NPORT-EX 2 iShares_Russell_2000_ETF.htm PART F
Schedule
of
Investments
(unaudited)
June
30,
2025
iShares
®
Russell
2000
ETF
1
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Common
Stocks
Aerospace
&
Defense
—
1.6%
AAR
Corp.
(a)
........................
889,735
$
61,204,871‌
AeroVironment,
Inc.
(a)
(b)
.................
704,900
200,861,255‌
AerSale
Corp.
(a)
(b)
.....................
814,838
4,897,176‌
Archer
Aviation,
Inc.
,
Class
A
(a)
(b)
...........
13,617,035
147,744,830‌
Astronics
Corp.
(a)
.....................
759,518
25,428,663‌
Byrna
Technologies,
Inc.
(a)
(b)
..............
451,353
13,937,781‌
Cadre
Holdings,
Inc.
...................
706,459
22,500,719‌
Ducommun,
Inc.
(a)
....................
342,220
28,277,639‌
Eve
Holding,
Inc.
(a)
(b)
...................
1,287,969
8,835,467‌
Intuitive
Machines,
Inc.
,
Class
A
(a)
(b)
.........
2,732,968
29,707,362‌
Kratos
Defense
&
Security
Solutions,
Inc.
(a)
(b)
..
4,108,243
190,827,887‌
Mercury
Systems,
Inc.
(a)
(b)
...............
1,304,593
70,265,379‌
Moog,
Inc.
,
Class
A
...................
704,240
127,446,313‌
National
Presto
Industries,
Inc.
............
128,466
12,584,529‌
Park
Aerospace
Corp.
..................
428,495
6,328,871‌
Redwire
Corp.
(a)
(b)
.....................
841,574
13,717,656‌
Satellogic,
Inc.
,
Class
A
(a)
...............
1,680,577
6,083,689‌
Triumph
Group,
Inc.
(a)
..................
1,859,383
47,879,112‌
V2X,
Inc.
(a)
(b)
........................
429,181
20,836,737‌
VirTra,
Inc.
(a)
........................
55,681
393,665‌
1,039,759,601‌
Air
Freight
&
Logistics
—
0.1%
Forward
Air
Corp.
(a)
(b)
..................
623,915
15,310,874‌
Hub
Group,
Inc.
,
Class
A
................
1,497,961
50,076,836‌
Radiant
Logistics,
Inc.
(a)
................
834,083
5,071,225‌
70,458,935‌
Automobile
Components
—
1.2%
Adient
plc
(a)
.........................
2,103,946
40,942,789‌
American
Axle
&
Manufacturing
Holdings,
Inc.
(a)
(b)
2,986,477
12,184,826‌
Cooper-Standard
Holdings,
Inc.
(a)
(b)
.........
421,564
9,063,626‌
Dana,
Inc.
..........................
3,311,671
56,795,158‌
Dorman
Products,
Inc.
(a)
(b)
...............
687,643
84,353,167‌
Fox
Factory
Holding
Corp.
(a)
..............
1,050,032
27,237,830‌
Garrett
Motion,
Inc.
...................
3,142,062
33,023,072‌
Gentherm,
Inc.
(a)
.....................
758,793
21,466,254‌
Goodyear
Tire
&
Rubber
Co.
(The)
(a)
(b)
.......
6,543,629
67,857,433‌
Holley,
Inc.
(a)
(b)
.......................
1,343,846
2,687,692‌
LCI
Industries
.......................
617,399
56,300,615‌
Luminar
Technologies,
Inc.
,
Class
A
(a)
(b)
......
1,003,526
2,880,119‌
Modine
Manufacturing
Co.
(a)
(b)
............
1,309,280
128,964,080‌
Motorcar
Parts
of
America,
Inc.
(a)
(b)
.........
420,133
4,705,489‌
Patrick
Industries,
Inc.
(b)
................
813,103
75,025,014‌
Phinia,
Inc.
.........................
995,207
44,276,759‌
Solid
Power,
Inc.
,
Class
A
(a)
(b)
.............
3,638,714
7,968,784‌
Standard
Motor
Products,
Inc.
............
522,868
16,062,505‌
Stoneridge,
Inc.
(a)
.....................
95,739
674,002‌
Strattec
Security
Corp.
(a)
(b)
...............
75,027
4,667,430‌
Visteon
Corp.
(a)
(b)
.....................
686,534
64,053,622‌
XPEL,
Inc.
(a)
(b)
(c)
......................
602,141
21,616,862‌
782,807,128‌
Automobiles
—
0.0%
Faraday
Future
Intelligent
Electric,
Inc.
(a)
.....
2,134,801
3,586,466‌
Livewire
Group,
Inc.
(a)
(b)
.................
856,936
3,941,905‌
Winnebago
Industries,
Inc.
..............
690,458
20,023,282‌
27,551,653‌
Banks
—
10.5%
1st
Source
Corp.
.....................
474,892
29,476,546‌
ACNB
Corp.
........................
248,441
10,643,212‌
Amalgamated
Financial
Corp.
............
571,721
17,837,695‌
Amerant
Bancorp,
Inc.
,
Class
A
...........
928,214
16,921,341‌
Ameris
Bancorp
......................
1,652,423
106,911,768‌
Security
Shares
Shares
Value
Banks
(continued)
Ames
National
Corp.
..................
243,711
$
4,340,493‌
Arrow
Financial
Corp.
..................
451,792
11,936,345‌
Associated
Banc-Corp.
.................
4,195,056
102,317,416‌
Atlantic
Union
Bankshares
Corp.
..........
3,582,993
112,076,021‌
Axos
Financial,
Inc.
(a)
..................
1,318,406
100,251,592‌
Banc
of
California,
Inc.
.................
3,450,971
48,486,143‌
BancFirst
Corp.
......................
522,612
64,605,295‌
Bancorp,
Inc.
(The)
(a)
(b)
.................
1,138,755
64,874,872‌
Bank
First
Corp.
.....................
230,651
27,136,090‌
Bank
of
Hawaii
Corp.
..................
1,008,963
68,135,271‌
Bank
of
Marin
Bancorp
.................
422,824
9,657,300‌
Bank
of
NT
Butterfield
&
Son
Ltd.
(The)
......
1,100,022
48,708,974‌
Bank7
Corp.
........................
128,197
5,362,481‌
BankFinancial
Corp.
...................
85,489
989,108‌
BankUnited,
Inc.
.....................
1,910,965
68,011,244‌
Bankwell
Financial
Group,
Inc.
............
185,676
6,689,906‌
Banner
Corp.
.......................
851,427
54,619,042‌
Bar
Harbor
Bankshares
................
428,072
12,825,037‌
BayCom
Corp.
......................
301,382
8,351,295‌
BCB
Bancorp,
Inc.
....................
457,525
3,852,361‌
Berkshire
Hills
Bancorp,
Inc.
.............
1,139,653
28,536,911‌
Blue
Foundry
Bancorp
(a)
(b)
...............
552,875
5,291,014‌
Blue
Ridge
Bankshares,
Inc.
(a)
(b)
...........
1,134,586
4,073,164‌
Bridgewater
Bancshares,
Inc.
(a)
...........
531,908
8,462,656‌
Brookline
Bancorp,
Inc.
.................
2,196,445
23,172,495‌
Burke
&
Herbert
Financial
Services
Corp.
....
330,487
19,739,989‌
Business
First
Bancshares,
Inc.
...........
686,628
16,925,380‌
BV
Financial,
Inc.
(a)
...................
137,428
2,093,028‌
Byline
Bancorp,
Inc.
...................
752,596
20,116,891‌
C&F
Financial
Corp.
...................
57,106
3,525,153‌
Cadence
Bank
......................
3,931,458
125,728,027‌
California
Bancorp
(a)
(b)
..................
557,967
8,793,560‌
Camden
National
Corp.
................
422,595
17,148,905‌
Capital
Bancorp,
Inc.
..................
291,951
9,803,715‌
Capital
City
Bank
Group,
Inc.
.............
386,668
15,215,386‌
Capitol
Federal
Financial,
Inc.
............
3,044,800
18,573,280‌
Carter
Bankshares,
Inc.
(a)
(b)
..............
608,319
10,548,251‌
Cathay
General
Bancorp
................
1,581,884
72,023,179‌
CB
Financial
Services,
Inc.
..............
68,948
1,965,018‌
Central
Pacific
Financial
Corp.
............
566,367
15,875,267‌
CF
Bankshares,
Inc.
...................
52,693
1,263,051‌
Chain
Bridge
Bancorp,
Inc.
,
Class
A
(a)
(b)
......
33,641
866,929‌
Chemung
Financial
Corp.
...............
94,381
4,574,647‌
ChoiceOne
Financial
Services,
Inc.
.........
334,506
9,600,322‌
Citizens
&
Northern
Corp.
...............
416,187
7,882,582‌
Citizens
Community
Bancorp,
Inc.
.........
110,211
1,520,912‌
Citizens
Financial
Services,
Inc.
...........
119,460
7,014,691‌
City
Holding
Co.
.....................
360,875
44,178,318‌
Civista
Bancshares,
Inc.
................
445,704
10,340,333‌
CNB
Financial
Corp.
...................
567,908
12,982,377‌
Coastal
Financial
Corp.
(a)
(b)
..............
323,174
31,305,865‌
Colony
Bankcorp,
Inc.
.................
504,435
8,308,044‌
Columbia
Financial,
Inc.
(a)
(b)
..............
686,840
9,966,048‌
Community
Financial
System,
Inc.
.........
1,324,533
75,326,192‌
Community
Trust
Bancorp,
Inc.
...........
400,743
21,207,320‌
Community
West
Bancshares
............
451,090
8,800,766‌
ConnectOne
Bancorp,
Inc.
..............
1,226,140
28,397,402‌
Customers
Bancorp,
Inc.
(a)
...............
739,317
43,427,481‌
CVB
Financial
Corp.
...................
3,302,879
65,363,975‌
Dime
Community
Bancshares,
Inc.
.........
1,014,127
27,320,581‌
Eagle
Bancorp
Montana,
Inc.
.............
115,390
1,923,551‌
Eagle
Bancorp,
Inc.
...................
743,164
14,476,835‌
Eagle
Financial
Services,
Inc.
............
62,906
1,926,182‌
Eastern
Bankshares,
Inc.
...............
4,986,035
76,136,754‌
ECB
Bancorp,
Inc.
(a)
...................
75,552
1,166,523‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
2
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Banks
(continued)
Enterprise
Bancorp,
Inc.
................
265,762
$
10,534,806‌
Enterprise
Financial
Services
Corp.
........
927,455
51,102,771‌
Equity
Bancshares,
Inc.
,
Class
A
..........
420,369
17,151,055‌
Esquire
Financial
Holdings,
Inc.
...........
183,223
17,343,889‌
ESSA
Bancorp,
Inc.
...................
209,479
4,063,893‌
Farmers
&
Merchants
Bancorp,
Inc.
........
349,099
8,825,223‌
Farmers
National
Banc
Corp.
.............
983,663
13,564,713‌
FB
Bancorp,
Inc.
(a)
....................
369,150
4,152,938‌
FB
Financial
Corp.
....................
902,833
40,898,335‌
Fidelity
D&D
Bancorp,
Inc.
...............
125,965
5,794,390‌
Financial
Institutions,
Inc.
...............
498,734
12,807,489‌
Finward
Bancorp
.....................
37,468
1,034,866‌
Finwise
Bancorp
(a)
....................
113,819
1,708,423‌
First
Bancorp
.......................
4,947,190
126,514,609‌
First
Bancorp,
Inc.
(The)
................
304,564
7,738,971‌
First
Bank
..........................
562,589
8,703,252‌
First
Busey
Corp.
.....................
2,129,092
48,724,270‌
First
Business
Financial
Services,
Inc.
.......
216,077
10,946,461‌
First
Capital,
Inc.
(b)
....................
45,901
1,895,252‌
First
Commonwealth
Financial
Corp.
........
2,581,025
41,890,036‌
First
Community
Bankshares,
Inc.
.........
424,302
16,619,909‌
First
Community
Corp.
.................
95,251
2,322,219‌
First
Financial
Bancorp
.................
2,422,746
58,775,818‌
First
Financial
Bankshares,
Inc.
...........
3,360,129
120,897,441‌
First
Financial
Corp.
...................
297,419
16,117,136‌
First
Foundation,
Inc.
(a)
(b)
................
1,587,525
8,096,378‌
First
Internet
Bancorp
..................
209,329
5,630,950‌
First
Interstate
BancSystem,
Inc.
,
Class
A
....
2,208,386
63,645,685‌
First
Merchants
Corp.
..................
1,468,748
56,253,048‌
First
Mid
Bancshares,
Inc.
...............
583,494
21,875,190‌
First
National
Corp.
(b)
..................
114,846
2,236,052‌
First
Savings
Financial
Group,
Inc.
.........
82,033
2,054,106‌
First
United
Corp.
....................
99,617
3,089,123‌
First
Western
Financial,
Inc.
(a)
(b)
...........
211,728
4,776,584‌
Firstsun
Capital
Bancorp
(a)
(b)
..............
270,011
9,382,882‌
Five
Star
Bancorp
....................
458,114
13,074,574‌
Flagstar
Financial,
Inc.
.................
7,588,746
80,440,708‌
Flushing
Financial
Corp.
................
794,271
9,435,940‌
Franklin
Financial
Services
Corp.
(b)
.........
70,335
2,435,349‌
FS
Bancorp,
Inc.
.....................
191,499
7,541,231‌
Fulton
Financial
Corp.
..................
4,388,840
79,174,674‌
FVCBankcorp,
Inc.
(a)
(b)
.................
395,715
4,669,437‌
GBank
Financial
Holdings,
Inc.
(a)
(b)
.........
201,314
7,128,529‌
German
American
Bancorp,
Inc.
...........
861,361
33,171,012‌
Glacier
Bancorp,
Inc.
..................
2,873,642
123,796,497‌
Great
Southern
Bancorp,
Inc.
.............
230,444
13,545,498‌
Greene
County
Bancorp,
Inc.
.............
183,465
4,076,592‌
Guaranty
Bancshares,
Inc.
..............
222,740
9,453,086‌
Hancock
Whitney
Corp.
................
2,204,262
126,524,639‌
Hanmi
Financial
Corp.
.................
749,067
18,486,974‌
Hanover
Bancorp,
Inc.
.................
59,986
1,373,080‌
HarborOne
Bancorp,
Inc.
...............
985,395
11,509,414‌
Hawthorn
Bancshares,
Inc.
..............
84,496
2,462,213‌
HBT
Financial,
Inc.
....................
385,021
9,706,379‌
Heritage
Commerce
Corp.
...............
1,551,860
15,409,970‌
Heritage
Financial
Corp.
................
853,723
20,352,756‌
Hilltop
Holdings,
Inc.
...................
1,171,335
35,550,017‌
Hingham
Institution
for
Savings
(The)
(b)
......
39,297
9,759,410‌
Home
Bancorp,
Inc.
...................
190,013
9,838,873‌
Home
BancShares,
Inc.
................
4,803,250
136,700,495‌
HomeStreet,
Inc.
(a)
....................
459,246
6,002,345‌
HomeTrust
Bancshares,
Inc.
.............
419,465
15,692,186‌
Hope
Bancorp,
Inc.
...................
3,000,719
32,197,715‌
Horizon
Bancorp,
Inc.
..................
1,133,667
17,435,798‌
Independent
Bank
Corp.
................
1,622,659
85,141,945‌
Security
Shares
Shares
Value
Banks
(continued)
International
Bancshares
Corp.
...........
1,377,114
$
91,660,708‌
Investar
Holding
Corp.
.................
262,081
5,063,405‌
John
Marshall
Bancorp,
Inc.
.............
309,524
5,735,480‌
Kearny
Financial
Corp.
.................
1,428,956
9,231,056‌
Lakeland
Financial
Corp.
................
620,487
38,128,926‌
Landmark
Bancorp,
Inc.
................
65,627
1,735,178‌
LCNB
Corp.
........................
327,583
4,759,781‌
LINKBANCORP,
Inc.
..................
474,685
3,469,947‌
Live
Oak
Bancshares,
Inc.
...............
888,795
26,486,091‌
MainStreet
Bancshares,
Inc.
.............
102,818
1,943,260‌
Mercantile
Bank
Corp.
.................
406,839
18,881,398‌
Meridian
Corp.
......................
138,446
1,784,569‌
Metrocity
Bankshares,
Inc.
..............
521,137
14,894,095‌
Metropolitan
Bank
Holding
Corp.
(a)
(b)
........
255,881
17,911,670‌
Mid
Penn
Bancorp,
Inc.
.................
497,569
14,031,446‌
Middlefield
Banc
Corp.
.................
188,056
5,662,366‌
Midland
States
Bancorp,
Inc.
.............
512,538
8,877,158‌
MidWestOne
Financial
Group,
Inc.
.........
508,480
14,628,970‌
MVB
Financial
Corp.
..................
307,663
6,931,647‌
National
Bank
Holdings
Corp.
,
Class
A
......
953,327
35,854,628‌
National
Bankshares,
Inc.
...............
155,596
4,232,211‌
NB
Bancorp,
Inc.
(a)
(b)
...................
906,888
16,197,020‌
NBT
Bancorp,
Inc.
....................
1,279,396
53,158,904‌
Nicolet
Bankshares,
Inc.
................
341,435
42,160,394‌
Northeast
Bank
......................
185,794
16,533,808‌
Northeast
Community
Bancorp,
Inc.
........
360,014
8,368,525‌
Northfield
Bancorp,
Inc.
................
1,012,570
11,624,304‌
Northpointe
Bancshares,
Inc.
(b)
............
173,942
2,384,745‌
Northrim
Bancorp,
Inc.
.................
142,785
13,316,129‌
Northwest
Bancshares,
Inc.
..............
3,256,723
41,620,920‌
Norwood
Financial
Corp.
................
192,924
4,973,581‌
Oak
Valley
Bancorp
...................
180,694
4,922,105‌
OceanFirst
Financial
Corp.
..............
1,458,629
25,686,457‌
OFG
Bancorp
.......................
1,135,090
48,581,852‌
Ohio
Valley
Banc
Corp.
.................
44,365
1,429,884‌
Old
National
Bancorp
..................
8,059,334
171,986,188‌
Old
Point
Financial
Corp.
(b)
..............
93,892
3,685,261‌
Old
Second
Bancorp,
Inc.
...............
1,099,341
19,502,309‌
OP
Bancorp
........................
214,034
2,780,302‌
Orange
County
Bancorp,
Inc.
.............
264,900
6,845,016‌
Origin
Bancorp,
Inc.
...................
744,769
26,618,044‌
Orrstown
Financial
Services,
Inc.
..........
451,693
14,377,388‌
Pacific
Premier
Bancorp,
Inc.
.............
2,400,025
50,616,527‌
Park
National
Corp.
...................
371,811
62,189,108‌
Parke
Bancorp,
Inc.
...................
338,807
6,901,499‌
Pathward
Financial,
Inc.
(b)
...............
607,599
48,073,233‌
Patriot
National
Bancorp,
Inc.
(a)
(b)
..........
993,776
1,510,540‌
PCB
Bancorp
.......................
338,252
7,096,527‌
Peapack-Gladstone
Financial
Corp.
........
431,303
12,184,310‌
Penns
Woods
Bancorp,
Inc.
..............
119,480
3,627,413‌
Peoples
Bancorp
of
North
Carolina,
Inc.
.....
126,890
3,660,777‌
Peoples
Bancorp,
Inc.
.................
887,898
27,116,405‌
Peoples
Financial
Services
Corp.
..........
238,088
11,754,405‌
Pioneer
Bancorp,
Inc.
(a)
.................
282,402
3,397,296‌
Plumas
Bancorp
.....................
152,772
6,792,243‌
Ponce
Financial
Group,
Inc.
(a)
(b)
...........
484,847
6,710,282‌
Preferred
Bank
......................
185,051
16,015,239‌
Primis
Financial
Corp.
..................
558,723
6,062,145‌
Princeton
Bancorp,
Inc.
.................
140,672
4,296,123‌
Provident
Bancorp,
Inc.
(a)
...............
392,650
4,904,199‌
Provident
Financial
Services,
Inc.
..........
2,976,427
52,176,765‌
QCR
Holdings,
Inc.
...................
417,641
28,357,824‌
RBB
Bancorp
.......................
489,821
8,429,819‌
Red
River
Bancshares,
Inc.
..............
114,292
6,708,940‌
Renasant
Corp.
......................
2,372,801
85,254,740‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
3
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Banks
(continued)
Republic
Bancorp,
Inc.
,
Class
A
...........
229,000
$
16,742,190‌
Rhinebeck
Bancorp,
Inc.
(a)
...............
51,995
609,901‌
Richmond
Mutual
Bancorp,
Inc.
(b)
..........
114,900
1,585,620‌
Riverview
Bancorp,
Inc.
................
311,718
1,714,449‌
S&T
Bancorp,
Inc.
....................
956,183
36,162,841‌
SB
Financial
Group,
Inc.
................
95,822
1,830,200‌
Seacoast
Banking
Corp.
of
Florida
.........
2,123,178
58,642,176‌
ServisFirst
Bancshares,
Inc.
.............
1,288,524
99,873,495‌
Shore
Bancshares,
Inc.
.................
801,451
12,598,810‌
Sierra
Bancorp
......................
374,857
11,129,504‌
Simmons
First
National
Corp.
,
Class
A
......
3,191,084
60,502,953‌
SmartFinancial,
Inc.
...................
403,465
13,629,048‌
Sound
Financial
Bancorp,
Inc.
............
25,981
1,195,126‌
South
Plains
Financial,
Inc.
..............
341,633
12,312,453‌
Southern
First
Bancshares,
Inc.
(a)
..........
203,728
7,747,776‌
Southern
Missouri
Bancorp,
Inc.
...........
266,030
14,573,123‌
Southern
States
Bancshares,
Inc.
..........
216,763
7,883,670‌
Southside
Bancshares,
Inc.
..............
766,894
22,569,690‌
SR
Bancorp,
Inc.
.....................
138,068
1,863,918‌
Stellar
Bancorp,
Inc.
...................
1,188,340
33,249,753‌
Sterling
Bancorp,
Inc.
(a)
(b)
(d)
...............
580,763
6‌
Stock
Yards
Bancorp,
Inc.
...............
656,102
51,818,936‌
Texas
Capital
Bancshares,
Inc.
(a)
..........
1,145,587
90,959,608‌
Third
Coast
Bancshares,
Inc.
(a)
(b)
...........
322,000
10,519,740‌
Timberland
Bancorp,
Inc.
...............
210,899
6,580,049‌
Tompkins
Financial
Corp.
...............
337,491
21,170,810‌
Towne
Bank
........................
1,799,097
61,493,135‌
TriCo
Bancshares
....................
785,974
31,824,087‌
Triumph
Financial,
Inc.
(a)
(b)
...............
562,048
30,974,465‌
TrustCo
Bank
Corp.
...................
456,367
15,251,785‌
Trustmark
Corp.
.....................
1,502,104
54,766,712‌
UMB
Financial
Corp.
..................
1,823,439
191,752,845‌
Union
Bankshares,
Inc.
.................
43,846
1,167,181‌
United
Bankshares,
Inc.
................
3,556,559
129,565,444‌
United
Community
Banks,
Inc.
............
3,008,883
89,634,625‌
United
Security
Bancshares
..............
84,477
730,726‌
Unity
Bancorp,
Inc.
....................
209,629
9,869,333‌
Univest
Financial
Corp.
.................
731,932
21,987,237‌
USCB
Financial
Holdings,
Inc.
,
Class
A
......
264,630
4,376,980‌
Valley
National
Bancorp
................
12,224,403
109,163,919‌
Veritex
Holdings,
Inc.
..................
1,324,638
34,573,052‌
Virginia
National
Bankshares
Corp.
.........
120,985
4,476,445‌
WaFd,
Inc.
.........................
2,033,085
59,528,729‌
Washington
Trust
Bancorp,
Inc.
...........
476,417
13,473,073‌
WesBanco,
Inc.
......................
2,353,945
74,455,280‌
West
Bancorp,
Inc.
....................
459,713
9,024,166‌
Westamerica
Bancorp
.................
630,635
30,547,959‌
Western
New
England
Bancorp,
Inc.
........
282,365
2,606,229‌
WSFS
Financial
Corp.
.................
1,467,834
80,730,870‌
6,709,094,904‌
Beverages
—
0.1%
MGP
Ingredients,
Inc.
..................
352,306
10,558,611‌
National
Beverage
Corp.
