Schedule of Investments (unaudited)
July 31, 2024
iShares® Core U.S. REIT ETF
(Percentages shown are based on Net Assets)
Security | Shares | Value | |
Common Stocks | |||
Diversified REITs — 2.6% | |||
Alexander & Baldwin, Inc. | 165,253 | $ 3,257,137 | |
Alpine Income Property Trust, Inc. | 28,777 | 499,856 | |
American Assets Trust, Inc. | 108,003 | 2,864,240 | |
Armada Hoffler Properties, Inc. | 150,205 | 1,784,435 | |
Broadstone Net Lease, Inc. | 425,871 | 7,414,414 | |
CTO Realty Growth, Inc. | 50,847 | 1,020,499 | |
Empire State Realty Trust, Inc., Class A | 303,157 | 3,265,001 | |
Essential Properties Realty Trust, Inc. | 393,895 | 11,655,353 | |
Gladstone Commercial Corp. | 91,839 | 1,382,177 | |
Global Net Lease, Inc. | 454,543 | 3,954,524 | |
NexPoint Diversified Real Estate Trust | 76,091 | 481,656 | |
One Liberty Properties, Inc. | 36,454 | 962,021 | |
WP Carey, Inc. | 492,871 | 28,492,873 | |
67,034,186 | |||
Health Care REITs — 13.8% | |||
Alexandria Real Estate Equities, Inc. | 394,034 | 46,216,248 | |
American Healthcare REIT, Inc. | 148,217 | 2,362,579 | |
CareTrust REIT, Inc. | 306,007 | 8,249,949 | |
Community Healthcare Trust, Inc. | 61,557 | 1,339,480 | |
Diversified Healthcare Trust | 487,209 | 1,627,278 | |
Global Medical REIT, Inc. | 138,210 | 1,319,905 | |
Healthcare Realty Trust, Inc. | 864,728 | 15,297,038 | |
Healthpeak Properties, Inc. | 1,612,517 | 35,185,121 | |
LTC Properties, Inc. | 97,211 | 3,471,405 | |
Medical Properties Trust, Inc.(a) | 1,350,879 | 6,497,728 | |
National Health Investors, Inc. | 94,505 | 7,074,644 | |
Omega Healthcare Investors, Inc. | 561,182 | 20,427,025 | |
Sabra Health Care REIT, Inc. | 522,434 | 8,479,104 | |
Universal Health Realty Income Trust | 29,313 | 1,253,131 | |
Ventas, Inc. | 917,395 | 49,942,984 | |
Welltower, Inc. | 1,346,628 | 149,812,365 | |
358,555,984 | |||
Hotel & Resort REITs — 3.1% | |||
Apple Hospitality REIT, Inc. | 514,651 | 7,611,688 | |
Braemar Hotels & Resorts, Inc. | 153,566 | 545,159 | |
Chatham Lodging Trust | 109,300 | 960,747 | |
DiamondRock Hospitality Co. | 475,110 | 3,910,155 | |
Host Hotels & Resorts, Inc. | 1,585,346 | 27,759,409 | |
Park Hotels & Resorts, Inc. | 472,423 | 7,114,690 | |
Pebblebrook Hotel Trust(a) | 270,510 | 3,703,282 | |
RLJ Lodging Trust | 345,022 | 3,257,008 | |
Ryman Hospitality Properties, Inc. | 132,404 | 13,307,926 | |
Service Properties Trust | 372,793 | 2,113,736 | |
Summit Hotel Properties, Inc. | 235,592 | 1,493,653 | |
Sunstone Hotel Investors, Inc. | 460,802 | 4,773,909 | |
Xenia Hotels & Resorts, Inc. | 230,861 | 3,204,351 | |
79,755,713 | |||
Industrial REITs — 15.2% | |||
Americold Realty Trust, Inc. | 646,297 | 19,317,817 | |
EastGroup Properties, Inc. | 108,652 | 20,316,838 | |
First Industrial Realty Trust, Inc. | 300,364 | 16,435,918 | |
Industrial Logistics Properties Trust | 148,089 | 761,177 | |
Innovative Industrial Properties, Inc. | 63,659 | 7,817,962 | |
LXP Industrial Trust | 656,436 | 6,761,291 | |
Plymouth Industrial REIT, Inc. | 90,583 | 2,166,745 | |
Prologis, Inc. | 2,102,936 | 265,075,083 | |
Rexford Industrial Realty, Inc. | 490,467 | 24,577,301 |
Security | Shares | Value | |
Industrial REITs (continued) | |||
STAG Industrial, Inc. | 411,566 | $ 16,796,009 | |
Terreno Realty Corp. | 215,654 | 14,752,890 | |
394,779,031 | |||
Office REITs — 4.1% | |||
