Schedule

of

Investments

(unaudited)

December

31,

2025

iShares

®

Expanded

Tech

Sector

ETF

1

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Common

Stocks

Communications

Equipment

—

3.7%

ADTRAN

Holdings,

Inc.

(a)

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

38,848

$

337,589‌

Applied

Optoelectronics,

Inc.

(a)

(b)

...........

32,661

1,138,562‌

Arista

Networks,

Inc.

(a)

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

560,953

73,501,672‌

Aviat

Networks,

Inc.

(a)

(b)

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

5,926

126,698‌

BK

Technologies

Corp.

(a)

(b)

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

1,586

118,300‌

Calix,

Inc.

(a)

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

33,056

1,749,654‌

Ciena

Corp.

(a)

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

76,627

17,920,756‌

Cisco

Systems,

Inc.

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

2,140,740

164,901,202‌

Clearfield,

Inc.

(a)

(b)

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

7,001

204,079‌

CommScope

Holding

Co.,

Inc.

(a)

...........

118,536

2,149,058‌

Digi

International,

Inc.

(a)

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

19,699

852,770‌

Extreme

Networks,

Inc.

(a)

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

72,550

1,207,958‌

F5,

Inc.

(a)

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

31,337

7,999,083‌

Harmonic,

Inc.

(a)

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

61,161

604,882‌

Lumentum

Holdings,

Inc.

(a)

(b)

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

38,514

14,195,875‌

Motorola

Solutions,

Inc.

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

90,478

34,682,027‌

NETGEAR,

Inc.

(a)

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

15,898

389,978‌

NetScout

Systems,

Inc.

(a)

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

37,256

1,008,147‌

Ondas

Holdings,

Inc.

(a)

(b)

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

200,159

1,953,552‌

Ribbon

Communications,

Inc.

(a)

(b)

..........

53,078

152,865‌

Viasat,

Inc.

(a)

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

74,790

2,577,263‌

Viavi

Solutions,

Inc.

(a)

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

121,179

2,159,410‌

329,931,380‌

Electronic

Equipment,

Instruments

&

Components

—

3.9%

Advanced

Energy

Industries,

Inc.

..........

20,505

4,293,132‌

Amphenol

Corp.

,

Class

A

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

664,952

89,861,613‌

Arlo

Technologies,

Inc.

(a)

(b)

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

56,395

788,966‌

Arrow

Electronics,

Inc.

(a)

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

27,721

3,054,300‌

Avnet,

Inc.

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

44,179

2,124,126‌

Badger

Meter,

Inc.

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

16,012

2,792,653‌

Bel

Fuse,

Inc.

,

Class

A

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

865

131,307‌

Bel

Fuse,

Inc.

,

Class

B,

NVS

(b)

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

5,727

971,471‌

Belden,

Inc.

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

21,306

2,483,214‌

Benchmark

Electronics,

Inc.

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

19,587

837,540‌

CDW

Corp.

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

70,729

9,633,290‌

Celestica,

Inc.

(a)

(b)

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

62,495

18,474,147‌

Cognex

Corp.

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

91,049

3,275,943‌

Coherent

Corp.

(a)

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

85,369

15,756,556‌

Corning,

Inc.

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

423,834

37,110,905‌

Crane

NXT

Co.

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

27,122

1,276,632‌

CTS

Corp.

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

15,695

672,845‌

ePlus,

Inc.

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

14,673

1,286,822‌

Fabrinet

(a)

(b)

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

19,461

8,860,204‌

Flex

Ltd.

(a)

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

200,885

12,137,472‌

Insight

Enterprises,

Inc.

(a)

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

16,393

1,335,538‌

IPG

Photonics

Corp.

(a)

(b)

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

14,038

1,005,121‌

Itron,

Inc.

(a)

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

24,566

2,281,199‌

Jabil,

Inc.

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

58,034

13,232,913‌

Keysight

Technologies,

Inc.

(a)

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

93,357

18,969,209‌

Knowles

Corp.

(a)

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

45,980

985,351‌

Littelfuse,

Inc.

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

13,411

3,391,910‌

Mirion

Technologies,

Inc.

