NPORT-EX 2 NPORT_917202329703359.htm iShares Ultra Short-Term Bond ETF

Schedule of Investments  (unaudited) 

January 31, 2020

   

iShares® Ultra Short-Term Bond ETF

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  

Asset-Backed Securities

    

BMW Vehicle Owner Trust, Series 2019-A, Class A2, 2.05%, 05/25/22

   $   15,830     $ 15,865,334  

CarMax Auto Owner Trust

    

1.87%, 04/17/23

     3,150       3,159,324  

Class A2A, 2.21%, 12/15/22

     7,280       7,309,335  

Series 2019-1, Class A2A, 3.02%, 07/15/22

     2,140       2,150,314  

CNH Equipment Trust, Series 2019-A,
Class A2, 2.96%, 05/16/22

     2,512       2,525,106  

Discover Card Execution Note Trust,
Series 2019-A2, Class A, 1.95%, 12/15/23,
(1 mo. LIBOR US + 0.270%)(a)

     10,000       10,035,431  

Ford Credit Auto Lease Trust, 1.80%, 07/15/22

     10,520       10,533,818  

Toyota Auto Receivables Owner Trust,
Class A2, 2.77%, 08/16/21

     1,149       1,151,929  
   

 

 

  

Total Asset-Backed Securities — 1.8%
(Cost: $52,579,379)

 

       52,730,591  
   

 

 

  

Certificates of Deposit

    

ABN AMRO Bank NV

    

1.85%, 05/11/20

     13,000       13,005,811  

1.90%, 04/03/20(b)

     5,000       4,985,491  

Banco Santander SA/New York, 1.95%, 01/29/21, (3 mo. LIBOR US + 0.140%)(a)

     6,000       6,000,000  

Bank of Montreal/Chicago IL

    

1.93%, 10/02/20, (SOFRRATE + 0.400%)(a)

     20,000       20,019,040  

1.93%, 02/12/21, (3 mo. LIBOR US + 0.100%)(a)

     7,700       7,701,509  

2.08%, 03/06/20, (3 mo. LIBOR US + 0.190%)(a)

     2,000       2,000,477  

Bank of Nova Scotia/Houston

    

1.81%, 04/16/20, (FEDL01 + 0.260%)(a)

     1,000       1,000,216  

2.00%, 10/23/20, (FEDL01 + 0.450%)(a)

     8,000       8,013,680  

2.08%, 02/18/20, (3 mo. LIBOR US + 0.180%)(a)

     1,000       1,000,111  

Barclays Bank PLC

    

2.01%, 12/08/20

     9,000       9,015,165  

2.16%, 08/10/20(a)

     2,000       2,002,434  

2.32%, 10/08/20, (3 mo. LIBOR US + 0.450%)(a)

     5,000       5,001,661  

Bayerische Landesbank/New York, 1.98%, 01/28/21, (3 mo. LIBOR US + 0.180%)(a)

     13,800       13,799,987  

BNP Paribas SA/New York NY, 2.16%, 02/01/21(a)

     17,000       17,019,998  

Canadian Imperial Bank of Commerce, 2.30%, 05/02/20(a)

     2,000       2,001,941  

Canadian Imperial Bank of Commerce/New York NY, 1.96%, 01/04/21, (1 mo. LIBOR US + 0.250%)(a)

     10,000       10,008,774  

Credit Agricole Corporate and Investment Bank/New York

    

2.04%, 07/15/21, (3 mo. LIBOR US + 0.210%)(a)

     7,000       6,999,985  

2.12%, 01/11/21, (3 mo. LIBOR US + 0.270%)(a)

     3,000       3,004,463  

2.20%, 08/25/20(a)

     5,000       5,006,078  

2.29%, 05/11/20, (3 mo. LIBOR US + 0.385%)(a)

     2,000       2,001,956  

2.32%, 07/13/20, (3 mo. LIBOR US + 0.470%)(a)

     6,000       6,010,783  

2.33%, 09/24/20, (3 mo. LIBOR US + 0.400%)(a)

     1,800       1,803,618  

2.37%, 09/09/21, (3 mo. LIBOR US + 0.480%)(a)

     6,000       6,021,566  

2.44%, 01/14/21, (3 mo. LIBOR US + 0.600%)(a)

     3,145       3,159,346  

Credit Industriel Et Commercial

    

0.01%, 03/25/20

     7,000       6,983,188  

0.01%, 01/08/21

     8,000       7,865,850  

Credit Suisse AG/New York NY

    

1.90%, 05/22/20, (SOFRRATE + 0.370%)(a)

     5,000       5,002,626  

1.97%, 11/20/20

     3,000       3,004,353  

1.98%, 09/25/20, (SOFRRATE + 0.450%)(a)

     7,000       7,008,260  

2.04%, 12/11/20, (3 mo. LIBOR US + 0.160%)(a)

     3,000       3,001,778  
Security  

Par

(000)

     Value  

2.12%, 12/30/20, (3 mo. LIBOR US + 0.230%)(a)

   $   5,000     $   5,005,777  

2.70%, 05/01/20

     4,000       4,009,266  

DNB Bank ASA/New York, 2.04%, 07/19/21, (3 mo. LIBOR US + 0.220%)(a)

     13,000       13,014,933  

DZ Bank AG Deutsche Zentral

    

2.18%, 02/27/20(b)

     20,000       19,973,934  

4.41%, 02/03/20(b)

     8,000       7,998,840  

Goldman Sachs Bank USA/New York NY

    

1.98%, 02/26/21, (SOFRRATE + 0.430%)(a)

     4,000       3,998,727  

2.73%, 06/29/20, (SOFRRATE + 0.250%)(a)

     2,750       2,749,986  

Kookmin Bank/New York, 2.17%, 02/17/21,
(3 mo. LIBOR US + 0.370%)(a)

     30,000       29,999,845  

Landesbank Baden-Wuerttemberg,
2.28%, 02/05/20(b)

     20,000       19,995,398  

Lloyds Bank Corporate Markets PLC/New York NY

    

1.93%, 01/06/21

     3,500       3,503,930  

2.03%, 12/18/20

     5,500       5,510,676  

2.19%, 03/13/20(a)

     7,000       7,002,859  

2.31%, 04/26/21(a)

     7,000       7,018,616  

2.37%, 07/19/21(a)

     4,000       4,008,599  

2.43%, 09/24/20, (3 mo. LIBOR US + 0.500%)(a)

     2,800       2,806,880  

Mizuho Bank Ltd., 2.18%, 03/23/20

     8,000       8,005,844  

Mizuho Bank Ltd./NY

    

1.93%, 04/30/20

     6,000       6,003,459  

2.16%, 04/15/20, (3 mo. LIBOR US + 0.330%)(a)

     1,500       1,501,093  

Morgan Stanley Bank N.A., 2.32%, 02/19/21(c)

     4,400       4,400,567  

MUFG Bank Ltd.

