Schedule of Investments (unaudited) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Municipal Debt Obligations | ||||||||
Alabama — 0.4% | ||||||||
Alabama Federal Aid Highway Finance Authority RB, Series H, 5.00%, 09/01/25 | $ | 555 | $ | 592,993 | ||||
Alabama Public School & College Authority RB, Series B, | ||||||||
5.00%, 05/01/25 | 410 | 434,047 | ||||||
City of Huntsville AL GOL | ||||||||
5.00%, 05/01/25 | 180 | 190,557 | ||||||
Series E, 5.00%, 11/01/25 | 115 | 123,398 | ||||||
University of Alabama (The) RB, Series B, 5.00%, 07/01/25 | 255 | 271,044 | ||||||
1,612,039 | ||||||||
Alaska — 0.2% | ||||||||
City of Anchorage AK Water Revenue RB, Series B, 5.00%, 05/01/25 | 145 | 153,636 | ||||||
Municipality of Anchorage AK GO | ||||||||
Series C, 5.00%, 09/01/25 | 65 | 69,500 | ||||||
Series D, 5.00%, 09/01/25 | 30 | 32,077 | ||||||
State of Alaska GO, Series B, 5.00%, 08/01/25 | 360 | 383,240 | ||||||
| 638,453 | |||||||
Arizona — 2.7% | ||||||||
Arizona Health Facilities Authority RB, 5.00%, 01/01/25 | 410 | 428,769 | ||||||
Arizona State University RB | ||||||||
5.00%, 07/01/25 | 320 | 340,756 | ||||||
Series A, 5.00%, 07/01/25 | 290 | 308,810 | ||||||
Series B, 5.00%, 07/01/25 | 245 | 260,891 | ||||||
Arizona Transportation Board RB | ||||||||
5.00%, 07/01/25 | 115 | 122,291 | ||||||
Series A, 5.00%, 07/01/25 | 350 | 372,616 | ||||||
City of Phoenix AZ GO, 5.00%, 07/01/25 | 505 | 537,386 | ||||||
City of Phoenix Civic Improvement Corp. RB | ||||||||
5.00%, 07/01/25 | 1,475 | 1,569,939 | ||||||
Series A, 5.00%, 07/01/25 | 615 | 654,649 | ||||||
Series D, 5.00%, 07/01/25 | 410 | 435,597 | ||||||
City of Tucson AZ Water System Revenue RB, 5.00%, 07/01/25 | 1,115 | 1,187,048 | ||||||
City of Tucson Water System Revenue, 5.00%, 07/01/25 | 175 | 186,308 | ||||||
County of Pima AZ GOL, 4.00%, 07/01/25 | 130 | 135,231 | ||||||
County of Pima AZ Sewer System Revenue RB, 5.00%, 07/01/25 | 530 | 563,861 | ||||||
Gilbert Water Resource Municipal Property Corp. RB, 5.00%, 07/01/25 | 145 | 154,369 | ||||||
Maricopa County Community College District GO, 5.00%, 07/01/25 | 720 | 766,525 | ||||||
Maricopa County High School District No. 210-Phoenix GO, 5.00%, 07/01/25 | 135 | 143,559 | ||||||
Maricopa County Unified School District No. 48 Scottsdale GO, Series A, 5.00%, 07/01/25 | 35 | 37,219 | ||||||
Maricopa County Unified School District No. 69 Paradise Valley GO, 5.00%, 07/01/25 | 140 | |||||||
Maricopa County Union High School District No. 210-Phoenix GO, 5.00%, 07/01/25 | 40 | 42,536 | ||||||
Salt River Project Agricultural Improvement & Power District RB | ||||||||
5.00%, 01/01/25 | 465 | 488,874 | ||||||
Series A, 5.00%, 01/01/25 | 2,025 | 2,128,966 | ||||||
State of Arizona Lottery Revenue RB, 5.00%, 07/01/25 | 200 | 212,729 | ||||||
University of Arizona (The) RB, 4.00%, 06/01/25 | 325 | 337,209 | ||||||
11,565,184 | ||||||||
California — 11.8% | ||||||||
Bay Area Toll Authority RB, 5.00%, 04/01/25 | 200 | 211,784 | ||||||
Beverly Hills Unified School District CA GO, 0.00%, 08/01/25(a) | 50 | 47,001 |
Security | Par (000) | Value | ||||||
California (continued) | ||||||||
California Educational Facilities Authority RB, Series A, 5.00%, 10/01/25 | $ | 90 | $ | 96,765 | ||||
California Infrastructure & Economic Development Bank RB | ||||||||
4.00%, 08/01/25 | 235 | 243,894 | ||||||
5.00%, 10/01/25 | 410 | 441,373 | ||||||
California State Public Works Board RB | ||||||||
4.00%, 10/01/25 | 115 | 120,244 | ||||||
5.00%, 05/01/25 | 265 | 281,502 | ||||||
5.00%, 09/01/25 | 220 | 235,919 | ||||||
5.00%, 11/01/25 | 595 | 641,091 | ||||||
5.00%, 12/01/25 | 280 | 302,413 | ||||||
Series A, 5.00%, 06/01/25 | 110 | 117,125 | ||||||
Series B, 5.00%, 04/01/25 | 100 | 105,979 | ||||||
Series B, 5.00%, 10/01/25 | 230 | 247,227 | ||||||
Series C, 5.00%, 11/01/25 | 125 | 134,683 | ||||||
Series D, 5.00%, 04/01/25 | 205 | 217,257 | ||||||
Series D, 5.00%, 06/01/25 | 240 | 255,546 | ||||||
California State University RB | ||||||||
5.00%, 11/01/25 | 450 | 485,233 | ||||||
Series A, 4.00%, 11/01/25 | 125 | 131,373 | ||||||
Series A, 5.00%, 11/01/25 | 1,845 | 1,989,459 | ||||||
Campbell Union High School District GO, Series B, 5.00%, 08/01/25 | 100 | 107,060 | ||||||
Carmel Unified School District Go, 4.00%, 08/01/25 | 100 | 104,638 | ||||||
City & County of San Francisco CA GO 5.00%, 06/15/25 | 25 | 26,691 | ||||||
Series R1, 5.00%, 06/15/25 | 585 | 624,565 | ||||||
City of Los Angeles CA GO, 5.00%, 09/01/25 | 255 | 273,718 | ||||||
City of Los Angeles CA Wastewater System Revenue RB 5.00%, 06/01/25 | 260 | 277,270 | ||||||
Series B, 5.00%, 06/01/25 | 335 | 357,251 | ||||||
City of Los Angeles Department of Airports, 5.00%, 05/15/25 | 170 | 180,550 | ||||||
City of Los Angeles Department of Airports RB | ||||||||
5.00%, 05/15/25 | 205 | 217,722 | ||||||
Series B, 5.00%, 05/15/25 | 190 | 201,809 | ||||||
Series C, 5.00%, 05/15/25 | 160 | 169,929 | ||||||
City of Redding CA Electric System Revenue RB, 5.00%, 06/01/25 | 100 | 106,008 | ||||||
City of San Francisco CA Public Utilities Commission Water Revenue RB, 5.00%, 11/01/25 | 520 | 561,149 | ||||||
Coast Community College District GO, 5.00%, 08/01/25 | 50 | 53,479 | ||||||
Contra Costa Transportation Authority RB, Series A, 5.00%, 03/01/25 | 210 | 222,172 | ||||||
County of Monterey CA COP, 5.00%, 10/01/25 | 280 | 299,767 | ||||||
County of Santa Clara CA GO, 5.00%, 08/01/25 | 180 | 192,707 | ||||||
East Bay Municipal Utility District Water System Revenue RB 5.00%, 06/01/25 | 80 | 85,276 | ||||||
Series A, 4.00%, 06/01/25 | 270 | 281,384 | ||||||
Series B, 5.00%, 06/01/25 | 545 | 580,943 | ||||||
Eastern Municipal Water District RB, Series A, 5.00%, 07/01/25 | 95 | 101,463 | ||||||
El Camino Community College District Foundation (The), 5.00%, 08/01/25 | 15 | 16,044 | ||||||
El Camino Community College District Foundation (The) GO, Series-C, 0.00%, 08/01/25(a) | 300 | 283,121 | ||||||
Escondido Union High School District GO, Series A, 0.00%, 08/01/25 (AGC)(a) | 60 | 56,262 | ||||||
Foothill-De Anza Community College District GO, Series B, 0.00%, 08/01/25 (NPFGC)(a) | 160 | 150,663 | ||||||
Hillsborough City School District RB, 0.00%, 09/01/25(a) | 250 | 235,123 | ||||||
Imperial Irrigation District Electric System Revenue RB, 5.00%, 11/01/25 | 125 | 134,301 |
1
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
California (continued) | ||||||||
Long Beach Community College District GO, 5.00%, 08/01/25 | $ | 100 | $ | 106,959 | ||||
Long Beach Unified School District GO, 5.00%, 08/01/25 | 175 | 187,222 | ||||||
Los Angeles Community College District/CA GO | ||||||||
4.00%, 08/01/25 | 170 | 177,843 | ||||||
5.00%, 08/01/25 | 95 | 101,803 | ||||||
Series C, 5.00%, 08/01/25 | 340 | 364,346 | ||||||
Los Angeles County Metropolitan Transportation Authority RB | ||||||||
5.00%, 07/01/25 | 560 | 598,289 | ||||||
Series A, 5.00%, 06/01/25 | 790 | 842,018 | ||||||
Series A, 5.00%, 07/01/25 | 110 | 117,510 | ||||||
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue RB | ||||||||
5.00%, 06/01/25 | 975 | 1,039,072 | ||||||
5.00%, 07/01/25 | 125 | 133,534 | ||||||
Los Angeles County Sanitation Districts Financing Authority RB, 5.00%, 10/01/25 | 310 | 331,221 | ||||||
Los Angeles Department of Water & Power Power System Revenue RB, 5.00%, 07/01/25 | 165 | 176,184 | ||||||
Los Angeles Department of Water & Power RB | ||||||||
5.00%, 07/01/25 | 75 | 80,084 | ||||||
Series A, 5.00%, 07/01/25 | 160 | 170,845 | ||||||
Los Angeles Department of Water & Power System Revenue RB | ||||||||
Series A, 5.00%, 07/01/25 | 80 | 85,423 | ||||||
Series C, 5.00%, 07/01/25 | 125 | 133,473 | ||||||
Los Angeles Department of Water & Power Water System Revenue RB, 5.00%, 07/01/25 | 130 | 138,939 | ||||||
Los Angeles Department of Water RB | ||||||||
5.00%, 07/01/25 | 105 | 112,220 | ||||||
Series B, 5.00%, 07/01/25 | 590 | 630,568 | ||||||
Los Angeles Unified School District/CA GO | ||||||||
4.00%, 07/01/25 | 140 | 146,137 | ||||||
5.00%, 07/01/25 | 570 | 608,497 | ||||||
Series A, 5.00%, 07/01/25 | 2,005 | 2,140,416 | ||||||
Los Rios Community College District GO | ||||||||
5.00%, 08/01/25 | 100 | 106,959 | ||||||
Series C, 4.00%, 08/01/25 | 100 | 104,599 | ||||||
Manhattan Beach Unified School District GO, 0.00%, 09/01/25 (NPFGC)(a) | 190 | 178,465 | ||||||
Metropolitan Water District of Southern California RB | ||||||||
5.00%, 01/01/25 | 290 | 305,840 | ||||||
5.00%, 07/01/25 | 220 | 234,859 | ||||||
5.00%, 10/01/25 | 95 | 102,295 | ||||||
Series A, 2.50%, 07/01/25 | 375 | 377,323 | ||||||
Series A, 5.00%, 07/01/25 | 420 | 448,527 | ||||||
Mount San Antonio Community College District GO, Series A, 0.00%, 08/01/25(a) | 310 | 292,198 | ||||||
Newport Mesa Unified School District GO, 0.00%, 08/01/25 (NPFGC)(a) | 225 | 212,236 | ||||||
Oak Grove School District GO, Series A, 0.00%, 08/01/25(a) | 25 | 23,512 | ||||||
Orange County Water District RB, Series C, 5.00%, 08/15/25 | 220 | 235,793 | ||||||
Palo Alto Unified School District GO, 0.00%, 08/01/25(a) | 580 | 548,450 | ||||||
Palomar Community College District, 5.00%, 08/01/44 (PR 08/01/25) | 500 | 534,541 | ||||||
Palomar Community College District GO, Series B, 0.00%, 08/01/25(a) | 325 | 303,854 | ||||||
Pasadena Area Community College District GO, Series A, 5.00%, 08/01/25 | 30 | 32,088 | ||||||
Rancho Water District Financing Authority RB, Series A, 5.00%, 08/01/25 | 190 | 203,413 | ||||||
Rio Hondo Community College District/CA GO, 5.00%, 08/01/25 | 85 | 91,065 |
Security | Par (000) | Value | ||||||
California (continued) | ||||||||
Riverside Community College District, 0.00%, 08/01/35 (PR 02/01/25)(a) | $ | 2,935 | $ | 1,681,042 | ||||
Riverside Community College District GO, Series D, 0.00%, 08/01/25(a) | 105 | 97,999 | ||||||
Riverside County Transportation Commission Sales Tax Revenue RB, 5.00%, 06/01/25 | 110 | 117,177 | ||||||
Sacramento City Financing Authority RB, 5.25%, 12/01/25 (AMBAC) | 25 | 27,072 | ||||||
Sacramento County Sanitation Districts Financing Authority RB | ||||||||
5.00%, 08/01/25 | 100 | 107,085 | ||||||
5.00%, 12/01/25 | 335 | 362,200 | ||||||
Sacramento Municipal Utility District RB | ||||||||
5.00%, 07/01/25 | 650 | 691,843 | ||||||
5.00%, 08/15/25 | 55 | 58,920 | ||||||
Series E, 5.00%, 08/15/25 | 210 | 224,967 | ||||||
San Diego Community College District GO, 5.00%, 08/01/25 | 280 | 299,767 | ||||||