,

Class

A

(a)

(b)

.......

136,703

3,201,584‌

Napco

Security

Technologies,

Inc.

.........

20,197

842,215‌

nLight,

Inc.

(a)

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

27,587

1,034,788‌

Novanta,

Inc.

(a)

(b)

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

19,433

2,312,333‌

OSI

Systems,

Inc.

(a)

(b)

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

8,547

2,179,998‌

PC

Connection,

Inc.

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

5,993

346,156‌

Plexus

Corp.

(a)

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

14,523

2,134,881‌

Ralliant

Corp.

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

61,282

3,119,867‌

Rogers

Corp.

(a)

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

9,360

857,095‌

Sanmina

Corp.

(a)

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

29,698

4,456,779‌

TD

SYNNEX

Corp.

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

41,143

6,180,913‌

Security

Shares

Shares

Value

Electronic

Equipment,

Instruments

&

Components

(continued)

TE

Connectivity

plc

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

159,816

$

36,359,738‌

Teledyne

Technologies,

Inc.

(a)

(b)

...........

25,508

13,027,701‌

TTM

Technologies,

Inc.

(a)

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

56,133

3,873,177‌

Vishay

Intertechnology,

Inc.

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

68,763

996,376‌

Vontier

Corp.

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

78,827

2,930,788‌

Zebra

Technologies

Corp.

,

Class

A

(a)

........

27,519

6,682,163‌

347,560,931‌

Entertainment

—

3.3%

Electronic

Arts,

Inc.

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

121,936

24,915,183‌

Netflix,

Inc.

(a)

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

2,301,857

215,822,112‌

Playtika

Holding

Corp.

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

28,661

113,211‌

ROBLOX

Corp.

,

Class

A

(a)

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

355,741

28,825,693‌

Take-Two

Interactive

Software,

Inc.

(a)

........

94,356

24,157,967‌

293,834,166‌

Interactive

Media

&

Services

—

13.8%

Alphabet,

Inc.

,

Class

A

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

1,351,360

422,975,680‌

Alphabet,

Inc.

,

Class

C,

NVS

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

1,080,072

338,926,594‌

Cargurus,

Inc.

,

Class

A

(a)

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

44,129

1,692,347‌

Grindr,

Inc.

(a)

(b)

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

24,088

326,151‌

IAC,

Inc.

(a)

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

35,418

1,384,844‌

Match

Group,

Inc.

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

128,244

4,140,999‌

Meta

Platforms,

Inc.

,

Class

A

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

634,700

418,959,123‌

Pinterest,

Inc.

,

Class

A

(a)

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

323,676

8,379,972‌

Reddit,

Inc.

,

Class

A

(a)

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

68,957

15,851,146‌

Rumble,

Inc.

,

Class

A

(a)

(b)

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

57,179

361,371‌

Snap,

Inc.

,

Class

A,

NVS

(a)

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

615,477

4,966,899‌

TripAdvisor,

Inc.

(a)

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

65,775

957,684‌

Trump

Media

&

Technology

Group

Corp.

(a)

(b)

...

89,463

1,184,490‌

Yelp,

Inc.

(a)

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

31,733

964,366‌

Ziff

Davis,

Inc.

(a)

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

20,714

728,097‌

ZoomInfo

Technologies,

Inc.

(a)

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

147,581

1,500,899‌

1,223,300,662‌

IT

Services

—

6.3%

Accenture

plc

,

Class

A

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

336,880

90,384,904‌

Akamai

Technologies,

Inc.

(a)

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

78,152

6,818,762‌

Applied

Digital

Corp.

(a)

(b)

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

135,224

3,315,692‌

ASGN,

Inc.

(a)

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

22,705

1,093,700‌

BigBear.ai

Holdings,

Inc.

(a)

(b)

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

237,148

1,280,599‌

CGI,

Inc.

(b)

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

105,943

9,778,539‌

Cloudflare,

Inc.

,

Class

A

(a)

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

171,254

33,762,726‌

Cognizant

Technology

Solutions

Corp.

,

Class

A

.