    

1.96%, 10/15/20

     8,000       8,013,826  

1.98%, 10/15/20

     6,000       6,011,132  

2.02%, 08/26/20

     4,000       4,007,048  

2.06%, 08/18/20

     5,500       5,510,655  

2.29%, 01/25/21, (3 mo. LIBOR US + 0.500%)(a)

     2,000       2,007,559  

2.34%, 07/16/21, (3 mo. LIBOR US + 0.500%)(a)

     3,000       3,006,402  

2.72%, 02/24/20

     2,000       2,001,444  

2.84%, 02/24/20

     3,000       3,002,395  

National Westminster Bank PLC, 1.84%, 07/23/20

     25,000       25,003,250  

Natixis SA/New York NY

    

1.83%, 06/05/20, (SOFRRATE + 0.300%)(a)

     3,000       3,002,171  

1.93%, 11/12/20

     6,000       6,007,981  

2.20%, 07/23/20(a)

     4,000       4,007,085  

Nordea Bank AB/New York NY

    

2.12%, 07/10/20, (3 mo. LIBOR US + 0.290%)(a)

     4,000       4,004,674  

2.17%, 08/10/20, (3 mo. LIBOR US + 0.270%)(a)

     1,000       1,001,282  

Nordea Bank Abp/New York NY

    

1.99%, 01/28/22(a)

     10,000       10,000,000  

2.14%, 01/07/22, (3 mo. LIBOR US + 0.260%)(a)

     6,500       6,499,984  

2.18%, 02/05/21, (3 mo. LIBOR US + 0.290%)(a)

     9,848       9,866,546  

Norinchukin Bank (The), 1.94%, 04/09/20

     15,000       15,008,372  

Oversea-Chinese Banking Corp. Ltd.,
1.87%, 08/04/20

     12,000       12,009,044  

Skandinaviska Enskilda Banken AB/New York NY
1.93%, 10/16/20

     6,000       6,008,280  

2.06%, 10/02/20, (3 mo. LIBOR US + 0.150%)(a)

     5,000       5,002,938  

Societe Generale SA, 2.13%, 02/02/21, (3 mo. LIBOR US + 0.230%)(a)

     7,000       7,005,449  

Societe Generale/New York NY

    

2.00%, 05/14/20, (1 mo. LIBOR US + 0.320%)(a)

     4,000       4,002,680  

2.80%, 03/13/20

     2,000       2,002,649  

Standard Chartered Bank, 1.99%, 05/01/20

     15,000       15,010,236  

Standard Chartered Bank/New York, 2.00%, 06/08/20, (1 mo. LIBOR US + 0.300%)(a)

     6,500       6,504,237  

Sumitomo Mitsui Banking Corp./New York 2.20%, 07/12/21, (3 mo. LIBOR US + 0.350%)(a)

     5,000       5,009,204  
 

 

 

1

Schedule of Investments  (unaudited) (continued)

January 31, 2020

   

iShares® Ultra Short-Term Bond ETF

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  

2.21%, 10/12/21, (3 mo. LIBOR US + 0.380%)(a)

   $ 3,000     $ 3,003,976  

2.22%, 07/24/20, (3 mo. LIBOR US + 0.420%)(a)

     2,000       2,003,845  

2.26%, 04/06/21, (3 mo. LIBOR US + 0.355%)(a)

     5,000       5,011,261  

2.29%, 02/12/21(a)

     13,000       13,039,390  

2.31%, 06/18/20, (3 mo. LIBOR US + 0.410%)(a)

     8,200       8,212,329  

2.33%, 09/10/21, (3 mo. LIBOR US + 0.440%)(a)

     5,000       5,013,309  

Sumitomo Mitsui Trust Bank Ltd./New York

    

1.90%, 02/18/20

     7,000       7,000,981  

2.10%, 02/25/20(a)

     6,000       6,001,036  

2.10%, 05/18/20(a)

     6,000       6,003,614  

Svenska Handelsbanken/New York NY

    

2.03%, 01/04/21, (1 mo. LIBOR US + 0.250%)(a)

     10,000       10,011,598  

2.06%, 10/02/20, (3 mo. LIBOR US + 0.150%)(a)

     10,000       10,007,844  

2.14%, 01/06/22, (3 mo. LIBOR US + 0.260%)(a)

     7,000       6,999,984  

2.31%, 04/01/20, (3 mo. LIBOR US + 0.400%)(a)

     3,000       3,002,081  

Toronto-Dominion Bank (The)

    

2.00%, 03/17/20

       10,000       10,004,653  

2.17%, 07/24/20

     7,000       7,017,323  

Toronto-Dominion Bank/NY

    

1.86%, 07/16/20, (FEDL01 + 0.310%)(a)

     6,000       6,003,745  

2.14%, 09/28/20, (3 mo. LIBOR US + 0.190%)(a)

     10,000       10,010,248  

Westpac Banking Corp./NY, 2.04%, 12/09/20, (3 mo. LIBOR US + 0.150%)(a)

     12,000       12,010,003  
   

 

 

  

Total Certificates of Deposit — 23.0%
(Cost: $656,159,704)

         656,833,117  
   

 

 

  

Commercial Paper

    

Amcor Finance USA Inc.

    

1.80%, 02/05/20(b)

     3,000       2,999,344  

2.26%, 02/28/20(b)

     5,000       4,993,093  

AT&T Inc., 0.00%, 02/27/20(b)(d)

     15,000       14,982,500  

Atlantic Asset Securitization LLC, 2.14%, 03/24/20(b)

     5,000       4,987,758  

Banco Santander SA, 1.98%, 06/26/20(b)

     6,000       5,957,640  

Barclays Bank PLC, 1.85%, 01/28/21(b)

     15,000       14,724,725  

Bayerische Landesbank/New York,
2.20%, 02/06/20(b)

     3,000       2,999,206  

Bedford Row Funding Corp.,
1.96%, 04/16/20(b)

     3,000       2,989,430  

Bell Canada Inc.

    

1.80%, 04/16/20(b)

     3,000       2,988,112  

1.85%, 04/21/20(b)

     10,000       9,957,588  

1.87%, 04/14/20(b)

     9,000       8,965,349  

1.89%, 04/17/20(b)

     15,000       14,939,748  

2.30%, 02/13/20(b)

     4,500       4,497,026  

BNP Paribas Fortis Funding,
1.96%, 04/28/20(b)(d)

     1,180       1,175,102  

BP Capital Markets PLC, 2.97%, 03/02/20(b)

     9,000       8,987,577  

BPCE, 2.04%, 12/23/20(b)

     8,000       7,874,359  

Brookfield BRP

    

1.94%, 03/25/20(b)

     4,000       3,988,634  

1.97%, 04/23/20(b)

     4,000       3,982,142  

Cancara Asset Securitisation LLC, 1.97%, 06/03/20(b)

     3,000       2,982,392  

CenterPoint Energy Inc.

    

0.00%, 02/03/20(b)(d)

     15,000       14,997,938  

1.90%, 02/11/20(b)

     10,500       10,494,706  

Corpoerative Centrale, 1.90%, 02/07/20(b)

     2,000       1,999,405  

Daimler Finance North America LLC, 2.16%, 03/30/20(b)

     3,250       3,240,418  

DBS Bank Ltd., 1.96%, 04/20/20(b)

     9,600       9,564,096  

DNB Bank ASA, 1.90%, 03/05/20, (1 mo. LIBOR US + 0.190%)(a)

     7,500       7,501,048  

Electricite de France SA, 1.76%, 04/27/20(b)

     8,000       7,964,852  
Security  

Par

(000)

     Value  

Enbridge (U.S.) Inc.