San Diego County Regional Transportation Commission RB, Series A, 5.00%, 04/01/25 | 255 | 270,526 | ||||||
San Diego Public Facilities Financing Authority RB | ||||||||
Series A, 5.00%, 08/01/25 | 100 | 106,959 | ||||||
Series B, 5.00%, 08/01/25 | 350 | 374,355 | ||||||
San Diego Unified School District/CA GO | ||||||||
5.00%, 07/01/25 | 235 | 250,929 | ||||||
Series C-2, 5.50%, 07/01/25 (AGM) | 280 | 302,601 | ||||||
Series D-1, 5.50%, 07/01/25 (NPFGC) | 140 | 151,128 | ||||||
Series J-2, 4.00%, 07/01/25 | 150 | 156,359 | ||||||
Series J-2, 5.00%, 07/01/25 | 140 | 149,490 | ||||||
San Francisco Bay Area Rapid Transit District GO, 5.00%, 08/01/25 | 290 | 310,399 | ||||||
San Francisco City & County Airport Commission San Francisco International Airport RB, 5.00%, 05/01/25 | 395 | 418,524 | ||||||
San Francisco City & County Public Utilities Commission Wastewater Revenue RB | ||||||||
Series A, 4.00%, 10/01/25 | 275 | 288,268 | ||||||
Series A, 5.00%, 10/01/25 | 205 | 220,686 | ||||||
San Francisco County Transportation Authority RB, 4.00%, 02/01/25 | 115 | 119,123 | ||||||
San Jose Evergreen Community College District GO, 5.00%, 09/01/25 | 125 | 134,175 | ||||||
San Jose Unified School District GO, Series C, 0.00%, 08/01/25 (NPFGC)(a) | 170 | 160,040 | ||||||
San Mateo County Community College District GO | ||||||||
Series A, 0.00%, 09/01/25 (NPFGC)(a) | 130 | 122,670 | ||||||
Series B, 0.00%, 09/01/25 (NPFGC)(a) | 425 | 401,036 | ||||||
San Mateo Foster City Public Financing Authority RB | ||||||||
Series B, 5.00%, 08/01/25 | 1,065 | 1,139,915 | ||||||
Series-A, 5.00%, 08/01/25 | 355 | 379,972 | ||||||
San Mateo Union High School District GO, 0.00%, 09/01/25 (NPFGC)(a) | 300 | 280,070 | ||||||
Santa Clara Valley Transportation Authority RB, Series A, 5.00%, 06/01/25 | 665 | 708,701 | ||||||
Santa Monica-Malibu Unified School District GO, 4.00%, 08/01/25 | 125 | 130,674 | ||||||
Sequoia Union High School District GO | ||||||||
4.00%, 07/01/25 | 220 | 229,814 | ||||||
5.00%, 07/01/25 | 510 | 544,694 | ||||||
Southern California Public Power Authority RB, 5.00%, 07/01/25 | 150 | 160,241 | ||||||
State of California Department of Water Resources RB | ||||||||
5.00%, 12/01/25 | 460 | 497,745 | ||||||
Series AW, 5.00%, 12/01/25 | 100 | 108,206 | ||||||
Series AX, 5.00%, 12/01/25 | 330 | 357,078 |
2
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
California (continued) | ||||||||
Series BA, 5.00%, 12/01/25 | $ | 50 | $ | 54,103 | ||||
State of California GO | ||||||||
4.00%, 03/01/25 | 20 | 20,747 | ||||||
4.00%, 09/01/25 | 495 | 518,456 | ||||||
4.00%, 10/01/25 | 200 | 209,808 | ||||||
4.00%, 11/01/25 | 250 | 262,678 | ||||||
5.00%, 03/01/25 | 270 | 285,480 | ||||||
5.00%, 04/01/25 | 385 | 408,020 | ||||||
5.00%, 08/01/25 | 1,960 | 2,096,882 | ||||||
5.00%, 09/01/25 | 2,300 | 2,466,426 | ||||||
5.00%, 10/01/25 | 2,285 | 2,456,148 | ||||||
5.00%, 11/01/25 | 1,090 | 1,174,435 | ||||||
5.00%, 12/01/25 | 60 | 64,803 | ||||||
Series B, 5.00%, 08/01/25 | 770 | 823,775 | ||||||
Series B, 5.00%, 09/01/25 | 185 | 198,386 | ||||||
University of California RB | ||||||||
5.00%, 05/15/25 | 250 | 266,207 | ||||||
Series AO, 5.00%, 05/15/25 | 350 | 372,689 | ||||||
Series AY, 5.00%, 05/15/25 | 180 | 191,669 | ||||||
Series I, 5.00%, 05/15/25 | 445 | 473,642 | ||||||
Upper Santa Clara Valley Joint Powers Authority RB, Series A, 5.00%, 08/01/25 | 85 | 91,001 | ||||||
Whittier Union High School District GO, 0.00%, 08/01/25(a) | 290 | 271,733 | ||||||
49,815,091 | ||||||||
Colorado — 0.8% | ||||||||
Board of Governors of Colorado State University System RB, Series C, 2.50%, 03/01/25 | 25 | 25,032 | ||||||
Board of Water Commissioners City & County of Denver (The) RB, Series A, 4.00%, 09/15/25 | 85 | 88,919 | ||||||
City & County of Denver Co. Airport System Revenue RB 5.00%, 11/15/25 | 165 | 177,331 | ||||||
Series A, 5.00%, 11/15/25 | 300 | 322,420 | ||||||
City of Colorado Springs CO Utilities System Revenue RB, Series A-1, 5.00%, 11/15/25 | 425 | 457,120 | ||||||
City of Colorado Springs Co. Utilities System Revenue RB, 5.00%, 11/15/25 | 425 | 457,120 | ||||||
Colorado Health Facilities Authority, 5.00%, 11/01/25 | 100 | 105,413 | ||||||
County of Adams Co. COP, 5.00%, 12/01/25 | 130 | 139,515 | ||||||
Denver City & County School District No. 1 COP, Series A, 5.00%, 12/01/25 | 205 | 220,179 | ||||||
Denver City & County School District No. 1 GO 5.00%, 12/01/25 (SAW) | 340 | 366,145 | ||||||
Series A, 5.50%, 12/01/25 (SAW) | 335 | 365,333 | ||||||
E-470 Public Highway Authority RB, Series B, 0.00%, 09/01/25 (NPFGC)(a) | 270 | 251,345 | ||||||
State of Colorado COP | ||||||||
Series K, 5.00%, 03/15/25 | 170 | 179,000 | ||||||
Series L, 5.00%, 03/15/25 | 25 | 26,324 | ||||||
University of Colorado RB, Series A, 5.00%, 06/01/25 (NPFGC) | 375 | 398,233 | ||||||
3,579,429 | ||||||||
Connecticut — 1.9% | ||||||||
State of Connecticut Clean Water Fund - State Revolving Fund RB, 5.00%, 02/01/25 | 120 | 126,394 | ||||||
State of Connecticut GO | ||||||||
4.00%, 06/01/25 | 345 | 358,279 | ||||||
5.00%, 09/15/25 | 1,100 | 1,176,255 | ||||||
5.00%, 11/15/25 | 100 | 107,417 | ||||||
Series A, 5.00%, 01/15/25 | 1,500 | 1,577,478 | ||||||
Series A, 5.00%, 04/15/25 | 170 | 179,759 | ||||||
Series B, 3.00%, 06/01/25 | 100 | 101,593 |
Security | Par (000) | Value | ||||||
Connecticut (continued) | ||||||||
Series B, 5.00%, 05/15/25 | $ | 335 | $ | 355,018 | ||||
Series B, 5.00%, 06/15/25 | 125 | 132,767 | ||||||
Series C, 5.00%, 06/15/25 | 360 | 382,369 | ||||||
Series E, 5.00%, 09/15/25 | 465 | 497,235 | ||||||
Series E, 5.00%, 10/15/25 | 170 | 182,194 | ||||||
Series F, 5.00%, 11/15/25 | 390 | 418,927 | ||||||
State of Connecticut Special Tax Revenue RB 5.00%, 10/01/25 | 130 | 139,422 | ||||||
Series A, 5.00%, 01/01/25 | 245 | 257,579 | ||||||
Series A, 5.00%, 08/01/25 | 195 | 208,176 | ||||||
Series A, 5.00%, 09/01/25 | 450 | 481,506 | ||||||
Series B, 5.00%, 08/01/25 | 160 | 170,811 | ||||||
Series B, 5.00%, 10/01/25 | 225 | 241,308 | ||||||
University of Connecticut RB | ||||||||
5.00%, 11/01/25 | 195 | 209,186 | ||||||
5.00%, 11/15/25 | 100 | 107,417 | ||||||
Series A, 5.00%, 02/15/25 | 525 | 552,597 | ||||||
7,963,687 | ||||||||
Delaware — 1.6% | ||||||||
City of Wilmington DE GO, 5.00%, 12/01/25 | 20 | 21,481 | ||||||
County of New Castle DE GO | ||||||||
5.00%, 10/01/33 (PR 10/01/25) | 1,565 | 1,678,007 | ||||||
5.00%, 10/01/35 (PR 10/01/25) | 2,260 | 2,423,192 | ||||||
Delaware Transportation Authority, 5.00%, 09/01/25 | 335 | 358,629 | ||||||
Delaware Transportation Authority RB | ||||||||
4.00%, 07/01/25 | 100 | 104,125 | ||||||
5.00%, 07/01/25 | 635 | 676,805 | ||||||
State of Delaware GO | ||||||||
5.00%, 03/01/25 | 235 | 248,227 | ||||||
5.00%, 10/01/25 | 165 | 177,136 | ||||||
Series 2009C, 5.00%, 10/01/25 | 790 | 848,107 | ||||||
Series A, 5.00%, 02/01/25 | 100 | 105,389 | ||||||
6,641,098 | ||||||||
District of Columbia — 1.9% | ||||||||
District of Columbia, Series C, 5.00%, 05/01/25 | 355 | 376,785 | ||||||
District of Columbia GO | ||||||||
5.00%, 02/01/25 | 650 | 685,420 | ||||||
Series A, 5.00%, 06/01/25 | 460 | 489,580 | ||||||
Series A, 5.00%, 10/15/25 | 945 | 1,016,396 | ||||||
Series B, 5.00%, 06/01/25 | 430 | 457,650 | ||||||
Series D, 5.00%, 06/01/25 | 180 | 191,574 | ||||||
Series E, 5.00%, 06/01/25 | 315 | 335,255 | ||||||
District of Columbia RB | ||||||||
5.00%, 12/01/25 | 150 | 161,235 | ||||||
Series A, 5.00%, 03/01/25 | 180 | 190,169 | ||||||
Series A, 5.00%, 12/01/25 | 250 | 269,725 | ||||||
Series B, 5.00%, 10/01/25 | 485 | 520,804 | ||||||
Series C, 5.00%, 10/01/25 | 875 | 939,595 | ||||||
District of Columbia Water & Sewer Authority RB 5.00%, 10/01/25 | 45 | 48,249 | ||||||
Series A, 5.00%, 10/01/25 | 550 | 589,715 | ||||||
Series B, 5.00%, 10/01/25 | 295 | 316,381 | ||||||
Metropolitan Washington Airports Authority Aviation Revenue RB, 5.00%, 10/01/25 | ||||||||
Washington Metropolitan Area Transit Authority, 5.00%, 07/01/25 | 475 | 505,347 | ||||||
Washington Metropolitan Area Transit Authority RB | ||||||||
Series A, 5.00%, 07/15/25 | 225 | 239,630 | ||||||
Series A1, 5.00%, 07/01/25 | 335 | 356,403 | ||||||
7,904,140 |
3
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Florida — 2.9% | ||||||||
Central Florida Expressway Authority RB, 5.00%, 07/01/25 | $ | 140 | $ | 148,707 | ||||
County of Miami-Dade FL Aviation Revenue RB 5.00%, 10/01/25 | 120 | 128,215 | ||||||
Series B, 5.00%, 10/01/25 | 275 | 293,825 | ||||||
County of Miami-Dade FL GO, Series-D, 5.00%, 07/01/25 | 255 | 271,415 | ||||||
County of Miami-Dade FL Water & Sewer System Revenue RB, 5.00%, 10/01/25 | 985 | 1,056,126 | ||||||
County of Orange FL Water Utility System Revenue RB, 5.00%, 10/01/25 | 385 | 413,007 | ||||||
County of Seminole FL Sales Tax Revenue RB, Series B, 5.25%, 10/01/25 (NPFGC) | 80 | 86,378 | ||||||
Florida Department of Environmental Protection RB 5.00%, 07/01/25 | 1,633 | 1,735,744 | ||||||
Series A, 5.00%, 07/01/25 | 350 | 372,021 | ||||||
Florida Department of Management Services COP, Series A, 5.00%, 08/01/25 | 465 | 496,303 | ||||||
Florida State Development Commission/Everglades Parkway RB, Series A, 5.00%, 07/01/25 | 80 | 85,072 | ||||||
Hillsborough County Aviation Authority RB, 5.00%, 10/01/25 | 200 | 214,227 | ||||||
Hillsborough County School Board COP, Series A, 5.00%, 07/01/25 | 185 | 195,923 | ||||||
Orange County School Board COP, 5.00%, 08/01/25 | 50 | 53,228 | ||||||
Palm Beach County School District, 5.00%, 08/01/25 | 500 | 532,278 | ||||||
Palm Beach County School District COP, Series B, 5.00%, 08/01/25 | 165 | 175,652 | ||||||
School Board of Miami-Dade County (The) COP, Series A, 5.00%, 05/01/25 | 450 | 473,861 | ||||||
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/25 | 355 | 373,870 | ||||||
School District of Broward County/FL COP | ||||||||
Series A, 5.00%, 07/01/25 | 165 | 175,181 | ||||||
Series C, 5.00%, 07/01/25 | 180 | 191,107 | ||||||
School District of Broward County/FL GO, 5.00%, 07/01/25 | 180 | 190,933 | ||||||
State of Florida Department of Transportation RB, 5.00%, 07/01/25 | 375 | 398,916 | ||||||
State of Florida Department of Transportation Turnpike System Revenue RB | ||||||||
5.00%, 07/01/25 | 235 | 250,185 | ||||||
Series A, 5.00%, 07/01/25 | 695 | 739,909 | ||||||
Series-B, 5.00%, 07/01/25 | 165 | 175,662 | ||||||
State of Florida GO | ||||||||
5.00%, 06/01/25 | 35 | 37,234 | ||||||
5.00%, 07/01/25 | 280 | 298,638 | ||||||