262,194

21,762,102‌

CoreWeave,

Inc.

,

Class

A

(a)

(b)

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

123,841

8,868,254‌

DigitalOcean

Holdings,

Inc.

(a)

(b)

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

38,030

1,830,004‌

DXC

Technology

Co.

(a)

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

94,595

1,385,817‌

EPAM

Systems,

Inc.

(a)

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

30,011

6,148,654‌

Fastly,

Inc.

,

Class

A

(a)

(b)

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

77,994

793,979‌

Gartner,

Inc.

(a)

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

39,158

9,878,780‌

GoDaddy,

Inc.

,

Class

A

(a)

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

73,417

9,109,581‌

Grid

Dynamics

Holdings,

Inc.

,

Class

A

(a)

......

33,776

304,997‌

International

Business

Machines

Corp.

......

507,781

150,409,810‌

Kyndryl

Holdings,

Inc.

(a)

(b)

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

124,166

3,297,849‌

MongoDB,

Inc.

,

Class

A

(a)

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

44,194

18,547,780‌

Okta,

Inc.

(a)

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

91,514

7,913,215‌

Shopify,

Inc.

,

Class

A

(a)

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

664,313

106,934,464‌

Snowflake,

Inc.

,

Class

A

(a)

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

184,044

40,371,892‌

Twilio,

Inc.

,

Class

A

(a)

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

82,360

11,714,886‌

VeriSign,

Inc.

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

45,321

11,010,737‌

556,717,723‌

Semiconductors

&

Semiconductor

Equipment

—

31.1%

ACM

Research,

Inc.

,

Class

A

(a)

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

28,938

1,141,604‌

Advanced

Micro

Devices,

Inc.

(a)

...........

884,408

189,404,817‌

Allegro

MicroSystems,

Inc.

(a)

(b)

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

67,376

1,777,379‌

Schedule

of

Investments

(unaudited)

(continued)

December

31,

2025

iShares

®

Expanded

Tech

Sector

ETF

2

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Semiconductors

&

Semiconductor

Equipment

(continued)

Ambarella,

Inc.

(a)

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

21,721

$

1,538,716‌

Amkor

Technology,

Inc.

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

61,770

2,438,680‌

Analog

Devices,

Inc.

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

267,245

72,476,844‌

Applied

Materials,

Inc.

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

432,763

111,215,763‌

Astera

Labs,

Inc.

(a)

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

71,566

11,905,720‌

Axcelis

Technologies,

Inc.

(a)

(b)

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

17,096

1,373,493‌

Broadcom,

Inc.

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

1,887,361

653,215,642‌

Cirrus

Logic,

Inc.

(a)

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

27,719

3,284,702‌

Cohu,

Inc.

(a)

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

25,853

601,599‌

Credo

Technology

Group

Holding

Ltd.

(a)

......

82,697

11,899,271‌

Diodes,

Inc.

(a)

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

25,745

1,270,258‌

Enphase

Energy,

Inc.

(a)

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

70,724

2,266,704‌

Entegris,

Inc.

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

82,353

6,938,240‌

First

Solar,

Inc.

(a)

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

58,297

15,228,925‌

FormFactor,

Inc.

(a)

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

42,945

2,395,472‌

Impinj,

Inc.

(a)

(b)

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

14,443

2,513,226‌

Intel

Corp.

(a)

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

2,435,753

89,879,286‌

KLA

Corp.

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

71,376

86,727,550‌

Kulicke

&

Soffa

Industries,

Inc.

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

27,964

1,274,040‌

Lam

Research

Corp.

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

682,316

116,798,853‌

Lattice

Semiconductor

Corp.

(a)

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

74,305

5,467,362‌

MACOM

Technology

Solutions

Holdings,

Inc.

(a)

(b)

34,788

5,958,489‌

Marvell

Technology,

Inc.

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

468,322

39,798,004‌

MaxLinear,

Inc.

(a)

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

45,617

795,104‌

Microchip

Technology,

Inc.

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

293,586

18,707,300‌

Micron

Technology,

Inc.

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

609,759

174,031,316‌

MKS,

Inc.