    

1.87%, 02/24/20(b)

   $ 5,000     $ 4,994,107  

1.90%, 02/07/20(b)

       10,000       9,996,694  

Exelon Generation Co.

    

1.77%, 02/07/20(b)

     8,500       8,496,893  

1.77%, 02/18/20(b)

     2,000       1,998,244  

Federation Des Caisses Desjardins Du Quebe, 1.95%, 03/17/20(b)

     6,100       6,087,529  

Fidelity National Information Services Inc.

    

0.00%, 02/10/20(b)(d)

     17,368         17,359,615  

1.74%, 02/12/20(b)

     4,600       4,597,327  

HSBC Bank PLC

    

1.94%, 12/30/20, (1 mo. LIBOR US +
0.290%)(a)

     5,000       5,003,255  

2.06%, 10/13/20, (3 mo. LIBOR US +
0.230%)(a)

     10,000       10,010,950  

Hyundai Capital America

    

2.03%, 02/14/20(b)

     5,000       4,996,609  

2.22%, 06/09/20(b)

     13,000       12,912,683  

ING U.S. Funding LLC

    

2.06%, 09/14/20, (3 mo. LIBOR US +
0.150%)(a)

     5,000       5,002,425  

2.10%, 09/23/20, (3 mo. LIBOR US +
0.170%)(a)

     10,000       10,005,649  

Keurig Dr Pepper Inc., 1.79%, 03/20/20(b)

     3,000       2,992,679  

Lloyds Bank PLC, 1.82%, 02/21/20, (1 mo. LIBOR US + 0.170%)(a)

     3,500       3,500,334  

Lowes Cos Inc., 2.14%, 03/06/20(b)

     10,000       9,982,665  

Mondelez International Inc., 1.97%, 02/18/20(b)

     12,000       11,989,464  

National Australia Bank Ltd., 2.01%, 12/09/20, (3 mo. LIBOR US + 0.120%)(a)

     12,000       12,006,994  

National Grid Electricity Transmission PLC, 2.01%, 02/07/20(b)

     2,000       1,999,339  

National Grid USA, 1.86%, 03/18/20(b)

     4,000       3,990,647  

Nationwide Building Society

    

1.95%, 03/23/20(b)(d)

     6,000       5,984,972  

2.02%, 04/01/20(b)(d)

     10,000       9,970,330  

NextEra Energy Capital Holdings Inc.

    

1.81%, 03/26/20(b)

     3,000       2,991,764  

1.85%, 04/13/20(b)

     10,000       9,963,318  

2.08%, 02/27/20(b)

     5,000       4,993,348  

Nissan Motor Acceptance Corp.

    

1.91%, 04/07/20(b)

     1,750       1,743,796  

2.01%, 03/02/20(b)

     10,000       9,984,207  

2.03%, 03/09/20(b)

     3,000       2,994,104  

2.03%, 03/26/20(b)

     8,000       7,976,814  

2.22%, 06/12/20(b)

     7,000       6,949,235  

2.26%, 02/28/20(b)

     6,250       6,241,177  

Nutrien Ltd.

    

0.00%, 02/28/20(b)(d)

     10,000       9,986,187  

2.01%, 02/21/20(b)

     4,000       3,995,889  

Oversea-Chinese Banking Corp. Ltd.

    

0.02%, 08/26/20, (3 mo. LIBOR US +
0.090%)(a)

     5,000       4,999,433  

1.94%, 10/19/20(b)

     8,000       7,896,190  

Parker-Hannifin Corp.

    

2.05%, 03/11/20(b)

     1,000       998,111  

2.06%, 03/05/20(b)

     10,000       9,983,944  

2.06%, 03/31/20(b)

     4,000       3,988,667  

Reckitt Benckiser Treasury Services PLC

    

1.84%, 02/07/20(b)

     5,000       4,998,396  

2.14%, 05/29/20(b)

     3,000       2,981,307  

2.23%, 04/20/20(b)

     8,000       7,969,191  

2.50%, 04/30/20(b)

     9,000       8,960,625  

2.52%, 04/09/20(b)

     5,500       5,481,921  

2.79%, 02/03/20(b)

     2,500       2,499,660  
 

 

 

2

Schedule of Investments  (unaudited) (continued)

January 31, 2020

   

iShares® Ultra Short-Term Bond ETF

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Rogers Communications Inc., 2.08%, 02/06/20(b)

   $ 9,000     $ 8,997,510  

Royal Bank of Canada

    

1.84%, 08/17/20, (SOFRRATE + 0.310%)(a)

     12,000       11,999,092  

2.01%, 03/18/20(b)

     10,000       9,978,719  

Salisbury Receivables Co. LLC, 2.01%, 04/17/20, (SOFRRATE + 0.480%)(a)

     3,000       3,000,000  

Santander UK PLC, 2.06%, 02/03/20(b)

     1,000       999,869  

Shell International Finance BV,
1.97%, 06/26/20(b)

     6,500       6,456,206  

Societe Generale SA

    

2.03%, 08/20/20, (1 mo. LIBOR US +
0.380%)(a)

     10,000       10,013,632  

2.14%, 12/14/20, (3 mo. LIBOR US +
0.250%)(a)

     7,000       7,008,926  

Sonoco Products Co., 0.00%, 02/03/20

     5,000       4,999,302  

Starbucks Corp.

    

1.91%, 06/16/20(b)

     7,000       6,948,853  

2.08%, 03/12/20(b)

     10,000       9,979,272  

Suncor Energy Inc.

    

1.83%, 04/30/20(b)

     5,000       4,977,250  

1.96%, 03/31/20(b)

     3,000       2,991,000  

1.99%, 02/03/20(b)

     4,885       4,884,318  

1.99%, 02/14/20(b)

     11,250       11,242,370  

2.01%, 02/05/20(b)

     4,000       3,999,062  

2.01%, 02/07/20(b)

     12,750       12,745,785  

2.02%, 02/21/20(b)

     5,500       5,494,347  

2.03%, 03/09/20(b)

     3,000       2,994,347  

2.11%, 02/24/20(b)

     10,000       9,988,333  

Suncorp Group Ltd.

    

1.92%, 05/11/20(b)

     9,000       8,954,727  

1.92%, 06/09/20(b)

     7,000       6,953,236  

1.94%, 05/26/20(b)

     2,000       1,988,155  

Svenska Handelsbanken AB, 1.94%, 10/16/20(b)

     4,000       3,950,848  

SYSCO Corp., 0.00%, 02/03/20(b)(d)

     6,000       5,999,148  

Telstra Corp. Ltd., 1.82%, 04/28/20(b)

     6,545       6,515,450  

TELUS Corp., 2.11%, 04/06/20(b)

     3,000       2,990,078  

Toronto-Dominion Bank (The), 1.86%, 06/12/20, (1 mo. LIBOR US + 0.180%)(a)

     5,000       5,001,779  

TransCanada PipeLines Ltd.

