First
Guaranty
Bancshares,
Inc.
...........
13,793
113,378‌
First
Internet
Bancorp
..................
17,482
470,266‌
First
Mid
Bancshares,
Inc.
...............
46,901
1,758,318‌
First
National
Corp.
(b)
..................
17,478
340,297‌
First
Northwest
Bancorp
................
17,883
137,699‌
First
Savings
Financial
Group,
Inc.
.........
12,433
311,322‌
First
Seacoast
Bancorp
(a)
(b)
..............
8,522
96,299‌
First
United
Corp.
....................
13,542
419,937‌
First
US
Bancshares,
Inc.
...............
10,786
139,139‌
First
Western
Financial,
Inc.
(a)
............
18,608
419,796‌
Five
Star
Bancorp
....................
35,504
1,013,284‌
Flushing
Financial
Corp.
................
72,437
860,552‌
Franklin
Financial
Services
Corp.
..........
9,429
326,479‌
FS
Bancorp,
Inc.
.....................
14,977
589,794‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
2
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Banks
(continued)
FVCBankcorp,
Inc.
(a)
...................
35,472
$
418,570‌
GBank
Financial
Holdings,
Inc.
(a)
..........
18,863
667,939‌
Great
Southern
Bancorp,
Inc.
.............
19,392
1,139,862‌
Greene
County
Bancorp,
Inc.
.............
15,739
349,721‌
Guaranty
Bancshares,
Inc.
..............
20,143
854,869‌
Hanmi
Financial
Corp.
.................
67,941
1,676,784‌
Hanover
Bancorp,
Inc.
.................
10,810
247,441‌
HarborOne
Bancorp,
Inc.
...............
86,145
1,006,174‌
Hawthorn
Bancshares,
Inc.
..............
12,810
373,283‌
HBT
Financial,
Inc.
....................
28,703
723,603‌
Heritage
Commerce
Corp.
...............
135,616
1,346,667‌
Hingham
Institution
for
Savings
(The)
(b)
......
3,495
867,983‌
Home
Bancorp,
Inc.
...................
15,631
809,373‌
Home
Federal
Bancorp,
Inc.
of
Louisiana
.....
4,263
57,977‌
HomeStreet,
Inc.
(a)
....................
41,310
539,922‌
HomeTrust
Bancshares,
Inc.
.............
36,086
1,349,977‌
Horizon
Bancorp,
Inc.
..................
97,909
1,505,840‌
IF
Bancorp,
Inc.
......................
4,876
120,242‌
Independent
Bank
Corp.
................
42,497
1,377,328‌
Investar
Holding
Corp.
.................
20,648
398,919‌
John
Marshall
Bancorp,
Inc.
.............
28,402
526,289‌
Kearny
Financial
Corp.
.................
128,623
830,905‌
Lake
Shore
Bancorp,
Inc.
...............
4,457
70,510‌
Landmark
Bancorp,
Inc.
................
10,207
269,873‌
LCNB
Corp.
........................
30,585
444,400‌
LINKBANCORP,
Inc.
..................
48,525
354,718‌
Magyar
Bancorp,
Inc.
..................
12,835
216,013‌
MainStreet
Bancshares,
Inc.
.............
15,769
298,034‌
Mercantile
Bank
Corp.
.................
35,831
1,662,917‌
Meridian
Corp.
......................
20,388
262,801‌
Metrocity
Bankshares,
Inc.
..............
44,168
1,262,321‌
Metropolitan
Bank
Holding
Corp.
(a)
(b)
........
21,904
1,533,280‌
Mid
Penn
Bancorp,
Inc.
.................
45,003
1,269,085‌
Middlefield
Banc
Corp.
.................
16,390
493,503‌
Midland
States
Bancorp,
Inc.
.............
46,382
803,336‌
MidWestOne
Financial
Group,
Inc.
.........
46,157
1,327,937‌
MVB
Financial
Corp.
..................
25,998
585,735‌
National
Bankshares,
Inc.
...............
13,948
379,386‌
NB
Bancorp,
Inc.
(a)
....................
78,935
1,409,779‌
Northeast
Bank
......................
16,628
1,479,726‌
Northeast
Community
Bancorp,
Inc.
........
27,870
647,838‌
Northfield
Bancorp,
Inc.
................
84,912
974,790‌
Northpointe
Bancshares,
Inc.
.............
23,646
324,187‌
Northrim
Bancorp,
Inc.
.................
12,269
1,144,207‌
Norwood
Financial
Corp.
................
19,269
496,755‌
NSTS
Bancorp,
Inc.
(a)
(b)
.................
10,266
126,374‌
Oak
Valley
Bancorp
...................
15,387
419,142‌
Ohio
Valley
Banc
Corp.
.................
8,701
280,433‌
Old
Point
Financial
Corp.
(b)
..............
9,000
353,250‌
Old
Second
Bancorp,
Inc.
...............
98,186
1,741,820‌
OP
Bancorp
........................
26,626
345,872‌
OptimumBank
Holdings,
Inc.
(a)
............
21,618
96,632‌
Orange
County
Bancorp,
Inc.
.............
21,510
555,818‌
Origin
Bancorp,
Inc.
...................
66,949
2,392,757‌
Orrstown
Financial
Services,
Inc.
..........
42,220
1,343,863‌
Parke
Bancorp,
Inc.
...................
22,532
458,977‌
Pathfinder
Bancorp,
Inc.
................
7,146
109,620‌
Patriot
National
Bancorp,
Inc.
(a)
...........
97,619
148,381‌
PB
Bankshares,
Inc.
(a)
..................
4,758
84,074‌
PCB
Bancorp
.......................
24,702
518,248‌
Peapack-Gladstone
Financial
Corp.
........
36,116
1,020,277‌
Penns
Woods
Bancorp,
Inc.
..............
16,670
506,101‌
Peoples
Bancorp
of
North
Carolina,
Inc.
.....
9,525
274,796‌
Peoples
Bancorp,
Inc.
.................
78,930
2,410,522‌
Peoples
Financial
Services
Corp.
..........
20,929
1,033,265‌
Security
Shares
Shares
Value
Banks
(continued)
Pioneer
Bancorp,
Inc.
(a)
.................
25,323
$
304,636‌
Plumas
Bancorp
.....................
11,932
530,497‌
Ponce
Financial
Group,
Inc.
(a)
............
44,102
610,372‌
Preferred
Bank
......................
23,497
2,033,548‌
Primis
Financial
Corp.
..................
47,533
515,733‌
Princeton
Bancorp,
Inc.
.................
11,988
366,114‌
Provident
Bancorp,
Inc.
(a)
...............
36,129
451,251‌
Provident
Financial
Holdings,
Inc.
..........
11,830
183,365‌
QCR
Holdings,
Inc.
...................
37,208
2,526,423‌
RBB
Bancorp
.......................
38,059
654,995‌
Red
River
Bancshares,
Inc.
..............
10,631
624,040‌
Rhinebeck
Bancorp,
Inc.
(a)
(b)
..............
10,000
117,300‌
Richmond
Mutual
Bancorp,
Inc.
(b)
..........
20,442
282,100‌
Riverview
Bancorp,
Inc.
................
45,871
252,291‌
SB
Financial
Group,
Inc.
................
13,355
255,080‌
Shore
Bancshares,
Inc.
.................
69,911
1,099,001‌
Sierra
Bancorp
......................
28,358
841,949‌
SmartFinancial,
Inc.
...................
32,868
1,110,281‌
Sound
Financial
Bancorp,
Inc.
............
4,798
220,708‌
South
Plains
Financial,
Inc.
..............
29,010
1,045,520‌
Southern
First
Bancshares,
Inc.
(a)
..........
17,473
664,498‌
Southern
Missouri
Bancorp,
Inc.
...........
21,792
1,193,766‌
SR
Bancorp,
Inc.
(b)
....................
17,985
242,798‌
Sterling
Bancorp,
Inc.
(a)
(c)
................
46,554
—‌
Summit
State
Bank
...................
13,670
148,183‌
Texas
Community
Bancshares,
Inc.
........
4,621
74,167‌
Third
Coast
Bancshares,
Inc.
(a)
(b)
...........
28,936
945,339‌
Timberland
Bancorp,
Inc.
...............
16,844
525,533‌
TrustCo
Bank
Corp.
...................
41,797
1,396,856‌
Union
Bankshares,
Inc.
.................
8,182
217,805‌
United
Bancorp,
Inc.
...................
11,540
173,100‌
United
Security
Bancshares
..............
31,116
269,153‌
Unity
Bancorp,
Inc.
....................
16,544
778,892‌
Univest
Financial
Corp.
.................
64,966
1,951,579‌
USCB
Financial
Holdings,
Inc.
,
Class
A
......
23,977
396,580‌
Virginia
National
Bankshares
Corp.
.........
10,720
396,640‌
Washington
Trust
Bancorp,
Inc.
...........
43,526
1,230,915‌
West
Bancorp,
Inc.
....................
34,063
668,657‌
Western
New
England
Bancorp,
Inc.
........
41,553
383,534‌
141,894,987‌
Beverages
—
0.0%
(a)
Willamette
Valley
Vineyards,
Inc.
..........
9,539
52,655‌
Zevia
PBC
,
Class
A
(b)
..................
70,688
227,616‌
280,271‌
Biotechnology
—
10.5%
4D
Molecular
Therapeutics,
Inc.
(a)
(b)
.........
89,872
333,425‌
89bio,
Inc.
(a)
........................
280,916
2,758,595‌
Abeona
Therapeutics,
Inc.
(a)
(b)
............
98,078
557,083‌
Absci
Corp.
(a)
(b)
......................
244,910
629,419‌
Achieve
Life
Sciences,
Inc.
(a)
.............
62,887
142,125‌
Acrivon
Therapeutics,
Inc.
(a)
..............
44,054
52,424‌
Actinium
Pharmaceuticals,
Inc.
(a)
..........
69,511
97,315‌
Actuate
Therapeutics,
Inc.
(a)
(b)
.............
11,501
70,271‌
Acumen
Pharmaceuticals,
Inc.
(a)
...........
113,856
132,073‌
ADC
Therapeutics
SA
(a)
(b)
...............
162,289
434,935‌
Adicet
Bio,
Inc.
(a)
(b)
....................
12,860
7,845‌
Adverum
Biotechnologies,
Inc.
(a)
(b)
..........
37,175
79,926‌
Agenus,
Inc.
(a)
.......................
56,550
258,434‌
Akebia
Therapeutics,
Inc.
(a)
(b)
.............
563,278
2,050,332‌
Aldeyra
Therapeutics,
Inc.
(a)
(b)
.............
121,799
466,490‌
Alector,
Inc.
(a)
.......................
178,885
250,439‌
Altimmune,
Inc.
(a)
(b)
....................
173,762
672,459‌
ALX
Oncology
Holdings,
Inc.
(a)
............
10,107
4,195‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
3
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Biotechnology
(continued)
AnaptysBio,
Inc.
(a)
(b)
...................
43,780
$
971,916‌
Anavex
Life
Sciences
Corp.
(a)
(b)
...........
188,496
1,737,933‌
Anika
Therapeutics,
Inc.
(a)
...............
27,966
295,880‌
Anixa
Biosciences,
Inc.
(a)
................
67,887
224,027‌
Annexon,
Inc.
(a)
(b)
.....................
214,941
515,858‌
Applied
Therapeutics,
Inc.
(a)
..............
47,557
14,795‌
Arbutus
Biopharma
Corp.
(a)
(b)
.............
339,794
1,049,963‌
Arcturus
Therapeutics
Holdings,
Inc.
(a)
(b)
......
56,809
739,085‌
Armata
Pharmaceuticals,
Inc.
(a)
(b)
..........
23,941
45,488‌
ArriVent
Biopharma,
Inc.
(a)
(b)
..............
51,803
1,127,751‌
Artiva
Biotherapeutics,
Inc.
(a)
.............
15,632
23,604‌
Assembly
Biosciences,
Inc.
(a)
.............
10,524
190,695‌
Astria
Therapeutics,
Inc.
(a)
...............
96,025
514,694‌
Atara
Biotherapeutics,
Inc.
(a)
.............
9,216
71,148‌
Atossa
Therapeutics,
Inc.
(a)
..............
4,785
3,972‌
aTyr
Pharma,
Inc.
(a)
(b)
..................
191,076
968,755‌
Aura
Biosciences,
Inc.
(a)
(b)
...............
84,618
529,709‌
Avalo
Therapeutics,
Inc.
(a)
...............
20,351
101,552‌
Avita
Medical,
Inc.
(a)
(b)
..................
59,516
314,840‌
Benitec
Biopharma,
Inc.
(a)
(b)
..............
25,716
300,877‌
Beyondspring,
Inc.
(a)
(b)
..................
63,647
149,570‌
Biomea
Fusion,
Inc.
(a)
(b)
.................
64,408
115,934‌
Black
Diamond
Therapeutics,
Inc.
(a)
(b)
.......
103,238
256,030‌
Bolt
Biotherapeutics,
Inc.
(a)
..............
780
4,547‌
Boundless
Bio,
Inc.
(a)
..................
35,742
36,099‌
Bright
Minds
Biosciences,
Inc.
(a)
...........
10,267
268,071‌
C4
Therapeutics,
Inc.
(a)
.................
135,050
193,122‌
Cabaletta
Bio,
Inc.
(a)
...................
110,617
168,138‌
CAMP4
Therapeutics
Corp.
(a)
.............
11,189
16,224‌
Candel
Therapeutics,
Inc.
(a)
(b)
.............
88,255
446,570‌
Capricor
Therapeutics,
Inc.
(a)
(b)
............
86,423
858,180‌
Cardiff
Oncology,
Inc.
(a)
(b)
................
139,149
438,319‌
CareDx,
Inc.
(a)
.......................
122,771
2,398,945‌
Cargo
Therapeutics,
Inc.
(a)
(b)
..............
79,640
328,117‌
Caribou
Biosciences,
Inc.
(a)
..............
15,320
19,303‌
Cartesian
Therapeutics,
Inc.
(a)
(b)
...........
21,159
219,842‌
Celcuity,
Inc.
(a)
(b)
......................
64,576
862,090‌
Celularity,
Inc.
,
Class
A
(a)
(b)
...............
24,550
48,118‌
Century
Therapeutics,
Inc.
(a)
.............
13,977
7,809‌
CervoMed,
Inc.
(a)
.....................
13,176
82,811‌
Cibus,
Inc.
,
Class
A
(a)
..................
60,709
83,778‌
Cidara
Therapeutics,
Inc.
(a)
(b)
.............
37,892
1,845,719‌
Climb
Bio,
Inc.
(a)
......................
52,878
65,569‌
Cogent
Biosciences,
Inc.
(a)
...............
239,408
1,718,949‌
Coherus
Oncology,
Inc.
(a)
(b)
..............
238,946
174,741‌
Compass
Therapeutics,
Inc.
