Schedule

of

Investments

(unaudited)

June

30,

2025

iShares

®

S&P

500

3%

Capped

ETF

1

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Common

Stocks

Aerospace

&

Defense

—

2.6%

Axon

Enterprise,

Inc.

(a)

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

17

$

14,075

Boeing

Co.

(The)

(a)

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

168

35,201

GE

Aerospace

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

238

61,259

General

Dynamics

Corp.

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

56

16,333

Howmet

Aerospace,

Inc.

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

91

16,938

Huntington

Ingalls

Industries,

Inc.

..........

7

1,690

L3Harris

Technologies,

Inc.

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

42

10,535

Lockheed

Martin

Corp.

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

47

21,768

Northrop

Grumman

Corp.

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

30

15,000

RTX

Corp.

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

298

43,514

Textron,

Inc.

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

42

3,372

TransDigm

Group,

Inc.

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

13

19,768

259,453

Air

Freight

&

Logistics

—

0.3%

CH

Robinson

Worldwide,

Inc.

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

28

2,687

Expeditors

International

of

Washington,

Inc.

...

28

3,199

FedEx

Corp.

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

49

11,138

United

Parcel

Service,

Inc.

,

Class

B

........

161

16,251

33,275

Automobile

Components

—

0.0%

Aptiv

plc

(a)

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

49

3,343

Automobiles

—

2.2%

Ford

Motor

Co.

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

861

9,342

General

Motors

Co.

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

217

10,679

Tesla,

Inc.

(a)

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

626

198,855

218,876

Banks

—

4.2%

Bank

of

America

Corp.

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

1,463

69,229

Citigroup,

Inc.

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

413

35,155

Citizens

Financial

Group,

Inc.

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

98

4,385

Fifth

Third

Bancorp

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

147

6,046

Huntington

Bancshares,

Inc.

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

322

5,397

JPMorgan

Chase

&

Co.

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

621

180,034

KeyCorp

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

217

3,780

M&T

Bank

Corp.

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

35

6,790

PNC

Financial

Services

Group,

Inc.

(The)

....

91

16,964

Regions

Financial

Corp.

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

203

4,775

Truist

Financial

Corp.

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

294

12,639

US

Bancorp

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

343

15,521

Wells

Fargo

&

Co.

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

728

58,327

419,042

Beverages

—

1.3%

Brown-Forman

Corp.

,

Class

B,

NVS

........

42

1,130

Coca-Cola

Co.

(The)

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

866

61,269

Constellation

Brands,

Inc.

,

Class

A

.........

35

5,694

Keurig

Dr

Pepper,

Inc.

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

300

9,918

Molson

Coors

Beverage

Co.

,

Class

B

.......

35

1,683

Monster

Beverage

Corp.

(a)

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

154

9,647

PepsiCo,

Inc.

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

306

40,404

129,745

Biotechnology

—

1.8%

AbbVie,

Inc.

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

395

73,320

Amgen,

Inc.

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

119

33,226

Biogen,

Inc.

(a)

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

35

4,396

Gilead

Sciences,

Inc.

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

278

30,822

Incyte

Corp.

(a)

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

35

2,383

Moderna,

Inc.

(a)

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

77

2,124

Regeneron

Pharmaceuticals,

Inc.

..........

23

12,075

Security

Shares

Shares

Value

Biotechnology

(continued)

Vertex

Pharmaceuticals,

Inc.

(a)

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

56

$

24,931

183,277

Broadline

Retail

—

3.1%

Amazon.com,

Inc.

(a)

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

1,365

299,468

eBay,

Inc.

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

105

7,818

307,286

Building

Products

—

0.7%

A

O

Smith

Corp.

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

28

1,836

Allegion

plc

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

21

3,026

Builders

FirstSource,

Inc.

(a)

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

28

3,267

Carrier

Global

Corp.

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

182

13,321

Johnson

Controls

International

plc

.........

147

15,526

Lennox

International,

Inc.

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

7

4,013

Masco

Corp.

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

49

3,154

Trane

Technologies

plc

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

49

21,433

65,576

Capital

Markets

—

4.0%

Ameriprise

Financial,

Inc.

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

21

11,208

Bank

of

New

York

Mellon

Corp.

(The)

.......

154

14,031

BlackRock,

Inc.

(b)

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

33

34,625

Blackstone,

Inc.

,

Class

A

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

161

24,082

CBOE

Global

Markets,

Inc.

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

21

4,897

Charles

Schwab

Corp.

(The)

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

378

34,489

CME

Group,

Inc.