    

1.81%, 04/09/20(b)

     7,000       6,975,770  

2.01%, 04/07/20(b)

     6,000       5,979,844  

2.05%, 03/02/20(b)

     4,000       3,993,865  

2.06%, 02/04/20(b)

     10,000       9,998,132  

2.08%, 03/10/20(b)

     2,400       2,395,356  

2.08%, 03/16/20(b)

     5,000       4,988,813  

2.09%, 03/20/20(b)

     7,600       7,581,452  

2.13%, 03/03/20(b)

     2,400       2,396,201  

UBS AG/London, 2.05%, 07/10/20 (Call 04/14/20), (3 mo. LIBOR US + 0.200%)(a)

     5,000       5,003,892  

VW Credit Inc.

    

1.87%, 02/21/20(b)

     9,000       8,990,750  

1.99%, 02/03/20(b)

     3,424       3,423,522  

2.04%, 01/29/21(b)

     12,900       12,613,308  

2.50%, 04/01/20(b)

     3,000       2,990,845  

Walgreens Boots Alliance Inc.,
2.43%, 02/03/20(b)

     6,000       5,999,163  

Welltower Inc., 2.16%, 03/20/20(b)

     6,250       6,234,747  
   

 

 

  

Total Commercial Paper — 26.0%
(Cost: $744,617,125)

       744,808,150  
   

 

 

  

Corporate Bonds & Notes

    
Aerospace & Defense — 1.3%            

General Dynamics Corp., 2.88%, 05/11/20

     2,000       2,006,203  

Lockheed Martin Corp., 2.50%, 11/23/20 (Call 10/23/20)

     12,000       12,070,596  
Security   Par
(000)		     Value  
Aerospace & Defense (continued)            

Raytheon Co., 3.13%, 10/15/20

   $ 4,600     $ 4,645,500  

United Technologies Corp.
1.90%, 05/04/20

     12,494       12,497,322  

2.55%, 08/16/21 (Call 02/18/20), (3 mo. LIBOR US + 0.650%)(a)

     6,000       6,001,141  

3.35%, 08/16/21

     540       552,073  
   

 

 

  
      37,772,835  
Auto Manufacturers — 4.2%            

American Honda Finance Corp.

    

2.04%, 02/21/20, (3 mo. LIBOR US + 0.150%)(a)

     2,000       2,000,243  

2.11%, 02/12/21, (3 mo. LIBOR US + 0.210%)(a)

     1,000       1,000,973  

2.15%, 06/16/20, (3 mo. LIBOR US + 0.260%)(a)

     4,000       4,004,549  

2.20%, 06/27/22

     10,100       10,209,751  

2.24%, 06/11/21, (3 mo. LIBOR US + 0.350%)(a)

     4,120       4,134,457  

BMW U.S. Capital LLC

    

1.85%, 09/15/21 (Call 08/15/21)(d)

     10,000       10,025,108  

2.26%, 04/12/21, (3 mo. LIBOR US +
0.410%)(a)(d)

     2,000       2,004,435  

2.28%, 04/06/20, (3 mo. LIBOR US +
0.380%)(a)(d)

     5,000       5,004,210  

2.40%, 08/13/21, (3 mo. LIBOR US +
0.500%)(a)(d)

     5,000       5,020,932  

3.25%, 08/14/20(d)

     1,850       1,865,049  

Daimler Finance North America LLC

    

2.30%, 02/12/21(d)

     1,535       1,539,896  

2.35%, 02/22/21, (3 mo. LIBOR US +
0.450%)(a)(d)

     3,000       3,006,866  

3.10%, 05/04/20(d)

     9,325       9,353,761  

3.40%, 02/22/22(d)

     5,000       5,147,198  

Harley-Davidson Financial Services Inc.

    

2.15%, 02/26/20(d)

     8,000       7,999,794  

2.39%, 05/21/20, (3 mo. LIBOR US +
0.500%)(a)(d)

     2,000       2,002,238  

Hyundai Capital America

    

2.55%, 04/03/20(d)

     3,304       3,314,325  

2.71%, 03/12/21, (3 mo. LIBOR US +
0.820%)(a)(d)

     1,000       1,004,164  

2.85%, 11/01/22(d)

     3,440       3,492,675  

3.00%, 10/30/20(d)

     6,794       6,847,078  

3.45%, 03/12/21(d)

     2,200       2,233,688  

Nissan Motor Acceptance Corp., 2.35%, 09/28/20, (3 mo. LIBOR US + 0.390%)(a)(d)

     750       750,703  

PACCAR Financial Corp.

    

2.05%, 11/13/20

     580       581,703  

2.16%, 05/10/21, (3 mo. LIBOR US + 0.260%)(a)

     680       680,509  

2.35%, 06/17/22, (3 mo. LIBOR US + 0.450%)(a)

     10,000       10,051,937  

3.10%, 05/10/21

     915       930,562  

Toyota Motor Credit Corp.

    

2.26%, 03/12/20, (3 mo. LIBOR US + 0.370%)(a)

     1,500       1,500,776  

3.05%, 01/08/21

     2,435       2,467,040  

Volkswagen Group of America Finance LLC

    

2.50%, 09/24/21(d)

     430       434,073  

2.79%, 09/24/21, (3 mo. LIBOR US +
0.860%)(a)(d)

     3,870       3,902,753  

3.88%, 11/13/20(d)

     7,000       7,106,449  
   

 

 

  
      119,617,895  
Auto Parts & Equipment — 0.0%            

Toyota Industries Corp., 3.11%, 03/12/22 (Call 02/12/22)(d)

     1,000       1,024,489  
   

 

 

  
Banks — 24.2%            

ABN AMRO Bank NV

    

2.45%, 06/04/20(d)

     5,000       5,010,500  

2.49%, 08/27/21, (3 mo. LIBOR US +
0.570%)(a)(d)

     3,000       3,017,340  

2.65%, 01/19/21(d)

     8,955       9,026,658  

3.40%, 08/27/21(d)

     4,060       4,161,573  

ANZ New Zealand Int’l Ltd./London 2.13%, 07/28/21(d)

     2,619       2,635,378  
 

 

 

3

Schedule of Investments  (unaudited) (continued)

January 31, 2020

   

iShares® Ultra Short-Term Bond ETF

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
Banks (continued)            

2.20%, 07/17/20(d)

   $ 1,351     $ 1,353,798  

2.75%, 01/22/21(d)

     4,000       4,039,241  

2.81%, 07/28/21, (3 mo. LIBOR US + 1.010%)(a)(d)

     4,000       4,046,676  

Australia & New Zealand Banking Group Ltd.

    

2.22%, 11/09/20, (3 mo. LIBOR US + 0.320%)(a)(d)

     1,000       1,002,176  

4.88%, 01/12/21(d)

     4,000       4,117,777  

Australia & New Zealand Banking Group Ltd./New York NY, 2.25%, 11/09/20

     4,500       4,519,371  

Bank of America Corp.

    

2.33%, 10/01/21 (Call 10/01/20)(c)

     3,000       3,010,712  

2.63%, 10/19/20

     6,000       6,036,643  

5.88%, 01/05/21

     3,000       3,112,659  

Bank of America N.A.

