UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number: 811-05742
Name of Fund: | BlackRock FundsSM |
iShares Russell Mid-Cap Index Fund |
iShares Russell Small/Mid-Cap Index Fund |
iShares Total U.S. Stock Market Index Fund |
Fund Address: | 100 Bellevue Parkway, Wilmington, DE 19809 |
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock FundsSM,
55 East 52nd Street, New York, NY 10055
Registrant’s telephone number, including area code: (800) 441-7762
Date of fiscal year end: 07/31/2021
Date of reporting period: 07/31/2021
Item 1 – Report to Stockholders
(a) The Report to Shareholders is attached herewith.
JULY 31, 2021 |
2021 Annual Report
|
BlackRock FundsSM
· | iShares Russell Mid-Cap Index Fund |
· | iShares Russell Small/Mid-Cap Index Fund |
· | iShares Total U.S. Stock Market Index Fund |
Not FDIC Insured • May Lose Value • No Bank Guarantee |
Dear Shareholder,
The 12-month reporting period as of July 31, 2021 was a remarkable period of adaptation and recovery, as the global economy dealt with the implications of the coronavirus (or “COVID-19”) pandemic. The United States, along with most of the world, began the reporting period emerging from a severe recession, prompted by pandemic-related restrictions that disrupted many aspects of daily life. However, easing restrictions and robust government intervention led to a strong rebound, and the economy grew at a significant pace for the reporting period, eventually regaining the output lost from the pandemic.
Equity prices rose with the broader economy, as strong fiscal and monetary support, as well as the development of vaccines, made investors increasingly optimistic about the economic outlook. The implementation of mass vaccination campaigns and passage of two additional fiscal stimulus packages further boosted stocks, and many equity indices neared or surpassed all-time highs late in the reporting period. In the United States, returns of small-capitalization stocks, which benefited the most from the resumption of in-person activities, outpaced large-capitalization stocks. International equities also gained, as both developed and emerging markets rebounded substantially.
The 10-year U.S. Treasury yield (which is inversely related to bond prices) had fallen sharply prior to the beginning of the reporting period, which meant bonds were priced for extreme risk avoidance and economic disruption. Despite expectations of doom and gloom, the economy expanded rapidly, stoking inflation concerns in early 2021, which led to higher yields and a negative overall return for most U.S. Treasuries. In the corporate bond market, support from the U.S. Federal Reserve (the “Fed”) assuaged credit concerns and led to solid returns for high-yield corporate bonds, although investment-grade corporates declined slightly.
The Fed remained committed to accommodative monetary policy by maintaining near zero interest rates and by reiterating that inflation could exceed its 2% target for a sustained period without triggering a rate increase. In response to rising inflation late in the period, the Fed changed its market guidance, raising the likelihood of less bond purchasing and the possibility of higher rates in 2023.
Looking ahead, we believe that the global expansion will continue to broaden as Europe and other developed market economies gain momentum, although the Delta variant remains a threat, particularly in emerging markets. While we expect inflation to remain elevated in the medium-term as the expansion continues, we believe the recent uptick owes more to temporary supply disruptions than a lasting change in fundamentals. The change in Fed policy also means that moderate inflation is less likely to be followed by interest rate hikes that could threaten the economic expansion.
Overall, we favor a moderately positive stance toward risk, with an overweight in equities. Sectors that are better poised to manage the transition to a lower-carbon world, such as technology and healthcare, are particularly attractive in the long-term. U.S. small-capitalization stocks and European equities are likely to benefit from the continuing vaccine-led restart. We are underweight long-term credit, but inflation-protected U.S. Treasuries, Asian fixed income, and Chinese government bonds offer potential opportunities. We believe that international diversification and a focus on sustainability can help provide portfolio resilience, and the disruption created by the coronavirus appears to be accelerating the shift toward sustainable investments.
In this environment, our view is that investors need to think globally, extend their scope across a broad array of asset classes, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit blackrock.com for further insight about investing in today’s markets.
Sincerely,
Rob Kapito
President, BlackRock Advisors, LLC
Rob Kapito
President, BlackRock Advisors, LLC
Total Returns as of July 31, 2021 | ||||||||
6-Month | 12-Month | |||||||
U.S. large cap equities (S&P 500® Index) | 19.19 | % | 36.45 | % | ||||
U.S. small cap equities (Russell 2000® Index) | 7.86 | 51.97 | ||||||
International equities (MSCI Europe, Australasia, Far East Index) | 10.83 | 30.31 | ||||||
Emerging market equities (MSCI Emerging Markets Index) | (2.76 | ) | 20.64 | |||||
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index) | 0.02 | 0.08 | ||||||
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) | (0.59 | ) | (5.12 | ) | ||||
U.S. investment grade bonds (Bloomberg Barclays U.S. Aggregate Bond Index) | 0.21 | (0.70 | ) | |||||
Tax-exempt municipal bonds (S&P Municipal Bond Index) | 1.38 | 3.47 | ||||||
U.S. high yield bonds (Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Index) | 3.66 | 10.62 |
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.
2 | T H I S P A G E I S N O T P A R T O F Y O U R F U N D R E P O R T |
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Disclosure of Investment Advisory Agreements and Sub-Advisory Agreements | 105 | |||
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3 |
Fund Summary as of July 31, 2021 | iShares Russell Mid-Cap Index Fund |
Investment Objective
iShares Russell Mid-Cap Index Fund’s (the “Fund”) investment objective is to seek to track the investment results of an index composed of mid-capitalization U.S. equities.
Portfolio Management Commentary
How did the Fund perform?
For the 12-month period ended July 31, 2021, the Fund’s Institutional Shares returned 42.43%, Investor A Shares returned 42.05%, and Class K Shares returned 42.50%. The benchmark Russell Midcap® Index (the “Index”) returned 42.58% for the same period.
Returns for the Fund’s respective share classes differ from the Index based on individual share-class expenses.
Describe the market environment.
During August 2020, U.S. stocks continued their recovery and maintained recording all-time highs until early September when valuation concerns created market volatility and led to a market sell off. COVID-19 continued to be center stage over the third quarter of 2020 but the ease of some restrictions, coupled with a drop in the number of new cases in the United States and the Fed’s accommodative policies, supported the U.S. market recovery over the third quarter despite the spikes in volatility and the market sell off that dampened the recovery momentum.
U.S. markets reacted positively to the U.S. presidential election results following a poor start to the fourth quarter of 2020. The victory of Joe Biden came as an indicator of more stable internal and external policies. The fear of rising COVID-19 cases in the United States was offset by positive vaccine news and an announcement of a $900 billion stimulus in late December, which supported the market’s positive performance. Sectors that were severely impacted by the coronavirus pandemic, such as energy and financials, recovered following the positive vaccine news in November, prompting these two sectors to recoup some of the losses incurred earlier in 2020.
Following the strong end to 2020, favorable market conditions continued with signs of a sooner-than-expected economic activity restart. Monetary conditions remained supportive, as the Fed signaled a continuing environment of low interest rates. With both the Senate and Congress passing a new $1.9 trillion stimulus package, and the United States starting to lead in the COVID-19 vaccine rollout, optimism continued to rise for strong economic growth in the first quarter of 2021. Despite the heightened volatility at the beginning of the quarter related to retail trading activity, the positive news about the stimulus package and the potential infrastructure bill soothed the market and supported returns over the quarter.
During the second quarter of 2021, the U.S. equity market rallied as the COVID-19 vaccination campaign continued to accelerate, and as more signs emerged for a sooner-than-expected economic activity restart. The U.S. Consumer Price Index (a measure of the average change over time in the prices paid by consumers for a market basket of consumer goods and services) increased by more than 4% (over the one-year period as of April 2021), which raised questions on whether this surge was sparked by temporary factors at play. However, inflation concerns and the Fed’s cautious optimism about the recovery muted the market rally in May 2021. In June 2021, the U.S. equity market extended its rally, supported by the prospect of more fiscal stimulus, as President Joe Biden reached a bipartisan $1 trillion agreement for infrastructure spending. The domestic markets continued climbing in June, as Fed commentary eased investors’ worries about the potential for tightening monetary policy too quickly. Furthermore, U.S. economic data over the second quarter of 2021 were generally very strong.
Describe recent portfolio activity.
During the period, as changes were made to the composition of the Index, the Fund purchased and sold securities to maintain its objective of replicating the risks and return of the Index.
Describe portfolio positioning at period end.
The Fund remains positioned to match the risk characteristics of the Index, irrespective of the market’s future direction.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
4 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Fund Summary as of July 31, 2021 (continued) | iShares Russell Mid-Cap Index Fund |
TOTAL RETURN BASED ON A $10,000 INVESTMENT
The Fund commenced operations on May 13, 2015.
(a) | Assuming transaction costs and other operating expenses, including investment advisory fees, if any. |
(b) | The Fund generally invests at least 90% of its assets, plus the amount of any borrowing for investment purposes, in securities of the Russell Midcap® Index. |
(c) | An index that measures the performance of approximately 800 smallest companies in the Russell 1000® Index, which represent approximately 31% of the total market capitalization of the Russell 1000® Index. |
Performance Summary for the Period Ended July 31, 2021
Average Annual Total Returns(a) | ||||||||||||
|
| |||||||||||
1 Year | 5 Years | | Since Inception | (b) | ||||||||
Institutional | 42.43 | % | 14.68 | % | 12.34 | % | ||||||
Investor A | 42.05 | 14.41 | 12.07 | |||||||||
Class K | 42.50 | 14.73 | 12.41 | |||||||||
| ||||||||||||
Russell Midcap® Index | 42.58 | 14.77 | 12.38 |
(a) | See “About Fund Performance” for a detailed description of share classes, including any related fees, and how performance was calculated for certain share classes. |
(b) | The Fund commenced operations on May 13, 2015. |
Past performance is not an indication of future results.
Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.
Expense Example
Actual | Hypothetical(a) | |||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
| Beginning Account Value (02/01/21) | | | Ending Account Value (07/31/21) | | | Expenses Paid During the Period | (b) | | Beginning Account Value (02/01/21) | | | Ending Account Value (07/31/21) | | | Expenses Paid During the Period | (b) | | Annualized Expense Ratio | | ||||||||||||
Institutional | $ | 1,000.00 | $ | 1,173.90 | $ | 0.43 | $ | 1,000.00 | $ | 1,024.40 | $ | 0.40 | 0.08 | % | ||||||||||||||||||
Investor A | 1,000.00 | 1,172.40 | 1.94 | 1,000.00 | 1,023.01 | 1.81 | 0.36 | |||||||||||||||||||||||||
Class K | 1,000.00 | 1,173.80 | 0.32 | 1,000.00 | 1,024.50 | 0.30 | 0.06 |
(a) | Hypothetical 5% annual return before expenses is calculated by prorating the number of days in the most recent fiscal half year divided by 365. |
(b) | For each class of the Fund, expenses are equal to the annualized expense ratio for the class, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the six-month period shown). |
See “Disclosure of Expenses” for further information on how expenses were calculated.
F U N D S U M M A R Y | 5 |
Fund Summary as of July 31, 2021 (continued) | iShares Russell Mid-Cap Index Fund |
Portfolio Information
SECTOR ALLOCATION |
| |||
Sector(a) | Percent of Net Assets | |||
Information Technology | 19 | % | ||
Industrials | 15 | |||
Consumer Discretionary | 13 | |||
Health Care | 12 | |||
Financials | 12 | |||
Real Estate | 8 | |||
Materials | 5 | |||
Communication Services | 5 | |||
Utilities | 4 | |||
Energy | 3 | |||
Consumer Staples | 3 | |||
Investment Companies | 1 | |||
Short-Term Securities | 2 | |||
Liabilities in Excess of Other Assets | (2 | ) |
(a) | For Fund compliance purposes, the Fund’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease. |
6 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Fund Summary as of July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund |
Investment Objective
iShares Russell Small/Mid-Cap Index Fund’s (the “Fund”) investment objective is to seek to track the performance of the small to mid-cap segment of the U.S. equity universe.
Portfolio Management Commentary
How did the Fund perform?
For the 12-month period ended July 31, 2021, the Fund’s Institutional Shares returned 48.81%, Investor A Shares returned 48.49%, and Class K Shares returned 48.88%. The benchmark Russell 2500TM Index (the “Index”) returned 49.09% for the same period.
Returns for the Fund’s respective share classes differ from the Index based on individual share-class expenses.
Describe the market environment.
During August 2020, U.S. stocks continued their recovery and maintained recording all-time highs until early September when valuation concerns created market volatility and led to a market sell off. COVID-19 continued to be center stage over the third quarter of 2020 but the ease of some restrictions, coupled with a drop in the number of new cases in the United States and the Fed’s accommodative policies, supported the U.S. market recovery over the third quarter despite the spikes in volatility and the market sell off that dampened the recovery momentum.
U.S. markets reacted positively to the U.S. presidential election results following a poor start to the fourth quarter of 2020. The victory of Joe Biden came as an indicator of more stable internal and external policies. The fear of rising COVID-19 cases in the United States was offset by positive vaccine news and an announcement of a $900 billion stimulus in late December, which supported the market’s positive performance. Sectors that were severely impacted by the coronavirus pandemic, such as energy and financials, recovered following the positive vaccine news in November, prompting these two sectors to recoup some of the losses incurred earlier in 2020.
Following the strong end to 2020, favorable market conditions continued with signs of a sooner-than-expected economic activity restart. Monetary conditions remained supportive, as the Fed signaled a continuing environment of low interest rates. With both the Senate and Congress passing a new $1.9 trillion stimulus package, and the United States starting to lead in the COVID-19 vaccine rollout, optimism continued to rise for strong economic growth in the first quarter of 2021. Despite the heightened volatility at the beginning of the quarter related to retail trading activity, the positive news about the stimulus package and the potential infrastructure bill soothed the market and supported returns over the quarter.
During the second quarter of 2021, the U.S. equity market rallied as the COVID-19 vaccination campaign continued to accelerate, and as more signs emerged for a sooner-than-expected economic activity restart. The U.S. Consumer Price Index (a measure of the average change over time in the prices paid by consumers for a market basket of consumer goods and services) increased by more than 4% (over the one-year period as of April 2021), which raised questions on whether this surge was sparked by temporary factors at play. However, inflation concerns and the Fed’s cautious optimism about the recovery muted the market rally in May 2021. In June 2021, the U.S. equity market extended its rally, supported by the prospect of more fiscal stimulus, as President Joe Biden reached a bipartisan $1 trillion agreement for infrastructure spending. The domestic markets continued climbing in June, as Fed commentary eased investors’ worries about the potential for tightening monetary policy too quickly. Furthermore, U.S. economic data over the second quarter of 2021 were generally very strong.
Describe recent portfolio activity.
During the period, as changes were made to the composition of the Index, the Fund purchased and sold securities to maintain its objective of replicating the risks and return of the Index.
Describe portfolio positioning at period end.
The Fund remains positioned to match the risk characteristics of the Index, irrespective of the market’s future direction.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
F U N D S U M M A R Y | 7 |
Fund Summary as of July 31, 2021 (continued) | iShares Russell Small/Mid-Cap Index Fund |
TOTAL RETURN BASED ON A $10,000 INVESTMENT
The Fund commenced operations on August 13, 2015.
(a) | Assuming transaction costs and other operating expenses, including investment advisory fees, if any. |
(b) | The Fund generally invests at least 90% of its assets, plus the amount of any borrowing for investment purposes, in securities of the Russell 2500™ Index. |
(c) | An index that measures the performance of the small to mid-cap segment of the U.S. equity universe, commonly referred to as “smid” cap. The Russell 2500TM Index is a subset of the Russell 3000® Index. |
Performance Summary for the Period Ended July 31, 2021
Average Annual Total Returns(a) | ||||||||||||
|
| |||||||||||
1 Year | 5 Years | | Since Inception | (b) | ||||||||
Institutional | 48.81 | % | 14.69 | % | 12.81 | % | ||||||
Investor A | 48.49 | 14.43 | 12.56 | |||||||||
Class K | 48.88 | 14.74 | 12.86 | |||||||||
| ||||||||||||
Russell 2500™ Index | 49.09 | 14.76 | 12.82 |
(a) | See “About Fund Performance” for a detailed description of share classes, including any related fees. |
(b) | The Fund commenced operations on August 13, 2015. |
Past performance is not an indication of future results.
Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.
Expense Example
Actual | Hypothetical(a) | |||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
| Beginning Account Value (02/01/21) | | | Ending Account Value (07/31/21) | | | Expenses Paid During the Period | (b) | | Beginning Account Value (02/01/21) | | | Ending Account Value (07/31/21) | | | Expenses Paid During the Period | (b) | | Annualized Expense Ratio | | ||||||||||||
Institutional | $ | 1,000.00 | $ | 1,120.20 | $ | 0.63 | $ | 1,000.00 | $ | 1,024.20 | $ | 0.60 | 0.12 | % | ||||||||||||||||||
Investor A | 1,000.00 | 1,119.20 | 1.79 | 1,000.00 | 1,023.11 | 1.71 | 0.34 | |||||||||||||||||||||||||
Class K | 1,000.00 | 1,120.40 | 0.37 | 1,000.00 | 1,024.45 | 0.35 | 0.07 |
(a) | Hypothetical 5% annual return before expenses is calculated by prorating the number of days in the most recent fiscal half year divided by 365. |
(b) | For each class of the Fund, expenses are equal to the annualized expense ratio for the class, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the six-month period shown). |
See “Disclosure of Expenses” for further information on how expenses were calculated.
8 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Fund Summary as of July 31, 2021 (continued) | iShares Russell Small/Mid-Cap Index Fund |
Portfolio Information
SECTOR ALLOCATION |
| |||
Sector(a) | Percent of Net Assets | |||
Information Technology | 16 | % | ||
Industrials | 16 | |||
Health Care | 15 | |||
Financials | 14 | |||
Consumer Discretionary | 13 | |||
Real Estate | 8 | |||
Materials | 5 | |||
Energy | 3 | |||
Consumer Staples | 3 | |||
Communication Services | 3 | |||
Utilities | 2 | |||
Investment Companies | 1 | |||
Short-Term Securities | 12 | |||
Liabilities in Excess of Other Assets | (11 | ) |
(a) | For Fund compliance purposes, the Fund’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease. |
F U N D S U M M A R Y | 9 |
Fund Summary as of July 31, 2021 | iShares Total U.S. Stock Market Index Fund |
Investment Objective
iShares Total U.S. Stock Market Index Fund’s (the “Fund”) investment objective is to seek to track the investment results of a broad-based index composed of U.S. equities.
Portfolio Management Commentary
How did the Fund perform?
For the 12-month period ended July 31, 2021, the Fund’s Institutional Shares returned 38.73%, Investor A Shares returned 38.42%, and Class K Shares returned 38.79%. The benchmark Russell 3000® Index (the “Index”) returned 38.73% for the same period.
Returns for the Fund’s respective share classes differ from the Index based on individual share-class expenses.
Describe the market environment.
During August 2020, U.S. stocks continued their recovery and maintained recording all-time highs until early September when valuation concerns created market volatility and led to a market sell off. COVID-19 continued to be center stage over the third quarter of 2020 but the ease of some restrictions, coupled with a drop in the number of new cases in the United States and the Fed’s accommodative policies, supported the U.S. market recovery over the third quarter despite the spikes in volatility and the market sell off that dampened the recovery momentum.
U.S. markets reacted positively to the U.S. presidential election results following a poor start to the fourth quarter of 2020. The victory of Joe Biden came as an indicator of more stable internal and external policies. The fear of rising COVID-19 cases in the United States was offset by positive vaccine news and an announcement of a $900 billion stimulus in late December, which supported the market’s positive performance. Sectors that were severely impacted by the coronavirus pandemic, such as energy and financials, recovered following the positive vaccine news in November, prompting these two sectors to recoup some of the losses incurred earlier in 2020.
Following the strong end to 2020, favorable market conditions continued with signs of a sooner-than-expected economic activity restart. Monetary conditions remained supportive, as the Fed signaled a continuing environment of low interest rates. With both the Senate and Congress passing a new $1.9 trillion stimulus package, and the United States starting to lead in the COVID-19 vaccine rollout, optimism continued to rise for strong economic growth in the first quarter of 2021. Despite the heightened volatility at the beginning of the quarter related to retail trading activity, the positive news about the stimulus package and the potential infrastructure bill soothed the market and supported returns over the quarter.
During the second quarter of 2021, the U.S. equity market rallied as the COVID-19 vaccination campaign continued to accelerate, and as more signs emerged for a sooner-than-expected economic activity restart. The U.S. Consumer Price Index (a measure of the average change over time in the prices paid by consumers for a market basket of consumer goods and services) increased by more than 4% (over the one-year period as of April 2021), which raised questions on whether this surge was sparked by temporary factors at play. However, inflation concerns and the Fed’s cautious optimism about the recovery muted the market rally in May 2021. In June 2021, the U.S. equity market extended its rally, supported by the prospect of more fiscal stimulus, as President Joe Biden reached a bipartisan $1 trillion agreement for infrastructure spending. The domestic markets continued climbing in June, as Fed commentary eased investors’ worries about the potential for tightening monetary policy too quickly. Furthermore, U.S. economic data over the second quarter of 2021 were generally very strong.
Describe recent portfolio activity.
During the period, as changes were made to the composition of the Index, the Fund purchased and sold securities to maintain its objective of replicating the risks and return of the Index.
Describe portfolio positioning at period end.
The Fund remains positioned to match the risk characteristics of the Index, irrespective of the market’s future direction.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
10 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Fund Summary as of July 31, 2021 (continued) | iShares Total U.S. Stock Market Index Fund |
TOTAL RETURN BASED ON A $10,000 INVESTMENT
The Fund commenced operations on August 13, 2015.
(a) | Assuming transaction costs and other operating expenses, including investment advisory fees, if any. |
(b) | The Fund generally invests at least 90% of its assets, plus the amount of any borrowing for investment purposes, in securities of the Russell 3000® Index. |
(c) | An index that measures the performance of the 3,000 largest U.S. companies representing 98% of the investable U.S. equity market. |
Performance Summary for the Period Ended July 31, 2021
Average Annual Total Returns(a) | ||||||||||||
1 Year | 5 Years | | Since Inception | (b) | ||||||||
Institutional | 38.73 | % | 17.27 | % | 15.35% | |||||||
Investor A | 38.42 | 16.98 | 15.08 | |||||||||
Class K | 38.79 | 17.32 | 15.40 | |||||||||
| ||||||||||||
Russell 3000® Index | 38.73 | 17.36 | 15.40 |
(a) | See “About Fund Performance” for a detailed description of share classes, including any related fees. |
(b) | The Fund commenced operations on August 13, 2015. |
Past performance is not an indication of future results.
Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.
Expense Example
Actual | Hypothetical(a) | |||||||||||||||||||||||||||||||
|
|
|
| |||||||||||||||||||||||||||||
| Beginning Account Value (02/01/21) | | | Ending Account Value (07/31/21) | | | Expenses Paid During the Period | (b) | | Beginning Account Value (02/01/21) | | | Ending Account Value (07/31/21) | | | Expenses Paid During the Period | (b) | | Annualized Expense Ratio | | ||||||||||||
Institutional | $ | 1,000.00 | $ | 1,175.80 | $ | 0.43 | $ | 1,000.00 | $ | 1,024.40 | $ | 0.40 | 0.08 | % | ||||||||||||||||||
Investor A | 1,000.00 | 1,174.20 | 1.62 | 1,000.00 | 1,023.31 | 1.51 | 0.30 | |||||||||||||||||||||||||
Class K | 1,000.00 | 1,176.00 | 0.16 | 1,000.00 | 1,024.65 | 0.15 | 0.03 |
(a) | Hypothetical 5% annual return before expenses is calculated by prorating the number of days in the most recent fiscal half year divided by 365. |
(b) | For each class of the Fund, expenses are equal to the annualized expense ratio for the class, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the six-month period shown). |
See “Disclosure of Expenses” for further information on how expenses were calculated.
F U N D S U M M A R Y | 11 |
Fund Summary as of July 31, 2021 (continued) | iShares Total U.S. Stock Market Index Fund |
Portfolio Information
TEN LARGEST HOLDINGS |
| |||
Security | Percent of Net Assets | |||
Apple, Inc. | 5 | % | ||
Microsoft Corp. | 5 | |||
Amazon.com, Inc. | 3 | |||
Facebook, Inc., Class A | 2 | |||
Alphabet, Inc., Class A | 2 | |||
Alphabet, Inc., Class C | 2 | |||
Tesla, Inc. | 1 | |||
Berkshire Hathaway, Inc., Class B | 1 | |||
NVIDIA Corp. | 1 | |||
JPMorgan Chase & Co. | 1 |
SECTOR ALLOCATION |
| |||
Sector(a) | Percent of Net Assets | |||
Information Technology | 27 | % | ||
Health Care | 14 | |||
Consumer Discretionary | 12 | |||
Financials | 11 | |||
Communication Services | 10 | |||
Industrials | 9 | |||
Consumer Staples | 5 | |||
Real Estate | 3 | |||
Energy | 3 | |||
Materials | 2 | |||
Utilities | 2 | |||
Investment Companies | 1 | |||
Short-Term Securities | 2 | |||
Liabilities in Excess of Other Assets | (1 | ) |
(a) | For Fund compliance purposes, the Fund’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease. |
12 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Institutional and Class K Shares are not subject to any sales charge. These shares bear no ongoing distribution or service fees and are available only to certain eligible investors.
Investor A Shares are not subject to any sales charge and bear no ongoing distribution fee. These shares are subject to an ongoing service fee of 0.25% per year. These shares are generally available through financial intermediaries. Investor A Shares of iShares Russell Mid-Cap Index Fund performance shown prior to the Investor A Shares inception date of November 30, 2015 is that of Institutional Shares (which have no distribution or service fees) and was restated to reflect Investor A Shares fees.
Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time, and may continue to affect adversely the value and liquidity of the fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Refer to blackrock.com to obtain performance data current to the most recent month-end. Performance results do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Figures shown in the performance tables assume reinvestment of all distributions, if any, at net asset value (“NAV”) on the ex-dividend date or payable date, as applicable. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Distributions paid to each class of shares will vary because of the different levels of service, distribution and transfer agency fees applicable to each class, which are deducted from the income available to be paid to shareholders.
BlackRock Advisors, LLC (the “Manager”), each Fund’s investment adviser, has contractually and/or voluntarily agreed to waive and/or reimburse a portion of each Fund’s expenses. Without such waiver(s) and/or reimbursement(s), each Fund’s performance would have been lower. With respect to each Fund’s voluntary waiver(s), if any, the Manager is under no obligation to waive and/or reimburse or to continue waiving and/or reimbursing its fees and such voluntary waiver(s) may be reduced or discontinued at any time. With respect to each Fund’s contractual waiver(s), if any, the Manager is under no obligation to continue waiving and/or reimbursing its fees after the applicable termination date of such agreement. See the Notes to Financial Statements for additional information on waivers and/or reimbursements.
Shareholders of each Fund may incur the following charges: (a) transactional expenses; and (b) operating expenses, including investment advisory fees, service and distribution fees, including 12b-1 fees, acquired fund fees and expenses, and other fund expenses. The expense examples shown (which are based on a hypothetical investment of $1,000 invested on February 1, 2021 and held through July 31, 2021) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other mutual funds.
The expense examples provide information about actual account values and actual expenses. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number corresponding to their Fund and share class under the heading entitled “Expenses Paid During the Period.”
The expense examples also provide information about hypothetical account values and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in these Funds and other funds, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in shareholder reports of other funds.
The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect transactional expenses, such as sales charges, if any. Therefore, the hypothetical examples are useful in comparing ongoing expenses only, and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.
Derivative Financial Instruments
The Funds may invest in various derivative financial instruments. These instruments are used to obtain exposure to a security, commodity, index, market, and/or other assets without owning or taking physical custody of securities, commodities and/or other referenced assets or to manage market, equity, credit, interest rate, foreign currency exchange rate, commodity and/or other risks. Derivative financial instruments may give rise to a form of economic leverage and involve risks, including the imperfect correlation between the value of a derivative financial instrument and the underlying asset, possible default of the counterparty to the transaction or illiquidity of the instrument. The Funds’ successful use of a derivative financial instrument depends on the investment adviser’s ability to predict pertinent market movements accurately, which cannot be assured. The use of these instruments may result in losses greater than if they had not been used, may limit the amount of appreciation a Fund can realize on an investment and/or may result in lower distributions paid to shareholders. The Funds’ investments in these instruments, if any, are discussed in detail in the Notes to Financial Statements.