(a)
...............
588,799
25,459,669‌
Vita
Coco
Co.,
Inc.
(The)
(a)
(b)
.............
1,003,529
36,227,397‌
Zevia
PBC
,
Class
A
(a)
(b)
.................
745,496
2,400,497‌
74,646,174‌
Biotechnology
—
7.2%
4D
Molecular
Therapeutics,
Inc.
(a)
..........
1,047,326
3,885,579‌
89bio,
Inc.
(a)
(b)
.......................
3,115,282
30,592,069‌
Abeona
Therapeutics,
Inc.
(a)
(b)
............
1,072,814
6,093,584‌
Absci
Corp.
(a)
(b)
......................
2,728,155
7,011,358‌
ACADIA
Pharmaceuticals,
Inc.
(a)
(b)
..........
3,106,852
67,014,798‌
Acrivon
Therapeutics,
Inc.
(a)
..............
31,767
37,803‌
Security
Shares
Shares
Value
Biotechnology
(continued)
Actinium
Pharmaceuticals,
Inc.
(a)
..........
49,300
$
69,020‌
Actuate
Therapeutics,
Inc.
(a)
(b)
.............
84,877
518,598‌
Acumen
Pharmaceuticals,
Inc.
(a)
...........
42,290
49,056‌
ADC
Therapeutics
SA
(a)
(b)
...............
1,896,497
5,082,612‌
ADMA
Biologics,
Inc.
(a)
(b)
................
5,789,023
105,418,109‌
Adverum
Biotechnologies,
Inc.
(a)
...........
50,884
109,401‌
Agenus,
Inc.
(a)
.......................
40,649
185,766‌
Agios
Pharmaceuticals,
Inc.
(a)
(b)
...........
1,410,835
46,924,372‌
Akebia
Therapeutics,
Inc.
(a)
(b)
.............
6,277,109
22,848,677‌
Akero
Therapeutics,
Inc.
(a)
(b)
..............
1,747,112
93,225,896‌
Aldeyra
Therapeutics,
Inc.
(a)
(b)
.............
1,398,625
5,356,734‌
Alector,
Inc.
(a)
(b)
......................
1,989,490
2,785,286‌
Alkermes
plc
(a)
.......................
4,058,430
116,111,682‌
Allogene
Therapeutics,
Inc.
(a)
(b)
............
3,744,340
4,231,104‌
Altimmune,
Inc.
(a)
(b)
....................
1,934,927
7,488,167‌
ALX
Oncology
Holdings,
Inc.
(a)
............
123,318
51,189‌
Amicus
Therapeutics,
Inc.
(a)
(b)
.............
6,996,615
40,090,604‌
AnaptysBio,
Inc.
(a)
(b)
...................
492,949
10,943,468‌
Anavex
Life
Sciences
Corp.
(a)
(b)
...........
2,092,091
19,289,079‌
Anika
Therapeutics,
Inc.
(a)
...............
318,971
3,374,713‌
Annexon,
Inc.
(a)
(b)
.....................
2,412,161
5,789,186‌
Apogee
Therapeutics,
Inc.
(a)
(b)
............
801,062
34,790,123‌
Applied
Therapeutics,
Inc.
(a)
..............
681,607
212,048‌
Arbutus
Biopharma
Corp.
(a)
(b)
.............
3,795,000
11,726,550‌
Arcellx,
Inc.
(a)
(b)
......................
919,749
60,565,472‌
Arcturus
Therapeutics
Holdings,
Inc.
(a)
(b)
......
630,613
8,204,275‌
Arcus
Biosciences,
Inc.
(a)
(b)
..............
1,711,851
13,934,467‌
Arcutis
Biotherapeutics,
Inc.
(a)
(b)
...........
2,680,901
37,586,232‌
Ardelyx,
Inc.
(a)
(b)
......................
5,901,362
23,133,339‌
ArriVent
Biopharma,
Inc.
(a)
(b)
..............
589,421
12,831,695‌
Arrowhead
Pharmaceuticals,
Inc.
(a)
(b)
........
3,013,957
47,620,521‌
ARS
Pharmaceuticals,
Inc.
(a)
(b)
............
1,373,584
23,969,041‌
Artiva
Biotherapeutics,
Inc.
(a)
.............
83,831
126,585‌
Astria
Therapeutics,
Inc.
(a)
(b)
..............
1,073,375
5,753,290‌
Atossa
Therapeutics,
Inc.
(a)
..............
58,267
48,362‌
aTyr
Pharma,
Inc.
(a)
(b)
..................
1,946,396
9,868,228‌
Aura
Biosciences,
Inc.
(a)
(b)
...............
1,015,432
6,356,604‌
Aurinia
Pharmaceuticals,
Inc.
(a)
(b)
..........
3,006,963
25,468,977‌
Avidity
Biosciences,
Inc.
(a)
(b)
..............
2,856,547
81,125,935‌
Avita
Medical,
Inc.
(a)
(b)
..................
678,661
3,590,117‌
Beam
Therapeutics,
Inc.
(a)
(b)
..............
2,386,671
40,597,274‌
Benitec
Biopharma,
Inc.
(a)
(b)
..............
245,750
2,875,275‌
Bicara
Therapeutics,
Inc.
(a)
(b)
.............
843,059
7,832,018‌
BioCryst
Pharmaceuticals,
Inc.
(a)
(b)
.........
5,243,437
46,981,196‌
Biohaven
Ltd.
(a)
(b)
.....................
2,261,932
31,915,861‌
Biomea
Fusion,
Inc.
(a)
..................
43,189
77,740‌
Black
Diamond
Therapeutics,
Inc.
(a)
........
28,936
71,761‌
Blueprint
Medicines
Corp.
(a)
..............
1,597,857
204,813,310‌
Bridgebio
Pharma,
Inc.
(a)
(b)
...............
3,902,761
168,521,220‌
Bright
Minds
Biosciences,
Inc.
(a)
...........
89,427
2,334,939‌
C4
Therapeutics,
Inc.
(a)
.................
118,375
169,276‌
Cabaletta
Bio,
Inc.
(a)
...................
42,750
64,980‌
CAMP4
Therapeutics
Corp.
(a)
.............
33,448
48,500‌
Candel
Therapeutics,
Inc.
(a)
(b)
.............
983,562
4,976,824‌
Capricor
Therapeutics,
Inc.
(a)
(b)
............
970,670
9,638,753‌
Cardiff
Oncology,
Inc.
(a)
(b)
................
1,562,928
4,923,223‌
CareDx,
Inc.
(a)
(b)
......................
1,364,544
26,663,190‌
Cargo
Therapeutics,
Inc.
(a)
(b)
..............
899,524
3,706,039‌
Caribou
Biosciences,
Inc.
(a)
..............
190,578
240,128‌
Cartesian
Therapeutics,
Inc.
(a)
(b)
...........
250,608
2,603,817‌
Catalyst
Pharmaceuticals,
Inc.
(a)
...........
2,895,967
62,842,484‌
Celcuity,
Inc.
(a)
(b)
......................
740,990
9,892,217‌
Celldex
Therapeutics,
Inc.
(a)
(b)
.............
1,632,691
33,225,262‌
Century
Therapeutics,
Inc.
(a)
.............
138,245
77,237‌
CervoMed,
Inc.
(a)
.....................
29,250
183,836‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
4
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Biotechnology
(continued)
CG
oncology,
Inc.
(a)
(b)
..................
1,395,702
$
36,288,252‌
Cibus,
Inc.
,
Class
A
(a)
..................
83,588
115,351‌
Cidara
Therapeutics,
Inc.
(a)
(b)
.............
409,264
19,935,249‌
Climb
Bio,
Inc.
(a)
......................
50,505
62,626‌
Cogent
Biosciences,
Inc.
(a)
(b)
.............
2,645,010
18,991,172‌
Coherus
Oncology,
Inc.
(a)
(b)
..............
2,700,434
1,974,827‌
Compass
Therapeutics,
Inc.
(a)
(b)
...........
2,390,481
6,215,251‌
Corbus
Pharmaceuticals
Holdings,
Inc.
(a)
.....
62,356
430,256‌
Corvus
Pharmaceuticals,
Inc.
(a)
...........
1,255,742
5,022,968‌
Crinetics
Pharmaceuticals,
Inc.
(a)
(b)
.........
2,259,683
64,988,483‌
CRISPR
Therapeutics
AG
(a)
(b)
.............
1,559,037
75,831,560‌
Cullinan
Therapeutics,
Inc.
(a)
(b)
............
1,301,086
9,797,178‌
Cytokinetics,
Inc.
(a)
(b)
...................
2,913,868
96,274,199‌
Day
One
Biopharmaceuticals,
Inc.
(a)
(b)
.......
1,777,238
11,552,047‌
Denali
Therapeutics,
Inc.
(a)
(b)
.............
3,307,851
46,276,835‌
Design
Therapeutics,
Inc.
(a)
(b)
.............
767,278
2,585,727‌
DiaMedica
Therapeutics,
Inc.
(a)
(b)
..........
473,587
1,846,989‌
Dianthus
Therapeutics,
Inc.
(a)
(b)
............
499,610
9,307,734‌
Disc
Medicine,
Inc.
(a)
(b)
.................
615,163
32,579,032‌
Dynavax
Technologies
Corp.
(a)
(b)
...........
2,683,792
26,623,217‌
Dyne
Therapeutics,
Inc.
(a)
(b)
..............
2,342,861
22,304,037‌
Editas
Medicine,
Inc.
(a)
(b)
................
2,162,616
4,757,755‌
Eledon
Pharmaceuticals,
Inc.
(a)
............
1,184,375
3,209,656‌
Elevation
Oncology,
Inc.
(a)
...............
118,890
43,645‌
Emergent
BioSolutions,
Inc.
(a)
(b)
...........
1,202,592
7,672,537‌
Enanta
Pharmaceuticals,
Inc.
(a)
(b)
..........
497,247
3,759,187‌
Entrada
Therapeutics,
Inc.
(a)
(b)
............
691,153
4,644,548‌
Erasca,
Inc.
(a)
(b)
......................
4,419,218
5,612,407‌
Fate
Therapeutics,
Inc.
(a)
(b)
...............
2,714,138
3,039,835‌
Fennec
Pharmaceuticals,
Inc.
(a)
(b)
..........
564,098
4,682,013‌
Fibrobiologics,
Inc.
(a)
...................
147,117
91,536‌
Foghorn
Therapeutics,
Inc.
(a)
(b)
............
750,326
3,526,532‌
Galectin
Therapeutics,
Inc.
(a)
(b)
............
65,105
137,372‌
Generation
Bio
Co.
(a)
..................
249,234
79,780‌
Geron
Corp.
(a)
(b)
......................
15,119,024
21,317,824‌
Gossamer
Bio,
Inc.
(a)
..................
4,254,108
5,232,553‌
GRAIL,
Inc.
(a)
(b)
......................
716,381
36,836,311‌
Greenwich
Lifesciences,
Inc.
(a)
(b)
...........
162,494
1,473,821‌
Gyre
Therapeutics,
Inc.
(a)
(b)
..............
319,152
2,345,767‌
Heron
Therapeutics,
Inc.
(a)
(b)
..............
3,762,224
7,787,804‌
Humacyte,
Inc.
(a)
(b)
....................
3,125,687
6,532,686‌
Ideaya
Biosciences,
Inc.
(a)
(b)
..............
2,098,674
44,114,127‌
IGM
Biosciences,
Inc.
(a)
.................
83,279
93,272‌
ImmunityBio,
Inc.
(a)
(b)
...................
5,730,248
15,127,855‌
Immunome,
Inc.
(a)
(b)
...................
1,836,320
17,077,776‌
Immunovant,
Inc.
(a)
(b)
...................
1,708,759
27,340,144‌
Inhibikase
Therapeutics,
Inc.
(a)
(b)
...........
863,642
1,684,102‌
Inhibrx
Biosciences,
Inc.
(a)
(b)
..............
255,890
3,651,550‌
Inmune
Bio,
Inc.
(a)
(b)
...................
425,274
982,383‌
Inovio
Pharmaceuticals,
Inc.
(a)
............
43,880
89,296‌
Inozyme
Pharma,
Inc.
(a)
................
1,269,886
5,079,544‌
Intellia
Therapeutics,
Inc.
(a)
(b)
.............
2,577,132
24,173,498‌
Invivyd,
Inc.
(a)
.......................
471,179
336,893‌
Iovance
Biotherapeutics,
Inc.
(a)
(b)
...........
6,467,991
11,124,945‌
Ironwood
Pharmaceuticals,
Inc.
,
Class
A
(a)
(b)
...
3,948,589
2,831,928‌
iTeos
Therapeutics,
Inc.
(a)
...............
748,549
7,463,034‌
Jade
Biosciences,
Inc.
(b)
................
613,277
6,126,637‌
Janux
Therapeutics,
Inc.
(a)
(b)
..............
979,643
22,629,753‌
Jasper
Therapeutics,
Inc.
(a)
..............
11,544
64,069‌
KalVista
Pharmaceuticals,
Inc.
(a)
(b)
..........
961,799
10,873,138‌
Keros
Therapeutics,
Inc.
(a)
(b)
..............
845,271
11,284,368‌
Kiniksa
Pharmaceuticals
International
plc
(a)
...
99,120
2,742,650‌
Kodiak
Sciences,
Inc.
(a)
(b)
................
825,131
3,077,739‌
Korro
Bio,
Inc.
(a)
(b)
.....................
172,179
2,150,516‌
Krystal
Biotech,
Inc.
(a)
(b)
.................
618,220
84,980,521‌
Security
Shares
Shares
Value
Biotechnology
(continued)
Kura
Oncology,
Inc.
(a)
(b)
.................
1,973,478
$
11,386,968‌
Kymera
Therapeutics,
Inc.
(a)
(b)
............
1,168,558
50,995,871‌
Kyverna
Therapeutics,
Inc.
(a)
.............
51,382
157,743‌
Larimar
Therapeutics,
Inc.
(a)
(b)
.............
1,039,137
3,003,106‌
Lexeo
Therapeutics,
Inc.
(a)
(b)
..............
621,340
2,497,787‌
MacroGenics,
Inc.
(a)
...................
139,330
168,589‌
Madrigal
Pharmaceuticals,
Inc.
(a)
(b)
.........
421,794
127,651,736‌
MannKind
Corp.
(a)
(b)
...................
7,536,924
28,188,096‌
MeiraGTx
Holdings
plc
(a)
(b)
...............
1,073,300
6,997,916‌
Mersana
Therapeutics,
Inc.
(a)
.............
569,306
168,515‌
Metagenomi,
Inc.
(a)
....................
38,900
57,572‌
Metsera,
Inc.
(a)
(b)
.....................
444,966
12,659,283‌
MiMedx
Group,
Inc.
(a)
(b)
.................
2,995,020
18,299,572‌
Mineralys
Therapeutics,
Inc.
(a)
(b)
...........
976,024
13,205,605‌
Mirum
Pharmaceuticals,
Inc.
(a)
(b)
...........
1,085,110
55,221,248‌
Monopar
Therapeutics,
Inc.
(a)
.............
88,547
3,168,212‌
Monte
Rosa
Therapeutics,
Inc.
(a)
(b)
.........
1,150,656
5,189,459‌
Myriad
Genetics,
Inc.
(a)
.................
2,288,226
12,150,480‌
Neurogene,
Inc.
(a)
(b)
...................
258,003
3,857,145‌
Nkarta,
Inc.
(a)
(b)
......................
1,301,787
2,160,966‌
Novavax,
Inc.
(a)
(b)
.....................
3,754,764
23,655,013‌
Nurix
Therapeutics,
Inc.
(a)
(b)
..............
1,879,887
21,411,913‌
Nuvalent,
Inc.
,
Class
A
(a)
(b)
...............
1,073,374
81,898,436‌
Nuvectis
Pharma,
Inc.
(a)
(b)
...............
273,180
2,040,655‌
Ocugen,
Inc.
(a)
(b)
......................
763,306
740,712‌
Olema
Pharmaceuticals,
Inc.
(a)
(b)
...........
1,464,106
6,237,092‌
Organogenesis
Holdings,
Inc.
,
Class
A
(a)
(b)
....
1,720,973
6,298,761‌
ORIC
Pharmaceuticals,
Inc.
(a)
(b)
...........
1,145,547
11,627,302‌
Oruka
Therapeutics,
Inc.
(b)
...............
544,982
6,109,248‌
Outlook
Therapeutics,
Inc.
(a)
..............
25,386
40,618‌
Ovid
therapeutics,
Inc.
(a)
................
370,494
122,226‌
Palvella
Therapeutics,
Inc.
(a)
(b)
............
156,057
3,517,525‌
PDL
BioPharma,
Inc.
(a)
(d)
................
11,853
—‌
PepGen,
Inc.
(a)
......................
88,893
98,671‌
Perspective
Therapeutics,
Inc.
(a)
(b)
..........
1,467,409
5,047,887‌
Praxis
Precision
Medicines,
Inc.
(a)
(b)
.........
445,120
18,717,296‌
Precigen,
Inc.
(a)
(b)
.....................
3,748,716
5,323,177‌
Prelude
Therapeutics,
Inc.
(a)
..............
77,561
62,778‌
Prime
Medicine,
Inc.
(a)
(b)
................
1,495,519
3,693,932‌
ProKidney
Corp.
,
Class
A
(a)
..............
233,786
138,425‌
Protagonist
Therapeutics,
Inc.
(a)
(b)
..........
1,453,524
80,336,271‌
Protalix
BioTherapeutics,
Inc.
(a)
...........
1,519,679
2,249,125‌
Protara
Therapeutics,
Inc.
(a)
..............
677,000
2,051,310‌
Prothena
Corp.
plc
(a)
(b)
..................
991,789
6,020,159‌
PTC
Therapeutics,
Inc.
(a)
(b)
...............
1,939,155
94,708,330‌
Puma
Biotechnology,
Inc.
(a)
(b)
.............
1,105,175
3,790,750‌
Pyxis
Oncology,
Inc.
(a)
..................
107,117
117,829‌
Q32
Bio,
Inc.
(a)
.......................
38,711
57,679‌
Recursion
Pharmaceuticals,
Inc.
,
Class
A
(a)
(b)
..
8,459,525
42,805,197‌
REGENXBIO,
Inc.
(a)
(b)
..................
1,177,056
9,663,630‌
Relay
Therapeutics,
Inc.
(a)
(b)
..............
3,304,534
11,433,688‌
Renovaro,
Inc.
(a)
.....................
674,101
194,748‌
Replimune
Group,
Inc.
(a)
(b)
...............
1,654,752
15,372,646‌
Revolution
Medicines,
Inc.
(a)
..............
196,187
7,217,720‌
Rezolute,
Inc.
(a)
......................
1,570,739
7,005,496‌
Rhythm
Pharmaceuticals,
Inc.
(a)
(b)
..........
1,361,616
86,040,515‌
Rigel
Pharmaceuticals,
Inc.
(a)
(b)
............
447,110
8,374,370‌
Rocket
Pharmaceuticals,
Inc.
(a)
(b)
..........
2,108,556
5,165,962‌
Sage
Therapeutics,
Inc.
(a)
...............
1,422,077
12,969,342‌
Sana
Biotechnology,
Inc.
(a)
(b)
.............
3,354,955
9,159,027‌
Savara,
Inc.
(a)
(b)
......................
3,171,344
7,230,664‌
Scholar
Rock
Holding
Corp.
(a)
(b)
...........
2,029,016
71,867,747‌
SELLAS
Life
Sciences
Group,
Inc.
(a)
(b)
.......
1,957,048
4,285,935‌
Shattuck
Labs,
Inc.
(a)
..................
217,822
172,471‌
Sionna
Therapeutics,
Inc.
(a)
..............
204,612
3,550,018‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
5
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Biotechnology
(continued)
Skye
Bioscience,
Inc.
(a)
.................
64,185
$
268,293‌
Soleno
Therapeutics,
Inc.
(a)
(b)
.............
1,003,167
84,045,331‌
Solid
Biosciences,
Inc.
(a)
(b)
...............
1,607,093
7,826,543‌
SpringWorks
Therapeutics,
Inc.
(a)
..........
1,829,091
85,948,986‌
Spyre
Therapeutics,
Inc.
(a)
(b)
..............
1,239,653
18,557,605‌
Stoke
Therapeutics,
Inc.
(a)
(b)
..............
1,016,332
11,535,368‌
Sutro
Biopharma,
Inc.
(a)
.................
190,780
136,198‌
Syndax
Pharmaceuticals,
Inc.
(a)
(b)
..........
2,127,771
19,926,575‌
Tango
Therapeutics,
Inc.
(a)
(b)
..............
1,870,277
9,575,818‌
Taysha
Gene
Therapies,
Inc.
(a)
(b)
...........
4,211,175
9,727,814‌
Tectonic
Therapeutic,
Inc.
(a)
(b)
.............
239,817
4,765,164‌
Tenaya
Therapeutics,
Inc.
(a)
..............
280,118
171,208‌
Tevogen
Bio
Holdings,
Inc.
(a)
.............
506,323
632,904‌
TG
Therapeutics,
Inc.
(a)
(b)
................
3,625,499
130,481,709‌
Tonix
Pharmaceuticals
Holding
Corp.
(a)
(b)
.....
140,615
5,059,328‌
Tourmaline
Bio,
Inc.
(a)
(b)
.................
487,935
7,802,081‌
Travere
Therapeutics,
Inc.
(a)
(b)
............
2,208,545
32,686,466‌
TriSalus
Life
Sciences,
Inc.
(a)
.............
180,851
985,638‌
TScan
Therapeutics,
Inc.
(a)
..............
60,622
87,902‌
TuHURA
Biosciences,
Inc.
(a)
.............
402,988
898,663‌
Twist
Bioscience
Corp.
(a)
(b)
...............
1,477,323
54,350,713‌
Tyra
Biosciences,
Inc.
(a)
(b)
...............
593,286
5,677,747‌
Upstream
Bio,
Inc.
(a)
(b)
..................
843,283
9,259,247‌
UroGen
Pharma
Ltd.
(a)
(b)
................
928,587
12,721,642‌
Vanda
Pharmaceuticals,
Inc.
(a)
(b)
...........
1,392,231
6,571,330‌
Vaxcyte,
Inc.
(a)
(b)
......................
3,139,475
102,064,332‌
Vera
Therapeutics,
Inc.
,
Class
A
(a)
(b)
.........
1,282,274
30,210,375‌
Veracyte,
Inc.
(a)
(b)
.....................
1,961,003
53,005,911‌
Verastem,
Inc.
(a)
(b)
.....................
1,166,560
4,841,224‌
Vericel
Corp.
(a)
(b)
......................
1,256,897
53,480,967‌
Verve
Therapeutics,
Inc.
(a)
(b)
..............
1,710,529
19,209,241‌
Vir
Biotechnology,
Inc.
(a)
(b)
...............
2,264,953
11,415,363‌
Viridian
Therapeutics,
Inc.
(a)
(b)
.............
1,750,246
24,468,439‌
Voyager
Therapeutics,
Inc.
(a)
(b)
............
1,193,399
3,711,471‌
Werewolf
Therapeutics,
Inc.
(a)
............
111,909
121,981‌
X4
Pharmaceuticals,
Inc.
(a)
..............
84,030
159,657‌
XBiotech,
Inc.
(a)
......................
32,550
96,674‌
Xencor,
Inc.
(a)
(b)
......................
1,752,821
13,777,173‌
Xenon
Pharmaceuticals,
Inc.
(a)
(b)
...........
1,859,700
58,208,610‌
XOMA
Royalty
Corp.
(a)
(b)
................
223,642
5,635,778‌
Y-mAbs
Therapeutics,
Inc.
(a)
(b)
............
902,531
4,070,415‌
Zenas
Biopharma,
Inc.
(a)
(b)
...............
397,523
3,851,998‌
Zentalis
Pharmaceuticals,
Inc.
(a)
...........
252,306
292,675‌
Zura
Bio
Ltd.
,
Class
A
(a)
.................
95,732
100,519‌
Zymeworks,
Inc.
(a)
(b)
...................
1,273,277
15,979,626‌
4,563,863,295‌
Broadline
Retail
—
0.1%
1stdibs.com,
Inc.
(a)
....................
46,359
127,487‌
Groupon,
Inc.
(a)
(b)
.....................
627,945
21,004,760‌
Kohl's
Corp.
(b)
.......................
2,724,843
23,106,669‌
Savers
Value
Village,
Inc.
(a)
(b)
.............