    

2.12%, 06/21/21 (Call 06/21/20), (SOFRRATE + 0.550%)(a)

     7,000       7,004,489  

2.26%, 05/24/21 (Call 04/24/21), (3 mo. LIBOR US + 0.350%)(a)

     5,000       5,004,722  

Bank of New York Mellon (The),
2.18%, 06/04/21 (Call 06/04/20), (3 mo. LIBOR US + 0.280%)(a)

       12,000       12,011,894  

Bank of Nova Scotia (The)

    

2.16%, 01/08/21, (3 mo. LIBOR US + 0.290%)(a)

     1,000       1,001,558  

2.26%, 04/20/21, (3 mo. LIBOR US + 0.440%)(a)

     2,000       2,007,609  

2.35%, 10/21/20

     6,000       6,028,690  

Banque Federative du Credit Mutuel SA

    

1.96%, 07/21/21(d)

     7,000       7,018,158  

2.13%, 11/21/22(d)

     8,745       8,813,229  

2.20%, 07/20/20(d)

     14,385       14,413,418  

2.75%, 10/15/20(d)

     3,000       3,020,538  

BNP Paribas SA

    

2.38%, 05/21/20

     4,900       4,909,960  

5.00%, 01/15/21

     8,000       8,245,134  

BNZ International Funding Ltd./London,
2.90%, 02/21/22(d)

    3,700       3,783,519  

BPCE SA

    

2.65%, 02/03/21

     1,200       1,210,716  

2.75%, 12/02/21

     11,945         12,151,172  

3.15%, 07/31/20(d)

     3,000       3,021,259  

Capital One N.A.

    

2.15%, 09/06/22 (Call 05/06/22)

     4,550       4,585,353  

2.95%, 07/23/21 (Call 06/23/21)

     4,500       4,574,061  

Citibank N.A.

    

2.10%, 06/12/20 (Call 05/12/20)

     3,000       3,003,122  

2.13%, 03/13/21 (Call 03/13/20), (SOFRRATE + 0.600%)(a)

     5,590       5,592,068  

2.25%, 02/12/21 (Call 01/12/21), (3 mo. LIBOR US + 0.350%)(a)

     1,000       1,002,413  

2.38%, 07/23/21 (Call 06/23/21), (3 mo. LIBOR US + 0.570%)(a)

     2,000       2,012,537  

2.85%, 02/12/21 (Call 01/12/21)

     6,300       6,369,166  

3.05%, 05/01/20 (Call 04/01/20)

     3,000       3,006,486  

3.17%, 02/19/22 (Call 02/19/21)(c)

     2,000       2,028,029  

Citigroup Inc.

    

2.31%, 11/04/22 (Call 11/04/21)(c)

     5,000       5,033,877  

2.43%, 11/04/22 (Call 11/04/21), (SOFRRATE + 0.870%)(a)

     5,000       5,024,532  

2.75%, 04/25/22 (Call 03/25/22)

     5,000       5,091,265  

Citizens Bank N.A./Providence RI,
2.25%, 03/02/20 (Call 02/03/20)

     2,500       2,500,904  

Commonwealth Bank of Australia

    

2.20%, 11/09/20(d)

     4,000       4,014,866  

2.34%, 03/10/20, (3 mo. LIBOR US + 0.450%)(a)(d)

     1,615       1,615,947  
Security  

Par

(000)

     Value  
Banks (continued)            

Commonwealth Bank of Australia/New York NY, 2.55%, 03/15/21

   $   11,575     $   11,689,761  

Cooperatieve Rabobank UA, 3.88%, 02/08/22

     1,925       2,008,432  

Cooperatieve Rabobank UA/NY

    

2.22%, 04/26/21, (3 mo. LIBOR US +
0.430%)(a)

     1,000       1,003,480  

2.50%, 01/19/21

     4,080       4,111,801  

Credit Agricole SA/London, 3.09%, 07/01/21, (3 mo. LIBOR US + 1.180%)(a)(d)

     4,000       4,054,797  

Credit Suisse AG/New York NY

    

2.04%, 02/04/22(a)

     16,000       16,004,800  

2.10%, 11/12/21

     6,855       6,900,627  

4.38%, 08/05/20

     5,020       5,085,921  

DBS Group Holdings Ltd., 2.85%, 04/16/22(d)

     3,267       3,330,323  

DNB Bank ASA

    

2.15%, 12/02/22(d)

     6,000       6,055,638  

2.38%, 06/02/21(d)

     4,450       4,490,894  

2.53%, 12/02/22, (3 mo. LIBOR US +
0.620%)(a)(d)

     5,000       5,040,458  

Fifth Third Bank/Cincinnati OH

    

1.80%, 01/30/23 (Call 12/30/22)

     4,560       4,573,151  

2.02%, 10/30/20 (Call 09/30/20), (3 mo. LIBOR US + 0.250%)(a)

     1,000       1,001,077  

Goldman Sachs Bank USA/New York NY

    

2.13%, 05/24/21 (Call 05/24/20), (SOFRRATE + 0.600%)(a)

     4,915       4,919,817  

3.20%, 06/05/20

     445       447,279  

Goldman Sachs Group Inc. (The)

    

2.60%, 04/23/20 (Call 03/23/20)

     12,000       12,013,830  

2.60%, 12/27/20 (Call 06/27/20)

     12,300       12,340,053  

HSBC Holdings PLC

    

2.50%, 05/18/21 (Call 05/18/20), (3 mo. LIBOR US + 0.600%)(a)

     7,563       7,572,855  

2.54%, 09/11/21 (Call 09/11/20), (3 mo. LIBOR US + 0.650%)(a)

     4,000       4,011,600  

3.40%, 03/08/21

     5,000       5,089,056  

HSBC USA Inc., 2.35%, 03/05/20

     4,000       4,002,320  

ING Bank NV

    

2.05%, 08/15/21(d)

     5,865       5,892,524  

2.45%, 03/16/20(d)

     12,000       12,009,467  

JPMorgan Chase Bank N.A.

    

2.27%, 02/19/21 (Call 02/19/20), (3 mo. LIBOR US + 0.370%)(a)

     5,000       5,001,432  

2.60%, 02/01/21 (Call 02/01/20)(c)

     3,000       3,000,000  

2.70%, 02/19/21 (Call 02/19/20), (SOFRRATE + 0.61%)(a)

     2,500       2,500,209  

KeyBank N.A./Cleveland OH, 3.30%, 02/01/22

     2,115       2,181,833  

Lloyds Bank PLC

    

2.70%, 08/17/20

     7,829       7,869,537  

3.30%, 05/07/21

     3,000       3,061,029  

6.38%, 01/21/21

     3,500       3,657,433  

Macquarie Bank Ltd., 2.35%, 11/24/21, (3 mo. LIBOR US + 0.450%)(a)(d)

     26,000       26,105,561  

Mitsubishi UFJ Trust & Banking Corp., 2.65%, 10/19/20(d)

     3,500       3,523,209  

Mizuho Bank Ltd.

    

2.40%, 03/26/20(d)

     3,000       3,002,730  

2.70%, 10/20/20(d)

     3,700       3,724,548  

Morgan Stanley

    

2.23%, 01/20/23 (Call 01/20/22), (SOFRRATE + 0.700%)(a)

     10,000       10,013,398  

2.45%, 02/10/21 (Call 02/10/20), (3 mo. LIBOR US + 0.550%)(a)

     7,000       7,000,811  
 

 

 

4

Schedule of Investments  (unaudited) (continued)

January 31, 2020

   

iShares® Ultra Short-Term Bond ETF

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Banks (continued)            

2.50%, 04/21/21

   $ 3,000     $ 3,029,122  

2.80%, 06/16/20

     5,000       5,018,237  

3.14%, 06/10/22 (Call 06/10/21),
(SOFRRATE + 0.830%)(a)

     5,000       5,020,913  

3.22%, 04/21/21, (3 mo. LIBOR
US + 1.400%)(a)

     2,000       2,030,725  

MUFG Bank Ltd.