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

36,491

5,831,262‌

Monolithic

Power

Systems,

Inc.

...........

26,025

23,588,019‌

Navitas

Semiconductor

Corp.

(a)

(b)

..........

107,334

766,365‌

NVIDIA

Corp.

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

4,241,062

790,958,063‌

NXP

Semiconductors

NV

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

136,719

29,676,226‌

ON

Semiconductor

Corp.

(a)

(b)

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

218,588

11,836,540‌

Onto

Innovation,

Inc.

(a)

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

26,621

4,202,391‌

Photronics,

Inc.

(a)

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

32,839

1,050,848‌

Power

Integrations,

Inc.

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

29,751

1,057,351‌

Qnity

Electronics,

Inc.

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

113,771

9,289,402‌

Qorvo,

Inc.

(a)

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

45,673

3,859,825‌

QUALCOMM,

Inc.

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

581,804

99,517,574‌

Rambus,

Inc.

(a)

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

58,481

5,373,819‌

Rigetti

Computing,

Inc.

(a)

(b)

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

180,482

3,997,676‌

Semtech

Corp.

(a)

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

46,679

3,439,776‌

Silicon

Laboratories,

Inc.

(a)

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

17,847

2,332,603‌

SiTime

Corp.

(a)

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

11,898

4,202,255‌

Skyworks

Solutions,

Inc.

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

80,768

5,121,499‌

SolarEdge

Technologies,

Inc.

(a)

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

32,237

930,037‌

Synaptics,

Inc.

(a)

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

21,007

1,554,938‌

Teradyne,

Inc.

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

85,074

16,466,923‌

Texas

Instruments,

Inc.

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

493,599

85,634,491‌

Ultra

Clean

Holdings,

Inc.

(a)

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

23,832

603,665‌

Universal

Display

Corp.

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

24,307

2,838,571‌

Veeco

Instruments,

Inc.

(a)

(b)

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

31,764

907,815‌

2,747,362,293‌

Software

—

27.2%

A10

Networks,

Inc.

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

39,855

705,035‌

ACI

Worldwide,

Inc.

(a)

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

55,619

2,659,144‌

Adeia,

Inc.

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

58,519

1,009,453‌

Adobe,

Inc.

(a)

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

227,397

79,586,676‌

Agilysys,

Inc.

(a)

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

14,131

1,679,328‌

Alarm.com

Holdings,

Inc.

(a)

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

26,921

1,373,509‌

Alkami

Technology,

Inc.

(a)

(b)

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

43,469

1,002,830‌

Appfolio,

Inc.

,

Class

A

(a)

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

12,590

2,929,063‌

Appian

Corp.

,

Class

A

(a)

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

22,754

805,947‌

AppLovin

Corp.

,

Class

A

(a)

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

147,042

99,079,840‌

Asana,

Inc.

,

Class

A

(a)

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

51,799

710,164‌

Security

Shares

Shares

Value

Software

(continued)

Atlassian

Corp.

,

Class

A

(a)

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

91,289

$

14,801,598‌

Aurora

Innovation,

Inc.

,

Class

A

(a)

(b)

.........

659,159

2,531,171‌

Autodesk,

Inc.

(a)

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

115,713

34,252,205‌

AvePoint,

Inc.

,

Class

A

(a)

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

76,803

1,066,794‌

Bentley

Systems,

Inc.

,

Class

B

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

80,826

3,084,724‌

BILL

Holdings,

Inc.

(a)

(b)

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

48,421

2,640,881‌

BitMine

Immersion

Technologies,

Inc.

(b)

......

154,682

4,199,616‌

Blackbaud,

Inc.

(a)

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

19,927

1,261,778‌

BlackBerry

Ltd.

(a)

(b)

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

295,145

1,118,600‌

BlackLine,

Inc.

(a)

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

27,143

1,500,736‌

Box,

Inc.

,

Class

A

(a)

(b)

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

79,964

2,391,723‌

Braze,

Inc.

,

Class

A

(a)

(b)

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

44,855

1,538,078‌

C3.ai,

Inc.