573,129
5,845,916‌
50,084,832‌
Building
Products
—
1.4%
American
Woodmark
Corp.
(a)
.............
373,069
19,910,693‌
Apogee
Enterprises,
Inc.
................
530,929
21,555,717‌
AZZ,
Inc.
..........................
739,700
69,886,856‌
Caesarstone
Ltd.
(a)
....................
60,262
118,716‌
CSW
Industrials,
Inc.
(b)
.................
407,314
116,829,875‌
Gibraltar
Industries,
Inc.
(a)
...............
748,520
44,162,680‌
Griffon
Corp.
........................
981,929
71,062,202‌
Insteel
Industries,
Inc.
..................
466,656
17,364,270‌
Janus
International
Group,
Inc.
(a)
(b)
.........
3,387,622
27,575,243‌
JELD-WEN
Holding,
Inc.
(a)
(b)
..............
2,116,912
8,298,295‌
Security
Shares
Shares
Value
Building
Products
(continued)
Masterbrand,
Inc.
(a)
(b)
..................
3,179,276
$
34,749,487‌
Quanex
Building
Products
Corp.
...........
1,174,960
22,206,744‌
Resideo
Technologies,
Inc.
(a)
(b)
............
3,725,577
82,186,229‌
Tecnoglass,
Inc.
......................
611,111
47,275,547‌
UFP
Industries,
Inc.
...................
1,509,293
149,963,352‌
Zurn
Elkay
Water
Solutions
Corp.
..........
3,750,492
137,155,492‌
870,301,398‌
Capital
Markets
—
1.7%
Acadian
Asset
Management,
Inc.
..........
706,311
24,890,400‌
AlTi
Global,
Inc.
,
Class
A
(a)
(b)
.............
972,464
4,035,726‌
Artisan
Partners
Asset
Management,
Inc.
,
Class
A
.............................
1,590,688
70,515,199‌
Bakkt
Holdings,
Inc.
,
Class
A
(a)
............
95,593
1,333,522‌
BGC
Group,
Inc.
,
Class
A
...............
9,002,355
92,094,092‌
Cohen
&
Steers,
Inc.
..................
701,414
52,851,545‌
Diamond
Hill
Investment
Group,
Inc.
........
71,621
10,407,247‌
DigitalBridge
Group,
Inc.
,
Class
A
(b)
.........
4,303,189
44,538,006‌
Donnelley
Financial
Solutions,
Inc.
(a)
(b)
.......
667,096
41,126,468‌
Forge
Global
Holdings,
Inc.
(a)
(b)
............
251,829
4,794,824‌
GCM
Grosvenor,
Inc.
,
Class
A
............
1,177,719
13,614,432‌
Hamilton
Lane,
Inc.
,
Class
A
.............
39,681
5,639,464‌
Marex
Group
plc
.....................
802,252
31,664,886‌
MarketWise,
Inc.
(b)
....................
54,511
1,078,773‌
Moelis
&
Co.
,
Class
A
..................
1,470,957
91,670,040‌
Open
Lending
Corp.
,
Class
A
(a)
(b)
..........
2,547,924
4,942,973‌
P10,
Inc.
,
Class
A
....................
1,134,248
11,592,015‌
Patria
Investments
Ltd.
,
Class
A
...........
1,513,926
21,285,800‌
Perella
Weinberg
Partners
,
Class
C
........
1,548,200
30,066,044‌
Piper
Sandler
Cos.
....................
441,986
122,845,589‌
PJT
Partners,
Inc.
,
Class
A
(b)
.............
583,871
96,344,554‌
Siebert
Financial
Corp.
(a)
(b)
...............
307,974
1,361,245‌
Silvercrest
Asset
Management
Group,
Inc.
,
Class
A
.............................
248,776
3,945,587‌
StepStone
Group,
Inc.
,
Class
A
...........
1,593,569
88,443,079‌
StoneX
Group,
Inc.
(a)
..................
1,139,046
103,812,652‌
Value
Line,
Inc.
......................
21,102
826,143‌
Victory
Capital
Holdings,
Inc.
,
Class
A
.......
1,124,888
71,621,619‌
Virtus
Investment
Partners,
Inc.
...........
170,843
30,990,920‌
Westwood
Holdings
Group,
Inc.
...........
86,555
1,350,258‌
WisdomTree,
Inc.
.....................
3,079,804
35,448,544‌
1,115,131,646‌
Chemicals
—
1.7%
AdvanSix,
Inc.
.......................
665,572
15,807,335‌
American
Vanguard
Corp.
(a)
..............
628,625
2,464,210‌
Arq,
Inc.
(a)
(b)
.........................
782,215
4,200,495‌
ASP
Isotopes,
Inc.
(a)
(b)
..................
1,439,073
10,591,577‌
Aspen
Aerogels,
Inc.
(a)
(b)
................
1,652,232
9,781,213‌
Avient
Corp.
........................
2,307,722
74,562,498‌
Balchem
Corp.
......................
816,577
129,999,058‌
Cabot
Corp.
........................
1,357,853
101,838,975‌
Chemours
Co.
(The)
...................
3,731,793
42,729,030‌
Core
Molding
Technologies,
Inc.
(a)
..........
204,912
3,399,490‌
Ecovyst,
Inc.
(a)
(b)
......................
2,730,547
22,472,402‌
Flotek
Industries,
Inc.
(a)
.................
329,635
4,865,413‌
Ginkgo
Bioworks
Holdings,
Inc.
(a)
..........
851,894
9,583,808‌
Hawkins,
Inc.
.......................
487,208
69,232,257‌
HB
Fuller
Co.
.......................
1,365,878
82,157,562‌
Ingevity
Corp.
(a)
......................
910,723
39,243,054‌
Innospec,
Inc.
.......................
625,195
52,572,648‌
Intrepid
Potash,
Inc.
(a)
(b)
.................
279,900
10,000,827‌
Koppers
Holdings,
Inc.
.................
487,171
15,662,548‌
Kronos
Worldwide,
Inc.
.................
555,238
3,442,476‌
LSB
Industries,
Inc.
(a)
(b)
.................
1,377,683
10,745,927‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
6
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Chemicals
(continued)
Mativ
Holdings,
Inc.
...................
1,368,220
$
9,331,260‌
Minerals
Technologies,
Inc.
..............
800,071
44,059,910‌
Northern
Technologies
International
Corp.
....
33,744
250,043‌
Orion
SA
..........................
1,416,562
14,859,735‌
Perimeter
Solutions,
Inc.
(a)
(b)
..............
3,482,457
48,475,801‌
PureCycle
Technologies,
Inc.
(a)
(b)
...........
3,246,194
44,472,858‌
Quaker
Chemical
Corp.
................
350,114
39,191,761‌
Rayonier
Advanced
Materials,
Inc.
(a)
........
1,606,277
6,184,166‌
Sensient
Technologies
Corp.
.............
1,056,166
104,053,474‌
Solesence,
Inc.
(a)
.....................
340,491
1,484,541‌
Stepan
Co.
.........................
537,022
29,310,661‌
Trinseo
plc
.........................
695,464
2,169,848‌
Tronox
Holdings
plc
...................
2,993,905
15,179,098‌
Valhi,
Inc.
..........................
69,168
1,117,755‌
1,075,493,714‌
Commercial
Services
&
Supplies
—
1.8%
ABM
Industries,
Inc.
...................
1,557,483
73,528,772‌
ACCO
Brands
Corp.
...................
2,265,375
8,110,043‌
Acme
United
Corp.
....................
50,126
2,077,723‌
ACV
Auctions,
Inc.
,
Class
A
(a)
(b)
............
4,192,278
67,998,749‌
BrightView
Holdings,
Inc.
(a)
(b)
.............
1,520,596
25,317,923‌
Brink's
Co.
(The)
.....................
1,082,663
96,670,979‌
Casella
Waste
Systems,
Inc.
,
Class
A
(a)
......
1,563,003
180,339,286‌
CECO
Environmental
Corp.
(a)
(b)
...........
727,508
20,595,751‌
Cimpress
plc
(a)
(b)
.....................
380,646
17,890,362‌
CompX
International,
Inc.
...............
30,151
801,112‌
CoreCivic,
Inc.
(a)
.....................
2,709,324
57,085,457‌
Deluxe
Corp.
........................
1,106,681
17,607,295‌
Driven
Brands
Holdings,
Inc.
(a)
(b)
...........
1,499,022
26,322,826‌
Ennis,
Inc.
.........................
601,274
10,907,110‌
Enviri
Corp.
(a)
(b)
......................
1,916,717
16,637,104‌
GEO
Group,
Inc.
(The)
(a)
................
3,419,275
81,891,636‌
Healthcare
Services
Group,
Inc.
(a)
..........
1,822,102
27,386,193‌
HNI
Corp.
..........................
1,169,171
57,499,830‌
Interface,
Inc.
.......................
1,457,722
30,510,121‌
LanzaTech
Global,
Inc.
(a)
(b)
...............
601,768
163,199‌
Liquidity
Services,
Inc.
(a)
................
578,587
13,648,867‌
MillerKnoll,
Inc.
......................
1,706,452
33,139,298‌
Mobile
Infrastructure
Corp.
(a)
.............
136,552
618,581‌
Montrose
Environmental
Group,
Inc.
(a)
(b)
......
809,821
17,726,982‌
NL
Industries,
Inc.
....................
200,885
1,285,664‌
OPENLANE,
Inc.
(a)
(b)
...................
2,673,605
65,369,642‌
Perma-Fix
Environmental
Services,
Inc.
(a)
(b)
...
429,140
4,514,553‌
Pitney
Bowes,
Inc.
....................
2,824,683
30,817,292‌
Quad/Graphics,
Inc.
,
Class
A
.............
773,541
4,370,507‌
Quest
Resource
Holding
Corp.
(a)
...........
27,526
55,603‌
Steelcase,
Inc.
,
Class
A
................
2,181,334
22,751,314‌
UniFirst
Corp.
.......................
376,967
70,952,729‌
Vestis
Corp.
........................
2,844,059
16,296,458‌
Virco
Mfg.
Corp.
.....................
274,488
2,190,414‌
VSE
Corp.
(b)
........................
506,641
66,359,838‌
1,169,439,213‌
Communications
Equipment
—
0.8%
(a)
ADTRAN
Holdings,
Inc.
................
1,897,804
17,023,302‌
Applied
Optoelectronics,
Inc.
(b)
............
1,343,181
34,506,320‌
Aviat
Networks,
Inc.
(b)
..................
291,628
7,013,653‌
BK
Technologies
Corp.
(b)
................
63,760
3,005,009‌
Calix,
Inc.
..........................
1,480,210
78,732,370‌
Clearfield,
Inc.
(b)
......................
299,984
13,022,305‌
CommScope
Holding
Co.,
Inc.
............
5,347,067
44,273,715‌
Digi
International,
Inc.
(b)
.................
913,917
31,859,147‌
Extreme
Networks,
Inc.
.................
3,303,547
59,298,669‌
Harmonic,
Inc.
.......................
2,814,241
26,650,862‌
Security
Shares
Shares
Value
Communications
Equipment
(continued)
Inseego
Corp.
(b)
......................
271,214
$
2,234,803‌
NETGEAR,
Inc.
......................
708,157
20,586,124‌
NetScout
Systems,
Inc.
.................
1,768,102
43,866,611‌
Ribbon
Communications,
Inc.
(b)
...........
2,354,945
9,443,329‌
Viasat,
Inc.
(b)
........................
2,837,713
41,430,610‌
Viavi
Solutions,
Inc.
(b)
..................
5,534,368
55,731,086‌
488,677,915‌
Construction
&
Engineering
—
2.2%
Ameresco,
Inc.
,
Class
A
(a)
(b)
..............
802,786
12,194,319‌
Arcosa,
Inc.
(b)
.......................
1,212,081
105,099,544‌
Argan,
Inc.
.........................
331,368
73,060,017‌
Bowman
Consulting
Group
Ltd.
(a)
(b)
.........
346,836
9,971,535‌
Centuri
Holdings,
Inc.
(a)
.................
416,192
9,339,348‌
Concrete
Pumping
Holdings,
Inc.
..........
564,081
3,469,098‌
Construction
Partners,
Inc.
,
Class
A
(a)
(b)
......
1,173,718
124,742,749‌
Dycom
Industries,
Inc.
(a)
................
700,963
171,308,348‌
Fluor
Corp.
(a)
(b)
.......................
4,182,480
214,435,750‌
Granite
Construction,
Inc.
...............
1,098,253
102,697,638‌
Great
Lakes
Dredge
&
Dock
Corp.
(a)
........
1,667,524
20,327,118‌
IES
Holdings,
Inc.
(a)
(b)
..................
225,823
66,895,547‌
Limbach
Holdings,
Inc.
(a)
(b)
...............
266,912
37,394,371‌
Matrix
Service
Co.
(a)
(b)
..................
663,279
8,960,899‌
MYR
Group,
Inc.
(a)
....................
386,333
70,100,123‌
NWPX
Infrastructure,
Inc.
(a)
..............
243,721
9,994,998‌
Orion
Group
Holdings,
Inc.
(a)
(b)
............
949,105
8,608,382‌
Primoris
Services
Corp.
................
1,356,539
105,728,650‌
Southland
Holdings,
Inc.
(a)
(b)
..............
196,662
822,047‌
Sterling
Infrastructure,
Inc.
(a)
(b)
............
745,264
171,954,763‌
Tutor
Perini
Corp.
(a)
...................
1,113,978
52,111,891‌
1,379,217,135‌
Construction
Materials
—
0.2%
Knife
River
Corp.
(a)
(b)
...................
1,433,251
117,010,611‌
Smith-Midland
Corp.
(a)
(b)
................
89,498
3,003,553‌
Titan
America
SA
(a)
(b)
...................
493,202
6,155,161‌
United
States
Lime
&
Minerals,
Inc.
.........
270,826
27,028,435‌
153,197,760‌
Consumer
Finance
—
1.1%
Atlanticus
Holdings
Corp.
(a)
(b)
.............
143,267
7,843,868‌
Bread
Financial
Holdings,
Inc.
............
610,841
34,891,238‌
Consumer
Portfolio
Services,
Inc.
(a)
(b)
........
226,714
2,228,599‌
Dave,
Inc.
,
Class
A
(a)
(b)
.................
232,399
62,378,215‌
Encore
Capital
Group,
Inc.
(a)
(b)
............
583,776
22,597,969‌
Enova
International,
Inc.
(a)
...............
622,800
69,454,656‌
FirstCash
Holdings,
Inc.
................
991,808
134,032,933‌
Green
Dot
Corp.
,
Class
A
(a)
..............
1,368,651
14,754,058‌
LendingClub
Corp.
(a)
(b)
..................
2,868,298
34,505,625‌
LendingTree,
Inc.
(a)
(b)
..................
281,253
10,426,049‌
Medallion
Financial
Corp.
...............
496,461
4,731,273‌
Navient
Corp.
.......................
1,886,554
26,600,411‌
Nelnet,
Inc.
,
Class
A
...................
356,214
43,144,640‌
NerdWallet,
Inc.
,
Class
A
(a)
(b)
.............
1,047,879
11,495,233‌
Oportun
Financial
Corp.
(a)
(b)
..............
803,957
5,756,332‌
OppFi,
Inc.
,
Class
A
...................
613,040
8,576,429‌
PRA
Group,
Inc.
(a)
....................
995,749
14,687,298‌
PROG
Holdings,
Inc.
..................
1,017,296
29,857,638‌
Regional
Management
Corp.
.............
237,222
6,929,255‌
Upstart
Holdings,
Inc.
(a)
(b)
................
2,104,444
136,115,438‌
Vroom,
Inc.
(a)
(b)
.......................
18,589
529,972‌
World
Acceptance
Corp.
(a)
(b)
..............
87,302
14,415,306‌
695,952,435‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
7
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Consumer
Staples
Distribution
&
Retail
—
0.5%
Andersons,
Inc.
(The)
..................
826,278
$
30,365,717‌
Chefs'
Warehouse,
Inc.
(The)
(a)
(b)
..........
913,202
58,271,420‌
Grocery
Outlet
Holding
Corp.
(a)
............
2,346,996
29,149,690‌
Guardian
Pharmacy
Services,
Inc.
,
Class
A
(a)
(b)
.
309,862
6,603,159‌
HF
Foods
Group,
Inc.
(a)
(b)
................
962,230
3,059,891‌
Ingles
Markets,
Inc.
,
Class
A
.............
357,913
22,684,526‌
Natural
Grocers
by
Vitamin
Cottage,
Inc.
.....
322,181
12,645,604‌
PriceSmart,
Inc.
......................
638,443
67,062,053‌
SpartanNash
Co.
.....................
838,456
22,210,699‌
Sprouts
Farmers
Market,
Inc.
(a)
............
35,345
5,819,201‌
United
Natural
Foods,
Inc.
(a)
(b)
............
1,504,808
35,077,075‌
Village
Super
Market,
Inc.
,
Class
A
.........
225,235
8,671,548‌
Weis
Markets,
Inc.
....................
409,056
29,652,469‌
331,273,052‌
Containers
&
Packaging
—
0.3%
Ardagh
Metal
Packaging
SA
.............
3,535,047
15,130,001‌
Greif,
Inc.
,
Class
A,
NVS
................
631,231
41,023,703‌
Greif,
Inc.
,
Class
B
....................
119,610
8,254,286‌
Myers
Industries,
Inc.
..................
925,791
13,414,712‌
O-I
Glass,
Inc.
(a)
(b)
.....................
3,856,800
56,849,232‌
Ranpak
Holdings
Corp.
,
Class
A
(a)
.........
1,168,534
4,171,666‌
TriMas
Corp.
........................
839,916
24,029,997‌
162,873,597‌
Distributors
—
0.0%
A-Mark
Precious
Metals,
Inc.
.............
477,522
10,591,438‌
GigaCloud
Technology,
Inc.
,
Class
A
(a)
(b)
......
660,644
13,067,538‌
Weyco
Group,
Inc.
....................
140,893
4,672,012‌
28,330,988‌
Diversified
Consumer
Services
—
1.4%
Adtalem
Global
Education,
Inc.
(a)
..........
922,898
117,420,313‌
American
Public
Education,
Inc.
(a)
..........
437,366
13,322,168‌
Carriage
Services,
Inc.
.................
344,198
15,743,617‌
Chegg,
Inc.
(a)
........................
183,681
222,254‌
Coursera,
Inc.
(a)
......................
3,450,326
30,224,856‌
European
Wax
Center,
Inc.
,
Class
A
(a)
(b)
......
760,729
4,282,904‌
Frontdoor,
Inc.
(a)
......................
1,858,309
109,528,732‌
Graham
Holdings
Co.
,
Class
B
............
80,683
76,339,834‌
KinderCare
Learning
Cos.,
Inc.
(a)
(b)
.........
777,522
7,852,972‌
Laureate
Education,
Inc.
(a)
...............
3,240,917
75,772,639‌
Lincoln
Educational
Services
Corp.
(a)
(b)
.......
737,524
16,999,928‌
Matthews
International
Corp.
,
Class
A
.......
741,672
17,733,378‌
Mister
Car
Wash,
Inc.
(a)
(b)
................
2,461,288
14,792,341‌
Nerdy,
Inc.
,
Class
A
(a)
(b)
.................
1,574,073
2,565,739‌
OneSpaWorld
Holdings
Ltd.
..............
2,423,448
49,414,105‌
Perdoceo
Education
Corp.
...............
1,551,714
50,725,531‌
Strategic
Education,
Inc.
................
598,030
50,910,294‌
Stride,
Inc.
(a)
(b)
.......................
1,067,591
155,003,537‌
Udemy,
Inc.
(a)
(b)
......................
2,426,340
17,057,170‌
Universal
Technical
Institute,
Inc.
(a)
(b)
........
1,131,600
38,349,924‌
Zspace,
Inc.
(a)
(b)
......................
62,304
203,111‌
864,465,347‌
Diversified
REITs
—
0.6%
Alexander
&
Baldwin,
Inc.
...............
1,864,982
33,252,629‌
Alpine
Income
Property
Trust,
Inc.
.........
306,997
4,515,926‌
American
Assets
Trust,
Inc.
..............
1,330,881
26,284,900‌
Armada
Hoffler
Properties,
Inc.
...........
2,030,752
13,951,266‌
Broadstone
Net
Lease,
Inc.
..............
4,814,964
77,280,172‌
CTO
Realty
Growth,
Inc.
................
764,896
13,202,105‌
Essential
Properties
Realty
Trust,
Inc.
.......
4,971,614
158,644,203‌
Gladstone
Commercial
Corp.
.............
1,157,609
16,588,537‌
Global
Net
Lease,
Inc.
.................
5,003,309
37,774,983‌
Modiv
Industrial,
Inc.
,
Class
C
............
149,872
2,110,198‌
Security
Shares
Shares
Value
Diversified
REITs
(continued)
NexPoint
Diversified
Real
Estate
Trust
......
910,822
$
3,816,344‌
One
Liberty
Properties,
Inc.
..............
452,788
10,803,521‌
398,224,784‌
Diversified
Telecommunication
Services
—
0.5%
Anterix,
Inc.
(a)
(b)
......................
315,679
8,097,166‌
AST
SpaceMobile,
Inc.
,
Class
A
(a)
..........
241,033
11,263,472‌
ATN
International,
Inc.
.................
248,312
4,035,070‌
Bandwidth,
Inc.
,
Class
A
(a)
(b)
..............
677,930
10,779,087‌
Cogent
Communications
Holdings,
Inc.
......
1,118,715
53,933,250‌
Globalstar,
Inc.
(a)
(b)
....................
1,251,494
29,472,684‌
IDT
Corp.
,
Class
B
....................
407,153
27,816,693‌
Liberty
Latin
America
Ltd.
,
Class
A
(a)
(b)
.......
760,973
4,641,935‌
Liberty
Latin
America
Ltd.
,
Class
C,
NVS
(a)
(b)
...
3,108,941
19,337,613‌
Lumen
Technologies,
Inc.
(a)
(b)
.............
23,866,292
104,534,359‌
Shenandoah
Telecommunications
Co.
.......
1,253,646
17,124,805‌
291,036,134‌
Electric
Utilities
—
1.1%
ALLETE,
Inc.
.......................
1,472,091
94,316,870‌
Genie
Energy
Ltd.
,
Class
B
..............
522,386
14,041,736‌
Hawaiian
Electric
Industries,
Inc.
(a)
.........
4,356,188
46,306,278‌
MGE
Energy,
Inc.
.....................
920,136
81,376,828‌
Oklo,
Inc.
(a)
(b)
........................
2,564,223
143,570,846‌
Otter
Tail
Corp.
......................
971,013
74,855,392‌
Portland
General
Electric
Co.
.............
2,747,636
111,636,451‌
TXNM
Energy,
Inc.
....................
2,325,534
130,974,075‌
697,078,476‌
Electrical
Equipment
—
1.6%
Allient,
Inc.
.........................
358,824
13,028,899‌
American
Superconductor
Corp.
(a)
(b)
........
953,030
34,966,671‌
Amprius
Technologies,
Inc.
(a)
(b)
............
2,292,373
9,650,890‌
Array
Technologies,
Inc.
(a)
(b)
..............
3,782,199
22,314,974‌
Atkore,
Inc.
.........................
862,288
60,834,418‌
Blink
Charging
Co.
(a)
(b)
..................
291,762
274,227‌
Bloom
Energy
Corp.
,
Class
A
(a)
(b)
..........
5,113,754
122,320,996‌
Complete
Solaria,
Inc.
(a)
................
1,284,340
2,363,186‌
Energy
Vault
Holdings,
Inc.
(a)
.............
146,492
105,006‌
EnerSys
...........................
979,749
84,033,072‌
Enovix
Corp.
(a)
(b)
......................
4,110,813
42,505,806‌
Eos
Energy
Enterprises,
Inc.
,
Class
A
(a)
(b)
.....
5,543,491
28,382,674‌
Fluence
Energy,
Inc.
,
Class
A
(a)
(b)
..........
1,885,442
12,651,316‌
FuelCell
Energy,
Inc.
(a)
(b)
................
7,436
41,716‌
GrafTech
International
Ltd.
(a)
.............
549,874
534,808‌
Hyliion
Holdings
Corp.
,
Class
A
(a)
(b)
.........
3,275,223
4,323,294‌
KULR
Technology
Group,
Inc.
(a)
(b)
..........
823,903
5,874,428‌
LSI
Industries,
Inc.
....................
683,293
11,622,814‌
NANO
Nuclear
Energy,
Inc.
(a)
(b)
............