    

2.75%, 09/14/20(d)

     3,000       3,018,594  

2.85%, 09/08/21(d)

     1,400       1,422,718  

MUFG Union Bank N.A., 3.15%, 04/01/22
(Call 03/01/22)

     4,000       4,111,630  

National Australia Bank Ltd., 2.20%, 01/12/21,
(3 mo. LIBOR US + 0.350%)(a)(d)

     2,000       2,005,931  

National Australia Bank Ltd./New York

    

1.88%, 07/12/21

     5,000       5,015,675  

1.88%, 12/13/22

     4,460       4,484,145  

2.13%, 05/22/20

     5,000       5,006,630  

2.50%, 01/12/21

     1,000       1,006,870  

2.63%, 07/23/20

     3,000       3,012,381  

3.70%, 11/04/21

     3,035       3,136,460  

National Bank of Canada, 2.20%, 11/02/20
(Call 10/02/20)

     2,000       2,005,897  

Nordea Bank Abp

    

2.13%, 05/29/20(d)

     8,350       8,359,846  

2.25%, 05/27/21(d)

     4,000       4,026,026  

2.38%, 05/29/20,
(3 mo. LIBOR US + 0.470%)(a)(d)

     2,000       2,003,158  

2.50%, 09/17/20(d)

     4,000       4,019,113  

Royal Bank of Canada, 2.10%, 07/22/20,

    

(3 mo. LIBOR US + 0.300%)(a)

     2,000       2,002,485  

Santander UK PLC

    

2.10%, 01/13/23

     2,670       2,691,811  

2.13%, 11/03/20

     19,579         19,632,233  

2.20%, 11/03/20, (3 mo. LIBOR
US + 0.300%)(a)

     500       500,767  

2.38%, 03/16/20

     2,000       2,001,560  

3.40%, 06/01/21

     4,000       4,088,571  

Skandinaviska Enskilda Banken AB

    

2.20%, 12/12/22(d)

     2,845       2,866,878  

2.30%, 03/11/20

     4,640       4,642,782  

2.33%, 05/17/21, (3 mo. LIBOR
US + 0.430%)(a)(d)

     4,000       4,011,144  

2.45%, 05/27/20(d)

     3,000       3,005,544  

2.53%, 12/12/22, (3 mo. LIBOR
US + 0.645%)(a)(d)

     3,000       3,013,657  

2.63%, 12/01/20, (3 mo. LIBOR
US + 0.720%)(a)(d)

     5,000       5,024,078  

2.63%, 03/15/21

     6,000       6,064,288  

3.05%, 03/25/22(d)

     3,000       3,073,110  

Societe Generale SA

    

2.50%, 04/08/21(d)

     5,460       5,507,253  

2.63%, 09/16/20(d)

     2,000       2,010,351  

5.20%, 04/15/21(d)

     3,571       3,721,173  

Sumitomo Mitsui Banking Corp.,
3.95%, 01/12/22(d)

     2,000       2,083,578  

Suncorp-Metway Ltd.

    

2.32%, 10/19/20, (3 mo. LIBOR
US + 0.500%)(a)(d)

     7,000       7,002,457  

2.35%, 04/27/20(d)

     2,000       2,002,580  

2.38%, 11/09/20(d)

     1,250       1,255,707  

Svenska Handelsbanken AB

    

2.25%, 09/08/20, (3 mo. LIBOR
US + 0.360%)(a)

     745       746,566  

2.40%, 10/01/20

     3,000       3,014,534  

Toronto-Dominion Bank (The), 3.00%, 06/11/20

     1,000       1,004,343  

Truist Bank

    

2.25%, 06/01/20 (Call 05/01/20)

     7,600       7,609,381  

3.53%, 10/26/21 (Call 10/26/20)(c)

     5,000       5,067,163  

Truist Financial Corp., 2.15%, 02/01/21
(Call 01/01/21)

     6,172       6,193,782  
Security   Par
(000)		     Value  
Banks (continued)            

UBS AG/London

    

2.20%, 06/08/20 (Call 05/08/20)(d)

   $ 2,300     $ 2,302,403  

2.45%, 12/01/20 (Call 11/01/20)(d)

     14,200       14,266,314  

UBS AG/Stamford CT

    

2.35%, 03/26/20

     2,500       2,502,250  

4.88%, 08/04/20

     1,000       1,015,802  

United Overseas Bank Ltd., 2.29%, 04/23/21,
(3 mo. LIBOR US + 0.480%)(a)(d)

     2,000       2,003,375  

Wells Fargo & Co.

    

2.60%, 07/22/20

     1,000       1,003,719  

3.24%, 03/04/21, (3 mo. LIBOR
US + 1.340%)(a)

     5,000       5,066,246  

Wells Fargo Bank N.A.

    

2.14%, 01/15/21,
(3 mo. LIBOR US + 0.310%)(a)

     2,000       2,003,616  

2.27%, 05/21/21 (Call 05/21/20),
(3 mo. LIBOR US + 0.380%)(a)

     5,000       5,005,101  

2.31%, 07/23/21 (Call 07/23/20),
(3 mo. LIBOR US + 0.500%)(a)

     5,000       5,009,280  

2.31%, 10/22/21 (Call 09/21/21),
(3 mo. LIBOR US + 0.510%)(a)

     2,000       2,009,935  

2.55%, 09/09/22 (Call 09/09/21),
(3 mo. LIBOR US + 0.660%)(a)

     15,000       15,094,534  

3.33%, 07/23/21 (Call 07/23/20)(c)

     2,000       2,014,652  

Westpac Banking Corp.

    

2.00%, 01/13/23

     2,375       2,396,608  

2.32%, 03/06/20, (3 mo. LIBOR
US + 0.430%)(a)

     3,000       3,001,608  

2.60%, 11/23/20

     11,160       11,241,324  

3.05%, 05/15/20

     5,000       5,018,270  
   

 

 

  
        693,009,768  
Biotechnology — 0.6%            

Gilead Sciences Inc., 2.55%, 09/01/20

     18,000       18,080,839  
   

 

 

  
Chemicals — 0.1%            

Air Liquide Finance SA, 1.75%, 09/27/21
(Call 08/27/21)(d)

     3,000       3,001,430  
   

 

 

  
Computers — 0.5%            

International Business Machines Corp.,
2.30%, 05/13/21, (3 mo.
LIBOR US + 0.400%)(a)

     14,000       14,071,227  
   

 

 

  
Diversified Financial Services — 1.9%            

American Express Co., 2.20%, 10/30/20
(Call 09/29/20)

     20,661       20,711,139  

American Express Credit Corp.