(a)
(b)
...........
205,844
535,194‌
Corbus
Pharmaceuticals
Holdings,
Inc.
(a)
.....
24,701
170,437‌
Corvus
Pharmaceuticals,
Inc.
(a)
(b)
..........
117,578
470,312‌
Coya
Therapeutics,
Inc.
(a)
(b)
..............
33,152
190,624‌
Cullinan
Therapeutics,
Inc.
(a)
.............
114,494
862,140‌
Design
Therapeutics,
Inc.
(a)
(b)
.............
70,792
238,569‌
DiaMedica
Therapeutics,
Inc.
(a)
(b)
..........
59,163
230,736‌
Dianthus
Therapeutics,
Inc.
(a)
(b)
............
43,912
818,081‌
Dyadic
International,
Inc.
(a)
(b)
.............
49,537
49,042‌
Editas
Medicine,
Inc.
(a)
.................
189,251
416,352‌
Eledon
Pharmaceuticals,
Inc.
(a)
(b)
..........
131,504
356,376‌
Elevation
Oncology,
Inc.
(a)
...............
11,080
4,068‌
Elicio
Therapeutics,
Inc.
(a)
(b)
..............
20,904
161,379‌
Elutia,
Inc.
,
Class
A
(a)
..................
47,127
93,312‌
Emergent
BioSolutions,
Inc.
(a)
(b)
...........
119,718
763,801‌
Enanta
Pharmaceuticals,
Inc.
(a)
...........
45,262
342,181‌
Entrada
Therapeutics,
Inc.
(a)
.............
63,087
423,945‌
Erasca,
Inc.
(a)
(b)
......................
389,538
494,713‌
Estrella
Immunopharma,
Inc.
(a)
(b)
...........
29,034
24,873‌
Exagen,
Inc.
(a)
(b)
......................
23,003
160,561‌
Security
Shares
Shares
Value
Biotechnology
(continued)
Exicure,
Inc.
(a)
.......................
2,620
$
18,445‌
eXoZymes,
Inc.
(a)
.....................
4,567
43,843‌
Fate
Therapeutics,
Inc.
(a)
................
243,311
272,508‌
Fennec
Pharmaceuticals,
Inc.
(a)
(b)
..........
52,511
435,841‌
Fibrobiologics,
Inc.
(a)
(b)
..................
67,778
42,172‌
Foghorn
Therapeutics,
Inc.
(a)
(b)
............
73,315
344,581‌
Forte
Biosciences,
Inc.
(a)
................
11,913
154,035‌
Fortress
Biotech,
Inc.
(a)
(b)
................
52,605
97,845‌
Gain
Therapeutics,
Inc.
(a)
................
63,583
114,449‌
Galectin
Therapeutics,
Inc.
(a)
(b)
............
99,383
209,698‌
Genelux
Corp.
(a)
(b)
....................
74,932
215,055‌
Generation
Bio
Co.
(a)
..................
20,976
6,714‌
Gossamer
Bio,
Inc.
(a)
(b)
.................
431,631
530,906‌
Greenwich
Lifesciences,
Inc.
(a)
(b)
...........
13,630
123,624‌
Heron
Therapeutics,
Inc.
(a)
(b)
..............
343,091
710,198‌
HilleVax,
Inc.
(a)
.......................
59,248
117,904‌
Humacyte,
Inc.
(a)
(b)
....................
281,161
587,627‌
IGM
Biosciences,
Inc.
(a)
.................
47,752
53,482‌
Immix
Biopharma,
Inc.
(a)
................
36,974
76,536‌
ImmuCell
Corp.
(a)
.....................
14,064
97,885‌
Immuneering
Corp.
,
Class
A
(a)
............
62,081
209,213‌
Immunic,
Inc.
(a)
(b)
.....................
215,028
149,982‌
Immunome,
Inc.
(a)
(b)
...................
166,279
1,546,395‌
Inhibikase
Therapeutics,
Inc.
(a)
............
132,208
257,806‌
Inhibrx
Biosciences,
Inc.
(a)
(b)
..............
20,565
293,463‌
Inmune
Bio,
Inc.
(a)
(b)
...................
37,495
86,613‌
Inovio
Pharmaceuticals,
Inc.
(a)
............
81,645
166,148‌
Inozyme
Pharma,
Inc.
(a)
................
108,751
435,004‌
Insight
Molecular
Diagnostics,
Inc.
(a)
(b)
.......
24,166
72,981‌
Instil
Bio,
Inc.
(a)
(b)
.....................
7,937
165,328‌
Invivyd,
Inc.
(a)
.......................
35,546
25,415‌
Ironwood
Pharmaceuticals,
Inc.
,
Class
A
(a)
....
357,601
256,471‌
iTeos
Therapeutics,
Inc.
(a)
...............
67,085
668,837‌
Jade
Biosciences,
Inc.
.................
58,247
581,888‌
Jasper
Therapeutics,
Inc.
(a)
..............
29,928
166,100‌
Kalaris
Therapeutics,
Inc.
(a)
..............
10,376
27,704‌
KalVista
Pharmaceuticals,
Inc.
(a)
(b)
..........
84,756
958,167‌
Karyopharm
Therapeutics,
Inc.
(a)
(b)
.........
17,704
76,304‌
Kezar
Life
Sciences,
Inc.
(a)
...............
13,866
63,506‌
Kiniksa
Pharmaceuticals
International
plc
(a)
...
8,000
221,360‌
Kodiak
Sciences,
Inc.
(a)
.................
73,430
273,894‌
Korro
Bio,
Inc.
(a)
(b)
.....................
14,864
185,651‌
Kyverna
Therapeutics,
Inc.
(a)
.............
50,993
156,549‌
Lantern
Pharma,
Inc.
(a)
(b)
................
17,989
56,845‌
Larimar
Therapeutics,
Inc.
(a)
..............
95,145
274,969‌
Lexeo
Therapeutics,
Inc.
(a)
(b)
..............
53,682
215,802‌
MacroGenics,
Inc.
(a)
...................
132,252
160,025‌
MAIA
Biotechnology,
Inc.
(a)
(b)
.............
50,929
91,672‌
MDxHealth
SA
(a)
.....................
78,816
174,183‌
MediciNova,
Inc.
(a)
....................
104,076
136,340‌
Medicus
Pharma
Ltd.
(a)
.................
14,508
43,379‌
MeiraGTx
Holdings
plc
(a)
................
94,242
614,458‌
Mersana
Therapeutics,
Inc.
(a)
.............
52,079
15,415‌
Metagenomi,
Inc.
(a)
....................
59,063
87,413‌
MiMedx
Group,
Inc.
(a)
..................
266,938
1,630,991‌
Mineralys
Therapeutics,
Inc.
(a)
............
87,814
1,188,123‌
MiNK
Therapeutics,
Inc.
(a)
...............
999
7,473‌
Monopar
Therapeutics,
Inc.
(a)
(b)
............
9,091
325,276‌
Monte
Rosa
Therapeutics,
Inc.
(a)
(b)
.........
104,690
472,152‌
Mural
Oncology
plc
(a)
..................
36,668
90,570‌
Neurogene,
Inc.
(a)
(b)
...................
22,159
331,277‌
Nkarta,
Inc.
(a)
........................
120,026
199,243‌
Nurix
Therapeutics,
Inc.
(a)
(b)
..............
169,909
1,935,264‌
Nuvectis
Pharma,
Inc.
(a)
(b)
...............
28,811
215,218‌
Ocugen,
Inc.
(a)
(b)
......................
57,544
55,841‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
4
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Biotechnology
(continued)
Olema
Pharmaceuticals,
Inc.
(a)
(b)
...........
133,571
$
569,013‌
OnKure
Therapeutics,
Inc.
(a)
..............
19,941
47,659‌
Organogenesis
Holdings,
Inc.
,
Class
A
(a)
(b)
....
153,363
561,309‌
ORIC
Pharmaceuticals,
Inc.
(a)
............
100,848
1,023,607‌
Oruka
Therapeutics,
Inc.
(b)
...............
55,729
624,722‌
OS
Therapies,
Inc.
(a)
(b)
..................
26,754
50,298‌
Outlook
Therapeutics,
Inc.
(a)
..............
47,050
75,280‌
Ovid
therapeutics,
Inc.
(a)
................
29,571
9,756‌
Palvella
Therapeutics,
Inc.
(a)
.............
15,211
342,856‌
PDS
Biotechnology
Corp.
(a)
(b)
.............
100,153
133,204‌
PepGen,
Inc.
(a)
......................
37,813
41,972‌
Perspective
Therapeutics,
Inc.
(a)
...........
133,591
459,553‌
PMV
Pharmaceuticals,
Inc.
(a)
(b)
............
96,468
102,256‌
Praxis
Precision
Medicines,
Inc.
(a)
..........
40,170
1,689,149‌
Precigen,
Inc.
(a)
(b)
.....................
336,368
477,643‌
Precision
BioSciences,
Inc.
(a)
(b)
............
18,642
78,296‌
Prelude
Therapeutics,
Inc.
(a)
..............
6,168
4,992‌
Prime
Medicine,
Inc.
(a)
..................
130,912
323,353‌
Protalix
BioTherapeutics,
Inc.
(a)
(b)
..........
156,226
231,215‌
Protara
Therapeutics,
Inc.
(a)
..............
72,263
218,957‌
Puma
Biotechnology,
Inc.
(a)
..............
95,250
326,708‌
Pyxis
Oncology,
Inc.
(a)
..................
107,532
118,285‌
Q32
Bio,
Inc.
(a)
.......................
2,867
4,272‌
Quince
Therapeutics,
Inc.
(a)
..............
76,202
125,733‌
Rallybio
Corp.
(a)
......................
11,649
3,937‌
Rein
Therapeutics,
Inc.
(a)
(b)
...............
45,674
63,944‌
Renovaro,
Inc.
(a)
.....................
55,723
16,098‌
Replimune
Group,
Inc.
(a)
(b)
...............
147,737
1,372,477‌
Rezolute,
Inc.
(a)
(b)
.....................
150,157
669,700‌
Rigel
Pharmaceuticals,
Inc.
(a)
.............
39,521
740,228‌
SAB
Biotherapeutics,
Inc.
(a)
..............
667
1,167‌
Sagimet
Biosciences,
Inc.
,
Class
A
(a)
(b)
.......
55,167
420,373‌
Savara,
Inc.
(a)
(b)
......................
283,643
646,706‌
SELLAS
Life
Sciences
Group,
Inc.
(a)
(b)
.......
200,123
438,269‌
Senti
Biosciences,
Inc.
(a)
................
16,628
35,085‌
Sera
Prognostics,
Inc.
,
Class
A
(a)
(b)
.........
62,867
174,142‌
Seres
Therapeutics,
Inc.
(a)
(b)
..............
13,572
150,785‌
Serina
Therapeutics,
Inc.
(a)
..............
8,131
50,087‌
Shattuck
Labs,
Inc.
(a)
..................
17,774
14,073‌
Sionna
Therapeutics,
Inc.
(a)
..............
20,763
360,238‌
Skye
Bioscience,
Inc.
(a)
.................
42,282
176,739‌
Solid
Biosciences,
Inc.
(a)
(b)
...............
147,209
716,908‌
Stoke
Therapeutics,
Inc.
(a)
(b)
..............
92,007
1,044,279‌
Surrozen,
Inc.
(a)
......................
11,662
104,258‌
Sutro
Biopharma,
Inc.
(a)
.................
177,741
126,889‌
Tango
Therapeutics,
Inc.
(a)
(b)
..............
169,905
869,914‌
Taysha
Gene
Therapies,
Inc.
(a)
(b)
...........
371,837
858,944‌
Tectonic
Therapeutic,
Inc.
(a)
(b)
.............
23,861
474,118‌
Tenaya
Therapeutics,
Inc.
(a)
..............
23,358
14,276‌
Tevogen
Bio
Holdings,
Inc.
(a)
(b)
............
60,061
75,076‌
Tonix
Pharmaceuticals
Holding
Corp.
(a)
(b)
.....
12,749
458,709‌
Tourmaline
Bio,
Inc.
(a)
..................
42,783
684,100‌
TriSalus
Life
Sciences,
Inc.
(a)
.............
36,654
199,764‌
TScan
Therapeutics,
Inc.
(a)
(b)
.............
97,728
141,706‌
TuHURA
Biosciences,
Inc.
(a)
(b)
............
51,840
115,603‌
Tyra
Biosciences,
Inc.
(a)
(b)
...............
54,052
517,278‌
UroGen
Pharma
Ltd.
(a)
(b)
................
82,849
1,135,031‌
Vanda
Pharmaceuticals,
Inc.
(a)
............
125,186
590,878‌
Verastem,
Inc.
(a)
(b)
.....................
101,804
422,487‌
Verve
Therapeutics,
Inc.
(a)
...............
154,104
1,730,588‌
Vigil
Neuroscience,
Inc.
(a)
...............
62,795
499,220‌
Viridian
Therapeutics,
Inc.
(a)
(b)
.............
156,521
2,188,164‌
Vistagen
Therapeutics,
Inc.
(a)
.............
65,012
130,024‌
Voyager
Therapeutics,
Inc.
(a)
.............
104,585
325,259‌
vTv
Therapeutics,
Inc.
,
Class
A
(a)
..........
3,438
50,676‌
Security
Shares
Shares
Value
Biotechnology
(continued)
Werewolf
Therapeutics,
Inc.
(a)
............
10,714
$
11,678‌
Whitehawk
Therapeutics,
Inc.
(a)
(b)
..........
88,847
166,144‌
X4
Pharmaceuticals,
Inc.
(a)
..............
2,429
4,615‌
XBiotech,
Inc.
(a)
......................
44,837
133,166‌
XOMA
Royalty
Corp.
(a)
.................
21,328
537,466‌
Y-mAbs
Therapeutics,
Inc.
(a)
(b)
............
82,664
372,815‌
Zenas
Biopharma,
Inc.
(a)
(b)
...............
36,432
353,026‌
Zentalis
Pharmaceuticals,
Inc.
(a)
...........
127,877
148,337‌
Zura
Bio
Ltd.
,
Class
A
(a)
.................
110,305
115,820‌
Zymeworks,
Inc.
(a)
(b)
...................
110,463
1,386,311‌
85,651,337‌
Broadline
Retail
—
0.2%
(a)(b)
1stdibs.com,
Inc.
.....................
56,186
154,512‌
Groupon,
Inc.
.......................
56,398
1,886,513‌
2,041,025‌
Building
Products
—
0.5%
Alpha
Pro
Tech
Ltd.
(a)
..................
21,202
99,437‌
Caesarstone
Ltd.
(a)
(b)
...................
45,129
88,904‌
Insteel
Industries,
Inc.
..................
41,964
1,561,480‌
Quanex
Building
Products
Corp.
...........