669,021
23,074,534‌
Net
Power,
Inc.
,
Class
A
(a)
(b)
..............
793,006
1,958,725‌
NEXTracker,
Inc.
,
Class
A
(a)
..............
3,543,245
192,646,231‌
NuScale
Power
Corp.
,
Class
A
(a)
(b)
..........
3,049,104
120,622,554‌
Plug
Power,
Inc.
(a)
(b)
...................
22,757,866
33,909,220‌
Powell
Industries,
Inc.
(b)
................
238,497
50,191,694‌
Power
Solutions
International,
Inc.
(a)
........
162,751
10,526,735‌
Preformed
Line
Products
Co.
(b)
............
59,482
9,505,818‌
Shoals
Technologies
Group,
Inc.
,
Class
A
(a)
(b)
..
4,198,207
17,842,380‌
SKYX
Platforms
Corp.
(a)
................
1,147,686
1,199,332‌
SolarMax
Technology,
Inc.
(a)
..............
49,311
53,749‌
Stem,
Inc.
(a)
(b)
.......................
27,123
168,976‌
Sunrun,
Inc.
(a)
(b)
......................
5,241,641
42,876,623‌
T1
Energy,
Inc.
(a)
(b)
....................
2,690,073
3,308,790‌
Thermon
Group
Holdings,
Inc.
(a)
...........
829,896
23,303,480‌
TPI
Composites,
Inc.
(a)
.................
103,972
89,343‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
8
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Electrical
Equipment
(continued)
Vicor
Corp.
(a)
(b)
.......................
581,967
$
26,398,023‌
1,013,505,402‌
Electronic
Equipment,
Instruments
&
Components
—
3.5%
908
Devices,
Inc.
(a)
(b)
...................
680,781
4,853,969‌
Advanced
Energy
Industries,
Inc.
(b)
.........
940,664
124,637,980‌
Aeva
Technologies,
Inc.
(a)
(b)
..............
760,522
28,740,126‌
Arlo
Technologies,
Inc.
(a)
(b)
...............
2,485,286
42,150,451‌
Badger
Meter,
Inc.
....................
740,069
181,279,902‌
Bel
Fuse,
Inc.
,
Class
A
(b)
................
35,255
3,167,662‌
Bel
Fuse,
Inc.
,
Class
B,
NVS
(b)
............
264,161
25,805,888‌
Belden,
Inc.
(b)
.......................
999,942
115,793,284‌
Benchmark
Electronics,
Inc.
.............
897,126
34,835,403‌
Climb
Global
Solutions,
Inc.
..............
103,135
11,026,163‌
CTS
Corp.
.........................
737,242
31,413,882‌
Daktronics,
Inc.
(a)
(b)
....................
1,044,610
15,794,503‌
ePlus,
Inc.
(a)
........................
664,783
47,930,854‌
Evolv
Technologies
Holdings,
Inc.
(a)
.........
2,928,823
18,275,856‌
Fabrinet
(a)
..........................
901,913
265,775,723‌
FARO
Technologies,
Inc.
(a)
(b)
.............
477,523
20,972,810‌
Frequency
Electronics,
Inc.
..............
154,026
3,497,930‌
Insight
Enterprises,
Inc.
(a)
(b)
..............
695,785
96,077,472‌
Itron,
Inc.
(a)
(b)
........................
1,134,553
149,341,211‌
Kimball
Electronics,
Inc.
(a)
...............
605,557
11,644,861‌
Knowles
Corp.
(a)
(b)
....................
2,165,316
38,152,868‌
Lightwave
Logic,
Inc.
(a)
(b)
................
285,163
353,602‌
Methode
Electronics,
Inc.
...............
860,152
8,180,046‌
MicroVision,
Inc.
(a)
(b)
...................
6,105,474
6,960,240‌
Mirion
Technologies,
Inc.
,
Class
A
(a)
(b)
.......
5,263,442
113,321,906‌
Motomova,
Inc.
(a)
(d)
....................
26,106
—‌
M-Tron
Industries,
Inc.
(a)
(b)
...............
52,862
2,220,204‌
Napco
Security
Technologies,
Inc.
.........
878,650
26,087,118‌
Neonode,
Inc.
(a)
(b)
.....................
189,058
4,820,979‌
nLight,
Inc.
(a)
(b)
.......................
1,202,385
23,662,937‌
Novanta,
Inc.
(a)
(b)
.....................
898,038
115,784,039‌
OSI
Systems,
Inc.
(a)
(b)
..................
401,180
90,209,335‌
Ouster,
Inc.
,
Class
A
(a)
(b)
................
1,269,319
30,780,986‌
PAR
Technology
Corp.
(a)
(b)
...............
1,001,999
69,508,671‌
PC
Connection,
Inc.
...................
296,865
19,527,780‌
Plexus
Corp.
(a)
.......................
673,601
91,144,951‌
Powerfleet,
Inc.
(a)
(b)
....................
3,122,385
13,457,479‌
Red
Cat
Holdings,
Inc.
(a)
................
1,880,449
13,689,669‌
Richardson
Electronics
Ltd.
..............
300,137
2,896,322‌
Rogers
Corp.
(a)
......................
471,377
32,279,897‌
Sanmina
Corp.
(a)
(b)
....................
1,313,604
128,509,879‌
ScanSource,
Inc.
(a)
....................
567,878
23,742,979‌
SmartRent,
Inc.
,
Class
A
(a)
...............
175,450
173,695‌
TTM
Technologies,
Inc.
(a)
................
2,517,705
102,772,718‌
Vishay
Intertechnology,
Inc.
..............
3,043,183
48,325,746‌
Vishay
Precision
Group,
Inc.
(a)
(b)
...........
302,462
8,499,182‌
Vuzix
Corp.
(a)
........................
1,561,557
4,559,746‌
2,252,638,904‌
Energy
Equipment
&
Services
—
1.8%
Archrock,
Inc.
.......................
4,129,615
102,538,340‌
Aris
Water
Solutions,
Inc.
,
Class
A
.........
774,076
18,306,897‌
Atlas
Energy
Solutions,
Inc.
..............
1,931,415
25,823,019‌
Borr
Drilling
Ltd.
(b)
....................
5,646,954
10,333,926‌
Bristow
Group,
Inc.
(a)
..................
708,686
23,365,377‌
Cactus,
Inc.
,
Class
A
..................
1,704,796
74,533,681‌
ChampionX
Corp.
....................
4,787,805
118,929,076‌
Core
Laboratories,
Inc.
(b)
................
1,186,208
13,665,116‌
DMC
Global,
Inc.
(a)
....................
491,473
3,961,272‌
Energy
Services
of
America
Corp.
.........
251,840
2,503,290‌
Expro
Group
Holdings
NV
(a)
(b)
.............
2,563,339
22,019,082‌
Security
Shares
Shares
Value
Energy
Equipment
&
Services
(continued)
Flowco
Holdings,
Inc.
,
Class
A
(b)
...........
463,280
$
8,251,017‌
Forum
Energy
Technologies,
Inc.
(a)
.........
263,739
5,134,998‌
Geospace
Technologies
Corp.
(a)
(b)
..........
62,562
892,134‌
Helix
Energy
Solutions
Group,
Inc.
(a)
........
3,608,754
22,518,625‌
Helmerich
&
Payne,
Inc.
................
2,426,179
36,780,874‌
Innovex
International,
Inc.
(a)
(b)
.............
954,840
14,914,601‌
Kodiak
Gas
Services,
Inc.
...............
1,342,544
46,008,983‌
Liberty
Energy,
Inc.
,
Class
A
.............
3,959,288
45,452,626‌
Mammoth
Energy
Services,
Inc.
(a)
..........
525,590
1,471,652‌
Nabors
Industries
Ltd.
(a)
(b)
...............
346,845
9,718,597‌
National
Energy
Services
Reunited
Corp.
(a)
...
1,256,261
7,562,691‌
Natural
Gas
Services
Group,
Inc.
(a)
(b)
........
250,801
6,473,174‌
Noble
Corp.
plc
......................
3,158,875
83,868,131‌
Oceaneering
International,
Inc.
(a)
(b)
.........
2,409,789
49,930,828‌
Oil
States
International,
Inc.
(a)
.............
1,484,714
7,958,067‌
Patterson-UTI
Energy,
Inc.
..............
8,918,529
52,886,877‌
ProFrac
Holding
Corp.
,
Class
A
(a)
(b)
.........
324,050
2,514,628‌
ProPetro
Holding
Corp.
(a)
(b)
..............
2,036,041
12,155,165‌
Ranger
Energy
Services,
Inc.
,
Class
A
.......
418,017
4,991,123‌
RPC,
Inc.
..........................
2,212,490
10,465,078‌
SEACOR
Marine
Holdings,
Inc.
(a)
(b)
.........
579,056
2,953,186‌
Seadrill
Ltd.
(a)
(b)
......................
1,586,688
41,650,560‌
Select
Water
Solutions,
Inc.
,
Class
A
........
2,329,651
20,128,185‌
Solaris
Energy
Infrastructure,
Inc.
,
Class
A
(b)
...
910,802
25,766,589‌
TETRA
Technologies,
Inc.
(a)
(b)
.............
3,171,141
10,655,034‌
Tidewater,
Inc.
(a)
(b)
....................
1,260,849
58,162,964‌
Transocean
Ltd.
(a)
(b)
...................
18,573,176
48,104,526‌
Valaris
Ltd.
(a)
(b)
.......................
1,591,811
67,031,161‌
1,120,381,150‌
Entertainment
—
0.5%
AMC
Entertainment
Holdings,
Inc.
,
Class
A
(a)
(b)
.
10,880,049
33,728,152‌
Atlanta
Braves
Holdings,
Inc.
,
Class
A
(a)
(b)
.....
223,739
11,010,196‌
Atlanta
Braves
Holdings,
Inc.
,
Class
C,
NVS
(a)
(b)
1,104,459
51,655,548‌
Cinemark
Holdings,
Inc.
................
2,670,716
80,602,209‌
CuriosityStream,
Inc.
,
Class
A
............
789,746
4,446,270‌
Eventbrite,
Inc.
,
Class
A
(a)
(b)
..............
1,959,257
5,152,846‌
Gaia,
Inc.
,
Class
A
(a)
(b)
..................
260,444
1,143,349‌
Golden
Matrix
Group,
Inc.
(a)
(b)
.............
399,911
679,849‌
IMAX
Corp.
(a)
(b)
......................
1,086,538
30,379,602‌
Lionsgate
Studios
Corp.
(a)
...............
4,777,811
27,759,082‌
LiveOne,
Inc.
(a)
......................
130,616
98,602‌
Madison
Square
Garden
Entertainment
Corp.
(a)
.
986,362
39,424,889‌
Marcus
Corp.
(The)
...................
608,425
10,258,045‌
Playstudios,
Inc.
,
Class
A
(a)
..............
2,128,474
2,788,301‌
Playtika
Holding
Corp.
.................
1,384,156
6,547,058‌
Reservoir
Media,
Inc.
(a)
(b)
................
489,455
3,754,120‌
Sphere
Entertainment
Co.
,
Class
A
(a)
(b)
.......
697,068
29,137,442‌
Starz
Entertainment
Corp.
...............
320,027
5,142,834‌
Vivid
Seats,
Inc.
,
Class
A
(a)
(b)
.............
1,758,454
2,971,787‌
346,680,181‌
Financial
Services
—
2.6%
Acacia
Research
Corp.
(a)
(b)
...............
798,479
2,858,555‌
Alerus
Financial
Corp.
.................
573,882
12,418,807‌
AvidXchange
Holdings,
Inc.
(a)
.............
4,311,044
42,205,121‌
Banco
Latinoamericano
de
Comercio
Exterior
SA
,
Class
E
......................
738,897
29,777,549‌
Better
Home
&
Finance
Holding
Co.
(a)
.......
103,738
1,285,314‌
Burford
Capital
Ltd.
...................
4,832,909
68,917,282‌
Cannae
Holdings,
Inc.
.................
1,448,120
30,193,302‌
Cantaloupe,
Inc.
(a)
....................
1,347,068
14,804,277‌
Cass
Information
Systems,
Inc.
...........
347,606
15,103,481‌
Compass
Diversified
Holdings
............
1,686,483
10,591,113‌
Enact
Holdings,
Inc.
...................
751,532
27,919,414‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
9
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Financial
Services
(continued)
Essent
Group
Ltd.
....................
2,489,941
$
151,214,117‌
EVERTEC,
Inc.
......................
1,617,182
58,299,411‌
Federal
Agricultural
Mortgage
Corp.
,
Class
C,
NVS
...........................
237,457
46,133,146‌
Finance
of
America
Cos.,
Inc.
,
Class
A
(a)
(b)
....
109,882
2,562,448‌
Flywire
Corp.
(a)
......................
2,948,566
34,498,222‌
Hannon
Armstrong
Sustainable
Infrastructure
Capital,
Inc.
......................
3,063,554
82,287,060‌
International
Money
Express,
Inc.
(a)
(b)
........
739,232
7,458,851‌
Jackson
Financial,
Inc.
,
Class
A
...........
1,681,769
149,324,270‌
loanDepot,
Inc.
,
Class
A
(a)
(b)
..............
1,752,007
2,225,049‌
Marqeta,
Inc.
,
Class
A
(a)
(b)
...............
9,673,726
56,397,823‌
Merchants
Bancorp
...................
636,113
21,036,257‌
Mr
Cooper
Group,
Inc.
(a)
................
67,228
10,031,090‌
NCR
Atleos
Corp.
(a)
(b)
..................
1,839,037
52,467,726‌
NewtekOne,
Inc.
.....................
662,480
7,472,774‌
NMI
Holdings,
Inc.
,
Class
A
(a)
.............
1,965,144
82,909,425‌
Onity
Group,
Inc.
(a)
(b)
...................
168,837
6,444,508‌
Pagseguro
Digital
Ltd.
,
Class
A
...........
4,464,293
43,035,785‌
Payoneer
Global,
Inc.
(a)
.................
7,000,960
47,956,576‌
Paysafe
Ltd.
(a)
(b)
......................
825,032
10,411,904‌
Paysign,
Inc.
(a)
(b)
......................
876,475
6,310,620‌
PennyMac
Financial
Services,
Inc.
.........
730,457
72,782,735‌
Priority
Technology
Holdings,
Inc.
(a)
(b)
........
643,523
5,006,609‌
Radian
Group,
Inc.
....................
3,556,794
128,115,720‌
Remitly
Global,
Inc.
(a)
(b)
.................
3,897,324
73,152,771‌
Repay
Holdings
Corp.
,
Class
A
(a)
(b)
.........
2,006,581
9,671,720‌
Security
National
Financial
Corp.
,
Class
A
(a)
(b)
..
219,082
2,157,958‌
Sezzle,
Inc.
(a)
(b)
......................
370,010
66,324,293‌
StoneCo
Ltd.
,
Class
A
(a)
(b)
...............
6,077,122
97,477,037‌
SWK
Holdings
Corp.
..................
57,315
844,823‌
Triller
Group,
Inc.
(a)
(b)
...................
1,343,956
1,250,551‌
Velocity
Financial,
Inc.
(a)
................
280,287
5,196,521‌
Walker
&
Dunlop,
Inc.
..................
821,501
57,899,390‌
Waterstone
Financial,
Inc.
...............
440,867
6,088,373‌
1,660,519,778‌
Food
Products
—
0.9%
Alico,
Inc.
(b)
.........................
148,368
4,848,666‌
B&G
Foods,
Inc.
.....................
1,905,912
8,062,008‌
Beyond
Meat,
Inc.
(a)
(b)
..................
1,827,583
6,378,265‌
BRC,
Inc.
,
Class
A
(a)
(b)
..................
1,505,657
1,972,411‌
Calavo
Growers,
Inc.
..................
418,150
11,118,608‌
Cal-Maine
Foods,
Inc.
..................
1,148,942
114,469,091‌
Dole
plc
...........................
1,747,021
24,440,824‌
Forafric
Global
plc
(a)
(b)
..................
47,831
373,082‌
Fresh
Del
Monte
Produce,
Inc.
............
850,157
27,562,090‌
Hain
Celestial
Group,
Inc.
(The)
(a)
..........
2,259,273
3,434,095‌
J
&
J
Snack
Foods
Corp.
................
383,734
43,519,273‌
John
B
Sanfilippo
&
Son,
Inc.
.............
193,777
12,254,457‌
Lancaster
Colony
Corp.
................
499,411
86,283,238‌
Lifeway
Foods,
Inc.
(a)
..................
128,475
3,166,909‌
Limoneira
Co.
.......................
419,434
6,564,142‌
Mama's
Creations,
Inc.
(a)
................
836,739
6,944,934‌
Mission
Produce,
Inc.
(a)
(b)
................
1,195,911
14,016,077‌
Seneca
Foods
Corp.
,
Class
A
(a)
...........
120,132
12,184,989‌
Simply
Good
Foods
Co.
(The)
(a)
...........
2,336,554
73,811,741‌
SunOpta,
Inc.
(a)
(b)
.....................
2,411,214
13,985,041‌
Tootsie
Roll
Industries,
Inc.
..............
350,344
11,719,007‌
TreeHouse
Foods,
Inc.
(a)
(b)
...............
1,259,009
24,449,955‌
Utz
Brands,
Inc.
,
Class
A
................
1,781,415
22,356,758‌
Vital
Farms,
Inc.
(a)
(b)
...................
861,015
33,166,298‌
Westrock
Coffee
Co.
(a)
(b)
................
891,107
5,106,043‌
Security
Shares
Shares
Value
Food
Products
(continued)
WK
Kellogg
Co.
......................
1,566,340
$
24,967,459‌
597,155,461‌
Gas
Utilities
—
1.1%
Brookfield
Infrastructure
Corp.
,
Class
A
(b)
.....
3,012,050
125,301,280‌
Chesapeake
Utilities
Corp.
..............
567,604
68,237,353‌
New
Jersey
Resources
Corp.
.............
2,528,130
113,310,787‌
Northwest
Natural
Holding
Co.
............
1,007,849
40,031,762‌
ONE
Gas,
Inc.
.......................
1,500,626
107,834,984‌
RGC
Resources,
Inc.
..................
180,133
4,031,376‌
Southwest
Gas
Holdings,
Inc.
............
1,614,905
120,132,783‌
Spire,
Inc.
..........................
1,447,135
105,626,384‌
684,506,709‌
Ground
Transportation
—
0.4%
ArcBest
Corp.
.......................
580,350
44,692,753‌
Covenant
Logistics
Group,
Inc.
,
Class
A
......
418,873
10,099,028‌
FTAI
Infrastructure,
Inc.
.................
2,433,523
15,014,837‌
Heartland
Express,
Inc.
.................
1,202,644
10,390,844‌
Hertz
Global
Holdings,
Inc.
(a)
(b)
............
2,967,223
20,266,133‌
Marten
Transport
Ltd.
..................
1,395,095
18,122,284‌
PAMT
Corp.
(a)
(b)
......................
156,732
2,017,141‌
Proficient
Auto
Logistics,
Inc.
(a)
(b)
...........
566,504
4,112,819‌
RXO,
Inc.
(a)
(b)
........................
4,057,112
63,777,801‌
Universal
Logistics
Holdings,
Inc.
(b)
.........
163,207
4,142,194‌
Werner
Enterprises,
Inc.
................
1,486,450
40,669,272‌
233,305,106‌
Health
Care
Equipment
&
Supplies
—
2.9%
Accuray,
Inc.
(a)
(b)
......................
2,541,282
3,481,556‌
Alphatec
Holdings,
Inc.
(a)
(b)
...............
2,902,640
32,219,304‌
AngioDynamics,
Inc.
(a)
(b)
................
983,115
9,752,501‌
Anteris
Technologies
Global
Corp.
(a)
(b)
.......
431,919
1,636,973‌
Artivion,
Inc.
(a)
.......................
963,573
29,967,120‌
AtriCure,
Inc.
(a)
(b)
.....................
1,211,942
39,715,339‌
Avanos
Medical,
Inc.
(a)
.................
1,134,135
13,881,812‌
AxoGen,
Inc.
(a)
.......................
1,106,308
12,003,442‌
Beta
Bionics,
Inc.
(a)
(b)
..................
326,381
4,752,107‌
Bioventus,
Inc.
,
Class
A
(a)
(b)
..............
1,148,842
7,605,334‌
Butterfly
Network,
Inc.
,
Class
A
(a)
(b)
.........
4,745,038
9,490,076‌
Ceribell,
Inc.
(a)
(b)
......................
602,137
11,278,026‌
Cerus
Corp.
(a)
.......................
4,605,530
6,493,797‌
ClearPoint
Neuro,
Inc.
(a)
................
599,052
7,152,681‌
CONMED
Corp.
......................
779,110
40,576,049‌
CVRx,
Inc.
(a)
(b)
.......................
397,000
2,334,360‌
Delcath
Systems,
Inc.
(a)
.................
712,825
9,694,420‌
Electromed,
Inc.
(a)
(b)
...................
141,535
3,112,355‌
Embecta
Corp.
......................
1,465,737
14,202,991‌
Enovis
Corp.
(a)
(b)
......................
1,396,598
43,797,313‌
Fractyl
Health,
Inc.
(a)
...................
67,636
109,570‌
Glaukos
Corp.
(a)
(b)
.....................
1,397,102
144,306,666‌
Haemonetics
Corp.
(a)
(b)
.................
1,257,895
93,851,546‌
ICU
Medical,
Inc.
(a)
(b)
...................
602,791
79,658,831‌
Inmode
Ltd.
(a)
.......................
85,574
1,235,689‌
Inogen,
Inc.
(a)
(b)
......................
592,422
4,164,727‌
Integer
Holdings
Corp.
(a)
(b)
...............
861,651
105,957,223‌
Integra
LifeSciences
Holdings
Corp.
(a)
.......
1,676,249
20,567,575‌
iRadimed
Corp.
......................
192,702
11,521,653‌
iRhythm
Technologies,
Inc.
(a)
(b)
............
796,779
122,672,095‌
Kestra
Medical
Technologies
Ltd.
(a)
(b)
........
296,641
4,918,308‌
KORU
Medical
Systems,
Inc.
(a)
............
711,007
2,545,405‌
Lantheus
Holdings,
Inc.
(a)
(b)
..............
1,684,754
137,913,962‌
LeMaitre
Vascular,
Inc.
.................
517,406
42,970,568‌
LENSAR,
Inc.
(a)
(b)
.....................
212,753
2,801,957‌
LivaNova
plc
(a)
.......................
1,363,960
61,405,479‌
Lucid
Diagnostics,
Inc.
(a)
(b)
...............
1,569,293
1,804,687‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
10
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Health
Care
Equipment
&
Supplies
(continued)
Merit
Medical
Systems,
Inc.
(a)
(b)
............
1,462,093
$
136,676,454‌
Myomo,
Inc.
(a)
(b)
......................
762,824
1,647,700‌
Neogen
Corp.
(a)
(b)
.....................
5,465,172
26,123,522‌
Neuronetics,
Inc.
(a)
(b)
...................
890,154
3,106,637‌
NeuroPace,
Inc.
(a)
(b)
...................
562,910
6,270,817‌
Novocure
Ltd.
(a)
(b)
.....................
2,544,944
45,300,003‌
Omnicell,
Inc.
(a)
(b)
.....................
1,164,544
34,237,594‌
OraSure
Technologies,
Inc.
(a)
(b)
............
1,896,663
5,689,989‌
Orthofix
Medical,
Inc.
(a)
(b)
................
961,319
10,718,707‌
OrthoPediatrics
Corp.
(a)
(b)
................
420,530
9,032,984‌
Outset
Medical,
Inc.
(a)
(b)
.................
322,039
6,186,369‌
PROCEPT
BioRobotics
Corp.
(a)
(b)
..........
1,310,833
75,503,981‌
Pro-Dex,
Inc.
(a)
(b)
.....................
51,730
2,257,497‌
Pulmonx
Corp.
(a)
(b)
....................
928,219
2,404,087‌
Pulse
Biosciences,
Inc.
(a)
(b)
...............
454,254
6,854,693‌
QuidelOrtho
Corp.
(a)
(b)
..................
1,672,687
48,206,839‌
RxSight,
Inc.
(a)
(b)
......................
934,031
12,142,403‌
Sanara
Medtech,
Inc.
(a)
(b)
................
89,808
2,549,649‌
SANUWAVE
Health,
Inc.
(a)
...............
124,218
4,081,803‌
Semler
Scientific,
Inc.
(a)
(b)
................
210,259
8,145,434‌
SI-BONE,
Inc.