,

Class

A

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

82

22,601

Coinbase

Global,

Inc.

,

Class

A

(a)

...........

46

16,123

FactSet

Research

Systems,

Inc.

...........

9

4,026

Franklin

Resources,

Inc.

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

70

1,670

Goldman

Sachs

Group,

Inc.

(The)

.........

68

48,127

Intercontinental

Exchange,

Inc.

...........

126

23,117

Invesco

Ltd.

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

98

1,545

KKR

&

Co.,

Inc.

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

147

19,555

MarketAxess

Holdings,

Inc.

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

7

1,563

Moody's

Corp.

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

35

17,556

Morgan

Stanley

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

273

38,455

MSCI,

Inc.

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

17

9,805

Nasdaq,

Inc.

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

91

8,137

Northern

Trust

Corp.

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

42

5,325

Raymond

James

Financial,

Inc.

...........

42

6,442

S&P

Global,

Inc.

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

70

36,910

State

Street

Corp.

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

63

6,699

T.

Rowe

Price

Group,

Inc.

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

49

4,729

395,717

Chemicals

—

1.4%

Air

Products

&

Chemicals,

Inc.

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

49

13,821

Albemarle

Corp.

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

28

1,755

CF

Industries

Holdings,

Inc.

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

36

3,312

Corteva,

Inc.

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

154

11,477

Dow,

Inc.

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

154

4,078

DuPont

de

Nemours,

Inc.

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

91

6,242

Eastman

Chemical

Co.

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

28

2,090

Ecolab,

Inc.

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

56

15,089

International

Flavors

&

Fragrances,

Inc.

......

56

4,119

Linde

plc

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

105

49,264

LyondellBasell

Industries

NV

,

Class

A

.......

56

3,240

Mosaic

Co.

(The)

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

70

2,553

PPG

Industries,

Inc.

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

49

5,574

Sherwin-Williams

Co.

(The)

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

52

17,855

140,469

Commercial

Services

&

Supplies

—

0.7%

Cintas

Corp.

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

77

17,161

Copart,

Inc.

(a)

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

196

9,618

Republic

Services,

Inc.

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

45

11,097

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2025

iShares

®

S&P

500

3%

Capped

ETF

2

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Commercial

Services

&

Supplies

(continued)

Rollins,

Inc.

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

63

$

3,555

Veralto

Corp.

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

56

5,653

Waste

Management,

Inc.

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

84

19,221

66,305

Communications

Equipment

—

1.1%

Arista

Networks,

Inc.

(a)

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

231

23,634

Cisco

Systems,

Inc.

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

882

61,193

F5,

Inc.

(a)

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

14

4,120

Juniper

Networks,

Inc.

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

70

2,795

Motorola

Solutions,

Inc.

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

36

15,137

106,879

Construction

&

Engineering

—

0.1%

Quanta

Services,

Inc.

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

33

12,477

Construction

Materials

—

0.2%

Martin

Marietta

Materials,

Inc.

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

14

7,685

Vulcan

Materials

Co.

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

30

7,825

15,510

Consumer

Finance

—

0.8%

American

Express

Co.

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

123

39,234

Capital

One

Financial

Corp.

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

143

30,425

Synchrony

Financial

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

84

5,606

75,265

Consumer

Staples

Distribution

&

Retail

—

2.3%

Costco

Wholesale

Corp.

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

99

98,004

Dollar

General

Corp.

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

49

5,604

Dollar

Tree,

Inc.

(a)

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

42

4,160

Kroger

Co.

(The)

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

137

9,827

Sysco

Corp.

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

105

7,953

Target

Corp.

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

98

9,668

Walgreens

Boots

Alliance,

Inc.

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

161

1,848

Walmart,

Inc.

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

965

94,358

231,422

Containers

&

Packaging

—

0.3%

Amcor

plc

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

505

4,641

Avery

Dennison

Corp.

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

18

3,158

Ball

Corp.

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

63

3,534

International

Paper

Co.

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

119

5,573

Packaging

Corp.

of

America

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

21

3,957

Smurfit

WestRock

plc

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

112

4,833

25,696

Distributors

—

0.1%

Genuine

Parts

Co.

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

28

3,397

LKQ

Corp.

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

56

2,073

Pool

Corp.

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

9

2,623

8,093

Diversified

Telecommunication

Services

—

0.9%

AT&T,

Inc.

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

1,609

46,565

Verizon

Communications,

Inc.

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

931

40,284

86,849

Electric

Utilities

—

1.8%

Alliant

Energy

Corp.

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

56

3,386

American

Electric

Power

Co.,

Inc.