Brandywine Realty Trust | 378,052 | 1,905,382 | |
BXP, Inc. | 357,206 | 25,472,360 | |
City Office REIT, Inc. | 91,846 | 555,668 | |
COPT Defense Properties | 254,233 | 7,365,130 | |
Cousins Properties, Inc. | 344,527 | 9,477,938 | |
Douglas Emmett, Inc. | 321,437 | 5,171,921 | |
Easterly Government Properties, Inc. | 219,588 | 3,058,861 | |
Highwoods Properties, Inc. | 237,270 | 7,348,252 | |
Hudson Pacific Properties, Inc. | 305,767 | 1,831,544 | |
JBG SMITH Properties | 197,927 | 3,236,107 | |
Kilroy Realty Corp. | 265,814 | 9,827,144 | |
NET Lease Office Properties(a) | 33,655 | 993,159 | |
Office Properties Income Trust | 109,156 | 271,798 | |
Orion Office REIT, Inc. | 132,224 | 535,507 | |
Paramount Group, Inc. | 416,799 | 2,184,027 | |
Peakstone Realty Trust, Class E | 82,858 | 1,125,212 | |
Piedmont Office Realty Trust, Inc., Class A | 278,772 | 2,411,378 | |
Postal Realty Trust, Inc., Class A | 49,893 | 746,399 | |
SL Green Realty Corp. | 150,277 | 10,014,459 | |
Vornado Realty Trust | 398,602 | 11,954,074 | |
105,486,320 | |||
Residential REITs — 16.5% | |||
American Homes 4 Rent, Class A | 767,954 | 27,715,460 | |
Apartment Investment & Management Co., Class A(b) | 323,186 | 2,863,428 | |
AvalonBay Communities, Inc. | 322,703 | 66,128,299 | |
BRT Apartments Corp. | 26,546 | 497,472 | |
Camden Property Trust | 235,356 | 26,065,677 | |
Centerspace | 33,933 | 2,369,541 | |
Elme Communities | 197,839 | 3,256,430 | |
Equity LifeStyle Properties, Inc. | 419,140 | 28,786,535 | |
Equity Residential | 859,265 | 59,830,622 | |
Essex Property Trust, Inc. | 145,216 | 40,422,326 | |
Independence Realty Trust, Inc. | 510,191 | 9,515,062 | |
Invitation Homes, Inc. | 1,392,093 | 49,099,120 | |
Mid-America Apartment Communities, Inc. | 264,145 | 36,919,546 | |
NexPoint Residential Trust, Inc. | 51,248 | 2,239,025 | |
Sun Communities, Inc. | 280,553 | 35,554,482 | |
UDR, Inc. | 746,712 | 29,920,750 | |
UMH Properties, Inc. | 145,468 | 2,583,512 | |
Veris Residential, Inc. | 178,344 | 2,801,784 | |
426,569,071 | |||
Retail REITs — 16.7% | |||
Acadia Realty Trust | 229,206 | 4,960,018 | |
Agree Realty Corp. | 225,256 | 15,535,906 | |
Alexander’s, Inc. | 4,899 | 1,187,028 | |
Brixmor Property Group, Inc. | 681,531 | 17,358,595 | |
CBL & Associates Properties, Inc. | 51,737 | 1,333,262 | |
Federal Realty Investment Trust | 187,454 | 20,929,239 | |
Getty Realty Corp. | 112,177 | 3,322,683 | |
InvenTrust Properties Corp. | 153,958 | 4,336,997 | |
Kimco Realty Corp. | 1,498,408 | 32,560,406 | |
Kite Realty Group Trust | 490,216 | 12,088,727 | |
Macerich Co. (The) | 489,123 | 7,830,859 | |
NETSTREIT Corp. | 167,427 | 2,757,523 | |
NNN REIT, Inc. | 412,241 | 18,505,498 | |
Phillips Edison & Co., Inc. | 277,191 | 9,729,404 | |
Realty Income Corp. | 1,960,804 | 112,608,974 |
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Schedule of Investments (unaudited) (continued)
July 31, 2024
iShares® Core U.S. REIT ETF
(Percentages shown are based on Net Assets)
Security | Shares | Value | |
Retail REITs (continued) | |||
Regency Centers Corp. | 418,105 | $ 28,155,191 | |
Retail Opportunity Investments Corp. | 280,377 | 4,191,636 | |
Saul Centers, Inc. | 24,111 | 953,590 | |
Simon Property Group, Inc. | 736,046 | 112,938,898 | |
SITE Centers Corp. | 429,033 | 6,628,560 | |
Tanger, Inc. | 238,727 | 6,899,210 | |