106,765
2,017,859‌
3,767,680‌
Capital
Markets
—
0.5%
Aether
Holdings,
Inc.
(a)
(b)
................
4,657
63,545‌
AlTi
Global,
Inc.
,
Class
A
(a)
...............
97,126
403,073‌
B
Riley
Financial,
Inc.
(a)
.................
36,701
109,002‌
Bakkt
Holdings,
Inc.
,
Class
A
(a)
(b)
...........
11,885
165,796‌
Binah
Capital
Group,
Inc.
(a)
(b)
.............
9,469
19,222‌
Diamond
Hill
Investment
Group,
Inc.
........
6,163
895,545‌
Dominari
Holdings,
Inc.
.................
15,879
86,382‌
Forge
Global
Holdings,
Inc.
(a)
(b)
............
22,879
435,616‌
Great
Elm
Group,
Inc.
(a)
................
30,244
63,815‌
Hennessy
Advisors,
Inc.
................
10,883
137,126‌
Heritage
Global,
Inc.
(a)
(b)
................
69,805
154,967‌
MarketWise,
Inc.
.....................
4,903
97,030‌
MDB
Capital
Holdings
LLC
,
Class
A
(a)
.......
1,642
6,814‌
Open
Lending
Corp.
,
Class
A
(a)
............
229,538
445,304‌
Siebert
Financial
Corp.
(a)
(b)
...............
31,657
139,924‌
Silvercrest
Asset
Management
Group,
Inc.
,
Class
A
.............................
18,394
291,729‌
Value
Line,
Inc.
......................
1,728
67,651‌
Westwood
Holdings
Group,
Inc.
...........
16,832
262,579‌
3,845,120‌
Chemicals
—
1.1%
AdvanSix,
Inc.
.......................
59,007
1,401,416‌
American
Vanguard
Corp.
(a)
..............
58,335
228,673‌
Arq,
Inc.
(a)
..........................
70,912
380,797‌
ASP
Isotopes,
Inc.
(a)
(b)
..................
127,519
938,540‌
Aspen
Aerogels,
Inc.
(a)
(b)
................
150,112
888,663‌
Core
Molding
Technologies,
Inc.
(a)
(b)
.........
19,044
315,940‌
Flexible
Solutions
International,
Inc.
........
15,006
72,779‌
Flotek
Industries,
Inc.
(a)
.................
32,018
472,586‌
Ginkgo
Bioworks
Holdings,
Inc.
(a)
(b)
.........
78,450
882,563‌
Intrepid
Potash,
Inc.
(a)
..................
24,395
871,633‌
Koppers
Holdings,
Inc.
.................
43,358
1,393,960‌
Northern
Technologies
International
Corp.
....
17,827
132,098‌
Rayonier
Advanced
Materials,
Inc.
(a)
........
144,472
556,217‌
Solesence,
Inc.
(a)
.....................
39,044
170,232‌
Trinseo
plc
.........................
76,274
237,975‌
Valhi,
Inc.
..........................
5,449
88,056‌
9,032,128‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
5
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Commercial
Services
&
Supplies
—
1.4%
ACCO
Brands
Corp.
...................
196,046
$
701,845‌
Acme
United
Corp.
....................
7,117
295,000‌
Bridger
Aerospace
Group
Holdings,
Inc.
(a)
....
72,796
140,496‌
CECO
Environmental
Corp.
(a)
(b)
...........
65,772
1,862,005‌
CompX
International,
Inc.
...............
3,450
91,666‌
Ennis,
Inc.
.........................
55,925
1,014,480‌
Enviri
Corp.
(a)
(b)
......................
171,612
1,489,592‌
Interface,
Inc.
.......................
130,572
2,732,872‌
Knightscope,
Inc.
,
Class
A
(a)
..............
14,575
72,000‌
LanzaTech
Global,
Inc.
(a)
................
44,479
12,063‌
Liquidity
Services,
Inc.
(a)
................
52,218
1,231,823‌
Mobile
Infrastructure
Corp.
(a)
(b)
............
32,609
147,719‌
NL
Industries,
Inc.
....................
18,790
120,256‌
Odyssey
Marine
Exploration,
Inc.
(a)
(b)
........
57,999
68,439‌
Perma-Fix
Environmental
Services,
Inc.
(a)
(b)
...
38,797
408,144‌
Quad/Graphics,
Inc.
,
Class
A
.............
64,977
367,120‌
Quest
Resource
Holding
Corp.
(a)
...........
35,310
71,326‌
Team,
Inc.
(a)
(b)
.......................
6,186
112,585‌
Virco
Mfg.
Corp.
.....................
24,749
197,497‌
11,136,928‌
Communications
Equipment
—
2.1%
ADTRAN
Holdings,
Inc.
(a)
...............
167,811
1,505,265‌
Applied
Optoelectronics,
Inc.
(a)
(b)
...........
120,937
3,106,872‌
Aviat
Networks,
Inc.
(a)
(b)
.................
25,990
625,060‌
BK
Technologies
Corp.
(a)
................
6,113
288,106‌
Clearfield,
Inc.
(a)
(b)
.....................
26,382
1,145,243‌
CommScope
Holding
Co.,
Inc.
(a)
...........
480,074
3,975,013‌
Comtech
Telecommunications
Corp.
(a)
(b)
......
59,814
146,544‌
Digi
International,
Inc.
(a)
(b)
...............
82,033
2,859,670‌
Franklin
Wireless
Corp.
(a)
(b)
..............
20,152
84,235‌
Genasys,
Inc.
(a)
(b)
.....................
93,765
162,213‌
Inseego
Corp.
(a)
(b)
.....................
27,750
228,660‌
KVH
Industries,
Inc.
(a)
..................
29,626
157,907‌
Lantronix,
Inc.
(a)
(b)
.....................
72,185
207,171‌
NETGEAR,
Inc.
(a)
.....................
62,535
1,817,892‌
Network-1
Technologies,
Inc.
.............
4,074
4,970‌
Ribbon
Communications,
Inc.
(a)
...........
210,322
843,391‌
17,158,212‌
Construction
&
Engineering
—
1.7%
Bowman
Consulting
Group
Ltd.
(a)
..........
31,553
907,149‌
Concrete
Pumping
Holdings,
Inc.
..........
50,704
311,830‌
Great
Lakes
Dredge
&
Dock
Corp.
(a)
........
150,088
1,829,573‌
INNOVATE
Corp.
(a)
....................
13,165
67,800‌
JFB
Construction
Holdings
,
Class
A
(a)
.......
2,682
17,741‌
Limbach
Holdings,
Inc.
(a)
................
23,869
3,344,047‌
Matrix
Service
Co.
(a)
...................
59,847
808,533‌
NWPX
Infrastructure,
Inc.
(a)
..............
21,795
893,813‌
Orion
Group
Holdings,
Inc.
(a)
.............
84,631
767,603‌
Shimmick
Corp.
(a)
.....................
6,198
10,846‌
Southland
Holdings,
Inc.
(a)
(b)
..............
24,006
100,345‌
Tutor
Perini
Corp.
(a)
...................
100,201
4,687,403‌
13,746,683‌
Construction
Materials
—
0.0%
Smith-Midland
Corp.
(a)
(b)
................
6,248
209,683‌
Consumer
Finance
—
1.5%
Atlanticus
Holdings
Corp.
(a)
(b)
.............
11,980
655,905‌
Consumer
Portfolio
Services,
Inc.
(a)
.........
20,787
204,336‌
Dave,
Inc.
,
Class
A
(a)
(b)
.................
20,861
5,599,301‌
DeFi
Development
Corp.
(a)
...............
11,649
249,754‌
LendingTree,
Inc.
(a)
....................
25,071
929,382‌
Medallion
Financial
Corp.
...............
36,711
349,856‌
NerdWallet,
Inc.
,
Class
A
(a)
...............
92,837
1,018,422‌
Security
Shares
Shares
Value
Consumer
Finance
(continued)
Old
Market
Capital
Corp.
(a)
(b)
.............
10,897
$
59,716‌
Oportun
Financial
Corp.
(a)
(b)
..............
75,068
537,487‌
OppFi,
Inc.
,
Class
A
...................
54,461
761,909‌
Regional
Management
Corp.
.............
20,808
607,802‌
Vroom,
Inc.
(a)
(b)
.......................
1,931
55,053‌
World
Acceptance
Corp.
(a)
(b)
..............
7,581
1,251,775‌
12,280,698‌
Consumer
Staples
Distribution
&
Retail
—
0.5%
HF
Foods
Group,
Inc.
(a)
.................
89,839
285,688‌
Natural
Grocers
by
Vitamin
Cottage,
Inc.
.....
28,655
1,124,709‌
SpartanNash
Co.
.....................
75,992
2,013,028‌
Village
Super
Market,
Inc.
,
Class
A
.........
20,618
793,793‌
4,217,218‌
Containers
&
Packaging
—
0.2%
Myers
Industries,
Inc.
..................
83,351
1,207,756‌
Ranpak
Holdings
Corp.
,
Class
A
(a)
.........
105,285
375,867‌
1,583,623‌
Distributors
—
0.2%
A-Mark
Precious
Metals,
Inc.
.............
42,659
946,177‌
AMCON
Distributing
Co.
................
272
29,947‌
Weyco
Group,
Inc.
....................
13,817
458,172‌
1,434,296‌
Diversified
Consumer
Services
—
0.6%
American
Public
Education,
Inc.
(a)
(b)
.........
39,043
1,189,250‌
Carriage
Services,
Inc.
.................
31,959
1,461,805‌
European
Wax
Center,
Inc.
,
Class
A
(a)
.......
65,457
368,523‌
Legacy
Education,
Inc.
(a)
................
19,037
212,834‌
Lincoln
Educational
Services
Corp.
(a)
........
66,863
1,541,192‌
Nerdy,
Inc.
,
Class
A
(a)
(b)
.................
130,622
212,914‌
Regis
Corp.
(a)
.......................
4,639
103,403‌
Zspace,
Inc.
(a)
(b)
......................
4,160
13,561‌
5,103,482‌
Diversified
REITs
—
0.6%
Alpine
Income
Property
Trust,
Inc.
.........
28,392
417,646‌
CTO
Realty
Growth,
Inc.
................
68,413
1,180,809‌
Gladstone
Commercial
Corp.
.............
103,304
1,480,346‌
Modiv
Industrial,
Inc.
,
Class
C
............
20,953
295,018‌
NexPoint
Diversified
Real
Estate
Trust
......
78,306
328,102‌
One
Liberty
Properties,
Inc.
..............
41,489
989,928‌
4,691,849‌
Diversified
Telecommunication
Services
—
0.6%
Anterix,
Inc.
(a)
(b)
......................
29,029
744,594‌
ATN
International,
Inc.
.................
22,301
362,391‌
Bandwidth,
Inc.
,
Class
A
(a)
...............
60,326
959,183‌
IDT
Corp.
,
Class
B
....................
36,665
2,504,953‌
4,571,121‌
Electric
Utilities
—
0.2%
Genie
Energy
Ltd.
,
Class
B
..............
48,014
1,290,616‌
Electrical
Equipment
—
1.9%
Allient,
Inc.
.........................
32,342
1,174,338‌
American
Superconductor
Corp.
(a)
(b)
........
85,953
3,153,615‌
Amprius
Technologies,
Inc.
(a)
(b)
............
209,076
880,210‌
Blink
Charging
Co.
(a)
...................
23,724
22,298‌
Broadwind,
Inc.
(a)
(b)
....................
43,954
79,557‌
Complete
Solaria,
Inc.
(a)
(b)
...............
134,564
247,598‌
Energy
Vault
Holdings,
Inc.
(a)
.............
12,266
8,792‌
Espey
Mfg.
&
Electronics
Corp.
...........
4,698
214,746‌
FTC
Solar,
Inc.
(a)
.....................
15,192
68,820‌
FuelCell
Energy,
Inc.
(a)
(b)
................
47,777
268,029‌
Hyliion
Holdings
Corp.
,
Class
A
(a)
(b)
.........
290,432
383,370‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
6
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Electrical
Equipment
(continued)
Ideal
Power,
Inc.
(a)
....................
16,939
$
76,734‌
KULR
Technology
Group,
Inc.
(a)
...........
73,863
526,643‌
LSI
Industries,
Inc.
....................
59,766
1,016,620‌
NANO
Nuclear
Energy,
Inc.
(a)
(b)
............
60,041
2,070,814‌
NeoVolta,
Inc.
(a)
(b)
.....................
64,287
212,147‌
Power
Solutions
International,
Inc.
(a)
(b)
.......
14,711
951,507‌
Preformed
Line
Products
Co.
.............
5,442
869,686‌
Servotronics,
Inc.
(a)
....................
2,043
95,898‌
SKYX
Platforms
Corp.
(a)
(b)
...............
138,062
144,275‌
SolarMax
Technology,
Inc.
(a)
..............
69,892
76,182‌
Stem,
Inc.
(a)
(b)
.......................
2,292
14,278‌
T1
Energy,
Inc.
(a)
(b)
....................
249,907
307,386‌
Thermon
Group
Holdings,
Inc.
(a)
...........
75,099
2,108,780‌
Tigo
Energy,
Inc.
(a)
....................
5,244
6,686‌
TPI
Composites,
Inc.
(a)
.................
8,630
7,416‌
Ultralife
Corp.
(a)
......................
23,011
206,639‌
Zeo
Energy
Corp.
(a)
...................
9,368
27,167‌
15,220,231‌
Electronic
Equipment,
Instruments
&
Components
—
3.8%
908
Devices,
Inc.
(a)
(b)
...................
61,471
438,288‌
Aeva
Technologies,
Inc.
(a)
(b)
..............
68,039
2,571,194‌
Airgain,
Inc.
(a)
.......................
22,773
94,508‌
AmpliTech
Group,
Inc.
(a)
................
37,110
78,673‌
Arlo
Technologies,
Inc.
(a)
(b)
...............
223,720
3,794,291‌
Bel
Fuse,
Inc.
,
Class
A
.................
3,710
333,344‌
Bel
Fuse,
Inc.
,
Class
B,
NVS
(b)
............
23,432
2,289,072‌
Climb
Global
Solutions,
Inc.
..............
8,700
930,117‌
Coda
Octopus
Group,
Inc.
(a)
(b)
............
12,346
100,990‌
Daktronics,
Inc.
(a)
(b)
....................
92,847
1,403,847‌
Evolv
Technologies
Holdings,
Inc.
(a)
(b)
.......
260,896
1,627,991‌
FARO
Technologies,
Inc.
(a)
...............
42,789
1,879,293‌
Focus
Universal,
Inc.
(a)
.................
6,853
28,029‌
Frequency
Electronics,
Inc.
..............
14,764
335,290‌
Identiv,
Inc.
(a)
(b)
.......................
46,124
150,364‌
Key
Tronic
Corp.
(a)
....................
1,426
4,078‌
Kimball
Electronics,
Inc.
(a)
...............