    

2.34%, 03/03/20 (Call 02/03/20),
(3 mo. LIBOR US + 0.430%)(a)

     3,000       3,000,000  

2.65%, 05/26/20 (Call 04/25/20),
(3 mo. LIBOR US + 0.730%)(a)

     2,906       2,910,822  

Capital One Bank USA N.A., 2.01%, 01/27/23 (Call 01/27/22)(c)

     27,500       27,588,282  
   

 

 

  
      54,210,243  
Electric — 1.4%            

Electricite de France SA, 2.35%, 10/13/20
(Call 09/13/20)(d)

     12,100       12,133,591  

NextEra Energy Capital Holdings Inc.

    

2.38%, 05/04/21, (3 mo. LIBOR
US + 0.480%)(a)

     10,000       10,019,865  

2.40%, 09/01/21

     5,925       5,986,412  

2.41%, 09/28/20, (3 mo. LIBOR
US + 0.450%)(a)

     9,000       9,018,686  

2.90%, 04/01/22

     2,260       2,313,158  

Series H, 3.34%, 09/01/20

     1,795       1,809,866  
   

 

 

  
      41,281,578  
Health Care – Services — 0.2%            

UnitedHealth Group Inc., 1.95%, 10/15/20

     5,000       5,011,258  
   

 

 

  
 

 

 

5

Schedule of Investments  (unaudited) (continued)

January 31, 2020

   

iShares® Ultra Short-Term Bond ETF

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Insurance — 1.7%            

Jackson National Life Global Funding

    

2.13%, 10/15/20, (3 mo. LIBOR
US + 0.300%)(a)(d)

   $ 5,000     $ 5,008,551  

2.15%, 01/06/23, (SOFRRATE + 0.600%)(a)(d)

     26,000       26,074,459  

Metropolitan Life Global Funding I,
2.10%, 01/13/23, (SOFRRATE + 0.570%)(a)(d)

       16,460       16,517,964  
   

 

 

  
      47,600,974  
Internet — 0.7%            

Tencent Holdings Ltd., 2.88%, 02/11/20(d)

     19,355       19,285,252  
   

 

 

  
Machinery — 1.3%            

Caterpillar Financial Services Corp.

    

1.88%, 11/12/21, (3 mo. LIBOR
US + 0.200%)(a)

     7,000       7,011,004  

2.12%, 03/15/21, (3 mo. LIBOR
US + 0.230%)(a)

     1,000       1,001,867  

2.17%, 08/26/20, (3 mo. LIBOR
US + 0.250%)(a)

     9,000       9,011,822  

2.19%, 03/08/21, (3 mo. LIBOR
US + 0.300%)(a)

     7,000       7,017,324  

2.90%, 03/15/21

     1,500       1,520,929  

Series I, 2.65%, 05/17/21

     3,810       3,861,943  

John Deere Capital Corp.

    

2.05%, 10/09/20, (3 mo. LIBOR
US + 0.170%)(a)

     3,000       3,002,430  

2.13%, 03/12/21, (3 mo. LIBOR
US + 0.240%)(a)

     1,000       1,001,088  

2.25%, 07/10/20, (3 mo. LIBOR
US + 0.420%)(a)

     3,000       3,005,083  
   

 

 

  
      36,433,490  
Manufacturing — 0.3%            

3M Co., 3.00%, 09/14/21 (Call 08/14/21)

     1,075       1,097,144  

Siemens Financieringsmaatschappij NV

    

2.15%, 05/27/20(d)

     3,000       3,005,327  

2.23%, 03/16/20, (3 mo. LIBOR
US + 0.340%)(a)(d)

     3,000       3,001,650  
   

 

 

  
      7,104,121  
Media — 0.4%            

Comcast Corp., 2.24%, 10/01/20,
(3 mo. LIBOR US + 0.330%)(a)

     2,000       2,003,934  

NBCUniversal Enterprise Inc., 2.31%, 04/01/21,
(3 mo. LIBOR US + 0.400%)(a)(d)

     5,000       5,020,584  

Walt Disney Co. (The), 2.16%, 09/01/21,
(3 mo. LIBOR US + 0.250%)(a)

     4,320       4,333,968  
   

 

 

  
      11,358,486  
Oil & Gas — 0.4%            

BP Capital Markets PLC, 2.16%, 11/24/20,
(3 mo. LIBOR US + 0.250%)(a)

     10,000       10,020,163  
   

 

 

  
Oil & Gas Services — 0.1%            

Schlumberger Finance Canada Ltd.,
2.65%, 11/20/22 (Call 10/20/22)(d)

     2,500       2,553,734  
   

 

 

  
Pharmaceuticals — 1.9%            

AbbVie Inc.

    

2.15%, 11/19/21(d)

     13,000       13,082,935  

2.24%, 05/21/21, (3 mo. LIBOR
US + 0.350%)(a)(d)

     9,000       9,020,845  

2.50%, 05/14/20 (Call 04/14/20)

     18,500         18,522,655  

Bristol-Myers Squibb Co., 2.88%, 08/15/20(d)

     12,500       12,573,685  

Pfizer Inc., 3.00%, 09/15/21

     1,670       1,709,190  
   

 

 

  
      54,909,310  
Pipelines — 0.5%            

Enterprise Products Operating LLC

    

2.85%, 04/15/21 (Call 03/15/21)

     5,716       5,775,555  

3.50%, 02/01/22

     7,565       7,817,626  

TransCanada PipeLines Ltd., 3.80%, 10/01/20

     1,886       1,909,403  
   

 

 

  
      15,502,584  
Security   Par
(000)		     Value  
Savings & Loans — 0.4%            

Nationwide Building Society,
2.00%, 01/27/23(d)

   $ 10,890     $ 10,951,223  
   

 

 

  
Semiconductors — 0.7%            

Lam Research Corp.

    

2.75%, 03/15/20 (Call 02/15/20)

     9,000       9,005,391  

2.80%, 06/15/21 (Call 05/15/21)

     9,905       10,043,518  
   

 

 

  
      19,048,909  
Software — 0.1%            

Adobe Inc., 1.70%, 02/01/23

     4,010       4,034,273  
   

 

 

  
Telecommunications — 1.0%            

BellSouth LLC, 4.33%, 04/26/21
(Call 04/26/20)(d)

     5,000       5,025,150  

Verizon Communications Inc.,
2.45%, 05/22/20, (3 mo. LIBOR US + 0.550%)(a)

       23,000       23,032,609  
   

 

 

  
      28,057,759  
Transportation — 0.5%            

Ryder System Inc.