(a)
(b)
.....................
962,527
18,114,758‌
Sight
Sciences,
Inc.
(a)
(b)
.................
981,205
4,052,377‌
STAAR
Surgical
Co.
(a)
(b)
.................
1,252,820
21,022,320‌
Stereotaxis,
Inc.
(a)
(b)
...................
1,376,431
2,918,034‌
Surmodics,
Inc.
(a)
.....................
348,845
10,364,185‌
Tactile
Systems
Technology,
Inc.
(a)
(b)
........
583,541
5,917,106‌
Tandem
Diabetes
Care,
Inc.
(a)
(b)
...........
1,671,554
31,157,767‌
TransMedics
Group,
Inc.
(a)
(b)
..............
829,984
111,226,156‌
Treace
Medical
Concepts,
Inc.
(a)
...........
1,208,312
7,104,875‌
UFP
Technologies,
Inc.
(a)
(b)
...............
187,782
45,848,853‌
Utah
Medical
Products,
Inc.
..............
57,288
3,260,833‌
Varex
Imaging
Corp.
(a)
.................
1,024,998
8,886,733‌
Zimvie,
Inc.
(a)
(b)
......................
706,842
6,608,973‌
Zynex,
Inc.
(a)
........................
65,602
169,253‌
1,865,342,882‌
Health
Care
Providers
&
Services
—
3.3%
AdaptHealth
Corp.
(a)
(b)
..................
2,336,650
22,034,610‌
Addus
HomeCare
Corp.
(a)
(b)
..............
450,579
51,902,195‌
agilon
health,
Inc.
(a)
(b)
..................
7,726,058
17,769,933‌
AirSculpt
Technologies,
Inc.
(a)
(b)
...........
324,153
1,565,659‌
Alignment
Healthcare,
Inc.
(a)
(b)
............
3,185,530
44,597,420‌
AMN
Healthcare
Services,
Inc.
(a)
(b)
.........
955,368
19,747,457‌
Ardent
Health,
Inc.
(a)
(b)
..................
607,979
8,304,993‌
Astrana
Health,
Inc.
(a)
(b)
.................
1,023,505
25,464,804‌
Aveanna
Healthcare
Holdings,
Inc.
(a)
(b)
.......
1,203,258
6,293,039‌
BrightSpring
Health
Services,
Inc.
(a)
(b)
.......
2,117,828
49,959,563‌
Brookdale
Senior
Living,
Inc.
(a)
(b)
...........
5,712,187
39,756,822‌
Castle
Biosciences,
Inc.
(a)
...............
710,180
14,501,876‌
Clover
Health
Investments
Corp.
,
Class
A
(a)
(b)
..
10,038,709
28,007,998‌
Community
Health
Systems,
Inc.
(a)
(b)
........
3,268,383
11,112,502‌
Concentra
Group
Holdings
Parent,
Inc.
......
2,907,946
59,816,449‌
CorVel
Corp.
(a)
.......................
721,945
74,201,507‌
Cross
Country
Healthcare,
Inc.
(a)
..........
794,541
10,368,760‌
DocGo,
Inc.
(a)
(b)
......................
2,341,665
3,676,414‌
Enhabit,
Inc.
(a)
.......................
1,242,657
11,979,214‌
Ensign
Group,
Inc.
(The)
................
1,400,036
215,969,553‌
Fulgent
Genetics,
Inc.
(a)
(b)
...............
528,475
10,506,083‌
GeneDx
Holdings
Corp.
,
Class
A
(a)
(b)
........
469,393
43,329,668‌
Guardant
Health,
Inc.
(a)
(b)
................
2,982,015
155,184,061‌
HealthEquity,
Inc.
(a)
....................
2,131,843
223,331,873‌
Hims
&
Hers
Health,
Inc.
,
Class
A
(a)
(b)
.......
4,762,079
237,389,638‌
InfuSystem
Holdings,
Inc.
(a)
..............
32,847
204,965‌
Innovage
Holding
Corp.
(a)
(b)
..............
442,941
1,634,452‌
Joint
Corp.
(The)
(a)
(b)
...................
335,047
3,866,442‌
Security
Shares
Shares
Value
Health
Care
Providers
&
Services
(continued)
LifeStance
Health
Group,
Inc.
(a)
(b)
..........
3,353,912
$
17,339,725‌
ModivCare,
Inc.
(a)
.....................
58,094
181,253‌
Nano-X
Imaging
Ltd.
(a)
(b)
................
1,603,809
8,291,693‌
National
HealthCare
Corp.
...............
314,982
33,706,224‌
National
Research
Corp.
................
321,234
5,396,731‌
NeoGenomics,
Inc.
(a)
(b)
.................
3,234,185
23,641,892‌
Nutex
Health,
Inc.
(a)
...................
85,629
10,659,954‌
Oncology
Institute,
Inc.
(The)
(a)
............
1,437,563
2,947,004‌
OPKO
Health,
Inc.
(a)
(b)
..................
9,083,268
11,989,914‌
Option
Care
Health,
Inc.
(a)
(b)
..............
4,119,141
133,789,700‌
Owens
&
Minor,
Inc.
(a)
..................
1,897,874
17,270,653‌
PACS
Group,
Inc.
(a)
(b)
..................
1,094,955
14,146,819‌
Pediatrix
Medical
Group,
Inc.
(a)
............
2,142,237
30,741,101‌
Pennant
Group,
Inc.
(The)
(a)
..............
845,526
25,238,951‌
Performant
Healthcare,
Inc.
(a)
.............
1,748,743
6,994,972‌
Premier,
Inc.
,
Class
A
..................
2,270,145
49,784,280‌
Privia
Health
Group,
Inc.
(a)
...............
2,863,302
65,855,946‌
Progyny,
Inc.
(a)
(b)
.....................
1,713,767
37,702,874‌
Quipt
Home
Medical
Corp.
(a)
.............
121,451
217,397‌
RadNet,
Inc.
(a)
(b)
......................
1,663,506
94,670,126‌
SBC
Medical
Group
Holdings,
Inc.
(a)
........
142,797
662,578‌
Select
Medical
Holdings
Corp.
............
2,796,087
42,444,601‌
Sonida
Senior
Living,
Inc.
(a)
(b)
.............
133,503
3,330,900‌
Surgery
Partners,
Inc.
(a)
(b)
...............
1,933,058
42,971,879‌
Talkspace,
Inc.
(a)
(b)
....................
3,094,970
8,604,017‌
US
Physical
Therapy,
Inc.
...............
370,056
28,938,379‌
Viemed
Healthcare,
Inc.
(a)
...............
825,098
5,701,427‌
2,115,698,940‌
Health
Care
REITs
—
1.0%
American
Healthcare
REIT,
Inc.
...........
4,009,260
147,300,212‌
CareTrust
REIT,
Inc.
...................
4,717,603
144,358,652‌
Community
Healthcare
Trust,
Inc.
..........
695,055
11,558,765‌
Diversified
Healthcare
Trust
..............
5,513,986
19,740,070‌
Global
Medical
REIT,
Inc.
...............
1,588,836
11,010,633‌
LTC
Properties,
Inc.
...................
1,148,578
39,752,285‌
National
Health
Investors,
Inc.
............
1,157,303
81,150,086‌
Sabra
Health
Care
REIT,
Inc.
.............
5,984,591
110,355,858‌
Sila
Realty
Trust,
Inc.
..................
1,366,906
32,354,665‌
Strawberry
Fields
REIT,
Inc.
.............
149,048
1,570,966‌
Universal
Health
Realty
Income
Trust
.......
320,506
12,810,625‌
611,962,817‌
Health
Care
Technology
—
0.5%
Claritev
Corp.
(a)
(b)
.....................
166,925
7,533,325‌
Definitive
Healthcare
Corp.
,
Class
A
(a)
(b)
......
942,113
3,674,241‌
Evolent
Health,
Inc.
,
Class
A
(a)
(b)
...........
2,927,193
32,960,193‌
Health
Catalyst,
Inc.
(a)
(b)
.................
1,653,877
6,235,116‌
HealthStream,
Inc.
(b)
...................
597,774
16,540,407‌
LifeMD,
Inc.
(a)
.......................
922,161
12,559,833‌
OptimizeRx
Corp.
(a)
(b)
..................
436,721
5,895,734‌
Phreesia,
Inc.
(a)
(b)
.....................
1,416,164
40,304,027‌
Schrodinger,
Inc.
(a)
(b)
...................
1,406,136
28,291,456‌
Simulations
Plus,
Inc.
(b)
.................
416,155
7,261,905‌
Teladoc
Health,
Inc.
(a)
(b)
.................
4,401,966
38,341,124‌
TruBridge,
Inc.
(a)
(b)
....................
240,787
5,639,232‌
Waystar
Holding
Corp.
(a)
(b)
...............
2,284,282
93,358,605‌
298,595,198‌
Hotel
&
Resort
REITs
—
0.7%
Apple
Hospitality
REIT,
Inc.
..............
5,714,876
66,692,603‌
Braemar
Hotels
&
Resorts,
Inc.
...........
1,578,760
3,867,962‌
Chatham
Lodging
Trust
.................
1,225,601
8,542,439‌
DiamondRock
Hospitality
Co.
.............
5,393,918
41,317,412‌
Pebblebrook
Hotel
Trust
................
2,984,842
29,818,572‌
RLJ
Lodging
Trust
....................
3,842,202
27,971,230‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
11
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Hotel
&
Resort
REITs
(continued)
Ryman
Hospitality
Properties,
Inc.
.........
1,475,787
$
145,615,903‌
Service
Properties
Trust
................
3,997,490
9,554,001‌
Summit
Hotel
Properties,
Inc.
.............
2,758,168
14,039,075‌
Sunstone
Hotel
Investors,
Inc.
............
4,924,091
42,741,110‌
Xenia
Hotels
&
Resorts,
Inc.
.............
2,584,087
32,481,974‌
422,642,281‌
Hotels,
Restaurants
&
Leisure
—
2.3%
Accel
Entertainment,
Inc.
,
Class
A
(a)
........
1,339,758
15,768,952‌
Bally's
Corp.
(a)
(b)
......................
146,909
1,407,388‌
Biglari
Holdings,
Inc.
,
Class
B,
NVS
(a)
(b)
......
16,673
4,872,017‌
BJ's
Restaurants,
Inc.
(a)
(b)
...............
537,125
23,955,775‌
Bloomin'
Brands,
Inc.
..................
2,094,222
18,031,251‌
Brinker
International,
Inc.
(a)
..............
1,107,043
199,633,064‌
Cheesecake
Factory,
Inc.
(The)
(b)
..........
1,167,850
73,177,481‌
Cracker
Barrel
Old
Country
Store,
Inc.
.......
556,160
33,970,253‌
Dave
&
Buster's
Entertainment,
Inc.
(a)
(b)
......
683,204
20,550,776‌
Denny's
Corp.
(a)
(b)
.....................
1,242,831
5,095,607‌
Dine
Brands
Global,
Inc.
................
390,868
9,509,818‌
El
Pollo
Loco
Holdings,
Inc.
(a)
(b)
............
656,876
7,232,205‌
Everi
Holdings,
Inc.
(a)
..................
2,116,288
30,135,941‌
First
Watch
Restaurant
Group,
Inc.
(a)
(b)
.......
1,013,389
16,254,760‌
Full
House
Resorts,
Inc.
(a)
...............
98,624
360,964‌
Genius
Sports
Ltd.
(a)
(b)
..................
5,510,895
57,313,308‌
Global
Business
Travel
Group
I
(a)
(b)
.........
2,452,138
15,448,469‌
Golden
Entertainment,
Inc.
..............
496,214
14,603,578‌
Hilton
Grand
Vacations,
Inc.
(a)
(b)
...........
1,549,983
64,370,794‌
Inspired
Entertainment,
Inc.
(a)
(b)
............
610,942
4,991,396‌
International
Game
Technology
plc
.........
2,831,131
44,760,181‌
Jack
in
the
Box,
Inc.
...................
474,821
8,290,375‌
Krispy
Kreme,
Inc.
....................
1,999,128
5,817,462‌
Kura
Sushi
USA,
Inc.
,
Class
A
(a)
(b)
..........
157,847
13,587,470‌
Life
Time
Group
Holdings,
Inc.
(a)
(b)
..........
3,394,856
102,965,982‌
Lindblad
Expeditions
Holdings,
Inc.
(a)
(b)
......
939,395
10,962,740‌
Marriott
Vacations
Worldwide
Corp.
.........
793,080
57,347,615‌
Monarch
Casino
&
Resort,
Inc.
............
318,461
27,527,769‌
Nathan's
Famous,
Inc.
.................
60,603
6,701,480‌
ONE
Group
Hospitality,
Inc.
(The)
(a)
.........
44,339
179,573‌
Papa
John's
International,
Inc.
............
816,082
39,939,053‌
PlayAGS,
Inc.
(a)
......................
1,010,943
12,626,678‌
Portillo's,
Inc.
,
Class
A
(a)
(b)
...............
1,408,315
16,435,036‌
Potbelly
Corp.
(a)
(b)
.....................
659,132
8,074,367‌
Pursuit
Attractions
&
Hospitality,
Inc.
(a)
(b)
......
521,120
15,023,890‌
RCI
Hospitality
Holdings,
Inc.
(b)
............
200,891
7,657,965‌
Red
Rock
Resorts,
Inc.
,
Class
A
...........
1,222,083
63,584,978‌
Rush
Street
Interactive,
Inc.
,
Class
A
(a)
(b)
.....
2,212,483
32,965,997‌
Sabre
Corp.
(a)
(b)
......................
9,107,120
28,778,499‌
Serve
Robotics,
Inc.
(a)
..................
884,333
10,116,770‌
Shake
Shack,
Inc.
,
Class
A
(a)
(b)
............
971,136
136,541,722‌
Six
Flags
Entertainment
Corp.
(a)
(b)
..........
2,391,997
72,788,469‌
Super
Group
SGHC
Ltd.
................
3,993,687
43,810,746‌
Sweetgreen,
Inc.
,
Class
A
(a)
(b)
.............
2,585,175
38,467,404‌
Target
Hospitality
Corp.
(a)
(b)
..............
827,081
5,888,817‌
United
Parks
&
Resorts,
Inc.
(a)
(b)
...........
687,281
32,405,299‌
Xponential
Fitness,
Inc.
,
Class
A
(a)
(b)
........
684,002
5,123,175‌
1,465,053,309‌
Household
Durables
—
1.7%
Bassett
Furniture
Industries,
Inc.
..........
92,242
1,402,078‌
Beazer
Homes
USA,
Inc.
(a)
(b)
.............
730,412
16,339,317‌
Cavco
Industries,
Inc.
(a)
(b)
................
190,385
82,708,956‌
Century
Communities,
Inc.
..............
672,997
37,903,191‌
Champion
Homes,
Inc.
(a)
(b)
...............
1,347,901
84,392,082‌
Cricut,
Inc.
,
Class
A
...................
1,210,496
8,195,058‌
Dream
Finders
Homes,
Inc.
,
Class
A
(a)
(b)
......
742,719
18,664,529‌
Security
Shares
Shares
Value
Household
Durables
(continued)
Ethan
Allen
Interiors,
Inc.
...............
579,425
$
16,136,986‌
Flexsteel
Industries,
Inc.
................
99,527
3,585,958‌
GoPro,
Inc.
,
Class
A
(a)
..................
102,625
77,718‌
Green
Brick
Partners,
Inc.
(a)
..............
779,205
48,996,410‌
Hamilton
Beach
Brands
Holding
Co.
,
Class
A
..
184,617
3,302,798‌
Helen
of
Troy
Ltd.
(a)
(b)
..................
578,872
16,428,387‌
Hooker
Furnishings
Corp.
...............
34,110
360,884‌
Hovnanian
Enterprises,
Inc.
,
Class
A
(a)
(b)
.....
123,576
12,919,871‌
Installed
Building
Products,
Inc.
(b)
..........
584,703
105,433,645‌
KB
Home
..........................
1,727,721
91,517,381‌
La-Z-Boy,
Inc.
.......................
1,040,243
38,665,832‌
Legacy
Housing
Corp.
(a)
(b)
...............
209,323
4,743,259‌
Leggett
&
Platt,
Inc.
...................
3,289,281
29,340,387‌
LGI
Homes,
Inc.
(a)
(b)
...................
515,661
26,566,855‌
Lovesac
Co.
(The)
(a)
(b)
..................
351,573
6,398,629‌
M/I
Homes,
Inc.
(a)
(b)
....................
661,405
74,156,729‌
Meritage
Homes
Corp.
.................
1,764,297
118,154,970‌
Purple
Innovation,
Inc.
(a)
................
324,726
236,790‌
Sonos,
Inc.
(a)
........................
2,967,151
32,074,902‌
Taylor
Morrison
Home
Corp.
(a)
............
2,488,501
152,843,731‌
Traeger,
Inc.
(a)
(b)
......................
830,064
1,419,409‌
TRI
Pointe
Homes,
Inc.
(a)
(b)
..............
2,254,526
72,032,106‌
United
Homes
Group,
Inc.
,
Class
A
(a)
........
20,737
60,137‌
1,105,058,985‌
Household
Products
—
0.3%
Central
Garden
&
Pet
Co.
(a)
(b)
.............
282,345
9,932,897‌
Central
Garden
&
Pet
Co.
,
Class
A,
NVS
(a)
....
1,227,298
38,402,155‌
Energizer
Holdings,
Inc.
................
1,665,971
33,585,975‌
Oil-Dri
Corp.
of
America
................
245,506
14,482,399‌
Spectrum
Brands
Holdings,
Inc.
...........
632,176
33,505,328‌
WD-40
Co.
.........................
337,977
77,089,174‌
206,997,928‌
Independent
Power
and
Renewable
Electricity
Producers
—
0.2%
Hallador
Energy
Co.
(a)
..................
779,535
12,340,039‌
Montauk
Renewables,
Inc.
(a)
(b)
............
1,600,982
3,554,180‌
Ormat
Technologies,
Inc.
(b)
..............
1,523,560
127,613,386‌
143,507,605‌
Industrial
Conglomerates
—
0.0%
Brookfield
Business
Corp.
,
Class
A
(b)
........
619,677
19,333,922‌
Industrial
REITs
—
0.4%
Industrial
Logistics
Properties
Trust
.........
1,394,945
6,347,000‌
Innovative
Industrial
Properties,
Inc.
........
700,256
38,668,136‌
LXP
Industrial
Trust
...................
7,381,259
60,969,199‌
Plymouth
Industrial
REIT,
Inc.
............
1,075,786
17,277,123‌
Terreno
Realty
Corp.
..................
2,552,625
143,125,684‌
266,387,142‌
Insurance
—
2.4%
Ambac
Financial
Group,
Inc.
(a)
............
1,214,147
8,620,444‌
American
Coastal
Insurance
Corp.
.........
661,444
7,355,257‌
AMERISAFE,
Inc.
....................
479,712
20,977,806‌
Baldwin
Insurance
Group,
Inc.
(The)
,
Class
A
(a)
(b)
1,758,666
75,288,491‌
Bowhead
Specialty
Holdings,
Inc.
(a)
(b)
........
402,054
15,089,087‌
Citizens,
Inc.
,
Class
A
(a)
(b)
...............
855,859
2,986,948‌
CNO
Financial
Group,
Inc.
...............
2,519,089
97,186,454‌
Crawford
&
Co.
,
Class
A,
NVS
............
489,689
5,180,910‌
Donegal
Group,
Inc.
,
Class
A
.............
443,644
8,883,971‌
eHealth,
Inc.
(a)
.......................
635,043
2,762,437‌
Employers
Holdings,
Inc.
................
587,913
27,737,735‌
Enstar
Group
Ltd.
(a)
...................
301,999
101,580,384‌
F&G
Annuities
&
Life,
Inc.
...............
533,255
17,053,495‌
Fidelis
Insurance
Holdings
Ltd.
............
1,524,483
25,275,928‌
Genworth
Financial,
Inc.
,
Class
A
(a)
.........
9,998,650
77,789,497‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
12
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Insurance
(continued)
GoHealth,
Inc.
,
Class
A
(a)
................
122,858
$
681,862‌
Goosehead
Insurance,
Inc.
,
Class
A
........
597,325
63,023,761‌
Greenlight
Capital
Re
Ltd.
,
Class
A
(a)
........
726,210
10,435,638‌
Hamilton
Insurance
Group
Ltd.
,
Class
B
(a)
....
1,153,430
24,937,156‌
HCI
Group,
Inc.
......................
217,810
33,150,682‌
Heritage
Insurance
Holdings,
Inc.
(a)
(b)
........
570,219
14,221,262‌
Hippo
Holdings,
Inc.
(a)
(b)
.................
455,012
12,708,485‌
Horace
Mann
Educators
Corp.
............
1,048,592
45,057,998‌
Investors
Title
Co.
(b)
...................
36,544
7,721,747‌
James
River
Group
Holdings
Ltd.
..........
939,316
5,504,392‌
Kestrel
Group
Ltd.
(b)
...................
109,066
2,892,430‌
Kingstone
Cos.,
Inc.
(a)
(b)
.................
211,915
3,265,610‌
Kingsway
Financial
Services,
Inc.
(a)
(b)
........
427,826
5,792,764‌
Lemonade,
Inc.
(a)
(b)
....................
1,392,351
60,998,897‌
MBIA,
Inc.
(a)
........................
1,166,086
5,060,813‌
Mercury
General
Corp.
.................
679,279
45,742,648‌
NI
Holdings,
Inc.
(a)
....................
198,032
2,522,928‌
Oscar
Health,
Inc.
,
Class
A
(a)
(b)
............
4,584,936
98,301,028‌
Palomar
Holdings,
Inc.
(a)
(b)
...............
661,917
102,100,697‌
ProAssurance
Corp.
(a)
(b)
.................
1,284,876
29,333,719‌
Root,
Inc.
,
Class
A
(a)
(b)
..................
266,909
34,156,345‌
Safety
Insurance
Group,
Inc.
.............
369,841
29,361,677‌
Selective
Insurance
Group,
Inc.
...........
1,525,121
132,151,735‌
Selectquote,
Inc.
(a)
(b)
...................
3,503,038
8,337,230‌
SiriusPoint
Ltd.
(a)
(b)
....................
1,947,197
39,703,347‌
Skyward
Specialty
Insurance
Group,
Inc.
(a)
....
911,029
52,648,366‌
Stewart
Information
Services
Corp.
.........
699,556
45,541,096‌
Tiptree,
Inc.
........................
620,559
14,632,781‌
Trupanion,
Inc.
(a)
(b)
....................
932,524
51,615,203‌
United
Fire
Group,
Inc.
.................
540,074
15,500,124‌
Universal
Insurance
Holdings,
Inc.
.........
665,040
18,441,559‌
1,509,312,824‌
Interactive
Media
&
Services
—
0.7%
Angi,
Inc.
(a)
.........................
1,081,121
16,497,906‌
Arena
Group
Holdings,
Inc.
(The)
(a)
.........
267,780
1,660,236‌
Bumble,
Inc.
,
Class
A
(a)
(b)
................
1,835,118
12,093,428‌
Cargurus,
Inc.
,
Class
A
(a)
................
2,072,460
69,365,236‌
Cars.com,
Inc.
(a)
(b)
....................
1,469,258
17,410,707‌
EverQuote,
Inc.
,
Class
A
(a)
(b)
..............
680,067
16,444,020‌
fuboTV,
Inc.
(a)
(b)
......................
8,360,824
32,272,781‌
Getty
Images
Holdings,
Inc.
,
Class
A
(a)
(b)
.....
2,708,285
4,495,753‌
Grindr,
Inc.
(a)
(b)
.......................
851,320
19,324,964‌
MediaAlpha,
Inc.
,
Class
A
(a)
(b)
.............
827,135
9,057,128‌
Nextdoor
Holdings,
Inc.
,
Class
A
(a)
(b)
........
5,207,929
8,645,162‌
QuinStreet,
Inc.
(a)
.....................
1,357,351
21,853,351‌
Rumble,
Inc.
,
Class
A
(a)
.................
1,957,641
17,579,616‌
Shutterstock,
Inc.
.....................
606,332
11,496,055‌
System1,
Inc.
(a)
......................
6,621
36,614‌
Teads
Holding
Co.
(a)
(b)
..................
966,774
2,397,600‌
Travelzoo
(a)
.........................
136,278
1,734,819‌
TripAdvisor,
Inc.
(a)
(b)
...................
2,889,616
37,709,489‌
TrueCar,
Inc.
(a)
.......................