54,724
1,052,343‌
LGL
Group,
Inc.
(The)
(a)
................
8,067
61,471‌
LightPath
Technologies,
Inc.
,
Class
A
(a)
(b)
.....
83,509
257,208‌
Lightwave
Logic,
Inc.
(a)
.................
23,963
29,714‌
Methode
Electronics,
Inc.
...............
75,945
722,237‌
MicroVision,
Inc.
(a)
(b)
...................
549,836
626,813‌
M-Tron
Industries,
Inc.
(a)
................
5,429
228,018‌
Neonode,
Inc.
(a)
(b)
.....................
23,466
598,383‌
nLight,
Inc.
(a)
........................
108,251
2,130,380‌
Ouster,
Inc.
,
Class
A
(a)
..................
114,393
2,774,030‌
Powerfleet,
Inc.
(a)
.....................
280,693
1,209,787‌
Red
Cat
Holdings,
Inc.
(a)
(b)
...............
168,054
1,223,433‌
Research
Frontiers,
Inc.
(a)
(b)
..............
61,504
99,637‌
RF
Industries
Ltd.
(a)
...................
18,788
121,558‌
Richardson
Electronics
Ltd.
..............
27,042
260,955‌
ScanSource,
Inc.
(a)
....................
49,116
2,053,540‌
SmartRent,
Inc.
,
Class
A
(a)
...............
13,702
13,565‌
Sono-Tek
Corp.
(a)
.....................
15,663
59,519‌
Syntec
Optics
Holdings,
Inc.
(a)
............
12,492
16,739‌
Unusual
Machines,
Inc.
(a)
...............
33,769
289,400‌
Vishay
Precision
Group,
Inc.
(a)
(b)
...........
26,873
755,131‌
Vuzix
Corp.
(a)
(b)
......................
144,027
420,559‌
Wrap
Technologies,
Inc.
(a)
(b)
..............
77,353
120,671‌
31,184,460‌
Energy
Equipment
&
Services
—
1.2%
Bristow
Group,
Inc.
(a)
(b)
.................
64,129
2,114,333‌
Dawson
Geophysical
Co.
(a)
..............
15,274
22,300‌
DMC
Global,
Inc.
(a)
....................
43,414
349,917‌
Security
Shares
Shares
Value
Energy
Equipment
&
Services
(continued)
Drilling
Tools
International
Corp.
(a)
(b)
.........
39,637
$
112,966‌
Energy
Services
of
America
Corp.
(b)
........
26,146
259,891‌
Forum
Energy
Technologies,
Inc.
(a)
.........
24,956
485,893‌
Geospace
Technologies
Corp.
(a)
...........
26,639
379,872‌
Gulf
Island
Fabrication,
Inc.
(a)
(b)
............
33,582
223,320‌
KLX
Energy
Services
Holdings,
Inc.
(a)
(b)
......
32,916
61,553‌
Mammoth
Energy
Services,
Inc.
(a)
..........
54,288
152,006‌
MIND
Technology,
Inc.
(a)
(b)
...............
17,661
149,059‌
National
Energy
Services
Reunited
Corp.
(a)
(b)
..
124,987
752,422‌
Natural
Gas
Services
Group,
Inc.
(a)
.........
22,819
588,958‌
NCS
Multistage
Holdings,
Inc.
(a)
...........
1,800
53,154‌
Oil
States
International,
Inc.
(a)
.............
131,488
704,776‌
Ranger
Energy
Services,
Inc.
,
Class
A
.......
38,555
460,347‌
SEACOR
Marine
Holdings,
Inc.
(a)
..........
46,309
236,176‌
Select
Water
Solutions,
Inc.
,
Class
A
........
209,627
1,811,177‌
Smart
Sand,
Inc.
.....................
65,748
132,154‌
TETRA
Technologies,
Inc.
(a)
(b)
.............
285,162
958,144‌
10,008,418‌
Entertainment
—
0.4%
Cineverse
Corp.
(a)
....................
29,317
140,135‌
CuriosityStream,
Inc.
,
Class
A
............
71,756
403,986‌
Eventbrite,
Inc.
,
Class
A
(a)
...............
166,844
438,800‌
Gaia,
Inc.
,
Class
A
(a)
...................
38,083
167,184‌
Golden
Matrix
Group,
Inc.
(a)
(b)
.............
33,374
56,736‌
LiveOne,
Inc.
(a)
......................
11,880
8,968‌
Marcus
Corp.
(The)
...................
53,392
900,189‌
Mega
Matrix,
Inc.
(a)
....................
7,893
9,156‌
Playstudios,
Inc.
,
Class
A
(a)
..............
197,545
258,784‌
PodcastOne,
Inc.
(a)
....................
9,747
23,685‌
Reading
International,
Inc.
,
Class
A,
NVS
(a)
...
6,681
8,953‌
Reservoir
Media,
Inc.
(a)
.................
45,653
350,159‌
Skillz,
Inc.
,
Class
A
(a)
(b)
.................
25,004
170,527‌
Starz
Entertainment
Corp.
...............
29,121
467,975‌
3,405,237‌
Financial
Services
—
1.1%
Acacia
Research
Corp.
(a)
(b)
...............
76,678
274,507‌
Alerus
Financial
Corp.
.................
50,657
1,096,217‌
Better
Home
&
Finance
Holding
Co.
(a)
.......
10,903
135,088‌
Cantaloupe,
Inc.
(a)
....................
119,376
1,311,942‌
Cass
Information
Systems,
Inc.
...........
27,388
1,190,009‌
Finance
of
America
Cos.,
Inc.
,
Class
A
(a)
.....
9,936
231,707‌
FlexShopper,
Inc.
(a)
...................
24,094
28,913‌
International
Money
Express,
Inc.
(a)
.........
63,040
636,074‌
loanDepot,
Inc.
,
Class
A
(a)
(b)
..............
181,998
231,137‌
NewtekOne,
Inc.
.....................
55,893
630,473‌
Onity
Group,
Inc.
(a)
....................
14,887
568,237‌
Paysign,
Inc.
(a)
.......................
77,143
555,430‌
Priority
Technology
Holdings,
Inc.
(a)
.........
56,020
435,836‌
Security
National
Financial
Corp.
,
Class
A
(a)
...
32,559
320,706‌
SWK
Holdings
Corp.
..................
7,004
103,239‌
Triller
Group,
Inc.
(a)
(b)
...................
215,989
200,978‌
Usio,
Inc.
(a)
.........................
38,090
58,278‌
Velocity
Financial,
Inc.
(a)
................
25,161
466,485‌
Waterstone
Financial,
Inc.
...............
35,813
494,577‌
XBP
Europe
Holdings,
Inc.
(a)
(b)
............
24,261
22,563‌
8,992,396‌
Food
Products
—
0.7%
Alico,
Inc.
..........................
12,120
396,082‌
Barfresh
Food
Group,
Inc.
(a)
..............
12,148
42,032‌
Beyond
Meat,
Inc.
(a)
(b)
..................
165,151
576,377‌
Bridgford
Foods
Corp.
(a)
(b)
...............
3,392
26,763‌
Calavo
Growers,
Inc.
..................
37,831
1,005,926‌
Farmer
Bros
Co.
(a)
....................
37,184
50,942‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
7
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Food
Products
(continued)
Forafric
Global
plc
(a)
(b)
..................
11,472
$
89,482‌
Laird
Superfood,
Inc.
(a)
.................
19,474
122,686‌
Lifeway
Foods,
Inc.
(a)
..................
11,535
284,338‌
Limoneira
Co.
.......................
37,449
586,077‌
Mama's
Creations,
Inc.
(a)
................
76,560
635,448‌
Seneca
Foods
Corp.
,
Class
A
(a)
...........
10,338
1,048,583‌
SunOpta,
Inc.
(a)
......................
216,279
1,254,418‌
6,119,154‌
Gas
Utilities
—
0.1%
RGC
Resources,
Inc.
..................
18,860
422,087‌
Ground
Transportation
—
0.4%
Armlogi
Holding
Corp.
(a)
................
22,147
35,878‌
Covenant
Logistics
Group,
Inc.
,
Class
A
......
36,826
887,875‌
FTAI
Infrastructure,
Inc.
.................
220,545
1,360,763‌
PAMT
Corp.
(a)
.......................
13,455
173,166‌
Proficient
Auto
Logistics,
Inc.
(a)
(b)
...........
52,875
383,872‌
Universal
Logistics
Holdings,
Inc.
..........
15,174
385,116‌
3,226,670‌
Health
Care
Equipment
&
Supplies
—
3.2%
Accuray,
Inc.
(a)
.......................
227,145
311,189‌
AngioDynamics,
Inc.
(a)
.................
87,163
864,657‌
Anteris
Technologies
Global
Corp.
(a)
........
48,198
182,670‌
Apyx
Medical
Corp.
(a)
..................
72,401
162,902‌
Artivion,
Inc.
(a)
.......................
85,855
2,670,090‌
AxoGen,
Inc.
(a)
.......................
98,486
1,068,573‌
Bioventus,
Inc.
,
Class
A
(a)
...............
103,405
684,541‌
Butterfly
Network,
Inc.
,
Class
A
(a)
(b)
.........
430,665
861,330‌
Ceribell,
Inc.
(a)
.......................
55,922
1,047,419‌
Cerus
Corp.
(a)
.......................
419,547
591,561‌
ClearPoint
Neuro,
Inc.
(a)
(b)
...............
58,172
694,574‌
CVRx,
Inc.
(a)
........................
36,018
211,786‌
CytoSorbents
Corp.
(a)
(b)
.................
109,159
139,723‌
Delcath
Systems,
Inc.
(a)
.................
66,437
903,543‌
ElectroCore,
Inc.
(a)
(b)
...................
13,296
70,203‌
Electromed,
Inc.
(a)
(b)
...................
15,664
344,451‌
Envoy
Medical,
Inc.
,
Class
A
(a)
............
21,567
30,625‌
enVVeno
Medical
Corp.
(a)
(b)
..............
39,301
156,811‌
Femasys,
Inc.
(a)
(b)
.....................
52,985
51,173‌
FONAR
Corp.
(a)
(b)
.....................
13,778
206,119‌
Fractyl
Health,
Inc.
(a)
...................
59,650
96,633‌
HeartBeam,
Inc.
(a)
(b)
...................
58,808
73,510‌
Inogen,
Inc.
(a)
(b)
......................
53,363
375,142‌
InspireMD,
Inc.
(a)
.....................
33,910
76,976‌
iRadimed
Corp.
......................
18,300
1,094,157‌
Kewaunee
Scientific
Corp.
(a)
(b)
............
4,947
290,389‌
KORU
Medical
Systems,
Inc.
(a)
............
95,086
340,408‌
LENSAR,
Inc.
(a)
......................
20,751
273,291‌
Lucid
Diagnostics,
Inc.
(a)
................
154,360
177,514‌
Microbot
Medical,
Inc.
(a)
................
77,854
196,192‌
Modular
Medical,
Inc.
(a)
.................
107,975
80,441‌
Monogram
Technologies,
Inc.
(a)
(b)
..........
52,693
152,283‌
Myomo,
Inc.
(a)
(b)
......................
72,992
157,663‌
Neuronetics,
Inc.
(a)
(b)
...................
81,028
282,788‌
NeuroPace,
Inc.
(a)
....................
49,972
556,688‌
Odysight.ai,
Inc.
(a)
....................
11,442
58,354‌
OraSure
Technologies,
Inc.
(a)
.............
168,795
506,385‌
Orchestra
BioMed
Holdings,
Inc.
(a)
.........
52,951
141,909‌
Orthofix
Medical,
Inc.
(a)
.................
87,100
971,165‌
OrthoPediatrics
Corp.
(a)
(b)
................
38,004
816,326‌
Outset
Medical,
Inc.
(a)
(b)
.................
31,965
614,048‌
Owlet,
Inc.
,
Class
A
(a)
(b)
.................
23,037
193,511‌
Precision
Optics
Corp.,
Inc.
(a)
.............
13,472
65,609‌
Pro-Dex,
Inc.
(a)
(b)
.....................
4,744
207,028‌
Security
Shares
Shares
Value
Health
Care
Equipment
&
Supplies
(continued)
Pulmonx
Corp.
(a)
.....................
85,567
$
221,618‌
Pulse
Biosciences,
Inc.
(a)
(b)
...............
39,785
600,356‌
Retractable
Technologies,
Inc.
(a)
...........
4,032
2,578‌
Rockwell
Medical,
Inc.
(a)
................
70,805
60,043‌
Sanara
Medtech,
Inc.
(a)
(b)
................
6,940
197,027‌
SANUWAVE
Health,
Inc.
(a)
...............
11,753
386,204‌
Semler
Scientific,
Inc.
(a)
(b)
................
18,791
727,963‌
Sensus
Healthcare,
Inc.
(a)
(b)
..............
31,882
151,121‌
SI-BONE,
Inc.
(a)
......................
85,696
1,612,799‌
Sight
Sciences,
Inc.
(a)
..................
92,562
382,281‌
Spectral
AI,
Inc.
,
Class
A
(a)
(b)
..............
36,986
91,725‌
Stereotaxis,
Inc.
(a)
(b)
...................
128,307
272,011‌
Surmodics,
Inc.
(a)
.....................
31,273
929,121‌
Tactile
Systems
Technology,
Inc.
(a)
(b)
........
52,689
534,266‌
Tela
Bio,
Inc.
(a)
(b)
......................
66,314
128,649‌
Utah
Medical
Products,
Inc.
..............
7,013
399,180‌
Vicarious
Surgical,
Inc.
,
Class
A
(a)
..........
6,653
49,897‌
Vivani
Medical,
Inc.
(a)
(b)
.................
67,826
87,496‌
Zimvie,
Inc.
(a)
........................
61,507
575,090‌
Zynex,
Inc.
(a)
(b)
.......................
35,430
91,409‌
26,553,184‌
Health
Care
Providers
&
Services
—
1.4%
AirSculpt
Technologies,
Inc.
(a)
(b)
...........
28,676
138,505‌
Aveanna
Healthcare
Holdings,
Inc.
(a)
........
104,984
549,066‌
Castle
Biosciences,
Inc.
(a)
...............
63,780
1,302,388‌
Cross
Country
Healthcare,
Inc.
(a)
..........
70,212
916,267‌
Cryo-Cell
International,
Inc.
(b)
.............
10,953
56,846‌
DocGo,
Inc.
(a)
(b)
......................
204,352
320,833‌
InfuSystem
Holdings,
Inc.
(a)
..............
44,772
279,377‌
Joint
Corp.
(The)
(a)
(b)
...................
34,413
397,126‌
ModivCare,
Inc.
(a)
.....................
4,218
13,160‌
Nano-X
Imaging
Ltd.
(a)
(b)
................
144,211
745,571‌
National
Research
Corp.
................
28,338
476,078‌
NeueHealth,
Inc.