A B O U T F U N D P E R F O R M A N C E / D I S C L O S U R E O F E X P E N S E S / D E R I V A T I V E F I N A N C I A L I N S T R U M E N T S | 13 |
July 31, 2021 | iShares Russell Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Aerospace & Defense — 1.3% | ||||||||
Axon Enterprise, Inc.(a) | 9,714 | $ | 1,806,998 | |||||
BWX Technologies, Inc. | 14,270 | 819,526 | ||||||
Curtiss-Wright Corp. | 6,029 | 713,231 | ||||||
HEICO Corp. | 6,722 | 909,151 | ||||||
HEICO Corp., Class A | 12,112 | 1,469,064 | ||||||
Hexcel Corp.(a) | 12,810 | 697,120 | ||||||
Howmet Aerospace, Inc.(a) | 59,580 | 1,955,416 | ||||||
Huntington Ingalls Industries, Inc. | 6,079 | 1,246,985 | ||||||
Mercury Systems, Inc.(a) | 8,280 | 546,480 | ||||||
Spirit AeroSystems Holdings, Inc., Class A | 15,691 | 678,008 | ||||||
Teledyne Technologies, Inc.(a) | 7,019 | 3,177,993 | ||||||
Textron, Inc. | 34,069 | 2,351,102 | ||||||
TransDigm Group, Inc.(a) | 7,861 | 5,039,608 | ||||||
Virgin Galactic Holdings Inc.(a)(b) | 22,894 | 686,591 | ||||||
|
| |||||||
22,097,273 | ||||||||
Air Freight & Logistics — 0.4% | ||||||||
C.H. Robinson Worldwide, Inc. | 20,091 | 1,791,515 | ||||||
Expeditors International of Washington, Inc. | 25,700 | 3,296,025 | ||||||
XPO Logistics, Inc.(a) | 14,815 | 2,054,692 | ||||||
|
| |||||||
7,142,232 | ||||||||
Airlines(a) — 0.9% | ||||||||
Alaska Air Group, Inc. | 18,918 | 1,097,812 | ||||||
American Airlines Group, Inc. | 97,939 | 1,995,997 | ||||||
Copa Holdings SA, Class A | 4,739 | 336,043 | ||||||
Delta Air Lines, Inc. | 97,196 | 3,878,120 | ||||||
JetBlue Airways Corp. | 47,112 | 696,786 | ||||||
Southwest Airlines Co. | 89,847 | 4,539,070 | ||||||
United Airlines Holdings, Inc. | 49,257 | 2,301,287 | ||||||
|
| |||||||
14,845,115 | ||||||||
Auto Components — 0.7% | ||||||||
Aptiv PLC(a) | 41,045 | 6,848,358 | ||||||
BorgWarner, Inc. | 36,541 | 1,789,778 | ||||||
Gentex Corp. | 37,010 | 1,259,450 | ||||||
Lear Corp. | 9,030 | 1,580,070 | ||||||
QuantumScape Corp.(a)(b) | 17,209 | 394,258 | ||||||
|
| |||||||
11,871,914 | ||||||||
Automobiles — 0.1% | ||||||||
Harley-Davidson, Inc. | 23,238 | 920,689 | ||||||
Thor Industries, Inc. | 7,997 | 946,525 | ||||||
|
| |||||||
1,867,214 | ||||||||
Banks — 2.9% | ||||||||
Bank of Hawaii Corp. | 5,933 | 496,651 | ||||||
Bank OZK | 18,508 | 753,461 | ||||||
BOK Financial Corp. | 4,776 | 401,232 | ||||||
Citizens Financial Group, Inc. | 64,024 | 2,699,252 | ||||||
Comerica, Inc. | 21,402 | 1,469,461 | ||||||
Commerce Bancshares, Inc. | 15,895 | 1,124,253 | ||||||
Cullen/Frost Bankers, Inc. | 8,900 | 955,148 | ||||||
East West Bancorp, Inc. | 21,581 | 1,535,488 | ||||||
Fifth Third Bancorp | 106,718 | 3,872,796 | ||||||
First Citizens BancShares, Inc., Class A | 950 | 743,461 | ||||||
First Hawaiian, Inc. | 19,434 | 535,018 | ||||||
First Horizon Corp. | 84,282 | 1,302,157 | ||||||
First Republic Bank | 26,667 | 5,200,598 | ||||||
FNB Corp. | 49,951 | 572,438 | ||||||
Huntington Bancshares, Inc. | 223,868 | 3,152,061 | ||||||
KeyCorp | 148,198 | 2,913,573 | ||||||
M&T Bank Corp. | 19,509 | 2,611,280 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
PacWest Bancorp | 17,739 | $ | 706,367 | |||||
People’s United Financial, Inc. | 63,663 | 999,509 | ||||||
Pinnacle Financial Partners, Inc. | 11,119 | 996,374 | ||||||
Popular, Inc. | 12,438 | 904,989 | ||||||
Prosperity Bancshares, Inc. | 13,437 | 916,269 | ||||||
Regions Financial Corp. | 146,207 | 2,814,485 | ||||||
Signature Bank | 8,570 | 1,945,133 | ||||||
Sterling Bancorp | 29,158 | 633,020 | ||||||
SVB Financial Group(a) | 8,504 | 4,676,860 | ||||||
Synovus Financial Corp. | 21,994 | 899,555 | ||||||
Umpqua Holdings Corp. | 33,306 | 628,484 | ||||||
Webster Financial Corp. | 13,473 | 648,051 | ||||||
Western Alliance Bancorp | 15,204 | 1,411,235 | ||||||
Wintrust Financial Corp. | 8,473 | 604,972 | ||||||
Zions Bancorp NA | 24,884 | 1,297,701 | ||||||
|
| |||||||
50,421,332 | ||||||||
Beverages — 0.3% | ||||||||
Boston Beer Co., Inc., Class A(a)(b) | 1,424 | 1,011,040 | ||||||
Brown-Forman Corp., Class A | 6,869 | 459,467 | ||||||
Brown-Forman Corp., Class B | 27,668 | 1,962,215 | ||||||
Molson Coors Beverage Co., Class B(a) | 26,873 | 1,313,821 | ||||||
|
| |||||||
4,746,543 | ||||||||
Biotechnology(a) — 1.7% | ||||||||
Acceleron Pharma, Inc. | 8,140 | 1,017,988 | ||||||
Alnylam Pharmaceuticals, Inc. | 17,890 | 3,201,237 | ||||||
BioMarin Pharmaceutical, Inc. | 27,736 | 2,128,183 | ||||||
CureVac NV(b) | 7,861 | 387,233 | ||||||
Exact Sciences Corp. | 26,068 | 2,811,173 | ||||||
Exelixis, Inc. | 45,807 | 771,848 | ||||||
Horizon Therapeutics PLC | 33,194 | 3,320,064 | ||||||
Incyte Corp. | 27,931 | 2,160,463 | ||||||
Ionis Pharmaceuticals, Inc. | 20,952 | 778,157 | ||||||
Iovance Biotherapeutics, Inc. | 22,605 | 503,413 | ||||||
Mirati Therapeutics, Inc. | 6,125 | 980,368 | ||||||
Natera, Inc. | 12,014 | 1,375,843 | ||||||
Neurocrine Biosciences, Inc. | 14,357 | 1,338,216 | ||||||
Novavax, Inc.(b) | 11,167 | 2,002,578 | ||||||
Sage Therapeutics, Inc. | 7,702 | 336,808 | ||||||
Sarepta Therapeutics, Inc. | 11,326 | 767,676 | ||||||
Seagen, Inc. | 20,420 | 3,132,224 | ||||||
Ultragenyx Pharmaceutical, Inc. | 10,142 | 809,636 | ||||||
United Therapeutics Corp. | 6,793 | 1,235,851 | ||||||
|
| |||||||
29,058,959 | ||||||||
Building Products — 1.9% | ||||||||
A O Smith Corp. | 19,965 | 1,404,138 | ||||||
Advanced Drainage Systems, Inc. | 8,748 | 1,068,043 | ||||||
Allegion plc | 13,659 | 1,865,819 | ||||||
Armstrong World Industries, Inc. | 7,281 | 787,659 | ||||||
AZEK Co., Inc.(a) | 16,218 | 589,849 | ||||||
Builders FirstSource, Inc.(a) | 31,459 | 1,399,926 | ||||||
Carlisle Cos., Inc. | 7,859 | 1,589,404 | ||||||
Carrier Global Corp. | 132,263 | 7,307,531 | ||||||
Fortune Brands Home & Security, Inc. | 21,008 | 2,047,650 | ||||||
Lennox International, Inc. | 5,201 | 1,713,365 | ||||||
Masco Corp. | 38,227 | 2,282,534 | ||||||
Owens Corning | 15,966 | 1,535,291 | ||||||
Trane Technologies PLC | 36,304 | 7,391,857 | ||||||
Trex Co., Inc.(a) | 17,635 | 1,712,359 | ||||||
|
| |||||||
32,695,425 | ||||||||
Capital Markets — 3.7% | ||||||||
Affiliated Managers Group, Inc. | 6,426 | 1,018,135 |
14 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Capital Markets (continued) | ||||||||
Ameriprise Financial, Inc. | 17,728 | $ | 4,566,024 | |||||
Apollo Global Management, Inc. | 27,237 | 1,603,170 | ||||||
Ares Management Corp., Class A | 21,146 | 1,514,265 | ||||||
Carlyle Group, Inc. | 25,092 | 1,266,393 | ||||||
Cboe Global Markets, Inc. | 16,172 | 1,915,897 | ||||||
Evercore, Inc., Class A | 6,319 | 835,372 | ||||||
FactSet Research Systems, Inc. | 5,732 | 2,047,929 | ||||||
Franklin Resources, Inc. | 44,563 | 1,316,837 | ||||||
Interactive Brokers Group, Inc., Class A | 11,881 | 734,959 | ||||||
Invesco Ltd. | 51,256 | 1,249,621 | ||||||
Janus Henderson Group PLC | 21,788 | 911,610 | ||||||
Jefferies Financial Group, Inc. | 33,222 | 1,102,638 | ||||||
KKR & Co., Inc. | 83,676 | 5,335,182 | ||||||
Lazard Ltd., Class A | 15,385 | 726,172 | ||||||
LPL Financial Holdings, Inc. | 12,151 | 1,713,777 | ||||||
MarketAxess Holdings, Inc. | 5,711 | 2,713,696 | ||||||
Morningstar, Inc. | 3,666 | 926,142 | ||||||
MSCI, Inc. | 12,197 | 7,268,924 | ||||||
Nasdaq, Inc. | 17,419 | 3,252,650 | ||||||
Northern Trust Corp. | 31,283 | 3,530,286 | ||||||
Raymond James Financial, Inc. | 18,719 | 2,423,736 | ||||||
SEI Investments Co. | 17,019 | 1,034,755 | ||||||
State Street Corp. | 52,861 | 4,606,307 | ||||||
Stifel Financial Corp. | 15,097 | 1,004,554 | ||||||
T. Rowe Price Group, Inc. | 34,268 | 6,996,155 | ||||||
Tradeweb Markets, Inc., Class A | 16,107 | 1,396,960 | ||||||
Virtu Financial, Inc., Class A | 13,809 | 355,444 | ||||||
|
| |||||||
63,367,590 | ||||||||
Chemicals — 2.6% | ||||||||
Albemarle Corp. | 17,731 | 3,653,295 | ||||||
Ashland Global Holdings, Inc. | 8,300 | 706,081 | ||||||
Axalta Coating Systems Ltd.(a) | 31,790 | 956,879 | ||||||
Celanese Corp. | 17,132 | 2,668,652 | ||||||
CF Industries Holdings, Inc. | 32,718 | 1,545,926 | ||||||
Chemours Co. | 24,746 | 822,805 | ||||||
Corteva, Inc. | 112,267 | 4,802,782 | ||||||
Diversey Holdings Ltd.(a) | 7,589 | 126,585 | ||||||
Eastman Chemical Co. | 20,647 | 2,327,330 | ||||||
Element Solutions, Inc. | 34,491 | 806,744 | ||||||
FMC Corp. | 19,592 | 2,095,364 | ||||||
Huntsman Corp. | 32,509 | 858,563 | ||||||
International Flavors & Fragrances, Inc. | 37,882 | 5,706,544 | ||||||
LyondellBasell Industries NV, Class A | 39,978 | 3,971,015 | ||||||
Mosaic Co. | 52,217 | 1,630,737 | ||||||
NewMarket Corp. | 1,062 | 335,496 | ||||||
Olin Corp. | 21,460 | 1,009,264 | ||||||
PPG Industries, Inc. | 36,005 | 5,887,538 | ||||||
RPM International, Inc. | 19,477 | 1,686,513 | ||||||
Scotts Miracle-Gro Co. | 6,377 | 1,128,474 | ||||||
Valvoline, Inc. | 27,415 | 841,092 | ||||||
Westlake Chemical Corp. | 5,077 | 420,985 | ||||||
WR Grace & Co. | 8,447 | 587,911 | ||||||
|
| |||||||
44,576,575 | ||||||||
Commercial Services & Supplies — 1.1% | ||||||||
ADT, Inc. | 22,643 | 237,525 | ||||||
Cintas Corp. | 13,556 | 5,343,504 | ||||||
Clean Harbors, Inc.(a) | 7,748 | 736,060 | ||||||
Copart, Inc.(a)(b) | 31,793 | 4,673,571 | ||||||
Driven Brands Holdings, Inc.(a) | 5,528 | 175,901 | ||||||
IAA, Inc.(a) | 20,213 | 1,222,482 | ||||||
MSA Safety, Inc. | 5,446 | 895,758 |
Security | Shares | Value | ||||||
Commercial Services & Supplies (continued) | ||||||||
Republic Services, Inc. | 31,956 | $ | 3,782,312 | |||||
Rollins, Inc. | 34,657 | 1,328,403 | ||||||
Stericycle, Inc.(a) | 14,258 | 1,005,902 | ||||||
|
| |||||||
19,401,418 | ||||||||
Communications Equipment — 0.9% | ||||||||
Arista Networks, Inc.(a) | 9,157 | 3,483,231 | ||||||
Ciena Corp.(a) | 23,941 | 1,391,930 | ||||||
CommScope Holding Co., Inc.(a) | 29,405 | 622,210 | ||||||
F5 Networks, Inc.(a) | 9,078 | 1,874,698 | ||||||
Juniper Networks, Inc. | 49,541 | 1,394,084 | ||||||
Lumentum Holdings, Inc.(a) | 11,404 | 957,822 | ||||||
Motorola Solutions, Inc. | 25,276 | 5,659,802 | ||||||
Ubiquiti, Inc. | 971 | 304,020 | ||||||
ViaSat, Inc.(a) | 9,787 | 485,826 | ||||||
|
| |||||||
16,173,623 | ||||||||
Construction & Engineering — 0.3% | ||||||||
AECOM(a) | 21,227 | 1,336,452 | ||||||
MasTec, Inc.(a) | 8,307 | 840,918 | ||||||
Quanta Services, Inc. | 21,044 | 1,912,899 | ||||||
Valmont Industries, Inc. | 3,153 | 747,103 | ||||||
|
| |||||||
4,837,372 | ||||||||
Construction Materials — 0.5% | ||||||||
Eagle Materials, Inc. | 6,219 | 878,869 | ||||||
Martin Marietta Materials, Inc. | 9,477 | 3,442,994 | ||||||
Vulcan Materials Co. | 20,113 | 3,620,139 | ||||||
|
| |||||||
7,942,002 | ||||||||
Consumer Finance — 0.9% | ||||||||
Ally Financial, Inc. | 56,747 | 2,914,526 | ||||||
Credit Acceptance Corp.(a)(b) | 1,410 | 683,526 | ||||||
Discover Financial Services | 46,341 | 5,761,113 | ||||||
OneMain Holdings, Inc. | 13,216 | 806,176 | ||||||
Santander Consumer USA Holdings, Inc. | 8,919 | 365,947 | ||||||
SLM Corp. | 47,627 | 896,816 | ||||||
Synchrony Financial | 88,250 | 4,149,515 | ||||||
Upstart Holdings Inc(a) | 2,082 | 251,422 | ||||||
|
| |||||||
15,829,041 | ||||||||
Containers & Packaging — 1.4% | ||||||||
Amcor PLC | 232,126 | 2,683,377 | ||||||
AptarGroup, Inc. | 10,010 | 1,290,489 | ||||||
Ardagh Group SA | 2,789 | 65,123 | ||||||
Avery Dennison Corp. | 12,585 | 2,651,408 | ||||||
Ball Corp. | 48,889 | 3,954,142 | ||||||
Berry Global Group, Inc.(a) | 20,269 | 1,303,094 | ||||||
Crown Holdings, Inc. | 19,722 | 1,967,467 | ||||||
Graphic Packaging Holding Co. | 43,515 | 834,183 | ||||||
International Paper Co. | 59,573 | 3,440,936 | ||||||
Packaging Corp. of America | 14,257 | 2,017,365 | ||||||
Sealed Air Corp. | 23,398 | 1,327,836 | ||||||
Silgan Holdings, Inc. | 13,001 | 526,801 | ||||||
Sonoco Products Co. | 15,012 | 957,615 | ||||||
Westrock Co. | 39,584 | 1,947,929 | ||||||
|
| |||||||
24,967,765 | ||||||||
Distributors — 0.4% | ||||||||
Genuine Parts Co. | 21,667 | 2,749,975 | ||||||
LKQ Corp.(a) | 42,529 | 2,158,347 | ||||||
Pool Corp. | 5,863 | 2,801,459 | ||||||
|
| |||||||
7,709,781 | ||||||||
Diversified Consumer Services — 0.5% | ||||||||
Bright Horizons Family Solutions, Inc.(a) | 9,345 | 1,397,078 |
S C H E D U L E O F I N V E S T M E N T S | 15 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Diversified Consumer Services (continued) | ||||||||
Chegg, Inc.(a) | 21,333 | $ | 1,890,744 | |||||
frontdoor, Inc.(a) | 12,792 | 626,040 | ||||||
Grand Canyon Education, Inc.(a) | 7,137 | 659,245 | ||||||
H&R Block, Inc. | 27,824 | 683,079 | ||||||
Service Corp. International | 25,094 | 1,568,124 | ||||||
Terminix Global Holdings, Inc.(a) | 19,850 | 1,042,125 | ||||||
|
| |||||||
7,866,435 | ||||||||
Diversified Financial Services — 0.2% | ||||||||
Equitable Holdings, Inc. | 58,488 | 1,805,525 | ||||||
Voya Financial, Inc. | 18,606 | 1,198,226 | ||||||
|
| |||||||
3,003,751 | ||||||||
Diversified Telecommunication Services — 0.1% | ||||||||
Lumen Technologies, Inc. | 167,404 | 2,087,528 | ||||||
|
| |||||||
Electric Utilities — 2.0% | ||||||||
Alliant Energy Corp. | 38,047 | 2,226,891 | ||||||
Avangrid, Inc. | 8,438 | 439,957 | ||||||
Edison International | 56,913 | 3,101,759 | ||||||
Entergy Corp. | 30,480 | 3,137,002 | ||||||
Evergy, Inc. | 34,777 | 2,268,156 | ||||||
Eversource Energy | 52,209 | 4,504,070 | ||||||
FirstEnergy Corp. | 83,030 | 3,181,710 | ||||||
Hawaiian Electric Industries, Inc. | 16,144 | 699,681 | ||||||
IDACORP, Inc. | 7,694 | 811,332 | ||||||
NRG Energy, Inc. | 36,590 | 1,508,972 | ||||||
OGE Energy Corp. | 30,018 | 1,013,108 | ||||||
PG&E Corp.(a) | 229,677 | 2,018,861 | ||||||
Pinnacle West Capital Corp. | 17,286 | 1,444,245 | ||||||
PPL Corp. | 117,490 | 3,333,191 | ||||||
Xcel Energy, Inc. | 81,898 | 5,589,538 | ||||||
|
| |||||||
35,278,473 | ||||||||
Electrical Equipment — 1.5% | ||||||||
Acuity Brands, Inc. | 5,379 | 943,369 | ||||||
AMETEK, Inc. | 35,065 | 4,875,788 | ||||||
ChargePoint Holdings, Inc.(a) | 20,477 | 484,281 | ||||||
Generac Holdings, Inc.(a) | 9,326 | 3,910,952 | ||||||
Hubbell, Inc. | 8,271 | 1,658,005 | ||||||
nVent Electric PLC | 24,991 | 789,966 | ||||||
Plug Power, Inc.(a) | 76,102 | 2,076,063 | ||||||
Regal Beloit Corp. | 6,075 | 894,422 | ||||||
Rockwell Automation, Inc. | 17,655 | 5,427,500 | ||||||
Sensata Technologies Holding PLC(a) | 23,228 | 1,361,625 | ||||||
Shoals Technologies Group, Inc., Class A(a) | 15,257 | 443,826 | ||||||
Sunrun, Inc.(a)(b) | 30,465 | 1,613,731 | ||||||
Vertiv Holdings Co. | 43,455 | 1,218,478 | ||||||
|
| |||||||
25,698,006 | ||||||||
Electronic Equipment, Instruments & Components — 2.2% | ||||||||
Amphenol Corp., Class A | 88,822 | 6,438,707 | ||||||
Arrow Electronics, Inc.(a) | 11,314 | 1,341,501 | ||||||
Avnet, Inc. | 14,877 | 614,718 | ||||||
CDW Corp. | 21,283 | 3,902,238 | ||||||
Cognex Corp. | 25,996 | 2,350,298 | ||||||
Coherent, Inc.(a) | 3,684 | 906,043 | ||||||
Corning, Inc. | 115,738 | 4,844,793 | ||||||
IPG Photonics Corp.(a) | 5,577 | 1,216,678 | ||||||
Jabil, Inc. | 22,143 | 1,318,394 | ||||||
Keysight Technologies, Inc.(a) | 28,196 | 4,639,652 | ||||||
Littelfuse, Inc. | 3,584 | 953,308 | ||||||
National Instruments Corp. | 19,658 | 867,114 | ||||||
SYNNEX Corp. | 6,339 | 757,764 |
Security | Shares | Value | ||||||
Electronic Equipment, Instruments & Components (continued) | ||||||||
Trimble, Inc.(a)(b) | 38,229 | $ | 3,268,580 | |||||
Vontier Corp. | 26,571 | 859,572 | ||||||
Zebra Technologies Corp., Class A(a) | 8,096 | 4,472,878 | ||||||
|
| |||||||
38,752,238 | ||||||||
Energy Equipment & Services — 0.3% | ||||||||
Baker Hughes Co. | 112,096 | 2,380,919 | ||||||
Halliburton Co. | 135,841 | 2,809,192 | ||||||
NOV, Inc.(a) | 58,014 | 801,173 | ||||||
|
| |||||||
5,991,284 | ||||||||
Entertainment — 1.3% | ||||||||
Liberty Media Corp.-Liberty Formula One, Class A(a) | 3,867 | 160,326 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C(a) | 29,882 | 1,402,362 | ||||||
Live Nation Entertainment, Inc.(a) | 20,512 | 1,618,192 | ||||||
Madison Square Garden Sports Corp.(a) | 2,832 | 460,880 | ||||||
Playtika Holding Corp.(a) | 11,470 | 254,978 | ||||||
Roku, Inc.(a) | 17,526 | 7,506,561 | ||||||
Skillz, Inc.(a)(b) | 43,579 | 613,592 | ||||||
Spotify Technology SA(a) | 20,784 | 4,752,677 | ||||||
Take-Two Interactive Software, Inc.(a) | 17,461 | 3,028,087 | ||||||
World Wrestling Entertainment, Inc., Class A | 6,782 | 334,895 | ||||||
Zynga, Inc., Class A(a) | 152,705 | 1,542,321 | ||||||
|
| |||||||
21,674,871 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 7.1% | ||||||||
Alexandria Real Estate Equities, Inc. | 22,245 | 4,478,808 | ||||||
American Campus Communities, Inc. | 20,914 | 1,052,183 | ||||||
American Homes 4 Rent, Class A | 42,296 | 1,776,432 | ||||||
Americold Realty Trust | 38,310 | 1,488,343 | ||||||
Apartment Income REIT Corp. | 23,302 | 1,226,617 | ||||||
AvalonBay Communities, Inc. | 21,201 | 4,830,224 | ||||||
Boston Properties, Inc. | 23,740 | 2,786,601 | ||||||
Brixmor Property Group, Inc. | 44,465 | 1,023,584 | ||||||
Camden Property Trust | 14,366 | 2,146,137 | ||||||
CoreSite Realty Corp. | 6,370 | 880,398 | ||||||
Cousins Properties, Inc. | 21,934 | 871,218 | ||||||
CubeSmart | 30,122 | 1,495,859 | ||||||
CyrusOne, Inc. | 18,801 | 1,339,947 | ||||||
Douglas Emmett, Inc. | 25,523 | 852,468 | ||||||
Duke Realty Corp. | 56,920 | 2,896,090 | ||||||
EPR Properties | 11,336 | 570,201 | ||||||
Equity LifeStyle Properties, Inc. | 26,420 | 2,213,996 | ||||||
Equity Residential | 56,054 | 4,715,823 | ||||||
Essex Property Trust, Inc. | 9,884 | 3,242,940 | ||||||
Extra Space Storage, Inc. | 19,945 | 3,473,222 | ||||||
Federal Realty Investment Trust | 11,857 | 1,393,553 | ||||||
First Industrial Realty Trust, Inc. | 19,272 | 1,055,720 | ||||||
Gaming and Leisure Properties, Inc. | 33,699 | 1,595,311 | ||||||
Healthcare Trust of America, Inc., Class A | 33,230 | 950,046 | ||||||
Healthpeak Properties, Inc. | 81,979 | 3,030,764 | ||||||
Highwoods Properties, Inc. | 15,437 | 736,191 | ||||||
Host Hotels & Resorts, Inc.(a) | 106,658 | 1,699,062 | ||||||
Hudson Pacific Properties, Inc. | 22,892 | 624,036 | ||||||
Invitation Homes, Inc. | 86,422 | 3,515,647 | ||||||
Iron Mountain, Inc. | 43,561 | 1,906,229 | ||||||
JBG SMITH Properties | 18,580 | 606,265 | ||||||
Kilroy Realty Corp. | 17,550 | 1,215,688 | ||||||
Kimco Realty Corp. | 62,240 | 1,327,579 | ||||||
Lamar Advertising Co., Class A | 12,956 | 1,381,110 | ||||||
Life Storage, Inc. | 11,590 | 1,360,202 | ||||||
Medical Properties Trust, Inc. | 88,176 | 1,854,341 | ||||||
Mid-America Apartment Communities, Inc. | 17,393 | 3,358,588 |
16 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
National Retail Properties, Inc. | 26,042 | $ | 1,272,673 | |||||
Omega Healthcare Investors, Inc. | 35,675 | 1,294,289 | ||||||
Park Hotels & Resorts, Inc.(a) | 35,205 | 651,293 | ||||||
Rayonier, Inc. | 21,641 | 816,082 | ||||||
Realty Income Corp. | 56,835 | 3,994,932 | ||||||
Regency Centers Corp. | 25,775 | 1,685,943 | ||||||
Rexford Industrial Realty, Inc. | 20,577 | 1,265,897 | ||||||
SBA Communications Corp. | 16,475 | 5,617,810 | ||||||
Simon Property Group, Inc. | 49,611 | 6,276,784 | ||||||
SL Green Realty Corp. | 10,575 | 787,415 | ||||||
Spirit Realty Capital, Inc. | 17,182 | 862,880 | ||||||
STORE Capital Corp. | 37,493 | 1,356,872 | ||||||
Sun Communities, Inc. | 16,806 | 3,295,825 | ||||||
UDR, Inc. | 44,905 | 2,469,326 | ||||||
Ventas, Inc. | 57,069 | 3,411,585 | ||||||
VEREIT, Inc. | 35,019 | 1,714,880 | ||||||
VICI Properties, Inc. | 82,528 | 2,574,048 | ||||||
Vornado Realty Trust | 27,110 | 1,179,285 | ||||||
Weingarten Realty Investors | 18,537 | 596,706 | ||||||
Welltower, Inc. | 63,531 | 5,518,303 | ||||||
Weyerhaeuser Co. | 113,957 | 3,843,770 | ||||||
WP Carey, Inc. | 26,710 | 2,155,230 | ||||||
|
| |||||||
123,613,251 | ||||||||
Food & Staples Retailing — 0.4% | ||||||||
Albertsons Cos., Inc., Class A(b) | 23,345 | 504,252 | ||||||
Casey’s General Stores, Inc. | 5,572 | 1,101,640 | ||||||
Grocery Outlet Holding Corp.(a)(b) | 12,929 | 428,208 | ||||||
Kroger Co. | 113,731 | 4,628,852 | ||||||
US Foods Holding Corp.(a) | 33,071 | 1,135,658 | ||||||
|
| |||||||
7,798,610 | ||||||||
Food Products — 2.1% | ||||||||
Archer-Daniels-Midland Co. | 84,694 | 5,057,926 | ||||||
Beyond Meat, Inc.(a) | 8,876 | 1,089,085 | ||||||
Bunge Ltd. | 20,904 | 1,622,778 | ||||||
Campbell Soup Co. | 30,020 | 1,312,474 | ||||||
Conagra Brands, Inc. | 70,686 | 2,367,274 | ||||||
Darling Ingredients, Inc.(a) | 24,661 | 1,703,335 | ||||||
Flowers Foods, Inc. | 27,630 | 650,963 | ||||||
Freshpet, Inc.(a) | 6,361 | 931,568 | ||||||
Hain Celestial Group, Inc.(a) | 12,622 | 503,744 | ||||||
Hershey Co. | 22,254 | 3,980,796 | ||||||
Hormel Foods Corp. | 43,011 | 1,994,850 | ||||||
Ingredion, Inc. | 10,071 | 884,335 | ||||||
J.M. Smucker Co. | 16,134 | 2,115,329 | ||||||
Kellogg Co. | 37,995 | 2,407,363 | ||||||
Lamb Weston Holdings, Inc. | 22,282 | 1,487,769 | ||||||
McCormick & Co., Inc. | 38,058 | 3,203,342 | ||||||
Pilgrim’s Pride Corp.(a) | 7,712 | 170,821 | ||||||
Post Holdings, Inc.(a) | 9,079 | 929,145 | ||||||
Seaboard Corp. | 39 | 160,290 | ||||||
Tyson Foods, Inc., Class A | 43,866 | 3,134,664 | ||||||
|
| |||||||
35,707,851 | ||||||||
Gas Utilities — 0.2% | ||||||||
Atmos Energy Corp. | 19,545 | 1,926,941 | ||||||
National Fuel Gas Co. | 13,311 | 684,585 | ||||||
UGI Corp. | 31,326 | 1,440,683 | ||||||
|
| |||||||
4,052,209 | ||||||||
Health Care Equipment & Supplies — 3.7% | ||||||||
ABIOMED, Inc.(a) | 6,739 | 2,204,596 | ||||||
Cooper Cos., Inc. | 7,403 | 3,122,363 |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
DENTSPLY SIRONA, Inc. | 33,044 | $ | 2,182,226 | |||||
DexCom, Inc.(a) | 14,663 | 7,558,923 | ||||||
Envista Holdings Corp.(a) | 24,019 | 1,034,739 | ||||||
Globus Medical, Inc., Class A(a) | 12,005 | 998,456 | ||||||
Hill-Rom Holdings, Inc. | 10,034 | 1,389,308 | ||||||
Hologic, Inc.(a) | 38,568 | 2,894,143 | ||||||
ICU Medical, Inc.(a) | 2,967 | 603,161 | ||||||
IDEXX Laboratories, Inc.(a) | 12,871 | 8,733,360 | ||||||
Insulet Corp.(a) | 10,141 | 2,836,336 | ||||||
Integra LifeSciences Holdings Corp.(a) | 10,741 | 777,541 | ||||||
Masimo Corp.(a) | 7,561 | 2,059,541 | ||||||
Novocure Ltd.(a) | 15,563 | 2,396,858 | ||||||
Penumbra, Inc.(a) | 5,135 | 1,367,091 | ||||||
Quidel Corp.(a)(b) | 5,610 | 793,647 | ||||||
ResMed, Inc. | 21,883 | 5,947,799 | ||||||
STERIS PLC | 15,030 | 3,275,788 | ||||||
Tandem Diabetes Care, Inc.(a) | 9,071 | 985,746 | ||||||
Teleflex, Inc. | 7,108 | 2,824,932 | ||||||
West Pharmaceutical Services, Inc. | 11,177 | 4,601,906 | ||||||
Zimmer Biomet Holdings, Inc. | 31,751 | 5,188,748 | ||||||
|
| |||||||
63,777,208 | ||||||||
Health Care Providers & Services — 1.9% | ||||||||
Acadia Healthcare Co., Inc.(a) | 13,144 | 811,248 | ||||||
Agilon Health, Inc.(a)(b) | 7,418 | 272,908 | ||||||
Amedisys, Inc.(a)(b) | 4,941 | 1,287,723 | ||||||
AmerisourceBergen Corp. | 22,327 | 2,727,690 | ||||||
Cardinal Health, Inc. | 43,848 | 2,603,694 | ||||||
Chemed Corp. | 2,330 | 1,109,127 | ||||||
DaVita, Inc.(a) | 10,792 | 1,297,738 | ||||||
Encompass Health Corp. | 14,853 | 1,236,512 | ||||||
Guardant Health, Inc.(a) | 13,713 | 1,505,687 | ||||||
Henry Schein, Inc.(a) | 21,506 | 1,723,706 | ||||||
Laboratory Corp. of America Holdings(a) | 14,863 | 4,401,678 | ||||||
McKesson Corp. | 24,252 | 4,943,285 | ||||||
Molina Healthcare, Inc.(a) | 8,769 | 2,394,025 | ||||||
Oak Street Health, Inc.(a) | 16,172 | 1,019,483 | ||||||
Premier, Inc., Class A | 18,186 | 648,149 | ||||||
Quest Diagnostics, Inc. | 19,636 | 2,784,385 | ||||||
Signify Health, Inc., Class A(a) | 3,373 | 88,777 | ||||||
Universal Health Services, Inc., Class B | 11,452 | 1,837,015 | ||||||
|
| |||||||
32,692,830 | ||||||||
Health Care Technology — 0.9% | ||||||||
Cerner Corp. | 45,843 | 3,685,319 | ||||||
Certara, Inc.(a)(b) | 4,750 | 129,247 | ||||||
Change Healthcare, Inc.(a) | 37,125 | 805,984 | ||||||
Teladoc Health, Inc.(a)(b) | 22,322 | 3,313,701 | ||||||
Veeva Systems, Inc., Class A(a) | 20,835 | 6,932,013 | ||||||
|
| |||||||
14,866,264 | ||||||||
Hotels, Restaurants & Leisure — 3.5% | ||||||||
Aramark | 34,418 | 1,209,104 | ||||||
Boyd Gaming Corp.(a) | 12,147 | 692,379 | ||||||
Caesars Entertainment, Inc.(a) | 30,546 | 2,668,499 | ||||||
Carnival Corp.(a) | 130,233 | 2,819,544 | ||||||
Chipotle Mexican Grill, Inc.(a) | 4,268 | 7,953,162 | ||||||
Choice Hotels International, Inc. | 5,236 | 627,796 | ||||||
Churchill Downs, Inc. | 5,721 | 1,062,962 | ||||||
Darden Restaurants, Inc. | 19,776 | 2,884,923 | ||||||
Domino’s Pizza, Inc. | 5,883 | 3,091,458 | ||||||
DraftKings, Inc., Class A(a) | 45,837 | 2,223,095 | ||||||
Expedia Group, Inc.(a) | 21,468 | 3,453,557 | ||||||
Hilton Worldwide Holdings, Inc.(a) | 41,672 | 5,477,784 |
S C H E D U L E O F I N V E S T M E N T S | 17 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
Hyatt Hotels Corp., Class A(a) | 6,017 | $ | 480,578 | |||||
Marriott Vacations Worldwide Corp.(a) | 6,490 | 956,431 | ||||||
MGM Resorts International | 61,564 | 2,310,497 | ||||||
Norwegian Cruise Line Holdings Ltd.(a)(b) | 56,608 | 1,360,290 | ||||||
Penn National Gaming, Inc.(a) | 23,807 | 1,627,923 | ||||||
Planet Fitness, Inc., Class A(a) | 13,018 | 979,344 | ||||||
Royal Caribbean Cruises Ltd.(a) | 33,328 | 2,561,923 | ||||||
Six Flags Entertainment Corp.(a) | 11,490 | 477,410 | ||||||
Travel + Leisure Co. | 12,709 | 658,326 | ||||||
Vail Resorts, Inc.(a) | 6,070 | 1,852,564 | ||||||
Wendy’s Co. | 27,443 | 636,952 | ||||||
Wyndham Hotels & Resorts, Inc. | 13,777 | 992,771 | ||||||
Wynn Resorts Ltd.(a) | 16,109 | 1,583,998 | ||||||
Yum China Holdings, Inc. | 64,007 | 3,980,595 | ||||||
Yum! Brands, Inc. | 45,374 | 5,961,690 | ||||||
|
| |||||||
60,585,555 | ||||||||
Household Durables — 1.6% | ||||||||
D.R. Horton, Inc. | 50,585 | 4,827,327 | ||||||
Garmin Ltd. | 23,039 | 3,621,731 | ||||||
Leggett & Platt, Inc. | 19,675 | 944,990 | ||||||