2,082,639
3,957,014‌
Vimeo,
Inc.
(a)
........................
3,942,803
15,928,924‌
VTEX
,
Class
A
(a)
(b)
....................
1,373,180
9,062,988‌
Webtoon
Entertainment,
Inc.
(a)
(b)
...........
453,586
4,118,561‌
Yelp,
Inc.
(a)
.........................
1,549,588
53,104,381‌
Ziff
Davis,
Inc.
(a)
(b)
.....................
1,060,854
32,112,051‌
ZipRecruiter,
Inc.
,
Class
A
(a)
(b)
.............
1,676,932
8,401,429‌
426,760,213‌
IT
Services
—
0.5%
Applied
Digital
Corp.
(a)
(b)
................
4,433,027
44,640,582‌
ASGN,
Inc.
(a)
........................
1,081,817
54,015,123‌
Backblaze,
Inc.
,
Class
A
(a)
...............
1,324,133
7,282,731‌
Security
Shares
Shares
Value
IT
Services
(continued)
BigBear.ai
Holdings,
Inc.
(a)
(b)
..............
7,251,625
$
49,238,534‌
BigCommerce
Holdings,
Inc.
(a)
(b)
...........
1,706,534
8,532,670‌
Couchbase,
Inc.
(a)
....................
1,074,017
26,184,534‌
Crexendo,
Inc.
(a)
(b)
....................
273,165
1,658,112‌
CSP,
Inc.
..........................
114,992
1,487,996‌
DigitalOcean
Holdings,
Inc.
(a)
(b)
............
1,623,123
46,356,393‌
Fastly,
Inc.
,
Class
A
(a)
(b)
.................
3,446,217
24,330,292‌
Grid
Dynamics
Holdings,
Inc.
,
Class
A
(a)
(b)
....
1,671,547
19,306,368‌
Hackett
Group,
Inc.
(The)
...............
617,397
15,694,232‌
Information
Services
Group,
Inc.
...........
957,879
4,597,819‌
Rackspace
Technology,
Inc.
(a)
............
2,138,550
2,737,344‌
TSS,
Inc.
(a)
.........................
454,332
13,098,392‌
Tucows,
Inc.
,
Class
A
(a)
(b)
................
177,007
3,488,808‌
Unisys
Corp.
(a)
.......................
1,718,329
7,784,030‌
330,433,960‌
Leisure
Products
—
0.4%
Acushnet
Holdings
Corp.
(b)
..............
702,849
51,181,464‌
American
Outdoor
Brands,
Inc.
(a)
(b)
.........
179,106
1,871,658‌
Clarus
Corp.
........................
647,880
2,248,144‌
Escalade,
Inc.
.......................
242,417
3,388,990‌
Funko,
Inc.
,
Class
A
(a)
(b)
.................
864,660
4,115,782‌
JAKKS
Pacific,
Inc.
...................
228,945
4,757,477‌
Johnson
Outdoors,
Inc.
,
Class
A
...........
120,455
3,646,173‌
Latham
Group,
Inc.
(a)
(b)
.................
1,129,031
7,203,218‌
Malibu
Boats,
Inc.
,
Class
A
(a)
(b)
............
482,956
15,135,841‌
Marine
Products
Corp.
.................
183,183
1,558,887‌
MasterCraft
Boat
Holdings,
Inc.
(a)
(b)
.........
399,461
7,421,985‌
Outdoor
Holding
Co.
(a)
(b)
................
2,227,453
2,851,140‌
Peloton
Interactive,
Inc.
,
Class
A
(a)
(b)
........
9,229,319
64,051,474‌
Polaris,
Inc.
.........................
1,318,640
53,602,716‌
Smith
&
Wesson
Brands,
Inc.
.............
1,109,049
9,626,545‌
Sturm
Ruger
&
Co.,
Inc.
................
398,086
14,291,287‌
Topgolf
Callaway
Brands
Corp.
(a)
..........
3,307,879
26,628,426‌
273,581,207‌
Life
Sciences
Tools
&
Services
—
0.4%
10X
Genomics,
Inc.
,
Class
A
(a)
............
2,611,051
30,235,971‌
Adaptive
Biotechnologies
Corp.
(a)
(b)
.........
3,733,068
43,490,242‌
Akoya
Biosciences,
Inc.
(a)
...............
111,831
145,380‌
Alpha
Teknova,
Inc.
(a)
..................
260,987
1,281,446‌
Azenta,
Inc.
(a)
.......................
877,554
27,011,112‌
BioLife
Solutions,
Inc.
(a)
(b)
................
953,797
20,544,787‌
Codexis,
Inc.
(a)
(b)
.....................
2,085,172
5,087,820‌
CryoPort,
Inc.
(a)
(b)
.....................
1,198,295
8,939,281‌
Cytek
Biosciences,
Inc.
(a)
(b)
..............
2,959,796
10,063,306‌
Fortrea
Holdings,
Inc.
(a)
(b)
................
2,246,515
11,097,784‌
Harvard
Bioscience,
Inc.
(a)
...............
224,138
99,473‌
Lifecore
Biomedical,
Inc.
(a)
(b)
..............
676,916
5,496,558‌
Maravai
LifeSciences
Holdings,
Inc.
,
Class
A
(a)
(b)
3,042,061
7,331,367‌
MaxCyte,
Inc.
(a)
(b)
.....................
2,575,831
5,615,312‌
Mesa
Laboratories,
Inc.
................
130,138
12,261,602‌
Nautilus
Biotechnology,
Inc.
(a)
.............
199,563
144,663‌
Niagen
Bioscience,
Inc.
(a)
(b)
..............
1,311,334
18,896,323‌
OmniAb,
Inc.
(a)
(b)
.....................
2,447,589
4,258,805‌
OmniAb,
Inc.,
12.50
Earnout
Shares
(a)
(d)
......
130,676
1‌
OmniAb,
Inc.,
15.00
Earnout
Shares
(a)
(d)
......
130,676
1‌
Pacific
Biosciences
of
California,
Inc.
(a)
(b)
.....
6,905,133
8,562,365‌
Personalis,
Inc.
(a)
(b)
....................
968,705
6,354,705‌
Quanterix
Corp.
(a)
(b)
...................
925,658
6,155,626‌
Quantum-Si,
Inc.
,
Class
A
(a)
(b)
.............
3,551,041
6,960,040‌
Standard
BioTools,
Inc.
(a)
(b)
...............
7,424,165
8,908,998‌
248,942,968‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
13
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Machinery
—
3.8%
374Water,
Inc.
(a)
......................
273,434
$
88,675‌
3D
Systems
Corp.
(a)
(b)
..................
3,415,677
5,260,143‌
AirJoule
Technologies
Corp.
(a)
(b)
...........
335,768
1,554,606‌
Alamo
Group,
Inc.
....................
257,165
56,159,693‌
Albany
International
Corp.
,
Class
A
.........
753,600
52,849,968‌
Astec
Industries,
Inc.
..................
572,524
23,868,525‌
Atmus
Filtration
Technologies,
Inc.
.........
2,082,126
75,831,029‌
Blue
Bird
Corp.
(a)
(b)
....................
803,140
34,663,522‌
Chart
Industries,
Inc.
(a)
.................
1,130,644
186,160,535‌
Columbus
McKinnon
Corp.
..............
712,652
10,882,196‌
Douglas
Dynamics,
Inc.
................
562,966
16,590,608‌
Eastern
Co.
(The)
....................
128,573
2,934,036‌
Energy
Recovery,
Inc.
(a)
................
1,336,622
17,082,029‌
Enerpac
Tool
Group
Corp.
,
Class
A
.........
1,347,734
54,664,091‌
Enpro,
Inc.
.........................
528,012
101,140,699‌
ESCO
Technologies,
Inc.
...............
650,263
124,765,962‌
Federal
Signal
Corp.
..................
1,498,157
159,433,868‌
Franklin
Electric
Co.,
Inc.
...............
997,711
89,534,585‌
Gencor
Industries,
Inc.
(a)
................
223,388
3,127,432‌
Gorman-Rupp
Co.
(The)
................
502,879
18,465,717‌
Graham
Corp.
(a)
(b)
.....................
258,561
12,801,355‌
Greenbrier
Cos.,
Inc.
(The)
..............
776,050
35,737,102‌
Helios
Technologies,
Inc.
................
826,884
27,593,119‌
Hillenbrand,
Inc.
.....................
1,757,302
35,269,051‌
Hillman
Solutions
Corp.
(a)
(b)
..............
4,932,323
35,216,786‌
Hyster-Yale,
Inc.
,
Class
A
...............
297,331
11,827,827‌
JBT
Marel
Corp.
.....................
1,302,898
156,686,513‌
Kadant,
Inc.
(b)
.......................
293,869
93,288,714‌
Kennametal,
Inc.
.....................
1,949,157
44,752,645‌
L
B
Foster
Co.
,
Class
A
(a)
................
247,982
5,423,366‌
Lindsay
Corp.
.......................
268,243
38,694,053‌
Luxfer
Holdings
plc
...................
647,292
7,884,017‌
Manitowoc
Co.,
Inc.
(The)
(a)
(b)
.............
879,368
10,570,003‌
Mayville
Engineering
Co.,
Inc.
(a)
(b)
..........
352,783
5,630,417‌
Microvast
Holdings,
Inc.
(a)
...............
4,942,025
17,939,551‌
Miller
Industries,
Inc.
..................
274,582
12,207,916‌
Mueller
Water
Products,
Inc.
,
Class
A
.......
3,896,358
93,668,446‌
Omega
Flex,
Inc.
.....................
76,163
2,466,158‌
Palladyne
AI
Corp.
(a)
(b)
..................
639,443
5,537,576‌
Park-Ohio
Holdings
Corp.
...............
228,174
4,075,188‌
Proto
Labs,
Inc.
(a)
.....................
597,033
23,905,201‌
REV
Group,
Inc.
(b)
....................
1,287,167
61,256,277‌
Richtech
Robotics,
Inc.
,
Class
B
(a)
..........
1,742,065
3,397,027‌
Shyft
Group,
Inc.
(The)
.................
822,893
10,319,078‌
SPX
Technologies,
Inc.
(a)
................
1,137,191
190,684,187‌
Standex
International
Corp.
..............
292,491
45,768,992‌
Tennant
Co.
........................
465,237
36,046,563‌
Terex
Corp.
.........................
1,640,332
76,587,101‌
Titan
International,
Inc.
(a)
(b)
...............
1,228,571
12,617,424‌
Trinity
Industries,
Inc.
..................
2,047,992
55,316,264‌
Wabash
National
Corp.
.................
1,041,002
11,065,851‌
Watts
Water
Technologies,
Inc.
,
Class
A
......
685,043
168,445,223‌
Worthington
Enterprises,
Inc.
.............
786,915
50,079,271‌
2,437,816,181‌
Marine
Transportation
—
0.2%
Costamare
Bulkers
Holdings
Ltd.
(a)
(b)
........
216,998
1,881,373‌
Costamare,
Inc.
......................
1,113,805
10,146,764‌
Genco
Shipping
&
Trading
Ltd.
............
1,008,395
13,179,723‌
Golden
Ocean
Group
Ltd.
...............
2,572,701
18,832,171‌
Himalaya
Shipping
Ltd.
(b)
................
715,620
4,129,127‌
Matson,
Inc.
........................
812,797
90,504,946‌
Pangaea
Logistics
Solutions
Ltd.
..........
819,242
3,850,437‌
Security
Shares
Shares
Value
Marine
Transportation
(continued)
Safe
Bulkers,
Inc.
....................
1,437,134
$
5,188,054‌
147,712,595‌
Media
—
0.8%
Advantage
Solutions,
Inc.
,
Class
A
(a)
(b)
.......
2,406,018
3,175,944‌
Altice
USA,
Inc.
,
Class
A
(a)
(b)
..............
6,330,755
13,547,816‌
AMC
Networks,
Inc.
,
Class
A
(a)
............
806,126
5,054,410‌
Boston
Omaha
Corp.
,
Class
A
(a)
(b)
..........
558,201
7,837,142‌
Cable
One,
Inc.
......................
129,209
17,547,874‌
Cardlytics,
Inc.
(a)
.....................
72,514
119,285‌
EchoStar
Corp.
,
Class
A
(a)
(b)
..............
3,382,930
93,707,161‌
Emerald
Holding,
Inc.
(b)
.................
379,714
1,841,613‌
Entravision
Communications
Corp.
,
Class
A
...
1,529,606
3,548,686‌
EW
Scripps
Co.
(The)
,
Class
A
(a)
..........
1,550,700
4,559,058‌
Gambling.com
Group
Ltd.
(a)
(b)
.............
420,485
4,999,567‌
Gannett
Co.,
Inc.
(a)
(b)
...................
3,599,299
12,885,490‌
Gray
Media,
Inc.
.....................
2,197,155
9,953,112‌
Ibotta,
Inc.
,
Class
A
(a)
(b)
.................
326,939
11,965,967‌
iHeartMedia,
Inc.
,
Class
A
(a)
(b)
.............
2,937,946
5,170,785‌
Integral
Ad
Science
Holding
Corp.
(a)
(b)
.......
1,912,452
15,892,476‌
John
Wiley
&
Sons,
Inc.
,
Class
A
..........
1,027,055
45,837,465‌
Magnite,
Inc.
(a)
(b)
......................
3,495,931
84,321,856‌
National
CineMedia,
Inc.
(b)
...............
1,663,015
8,057,308‌
Newsmax,
Inc.
(a)
.....................
179,960
2,722,795‌
Nexxen
International
Ltd.
(a)
(b)
.............
847,610
8,823,620‌
PubMatic,
Inc.
,
Class
A
(a)
(b)
...............
1,054,186
13,114,074‌
Scholastic
Corp.
.....................
552,207
11,585,303‌
Sinclair,
Inc.
,
Class
A
..................
982,268
13,574,944‌
Stagwell,
Inc.
,
Class
A
(a)
(b)
...............
2,875,927
12,941,671‌
TechTarget,
Inc.
(a)
.....................
670,148
5,207,050‌
TEGNA,
Inc.
........................
4,075,732
68,309,268‌
Thryv
Holdings,
Inc.
(a)
(b)
.................
949,875
11,550,480‌
WideOpenWest,
Inc.
(a)
(b)
................
1,232,170
5,002,610‌
502,854,830‌
Metals
&
Mining
—
1.5%
Alpha
Metallurgical
Resources,
Inc.
(a)
.......
292,982
32,954,615‌
American
Battery
Technology
Co.
(a)
.........
1,771,188
2,869,325‌
Ascent
Industries
Co.
(a)
(b)
................
151,556
1,911,121‌
Caledonia
Mining
Corp.
plc
..............
415,803
8,033,314‌
Carpenter
Technology
Corp.
.............
45,538
12,585,792‌
Century
Aluminum
Co.
(a)
(b)
...............
1,329,600
23,959,392‌
Coeur
Mining,
Inc.
(a)
(b)
..................
15,995,697
141,721,875‌
Commercial
Metals
Co.
.................
2,840,872
138,947,049‌
Compass
Minerals
International,
Inc.
(a)
.......
875,707
17,592,954‌
Constellium
SE
,
Class
A
(a)
...............
3,559,648
47,343,318‌
Contango
ORE,
Inc.
(a)
(b)
.................
219,887
4,283,399‌
Critical
Metals
Corp.
(a)
(b)
.................
744,159
2,664,089‌
Dakota
Gold
Corp.
(a)
(b)
..................
2,114,749
7,803,424‌
Ferroglobe
plc
.......................
2,779,283
10,199,969‌
Friedman
Industries,
Inc.
................
83,402
1,381,137‌
Hecla
Mining
Co.
(b)
....................
14,998,101
89,838,625‌
i-80
Gold
Corp.
(a)
(b)
....................
408,434
244,407‌
Idaho
Strategic
Resources,
Inc.
(a)
(b)
.........
276,301
3,614,017‌
Ivanhoe
Electric,
Inc.
(a)
(b)
................
2,140,237
19,411,950‌
Kaiser
Aluminum
Corp.
.................
403,448
32,235,495‌
Lifezone
Metals
Ltd.
(a)
(b)
.................
772,459
3,182,531‌
MAC
Copper
Ltd.
,
Class
A
(a)
(b)
............
1,771,795
21,421,002‌
Materion
Corp.
......................
518,340
41,140,646‌
Metallus,
Inc.
(a)
(b)
.....................
952,147
14,672,585‌
NioCorp
Developments
Ltd.
(a)
.............
1,194,578
2,783,367‌
Novagold
Resources,
Inc.
(a)
(b)
.............
6,233,524
25,495,113‌
Olympic
Steel,
Inc.
....................
246,940
8,047,775‌
Perpetua
Resources
Corp.
(a)
(b)
............
1,164,360
14,135,330‌
Piedmont
Lithium,
Inc.
(a)
(b)
...............
508,847
2,961,490‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
14
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Metals
&
Mining
(continued)
Radius
Recycling,
Inc.
,
Class
A
...........
698,131
$
20,727,509‌
Ramaco
Resources,
Inc.
,
Class
A
..........
877,454
11,529,746‌
Ramaco
Resources,
Inc.
,
Class
B
..........
22,913
187,428‌
Ryerson
Holding
Corp.
.................
687,838
14,836,666‌
SSR
Mining,
Inc.
(a)
....................
5,099,801
64,971,465‌
SunCoke
Energy,
Inc.
..................
2,131,005
18,305,333‌
Tredegar
Corp.
(a)
.....................
685,299
6,030,631‌
United
States
Antimony
Corp.
(a)
(b)
..........
2,273,664
4,956,587‌
US
Gold
Corp.
(a)
(b)
....................
259,080
3,160,776‌
Vox
Royalty
Corp.
....................
685,080
2,164,853‌
Warrior
Met
Coal,
Inc.
..................
1,302,082
59,674,418‌
Worthington
Steel,
Inc.
.................
828,835
24,724,148‌
964,704,666‌
Mortgage
Real
Estate
Investment
Trusts
(REITs)
—
0.9%
ACRES
Commercial
Realty
Corp.
(a)
.........
121,996
2,188,608‌
Advanced
Flower
Capital,
Inc.
............
472,472
2,116,675‌
AG
Mortgage
Investment
Trust,
Inc.
........
747,938
5,646,932‌
Angel
Oak
Mortgage
REIT,
Inc.
...........
317,783
2,993,516‌
Apollo
Commercial
Real
Estate
Finance,
Inc.
..
3,559,870
34,459,542‌
Arbor
Realty
Trust,
Inc.
(b)
................
3,767,702
40,314,411‌
Ares
Commercial
Real
Estate
Corp.
........
1,359,936
6,486,895‌
ARMOUR
Residential
REIT,
Inc.
...........
2,062,106
34,664,002‌
Blackstone
Mortgage
Trust,
Inc.
,
Class
A
.....
4,153,960
79,963,730‌
BrightSpire
Capital,
Inc.
,
Class
A
..........
3,326,946
16,801,077‌
Chicago
Atlantic
Real
Estate
Finance,
Inc.
....
438,687
6,124,070‌
Chimera
Investment
Corp.
...............
2,048,524
28,413,028‌
Claros
Mortgage
Trust,
Inc.
..............
2,326,907
6,631,685‌
Dynex
Capital,
Inc.
....................
2,689,808
32,869,454‌
Ellington
Financial,
Inc.
.................
2,317,556
30,105,052‌
Franklin
BSP
Realty
Trust,
Inc.
............
2,079,173
22,226,359‌
Invesco
Mortgage
Capital,
Inc.
............
1,794,909
14,072,087‌
KKR
Real
Estate
Finance
Trust,
Inc.
........
1,480,806
12,986,669‌
Ladder
Capital
Corp.
,
Class
A
............
3,006,621
32,321,176‌
Lument
Finance
Trust,
Inc.
..............
408,347
902,447‌
MFA
Financial,
Inc.
....................
2,635,050
24,927,573‌
New
York
Mortgage
Trust,
Inc.
............
2,161,333
14,480,931‌
Nexpoint
Real
Estate
Finance,
Inc.
.........
229,669
3,167,135‌
Orchid
Island
Capital,
Inc.
...............
2,677,939
18,772,352‌
PennyMac
Mortgage
Investment
Trust
.......
2,172,977
27,944,484‌
Ready
Capital
Corp.
...................
4,172,371
18,233,261‌
Redwood
Trust,
Inc.
...................
3,442,222
20,343,532‌
Rithm
Property
Trust,
Inc.
...............
516,698
1,395,085‌
Seven
Hills
Realty
Trust
................
356,637
4,304,609‌
Sunrise
Realty
Trust,
Inc.
...............
260,841
2,764,915‌
TPG
RE
Finance
Trust,
Inc.
..............
1,752,747
13,531,207‌
Two
Harbors
Investment
Corp.
............
2,673,172
28,790,062‌
590,942,561‌
Multi-Utilities
—
0.4%
Avista
Corp.
........................
2,021,680
76,722,756‌
Black
Hills
Corp.
.....................
1,829,009
102,607,405‌
Northwestern
Energy
Group,
Inc.
..........
1,551,059
79,569,326‌
Unitil
Corp.
.........................
391,152
20,398,577‌
279,298,064‌
Office
REITs
—
0.7%
Brandywine
Realty
Trust
................
4,382,255
18,799,874‌
City
Office
REIT,
Inc.
..................
1,040,879
5,558,294‌
COPT
Defense
Properties
...............
2,870,886
79,179,036‌
Douglas
Emmett,
Inc.
..................
3,216,345
48,373,829‌
Easterly
Government
Properties,
Inc.
.......
997,107
22,135,775‌
Empire
State
Realty
Trust,
Inc.
,
Class
A
......
3,512,479
28,415,955‌
Franklin
Street
Properties
Corp.
...........
2,276,361
3,733,232‌
Hudson
Pacific
Properties,
Inc.
(a)
..........
7,981,521
21,869,367‌
JBG
SMITH
Properties
(b)
................
1,888,355
32,668,541‌
Security
Shares
Shares
Value
Office
REITs
(continued)
NET
Lease
Office
Properties
(a)
............
391,453
$
12,741,795‌
Paramount
Group,
Inc.
(a)
................
4,699,071
28,664,333‌
Peakstone
Realty
Trust
,
Class
E
..........
931,449
12,304,441‌
Piedmont
Realty
Trust,
Inc.
,
Class
A
........
3,152,326
22,980,457‌
Postal
Realty
Trust,
Inc.
,
Class
A
..........
526,835
7,760,280‌
SL
Green
Realty
Corp.
(b)
................
1,807,633
111,892,483‌
457,077,692‌
Oil,
Gas
&
Consumable
Fuels
—
3.1%
Aemetis,
Inc.
(a)
.......................
33,879
84,020‌
Ardmore
Shipping
Corp.
................
883,280
8,479,488‌
Berry
Corp.
.........................
2,025,009
5,609,275‌
BKV
Corp.
(a)
(b)
.......................
419,728
10,123,839‌
California
Resources
Corp.
..............
1,640,126
74,904,554‌
Calumet,
Inc.
(a)
(b)
.....................
1,537,348
24,220,918‌
Centrus
Energy
Corp.
,
Class
A
(a)
(b)
.........
369,234
67,636,284‌
Clean
Energy
Fuels
Corp.
(a)
(b)
.............
4,391,054
8,562,555‌
CNX
Resources
Corp.
(a)
(b)
...............
3,564,442
120,050,407‌
Comstock
Resources,
Inc.
(a)
..............
1,868,992
51,715,009‌
Core
Natural
Resources,
Inc.
(b)
............
1,323,244
92,283,037‌
Crescent
Energy,
Inc.
,
Class
A
............
4,449,099
38,262,251‌
CVR
Energy,
Inc.
.....................
785,863
21,100,421‌
Delek
US
Holdings,
Inc.
................
1,526,547
32,332,265‌
DHT
Holdings,
Inc.
....................
3,199,286
34,584,282‌
Diversified
Energy
Co.
plc
(c)
..............
1,363,190
19,997,997‌
Dorian
LPG
Ltd.
......................
926,131
22,579,074‌
Empire
Petroleum
Corp.
(a)
(b)
..............
332,654
1,756,413‌
Encore
Energy
Corp.
(a)
(b)
................
4,566,353
13,059,770‌
Energy
Fuels,
Inc.
(a)
(b)
..................
5,187,787
29,829,775‌
Epsilon
Energy
Ltd.
...................
338,383
2,497,266‌
Evolution
Petroleum
Corp.
...............
686,043
3,224,402‌
Excelerate
Energy,
Inc.
,
Class
A
...........
587,046
17,212,189‌
FLEX
LNG
Ltd.