(a)
....................
7,278
50,218‌
Nutex
Health,
Inc.
(a)
...................
7,697
958,200‌
Oncology
Institute,
Inc.
(The)
(a)
(b)
...........
132,060
270,723‌
P3
Health
Partners,
Inc.
(a)
(b)
..............
2,571
16,197‌
Pennant
Group,
Inc.
(The)
(a)
..............
76,322
2,278,212‌
Performant
Healthcare,
Inc.
(a)
.............
157,349
629,396‌
Prenetics
Global
Ltd.
,
Class
A
(a)
...........
22,747
191,985‌
Quipt
Home
Medical
Corp.
(a)
(b)
............
82,651
147,945‌
SBC
Medical
Group
Holdings,
Inc.
(a)
........
12,183
56,529‌
Sonida
Senior
Living,
Inc.
(a)
(b)
.............
12,317
307,309‌
Talkspace,
Inc.
(a)
(b)
....................
276,318
768,164‌
Viemed
Healthcare,
Inc.
(a)
...............
78,203
540,383‌
11,410,478‌
Health
Care
REITs
—
0.5%
Diversified
Healthcare
Trust
..............
494,825
1,771,473‌
Global
Medical
REIT,
Inc.
...............
143,488
994,372‌
Strawberry
Fields
REIT,
Inc.
(b)
............
16,516
174,079‌
Universal
Health
Realty
Income
Trust
.......
28,998
1,159,050‌
4,098,974‌
Health
Care
Technology
—
0.8%
CareCloud,
Inc.
(a)
(b)
....................
78,269
184,715‌
Claritev
Corp.
(a)
(b)
.....................
15,822
714,047‌
Firefly
Neuroscience,
Inc.
(a)
(b)
.............
14,436
40,854‌
Forian,
Inc.
(a)
........................
33,888
66,420‌
Health
Catalyst,
Inc.
(a)
..................
153,654
579,276‌
HealthStream,
Inc.
....................
55,065
1,523,649‌
iCAD,
Inc.
(a)
(b)
.......................
58,944
224,577‌
LifeMD,
Inc.
(a)
.......................
82,683
1,126,142‌
OptimizeRx
Corp.
(a)
(b)
..................
38,782
523,557‌
Simulations
Plus,
Inc.
..................
37,481
654,043‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
8
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Health
Care
Technology
(continued)
TruBridge,
Inc.
(a)
(b)
....................
22,483
$
526,552‌
6,163,832‌
Hotel
&
Resort
REITs
—
0.1%
Ashford
Hospitality
Trust,
Inc.
(a)
(b)
..........
12,726
76,610‌
Braemar
Hotels
&
Resorts,
Inc.
...........
131,962
323,307‌
Chatham
Lodging
Trust
.................
104,501
728,372‌
1,128,289‌
Hotels,
Restaurants
&
Leisure
—
1.8%
Allied
Gaming
&
Entertainment,
Inc.
(a)
.......
28,581
74,025‌
Ark
Restaurants
Corp.
(a)
................
3,804
34,712‌
Bally's
Corp.
(a)
.......................
16,275
155,915‌
Biglari
Holdings,
Inc.
,
Class
B,
NVS
(a)
(b)
......
1,519
443,867‌
BJ's
Restaurants,
Inc.
(a)
(b)
...............
48,334
2,155,696‌
Canterbury
Park
Holding
Corp.
............
6,075
116,822‌
Century
Casinos,
Inc.
(a)
.................
59,283
125,384‌
Denny's
Corp.
(a)
(b)
.....................
113,235
464,264‌
El
Pollo
Loco
Holdings,
Inc.
(a)
(b)
............
59,560
655,756‌
FAT
Brands,
Inc.
,
Class
A
...............
13,879
33,032‌
Flanigan's
Enterprises,
Inc.
..............
1,386
48,122‌
Full
House
Resorts,
Inc.
(a)
...............
76,538
280,129‌
Golden
Entertainment,
Inc.
..............
43,840
1,290,211‌
Inspired
Entertainment,
Inc.
(a)
.............
56,005
457,561‌
Kura
Sushi
USA,
Inc.
,
Class
A
(a)
(b)
..........
14,109
1,214,503‌
Lindblad
Expeditions
Holdings,
Inc.
(a)
........
84,447
985,496‌
Nathan's
Famous,
Inc.
.................
5,938
656,624‌
ONE
Group
Hospitality,
Inc.
(The)
(a)
.........
57,786
234,033‌
PlayAGS,
Inc.
(a)
......................
90,508
1,130,445‌
Potbelly
Corp.
(a)
......................
57,374
702,832‌
Pursuit
Attractions
&
Hospitality,
Inc.
(a)
(b)
......
47,922
1,381,591‌
Rave
Restaurant
Group,
Inc.
(a)
............
22,042
60,615‌
RCI
Hospitality
Holdings,
Inc.
.............
18,486
704,686‌
Red
Robin
Gourmet
Burgers,
Inc.
(a)
(b)
........
33,528
194,127‌
Serve
Robotics,
Inc.
(a)
(b)
.................
88,726
1,015,025‌
14,615,473‌
Household
Durables
—
0.9%
Bassett
Furniture
Industries,
Inc.
..........
18,169
276,169‌
Beazer
Homes
USA,
Inc.
(a)
..............
65,406
1,463,132‌
Ethan
Allen
Interiors,
Inc.
...............
52,238
1,454,828‌
Flexsteel
Industries,
Inc.
................
8,335
300,310‌
GoPro,
Inc.
,
Class
A
(a)
..................
7,824
5,925‌
Hamilton
Beach
Brands
Holding
Co.
,
Class
A
..
16,487
294,953‌
Hooker
Furnishings
Corp.
...............
23,757
251,349‌
Hovnanian
Enterprises,
Inc.
,
Class
A
(a)
(b)
.....
10,952
1,145,032‌
iRobot
Corp.
(a)
(b)
......................
68,901
215,660‌
Koss
Corp.
(a)
........................
11,719
59,767‌
Legacy
Housing
Corp.
(a)
................
19,481
441,440‌
Lifetime
Brands,
Inc.
...................
27,083
138,123‌
Live
Ventures,
Inc.
(a)
...................
2,936
51,028‌
Lovesac
Co.
(The)
(a)
(b)
..................
30,484
554,809‌
Purple
Innovation,
Inc.
(a)
................
28,090
20,483‌
Traeger,
Inc.
(a)
.......................
73,923
126,408‌
United
Homes
Group,
Inc.
,
Class
A
(a)
........
21,667
62,834‌
Universal
Electronics,
Inc.
(a)
..............
27,908
184,751‌
7,047,001‌
Household
Products
—
0.2%
Oil-Dri
Corp.
of
America
................
22,277
1,314,120‌
Independent
Power
and
Renewable
Electricity
Producers
—
0.1%
(a)
Hallador
Energy
Co.
...................
70,155
1,110,554‌
Spruce
Power
Holding
Corp.
(b)
............
40,964
82,747‌
1,193,301‌
Security
Shares
Shares
Value
Industrial
REITs
—
0.2%
Industrial
Logistics
Properties
Trust
.........
120,243
$
547,105‌
Plymouth
Industrial
REIT,
Inc.
............
92,396
1,483,880‌
2,030,985‌
Insurance
—
1.7%
Ambac
Financial
Group,
Inc.
(a)
............
106,612
756,945‌
American
Coastal
Insurance
Corp.
.........
54,887
610,343‌
Atlantic
American
Corp.
................
8,804
18,753‌
Citizens,
Inc.
,
Class
A
(a)
(b)
...............
102,235
356,800‌
Crawford
&
Co.
,
Class
A,
NVS
............
36,524
386,424‌
Donegal
Group,
Inc.
,
Class
A
.............
36,720
735,318‌
eHealth,
Inc.
(a)
.......................
64,424
280,244‌
Fundamental
Global,
Inc.
(a)
..............
213
3,541‌
GoHealth,
Inc.
,
Class
A
(a)
................
10,835
60,134‌
Greenlight
Capital
Re
Ltd.
,
Class
A
(a)
........
59,491
854,886‌
Heritage
Insurance
Holdings,
Inc.
(a)
.........
50,265
1,253,609‌
Hippo
Holdings,
Inc.
(a)
..................
40,193
1,122,591‌
Investors
Title
Co.
....................
3,238
684,189‌
James
River
Group
Holdings
Ltd.
..........
82,664
484,411‌
Kestrel
Group
Ltd.
....................
3,957
104,940‌
Kingstone
Cos.,
Inc.
(a)
(b)
.................
23,646
364,385‌
Kingsway
Financial
Services,
Inc.
(a)
.........
41,161
557,320‌
MBIA,
Inc.
(a)
........................
102,455
444,655‌
NI
Holdings,
Inc.
(a)
....................
15,516
197,674‌
Selectquote,
Inc.
(a)
....................
308,269
733,680‌
Tiptree,
Inc.
........................
52,866
1,246,580‌
United
Fire
Group,
Inc.
.................
47,285
1,357,080‌
Universal
Insurance
Holdings,
Inc.
.........
57,148
1,584,714‌
14,199,216‌
Interactive
Media
&
Services
—
1.4%
(a)
Angi,
Inc.
(b)
.........................
97,743
1,491,558‌
Arena
Group
Holdings,
Inc.
(The)
..........
26,365
163,463‌
BuzzFeed,
Inc.
(b)
.....................
45,714
91,428‌
DHI
Group,
Inc.
......................
92,751
275,471‌
EverQuote,
Inc.
,
Class
A
................
61,802
1,494,372‌
fuboTV,
Inc.
(b)
.......................
751,320
2,900,095‌
Giftify,
Inc.
.........................
44,882
67,323‌
IZEA
Worldwide,
Inc.
..................
30,556
77,001‌
MediaAlpha,
Inc.
,
Class
A
...............
74,755
818,567‌
Nextdoor
Holdings,
Inc.
,
Class
A
...........
474,838
788,231‌
PSQ
Holdings,
Inc.
,
Class
A
(b)
............
67,485
138,344‌
QuinStreet,
Inc.
......................
122,225
1,967,823‌
System1,
Inc.
.......................
444
2,455‌
Teads
Holding
Co.
....................
81,045
200,992‌
Travelzoo
(b)
.........................
14,269
181,644‌
TrueCar,
Inc.
........................
176,485
335,322‌
Zedge,
Inc.
,
Class
B
...................
25,209
101,088‌
11,095,177‌
IT
Services
—
2.2%
Applied
Digital
Corp.
(a)
(b)
................
397,909
4,006,944‌
Backblaze,
Inc.
,
Class
A
(a)
...............
120,132
660,726‌
BigBear.ai
Holdings,
Inc.
(a)
(b)
..............
650,961
4,420,025‌
Cloudastructure,
Inc.
,
Class
A
(a)
...........
4,229
9,346‌
Couchbase,
Inc.
(a)
....................
96,971
2,364,153‌
Crexendo,
Inc.
(a)
.....................
31,755
192,753‌
CSP,
Inc.
..........................
15,375
198,953‌
Grid
Dynamics
Holdings,
Inc.
,
Class
A
(a)
......
148,840
1,719,102‌
Hackett
Group,
Inc.
(The)
...............
56,422
1,434,247‌
Information
Services
Group,
Inc.
...........
79,218
380,246‌
Rackspace
Technology,
Inc.
(a)
............
187,176
239,585‌
Research
Solutions,
Inc.
(a)
(b)
..............
63,492
182,222‌
TSS,
Inc.
(a)
(b)
........................
40,966
1,181,050‌
Tucows,
Inc.
,
Class
A
(a)
(b)
................
15,193
299,454‌
Unisys
Corp.
(a)
.......................
149,759
678,408‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
9
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
IT
Services
(continued)
WidePoint
Corp.
(a)
....................
17,476
$
59,768‌
18,026,982‌
Leisure
Products
—
0.6%
American
Outdoor
Brands,
Inc.
(a)
(b)
.........
26,999
282,140‌
Clarus
Corp.
........................
67,366
233,760‌
Escalade,
Inc.
.......................
22,578
315,640‌
Funko,
Inc.
,
Class
A
(a)
(b)
.................
78,011
371,332‌
JAKKS
Pacific,
Inc.
...................
20,037
416,369‌
Johnson
Outdoors,
Inc.
,
Class
A
...........
11,947
361,636‌
Latham
Group,
Inc.
(a)
(b)
.................
100,811
643,174‌
Marine
Products
Corp.
.................
19,625
167,009‌
MasterCraft
Boat
Holdings,
Inc.
(a)
..........
36,609
680,195‌
Outdoor
Holding
Co.
(a)
(b)
................
197,042
252,214‌
Smith
&
Wesson
Brands,
Inc.
.............
98,631
856,117‌
4,579,586‌
Life
Sciences
Tools
&
Services
—
1.6%
(a)
Adaptive
Biotechnologies
Corp.
(b)
..........
336,134
3,915,961‌
Akoya
Biosciences,
Inc.
................
59,989
77,986‌
Alpha
Teknova,
Inc.
(b)
..................
24,286
119,244‌
Atlantic
International
Corp.
(b)
.............
16,855
34,216‌
BioLife
Solutions,
Inc.
..................
85,551
1,842,769‌
Champions
Oncology,
Inc.
...............
19,331
142,469‌
Codexis,
Inc.
........................
183,666
448,145‌
Harvard
Bioscience,
Inc.
................
20,025
8,887‌
Inotiv,
Inc.
(b)
.........................
49,821
90,674‌
Lifecore
Biomedical,
Inc.
(b)
...............
61,888
502,531‌
MaxCyte,
Inc.
(b)
......................
226,900
494,642‌
Nautilus
Biotechnology,
Inc.
..............
17,316
12,552‌
Niagen
Bioscience,
Inc.
(b)
...............
117,774
1,697,123‌
OmniAb,
Inc.
........................
225,066
391,615‌
Personalis,
Inc.
(b)
.....................
103,829
681,118‌
Quanterix
Corp.
......................
82,661
549,696‌
Quantum-Si,
Inc.
,
Class
A
(b)
..............
316,539
620,416‌
Rapid
Micro
Biosystems,
Inc.
,
Class
A
(b)
......
67,130
231,599‌
Seer,
Inc.
,
Class
A
(b)
...................
111,940
239,552‌
Standard
BioTools,
Inc.
(b)
................
671,440
805,728‌
12,906,923‌
Machinery
—
2.5%
374Water,
Inc.
(a)
......................
29,573
9,591‌
3D
Systems
Corp.
(a)
(b)
..................
300,292
462,450‌
AirJoule
Technologies
Corp.
(a)
(b)
...........
43,354
200,729‌
Blue
Bird
Corp.
(a)
(b)
....................
72,555
3,131,474‌
Columbus
McKinnon
Corp.
..............
63,552
970,439‌
Commercial
Vehicle
Group,
Inc.
(a)
..........