Lennar Corp., B Shares | 2,355 | 203,354 | ||||||
Lennar Corp., Class A | 41,279 | 4,340,487 | ||||||
Mohawk Industries, Inc.(a) | 8,641 | 1,684,131 | ||||||
Newell Brands, Inc. | 58,163 | 1,439,534 | ||||||
NVR, Inc.(a) | 502 | 2,621,745 | ||||||
PulteGroup, Inc. | 39,833 | 2,185,637 | ||||||
Tempur Sealy International, Inc. | 28,213 | 1,220,777 | ||||||
Toll Brothers, Inc. | 16,890 | 1,001,070 | ||||||
TopBuild Corp.(a) | 5,144 | 1,042,637 | ||||||
Whirlpool Corp. | 9,318 | 2,064,310 | ||||||
|
| |||||||
27,197,730 | ||||||||
Household Products — 0.4% | ||||||||
Church & Dwight Co., Inc. | 37,505 | 3,247,183 | ||||||
Clorox Co. | 18,951 | 3,428,046 | ||||||
Reynolds Consumer Products Inc. | 7,291 | 207,429 | ||||||
Spectrum Brands Holdings, Inc. | 6,291 | 549,519 | ||||||
|
| |||||||
7,432,177 | ||||||||
Independent Power and Renewable Electricity Producers — 0.3% | ||||||||
AES Corp. | 100,442 | 2,380,475 | ||||||
Brookfield Renewable Corp., Class A | 18,899 | 802,074 | ||||||
Vistra Corp. | 73,379 | 1,405,208 | ||||||
|
| |||||||
4,587,757 | ||||||||
Insurance — 3.6% | ||||||||
Aflac, Inc. | 102,148 | 5,618,140 | ||||||
Alleghany Corp.(a) | 2,076 | 1,376,596 | ||||||
American Financial Group, Inc. | 10,435 | 1,319,923 | ||||||
Arch Capital Group Ltd.(a) | 59,096 | 2,304,744 | ||||||
Arthur J. Gallagher & Co. | 30,768 | 4,286,290 | ||||||
Assurant, Inc. | 9,183 | 1,449,169 | ||||||
Assured Guaranty Ltd. | 10,158 | 485,654 | ||||||
Athene Holding Ltd., Class A(a) | 17,883 | 1,155,599 | ||||||
Axis Capital Holdings Ltd. | 11,460 | 582,970 | ||||||
Brighthouse Financial, Inc.(a) | 13,282 | 571,923 | ||||||
Brown & Brown, Inc. | 35,580 | 1,935,552 | ||||||
Cincinnati Financial Corp. | 23,003 | 2,711,594 | ||||||
CNA Financial Corp. | 4,144 | 182,377 | ||||||
Erie Indemnity Co., Class A | 3,768 | 696,666 | ||||||
Everest Re Group Ltd. | 6,076 | 1,536,195 | ||||||
Fidelity National Financial, Inc. | 42,017 | 1,874,378 | ||||||
First American Financial Corp. | 15,476 | 1,041,690 |
Security | Shares | Value | ||||||
Insurance (continued) | ||||||||
Globe Life, Inc. | 15,558 | $ | 1,448,605 | |||||
GoHealth, Inc., Class A(a) | 5,606 | 49,333 | ||||||
Hanover Insurance Group, Inc. | 5,462 | 742,286 | ||||||
Hartford Financial Services Group, Inc. | 54,344 | 3,457,365 | ||||||
Kemper Corp. | 9,286 | 612,969 | ||||||
Lemonade, Inc.(a) | 5,654 | 492,237 | ||||||
Lincoln National Corp. | 28,882 | 1,779,709 | ||||||
Loews Corp. | 33,695 | 1,807,063 | ||||||
Markel Corp.(a) | 2,081 | 2,510,040 | ||||||
Mercury General Corp. | 4,206 | 255,851 | ||||||
Old Republic International Corp. | 42,689 | 1,052,711 | ||||||
Primerica, Inc. | 5,896 | 862,113 | ||||||
Principal Financial Group, Inc. | 40,503 | 2,516,451 | ||||||
Prudential Financial, Inc. | 59,989 | 6,015,697 | ||||||
Reinsurance Group of America, Inc. | 10,235 | 1,127,692 | ||||||
RenaissanceRe Holdings Ltd. | 7,603 | 1,160,902 | ||||||
Unum Group | 30,603 | 838,522 | ||||||
W.R. Berkley Corp. | 21,103 | 1,544,107 | ||||||
White Mountains Insurance Group Ltd. | 460 | 520,522 | ||||||
Willis Towers Watson PLC | 19,535 | 4,025,773 | ||||||
|
| |||||||
61,949,408 | ||||||||
Interactive Media & Services(a) — 1.5% | ||||||||
IAC/InterActiveCorp | 11,754 | 1,613,707 | ||||||
Match Group, Inc. | 41,035 | 6,535,644 | ||||||
Pinterest, Inc., Class A | 83,138 | 4,896,828 | ||||||
TripAdvisor, Inc. | 15,165 | 575,512 | ||||||
Twitter, Inc. | 118,647 | 8,275,628 | ||||||
Vimeo, Inc. | 18,490 | 828,352 | ||||||
Zillow Group, Inc., Class A | 8,821 | 944,994 | ||||||
Zillow Group, Inc., Class C | 25,111 | 2,668,295 | ||||||
|
| |||||||
26,338,960 | ||||||||
Internet & Direct Marketing Retail — 0.5% | ||||||||
DoorDash, Inc., Class A(a) | 12,752 | 2,222,546 | ||||||
Etsy, Inc.(a) | 19,259 | 3,534,219 | ||||||
Qurate Retail, Inc., Series A | 58,559 | 694,510 | ||||||
Wayfair, Inc., Class A(a)(b) | 11,483 | 2,771,537 | ||||||
|
| |||||||
9,222,812 | ||||||||
IT Services — 3.3% | ||||||||
Akamai Technologies, Inc.(a) | 24,615 | 2,951,831 | ||||||
Alliance Data Systems Corp. | 7,563 | 705,250 | ||||||
Amdocs Ltd. | 19,797 | 1,526,547 | ||||||
Broadridge Financial Solutions, Inc. | 17,680 | 3,067,303 | ||||||
Concentrix Corp.(a) | 6,545 | 1,071,613 | ||||||
DXC Technology Co.(a) | 38,172 | 1,526,116 | ||||||
EPAM Systems, Inc.(a) | 8,183 | 4,580,843 | ||||||
Euronet Worldwide, Inc.(a) | 7,566 | 1,080,576 | ||||||
Fastly, Inc., Class A(a)(b) | 15,645 | 752,055 | ||||||
FleetCor Technologies, Inc.(a) | 12,445 | 3,213,548 | ||||||
Gartner, Inc.(a) | 12,767 | 3,379,808 | ||||||
Genpact Ltd. | 28,139 | 1,401,604 | ||||||
Globant SA(a) | 6,017 | 1,439,026 | ||||||
GoDaddy, Inc., Class A(a) | 25,526 | 2,140,355 | ||||||
Jack Henry & Associates, Inc. | 11,200 | 1,949,808 | ||||||
MongoDB, Inc.(a) | 8,099 | 2,906,893 | ||||||
Okta, Inc.(a) | 18,889 | 4,680,505 | ||||||
Paychex, Inc. | 48,988 | 5,575,814 | ||||||
Paysafe Ltd.(a)(b) | 45,652 | 492,585 | ||||||
Sabre Corp.(a) | 47,785 | 563,385 | ||||||
Shift4 Payments, Inc., Class A(a) | 6,354 | 566,713 | ||||||
SolarWinds Corp.(a) | 10,330 | 116,109 | ||||||
StoneCo Ltd., Class A(a) | 33,493 | 1,970,728 |
18 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
Switch, Inc., Class A | 16,960 | $ | 350,394 | |||||
VeriSign, Inc.(a) | 15,007 | 3,247,065 | ||||||
Western Union Co. | 62,608 | 1,453,132 | ||||||
WEX, Inc.(a)(b) | 6,886 | 1,306,481 | ||||||
Wix.com Ltd.(a) | 8,047 | 2,403,156 | ||||||
|
| |||||||
56,419,243 | ||||||||
Leisure Products — 0.7% | ||||||||
Brunswick Corp. | 11,847 | 1,236,827 | ||||||
Hasbro, Inc. | 19,472 | 1,936,296 | ||||||
Hayward Holdings, Inc.(a) | 5,677 | 136,759 | ||||||
Mattel, Inc.(a) | 54,338 | 1,180,221 | ||||||
Peloton Interactive, Inc., Class A(a) | 40,152 | 4,739,944 | ||||||
Polaris, Inc. | 8,913 | 1,168,227 | ||||||
YETI Holdings, Inc.(a) | 13,198 | 1,271,363 | ||||||
|
| |||||||
11,669,637 | ||||||||
Life Sciences Tools & Services — 2.8% | ||||||||
10X Genomics, Inc., Class A(a) | 12,715 | 2,329,769 | ||||||
Adaptive Biotechnologies Corp.(a) | 16,104 | 590,373 | ||||||
Agilent Technologies, Inc. | 46,280 | 7,091,484 | ||||||
Avantor, Inc.(a) | 88,401 | 3,322,110 | ||||||
Bio-Rad Laboratories, Inc., Class A(a) | 3,226 | 2,385,659 | ||||||
Bio-Techne Corp. | 5,937 | 2,863,059 | ||||||
Bruker Corp. | 15,490 | 1,274,052 | ||||||
Charles River Laboratories International, Inc.(a) | 7,585 | 3,086,488 | ||||||
IQVIA Holdings, Inc.(a) | 29,010 | 7,185,777 | ||||||
Maravai LifeSciences Holdings, Inc., Class A(a) | 11,167 | 491,013 | ||||||
Mettler-Toledo International, Inc.(a) | 3,491 | 5,144,722 | ||||||
PerkinElmer, Inc. | 17,187 | 3,131,987 | ||||||
PPD, Inc.(a) | 24,804 | 1,143,960 | ||||||
QIAGEN NV(a) | 34,577 | 1,825,320 | ||||||
Repligen Corp.(a) | 8,344 | 2,050,121 | ||||||
Sotera Health Co.(a) | 11,854 | 280,940 | ||||||
Syneos Health, Inc.(a) | 15,655 | 1,403,784 | ||||||
Waters Corp.(a) | 9,306 | 3,627,572 | ||||||
|
| |||||||
49,228,190 | ||||||||
Machinery — 3.9% | ||||||||
AGCO Corp. | 9,297 | 1,228,227 | ||||||
Allison Transmission Holdings, Inc. | 16,851 | 672,523 | ||||||
Colfax Corp.(a) | 17,739 | 813,865 | ||||||
Crane Co. | 7,427 | 722,127 | ||||||
Cummins, Inc. | 22,222 | 5,157,726 | ||||||
Donaldson Co., Inc. | 19,119 | 1,265,487 | ||||||
Dover Corp. | 21,824 | 3,647,227 | ||||||
Flowserve Corp. | 19,468 | 819,408 | ||||||
Fortive Corp. | 49,738 | 3,613,963 | ||||||
Gates Industrial Corp. PLC(a) | 10,037 | 181,770 | ||||||
Graco, Inc. | 25,526 | 1,993,070 | ||||||
IDEX Corp. | 11,547 | 2,617,590 | ||||||
Ingersoll Rand, Inc.(a)(b) | 56,529 | 2,762,572 | ||||||
ITT, Inc. | 13,011 | 1,273,907 | ||||||
Lincoln Electric Holdings, Inc. | 8,581 | 1,196,449 | ||||||
Middleby Corp.(a) | 8,287 | 1,586,878 | ||||||
Nordson Corp. | 8,826 | 1,995,823 | ||||||
Oshkosh Corp. | 10,194 | 1,218,693 | ||||||
Otis Worldwide Corp. | 65,377 | 5,854,510 | ||||||
PACCAR, Inc. | 51,827 | 4,301,123 | ||||||
Parker-Hannifin Corp. | 19,567 | 6,105,491 | ||||||
Pentair PLC | 25,209 | 1,857,147 | ||||||
Snap-on, Inc. | 8,130 | 1,772,177 | ||||||
Stanley Black & Decker, Inc. | 24,548 | 4,837,183 |
Security | Shares | Value | ||||||
Machinery (continued) | ||||||||
Timken Co. | 9,461 | $ | 752,150 | |||||
Toro Co. | 16,359 | 1,860,673 | ||||||
Westinghouse Air Brake Technologies Corp. | 27,576 | 2,340,375 | ||||||
Woodward, Inc. | 8,907 | 1,082,735 | ||||||
Xylem, Inc. | 27,281 | 3,433,314 | ||||||
|
| |||||||
66,964,183 | ||||||||
Marine — 0.0% | ||||||||
Kirby Corp.(a) | 9,154 | 530,108 | ||||||
|
| |||||||
Media — 1.6% | ||||||||
Altice USA, Inc., Class A(a) | 33,133 | 1,018,177 | ||||||
Cable One, Inc. | 826 | 1,559,480 | ||||||
Discovery, Inc., Class A(a) | 25,161 | 729,921 | ||||||
Discovery, Inc., Class C(a) | 47,524 | 1,288,376 | ||||||
DISH Network Corp., Class A(a) | 37,278 | 1,561,575 | ||||||
Fox Corp., Class A | 49,115 | 1,751,441 | ||||||
Fox Corp., Class B | 22,407 | 744,809 | ||||||
Interpublic Group of Cos., Inc. | 59,600 | 2,107,456 | ||||||
Liberty Broadband Corp., Class A(a) | 3,769 | 647,024 | ||||||
Liberty Broadband Corp., Class C(a) | 23,073 | 4,095,227 | ||||||
Liberty Media Corp. - Liberty SiriusXM, Class A(a) | 12,489 | 583,111 | ||||||
Liberty Media Corp. - Liberty SiriusXM, Class C(a) | 25,101 | 1,159,666 | ||||||
New York Times Co., Class A | 24,508 | 1,072,960 | ||||||
News Corp., Class A | 59,759 | 1,471,864 | ||||||
News Corp., Class B | 18,510 | 435,170 | ||||||
Nexstar Media Group, Inc., Class A | 6,422 | 944,484 | ||||||
Omnicom Group, Inc. | 32,214 | 2,345,823 | ||||||
Sirius XM Holdings, Inc.(b) | 133,382 | 862,982 | ||||||
ViacomCBS, Inc., Class A | 1,521 | 67,730 | ||||||
ViacomCBS, Inc., Class B | 88,668 | 3,629,181 | ||||||
|
| |||||||
28,076,457 | ||||||||
Metals & Mining — 0.8% | ||||||||
Alcoa Corp.(a) | 28,993 | 1,164,069 | ||||||
Cleveland-Cliffs, Inc.(a)(b) | 69,819 | 1,745,475 | ||||||
Nucor Corp. | 45,442 | 4,726,877 | ||||||
Reliance Steel & Aluminum Co. | 9,559 | 1,502,197 | ||||||
Royal Gold, Inc. | 9,852 | 1,197,215 | ||||||
Steel Dynamics, Inc. | 30,549 | 1,968,883 | ||||||
United States Steel Corp. | 41,758 | 1,105,752 | ||||||
|
| |||||||
13,410,468 | ||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.3% | ||||||||
AGNC Investment Corp. | 80,694 | 1,280,614 | ||||||
Annaly Capital Management, Inc. | 212,818 | 1,806,825 | ||||||
New Residential Investment Corp. | 64,034 | 624,972 | ||||||
Starwood Property Trust, Inc. | 42,917 | 1,117,129 | ||||||
|
| |||||||
4,829,540 | ||||||||
Multi-line Retail — 0.4% | ||||||||
Dollar Tree, Inc.(a) | 35,256 | 3,518,196 | ||||||
Kohl’s Corp. | 24,179 | 1,228,293 | ||||||
Nordstrom, Inc.(a) | 16,504 | 546,282 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.(a)(b) | 9,654 | 898,788 | ||||||
|
| |||||||
6,191,559 | ||||||||
Multi-Utilities — 1.6% | ||||||||
Ameren Corp. | 38,841 | 3,259,537 | ||||||
CenterPoint Energy, Inc. | 88,367 | 2,249,824 | ||||||
CMS Energy Corp. | 43,958 | 2,716,165 | ||||||
Consolidated Edison, Inc. | 52,239 | 3,853,671 | ||||||
DTE Energy Co. | 29,398 | 3,448,973 | ||||||
MDU Resources Group, Inc. | 29,902 | 948,491 |
S C H E D U L E O F I N V E S T M E N T S | 19 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Multi-Utilities (continued) | ||||||||
NiSource, Inc. | 59,558 | $ | 1,475,252 | |||||
Public Service Enterprise Group, Inc. | 76,712 | 4,773,788 | ||||||
WEC Energy Group, Inc. | 48,001 | 4,518,814 | ||||||
|
| |||||||
27,244,515 | ||||||||
Oil, Gas & Consumable Fuels — 3.0% | ||||||||
Antero Midstream Corp. | 49,469 | 469,955 | ||||||
APA Corp. | 57,037 | 1,069,444 | ||||||
Cabot Oil & Gas Corp. | 58,994 | 943,904 | ||||||
Cheniere Energy, Inc.(a) | 35,814 | 3,041,683 | ||||||
Cimarex Energy Co. | 15,116 | 985,563 | ||||||
Continental Resources, Inc.(b) | 9,622 | 328,591 | ||||||
Devon Energy Corp. | 103,490 | 2,674,182 | ||||||
Diamondback Energy, Inc. | 27,467 | 2,118,530 | ||||||
DTE Midstream LLC(a) | 14,510 | 615,224 | ||||||
EQT Corp.(a) | 41,594 | 764,914 | ||||||
Hess Corp. | 42,321 | 3,235,017 | ||||||
HollyFrontier Corp. | 22,475 | 660,765 | ||||||
Marathon Oil Corp. | 120,359 | 1,394,961 | ||||||
Marathon Petroleum Corp. | 99,170 | 5,476,167 | ||||||
New Fortress Energy, Inc. | 3,920 | 118,815 | ||||||
Occidental Petroleum Corp. | 128,635 | 3,357,373 | ||||||
ONEOK, Inc. | 67,473 | 3,506,572 | ||||||
Phillips 66 | 66,606 | 4,890,879 | ||||||
Pioneer Natural Resources Co. | 32,830 | 4,772,497 | ||||||
Targa Resources Corp. | 34,529 | 1,454,016 | ||||||
Texas Pacific Land Corp. | 905 | 1,350,758 | ||||||
Valero Energy Corp. | 62,105 | 4,159,172 | ||||||
Williams Cos., Inc. | 184,914 | 4,632,096 | ||||||
|
| |||||||
52,021,078 | ||||||||
Paper & Forest Products — 0.0% | ||||||||
Louisiana-Pacific Corp. | 15,083 | 836,202 | ||||||
|
| |||||||
Personal Products(a) — 0.1% | ||||||||
Coty, Inc., Class A | 43,960 | 383,771 | ||||||
Herbalife Nutrition Ltd. | 15,890 | 809,436 | ||||||
|
| |||||||
1,193,207 | ||||||||
Pharmaceuticals — 0.8% | ||||||||
Catalent, Inc.(a) | 24,882 | 2,981,112 | ||||||
Elanco Animal Health, Inc.(a) | 67,684 | 2,468,436 | ||||||
Jazz Pharmaceuticals PLC(a) | 8,973 | 1,521,103 | ||||||
Nektar Therapeutics(a) | 25,951 | 409,766 | ||||||
Organon & Co.(a) | 39,175 | 1,136,467 | ||||||
Perrigo Co. PLC | 20,565 | 987,737 | ||||||
Royalty Pharma PLC, Class A | 49,449 | 1,888,952 | ||||||
Viatris, Inc. | 182,174 | 2,563,188 | ||||||
|
| |||||||
13,956,761 | ||||||||
Professional Services — 2.3% | ||||||||
Booz Allen Hamilton Holding Corp. | 20,651 | 1,772,062 | ||||||
CACI International, Inc., Class A(a) | 3,630 | 969,065 | ||||||
Clarivate PLC(a) | 62,989 | 1,436,149 | ||||||
CoStar Group, Inc.(a) | 59,575 | 5,293,239 | ||||||
Dun & Bradstreet Holdings, Inc.(a)(b) | 23,695 | 496,647 | ||||||
Equifax, Inc. | 18,426 | 4,801,816 | ||||||
FTI Consulting, Inc.(a) | 4,883 | 711,453 | ||||||
IHS Markit Ltd. | 56,786 | 6,634,876 | ||||||
Jacobs Engineering Group, Inc. | 19,855 | 2,685,389 | ||||||
Leidos Holdings, Inc. | 21,673 | 2,306,441 | ||||||
ManpowerGroup, Inc. | 8,037 | 953,027 | ||||||
Nielsen Holdings PLC | 53,709 | 1,272,366 | ||||||
Robert Half International, Inc. | 16,841 | 1,653,955 |
Security | Shares | Value | ||||||
Professional Services (continued) | ||||||||
Science Applications International Corp. | 8,732 | $ | 762,304 | |||||
TransUnion | 29,164 | 3,501,430 | ||||||
Verisk Analytics, Inc. | 24,141 | 4,585,341 | ||||||
|
| |||||||
39,835,560 | ||||||||
Real Estate Management & Development(a) — 0.5% | ||||||||
CBRE Group, Inc., Class A | 50,783 | 4,898,528 | ||||||
Howard Hughes Corp. | 6,362 | 589,821 | ||||||
Jones Lang LaSalle, Inc. | 7,815 | 1,739,385 | ||||||
Opendoor Technologies Inc. | 51,311 | 760,429 | ||||||
|
| |||||||
7,988,163 | ||||||||
Road & Rail — 0.9% | ||||||||
AMERCO | 1,342 | 789,042 | ||||||
JB Hunt Transport Services, Inc. | 12,783 | 2,153,296 | ||||||
Kansas City Southern | 13,784 | 3,691,355 | ||||||
Knight-Swift Transportation Holdings, Inc. | 24,843 | 1,234,449 | ||||||
Landstar System, Inc. | 5,725 | 898,825 | ||||||
Lyft, Inc., Class A(a) | 42,337 | 2,342,083 | ||||||
Old Dominion Freight Line, Inc. | 15,546 | 4,184,206 | ||||||
Ryder System, Inc. | 8,030 | 611,485 | ||||||
Schneider National, Inc., Class B | 8,900 | 199,716 | ||||||
TuSimple Holdings, Inc., Class A(a) | 5,304 | 195,187 | ||||||
|
| |||||||
16,299,644 | ||||||||
Semiconductors & Semiconductor Equipment — 3.1% | ||||||||
Allegro MicroSystems, Inc.(a) | 6,987 | 191,514 | ||||||
Brooks Automation, Inc. | 10,833 | 964,245 | ||||||
Cirrus Logic, Inc.(a) | 8,620 | 711,926 | ||||||
Cree, Inc.(a) | 17,699 | 1,641,759 | ||||||
Enphase Energy, Inc.(a) | 20,055 | 3,802,428 | ||||||
Entegris, Inc. | 20,470 | 2,469,501 | ||||||
First Solar, Inc.(a) | 16,290 | 1,401,592 | ||||||
Marvell Technology, Inc. | 122,806 | 7,430,991 | ||||||
Maxim Integrated Products, Inc. | 40,668 | 4,063,140 | ||||||
Microchip Technology, Inc. | 37,961 | 5,432,978 | ||||||
MKS Instruments, Inc. | 8,493 | 1,328,645 | ||||||
Monolithic Power Systems, Inc. | 6,816 | 3,062,156 | ||||||
ON Semiconductor Corp.(a)(b) | 64,890 | 2,534,604 | ||||||
Qorvo, Inc.(a) | 17,221 | 3,264,929 | ||||||
Skyworks Solutions, Inc. | 25,083 | 4,628,064 | ||||||
Teradyne, Inc. | 25,350 | 3,219,450 | ||||||
Universal Display Corp. | 6,466 | 1,516,212 | ||||||
Xilinx, Inc. | 37,408 | 5,605,215 | ||||||
|
| |||||||
53,269,349 | ||||||||
Software — 8.0% | ||||||||
Alteryx, Inc., Class A(a) | 8,749 | 677,173 | ||||||
Anaplan, Inc.(a) | 21,174 | 1,211,153 | ||||||
ANSYS, Inc.(a) | 13,246 | 4,880,621 | ||||||
Aspen Technology, Inc.(a) | 10,178 | 1,488,634 | ||||||
Avalara, Inc.(a)(b) | 12,970 | 2,168,195 | ||||||
Bentley Systems, Inc., Class B(b) | 20,780 | 1,263,632 | ||||||
Bill.Com Holdings, Inc.(a) | 11,430 | 2,363,953 | ||||||
Black Knight, Inc.(a) | 23,130 | 1,915,395 | ||||||
C3.AI, Inc., Class A(a) | 3,156 | 158,905 | ||||||
Cadence Design Systems, Inc.(a) | 41,799 | 6,171,622 | ||||||
CDK Global, Inc. | 18,696 | 897,221 | ||||||
Ceridian HCM Holding, Inc.(a) | 19,638 | 1,932,379 | ||||||
Citrix Systems, Inc. | 18,832 | 1,897,324 | ||||||
Cloudflare, Inc., Class A(a) | 38,221 | 4,534,157 | ||||||
Coupa Software, Inc.(a) | 11,126 | 2,414,342 | ||||||
Crowdstrike Holdings, Inc., Class A(a) | 24,401 | 6,188,338 | ||||||
Datadog, Inc., Class A(a) | 34,464 | 3,815,165 |
20 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Datto Holding Corp.(a) | 3,423 | $ | 89,306 | |||||
DocuSign, Inc.(a) | 29,011 | 8,646,438 | ||||||
Dolby Laboratories, Inc., Class A | 9,583 | 930,509 | ||||||
DoubleVerify Holdings, Inc.(a)(b) | 2,255 | 78,023 | ||||||
Dropbox, Inc., Class A(a) | 46,763 | 1,472,567 | ||||||
Duck Creek Technologies, Inc.(a) | 10,911 | 479,320 | ||||||
Dynatrace, Inc.(a) | 28,321 | 1,808,862 | ||||||
Elastic NV(a) | 10,281 | 1,522,205 | ||||||
Everbridge, Inc.(a) | 5,713 | 806,790 | ||||||
Fair Isaac Corp.(a) | 4,241 | 2,221,902 | ||||||
FireEye, Inc.(a) | 36,259 | 732,432 | ||||||
Five9, Inc.(a) | 10,154 | 2,043,899 | ||||||
Fortinet, Inc.(a) | 20,367 | 5,544,712 | ||||||
Guidewire Software, Inc.(a) | 12,616 | 1,453,363 | ||||||
HubSpot, Inc.(a) | 6,777 | 4,039,228 | ||||||
Jamf Holding Corp.(a)(b) | 7,827 | 256,804 | ||||||
Manhattan Associates, Inc.(a) | 9,515 | 1,518,879 | ||||||
McAfee Corp., Class A | 6,983 | 189,030 | ||||||
Medallia, Inc.(a) | 15,324 | 519,024 | ||||||
N-Able, Inc.(a) | 5,165 | 71,277 | ||||||
nCino Inc.(a)(b) | 6,933 | 440,731 | ||||||
New Relic, Inc.(a) | 7,958 | 549,739 | ||||||
NortonLifeLock, Inc. | 83,576 | 2,074,356 | ||||||
Nuance Communications, Inc.(a) | 43,325 | 2,378,542 | ||||||
Nutanix, Inc., Class A(a) | 29,790 | 1,073,036 | ||||||
Palantir Technologies, Inc., Class A(a) | 247,068 | 5,363,846 | ||||||
Palo Alto Networks, Inc.(a)(b) | 14,496 | 5,784,629 | ||||||
Paycom Software, Inc.(a) | 7,711 | 3,084,400 | ||||||
Paylocity Holding Corp.(a) | 5,740 | 1,190,820 | ||||||
Pegasystems, Inc. | 6,386 | 815,109 | ||||||
Proofpoint, Inc.(a) | 8,683 | 1,516,573 | ||||||
PTC, Inc.(a) | 15,916 | 2,155,822 | ||||||
RingCentral, Inc., Class A(a)(b) | 12,219 | 3,265,772 | ||||||
Smartsheet, Inc., Class A(a) | 18,468 | 1,339,853 | ||||||
Splunk, Inc.(a) | 24,935 | 3,540,271 | ||||||
SS&C Technologies Holdings, Inc. | 34,079 | 2,671,453 | ||||||
Synopsys, Inc.(a) | 23,077 | 6,645,945 | ||||||
Teradata Corp.(a) | 16,306 | 809,756 | ||||||
Trade Desk, Inc., Class A(a) | 65,158 | 5,337,092 | ||||||
Tyler Technologies, Inc.(a) | 6,156 | 3,032,692 | ||||||
Unity Software, Inc.(a)(b) | 22,375 | 2,396,810 | ||||||
Zendesk, Inc.(a) | 17,954 | 2,343,536 | ||||||
Zscaler, Inc.(a) | 11,855 | 2,796,713 | ||||||
|
| |||||||
139,010,275 | ||||||||
Specialty Retail — 3.1% | ||||||||
Advance Auto Parts, Inc. | 9,943 | 2,108,512 | ||||||
AutoNation, Inc.(a) | 7,947 | 964,209 | ||||||
AutoZone, Inc.(a) | 3,348 | 5,435,712 | ||||||
Bath & Body Works, Inc.(a) | 35,909 | 2,875,234 | ||||||
Best Buy Co., Inc. | 38,026 | 4,272,221 | ||||||
Burlington Stores, Inc.(a) | 10,091 | 3,378,467 | ||||||
CarMax, Inc.(a) | 24,846 | 3,328,122 | ||||||
Carvana Co.(a) | 11,726 | 3,958,228 | ||||||
Dick’s Sporting Goods, Inc. | 9,332 | 971,834 | ||||||
Five Below, Inc.(a) | 8,415 | 1,636,044 | ||||||
Floor & Decor Holdings, Inc., Class A(a) | 15,494 | 1,890,423 | ||||||
Foot Locker, Inc. | 13,283 | 757,928 | ||||||
GameStop Corp., Class A(a) | 8,756 | 1,410,767 | ||||||
Gap, Inc. | 31,527 | 919,643 |
Security | Shares | Value | ||||||
Specialty Retail (continued) | ||||||||
Leslie’s, Inc.(a) | 16,129 | $ | 392,741 | |||||
Lithia Motors, Inc. | 4,417 | 1,666,181 | ||||||
O’Reilly Automotive, Inc.(a) | 10,491 | 6,334,885 | ||||||
Penske Automotive Group, Inc. | 4,751 | 420,939 | ||||||
Petco Health & Wellness Co., Inc.(a) | 11,044 | 227,838 | ||||||
RH(a) | 2,610 | 1,733,249 | ||||||
Tractor Supply Co. | 17,547 | 3,174,779 | ||||||
Ulta Beauty, Inc.(a) | 8,247 | 2,769,343 | ||||||
Vroom, Inc.(a) | 17,035 | 630,976 | ||||||
Williams-Sonoma, Inc. | 11,410 | 1,730,897 | ||||||
|
| |||||||
52,989,172 | ||||||||
Technology Hardware, Storage & Peripherals — 0.9% | ||||||||
Hewlett Packard Enterprise Co. | 197,721 | 2,866,954 | ||||||
HP, Inc. | 189,725 | 5,477,361 | ||||||
NCR Corp.(a) | 19,485 | 865,134 | ||||||
NetApp, Inc. | 33,841 | 2,693,405 | ||||||
Pure Storage, Inc., Class A(a) | 39,220 | 765,574 | ||||||
Western Digital Corp.(a) | 47,007 | 3,052,165 | ||||||
Xerox Holdings Corp. | 22,661 | 546,810 | ||||||
|
| |||||||
16,267,403 | ||||||||
Textiles, Apparel & Luxury Goods — 1.3% | ||||||||
Capri Holdings Ltd.(a) | 22,349 | 1,258,472 | ||||||
Carter’s, Inc. | 6,498 | 635,114 | ||||||
Columbia Sportswear Co. | 5,908 | 588,555 | ||||||
Deckers Outdoor Corp.(a) | 4,255 | 1,748,167 | ||||||
Hanesbrands, Inc. | 52,138 | 952,040 | ||||||
Lululemon Athletica, Inc.(a)(b) | 17,347 | 6,941,749 | ||||||
PVH Corp.(a) | 11,066 | 1,157,725 | ||||||
Ralph Lauren Corp. | 7,450 | 845,724 | ||||||
Skechers USA, Inc., Class A(a) | 20,010 | 1,074,137 | ||||||
Tapestry, Inc.(a) | 42,571 | 1,800,753 | ||||||
Under Armour, Inc., Class A(a)(b) | 28,340 | 579,553 | ||||||
Under Armour, Inc., Class C(a) | 30,311 | 531,049 | ||||||
VF Corp. | 49,248 | 3,949,690 | ||||||
|
| |||||||
22,062,728 | ||||||||
Thrifts & Mortgage Finance — 0.1% | ||||||||
MGIC Investment Corp. | 50,654 | 701,051 | ||||||
New York Community Bancorp, Inc. | 68,820 | 810,700 | ||||||
Rocket Cos., Inc., Class A | 20,023 | 345,197 | ||||||
TFS Financial Corp. | 6,973 | 135,834 | ||||||
UWM Holdings Corp.(b) | 6,302 | 48,084 | ||||||
|
| |||||||
2,040,866 | ||||||||
Trading Companies & Distributors — 0.9% | ||||||||
Air Lease Corp. | 15,938 | 675,134 | ||||||
Fastenal Co. | 87,269 | 4,779,723 | ||||||
MSC Industrial Direct Co., Inc., Class A | 6,810 | 607,248 | ||||||
SiteOne Landscape Supply, Inc.(a) | 6,812 | 1,190,601 | ||||||
United Rentals, Inc.(a) | 11,001 | 3,625,379 | ||||||
Univar Solutions, Inc.(a) | 25,626 | 628,862 | ||||||
W.W. Grainger, Inc. | 7,089 | 3,151,628 | ||||||
Watsco, Inc. | 4,905 | 1,385,368 | ||||||
|
| |||||||
16,043,943 |
S C H E D U L E O F I N V E S T M E N T S | 21 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Water Utilities — 0.4% | ||||||||
American Water Works Co., Inc. | 27,617 | $ | 4,697,928 | |||||
Essential Utilities, Inc. | 34,228 | 1,681,279 | ||||||
|
| |||||||
6,379,207 | ||||||||
|
| |||||||
Total Common Stocks — 98.6% |
| 1,704,483,840 | ||||||
|
| |||||||
Investment Companies |
| |||||||
Equity Funds — 0.8% | ||||||||
iShares Russell Mid-Cap ETF(c) | 162,544 | 12,977,513 | ||||||
|
| |||||||
Total Investment Companies — 0.8% | 12,977,513 | |||||||
|
| |||||||
Total Long-Term Investments — 99.4% | 1,717,461,353 | |||||||
|
| |||||||
Short-Term Securities | ||||||||
Money Market Funds — 2.3% | ||||||||
BlackRock Cash Funds: Institutional, | 28,664,086 | 28,678,418 | ||||||
BlackRock Cash Funds: Treasury, | 11,820,501 | 11,820,501 | ||||||
|
| |||||||
Total Short-Term Securities — 2.3% |
| 40,498,919 | ||||||
|
| |||||||
Total Investments — 101.7% |
| 1,757,960,272 | ||||||
Liabilities in Excess of Other Assets — (1.7)% |
| (29,915,648 | ) | |||||
|
| |||||||
Net Assets — 100.0% |
| $ | 1,728,044,624 | |||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(c) | Affiliate of the Fund. |
(d) | Annualized 7-day yield as of period end. |
(e) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
For Fund compliance purposes, the Fund’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 07/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 07/31/21 | Shares Held at 07/31/21 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 28,520,253 | $ | 175,625 | (a) | $ | — | $ | 12,135 | $ | (29,595 | ) | $ | 28,678,418 | 28,664,086 | $ | 158,031 | (b) | $ | — | ||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares | 2,996,526 | 8,823,975 | (a) | — | — | — | 11,820,501 | 11,820,501 | 4,201 | — | ||||||||||||||||||||||||||
iShares Russell Mid-Cap ETF | 3,581,506 | 101,013,509 | (95,437,549 | ) | 3,840,739 | (20,692 | ) | 12,977,513 | 162,544 | 88,788 | — | |||||||||||||||||||||||||
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$ | 3,852,874 | $ | (50,287 | ) | $ | 53,476,432 | $ | 251,020 | $ | — | ||||||||||||||||||||||||||
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(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. |
22 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund |
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 | ||||||||||||||||
S&P 400 E-Mini Index | 27 | 09/17/21 | $ | 7,286 | $ | 61,310 | ||||||||||
S&P 500 E-Mini Index | 18 | 09/17/21 | 3,951 | 55,579 | ||||||||||||
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$ | 116,889 | |||||||||||||||
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Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Assets — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Futures contracts | ||||||||||||||||||||||||||||