(b)
.....................
768,118
16,883,234‌
FutureFuel
Corp.
.....................
634,727
2,462,741‌
Gevo,
Inc.
(a)
........................
5,507,627
7,270,068‌
Golar
LNG
Ltd.
......................
2,491,661
102,631,517‌
Granite
Ridge
Resources,
Inc.
............
1,306,098
8,319,844‌
Green
Plains,
Inc.
(a)
(b)
..................
1,594,229
9,613,201‌
Gulfport
Energy
Corp.
(a)
(b)
...............
380,112
76,467,131‌
HighPeak
Energy,
Inc.
(b)
................
449,767
4,407,717‌
Infinity
Natural
Resources,
Inc.
,
Class
A
(a)
(b)
...
356,418
6,526,014‌
International
Seaways,
Inc.
..............
1,004,119
36,630,261‌
Kinetik
Holdings,
Inc.
,
Class
A
............
1,103,162
48,594,286‌
Kolibri
Global
Energy,
Inc.
(a)
..............
774,359
5,304,359‌
Kosmos
Energy
Ltd.
(a)
(b)
.................
11,904,235
20,475,284‌
Lightbridge
Corp.
(a)
....................
363,858
4,864,781‌
Magnolia
Oil
&
Gas
Corp.
,
Class
A
.........
4,649,993
104,531,843‌
Murphy
Oil
Corp.
.....................
3,416,765
76,877,212‌
NACCO
Industries,
Inc.
,
Class
A
...........
92,366
4,092,737‌
Navigator
Holdings
Ltd.
(b)
...............
742,240
10,502,696‌
New
Fortress
Energy,
Inc.
,
Class
A
(a)
(b)
.......
4,202,552
13,952,473‌
NextDecade
Corp.
(a)
(b)
..................
3,333,639
29,702,723‌
NextNRG,
Inc.
(a)
(b)
....................
204,741
567,133‌
Nordic
American
Tankers
Ltd.
............
5,081,794
13,365,118‌
Northern
Oil
&
Gas,
Inc.
................
2,343,945
66,450,841‌
OPAL
Fuels,
Inc.
,
Class
A
(a)
(b)
.............
378,626
916,275‌
Par
Pacific
Holdings,
Inc.
(a)
..............
1,339,008
35,523,882‌
PBF
Energy,
Inc.
,
Class
A
...............
2,108,510
45,691,412‌
Peabody
Energy
Corp.
.................
3,074,592
41,261,025‌
Prairie
Operating
Co.
(a)
(b)
................
501,120
1,500,854‌
PrimeEnergy
Resources
Corp.
(a)
(b)
..........
13,845
2,026,631‌
REX
American
Resources
Corp.
(a)
.........
369,487
17,997,712‌
Riley
Exploration
Permian,
Inc.
............
319,807
8,388,538‌
Sable
Offshore
Corp.
,
Class
A
(a)
(b)
..........
1,708,348
37,549,489‌
SandRidge
Energy,
Inc.
................
884,362
9,568,797‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
15
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Oil,
Gas
&
Consumable
Fuels
(continued)
Scorpio
Tankers,
Inc.
..................
1,091,283
$
42,701,904‌
SFL
Corp.
Ltd.
.......................
3,046,948
25,381,077‌
Sitio
Royalties
Corp.
,
Class
A
.............
1,934,880
35,563,094‌
SM
Energy
Co.
......................
2,866,953
70,842,409‌
Summit
Midstream
Corp.
(a)
..............
211,917
5,198,324‌
Talos
Energy,
Inc.
(a)
...................
3,103,713
26,319,486‌
Teekay
Corp.
Ltd.
....................
1,332,258
10,991,128‌
Teekay
Tankers
Ltd.
,
Class
A
.............
601,192
25,081,730‌
Uranium
Energy
Corp.
(a)
(b)
...............
10,626,462
72,259,942‌
Ur-Energy,
Inc.
(a)
.....................
487,771
512,159‌
VAALCO
Energy,
Inc.
..................
2,598,268
9,379,747‌
Verde
Clean
Fuels,
Inc.
,
Class
A
(a)
(b)
........
87,377
300,577‌
Vital
Energy,
Inc.
(a)
(b)
...................
744,518
11,979,295‌
Vitesse
Energy,
Inc.
...................
708,762
15,656,553‌
W&T
Offshore,
Inc.
(b)
..................
2,413,066
3,981,559‌
World
Kinect
Corp.
....................
1,392,524
39,478,055‌
1,966,650,359‌
Paper
&
Forest
Products
—
0.1%
Clearwater
Paper
Corp.
(a)
...............
396,372
10,797,173‌
Magnera
Corp.
(a)
(b)
....................
817,152
9,871,196‌
Sylvamo
Corp.
......................
865,680
43,370,568‌
64,038,937‌
Passenger
Airlines
—
0.5%
(a)
Allegiant
Travel
Co.
...................
366,384
20,132,801‌
Blade
Air
Mobility,
Inc.
,
Class
A
(b)
..........
1,580,847
6,370,813‌
Frontier
Group
Holdings,
Inc.
(b)
............
2,129,046
7,728,437‌
JetBlue
Airways
Corp.
(b)
................
8,060,505
34,095,936‌
Joby
Aviation,
Inc.
,
Class
A
(b)
.............
11,519,824
121,534,143‌
SkyWest,
Inc.
.......................
1,018,908
104,916,957‌
Spirit
Aviation
Holdings,
Inc.
(b)
............
305,883
1,526,356‌
Sun
Country
Airlines
Holdings,
Inc.
.........
1,281,278
15,055,017‌
Wheels
Up
Experience,
Inc.
,
Class
A
(b)
......
215,185
230,248‌
311,590,708‌
Personal
Care
Products
—
0.3%
Beauty
Health
Co.
(The)
,
Class
A
(a)
(b)
........
2,706,213
5,168,867‌
Edgewell
Personal
Care
Co.
.............
1,181,924
27,668,841‌
FitLife
Brands,
Inc.
(a)
(b)
..................
48,682
633,840‌
Herbalife
Ltd.
(a)
(b)
.....................
2,519,919
21,721,702‌
Honest
Co.,
Inc.
(The)
(a)
(b)
...............
2,343,704
11,929,453‌
Interparfums,
Inc.
.....................
457,884
60,124,748‌
Lifevantage
Corp.
(b)
...................
183,773
2,403,751‌
Medifast,
Inc.
(a)
......................
281,758
3,958,700‌
Nature's
Sunshine
Products,
Inc.
(a)
(b)
........
348,303
5,151,401‌
Nu
Skin
Enterprises,
Inc.
,
Class
A
..........
1,233,981
9,859,508‌
Olaplex
Holdings,
Inc.
(a)
(b)
...............
3,467,798
4,854,917‌
USANA
Health
Sciences,
Inc.
(a)
...........
283,251
8,647,653‌
Waldencast
plc
,
Class
A
(a)
(b)
..............
809,993
1,984,483‌
164,107,864‌
Pharmaceuticals
—
1.6%
Aardvark
Therapeutics,
Inc.
(a)
.............
77,052
1,041,743‌
Aclaris
Therapeutics,
Inc.
(a)
(b)
.............
1,904,258
2,704,046‌
Alto
Neuroscience,
Inc.
(a)
................
95,655
210,441‌
Alumis,
Inc.
(a)
(b)
......................
1,384,538
4,153,614‌
Amneal
Pharmaceuticals,
Inc.
,
Class
A
(a)
.....
3,813,223
30,848,974‌
Amphastar
Pharmaceuticals,
Inc.
(a)
(b)
........
937,978
21,535,975‌
Amylyx
Pharmaceuticals,
Inc.
(a)
...........
1,549,841
9,934,481‌
ANI
Pharmaceuticals,
Inc.
(a)
..............
453,908
29,617,497‌
Aquestive
Therapeutics,
Inc.
(a)
(b)
...........
2,128,792
7,046,302‌
Arvinas,
Inc.
(a)
(b)
......................
1,637,192
12,049,733‌
Atea
Pharmaceuticals,
Inc.
(a)
(b)
............
1,876,137
6,754,093‌
Avadel
Pharmaceuticals
plc
,
ADR
(a)
(b)
.......
2,243,484
19,854,833‌
Axsome
Therapeutics,
Inc.
(a)
(b)
............
1,011,534
105,594,034‌
Security
Shares
Shares
Value
Pharmaceuticals
(continued)
BioAge
Labs,
Inc.
(a)
...................
561,096
$
2,317,327‌
Biote
Corp.
,
Class
A
(a)
(b)
.................
703,066
2,826,325‌
Cassava
Sciences,
Inc.
(a)
(b)
..............
67,581
122,322‌
Collegium
Pharmaceutical,
Inc.
(a)
(b)
.........
801,241
23,692,696‌
Corcept
Therapeutics,
Inc.
(a)
.............
62,300
4,572,820‌
CorMedix,
Inc.
(a)
(b)
....................
1,608,369
19,815,106‌
Edgewise
Therapeutics,
Inc.
(a)
(b)
...........
1,825,563
23,933,131‌
Enliven
Therapeutics,
Inc.
(a)
(b)
.............
813,582
16,320,455‌
Esperion
Therapeutics,
Inc.
(a)
(b)
............
4,852,931
4,777,225‌
Eton
Pharmaceuticals,
Inc.
(a)
(b)
............
575,352
8,198,766‌
Evolus,
Inc.
(a)
(b)
......................
1,345,860
12,395,371‌
EyePoint
Pharmaceuticals,
Inc.
(a)
(b)
.........
1,554,423
14,627,120‌
Fulcrum
Therapeutics,
Inc.
(a)
(b)
............
1,375,222
9,461,527‌
Harmony
Biosciences
Holdings,
Inc.
(a)
.......
1,092,409
34,520,124‌
Harrow,
Inc.
(a)
(b)
......................
787,172
24,040,233‌
Indivior
plc
(a)
(b)
.......................
2,695,440
39,730,786‌
Innoviva,
Inc.
(a)
(b)
.....................
1,559,978
31,339,958‌
Journey
Medical
Corp.
(a)
(b)
...............
220,984
1,586,665‌
LENZ
Therapeutics,
Inc.
(a)
(b)
..............
443,914
13,011,119‌
Ligand
Pharmaceuticals,
Inc.
(a)
(b)
...........
476,494
54,167,838‌
Liquidia
Corp.
(a)
(b)
.....................
1,609,718
20,057,086‌
Maze
Therapeutics,
Inc.
(a)
(b)
..............
234,416
2,876,284‌
MBX
Biosciences,
Inc.
(a)
(b)
...............
386,938
4,414,963‌
MediWound
Ltd.
(a)
(b)
...................
211,742
4,101,443‌
Mind
Medicine
MindMed,
Inc.
(a)
(b)
..........
1,886,354
12,242,438‌
Nektar
Therapeutics
(a)
..................
22,834
590,031‌
Neumora
Therapeutics,
Inc.
(a)
.............
488,966
358,559‌
Nuvation
Bio,
Inc.
,
Class
A
(a)
(b)
............
6,210,732
12,110,927‌
Ocular
Therapeutix,
Inc.
(a)
(b)
..............
3,525,665
32,718,171‌
Omeros
Corp.
(a)
(b)
.....................
1,384,555
4,153,665‌
Pacira
BioSciences,
Inc.
(a)
(b)
..............
1,150,565
27,498,504‌
Phathom
Pharmaceuticals,
Inc.
(a)
(b)
.........
1,048,952
10,059,450‌
Phibro
Animal
Health
Corp.
,
Class
A
........
516,716
13,196,927‌
Pliant
Therapeutics,
Inc.
(a)
...............
359,209
416,682‌
Prestige
Consumer
Healthcare,
Inc.
(a)
.......
1,237,912
98,847,273‌
Rapport
Therapeutics,
Inc.
(a)
(b)
............
433,284
4,926,439‌
Scilex
Holding
Co.
(a)
...................
40,870
240,724‌
scPharmaceuticals,
Inc.
(a)
(b)
..............
887,245
3,380,403‌
Septerna,
Inc.
(a)
(b)
.....................
528,227
5,583,359‌
SIGA
Technologies,
Inc.
................
1,056,845
6,890,629‌
Supernus
Pharmaceuticals,
Inc.
(a)
(b)
.........
1,347,621
42,477,014‌
Tarsus
Pharmaceuticals,
Inc.
(a)
(b)
...........
969,521
39,275,296‌
Telomir
Pharmaceuticals,
Inc.
(a)
...........
38,096
47,620‌
Terns
Pharmaceuticals,
Inc.
(a)
(b)
...........
1,802,171
6,722,098‌
Theravance
Biopharma,
Inc.
(a)
(b)
...........
942,737
10,398,389‌
Third
Harmonic
Bio,
Inc.
(a)
(b)
..............
632,873
3,436,500‌
Trevi
Therapeutics,
Inc.
(a)
(b)
..............
1,918,023
10,491,586‌
Tvardi
Therapeutics,
Inc.
(a)
(b)
.............
80,499
1,878,042‌
Ventyx
Biosciences,
Inc.
(a)
...............
133,706
286,131‌
Veru,
Inc.
(a)
.........................
245,227
142,673‌
WaVe
Life
Sciences
Ltd.
(a)
(b)
..............
2,792,827
18,153,376‌
Xeris
Biopharma
Holdings,
Inc.
(a)
(b)
.........
3,763,854
17,577,198‌
Zevra
Therapeutics,
Inc.
(a)
(b)
..............
1,374,491
12,109,266‌
1,020,461,826‌
Professional
Services
—
2.1%
Acuren
Corp.
(a)
(b)
.....................
2,444,720
26,989,709‌
Alight,
Inc.
,
Class
A
...................
10,780,027
61,014,953‌
Asure
Software,
Inc.
(a)
(b)
.................
622,348
6,074,116‌
Barrett
Business
Services,
Inc.
............
624,779
26,047,036‌
BlackSky
Technology,
Inc.
(a)
(b)
.............
701,890
14,444,896‌
CBIZ,
Inc.
(a)
(b)
........................
1,303,414
93,467,818‌
Conduent,
Inc.
(a)
.....................
3,909,261
10,320,449‌
CRA
International,
Inc.
.................
164,407
30,804,940‌
CSG
Systems
International,
Inc.
...........
712,927
46,561,262‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
16
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Professional
Services
(continued)
ExlService
Holdings,
Inc.
(a)
..............
137,648
$
6,027,606‌
Exponent,
Inc.
.......................
1,258,812
94,045,844‌
First
Advantage
Corp.
(a)
(b)
...............
1,968,097
32,690,091‌
FiscalNote
Holdings,
Inc.
,
Class
A
(a)
(b)
.......
140,516
75,373‌
Forrester
Research,
Inc.
(a)
(b)
..............
297,338
2,943,646‌
Franklin
Covey
Co.
(a)
(b)
.................
270,002
6,161,446‌
Heidrick
&
Struggles
International,
Inc.
......
511,799
23,419,922‌
HireQuest,
Inc.
......................
108,018
1,081,260‌
Huron
Consulting
Group,
Inc.
(a)
(b)
..........
427,342
58,776,619‌
IBEX
Holdings
Ltd.
(a)
...................
257,747
7,500,438‌
ICF
International,
Inc.
..................
459,125
38,892,479‌
Innodata,
Inc.
(a)
(b)
.....................
758,912
38,871,473‌
Insperity,
Inc.
........................
899,454
54,075,174‌
Kelly
Services,
Inc.
,
Class
A,
NVS
.........
779,760
9,130,990‌
Kforce,
Inc.
.........................
449,752
18,498,300‌
Korn
Ferry
.........................
1,291,548
94,709,215‌
Legalzoom.com,
Inc.
(a)
.................
2,785,145
24,815,642‌
Maximus,
Inc.
.......................
1,412,974
99,190,775‌
Mistras
Group,
Inc.
(a)
..................
436,166
3,493,690‌
NV5
Global,
Inc.
(a)
....................
1,450,899
33,501,258‌
Planet
Labs
PBC
,
Class
A
(a)
(b)
.............
5,377,568
32,803,165‌
RCM
Technologies,
Inc.
(a)
...............
82,777
1,951,054‌
Resolute
Holdings
Management,
Inc.
(a)
(b)
.....
89,243
2,844,174‌
Resources
Connection,
Inc.
..............
858,992
4,612,787‌
Skillsoft
Corp.
,
Class
A
(a)
................
83,515
1,333,734‌
Spire
Global,
Inc.
,
Class
A
(a)
(b)
............
686,799
8,172,908‌
TriNet
Group,
Inc.
....................
750,464
54,888,937‌
TrueBlue,
Inc.
(a)
(b)
.....................
755,532
4,895,847‌
TTEC
Holdings,
Inc.
(a)
..................
548,880
2,640,113‌
Upwork,
Inc.
(a)
(b)
......................
3,119,059
41,920,153‌
Verra
Mobility
Corp.
,
Class
A
(a)
............
4,007,966
101,762,257‌
Willdan
Group,
Inc.
(a)
..................
347,519
21,723,413‌
WNS
Holdings
Ltd.
(a)
(b)
.................
1,014,659
64,167,035‌
1,307,341,997‌
Real
Estate
Management
&
Development
—
0.5%
American
Realty
Investors,
Inc.
(a)
..........
31,249
441,236‌
Anywhere
Real
Estate,
Inc.
(a)
.............
2,669,959
9,665,252‌
Compass,
Inc.
,
Class
A
(a)
................
11,408,955
71,648,237‌
Cushman
&
Wakefield
plc
(a)
..............
3,370,926
37,316,151‌
Douglas
Elliman,
Inc.
(a)
(b)
................
1,677,919
3,892,772‌
eXp
World
Holdings,
Inc.
(b)
...............
2,003,556
18,232,360‌
Forestar
Group,
Inc.
(a)
..................
483,184
9,663,680‌
FRP
Holdings,
Inc.
(a)
(b)
..................
294,253
7,912,463‌
Kennedy-Wilson
Holdings,
Inc.
............
3,016,483
20,512,084‌
Marcus
&
Millichap,
Inc.
................
615,839
18,912,416‌
Maui
Land
&
Pineapple
Co.,
Inc.
(a)
(b)
........
179,070
3,257,283‌
Newmark
Group,
Inc.
,
Class
A
............
3,463,374
42,079,994‌
Offerpad
Solutions,
Inc.
,
Class
A
(a)
(b)
........
34,967
31,820‌
RE/MAX
Holdings,
Inc.
,
Class
A
(a)
..........
475,297
3,887,929‌
Real
Brokerage,
Inc.
(The)
(a)
(b)
............
2,674,299
12,061,088‌
RMR
Group,
Inc.
(The)
,
Class
A
...........
411,200
6,723,120‌
Seaport
Entertainment
Group,
Inc.
(a)
........
151,710
2,829,392‌
St.
Joe
Co.
(The)
.....................
955,006
45,553,786‌
Star
Holdings
(a)
......................
63,178
493,420‌
Stratus
Properties,
Inc.
(a)
................
150,185
2,835,493‌
Tejon
Ranch
Co.
(a)
(b)
...................
528,885
8,969,890‌
Transcontinental
Realty
Investors,
Inc.
(a)
.....
33,974
1,447,632‌
328,367,498‌
Residential
REITs
—
0.4%
Apartment
Investment
&
Management
Co.
,
Class
A
.............................
3,391,118
29,333,171‌
BRT
Apartments
Corp.
.................
299,790
4,688,716‌
Centerspace
........................
421,880
25,392,957‌
Security
Shares
Shares
Value
Residential
REITs
(continued)
Clipper
Realty,
Inc.
....................
331,817
$
1,217,768‌
Elme
Communities
....................
2,228,304
35,430,034‌
Independence
Realty
Trust,
Inc.
...........
5,828,431
103,104,944‌
NexPoint
Residential
Trust,
Inc.
...........
567,370
18,904,768‌
UMH
Properties,
Inc.
..................
1,952,492
32,782,341‌
Veris
Residential,
Inc.
..................
2,039,353
30,365,966‌
281,220,665‌
Retail
REITs
—
1.3%
Acadia
Realty
Trust
(b)
..................
3,357,311
62,345,265‌
Alexander's,
Inc.
.....................
54,683
12,321,174‌
CBL
&
Associates
Properties,
Inc.
..........
507,081
12,874,787‌
Curbline
Properties
Corp.
...............
2,443,304
55,780,630‌
FrontView
REIT,
Inc.
...................
431,279
5,175,348‌
Getty
Realty
Corp.
....................
1,299,362
35,914,366‌
InvenTrust
Properties
Corp.
..............
2,010,912
55,098,989‌
Kite
Realty
Group
Trust
.................
5,579,420
126,373,863‌
Macerich
Co.
(The)
...................
6,381,944
103,259,854‌
NETSTREIT
Corp.
....................
2,038,678
34,514,818‌
Phillips
Edison
&
Co.,
Inc.
...............
3,177,863
111,320,541‌
Saul
Centers,
Inc.
....................
280,011
9,559,575‌
SITE
Centers
Corp.
...................
1,269,816
14,361,619‌
Tanger,
Inc.
.........................
2,810,891
85,957,047‌
Urban
Edge
Properties
.................
3,164,651
59,052,388‌
Whitestone
REIT
.....................
1,208,559
15,082,816‌
798,993,080‌
Semiconductors
&
Semiconductor
Equipment
—
2.8%
ACM
Research,
Inc.
,
Class
A
(a)
(b)
...........
1,264,579
32,752,596‌
Aehr
Test
Systems
(a)
(b)
..................
709,532
9,174,249‌
Aeluma,
Inc.
(a)
.......................
172,944
2,831,093‌
Alpha
&
Omega
Semiconductor
Ltd.
(a)
(b)
......
618,455
15,869,555‌
Ambarella,
Inc.
(a)
(b)
....................
1,017,803
67,241,155‌
Atomera,
Inc.
(a)
(b)
.....................
652,399
3,288,091‌
Axcelis
Technologies,
Inc.
(a)
(b)
.............
809,761
56,432,244‌
CEVA,
Inc.
(a)
(b)
.......................
589,686
12,961,298‌
Cohu,
Inc.
(a)
(b)
.......................
1,143,984
22,010,252‌
Credo
Technology
Group
Holding
Ltd.
(a)
......
3,658,857
338,773,570‌
Diodes,
Inc.
(a)
.......................
1,151,173
60,885,540‌
Everspin
Technologies,
Inc.
(a)
.............
104,621
658,066‌
FormFactor,
Inc.
(a)
....................
1,943,676
66,881,891‌
Ichor
Holdings
Ltd.
(a)
...................
851,263
16,718,805‌
Impinj,
Inc.
(a)
(b)
.......................
648,503
72,029,228‌
indie
Semiconductor,
Inc.
,
Class
A
(a)
(b)
.......
4,806,072
17,109,616‌
Kopin
Corp.
(a)
.......................
3,552,377
5,435,137‌
Kulicke
&
Soffa
Industries,
Inc.
............
1,309,601
45,312,195‌
MaxLinear,
Inc.
(a)
.....................
2,037,064
28,946,680‌
Navitas
Semiconductor
Corp.
(a)
(b)
..........
3,343,584
21,900,475‌
NVE
Corp.
.........................
115,414
8,495,625‌
PDF
Solutions,
Inc.
(a)
..................
774,921
16,567,811‌
Penguin
Solutions,
Inc.
(a)
(b)
...............
1,360,092
26,943,423‌
Photronics,
Inc.
(a)
(b)
....................
1,551,340
29,211,732‌
Power
Integrations,
Inc.
(b)
...............
1,407,453
78,676,623‌
QuickLogic
Corp.
(a)
....................
70,502
434,292‌
Rambus,
Inc.
(a)
(b)
.....................
2,701,459
172,947,405‌
Rigetti
Computing,
Inc.
(a)
(b)
...............
7,067,147
83,816,363‌
Semtech
Corp.
(a)
(b)
....................
2,176,311
98,238,679‌
Silicon
Laboratories,
Inc.
(a)
(b)
..............
807,074
118,930,425‌
SiTime
Corp.
(a)
(b)
.....................
526,888
112,269,295‌
SkyWater
Technology,
Inc.
(a)
(b)
............
653,675
6,432,162‌
Synaptics,
Inc.
(a)
(b)
....................
978,022
63,395,386‌
Ultra
Clean
Holdings,
Inc.
(a)
..............
1,117,534
25,222,742‌
Veeco
Instruments,
Inc.
(a)
(b)
..............
1,421,500
28,884,880‌
Wolfspeed,
Inc.
(a)
(b)
....................
3,879,031
1,546,958‌
1,769,225,537‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
17
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Software
—
6.5%
8x8,
Inc.