74,095
122,998‌
Douglas
Dynamics,
Inc.
................
50,962
1,501,850‌
Eastern
Co.
(The)
....................
12,865
293,579‌
FreightCar
America,
Inc.
(a)
...............
31,953
275,435‌
Gencor
Industries,
Inc.
(a)
................
23,621
330,694‌
Graham
Corp.
(a)
......................
23,359
1,156,504‌
Hurco
Cos.,
Inc.
(a)
....................
13,279
250,973‌
Hyster-Yale,
Inc.
,
Class
A
...............
26,373
1,049,118‌
L
B
Foster
Co.
,
Class
A
(a)
................
22,934
501,567‌
Laser
Photonics
Corp.
(a)
................
10,662
28,681‌
Luxfer
Holdings
plc
...................
60,003
730,837‌
Manitowoc
Co.,
Inc.
(The)
(a)
..............
77,558
932,247‌
Mayville
Engineering
Co.,
Inc.
(a)
(b)
..........
31,983
510,449‌
Microvast
Holdings,
Inc.
(a)
(b)
..............
448,326
1,627,423‌
Miller
Industries,
Inc.
..................
24,857
1,105,142‌
Nauticus
Robotics,
Inc.
(a)
................
75,484
68,283‌
NN,
Inc.
(a)
..........................
103,019
216,340‌
Novusterra,
Inc.
(a)
(b)
(c)
..................
12,894
—‌
Palladyne
AI
Corp.
(a)
(b)
..................
57,331
496,487‌
Park-Ohio
Holdings
Corp.
...............
21,934
391,741‌
Security
Shares
Shares
Value
Machinery
(continued)
Perma-Pipe
International
Holdings,
Inc.
(a)
(b)
....
16,223
$
371,020‌
Rain
Enhancement
Technologies
Holdco,
Inc.
,
Class
A
(a)
........................
4,203
13,555‌
Richtech
Robotics,
Inc.
,
Class
B
(a)
(b)
........
155,132
302,507‌
Shyft
Group,
Inc.
(The)
.................
72,969
915,031‌
Taylor
Devices,
Inc.
(a)
..................
6,931
300,805‌
Titan
International,
Inc.
(a)
................
109,209
1,121,576‌
Twin
Disc,
Inc.
.......................
25,265
223,090‌
Wabash
National
Corp.
.................
92,410
982,318‌
Xos,
Inc.
(a)
(b)
........................
7,112
21,478‌
20,616,411‌
Marine
Transportation
—
0.3%
Costamare
Bulkers
Holdings
Ltd.
(a)
.........
19,156
166,082‌
Genco
Shipping
&
Trading
Ltd.
............
88,495
1,156,630‌
Himalaya
Shipping
Ltd.
.................
66,923
386,146‌
Pangaea
Logistics
Solutions
Ltd.
..........
67,631
317,866‌
Safe
Bulkers,
Inc.
....................
129,640
468,000‌
2,494,724‌
Media
—
0.9%
Boston
Omaha
Corp.
,
Class
A
(a)
(b)
..........
48,941
687,132‌
Cardlytics,
Inc.
(a)
(b)
....................
114,958
189,106‌
Emerald
Holding,
Inc.
..................
31,168
151,165‌
Entravision
Communications
Corp.
,
Class
A
...
139,622
323,923‌
EW
Scripps
Co.
(The)
,
Class
A
(a)
..........
141,161
415,013‌
Fluent,
Inc.
(a)
(b)
.......................
22,137
44,274‌
Gambling.com
Group
Ltd.
(a)
(b)
.............
37,044
440,453‌
Gannett
Co.,
Inc.
(a)
....................
316,667
1,133,668‌
GD
Culture
Group
Ltd.
(a)
................
27,226
102,370‌
Harte
Hanks,
Inc.
(a)
....................
15,051
59,903‌
iHeartMedia,
Inc.
,
Class
A
(a)
(b)
.............
267,333
470,506‌
Lee
Enterprises,
Inc.
(a)
(b)
................
9,622
61,100‌
Marchex,
Inc.
,
Class
B
(a)
................
47,694
103,019‌
National
CineMedia,
Inc.
................
144,064
697,990‌
Nexxen
International
Ltd.
(a)
..............
79,886
831,613‌
Saga
Communications,
Inc.
,
Class
A
........
10,498
136,474‌
Thryv
Holdings,
Inc.
(a)
..................
83,683
1,017,585‌
Townsquare
Media,
Inc.
,
Class
A
..........
30,009
237,371‌
Urban
One,
Inc.
,
Class
A
(a)
...............
12,234
19,819‌
Urban
One,
Inc.
,
Class
D,
NVS
(a)
..........
3,514
2,217‌
WideOpenWest,
Inc.
(a)
.................
113,412
460,453‌
7,585,154‌
Metals
&
Mining
—
2.0%
5E
Advanced
Materials,
Inc.
(a)
(b)
...........
5,736
20,191‌
American
Battery
Technology
Co.
(a)
(b)
........
181,281
293,675‌
American
Infrastructure
Corp.
(a)
(b)
..........
18,637
1‌
Ampco-Pittsburgh
Corp.
(a)
...............
33,702
99,758‌
Ascent
Industries
Co.
(a)
(b)
................
17,793
224,370‌
Caledonia
Mining
Corp.
plc
..............
37,042
715,651‌
Contango
ORE,
Inc.
(a)
..................
19,206
374,133‌
Critical
Metals
Corp.
(a)
(b)
.................
72,307
258,859‌
Dakota
Gold
Corp.
(a)
...................
193,039
712,314‌
Ferroglobe
plc
.......................
269,733
989,920‌
Friedman
Industries,
Inc.
(b)
...............
14,785
244,840‌
Hycroft
Mining
Holding
Corp.
,
Class
A
(a)
(b)
.....
46,390
145,201‌
i-80
Gold
Corp.
(a)
(b)
....................
33,694
20,163‌
Idaho
Strategic
Resources,
Inc.
(a)
(b)
.........
27,735
362,774‌
Ivanhoe
Electric,
Inc.
(a)
(b)
................
193,388
1,754,029‌
Lifezone
Metals
Ltd.
(a)
..................
62,766
258,596‌
Metallus,
Inc.
(a)
......................
82,623
1,273,220‌
NioCorp
Developments
Ltd.
(a)
(b)
...........
115,969
270,208‌
Olympic
Steel,
Inc.
....................
22,240
724,802‌
Perpetua
Resources
Corp.
(a)
.............
104,014
1,262,730‌
Piedmont
Lithium,
Inc.
(a)
(b)
...............
46,210
268,942‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
10
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Metals
&
Mining
(continued)
Radius
Recycling,
Inc.
,
Class
A
...........
62,619
$
1,859,158‌
Ramaco
Resources,
Inc.
,
Class
A
..........
79,836
1,049,045‌
Ramaco
Resources,
Inc.
,
Class
B
..........
2,128
17,407‌
ReElement
Technologies
Corp.
(a)
..........
31,713
23,902‌
SunCoke
Energy,
Inc.
..................
191,688
1,646,600‌
Tredegar
Corp.
(a)
.....................
59,828
526,486‌
United
States
Antimony
Corp.
(a)
(b)
..........
205,347
447,656‌
US
Gold
Corp.
(a)
(b)
....................
24,456
298,363‌
US
Goldmining,
Inc.
(a)
..................
3,751
30,758‌
Vox
Royalty
Corp.
....................
91,655
289,630‌
16,463,382‌
Mortgage
Real
Estate
Investment
Trusts
(REITs)
—
1.4%
ACRES
Commercial
Realty
Corp.
(a)
(b)
.......
13,759
246,836‌
Advanced
Flower
Capital,
Inc.
............
41,137
184,294‌
AG
Mortgage
Investment
Trust,
Inc.
........
62,752
473,778‌
Angel
Oak
Mortgage
REIT,
Inc.
...........
27,748
261,386‌
Ares
Commercial
Real
Estate
Corp.
........
118,492
565,207‌
Cherry
Hill
Mortgage
Investment
Corp.
......
73,406
200,398‌
Chicago
Atlantic
Real
Estate
Finance,
Inc.
....
39,104
545,892‌
Ellington
Financial,
Inc.
.................
208,073
2,702,868‌
Franklin
BSP
Realty
Trust,
Inc.
............
184,566
1,973,011‌
Granite
Point
Mortgage
Trust,
Inc.
.........
103,259
255,050‌
Invesco
Mortgage
Capital,
Inc.
............
148,542
1,164,569‌
Lument
Finance
Trust,
Inc.
..............
103,895
229,608‌
Manhattan
Bridge
Capital,
Inc.
............
18,788
102,770‌
Nexpoint
Real
Estate
Finance,
Inc.
.........
17,036
234,926‌
Orchid
Island
Capital,
Inc.
...............
243,188
1,704,748‌
Rithm
Property
Trust,
Inc.
...............
96,358
260,167‌
Sachem
Capital
Corp.
..................
101,697
122,036‌
Seven
Hills
Realty
Trust
................
33,207
400,809‌
Sunrise
Realty
Trust,
Inc.
...............
22,799
241,669‌
11,870,022‌
Multi-Utilities
—
0.2%
Unitil
Corp.
.........................
36,213
1,888,508‌
Office
REITs
—
0.5%
City
Office
REIT,
Inc.
..................
87,722
468,435‌
Franklin
Street
Properties
Corp.
...........
171,343
281,003‌
NET
Lease
Office
Properties
(a)
............
33,459
1,089,090‌
Orion
Properties,
Inc.
..................
116,927
249,055‌
Peakstone
Realty
Trust
,
Class
E
..........
83,147
1,098,372‌
Postal
Realty
Trust,
Inc.
,
Class
A
..........
50,455
743,202‌
3,929,157‌
Oil,
Gas
&
Consumable
Fuels
—
3.2%
Aemetis,
Inc.
(a)
(b)
.....................
110,364
273,703‌
Amplify
Energy
Corp.
(a)
.................
82,351
263,523‌
Ardmore
Shipping
Corp.
................
77,635
745,296‌
Berry
Corp.
.........................
173,069
479,401‌
Centrus
Energy
Corp.
,
Class
A
(a)
(b)
.........
33,265
6,093,483‌
Comstock,
Inc.
(a)
(b)
....................
58,144
220,366‌
Diversified
Energy
Co.
plc
(d)
..............
123,386
1,810,073‌
Empire
Petroleum
Corp.
(a)
(b)
..............
33,922
179,108‌
Encore
Energy
Corp.
(a)
(b)
................
416,258
1,190,498‌
Energy
Fuels,
Inc.
(a)
(b)
..................
468,837
2,695,813‌
Epsilon
Energy
Ltd.
...................
43,149
318,440‌
Evolution
Petroleum
Corp.
...............
70,088
329,414‌
FutureFuel
Corp.
.....................
56,657
219,829‌
Gevo,
Inc.
(a)
(b)
.......................
524,884
692,847‌
Granite
Ridge
Resources,
Inc.
............
121,469
773,758‌
Green
Plains,
Inc.
(a)
...................
145,444
877,027‌
Kolibri
Global
Energy,
Inc.
(a)
(b)
.............
78,727
539,280‌
Lightbridge
Corp.
(a)
(b)
...................
38,891
519,973‌
NACCO
Industries,
Inc.
,
Class
A
...........
8,917
395,112‌
Security
Shares
Shares
Value
Oil,
Gas
&
Consumable
Fuels
(continued)
NextNRG,
Inc.
(a)
......................
37,720
$
104,484‌
Nordic
American
Tankers
Ltd.
............
460,488
1,211,083‌
OPAL
Fuels,
Inc.
,
Class
A
(a)
..............
46,896
113,488‌
Prairie
Operating
Co.
(a)
(b)
................
48,224
144,431‌
PrimeEnergy
Resources
Corp.
(a)
(b)
..........
1,139
166,727‌
REX
American
Resources
Corp.
(a)
.........
33,289
1,621,507‌
Riley
Exploration
Permian,
Inc.
............
29,487
773,444‌
SandRidge
Energy,
Inc.
................
81,775
884,805‌
Stabilis
Solutions,
Inc.
(a)
................
4,029
19,138‌
Summit
Midstream
Corp.
(a)
..............
22,414
549,815‌
Teekay
Corp.
Ltd.
....................
117,176
966,702‌
Ur-Energy,
Inc.
(a)
.....................
39,512
41,488‌
US
Energy
Corp.
(a)
(b)
...................
7,485
10,479‌
VAALCO
Energy,
Inc.
..................
232,645
839,848‌
Verde
Clean
Fuels,
Inc.
,
Class
A
(a)
(b)
........
8,757
30,124‌
W&T
Offshore,
Inc.
(b)
..................
222,625
367,331‌
26,461,838‌
Paper
&
Forest
Products
—
0.2%
(a)
Clearwater
Paper
Corp.
................
35,451
965,685‌
Magnera
Corp.
(b)
.....................
74,696
902,328‌
1,868,013‌
Passenger
Airlines
—
0.1%
(a)
Blade
Air
Mobility,
Inc.
,
Class
A
............
143,920
579,997‌
Mesa
Air
Group,
Inc.
...................
71,794
66,768‌
Spirit
Aviation
Holdings,
Inc.
..............
35,838
178,832‌
Surf
Air
Mobility,
Inc.
...................
29,036
107,143‌
932,740‌
Personal
Care
Products
—
0.4%
AXIL
Brands,
Inc.
(a)
....................
7,896
43,349‌
Beauty
Health
Co.
(The)
,
Class
A
(a)
(b)
........
256,084
489,120‌
FitLife
Brands,
Inc.
(a)
(b)
..................
8,645
112,558‌
Honest
Co.,
Inc.
(The)
(a)
(b)
...............
209,558
1,066,650‌
Lifevantage
Corp.
....................
22,755
297,635‌
Medifast,
Inc.
(a)
......................
24,329
341,823‌
Natural
Alternatives
International,
Inc.
(a)
......
1,782
5,845‌
Natural
Health
Trends
Corp.
.............
16,149
71,702‌
Nature's
Sunshine
Products,
Inc.
(a)
(b)
........
32,777
484,772‌
United-Guardian,
Inc.
..................
6,869
54,677‌
2,968,131‌
Pharmaceuticals
—
4.3%
Aardvark
Therapeutics,
Inc.
(a)
.............
9,475
128,102‌
Aclaris
Therapeutics,
Inc.
(a)
(b)
.............
203,436
288,879‌
ALT5
Sigma
Corp.
(a)
(b)
..................
35,028
253,778‌
Alto
Neuroscience,
Inc.
(a)
(b)
...............
47,825
105,215‌
Alumis,
Inc.
(a)
.......................
115,526
346,578‌
Amylyx
Pharmaceuticals,
Inc.
(a)
(b)
..........
153,155
981,723‌
AN2
Therapeutics,
Inc.
(a)
................
51,729
54,833‌
Anebulo
Pharmaceuticals,
Inc.
