Schedule of Investments (unaudited) March 31, 2024 | iShares Municipal Bond Index Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Municipal Bonds | ||||||||
Alabama — 0.2% | ||||||||
County/City/Special District/School District — 0.2% | ||||||||
Alabama Public School and College Authority, Refunding RB, Series A, Sustainability Bonds, 4.00%, 11/01/38 | $ | 395 | $ | 407,693 | ||||
|
| |||||||
Arizona — 0.0% | ||||||||
County/City/Special District/School District — 0.0% | ||||||||
City of Phoenix Arizona, Refunding GO, 5.00%, 07/01/24. | 5 | 5,016 | ||||||
|
| |||||||
California — 22.2% | ||||||||
County/City/Special District/School District — 6.5% | ||||||||
Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/38 | 500 | 504,455 | ||||||
California Educational Facilities Authority, RB | ||||||||
Series U-6, 5.00%, 05/01/45 | 1,260 | 1,531,412 | ||||||
Series U-7, 5.00%, 06/01/46 | 495 | 601,691 | ||||||
California Health Facilities Financing Authority, Refunding RB, Series A, 5.00%, 08/15/51 | 1,000 | 1,080,718 | ||||||
California Infrastructure & Economic Development Bank, RB, 4.00%, 10/01/45 | 1,510 | 1,548,636 | ||||||
Contra Costa Community College District, GO, Series A, Election 2014, 4.00%, 08/01/39 | 1,000 | 1,000,063 | ||||||
El Camino Community College District Foundation, GO, CAB, Series C, Election 2002, 0.00%, 08/01/38(a) | 680 | 403,117 | ||||||
Fremont Union High School District, Refunding GO, Series A, 5.00%, 08/01/44 | 1,350 | 1,423,051 | ||||||
Los Angeles County Facilities, Inc., RB, Series A, 4.00%, 12/01/48 | 1,000 | 975,766 | ||||||
Los Angeles Unified School District, GO, Series B-1, Election 2008, 5.00%, 07/01/33 | 1,500 | 1,626,522 | ||||||
Poway Unified School District, Refunding GO, 0.00%, 08/01/46(a) | 995 | 364,501 | ||||||
Sacramento City Financing Authority, Refunding RB, Series E, (AMBAC), 5.25%, 12/01/30 | 250 | 285,877 | ||||||
San Diego Community College District, Refunding GO, 4.00%, 08/01/26(b) | 500 | 514,092 | ||||||
San Diego Unified School District, GO | ||||||||
Series L, 4.00%, 07/01/49 | 1,000 | 999,596 | ||||||
Series I, Election 2012, 5.00%, 07/01/41 | 1,000 | 1,050,163 | ||||||
Series I, Election 2012, 5.00%, 07/01/47 | 2,075 | 2,158,089 | ||||||
San Marcos Unified School District, GO, CAB, Series B, Election 2010, 0.00%, 08/01/51(a) | 350 | 102,519 | ||||||
|
| |||||||
16,170,268 | ||||||||
Education — 2.9% | ||||||||
California State University, Refunding RB | ||||||||
Series A, 4.00%, 11/01/35 | 500 | 505,565 | ||||||
Series A, 4.00%, 11/01/38 | 500 | 502,512 | ||||||
Series A, 5.00%, 11/01/43 | 540 | 552,628 | ||||||
Series A, 5.00%, 11/01/48 | 1,030 | 1,097,182 | ||||||
Lodi Unified School District, GO, Series 2022, Election 2016, 3.00%, 08/01/43 | 975 | 823,186 | ||||||
University of California, Refunding RB | ||||||||
Series AR, 5.00%, 05/15/41 | 605 | 626,396 | ||||||
Series AY, 5.00%, 05/15/32 | 500 | 534,022 | ||||||
Series BE, 4.00%, 05/15/47 | 1,000 | 1,005,122 | ||||||
Series BN, 5.00%, 05/15/41 | 1,000 | 1,139,849 | ||||||
Series BN, 5.00%, 05/15/42 | 415 | 470,712 | ||||||
|
| |||||||
7,257,174 | ||||||||
State — 5.2% | ||||||||
Bay Area Toll Authority, RB, Series F-1, 4.00%, 04/01/56 | 1,000 | 965,442 |
Security | Par (000) | Value | ||||||
State (continued) | ||||||||
California State Public Works Board, Refunding RB | ||||||||
Series B, 5.00%, 10/01/26(c) | $ | 250 | $ | 262,654 | ||||
Series C, 5.00%, 08/01/30 | 1,000 | 1,141,626 | ||||||
State of California, Refunding GO | ||||||||
5.00%, 10/01/24 | 45 | 45,373 | ||||||
5.00%, 08/01/26 | 540 | 553,663 | ||||||
5.00%, 08/01/27 | 1,000 | 1,047,256 | ||||||
5.00%, 09/01/28 | 1,000 | 1,095,741 | ||||||
5.00%, 08/01/31 | 1,000 | 1,051,261 | ||||||
5.00%, 09/01/31 | 565 | 594,964 | ||||||
4.00%, 09/01/32 | 250 | 254,543 | ||||||
5.00%, 04/01/35 | 1,000 | 1,161,759 | ||||||
3.00%, 10/01/37 | 825 | 773,179 | ||||||
5.00%, 09/01/43 | 1,500 | 1,688,558 | ||||||
5.00%, 12/01/43 | 150 | 150,043 | ||||||
3.00%, 04/01/52 | 1,000 | 775,504 | ||||||
5.00%, 09/01/52 | 1,360 | 1,482,728 | ||||||
|
| |||||||
13,044,294 | ||||||||
Tobacco — 1.0% | ||||||||
Golden State Tobacco Securitization Corp., Refunding RB, Series A, (SAP), 5.00%, 06/01/25(b) | 2,400 | 2,451,652 | ||||||