..........

119

12,348

Constellation

Energy

Corp.

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

70

22,593

Duke

Energy

Corp.

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

175

20,650

Edison

International

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

84

4,335

Entergy

Corp.

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

98

8,146

Evergy,

Inc.

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

49

3,378

Eversource

Energy

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

84

5,344

Exelon

Corp.

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

224

9,726

Security

Shares

Shares

Value

Electric

Utilities

(continued)

FirstEnergy

Corp.

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

112

$

4,509

NextEra

Energy,

Inc.

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

455

31,586

NRG

Energy,

Inc.

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

42

6,744

PG&E

Corp.

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

483

6,733

Pinnacle

West

Capital

Corp.

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

28

2,505

PPL

Corp.

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

161

5,456

Southern

Co.

(The)

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

245

22,498

Xcel

Energy,

Inc.

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

126

8,581

178,518

Electrical

Equipment

—

1.1%

AMETEK,

Inc.

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

52

9,410

Eaton

Corp.

plc

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

87

31,058

Emerson

Electric

Co.

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

126

16,800

GE

Vernova,

Inc.

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

62

32,807

Generac

Holdings,

Inc.

(a)

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

14

2,005

Hubbell,

Inc.

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

12

4,901

Rockwell

Automation,

Inc.

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

25

8,304

105,285

Electronic

Equipment,

Instruments

&

Components

—

0.8%

Amphenol

Corp.

,

Class

A

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

266

26,268

CDW

Corp.

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

28

5,001

Corning,

Inc.

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

168

8,835

Jabil,

Inc.

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

24

5,234

Keysight

Technologies,

Inc.

(a)

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

39

6,391

Ralliant

Corp.

(a)

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

1

32

TE

Connectivity

plc

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

63

10,626

Teledyne

Technologies,

Inc.

(a)

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

10

5,123

Trimble,

Inc.

(a)

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

56

4,255

Zebra

Technologies

Corp.

,

Class

A

(a)

........

11

3,392

75,157

Energy

Equipment

&

Services

—

0.2%

Baker

Hughes

Co.

,

Class

A

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

217

8,320

Halliburton

Co.

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

189

3,852

Schlumberger

NV

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

308

10,410

22,582

Entertainment

—

2.1%

Electronic

Arts,

Inc.

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

49

7,825

Live

Nation

Entertainment,

Inc.

(a)

..........

35

5,295

Netflix,

Inc.

(a)

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

95

127,218

Take-Two

Interactive

Software,

Inc.

(a)

........

38

9,228

TKO

Group

Holdings,

Inc.

,

Class

A

.........

14

2,547

Walt

Disney

Co.

(The)

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

399

49,480

Warner

Bros

Discovery,

Inc.

(a)

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

497

5,696

207,289

Financial

Services

—

5.1%

Apollo

Global

Management,

Inc.

...........

98

13,903

Berkshire

Hathaway,

Inc.

,

Class

B

(a)

........

410

199,166

Corpay,

Inc.

(a)

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

16

5,309

Fidelity

National

Information

Services,

Inc.

....

119

9,688

Fiserv,

Inc.

(a)

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

126

21,724

Global

Payments,

Inc.

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

56

4,482

Jack

Henry

&

Associates,

Inc.

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

14

2,522

Mastercard,

Inc.

,

Class

A

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

181

101,711

PayPal

Holdings,

Inc.

(a)

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

217

16,128

Visa,

Inc.

,

Class

A

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

382

135,629

510,262

Food

Products

—

0.7%

Archer-Daniels-Midland

Co.

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

105

5,542

Bunge

Global

SA

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

28

2,248

Campbell's

Co.

(The)

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

42

1,287

Conagra

Brands,

Inc.

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

105

2,149

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2025

iShares

®

S&P

500

3%

Capped

ETF

3

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Food

Products

(continued)

General

Mills,

Inc.

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

119

$

6,166

Hershey

Co.

(The)

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

35

5,808

Hormel

Foods

Corp.

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

63

1,906

J

M

Smucker

Co.

(The)

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

21

2,062

Kellanova

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

63

5,010

Kraft

Heinz

Co.

(The)

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

196

5,061

Lamb

Weston

Holdings,

Inc.

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

35

1,815

McCormick

&

Co.,

Inc.

(Non-Voting)

,

NVS

....

56

4,246

Mondelez

International,

Inc.

,

Class

A

........

287

19,355

Tyson

Foods,

Inc.

,

Class

A

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

63

3,524

66,179

Gas

Utilities

—

0.1%

Atmos

Energy

Corp.