Unrealized appreciation on futures contracts(a) | $ | — | $ | — | $ | 116,889 | $ | — | $ | — | $ | — | $ | 116,889 | ||||||||||||||
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(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the year ended July 31, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from | ||||||||||||||||||||||||||||
Futures contracts | $ | — | $ | — | $ | 3,542,485 | $ | — | $ | — | $ | — | $ | 3,542,485 | ||||||||||||||
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Net Change in Unrealized Appreciation (Depreciation) on | ||||||||||||||||||||||||||||
Futures contracts | $ | — | $ | — | $ | 25,918 | $ | — | $ | — | $ | — | $ | 25,918 | ||||||||||||||
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Average Quarterly Balances of Outstanding Derivative Financial Instruments
Futures contracts | ||||
Average notional value of contracts — long | $ | 9,794,460 |
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to 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 | $ | 1,704,483,840 | $ | — | $ | — | $ | 1,704,483,840 | ||||||||
Investment Companies | 12,977,513 | — | — | 12,977,513 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 40,498,919 | — | — | 40,498,919 | ||||||||||||
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$ | 1,757,960,272 | $ | — | $ | — | $ | 1,757,960,272 | |||||||||
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S C H E D U L E O F I N V E S T M E N T S | 23 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Mid-Cap Index Fund |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative Financial Instruments(a) | ||||||||||||||||
Assets | ||||||||||||||||
Equity Contracts | $ | 116,889 | $ | — | $ | — | $ | 116,889 | ||||||||
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(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
24 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Aerospace & Defense — 1.5% | ||||||||
AAR Corp.(a) | 2,798 | $ | 100,056 | |||||
Aerojet Rocketdyne Holdings, Inc. | 5,078 | 239,580 | ||||||
AeroVironment, Inc.(a)(b) | 1,536 | 155,290 | ||||||
AerSale Corp.(a)(b) | 441 | 5,019 | ||||||
Astronics Corp.(a) | 1,486 | 25,381 | ||||||
Axon Enterprise, Inc.(a) | 4,564 | 848,995 | ||||||
BWX Technologies, Inc. | 6,490 | 372,721 | ||||||
Byrna Technologies, Inc.(a) | 679 | 16,296 | ||||||
Curtiss-Wright Corp. | 2,957 | 349,813 | ||||||
Ducommun, Inc.(a) | 742 | 40,031 | ||||||
Hexcel Corp.(a) | 6,104 | 332,180 | ||||||
Howmet Aerospace, Inc.(a) | 28,016 | 919,485 | ||||||
Huntington Ingalls Industries, Inc. | 2,793 | 572,928 | ||||||
Kaman Corp. | 2,369 | 105,065 | ||||||
Kratos Defense & Security Solutions, Inc.(a) | 8,304 | 225,869 | ||||||
Maxar Technologies, Inc. | 4,864 | 176,417 | ||||||
Mercury Systems, Inc.(a) | 3,769 | 248,754 | ||||||
Moog, Inc., Class A | 2,165 | 168,588 | ||||||
National Presto Industries, Inc. | 341 | 32,900 | ||||||
PAE, Inc.(a) | 4,445 | 39,649 | ||||||
Park Aerospace Corp. | 1,544 | 23,006 | ||||||
Parsons Corp.(a)(b) | 1,685 | 65,075 | ||||||
Spirit AeroSystems Holdings, Inc., Class A | 7,880 | 340,495 | ||||||
Textron, Inc.(b) | 16,141 | 1,113,890 | ||||||
Triumph Group, Inc.(a) | 3,546 | 67,551 | ||||||
Vectrus, Inc.(a) | 714 | 32,337 | ||||||
Virgin Galactic Holdings Inc.(a)(b) | 10,574 | 317,114 | ||||||
|
| |||||||
6,934,485 | ||||||||
Air Freight & Logistics — 0.3% | ||||||||
Air Transport Services Group, Inc.(a) | 4,056 | 98,155 | ||||||
Atlas Air Worldwide Holdings, Inc.(a) | 1,956 | 130,993 | ||||||
Echo Global Logistics, Inc.(a) | 1,792 | 55,427 | ||||||
Forward Air Corp. | 2,047 | 181,037 | ||||||
Hub Group, Inc., Class A(a) | 2,662 | 176,437 | ||||||
Radiant Logistics, Inc.(a) | 2,218 | 13,796 | ||||||
XPO Logistics, Inc.(a) | 6,625 | 918,821 | ||||||
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1,574,666 | ||||||||
Airlines(a) — 0.6% | ||||||||
Alaska Air Group, Inc. | 8,757 | 508,169 | ||||||
Allegiant Travel Co. | 1,095 | 208,181 | ||||||
American Airlines Group, Inc. | 45,438 | 926,026 | ||||||
Copa Holdings SA, Class A | 2,155 | 152,811 | ||||||
Frontier Group Holdings, Inc. | 2,214 | 32,634 | ||||||
Hawaiian Holdings, Inc. | 3,363 | 66,352 | ||||||
JetBlue Airways Corp. | 23,063 | 341,102 | ||||||
Mesa Air Group, Inc. | 2,366 | 21,105 | ||||||
SkyWest, Inc. | 3,844 | 155,644 | ||||||
Spirit Airlines, Inc. | 6,690 | 180,496 | ||||||
Sun Country Airlines Holdings, Inc.(b) | 1,103 | 35,837 | ||||||
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2,628,357 | ||||||||
Auto Components — 1.1% | ||||||||
Adient PLC(a) | 6,693 | 281,976 | ||||||
American Axle & Manufacturing Holdings, Inc.(a) | 7,287 | 70,611 | ||||||
BorgWarner, Inc. | 17,012 | 833,248 | ||||||
Cooper-Standard Holdings, Inc.(a) | 1,173 | 30,557 | ||||||
Dana, Inc. | 10,405 | 251,385 | ||||||
Dorman Products, Inc.(a) | 1,778 | 179,845 | ||||||
Fox Factory Holding Corp.(a) | 3,011 | 486,397 | ||||||
Gentex Corp. | 17,289 | 588,345 |
Security | Shares | Value | ||||||
Auto Components (continued) | ||||||||
Gentherm, Inc.(a) | 2,460 | $ | 204,008 | |||||
Goodyear Tire & Rubber Co.(a) | 20,276 | 318,536 | ||||||
LCI Industries | 1,686 | 245,852 | ||||||
Lear Corp. | 4,274 | 747,864 | ||||||
Modine Manufacturing Co.(a) | 3,208 | 53,670 | ||||||
Motorcar Parts of America, Inc.(a)(b) | 1,186 | 26,377 | ||||||
Patrick Industries, Inc. | 1,549 | 127,994 | ||||||
QuantumScape Corp.(a)(b) | 7,970 | 182,593 | ||||||
Standard Motor Products, Inc. | 1,357 | 56,668 | ||||||
Stoneridge, Inc.(a) | 2,552 | 73,880 | ||||||
Tenneco, Inc., Class A(a) | 4,629 | 80,591 | ||||||
Visteon Corp.(a) | 1,986 | 226,503 | ||||||
XL Fleet Corp.(a)(b) | 2,492 | 17,394 | ||||||
XPEL Inc.(a) | 1,441 | 133,436 | ||||||
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| |||||||
5,217,730 | ||||||||
Automobiles — 0.3% | ||||||||
Arcimoto, Inc.(a)(b) | 1,786 | 29,201 | ||||||
Canoo, Inc.(a)(b) | 5,183 | 42,138 | ||||||
Fisker, Inc.(a)(b) | 10,814 | 174,322 | ||||||
Harley-Davidson, Inc. | 11,043 | 437,524 | ||||||
Lordstown Motors Corp., Class A(a) | 7,320 | 45,677 | ||||||
Thor Industries, Inc. | 3,626 | 429,173 | ||||||
Winnebago Industries, Inc. | 2,184 | 156,964 | ||||||
Workhorse Group, Inc.(a)(b) | 8,097 | 93,439 | ||||||
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1,408,438 | ||||||||
Banks — 5.5% | ||||||||
1st Source Corp. | 1,728 | 79,125 | ||||||
Allegiance Bancshares, Inc. | 1,125 | 41,029 | ||||||
Altabancorp | 1,672 | 67,532 | ||||||
Amalgamated Financial Corp. | 1,032 | 15,852 | ||||||
Amerant Bancorp, Inc.(a) | 1,471 | 32,583 | ||||||
American National Bankshares, Inc. | 660 | 20,849 | ||||||
Ameris Bancorp | 4,116 | 200,079 | ||||||
Arrow Financial Corp. | 987 | 35,581 | ||||||
Associated Banc-Corp. | 11,121 | 220,196 | ||||||
Atlantic Capital Bancshares, Inc.(a) | 1,333 | 31,992 | ||||||
Atlantic Union Bankshares Corp. | 5,606 | 198,845 | ||||||
Banc of California, Inc. | 2,958 | 50,641 | ||||||
BancFirst Corp. | 1,225 | 67,963 | ||||||
Bancorp, Inc.(a) | 3,411 | 79,715 | ||||||
BancorpSouth Bank | 6,725 | 173,505 | ||||||
Bank First Corp. | 368 | 25,756 | ||||||
Bank of Hawaii Corp. | 3,107 | 260,087 | ||||||
Bank of Marin Bancorp | 883 | 30,640 | ||||||
Bank of NT Butterfield & Son Ltd. | 3,381 | 112,046 | ||||||
Bank OZK | 9,006 | 366,634 | ||||||
BankUnited, Inc. | 5,703 | 225,725 | ||||||
Banner Corp. | 1,390 | 73,726 | ||||||
Bar Harbor Bankshares | 913 | 26,148 | ||||||
Berkshire Hills Bancorp, Inc. | 2,757 | 74,549 | ||||||
Blue Ridge Bankshares, Inc. | 1,042 | 17,849 | ||||||
BOK Financial Corp. | 2,400 | 201,624 | ||||||
Brookline Bancorp, Inc. | 4,667 | 67,065 | ||||||
Bryn Mawr Bank Corp. | 1,444 | 56,504 | ||||||
Business First Bancshares, Inc. | 2,243 | 52,284 | ||||||
Byline Bancorp, Inc. | 2,571 | 63,272 | ||||||
Cadence BanCorp | 7,355 | 139,745 | ||||||
Cambridge Bancorp | 637 | 54,514 | ||||||
Camden National Corp. | 1,130 | 50,590 | ||||||
Capital Bancorp, Inc. | 548 | 12,451 | ||||||
Capital City Bank Group, Inc. | 884 | 21,517 | ||||||
Capstar Financial Holdings, Inc. | 2,308 | 48,930 |
S C H E D U L E O F I N V E S T M E N T S | 25 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Carter Bankshares, Inc.(a) | 1,661 | $ | 19,052 | |||||
Cathay General Bancorp | 5,716 | 216,465 | ||||||
CBTX, Inc. | 2,019 | 53,100 | ||||||
Central Pacific Financial Corp. | 715 | 18,304 | ||||||
Century Bancorp, Inc., Class A | 196 | 22,418 | ||||||
CIT Group, Inc. | 6,767 | 326,440 | ||||||
Citizens & Northern Corp. | 1,893 | 46,757 | ||||||
City Holding Co. | 956 | 72,331 | ||||||
Civista Bancshares, Inc. | 1,960 | 44,864 | ||||||
CNB Financial Corp. | 964 | 22,230 | ||||||
Coastal Financial Corp.(a) | 663 | 19,373 | ||||||
Columbia Banking System, Inc. | 4,448 | 155,413 | ||||||
Comerica, Inc. | 10,161 | 697,654 | ||||||
Commerce Bancshares, Inc. | 7,669 | 542,428 | ||||||
Community Bank System, Inc. | 3,296 | 236,125 | ||||||
Community Trust Bancorp, Inc. | 1,197 | 47,593 | ||||||
ConnectOne Bancorp, Inc. | 3,307 | 86,974 | ||||||
CrossFirst Bankshares, Inc.(a) | 3,186 | 43,999 | ||||||
Cullen/Frost Bankers, Inc. | 4,227 | 453,642 | ||||||
Customers Bancorp, Inc.(a) | 2,029 | 73,490 | ||||||
CVB Financial Corp. | 8,038 | 153,204 | ||||||
Dime Community Bancshares, Inc. | 2,302 | 76,012 | ||||||
Eagle Bancorp, Inc. | 1,944 | 106,978 | ||||||
East West Bancorp, Inc. | 10,160 | 722,884 | ||||||
Eastern Bankshares, Inc. | 12,412 | 226,519 | ||||||
Enterprise Bancorp, Inc. | 520 | 17,004 | ||||||
Enterprise Financial Services Corp. | 2,942 | 131,125 | ||||||
Equity Bancshares, Inc., Class A(a) | 1,042 | 30,697 | ||||||
Farmers National Banc Corp. | 1,941 | 29,794 | ||||||
FB Financial Corp. | 2,840 | 107,380 | ||||||
Fidelity D&D Bancorp, Inc. | 254 | 12,954 | ||||||
Financial Institutions, Inc. | 1,270 | 37,389 | ||||||
First Bancorp, Inc. | 776 | 22,551 | ||||||
First BanCorp, Puerto Rico | 13,250 | 160,723 | ||||||
First Bancorp/Southern Pines NC | 1,695 | 67,800 | ||||||
First Bancshares, Inc. | 1,476 | 56,929 | ||||||
First Bank/Hamilton | 1,239 | 16,510 | ||||||
First Busey Corp. | 3,679 | 86,824 | ||||||
First Citizens BancShares, Inc., Class A(b) | 443 | 346,687 | ||||||
First Commonwealth Financial Corp. | 5,802 | 76,412 | ||||||
First Community Bancshares, Inc. | 1,485 | 43,362 | ||||||
First Financial Bancorp | 5,970 | 134,325 | ||||||
First Financial Bankshares, Inc. | 9,347 | 456,508 | ||||||
First Financial Corp. | 862 | 34,523 | ||||||
First Foundation, Inc. | 2,814 | 66,326 | ||||||
First Hawaiian, Inc. | 8,965 | 246,806 | ||||||
First Horizon Corp. | 39,955 | 617,305 | ||||||
First Internet Bancorp | 691 | 20,923 | ||||||
First Interstate Bancsystem, Inc., Class A | 3,415 | 143,157 | ||||||
First Merchants Corp. | 4,398 | 179,131 | ||||||
First Mid Bancshares, Inc. | 1,751 | 71,248 | ||||||
First Midwest Bancorp, Inc. | 6,932 | 124,360 | ||||||
First of Long Island Corp. | 1,666 | 35,902 | ||||||
Five Star Bancorp | 288 | 7,019 | ||||||
Flushing Financial Corp. | 2,202 | 48,554 | ||||||
FNB Corp. | 24,678 | 282,810 | ||||||
Fulton Financial Corp. | 12,114 | 185,586 | ||||||
German American Bancorp, Inc. | 1,691 | 63,751 | ||||||
Glacier Bancorp, Inc. | 7,000 | 360,920 | ||||||
Great Southern Bancorp, Inc. | 895 | 46,567 | ||||||
Great Western Bancorp, Inc. | 3,300 | 101,640 | ||||||
Guaranty Bancshares, Inc. | 438 | 14,651 | ||||||
Hancock Whitney Corp. | 6,254 | 273,362 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Hanmi Financial Corp. | 1,558 | $ | 28,402 | |||||
HarborOne Bancorp, Inc. | 3,651 | 49,690 | ||||||
HBT Financial, Inc. | 587 | 9,592 | ||||||
Heartland Financial USA, Inc. | 2,900 | 132,298 | ||||||
Heritage Commerce Corp. | 4,374 | 47,414 | ||||||
Heritage Financial Corp. | 2,200 | 53,218 | ||||||
Hilltop Holdings, Inc. | 4,424 | 140,152 | ||||||
Home BancShares, Inc. | 11,091 | 234,907 | ||||||
HomeTrust Bancshares, Inc. | 1,199 | 31,570 | ||||||
Hope Bancorp, Inc. | 6,986 | 92,565 | ||||||
Horizon Bancorp, Inc. | 3,263 | 54,525 | ||||||
Howard Bancorp, Inc.(a) | 1,349 | 26,575 | ||||||
Independent Bank Corp. | 3,678 | 175,357 | ||||||
Independent Bank Group, Inc. | 2,801 | 195,230 | ||||||
International Bancshares Corp. | 4,127 | 161,283 | ||||||
Investors Bancorp, Inc. | 15,346 | 212,082 | ||||||
Lakeland Bancorp, Inc. | 3,305 | 54,103 | ||||||
Lakeland Financial Corp. | 1,965 | 131,400 | ||||||
Live Oak Bancshares, Inc.(b) | 2,154 | 129,649 | ||||||
Macatawa Bank Corp. | 2,222 | 18,487 | ||||||
Mercantile Bank Corp. | 1,818 | 56,813 | ||||||
Metrocity Bankshares, Inc. | 1,301 | 25,981 | ||||||
Metropolitan Bank Holding Corp.(a) | 816 | 57,960 | ||||||
Mid Penn Bancorp, Inc. | 676 | 17,610 | ||||||
Midland States Bancorp, Inc. | 1,684 | 41,443 | ||||||
MidWestOne Financial Group, Inc. | 1,385 | 40,345 | ||||||
MVB Financial Corp. | 703 | 29,139 | ||||||
National Bank Holdings Corp., Class A | 1,729 | 61,310 | ||||||
NBT Bancorp, Inc. | 2,632 | 91,725 | ||||||
Nicolet Bankshares, Inc.(a) | 651 | 47,126 | ||||||
Northrim BanCorp, Inc. | 905 | 36,942 | ||||||
OceanFirst Financial Corp. | 4,183 | 81,569 | ||||||
OFG Bancorp | 3,086 | 71,287 | ||||||
Old National Bancorp | 10,106 | 162,606 | ||||||
Old Second Bancorp, Inc. | 2,326 | 26,935 | ||||||
Origin Bancorp, Inc. | 1,562 | 63,542 | ||||||
Orrstown Financial Services, Inc. | 845 | 19,477 | ||||||
Pacific Premier Bancorp, Inc. | 5,038 | 191,343 | ||||||
PacWest Bancorp | 8,390 | 334,090 | ||||||
Park National Corp. | 1,201 | 136,806 | ||||||
Peapack Gladstone Financial Corp. | 1,354 | 43,612 | ||||||
Peoples Bancorp, Inc. | 1,486 | 43,822 | ||||||
Peoples Financial Services Corp. | 541 | 23,209 | ||||||
People’s United Financial, Inc. | 30,772 | 483,120 | ||||||
Pinnacle Financial Partners, Inc. | 5,462 | 489,450 | ||||||
Popular, Inc. | 6,110 | 444,564 | ||||||
Preferred Bank/Los Angeles CA | 921 | 54,321 | ||||||
Premier Financial Bancorp, Inc. | 850 | 14,467 | ||||||
Primis Financial Corp. | 2,009 | 31,240 | ||||||
Prosperity Bancshares, Inc. | 6,464 | 440,780 | ||||||
QCR Holdings, Inc. | 1,415 | 69,462 | ||||||
RBB Bancorp | 1,180 | 28,237 | ||||||
Red River Bancshares, Inc. | 321 | 16,355 | ||||||
Reliant Bancorp, Inc. | 897 | 24,937 | ||||||
Renasant Corp. | 3,359 | 118,170 | ||||||
Republic Bancorp, Inc., Class A | 679 | 33,108 | ||||||
Republic First Bancorp, Inc.(a) | 2,161 | 7,974 | ||||||
S&T Bancorp, Inc. | 2,342 | 68,972 | ||||||
Sandy Spring Bancorp, Inc. | 3,634 | 151,138 | ||||||
Seacoast Banking Corp. of Florida | 3,144 | 95,546 | ||||||
ServisFirst Bancshares, Inc. | 3,443 | 244,728 | ||||||
Sierra Bancorp | 947 | 22,851 | ||||||
Signature Bank | 4,009 | 909,923 |
26 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Silvergate Capital Corp., Class A(a) | 1,557 | $ | 160,060 | |||||
Simmons First National Corp., Class A | 6,710 | 182,646 | ||||||
SmartFinancial, Inc. | 1,198 | 29,195 | ||||||
South Plains Financial, Inc. | 568 | 13,064 | ||||||
South State Corp. | 5,178 | 356,454 | ||||||
Southern First Bancshares, Inc.(a) | 999 | 49,480 | ||||||
Southside Bancshares, Inc. | 1,938 | 69,846 | ||||||
Spirit of Texas Bancshares, Inc. | 1,049 | 24,421 | ||||||
Sterling Bancorp | 14,522 | 315,273 | ||||||
Stock Yards Bancorp, Inc. | 1,485 | 70,745 | ||||||
Summit Financial Group, Inc. | 760 | 17,670 | ||||||
Synovus Financial Corp. | 10,898 | 445,728 | ||||||
Texas Capital Bancshares, Inc.(a) | 3,468 | 218,415 | ||||||
Tompkins Financial Corp. | 946 | 72,606 | ||||||
TowneBank | 5,525 | 164,700 | ||||||
Trico Bancshares | 2,376 | 93,686 | ||||||
TriState Capital Holdings, Inc.(a)(b) | 1,965 | 39,909 | ||||||
Triumph Bancorp, Inc.(a) | 1,627 | 124,726 | ||||||
Trustmark Corp. | 4,312 | 129,446 | ||||||
UMB Financial Corp. | 3,261 | 305,230 | ||||||
Umpqua Holdings Corp. | 16,074 | 303,316 | ||||||
United Bankshares, Inc. | 9,205 | 317,941 | ||||||
United Community Banks, Inc. | 4,295 | 123,739 | ||||||
Univest Financial Corp. | 1,926 | 52,695 | ||||||
Valley National Bancorp | 30,106 | 388,066 | ||||||
Veritex Holdings, Inc. | 2,924 | 98,100 | ||||||
Washington Trust Bancorp, Inc. | 1,251 | 60,986 | ||||||
Webster Financial Corp. | 6,675 | 321,068 | ||||||
WesBanco, Inc. | 5,028 | 162,304 | ||||||
West BanCorp., Inc. | 1,364 | 40,211 | ||||||
Westamerica BanCorp | 1,623 | 90,158 | ||||||
Western Alliance Bancorp | 7,252 | 673,131 | ||||||
Wintrust Financial Corp. | 4,314 | 308,020 | ||||||
Zions Bancorp NA | 11,844 | 617,665 | ||||||
|
| |||||||
26,414,141 | ||||||||
Beverages — 0.2% | ||||||||
Boston Beer Co., Inc., Class A(a) | 672 | 477,120 | ||||||
Celsius Holdings, Inc.(a) | 3,101 | 212,822 | ||||||
Coca-Cola Consolidated, Inc. | 321 | 128,127 | ||||||
Duckhorn Portfolio, Inc.(a)(b) | 1,282 | 28,165 | ||||||
MGP Ingredients, Inc. | 939 | 56,011 | ||||||
National Beverage Corp. | 1,565 | 71,020 | ||||||
NewAge, Inc.(a)(b) | 8,493 | 16,222 | ||||||
Primo Water Corp. | 10,840 | 179,185 | ||||||
|
| |||||||
1,168,672 | ||||||||
Biotechnology — 5.3% | ||||||||
4D Molecular Therapeutics, Inc.(a) | 539 | 13,405 | ||||||
89bio, Inc.(a) | 687 | 10,758 | ||||||
ACADIA Pharmaceuticals, Inc.(a) | 8,209 | 177,561 | ||||||
Acceleron Pharma, Inc.(a) | 3,818 | 477,479 | ||||||
Adicet Bio, Inc.(a) | 1,274 | 9,428 | ||||||
Aduro Biotech, Inc.(a)(c) | 658 | 1,974 | ||||||
Adverum Biotechnologies, Inc.(a)(b) | 6,357 | 14,430 | ||||||
Aeglea BioTherapeutics, Inc.(a) | 2,882 | 17,667 | ||||||
Affimed NV(a) | 7,715 | 51,305 | ||||||
Agenus, Inc.(a)(b) | 12,908 | 66,863 | ||||||
Agios Pharmaceuticals, Inc.(a)(b) | 4,691 | 225,590 | ||||||
Akebia Therapeutics, Inc.(a) | 10,426 | 25,752 | ||||||
Akero Therapeutics, Inc.(a)(b) | 1,674 | 35,891 | ||||||
Akouos, Inc.(a) | 1,689 | 18,359 | ||||||
Albireo Pharma, Inc.(a) | 1,045 | 29,897 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Aldeyra Therapeutics, Inc.(a) | 3,158 | $ | 28,106 | |||||
Alector, Inc.(a) | 3,926 | 94,361 | ||||||
Aligos Therapeutics, Inc.(a) | 1,204 | 17,542 | ||||||
Alkermes PLC(a) | 10,978 | 284,001 | ||||||
Allakos, Inc.(a) | 2,397 | 190,705 | ||||||
Allogene Therapeutics, Inc.(a) | 4,668 | 102,463 | ||||||
Allovir, Inc.(a)(b) | 2,010 | 38,471 | ||||||
Alpine Immune Sciences, Inc.(a) | 685 | 6,055 | ||||||
Altimmune, Inc.(a) | 2,119 | 19,219 | ||||||
ALX Oncology Holdings, Inc.(a) | 1,148 | 67,227 | ||||||
Amicus Therapeutics, Inc.(a) | 18,079 | 167,954 | ||||||
AnaptysBio, Inc.(a) | 1,291 | 29,667 | ||||||
Anavex Life Sciences Corp.(a) | 4,179 | 75,013 | ||||||
Anika Therapeutics, Inc.(a) | 967 | 38,806 | ||||||
Annexon, Inc.(a) | 2,030 | 42,752 | ||||||
Apellis Pharmaceuticals, Inc.(a) | 4,425 | 283,156 | ||||||
Applied Molecular Transport, Inc.(a) | 1,610 | 45,128 | ||||||
Applied Therapeutics, Inc.(a) | 1,137 | 19,568 | ||||||
AquaBounty Technologies, Inc.(a)(b) | 3,371 | 16,686 | ||||||
Arbutus Biopharma Corp.(a) | 4,973 | 13,377 | ||||||
Arcturus Therapeutics Holdings, Inc.(a) | 1,356 | 42,456 | ||||||
Arcus Biosciences, Inc.(a) | 3,044 | 95,612 | ||||||
Arcutis Biotherapeutics, Inc.(a) | 1,935 | 45,144 | ||||||
Ardelyx, Inc.(a)(b) | 5,709 | 9,934 | ||||||
Arena Pharmaceuticals, Inc.(a) | 4,670 | 288,886 | ||||||
Arrowhead Pharmaceuticals, Inc.(a) | 7,315 | 506,856 | ||||||
Atara Biotherapeutics, Inc.(a) | 5,510 | 70,252 | ||||||
Athenex, Inc.(a)(b) | 5,603 | 21,123 | ||||||
Athersys, Inc.(a)(b) | 12,315 | 20,073 | ||||||
Atossa Therapeutics, Inc.(a)(b) | 7,637 | 22,835 | ||||||
Atreca, Inc., Class A(a)(b) | 1,780 | 9,772 | ||||||
Avid Bioservices, Inc.(a)(b) | 4,153 | 106,524 | ||||||
Avidity Biosciences, Inc.(a) | 2,071 | 39,991 | ||||||
Avita Medical, Inc.(a) | 1,542 | 28,573 | ||||||
Avrobio, Inc.(a) | 2,591 | 19,070 | ||||||
Beam Therapeutics, Inc.(a) | 3,461 | 318,412 | ||||||
Beyondspring, Inc.(a) | 1,455 | 13,852 | ||||||
BioAtla, Inc.(a)(b) | 783 | 32,095 | ||||||
BioCryst Pharmaceuticals, Inc.(a)(b) | 12,191 | 196,519 | ||||||
Biohaven Pharmaceutical Holding Co. Ltd.(a) | 3,866 | 487,155 | ||||||
Biomea Fusion, Inc.(a) | 510 | 6,727 | ||||||
Bioxcel Therapeutics, Inc.(a) | 999 | 25,564 | ||||||
Black Diamond Therapeutics, Inc.(a)(b) | 1,487 | 14,216 | ||||||
Bluebird Bio, Inc.(a) | 5,568 | 141,483 | ||||||
Blueprint Medicines Corp.(a)(b) | 4,269 | 375,117 | ||||||
Bolt Biotherapeutics, Inc.(a) | 873 | 9,734 | ||||||
Bridgebio Pharma, Inc.(a) | 7,790 | 416,375 | ||||||
Brooklyn ImmunoTherapeutics, Inc.(a)(b) | 1,545 | 17,752 | ||||||
C4 Therapeutics, Inc.(a) | 2,245 | 96,849 | ||||||
Cardiff Oncology, Inc.(a) | 2,292 | 12,193 | ||||||
CareDx, Inc.(a) | 3,695 | 310,528 | ||||||
Catalyst Pharmaceuticals, Inc.(a)(b) | 6,545 | 38,223 | ||||||
Celcuity, Inc.(a) | 487 | 9,594 | ||||||
Celldex Therapeutics, Inc.(a) | 2,561 | 112,044 | ||||||
CEL-SCI Corp.(a) | 2,427 | 19,489 | ||||||
Cerevel Therapeutics Holdings, Inc.(a) | 2,244 | 55,292 | ||||||
ChemoCentryx, Inc.(a)(b) | 3,592 | 53,090 | ||||||
Chimerix, Inc.(a) | 4,783 | 31,711 | ||||||
Chinook Therapeutics, Inc.(a) | 2,028 | 26,425 | ||||||
Clene, Inc.(a)(b) | 1,381 | 11,877 | ||||||
Clovis Oncology, Inc.(a)(b) | 6,487 | 31,332 | ||||||
Codiak Biosciences, Inc.(a)(b) | 989 | 17,110 |
S C H E D U L E O F I N V E S T M E N T S | 27 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Cogent Biosciences, Inc.(a) | 2,368 | $ | 14,208 | |||||
Coherus Biosciences, Inc.(a) | 5,678 | 74,098 | ||||||
Contra GTX, Inc.(a)(b)(c) | 23 | 24 | ||||||
Cortexyme, Inc.(a) | 1,303 | 73,633 | ||||||
Crinetics Pharmaceuticals, Inc.(a) | 3,702 | 66,562 | ||||||
Cue Biopharma, Inc.(a) | 1,776 | 18,506 | ||||||
Cullinan Oncology, Inc.(a) | 881 | 20,201 | ||||||
Curis, Inc.(a) | 5,634 | 42,762 | ||||||
Cytokinetics, Inc.(a)(b) | 5,680 | 168,582 | ||||||
CytomX Therapeutics, Inc.(a) | 4,326 | 23,404 | ||||||
Deciphera Pharmaceuticals, Inc.(a) | 3,394 | 103,483 | ||||||
Denali Therapeutics, Inc.(a) | 6,656 | 339,656 | ||||||
DermTech, Inc.(a)(b) | 1,550 | 52,173 | ||||||
Design Therapeutics, Inc.(a) | 849 | 13,143 | ||||||
Dicerna Pharmaceuticals, Inc.(a) | 5,367 | 201,316 | ||||||
Dynavax Technologies Corp.(a) | 7,141 | 66,697 | ||||||
Dyne Therapeutics, Inc.(a) | 1,944 | 35,128 | ||||||
Eagle Pharmaceuticals, Inc.(a)(b) | 797 | 37,061 | ||||||
Editas Medicine, Inc.(a) | 4,859 | 203,398 | ||||||
Eiger Biopharmaceuticals, Inc.(a) | 1,994 | 15,872 | ||||||
Emergent BioSolutions, Inc.(a)(b) | 3,338 | 219,974 | ||||||
Enanta Pharmaceuticals, Inc.(a) | 1,710 | 72,247 | ||||||
Epizyme, Inc.(a)(b) | 9,408 | 62,375 | ||||||
Evelo Biosciences, Inc.(a)(b) | 2,006 | 18,475 | ||||||
Exelixis, Inc.(a) | 21,298 | 358,871 | ||||||
Fate Therapeutics, Inc.(a)(b) | 5,762 | 477,094 | ||||||
FibroGen, Inc.(a) | 5,888 | 76,544 | ||||||
Finch Therapeutics Group, Inc.(a) | 426 | 5,610 | ||||||
Flexion Therapeutics, Inc.(a)(b) | 3,253 | 19,290 | ||||||
Foghorn Therapeutics, Inc.(a)(b) | 1,197 | 10,857 | ||||||
Forma Therapeutics Holdings, Inc.(a) | 2,270 | 51,960 | ||||||
Forte Biosciences, Inc.(a) | 721 | 21,601 | ||||||
Fortress Biotech, Inc.(a) | 5,243 | 16,306 | ||||||
Frequency Therapeutics, Inc.(a)(b) | 2,077 | 17,301 | ||||||
G1 Therapeutics, Inc.(a) | 2,641 | 45,716 | ||||||
Gemini Therapeutics, Inc.(a)(b) | 1,343 | 5,466 | ||||||
Generation Bio Co.(a)(b) | 2,864 | 62,263 | ||||||
Geron Corp.(a)(b) | 20,565 | 25,089 | ||||||
Global Blood Therapeutics, Inc.(a) | 5,042 | 137,798 | ||||||
Gossamer Bio, Inc.(a) | 6,982 | 54,879 | ||||||
Greenwich Lifesciences, Inc.(a)(b) | 254 | 10,025 | ||||||
Gritstone bio, Inc.(a) | 2,626 | 17,542 | ||||||
GT Biopharma, Inc.(a) | 1,529 | 15,214 | ||||||
Halozyme Therapeutics, Inc.(a) | 10,161 | 419,954 | ||||||
Harpoon Therapeutics, Inc.(a) | 1,324 | 12,962 | ||||||
Heron Therapeutics, Inc.(a) | 6,093 | 75,309 | ||||||
Homology Medicines, Inc.(a) | 2,784 | 17,706 | ||||||
Hookipa Pharma, Inc.(a) | 1,356 | 10,482 | ||||||
Humanigen, Inc.(a)(b) | 2,922 | 47,103 | ||||||
iBio, Inc.(a)(b) | 15,962 | 19,793 | ||||||
Ideaya Biosciences, Inc.(a) | 1,815 | 44,468 | ||||||
IGM Biosciences, Inc.(a) | 527 | 35,841 | ||||||
Immunic, Inc.(a) | 960 | 8,477 | ||||||
ImmunityBio, Inc.(a)(b) | 4,352 | 47,698 | ||||||
ImmunoGen, Inc.(a) | 17,127 | 96,082 | ||||||
Immunovant, Inc.(a) | 2,311 | 24,173 | ||||||
Infinity Pharmaceuticals, Inc.(a) | 5,618 | 11,910 | ||||||
Inhibrx, Inc.(a)(b) | 1,794 | 51,057 | ||||||
Inovio Pharmaceuticals, Inc.(a)(b) | 14,195 | 119,238 | ||||||
Inozyme Pharma, Inc.(a) | 861 | 14,439 | ||||||
Insmed, Inc.(a) | 8,031 | 197,563 | ||||||
Instil Bio, Inc.(a) | 1,106 | 16,645 | ||||||
Intellia Therapeutics, Inc.(a)(b) | 4,817 | 683,291 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Intercept Pharmaceuticals, Inc.(a) | 1,828 | $ | 31,588 | |||||
Invitae Corp.(a)(b) | 14,575 | 407,954 | ||||||
Ionis Pharmaceuticals, Inc.(a)(b) | 9,741 | 361,781 | ||||||
Iovance Biotherapeutics, Inc.(a) | 10,992 | 244,792 | ||||||
Ironwood Pharmaceuticals, Inc.(a)(b) | 9,563 | 126,901 | ||||||
iTeos Therapeutics, Inc.(a) | 1,345 | 32,320 | ||||||
IVERIC bio, Inc.(a) | 5,893 | 50,857 | ||||||
Jounce Therapeutics, Inc.(a) | 2,105 | 10,609 | ||||||
Kadmon Holdings, Inc.(a)(b) | 16,913 | 63,593 | ||||||
KalVista Pharmaceuticals, Inc.(a) | 1,310 | 26,383 | ||||||
Karuna Therapeutics, Inc.(a) | 1,518 | 173,386 | ||||||
Karyopharm Therapeutics, Inc.(a) | 4,712 | 39,251 | ||||||
Keros Therapeutics, Inc.(a) | 1,016 | 37,389 | ||||||
Kezar Life Sciences, Inc.(a) | 2,048 | 9,974 | ||||||
Kiniksa Pharmaceuticals Ltd., Class A(a) | 1,909 | 29,265 | ||||||
Kinnate Biopharma, Inc.(a) | 922 | 19,897 | ||||||
Kodiak Sciences, Inc.(a) | 2,279 | 191,071 | ||||||
Kronos Bio, Inc.(a) | 2,520 | 51,534 | ||||||
Krystal Biotech, Inc.(a) | 1,562 | 91,283 | ||||||
Kura Oncology, Inc.(a) | 4,415 | 83,620 | ||||||
Kymera Therapeutics, Inc.(a) | 1,884 | 113,379 | ||||||
Lexicon Pharmaceuticals, Inc.(a) | 4,408 | 15,604 | ||||||
Ligand Pharmaceuticals, Inc.(a)(b) | 1,030 | 116,915 | ||||||
Lineage Cell Therapeutics, Inc.(a) | 7,737 | 20,348 | ||||||
MacroGenics, Inc.(a) | 3,940 | 98,342 | ||||||
Madrigal Pharmaceuticals, Inc.(a) | 1,015 | 88,630 | ||||||
Magenta Therapeutics, Inc.(a) | 1,918 | 13,656 | ||||||