(a)
...........
13,736
19,780‌
Aquestive
Therapeutics,
Inc.
(a)
(b)
...........
193,073
639,072‌
Atea
Pharmaceuticals,
Inc.
(a)
.............
172,156
619,762‌
BioAge
Labs,
Inc.
(a)
...................
53,206
219,741‌
Biote
Corp.
,
Class
A
(a)
..................
65,204
262,120‌
Cadrenal
Therapeutics,
Inc.
(a)
.............
3,018
36,367‌
Cassava
Sciences,
Inc.
(a)
...............
95,265
172,430‌
Collegium
Pharmaceutical,
Inc.
(a)
..........
72,232
2,135,900‌
Contineum
Therapeutics,
Inc.
,
Class
A
(a)
(b)
....
31,426
124,761‌
CorMedix,
Inc.
(a)
......................
144,913
1,785,328‌
Cumberland
Pharmaceuticals,
Inc.
(a)
........
17,022
57,024‌
Enliven
Therapeutics,
Inc.
(a)
(b)
.............
72,398
1,452,304‌
Esperion
Therapeutics,
Inc.
(a)
(b)
............
447,895
440,908‌
Eton
Pharmaceuticals,
Inc.
(a)
(b)
............
55,845
795,791‌
Evolus,
Inc.
(a)
.......................
119,827
1,103,607‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
11
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Pharmaceuticals
(continued)
EyePoint
Pharmaceuticals,
Inc.
(a)
..........
139,145
$
1,309,354‌
Fulcrum
Therapeutics,
Inc.
(a)
(b)
............
119,866
824,678‌
Harrow,
Inc.
(a)
(b)
......................
71,094
2,171,211‌
Ikena
Oncology,
Inc.
(a)
..................
67,791
90,840‌
Journey
Medical
Corp.
(a)
................
26,348
189,179‌
LENZ
Therapeutics,
Inc.
(a)
(b)
..............
40,201
1,178,291‌
Liquidia
Corp.
(a)
(b)
.....................
144,744
1,803,510‌
Maze
Therapeutics,
Inc.
(a)
(b)
..............
19,889
244,038‌
MBX
Biosciences,
Inc.
(a)
(b)
...............
35,692
407,246‌
MediWound
Ltd.
(a)
(b)
...................
17,404
337,115‌
Mind
Medicine
MindMed,
Inc.
(a)
(b)
..........
169,034
1,097,031‌
Nektar
Therapeutics
(a)
..................
1,729
44,677‌
Neonc
Technologies
Holdings,
Inc.
(a)
........
5,108
18,236‌
NRX
Pharmaceuticals,
Inc.
(a)
.............
32,348
105,454‌
Nutriband,
Inc.
(a)
.....................
7,516
59,151‌
Nuvation
Bio,
Inc.
,
Class
A
(a)
(b)
............
564,062
1,099,921‌
Omeros
Corp.
(a)
(b)
.....................
126,630
379,890‌
Oramed
Pharmaceuticals,
Inc.
(a)
(b)
..........
78,545
176,726‌
Phathom
Pharmaceuticals,
Inc.
(a)
(b)
.........
94,768
908,825‌
Phibro
Animal
Health
Corp.
,
Class
A
........
45,918
1,172,746‌
Pliant
Therapeutics,
Inc.
(a)
(b)
..............
125,326
145,378‌
Rafael
Holdings,
Inc.
,
Class
B
(a)
...........
108,512
187,726‌
Rani
Therapeutics
Holdings,
Inc.
,
Class
A
(a)
...
50,521
25,963‌
Rapport
Therapeutics,
Inc.
(a)
(b)
............
39,395
447,921‌
Scilex
Holding
Co.
(a)
...................
11,680
68,795‌
scPharmaceuticals,
Inc.
(a)
(b)
..............
77,594
295,633‌
SIGA
Technologies,
Inc.
................
93,145
607,305‌
Telomir
Pharmaceuticals,
Inc.
(a)
(b)
..........
44,376
55,470‌
Terns
Pharmaceuticals,
Inc.
(a)
.............
162,314
605,431‌
Theravance
Biopharma,
Inc.
(a)
(b)
...........
85,061
938,223‌
Third
Harmonic
Bio,
Inc.
(a)
(b)
..............
56,434
306,437‌
Trevi
Therapeutics,
Inc.
(a)
...............
170,259
931,317‌
Tvardi
Therapeutics,
Inc.
(a)
...............
7,633
178,078‌
Ventyx
Biosciences,
Inc.
(a)
(b)
..............
145,310
310,963‌
Veru,
Inc.
(a)
.........................
18,499
10,763‌
WaVe
Life
Sciences
Ltd.
(a)
...............
251,551
1,635,081‌
Xeris
Biopharma
Holdings,
Inc.
(a)
..........
338,110
1,578,974‌
Zevra
Therapeutics,
Inc.
(a)
(b)
..............
121,856
1,073,551‌
35,045,131‌
Professional
Services
—
2.5%
Asure
Software,
Inc.
(a)
(b)
.................
55,357
540,284‌
Barrett
Business
Services,
Inc.
............
56,091
2,338,434‌
BGSF,
Inc.
(a)
........................
23,590
150,268‌
BlackSky
Technology,
Inc.
(a)
(b)
.............
62,811
1,292,650‌
CRA
International,
Inc.
.................
14,897
2,791,251‌
DLH
Holdings
Corp.
(a)
..................
27,678
161,639‌
FiscalNote
Holdings,
Inc.
,
Class
A
(a)
........
11,310
6,067‌
Forrester
Research,
Inc.
(a)
...............
25,713
254,559‌
Franklin
Covey
Co.
(a)
(b)
.................
24,865
567,419‌
Heidrick
&
Struggles
International,
Inc.
......
46,217
2,114,890‌
HireQuest,
Inc.
......................
12,378
123,904‌
IBEX
Holdings
Ltd.
(a)
...................
22,442
653,062‌
Innodata,
Inc.
(a)
(b)
.....................
68,203
3,493,358‌
Kelly
Services,
Inc.
,
Class
A,
NVS
.........
68,159
798,142‌
Mastech
Digital,
Inc.
(a)
..................
9,163
65,699‌
Mistras
Group,
Inc.
(a)
..................
37,148
297,555‌
Nixxy,
Inc.
(a)
........................
34,888
72,916‌
RCM
Technologies,
Inc.
(a)
...............
11,124
262,193‌
Resolute
Holdings
Management,
Inc.
(a)
......
9,708
309,394‌
Resources
Connection,
Inc.
..............
73,114
392,622‌
Skillsoft
Corp.
,
Class
A
(a)
(b)
...............
9,940
158,742‌
Spire
Global,
Inc.
,
Class
A
(a)
(b)
............
61,556
732,516‌
TrueBlue,
Inc.
(a)
......................
64,247
416,321‌
TTEC
Holdings,
Inc.
(a)
..................
44,544
214,257‌
Security
Shares
Shares
Value
Professional
Services
(continued)
Where
Food
Comes
From,
Inc.
(a)
..........
5,390
$
60,637‌
Willdan
Group,
Inc.
(a)
..................
31,331
1,958,501‌
20,227,280‌
Real
Estate
Management
&
Development
—
0.6%
(a)
American
Realty
Investors,
Inc.
...........
3,184
44,958‌
AMREP
Corp.
(b)
......................
6,584
137,803‌
Comstock
Holding
Cos.,
Inc.
,
Class
A
.......
7,881
79,519‌
Douglas
Elliman,
Inc.
(b)
.................
164,206
380,958‌
FRP
Holdings,
Inc.
....................
26,335
708,148‌
JW
Mays,
Inc.
.......................
704
26,752‌
Logistic
Properties
of
The
Americas
........
6,310
43,097‌
Maui
Land
&
Pineapple
Co.,
Inc.
..........
15,333
278,907‌
Offerpad
Solutions,
Inc.
,
Class
A
(b)
.........
48,488
44,124‌
RE/MAX
Holdings,
Inc.
,
Class
A
...........
41,002
335,396‌
Real
Brokerage,
Inc.
(The)
..............
237,973
1,073,258‌
Seaport
Entertainment
Group,
Inc.
(b)
........
16,673
310,952‌
Star
Holdings
.......................
29,008
226,553‌
Stratus
Properties,
Inc.
.................
15,285
288,581‌
Tejon
Ranch
Co.
.....................
47,185
800,258‌
Transcontinental
Realty
Investors,
Inc.
......
4,366
186,035‌
4,965,299‌
Residential
REITs
—
0.1%
Bluerock
Homes
Trust,
Inc.
,
Class
A
........
7,334
91,822‌
BRT
Apartments
Corp.
.................
24,720
386,621‌
Clipper
Realty,
Inc.
....................
30,726
112,764‌
591,207‌
Retail
REITs
—
0.3%
CBL
&
Associates
Properties,
Inc.
..........
41,138
1,044,494‌
FrontView
REIT,
Inc.
...................
39,601
475,212‌
Whitestone
REIT
.....................
101,373
1,265,135‌
2,784,841‌
Semiconductors
&
Semiconductor
Equipment
—
1.8%
Aehr
Test
Systems
(a)
(b)
..................
64,408
832,795‌
Aeluma,
Inc.
(a)
(b)
......................
16,590
271,578‌
Alpha
&
Omega
Semiconductor
Ltd.
(a)
(b)
......
55,793
1,431,648‌
Amtech
Systems,
Inc.
(a)
(b)
...............
31,206
138,555‌
Atomera,
Inc.
(a)
(b)
.....................
65,690
331,078‌
AXT,
Inc.
(a)
.........................
99,293
207,522‌
CEVA,
Inc.
(a)
........................
52,804
1,160,632‌
Everspin
Technologies,
Inc.
(a)
.............
41,631
261,859‌
GCT
Semiconductor
Holding,
Inc.
(a)
(b)
.......
75,749
112,866‌
GSI
Technology,
Inc.
(a)
.................
43,160
145,018‌
Ichor
Holdings
Ltd.
(a)
...................
76,548
1,503,403‌
indie
Semiconductor,
Inc.
,
Class
A
(a)
(b)
.......
436,891
1,555,332‌
inTEST
Corp.
(a)
(b)
.....................
25,509
185,705‌
Kopin
Corp.
(a)
(b)
......................
339,220
519,007‌
Maxeon
Solar
Technologies
Ltd.
(a)
(b)
.........
16,231
49,667‌
Navitas
Semiconductor
Corp.
(a)
(b)
..........
301,593
1,975,434‌
NVE
Corp.
.........................
10,877
800,656‌
Penguin
Solutions,
Inc.
(a)
(b)
...............
120,063
2,378,448‌
QuickLogic
Corp.
(a)
....................
33,966
209,230‌
SkyWater
Technology,
Inc.
(a)
(b)
............
59,577
586,238‌
14,656,671‌
Software
—
4.9%
8x8,
Inc.
(a)
..........................
292,334
572,975‌
A10
Networks,
Inc.
....................
166,162
3,215,235‌
ACCESS
Newswire,
Inc.
(a)
...............
6,501
79,962‌
Airship
AI
Holdings,
Inc.
(a)
(b)
..............
44,907
264,502‌
Arteris,
Inc.
(a)
(b)
.......................
63,358
603,802‌
AudioEye,
Inc.
(a)
......................
17,941
209,013‌
authID,
Inc.
(a)
(b)
......................
22,772
120,464‌
Aware,
Inc.
(a)
........................
30,200
56,776‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
12
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Software
(continued)
Bit
Digital,
Inc.
(a)
......................
407,269
$
891,919‌
Blend
Labs,
Inc.
,
Class
A
(a)
..............
471,281
1,555,227‌
BTCS,
Inc.
(a)
........................
29,040
63,888‌
Cerence,
Inc.
(a)
(b)
.....................
98,209
1,002,714‌
Cipher
Mining,
Inc.
(a)
(b)
..................
597,199
2,854,611‌
Consensus
Cloud
Solutions,
Inc.
(a)
(b)
........
43,604
1,005,508‌
CoreCard
Corp.
(a)
(b)
...................
12,441
360,416‌
CS
Disco,
Inc.
(a)
......................
54,378
237,632‌
Daily
Journal
Corp.
(a)
(b)
.................
2,835
1,197,079‌
Digimarc
Corp.
(a)
(b)
....................
35,071
463,288‌
Digital
Turbine,
Inc.
(a)
(b)
.................
228,651
1,349,041‌
Domo,
Inc.
,
Class
B
(a)
..................
77,427
1,081,655‌
Duos
Technologies
Group,
Inc.
(a)
..........
18,792
134,363‌
eGain
Corp.
(a)
(b)
......................
41,067
256,669‌
Expensify,
Inc.
,
Class
A
(a)
(b)
..............
134,234
347,666‌
Fatpipe,
Inc.
(a)
.......................
1,498
14,740‌
I3
Verticals,
Inc.
,
Class
A
(a)
(b)
.............
51,820
1,424,014‌
Intellicheck,
Inc.
(a)
(b)
...................
39,698
213,972‌
Intellinetics,
Inc.
(a)
.....................
5,488
68,600‌
Kaltura,
Inc.
(a)
.......................
183,647
369,130‌
Mercurity
Fintech
Holding,
Inc.
(a)
(b)
..........
72,467
278,998‌
Mitek
Systems,
Inc.
(a)
..................
99,966
989,663‌
Nukkleus,
Inc.
(a)
......................
5,499
60,104‌
ON24,
Inc.
(a)
(b)
.......................
83,748
454,752‌
OneSpan,
Inc.
.......................
81,116
1,353,826‌
Ooma,
Inc.
(a)
........................
56,973
734,952‌
Pagaya
Technologies
Ltd.
,
Class
A
(a)
(b)
.......
94,332
2,011,158‌
Phunware,
Inc.
(a)
(b)
....................
45,409
143,946‌
Porch
Group,
Inc.
(a)
...................
181,513
2,140,038‌
Red
Violet,
Inc.
......................
25,362
1,247,810‌
Rekor
Systems,
Inc.
(a)
..................
237,541
275,548‌
ReposiTrak,
Inc.
.....................
25,219
495,553‌
Rezolve
AI
plc
(a)
......................
203,837
626,799‌
Rimini
Street,
Inc.
(a)
...................
109,549
413,000‌
Roadzen,
Inc.
(a)
......................
71,444
70,015‌
Silvaco
Group,
Inc.
(a)
(b)
.................
17,226
81,307‌
SoundThinking,
Inc.
(a)
..................
21,435
279,834‌
SRAX,
Inc.
(a)
........................
49,878
2,993‌
Synchronoss
Technologies,
Inc.
(a)
..........
24,035
164,640‌
Telos
Corp.
(a)
........................
122,816
389,327‌
Terawulf,
Inc.
(a)
(b)
.....................
599,760
2,626,949‌
Thumzup
Media
Corp.
(a)
(b)
...............
6,176
43,294‌
Upland
Software,
Inc.