|
| |||||||
Transportation — 2.5% | ||||||||
City of Long Beach California Harbor Revenue, Refunding ARB, Series C, 5.00%, 05/15/47 | 500 | 520,094 | ||||||
City of Los Angeles Department of Airports, ARB, Sub- Series B, 5.00%, 05/15/42 | 1,500 | 1,574,307 | ||||||
City of Los Angeles Department of Airports, Refunding ARB | ||||||||
AMT, Subordinate, 3.00%, 11/15/31(b) | 55 | 54,423 | ||||||
AMT, Subordinate, 3.00%, 05/15/40 | 1,210 | 1,045,323 | ||||||
Foothill-Eastern Transportation Corridor Agency, RB, Series A, Senior Lien, 4.00%, 01/15/46 | 1,000 | 961,582 | ||||||
Foothill-Eastern Transportation Corridor Agency, Refunding RB, CAB(a) | ||||||||
Series A, (AGM), 0.00%, 01/15/36 | 500 | 333,189 | ||||||
Series A, (AGM), 0.00%, 01/15/37 | 1,000 | 631,634 | ||||||
Riverside County Transportation Commission, Refunding RB, Series B1, Senior Lien, 4.00%, 06/01/37 | 1,154 | 1,184,837 | ||||||
|
| |||||||
6,305,389 | ||||||||
Utilities — 4.1% | ||||||||
East Bay Municipal Utility District Water System Revenue, Refunding RB | ||||||||
Series B, 5.00%, 06/01/33 | 1,435 | 1,546,764 | ||||||
Series B-2, 5.00%, 06/01/34 | 1,000 | 1,242,412 | ||||||
Los Angeles Department of Water & Power, RB, Series D, 5.00%, 07/01/44 | 1,500 | 1,501,513 | ||||||
Los Angeles Department of Water & Power, Refunding RB, Series A, 5.00%, 07/01/37 | 1,000 | 1,077,988 | ||||||
San Diego County Water Authority, RB, Series A, 5.00%, 05/01/47 | 1,550 | 1,736,326 | ||||||
San Diego Public Facilities Financing Authority, Refunding RB, Series A, Subordinate, 5.00%, 08/01/43 | 500 | 534,723 |
S C H E D U L E O F I N V E S T M E N T S | 1 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | iShares Municipal Bond Index Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Utilities (continued) |
| |||||||
San Francisco City & County Public Utilities Commission Wastewater Revenue, Refunding RB, Series B, 4.00%, 10/01/42 | $ | 1,500 | $ | 1,468,473 | ||||
State of California Department of Water Resources, Refunding RB, Series AW, 5.00%, 12/01/26(b) | 1,000 | 1,055,818 | ||||||
|
| |||||||
10,164,017 | ||||||||
|
| |||||||
Total Municipal Bonds in California |
| 55,392,794 | ||||||
Colorado — 3.6% | ||||||||
County/City/Special District/School District — 1.1% | ||||||||
Board of Water Commissioners City & County of Denver, RB, Series A, 4.00%, 12/15/26 | 1,230 | 1,230,524 | ||||||
City & County of Denver Colorado Pledged Excise Tax Revenue, Refunding RB, Series A, 4.00%, 08/01/46 | 1,500 | 1,459,141 | ||||||
|
| |||||||
2,689,665 | ||||||||
Health — 0.4% | ||||||||
Colorado Health Facilities Authority, Refunding RB, Series A, 5.00%, 08/01/44 | 1,000 | 1,043,750 | ||||||
|
| |||||||
State — 0.2% | ||||||||
State of Colorado, COP, Series N, 4.00%, 03/15/43 | 500 | 498,443 | ||||||
|
| |||||||
Transportation — 1.9% | ||||||||
City & County of Denver Colorado Airport System | ||||||||
Revenue, Refunding ARB | ||||||||
Series A, AMT, 5.00%, 12/01/35 | 1,000 | 1,061,815 | ||||||
Series D, AMT, 5.50%, 11/15/29 | 3,000 | 3,360,912 | ||||||
E-470 Public Highway Authority, Refunding RB, Series A, 5.00%, 09/01/40 | 400 | 401,331 | ||||||
|
| |||||||
4,824,058 | ||||||||
|
| |||||||
Total Municipal Bonds in Colorado | 9,055,916 | |||||||
Connecticut — 1.4% | ||||||||
State — 1.2% | ||||||||
State of Connecticut Special Tax Revenue, RB | ||||||||
Series A, 4.00%, 05/01/36 | 1,000 | 1,050,163 | ||||||
Series A, 4.00%, 05/01/39 | 500 | 512,963 | ||||||
State of Connecticut, GO | ||||||||
Series B, 5.00%, 06/15/28 | 400 | 408,125 | ||||||
Series B, 4.00%, 06/15/33 | 850 | 852,123 | ||||||
State of Connecticut, Refunding GO, Series B, 5.00%, 05/15/25 | 250 | 254,733 | ||||||
|
| |||||||
3,078,107 | ||||||||
Transportation — 0.2% | ||||||||
State of Connecticut Special Tax Revenue, RB, Series A, 4.00%, 09/01/36 | 430 | 431,613 | ||||||
|
| |||||||
Total Municipal Bonds in Connecticut | 3,509,720 | |||||||
|
| |||||||
District of Columbia — 1.6% | ||||||||
State — 0.4% | ||||||||
District of Columbia, GO, Series D, 4.00%, 06/01/34 | 1,000 | 1,026,678 | ||||||
|
|
Security | Par (000) | Value | ||||||
Transportation — 1.2% | ||||||||
