Schedule

of

Investments

(unaudited)

June

30,

2025

iShares

®

Expanded

Tech-Software

Sector

ETF

1

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Common

Stocks

Entertainment

—

2.4%

Electronic

Arts,

Inc.

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

871,866

$

139,237,001‌

Take-Two

Interactive

Software,

Inc.

(a)

(b)

......

647,312

157,199,719‌

296,436,720‌

Interactive

Media

&

Services

—

0.3%

Snap,

Inc.

,

Class

A,

NVS

(a)

(b)

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

4,060,486

35,285,623‌

Software

—

97.2%

A10

Networks,

Inc.

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

278,328

5,385,647‌

ACI

Worldwide,

Inc.

(b)

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

400,785

18,400,039‌

Adeia,

Inc.

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

410,935

5,810,621‌

Adobe,

Inc.

(b)

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

1,296,603

501,629,769‌

Agilysys,

Inc.

(b)

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

85,776

9,833,361‌

Alarm.com

Holdings,

Inc.

(b)

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

190,050

10,751,128‌

Alkami

Technology,

Inc.

(a)

(b)

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

259,774

7,829,588‌

ANSYS,

Inc.

(b)

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

335,894

117,972,691‌

Appfolio,

Inc.

,

Class

A

(b)

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

87,940

20,250,823‌

Appian

Corp.

,

Class

A

(a)

(b)

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

165,180

4,932,275‌

AppLovin

Corp.

,

Class

A

(b)

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

846,436

296,320,315‌

Asana,

Inc.

,

Class

A

(a)

(b)

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

351,354

4,743,279‌

Atlassian

Corp.

,

Class

A

(b)

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

631,348

128,220,465‌

Aurora

Innovation,

Inc.

,

Class

A

(a)

(b)

.........

4,065,291

21,302,125‌

Autodesk,

Inc.

(b)

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

817,408

253,044,995‌

AvePoint,

Inc.

,

Class

A

(b)

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

427,062

8,246,567‌

Bentley

Systems,

Inc.

,

Class

B

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

590,972

31,894,759‌

BILL

Holdings,

Inc.

(a)

(b)

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

362,147

16,752,920‌

Blackbaud,

Inc.

(b)

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

143,126

9,190,120‌

BlackBerry

Ltd.

(a)

(b)

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

2,278,009

10,433,281‌

BlackLine,

Inc.

(a)

(b)

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

197,748

11,196,492‌

Box,

Inc.

,

Class

A

(b)

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

553,281

18,905,612‌

Braze,

Inc.

,

Class

A

(b)

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

264,089

7,420,901‌

C3.ai,

Inc.

,

Class

A

(a)

(b)

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

449,334

11,040,136‌

Cadence

Design

Systems,

Inc.

(b)

..........

1,043,202

321,462,696‌

CCC

Intelligent

Solutions

Holdings,

Inc.

(a)

(b)

....

1,838,170

17,297,180‌

Cipher

Mining,

Inc.

(a)

(b)

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

907,702

4,338,816‌

Cleanspark,

Inc.

(a)

(b)

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

1,062,655

11,721,085‌

Clear

Secure,

Inc.

,

Class

A

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

355,700

9,874,232‌

Clearwater

Analytics

Holdings,

Inc.

,

Class

A

(b)

..

924,051

20,264,438‌

Commvault

Systems,

Inc.

(b)

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

168,582

29,388,900‌

Confluent,

Inc.

,

Class

A

(b)

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

1,093,968

27,272,622‌

Core

Scientific,

Inc.

(a)

(b)

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

1,137,957

19,424,926‌

Crowdstrike

Holdings,

Inc.

,

Class

A

(a)

(b)

......

951,627

484,673,147‌

Datadog,

Inc.

,

Class

A

(b)

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

1,220,690

163,975,288‌

Descartes

Systems

Group,

Inc.

(The)

(a)

(b)

.....

327,069

33,244,928‌

DocuSign,

Inc.

(b)

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

773,697

60,263,259‌

Dolby

Laboratories,

Inc.

,

Class

A

..........

234,615

17,422,510‌

Dropbox,

Inc.

,

Class

A

(b)

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

749,675

21,440,705‌

D-Wave

Quantum,

Inc.

(a)

(b)

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

1,025,723

15,016,585‌

Dynatrace,

Inc.

(b)

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

1,145,483

63,242,116‌

E2open

Parent

Holdings,

Inc.