,

Class

A

(a)

(b)

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

63,567

856,883‌

Cadence

Design

Systems,

Inc.

(a)

..........

147,869

46,220,892‌

CCC

Intelligent

Solutions

Holdings,

Inc.

(a)

(b)

....

317,380

2,523,171‌

Cipher

Mining,

Inc.

(a)

(b)

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

156,070

2,303,593‌

Circle

Internet

Group,

Inc.

(a)

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

29,397

2,331,182‌

Cleanspark,

Inc.

(a)

(b)

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

151,639

1,534,587‌

Clear

Secure,

Inc.

,

Class

A

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

48,235

1,692,084‌

Clearwater

Analytics

Holdings,

Inc.

,

Class

A

(a)

(b)

.

156,332

3,770,728‌

Commvault

Systems,

Inc.

(a)

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

23,949

3,002,247‌

Confluent,

Inc.

,

Class

A

(a)

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

162,551

4,915,542‌

Core

Scientific,

Inc.

(a)

(b)

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

169,975

2,474,836‌

Crowdstrike

Holdings,

Inc.

,

Class

A

(a)

........

136,331

63,906,520‌

Datadog,

Inc.

,

Class

A

(a)

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

176,791

24,041,808‌

Descartes

Systems

Group,

Inc.

(The)

(a)

......

46,710

4,094,599‌

DocuSign,

Inc.

(a)

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

109,248

7,472,563‌

Dolby

Laboratories,

Inc.

,

Class

A

..........

33,758

2,167,939‌

Dropbox,

Inc.

,

Class

A

(a)

(b)

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

94,751

2,634,078‌

D-Wave

Quantum,

Inc.

(a)

(b)

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

188,501

4,929,301‌

Dynatrace,

Inc.

(a)

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

163,782

7,098,312‌

Elastic

NV

(a)

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

50,555

3,813,869‌

Fair

Isaac

Corp.

(a)

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

12,876

21,768,423‌

Five9,

Inc.

(a)

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

40,516

812,346‌

Fortinet,

Inc.

(a)

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

343,380

27,267,806‌

Freshworks,

Inc.

,

Class

A

(a)

(b)

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

114,335

1,400,604‌

Gen

Digital,

Inc.

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

304,872

8,289,470‌

Gitlab,

Inc.

,

Class

A

(a)

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

77,290

2,900,694‌

Guidewire

Software,

Inc.

(a)

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

46,187

9,284,049‌

HubSpot,

Inc.

(a)

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

28,460

11,420,998‌

Hut

8

Corp.

(a)

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

52,318

2,403,489‌

Intapp,

Inc.

(a)

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

31,447

1,440,902‌

InterDigital,

Inc.

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

13,984

4,452,226‌

Intuit,

Inc.

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

151,459

100,329,471‌

Jamf

Holding

Corp.

(a)

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

46,618

606,500‌

Klaviyo,

Inc.

,

Class

A

(a)

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

74,891

2,431,711‌

Life360,

Inc.

(a)

(b)

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

42,589

2,731,658‌

Lightspeed

Commerce,

Inc.

(a)

(b)

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

67,150

811,172‌

LiveRamp

Holdings,

Inc.

(a)

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

34,403

1,010,416‌

Manhattan

Associates,

Inc.

(a)

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

32,735

5,673,303‌

MARA

Holdings,

Inc.

(a)

(b)

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

206,292

1,852,502‌

Microsoft

Corp.

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

1,628,685

787,664,640‌

N-able,

Inc.

(a)

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

37,001

276,767‌

nCino,

Inc.

(a)

(b)

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

58,741

1,506,119‌

NCR

Voyix

Corp.

(a)

(b)

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

79,185

807,687‌

NextNav,

Inc.

(a)

(b)

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

48,920

814,029‌

Nutanix,

Inc.

,

Class

A

(a)

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

147,097

7,603,444‌

Onestream,

Inc.

(a)

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

45,451

835,389‌

Open

Text

Corp.

(b)

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

136,901

4,460,235‌

Oracle

Corp.

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

913,700

178,089,267‌

PagerDuty,

Inc.