Metropolitan Washington Airports Authority Aviation Revenue, Refunding ARB, Series A, AMT, 4.00%, 10/01/51 | $ | 1,500 | $ | 1,398,514 | ||||
Washington Metropolitan Area Transit Authority Dedicated Revenue, RB, Series A, 4.00%, 07/15/45 | 1,500 | 1,463,487 | ||||||
|
| |||||||
2,862,001 | ||||||||
|
| |||||||
Total Municipal Bonds in District of Columbia | 3,888,679 | |||||||
Florida — 2.4% | ||||||||
County/City/Special District/School District — 0.8% | ||||||||
County of Miami-Dade Florida Transit System, RB, Series A, 4.00%, 07/01/50 | 1,500 | 1,431,062 | ||||||
School Board of Miami-Dade County, Refunding COP, Series D, 5.00%, 02/01/27 | 500 | 515,105 | ||||||
|
| |||||||
1,946,167 | ||||||||
Health — 0.4% | ||||||||
City of Tampa Florida, RB, Series B, 5.00%, 07/01/50 | 1,000 | 1,039,052 | ||||||
|
| |||||||
Transportation — 1.2% | ||||||||
Central Florida Expressway Authority, Refunding RB, Series B, Senior Lien, 5.00%, 07/01/33 | 1,000 | 1,023,901 | ||||||
Greater Orlando Aviation Authority, ARB, Series A, AMT, 5.00%, 10/01/54 | 850 | 871,024 | ||||||
Miami-Dade County Expressway Authority, Refunding RB, Series B, 5.00%, 07/01/25 | 1,000 | 1,002,827 | ||||||
|
| |||||||
2,897,752 | ||||||||
|
| |||||||
Total Municipal Bonds in Florida | 5,882,971 | |||||||
Georgia — 2.8% | ||||||||
County/City/Special District/School District — 1.0% | ||||||||
Gwinnett County School District, GO, 5.00%, 02/01/40 | 1,400 | 1,516,120 | ||||||
Metropolitan Atlanta Rapid Transit Authority, Refunding RB, Series B, 5.00%, 07/01/35 | 1,000 | 1,043,218 | ||||||
|
| |||||||
2,559,338 | ||||||||
State — 1.0% | ||||||||
State of Georgia, GO, Series A, 5.00%, 02/01/29 | 650 | 673,527 | ||||||
State of Georgia, Refunding GO, Series C, 5.00%, 07/01/28 | 1,710 | 1,830,985 | ||||||
|
| |||||||
2,504,512 | ||||||||
Transportation — 0.8% | ||||||||
City of Atlanta Georgia Department of Aviation, Refunding RB, Series A, 5.00%, 07/01/29 | 1,000 | 1,113,231 | ||||||
Georgia Ports Authority, ARB, 5.25%, 07/01/52 | 750 | 827,475 | ||||||
|
| |||||||
1,940,706 | ||||||||
|
| |||||||
Total Municipal Bonds in Georgia | 7,004,556 | |||||||
Illinois — 5.2% | ||||||||
County/City/Special District/School District — 0.1% | ||||||||
City of Chicago Illinois, GO, Series A, 5.50%, 01/01/39 | 150 | 165,456 | ||||||
|
| |||||||
Health — 0.4% | ||||||||
Illinois Finance Authority, Refunding RB, 5.00%, 12/01/40 | 1,000 | 1,020,042 | ||||||
|
| |||||||
State — 2.8% | ||||||||
Metropolitan Pier & Exposition Authority, Refunding RB(a) | ||||||||
Series B, (AGM), 0.00%, 06/15/44 | 1,000 | 412,242 | ||||||
Series B, (AGM), 0.00%, 06/15/46 | 1,105 | 404,105 |
2 |
|
Schedule of Investments (unaudited) (continued) March 31, 2024 | iShares Municipal Bond Index Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
State (continued) | ||||||||
State of Illinois Sales Tax Revenue, RB, Series A, 5.00%, 06/15/29 | $ | 1,000 | $ | 1,101,712 | ||||
State of Illinois, GO | 1,500 | 1,500,545 | ||||||
Series C, 5.00%, 11/01/29 | 1,000 | 1,060,135 | ||||||
Series D, 5.00%, 11/01/24 | 1,000 | 1,008,118 | ||||||
Series D, 5.00%, 11/01/26 | 500 | 521,416 | ||||||
State of Illinois, Refunding GO | ||||||||
Series A, 5.00%, 10/01/25 | 500 | 511,148 | ||||||
Series A, 5.00%, 10/01/28 | 500 | 539,708 | ||||||
|
| |||||||
7,059,129 | ||||||||
Transportation — 1.4% | ||||||||
Chicago O’Hare International Airport, Refunding ARB | ||||||||
Series B, Senior Lien, 4.00%, 01/01/44 | 1,000 | 979,244 | ||||||
Series B, Senior Lien, 5.00%, 01/01/48 | 1,000 | 1,049,273 | ||||||
Chicago Transit Authority Capital Grant Receipts Revenue, Refunding RB, 5.00%, 06/01/28 | 190 | 202,240 | ||||||
Illinois State Toll Highway Authority, RB, Series B, 5.00%, 01/01/41 | 1,000 | 1,022,178 | ||||||
Illinois State Toll Highway Authority, Refunding RB | ||||||||
Series A, 5.00%, 01/01/25 | 100 | 101,064 | ||||||
Series A, 5.00%, 01/01/30 | 250 | 274,184 | ||||||
|
| |||||||
3,628,183 | ||||||||
Utilities — 0.5% | ||||||||
Illinois Finance Authority, RB, Sustainability Bonds, 5.00%, 07/01/36 | 1,085 | 1,222,561 | ||||||
|
| |||||||
Total Municipal Bonds in Illinois | 13,095,371 | |||||||
|
| |||||||
Indiana — 0.0% | ||||||||
Transportation — 0.0% | ||||||||