Series A, 5.00%, 06/01/25 | 302 | 321,277 | ||||||
Series A, 5.00%, 07/01/25 | 50 | 53,328 | ||||||
Series B, 5.00%, 06/01/25 | 310 | 329,789 | ||||||
Series B, 5.00%, 07/01/25 | 35 | 37,330 | ||||||
Series C, 5.00%, 06/01/25 | 295 | 313,831 | ||||||
Series D, 5.00%, 06/01/25 | 85 | 90,426 | ||||||
State of Florida Lottery Revenue RB | ||||||||
5.00%, 07/01/25 | 570 | 606,002 | ||||||
Series A, 5.00%, 07/01/25 | 410 | 435,896 | ||||||
Series B, 5.00%, 07/01/25 | 290 | 308,316 | ||||||
Tampa Bay Water RB, Series C, 5.00%, 10/01/25 | 90 | 96,137 | ||||||
Volusia County School Board COP, Series A, 5.00%, 08/01/25 (BAM) | 90 | 95,787 | ||||||
12,251,736 | ||||||||
Georgia — 2.9% | ||||||||
Association County Commissioners of Georgia COP, 5.00%, 07/15/25 | 575 | 612,956 | ||||||
City of Atlanta GA, 5.00%, 12/01/25 | 250 | 269,510 |
Security | Par (000) | Value | ||||||
Georgia (continued) | ||||||||
City of Atlanta GA Department of Aviation RB 5.00%, 07/01/25 | $ | 300 | $ | 319,167 | ||||
Series A, 5.00%, 07/01/25 | 135 | 143,625 | ||||||
City of Atlanta GA Water & Wastewater Revenue RB 5.75%, 11/01/25 (AGM) | 195 | 213,387 | ||||||
Series B, 5.00%, 11/01/25 | 245 | 263,230 | ||||||
County of Forsyth GA GO, 5.00%, 09/01/25 | 110 | 117,787 | ||||||
Forsyth County School District GO, 5.00%, 02/01/25 | 155 | 163,353 | ||||||
Georgia State Road & Tollway Authority RB, 5.00%, 06/01/25 | 990 | 1,050,407 | ||||||
Gwinnett County School District GO | ||||||||
5.00%, 02/01/25 | 620 | 653,411 | ||||||
5.00%, 08/01/25 | 330 | 352,631 | ||||||
Gwinnett County Water & Sewerage Authority RB, 5.00%, 08/01/25 | 295 | 315,230 | ||||||
Henry County School District, 4.00%, 08/01/25 (SAW) | 125 | 130,363 | ||||||
Henry County School District GO, 5.00%, 08/01/25 (SAW) | 300 | 320,196 | ||||||
Henry County Water Authority RB, 5.00%, 02/01/25 | 250 | 263,171 | ||||||
Metropolitan Atlanta Rapid Transit Authority RB | ||||||||
5.25%, 07/01/25 (NPFGC) | 100 | 107,070 | ||||||
Series A, 4.00%, 07/01/25 | 350 | 364,437 | ||||||
Municipal Electric Authority of Georgia RB, 5.00%, 01/01/25 | 145 | 150,919 | ||||||
Private Colleges & Universities Authority RB | ||||||||
Series B, 5.00%, 09/01/25 | 1,115 | 1,194,808 | ||||||
Series B, 5.00%, 10/01/25 | 425 | 456,489 | ||||||
State of Georgia GO | ||||||||
5.00%, 07/01/25 | 250 | 266,458 | ||||||
Series A, 5.00%, 02/01/25 | 820 | 864,024 | ||||||
Series A, 5.00%, 07/01/25 | 135 | 143,888 | ||||||
Series A1, 5.00%, 02/01/25 | 745 | 784,998 | ||||||
Series A-1, 5.00%, 02/01/25 | 105 | 110,637 | ||||||
Series C1, 4.00%, 01/01/25 | 840 | 867,479 | ||||||
Series C1, 4.00%, 07/01/25 | 380 | 396,130 | ||||||
Series E, 5.00%, 12/01/25 | 1,135 | 1,223,901 | ||||||
Series F, 5.00%, 07/01/25 | 165 | 175,863 | ||||||
12,295,525 | ||||||||
Hawaii — 1.8% | ||||||||
City & County Honolulu HI Wastewater System Revenue RB 5.00%, 07/01/25 | 960 | 1,021,607 | ||||||
Series A, 5.00%, 07/01/45 (PR 01/01/26) | 600 | 636,733 | ||||||
Series B, 5.00%, 07/01/25 | 250 | 266,154 | ||||||
City & County of Honolulu HI GO | ||||||||
4.00%, 08/01/25 | 75 | 78,255 | ||||||
5.00%, 09/01/25 | 320 | 342,404 | ||||||
Series A, 5.00%, 10/01/25 | 245 | 262,757 | ||||||
Series B, 5.00%, 09/01/25 | 350 | 374,505 | ||||||
Series C, 5.00%, 10/01/25 | 65 | 69,711 | ||||||
Series E, 5.00%, 09/01/25 | 270 | 288,904 | ||||||
County of Hawaii HI GO, Series D, 5.00%, 09/01/25 | 550 | 588,222 | ||||||
State of Hawaii GO | ||||||||
5.00%, 01/01/25 | 150 | 157,701 | ||||||
5.00%, 10/01/25 | 455 | 487,734 | ||||||
Series EZ, 5.00%, 10/01/25 | 380 | 407,337 | ||||||
Series FE, 5.00%, 10/01/25 | 425 | 455,575 | ||||||
Series FH, 5.00%, 10/01/25. | 210 | 225,108 | ||||||
Series FK, 5.00%, 05/01/25 | 365 | 386,820 | ||||||
Series FN, 5.00%, 10/01/25. | 580 | 621,725 | ||||||
Series FT, 5.00%, 01/01/25 | 185 | 194,498 | ||||||
State of Hawaii State Highway Fund RB | ||||||||
Series A, 4.00%, 01/01/25 | 135 | 139,288 | ||||||
Series B, 5.00%, 01/01/25 | 330 | 346,625 |
4
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Hawaii (continued) | ||||||||
University of Hawaii RB | ||||||||
5.00%, 10/01/25 | $ | 90 | $ | 96,233 | ||||
Series B, 5.00%, 10/01/25 | 115 | 122,965 | ||||||
7,570,861 | ||||||||
Idaho — 0.3% | ||||||||
Idaho Housing & Finance Association RB, 5.00%, 07/15/25 | 1,060 | 1,126,572 | ||||||
Illinois — 2.6% | ||||||||
Chicago O’Hare International Airport RB | ||||||||
5.00%, 01/01/25 | 930 | 975,066 | ||||||
Series C, 5.00%, 01/01/25 | 225 | 235,903 | ||||||
Series F, 5.00%, 01/01/25 | 150 | 157,269 | ||||||
County of Will IL GO, 5.00%, 11/15/41 (PR 11/15/25) | 2,000 | 2,134,630 | ||||||
Illinois Finance Authority RB | ||||||||
4.00%, 07/01/25 | 870 | 901,106 | ||||||
5.00%, 01/01/25 | 205 | 215,288 | ||||||
5.00%, 07/01/25 | 455 | 484,069 | ||||||
5.00%, 12/01/25 | 450 | 484,090 | ||||||
Illinois State Toll Highway Authority RB | ||||||||
5.00%, 01/01/25 | 155 | 162,690 | ||||||
Series A, 5.00%, 01/01/25 | 50 | 52,481 | ||||||
Series B, 5.00%, 01/01/25 | 420 | 440,836 | ||||||
Sales Tax Securitization Corp. RB, Series A, 5.00%, 01/01/25 | 500 | 522,984 | ||||||
State of Illinois GO | ||||||||
5.00%, 01/01/25 | 155 | 161,003 | ||||||
5.00%, 02/01/25 | 320 | 332,880 | ||||||
5.00%, 10/01/25 | 100 | 105,111 | ||||||
5.50%, 05/01/25 | 210 | 221,599 | ||||||
Series A, 5.00%, 03/01/25 | 510 | 531,246 | ||||||
Series B, 5.00%, 03/01/25 | 800 | 832,348 | ||||||
Series D, 5.00%, 11/01/25 | 1,925 | 2,025,833 | ||||||
State of Illinois Sales Tax Revenue RB, 5.00%, 06/15/25 | 200 | 207,107 | ||||||
11,183,539 | ||||||||
Indiana — 1.6% | ||||||||
City of Indianapolis Department of Public Utilities Water System Revenue RB, 5.00%, 10/01/25 | 360 | 384,451 | ||||||
Indiana Finance Authority RB | ||||||||
5.00%, 02/01/25 | 1,100 | 1,159,720 | ||||||
5.00%, 02/01/31 (PR 02/01/25) | 2,230 | 2,347,934 | ||||||
Series B, 5.00%, 02/01/25 | 460 | 484,974 | ||||||
Series C, 5.00%, 12/01/25 | 785 | 844,467 | ||||||
Indiana University RB, 5.00%, 06/01/25 | 580 | 615,661 | ||||||
Indianapolis Local Public Improvement Bond Bank RB, 5.00%, 01/01/25 | 110 | 115,394 | ||||||
Purdue University COP, Series A, 5.00%, 07/01/25 | 115 | 122,375 | ||||||
Purdue University RB | ||||||||
4.00%, 07/01/25 | 90 | 93,669 | ||||||
5.00%, 07/01/25 | 435 | 462,897 | ||||||
Series A, 5.25%, 07/01/25 | 190 | 203,295 | ||||||
6,834,837 | ||||||||
Iowa — 0.5% | ||||||||
County of Polk IA GO, 5.00%, 06/01/25 | 185 | 196,331 | ||||||
Iowa Finance Authority RB, 5.00%, 08/01/25 | 490 | 522,863 | ||||||
State of Iowa GO | ||||||||
5.00%, 06/15/25 | 520 | 552,063 | ||||||
Series-A, 5.00%, 06/01/25 | 250 | 265,196 | ||||||
State of Iowa RB, Series A, 5.00%, 06/01/25 | 420 | 445,528 | ||||||
1,981,981 | ||||||||
Kansas — 0.9% | ||||||||
County of Johnson KS, 5.00%, 09/01/25 | 205 | 219,193 |
Security | Par (000) | Value | ||||||
Kansas (continued) | ||||||||
Johnson County Public Building Commission RB 5.00%, 09/01/25 | $ | 180 | $ | 192,041 | ||||
Series A, 5.00%, 09/01/25 | 265 | 282,728 | ||||||
Johnson County Unified School District No. 512 Shawnee Mission GO | ||||||||
5.00%, 10/01/30 (PR 10/01/25) | 510 | 546,827 | ||||||
5.00%, 10/01/31 (PR 10/01/25) | 800 | 857,767 | ||||||
Series B, 5.00%, 10/01/25 | 250 | 268,254 | ||||||
Sedgwick County Unified School District No. 265 Goddard GO, Series B, 5.00%, 10/01/25 | 20 | 21,390 | ||||||
State of Kansas Department of Transportation RB 5.00%, 09/01/25 | 975 | 1,041,996 | ||||||
Series A, 5.00%, 09/01/25 | 515 | 550,388 | ||||||
3,980,584 | ||||||||
Kentucky — 0.1% | ||||||||
Louisville and Jefferson County Metropolitan Sewer District RB, 5.00%, 05/15/25 | 295 | 312,899 | ||||||
Louisiana — 0.5% | ||||||||
State of Louisiana Gasoline & Fuels Tax Revenue RB, Series B, 5.00%, 05/01/25 | 395 | 418,346 | ||||||
State of Louisiana GO | ||||||||
5.00%, 09/01/25 | 95 | 101,479 | ||||||
Series A, 5.00%, 03/01/25 | 110 | 116,030 | ||||||
Series A, 5.00%, 09/01/25 | 310 | 331,140 | ||||||
Series B, 5.00%, 05/01/25 | 40 | 42,364 | ||||||
Series B, 5.00%, 08/01/25 | 370 | 394,536 | ||||||
State of Louisiana RB, 5.00%, 09/01/25 | 665 | 710,349 | ||||||
2,114,244 | ||||||||
Maine — 0.9% | ||||||||
Maine Governmental Facilities Authority RB, 5.00%, 10/01/25 | 105 | 112,469 | ||||||
Maine Municipal Bond Bank RB | ||||||||
5.00%, 11/01/25 | 400 | 428,988 | ||||||
Series A, 5.00%, 09/01/25 | 290 | 309,325 | ||||||
Series B, 5.00%, 11/01/25 | 185 | 198,407 | ||||||
State of Maine GO | ||||||||
5.00%, 06/01/25 | 140 | 148,870 | ||||||
Series B, 5.00%, 06/01/25 | 2,275 | 2,419,150 | ||||||
3,617,209 | ||||||||
Maryland — 3.8% | ||||||||
City of Baltimore MD RB | ||||||||
5.00%, 07/01/25 | 295 | 313,632 | ||||||
Series A, 5.00%, 07/01/25 | 190 | 202,000 | ||||||
County of Anne Arundel MD GOL | ||||||||
5.00%, 04/01/25 | 200 | 211,740 | ||||||
5.00%, 10/01/25 | 1,470 | 1,578,124 | ||||||
County of Baltimore MD GO | ||||||||
5.00%, 03/01/25 | 550 | 580,957 | ||||||
5.00%, 08/01/25. | 125 | 133,572 | ||||||
County of Charles MD GO, 5.00%, 10/01/25 | 85 | 91,252 | ||||||
County of Frederick MD, 5.00%, 08/01/25 | 300 | 320,336 | ||||||
County of Howard MD GO | ||||||||
5.00%, 08/15/25 | 285 | 304,875 | ||||||
Series A, 5.00%, 02/15/25 | 365 | 385,008 | ||||||
County of Montgomery MD COP, Series B, 5.00%, 04/01/25 | 100 | 105,848 | ||||||
County of Montgomery MD GO | ||||||||
5.00%, 11/01/25 | 1,075 | 1,156,778 | ||||||
Series C, 5.00%, 10/01/25 | 175 | 187,872 | ||||||
Series D, 4.00%, 11/01/25 | 540 | 566,305 |
5
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Maryland (continued) | ||||||||
County of Prince George’s MD GOL | ||||||||
5.00%, 07/15/25 | $ | 1,505 | $ | 1,606,205 | ||||
Series A, 5.00%, 07/01/25 | 250 | 266,519 | ||||||
Series A, 5.00%, 07/15/25 | 305 | 325,510 | ||||||
Series B, 5.00%, 07/15/25 | 95 | 101,388 | ||||||
State of Maryland Department of Transportation RB | ||||||||
4.00%, 09/01/25 | 425 | 443,933 | ||||||
5.00%, 05/01/25 | 95 | 100,808 | ||||||
5.00%, 09/01/25 | 315 | 337,383 | ||||||
5.00%, 10/01/25 | 505 | 542,145 | ||||||
5.00%, 12/01/25 | 130 | 139,997 | ||||||
State of Maryland GO | ||||||||
Second Series A, 5.00%, 08/01/25 | 435 | 464,831 | ||||||
Second Series B, 5.00%, 08/01/25 | 365 | 390,031 | ||||||
Series A, 5.00%, 03/15/25 | 175 | 185,048 | ||||||
Series A, 5.00%, 08/01/25 | 405 | 432,774 | ||||||
Series B, 4.00%, 08/01/25 | 335 | 349,789 | ||||||