,

Class

A

(b)

.....

812,096

2,623,070‌

Elastic

NV

(b)

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

335,103

28,259,236‌

Fair

Isaac

Corp.

(a)

(b)

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

92,999

169,998,452‌

Five9,

Inc.

(b)

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

291,406

7,716,431‌

Fortinet,

Inc.

(b)

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

2,427,249

256,608,764‌

Freshworks,

Inc.

,

Class

A

(a)

(b)

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

747,548

11,145,941‌

Gen

Digital,

Inc.

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

2,085,322

61,308,467‌

Gitlab,

Inc.

,

Class

A

(a)

(b)

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

484,758

21,867,433‌

Guidewire

Software,

Inc.

(b)

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

320,478

75,456,545‌

HubSpot,

Inc.

(b)

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

201,499

112,160,388‌

Hut

8

Corp.

(a)

(b)

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

350,409

6,517,607‌

Informatica,

Inc.

,

Class

A

(b)

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

314,699

7,662,921‌

Intapp,

Inc.

(b)

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

207,232

10,697,316‌

InterDigital,

Inc.

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

99,102

22,221,641‌

Intuit,

Inc.

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

1,021,363

804,456,140‌

Security

Shares

Shares

Value

Software

(continued)

Jamf

Holding

Corp.

(b)

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

240,397

$

2,286,175‌

Klaviyo,

Inc.

,

Class

A

(b)

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

403,666

13,555,104‌

Lightspeed

Commerce,

Inc.

(a)

(b)

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

472,414

5,531,968‌

LiveRamp

Holdings,

Inc.

(b)

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

248,440

8,208,458‌

Manhattan

Associates,

Inc.

(b)

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

231,972

45,807,511‌

MARA

Holdings,

Inc.

(a)

(b)

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

1,344,601

21,083,344‌

Meridianlink,

Inc.

(b)

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

105,016

1,704,410‌

Microsoft

Corp.

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

2,115,739

1,052,389,736‌

MicroStrategy,

Inc.

,

Class

A

(a)

(b)

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

969,543

391,918,367‌

N-able,

Inc.

(b)

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

275,227

2,229,339‌

nCino,

Inc.

(a)

(b)

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

353,049

9,874,781‌

NCR

Voyix

Corp.

(a)

(b)

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

526,305

6,173,558‌

NextNav,

Inc.

(b)

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

259,839

3,949,553‌

Nutanix,

Inc.

,

Class

A

(b)

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

947,509

72,427,588‌

Onestream,

Inc.

(a)

(b)

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

288,077

8,152,579‌

Open

Text

Corp.

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

994,136

29,028,771‌

Oracle

Corp.

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

5,069,365

1,108,315,270‌

PagerDuty,

Inc.

(b)

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

348,003

5,317,486‌

Palantir

Technologies,

Inc.

,

Class

A

(b)

.......

7,494,364

1,021,631,700‌

Palo

Alto

Networks,

Inc.

(a)

(b)

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

2,529,660

517,669,622‌

Pegasystems,

Inc.

(a)

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

340,064

18,407,664‌

Procore

Technologies,

Inc.

(a)

(b)

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

410,347

28,075,942‌

Progress

Software

Corp.

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

163,242

10,421,369‌

PROS

Holdings,

Inc.

(a)

(b)

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

165,664

2,594,298‌

PTC,

Inc.

(a)

(b)

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

458,276

78,979,286‌

Q2

Holdings,

Inc.

(b)

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

238,040

22,278,164‌

Qualys,

Inc.

(a)

(b)

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

138,793

19,829,356‌

Rapid7,

Inc.

(b)

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

245,437

5,676,958‌

RingCentral,

Inc.

,

Class

A

(b)

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

306,162

8,679,693‌

Riot

Platforms,

Inc.

(a)

(b)

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

1,190,764

13,455,633‌

Roper

Technologies,

Inc.

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

410,782

232,847,669‌

Rubrik,

Inc.

,

Class

A

(a)

(b)

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

471,556

42,246,702‌

Salesforce,

Inc.

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

3,505,367

955,878,527‌

Samsara,

Inc.

,

Class

A

(a)

(b)

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

1,076,467

42,821,857‌

SEMrush

Holdings,

Inc.

,

Class

A

(b)

.........

123,180

1,114,779‌

SentinelOne,

Inc.

,

Class

A

(a)

(b)

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

1,210,613

22,130,006‌

ServiceNow,

Inc.