Indiana Finance Authority, Refunding RB, Series C, 5.00%, 12/01/24 | 100 | 100,993 | ||||||
|
| |||||||
Kansas — 0.9% | ||||||||
Health — 0.3% | ||||||||
University of Kansas Hospital Authority, Refunding RB | ||||||||
Series A, 5.00%, 03/01/27(b) | 155 | 162,426 | ||||||
Series A, 5.00%, 03/01/47 | 425 | 433,100 | ||||||
|
| |||||||
595,526 | ||||||||
Transportation — 0.6% | ||||||||
State of Kansas Department of Transportation, RB | 1,000 | 1,024,278 | ||||||
5.00%, 09/01/34 | 500 | 510,260 | ||||||
|
| |||||||
1,534,538 | ||||||||
|
| |||||||
Total Municipal Bonds in Kansas | 2,130,064 | |||||||
Maryland — 2.4% | ||||||||
State — 1.9% | ||||||||
State of Maryland, GO | ||||||||
Series A, 5.00%, 03/15/28 | 450 | 488,858 | ||||||
Series A, 5.00%, 03/15/30 | 1,000 | 1,133,052 | ||||||
Series A, 5.00%, 03/15/31 | 400 | 426,747 |
Security | Par (000) | Value | ||||||
State (continued) | ||||||||
State of Maryland, GO (continued) | ||||||||
Series A, 5.00%, 06/01/33 | $ | 1,500 | $ | 1,763,834 | ||||
State of Maryland, Refunding GO, Series B, 5.00%, 08/01/25 | 1,000 | 1,023,928 | ||||||
|
| |||||||
4,836,419 | ||||||||
Transportation — 0.5% | ||||||||
State of Maryland Department of Transportation, ARB | 405 | 405,036 | ||||||
4.00%, 11/01/29 | 695 | 696,409 | ||||||
|
| |||||||
1,101,445 | ||||||||
|
| |||||||
Total Municipal Bonds in Maryland | 5,937,864 | |||||||
Massachusetts — 3.4% | ||||||||
Education — 0.7% | ||||||||
Massachusetts Development Finance Agency, RB, Series P, | 500 | 593,187 | ||||||
Massachusetts Development Finance Agency, Refunding RB, Series A, | 1,000 | 1,200,832 | ||||||
University of Massachusetts Building Authority, Refunding RB, Series 1, | 75 | 75,636 | ||||||
|
| |||||||
1,869,655 | ||||||||
Health — 0.4% | ||||||||
Massachusetts Development Finance Agency, Refunding RB, | 1,000 | 1,071,589 | ||||||
|
| |||||||
State — 2.3% | ||||||||
Commonwealth of Massachusetts, GO | ||||||||
Series A, 5.00%, 03/01/26 | 725 | 751,814 | ||||||
Series B, 3.00%, 02/01/48 | 1,000 | 796,173 | ||||||
Series D, 5.00%, 11/01/31 | 1,000 | 1,169,717 | ||||||
Series E, 4.00%, 04/01/46 | 530 | 517,680 | ||||||
Series F, 5.00%, 11/01/42 | 1,000 | 1,047,155 | ||||||
Series G, 4.00%, 09/01/32 | 1,325 | 1,352,789 | ||||||
|
| |||||||
5,635,328 | ||||||||
|
| |||||||
Total Municipal Bonds in Massachusetts |
| 8,576,572 | ||||||
Michigan — 1.4% | ||||||||
Education — 0.3% | ||||||||
University of Michigan, Refunding RB, 5.00%, 04/01/26(b) | 585 | 607,576 | ||||||
|
| |||||||
Health — 0.4% | ||||||||
Michigan Finance Authority, Refunding RB, Series A, 5.00%, 12/01/41 | 1,000 | 1,055,236 | ||||||
|
| |||||||
State — 0.7% | ||||||||
Michigan State Building Authority, Refunding RB, | ||||||||
Series I, 3.00%, 10/15/51 | 1,000 | 764,352 | ||||||
State of Michigan Trunk Line Revenue, RB, Series B, 5.00%, 11/15/45 | 1,000 | 1,080,170 | ||||||
|
| |||||||
1,844,522 | ||||||||
|
| |||||||
Total Municipal Bonds in Michigan | 3,507,334 | |||||||
Minnesota — 0.4% | ||||||||
Health — 0.4% | ||||||||
City of Rochester Minnesota, Refunding RB, 5.00%, 11/15/57 | 1,000 | 1,078,515 | ||||||
|
|
S C H E D U L E O F I N V E S T M E N T S | 3 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | iShares Municipal Bond Index Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Missouri — 0.4% | ||||||||
Utilities — 0.4% | ||||||||
Metropolitan St Louis Sewer District, Refunding RB | ||||||||
Series B, 5.00%, 05/01/25(b) | $ | 330 | $ | 335,825 | ||||
Series B, 5.00%, 05/01/45 | 705 | 717,068 | ||||||
|
| |||||||
Total Municipal Bonds in Missouri | 1,052,893 | |||||||
New Jersey — 5.5% | ||||||||
Education — 0.4% | ||||||||
New Jersey Economic Development Authority, RB, Series EEE, 5.00%, 06/15/48 | 1,000 | 1,034,135 | ||||||
|
| |||||||
Health — 0.4% | ||||||||
New Jersey Health Care Facilities Financing Authority, RB, | 1,000 | 963,975 | ||||||
|
| |||||||
State — 1.1% | ||||||||
State of New Jersey, GO | ||||||||
Series A, 5.00%, 06/01/29 | 1,000 | 1,106,186 | ||||||
Series A, 4.00%, 06/01/31 | 1,500 | 1,622,920 | ||||||
|
| |||||||
2,729,106 | ||||||||
Transportation — 3.6% | ||||||||
New Jersey Transportation Trust Fund Authority, RB | ||||||||