(a)
(b)
.........................
3,224,035
$
6,319,109‌
A10
Networks,
Inc.
....................
1,819,394
35,205,274‌
ACI
Worldwide,
Inc.
(a)
..................
2,647,615
121,552,005‌
Adeia,
Inc.
.........................
2,736,578
38,695,213‌
Agilysys,
Inc.
(a)
(b)
.....................
645,408
73,989,573‌
Airship
AI
Holdings,
Inc.
(a)
(b)
..............
497,121
2,928,043‌
Alarm.com
Holdings,
Inc.
(a)
..............
1,181,591
66,842,603‌
Alkami
Technology,
Inc.
(a)
(b)
..............
1,703,114
51,331,856‌
Amplitude,
Inc.
,
Class
A
(a)
(b)
..............
2,182,337
27,060,979‌
Appian
Corp.
,
Class
A
(a)
(b)
...............
996,864
29,766,359‌
Arteris,
Inc.
(a)
(b)
.......................
696,926
6,641,705‌
Asana,
Inc.
,
Class
A
(a)
(b)
.................
2,340,023
31,590,311‌
AudioEye,
Inc.
(a)
(b)
....................
205,810
2,397,687‌
AvePoint,
Inc.
,
Class
A
(a)
(b)
...............
3,337,609
64,449,230‌
Bit
Digital,
Inc.
(a)
(b)
.....................
4,581,842
10,034,234‌
Bitdeer
Technologies
Group
,
Class
A
(a)
......
2,025,314
23,250,605‌
Blackbaud,
Inc.
(a)
.....................
958,297
61,532,250‌
BlackLine,
Inc.
(a)
(b)
....................
1,319,518
74,711,109‌
Blend
Labs,
Inc.
,
Class
A
(a)
..............
5,334,706
17,604,530‌
Box,
Inc.
,
Class
A
(a)
(b)
..................
3,503,654
119,719,857‌
Braze,
Inc.
,
Class
A
(a)
(b)
.................
1,907,591
53,603,307‌
C3.ai,
Inc.
,
Class
A
(a)
(b)
.................
3,026,004
74,348,918‌
Cerence,
Inc.
(a)
(b)
.....................
1,100,401
11,235,094‌
Cipher
Mining,
Inc.
(a)
(b)
..................
6,639,914
31,738,789‌
Cleanspark,
Inc.
(a)
(b)
...................
6,940,204
76,550,450‌
Clear
Secure,
Inc.
,
Class
A
..............
2,090,796
58,040,497‌
Clearwater
Analytics
Holdings,
Inc.
,
Class
A
(a)
(b)
.
6,150,242
134,874,807‌
Commvault
Systems,
Inc.
(a)
..............
1,104,755
192,591,939‌
Consensus
Cloud
Solutions,
Inc.
(a)
(b)
........
488,613
11,267,416‌
Core
Scientific,
Inc.
(a)
(b)
.................
6,894,304
117,685,769‌
CoreCard
Corp.
(a)
.....................
104,747
3,034,521‌
CS
Disco,
Inc.
(a)
......................
722,241
3,156,193‌
Daily
Journal
Corp.
(a)
(b)
.................
31,658
13,367,590‌
Digimarc
Corp.
(a)
(b)
....................
401,876
5,308,782‌
Digital
Turbine,
Inc.
(a)
(b)
.................
2,564,815
15,132,409‌
Domo,
Inc.
,
Class
B
(a)
(b)
.................
859,726
12,010,372‌
D-Wave
Quantum,
Inc.
(a)
(b)
...............
7,193,719
105,316,046‌
E2open
Parent
Holdings,
Inc.
,
Class
A
(a)
.....
4,609,210
14,887,748‌
eGain
Corp.
(a)
(b)
......................
439,894
2,749,337‌
EverCommerce,
Inc.
(a)
(b)
................
440,632
4,626,636‌
Expensify,
Inc.
,
Class
A
(a)
...............
1,325,085
3,431,970‌
Five9,
Inc.
(a)
........................
1,873,574
49,612,240‌
Freshworks,
Inc.
,
Class
A
(a)
(b)
.............
5,121,759
76,365,427‌
Hut
8
Corp.
(a)
(b)
......................
2,363,710
43,965,006‌
I3
Verticals,
Inc.
,
Class
A
(a)
(b)
.............
582,284
16,001,164‌
Intapp,
Inc.
(a)
(b)
.......................
1,390,766
71,791,341‌
InterDigital,
Inc.
......................
647,097
145,098,560‌
Jamf
Holding
Corp.
(a)
..................
1,743,124
16,577,109‌
Kaltura,
Inc.
(a)
(b)
......................
2,268,453
4,559,591‌
Life360,
Inc.
(a)
(b)
......................
404,900
26,419,725‌
LiveRamp
Holdings,
Inc.
(a)
(b)
..............
1,613,054
53,295,304‌
MARA
Holdings,
Inc.
(a)
(b)
................
8,672,439
135,983,844‌
Mercurity
Fintech
Holding,
Inc.
(a)
(b)
..........
621,727
2,393,649‌
Meridianlink,
Inc.
(a)
(b)
...................
825,719
13,401,419‌
Mitek
Systems,
Inc.
(a)
(b)
.................
1,119,467
11,082,723‌
N-able,
Inc.
(a)
........................
1,812,775
14,683,478‌
NCR
Voyix
Corp.
(a)
(b)
...................
3,598,794
42,213,854‌
NextNav,
Inc.
(a)
(b)
.....................
2,196,452
33,386,070‌
Olo,
Inc.
,
Class
A
(a)
(b)
...................
2,903,593
25,841,978‌
ON24,
Inc.
(a)
(b)
.......................
847,001
4,599,215‌
OneSpan,
Inc.
.......................
929,979
15,521,350‌
Ooma,
Inc.
(a)
........................
635,758
8,201,278‌
Pagaya
Technologies
Ltd.
,
Class
A
(a)
(b)
.......
1,053,421
22,458,936‌
PagerDuty,
Inc.
(a)
(b)
....................
2,121,647
32,418,766‌
Porch
Group,
Inc.
(a)
(b)
..................
2,024,947
23,874,125‌
Security
Shares
Shares
Value
Software
(continued)
Progress
Software
Corp.
................
1,065,178
$
68,000,964‌
PROS
Holdings,
Inc.
(a)
(b)
................
1,106,947
17,334,790‌
Q2
Holdings,
Inc.
(a)
(b)
...................
1,558,153
145,827,539‌
Qualys,
Inc.
(a)
.......................
911,101
130,169,000‌
Rapid7,
Inc.
(a)
.......................
1,589,101
36,755,906‌
Red
Violet,
Inc.
......................
286,680
14,104,656‌
Rekor
Systems,
Inc.
(a)
..................
112,682
130,711‌
ReposiTrak,
Inc.
(b)
....................
277,702
5,456,844‌
Rezolve
AI
plc
(a)
......................
2,267,437
6,972,369‌
Rimini
Street,
Inc.
(a)
...................
1,284,803
4,843,707‌
Riot
Platforms,
Inc.
(a)
(b)
.................
8,267,001
93,417,111‌
Roadzen,
Inc.
(a)
(b)
.....................
183,477
179,807‌
Sapiens
International
Corp.
NV
...........
772,799
22,604,371‌
SEMrush
Holdings,
Inc.
,
Class
A
(a)
(b)
........
1,140,022
10,317,199‌
Silvaco
Group,
Inc.
(a)
(b)
.................
149,973
707,873‌
SoundHound
AI,
Inc.
,
Class
A
(a)
(b)
..........
9,160,814
98,295,534‌
SoundThinking,
Inc.
(a)
..................
233,660
3,050,431‌
Sprinklr,
Inc.
,
Class
A
(a)
.................
2,768,063
23,417,813‌
Sprout
Social,
Inc.
,
Class
A
(a)
(b)
............
1,292,891
27,034,351‌
SPS
Commerce,
Inc.
(a)
(b)
................
949,623
129,234,194‌
Synchronoss
Technologies,
Inc.
(a)
(b)
.........
197,811
1,355,005‌
Telos
Corp.
(a)
........................
1,495,730
4,741,464‌
Tenable
Holdings,
Inc.
(a)
................
2,983,741
100,790,771‌
Terawulf,
Inc.
(a)
(b)
.....................
6,708,247
29,382,122‌
Varonis
Systems,
Inc.
(a)
(b)
................
2,759,574
140,048,381‌
Verint
Systems,
Inc.
(a)
(b)
.................
1,567,047
30,823,814‌
Vertex,
Inc.
,
Class
A
(a)
(b)
.................
1,623,243
57,357,291‌
Viant
Technology,
Inc.
,
Class
A
(a)
(b)
.........
411,347
5,442,121‌
Weave
Communications,
Inc.
(a)
...........
1,459,720
12,144,870‌
WM
Technology,
Inc.
,
Class
A
(a)
...........
2,051,753
1,838,371‌
Workiva,
Inc.
,
Class
A
(a)
(b)
...............
1,257,240
86,058,078‌
Xperi,
Inc.
(a)
(b)
.......................
1,125,588
8,903,401‌
Yext,
Inc.
(a)
(b)
........................
2,592,742
22,038,307‌
Zeta
Global
Holdings
Corp.
,
Class
A
(a)
(b)
......
4,698,836
72,784,970‌
4,111,891,410‌
Specialized
REITs
—
0.5%
Farmland
Partners,
Inc.
................
1,081,560
12,448,755‌
Four
Corners
Property
Trust,
Inc.
..........
2,529,713
68,074,577‌
Gladstone
Land
Corp.
.................
826,382
8,404,305‌
Outfront
Media,
Inc.
...................
3,580,087
58,427,020‌
PotlatchDeltic
Corp.
...................
1,968,194
75,519,604‌
Safehold,
Inc.
(b)
......................
1,418,330
22,069,215‌
Smartstop
Self
Storage
REIT,
Inc.
..........
692,939
25,105,180‌
Uniti
Group,
Inc.
(a)
....................
6,022,611
26,017,679‌
296,066,335‌
Specialty
Retail
—
2.3%
1-800-Flowers.com,
Inc.
,
Class
A
(a)
(b)
........
567,135
2,790,304‌
Abercrombie
&
Fitch
Co.
,
Class
A
(a)
(b)
........
1,178,691
97,654,549‌
Academy
Sports
&
Outdoors,
Inc.
(b)
.........
1,662,290
74,487,215‌
Advance
Auto
Parts,
Inc.
................
1,495,771
69,538,394‌
American
Eagle
Outfitters,
Inc.
............
4,110,022
39,538,412‌
America's
Car-Mart,
Inc.
(a)
(b)
..............
186,258
10,437,898‌
Arhaus,
Inc.
,
Class
A
(a)
.................
1,283,152
11,124,928‌
Arko
Corp.
.........................
1,931,361
8,169,657‌
Asbury
Automotive
Group,
Inc.
(a)
(b)
..........
491,176
117,165,123‌
BARK,
Inc.
(a)
(b)
.......................
2,864,941
2,519,716‌
Barnes
&
Noble
Education,
Inc.
(a)
..........
361,417
4,253,878‌
Beyond,
Inc.
(a)
(b)
......................
1,374,435
9,456,113‌
Boot
Barn
Holdings,
Inc.
(a)
(b)
..............
768,626
116,831,152‌
Buckle,
Inc.
(The)
....................
787,564
35,716,027‌
Build-A-Bear
Workshop,
Inc.
.............
309,919
15,979,424‌
Caleres,
Inc.
........................
841,004
10,277,069‌
Camping
World
Holdings,
Inc.
,
Class
A
......
1,502,954
25,835,779‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
18
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Specialty
Retail
(continued)
Citi
Trends,
Inc.
(a)
(b)
....................
127,108
$
4,244,136‌
Designer
Brands,
Inc.
,
Class
A
............
941,750
2,241,365‌
EVgo,
Inc.
,
Class
A
(a)
(b)
.................
3,223,254
11,764,877‌
Foot
Locker,
Inc.
(a)
....................
2,139,887
52,427,231‌
Genesco,
Inc.
(a)
(b)
.....................
265,808
5,233,760‌
Group
1
Automotive,
Inc.
(b)
...............
316,346
138,151,462‌
GrowGeneration
Corp.
(a)
................
325,048
303,952‌
Haverty
Furniture
Cos.,
Inc.
..............
348,201
7,085,890‌
J
Jill,
Inc.
..........................
184,866
2,706,438‌
Lands'
End,
Inc.
(a)
(b)
...................
318,264
3,408,607‌
Leslie's,
Inc.
(a)
.......................
467,127
196,147‌
MarineMax,
Inc.
(a)
(b)
...................
483,545
12,156,321‌
Monro,
Inc.
.........................
741,290
11,052,634‌
National
Vision
Holdings,
Inc.
(a)
...........
1,952,588
44,929,050‌
ODP
Corp.
(The)
(a)
....................
706,210
12,803,587‌
OneWater
Marine,
Inc.
,
Class
A
(a)
(b)
.........
287,694
3,852,223‌
Petco
Health
&
Wellness
Co.,
Inc.
(a)
(b)
.......
2,011,943
5,693,799‌
RealReal,
Inc.
(The)
(a)
(b)
.................
2,416,601
11,575,519‌
Revolve
Group,
Inc.
,
Class
A
(a)
(b)
...........
1,012,053
20,291,663‌
Sally
Beauty
Holdings,
Inc.
(a)
(b)
............
2,578,012
23,872,391‌
Shoe
Carnival,
Inc.
....................
462,818
8,659,325‌
Signet
Jewelers
Ltd.
...................
1,043,376
83,000,561‌
Sleep
Number
Corp.
(a)
(b)
................
536,794
3,626,043‌
Sonic
Automotive,
Inc.
,
Class
A
...........
373,290
29,837,070‌
Stitch
Fix,
Inc.
,
Class
A
(a)
(b)
...............
2,684,605
9,933,039‌
ThredUp,
Inc.
,
Class
A
(a)
(b)
...............
2,293,674
17,179,618‌
Tile
Shop
Holdings,
Inc.
(a)
(b)
..............
666,565
4,239,353‌
Tilly's,
Inc.
,
Class
A
(a)
(b)
.................
78,355
108,130‌
Torrid
Holdings,
Inc.
(a)
(b)
.................
582,697
1,718,956‌
Upbound
Group,
Inc.
..................
1,318,287
33,089,004‌
Urban
Outfitters,
Inc.
(a)
(b)
................
1,583,147
114,841,483‌
Victoria's
Secret
&
Co.
(a)
(b)
...............
1,719,688
31,848,622‌
Warby
Parker,
Inc.
,
Class
A
(a)
(b)
............
2,461,499
53,980,673‌
Winmark
Corp.
......................
73,280
27,671,261‌
Zumiez,
Inc.
(a)
(b)
......................
383,107
5,079,999‌
1,450,579,827‌
Technology
Hardware,
Storage
&
Peripherals
—
0.6%
CompoSecure,
Inc.
,
Class
A
(a)
............
1,112,541
15,675,703‌
Corsair
Gaming,
Inc.
(a)
(b)
................
1,198,922
11,305,834‌
CPI
Card
Group,
Inc.
(a)
.................
149,159
3,538,051‌
Diebold
Nixdorf,
Inc.
(a)
(b)
.................
654,031
36,233,317‌
Eastman
Kodak
Co.
(a)
(b)
.................
1,672,310
9,448,552‌
Immersion
Corp.
.....................
758,751
5,978,958‌
IonQ,
Inc.
(a)
(b)
........................
5,925,413
254,614,997‌
Quantum
Computing,
Inc.
(a)
..............
2,156,298
41,336,233‌
Turtle
Beach
Corp.
(a)
(b)
..................
409,657
5,665,556‌
Xerox
Holdings
Corp.
..................
2,999,538
15,807,565‌
399,604,766‌
Textiles,
Apparel
&
Luxury
Goods
—
0.6%
Capri
Holdings
Ltd.
(a)
(b)
.................
2,891,693
51,182,966‌
Carter's,
Inc.
........................
882,908
26,602,018‌
Ermenegildo
Zegna
NV
(b)
...............
1,490,964
12,747,742‌
Figs,
Inc.
,
Class
A
(a)
(b)
..................
2,249,880
12,689,323‌
G-III
Apparel
Group
Ltd.
(a)
(b)
..............
988,293
22,137,763‌
Hanesbrands,
Inc.
(a)
(b)
..................
8,852,494
40,544,423‌
Kontoor
Brands,
Inc.
...................
1,378,986
90,971,706‌
Lakeland
Industries,
Inc.
................
202,573
2,757,019‌
Movado
Group,
Inc.
...................
400,842
6,112,840‌
Oxford
Industries,
Inc.
.................
358,635
14,435,059‌
Rocky
Brands,
Inc.
....................
176,689
3,920,729‌
Steven
Madden
Ltd.
...................
1,746,164
41,873,013‌
Superior
Group
of
Cos.,
Inc.
.............
323,887
3,336,036‌
Vera
Bradley,
Inc.
(a)
...................
30,295
66,952‌
Security
Shares
Shares
Value
Textiles,
Apparel
&
Luxury
Goods
(continued)
Wolverine
World
Wide,
Inc.
..............
2,018,959
$
36,502,779‌
365,880,368‌
Tobacco
—
0.1%
Ispire
Technology,
Inc.
(a)
(b)
...............
456,737
1,169,247‌
Turning
Point
Brands,
Inc.
(b)
..............
431,539
32,697,710‌
Universal
Corp.
......................
609,823
35,516,091‌
69,383,048‌
Trading
Companies
&
Distributors
—
1.4%
Alta
Equipment
Group,
Inc.
,
Class
A
........
544,528
3,441,417‌
BlueLinx
Holdings,
Inc.
(a)
................
201,205
14,965,628‌
Boise
Cascade
Co.
...................
956,596
83,051,665‌
Custom
Truck
One
Source,
Inc.
(a)
(b)
.........
1,477,793
7,300,297‌
Distribution
Solutions
Group,
Inc.
(a)
(b)
........
242,822
6,670,320‌
DNOW,
Inc.
(a)
.......................
2,694,831
39,964,344‌
DXP
Enterprises,
Inc.
(a)
.................
325,790
28,555,493‌
EVI
Industries,
Inc.
....................
124,730
2,722,856‌
FTAI
Aviation
Ltd.
.....................
275,916
31,741,377‌
GATX
Corp.
........................
894,104
137,298,610‌
Global
Industrial
Co.
...................
351,262
9,487,587‌
GMS,
Inc.
(a)
(b)
........................
963,681
104,800,309‌
Herc
Holdings,
Inc.
....................
816,709
107,552,408‌
Hudson
Technologies,
Inc.
(a)
.............
1,000,117
8,120,950‌
Karat
Packaging,
Inc.
..................
168,908
4,756,449‌
McGrath
RentCorp
....................
609,008
70,620,568‌
MRC
Global,
Inc.
(a)
(b)
...................
2,156,118
29,560,378‌
NPK
International,
Inc.
(a)
................
2,032,217
17,294,167‌
Rush
Enterprises,
Inc.
,
Class
A
...........
1,559,269
80,317,946‌
Rush
Enterprises,
Inc.
,
Class
B
...........
232,474
12,200,236‌
Titan
Machinery,
Inc.
(a)
(b)
................
525,571
10,411,561‌
Transcat,
Inc.
(a)
(b)
.....................
228,365
19,630,255‌
Willis
Lease
Finance
Corp.
..............
89,745
12,813,791‌
Xometry,
Inc.
,
Class
A
(a)
(b)
...............
1,088,682
36,786,565‌
880,065,177‌
Transportation
Infrastructure
—
0.0%
Sky
Harbour
Group
Corp.
,
Class
A
(a)
(b)
.......
495,020
4,836,345‌
Water
Utilities
—
0.4%
American
States
Water
Co.
..............
955,399
73,240,887‌
Cadiz,
Inc.
(a)
(b)
.......................
1,317,121
3,938,192‌
California
Water
Service
Group
...........
1,488,017
67,675,013‌
Consolidated
Water
Co.
Ltd.
.............
372,233
11,174,435‌
Global
Water
Resources,
Inc.
.............
233,944
2,383,889‌
H2O
America
.......................
799,493
41,549,651‌
Middlesex
Water
Co.
..................
443,447
24,025,959‌
Pure
Cycle
Corp.
(a)
(b)
...................
489,271
5,244,985‌
York
Water
Co.
(The)
..................
333,635
10,542,866‌
239,775,877‌
Wireless
Telecommunication
Services
—
0.2%
Gogo,
Inc.
(a)
(b)
.......................
1,707,111
25,060,390‌
Spok
Holdings,
Inc.
...................
478,555
8,460,852‌
Telephone
&
Data
Systems,
Inc.
...........
2,457,620
87,442,120‌
120,963,362‌
Total
Common
Stocks
—
99
.8
%
(Cost:
$
86,985,457,743
)
............................
63,588,716,563‌
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
19
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Rights
Biotechnology
—
0.0%
(a)(d)
Contra
Aduro
Biotech
I,
CVR
(b)
...........
272,340
$
130,723‌
Contra
Chinook
Therape,
CVR
(b)
..........
1,316,575
210,652‌
Oncternal
Therapeutics,
Inc.,
CVR
(b)
........
13,273
13,605‌
Sanofi
Aatd,
Inc.,
CVR
.................
794,436
913,602‌
1,268,582‌
Total
Rights
—
0.0
%
(Cost:
$
541,605
)
.................................
1,268,582‌
Warrants
Health
Care
Equipment
&
Supplies
—
0.0
%
Pulse
Biosciences,
Inc.
(
1
Share
for
1
Warrant,
Expires
06/27/29
)
(a)
(b)
................
39,821
81,434‌
Oil,
Gas
&
Consumable
Fuels
—
0.0
%
Chord
Energy
Corp.
(
Issued/Exercisable
09/01/20
,
1
Share
for
1
Warrant,
Expires
09/01/25
,
Strike
Price
USD
133.70
)
(a)
(b)
....
46,322
30,109‌
Total
Warrants
—
0.0
%
(Cost:
$
3,782,609
)
...............................
111,543‌
Total
Long-Term
Investments
—
99.8%
(Cost:
$
86,989,781,957
)
............................
63,590,096,688‌
Short-Term
Securities
Money
Market
Funds
—
10.7%
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
4.47
%
(e)
(f)
(g)
.................
6,845,412,926
6,848,151,091‌
Total
Short-Term
Securities
—
10
.7
%
(Cost:
$
6,844,472,336
)
............................
6,848,151,091‌
Total
Investments
—
110
.5
%
(Cost:
$
93,834,254,293
)
............................
70,438,247,779‌
Liabilities
in
Excess
of
Other
Assets
—
(
10.5
)
%
............
(
6,720,391,814‌
)
Net
Assets
—
100.0%
...............................
$
63,717,855,965‌
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
this
security
is
on
loan.
(c)
This
security
may
be
resold
to
qualified
foreign
investors
and
foreign
institutional
buyers
under
Regulation
S
of
the
Securities
Act
of
1933.
(d)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
(e)
Affiliate
of
the
Fund.
(f)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
(g)
Annualized
7-day
yield
as
of
period
end.
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
20
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
..............
$
6,509,822,649
$
338,790,866
(a)
$
—
$
123,162
$
(
585,586
)
$
6,848,151,091
6,845,412,926
$
13,948,785
(b)
$
—
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
(c)
.............
95,917,690
—
(
95,917,690
)
(a)
—
—
—
—
1,157,573
—
$
123,162
$
(
585,586
)
$
6,848,151,091
$
15,106,358
$
—
—
—
(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.
(c)
As
of
period
end,
the
entity
is
no
longer
held.
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
....................................................
2,372
09/19/25
$
259,936
$
2,118,652
Schedule
of
Investments
(unaudited)
(continued)
June
30,
2025
iShares
®
Russell
2000
ETF
21
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
.........................................
$
63,588,716,555
$
—
$
8
$
63,588,716,563
Rights
................................................
—
—
1,268,582
1,268,582
Warrants
..............................................
30,109
81,434
—
111,543
Short-Term
Securities
Money
Market
Funds
......................................
6,848,151,091
—
—
6,848,151,091
$
70,436,897,755
$
81,434
$
1,268,590
$
70,438,247,779
Derivative
Financial
Instruments
(a)
Assets
Equity
contracts
...........................................
$
2,118,652
$
—
$
—
$
2,118,652
(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
ADR
American
Depositary
Receipts
CVR
Contingent
Value
Rights
NVS
Non-Voting
Shares
REIT
Real
Estate
Investment
Trust