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

35

5,394

Ground

Transportation

—

1.1%

CSX

Corp.

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

427

13,933

JB

Hunt

Transport

Services,

Inc.

..........

17

2,441

Norfolk

Southern

Corp.

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

49

12,542

Old

Dominion

Freight

Line,

Inc.

...........

42

6,817

Uber

Technologies,

Inc.

(a)

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

462

43,105

Union

Pacific

Corp.

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

133

30,601

109,439

Health

Care

Equipment

&

Supplies

—

2.7%

Abbott

Laboratories

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

389

52,908

Align

Technology,

Inc.

(a)

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

14

2,650

Baxter

International,

Inc.

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

112

3,391

Becton

Dickinson

&

Co.

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

63

10,852

Boston

Scientific

Corp.

(a)

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

329

35,338

Cooper

Cos.,

Inc.

(The)

(a)

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

42

2,989

Dexcom,

Inc.

(a)

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

84

7,332

Edwards

Lifesciences

Corp.

(a)

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

133

10,402

GE

HealthCare

Technologies,

Inc.

.........

98

7,259

Hologic,

Inc.

(a)

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

49

3,193

IDEXX

Laboratories,

Inc.

(a)

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

18

9,654

Insulet

Corp.

(a)

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

16

5,027

Intuitive

Surgical,

Inc.

(a)

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

80

43,473

Medtronic

plc

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

287

25,018

ResMed,

Inc.

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

33

8,514

Solventum

Corp.

(a)

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

28

2,123

STERIS

plc

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

21

5,045

Stryker

Corp.

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

77

30,463

Zimmer

Biomet

Holdings,

Inc.

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

42

3,831

269,462

Health

Care

Providers

&

Services

—

2.1%

Cardinal

Health,

Inc.

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

56

9,408

Cencora,

Inc.

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

39

11,694

Centene

Corp.

(a)

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

112

6,079

Cigna

Group

(The)

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

60

19,835

CVS

Health

Corp.

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

283

19,521

DaVita,

Inc.

(a)

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

7

997

Elevance

Health,

Inc.

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

50

19,448

HCA

Healthcare,

Inc.

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

40

15,324

Henry

Schein,

Inc.

(a)

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

28

2,045

Humana,

Inc.

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

28

6,846

Labcorp

Holdings,

Inc.

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

19

4,988

McKesson

Corp.

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

28

20,518

Molina

Healthcare,

Inc.

(a)

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

12

3,575

Quest

Diagnostics,

Inc.

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

25

4,491

UnitedHealth

Group,

Inc.

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

203

63,330

Universal

Health

Services,

Inc.

,

Class

B

.....

14

2,536

210,635

Security

Shares

Shares

Value

Health

Care

REITs

—

0.3%

Alexandria

Real

Estate

Equities,

Inc.

........

35

$

2,542

Healthpeak

Properties,

Inc.

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

154

2,697

Ventas,

Inc.

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

98

6,189

Welltower,

Inc.

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

139

21,368

32,796

Hotel

&

Resort

REITs

—

0.0%

Host

Hotels

&

Resorts,

Inc.

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

154

2,365

Hotels,

Restaurants

&

Leisure

—

2.5%

Airbnb,

Inc.

,

Class

A

(a)

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

98

12,969

Booking

Holdings,

Inc.

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

7

40,525

Caesars

Entertainment,

Inc.

(a)

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

49

1,391

Carnival

Corp.

(a)

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

231

6,496

Chipotle

Mexican

Grill,

Inc.

(a)

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

308

17,294

Darden

Restaurants,

Inc.

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

28

6,103

Domino's

Pizza,

Inc.

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

7

3,154

DoorDash,

Inc.

,

Class

A

(a)

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

79

19,474

Expedia

Group,

Inc.

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

28

4,723

Hilton

Worldwide

Holdings,

Inc.

...........

56

14,915

Las

Vegas

Sands

Corp.

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

77

3,350

Marriott

International,

Inc.

,

Class

A

.........

51

13,934

McDonald's

Corp.

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

161

47,040

MGM

Resorts

International

(a)

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

49

1,685

Norwegian

Cruise

Line

Holdings

Ltd.

(a)

.......

98

1,988

Royal

Caribbean

Cruises

Ltd.

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

56

17,536

Starbucks

Corp.

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

259

23,732

Wynn

Resorts

Ltd.

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

21

1,967

Yum!

Brands,

Inc.

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

63

9,335

247,611

Household

Durables

—

0.3%

DR

Horton,

Inc.