Series A, 0.00%, 12/15/25(a) | 100 | 94,326 | ||||||
Series A, 0.00%, 12/15/32(a) | 250 | 187,518 | ||||||
Series AA, 5.00%, 06/15/25 | 150 | 150,348 | ||||||
Series AA, 4.75%, 06/15/38 | 280 | 283,447 | ||||||
Series AA, 3.00%, 06/15/50 | 1,000 | 765,191 | ||||||
Series S, 5.00%, 06/15/46 | 500 | 518,155 | ||||||
New Jersey Transportation Trust Fund Authority, RB, CAB(a) | ||||||||
Series A, 0.00%, 12/15/35 | 3,075 | 2,031,815 | ||||||
Series A, 0.00%, 12/15/38 | 530 | 296,085 | ||||||
New Jersey Transportation Trust Fund Authority, Refunding RB | ||||||||
Series A, 4.00%, 12/15/31 | 1,000 | 1,036,333 | ||||||
Series A, 5.00%, 12/15/36 | 1,000 | 1,071,545 | ||||||
Series D, 5.00%, 12/15/24 | 250 | 252,308 | ||||||
New Jersey Turnpike Authority, Refunding RB | ||||||||
Series E, 5.00%, 01/01/29 | 1,000 | 1,076,179 | ||||||
Series E, 5.00%, 01/01/32 | 1,100 | 1,181,735 | ||||||
|
| |||||||
8,944,985 | ||||||||
|
| |||||||
Total Municipal Bonds in New Jersey | 13,672,201 | |||||||
New York — 23.1% | ||||||||
County/City/Special District/School District — 7.2% | ||||||||
City of New York, GO | ||||||||
Series B-1, 5.00%, 12/01/41 | 1,390 | 1,432,660 | ||||||
Series C, 4.00%, 08/01/40 | 1,840 | 1,863,015 | ||||||
Series D, 5.00%, 12/01/35 | 500 | 542,996 | ||||||
Series D, 4.00%, 12/01/41 | 1,000 | 987,747 | ||||||
Series F-1, 5.00%, 03/01/43 | 1,000 | 1,083,323 | ||||||
Series F-1, 5.00%, 03/01/50 | 1,000 | 1,057,161 | ||||||
City of New York, Refunding GO, Sub-Series F-1, 5.00%, 08/01/27 | 380 | 405,433 | ||||||
Nassau County Interim Finance Authority, Refunding RB, Series A, 4.00%, 11/15/34 | 310 | 335,566 | ||||||
New York City Industrial Development Agency, Refunding RB, (AGM), 4.00%, 03/01/45 | 300 | 290,577 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, RB 5.00%, 05/01/37 | 1,000 | 1,030,020 | ||||||
Series A1, 5.00%, 08/01/36 | 500 | 537,716 | ||||||
Series A1, 5.00%, 08/01/42 | 1,000 | 1,056,513 |
Security | Par (000) | Value | ||||||
County/City/Special District/School District (continued) | ||||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, RB (continued) | ||||||||
Subordinate, 4.00%, 05/01/42 | $ | 1,000 | $ | 1,005,060 | ||||
Series A-1, Subordinate, 4.00%, 08/01/38 | 1,000 | 1,033,885 | ||||||
Series C-1, Subordinate, 5.00%, 02/01/32 | 2,285 | 2,662,809 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, Refunding RB, Series B-1, 5.00%, 11/01/30 | 1,400 | 1,598,233 | ||||||
New York State Urban Development Corp., RB, Class A, 4.00%, 03/15/47 | 1,000 | 959,594 | ||||||
|
| |||||||
17,882,308 | ||||||||
Education — 1.6% | ||||||||
New York State Dormitory Authority, RB | 1,500 | 1,787,147 | ||||||
Series A, 4.00%, 07/01/41 | 1,000 | 993,501 | ||||||
Series A, 5.00%, 10/01/48 | 1,000 | 1,180,823 | ||||||
|
| |||||||
3,961,471 | ||||||||
State — 5.9% | ||||||||
New York City Transitional Finance Authority Building Aid Revenue, Refunding RB, Series S-2A, Subordinate, (SAW), 4.00%, 07/15/36 | 1,455 | 1,489,889 | ||||||
New York State Dormitory Authority, RB, Series A, 5.00%, 03/15/35 | 740 | 796,712 | ||||||
New York State Dormitory Authority, Refunding RB | ||||||||
Series A, 5.00%, 03/15/27 | 1,000 | 1,059,743 | ||||||
Series A, 5.00%, 03/15/28(c) | 250 | 272,621 | ||||||
Series A, 4.00%, 03/15/43 | 500 | 493,220 | ||||||
Series A, 3.00%, 03/15/51 | 2,000 | 1,534,054 | ||||||
Series D, 4.00%, 02/15/47 | 1,000 | 973,109 | ||||||
Series E, 5.00%, 03/15/27(c) | 500 | 532,393 | ||||||
Series E, 5.00%, 09/15/28(b) | 5 | 5,461 | ||||||
Series E, 5.00%, 03/15/29 | 995 | 1,087,721 | ||||||
Series E, 3.00%, 03/15/41 | 1,500 | 1,296,157 | ||||||
New York State Urban Development Corp., RB, Series A, 4.00%, 03/15/49 | 1,000 | 956,690 | ||||||
New York State Urban Development Corp., Refunding RB | ||||||||
Series A, 5.00%, 03/15/27(c) | 600 | 636,242 | ||||||
Series A, 5.00%, 03/15/39 | 1,000 | 1,088,758 | ||||||
Series E, 3.00%, 03/15/47 | 715 | 572,151 | ||||||
Series E, 3.00%, 03/15/50 | 1,130 | 876,312 | ||||||
Sales Tax Asset Receivable Corp., Refunding RB, Series A, 5.00%, 10/15/24(b) | 1,000 | 1,007,685 | ||||||
|
| |||||||
14,678,918 | ||||||||
Transportation — 6.3% | ||||||||
Hudson Yards Infrastructure Corp., Refunding RB, | ||||||||