MannKind Corp.(a) | 16,204 | 66,436 | ||||||
MEI Pharma, Inc.(a) | 6,633 | 17,909 | ||||||
MeiraGTx Holdings plc(a) | 3,650 | 51,063 | ||||||
Mersana Therapeutics, Inc.(a) | 4,499 | 49,489 | ||||||
MiMedx Group, Inc.(a) | 7,665 | 93,973 | ||||||
Mirati Therapeutics, Inc.(a) | 2,847 | 455,691 | ||||||
Mirum Pharmaceuticals, Inc.(a) | 259 | 3,743 | ||||||
Molecular Templates, Inc.(a) | 2,370 | 16,590 | ||||||
Morphic Holding, Inc.(a) | 1,357 | 78,190 | ||||||
Mustang Bio, Inc.(a)(b) | 5,153 | 14,892 | ||||||
Myriad Genetics, Inc.(a) | 5,664 | 179,152 | ||||||
Natera, Inc.(a) | 5,915 | 677,386 | ||||||
Neoleukin Therapeutics, Inc.(a) | 2,425 | 16,951 | ||||||
Neurocrine Biosciences, Inc.(a)(b) | 6,742 | 628,422 | ||||||
NexImmune, Inc.(a) | 495 | 5,287 | ||||||
Nkarta, Inc.(a) | 956 | 30,363 | ||||||
Novavax, Inc.(a)(b) | 5,274 | 945,786 | ||||||
Nurix Therapeutics Inc.(a) | 2,047 | 62,925 | ||||||
Ocugen, Inc.(a)(b) | 12,064 | 80,949 | ||||||
Olema Pharmaceuticals, Inc.(a) | 823 | 19,324 | ||||||
Oncocyte Corp.(a) | 5,168 | 26,564 | ||||||
Oncorus, Inc.(a) | 1,299 | 16,653 | ||||||
Oncternal Therapeutics, Inc.(a) | 2,811 | 10,963 | ||||||
OPKO Health, Inc.(a) | 25,937 | 89,223 | ||||||
Organogenesis Holdings, Inc.(a) | 2,497 | 38,304 | ||||||
ORIC Pharmaceuticals, Inc.(a) | 1,902 | 31,668 | ||||||
Outlook Therapeutics, Inc.(a) | 5,469 | 12,360 | ||||||
Oyster Point Pharma, Inc.(a)(b) | 676 | 9,633 | ||||||
Passage Bio, Inc.(a) | 2,413 | 28,473 | ||||||
PMV Pharmaceuticals, Inc.(a) | 1,708 | 58,089 | ||||||
Portage Biotech, Inc.(a) | 213 | 3,225 | ||||||
Poseida Therapeutics, Inc.(a) | 1,849 | 14,995 | ||||||
Praxis Precision Medicines, Inc.(a) | 1,580 | 24,648 | ||||||
Precigen, Inc.(a) | 6,179 | 33,923 | ||||||
Precision BioSciences, Inc.(a) | 3,001 | 29,590 | ||||||
Prelude Therapeutics, Inc.(a)(b) | 728 | 23,325 |
28 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Prometheus Biosciences, Inc.(a) | 713 | $ | 14,952 | |||||
Protagonist Therapeutics, Inc.(a) | 2,709 | 133,906 | ||||||
Prothena Corp. PLC(a) | 2,330 | 116,733 | ||||||
PTC Therapeutics, Inc.(a) | 5,029 | 192,762 | ||||||
Puma Biotechnology, Inc.(a) | 1,922 | 14,453 | ||||||
Radius Health, Inc.(a) | 3,099 | 46,888 | ||||||
Rapt Therapeutics, Inc.(a) | 1,172 | 35,945 | ||||||
Recursion Pharmaceuticals, Inc., Class A(a)(b) | 1,365 | 41,428 | ||||||
REGENXBIO, Inc.(a) | 3,396 | 109,759 | ||||||
Relay Therapeutics, Inc.(a) | 3,981 | 129,144 | ||||||
Reneo Pharmaceuticals, Inc.(a)(b) | 483 | 3,956 | ||||||
Replimune Group, Inc.(a) | 1,752 | 57,343 | ||||||
Revolution Medicines, Inc.(a) | 4,079 | 116,823 | ||||||
Rhythm Pharmaceuticals, Inc.(a) | 2,876 | 49,726 | ||||||
Rigel Pharmaceuticals, Inc.(a) | 11,686 | 46,744 | ||||||
Rocket Pharmaceuticals, Inc.(a)(b) | 2,734 | 97,932 | ||||||
Rubius Therapeutics, Inc.(a)(b) | 2,955 | 63,503 | ||||||
Sage Therapeutics, Inc.(a) | 3,541 | 154,848 | ||||||
Sana Biotechnology, Inc.(a)(b) | 1,783 | 29,045 | ||||||
Sangamo Therapeutics, Inc.(a) | 7,871 | 75,404 | ||||||
Sarepta Therapeutics, Inc.(a) | 5,252 | 355,981 | ||||||
Scholar Rock Holding Corp.(a) | 1,920 | 60,000 | ||||||
Selecta Biosciences, Inc.(a) | 5,804 | 20,082 | ||||||
Sensei Biotherapeutics, Inc.(a) | 626 | 4,939 | ||||||
Seres Therapeutics, Inc.(a) | 4,550 | 32,305 | ||||||
Sesen Bio, Inc.(a) | 11,179 | 41,698 | ||||||
Shattuck Labs, Inc.(a) | 1,722 | 37,953 | ||||||
Sigilon Therapeutics, Inc.(a)(b) | 571 | 2,878 | ||||||
Silverback Therapeutics, Inc.(a)(b) | 857 | 25,950 | ||||||
Solid Biosciences, Inc.(a) | 3,813 | 10,638 | ||||||
Sorrento Therapeutics, Inc.(a)(b) | 18,681 | 153,371 | ||||||
Spectrum Pharmaceuticals, Inc.(a) | 17,434 | 56,137 | ||||||
Spero Therapeutics, Inc.(a)(b) | 1,687 | 22,505 | ||||||
SpringWorks Therapeutics, Inc.(a) | 2,152 | 184,426 | ||||||
Spruce Biosciences, Inc.(a) | 432 | 3,979 | ||||||
SQZ Biotechnologies Co.(a) | 1,451 | 17,557 | ||||||
Stoke Therapeutics, Inc.(a) | 1,241 | 35,530 | ||||||
Summit Therapeutics, Inc.(a) | 1,342 | 9,837 | ||||||
Surface Oncology, Inc.(a) | 2,109 | 12,675 | ||||||
Sutro Biopharma, Inc.(a) | 2,833 | 48,246 | ||||||
Syndax Pharmaceuticals, Inc.(a) | 2,933 | 42,763 | ||||||
Syros Pharmaceuticals, Inc.(a)(b) | 3,721 | 17,191 | ||||||
Talaris Therapeutics, Inc.(a) | 538 | 7,430 | ||||||
Taysha Gene Therapies, Inc.(a)(b) | 1,428 | 24,690 | ||||||
TCR2 Therapeutics, Inc.(a) | 1,899 | 23,624 | ||||||
TG Therapeutics, Inc.(a)(b) | 8,739 | 305,778 | ||||||
Tonix Pharmaceuticals Holding Corp.(a)(b) | 20,783 | 14,881 | ||||||
Translate Bio, Inc.(a)(b) | 4,595 | 127,006 | ||||||
Travere Therapeutics, Inc.(a) | 3,845 | 52,869 | ||||||
Trevena, Inc.(a)(b) | 10,354 | 13,771 | ||||||
Trillium Therapeutics, Inc.(a) | 6,367 | 41,577 | ||||||
Turning Point Therapeutics, Inc.(a) | 3,506 | 223,753 | ||||||
Twist Bioscience Corp.(a) | 3,458 | 425,507 | ||||||
Ultragenyx Pharmaceutical, Inc.(a) | 4,721 | 376,877 | ||||||
United Therapeutics Corp.(a) | 3,174 | 577,446 | ||||||
UroGen Pharma Ltd.(a)(b) | 1,219 | 18,895 | ||||||
Vanda Pharmaceuticals, Inc.(a) | 4,585 | 74,781 | ||||||
Vaxart, Inc.(a)(b) | 7,820 | 56,226 | ||||||
Vaxcyte, Inc.(a) | 2,582 | 55,978 | ||||||
VBI Vaccines, Inc.(a)(b) | 12,192 | 36,332 | ||||||
Veracyte, Inc.(a)(b) | 4,609 | 205,377 | ||||||
Verastem, Inc.(a) | 11,517 | 37,200 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Vericel Corp.(a) | 3,189 | $ | 168,826 | |||||
Viking Therapeutics, Inc.(a)(b) | 4,523 | 27,816 | ||||||
Vincerx Pharma, Inc.(a) | 355 | 4,704 | ||||||
Vir Biotechnology, Inc.(a) | 4,121 | 146,914 | ||||||
Viracta Therapeutics, Inc.(a) | 2,305 | 24,249 | ||||||
VistaGen Therapeutics, Inc.(a) | 12,322 | 32,777 | ||||||
Vor BioPharma, Inc.(a) | 784 | 9,816 | ||||||
Werewolf Therapeutics, Inc.(a) | 444 | 7,734 | ||||||
XBiotech, Inc. | 868 | 14,062 | ||||||
Xencor, Inc.(a) | 4,275 | 131,584 | ||||||
XOMA Corp.(a) | 347 | 11,243 | ||||||
Y-mAbs Therapeutics, Inc.(a) | 2,338 | 77,388 | ||||||
Zentalis Pharmaceuticals, Inc.(a) | 2,175 | 115,732 | ||||||
ZIOPHARM Oncology, Inc.(a)(b) | 13,238 | 30,050 | ||||||
|
| |||||||
25,018,377 | ||||||||
Building Products — 2.0% | ||||||||
A O Smith Corp. | 9,298 | 653,928 | ||||||
AAON, Inc. | 2,839 | 176,444 | ||||||
Advanced Drainage Systems, Inc. | 4,023 | 491,168 | ||||||
Allegion plc | 6,364 | 869,322 | ||||||
American Woodmark Corp.(a) | 1,380 | 102,465 | ||||||
Apogee Enterprises, Inc. | 2,211 | 87,710 | ||||||
Armstrong World Industries, Inc. | 3,223 | 348,664 | ||||||
AZEK Co., Inc.(a) | 8,110 | 294,961 | ||||||
Builders FirstSource, Inc.(a) | 14,651 | 651,970 | ||||||
Caesarstone Ltd. | 1,412 | 18,737 | ||||||
Carlisle Cos., Inc. | 3,622 | 732,513 | ||||||
Cornerstone Building Brands, Inc.(a) | 4,967 | 83,545 | ||||||
CSW Industrials, Inc. | 908 | 107,407 | ||||||
Fortune Brands Home & Security, Inc. | 9,800 | 955,206 | ||||||
Gibraltar Industries, Inc.(a) | 2,225 | 166,163 | ||||||
Griffon Corp. | 3,070 | 70,978 | ||||||
Insteel Industries, Inc. | 1,302 | 50,557 | ||||||
JELD-WEN Holding, Inc.(a) | 6,580 | 174,238 | ||||||
Lennox International, Inc. | 2,390 | 787,338 | ||||||
Masonite International Corp.(a) | 1,876 | 212,288 | ||||||
Owens Corning | 7,443 | 715,719 | ||||||
PGT Innovations, Inc.(a) | 4,849 | 109,490 | ||||||
Quanex Building Products Corp. | 2,276 | 56,536 | ||||||
Resideo Technologies, Inc.(a) | 9,820 | 289,690 | ||||||
Simpson Manufacturing Co., Inc. | 3,128 | 351,838 | ||||||
Trex Co., Inc.(a) | 8,227 | 798,842 | ||||||
UFP Industries, Inc. | 4,360 | 323,774 | ||||||
View, Inc.(a)(b) | 5,475 | 33,343 | ||||||
|
| |||||||
9,714,834 | ||||||||
Capital Markets — 2.4% | ||||||||
Affiliated Managers Group, Inc. | 3,008 | 476,588 | ||||||
Ares Management Corp., Class A | 9,826 | 703,640 | ||||||
Artisan Partners Asset Management, Inc., Class A | 3,928 | 188,898 | ||||||
Assetmark Financial Holdings, Inc.(a) | 1,375 | 35,888 | ||||||
Associated Capital Group, Inc., Class A | 121 | 4,560 | ||||||
B. Riley Financial, Inc. | 1,337 | 90,328 | ||||||
BGC Partners, Inc., Class A | 22,781 | 121,878 | ||||||
Blucora, Inc.(a) | 4,734 | 79,815 | ||||||
Brightsphere Investment Group, Inc. | 3,880 | 96,961 | ||||||
Carlyle Group, Inc. | 11,751 | 593,073 | ||||||
Cboe Global Markets, Inc. | 7,566 | 896,344 | ||||||
Cohen & Steers, Inc. | 1,711 | 142,372 | ||||||
Cowen, Inc., Class A | 1,693 | 67,686 | ||||||
Diamond Hill Investment Group, Inc. | 337 | 58,048 | ||||||
Donnelley Financial Solutions, Inc.(a) | 1,944 | 62,616 | ||||||
Evercore, Inc., Class A | 2,903 | 383,777 |
S C H E D U L E O F I N V E S T M E N T S | 29 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Capital Markets (continued) | ||||||||
FactSet Research Systems, Inc. | 2,691 | $ | 961,440 | |||||
Federated Hermes, Inc. | 6,362 | 206,383 | ||||||
Focus Financial Partners, Inc., Class A(a) | 3,811 | 195,619 | ||||||
GAMCO Investors, Inc., Class A | 288 | 7,759 | ||||||
GCM Grosvenor, Inc., Class A | 2,150 | 21,414 | ||||||
Greenhill & Co., Inc. | 1,057 | 16,933 | ||||||
Hamilton Lane, Inc., Class A | 2,584 | 240,312 | ||||||
Houlihan Lokey, Inc. | 3,535 | 314,968 | ||||||
Invesco Ltd. | 23,941 | 583,682 | ||||||
Janus Henderson Group PLC | 10,642 | 445,261 | ||||||
Jefferies Financial Group, Inc. | 15,640 | 519,092 | ||||||
Lazard Ltd., Class A | 6,968 | 328,890 | ||||||
LPL Financial Holdings, Inc. | 5,716 | 806,185 | ||||||
Moelis & Co., Class A | 4,564 | 270,417 | ||||||
Morningstar, Inc. | 1,687 | 426,187 | ||||||
Open Lending Corp., Class A(a)(b) | 7,065 | 268,470 | ||||||
Oppenheimer Holdings, Inc., Class A | 680 | 30,566 | ||||||
Piper Sandler Cos | 1,412 | 173,238 | ||||||
PJT Partners, Inc., Class A | 1,618 | 126,479 | ||||||
Pzena Investment Management, Inc., Class A | 1,161 | 13,293 | ||||||
Sculptor Capital Management, Inc. | 1,455 | 33,785 | ||||||
SEI Investments Co. | 7,885 | 479,408 | ||||||
StepStone Group, Inc., Class A | 2,463 | 112,091 | ||||||
Stifel Financial Corp. | 6,948 | 462,320 | ||||||
StoneX Group, Inc.(a) | 1,158 | 74,726 | ||||||
Value Line, Inc. | 72 | 2,304 | ||||||
Virtu Financial, Inc., Class A | 6,380 | 164,221 | ||||||
Virtus Investment Partners, Inc. | 499 | 137,789 | ||||||
WisdomTree Investments, Inc. | 9,844 | 60,836 | ||||||
|
| |||||||
11,486,540 | ||||||||
Chemicals — 2.2% | ||||||||
AdvanSix, Inc.(a) | 1,834 | 61,347 | ||||||
American Vanguard Corp. | 1,787 | 29,503 | ||||||
Amyris, Inc.(a)(b) | 11,375 | 165,848 | ||||||
Ashland Global Holdings, Inc. | 3,866 | 328,881 | ||||||
Avient Corp. | 6,128 | 297,331 | ||||||
Axalta Coating Systems Ltd.(a) | 14,368 | 432,477 | ||||||
Balchem Corp. | 2,187 | 295,004 | ||||||
Cabot Corp. | 3,733 | 205,539 | ||||||
CF Industries Holdings, Inc. | 15,336 | 724,626 | ||||||
Chase Corp. | 662 | 77,143 | ||||||
Chemours Co. | 11,916 | 396,207 | ||||||
Danimer Scientific, Inc.(a) | 4,712 | 78,596 | ||||||
Diversey Holdings Ltd.(a) | 3,203 | 53,426 | ||||||
Ecovyst, Inc.(a) | 3,315 | 51,581 | ||||||
Element Solutions, Inc. | 16,854 | 394,215 | ||||||
Ferro Corp.(a) | 6,524 | 135,699 | ||||||
FutureFuel Corp. | 1,853 | 15,751 | ||||||
GCP Applied Technologies, Inc.(a) | 3,243 | 75,400 | ||||||
Hawkins, Inc. | 1,158 | 42,047 | ||||||
HB Fuller Co. | 3,746 | 242,067 | ||||||
Huntsman Corp. | 15,096 | 398,685 | ||||||
Ingevity Corp.(a) | 2,892 | 245,646 | ||||||
Innospec, Inc. | 1,870 | 165,402 | ||||||
Intrepid Potash, Inc.(a) | 619 | 18,756 | ||||||
Koppers Holdings, Inc.(a) | 1,316 | 40,414 | ||||||
Kraton Corp.(a) | 2,073 | 79,168 | ||||||
Kronos Worldwide, Inc. | 1,507 | 20,962 | ||||||
Livent Corp.(a) | 10,021 | 195,510 | ||||||
Marrone Bio Innovations, Inc.(a)(b) | 6,604 | 8,255 | ||||||
Minerals Technologies, Inc. | 2,516 | 201,834 |
Security | Shares | Value | ||||||
Chemicals (continued) | ||||||||
Mosaic Co. | 24,780 | $ | 773,879 | |||||
NewMarket Corp. | 456 | 144,055 | ||||||
Olin Corp. | 10,354 | 486,949 | ||||||
Orion Engineered Carbons SA(a) | 4,001 | 72,338 | ||||||
PureCycle Technologies, Inc.(a) | 2,139 | 31,679 | ||||||
Quaker Chemical Corp.(b) | 912 | 229,587 | ||||||
Rayonier Advanced Materials, Inc.(a) | 3,922 | 27,336 | ||||||
RPM International, Inc. | 9,073 | 785,631 | ||||||
Scotts Miracle-Gro Co. | 2,947 | 521,501 | ||||||
Sensient Technologies Corp. | 3,020 | 263,284 | ||||||
Stepan Co. | 1,482 | 174,802 | ||||||
Tredegar Corp. | 1,634 | 21,356 | ||||||
Trinseo SA | 2,655 | 144,326 | ||||||
Tronox Holdings PLC, Class A | 9,030 | 166,423 | ||||||
Valhi, Inc. | 183 | 4,509 | ||||||
Valvoline, Inc. | 13,098 | 401,847 | ||||||
Westlake Chemical Corp. | 2,257 | 187,150 | ||||||
WR Grace & Co. | 4,159 | 289,466 | ||||||
Zymergen, Inc.(a)(b) | 1,836 | 63,874 | ||||||
|
| |||||||
10,267,312 | ||||||||
Commercial Services & Supplies — 1.2% | ||||||||
ABM Industries, Inc. | 4,598 | 213,761 | ||||||
ACCO Brands Corp. | 6,172 | 55,178 | ||||||
ADT, Inc. | 10,875 | 114,079 | ||||||
Brady Corp., Class A | 3,202 | 175,085 | ||||||
BrightView Holdings, Inc.(a)(b) | 4,270 | 68,448 | ||||||
Brink’s Co. | 3,583 | 275,748 | ||||||
Casella Waste Systems, Inc., Class A(a)(b) | 3,536 | 243,206 | ||||||
CECO Environmental Corp.(a) | 2,022 | 14,235 | ||||||
Cimpress PLC(a)(b) | 1,159 | 118,508 | ||||||
Clean Harbors, Inc.(a) | 3,596 | 341,620 | ||||||
CoreCivic, Inc.(a) | 7,903 | 81,243 | ||||||
Covanta Holding Corp. | 9,080 | 182,508 | ||||||
Deluxe Corp. | 2,891 | 126,915 | ||||||
Driven Brands Holdings, Inc.(a) | 2,355 | 74,936 | ||||||
Ennis, Inc. | 1,912 | 37,800 | ||||||
Harsco Corp.(a) | 5,145 | 103,517 | ||||||
Healthcare Services Group, Inc. | 5,087 | 132,771 | ||||||
Heritage-Crystal Clean, Inc.(a) | 1,789 | 50,414 | ||||||
Herman Miller, Inc. | 5,024 | 216,786 | ||||||
HNI Corp. | 3,397 | 126,708 | ||||||
IAA, Inc.(a) | 9,688 | 585,930 | ||||||
Interface, Inc. | 3,907 | 56,339 | ||||||
KAR Auction Services, Inc.(a) | 8,464 | 139,487 | ||||||
Kimball International, Inc., Class B | 4,124 | 51,055 | ||||||
Matthews International Corp., Class A | 2,080 | 71,968 | ||||||
Montrose Environmental Group Inc.(a) | 1,534 | 82,361 | ||||||
MSA Safety, Inc. | 2,638 | 433,898 | ||||||
NL Industries, Inc. | 244 | 1,471 | ||||||
Pitney Bowes, Inc. | 10,832 | 86,656 | ||||||
RR Donnelley & Sons Co.(a) | 4,555 | 27,877 | ||||||
SP Plus Corp.(a) | 1,600 | 52,464 | ||||||
Steelcase, Inc., Class A | 5,860 | 80,575 | ||||||
Stericycle, Inc.(a) | 6,588 | 464,783 | ||||||
Team, Inc.(a)(b) | 1,914 | 11,809 | ||||||
Tetra Tech, Inc. | 3,839 | 512,583 | ||||||
UniFirst Corp. | 1,014 | 220,819 | ||||||
US Ecology, Inc.(a) | 2,843 | 99,505 |
30 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Commercial Services & Supplies (continued) | ||||||||
Viad Corp.(a) | 1,358 | $ | 62,264 | |||||
VSE Corp. | 681 | 34,084 | ||||||
|
| |||||||
5,829,394 | ||||||||
Communications Equipment — 1.0% | ||||||||
ADTRAN, Inc. | 4,222 | 94,615 | ||||||
Aviat Networks, Inc.(a) | 439 | 16,366 | ||||||
CalAmp Corp.(a) | 2,231 | 27,062 | ||||||
Calix, Inc.(a) | 3,733 | 174,630 | ||||||
Cambium Networks Corp.(a) | 554 | 24,404 | ||||||
Casa Systems, Inc.(a) | 2,392 | 17,964 | ||||||
Ciena Corp.(a) | 11,042 | 641,982 | ||||||
Clearfield, Inc.(a) | 706 | 30,725 | ||||||
CommScope Holding Co., Inc.(a) | 15,293 | 323,600 | ||||||
Comtech Telecommunications Corp. | 1,726 | 43,098 | ||||||
Digi International, Inc.(a) | 2,202 | 45,537 | ||||||
DZS, Inc.(a)(b) | 2,331 | 46,037 | ||||||
EchoStar Corp., Class A(a) | 2,736 | 61,013 | ||||||
EMCORE Corp.(a) | 2,359 | 20,618 | ||||||
Extreme Networks, Inc.(a) | 8,192 | 90,194 | ||||||
F5 Networks, Inc.(a) | 4,264 | 880,559 | ||||||
Harmonic, Inc.(a) | 6,056 | 53,595 | ||||||
Infinera Corp.(a) | 12,308 | 121,972 | ||||||
Inseego Corp.(a) | 5,625 | 48,881 | ||||||
Juniper Networks, Inc. | 23,337 | 656,703 | ||||||
KVH Industries, Inc.(a) | 1,018 | 11,524 | ||||||
Lumentum Holdings, Inc.(a) | 5,235 | 439,688 | ||||||
NETGEAR, Inc.(a) | 2,004 | 68,637 | ||||||
NetScout Systems, Inc.(a) | 4,698 | 135,114 | ||||||
Plantronics, Inc.(a) | 2,251 | 70,209 | ||||||
Ribbon Communications, Inc.(a) | 4,753 | 32,843 | ||||||
ViaSat, Inc.(a)(b) | 4,248 | 210,871 | ||||||
Viavi Solutions, Inc.(a) | 17,327 | 289,188 | ||||||
|
| |||||||
4,677,629 | ||||||||
Construction & Engineering — 1.1% | ||||||||
AECOM(a) | 9,974 | 627,963 | ||||||
Ameresco, Inc., Class A(a) | 2,099 | 143,845 | ||||||
API Group Corp.(a)(b)(d) | 12,732 | 291,818 | ||||||
Arcosa, Inc. | 3,732 | 204,364 | ||||||
Argan, Inc. | 988 | 44,411 | ||||||
Comfort Systems USA, Inc. | 2,748 | 205,413 | ||||||
Concrete Pumping Holdings, Inc.(a) | 1,782 | 15,503 | ||||||
Construction Partners, Inc., Class A(a)(b) | 1,905 | 63,970 | ||||||
Dycom Industries, Inc.(a) | 2,032 | 141,021 | ||||||
EMCOR Group, Inc. | 3,635 | 442,779 | ||||||
Fluor Corp.(a) | 9,696 | 161,535 | ||||||
Granite Construction, Inc. | 3,643 | 139,964 | ||||||
Great Lakes Dredge & Dock Corp.(a) | 4,246 | 65,388 | ||||||
HC2 Holdings, Inc.(a) | 2,755 | 10,138 | ||||||
IES Holdings, Inc.(a) | 549 | 29,871 | ||||||
Infrastructure and Energy Alternatives, Inc.(a) | 1,326 | 16,005 | ||||||
MasTec, Inc.(a) | 4,060 | 410,994 | ||||||
Matrix Service Co.(a) | 1,644 | 17,936 | ||||||
MYR Group, Inc.(a) | 1,113 | 106,436 | ||||||
Northwest Pipe Co.(a) | 587 | 16,677 | ||||||
NV5 Global, Inc.(a) | 1,079 | 102,505 | ||||||
Primoris Services Corp. | 3,642 | 108,896 | ||||||
Quanta Services, Inc. | 9,809 | 891,638 |
Security | Shares | Value | ||||||
Construction & Engineering (continued) | ||||||||
Sterling Construction Co., Inc.(a) | 1,718 | $ | 37,727 | |||||
Tutor Perini Corp.(a)(b) | 2,825 | 39,748 | ||||||
Valmont Industries, Inc. | 1,417 | 335,758 | ||||||
WillScot Mobile Mini Holdings Corp.(a) | 12,859 | 369,182 | ||||||
|
| |||||||
5,041,485 | ||||||||
Construction Materials — 0.2% | ||||||||
Eagle Materials, Inc. | 2,980 | 421,133 | ||||||
Forterra, Inc.(a) | 1,997 | 47,109 | ||||||
Summit Materials, Inc., Class A(a) | 8,646 | 290,506 | ||||||
United States Lime & Minerals, Inc. | 103 | 14,317 | ||||||
US Concrete, Inc.(a) | 1,091 | 79,436 | ||||||
|
| |||||||
852,501 | ||||||||
Consumer Finance — 0.7% | ||||||||
Atlanticus Holdings Corp.(a) | 357 | 15,522 | ||||||
Credit Acceptance Corp.(a)(b) | 681 | 330,128 | ||||||
Curo Group Holdings Corp. | 1,527 | 24,081 | ||||||
Encore Capital Group, Inc.(a)(b) | 2,116 | 100,172 | ||||||
Enova International, Inc.(a) | 3,032 | 100,329 | ||||||
Ezcorp, Inc., Class A(a) | 3,073 | 17,578 | ||||||
FirstCash, Inc. | 3,060 | 242,352 | ||||||
Green Dot Corp., Class A(a) | 3,218 | 148,253 | ||||||
LendingClub Corp.(a) | 6,643 | 162,089 | ||||||
LendingTree, Inc.(a) | 791 | 154,419 | ||||||
Navient Corp. | 13,120 | 268,042 | ||||||
Nelnet, Inc., Class A | 1,142 | 85,993 | ||||||
OneMain Holdings, Inc. | 6,231 | 380,091 | ||||||
Oportun Financial Corp.(a) | 1,378 | 29,048 | ||||||
PRA Group, Inc.(a) | 3,024 | 117,301 | ||||||
PROG Holdings, Inc. | 4,593 | 201,036 | ||||||
Regional Management Corp. | 1,032 | 53,385 | ||||||
Santander Consumer USA Holdings, Inc. | 4,079 | 167,361 | ||||||
SLM Corp. | 23,170 | 436,291 | ||||||
Upstart Holdings Inc.(a) | 856 | 103,371 | ||||||
World Acceptance Corp.(a) | 292 | 55,354 | ||||||
|
| |||||||
3,192,196 | ||||||||
Containers & Packaging — 1.4% | ||||||||
AptarGroup, Inc. | 4,518 | 582,461 | ||||||
Ardagh Group SA | 1,258 | 29,374 | ||||||
Avery Dennison Corp. | 5,899 | 1,242,801 | ||||||
Berry Global Group, Inc.(a) | 9,647 | 620,206 | ||||||
Crown Holdings, Inc. | 9,265 | 924,276 | ||||||
Graphic Packaging Holding Co. | 19,622 | 376,154 | ||||||
Greif, Inc., Class A | 1,651 | 100,084 | ||||||
Greif, Inc., Class B | 451 | 27,457 | ||||||
Myers Industries, Inc. | 2,482 | 52,569 | ||||||
O-I Glass, Inc.(a) | 10,774 | 159,347 | ||||||
Packaging Corp. of America | 6,669 | 943,663 | ||||||
Pactiv Evergreen, Inc. | 2,709 | 39,199 | ||||||
Ranpak Holdings Corp.(a) | 2,256 | 57,799 | ||||||
Sealed Air Corp. | 10,886 | 617,780 | ||||||
Silgan Holdings, Inc. | 5,713 | 231,491 | ||||||
Sonoco Products Co. | 7,248 | 462,350 | ||||||
UFP Technologies, Inc.(a)(b) | 418 | 24,988 | ||||||
|
| |||||||
6,491,999 | ||||||||
Distributors — 0.3% | ||||||||
Core-Mark Holding Co., Inc. | 3,611 | 155,418 |
S C H E D U L E O F I N V E S T M E N T S | 31 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Distributors (continued) | ||||||||
Funko, Inc., Class A(a) | 1,796 | $ | 33,513 | |||||
Greenlane Holdings, Inc., Class A(a)(b) | 1,307 | 4,653 | ||||||
Pool Corp. | 2,771 | 1,324,039 | ||||||
|
| |||||||
1,517,623 | ||||||||
Diversified Consumer Services — 1.0% | ||||||||
2U, Inc.(a)(b) | 4,872 | 211,445 | ||||||
Adtalem Global Education, Inc.(a) | 3,897 | 141,617 | ||||||
American Public Education, Inc.(a) | 1,194 | 35,366 | ||||||
Bright Horizons Family Solutions, Inc.(a) | 4,372 | 653,614 | ||||||
Carriage Services, Inc. | 1,622 | 60,306 | ||||||
Chegg, Inc.(a) | 10,036 | 889,491 | ||||||
Coursera, Inc.(a) | 780 | 27,760 | ||||||
frontdoor, Inc.(a) | 5,882 | 287,865 | ||||||
Graham Holdings Co., Class B | 262 | 174,141 | ||||||
Grand Canyon Education, Inc.(a)(b) | 3,139 | 289,949 | ||||||
H&R Block, Inc. | 12,414 | 304,764 | ||||||
Houghton Mifflin Harcourt Co.(a) | 8,789 | 99,491 | ||||||
Laureate Education, Inc., Class A(a) | 6,983 | 103,418 | ||||||
OneSpaWorld Holdings Ltd.(a) | 3,445 | 34,037 | ||||||
Perdoceo Education Corp.(a) | 4,651 | 55,161 | ||||||
Regis Corp.(a)(b) | 1,614 | 12,864 | ||||||
Service Corp. International | 11,729 | 732,945 | ||||||
StoneMor, Inc.(a) | 1,811 | 4,799 | ||||||
Strategic Education, Inc. | 1,629 | 129,163 | ||||||
Stride, Inc.(a)(b) | 2,699 | 82,751 | ||||||
Terminix Global Holdings, Inc.(a) | 8,889 | 466,673 | ||||||
Vivint Smart Home, Inc.(a)(b) | 6,381 | 78,295 | ||||||
WW International, Inc.(a)(b) | 3,589 | 110,326 | ||||||
|
| |||||||
4,986,241 | ||||||||
Diversified Financial Services — 0.2% | ||||||||
Alerus Financial Corp. | 903 | 25,239 | ||||||
A-Mark Precious Metals, Inc. | 606 | 30,870 | ||||||
Banco Latinoamericano de Comercio Exterior SA, Class E | 2,413 | 39,766 | ||||||
Cannae Holdings, Inc.(a) | 6,571 | 218,486 | ||||||
Marlin Business Services Corp. | 464 | 10,468 | ||||||
Voya Financial, Inc. | 8,411 | 541,668 | ||||||
|
| |||||||
866,497 | ||||||||
Diversified Telecommunication Services — 0.3% | ||||||||
Anterix, Inc.(a) | 714 | 41,640 | ||||||
ATN International, Inc. | 786 | 33,837 | ||||||
Bandwidth, Inc., Class A(a)(b) | 1,640 | 212,642 | ||||||
Cincinnati Bell, Inc.(a) | 2,925 | 44,870 | ||||||
Cogent Communications Holdings, Inc. | 2,899 | 224,991 | ||||||
Consolidated Communications Holdings, Inc.(a) | 4,694 | 36,097 | ||||||
Globalstar, Inc.(a)(b) | 39,424 | 54,405 | ||||||
IDT Corp., Class B(a) | 1,380 | 68,724 | ||||||
Iridium Communications, Inc.(a)(b) | 8,360 | 353,043 | ||||||
Liberty Latin America Ltd., Class A(a) | 4,067 | 55,515 | ||||||
Liberty Latin America Ltd., Class C(a) | 10,169 | 140,637 | ||||||
Ooma, Inc.(a) | 1,534 | 28,456 | ||||||
ORBCOMM, Inc.(a) | 4,934 | 55,705 | ||||||
Radius Global Infrastructure, Inc., Class A(a) | 2,811 | 43,093 | ||||||
|
| |||||||
1,393,655 | ||||||||
Electric Utilities — 0.8% | ||||||||
ALLETE, Inc. | 3,563 | 250,550 | ||||||
Hawaiian Electric Industries, Inc. | 7,193 | 311,744 | ||||||
IDACORP, Inc. | 3,624 | 382,151 | ||||||
MGE Energy, Inc. | 2,426 | 189,519 | ||||||
NRG Energy, Inc. | 17,332 | 714,772 |
Security | Shares | Value | ||||||
Electric Utilities (continued) | ||||||||
OGE Energy Corp. | 13,824 | $ | 466,560 | |||||
Otter Tail Corp. | 2,845 | 144,497 | ||||||
Pinnacle West Capital Corp. | 8,016 | 669,737 | ||||||
PNM Resources, Inc. | 6,305 | 304,721 | ||||||
Portland General Electric Co. | 6,361 | 311,053 | ||||||
Spark Energy, Inc., Class A | 861 | 9,583 | ||||||
|
| |||||||
3,754,887 | ||||||||
Electrical Equipment — 1.5% | ||||||||
Acuity Brands, Inc. | 2,549 | 447,044 | ||||||
Advent Technologies Holdings, Inc.(a)(b) | 1,028 | 8,008 | ||||||
Allied Motion Technologies, Inc. | 645 | 21,227 | ||||||
American Superconductor Corp.(a) | 1,758 | 24,700 | ||||||
Array Technologies, Inc.(a) | 8,661 | 117,270 | ||||||
Atkore, Inc.(a) | 3,188 | 239,451 | ||||||
AZZ, Inc. | 2,075 | 109,954 | ||||||
Babcock & Wilcox Enterprises, Inc.(a) | 3,578 | 25,618 | ||||||
Beam Global(a)(b) | 566 | 17,303 | ||||||
Bloom Energy Corp., Class A(a) | 9,450 | 206,010 | ||||||
ChargePoint Holdings, Inc.(a)(b) | 9,876 | 233,567 | ||||||
Encore Wire Corp. | 1,573 | 123,370 | ||||||
EnerSys | 3,029 | 298,841 | ||||||
Eos Energy Enterprises, Inc.(a)(b) | 1,125 | 17,460 | ||||||
FTC Solar, Inc.(a) | 1,144 | 11,600 | ||||||
FuelCell Energy, Inc.(a)(b) | 22,180 | 140,399 | ||||||
GrafTech International Ltd. | 11,651 | 132,472 | ||||||
Hubbell, Inc. | 3,844 | 770,568 | ||||||
nVent Electric PLC | 12,323 | 389,530 | ||||||
Plug Power, Inc.(a) | 35,701 | 973,923 | ||||||
Powell Industries, Inc. | 551 | 16,029 | ||||||
Preformed Line Products Co. | 205 | 14,047 | ||||||
Regal Beloit Corp. | 2,729 | 401,791 | ||||||
Romeo Power, Inc.(a)(b) | 2,693 | 18,986 | ||||||
Sensata Technologies Holding PLC(a) | 11,119 | 651,796 | ||||||
Shoals Technologies Group, Inc., Class A(a) | 7,315 | 212,793 | ||||||
Stem, Inc.(a)(b) | 4,255 | 115,353 | ||||||
Sunrun, Inc.(a)(b) | 14,208 | 752,598 | ||||||
Thermon Group Holdings, Inc.(a) | 2,055 | 34,236 | ||||||
TPI Composites, Inc.(a) | 2,447 | 95,776 | ||||||
Vertiv Holdings Co. | 20,248 | 567,754 | ||||||
Vicor Corp.(a) | 1,422 | 164,397 | ||||||
|
| |||||||
7,353,871 | ||||||||
Electronic Equipment, Instruments & Components — 2.1% | ||||||||
908 Devices, Inc.(a) | 525 | 16,406 | ||||||
Advanced Energy Industries, Inc. | 2,821 | 292,679 | ||||||
Aeva Technologies, Inc.(a)(b) | 1,604 | 14,051 | ||||||
Akoustis Technologies, Inc.(a)(b) | 3,037 | 29,398 | ||||||
Arlo Technologies, Inc.(a) | 5,525 | 33,758 | ||||||
Arrow Electronics, Inc.(a) | 5,196 | 616,090 | ||||||
Avnet, Inc. | 6,770 | 279,736 | ||||||
Badger Meter, Inc. | 2,223 | 224,590 | ||||||
Belden, Inc. | 3,031 | 148,519 | ||||||