Series B, 5.00%, 08/01/25 | 2,045 | 2,185,241 | ||||||
Washington Suburban Sanitary Commission GO | ||||||||
4.00%, 06/01/25 (GTD) | 65 | 67,620 | ||||||
5.00%, 06/01/25 (GTD) | 545 | 579,661 | ||||||
Washington Suburban Sanitary Commission RB | ||||||||
4.00%, 06/01/25 (GTD) | 485 | 504,549 | ||||||
5.00%, 06/01/25 (GTD) | 345 | 366,941 | ||||||
5.00%, 06/15/25 (GTD) | 315 | 335,400 | ||||||
5.00%, 12/01/25 (GTD) | 225 | 242,688 | ||||||
16,106,760 | ||||||||
Massachusetts — 3.3% | ||||||||
City of Boston MA GO, Series A, 5.00%, 11/01/25 | 200 | 215,215 | ||||||
Commonwealth of Massachusetts GO, Series A, 5.00%, 01/01/25 | 235 | 247,110 | ||||||
Commonwealth of Massachusetts GOL | ||||||||
5.00%, 07/01/25 | 120 | 127,900 | ||||||
Series A, 5.00%, 07/01/25 | 275 | 293,104 | ||||||
Series B, 5.00%, 04/01/25 | 160 | 169,357 | ||||||
Series B, 5.00%, 07/01/25 | 235 | 250,471 | ||||||
Series B, 5.00%, 11/01/25 | 250 | 268,949 | ||||||
Series B, 5.25%, 09/01/25 (AGM) | 415 | 446,970 | ||||||
Series C, 5.00%, 08/01/25 | 840 | 897,393 | ||||||
Series C, 5.00%, 09/01/25 | 135 | 144,557 | ||||||
Series C, 5.00%, 10/01/25 | 935 | 1,003,521 | ||||||
Series D, 5.00%, 07/01/25 | 635 | 676,804 | ||||||
Series E, 5.00%, 11/01/25 | 225 | 242,054 | ||||||
Series E, 5.00%, 11/01/25 (AMBAC) | 180 | 193,643 | ||||||
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/25 | 240 | 254,925 | ||||||
Massachusetts Bay Transportation Authority RB, Series A, 5.00%, 07/01/25 | 990 | 1,054,693 | ||||||
Massachusetts Clean Water Trust (The) RB | ||||||||
5.00%, 08/01/25. | 1,520 | 1,624,621 | ||||||
Series 22, 5.00%, 08/01/25 | 95 | 101,515 | ||||||
Massachusetts Development Finance Agency RB | ||||||||
Series A, 5.00%, 07/15/25 | 685 | 730,386 | ||||||
Series A, 5.00%, 10/15/25 | 250 | 268,274 | ||||||
Massachusetts School Building Authority RB | ||||||||
5.00%, 01/15/25 | 130 | 136,689 | ||||||
5.00%, 02/15/25 | 150 | 158,069 | ||||||
Series A, 5.00%, 11/15/41 (PR 11/15/25) | 250 | 268,928 | ||||||
Series A, 5.00%, 11/15/45 (PR 11/15/25) | 2,475 | 2,662,387 | ||||||
Series C, 5.00%, 08/15/25 | 260 | 277,733 |
Security | Par (000) | Value | ||||||
Massachusetts (continued) | ||||||||
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue RB, 5.00%, 01/01/25 | $ | 455 | $ | 478,273 | ||||
Massachusetts Water Resources Authority | ||||||||
5.00%, 08/01/25 | 110 | 117,460 | ||||||
5.00%, 08/01/25 (ETM) | 25 | 26,620 | ||||||
Massachusetts Water Resources Authority RB | ||||||||
5.00%, 08/01/25 | 300 | 320,347 | ||||||
Series B, 5.25%, 08/01/25 (AGM) | 15 | 16,123 | ||||||
Series C, 5.00%, 08/01/25 | 10 | 10,678 | ||||||
Town of Watertown MA GOL, 5.00%, 02/01/25 | 225 | 237,125 | ||||||
University of Massachusetts Building Authority RB, 5.00%, 11/01/25 | 210 | 225,568 | ||||||
14,147,462 | ||||||||
Michigan — 1.1% | ||||||||
Michigan Finance Authority RB | ||||||||
5.00%, 10/01/25 | 330 | 353,740 | ||||||
Series A, 5.00%, 12/01/25 | 185 | 198,225 | ||||||
Series B, 5.00%, 10/01/25 | 570 | 611,006 | ||||||
Michigan State Building Authority RB | ||||||||
5.00%, 04/15/25 | 335 | 354,157 | ||||||
Series I, 5.00%, 04/15/25 | 750 | 792,888 | ||||||
Michigan State University RB, 5.00%, 02/15/25 | 35 | 36,883 | ||||||
State of Michigan GO | ||||||||
Series A, 5.00%, 05/01/25 | 130 | 137,742 | ||||||
Series B, 4.00%, 11/01/25 | 120 | 125,878 | ||||||
State of Michigan RB, 5.00%, 03/15/25 | 885 | 933,736 | ||||||
State of Michigan Trunk Line Revenue RB, 5.00%, 11/15/25 | 100 | 107,783 | ||||||
University of Michigan RB 5.00%, 04/01/25 | 460 | 486,602 | ||||||
Series A, 5.00%, 04/01/25 | 290 | 306,771 | ||||||
Wayne County Airport Authority RB, Series A, 5.00%, 12/01/25 | 25 | 26,780 | ||||||
4,472,191 | ||||||||
Minnesota — 2.1% | ||||||||
City of Minneapolis MN GO, 4.00%, 12/01/25 | 150 | 157,482 | ||||||
County of Hennepin MN GO | ||||||||
5.00%, 12/01/25 | 1,000 | 1,080,046 | ||||||
Series A, 5.00%, 12/01/25 | 350 | 378,016 | ||||||
Metropolitan Council GO | ||||||||
5.00%, 03/01/25 | 755 | 797,338 | ||||||
Series A, 5.00%, 03/01/25 | 190 | 200,654 | ||||||
Series B, 5.00%, 12/01/25 | 1,000 | 1,078,327 | ||||||
Minneapolis-St Paul Metropolitan Airports Commission RB | ||||||||
Series A, 5.00%, 01/01/25 | 200 | 209,692 | ||||||
Series C, 5.00%, 01/01/25 | 175 | 183,480 | ||||||
Minnesota Public Facilities Authority RB, Series A, 5.00%, 03/01/25 | 315 | 332,532 | ||||||
Southern Minnesota Municipal Power Agency RB, Series A, | ||||||||
0.00%, 01/01/25 (NPFGC)(a) | 55 | 52,058 | ||||||
State of Minnesota GO | ||||||||
Series A, 5.00%, 08/01/25 | 525 | 560,871 | ||||||
Series A, 5.00%, 10/01/25 | 165 | 177,092 | ||||||
Series B, 5.00%, 08/01/25 | 310 | 331,181 | ||||||
Series B, 5.00%, 10/01/25 | 135 | 144,893 | ||||||
Series D, 5.00%, 08/01/25 | 1,800 | 1,922,986 | ||||||
Series E, 5.00%, 10/01/25 | 100 | 107,328 | ||||||
University of Minnesota RB | ||||||||
Series B, 5.00%, 10/01/25 | 220 | 235,827 | ||||||
Series B, 5.00%, 12/01/25 | 1,015 | 1,093,050 | ||||||
9,042,853 |
6
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Mississippi — 0.3% | ||||||||
State of Mississippi GO | ||||||||
Series B, 5.00%, 12/01/25 | $ | 435 | $ | 468,450 | ||||
Series C, 5.00%, 10/01/25 | 625 | 669,963 | ||||||
Series F, 5.00%, 11/01/32 (PR 11/01/25) | 300 | 322,405 | ||||||
1,460,818 | ||||||||
Missouri — 0.4% | ||||||||
Metropolitan St Louis Sewer District RB, Series B, 5.00%, 05/01/25 | 110 | 116,626 | ||||||
Missouri Highway & Transportation Commission RB, 5.00%, 05/01/25 | 755 | 802,187 | ||||||
Missouri State Board of Public Buildings RB | ||||||||
5.00%, 10/01/25 | 305 | 327,024 | ||||||
Series A, 5.00%, 04/01/25 | 375 | 396,604 | ||||||
1,642,441 | ||||||||
Nebraska — 0.7% | ||||||||
City of Omaha NE GO, 5.00%, 04/15/25 | 825 | 873,822 | ||||||
Douglas County School District No. 17/NE GO, 4.00%, 06/15/35 (PR 06/15/25) | 630 | 655,512 | ||||||
Nebraska Public Power District RB | ||||||||
Series A, 5.00%, 01/01/25 | 310 | 324,606 | ||||||
Series C, 5.00%, 01/01/25 | 335 | 350,784 | ||||||
Omaha Public Facilities Corp. RB, Series A, 5.00%, 06/01/25 | 50 | 53,063 | ||||||
Omaha Public Power District Nebraska City Station Unit 2 RB, Series A, 5.00%, 02/01/25 | 150 | 157,392 | ||||||
Omaha Public Power District RB | ||||||||
5.00%, 02/01/25 | 150 | 157,963 | ||||||
Series A, 5.00%, 02/01/25 | 465 | 489,685 | ||||||
3,062,827 | ||||||||
Nevada — 1.6% | ||||||||
Clark County School District GOL, Series A, 5.00%, 06/15/25 | 880 | 933,004 | ||||||
Clark County Water Reclamation District GOL, 5.00%, 07/01/25 | 615 | 654,740 | ||||||
County of Clark Department of Aviation RB, 5.00%, 07/01/25 | 860 | 914,944 | ||||||
County of Clark NV GOL | ||||||||
5.00%, 11/01/25 | 590 | 633,084 | ||||||
Series A, 5.00%, 06/01/25 | 230 | 244,034 | ||||||
Series A, 5.00%, 11/01/25 | 305 | 327,272 | ||||||
Series B, 5.00%, 06/01/25 | 50 | 53,051 | ||||||
Series B, 5.00%, 12/01/25 | 270 | 290,377 | ||||||
County of Clark NV RB | ||||||||
5.00%, 07/01/25 | 475 | 505,001 | ||||||
Series B, 5.00%, 07/01/25 | 140 | 148,707 | ||||||
Las Vegas Valley Water District GOL, 5.00%, 06/01/25 | 325 | 345,211 | ||||||
State of Nevada GOL | ||||||||
5.00%, 05/01/25 | 220 | 233,152 | ||||||
Series A, 5.00%, 05/01/25 | 260 | 275,543 | ||||||
State of Nevada Highway Improvement Revenue RB, 5.00%, 12/01/25 | 815 | 877,671 | ||||||
Washoe County School District/NV GOL | ||||||||
Series A, 5.00%, 06/01/25 | 140 | 148,378 | ||||||
Series C, 5.00%, 10/01/25 | 60 | 64,155 | ||||||
6,648,324 | ||||||||
New Hampshire — 0.5% | ||||||||
City of Manchester NH GO, 4.00%, 06/15/25 | 310 | 321,424 | ||||||
City of Nashua NH GO, 5.00%, 09/01/25 | 140 | 149,984 | ||||||
New Hampshire Municipal Bond Bank RB | ||||||||
5.00%, 08/15/25 | 405 | 433,244 | ||||||
5.00%, 08/15/25 (ST INTERCEPT) | 70 | 74,882 | ||||||
Series A, 5.00%, 08/15/25 | 175 | 187,204 | ||||||
New Hampshire State Turnpike System RB, 4.00%, 11/01/25 | 160 | 167,589 |
Security | Par (000) | Value | ||||||
New Hampshire (continued) | ||||||||
State of New Hampshire GO | ||||||||
5.00%, 12/01/25 | $ | 540 | $ | 582,296 | ||||
Series B, 5.00%, 12/01/25 | 175 | 188,707 | ||||||
2,105,330 | ||||||||
New Jersey — 2.4% | ||||||||
County of Essex NJ GO, 5.00%, 08/01/25 | 170 | 181,401 | ||||||
County of Monmouth NJ GO, 5.00%, 07/15/25 | 195 | 208,209 | ||||||
Monmouth County Improvement Authority (The) RB | ||||||||
4.00%, 08/01/25 (GTD) | 50 | 52,158 | ||||||
5.00%, 02/15/25 (GTD) | 100 | 105,563 | ||||||
5.00%, 12/01/25 (GTD) | 270 | 291,458 | ||||||
New Jersey Economic Development Authority, 5.00%, 11/01/25 | 170 | 180,451 | ||||||
New Jersey Economic Development Authority RB | ||||||||
5.00%, 06/15/25 | 305 | 320,917 | ||||||
Series A, 4.13%, 06/15/25 | 170 | 175,205 | ||||||
Series B, 4.00%, 11/01/25 (SAP) | 860 | 888,621 | ||||||
Series D, 5.00%, 06/15/25 | 130 | 136,784 | ||||||
Series WW, 5.25%, 06/15/31 (PR 06/15/25) (SAP) | 1,000 | 1,070,138 | ||||||
New Jersey Educational Facilities Authority RB | ||||||||
Series B, 5.00%, 07/01/25 | 605 | 646,304 | ||||||
Series D, 5.00%, 07/01/25 | 460 | 491,405 | ||||||
New Jersey Infrastructure Bank RB, Series A-1, 5.00%, 09/01/25 (GTD) | 110 | 117,873 | ||||||
New Jersey Transportation Trust Fund Authority RB | ||||||||
5.00%, 06/15/25 | 105 | 110,752 | ||||||
Series A, 5.00%, 06/15/25 | 225 | 236,743 | ||||||
Series A, 5.75%, 06/15/25 (NPFGC) | 220 | 235,452 | ||||||
New Jersey Turnpike Authority RB | ||||||||
Series B, 5.00%, 01/01/25 | 115 | 120,683 | ||||||
Series C-2, 5.50%, 01/01/25 (AMBAC) | 800 | 846,977 | ||||||
State of New Jersey GO | ||||||||
5.00%, 06/01/25 | 1,015 | 1,076,457 | ||||||
5.00%, 06/01/31 (PR 06/01/25) | 100 | 106,125 | ||||||
5.00%, 06/01/32 (PR 06/01/25) | 500 | 530,625 | ||||||
Series A, 5.00%, 06/01/25 | 2,025 | 2,147,609 | ||||||
10,277,910 | ||||||||
New Mexico — 0.5% | ||||||||
New Mexico Finance Authority RB | ||||||||
5.00%, 06/01/25. | 200 | 212,438 | ||||||
5.00%, 06/15/25 | 250 | 265,653 | ||||||
Series A, 5.00%, 06/15/25 | 210 | 223,299 | ||||||
Santa Fe Public School District GO, 5.00%, 08/01/25 (SAW) | 85 | 90,487 | ||||||
State of New Mexico GO, 5.00%, 03/01/25 | 350 | 369,260 | ||||||
State of New Mexico Severance Tax Permanent Fund RB | ||||||||
5.00%, 07/01/25 | 890 | 947,240 | ||||||
Series D, 5.00%, 07/01/25 | 50 | 53,219 | ||||||
2,161,596 | ||||||||
New York — 7.4% | ||||||||