Series A, 5.00%, 02/15/42 | 910 | 946,061 | ||||||
Metropolitan Transportation Authority, RB | ||||||||
Series A, 4.00%, 11/15/48 | 500 | 472,040 | ||||||
Series D1, Sustainability Bonds, 5.00%, 11/15/44 | 300 | 317,717 | ||||||
Metropolitan Transportation Authority, Refunding RB | ||||||||
Series B, 5.00%, 11/15/37 | 1,075 | 1,110,550 | ||||||
Series D-1, Sustainability Bonds, 5.00%, 11/15/34(d) | 1,000 | 1,002,962 | ||||||
Sub-Series C-1, Sustainability Bonds, 5.00%, 11/15/34 | 1,000 | 1,063,802 | ||||||
New York State Thruway Authority, Refunding RB | ||||||||
Series A-1, 4.00%, 03/15/44 | 1,000 | 986,093 | ||||||
Series A-3, 4.00%, 03/15/56 | 1,000 | 937,035 | ||||||
Series B, Subordinate, 4.00%, 01/01/50 | 1,000 | 960,056 | ||||||
Port Authority of New York & New Jersey, Refunding ARB | ||||||||
Series 194, 5.00%, 10/15/41 | 835 | 849,685 |
4 |
|
Schedule of Investments (unaudited) (continued) March 31, 2024 | iShares Municipal Bond Index Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Transportation (continued) | ||||||||
Port Authority of New York & New Jersey, Refunding ARB (continued) | ||||||||
Series 240, 5.00%, 07/15/48 | $ | 1,840 | $ | 2,015,391 | ||||
Triborough Bridge & Tunnel Authority, RB, Series A, 4.00%, 11/15/42 | 625 | 624,646 | ||||||
Triborough Bridge & Tunnel Authority, Refunding RB | ||||||||
Series A, 5.00%, 11/15/31 | 1,000 | 1,034,762 | ||||||
Series A, 5.00%, 11/15/40 | 600 | 605,859 | ||||||
Series B, 5.00%, 11/15/38 | 1,000 | 1,047,153 | ||||||
Senior Lien, Sustainability Bonds, | 1,605 | 1,768,051 | ||||||
|
| |||||||
15,741,863 | ||||||||
Utilities — 2.1% | ||||||||
New York City Municipal Water Finance Authority, RB | ||||||||
Series CC-1, 5.00%, 06/15/48 | 1,000 | 1,038,168 | ||||||
Series DD-1, 4.00%, 06/15/49 | 1,000 | 967,364 | ||||||
New York City Municipal Water Finance Authority, Refunding RB | ||||||||
Series DD, 5.00%, 06/15/39 | 420 | 420,965 | ||||||
Series EE, 5.00%, 06/15/36 | 1,000 | 1,024,679 | ||||||
New York Power Authority, RB, (AGM), 4.00%, 11/15/52 | 1,000 | 970,658 | ||||||
New York Power Authority, Refunding RB, Series A, Sustainability Bonds, | 1,000 | 969,820 | ||||||
|
| |||||||
5,391,654 | ||||||||
|
| |||||||
Total Municipal Bonds in New York | 57,656,214 | |||||||
North Carolina — 0.7% | ||||||||
Housing — 0.4% | ||||||||
North Carolina Housing Finance Agency, RB, S/F | ||||||||
Housing, Series 52-A, Sustainability Bonds, (FHLMC, FNMA, GNMA), 5.00%, 07/01/46 | 1,000 | 1,039,490 | ||||||
|
| |||||||
Transportation(a) — 0.3% | ||||||||
North Carolina Turnpike Authority, RB, Series B, (AGC), 0.00%, 01/01/34 | 500 | 350,081 | ||||||
North Carolina Turnpike Authority, RB, CAB, 0.00%, 01/01/49 | 1,000 | 323,332 | ||||||
|
| |||||||
673,413 | ||||||||
|
| |||||||
Total Municipal Bonds in North Carolina |
| 1,712,903 | ||||||
Ohio — 1.7% | ||||||||
County/City/Special District/School District — 0.4% | ||||||||
American Municipal Power, Inc., Refunding RB, 5.00%, 02/15/33 | 1,000 | 1,110,758 | ||||||
|
| |||||||
Transportation — 0.4% | ||||||||
Ohio Turnpike & Infrastructure Commission, RB, Series A, 5.00%, 02/15/46 | 1,000 | 1,072,754 | ||||||
|
| |||||||
Utilities — 0.9% | ||||||||
Ohio Water Development Authority Water Pollution Control Loan Fund, RB, Series A, 5.00%, 12/01/28 | 2,000 | 2,128,709 | ||||||
|
| |||||||
Total Municipal Bonds in Ohio | 4,312,221 | |||||||
|
| |||||||
Pennsylvania — 4.3% | ||||||||
Health — 0.8% | ||||||||
Geisinger Authority, Refunding RB, 5.00%, 04/01/50 | 1,000 | 1,033,794 | ||||||
Pennsylvania Higher Educational Facilities Authority, RB, 5.00%, 08/15/49 | 1,000 | 1,047,068 | ||||||
|
| |||||||
2,080,862 |
Security | Par (000) | Value | ||||||
Housing — 0.4% | ||||||||
Pennsylvania Housing Finance Agency, Refunding RB, S/F Housing, Series 142-A, Sustainability Bonds, 4.50%, 10/01/38 | $ | 1,000 | $ | 1,032,210 | ||||
|
| |||||||
State — 1.4% | ||||||||
Commonwealth of Pennsylvania, GO | 1,000 | 1,161,736 | ||||||
Series 1, 5.00%, 03/15/29 | 1,000 | 1,011,802 | ||||||
Commonwealth of Pennsylvania, Refunding GO, Series 1, 5.00%, 01/01/28 | 1,105 | 1,165,335 | ||||||
|
| |||||||
3,338,873 | ||||||||
Transportation — 1.7% | ||||||||