Benchmark Electronics, Inc. | 2,367 | 62,489 | ||||||
Cognex Corp. | 12,197 | 1,102,731 | ||||||
Coherent, Inc.(a) | 1,768 | 434,822 | ||||||
CTS Corp. | 2,114 | 73,969 | ||||||
Daktronics, Inc.(a) | 2,403 | 14,682 | ||||||
ePlus, Inc.(a) | 834 | 77,112 | ||||||
Fabrinet(a) | 2,520 | 238,190 | ||||||
FARO Technologies, Inc.(a) | 1,527 | 111,303 | ||||||
Identiv, Inc.(a) | 1,309 | 21,311 | ||||||
II-VI, Inc.(a)(b) | 7,448 | 519,945 |
32 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Electronic Equipment, Instruments & Components (continued) | ||||||||
Insight Enterprises, Inc.(a) | 2,508 | $ | 251,753 | |||||
IPG Photonics Corp.(a) | 2,588 | 564,598 | ||||||
Iteris, Inc.(a)(b) | 2,835 | 17,662 | ||||||
Itron, Inc.(a) | 3,169 | 312,527 | ||||||
Jabil, Inc. | 10,419 | 620,347 | ||||||
Kimball Electronics, Inc.(a) | 2,633 | 53,687 | ||||||
Knowles Corp.(a) | 7,480 | 149,899 | ||||||
Littelfuse, Inc. | 1,754 | 466,547 | ||||||
Luna Innovations, Inc.(a) | 2,064 | 25,449 | ||||||
Methode Electronics, Inc. | 2,945 | 140,859 | ||||||
MicroVision, Inc.(a)(b) | 10,849 | 149,391 | ||||||
Napco Security Technologies, Inc.(a) | 950 | 33,583 | ||||||
National Instruments Corp. | 9,155 | 403,827 | ||||||
nLight, Inc.(a) | 2,780 | 96,438 | ||||||
Novanta, Inc.(a) | 2,384 | 334,737 | ||||||
OSI Systems, Inc.(a) | 1,088 | 108,854 | ||||||
Ouster, Inc.(a)(b) | 1,880 | 17,277 | ||||||
PAR Technology Corp.(a) | 2,004 | 122,344 | ||||||
PC Connection, Inc. | 673 | 32,008 | ||||||
Plexus Corp.(a) | 1,940 | 175,221 | ||||||
Rogers Corp.(a) | 1,269 | 241,871 | ||||||
Sanmina Corp.(a) | 4,377 | 168,164 | ||||||
ScanSource, Inc.(a) | 1,642 | 45,303 | ||||||
SYNNEX Corp. | 2,923 | 349,415 | ||||||
TTM Technologies, Inc.(a) | 7,047 | 98,588 | ||||||
Velodyne Lidar, Inc.(a)(b) | 4,595 | 36,806 | ||||||
Vishay Intertechnology, Inc. | 9,055 | 200,387 | ||||||
Vishay Precision Group, Inc.(a) | 1,349 | 49,009 | ||||||
Vontier Corp. | 12,256 | 396,482 | ||||||
|
| |||||||
9,974,814 | ||||||||
Energy Equipment & Services — 0.4% | ||||||||
Archrock, Inc. | 11,746 | 101,133 | ||||||
Aspen Aerogels, Inc.(a)(b) | 1,443 | 54,329 | ||||||
Bristow Group, Inc.(a) | 470 | 12,211 | ||||||
Cactus, Inc., Class A | 3,607 | 129,996 | ||||||
ChampionX Corp.(a) | 14,121 | 328,172 | ||||||
DMC Global, Inc.(a) | 1,199 | 52,480 | ||||||
Dril-Quip, Inc.(a) | 2,359 | 67,420 | ||||||
Frank’s International NV(a) | 11,062 | 30,420 | ||||||
FTS International, Inc., Class A(a) | 539 | 10,532 | ||||||
Helix Energy Solutions Group, Inc.(a) | 9,371 | 38,890 | ||||||
Helmerich & Payne, Inc. | 7,579 | 217,290 | ||||||
Liberty Oilfield Services, Inc., Class A(a) | 5,701 | 58,093 | ||||||
Nabors Industries Ltd.(a) | 479 | 41,917 | ||||||
National Energy Services Reunited Corp.(a) | 1,874 | 24,175 | ||||||
Newpark Resources, Inc.(a) | 5,916 | 19,109 | ||||||
NexTier Oilfield Solutions, Inc.(a) | 11,147 | 42,582 | ||||||
NOV, Inc.(a) | 29,347 | 405,282 | ||||||
Oceaneering International, Inc.(a) | 6,657 | 88,272 | ||||||
Oil States International, Inc.(a) | 4,122 | 23,330 | ||||||
Patterson-UTI Energy, Inc. | 12,933 | 103,723 | ||||||
ProPetro Holding Corp.(a) | 5,535 | 41,789 | ||||||
RPC, Inc.(a) | 4,756 | 19,975 | ||||||
Select Energy Services, Inc., Class A(a) | 3,726 | 22,170 | ||||||
Solaris Oilfield Infrastructure, Inc., Class A | 2,026 | 17,626 | ||||||
TETRA Technologies, Inc.(a) | 7,821 | 24,167 | ||||||
Tidewater, Inc.(a) | 2,717 | 30,756 | ||||||
U.S. Silica Holdings, Inc.(a) | 4,859 | 49,076 | ||||||
|
| |||||||
2,054,915 | ||||||||
Entertainment — 0.8% | ||||||||
AMC Entertainment Holdings, Inc., Class A(a)(b) | 28,775 | 1,065,251 |
Security | Shares | Value | ||||||
Entertainment (continued) | ||||||||
Chicken Soup For The Soul Entertainment, Inc.(a) | 734 | $ | 26,336 | |||||
Cinemark Holdings, Inc.(a) | 7,381 | 114,627 | ||||||
CuriosityStream, Inc.(a)(b) | 1,667 | 18,320 | ||||||
Eros STX Global Corp.(a) | 20,302 | 22,129 | ||||||
IMAX Corp.(a) | 4,735 | 76,423 | ||||||
Liberty Media Corp.-Liberty Braves, Class A(a) | 524 | 13,907 | ||||||
Liberty Media Corp.-Liberty Braves, Class C(a) | 2,493 | 65,940 | ||||||
Liberty Media Corp.-Liberty Formula One, Class A(a) | 1,688 | 69,985 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C(a) | 14,515 | 681,189 | ||||||
Lions Gate Entertainment Corp., Class A(a)(b) | 4,068 | 61,142 | ||||||
Lions Gate Entertainment Corp., Class B(a) | 7,698 | 102,845 | ||||||
LiveXLive Media, Inc.(a)(b) | 3,900 | 13,806 | ||||||
Madison Square Garden Entertainment Corp.(a) | 1,618 | 113,195 | ||||||
Madison Square Garden Sports Corp.(a) | 1,437 | 233,857 | ||||||
Marcus Corp.(a) | 1,514 | 24,330 | ||||||
Playtika Holding Corp.(a) | 5,212 | 115,863 | ||||||
Skillz, Inc.(a)(b) | 20,188 | 284,247 | ||||||
World Wrestling Entertainment, Inc., Class A | 3,038 | 150,016 | ||||||
Zynga, Inc., Class A(a)(b) | 71,288 | 720,009 | ||||||
|
| |||||||
3,973,417 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 7.8% | ||||||||
Acadia Realty Trust | 5,755 | 123,157 | ||||||
Agree Realty Corp. | 4,501 | 338,250 | ||||||
Alexander & Baldwin, Inc. | 6,312 | 126,366 | ||||||
Alexander’s, Inc. | 134 | 37,365 | ||||||
American Assets Trust, Inc. | 3,981 | 147,018 | ||||||
American Campus Communities, Inc. | 9,475 | 476,687 | ||||||
American Finance Trust, Inc. | 9,666 | 81,871 | ||||||
American Homes 4 Rent, Class A | 19,531 | 820,302 | ||||||
Americold Realty Trust | 17,909 | 695,765 | ||||||
Apartment Income REIT Corp. | 11,204 | 589,779 | ||||||
Apartment Investment and Management Co., Class A | 9,897 | 68,883 | ||||||
Apple Hospitality REIT, Inc. | 15,187 | 227,046 | ||||||
Armada Hoffler Properties, Inc. | 3,840 | 49,920 | ||||||
Ashford Hospitality Trust, Inc.(a) | 711 | 11,518 | ||||||
Braemar Hotels & Resorts, Inc.(a) | 2,829 | 14,428 | ||||||
Brandywine Realty Trust | 11,304 | 157,804 | ||||||
Brixmor Property Group, Inc. | 21,274 | 489,727 | ||||||
Broadstone Net Lease, Inc. | 9,626 | 250,469 | ||||||
BRT Apartments Corp. | 862 | 15,145 | ||||||
Camden Property Trust | 6,676 | 997,328 | ||||||
CareTrust REIT, Inc. | 5,738 | 138,401 | ||||||
Catchmark Timber Trust, Inc., Class A | 3,422 | 40,003 | ||||||
Centerspace | 867 | 78,030 | ||||||
Chatham Lodging Trust(a) | 5,191 | 63,745 | ||||||
City Office REIT, Inc. | 2,726 | 35,084 | ||||||
Clipper Realty, Inc. | 722 | 6,007 | ||||||
Columbia Property Trust, Inc. | 7,627 | 127,142 | ||||||
Community Healthcare Trust, Inc. | 2,048 | 102,052 | ||||||
CorePoint Lodging, Inc.(a) | 4,223 | 56,757 | ||||||
CoreSite Realty Corp. | 3,069 | 424,166 | ||||||
Corporate Office Properties Trust | 8,102 | 238,523 | ||||||
Cousins Properties, Inc. | 10,087 | 400,656 | ||||||
CTO Realty Growth, Inc. | 415 | 23,319 | ||||||
CubeSmart | 14,299 | 710,088 | ||||||
CyrusOne, Inc. | 8,698 | 619,906 | ||||||
DiamondRock Hospitality Co.(a) | 12,470 | 107,367 | ||||||
DigitalBridge Group, Inc.(a) | 35,857 | 249,565 | ||||||
Diversified Healthcare Trust | 15,842 | 61,784 | ||||||
Douglas Emmett, Inc. | 12,008 | 401,067 | ||||||
Easterly Government Properties, Inc. | 5,827 | 132,273 | ||||||
EastGroup Properties, Inc. | 2,803 | 493,945 |
S C H E D U L E O F I N V E S T M E N T S | 33 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
Empire State Realty Trust, Inc., Class A | 9,433 | $ | 107,819 | |||||
EPR Properties | 5,046 | 253,814 | ||||||
Equity Commonwealth | 7,935 | 208,611 | ||||||
Equity LifeStyle Properties, Inc. | 12,236 | 1,025,377 | ||||||
Essential Properties Realty Trust, Inc. | 7,948 | 236,850 | ||||||
Farmland Partners, Inc. | 1,772 | 22,327 | ||||||
Federal Realty Investment Trust | 5,509 | 647,473 | ||||||
First Industrial Realty Trust, Inc. | 9,060 | 496,307 | ||||||
Four Corners Property Trust, Inc. | 4,980 | 142,976 | ||||||
Franklin Street Properties Corp. | 6,638 | 34,650 | ||||||
Gaming and Leisure Properties, Inc. | 15,762 | 746,173 | ||||||
Geo Group, Inc. | 7,298 | 50,502 | ||||||
Getty Realty Corp. | 2,609 | 82,418 | ||||||
Gladstone Commercial Corp. | 3,405 | 78,928 | ||||||
Gladstone Land Corp. | 2,642 | 61,611 | ||||||
Global Medical REIT, Inc. | 5,068 | 78,858 | ||||||
Global Net Lease, Inc. | 7,630 | 140,926 | ||||||
Healthcare Realty Trust, Inc. | 10,235 | 326,292 | ||||||
Healthcare Trust of America, Inc., Class A | 15,597 | 445,918 | ||||||
Hersha Hospitality Trust(a) | 2,133 | 20,072 | ||||||
Highwoods Properties, Inc. | 7,363 | 351,141 | ||||||
Host Hotels & Resorts, Inc.(a) | 49,853 | 794,158 | ||||||
Hudson Pacific Properties, Inc. | 9,979 | 272,028 | ||||||
Independence Realty Trust, Inc. | 6,885 | 132,743 | ||||||
Indus Realty Trust, Inc. | 333 | 22,494 | ||||||
Industrial Logistics Properties Trust | 4,415 | 119,646 | ||||||
Innovative Industrial Properties, Inc. | 1,661 | 357,098 | ||||||
Iron Mountain, Inc. | 20,322 | 889,291 | ||||||
iStar, Inc. | 4,724 | 114,463 | ||||||
JBG SMITH Properties | 8,515 | 277,844 | ||||||
Kilroy Realty Corp. | 8,229 | 570,023 | ||||||
Kimco Realty Corp. | 29,444 | 628,041 | ||||||
Kite Realty Group Trust | 6,719 | 135,455 | ||||||
Lamar Advertising Co., Class A | 6,128 | 653,245 | ||||||
Lexington Realty Trust | 18,559 | 244,051 | ||||||
Life Storage, Inc. | 5,422 | 636,326 | ||||||
LTC Properties, Inc. | 3,093 | 117,070 | ||||||
Macerich Co. | 13,423 | 218,795 | ||||||
Mack-Cali Realty Corp. | 5,817 | 104,706 | ||||||
Medical Properties Trust, Inc. | 41,293 | 868,392 | ||||||
Monmouth Real Estate Investment Corp. | 7,849 | 149,445 | ||||||
National Health Investors, Inc. | 2,962 | 202,097 | ||||||
National Retail Properties, Inc. | 12,547 | 613,172 | ||||||
National Storage Affiliates Trust | 5,628 | 304,869 | ||||||
NETSTREIT Corp. | 2,560 | 66,432 | ||||||
New Senior Investment Group, Inc. | 5,636 | 51,964 | ||||||
NexPoint Residential Trust, Inc. | 1,450 | 85,477 | ||||||
Office Properties Income Trust | 3,225 | 93,460 | ||||||
Omega Healthcare Investors, Inc. | 16,905 | 613,313 | ||||||
One Liberty Properties, Inc. | 1,163 | 35,576 | ||||||
Outfront Media, Inc.(a) | 9,831 | 234,863 | ||||||
Paramount Group, Inc. | 14,766 | 144,116 | ||||||
Park Hotels & Resorts, Inc.(a) | 16,583 | 306,785 | ||||||
Pebblebrook Hotel Trust | 9,430 | 212,081 | ||||||
Physicians Realty Trust | 14,530 | 275,343 | ||||||
Piedmont Office Realty Trust, Inc., Class A | 9,445 | 179,644 | ||||||
Plymouth Industrial REIT, Inc. | 2,970 | 68,548 | ||||||
Postal Realty Trust, Inc., Class A | 763 | 14,665 | ||||||
PotlatchDeltic Corp. | 4,702 | 244,222 | ||||||
Preferred Apartment Communities, Inc., Class A | 3,343 | 35,235 | ||||||
PS Business Parks, Inc. | 1,510 | 232,042 | ||||||
QTS Realty Trust, Inc., Class A | 4,973 | 386,452 |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
Rayonier, Inc. | 10,040 | $ | 378,608 | |||||
Regency Centers Corp. | 12,058 | 788,714 | ||||||
Retail Opportunity Investments Corp. | 8,849 | 156,362 | ||||||
Retail Properties of America, Inc., Class A | 15,802 | 199,263 | ||||||
Retail Value, Inc. | 1,169 | 28,570 | ||||||
Rexford Industrial Realty, Inc. | 9,535 | 586,593 | ||||||
RLJ Lodging Trust | 12,107 | 173,735 | ||||||
RPT Realty | 5,411 | 68,936 | ||||||
Ryman Hospitality Properties, Inc.(a) | 3,947 | 302,735 | ||||||
Sabra Health Care REIT, Inc. | 15,794 | 293,610 | ||||||
Safehold, Inc.(b) | 1,169 | 105,584 | ||||||
Saul Centers, Inc. | 846 | 38,578 | ||||||
Seritage Growth Properties, Class A(a) | 2,386 | 37,866 | ||||||
Service Properties Trust | 10,815 | 120,371 | ||||||
SITE Centers Corp. | 12,688 | 201,232 | ||||||
SL Green Realty Corp. | 5,071 | 377,587 | ||||||
Spirit Realty Capital, Inc. | 8,044 | 403,970 | ||||||
STAG Industrial, Inc. | 10,868 | 449,066 | ||||||
STORE Capital Corp. | 17,523 | 634,157 | ||||||
Summit Hotel Properties, Inc.(a) | 9,510 | 85,685 | ||||||
Sunstone Hotel Investors, Inc.(a) | 15,889 | 183,359 | ||||||
Tanger Factory Outlet Centers, Inc. | 6,549 | 112,446 | ||||||
Terreno Realty Corp. | 4,785 | 327,103 | ||||||
UMH Properties, Inc. | 2,620 | 60,994 | ||||||
Uniti Group, Inc. | 13,283 | 155,544 | ||||||
Universal Health Realty Income Trust | 901 | 53,835 | ||||||
Urban Edge Properties | 7,624 | 144,856 | ||||||
Urstadt Biddle Properties, Inc., Class A | 2,994 | 57,096 | ||||||
VEREIT, Inc. | 16,362 | 801,247 | ||||||
VICI Properties, Inc. | 38,254 | 1,193,142 | ||||||
Vornado Realty Trust | 12,513 | 544,315 | ||||||
Washington Real Estate Investment Trust | 5,637 | 136,923 | ||||||
Weingarten Realty Investors | 8,860 | 285,203 | ||||||
Whitestone REIT | 2,346 | 20,762 | ||||||
Xenia Hotels & Resorts, Inc.(a) | 7,751 | 137,038 | ||||||
|
| |||||||
37,138,506 | ||||||||
Food & Staples Retailing — 0.7% | ||||||||
Albertsons Cos., Inc., Class A(b) | 10,570 | 228,312 | ||||||
Andersons, Inc. | 2,054 | 54,842 | ||||||
BJ’s Wholesale Club Holdings, Inc.(a) | 9,767 | 494,601 | ||||||
Casey’s General Stores, Inc. | 2,663 | 526,502 | ||||||
Chefs’ Warehouse, Inc.(a) | 2,080 | 60,154 | ||||||
Grocery Outlet Holding Corp.(a) | 6,684 | 221,374 | ||||||
HF Foods Group, Inc.(a)(b) | 2,066 | 10,681 | ||||||
Ingles Markets, Inc., Class A | 1,325 | 79,182 | ||||||
MedAvail Holdings, Inc.(a) | 687 | 5,798 | ||||||
Natural Grocers by Vitamin Cottage, Inc. | 452 | 5,053 | ||||||
Performance Food Group Co.(a) | 9,096 | 416,779 | ||||||
PriceSmart, Inc. | 1,874 | 168,173 | ||||||
Rite Aid Corp.(a)(b) | 3,625 | 55,100 | ||||||
SpartanNash Co. | 2,462 | 47,886 | ||||||
Sprouts Farmers Market, Inc.(a)(b) | 8,117 | 199,516 | ||||||
United Natural Foods, Inc.(a) | 3,811 | 126,220 | ||||||
US Foods Holding Corp.(a) | 15,991 | 549,131 | ||||||
Village Super Market, Inc., Class A | 548 | 12,357 | ||||||
Weis Markets, Inc. | 1,071 | 56,388 | ||||||
|
| |||||||
3,318,049 | ||||||||
Food Products — 1.4% | ||||||||
AppHarvest, Inc.(a)(b) | 3,116 | 37,143 | ||||||
B&G Foods, Inc. | 4,378 | 125,736 | ||||||
Beyond Meat, Inc.(a)(b) | 4,108 | 504,052 | ||||||
Bunge Ltd. | 9,845 | 764,267 |
34 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Food Products (continued) | ||||||||
Calavo Growers, Inc. | 1,244 | $ | 70,087 | |||||
Cal-Maine Foods, Inc.(b) | 2,349 | 81,957 | ||||||
Darling Ingredients, Inc.(a) | 11,567 | 798,933 | ||||||
Flowers Foods, Inc. | 13,981 | 329,392 | ||||||
Fresh Del Monte Produce, Inc. | 2,219 | 68,478 | ||||||
Freshpet, Inc.(a) | 2,829 | 414,307 | ||||||
Hain Celestial Group, Inc.(a) | 5,789 | 231,039 | ||||||
Hostess Brands, Inc.(a)(b) | 10,705 | 172,243 | ||||||
Ingredion, Inc. | 4,656 | 408,843 | ||||||
J&J Snack Foods Corp. | 1,016 | 167,010 | ||||||
John B Sanfilippo & Son, Inc. | 855 | 78,968 | ||||||
Laird Superfood, Inc.(a)(b) | 384 | 10,714 | ||||||
Lamb Weston Holdings, Inc. | 10,425 | 696,077 | ||||||
Lancaster Colony Corp. | 1,301 | 257,429 | ||||||
Landec Corp.(a) | 1,554 | 17,001 | ||||||
Limoneira Co. | 1,018 | 18,232 | ||||||
Mission Produce, Inc.(a) | 2,362 | 45,752 | ||||||
Pilgrim’s Pride Corp.(a) | 3,150 | 69,772 | ||||||
Post Holdings, Inc.(a)(b) | 4,297 | 439,755 | ||||||
Sanderson Farms, Inc. | 1,500 | 280,260 | ||||||
Seaboard Corp. | 16 | 65,760 | ||||||
Seneca Foods Corp., Class A(a) | 468 | 25,618 | ||||||
Simply Good Foods Co.(a) | 5,795 | 217,197 | ||||||
Tattooed Chef, Inc.(a)(b) | 3,302 | 65,115 | ||||||
Tootsie Roll Industries, Inc. | 1,118 | 38,448 | ||||||
TreeHouse Foods, Inc.(a) | 3,570 | 158,508 | ||||||
Utz Brands, Inc. | 4,070 | 92,145 | ||||||
Vital Farms, Inc.(a)(b) | 1,638 | 28,518 | ||||||
Whole Earth Brands, Inc.(a) | 2,367 | 30,440 | ||||||
|
| |||||||
6,809,196 | ||||||||
Gas Utilities — 0.6% | ||||||||
Brookfield Infrastructure Corp., Class A | 2,488 | 161,123 | ||||||
Chesapeake Utilities Corp. | 1,336 | 166,452 | ||||||
National Fuel Gas Co. | 6,166 | 317,117 | ||||||
New Jersey Resources Corp. | 6,561 | 252,730 | ||||||
Northwest Natural Holding Co. | 2,111 | 110,384 | ||||||
ONE Gas, Inc. | 3,888 | 286,857 | ||||||
South Jersey Industries, Inc. | 7,018 | 176,643 | ||||||
Southwest Gas Holdings, Inc. | 3,907 | 273,216 | ||||||
Spire, Inc. | 3,423 | 242,862 | ||||||
UGI Corp. | 14,829 | 681,986 | ||||||
|
| |||||||
2,669,370 | ||||||||
Health Care Equipment & Supplies — 2.6% | ||||||||
Accelerate Diagnostics, Inc.(a)(b) | 2,013 | 15,017 | ||||||
Accuray, Inc.(a)(b) | 6,238 | 25,576 | ||||||
Acutus Medical, Inc.(a) | 1,127 | 17,356 | ||||||
Alphatec Holdings, Inc.(a) | 6,123 | 90,253 | ||||||
AngioDynamics, Inc.(a) | 2,477 | 65,962 | ||||||
Apyx Medical Corp.(a) | 2,142 | 19,278 | ||||||
Asensus Surgical, Inc.(a)(b) | 15,224 | 35,624 | ||||||
Aspira Women’s Health, Inc.(a)(b) | 4,946 | 22,158 | ||||||
AtriCure, Inc.(a) | 3,049 | 257,518 | ||||||
Atrion Corp. | 88 | 55,347 | ||||||
Avanos Medical, Inc.(a) | 3,182 | 120,725 | ||||||
Axogen, Inc.(a) | 2,518 | 51,292 | ||||||
Axonics, Inc.(a) | 2,841 | 193,046 | ||||||
BioLife Solutions, Inc.(a) | 1,592 | 74,665 | ||||||
Bioventus, Inc., Class A(a) | 600 | 9,354 | ||||||
Butterfly Network, Inc.(a) | 2,118 | 22,747 | ||||||
Cardiovascular Systems, Inc.(a) | 3,160 | 127,316 | ||||||
Cerus Corp.(a)(b) | 15,908 | 80,176 |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
ClearPoint Neuro, Inc.(a) | 1,197 | $ | 26,609 | |||||
CONMED Corp. | 2,052 | 283,053 | ||||||
CryoLife, Inc.(a) | 2,506 | 67,662 | ||||||
CryoPort, Inc.(a) | 2,763 | 170,532 | ||||||
Cutera, Inc.(a) | 1,152 | 59,846 | ||||||
CytoSorbents Corp.(a) | 2,566 | 19,527 | ||||||
DarioHealth Corp.(a) | 859 | 12,748 | ||||||
Eargo, Inc.(a) | 1,255 | 45,180 | ||||||
Envista Holdings Corp.(a) | 11,657 | 502,184 | ||||||
Glaukos Corp.(a) | 3,198 | 163,098 | ||||||
Globus Medical, Inc., Class A(a) | 5,537 | 460,512 | ||||||
Haemonetics Corp.(a) | 3,423 | 208,084 | ||||||
Heska Corp.(a) | 712 | 171,378 | ||||||
Hill-Rom Holdings, Inc. | 4,736 | 655,747 | ||||||
ICU Medical, Inc.(a) | 1,355 | 275,458 | ||||||
Inari Medical, Inc.(a) | 2,435 | 218,639 | ||||||
Inogen, Inc.(a) | 1,307 | 104,259 | ||||||
Integer Holdings Corp.(a) | 2,226 | 217,903 | ||||||
Integra LifeSciences Holdings Corp.(a) | 5,035 | 364,484 | ||||||
Intersect ENT, Inc.(a) | 2,296 | 53,612 | ||||||
Invacare Corp.(a) | 5,373 | 38,847 | ||||||
iRadimed Corp.(a) | 385 | 12,959 | ||||||
iRhythm Technologies, Inc.(a) | 2,016 | 103,058 | ||||||
Lantheus Holdings, Inc.(a) | 5,316 | 139,120 | ||||||
LeMaitre Vascular, Inc. | 1,643 | 89,478 | ||||||
LivaNova PLC(a) | 3,347 | 288,846 | ||||||
Masimo Corp.(a) | 3,553 | 967,802 | ||||||
Meridian Bioscience, Inc.(a) | 2,898 | 59,409 | ||||||
Merit Medical Systems, Inc.(a) | 3,699 | 259,263 | ||||||
Mesa Laboratories, Inc. | 330 | 97,188 | ||||||
Misonix, Inc.(a) | 828 | 21,975 | ||||||
Natus Medical, Inc.(a) | 3,168 | 84,586 | ||||||
Neogen Corp.(a) | 7,456 | 324,783 | ||||||
Neuronetics, Inc.(a) | 1,609 | 21,335 | ||||||
NeuroPace, Inc.(a) | 410 | 8,733 | ||||||
Nevro Corp.(a) | 2,393 | 370,915 | ||||||
NuVasive, Inc.(a) | 3,890 | 248,765 | ||||||
OraSure Technologies, Inc.(a) | 4,505 | 53,114 | ||||||
Ortho Clinical Diagnostics Holdings PLC(a) | 5,996 | 134,730 | ||||||
Orthofix Medical, Inc.(a) | 1,696 | 67,399 | ||||||
OrthoPediatrics Corp.(a) | 930 | 58,441 | ||||||
Outset Medical, Inc.(a) | 3,698 | 151,470 | ||||||
PAVmed, Inc.(a) | 4,402 | 30,242 | ||||||
Penumbra, Inc.(a) | 2,407 | 640,816 | ||||||
Pulmonx Corp.(a) | 2,238 | 88,759 | ||||||
Pulse Biosciences, Inc.(a) | 886 | 18,163 | ||||||
Quidel Corp.(a) | 2,729 | 386,072 | ||||||
Quotient Ltd.(a) | 5,519 | 18,820 | ||||||
Retractable Technologies, Inc.(a)(b) | 1,180 | 13,889 | ||||||
SeaSpine Holdings Corp.(a) | 2,063 | 40,414 | ||||||
Senseonics Holdings, Inc.(a)(b) | 27,179 | 83,439 | ||||||
Shockwave Medical, Inc.(a) | 2,449 | 445,718 | ||||||
SI-BONE, Inc.(a) | 2,887 | 87,592 | ||||||
Sientra, Inc.(a) | 3,867 | 31,903 | ||||||
Silk Road Medical, Inc.(a) | 2,209 | 110,848 | ||||||
Soliton, Inc.(a) | 617 | 13,531 | ||||||
STAAR Surgical Co.(a) | 3,382 | 432,625 | ||||||
Stereotaxis, Inc.(a) | 3,223 | 29,361 | ||||||
Surmodics, Inc.(a) | 1,320 | 72,745 | ||||||
Tactile Systems Technology, Inc.(a) | 1,751 | 85,764 | ||||||
Talis Biomedical Corp.(a) | 936 | 9,641 | ||||||
Tandem Diabetes Care, Inc.(a) | 4,246 | 461,413 |
S C H E D U L E O F I N V E S T M E N T S | 35 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
TransMedics Group, Inc.(a) | 1,708 | $ | 48,712 | |||||
Treace Medical Concepts, Inc.(a) | 689 | 20,849 | ||||||
Utah Medical Products, Inc. | 201 | 17,969 | ||||||
Vapotherm, Inc.(a) | 1,488 | 38,480 | ||||||
Varex Imaging Corp.(a) | 2,519 | 68,769 | ||||||
ViewRay, Inc.(a) | 8,895 | 59,063 | ||||||
Zynex, Inc.(a)(b) | 1,149 | 15,960 | ||||||
|
| |||||||
12,337,698 | ||||||||
Health Care Providers & Services — 2.5% | ||||||||
1Life Healthcare, Inc.(a) | 8,241 | 222,837 | ||||||
Acadia Healthcare Co., Inc.(a) | 6,454 | 398,341 | ||||||
Accolade, Inc.(a) | 3,663 | 171,465 | ||||||
AdaptHealth Corp.(a) | 5,364 | 120,100 | ||||||
Addus HomeCare Corp.(a) | 1,294 | 112,306 | ||||||
Agiliti, Inc.(a) | 1,417 | 27,759 | ||||||
Agilon Health, Inc.(a)(b) | 3,931 | 144,621 | ||||||
Alignment Healthcare, Inc.(a) | 1,625 | 33,849 | ||||||
Amedisys, Inc.(a) | 2,299 | 599,165 | ||||||
AMN Healthcare Services, Inc.(a) | 3,431 | 345,021 | ||||||
Apollo Medical Holdings, Inc.(a) | 2,694 | 238,069 | ||||||
Apria, Inc.(a) | 564 | 17,783 | ||||||
Aveanna Healthcare Holdings, Inc.(a) | 2,434 | 25,168 | ||||||
Biodesix, Inc.(a) | 817 | 7,672 | ||||||
Brookdale Senior Living, Inc.(a) | 12,238 | 92,030 | ||||||
Castle Biosciences, Inc.(a) | 1,462 | 102,121 | ||||||
Chemed Corp. | 1,110 | 528,382 | ||||||
Community Health Systems, Inc.(a) | 8,439 | 112,407 | ||||||
CorVel Corp.(a) | 764 | 107,586 | ||||||
Covetrus, Inc.(a) | 7,057 | 179,671 | ||||||
Cross Country Healthcare, Inc.(a) | 2,424 | 39,802 | ||||||
Encompass Health Corp. | 7,060 | 587,745 | ||||||
Ensign Group, Inc. | 3,688 | 313,738 | ||||||
Exagen, Inc.(a) | 640 | 7,629 | ||||||
Fulgent Genetics, Inc.(a) | 1,387 | 127,951 | ||||||
Guardant Health, Inc.(a) | 6,455 | 708,759 | ||||||
Hanger, Inc.(a) | 2,498 | 61,301 | ||||||
HealthEquity, Inc.(a) | 5,875 | 434,632 | ||||||
Henry Schein, Inc.(a) | 10,004 | 801,821 | ||||||
InfuSystem Holdings, Inc.(a) | 1,139 | 20,787 | ||||||
Innovage Holding Corp.(a) | 1,143 | 19,271 | ||||||
Joint Corp.(a) | 934 | 73,777 | ||||||
LHC Group, Inc.(a) | 2,181 | 469,308 | ||||||
Magellan Health, Inc.(a) | 1,677 | 158,175 | ||||||
MEDNAX, Inc.(a) | 5,210 | 151,715 | ||||||
ModivCare, Inc.(a) | 845 | 143,650 | ||||||
Molina Healthcare, Inc.(a) | 4,081 | 1,114,154 | ||||||
National HealthCare Corp. | 886 | 68,798 | ||||||
National Research Corp. | 840 | 44,335 | ||||||
Ontrak, Inc.(a)(b) | 623 | 16,827 | ||||||
Option Care Health, Inc.(a) | 7,480 | 154,986 | ||||||
Owens & Minor, Inc. | 4,947 | 228,799 | ||||||
Patterson Cos., Inc. | 5,879 | 183,013 | ||||||
Pennant Group, Inc.(a) | 1,696 | 58,037 | ||||||
PetIQ, Inc.(a) | 1,720 | 60,819 | ||||||
Premier, Inc., Class A | 8,286 | 295,313 | ||||||
Privia Health Group, Inc.(a) | 1,259 | 52,249 | ||||||
Progyny, Inc.(a) | 4,480 | 249,491 | ||||||
R1 RCM, Inc.(a) | 8,882 | 190,164 | ||||||
RadNet, Inc.(a) | 2,925 | 107,464 | ||||||
Select Medical Holdings Corp. | 7,471 | 294,731 | ||||||
Sharps Compliance Corp.(a)(b) | 815 | 8,134 |
Security | Shares | Value | ||||||
Health Care Providers & Services (continued) | ||||||||
Signify Health, Inc., Class A(a)(b) | 1,467 | $ | 38,611 | |||||
SOC Telemed, Inc.(a) | 2,538 | 11,649 | ||||||
Surgery Partners, Inc.(a) | 2,155 | 117,577 | ||||||
Tenet Healthcare Corp.(a) | 7,610 | 546,702 | ||||||
Tivity Health, Inc.(a) | 2,881 | 72,255 | ||||||
Triple-S Management Corp., Class B(a) | 1,675 | 40,753 | ||||||
U.S. Physical Therapy, Inc. | 1,014 | 119,814 | ||||||
Viemed Healthcare, Inc.(a) | 2,309 | 16,071 | ||||||
|
| |||||||
11,797,160 | ||||||||
Health Care Technology — 0.7% | ||||||||
Allscripts Healthcare Solutions, Inc.(a) | 10,906 | 186,274 | ||||||
American Well Corp., Class A(a)(b) | 13,315 | 155,120 | ||||||
Castlight Health, Inc., Class B(a) | 7,423 | 17,296 | ||||||
Certara, Inc.(a) | 2,245 | 61,086 | ||||||
Change Healthcare, Inc.(a) | 17,974 | 390,216 | ||||||
Computer Programs & Systems, Inc. | 1,686 | 53,227 | ||||||
Evolent Health, Inc., Class A(a) | 5,151 | 118,164 | ||||||
Forian, Inc.(a) | 1,131 | 12,079 | ||||||
Health Catalyst, Inc.(a)(b) | 3,283 | 190,611 | ||||||
HealthStream, Inc.(a) | 1,675 | 48,927 | ||||||
Icad, Inc.(a) | 1,423 | 20,861 | ||||||
Inovalon Holdings, Inc., Class A(a) | 5,129 | 194,286 | ||||||
Inspire Medical Systems, Inc.(a) | 1,961 | 359,177 | ||||||
Multiplan Corp.(a)(b) | 27,157 | 218,614 | ||||||
NantHealth, Inc.(a)(b) | 1,522 | 3,044 | ||||||
NextGen Healthcare, Inc.(a) | 5,201 | 84,360 | ||||||
Omnicell, Inc.(a) | 2,915 | 427,047 | ||||||
OptimizeRx Corp.(a) | 1,095 | 60,521 | ||||||
Phreesia, Inc.(a) | 2,814 | 192,337 | ||||||
Schrodinger, Inc./United States(a)(b) | 3,425 | 231,770 | ||||||
Simulations Plus, Inc. | 1,015 | 47,898 | ||||||
Tabula Rasa HealthCare, Inc.(a) | 1,489 | 63,967 | ||||||
Vocera Communications, Inc.(a)(b) | 2,272 | 95,333 | ||||||
|
| |||||||
3,232,215 | ||||||||
Hotels, Restaurants & Leisure — 2.3% | ||||||||
Accel Entertainment, Inc.(a) | 3,468 | 38,356 | ||||||
Aramark | 16,642 | 584,634 | ||||||
Bally’s Corp.(a) | 2,229 | 109,778 | ||||||
Biglari Holdings, Inc., Class B(a) | 53 | 8,716 | ||||||
BJ’s Restaurants, Inc.(a) | 2,100 | 85,218 | ||||||
Bloomin’ Brands, Inc.(a) | 6,029 | 151,509 | ||||||
Bluegreen Vacations Holding Corp.(a) | 727 | 12,584 | ||||||
Boyd Gaming Corp.(a) | 6,160 | 351,120 | ||||||
Brinker International, Inc.(a) | 3,077 | 167,204 | ||||||
Carrols Restaurant Group, Inc.(a) | 2,399 | 11,779 | ||||||
Century Casinos, Inc.(a) | 1,954 | 21,904 | ||||||
Cheesecake Factory, Inc.(a) | 3,244 | 146,824 | ||||||
Choice Hotels International, Inc. | 2,336 | 280,086 | ||||||
Churchill Downs, Inc. | 2,670 | 496,086 | ||||||
Chuy’s Holdings, Inc.(a) | 1,332 | 43,956 | ||||||
Cracker Barrel Old Country Store, Inc. | 1,604 | 218,433 | ||||||