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

63

8,122

Garmin

Ltd.

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

35

7,305

Lennar

Corp.

,

Class

A

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

49

5,420

Mohawk

Industries,

Inc.

(a)

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

14

1,468

NVR,

Inc.

(a)

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

1

7,386

PulteGroup,

Inc.

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

42

4,429

34,130

Household

Products

—

1.2%

Church

&

Dwight

Co.,

Inc.

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

56

5,382

Clorox

Co.

(The)

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

28

3,362

Colgate-Palmolive

Co.

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

182

16,544

Kimberly-Clark

Corp.

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

75

9,669

Procter

&

Gamble

Co.

(The)

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

524

83,484

118,441

Independent

Power

and

Renewable

Electricity

Producers

—

0.2%

AES

Corp.

(The)

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

154

1,620

Vistra

Corp.

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

77

14,923

16,543

Industrial

Conglomerates

—

0.5%

3M

Co.

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

119

18,116

Honeywell

International,

Inc.

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

144

33,535

51,651

Industrial

REITs

—

0.2%

Prologis,

Inc.

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

203

21,339

Insurance

—

2.4%

Aflac,

Inc.

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

112

11,811

Allstate

Corp.

(The)

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

59

11,877

American

International

Group,

Inc.

.........

133

11,383

Aon

plc

,

Class

A

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

49

17,481

Arch

Capital

Group

Ltd.

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

84

7,648

Arthur

J

Gallagher

&

Co.

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

56

17,927

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2025

iShares

®

S&P

500

3%

Capped

ETF

4

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Insurance

(continued)

Assurant,

Inc.

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

11

$

2,172

Brown

&

Brown,

Inc.

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

56

6,209

Chubb

Ltd.

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

84

24,336

Cincinnati

Financial

Corp.

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

35

5,212

Erie

Indemnity

Co.

,

Class

A,

NVS

..........

7

2,428

Everest

Group

Ltd.

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

9

3,059

Globe

Life,

Inc.

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

21

2,610

Hartford

Insurance

Group,

Inc.

(The)

........

63

7,993

Loews

Corp.

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

42

3,850

Marsh

&

McLennan

Cos.,

Inc.

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

109

23,832

MetLife,

Inc.

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

126

10,133

Principal

Financial

Group,

Inc.

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

49

3,892

Progressive

Corp.

(The)

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

131

34,959

Prudential

Financial,

Inc.

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

77

8,273

Travelers

Cos.,

Inc.

(The)

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

51

13,645

Willis

Towers

Watson

plc

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

21

6,436

WR

Berkley

Corp.

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

63

4,629

241,795

Interactive

Media

&

Services

—

6.0%

Alphabet,

Inc.

,

Class

A

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

903

159,136

Alphabet,

Inc.

,

Class

C,

NVS

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

732

129,849

Match

Group,

Inc.

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

56

1,730

Meta

Platforms,

Inc.

,

Class

A

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

419

309,260

599,975

IT

Services

—

1.3%

Accenture

plc

,

Class

A

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

140

41,845

Akamai

Technologies,

Inc.

(a)

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

35

2,792

Cognizant

Technology

Solutions

Corp.

,

Class

A

.

112

8,739

EPAM

Systems,

Inc.

(a)

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

14

2,475

Gartner,

Inc.

(a)

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

16

6,468

GoDaddy,

Inc.

,

Class

A

(a)

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

32

5,762

International

Business

Machines

Corp.

......

208

61,314

VeriSign,

Inc.

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

18

5,198

134,593

Leisure

Products

—

0.0%

Hasbro,

Inc.

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

28

2,067

Life

Sciences

Tools

&

Services

—

1.0%

Agilent

Technologies,

Inc.

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

63

7,435

Bio-Techne

Corp.

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

35

1,801

Charles

River

Laboratories

International,

Inc.

(a)

.

14

2,124

Danaher

Corp.

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

140

27,655

IQVIA

Holdings,

Inc.

(a)

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

35

5,516

Mettler-Toledo

International,

Inc.

(a)

.........

5

5,874

Revvity,

Inc.

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

28

2,708

Thermo

Fisher

Scientific,

Inc.

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

84

34,059

Waters

Corp.

(a)

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

14

4,886

West

Pharmaceutical

Services,

Inc.

........

14

3,063

95,121

Machinery

—

1.8%

Caterpillar,

Inc.

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

105

40,762

Cummins,

Inc.

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

31

10,153

Deere

&

Co.

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

56

28,476

Dover

Corp.

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

31

5,680

Fortive

Corp.