City of New York NY GO | ||||||||
4.00%, 08/01/25 | 100 | 104,227 | ||||||
5.00%, 08/01/25 | 680 | 726,119 | ||||||
Series 1, 5.00%, 08/01/25 | 470 | 501,876 | ||||||
Series A, 5.00%, 08/01/25 | 1,630 | 1,740,550 | ||||||
Series A-1, 5.00%, 08/01/25 | 205 | 218,904 | ||||||
Series C, 4.00%, 08/01/25 | 240 | 250,144 | ||||||
Series C, 5.00%, 08/01/25 | 2,690 | 2,872,441 | ||||||
Series C-1, 5.00%, 08/01/25 | 670 | 715,441 | ||||||
Series E, 5.00%, 08/01/25 | 335 | 357,720 | ||||||
Series F-1, 5.00%, 06/01/25 | 115 | 122,233 |
7
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
New York (continued) | ||||||||
County of Monroe NY GOL, 5.00%, 06/01/25 (AGM) | $ | 50 | $ | 53,109 | ||||
Erie County Industrial Development Agency (The) RB, 5.00%, 05/01/25 (SAW) | 305 | 323,302 | ||||||
Hudson Yards Infrastructure Corp. RB, 4.00%, 02/15/25 | 100 | 103,280 | ||||||
Long Island Power Authority RB | ||||||||
0.00%, 06/01/25 (AGM)(a) | 200 | 188,814 | ||||||
5.00%, 09/01/25 | 140 | 149,802 | ||||||
Metropolitan Transportation Authority RB | ||||||||
5.00%, 11/15/25 | 390 | 411,421 | ||||||
Series A, 5.00%, 11/15/25 | 140 | 149,915 | ||||||
Series A2, 5.00%, 11/15/25 | 150 | 157,699 | ||||||
Series B, 5.00%, 11/15/25 | 650 | 683,363 | ||||||
Series B2, 5.00%, 11/15/25 | 265 | 283,916 | ||||||
Series C-1, 5.00%, 11/15/25 | 470 | 494,123 | ||||||
Series F, 5.00%, 11/15/25 | 230 | 241,805 | ||||||
New York City Municipal Water Finance Authority RB, 5.00%, 06/15/25 | 425 | 452,726 | ||||||
New York City Transitional Finance Authority Building Aid Revenue RB | ||||||||
4.00%, 07/15/25 | 175 | 182,397 | ||||||
5.00%, 07/15/25 (SAW) | 40 | 42,660 | ||||||
5.00%, 07/15/25 (ETM) (SAW) | 185 | 196,732 | ||||||
Series S-3, 5.00%, 07/15/25 (SAW) | 650 | 693,227 | ||||||
Series S-4A, 5.00%, 07/15/25 (SAW) | 175 | 186,638 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, 5.00%, 11/01/25 | 135 | 145,120 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue RB | ||||||||
4.00%, 05/01/25 | 100 | 103,800 | ||||||
5.00%, 02/01/25 | 345 | 363,315 | ||||||
5.00%, 05/01/25 | 135 | 143,132 | ||||||
5.00%, 08/01/25 | 595 | 635,204 | ||||||
5.00%, 11/01/25 | 315 | 338,613 | ||||||
Series A-1, 5.00%, 08/01/25 | 50 | 53,379 | ||||||
Series B-1, 5.00%, 08/01/25 | 275 | 293,582 | ||||||
Series C, 5.00%, 11/01/25 | 1,245 | 1,338,329 | ||||||
New York City Water & Sewer System RB | ||||||||
4.00%, 06/15/25 | 540 | 562,823 | ||||||
5.00%, 06/15/25 | 320 | 340,876 | ||||||
Series FF, 4.00%, 06/15/25 | 50 | 52,113 | ||||||
Series GG, 5.00%, 06/15/25 | 310 | 330,224 | ||||||
New York State Dormitory Authority RB | ||||||||
4.00%, 02/15/25 | 130 | 134,696 | ||||||
5.00%, 03/15/25 | 250 | 264,060 | ||||||
5.00%, 07/01/25 | 335 | 357,521 | ||||||
5.00%, 10/01/25 | 255 | 274,306 | ||||||
5.00%, 07/01/37 (PR 07/01/25) | 50 | 53,182 | ||||||
Series 1, 5.00%, 03/15/25 | 310 | 327,831 | ||||||
Series A, 5.00%, 02/15/25 | 520 | 548,828 | ||||||
Series A, 5.00%, 03/15/25 | 885 | 935,863 | ||||||
Series A, 5.00%, 07/01/25 | 330 | 350,881 | ||||||
Series B, 5.00%, 02/15/25 | 365 | 385,415 | ||||||
Series B, 5.50%, 03/15/25 (AMBAC) | 210 | 224,264 | ||||||
Series C, 5.00%, 03/15/25 | 270 | 285,185 | ||||||
Series D, 5.00%, 02/15/25 | 650 | 685,849 | ||||||
Series E, 5.00%, 02/15/25 | 60 | 63,356 | ||||||
Series E, 5.00%, 03/15/25 | 615 | 649,962 | ||||||
New York State Environmental Facilities Corp., 5.00%, 06/15/25 | 150 | 159,714 | ||||||
New York State Environmental Facilities Corp. RB 5.00%, 06/15/25 | 200 | 212,952 |
Security | Par (000) | Value | ||||||
New York (continued) | ||||||||
5.00%, 10/15/25 | $ | 70 | $ | 75,231 | ||||
Series A, 4.00%, 06/15/25 | 100 | 104,132 | ||||||
Series B, 5.00%, 06/15/25 | 300 | 319,428 | ||||||
Series D, 5.00%, 03/15/25 | 215 | 227,344 | ||||||
New York State Thruway Authority RB | ||||||||
5.00%, 01/01/25 | 220 | 231,126 | ||||||
Series A-1, 5.00%, 03/15/25 | 215 | 227,161 | ||||||
Series L, 5.00%, 01/01/25 | 255 | 267,896 | ||||||
New York State Urban Development Corp. RB | ||||||||
5.00%, 03/15/25 | 1,470 | 1,553,458 | ||||||
5.00%, 03/15/25 (ETM) | 5 | 5,276 | ||||||
Series A, 5.00%, 03/15/25 | 2,140 | 2,261,496 | ||||||
Series C, 5.00%, 03/15/25 | 105 | 110,961 | ||||||
Port Authority of New York & New Jersey RB | ||||||||
4.00%, 12/01/25 | 145 | 152,192 | ||||||
Series 189, 5.00%, 05/01/25 | 195 | 206,746 | ||||||
Series 205, 5.00%, 11/15/25 | 480 | 516,547 | ||||||
State of New York GO | ||||||||
Series A, 5.00%, 02/15/25 | 75 | 79,142 | ||||||
Series-A, 5.00%, 03/15/25 | 50 | 52,881 | ||||||
Triborough Bridge & Tunnel Authority RB | ||||||||
5.00%, 11/15/25 | 500 | 535,824 | ||||||
Series A, 5.00%, 11/15/25 | 205 | 219,860 | ||||||
Series B, 5.00%, 11/15/25 | 535 | 573,781 | ||||||
Series C-1, 5.00%, 11/15/25 | 260 | 278,847 | ||||||
31,218,288 | ||||||||
North Carolina — 2.3% | ||||||||
City of Charlotte NC COP | ||||||||
5.00%, 12/01/25 | 50 | 53,902 | ||||||
Series B, 5.00%, 06/01/25 | 50 | 53,156 | ||||||
City of Charlotte NC GO, Series A, 5.00%, 07/01/25 | 85 | 90,617 | ||||||
City of Charlotte NC Water & Sewer System RB, 5.00%, 07/01/25 | 200 | 213,215 | ||||||
City of Charlotte NC Water & Sewer System Revenue RB, 5.00%, 07/01/25 | 405 | 431,761 | ||||||
City of Raleigh NC GO, Series A, 5.00%, 09/01/25 | 245 | 262,409 | ||||||
City of Winston-Salem NC Water & Sewer System Revenue RB, 5.00%, 06/01/25 | 275 | 292,425 | ||||||
County of Buncombe NC, 5.00%, 06/01/25 | 205 | 217,941 | ||||||
County of Durham NC GO, 5.00%, 10/01/25 | 275 | 295,227 | ||||||
County of Forsyth NC GO | ||||||||
5.00%, 03/01/25 | 185 | 195,413 | ||||||
5.00%, 07/01/25 | 70 | 74,625 | ||||||
5.00%, 12/01/25 | 200 | 215,723 | ||||||
County of Guilford NC GO, 5.00%, 03/01/25 | 350 | 369,700 | ||||||
County of Iredell NC RB, 5.00%, 12/01/25 | 25 | 26,937 | ||||||
County of Johnston NC GO, 4.00%, 02/01/25 | 235 | 242,818 | ||||||
County of Mecklenburg NC GO | ||||||||
5.00%, 03/01/25 | 110 | 116,191 | ||||||
5.25%, 12/01/25 | 10 | 10,855 | ||||||
County of New Hanover NC GO, 5.00%, 08/01/25 | 100 | 106,858 | ||||||
County of Wake NC, 5.00%, 03/01/25 | 530 | 559,831 | ||||||
County of Wake NC GO | ||||||||
5.00%, 02/01/25 | 195 | 205,508 | ||||||
Series A, 5.00%, 03/01/25 | 425 | 448,921 | ||||||
Series C, 5.00%, 03/01/25 | 370 | 390,826 | ||||||
County of Wake NC RB, 5.00%, 08/01/25 | 160 | 170,892 | ||||||
North Carolina Municipal Power Agency No. 1 RB, Series A, 5.00%, 01/01/25 | 580 | 607,772 | ||||||
State of North Carolina GO | ||||||||
5.00%, 06/01/25 | 300 | 319,080 |
8
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
North Carolina (continued) | ||||||||
Series A, 5.00%, 06/01/25 | $ | 1,520 | $ | 1,616,668 | ||||
Series B, 5.00%, 06/01/25 | 980 | 1,042,326 | ||||||
State of North Carolina RB | ||||||||
5.00%, 03/01/25 | 165 | 174,080 | ||||||
5.00%, 05/01/25 | 315 | 334,187 | ||||||
Series B, 5.00%, 05/01/25 | 690 | 732,030 | ||||||
9,871,894 | ||||||||
Ohio — 3.4% | ||||||||
American Municipal Power Inc. RB, Series-A, 5.00%, 02/15/25 | 390 | 408,594 | ||||||
City of Cincinnati OH GO, Series A, 4.00%, 12/01/25 | 150 | 157,269 | ||||||
City of Cincinnati OH Water System Revenue RB, 4.00%, 12/01/30 (PR 12/01/25) | 2,000 | 2,099,759 | ||||||
City of Cleveland OH GO, 5.00%, 12/01/25 | 140 | 150,566 | ||||||
City of Columbus OH GO | ||||||||
4.00%, 08/15/25 | 45 | 47,022 | ||||||
Series 1, 5.00%, 07/01/25 | 800 | 852,667 | ||||||
Series A, 4.00%, 04/01/25 | 205 | 212,682 | ||||||
Series A, 5.00%, 04/01/25 | 205 | 216,989 | ||||||
City of Columbus OH GOL | ||||||||
5.00%, 07/01/25 | 155 | 165,204 | ||||||
Series B, 4.00%, 07/01/25 | 35 | 36,486 | ||||||
City of Columbus OH RB, Series A, 5.00%, 07/01/25 | 140 | 149,217 | ||||||
Cleveland Department of Public Utilities Division of Water RB, 5.00%, 01/01/25 | 780 | 819,296 | ||||||
County of Franklin OH Sales Tax Revenue RB, 5.00%, 06/01/25 | 155 | 164,639 | ||||||
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/25 | 120 | 128,885 | ||||||
Ohio State University (The) RB, 5.00%, 12/01/25 | 515 | 552,546 | ||||||
Ohio Turnpike & Infrastructure Commission, 5.00%, 02/15/25 | 170 | 179,145 | ||||||
Ohio Water Development Authority RB | ||||||||
Series A, 5.00%, 06/01/25 | 335 | 356,226 | ||||||
Series A, 5.00%, 12/01/25 | 280 | 301,932 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund RB | ||||||||
5.00%, 06/01/25 | 400 | 425,345 | ||||||
5.00%, 12/01/25 | 195 | 210,274 | ||||||
Series 2015-A, 5.00%, 12/01/25 | 485 | 522,989 | ||||||
Series B, 5.00%, 12/01/25 | 55 | 59,308 | ||||||
State of Ohio, 5.00%, 11/01/25 | 125 | 134,266 | ||||||
State of Ohio GO | ||||||||
4.00%, 05/01/25 | 150 | 155,867 | ||||||
5.00%, 08/01/25 | 710 | 758,153 | ||||||
5.00%, 08/01/25 (ETM) | 5 | 5,337 | ||||||
5.00%, 09/01/25 | 165 | 176,595 | ||||||
5.00%, 10/01/25 | 400 | 429,099 | ||||||
5.00%, 05/01/26 (PR 05/01/25) | 1,000 | 1,060,007 | ||||||
Series A, 5.00%, 06/15/25 | 275 | 292,612 | ||||||
Series A, 5.00%, 09/01/25 | 240 | 256,866 | ||||||
Series A, 5.00%, 09/15/25 | 185 | 198,215 | ||||||
Series A, 5.00%, 05/01/37 (PR 05/01/25) | 325 | 344,502 | ||||||
Series B, 5.00%, 09/01/25 | 225 | 240,812 | ||||||
Series B, 5.00%, 09/15/25 | 590 | 632,146 | ||||||
Series S, 5.00%, 05/01/25 | 80 | 84,837 | ||||||
Series V, 5.00%, 05/01/25 | 315 | 334,045 | ||||||
State of Ohio RB | ||||||||
5.00%, 04/01/25 | 290 | 306,329 | ||||||
Series A, 5.00%, 02/01/25 | 50 | 52,584 | ||||||
Series C, 5.00%, 12/01/25 | 145 | 155,943 |
Security | Par (000) | Value | ||||||
Ohio (continued) | ||||||||
Series-A, 5.00%, 06/01/25 | $ | 630 | $ | 668,440 | ||||
14,503,695 | ||||||||
Oklahoma — 0.4% | ||||||||
City of Oklahoma City OK GO, 5.00%, 03/01/25 | 95 | 100,129 | ||||||
Grand River Dam Authority RB | ||||||||
Series A, 4.00%, 06/01/25 | 145 | 149,871 | ||||||
Series A, 5.00%, 06/01/25 | 515 | 544,857 | ||||||
Oklahoma Capitol Improvement Authority RB, Series A, 4.00%, 07/01/25 | 110 | 114,137 | ||||||
Oklahoma City Water Utilities Trust RB, 5.00%, 07/01/25 | 385 | 409,971 | ||||||
Oklahoma Turnpike Authority RB, Series E, 5.00%, 01/01/25 | 210 | 219,975 | ||||||
Oklahoma Water Resources Board RB, 5.00%, 04/01/25 | 350 | 371,080 | ||||||
1,910,020 | ||||||||
Oregon — 1.6% | ||||||||
City of Eugene OR Electric Utility System Revenue RB, Series A, 5.00%, 08/01/25 | 15 | 15,968 | ||||||
City of Portland OR GOL, 5.00%, 06/15/25 | 75 | 79,785 | ||||||