Dave & Buster’s Entertainment, Inc.(a) | 2,971 | 98,875 | ||||||
Del Taco Restaurants, Inc. | 4,569 | 38,882 | ||||||
Denny’s Corp.(a)(b) | 5,418 | 76,231 | ||||||
Dine Brands Global, Inc.(a) | 1,073 | 83,125 | ||||||
Drive Shack, Inc.(a) | 5,256 | 13,245 | ||||||
El Pollo Loco Holdings, Inc.(a) | 1,165 | 21,681 | ||||||
Esports Technologies, Inc.(a)(b) | 209 | 4,753 | ||||||
Everi Holdings, Inc.(a) | 5,501 | 124,818 | ||||||
Fiesta Restaurant Group, Inc.(a) | 1,171 | 15,680 | ||||||
Full House Resorts, Inc.(a) | 2,082 | 17,218 |
36 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
GAN Ltd.(a)(b) | 2,624 | $ | 40,147 | |||||
Golden Entertainment, Inc.(a) | 1,123 | 51,108 | ||||||
Golden Nugget Online Gaming, Inc.(a) | 2,050 | 23,493 | ||||||
Hall of Fame Resort & Entertainment Co.(a) | 3,525 | 10,434 | ||||||
Hilton Grand Vacations, Inc.(a) | 6,142 | 249,795 | ||||||
Hyatt Hotels Corp., Class A(a) | 2,686 | 214,531 | ||||||
International Game Technology PLC(a) | 6,811 | 127,706 | ||||||
Jack in the Box, Inc. | 1,561 | 169,931 | ||||||
Kura Sushi USA, Inc., Class A(a) | 244 | 11,863 | ||||||
Lindblad Expeditions Holdings, Inc.(a) | 1,903 | 26,052 | ||||||
Marriott Vacations Worldwide Corp.(a) | 3,080 | 453,900 | ||||||
Monarch Casino & Resort, Inc.(a)(b) | 1,220 | 77,897 | ||||||
Nathan’s Famous, Inc. | 139 | 8,931 | ||||||
NEOGAMES SA(a) | 376 | 18,142 | ||||||
Noodles & Co.(a)(b) | 4,594 | 54,852 | ||||||
Norwegian Cruise Line Holdings Ltd.(a)(b) | 26,671 | 640,904 | ||||||
ONE Group Hospitality, Inc.(a) | 1,228 | 11,236 | ||||||
Papa John’s International, Inc. | 2,235 | 255,058 | ||||||
Penn National Gaming, Inc.(a)(b) | 11,176 | 764,215 | ||||||
Planet Fitness, Inc., Class A(a) | 5,756 | 433,024 | ||||||
PlayAGS, Inc.(a) | 1,936 | 15,023 | ||||||
RCI Hospitality Holdings, Inc. | 587 | 36,840 | ||||||
Red Robin Gourmet Burgers, Inc.(a) | 1,082 | 28,381 | ||||||
Red Rock Resorts, Inc., Class A(a) | 4,177 | 164,574 | ||||||
Rush Street Interactive, Inc.(a)(b) | 3,370 | 33,195 | ||||||
Ruth’s Hospitality Group, Inc.(a) | 2,288 | 45,691 | ||||||
Scientific Games Corp., Class A(a) | 6,911 | 426,478 | ||||||
SeaWorld Entertainment, Inc.(a) | 3,796 | 179,968 | ||||||
Shake Shack, Inc., Class A(a) | 2,533 | 254,668 | ||||||
Six Flags Entertainment Corp.(a) | 5,302 | 220,298 | ||||||
Target Hospitality Corp.(a) | 1,352 | 4,840 | ||||||
Texas Roadhouse, Inc. | 4,844 | 446,472 | ||||||
Travel + Leisure Co. | 6,345 | 328,671 | ||||||
Vail Resorts, Inc.(a) | 2,862 | 873,482 | ||||||
Wendy’s Co. | 12,085 | 280,493 | ||||||
Wingstop, Inc. | 2,151 | 368,488 | ||||||
Wyndham Hotels & Resorts, Inc. | 6,321 | 455,491 | ||||||
|
| |||||||
11,028,967 | ||||||||
Household Durables — 1.8% | ||||||||
Aterian, Inc.(a) | 1,292 | 11,667 | ||||||
Bassett Furniture Industries, Inc. | 589 | 13,417 | ||||||
Beazer Homes USA, Inc.(a) | 1,948 | 35,570 | ||||||
Casper Sleep, Inc.(a) | 2,035 | 14,062 | ||||||
Cavco Industries, Inc.(a) | 617 | 144,995 | ||||||
Century Communities, Inc. | 2,050 | 142,373 | ||||||
Ethan Allen Interiors, Inc. | 1,559 | 37,057 | ||||||
Flexsteel Industries, Inc. | 414 | 14,283 | ||||||
GoPro, Inc., Class A(a) | 8,592 | 87,982 | ||||||
Green Brick Partners, Inc.(a) | 2,031 | 50,917 | ||||||
Hamilton Beach Brands Holding Co., Class A | 434 | 8,111 | ||||||
Helen of Troy Ltd.(a)(b) | 1,749 | 390,709 | ||||||
Hooker Furniture Corp. | 737 | 24,461 | ||||||
Hovnanian Enterprises, Inc., Class A(a) | 330 | 34,449 | ||||||
Installed Building Products, Inc. | 1,610 | 193,200 | ||||||
iRobot Corp.(a) | 1,901 | 166,337 | ||||||
KB Home | 6,036 | 256,168 | ||||||
La-Z-Boy, Inc. | 3,559 | 119,511 | ||||||
Legacy Housing Corp.(a) | 600 | 10,584 | ||||||
Leggett & Platt, Inc. | 9,625 | 462,289 | ||||||
LGI Homes, Inc.(a)(b) | 1,635 | 279,421 | ||||||
Lifetime Brands, Inc. | 937 | 14,121 |
Security | Shares | Value | ||||||
Household Durables (continued) | ||||||||
Lovesac Co.(a)(b) | 838 | $ | 50,867 | |||||
M/I Homes, Inc.(a) | 1,873 | 121,202 | ||||||
MDC Holdings, Inc. | 4,235 | 225,810 | ||||||
Meritage Homes Corp.(a) | 2,742 | 297,726 | ||||||
Mohawk Industries, Inc.(a) | 4,043 | 787,981 | ||||||
Newell Brands, Inc. | 27,217 | 673,621 | ||||||
PulteGroup, Inc. | 18,545 | 1,017,564 | ||||||
Purple Innovation, Inc.(a) | 3,472 | 91,452 | ||||||
Skyline Champion Corp.(a) | 3,984 | 224,698 | ||||||
Sonos, Inc.(a) | 8,174 | 272,848 | ||||||
Taylor Morrison Home Corp.(a) | 9,673 | 259,430 | ||||||
Tempur Sealy International, Inc. | 13,129 | 568,092 | ||||||
Toll Brothers, Inc. | 7,751 | 459,402 | ||||||
TopBuild Corp.(a) | 2,362 | 478,754 | ||||||
Tri Pointe Homes, Inc.(a) | 8,644 | 208,493 | ||||||
Tupperware Brands Corp.(a) | 3,418 | 71,402 | ||||||
Universal Electronics, Inc.(a) | 894 | 41,786 | ||||||
VOXX International Corp.(a) | 1,092 | 12,471 | ||||||
Vuzix Corp.(a)(b) | 3,837 | 56,788 | ||||||
|
| |||||||
8,432,071 | ||||||||
Household Products — 0.2% | ||||||||
Central Garden & Pet Co.(a)(b) | 788 | 38,053 | ||||||
Central Garden & Pet Co., Class A(a) | 2,682 | 116,157 | ||||||
Energizer Holdings, Inc. | 4,676 | 200,367 | ||||||
Oil-Dri Corp. of America | 264 | 9,390 | ||||||
Reynolds Consumer Products Inc. | 3,706 | 105,436 | ||||||
Spectrum Brands Holdings, Inc. | 2,858 | 249,646 | ||||||
WD-40 Co. | 1,024 | 248,822 | ||||||
|
| |||||||
967,871 | ||||||||
Independent Power and Renewable Electricity Producers — 0.4% | ||||||||
Brookfield Renewable Corp., Class A | 9,281 | 393,886 | ||||||
Clearway Energy, Inc., Class A | 2,460 | 66,297 | ||||||
Clearway Energy, Inc., Class C | 5,470 | 156,880 | ||||||
Ormat Technologies, Inc. | 3,075 | 214,450 | ||||||
Sunnova Energy International, Inc.(a)(b) | 5,820 | 221,742 | ||||||
Vistra Corp. | 34,303 | 656,902 | ||||||
|
| |||||||
1,710,157 | ||||||||
Industrial Conglomerates — 0.0% | ||||||||
Raven Industries, Inc. | 2,439 | 142,072 | ||||||
|
| |||||||
Insurance — 3.1% | ||||||||
Alleghany Corp.(a) | 981 | 650,501 | ||||||
Ambac Financial Group, Inc.(a) | 3,051 | 44,301 | ||||||
American Equity Investment Life Holding Co. | 5,796 | 185,994 | ||||||
American Financial Group, Inc. | 4,891 | 618,663 | ||||||
American National Group, Inc. | 498 | 82,160 | ||||||
AMERISAFE, Inc. | 1,320 | 75,504 | ||||||
Argo Group International Holdings Ltd. | 2,546 | 132,723 | ||||||
Assurant, Inc. | 4,296 | 677,952 | ||||||
Assured Guaranty Ltd. | 4,734 | 226,333 | ||||||
Athene Holding Ltd., Class A(a) | 8,312 | 537,121 | ||||||
Axis Capital Holdings Ltd. | 5,812 | 295,656 | ||||||
Brighthouse Financial, Inc.(a) | 6,527 | 281,053 | ||||||
Brown & Brown, Inc. | 16,719 | 909,514 | ||||||
BRP Group, Inc., Class A(a) | 3,048 | 83,088 | ||||||
Citizens, Inc.(a) | 3,245 | 17,393 | ||||||
CNO Financial Group, Inc. | 9,138 | 208,712 | ||||||
Crawford & Co., Class A | 1,123 | 11,870 | ||||||
Donegal Group, Inc., Class A | 1,267 | 19,600 | ||||||
eHealth, Inc.(a) | 1,691 | 87,949 | ||||||
Employers Holdings, Inc. | 1,304 | 54,142 |
S C H E D U L E O F I N V E S T M E N T S | 37 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Insurance (continued) | ||||||||
Enstar Group Ltd.(a) | 1,018 | $ | 261,646 | |||||
Erie Indemnity Co., Class A | 1,720 | 318,011 | ||||||
Everest Re Group Ltd. | 2,860 | 723,094 | ||||||
First American Financial Corp. | 7,266 | 489,074 | ||||||
Genworth Financial, Inc., Class A(a) | 33,748 | 112,718 | ||||||
Globe Life, Inc. | 7,259 | 675,885 | ||||||
GoHealth, Inc., Class A(a) | 3,145 | 27,676 | ||||||
Goosehead Insurance, Inc., Class A | 1,204 | 144,709 | ||||||
Greenlight Capital Re Ltd., Class A(a) | 2,446 | 21,525 | ||||||
Hanover Insurance Group, Inc. | 2,519 | 342,332 | ||||||
HCI Group, Inc. | 376 | 37,780 | ||||||
Heritage Insurance Holdings, Inc. | 1,645 | 12,074 | ||||||
Horace Mann Educators Corp. | 2,534 | 100,879 | ||||||
Independence Holding Co. | 253 | 11,319 | ||||||
Investors Title Co. | 73 | 12,157 | ||||||
James River Group Holdings Ltd. | 2,003 | 72,869 | ||||||
Kemper Corp. | 4,501 | 297,111 | ||||||
Kinsale Capital Group, Inc. | 1,464 | 261,536 | ||||||
Lemonade, Inc.(a)(b) | 2,883 | 250,994 | ||||||
Maiden Holdings Ltd.(a) | 4,289 | 14,497 | ||||||
MBIA, Inc.(a)(b) | 2,986 | 38,967 | ||||||
Mercury General Corp. | 2,120 | 128,960 | ||||||
MetroMile, Inc.(a)(b) | 2,375 | 16,839 | ||||||
National Western Life Group, Inc., Class A | 157 | 32,639 | ||||||
NI Holdings, Inc.(a)(b) | 788 | 15,579 | ||||||
Old Republic International Corp. | 20,726 | 511,103 | ||||||
Palomar Holdings, Inc.(a) | 1,681 | 136,884 | ||||||
Primerica, Inc. | 2,699 | 394,648 | ||||||
ProAssurance Corp. | 2,856 | 57,920 | ||||||
ProSight Global, Inc.(a)(b) | 486 | 6,201 | ||||||
Reinsurance Group of America, Inc. | 4,872 | 536,797 | ||||||
RenaissanceRe Holdings Ltd. | 3,343 | 510,443 | ||||||
RLI Corp. | 2,729 | 295,769 | ||||||
Safety Insurance Group, Inc. | 854 | 65,433 | ||||||
Selective Insurance Group, Inc. | 4,323 | 351,676 | ||||||
Selectquote, Inc.(a) | 9,148 | 162,834 | ||||||
SiriusPoint Ltd.(a)(b) | 8,526 | 83,555 | ||||||
State Auto Financial Corp. | 1,225 | 61,250 | ||||||
Stewart Information Services Corp. | 1,624 | 95,832 | ||||||
Tiptree, Inc. | 1,526 | 14,665 | ||||||
Trean Insurance Group, Inc.(a) | 1,099 | 14,825 | ||||||
Trupanion, Inc.(a) | 2,698 | 310,324 | ||||||
United Fire Group, Inc. | 1,302 | 32,446 | ||||||
United Insurance Holdings Corp. | 1,333 | 5,839 | ||||||
Universal Insurance Holdings, Inc. | 1,866 | 26,423 | ||||||
Unum Group | 14,833 | 406,424 | ||||||
W.R. Berkley Corp. | 9,892 | 723,798 | ||||||
White Mountains Insurance Group Ltd. | 204 | 230,840 | ||||||
|
| |||||||
14,657,028 | ||||||||
Interactive Media & Services(a) — 0.3% | ||||||||
Cargurus, Inc. | 6,335 | 181,181 | ||||||
Cars.com, Inc. | 4,406 | 53,225 | ||||||
Eventbrite, Inc., Class A | 5,198 | 92,368 | ||||||
EverQuote, Inc., Class A | 1,991 | 60,088 | ||||||
fuboTV, Inc. | 8,976 | 233,735 | ||||||
Liberty TripAdvisor Holdings, Inc., Class A | 5,186 | 21,677 | ||||||
MediaAlpha, Inc., Class A | 1,382 | 46,159 | ||||||
QuinStreet, Inc. | 3,339 | 61,237 | ||||||
TripAdvisor, Inc. | 6,744 | 255,935 |
Security | Shares | Value | ||||||
Interactive Media & Services (continued) | ||||||||
TrueCar, Inc. | 6,796 | $ | 35,747 | |||||
Vimeo, Inc. | 8,621 | 386,221 | ||||||
Yelp, Inc. | 5,279 | 197,435 | ||||||
|
| |||||||
1,625,008 | ||||||||
Internet & Direct Marketing Retail — 0.4% | ||||||||
1-800-Flowers.com, Inc., Class A(a)(b) | 1,767 | 53,894 | ||||||
CarParts.com, Inc.(a) | 3,123 | 54,996 | ||||||
Duluth Holdings, Inc., Class B(a)(b) | 688 | 10,299 | ||||||
Groupon, Inc.(a) | 1,573 | 57,210 | ||||||
Lands’ End, Inc.(a)(b) | 952 | 36,490 | ||||||
Liquidity Services, Inc.(a) | 1,697 | 33,668 | ||||||
Overstock.com, Inc.(a) | 3,251 | 226,400 | ||||||
PetMed Express, Inc. | 1,344 | 42,188 | ||||||
Porch Group, Inc.(a) | 1,031 | 19,104 | ||||||
Quotient Technology, Inc.(a) | 5,899 | 64,063 | ||||||
Qurate Retail, Inc., Series A | 27,303 | 323,814 | ||||||
RealReal, Inc.(a)(b) | 5,431 | 89,666 | ||||||
Revolve Group, Inc.(a) | 2,432 | 169,292 | ||||||
Shutterstock, Inc. | 1,594 | 172,933 | ||||||
Stamps.com, Inc.(a) | 1,283 | 419,233 | ||||||
Stitch Fix, Inc., Class A(a) | 4,020 | 216,758 | ||||||
|
| |||||||
1,990,008 | ||||||||
IT Services — 2.5% | ||||||||
Alliance Data Systems Corp. | 3,393 | 316,397 | ||||||
Amdocs Ltd. | 9,211 | 710,260 | ||||||
BigCommerce Holdings, Inc., Series-1(a) | 3,188 | 206,455 | ||||||
BM Technologies, Inc.(a) | 311 | 3,119 | ||||||
Brightcove, Inc.(a) | 2,788 | 31,978 | ||||||
Cantaloupe, Inc.(a) | 3,765 | 38,930 | ||||||
Cass Information Systems, Inc. | 1,444 | 63,666 | ||||||
Concentrix Corp.(a) | 2,904 | 475,472 | ||||||
Conduent, Inc.(a) | 11,148 | 74,803 | ||||||
CSG Systems International, Inc. | 2,107 | 95,574 | ||||||
DigitalOcean Holdings, Inc.(a)(b) | 831 | 42,797 | ||||||
DXC Technology Co.(a) | 18,240 | 729,235 | ||||||
Euronet Worldwide, Inc.(a) | 3,647 | 520,865 | ||||||
EVERTEC, Inc. | 4,446 | 194,290 | ||||||
Evo Payments, Inc., Class A(a)(b) | 3,092 | 90,286 | ||||||
ExlService Holdings, Inc.(a) | 2,348 | 265,841 | ||||||
Fastly, Inc., Class A(a)(b) | 7,707 | 370,476 | ||||||
Genpact Ltd. | 13,156 | 655,300 | ||||||
Globant SA(a) | 2,794 | 668,213 | ||||||
GreenBox POS(a)(b) | 1,122 | 9,907 | ||||||
GreenSky, Inc., Class A(a) | 4,925 | 32,357 | ||||||
Grid Dynamics Holdings, Inc.(a) | 2,132 | 44,879 | ||||||
Hackett Group, Inc. | 2,828 | 50,678 | ||||||
I3 Verticals, Inc., Class A(a) | 1,419 | 45,294 | ||||||
IBEX Holdings Ltd.(a)(b) | 349 | 7,200 | ||||||
International Money Express, Inc.(a) | 2,133 | 34,533 | ||||||
Jack Henry & Associates, Inc. | 5,247 | 913,450 | ||||||
Limelight Networks, Inc.(a) | 8,726 | 24,520 | ||||||
LiveRamp Holdings, Inc.(a) | 4,449 | 178,005 | ||||||
MAXIMUS, Inc. | 4,387 | 390,443 | ||||||
MoneyGram International, Inc.(a) | 5,104 | 52,775 | ||||||
MongoDB, Inc.(a) | 3,775 | 1,354,923 | ||||||
Paya Holdings, Inc.(a) | 5,252 | 60,346 | ||||||
Paysafe Ltd.(a)(b) | 21,184 | 228,575 | ||||||
Perficient, Inc.(a) | 2,392 | 225,542 | ||||||
Priority Technology Holdings, Inc.(a) | 789 | 4,829 |
38 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
Rackspace Technology, Inc.(a)(b) | 3,500 | $ | 62,125 | |||||
Repay Holdings Corp.(a) | 6,248 | 155,638 | ||||||
Sabre Corp.(a) | 23,708 | 279,517 | ||||||
Shift4 Payments, Inc., Class A(a) | 3,195 | 284,962 | ||||||
SolarWinds Corp.(a) | 4,854 | 54,559 | ||||||
StarTek, Inc.(a) | 1,271 | 8,922 | ||||||
Switch, Inc., Class A | 7,791 | 160,962 | ||||||
Sykes Enterprises, Inc.(a) | 2,600 | 139,516 | ||||||
TTEC Holdings, Inc. | 1,229 | 128,431 | ||||||
Tucows, Inc., Class A(a) | 596 | 46,345 | ||||||
Unisys Corp.(a) | 4,498 | 100,530 | ||||||
Verra Mobility Corp.(a) | 8,829 | 135,172 | ||||||
Western Union Co. | 28,936 | 671,605 | ||||||
WEX, Inc.(a)(b) | 3,226 | 612,069 | ||||||
|
| |||||||
12,052,566 | ||||||||
Leisure Products — 0.7% | ||||||||
Acushnet Holdings Corp. | 2,357 | 120,749 | ||||||
American Outdoor Brands, Inc.(a) | 950 | 25,631 | ||||||
AMMO, Inc.(a) | 4,279 | 28,969 | ||||||
Brunswick Corp. | 5,556 | 580,046 | ||||||
Callaway Golf Co.(a) | 7,853 | 248,783 | ||||||
Clarus Corp. | 1,641 | 46,801 | ||||||
Escalade, Inc. | 723 | 16,412 | ||||||
Genius Brands International, Inc.(a)(b) | 18,186 | 28,552 | ||||||
Hayward Holdings, Inc.(a) | 2,424 | 58,394 | ||||||
Johnson Outdoors, Inc., Class A | 318 | 37,642 | ||||||
Latham Group, Inc.(a)(b) | 2,268 | 61,871 | ||||||
Malibu Boats, Inc., Class A(a) | 1,366 | 114,280 | ||||||
Marine Products Corp. | 440 | 7,198 | ||||||
MasterCraft Boat Holdings, Inc.(a) | 1,162 | 30,979 | ||||||
Mattel, Inc.(a) | 24,958 | 542,088 | ||||||
Nautilus, Inc.(a)(b) | 1,838 | 26,559 | ||||||
Polaris, Inc. | 4,111 | 538,829 | ||||||
Smith & Wesson Brands, Inc. | 3,557 | 83,412 | ||||||
Sturm Ruger & Co., Inc. | 1,162 | 86,406 | ||||||
Vista Outdoor, Inc.(a)(b) | 3,971 | 160,389 | ||||||
YETI Holdings, Inc.(a) | 6,139 | 591,370 | ||||||
|
| |||||||
3,435,360 | ||||||||
Life Sciences Tools & Services — 2.8% | ||||||||
10X Genomics, Inc., Class A(a) | 5,974 | 1,094,616 | ||||||
Adaptive Biotechnologies Corp.(a) | 7,676 | 281,402 | ||||||
Akoya Biosciences, Inc.(a) | 436 | 7,560 | ||||||
Avantor, Inc.(a) | 41,447 | 1,557,578 | ||||||
Berkeley Lights, Inc.(a) | 3,261 | 148,636 | ||||||
Bionano Genomics, Inc.(a)(b) | 18,405 | 109,142 | ||||||
Bio-Techne Corp. | 2,775 | 1,338,216 | ||||||
Bruker Corp. | 7,036 | 578,711 | ||||||
Charles River Laboratories International, Inc.(a) | 3,578 | 1,455,960 | ||||||
ChromaDex Corp.(a) | 3,250 | 28,243 | ||||||
Codexis, Inc.(a) | 5,116 | 108,255 | ||||||
Fluidigm Corp.(a)(b) | 5,035 | 37,309 | ||||||
Harvard Bioscience, Inc.(a) | 2,780 | 21,934 | ||||||
Inotiv, Inc.(a) | 824 | 21,523 | ||||||
Maravai LifeSciences Holdings, Inc., Class A(a) | 5,203 | 228,776 | ||||||
Medpace Holdings, Inc.(a) | 2,019 | 355,223 | ||||||
NanoString Technologies, Inc.(a) | 3,087 | 191,209 | ||||||
NeoGenomics, Inc.(a) | 8,217 | 378,804 | ||||||
Pacific Biosciences of California, Inc.(a) | 13,951 | 448,525 | ||||||
PerkinElmer, Inc.(b) | 7,997 | 1,457,293 | ||||||
Personalis, Inc.(a) | 3,444 | 72,290 | ||||||
PPD, Inc.(a) | 11,570 | 533,608 |
Security | Shares | Value | ||||||
Life Sciences Tools & Services (continued) | ||||||||
QIAGEN NV(a)(b) | 16,253 | $ | 857,996 | |||||
Quanterix Corp.(a) | 2,107 | 111,987 | ||||||
Repligen Corp.(a)(b) | 3,906 | 959,704 | ||||||
Seer, Inc.(a) | 980 | 31,301 | ||||||
Sotera Health Co.(a) | 5,185 | 122,884 | ||||||
Syneos Health, Inc.(a) | 7,345 | 658,626 | ||||||
|
| |||||||
13,197,311 | ||||||||
Machinery — 3.9% | ||||||||
AGCO Corp. | 4,446 | 587,361 | ||||||
AgEagle Aerial Systems, Inc.(a) | 4,305 | 17,134 | ||||||
Alamo Group, Inc. | 817 | 119,911 | ||||||
Albany International Corp., Class A | 2,244 | 193,769 | ||||||
Allison Transmission Holdings, Inc. | 7,672 | 306,190 | ||||||
Altra Industrial Motion Corp. | 4,761 | 298,419 | ||||||
Astec Industries, Inc. | 1,500 | 91,965 | ||||||
Barnes Group, Inc. | 3,647 | 184,793 | ||||||
Blue Bird Corp.(a) | 1,008 | 25,200 | ||||||
Chart Industries, Inc.(a)(b) | 2,632 | 409,144 | ||||||
CIRCOR International, Inc.(a) | 1,226 | 37,810 | ||||||
Colfax Corp.(a) | 8,143 | 373,601 | ||||||
Columbus McKinnon Corp. | 2,230 | 103,472 | ||||||
Commercial Vehicle Group, Inc.(a) | 2,049 | 18,728 | ||||||
Crane Co. | 3,456 | 336,027 | ||||||
Desktop Metal, Inc., Class A(a) | 5,444 | 48,996 | ||||||
Donaldson Co., Inc. | 8,645 | 572,213 | ||||||
Douglas Dynamics, Inc. | 2,113 | 84,309 | ||||||
Energy Recovery, Inc.(a) | 3,879 | 82,041 | ||||||
Enerpac Tool Group Corp. | 4,943 | 126,887 | ||||||
EnPro Industries, Inc. | 1,592 | 148,247 | ||||||
ESCO Technologies, Inc. | 1,970 | 185,909 | ||||||
Evoqua Water Technologies Corp.(a) | 8,528 | 281,509 | ||||||
ExOne Co.(a) | 1,110 | 18,426 | ||||||
Federal Signal Corp. | 3,993 | 158,163 | ||||||
Flowserve Corp. | 9,356 | 393,794 | ||||||
Franklin Electric Co., Inc. | 3,114 | 254,601 | ||||||
Gates Industrial Corp. PLC(a) | 4,601 | 83,324 | ||||||
Gorman-Rupp Co. | 2,064 | 73,664 | ||||||
Graco, Inc. | 11,722 | 915,254 | ||||||
Greenbrier Cos., Inc. | 2,164 | 92,619 | ||||||
Helios Technologies, Inc. | 2,194 | 177,385 | ||||||
Hillenbrand, Inc. | 5,075 | 229,897 | ||||||
Hydrofarm Holdings Group, Inc.(a) | 748 | 36,906 | ||||||
Hyliion Holdings Corp.(a)(b) | 7,646 | 74,166 | ||||||
Hyster-Yale Materials Handling, Inc. | 629 | 45,062 | ||||||
Ideanomics, Inc.(a)(b) | 26,665 | 63,196 | ||||||
ITT, Inc. | 5,989 | 586,383 | ||||||
John Bean Technologies Corp. | 2,124 | 311,336 | ||||||
Kadant, Inc. | 879 | 158,334 | ||||||
Kennametal, Inc. | 6,210 | 225,113 | ||||||
Lincoln Electric Holdings, Inc. | 4,030 | 561,903 | ||||||
Lindsay Corp. | 855 | 137,390 | ||||||
Luxfer Holdings PLC | 2,917 | 60,819 | ||||||
Lydall, Inc.(a) | 1,173 | 71,788 | ||||||
Manitowoc Co., Inc.(a) | 2,274 | 52,643 | ||||||
Mayville Engineering Co., Inc.(a) | 562 | 9,874 | ||||||
Meritor, Inc.(a) | 5,729 | 139,387 | ||||||
Middleby Corp.(a) | 3,927 | 751,981 | ||||||
Miller Industries, Inc. | 1,406 | 52,739 | ||||||
Mueller Industries, Inc. | 4,421 | 191,871 | ||||||
Mueller Water Products, Inc., Class A | 12,094 | 179,233 | ||||||
Nikola Corp.(a)(b) | 13,634 | 161,836 | ||||||
NN, Inc.(a) | 2,833 | 19,378 |
S C H E D U L E O F I N V E S T M E N T S | 39 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Machinery (continued) | ||||||||
Nordson Corp. | 4,099 | $ | 926,907 | |||||
Omega Flex, Inc. | 189 | 29,639 | ||||||
Oshkosh Corp. | 4,836 | 578,144 | ||||||
Park-Ohio Holdings Corp. | 471 | 13,701 | ||||||
Pentair PLC | 11,694 | 861,497 | ||||||
Proto Labs, Inc.(a) | 1,885 | 147,388 | ||||||
RBC Bearings, Inc.(a) | 1,724 | 405,140 | ||||||
REV Group, Inc. | 1,889 | 28,543 | ||||||
Rexnord Corp. | 8,496 | 478,580 | ||||||
Shyft Group, Inc. | 2,303 | 90,830 | ||||||
Snap-on, Inc. | 3,771 | 822,003 | ||||||
SPX Corp.(a) | 3,179 | 211,912 | ||||||
SPX FLOW, Inc. | 3,099 | 254,583 | ||||||
Standex International Corp. | 1,014 | 93,288 | ||||||
Tennant Co. | 1,470 | 116,306 | ||||||
Terex Corp. | 4,918 | 235,671 | ||||||
Timken Co. | 4,642 | 369,039 | ||||||
Titan International, Inc.(a) | 3,257 | 28,075 | ||||||
Toro Co. | 7,533 | 856,803 | ||||||
TriMas Corp.(a) | 3,471 | 113,571 | ||||||
Trinity Industries, Inc. | 5,944 | 161,142 | ||||||
Wabash National Corp. | 5,123 | 75,001 | ||||||
Watts Water Technologies, Inc., Class A | 1,843 | 277,851 | ||||||
Welbilt, Inc.(a) | 8,872 | 208,403 | ||||||
Woodward, Inc. | 4,090 | 497,180 | ||||||
|
| |||||||
18,803,297 | ||||||||
Marine — 0.1% | ||||||||
Costamare, Inc. | 3,575 | 38,753 | ||||||
Eagle Bulk Shipping, Inc.(a) | 543 | 22,643 | ||||||
Genco Shipping & Trading Ltd. | 2,115 | 37,118 | ||||||
Kirby Corp.(a) | 4,100 | 237,431 | ||||||
Matson, Inc. | 3,275 | 219,818 | ||||||
Safe Bulkers, Inc.(a) | 3,811 | 12,729 | ||||||
|
| |||||||
568,492 | ||||||||
Media — 1.3% | ||||||||
Advantage Solutions, Inc.(a) | 4,936 | 48,274 | ||||||
AMC Networks, Inc., Class A(a)(b) | 1,982 | 99,179 | ||||||
Boston Omaha Corp., Class A(a) | 1,133 | 37,061 | ||||||
Cable One, Inc. | 389 | 734,428 | ||||||
Cardlytics, Inc.(a) | 2,170 | 273,333 | ||||||
Clear Channel Outdoor Holdings, Inc.(a) | 23,520 | 62,563 | ||||||
ComScore, Inc.(a) | 4,020 | 16,120 | ||||||
Daily Journal Corp.(a) | 71 | 23,643 | ||||||
Emerald Holding, Inc.(a) | 1,872 | 7,394 | ||||||
Entercom Communications Corp.(a) | 7,924 | 28,289 | ||||||
Entravision Communications Corp., Class A | 3,973 | 24,434 | ||||||
EW Scripps Co., Class A | 4,936 | 94,179 | ||||||
Fluent, Inc.(a) | 2,731 | 6,800 | ||||||
Gannett Co., Inc.(a) | 9,539 | 55,040 | ||||||
Gray Television, Inc. | 6,837 | 151,576 | ||||||
Hemisphere Media Group, Inc.(a) | 733 | 9,316 | ||||||
iHeartMedia, Inc., Class A(a) | 7,586 | 196,098 | ||||||
Interpublic Group of Cos., Inc. | 28,370 | 1,003,163 | ||||||
John Wiley & Sons, Inc., Class A | 3,352 | 197,031 | ||||||
Loral Space & Communications, Inc. | 847 | 29,975 | ||||||
Magnite, Inc.(a)(b) | 7,146 | 216,524 | ||||||
MDC Partners, Inc., Class A(a) | 3,882 | 21,778 | ||||||
Meredith Corp.(a) | 2,732 | 119,225 | ||||||
National CineMedia, Inc. | 4,140 | 14,407 | ||||||
New York Times Co., Class A | 11,871 | 519,712 | ||||||
News Corp., Class A | 27,783 | 684,295 | ||||||
News Corp., Class B | 9,100 | 213,941 |
Security | Shares | Value | ||||||
Media (continued) | ||||||||
Nexstar Media Group, Inc., Class A | 2,864 | $ | 421,209 | |||||
Scholastic Corp. | 1,950 | 65,540 | ||||||
Sinclair Broadcast Group, Inc., Class A | 3,646 | 103,145 | ||||||
TechTarget, Inc.(a) | 1,933 | 141,264 | ||||||
TEGNA, Inc. | 14,979 | 265,428 | ||||||
Thryv Holdings, Inc.(a) | 389 | 12,923 | ||||||
WideOpenWest, Inc.(a) | 3,492 | 77,662 | ||||||
|
| |||||||
5,974,949 | ||||||||
Metals & Mining — 1.4% | ||||||||
Alcoa Corp.(a) | 13,434 | 539,375 | ||||||
Allegheny Technologies, Inc.(a)(b) | 9,798 | 201,153 | ||||||
Arconic Corp.(a) | 7,817 | 280,943 | ||||||
Carpenter Technology Corp. | 3,253 | 124,102 | ||||||
Century Aluminum Co.(a) | 3,378 | 49,184 | ||||||
Cleveland-Cliffs, Inc.(a) | 32,578 | 814,450 | ||||||
Coeur Mining, Inc.(a) | 16,538 | 124,696 | ||||||
Commercial Metals Co. | 8,057 | 264,270 | ||||||
Compass Minerals International, Inc. | 2,351 | 161,184 | ||||||
Constellium SE(a) | 9,559 | 180,378 | ||||||
Ferroglobe PLC(a)(c) | 897 | — | ||||||
Gatos Silver, Inc.(a) | 2,250 | 30,690 | ||||||
Haynes International, Inc. | 1,367 | 51,577 | ||||||
Hecla Mining Co. | 36,226 | 242,352 | ||||||
Kaiser Aluminum Corp. | 1,268 | 154,290 | ||||||
Materion Corp. | 1,344 | 95,908 | ||||||
MP Materials Corp.(a)(b) | 4,943 | 185,956 | ||||||
Novagold Resources, Inc.(a) | 16,315 | 127,583 | ||||||
Olympic Steel, Inc. | 570 | 17,168 | ||||||
Perpetua Resources Corp.(a) | 1,669 | 9,497 | ||||||
PolyMet Mining Corp.(a) | 1,623 | 4,983 | ||||||
Reliance Steel & Aluminum Co. | 4,435 | 696,960 | ||||||
Royal Gold, Inc. | 4,712 | 572,602 | ||||||
Ryerson Holding Corp.(a) | 2,572 | 40,458 | ||||||
Schnitzer Steel Industries, Inc., Class A | 1,732 | 90,791 | ||||||
Steel Dynamics, Inc. | 14,240 | 917,768 | ||||||
SunCoke Energy, Inc. | 5,464 | 42,237 | ||||||
TimkenSteel Corp.(a) | 3,131 | 41,736 | ||||||
United States Steel Corp. | 19,210 | 508,681 | ||||||
Warrior Met Coal, Inc. | 3,322 | 62,022 | ||||||
Worthington Industries, Inc. | 2,337 | 149,498 | ||||||
|
| |||||||
6,782,492 | ||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.9% | ||||||||
AFC Gamma, Inc. | 473 | 10,065 | ||||||
AGNC Investment Corp. | 37,437 | 594,125 | ||||||
Apollo Commercial Real Estate Finance, Inc. | 11,088 | 168,759 | ||||||
Arbor Realty Trust, Inc. | 8,714 | 159,292 | ||||||
Ares Commercial Real Estate Corp. | 3,899 | 58,797 | ||||||
ARMOUR Residential REIT, Inc. | 4,812 | 50,045 | ||||||
Blackstone Mortgage Trust, Inc., Class A | 9,741 | 315,803 | ||||||
BrightSpire Capital, Inc. | 6,378 | 60,655 | ||||||
Broadmark Realty Capital, Inc. | 10,781 | 111,799 | ||||||
Capstead Mortgage Corp. | 5,946 | 37,876 | ||||||
Chimera Investment Corp. | 15,583 | 229,382 | ||||||
Dynex Capital, Inc. | 1,950 | 34,027 | ||||||
Ellington Financial, Inc. | 2,706 | 49,195 | ||||||
Granite Point Mortgage Trust, Inc. | 3,724 | 52,546 | ||||||
Great Ajax Corp. | 3,029 | 38,408 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 5,586 | 317,285 | ||||||
Invesco Mortgage Capital, Inc. | 16,201 | 55,731 | ||||||
KKR Real Estate Finance Trust, Inc. | 2,098 | 44,708 | ||||||
Ladder Capital Corp. | 7,411 | 84,634 |
40 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Mortgage Real Estate Investment Trusts (REITs) (continued) | ||||||||
MFA Financial, Inc. | 30,246 | $ | 141,249 | |||||
New Residential Investment Corp. | 30,609 | 298,744 | ||||||
New York Mortgage Trust, Inc. | 24,832 | 108,516 | ||||||
Orchid Island Capital, Inc. | 6,976 | 34,531 | ||||||
PennyMac Mortgage Investment Trust | 6,666 | 131,454 | ||||||
Ready Capital Corp. | 3,850 | 58,212 | ||||||