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

77

4,014

IDEX

Corp.

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

17

2,985

Illinois

Tool

Works,

Inc.

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

61

15,082

Ingersoll

Rand,

Inc.

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

91

7,569

Nordson

Corp.

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

14

3,001

Otis

Worldwide

Corp.

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

91

9,011

PACCAR,

Inc.

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

119

11,312

Parker-Hannifin

Corp.

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

29

20,256

Pentair

plc

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

35

3,593

Security

Shares

Shares

Value

Machinery

(continued)

Snap-on,

Inc.

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

12

$

3,734

Stanley

Black

&

Decker,

Inc.

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

35

2,371

Westinghouse

Air

Brake

Technologies

Corp.

...

38

7,955

Xylem,

Inc.

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

56

7,244

183,198

Media

—

0.5%

Charter

Communications,

Inc.

,

Class

A

(a)

.....

21

8,585

Comcast

Corp.

,

Class

A

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

833

29,730

Fox

Corp.

,

Class

A,

NVS

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

49

2,746

Fox

Corp.

,

Class

B

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

28

1,446

Interpublic

Group

of

Cos.,

Inc.

(The)

........

84

2,056

News

Corp.

,

Class

A,

NVS

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

84

2,496

News

Corp.

,

Class

B

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

28

961

Omnicom

Group,

Inc.

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

42

3,021

Paramount

Global

,

Class

B,

NVS

..........

133

1,716

52,757

Metals

&

Mining

—

0.4%

Freeport-McMoRan,

Inc.

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

315

13,655

Newmont

Corp.

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

252

14,682

Nucor

Corp.

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

49

6,347

Steel

Dynamics,

Inc.

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

28

3,584

38,268

Multi-Utilities

—

0.7%

Ameren

Corp.

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

63

6,050

CenterPoint

Energy,

Inc.

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

147

5,401

CMS

Energy

Corp.

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

63

4,365

Consolidated

Edison,

Inc.

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

77

7,727

Dominion

Energy,

Inc.

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

189

10,682

DTE

Energy

Co.

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

49

6,490

NiSource,

Inc.

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

105

4,236

Public

Service

Enterprise

Group,

Inc.

.......

112

9,428

Sempra

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

140

10,608

WEC

Energy

Group,

Inc.

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

70

7,294

72,281

Office

REITs

—

0.0%

BXP,

Inc.

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

35

2,361

Oil,

Gas

&

Consumable

Fuels

—

3.3%

APA

Corp.

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

84

1,536

Chevron

Corp.

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

363

51,978

ConocoPhillips

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

280

25,127

Coterra

Energy,

Inc.

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

161

4,086

Devon

Energy

Corp.

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

147

4,676

Diamondback

Energy,

Inc.

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

42

5,771

EOG

Resources,

Inc.

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

126

15,071

EQT

Corp.

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

133

7,757

Expand

Energy

Corp.

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

49

5,730

Exxon

Mobil

Corp.

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

966

104,135

Hess

Corp.

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

63

8,728

Kinder

Morgan,

Inc.

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

427

12,554

Marathon

Petroleum

Corp.

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

70

11,628

Occidental

Petroleum

Corp.

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

158

6,638

ONEOK,

Inc.

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

140

11,428

Phillips

66

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

91

10,856

Targa

Resources

Corp.

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

49

8,530

Texas

Pacific

Land

Corp.

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

4

4,225

Valero

Energy

Corp.

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

70

9,409

Williams

Cos.,

Inc.

(The)

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

273

17,147

327,010

Passenger

Airlines

—

0.2%

Delta

Air

Lines,

Inc.

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

140

6,885

Southwest

Airlines

Co.

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

133

4,315

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2025

iShares

®

S&P

500

3%

Capped

ETF

5

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Passenger

Airlines

(continued)

United

Airlines

Holdings,

Inc.

(a)

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

70

$

5,574

16,774

Personal

Care

Products

—

0.1%

Estee

Lauder

Cos.,

Inc.

(The)

,

Class

A

......

49

3,959

Kenvue,

Inc.

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

427

8,937

12,896

Pharmaceuticals

—

3.3%

Bristol-Myers

Squibb

Co.

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

448

20,738

Eli

Lilly

&

Co.

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

176

137,197

Johnson

&

Johnson

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

537

82,027

Merck

&

Co.,

Inc.

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

560

44,330

Pfizer,

Inc.

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

1,253

30,373

Viatris,

Inc.

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

266

2,375

Zoetis,

Inc.

,

Class

A

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

98

15,283

332,323

Professional

Services

—

0.7%

Automatic

Data

Processing,

Inc.