City of Portland OR Sewer System Revenue RB, Series A, 5.00%, 06/15/25 | 320 | 339,884 | ||||||
City of Portland Sewer System Revenue, 5.00%, 06/01/25 | 185 | 196,288 | ||||||
Clackamas & Washington Counties School District No. 3 GO, 5.00%, 06/15/29 (PR 06/15/25) (GTD) | 300 | 319,033 | ||||||
Multnomah County School District No. 1 Portland/OR GO | ||||||||
5.00%, 06/15/25 (GTD) | 1,140 | 1,212,193 | ||||||
Series B, 5.00%, 06/15/25 (GTD) | 250 | 265,832 | ||||||
Multnomah County School District No. 7 Reynolds, 0.00%, 06/15/36 (PR 06/15/25) (GTD)(a) | 650 | 377,184 | ||||||
Portland Community College District GO, 5.00%, 06/15/25 | 610 | 648,630 | ||||||
Salem-Keizer School District No. 24J GO, Series-B, 5.00%, 06/15/25 (GTD) | 275 | 292,087 | ||||||
State of Oregon Department of Transportation RB | ||||||||
Series A, 5.00%, 11/15/25 | 300 | 322,673 | ||||||
Series C, 5.00%, 11/15/25 | 100 | 107,558 | ||||||
State of Oregon GO | ||||||||
5.00%, 05/01/25 | 975 | 1,034,390 | ||||||
5.00%, 06/01/25 | 150 | 159,504 | ||||||
5.00%, 08/01/25 | 30 | 32,050 | ||||||
5.00%, 08/01/35 (PR 08/01/25) | 500 | 533,659 | ||||||
Series H, 5.00%, 08/01/25 | 300 | 320,498 | ||||||
Series L, 5.00%, 08/01/25 | 225 | 240,373 | ||||||
Tri-County Metropolitan Transportation District of Oregon RB, 5.00%, 09/01/25 | 200 | 214,003 | ||||||
6,711,592 | ||||||||
Pennsylvania — 2.3% | ||||||||
City of Philadelphia PA GO, Series A, 5.00%, 08/01/25 | 255 | 270,696 | ||||||
City of Philadelphia PA Water & Wastewater Revenue RB | ||||||||
5.00%, 06/01/25 | 370 | 391,019 | ||||||
5.00%, 10/01/25 | 600 | 639,470 | ||||||
Series B, 5.00%, 11/01/25 | 125 | 133,507 | ||||||
Commonwealth of Pennsylvania, 5.00%, 10/01/25 | 760 | 813,043 | ||||||
Commonwealth of Pennsylvania GO | ||||||||
5.00%, 07/15/25 | 75 | 79,784 | ||||||
5.00%, 09/15/25 (AGM) | 20 | 21,418 | ||||||
First Series, 5.00%, 01/01/25 | 350 | 367,095 | ||||||
First Series, 5.00%, 02/01/25 (AGM) | 370 | 388,900 | ||||||
First Series, 5.00%, 08/15/25 | 1,065 | 1,135,461 | ||||||
First Series, 5.00%, 09/15/25 | 1,100 | 1,175,385 | ||||||
Second Series, 5.00%, 09/15/25 | 825 | 881,539 | ||||||
Series D, 5.00%, 08/15/25 | 140 | 149,263 | ||||||
County of Bucks PA GO, 5.00%, 06/01/25 | 140 | 148,871 |
9
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Pennsylvania (continued) | ||||||||
Delaware County Authority RB, 5.00%, 12/01/25 | $ | 60 | $ | 64,170 | ||||
Delaware River Joint Toll Bridge Commission RB, 5.00%, 07/01/25 | 105 | 111,555 | ||||||
Delaware River Port Authority RB | ||||||||
5.00%, 01/01/25 | 120 | 125,861 | ||||||
Series B, 5.00%, 01/01/25 | 260 | 272,699 | ||||||
Pennsylvania Higher Educational Facilities Authority RB, 5.00%, 10/01/25 | 120 | 128,762 | ||||||
Pennsylvania Infrastructure Investment Authority RB, 5.00%, 01/15/25 | 150 | 157,866 | ||||||
Pennsylvania State University (The) RB, 5.25%, 08/15/25 | 365 | 391,851 | ||||||
Pennsylvania Turnpike Commission, 5.00%, 12/01/25 | 100 | 107,547 | ||||||
Pennsylvania Turnpike Commission RB | ||||||||
5.00%, 12/01/25 | 110 | 118,302 | ||||||
Series A, 5.00%, 12/01/25 | 600 | 645,281 | ||||||
Series A2, 5.00%, 12/01/25 | 480 | 516,225 | ||||||
Series B, 5.00%, 06/01/25 | 170 | 179,460 | ||||||
Philadelphia Authority for Industrial Development RB, 5.00%, 07/01/25 | 250 | 265,487 | ||||||
Township of Lower Merion PA GO, 5.00%, 01/15/25 | 50 | 52,612 | ||||||
9,733,129 | ||||||||
Rhode Island — 0.5% | ||||||||
Narragansett Bay Commission, 5.00%, 02/01/30 (PR 02/01/25) | 400 | 421,154 | ||||||
Rhode Island Commerce Corp., 5.00%, 06/15/25 | 190 | 200,723 | ||||||
Rhode Island Commerce Corp. RB, Series B, 5.00%, 06/15/25 | 445 | 471,275 | ||||||
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB | ||||||||
5.00%, 10/01/25 | 130 | 139,457 | ||||||
Series B, 5.00%, 10/01/25 | 135 | 144,821 | ||||||
State of Rhode Island GO | ||||||||
5.00%, 01/15/25 | 470 | 494,184 | ||||||
Series A, 5.00%, 08/01/25 | 95 | 101,323 | ||||||
1,972,937 | ||||||||
South Carolina — 0.5% | ||||||||
City of Charleston SC Waterworks & Sewer System Revenue RB, 5.00%, 01/01/32 (PR 01/01/25) | 815 | 856,216 | ||||||
City of Columbia SC Waterworks & Sewer System Revenue RB, Series B, 5.00%, 02/01/25 | 265 | 279,174 | ||||||
County of Charleston SC GO, 5.00%, 11/01/25 (SAW) | 400 | 430,410 | ||||||
Fort Mill School District No. 4 GO, Series A, 5.00%, 03/01/25, (SCSDE) | 100 | 105,524 | ||||||
South Carolina Transportation Infrastructure Bank RB, Series-B, 5.00%, 10/01/25 | 455 | 487,733 | ||||||
State of South Carolina GO, 5.00%, 04/01/25 | 125 | 132,338 | ||||||
2,291,395 | ||||||||
Tennessee — 2.9% | ||||||||
City of Memphis TN Electric System Revenue RB, 5.00%, 12/01/25 | ||||||||
City of Memphis TN GO | ||||||||
5.00%, 04/01/25 | 200 | 211,610 | ||||||
Series A, 5.00%, 12/01/25 | 210 | 226,328 | ||||||
City of Memphis TN Sanitary Sewerage System Revenue RB, 5.00%, 10/01/25 | 655 | 702,297 | ||||||
County of Blount TN GO, 5.00%, 06/01/25 | 535 | 568,522 | ||||||
County of Hamilton TN GO | ||||||||
4.00%, 03/01/25 | 460 | 476,495 | ||||||
Series A, 5.00%, 04/01/25 | 150 | 158,805 | ||||||
County of Montgomery TN GO, 5.00%, 04/01/25 | 560 | 591,684 | ||||||
County of Putnam TN GO, 5.00%, 04/01/25 | 100 | 105,783 |
Security | Par (000) | Value | ||||||
Tennessee (continued) | ||||||||
County of Shelby TN GO | ||||||||
5.00%, 04/01/25 | $ | 350 | $ | 370,393 | ||||
Series A, 5.00%, 04/01/25 | 345 | 365,102 | ||||||
County of Sumner TN GO, 5.00%, 12/01/25 | 150 | 161,577 | ||||||
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB | ||||||||
5.00%, 05/15/25 | 170 | 180,315 | ||||||
Series A, 5.00%, 05/15/25 | 260 | 275,776 | ||||||
Metropolitan Government of Nashville & Davidson County TN GO | ||||||||
5.00%, 01/01/25 | 890 | 934,837 | ||||||
5.00%, 07/01/25 | 1,065 | 1,134,335 | ||||||
Series A, 5.00%, 07/01/25 | 280 | 298,229 | ||||||
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue RB | ||||||||
5.00%, 07/01/25 | 220 | 234,216 | ||||||
Series B, 5.00%, 07/01/25 | 230 | 244,862 | ||||||
State of Tennessee GO | ||||||||
5.00%, 02/01/25 | 580 | 611,256 | ||||||
5.00%, 09/01/25 | 210 | 224,922 | ||||||
5.00%, 08/01/29 (PR 08/01/25) | 2,035 | 2,171,994 | ||||||
Series A, 5.00%, 08/01/25 | 430 | 459,488 | ||||||
Tennessee State School Bond Authority, 5.00%, 11/01/25 (ST INTERCEPT) | 270 | 290,390 | ||||||
Tennessee State School Bond Authority RB | ||||||||
5.00%, 11/01/25 (ST HGR ED INTERCEPT PROG) | 255 | 274,257 | ||||||
5.00%, 11/01/25 (ST INTERCEPT) | 110 | 118,307 | ||||||
Series A, 5.00%, 11/01/25 (NPFGC) | 320 | 344,166 | ||||||
Series B, 5.00%, 11/01/25 | 315 | 338,788 | ||||||
12,225,499 | ||||||||
Texas — 11.2% | ||||||||
Alamo Regional Mobility Authority RB, 5.00%, 06/15/25 | 180 | 190,885 | ||||||
Aldine Independent School District GOL, 5.00%, 02/15/25 | 200 | 210,717 | ||||||
Alvin Independent School District/TX GO, 5.00%, 02/15/25 (PSF) | 230 | 242,231 | ||||||
Arlington Independent School District/TX GO | ||||||||
5.00%, 02/15/25 (PSF) | 70 | 73,780 | ||||||
Series B, 5.00%, 02/15/25 (PSF) | 100 | 105,400 | ||||||
Austin Community College District, 5.00%, 08/01/25 | 305 | 324,996 | ||||||
Austin Community College District GOL, 5.00%, 08/01/25 | 100 | 106,556 | ||||||
Austin Independent School District GO | ||||||||
5.00%, 08/01/25 (PSF) | 680 | 725,606 | ||||||
Series B, 5.00%, 08/01/25 (PSF) | 195 | 208,078 | ||||||
Birdville Independent School District GO, Series B, 5.00%, 02/15/25 (PSF) | 170 | 179,110 | ||||||
Board of Regents of the University of Texas System RB | ||||||||
Series B, 5.00%, 08/15/25 | 200 | 213,896 | ||||||
Series C, 5.00%, 08/15/25 | 265 | 283,412 | ||||||
Series J, 5.00%, 08/15/25 | 245 | 262,023 | ||||||
Central Texas Regional Mobility Authority RB, 5.00%, 01/01/25 | 135 | 140,511 | ||||||
City of Arlington TX GOL, 5.00%, 08/15/25 | 155 | 164,860 | ||||||
City of Austin TX GOL, 5.00%, 09/01/25 | 300 | 320,770 | ||||||
City of Austin TX Water & Wastewater System Revenue RB | ||||||||
5.00%, 11/15/25 | 195 | 209,848 | ||||||
5.00%, 11/15/25 (ETM) | 45 | 48,281 | ||||||
City of Austin/TX GOL, 5.00%, 09/01/25 | 355 | 379,578 | ||||||
City of Dallas TX Waterworks & Sewer System Revenue RB | ||||||||
5.00%, 10/01/25 | 300 | 321,663 | ||||||
Series A, 5.00%, 10/01/25 | 100 | 107,221 | ||||||
City of Denton TX GOL, 5.00%, 02/15/25 | 110 | 115,850 | ||||||
City of Frisco TX GOL, 5.00%, 02/15/25 | 545 | 573,202 |
10
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Texas (continued) | ||||||||
City of Houston TX Airport System Revenue RB, Series D, 5.00%, 07/01/25 | $ | 65 | $ | 69,058 | ||||
City of Houston TX Combined Utility System Revenue RB | ||||||||
5.00%, 11/15/25 | 135 | 145,013 | ||||||
Series A, 0.00%, 12/01/25 (AGM)(a) | 20 | 18,521 | ||||||
Series B, 5.00%, 11/15/25 | 300 | 322,251 | ||||||
Series D, 5.00%, 11/15/25 | 230 | 247,059 | ||||||
City of McKinney TX Waterworks & Sewer System Revenue RB, 5.00%, 03/15/25 | 15 | 15,810 | ||||||
City of Plano TX GOL | ||||||||
5.00%, 09/01/25 | 225 | 240,344 | ||||||
Series A, 5.00%, 09/01/25 | 95 | 101,478 | ||||||
City of San Antonio TX Electric & Gas Systems Revenue RB | ||||||||
5.00%, 02/01/25 | 555 | 583,350 | ||||||
Series ETM, 5.00%, 02/01/25 (ETM) | 50 | 52,644 | ||||||
City of San Antonio TX GOL | ||||||||
5.00%, 02/01/25 | 50 | 52,634 | ||||||
5.00%, 08/01/25 | 735 | 784,294 | ||||||
Clear Creek Independent School District GO, 5.00%, 02/15/25 (PSF) | 165 | 173,707 | ||||||
Conroe Independent School District GO, 5.00%, 02/15/25 (PSF) | 30 | 31,614 | ||||||
County of Bexar TX GOL, 5.00%, 06/15/25 | 120 | 127,542 | ||||||
County of Bexar TX RB, 5.00%, 06/15/25 | 460 | 488,911 | ||||||
County of Collin TX GOL, 5.00%, 02/15/25 | 190 | 200,259 | ||||||
County of Dallas TX GOL, 5.00%, 08/15/25 | 500 | 533,846 | ||||||
County of Denton TX GOL, 5.00%, 05/15/25 | 185 | 195,970 | ||||||
County of Fort Bend TX GO, Series A, 5.00%, 03/01/25 | 110 | 115,869 | ||||||
County of Harris TX GOL | ||||||||
5.00%, 10/01/25 | 145 | 155,431 | ||||||
Series B, 5.00%, 10/01/25 | 425 | 455,575 | ||||||
County of Harris TX RB | ||||||||
5.00%, 08/15/25 | 455 | 485,451 | ||||||
Series A, 5.00%, 08/15/25 | 370 | 394,763 | ||||||
County of Montgomery TX GO, Series A, 5.00%, 03/01/25 | 120 | 126,453 | ||||||
Cypress-Fairbanks Independent School District GO, 5.00%, 02/15/25 (PSF) | 1,035 | 1,090,462 | ||||||