Urban Edge Properties | 271,204 | 5,505,441 | |
Whitestone REIT | 112,117 | 1,547,215 | |
431,864,860 | |||
Specialized REITs — 27.6% | |||
CubeSmart | 508,906 | 24,213,748 | |
Digital Realty Trust, Inc. | 734,729 | 109,834,638 | |
EPR Properties | 169,933 | 7,646,985 | |
Equinix, Inc. | 215,743 | 170,488,748 | |
Extra Space Storage, Inc. | 475,790 | 75,945,600 | |
Farmland Partners, Inc. | 100,205 | 1,064,177 | |
Four Corners Property Trust, Inc. | 208,021 | 5,645,690 | |
Gaming & Leisure Properties, Inc. | 592,447 | 29,740,839 | |
Gladstone Land Corp. | 76,741 | 1,139,604 | |
Iron Mountain, Inc. | 662,330 | 67,928,565 | |
Lamar Advertising Co., Class A | 198,059 | 23,739,352 | |
National Storage Affiliates Trust | 162,932 | 6,936,015 | |
Outfront Media, Inc. | 335,194 | 5,436,847 | |
Public Storage | 359,798 | 106,471,424 | |
Safehold, Inc. | 117,986 | 2,730,196 | |
VICI Properties, Inc. | 2,371,664 | 74,138,217 | |
713,100,645 | |||
Total Long-Term Investments — 99.6% (Cost: $2,639,116,941) | 2,577,145,810 |
Security | Shares | Value | |
Short-Term Securities | |||
Money Market Funds — 0.4% | |||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.45%(c)(d)(e) | 2,138,223 | $ 2,139,078 | |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(c)(d) | 7,524,491 | 7,524,491 | |
Total Short-Term Securities — 0.4% (Cost: $9,663,410) | 9,663,569 | ||
Total Investments — 100.0% (Cost: $2,648,780,351) | 2,586,809,379 | ||
Liabilities in Excess of Other Assets — (0.0)% | (935,227) | ||
Net Assets — 100.0% | $ 2,585,874,152 |
(a) | All or a portion of this security is on loan. |
(b) | Non-income producing security. |
(c) | Affiliate of the Fund. |
(d) | Annualized 7-day yield as of period end. |
(e) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 04/30/24 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 07/31/24 | Shares Held at 07/31/24 | Income | Capital Gain Distributions from Underlying Funds | |||
BlackRock Cash Funds: Institutional, SL Agency Shares | $ 2,558,636 | $ — | $ (419,535)(a) | $ 153 | $ (176) | $ 2,139,078 | 2,138,223 | $ 6,043(b) | $ — | |||
BlackRock Cash Funds: Treasury, SL Agency Shares | 6,904,914 | 619,577(a) | — | — | — | 7,524,491 | 7,524,491 | 93,439 | — | |||
$ 153 | $ (176) | $ 9,663,569 | $ 99,482 | $ — |
(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
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Schedule of Investments (unaudited) (continued)
July 31, 2024
iShares® Core U.S. REIT ETF
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Dow Jones U.S. Real Estate Index | 226 | 09/20/24 | $ 8,204 | $ 578,369 |
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 the 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.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | ||||
Assets | |||||||
Investments | |||||||
Long-Term Investments | |||||||
Common Stocks | $ 2,577,145,810 | $ — | $ — | $ 2,577,145,810 | |||
Short-Term Securities | |||||||
Money Market Funds | 9,663,569 | — | — | 9,663,569 | |||
$ 2,586,809,379 | $ — | $ — | $ 2,586,809,379 | ||||
Derivative Financial Instruments(a) | |||||||
Assets | |||||||
Equity Contracts | $ 578,369 | $ — | $ — | $ 578,369 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Portfolio Abbreviation | |
REIT | Real Estate Investment Trust |
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