...........

91

28,065

Broadridge

Financial

Solutions,

Inc.

........

28

6,805

Dayforce,

Inc.

(a)

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

35

1,939

Equifax,

Inc.

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

28

7,262

Jacobs

Solutions,

Inc.

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

28

3,681

Leidos

Holdings,

Inc.

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

28

4,417

Paychex,

Inc.

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

70

10,182

Paycom

Software,

Inc.

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

11

2,545

Verisk

Analytics,

Inc.

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

32

9,968

74,864

Real

Estate

Management

&

Development

—

0.2%

(a)

CBRE

Group,

Inc.

,

Class

A

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

63

8,828

CoStar

Group,

Inc.

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

91

7,316

16,144

Residential

REITs

—

0.3%

AvalonBay

Communities,

Inc.

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

32

6,512

Camden

Property

Trust

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

21

2,366

Equity

Residential

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

77

5,197

Essex

Property

Trust,

Inc.

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

14

3,968

Invitation

Homes,

Inc.

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

126

4,133

Mid-America

Apartment

Communities,

Inc.

....

28

4,144

UDR,

Inc.

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

70

2,858

29,178

Retail

REITs

—

0.3%

Federal

Realty

Investment

Trust

...........

14

1,330

Kimco

Realty

Corp.

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

147

3,090

Realty

Income

Corp.

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

196

11,292

Regency

Centers

Corp.

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

35

2,493

Simon

Property

Group,

Inc.

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

70

11,253

29,458

Semiconductors

&

Semiconductor

Equipment

—

9.6%

Advanced

Micro

Devices,

Inc.

(a)

...........

362

51,368

Analog

Devices,

Inc.

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

111

26,420

Applied

Materials,

Inc.

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

182

33,319

Broadcom,

Inc.

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

1,051

289,708

Enphase

Energy,

Inc.

(a)

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

28

1,110

First

Solar,

Inc.

(a)

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

21

3,476

Intel

Corp.

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

959

21,482

KLA

Corp.

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

30

26,872

Lam

Research

Corp.

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

287

27,937

Microchip

Technology,

Inc.

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

119

8,374

Micron

Technology,

Inc.

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

250

30,813

Monolithic

Power

Systems,

Inc.

...........

11

8,045

NVIDIA

Corp.

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

2,038

321,984

Security

Shares

Shares

Value

Semiconductors

&

Semiconductor

Equipment

(continued)

NXP

Semiconductors

NV

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

56

$

12,235

ON

Semiconductor

Corp.

(a)

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

91

4,769

QUALCOMM,

Inc.

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

245

39,019

Skyworks

Solutions,

Inc.

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

35

2,608

Teradyne,

Inc.

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

35

3,147

Texas

Instruments,

Inc.

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

203

42,147

954,833

Software

—

8.3%

Adobe,

Inc.

(a)

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

96

37,140

ANSYS,

Inc.

(a)

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

21

7,376

Autodesk,

Inc.

(a)

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

49

15,169

Cadence

Design

Systems,

Inc.

(a)

..........

61

18,797

Crowdstrike

Holdings,

Inc.

,

Class

A

(a)

........

56

28,521

Fair

Isaac

Corp.

(a)

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

5

9,140

Fortinet,

Inc.

(a)

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

140

14,801

Gen

Digital,

Inc.

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

119

3,499

Intuit,

Inc.

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

62

48,833

Microsoft

Corp.

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

616

306,404

Oracle

Corp.

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

363

79,363

Palantir

Technologies,

Inc.

,

Class

A

(a)

.......

475

64,752

Palo

Alto

Networks,

Inc.

(a)

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

147

30,082

PTC,

Inc.

(a)

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

28

4,825

Roper

Technologies,

Inc.

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

24

13,604

Salesforce,

Inc.

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

214

58,356

ServiceNow,

Inc.

(a)

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

46

47,292

Synopsys,

Inc.

(a)

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

35

17,944

Tyler

Technologies,

Inc.

(a)

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

10

5,928

Workday,

Inc.

,

Class

A

(a)

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

49

11,760

823,586

Specialized

REITs

—

1.0%

American

Tower

Corp.

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

105

23,207

Crown

Castle,

Inc.

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

98

10,067

Digital

Realty

Trust,

Inc.

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

70

12,203

Equinix,

Inc.

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

22

17,500

Extra

Space

Storage,

Inc.

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

49

7,225

Iron

Mountain,

Inc.

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

63

6,462

Public

Storage

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

35

10,270

SBA

Communications

Corp.