    

2.25%, 09/01/21 (Call 08/01/21)

     4,186       4,211,891  

2.50%, 05/11/20 (Call 04/11/20)

     5,500       5,506,121  

2.88%, 06/01/22 (Call 05/01/22)

     4,899       5,011,228  
   

 

 

  
      14,729,240  
   

 

 

  

Total Corporate Bonds & Notes — 44.4%
(Cost: $1,263,029,660)

 

       1,268,671,080  
   

 

 

  

Municipal Debt Obligations

 

Michigan — 0.0%            

Michigan Finance Authority RB,
2.03%, 12/01/20

     450       450,139  
   

 

 

  

Total Municipal Debt Obligations — 0.0%
(Cost $450,000)

 

     450,139  
   

 

 

  

Repurchase Agreements

    

Bank of America Securities Inc., 1.94%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $17,002,748, collateralized by non-agency mortgage-backed security, 1.75% to 7.21%, due 07/25/28 to 11/26/29, par and fair value of $197,277,291 and $20,400,000, respectively)(a)(e)

     17,000       17,000,000  

Bank of America Securities Inc., 2.24%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $7,001,307, collateralized by non-agency mortgage-backed security, 6.50%, due 07/27/37, par and fair value of $24,305,929 and $8,050,000, respectively)(a)(e)

     7,000       7,000,000  

Barclays Bank PLC, 2.05%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $10,001,708, collateralized by non-agency mortgage-backed security, 1.90% to 1.91%, due 10/25/36 to 04/25/37, par and fair value of $17,728,248 and $11,500,000, respectively)(a)(e)

     10,000       10,000,000  

Barclays Bank PLC, 2.14%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $16,002,853, collateralized by non-agency mortgage-backed security, 2.23% to 7.49%, due 07/25/27 to 01/25/36, par and fair value of $38,772,570 and $18,400,000, respectively)(a)(e)

     16,000       16,000,000  
 

 

 

6

Schedule of Investments  (unaudited) (continued)

January 31, 2020

   

iShares® Ultra Short-Term Bond ETF

(Percentages shown are based on Net Assets)

 

Security  

 

Par
(000)

     Value  

Barclays Bank PLC, 2.22%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $10,001,850, collateralized by non-agency mortgage-backed security, 1.83% to 1.91%, due 10/25/36 to 04/25/37, par and fair value of $20,931,340 and $11,500,000, respectively)(a)(e)

   $  10,000     $  10,000,000  

Citigroup Global Markets Inc., 2.11%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $8,001,409, collateralized by non-agency mortgage-backed security, 0.00% to 5.50%, due 06/05/37 to 06/25/59, par and fair value of $8,984,118 and $9,203,747,
respectively)(a)(e)

     8,000       8,000,000  

Citigroup Global Markets Inc., 2.12%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $12,002,120, collateralized by non-agency mortgage-backed security, 0.00% to 5.50%, due 08/10/35 to 10/28/64, par and fair value of $13,271,366 and $13,800,000,
respectively)(a)(e)

     12,000       12,000,000  

Credit Suisse Securities (USA) LLC, 2.11%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $5,000,877, collateralized by non-agency mortgage-backed security, 1.73% to 5.98%, due 08/25/34 to 12/30/36, par and fair value of $15,456,736 and $5,750,000,
respectively)(a)(e)

     5,000       5,000,000  

Credit Suisse Securities (USA) LLC, 2.26%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $15,002,830, collateralized by non-agency mortgage-backed security, 4.13% to 5.25%, due 06/15/26 to 06/15/39, par and fair value of $13,857,000 and $15,750,928,
respectively)(a)(e)

     15,000       15,000,000  

JP Morgan Securities, 1.84%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $15,002,300, collateralized by non-agency mortgage-backed security, 2.80% to 7.88%, due 07/01/22 to 10/25/57, par and fair value of $15,688,276 and $16,275,598,
respectively)(a)(e)

     15,000       15,000,000  

JP Morgan Securities, 2.16%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $7,001,262, collateralized by non-agency mortgage-backed security, 2.33%, due 09/23/37, par and fair value of $10,260,000 and $7,490,023, respectively)(a)(e)

     7,000       7,000,000  

JP Morgan Securities, 2.21%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $12,002,210, collateralized by non-agency mortgage-backed security, 3.42% to 4.75%, due 04/15/25 to 04/25/45, par and fair value of $31,601,432 and $12,903,482,
respectively)(a)(e)

     12,000       12,000,000  
Security   Par/
Shares
(000)		     Value  

Mizuho Securities USA Inc., 2.2%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $6,001,100, collateralized by non-agency mortgage-backed security, 0.00%, due 04/20/31 to 07/15/39, par and fair value of $7,270,375 and $6,900,000,
respectively)(a)(e)

   $ 6,000     $ 6,000,000  

Wells Fargo Securities, 2.09%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $12,002,090, collateralized by non-agency mortgage-backed security, 1.75%, due 03/14/25, par and fair value of $12,066,000 and $12,240,481,
respectively)(a)(e)

     12,000       12,000,000  

Wells Fargo Securities, 2.13%, 02/03/20 (Purchased on 01/31/20 to be repurchased at $10,001,775, collateralized by non-agency mortgage-backed security, 1.75%, due 03/14/25, par and fair value of $10,055,000 and $10,200,401,
respectively)(a)(e)

     10,000       10,000,000  
   

 

 

  

Total Repurchase Agreements — 5.7%
(Cost: $162,000,000)

 

     162,000,000  
   

 

 

  

Money Market Funds

    

BlackRock Cash Funds: Treasury,
SL Agency Shares,
    1.50%(f)(g)

     6,797       6,797,000  
   

 

 

  

Total Money Market Funds — 0.2%
(Cost: $6,797,000)

 

     6,797,000  
   

 

 

  

Total Investments in Securities — 101.1%
(Cost: $2,885,632,868)

 

     2,892,290,077  

Other Assets, Less Liabilities — (1.1)%

 

     (31,856,190 ) 
   

 

 

  

Net Assets — 100.0%

     $   2,860,433,887  
   

 

 

  

 

(a) 

Variable or floating rate security. Rate shown is the rate in effect as of period-end.

(b) 

Rates are discount rates or a range of discount rates at the time of purchase.

(c) 

Security is issued at a fixed coupon rate, which converts to a variable rate at a specified date.

(d) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(e) 

Maturity date represents next reset date.

(f) 

Affiliate of the Fund.

(g) 

Annualized 7-day yield as of period-end.

 

 

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended January 31, 2020, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer     


 Shares
Held at
10/31/19
(000)		  
 
 
 		     
 Net Activity
(000)		  
 		     


 Shares
Held at
01/31/20
(000)		  
 
 
 		     
 Value at
01/31/20		  
 		      Income       

 Net Realized

Gain (Loss)

  

(a) 

     


 Change in
Unrealized
Appreciation
(Depreciation)		  
 
 
 

BlackRock Cash Funds: Treasury,
SL Agency Shares

      —        6,797        6,797      $ 6,797,000      $ 3,651,623      $ —      $ —  
           

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a)

Includes realized capital gain distributions from an affiliated fund, if any.

 

 

 

7

Schedule of Investments  (unaudited) (continued)

January 31, 2020

   

iShares® Ultra Short-Term Bond ETF

 

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at iShares.com and on the U.S. Securities and Exchange Commission website at sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of January 31, 2020. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

 

                                                                                                   
      Level 1        Level 2        Level 3        Total  

Investments

                  

Assets

                  

Asset-Backed Securities

    $ —        $ 52,730,591        $ —        $ 52,730,591  

Certificates of Deposit

      —          656,833,117          —          656,833,117  

Commercial Paper

      —          744,808,150          —          744,808,150  

Corporate Bonds & Notes

      —          1,268,671,080          —          1,268,671,080  

Municipal Debt Obligations

      —          450,139          —          450,139  

Repurchase Agreements

      —          162,000,000          —          162,000,000  

Money Market Funds

      6,797,000          —          —          6,797,000  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 6,797,000        $ 2,885,493,077        $ —        $ 2,892,290,077  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviations — Fixed Income
LIBOR    London Interbank Offered Rate
RB    Revenue Bond

 

 

8