Dallas Area Rapid Transit RB | ||||||||
5.00%, 12/01/25 | 1,365 | 1,468,405 | ||||||
5.00%, 12/01/31 (PR 12/01/25) | 475 | 510,983 | ||||||
Dallas Fort Worth International Airport, 5.00%, 11/01/25 | 370 | 396,609 | ||||||
Dallas Fort Worth International Airport RB, 5.00%, 11/01/25 | 230 | 246,541 | ||||||
Dallas Independent School District, 5.00%, 02/15/25 (PSF) | 500 | 526,998 | ||||||
Dallas Independent School District GO | ||||||||
5.00%, 02/15/25 (PSF) | 500 | 526,749 | ||||||
Series A, 5.00%, 02/15/25 (PSF) | 395 | 416,329 | ||||||
Denton Independent School District GO, 5.00%, 08/15/25 (PSF) | 350 | 373,692 | ||||||
DeSoto Independent School District GO, 0.00%, 08/15/25 (PSF)(a) | 200 | 186,993 | ||||||
Fort Bend Independent School District GO, 5.00%, 02/15/25 (PSF) | 150 | 157,946 | ||||||
Fort Worth Independent School District GO, 5.00%, 02/15/25 (PSF) | 625 | 658,620 | ||||||
Frisco Independent School District GO, Series A, 5.00%, 08/15/25 (PSF) | 395 | 421,637 | ||||||
Grapevine-Colleyville Independent School District GO, 0.00%, 08/15/25 (PSF)(a) | 200 | 187,932 | ||||||
Irving Independent School District GO, 5.00%, 02/15/25 (PSF) | 765 | 805,838 | ||||||
Judson Independent School District GO, 5.00%, 02/01/25 (PSF) | 135 | 141,923 |
Security | Par (000) | Value | ||||||
Texas (continued) | ||||||||
Katy Independent School District GO | ||||||||
Series A, 5.00%, 02/15/25 (PSF) | $ | 105 | $ | 110,691 | ||||
Series D, 5.00%, 02/15/25 (PSF) | 35 | 36,897 | ||||||
Keller Independent School District/TX GO, Series A, 5.00%, 02/15/25 (PSF) | 145 | 152,770 | ||||||
Killeen Independent School District GO, 5.00%, 02/15/25 (PSF) | 100 | 105,359 | ||||||
Klein Independent School District GO, Series A, 5.00%, 08/01/25 (PSF) | 40 | 42,663 | ||||||
Leander Independent School District GO | ||||||||
0.00%, 08/15/25 (PSF)(a) | 330 | 307,922 | ||||||
Series A, 5.00%, 08/15/25 (PSF) | 155 | 165,690 | ||||||
Series B, 0.00%, 08/15/25(a) | 100 | 93,077 | ||||||
Lewisville Independent School District GO | ||||||||
5.00%, 08/15/25 (PSF) | 880 | 936,877 | ||||||
Series B, 5.00%, 08/15/25 | 410 | 437,126 | ||||||
Lone Star College System GOL | ||||||||
5.00%, 02/15/25 | 305 | 321,219 | ||||||
5.00%, 08/15/25 | 40 | 42,697 | ||||||
5.00%, 09/15/25 | 175 | 187,224 | ||||||
Series B, 5.00%, 02/15/25 | 570 | 600,312 | ||||||
Lower Colorado River Authority RB | ||||||||
5.00%, 05/15/25 | 610 | 645,610 | ||||||
Series D, 5.00%, 05/15/25 | 140 | 148,173 | ||||||
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, Series B, 5.00%, 11/01/25 | 180 | 193,244 | ||||||
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue RB | ||||||||
5.00%, 11/01/25 | 235 | 252,291 | ||||||
Series-A, 5.00%, 11/01/25 | 120 | 128,829 | ||||||
North East Independent School District/TX GO, 5.00%, 08/01/25 (PSF) | 350 | 373,210 | ||||||
North Texas Municipal Water District RB, 5.00%, 06/01/25 | 335 | 355,244 | ||||||
North Texas Municipal Water District Upper East Fork Wastewater Interceptor System, 5.00%, 06/01/25 | 90 | 95,576 | ||||||
North Texas Municipal Water District Water System Revenue RB, 5.00%, 09/01/25 | 720 | 769,848 | ||||||
North Texas Tollway Authority RB | ||||||||
5.00%, 01/01/25 | 240 | 251,170 | ||||||
6.50%, 01/01/43 (PR 07/01/25) | 2,010 | 2,160,721 | ||||||
Series A, 5.00%, 01/01/25 | 270 | 283,447 | ||||||
Northside Independent School District GO | ||||||||
5.00%, 06/15/25 (PSF) | 100 | 106,357 | ||||||
Series A, 5.00%, 08/15/25 (PSF) | 100 | 106,846 | ||||||
Northwest Independent School District, 5.00%, 02/15/28 (PR 02/15/25) | 45 | 47,379 | ||||||
Northwest Independent School District GO, Series B, 5.00%, 02/15/25 (PSF) | 50 | 52,638 | ||||||
Permanent University Fund - Texas A&M University System RB | ||||||||
4.50%, 07/01/25 | 80 | 84,293 | ||||||
Series A, 5.00%, 07/01/25 | 260 | 276,990 | ||||||
Permanent University Fund - University of Texas System RB | ||||||||
Series A, 5.00%, 07/01/25 | 230 | 244,750 | ||||||
Series B, 5.00%, 07/01/25 | 180 | 191,544 | ||||||
Plano Independent School District GO, 5.00%, 02/15/25 | 150 | 158,099 | ||||||
Rockwall Independent School District GO, 5.00%, 02/15/25 (PSF) | 110 | 115,805 | ||||||
Round Rock Independent School District GO | ||||||||
5.00%, 08/01/25 | 70 | 74,659 | ||||||
5.00%, 08/01/25 (PSF) | 60 | 63,919 | ||||||
5.00%, 08/01/35 (PR 08/01/25) (PSF) | 600 | 640,391 | ||||||
Series A, 5.00%, 08/01/25 (PSF) | 120 | 127,837 |
11
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Texas (continued) | ||||||||
San Antonio Independent School District/TX GO | ||||||||
5.00%, 02/15/25 (PSF) | $ | 290 | $ | 305,540 | ||||
5.00%, 08/15/25 (PSF) | 500 | 533,973 | ||||||
San Antonio Water System RB | ||||||||
Series A, 5.00%, 05/15/25 | 175 | 185,538 | ||||||
Series C, 5.00%, 05/15/25 | 135 | 143,129 | ||||||
Spring Independent School District GO, 5.00%, 08/15/25 (PSF) | 215 | 229,444 | ||||||
State of Texas GO | ||||||||
5.00%, 04/01/25 | 245 | 258,902 | ||||||
5.00%, 10/01/25 | 1,230 | 1,317,496 | ||||||
Series A, 5.00%, 04/01/25 | 235 | 248,334 | ||||||
Series A, 5.00%, 08/01/25 | 195 | 207,931 | ||||||
State of Texas GOL, Series A, 5.00%, 08/01/25 | 235 | 250,584 | ||||||
Tarrant County College District GOL, 5.00%, 08/15/25 | 195 | 208,299 | ||||||
Tarrant Regional Water District Water Supply System Revenue RB, 5.00%, 03/01/25 | 230 | 242,561 | ||||||
Texas A&M University RB | ||||||||
5.00%, 05/15/25 | 1,230 | 1,305,764 | ||||||
Series C, 5.00%, 05/15/25 | 720 | 764,350 | ||||||
Texas State Technical College, 5.00%, 08/01/25 (AGM) | 300 | 318,241 | ||||||
Texas State Technical College RB, 4.00%, 10/15/25 | 100 | 104,646 | ||||||
Texas State University System RB, 5.00%, 03/15/25 | 685 | 722,723 | ||||||
Texas Tech University System, 5.00%, 02/15/25 | 460 | 483,992 | ||||||
Texas Transportation Commission State Highway Fund RB 5.25%, 04/01/25 | 310 | 329,690 | ||||||
First Series, 5.00%, 10/01/25 | 280 | 300,068 | ||||||
Series A, 5.00%, 10/01/25 | 1,415 | 1,516,415 | ||||||
Texas Water Development Board, 5.00%, 04/15/25 | 550 | 581,817 | ||||||
Texas Water Development Board RB | ||||||||
5.00%, 04/15/25 | 140 | 148,099 | ||||||
5.00%, 08/01/25 | 50 | 53,316 | ||||||
Series A, 5.00%, 04/15/25 | 160 | 169,256 | ||||||
Series A, 5.00%, 10/15/25 | 700 | 749,831 | ||||||
Series B, 5.00%, 04/15/25 | 185 | 195,702 | ||||||
Series B, 5.00%, 10/15/25 | 990 | 1,060,476 | ||||||
Trinity River Authority Central Regional Wastewater System Revenue, 5.00%, 08/01/25 | 385 | 411,014 | ||||||
Trinity River Authority Central Regional Wastewater System Revenue RB, 5.00%, 08/01/25 | 1,290 | 1,377,166 | ||||||
Tyler Independent School District GO, 5.00%, 02/15/25 (PSF) | 260 | 273,348 | ||||||
University of North Texas System RB | ||||||||
5.00%, 04/15/25 | 250 | 264,186 | ||||||
Series A, 5.00%, 04/15/25 | 300 | 317,687 | ||||||
University of Texas System (The) RB | ||||||||
5.00%, 08/15/25 | 340 | 363,623 | ||||||
Series E, 5.00%, 08/15/25 | 120 | 128,338 | ||||||
Series H, 5.00%, 08/15/25 | 275 | 294,107 | ||||||
47,598,958 | ||||||||
Utah — 1.2% | ||||||||
Central Utah Water Conservancy District GOL, 5.00%, 04/01/25 | 200 | 211,697 | ||||||
Davis School District GO, Series B, 5.00%, 06/01/25 | 70 | 74,370 | ||||||
Ogden City School District GO, 5.00%, 06/15/25 (GTD) | 140 | 149,033 | ||||||
State of Utah GO | ||||||||
5.00%, 07/01/25 | 1,250 | 1,332,901 | ||||||
5.00%, 07/01/25 (PR 01/01/25) | 700 | 735,400 | ||||||
University of Utah (The) RB | ||||||||
4.00%, 08/01/25 | 450 | 469,196 | ||||||
Series A, 4.00%, 08/01/25 | 75 | 78,199 | ||||||
Series A, 5.00%, 08/01/25 | 170 | 181,359 |
Security | Par (000) | Value | ||||||
Utah (continued) | ||||||||
Series B1, 5.00%, 08/01/25 (SAP) | $ | 300 | $ | 320,045 | ||||
Utah State Building Ownership Authority RB, 5.00%, 05/15/25 | 540 | 571,648 | ||||||
Utah Transit Authority RB | ||||||||
5.00%, 06/15/25 | 370 | 392,550 | ||||||
5.00%, 06/15/35 (PR 06/15/25) | 295 | 314,279 | ||||||
Utah Water Finance Agency RB, Series A, 5.00%, 03/01/25 | 195 | 205,527 | ||||||
5,036,204 | ||||||||
Vermont — 0.0% | ||||||||
University of Vermont & State Agricultural College RB, 5.00%, 10/01/25 | 40 | 42,770 | ||||||
Vermont Municipal Bond Bank RB, Series 5, 5.00%, 12/01/25 | 115 | 123,679 | ||||||
166,449 | ||||||||
Virginia — 4.6% | ||||||||
City of Alexandria VA GO, Series D, 5.00%, 07/01/25 (SAW) | 140 | 149,421 | ||||||
City of Charlottesville VA GO, 4.00%, 07/15/25 (SAW) | 125 | 130,192 | ||||||
City of Falls Church VA GO, 5.00%, 07/15/25 | 225 | 240,075 | ||||||
City of Hampton VA GO, 5.00%, 09/01/25 (SAW) | 165 | 176,724 | ||||||
City of Newport News VA Water Revenue RB, 5.00%, 07/15/25 | 1,440 | 1,536,834 | ||||||
City of Norfolk VA GO, Series A, 5.00%, 10/01/25 | 145 | 155,509 | ||||||
City of Norfolk VA Water Revenue RB, Series B, 5.00%, 11/01/25 | 125 | 134,336 | ||||||
City of Richmond VA GO | ||||||||
5.00%, 03/01/25 (SAW) | 125 | 131,957 | ||||||
Series B, 5.00%, 07/15/25 (SAW) | 35 | 37,328 | ||||||
City of Richmond VA Public Utility Revenue RB, 5.00%, 01/15/25 | 235 | 247,369 | ||||||
City of Virginia Beach VA Storm Water Utility Revenue RB, 5.00%, 11/15/25 | 385 | 414,639 | ||||||
City of Virginia Beach VA Water & Sewer System Revenue RB, 5.00%, 10/01/25 | 100 | 107,382 | ||||||
Commonwealth of Virginia GO, Series B, 5.00%, 06/01/25 | 335 | 356,227 | ||||||
County of Arlington VA GO | ||||||||
5.00%, 08/15/25 | 150 | 160,461 | ||||||
Series A, 5.00%, 08/01/25 (SAW) | 50 | 53,429 | ||||||
Series B, 5.00%, 08/15/25 | 75 | 80,230 | ||||||
County of Chesterfield VA Water & Sewer Revenue RB, 5.00%, 11/01/25 | 200 | 215,159 | ||||||
County of Fairfax VA GO, Series A, 5.00%, 10/01/25 (SAW) | 245 | 263,021 | ||||||
County of Fairfax VA Sewer Revenue RB, 5.00%, 07/15/25 | 110 | 117,397 | ||||||
County of Henrico VA GO | ||||||||
5.00%, 07/15/25 | 130 | 138,742 | ||||||
Series A, 5.00%, 08/01/25 (SAW) | 550 | 587,718 | ||||||
County of Loudoun VA GO, Series A, 5.00%, 12/01/25 (SAW) | 1,000 | 1,079,472 | ||||||
Fairfax County Industrial Development Authority RB, 5.00%, 05/15/25 | 285 | 301,900 | ||||||
Hampton Roads Sanitation District RB, Series A, 4.00%, 08/01/25 | 105 | 109,505 | ||||||
Loudoun County Sanitation Authority RB, 5.00%, 01/01/25 | 35 | 36,810 | ||||||
Upper Occoquan Sewage Authority RB, 4.00%, 07/01/39 (PR 07/01/25) | 2,000 | 2,082,977 | ||||||