(a)

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

49,637

650,741‌

Palantir

Technologies,

Inc.

,

Class

A

(a)

.......

1,240,926

220,574,596‌

Palo

Alto

Networks,

Inc.

(a)

(b)

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

371,560

68,441,352‌

PAR

Technology

Corp.

(a)

(b)

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

22,506

816,518‌

Pegasystems,

Inc.

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

49,785

2,973,160‌

Schedule

of

Investments

(unaudited)

(continued)

December

31,

2025

iShares

®

Expanded

Tech

Sector

ETF

3

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Software

(continued)

Procore

Technologies,

Inc.

(a)

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

64,390

$

4,683,729‌

Progress

Software

Corp.

(a)

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

23,204

996,844‌

PTC,

Inc.

(a)

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

65,079

11,337,413‌

Q2

Holdings,

Inc.

(a)

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

33,720

2,433,235‌

Qualys,

Inc.

(a)

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

19,351

2,571,748‌

Rapid7,

Inc.

(a)

(b)

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

29,115

442,548‌

RingCentral,

Inc.

,

Class

A

(a)

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

41,061

1,185,842‌

Riot

Platforms,

Inc.

(a)

(b)

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

173,030

2,192,290‌

Roper

Technologies,

Inc.

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

58,474

26,028,532‌

Rubrik,

Inc.

,

Class

A

(a)

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

77,183

5,902,956‌

Salesforce,

Inc.

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

517,161

137,001,120‌

Samsara,

Inc.

,

Class

A

(a)

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

189,447

6,715,896‌

SEMrush

Holdings,

Inc.

,

Class

A

(a)

.........

21,489

255,504‌

SentinelOne,

Inc.

,

Class

A

(a)

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

177,208

2,658,120‌

ServiceNow,

Inc.

(a)

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

563,560

86,331,756‌

ServiceTitan,

Inc.

,

Class

A

(a)

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

30,743

3,274,130‌

SoundHound

AI,

Inc.

,

Class

A

(a)

(b)

..........

208,895

2,082,683‌

Sprinklr,

Inc.

,

Class

A

(a)

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

63,864

496,862‌

SPS

Commerce,

Inc.

(a)

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

20,863

1,859,519‌

Strategy,

Inc.

,

Class

A

(a)

(b)

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

145,429

22,097,937‌

Synopsys,

Inc.

(a)

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

100,908

47,398,506‌

Tenable

Holdings,

Inc.

(a)

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

66,485

1,564,392‌

Teradata

Corp.

(a)

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

51,582

1,570,156‌

Terawulf,

Inc.

(a)

(b)

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

175,730

2,019,138‌

Trimble,

Inc.

(a)

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

129,244

10,126,267‌

Tyler

Technologies,

Inc.

(a)

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

23,374

10,610,627‌

UiPath,

Inc.

,

Class

A

(a)

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

229,144

3,755,670‌

Unity

Software,

Inc.

(a)

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

185,967

8,214,162‌

Varonis

Systems,

Inc.

(a)

(b)

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

62,353

2,045,178‌

Vertex,

Inc.

,

Class

A

(a)

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

40,915

817,073‌

Workday,

Inc.

,

Class

A

(a)

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

117,881

25,318,481‌

Workiva,

Inc.

,

Class

A

(a)

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

28,395

2,449,069‌

Zeta

Global

Holdings

Corp.

,

Class

A

(a)

(b)

......

108,456

2,207,080‌

Zoom

Communications,

Inc.

(a)

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

144,879

12,501,609‌

Zscaler,

Inc.

(a)

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

55,035

12,378,472‌

2,399,639,855‌

Technology

Hardware,

Storage

&

Peripherals

—

10.6%

Apple,

Inc.

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

2,795,831

760,074,616‌

CompoSecure,

Inc.

,

Class

A

(a)

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

38,087

734,317‌

Dell

Technologies,

Inc.

,

Class

C

...........

163,732

20,610,584‌

Diebold

Nixdorf,

Inc.

(a)

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

19,482

1,322,633‌

Hewlett

Packard

Enterprise

Co.

...........