Delaware River Port Authority, ARB, Series A, 5.00%, 01/01/39 | 125 | 135,200 | ||||||
Delaware River Port Authority, Refunding RB, Series B, 5.00%, 01/01/26 | 250 | 257,925 | ||||||
Pennsylvania Economic Development Financing Authority, RB, 5.00%, 12/31/38 | 1,000 | 1,008,730 | ||||||
Pennsylvania Turnpike Commission, RB | ||||||||
Series A-1, 5.00%, 12/01/47 | 1,000 | 1,038,005 | ||||||
Series 1, Subordinate, 5.00%, 12/01/39 | 875 | 985,611 | ||||||
Series A, Subordinate, 4.00%, 12/01/46 | 425 | 414,571 | ||||||
Series A, Subordinate, 4.00%, 12/01/50 | 480 | 457,740 | ||||||
|
| |||||||
4,297,782 | ||||||||
|
| |||||||
Total Municipal Bonds in Pennsylvania | 10,749,727 | |||||||
South Carolina — 0.4% | ||||||||
Utilities — 0.4% | ||||||||
South Carolina Public Service Authority, Refunding RB | ||||||||
Series A, 4.00%, 12/01/40 | 750 | 742,291 | ||||||
Series B, 5.00%, 12/01/51 | 305 | 316,619 | ||||||
|
| |||||||
Total Municipal Bonds in South Carolina | 1,058,910 | |||||||
Tennessee — 0.4% | ||||||||
Transportation — 0.4% | ||||||||
Metropolitan Nashville Airport Authority, ARB, Series A, 5.00%, 07/01/45 | 900 | 909,028 | ||||||
|
| |||||||
Texas — 7.4% | ||||||||
County/City/Special District/School District — 0.8% | ||||||||
Board of Regents of the University of Texas System, RB, Series E, 5.00%, 08/15/27 | 400 | 427,667 | ||||||
County of Williamson Texas, GO, 4.00%, 02/15/26 | 1,000 | 1,016,820 | ||||||
Lewisville Independent School District, Refunding GO, Series B, 5.00%, 08/15/28 | 570 | 580,490 | ||||||
|
| |||||||
2,024,977 | ||||||||
Health — 0.4% | ||||||||
Tarrant County Cultural Education Facilities Finance Corp., Refunding RB, Series A, 5.00%, 11/15/45 | 1,000 | 1,017,494 | ||||||
|
| |||||||
Transportation — 4.3% | ||||||||
Central Texas Regional Mobility Authority, RB | ||||||||
Series C, 5.00%, 01/01/27 | 1,000 | 1,024,414 | ||||||
Series A, Senior Lien, 5.00%, 07/01/25(b) | 1,000 | 1,020,828 | ||||||
Central Texas Turnpike System, RB | ||||||||
Series A, (AMBAC), 0.00%, 08/15/30(a) | 270 | 215,495 | ||||||
Series C, 5.00%, 08/15/37 | 1,000 | 1,003,378 | ||||||
County of Harris Texas Toll Road Revenue, Refunding RB, Series A, Senior Lien, 5.00%, 08/15/31 | 1,000 | 1,082,729 | ||||||
Dallas Fort Worth International Airport, Refunding RB, Series A, 4.00%, 11/01/34 | 1,250 | 1,306,849 |
S C H E D U L E O F I N V E S T M E N T S | 5 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | iShares Municipal Bond Index Fund (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Transportation (continued) | ||||||||
Grand Parkway Transportation Corp., Refunding RB, 4.00%, 10/01/49 | $ | 500 | $ | 478,446 | ||||
North Texas Tollway Authority, Refunding RB | 1,000 | 1,055,657 | ||||||
Series A, 5.00%, 01/01/43 | 1,815 | 1,888,452 | ||||||
Series B, 5.00%, 01/01/34 | 1,000 | 1,010,207 | ||||||
Port Authority of Houston of Harris County Texas, ARB, 1st Lien, 5.00%, 10/01/48 | 455 | 495,050 | ||||||
|
| |||||||
10,581,505 | ||||||||
Utilities — 1.9% | ||||||||
City of Austin Texas Electric Utility Revenue, Refunding RB, Series A, 5.00%, 11/15/45 | 1,000 | 1,016,585 | ||||||
City of Garland Texas Electric Utility System Revenue, Refunding RB, 4.00%, 03/01/49 | 1,000 | 955,485 | ||||||
City of San Antonio Texas Electric & Gas Systems Revenue, Refunding RB, Series A, 5.00%, 02/01/26 | 500 | 516,512 | ||||||
Texas Water Development Board, RB | ||||||||
Series A, 4.00%, 10/15/37 | 1,180 | 1,200,230 | ||||||
Series B, 5.00%, 04/15/49 | 1,000 | 1,048,862 | ||||||
|
| |||||||
4,737,674 | ||||||||
|
| |||||||
Total Municipal Bonds in Texas | 18,361,650 | |||||||
Utah — 0.5% | ||||||||
State — 0.5% | ||||||||
State of Utah, GO, Series B, 5.00%, 07/01/25 | 1,290 | 1,318,459 | ||||||
|
| |||||||
Virginia — 1.9% | ||||||||
County/City/Special District/School District — 0.7% | ||||||||
City of Alexandria Virginia, GO, Series A, (SAW), 3.00%, 07/15/46 | 1,000 | 807,381 | ||||||
County of Fairfax Virginia, Refunding GO, Series A, (SAW), 4.00%, 10/01/27 | 1,000 | 1,020,073 | ||||||
|
| |||||||
1,827,454 | ||||||||
Health — 0.4% | ||||||||
Fairfax County Industrial Development Authority, Refunding RB, 4.00%, 05/15/42 | 1,000 | 996,952 | ||||||
|
| |||||||
Transportation — 0.6% | ||||||||