Virginia Beach Development Authority RB, 5.00%, 04/01/25 | 165 | 174,542 | ||||||
Virginia College Building Authority RB | ||||||||
5.00%, 09/01/25 | 875 | 935,352 | ||||||
Series A, 5.00%, 02/01/25 | 150 | 158,023 | ||||||
Series A, 5.00%, 02/01/28 (PR 02/01/25) | 125 | 131,611 | ||||||
Series A, 5.00%, 02/01/30 (PR 02/01/25) | 300 | 315,866 | ||||||
Series B, 5.00%, 09/01/25 | 440 | 470,349 | ||||||
Series E, 5.00%, 02/01/25 | 595 | 626,825 | ||||||
Virginia Commonwealth Transportation Board RB | ||||||||
5.00%, 03/15/25 | 1,050 | 1,110,060 |
12
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Virginia (continued) | ||||||||
5.00%, 05/15/25 | $ | 190 | $ | 201,791 | ||||
5.00%, 09/15/25 | 130 | 139,355 | ||||||
Series A, 5.00%, 05/15/25 | 690 | 732,820 | ||||||
Virginia Public Building Authority RB | ||||||||
5.00%, 08/01/25 | 1,420 | 1,517,738 | ||||||
Series A, 5.00%, 08/01/25 | 175 | 187,045 | ||||||
Series B, 5.00%, 08/01/25 | 1,095 | 1,170,368 | ||||||
Virginia Public School Authority RB | ||||||||
5.00%, 03/01/25 (SAW) | 255 | 269,246 | ||||||
5.00%, 08/01/25 | 540 | 576,623 | ||||||
5.00%, 08/01/25 (SAW) | 50 | 53,404 | ||||||
Series A, 5.00%, 08/01/25 | 200 | 213,564 | ||||||
Series B, 5.00%, 08/01/25 | 330 | 352,381 | ||||||
Series C, 5.00%, 08/01/25 | 455 | 485,859 | ||||||
Virginia Resources Authority Clean Water Revolving Fund RB, 5.00%, 10/01/25 | 65 | 69,781 | ||||||
Virginia Resources Authority RB | ||||||||
5.00%, 11/01/25 | 600 | 644,784 | ||||||
Series C, 5.00%, 11/01/25 | 30 | 32,282 | ||||||
Series D, 4.00%, 11/01/25 | 55 | 57,484 | ||||||
19,671,967 | ||||||||
Washington — 5.2% | ||||||||
Central Puget Sound Regional Transit Authority RB | ||||||||
5.00%, 11/01/25. | 150 | 161,161 | ||||||
Series S-1, 5.00%, 11/01/25 | 745 | 800,434 | ||||||
Series S-1, 5.00%, 11/01/35 (PR 11/01/25) | 1,375 | 1,477,692 | ||||||
Central Puget Sound Regional Transit Authority Sales & Rental Car Taxes Revenue RB, SERIES S-1, 5.00%, 11/01/30 (PR 05/01/26) | 290 | 311,659 | ||||||
City of Seattle Municipal Light & Power Revenue, 5.00%, 07/01/25 | 500 | 532,309 | ||||||
City of Seattle WA Drainage & Wastewater Revenue RB | ||||||||
5.00%, 07/01/25 | 110 | 117,108 | ||||||
5.00%, 09/01/25 | 750 | 802,120 | ||||||
City of Seattle WA GOL | ||||||||
5.00%, 06/01/25 | 585 | 622,067 | ||||||
5.00%, 12/01/25 | 335 | 361,239 | ||||||
City of Seattle WA Municipal Light & Power Revenue RB | ||||||||
Series B, 5.00%, 02/01/25 | 195 | 205,273 | ||||||
Series B, 5.00%, 04/01/25 | 125 | 132,174 | ||||||
Series C, 5.00%, 09/01/25 | 325 | 347,585 | ||||||
Series-A, 5.00%, 07/01/25 | 135 | 143,723 | ||||||
City of Seattle WA Water System Revenue RB | ||||||||
5.00%, 05/01/25 | 340 | 360,326 | ||||||
5.00%, 08/01/25 | 225 | 240,090 | ||||||
City of Tacoma WA Electric System Revenue RB, 5.00%, 01/01/25 | 110 | 115,436 | ||||||
City of Vancouver WA GOL, Series B, 5.00%, 12/01/25 | 190 | 204,610 | ||||||
Clark County Public Utility District No. 1 RB, 5.00%, 01/01/25 | 230 | 241,053 | ||||||
Clark County School District No. 114 Evergreen GO, 5.00%, 12/01/25 (SCH BD GTY) | 235 | 253,071 | ||||||
Clark County School District No. 122 Ridgefield GO, 5.00%, 12/01/25 | 55 | 59,229 | ||||||
County of King WA GOL | ||||||||
5.00%, 07/01/25 | 230 | 245,030 | ||||||
5.00%, 12/01/25 | 180 | 193,996 | ||||||
Series A, 4.00%, 01/01/25 | 110 | 113,494 | ||||||
County of King WA Sewer Revenue, 5.00%, 01/01/25 | 200 | 210,076 | ||||||
County of King WA Sewer Revenue RB | ||||||||
5.00%, 07/01/34 (PR 01/01/25) | 400 | 420,229 | ||||||
Series-B, 5.00%, 07/01/25 | 330 | 351,324 |
Security | Par (000) | Value | ||||||
Washington (continued) | ||||||||
County of Kitsap WA GOL, 5.00%, 06/01/25 | $ | 140 | $ | 148,706 | ||||
County of Pierce WA GO, 5.00%, 08/01/25 | 150 | 159,872 | ||||||
County of Pierce WA GOL | ||||||||
5.00%, 08/01/25 | 200 | 213,162 | ||||||
Series A, 5.00%, 07/01/25 | 155 | 164,827 | ||||||
County of Snohomish WA GOL, 5.00%, 12/01/25 | 445 | 479,219 | ||||||
County of Spokane WA GOL, Series B, 5.00%, 12/01/25 | 165 | 177,641 | ||||||
Energy Northwest RB | ||||||||
5.00%, 07/01/25 | 210 | 223,570 | ||||||
Series A, 5.00%, 07/01/25 | 1,255 | 1,336,095 | ||||||
Series C, 5.00%, 07/01/25 | 890 | 947,509 | ||||||
King County School District No. 405 Bellevue GO, 5.00%, 12/01/25 (GTD) | 110 | 118,459 | ||||||
King County School District No. 410 Snoqualmie Valley GO, 5.00%, 12/01/25 (GTD) | 330 | 355,376 | ||||||
King County School District No. 415 Kent GO, 5.00%, 12/01/25 (GTD) | 225 | 241,981 | ||||||
Kitsap County School District No. 401 Central Kitsap GO, 5.00%, 12/01/25 | 140 | 150,766 | ||||||
Pierce County School District No 10 Tacoma GO, 5.00%, 12/01/25 | 250 | 269,367 | ||||||
Pierce County School District No 402 Franklin Pierce GO, 5.00%, 12/01/25. | 105 | 113,074 | ||||||
Port of Seattle WA RB | ||||||||
4.00%, 02/01/25 | 130 | 133,811 | ||||||
5.00%, 02/01/25 | 155 | 162,546 | ||||||
Port of Tacoma WA RB, Series A, 4.00%, 12/01/25 | 115 | 120,218 | ||||||
Snohomish County School District No. 201 Snohomish GO, 5.00%, 12/01/25, (SCH BD GTY) | 220 | 236,541 | ||||||
Snohomish County School District No. 4 Lake Stevens GO, 5.00%, 12/01/25 | 70 | 75,383 | ||||||
Spokane County School District No. 356 Central Valley GO, 5.00%, 12/01/25 | 90 | 96,921 | ||||||
State of Washington | ||||||||
5.00%, 02/01/25 | 385 | 405,129 | ||||||
5.00%, 07/01/25 | 200 | 213,167 | ||||||
State of Washington COP | ||||||||
5.00%, 01/01/25 | 250 | 261,875 | ||||||
5.00%, 07/01/25 (ST INTERCEPT) | 410 | 435,299 | ||||||
Series C, 5.00%, 07/01/25 | 95 | 100,862 | ||||||
State of Washington GO | ||||||||
5.00%, 02/01/25 | 505 | 531,403 | ||||||
5.00%, 07/01/25 | 420 | 447,650 | ||||||
Series A, 5.00%, 08/01/25 | 225 | 240,373 | ||||||
Series A-1, 5.00%, 08/01/25 | 215 | 229,690 | ||||||
Series B, 5.00%, 06/01/25 | 190 | 202,039 | ||||||
Series B, 5.00%, 08/01/25 | 115 | 122,857 | ||||||
Series D, 5.00%, 02/01/25 | 150 | 157,843 | ||||||
Series D, 5.00%, 06/01/25 | 750 | 797,522 | ||||||
Series E, 5.00%, 06/01/25 | 700 | 744,354 | ||||||
Series F, 0.00%, 12/01/25 (AMBAC)(a) | 410 | 381,489 | ||||||
Series R-2018C, 5.00%, 08/01/25 | 285 | 304,473 | ||||||
Series R-2018D, 5.00%, 08/01/25 | 405 | 432,672 | ||||||
University of Washington, 5.00%, 04/01/25 | 400 | 422,436 | ||||||
University of Washington RB | ||||||||
5.00%, 04/01/25 | 195 | 205,937 | ||||||
5.00%, 12/01/25 | 160 | 171,938 | ||||||
Series B, 4.00%, 06/01/25 | 240 | 249,063 | ||||||
22,005,623 |
13
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
West Virginia — 0.4% | ||||||||
State of West Virginia GO | ||||||||
5.00%, 06/01/25 | $ | 115 | $ | 122,152 | ||||
5.00%, 12/01/25 | 150 | 161,534 | ||||||
Series A, 5.00%, 06/01/25 | 720 | 764,776 | ||||||
West Virginia Commissioner of Highways RB, Series A, 5.00%, 09/01/25 | 455 | 484,260 | ||||||
West Virginia State School Building Authority Lottery Revenue RB, Series A, 5.00%, 07/01/25 | 240 | 255,333 | ||||||
1,788,055 | ||||||||
Wisconsin — 1.8% | ||||||||
Hamilton School District/WI GO, 5.00%, 04/01/25 | 180 | 190,410 | ||||||
State of Wisconsin Environmental Improvement Fund Revenue RB, Series A, 5.00%, 06/01/25 | 1,190 | 1,264,842 | ||||||
State of Wisconsin GO | ||||||||
5.00%, 05/01/25 | 285 | 302,360 | ||||||
5.00%, 05/01/32 (PR 05/01/25) | 720 | 763,205 | ||||||
Series 2, 4.00%, 11/01/25 | 135 | 141,098 | ||||||
Series 2, 5.00%, 11/01/25 | 2,375 | 2,555,014 | ||||||
Series A, 5.00%, 05/01/25 | 480 | 509,238 | ||||||
Series B, 5.00%, 05/01/25 | 250 | 265,228 | ||||||
State of Wisconsin RB, Series A, 5.00%, 05/01/25 | 295 | 312,369 | ||||||
Wisconsin Department of Transportation RB | ||||||||
Series 1, 5.00%, 07/01/25 | 520 | 553,980 | ||||||
Series 2, 5.00%, 07/01/25 | 675 | 719,109 | ||||||
7,576,853 | ||||||||
Total Long-Term Investments — 98.7% | ||||||||
(Cost: $423,242,599) | 418,400,178 | |||||||
Security | Shares (000) | Value | ||||||
Short-Term Securities | ||||||||
Money Market Funds — 0.3% | ||||||||
BlackRock Liquidity Funds: MuniCash, 1.39%(b)(c) | 1,399 | $ | 1,399,049 | |||||
Total Short-Term Securities — 0.3% | ||||||||
(Cost: $1,398,863) | 1,399,049 | |||||||
Total Investments — 99.0% | ||||||||
(Cost: $424,641,462) | 419,799,227 | |||||||
Other Assets Less Liabilities — 1.0% | 4,097,819 | |||||||
Net Assets — 100.0% | $ | 423,897,046 |
(a) | Zero-coupon bond. |
(b) | Affiliate of the Fund. |
(c) | Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/22 | Purchases at Cost | Proceeds from Sale | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 01/31/23 | Shares Held at 01/31/23 (000) | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds: MuniCash | $ | 1,305,035 | $ | 93,852 | (a) | $ | — | $ | (23 | ) | $ | 185 | $ | 1,399,049 | 1,399 | $ | 12,764 | $ | — |
(a) | Represents net amount purchased (sold). |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. 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 for identical assets or liabilities that each Fund has the ability to access; |
● | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and |
● | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (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. There may not be a secondary market, and/or there are 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.
14
Schedule of Investments (unaudited) (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
January 31, 2023 |
Fair Value Hierarchy as of Period End (continued)
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 | ||||||||||||||||
Municipal Debt Obligations | $ | — | $ | 418,400,178 | $ | — | $ | 418,400,178 | ||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 1,399,049 | — | — | 1,399,049 | ||||||||||||
$ | 1,399,049 | $ | 418,400,178 | $ | — | $ | 419,799,227 |
Portfolio Abbreviation
AGC | Assured Guaranty Corp. | PR | Prerefunded |
AGM | Assured Guaranty Municipal Corp. | PSF | Permanent School Fund |
AMBAC | Ambac Assurance Corp. | RB | Revenue Bond |
BAM | Build America Mutual Assurance Co. | SAP | Subject to Appropriations |
COP | Certificates of Participation | SAW | State Aid Withholding |
ETM | Escrowed to Maturity | SCH BD GTY | School Board Guaranty |
GO | General Obligation | SCSDE | South Carolina State Department of Education |
GOL | General Obligation Limited | ST | Special Tax |
GTD | Guaranteed | ||
NPFGC | National Public Finance Guarantee Corp. |
15