716,774

17,216,912‌

HP,

Inc.

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

507,763

11,312,960‌

IonQ,

Inc.

(a)

(b)

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

192,460

8,635,680‌

NetApp,

Inc.

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

108,438

11,612,625‌

Pure

Storage,

Inc.

,

Class

A

(a)

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

169,602

11,365,030‌

Quantum

Computing,

Inc.

(a)

(b)

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

103,491

1,061,818‌

Sandisk

Corp.

(a)

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

75,630

17,953,049‌

Seagate

Technology

Holdings

plc

..........

118,375

32,599,291‌

Super

Micro

Computer,

Inc.

(a)

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

272,408

7,973,382‌

Western

Digital

Corp.

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

185,734

31,996,396‌

934,469,293‌

Total

Long-Term

Investments

—

99

.9

%

(Cost:

$

6,505,953,949

)

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

8,832,816,303‌

Security

Shares

Shares

Value

Short-Term

Securities

Money

Market

Funds

—

1.3%

(c)(d)

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

,

3.89

%

(e)

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

102,589,220

$

102,640,514‌

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

,

3.72

%

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

8,030,303

8,030,303‌

Total

Short-Term

Securities

—

1

.3

%

(Cost:

$

110,645,413

)

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

110,670,817‌

Total

Investments

—

101

.2

%

(Cost:

$

6,616,599,362

)

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

8,943,487,120‌

Liabilities

in

Excess

of

Other

Assets

—

(

1.2

)

%

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

(

103,931,745‌

)

Net

Assets

—

100.0%

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

$

8,839,555,375‌

(a)

Non-income

producing

security.

(b)

All

or

a

portion

of

this

security

is

on

loan.

(c)

Affiliate

of

the

Fund.

(d)

Annualized

7-day

yield

as

of

period

end.

(e)

All

or

a

portion

of

this

security

was

purchased

with

the

cash

collateral

from

loaned

securities.

Schedule

of

Investments

(unaudited)

(continued)

December

31,

2025

iShares

®

Expanded

Tech

Sector

ETF

4

Affiliates

Investments

in

issuers

considered

to

be

affiliate(s)

of

the

Fund

during

the period

ended

December

31,

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

12/31/25

Shares

Held

at

12/31/25

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

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

$

145,311,103

$

—

$

(

42,647,710

)

(a)

$

(

25,759

)

$

2,880

$

102,640,514

102,589,220

$

301,012

(b)

$

—

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

9,783,615

—

(

1,753,312

)

(a)

—

—

8,030,303

8,030,303

327,092

—

$

(

25,759

)

$

2,880

$

110,670,817

$

628,104

$

—

—

—

(a)

Represents

net

amount

purchased

(sold).

(b)

All

or

a

portion

represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

collateral

investment

fees,

and

other

payments

to

and

from

borrowers

of

securities.

Derivative

Financial

Instruments

Outstanding

as

of

Period

End

Futures

Contracts

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

(000)

Value/

Unrealized

Appreciation

(Depreciation)

Long

Contracts

E-Mini

Technology

Select

Sector

Index

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

14

03/20/26

$

4,095

$

(

19,577

)

S&P

E-Mini

Communication

Services

Select

Sector

Index

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

7

03/20/26

1,085

12,936

$

(

6,641

)

Schedule

of

Investments

(unaudited)

(continued)

December

31,

2025

iShares

®

Expanded

Tech

Sector

ETF

5

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

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

$

8,832,816,303

$

—

$

—

$

8,832,816,303

Short-Term

Securities

Money

Market

Funds

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

110,670,817

—

—

110,670,817

$

8,943,487,120

$

—

$

—

$

8,943,487,120

Derivative

Financial

Instruments

(a)

Assets

Equity

contracts

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

$

12,936

$

—

$

—

$

12,936

Liabilities

Equity

contracts

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

(

19,577

)

—

—

(

19,577

)

$

(

6,641

)

$

—

$

—

$

(

6,641

)

(a)

Derivative

financial

instruments

are

futures

contracts.

Futures

contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

Portfolio

Abbreviation

NVS

Non-Voting

Shares