(a)

(b)

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

601,684

618,579,287‌

SoundHound

AI,

Inc.

,

Class

A

(a)

(b)

..........

1,410,583

15,135,556‌

Sprinklr,

Inc.

,

Class

A

(b)

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

438,574

3,710,336‌

Sprout

Social,

Inc.

,

Class

A

(b)

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

198,238

4,145,157‌

SPS

Commerce,

Inc.

(b)

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

145,098

19,746,387‌

Synopsys,

Inc.

(b)

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

590,751

302,866,223‌

Tenable

Holdings,

Inc.

(b)

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

466,779

15,767,795‌

Teradata

Corp.

(b)

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

361,442

8,063,771‌

Terawulf,

Inc.

(a)

(b)

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

1,171,872

5,132,799‌

Tyler

Technologies,

Inc.

(a)

(b)

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

164,761

97,676,911‌

UiPath,

Inc.

,

Class

A

(b)

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

1,590,344

20,356,403‌

Unity

Software,

Inc.

(a)

(b)

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

1,159,410

28,057,722‌

Varonis

Systems,

Inc.

(b)

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

427,626

21,702,019‌

Verint

Systems,

Inc.

(a)

(b)

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

234,440

4,611,435‌

Vertex,

Inc.

,

Class

A

(b)

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

217,254

7,676,670‌

Workday,

Inc.

,

Class

A

(b)

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

827,693

198,646,320‌

Workiva,

Inc.

,

Class

A

(a)

(b)

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

198,246

13,569,939‌

Zeta

Global

Holdings

Corp.

,

Class

A

(a)

(b)

......

809,470

12,538,690‌

Zoom

Communications,

Inc.

,

Class

A

(b)

......

1,003,331

78,239,751‌

Zscaler,

Inc.

(a)

(b)

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

366,519

115,064,975‌

11,874,513,063‌

Total

Long-Term

Investments

—

99

.9

%

(Cost:

$

12,404,468,265

)

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

12,206,235,406‌

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2025

iShares

®

Expanded

Tech-Software

Sector

ETF

2

(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

Short-Term

Securities

Money

Market

Funds

—

5.2%

(c)(d)

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

,

4.47

%

(e)

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

622,109,709

$

622,358,552‌

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

,

4.30

%

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

8,878,433

8,878,433‌

Total

Short-Term

Securities

—

5

.2

%

(Cost:

$

631,137,797

)

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

631,236,985‌

Total

Investments

—

105

.1

%

(Cost:

$

13,035,606,062

)

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

12,837,472,391‌

Liabilities

in

Excess

of

Other

Assets

—

(

5.1

)

%

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

(

624,270,164‌

)

Net

Assets

—

100.0%

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

$

12,213,202,227‌

(a)

All

or

a

portion

of

this

security

is

on

loan.

(b)

Non-income

producing

security.

(c)

Affiliate

of

the

Fund.

(d)

Annualized

7-day

yield

as

of

period

end.

(e)

All

or

a

portion

of

this

security

was

purchased

with

the

cash

collateral

from

loaned

securities.

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

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

$

670,490,238

$

—

$

(

48,079,526

)

(a)

$

10,566

$

(

62,726

)

$

622,358,552

622,109,709

$

236,573

(b)

$

—

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

11,635,835

—

(

2,757,402

)

(a)

—

—

8,878,433

8,878,433

98,975

—

$

10,566

$

(

62,726

)

$

631,236,985

$

335,548

$

—

—

—

(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

E-Mini

Technology

Select

Sector

Index

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

18

09/19/25

$

4,640

$

197,846

Russell

2000

E-Mini

Index

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

13

09/19/25

1,425

21,870

$

219,716

Schedule

of

Investments

(unaudited)

(continued)

June

30,

2025

iShares

®

Expanded

Tech-Software

Sector

ETF

3

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

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

$

12,206,235,406

$

—

$

—

$

12,206,235,406

Short-Term

Securities

Money

Market

Funds

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

631,236,985

—

—

631,236,985

$

12,837,472,391

$

—

$

—

$

12,837,472,391

Derivative

Financial

Instruments

(a)

Assets

Equity

contracts

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

$

219,716

$

—

$

—

$

219,716

(a)

Derivative

financial

instruments

are

futures

contracts.

Futures

contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

Portfolio

Abbreviation

NVS

Non-Voting

Shares