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

24

5,636

VICI

Properties,

Inc.

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

231

7,531

Weyerhaeuser

Co.

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

161

4,136

104,237

Specialty

Retail

—

2.0%

AutoZone,

Inc.

(a)

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

4

14,849

Best

Buy

Co.,

Inc.

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

42

2,819

CarMax,

Inc.

(a)

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

35

2,352

Home

Depot,

Inc.

(The)

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

222

81,394

Lowe's

Cos.,

Inc.

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

125

27,734

O'Reilly

Automotive,

Inc.

(a)

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

195

17,575

Ross

Stores,

Inc.

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

77

9,824

TJX

Cos.,

Inc.

(The)

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

252

31,120

Tractor

Supply

Co.

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

119

6,280

Ulta

Beauty,

Inc.

(a)

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

10

4,678

Williams-Sonoma,

Inc.

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

28

4,574

203,199

Technology

Hardware,

Storage

&

Peripherals

—

3.4%

Apple,

Inc.

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

1,464

300,369

Dell

Technologies,

Inc.

,

Class

C

...........

70

8,582

Hewlett

Packard

Enterprise

Co.

...........

294

6,012

HP,

Inc.

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

210

5,137

NetApp,

Inc.

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

42

4,475

Seagate

Technology

Holdings

plc

..........

49

7,072

Super

Micro

Computer,

Inc.

(a)

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

105

5,146

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2025

iShares

®

S&P

500

3%

Capped

ETF

6

(Percentages

shown

are

based

on

Net

Assets)

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:

Security

Shares

Shares

Value

Technology

Hardware,

Storage

&

Peripherals

(continued)

Western

Digital

Corp.

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

77

$

4,927

341,720

Textiles,

Apparel

&

Luxury

Goods

—

0.3%

Deckers

Outdoor

Corp.

(a)

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

35

3,607

Lululemon

Athletica,

Inc.

(a)

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

26

6,177

NIKE,

Inc.

,

Class

B

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

263

18,683

Ralph

Lauren

Corp.

,

Class

A

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

9

2,469

Tapestry,

Inc.

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

49

4,303

35,239

Tobacco

—

0.9%

Altria

Group,

Inc.

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

378

22,162

Philip

Morris

International,

Inc.

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

348

63,381

85,543

Trading

Companies

&

Distributors

—

0.3%

Fastenal

Co.

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

252

10,584

United

Rentals,

Inc.

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

14

10,548

WW

Grainger,

Inc.

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

10

10,402

31,534

Water

Utilities

—

0.1%

American

Water

Works

Co.,

Inc.

...........

42

5,843

Security

Shares

Shares

Value

Wireless

Telecommunication

Services

—

0.2%

T-Mobile

US,

Inc.

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

105

$

25,017

Total

Long-Term

Investments

—

99

.7

%

(Cost:

$

8,798,230

)

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

9,941,447

Short-Term

Securities

Money

Market

Funds

—

0.2%

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

,

4.30

%

(b)

(c)

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

19,796

19,796

Total

Short-Term

Securities

—

0

.2

%

(Cost:

$

19,796

)

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

19,796

Total

Investments

—

99

.9

%

(Cost:

$

8,818,026

)

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

9,961,243

Other

Assets

Less

Liabilities

—

0.1

%

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

6,358

Net

Assets

—

100.0%

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

$

9,967,601

(a)

Non-income

producing

security.

(b)

Affiliate

of

the

Fund.

(c)

Annualized

7-day

yield

as

of

period

end.

Affiliated

Issuer

Value

at

04/15/25

(a)

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:

Treasury,

SL

Agency

Shares

$

—

$

19,796

(b)

$

—

$

—

$

—

$

19,796

19,796

$

102

$

—

BlackRock,

Inc.

..........

—

29,683

—

—

4,942

34,625

33

172

—

$

—

$

4,942

$

54,421

$

274

$

—

—

—

(a)

Commencement

of

operations.

(b)

Represents

net

amount

purchased

(sold).

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2025

iShares

®

S&P

500

3%

Capped

ETF

7

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.

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

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

$

9,941,447

$

—

$

—

$

9,941,447

Short-Term

Securities

Money

Market

Funds

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

19,796

—

—

19,796

$

9,961,243

$

—

$

—

$

9,961,243

Portfolio

Abbreviation

MSCI

Morgan

Stanley

Capital

International

Nasdaq

National

Association

of

Securities

Dealers

Automated

Quotations

NVS

Non-Voting

Shares

REIT

Real

Estate

Investment

Trust