Virginia Commonwealth Transportation Board, Refunding RB | 285 | 302,359 | ||||||
Series A, 5.00%, 05/15/31 | 1,000 | 1,074,674 | ||||||
|
| |||||||
1,377,033 | ||||||||
Utilities — 0.2% | ||||||||
City of Richmond Virginia Public Utility Revenue, Refunding RB, 5.00%, 01/15/26 | 500 | 516,551 | ||||||
|
| |||||||
Total Municipal Bonds in Virginia | 4,717,990 | |||||||
|
| |||||||
Washington — 2.6% | ||||||||
Health — 0.9% | ||||||||
Washington Health Care Facilities Authority, Refunding RB, 5.00%, 10/01/38 | 2,000 | 2,192,410 | ||||||
|
|
Security | Par (000) | Value | ||||||
State — 0.9% | ||||||||
State of Washington, Refunding GO | $ | 1,000 | $ | 1,030,364 | ||||
Series R, 5.00%, 08/01/35 | 1,000 | 1,192,007 | ||||||
|
| |||||||
2,222,371 | ||||||||
Transportation — 0.8% | ||||||||
Central Puget Sound Regional Transit Authority, RB, Series S-1, Sustainability Bonds, 5.00%, 11/01/46 | 1,000 | 1,173,686 | ||||||
Port of Seattle Washington, Refunding ARB, AMT, Intermediate Lien, 4.00%, 08/01/47 | 1,000 | 928,002 | ||||||
|
| |||||||
2,101,688 | ||||||||
|
| |||||||
Total Municipal Bonds in Washington | 6,516,469 | |||||||
Wisconsin — 1.2% | ||||||||
Health — 0.4% | ||||||||
Wisconsin Health & Educational Facilities Authority, Refunding RB, Series A, 5.00%, 11/15/39 | 1,000 | 1,019,986 | ||||||
|
| |||||||
State — 0.8% | ||||||||
State of Wisconsin, Refunding GO | 770 | 818,418 | ||||||
Series 2, 5.00%, 11/01/26 | 980 | 1,029,289 | ||||||
|
| |||||||
1,847,707 | ||||||||
|
| |||||||
Total Municipal Bonds in Wisconsin |
| 2,867,693 | ||||||
|
| |||||||
Total Long-Term Investments — 98.0% |
| 244,480,416 | ||||||
|
| |||||||
Shares | ||||||||
Short-Term Securities | ||||||||
Money Market Funds — 1.4% | ||||||||
BlackRock Liquidity Funds, MuniCash, Institutional Class, 3.48%(e)(f) | 3,542,438 | 3,542,793 | ||||||
|
| |||||||
Total Short-Term Securities — 1.4% | ||||||||
(Cost: $3,542,707) | 3,542,793 | |||||||
|
| |||||||
Total Investments — 99.4% | ||||||||
(Cost: $252,511,172) | 248,023,209 | |||||||
Other Assets Less Liabilities — 0.6% | 1,608,988 | |||||||
|
| |||||||
Net Assets — 100.0% | $ | 249,632,197 | ||||||
|
|
(a) | Zero-coupon bond. |
(b) | U.S. Government securities held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par. |
(c) | Security is collateralized by municipal bonds or U.S. Treasury obligations. |
(d) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(e) | Affiliate of the Fund. |
(f) | Annualized 7-day yield as of period end. |
6 |
|
Schedule of Investments (unaudited) (continued) March 31, 2024 | iShares Municipal Bond Index Fund |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended March 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 12/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, MuniCash, Institutional Class | $ | 3,355,327 | $ | 187,465 | (a) | $ | — | $ | 71 | $ | (70) | $ | 3,542,793 | 3,542,438 | $ | 16,549 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 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 | ||||||||||||||||
Municipal Bonds | $ | — | $ | 244,480,416 | $ | — | $ | 244,480,416 | ||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 3,542,793 | — | — | 3,542,793 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 3,542,793 | $ | 244,480,416 | $ | — | $ | 248,023,209 | |||||||||
|
|
|
|
|
|
|
|
Portfolio Abbreviation
AGC |
| Assured Guaranty Corp. | ||
AGM | Assured Guaranty Municipal Corp. | |||
AMBAC | AMBAC Assurance Corp. | |||
AMT | Alternative Minimum Tax | |||
ARB | Airport Revenue Bonds | |||
CAB | Capital Appreciation Bonds | |||
COP | Certificates of Participation | |||
FHLMC |
| Federal Home Loan Mortgage Corp. |
Portfolio Abbreviation (continued)
FNMA | Federal National Mortgage Association | |||
GNMA | Government National Mortgage Association | |||
GO | General Obligation Bonds | |||
RB | Revenue Bond | |||
S/F | Single-Family | |||
SAN |
| State Aid Notes | ||
SAP | Subject to Appropriations | |||
SAW | State Aid Withholding |
S C H E D U L E O F I N V E S T M E N T S | 7 |
Schedule of Investments (unaudited) (continued) March 31, 2024 | iShares Municipal Bond Index Fund |
Portfolio Abbreviation (continued)
ST |
| Special Tax |
8 |
|