(a)
.................
49,189
95,918‌
Veea,
Inc.
(a)
.........................
17,086
31,267‌
Veritone,
Inc.
(a)
(b)
.....................
83,246
104,890‌
Viant
Technology,
Inc.
,
Class
A
(a)
(b)
.........
35,172
465,326‌
VirnetX
Holding
Corp.
(a)
.................
8,464
91,834‌
Weave
Communications,
Inc.
(a)
...........
130,876
1,088,888‌
WM
Technology,
Inc.
,
Class
A
(a)
...........
195,449
175,122‌
Xperi,
Inc.
(a)
(b)
.......................
100,316
793,500‌
Yext,
Inc.
(a)
.........................
232,902
1,979,667‌
ZenaTech,
Inc.
(a)
.....................
14,939
54,826‌
39,780,605‌
Specialized
REITs
—
0.2%
Farmland
Partners,
Inc.
................
93,206
1,072,801‌
Gladstone
Land
Corp.
.................
76,484
777,842‌
Global
Self
Storage,
Inc.
................
24,551
131,103‌
1,981,746‌
Specialty
Retail
—
2.2%
1-800-Flowers.com,
Inc.
,
Class
A
(a)
(b)
........
49,445
243,269‌
aka
Brands
Holding
Corp.
(a)
..............
1,200
12,360‌
America's
Car-Mart,
Inc.
(a)
(b)
..............
16,802
941,584‌
BARK,
Inc.
(a)
(b)
.......................
240,296
211,340‌
Security
Shares
Shares
Value
Specialty
Retail
(continued)
Barnes
&
Noble
Education,
Inc.
(a)
..........
33,554
$
394,931‌
Beyond,
Inc.
(a)
.......................
123,432
849,212‌
Build-A-Bear
Workshop,
Inc.
.............
27,926
1,439,865‌
Caleres,
Inc.
........................
74,191
906,614‌
Cato
Corp.
(The)
,
Class
A
...............
34,613
97,263‌
Children's
Place,
Inc.
(The)
(a)
(b)
............
17,087
75,695‌
Citi
Trends,
Inc.
(a)
.....................
10,765
359,443‌
Designer
Brands,
Inc.
,
Class
A
............
72,048
171,474‌
Destination
XL
Group,
Inc.
(a)
.............
107,061
118,838‌
Duluth
Holdings,
Inc.
,
Class
B
(a)
(b)
..........
31,629
66,421‌
Envela
Corp.
(a)
(b)
.....................
15,343
93,899‌
Genesco,
Inc.
(a)
(b)
.....................
22,834
449,602‌
Grove
Collaborative
Holdings
(a)
(b)
..........
51,293
58,987‌
GrowGeneration
Corp.
(a)
................
123,824
115,788‌
Haverty
Furniture
Cos.,
Inc.
..............
30,468
620,024‌
J
Jill,
Inc.
..........................
16,445
240,755‌
Lands'
End,
Inc.
(a)
(b)
...................
26,747
286,460‌
MarineMax,
Inc.
(a)
.....................
42,676
1,072,875‌
Newegg
Commerce,
Inc.
(a)
(b)
.............
4,151
67,412‌
OneWater
Marine,
Inc.
,
Class
A
(a)
(b)
.........
25,052
335,446‌
PetMed
Express,
Inc.
(a)
.................
35,416
117,581‌
RealReal,
Inc.
(The)
(a)
(b)
.................
213,822
1,024,207‌
RumbleON,
Inc.
,
Class
B
(a)
..............
49,788
115,010‌
Shoe
Carnival,
Inc.
....................
40,796
763,293‌
Sleep
Number
Corp.
(a)
(b)
................
46,837
316,384‌
Sportsman's
Warehouse
Holdings,
Inc.
(a)
.....
84,607
291,894‌
Stitch
Fix,
Inc.
,
Class
A
(a)
................
238,200
881,340‌
ThredUp,
Inc.
,
Class
A
(a)
(b)
...............
205,293
1,537,645‌
Tile
Shop
Holdings,
Inc.
(a)
(b)
..............
64,713
411,575‌
Tilly's,
Inc.
,
Class
A
(a)
(b)
.................
30,656
42,305‌
Torrid
Holdings,
Inc.
(a)
..................
52,922
156,120‌
Winmark
Corp.
......................
6,707
2,532,630‌
Zumiez,
Inc.
(a)
(b)
......................
35,396
469,351‌
17,888,892‌
Technology
Hardware,
Storage
&
Peripherals
—
0.5%
AstroNova,
Inc.
(a)
(b)
....................
15,546
180,178‌
CompoSecure,
Inc.
,
Class
A
(a)
............
98,667
1,390,218‌
CPI
Card
Group,
Inc.
(a)
.................
13,257
314,456‌
Eastman
Kodak
Co.
(a)
(b)
.................
142,633
805,877‌
Foxx
Development
Holdings,
Inc.
(a)
.........
2,245
12,078‌
Immersion
Corp.
.....................
66,708
525,659‌
One
Stop
Systems,
Inc.
(a)
(b)
..............
40,523
143,857‌
Quantum
Corp.
(a)
.....................
13,903
138,613‌
TransAct
Technologies,
Inc.
(a)
(b)
............
20,156
72,763‌
Turtle
Beach
Corp.
(a)
...................
33,557
464,093‌
4,047,792‌
Textiles,
Apparel
&
Luxury
Goods
—
0.3%
Allbirds,
Inc.
,
Class
A
(a)
.................
12,118
128,815‌
Crown
Crafts,
Inc.
....................
22,676
65,080‌
Culp,
Inc.
(a)
.........................
25,139
98,796‌
Fossil
Group,
Inc.
(a)
...................
114,865
170,000‌
Jerash
Holdings
US,
Inc.
................
13,696
44,786‌
Lakeland
Industries,
Inc.
(b)
...............
20,518
279,250‌
Movado
Group,
Inc.
...................
34,377
524,249‌
Playboy,
Inc.
(a)
.......................
132,771
215,089‌
Rocky
Brands,
Inc.
....................
15,851
351,734‌
Superior
Group
of
Cos.,
Inc.
.............
25,207
259,632‌
Unifi,
Inc.
(a)
.........................
33,609
175,439‌
Vera
Bradley,
Inc.
(a)
...................
47,510
104,997‌
2,417,867‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
13
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Tobacco
—
0.4%
Ispire
Technology,
Inc.
(a)
................
42,235
$
108,122‌
Turning
Point
Brands,
Inc.
...............
38,521
2,918,736‌
3,026,858‌
Trading
Companies
&
Distributors
—
1.0%
Alta
Equipment
Group,
Inc.
,
Class
A
........
45,825
289,614‌
BlueLinx
Holdings,
Inc.
(a)
................
17,473
1,299,642‌
EVI
Industries,
Inc.
....................
11,542
251,962‌
Hudson
Technologies,
Inc.
(a)
.............
87,560
710,987‌
Karat
Packaging,
Inc.
..................
15,373
432,904‌
Marwynn
Holdings,
Inc.
(a)
...............
4,647
8,225‌
NPK
International,
Inc.
(a)
................
181,443
1,544,080‌
Titan
Machinery,
Inc.
(a)
(b)
................
46,758
926,276‌
Transcat,
Inc.
(a)
(b)
.....................
20,677
1,777,395‌
Willis
Lease
Finance
Corp.
..............
8,017
1,144,667‌
8,385,752‌
Transportation
Infrastructure
—
0.1%
Sky
Harbour
Group
Corp.
,
Class
A
(a)
(b)
.......
48,450
473,356‌
Water
Utilities
—
0.4%
Cadiz,
Inc.
(a)
(b)
.......................
123,119
368,126‌
Consolidated
Water
Co.
Ltd.
.............
33,951
1,019,209‌
Global
Water
Resources,
Inc.
.............
28,468
290,089‌
Pure
Cycle
Corp.
(a)
(b)
...................
44,345
475,378‌
York
Water
Co.
(The)
..................
32,412
1,024,219‌
3,177,021‌
Wireless
Telecommunication
Services
—
0.1%
KORE
Group
Holdings,
Inc.
(a)
.............
10,067
24,060‌
Spok
Holdings,
Inc.
...................
45,801
809,761‌
SurgePays,
Inc.
(a)
(b)
...................
32,064
100,040‌
933,861‌
Total
Common
Stocks
—
99
.5
%
(Cost:
$
920,870,942
)
..............................
814,117,609‌
Preferred
Stocks
Software
—
0.0%
BTCS,
Inc.
(a)
(c)
.......................
19,145
—‌
Total
Preferred
Stocks
—
0.0
%
(Cost:
$
–
)
.....................................
—‌
Rights
Biotechnology
—
0.0%
(a)(c)
Contra
Aduro
Biotech
I,
CVR
.............
33,109
15,892‌
Oncternal
Therapeutics,
Inc.,
CVR
(b)
........
1,634
1,675‌
Sanofi
Aatd,
Inc.,
CVR
.................
73,455
84,473‌
102,040‌
Diversified
Telecommunication
Services
—
0.0%
Contra
Communications,
CVR
(a)
(c)
.........
4,194
506‌
Pharmaceuticals
—
0.0%
(a)(b)(c)
Contra
CVR
Catalyst,
CVR
..............
37,156
—‌
Optinose,
Inc.,
CVR
...................
473
284‌
284‌
Total
Rights
—
0.0
%
(Cost:
$
51,193
)
.................................
102,830‌
Security
Shares
Shares
Value
Warrants
Electronic
Equipment,
Instruments
&
Components
—
0.0
%
M-Tron
Industries,
Inc.
(
Issued/Exercisable
02/28/25
,
1
Share
for
1
Warrant,
Expires
03/11/28
,
Strike
Price
USD
47.50
)
(a)
(b)
.....
4,991
$
5,173‌
Health
Care
Equipment
&
Supplies
—
0.0
%
Pulse
Biosciences,
Inc.
(
1
Share
for
1
Warrant,
Expires
06/27/29
)
(a)
(b)
................
3,712
7,591‌
Total
Warrants
—
0.0
%
(Cost:
$
—
)
.....................................
12,764‌
Total
Long-Term
Investments
—
99.5%
(Cost:
$
920,922,135
)
..............................
814,233,203‌
Short-Term
Securities
Money
Market
Funds
—
19.3%
(e)(f)
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
4.47
%
(g)
...................
151,789,774
151,850,489‌
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
,
4.30
%
....................
5,562,013
5,562,013‌
Total
Short-Term
Securities
—
19
.3
%
(Cost:
$
157,334,378
)
..............................
157,412,502‌
Total
Investments
—
118
.8
%
(Cost:
$
1,078,256,513
)
............................
971,645,705‌
Liabilities
in
Excess
of
Other
Assets
—
(
18.8
)
%
............
(
153,536,375‌
)
Net
Assets
—
100.0%
...............................
$
818,109,330‌
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
this
security
is
on
loan.
(c)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
(d)
This
security
may
be
resold
to
qualified
foreign
investors
and
foreign
institutional
buyers
under
Regulation
S
of
the
Securities
Act
of
1933.
(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.
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
14
Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the period
ended
June
30,
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
06/30/25
Shares
Held
at
06/30/25
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
..............
$
152,193,743
$
—
$
(
334,858
)
(a)
$
3,034
$
(
11,430
)
$
151,850,489
151,789,774
$
718,939
(b)
$
—
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
1,228,494
4,333,519
(a)
—
—
—
5,562,013
5,562,013
15,042
—
$
3,034
$
(
11,430
)
$
157,412,502
$
733,981
$
—
—
—
(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
Russell
2000
E-Mini
Index
....................................................
35
09/19/25
$
3,835
$
51,567
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Micro-Cap
ETF
15
Fair
Value
Hierarchy
as
of
Period
End
Various
inputs
are
used
in
determining
the
fair
value
of
financial
instruments
at
the
measurement
date.
These
inputs
to
valuation
techniques
are
categorized
into
a
fair
value
hierarchy
consisting
of
three
broad
levels
for
financial
reporting
purposes
as
follows:
Level
1
—
Unadjusted
price
quotations
in
active
markets/exchanges
that
the
Fund
has
the
ability
to
access
for
identical
assets
or
liabilities;
Level
2
—
Inputs
other
than
quoted
prices
included
within
Level
1
that
are
observable
for
the
asset
or
liability,
either
directly
or
indirectly;
and
Level
3
—
Inputs
that
are
unobservable
and
significant
to
the
entire
fair
value
measurement
for
the
asset
or
liability
(including
the
Valuation
Committee's
assumptions
used
in
determining
the
fair
value
of
financial
instruments).
The
hierarchy
gives
the
highest
priority
to
unadjusted
quoted
prices
in
active
markets
for
identical
assets
or
liabilities
(Level
1
measurements)
and
the
lowest
priority
to
unobservable
inputs
(Level
3
measurements).
Accordingly,
the
degree
of
judgment
exercised
in
determining
fair
value
is
greatest
for
instruments
categorized
in
Level
3.
The
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes,
the
fair
value
hierarchy
classification
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
Investments
classified
within
Level
3
have
significant
unobservable
inputs
used
by
the
Valuation
Committee
in
determining
the
price
for
Fair
Valued
Investments.
Level
3
investments
include
equity
or
debt
issued
by
privately
held
companies
or
funds,
that
may
not have
a
secondary
market,
and/
or
may
have
a
limited
number
of
investors.
The
categorization
of
a
value
determined
for
financial
instruments
is
based
on
the
pricing
transparency
of
the
financial
instruments
and
is
not
necessarily
an
indication
of
the
risks
associated
with
investing
in
those
securities.
For
information
about
the
Fund’s
policy
regarding
valuation
of
financial
instruments,
refer
to
its
most
recent
financial
statements.
The
following
table
summarizes
the
Fund’s
financial
instruments
categorized
in
the
fair
value
hierarchy.
The
breakdown
of
the
Fund's
financial
instruments
into
major
categories
is
disclosed
in
the
Schedule
of
Investments
above.
Level
1
Level
2
Level
3
Total
Assets
Investments
Long-Term
Investments
Common
Stocks
.........................................
$
814,090,713
$
26,896
$
—
$
814,117,609
Preferred
Securities
.......................................
—
—
—
—
Rights
................................................
—
—
102,830
102,830
Warrants
..............................................
5,173
7,591
—
12,764
Short-Term
Securities
Money
Market
Funds
......................................
157,412,502
—
—
157,412,502
$
971,508,388
$
34,487
$
102,830
$
971,645,705
Derivative
Financial
Instruments
(a)
Assets
Equity
contracts
...........................................
$
51,567
$
—
$
—
$
51,567
(a)
Derivative
financial
instruments
are
futures
contracts.
Futures
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.
Currency
Abbreviation
USD
United
States
Dollar
Portfolio
Abbreviation
CVR
Contingent
Value
Rights
NVS
Non-Voting
Shares
REIT
Real
Estate
Investment
Trust