Redwood Trust, Inc. | 7,402 | 87,862 | ||||||
Starwood Property Trust, Inc. | 19,581 | 509,693 | ||||||
TPG RE Finance Trust, Inc. | 4,065 | 53,495 | ||||||
Two Harbors Investment Corp. | 22,178 | 142,161 | ||||||
|
| |||||||
4,039,049 | ||||||||
Multi-line Retail — 0.4% | ||||||||
Big Lots, Inc. | 2,370 | 136,536 | ||||||
Dillard’s, Inc., Class A(b) | 417 | 76,423 | ||||||
Franchise Group, Inc. | 1,856 | 63,030 | ||||||
Kohl’s Corp. | 11,280 | 573,024 | ||||||
Macy’s, Inc.(a) | 16,896 | 287,232 | ||||||
Nordstrom, Inc.(a) | 7,551 | 249,938 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.(a) | 4,533 | 422,022 | ||||||
|
| |||||||
1,808,205 | ||||||||
Multi-Utilities — 0.4% | ||||||||
Avista Corp. | 4,449 | 190,551 | ||||||
Black Hills Corp. | 4,653 | 314,775 | ||||||
MDU Resources Group, Inc. | 14,347 | 455,087 | ||||||
NiSource, Inc. | 28,116 | 696,433 | ||||||
NorthWestern Corp. | 3,494 | 216,593 | ||||||
Unitil Corp. | 964 | 51,015 | ||||||
|
| |||||||
1,924,454 | ||||||||
Oil, Gas & Consumable Fuels — 2.7% | ||||||||
Aemetis, Inc.(a)(b) | 1,531 | 13,427 | ||||||
Alto Ingredients, Inc.(a)(b) | 4,729 | 25,064 | ||||||
Altus Midstream Co., Class A | 210 | 13,408 | ||||||
Antero Midstream Corp. | 23,046 | 218,937 | ||||||
Antero Resources Corp.(a) | 19,483 | 264,969 | ||||||
APA Corp. | 27,183 | 509,681 | ||||||
Arch Resources, Inc.(a) | 997 | 65,523 | ||||||
Berry Corp. | 4,328 | 24,020 | ||||||
Bonanza Creek Energy, Inc. | 2,020 | 77,709 | ||||||
Brigham Minerals, Inc., Class A | 4,222 | 82,920 | ||||||
Cabot Oil & Gas Corp. | 28,345 | 453,520 | ||||||
California Resources Corp.(a)(b) | 5,733 | 161,155 | ||||||
Callon Petroleum Co.(a) | 2,720 | 107,059 | ||||||
Centennial Resource Development, Inc., Class A(a) | 11,836 | 61,666 | ||||||
Centrus Energy Corp., Class A(a) | 592 | 13,728 | ||||||
Chesapeake Energy Corp. | 7,174 | 387,755 | ||||||
Cimarex Energy Co. | 7,080 | 461,616 | ||||||
Clean Energy Fuels Corp.(a)(b) | 9,258 | 69,528 | ||||||
CNX Resources Corp.(a) | 14,931 | 180,665 | ||||||
Comstock Resources, Inc.(a) | 5,883 | 35,769 | ||||||
CONSOL Energy, Inc.(a) | 2,266 | 47,609 | ||||||
Contango Oil & Gas Co.(a)(b) | 9,571 | 36,561 | ||||||
Continental Resources, Inc. | 5,123 | 174,950 | ||||||
CVR Energy, Inc. | 2,176 | 29,724 | ||||||
Delek US Holdings, Inc. | 4,450 | 77,341 | ||||||
Denbury, Inc.(a) | 3,800 | 249,698 | ||||||
Devon Energy Corp. | 48,750 | 1,259,700 | ||||||
DHT Holdings, Inc. | 9,463 | 54,885 | ||||||
Diamondback Energy, Inc. | 13,053 | 1,006,778 | ||||||
Dorian LPG Ltd.(a) | 3,908 | 47,287 | ||||||
Earthstone Energy, Inc., Class A(a) | 1,689 | 16,603 |
Security | Shares | Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Energy Fuels, Inc.(a) | 9,251 | $ | 48,568 | |||||
EQT Corp.(a) | 19,355 | 355,938 | ||||||
Equitrans Midstream Corp. | 27,988 | 230,061 | ||||||
Extraction Oil & Gas, Inc.(a) | 1,535 | 68,292 | ||||||
Falcon Minerals Corp. | 2,710 | 12,927 | ||||||
Frontline Ltd. | 7,911 | 62,971 | ||||||
Gevo, Inc.(a) | 13,591 | 82,769 | ||||||
Golar LNG Ltd.(a) | 7,098 | 79,214 | ||||||
Green Plains, Inc.(a) | 2,103 | 74,362 | ||||||
HollyFrontier Corp. | 10,691 | 314,315 | ||||||
International Seaways, Inc. | 2,509 | 41,273 | ||||||
Kosmos Energy Ltd.(a) | 26,934 | 62,217 | ||||||
Laredo Petroleum, Inc.(a) | 822 | 45,259 | ||||||
Magnolia Oil & Gas Corp., Class A(a)(b) | 11,185 | 156,590 | ||||||
Marathon Oil Corp. | 57,509 | 666,529 | ||||||
Matador Resources Co. | 7,543 | 233,079 | ||||||
Murphy Oil Corp. | 10,015 | 217,426 | ||||||
New Fortress Energy, Inc. | 1,735 | 52,588 | ||||||
Nordic American Tankers Ltd. | 10,161 | 26,520 | ||||||
Northern Oil and Gas, Inc. | 3,120 | 53,882 | ||||||
Oasis Petroleum, Inc. | 1,374 | 126,009 | ||||||
Ovintiv, Inc. | 18,989 | 487,258 | ||||||
Par Pacific Holdings, Inc.(a) | 2,965 | 48,567 | ||||||
PBF Energy, Inc., Class A(a) | 6,677 | 61,228 | ||||||
PDC Energy, Inc. | 7,044 | 278,590 | ||||||
Peabody Energy Corp.(a) | 4,515 | 52,871 | ||||||
Penn Virginia Corp.(a) | 964 | 17,824 | ||||||
Range Resources Corp.(a) | 16,269 | 247,777 | ||||||
Renewable Energy Group, Inc.(a)(b) | 3,055 | 187,119 | ||||||
REX American Resources Corp.(a) | 348 | 28,536 | ||||||
Riley Exploration Permian, Inc.(b) | 559 | 12,069 | ||||||
Scorpio Tankers, Inc. | 3,196 | 52,255 | ||||||
SFL Corp. Ltd. | 7,106 | 48,818 | ||||||
SM Energy Co. | 7,957 | 148,796 | ||||||
Southwestern Energy Co.(a) | 46,211 | 217,654 | ||||||
Talos Energy, Inc.(a) | 2,396 | 27,650 | ||||||
Targa Resources Corp. | 16,360 | 688,920 | ||||||
Teekay Corp.(a) | 4,335 | 12,962 | ||||||
Teekay Tankers Ltd., Class A(a) | 1,521 | 19,241 | ||||||
Tellurian, Inc.(a) | 21,861 | 82,416 | ||||||
Texas Pacific Land Corp. | 422 | 629,856 | ||||||
Uranium Energy Corp.(a)(b) | 13,851 | 30,057 | ||||||
Ur-Energy, Inc.(a) | 11,431 | 12,917 | ||||||
Vine Energy, Inc., Class A(a) | 1,332 | 18,661 | ||||||
W&T Offshore, Inc.(a) | 11,632 | 47,110 | ||||||
Whiting Petroleum Corp.(a) | 2,681 | 125,739 | ||||||
World Fuel Services Corp. | 4,410 | 151,969 | ||||||
|
| |||||||
12,976,904 | ||||||||
Paper & Forest Products — 0.2% | ||||||||
Clearwater Paper Corp.(a) | 1,003 | 29,578 | ||||||
Domtar Corp.(a) | 3,415 | 187,518 | ||||||
Glatfelter Corp. | 2,972 | 45,263 | ||||||
Louisiana-Pacific Corp. | 7,372 | 408,704 | ||||||
Neenah, Inc. | 1,152 | 57,911 | ||||||
Schweitzer-Mauduit International, Inc. | 2,086 | 82,042 | ||||||
Verso Corp., Class A | 2,082 | 39,600 | ||||||
|
| |||||||
850,616 | ||||||||
Personal Products — 0.3% | ||||||||
Beauty Health Co.(a) | 3,019 | 53,014 | ||||||
BellRing Brands, Inc., Class A(a) | 3,364 | 111,248 | ||||||
Coty, Inc., Class A(a) | 19,851 | 173,299 |
S C H E D U L E O F I N V E S T M E N T S | 41 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Personal Products (continued) | ||||||||
Edgewell Personal Care Co. | 3,734 | $ | 153,393 | |||||
elf Beauty, Inc.(a) | 3,925 | 108,369 | ||||||
Herbalife Nutrition Ltd.(a) | 7,440 | 378,994 | ||||||
Honest Co., Inc.(a) | 1,620 | 23,279 | ||||||
Inter Parfums, Inc. | 1,205 | 92,628 | ||||||
Medifast, Inc. | 877 | 250,392 | ||||||
Nature’s Sunshine Products, Inc. | 728 | 12,806 | ||||||
Nu Skin Enterprises, Inc., Class A | 3,393 | 182,170 | ||||||
Revlon, Inc., Class A(a)(b) | 566 | 6,169 | ||||||
USANA Health Sciences, Inc.(a) | 873 | 83,171 | ||||||
Veru, Inc.(a) | 4,129 | 28,366 | ||||||
|
| |||||||
1,657,298 | ||||||||
Pharmaceuticals — 1.4% | ||||||||
9 Meters Biopharma, Inc.(a) | 13,360 | 14,429 | ||||||
Aclaris Therapeutics, Inc.(a) | 2,828 | 42,222 | ||||||
Aerie Pharmaceuticals, Inc.(a) | 2,752 | 43,427 | ||||||
Amneal Pharmaceuticals, Inc.(a) | 6,163 | 30,384 | ||||||
Amphastar Pharmaceuticals, Inc.(a) | 2,489 | 52,145 | ||||||
Ampio Pharmaceuticals, Inc.(a) | 12,064 | 17,010 | ||||||
Angion Biomedica Corp.(a) | 453 | 4,815 | ||||||
ANI Pharmaceuticals, Inc.(a) | 607 | 20,595 | ||||||
Antares Pharma, Inc.(a) | 10,470 | 46,068 | ||||||
Arvinas, Inc.(a) | 3,195 | 323,014 | ||||||
Atea Pharmaceuticals, Inc.(a)(b) | 4,442 | 111,228 | ||||||
Athira Pharma, Inc.(a) | 2,081 | 19,998 | ||||||
Axsome Therapeutics, Inc.(a)(b) | 2,115 | 102,768 | ||||||
BioDelivery Sciences International, Inc.(a) | 5,187 | 19,503 | ||||||
Cara Therapeutics, Inc.(a) | 3,088 | 36,963 | ||||||
Cassava Sciences, Inc.(a) | 2,602 | 180,917 | ||||||
Catalent, Inc.(a) | 11,621 | 1,392,312 | ||||||
Cerecor, Inc.(a) | 3,381 | 8,993 | ||||||
Citius Pharmaceuticals, Inc.(a) | 7,405 | 13,995 | ||||||
Collegium Pharmaceutical, Inc.(a) | 3,285 | 81,764 | ||||||
Corcept Therapeutics, Inc.(a)(b) | 6,614 | 137,373 | ||||||
CorMedix, Inc.(a) | 2,538 | 14,746 | ||||||
Cymabay Therapeutics, Inc.(a) | 4,286 | 16,887 | ||||||
Durect Corp.(a) | 14,203 | 20,026 | ||||||
Edgewise Therapeutics, Inc.(a) | 779 | 13,640 | ||||||
Endo International PLC(a)(b) | 15,974 | 80,828 | ||||||
Esperion Therapeutics, Inc.(a)(b) | 1,834 | 28,225 | ||||||
Evolus, Inc.(a) | 2,114 | 22,873 | ||||||
EyePoint Pharmaceuticals, Inc.(a) | 1,271 | 10,448 | ||||||
Fulcrum Therapeutics, Inc.(a)(b) | 1,394 | 10,190 | ||||||
Harmony Biosciences Holdings, Inc.(a) | 1,441 | 37,697 | ||||||
Ikena Oncology, Inc.(a)(b) | 517 | 5,123 | ||||||
Innoviva, Inc.(a)(b) | 4,157 | 58,946 | ||||||
Intra-Cellular Therapies, Inc.(a) | 4,836 | 166,020 | ||||||
Jazz Pharmaceuticals PLC(a) | 4,252 | 720,799 | ||||||
Kala Pharmaceuticals, Inc.(a)(b) | 3,108 | 10,723 | ||||||
Kaleido Biosciences, Inc.(a)(b) | 1,434 | 7,787 | ||||||
KemPharm, Inc.(a)(b) | 1,865 | 18,818 | ||||||
Landos Biopharma, Inc.(a) | 594 | 6,522 | ||||||
Marinus Pharmaceuticals, Inc.(a)(b) | 2,566 | 37,720 | ||||||
Mind Medicine MindMed, Inc.(a) | 21,035 | 64,367 | ||||||
Nektar Therapeutics(a)(b) | 12,954 | 204,544 | ||||||
NGM Biopharmaceuticals, Inc.(a) | 2,061 | 42,024 | ||||||
Nuvation Bio, Inc.(a) | 2,283 | 19,725 | ||||||
Ocular Therapeutix, Inc.(a) | 5,213 | 57,395 | ||||||
Omeros Corp.(a)(b) | 4,210 | 61,045 | ||||||
Oramed Pharmaceuticals, Inc.(a)(b) | 1,727 | 24,506 | ||||||
Organon & Co.(a) | 18,173 | 527,199 |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
Pacira BioSciences, Inc.(a)(b) | 3,404 | $ | 200,666 | |||||
Paratek Pharmaceuticals, Inc.(a) | 3,208 | 16,682 | ||||||
Perrigo Co. PLC | 9,690 | 465,411 | ||||||
Phathom Pharmaceuticals, Inc.(a) | 1,310 | 42,051 | ||||||
Phibro Animal Health Corp., Class A | 1,994 | 47,198 | ||||||
Pliant Therapeutics, Inc.(a) | 1,593 | 32,179 | ||||||
Prestige Consumer Healthcare, Inc.(a) | 3,630 | 190,756 | ||||||
Provention Bio, Inc.(a) | 3,626 | 22,010 | ||||||
Rain Therapeutics, Inc.(a) | 454 | 7,559 | ||||||
Reata Pharmaceuticals, Inc., Class A(a)(b) | 1,873 | 234,706 | ||||||
Relmada Therapeutics, Inc.(a) | 1,035 | 26,910 | ||||||
Revance Therapeutics, Inc.(a) | 5,230 | 152,088 | ||||||
Seelos Therapeutics, Inc.(a) | 4,772 | 10,737 | ||||||
SIGA Technologies, Inc.(a) | 3,406 | 21,696 | ||||||
Supernus Pharmaceuticals, Inc.(a) | 3,911 | 102,977 | ||||||
Tarsus Pharmaceuticals, Inc.(a) | 537 | 12,120 | ||||||
Terns Pharmaceuticals, Inc.(a) | 632 | 4,740 | ||||||
TherapeuticsMD, Inc.(a) | 24,042 | 24,042 | ||||||
Theravance Biopharma, Inc.(a) | 3,460 | 44,911 | ||||||
Verrica Pharmaceuticals, Inc.(a)(b) | 1,080 | 11,556 | ||||||
WaVe Life Sciences Ltd.(a) | 2,798 | 15,417 | ||||||
Zogenix, Inc.(a)(b) | 3,741 | 60,642 | ||||||
|
| |||||||
6,735,800 | ||||||||
Professional Services — 1.8% | ||||||||
Acacia Research Corp.(a) | 3,421 | 19,294 | ||||||
ASGN, Inc.(a) | 3,521 | 356,079 | ||||||
Atlas Technical Consultants, Inc.(a) | 787 | 7,075 | ||||||
Barrett Business Services, Inc. | 524 | 38,362 | ||||||
Booz Allen Hamilton Holding Corp. | 9,655 | 828,496 | ||||||
CACI International, Inc., Class A(a)(b) | 1,668 | 445,289 | ||||||
CBIZ, Inc.(a) | 3,887 | 125,706 | ||||||
CRA International, Inc. | 490 | 42,008 | ||||||
Dun & Bradstreet Holdings, Inc.(a) | 11,557 | 242,235 | ||||||
Exponent, Inc. | 3,637 | 389,486 | ||||||
Forrester Research, Inc.(a) | 664 | 31,108 | ||||||
Franklin Covey Co.(a) | 1,504 | 55,031 | ||||||
FTI Consulting, Inc.(a)(b) | 2,444 | 356,091 | ||||||
GP Strategies Corp.(a) | 840 | 17,094 | ||||||
Heidrick & Struggles International, Inc. | 1,324 | 56,548 | ||||||
HireQuest, Inc.(b) | 276 | 5,051 | ||||||
Huron Consulting Group, Inc.(a) | 1,462 | 71,828 | ||||||
ICF International, Inc. | 1,537 | 140,743 | ||||||
Insperity, Inc. | 2,443 | 241,979 | ||||||
Jacobs Engineering Group, Inc. | 9,094 | 1,229,963 | ||||||
KBR, Inc. | 10,434 | 403,796 | ||||||
Kelly Services, Inc., Class A(a) | 3,471 | 76,084 | ||||||
Kforce, Inc. | 1,661 | 103,696 | ||||||
Korn Ferry | 3,812 | 262,037 | ||||||
ManpowerGroup, Inc. | 3,684 | 436,849 | ||||||
ManTech International Corp., Class A | 1,865 | 163,113 | ||||||
Mistras Group, Inc.(a) | 1,389 | 14,585 | ||||||
Nielsen Holdings PLC | 25,929 | 614,258 | ||||||
Rekor Systems, Inc.(a) | 2,029 | 15,989 | ||||||
Resources Connection, Inc. | 2,473 | 38,307 | ||||||
Robert Half International, Inc. | 7,845 | 770,457 | ||||||
Science Applications International Corp. | 3,947 | 344,573 | ||||||
TriNet Group, Inc.(a) | 2,721 | 225,789 | ||||||
TrueBlue, Inc.(a) | 2,361 | 64,196 |
42 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Professional Services (continued) | ||||||||
Upwork, Inc.(a) | 8,323 | $ | 431,048 | |||||
Willdan Group, Inc.(a) | 737 | 30,401 | ||||||
|
| |||||||
8,694,644 | ||||||||
Real Estate Management & Development — 0.6% |
| |||||||
Cushman & Wakefield PLC(a) | 9,152 | 170,868 | ||||||
eXp World Holdings, Inc.(a)(b) | 4,205 | 151,044 | ||||||
Fathom Holdings, Inc.(a)(b) | 364 | 9,209 | ||||||
Forestar Group, Inc.(a) | 1,055 | 21,596 | ||||||
FRP Holdings, Inc.(a) | 420 | 25,255 | ||||||
Howard Hughes Corp.(a) | 2,836 | 262,925 | ||||||
Jones Lang LaSalle, Inc.(a) | 3,638 | 809,710 | ||||||
Kennedy-Wilson Holdings, Inc. | 7,930 | 160,107 | ||||||
Marcus & Millichap, Inc.(a) | 1,572 | 62,550 | ||||||
Newmark Group, Inc., Class A | 10,187 | 131,208 | ||||||
Opendoor Technologies Inc.(a) | 25,282 | 374,679 | ||||||
Rafael Holdings, Inc., Class B(a) | 663 | 33,554 | ||||||
RE/MAX Holdings, Inc., Class A | 1,259 | 43,184 | ||||||
Realogy Holdings Corp.(a) | 7,840 | 138,925 | ||||||
Redfin Corp.(a) | 7,299 | 427,502 | ||||||
RMR Group, Inc., Class A | 1,681 | 65,962 | ||||||
St. Joe Co. | 2,296 | 103,940 | ||||||
Tejon Ranch Co.(a) | 1,400 | 25,522 | ||||||
|
| |||||||
3,017,740 | ||||||||
Road & Rail — 0.6% | ||||||||
AMERCO | 646 | 379,822 | ||||||
ArcBest Corp. | 1,751 | 103,502 | ||||||
Avis Budget Group, Inc.(a) | 3,478 | 287,874 | ||||||
Covenant Logistics Group, Inc., Class A(a) | 683 | 14,350 | ||||||
Daseke, Inc.(a)(b) | 2,562 | 17,703 | ||||||
Heartland Express, Inc. | 3,280 | 55,858 | ||||||
HyreCar, Inc.(a) | 1,144 | 19,997 | ||||||
Knight-Swift Transportation Holdings, Inc. | 11,008 | 546,987 | ||||||
Landstar System, Inc. | 2,597 | 407,729 | ||||||
Marten Transport Ltd. | 3,890 | 61,540 | ||||||
PAM Transportation Services, Inc.(a) | 74 | 4,625 | ||||||
Ryder System, Inc. | 3,558 | 270,942 | ||||||
Saia, Inc.(a) | 1,904 | 430,304 | ||||||
Schneider National, Inc., Class B | 3,457 | 77,575 | ||||||
TuSimple Holdings, Inc., Class A(a)(b) | 2,661 | 97,925 | ||||||
Universal Logistics Holdings, Inc. | 1,486 | 34,252 | ||||||
US Xpress Enterprises, Inc., Class A(a)(b) | 1,709 | 14,920 | ||||||
Werner Enterprises, Inc. | 4,271 | 195,227 | ||||||
Yellow Corp.(a) | 3,223 | 16,760 | ||||||
|
| |||||||
3,037,892 | ||||||||
Semiconductors & Semiconductor Equipment — 3.1% |
| |||||||
Allegro MicroSystems, Inc.(a) | 3,366 | 92,262 | ||||||
Alpha & Omega Semiconductor Ltd.(a) | 2,272 | 59,049 | ||||||
Ambarella, Inc.(a) | 2,616 | 257,650 | ||||||
Amkor Technology, Inc. | 7,856 | 193,572 | ||||||
Atomera, Inc.(a) | 1,329 | 23,457 | ||||||
Axcelis Technologies, Inc.(a) | 2,841 | 109,521 | ||||||
AXT, Inc.(a) | 2,786 | 28,417 | ||||||
Brooks Automation, Inc. | 5,329 | 474,334 | ||||||
CEVA, Inc.(a) | 1,977 | 98,138 | ||||||
Cirrus Logic, Inc.(a) | 3,914 | 323,257 | ||||||
CMC Materials, Inc. | 1,973 | 285,375 | ||||||
Cohu, Inc.(a) | 3,278 | 116,074 | ||||||
Cree, Inc.(a)(b) | 8,239 | 764,250 | ||||||
Diodes, Inc.(a) | 3,130 | 256,660 | ||||||
DSP Group, Inc.(a) | 1,326 | 21,282 |
Security | Shares | Value | ||||||
Semiconductors & Semiconductor Equipment (continued) |
| |||||||
Enphase Energy, Inc.(a) | 9,393 | $ | 1,780,913 | |||||
Entegris, Inc. | 9,565 | 1,153,922 | ||||||
First Solar, Inc.(a)(b) | 7,535 | 648,311 | ||||||
FormFactor, Inc.(a) | 5,306 | 197,702 | ||||||
Ichor Holdings Ltd.(a) | 1,908 | 98,396 | ||||||
Impinj, Inc.(a) | 1,772 | 81,512 | ||||||
Kopin Corp.(a)(b) | 5,063 | 34,125 | ||||||
Kulicke & Soffa Industries, Inc. | 4,167 | 226,518 | ||||||
Lattice Semiconductor Corp.(a) | 9,702 | 550,588 | ||||||
MACOM Technology Solutions Holdings, Inc., Class H(a)(b) | 3,506 | 216,390 | ||||||
MaxLinear, Inc.(a) | 4,747 | 228,948 | ||||||
Meta Materials, Inc.(a) | 4,017 | 14,059 | ||||||
MKS Instruments, Inc. | 3,943 | 616,843 | ||||||
Monolithic Power Systems, Inc. | 3,189 | 1,432,690 | ||||||
NeoPhotonics Corp.(a) | 3,201 | 31,050 | ||||||
NVE Corp. | 310 | 23,272 | ||||||
ON Semiconductor Corp.(a) | 30,265 | 1,182,151 | ||||||
Onto Innovation, Inc.(a) | 3,486 | 244,299 | ||||||
PDF Solutions, Inc.(a) | 1,827 | 34,183 | ||||||
Photronics, Inc.(a) | 3,857 | 51,568 | ||||||
Power Integrations, Inc. | 4,084 | 396,107 | ||||||
Rambus, Inc.(a) | 8,392 | 198,555 | ||||||
Semtech Corp.(a) | 4,937 | 305,650 | ||||||
Silicon Laboratories, Inc.(a) | 3,045 | 453,674 | ||||||
SiTime Corp.(a) | 844 | 114,480 | ||||||
SkyWater Technology, Inc.(a) | 489 | 8,440 | ||||||
SMART Global Holdings, Inc.(a) | 919 | 43,046 | ||||||
SunPower Corp.(a) | 5,464 | 135,343 | ||||||
Synaptics, Inc.(a)(b) | 2,548 | 387,092 | ||||||
Ultra Clean Holdings, Inc.(a) | 2,972 | 160,518 | ||||||
Universal Display Corp. | 3,090 | 724,574 | ||||||
Veeco Instruments, Inc.(a) | 4,242 | 98,414 | ||||||
|
| |||||||
14,976,631 | ||||||||
Software — 7.3% | ||||||||
8x8, Inc.(a) | 7,245 | 185,182 | ||||||
A10 Networks, Inc.(a) | 4,124 | 52,663 | ||||||
ACI Worldwide, Inc.(a) | 7,991 | 274,091 | ||||||
Agilysys, Inc.(a) | 1,266 | 70,339 | ||||||
Alarm.com Holdings, Inc.(a) | 3,205 | 266,720 | ||||||
Alkami Technology, Inc.(a) | 435 | 13,611 | ||||||
Altair Engineering, Inc., Class A(a)(b) | 3,293 | 229,720 | ||||||
Alteryx, Inc., Class A(a) | 4,316 | 334,058 | ||||||
American Software, Inc., Class A | 2,066 | 45,452 | ||||||
Anaplan, Inc.(a) | 10,076 | 576,347 | ||||||
Appfolio, Inc., Class A(a) | 1,267 | 179,407 | ||||||
Appian Corp.(a)(b) | 2,868 | 333,921 | ||||||
Asana, Inc., Class A(a) | 5,343 | 379,674 | ||||||
Aspen Technology, Inc.(a) | 4,838 | 707,606 | ||||||
Avalara, Inc.(a) | 6,070 | 1,014,722 | ||||||
Avaya Holdings Corp.(a) | 5,652 | 136,891 | ||||||
Benefitfocus, Inc.(a) | 3,307 | 43,520 | ||||||
Bentley Systems, Inc., Class B | 9,615 | 584,688 | ||||||
Bill.Com Holdings, Inc.(a) | 5,357 | 1,107,935 | ||||||
Black Knight, Inc.(a) | 10,804 | 894,679 | ||||||
Blackbaud, Inc.(a) | 3,275 | 233,606 | ||||||
Blackline, Inc.(a) | 3,716 | 425,073 | ||||||
Bottomline Technologies DE, Inc.(a) | 3,023 | 122,008 | ||||||
Box, Inc., Class A(a) | 10,968 | 262,355 | ||||||
BTRS Holdings, Inc.(a)(b) | 3,069 | 35,938 | ||||||
C3.AI, Inc., Class A(a) | 1,210 | 60,924 |
S C H E D U L E O F I N V E S T M E N T S | 43 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
CDK Global, Inc. | 8,773 | $ | 421,016 | |||||
Cerence, Inc.(a) | 2,650 | 284,901 | ||||||
Ceridian HCM Holding, Inc.(a) | 9,230 | 908,232 | ||||||
ChannelAdvisor Corp.(a) | 1,911 | 44,507 | ||||||
Cleanspark, Inc.(a) | 2,137 | 28,850 | ||||||
Cloudera, Inc.(a) | 15,756 | 250,048 | ||||||
CommVault Systems, Inc.(a) | 3,054 | 230,852 | ||||||
Cornerstone OnDemand, Inc.(a) | 4,272 | 204,800 | ||||||
Datto Holding Corp.(a) | 1,613 | 42,083 | ||||||
Digimarc Corp.(a)(b) | 815 | 23,391 | ||||||
Digital Turbine, Inc.(a) | 6,114 | 384,876 | ||||||
Dolby Laboratories, Inc., Class A | 4,447 | 431,804 | ||||||
Domo, Inc., Class B(a)(b) | 1,872 | 165,354 | ||||||
DoubleVerify Holdings, Inc.(a) | 987 | 34,150 | ||||||
Dropbox, Inc., Class A(a) | 21,799 | 686,451 | ||||||
Duck Creek Technologies, Inc.(a) | 4,876 | 214,203 | ||||||
Dynatrace, Inc.(a) | 13,191 | 842,509 | ||||||
E2open Parent Holdings, Inc.(a) | 2,695 | 27,085 | ||||||
Ebix, Inc. | 1,755 | 53,036 | ||||||
eGain Corp.(a) | 1,349 | 15,743 | ||||||
Elastic NV(a) | 4,907 | 726,530 | ||||||
Envestnet, Inc.(a)(b) | 3,481 | 261,876 | ||||||
Everbridge, Inc.(a) | 2,731 | 385,672 | ||||||
Fair Isaac Corp.(a) | 1,988 | 1,041,533 | ||||||
FireEye, Inc.(a) | 16,408 | 331,442 | ||||||
Five9, Inc.(a) | 4,770 | 960,153 | ||||||
GTY Technology Holdings, Inc.(a) | 2,293 | 15,868 | ||||||
Guidewire Software, Inc.(a)(b) | 6,002 | 691,430 | ||||||
Intelligent Systems Corp.(a) | 474 | 16,016 | ||||||
InterDigital, Inc. | 2,155 | 141,993 | ||||||
j2 Global, Inc.(a) | 3,156 | 445,848 | ||||||
Jamf Holding Corp.(a)(b) | 3,651 | 119,789 | ||||||
JFrog Ltd.(a)(b) | 3,503 | 153,501 | ||||||
LivePerson, Inc.(a)(b) | 4,350 | 277,052 | ||||||
Manhattan Associates, Inc.(a) | 4,541 | 724,880 | ||||||
Marathon Digital Holdings, Inc.(a)(b) | 6,474 | 178,877 | ||||||
McAfee Corp., Class A | 3,223 | 87,247 | ||||||
Medallia, Inc.(a) | 7,768 | 263,102 | ||||||
MicroStrategy, Inc., Class A(a)(b) | 570 | 356,826 | ||||||
Mimecast Ltd.(a) | 4,056 | 225,311 | ||||||
Mitek Systems, Inc.(a) | 2,821 | 62,372 | ||||||
Model N, Inc.(a) | 3,044 | 98,534 | ||||||
Momentive Global, Inc.(a) | 8,741 | 183,561 | ||||||
N-Able, Inc.(a) | 2,427 | 33,493 | ||||||
nCino Inc.(a)(b) | 3,211 | 204,123 | ||||||
New Relic, Inc.(a) | 3,739 | 258,290 | ||||||
NortonLifeLock, Inc. | 39,023 | 968,551 | ||||||
Nuance Communications, Inc.(a) | 20,329 | 1,116,062 | ||||||
Nutanix, Inc., Class A(a) | 13,891 | 500,354 | ||||||
ON24, Inc.(a)(b) | 585 | 21,364 | ||||||
OneSpan, Inc.(a) | 2,327 | 57,407 | ||||||
PagerDuty, Inc.(a) | 6,059 | 245,935 | ||||||
Paylocity Holding Corp.(a) | 2,693 | 558,690 | ||||||
Pegasystems, Inc. | 2,955 | 377,176 | ||||||
Ping Identity Holding Corp.(a) | 2,845 | 62,789 | ||||||
Progress Software Corp. | 3,355 | 152,954 | ||||||
Proofpoint, Inc.(a) | 4,051 | 707,548 | ||||||
PROS Holdings, Inc.(a) | 2,741 | 119,014 | ||||||
PTC, Inc.(a) | 7,542 | 1,021,564 | ||||||
Q2 Holdings, Inc.(a) | 3,870 | 399,810 | ||||||
QAD, Inc., Class A | 786 | 68,186 | ||||||
Qualys, Inc.(a) | 2,314 | 235,010 |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Rapid7, Inc.(a) | 3,801 | $ | 432,364 | |||||
Rimini Street, Inc.(a) | 2,822 | 24,523 | ||||||
Riot Blockchain, Inc.(a)(b) | 5,722 | 188,540 | ||||||
SailPoint Technologies Holding, Inc.(a) | 6,800 | 339,932 | ||||||
Sapiens International Corp. NV | 3,097 | 78,075 | ||||||
SecureWorks Corp., Class A(a) | 715 | 14,343 | ||||||
ShotSpotter, Inc.(a) | 563 | 25,729 | ||||||
Smartsheet, Inc., Class A(a) | 8,631 | 626,179 | ||||||
Smith Micro Software, Inc.(a) | 2,783 | 15,752 | ||||||
Sprout Social, Inc., Class A(a) | 3,248 | 288,552 | ||||||
SPS Commerce, Inc.(a) | 2,675 | 291,441 | ||||||
Sumo Logic, Inc.(a)(b) | 5,566 | 114,938 | ||||||
Telos Corp.(a) | 1,134 | 31,775 | ||||||
Tenable Holdings, Inc.(a) | 6,175 | 264,290 | ||||||
Teradata Corp.(a) | 7,607 | 377,764 | ||||||
Upland Software, Inc.(a) | 1,854 | 66,744 | ||||||
Varonis Systems, Inc.(a) | 7,715 | 472,158 | ||||||
Verint Systems, Inc.(a) | 4,417 | 188,473 | ||||||
Veritone, Inc.(a) | 1,921 | 39,726 | ||||||
Viant Technology, Inc., Class A(a)(b) | 704 | 12,172 | ||||||
VirnetX Holding Corp.(a) | 3,999 | 16,396 | ||||||
Vonage Holdings Corp.(a) | 17,308 | 246,812 | ||||||
Workiva, Inc.(a) | 3,110 | 403,585 | ||||||
Xperi Holding Corp. | 7,170 | 148,921 | ||||||
Yext, Inc.(a) | 7,370 | 96,031 | ||||||
Zendesk, Inc.(a) | 8,416 | 1,098,540 | ||||||
Zix Corp.(a) | 3,312 | 24,542 | ||||||
Zuora, Inc., Class A(a) | 8,297 | 143,455 | ||||||
|
| |||||||
34,794,506 | ||||||||
Specialty Retail — 2.7% | ||||||||
Aaron’s Co., Inc. | 2,311 | 66,719 | ||||||
Abercrombie & Fitch Co., Class A(a) | 4,497 | 170,032 | ||||||
Academy Sports & Outdoors, Inc.(a) | 4,182 | 154,943 | ||||||
American Eagle Outfitters, Inc. | 11,014 | 379,653 | ||||||
America’s Car-Mart, Inc.(a) | 411 | 65,349 | ||||||
Arko Corp.(a) | 1,154 | 9,578 | ||||||
Asbury Automotive Group, Inc.(a) | 1,315 | 270,180 | ||||||
AutoNation, Inc.(a) | 3,586 | 435,089 | ||||||
Barnes & Noble Education, Inc.(a) | 2,523 | 21,067 | ||||||
Bed Bath & Beyond, Inc.(a) | 7,484 | 213,593 | ||||||
Big 5 Sporting Goods Corp. | 1,371 | 30,052 | ||||||
Blink Charging Co.(a)(b) | 2,534 | 87,499 | ||||||
Boot Barn Holdings, Inc.(a) | 2,138 | 184,766 | ||||||
Buckle, Inc. | 2,555 | 107,514 | ||||||
Caleres, Inc. | 2,545 | 62,963 | ||||||
Camping World Holdings, Inc., Class A | 2,926 | 115,167 | ||||||
CarLotz, Inc.(a)(b) | 2,740 | 12,166 | ||||||
Cato Corp., Class A | 1,422 | 23,463 | ||||||
Chico’s FAS, Inc.(a) | 8,222 | 50,812 | ||||||
Children’s Place, Inc.(a)(b) | 970 | 81,800 | ||||||
Citi Trends, Inc.(a) | 590 | 47,052 | ||||||
Conn’s, Inc.(a) | 1,106 | 24,597 | ||||||
Container Store Group, Inc.(a) | 2,232 | 23,481 | ||||||
Designer Brands, Inc., Class A(a) | 5,645 | 82,248 | ||||||
Dick’s Sporting Goods, Inc. | 4,523 | 471,025 | ||||||
Five Below, Inc.(a) | 3,973 | 772,431 | ||||||
Floor & Decor Holdings, Inc., Class A(a)(b) | 7,276 | 887,745 | ||||||
Foot Locker, Inc. | 6,310 | 360,049 | ||||||
GameStop Corp., Class A(a)(b) | 4,208 | 677,993 | ||||||
Gap, Inc. | 14,747 | 430,170 | ||||||
Genesco, Inc.(a) | 983 | 56,473 | ||||||
Group 1 Automotive, Inc. | 1,331 | 231,248 |
44 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Specialty Retail (continued) | ||||||||
GrowGeneration Corp.(a) | 3,674 | $ | 149,422 | |||||
Guess?, Inc. | 3,686 | 82,272 | ||||||
Haverty Furniture Cos., Inc. | 1,178 | 42,396 | ||||||
Hibbett, Inc. | 1,080 | 95,753 | ||||||
JOANN, Inc.(b) | 747 | 11,549 | ||||||
Kirkland’s, Inc.(a) | 920 | 17,903 | ||||||
Lazydays Holdings, Inc.(a)(b) | 451 | 9,412 | ||||||
Leslie’s, Inc.(a)(b) | 7,488 | 182,333 | ||||||
Lithia Motors, Inc. | 2,072 | 781,600 | ||||||
Lumber Liquidators Holdings, Inc.(a)(b) | 2,032 | 38,771 | ||||||
MarineMax, Inc.(a) | 1,396 | 75,091 | ||||||
Monro, Inc. | 2,498 | 144,884 | ||||||
Murphy USA, Inc. | 1,709 | 252,095 | ||||||
National Vision Holdings, Inc.(a) | 5,937 | 320,479 | ||||||
ODP Corp.(a) | 3,356 | 158,839 | ||||||
OneWater Marine, Inc., Class A | 720 | 33,826 | ||||||
Party City Holdco, Inc.(a) | 7,236 | 61,795 | ||||||
Penske Automotive Group, Inc. | 2,376 | 210,514 | ||||||
Petco Health & Wellness Co., Inc.(a) | 4,967 | 102,469 | ||||||
Rent-A-Center, Inc. | 4,519 | 258,577 | ||||||
RH(a)(b) | 1,229 | 816,154 | ||||||
Sally Beauty Holdings, Inc.(a)(b) | 7,692 | 145,533 | ||||||
Shift Technologies, Inc.(a)(b) | 3,990 | 33,715 | ||||||
Shoe Carnival, Inc. | 1,138 | 38,351 | ||||||
Signet Jewelers Ltd. | 3,534 | 227,378 | ||||||
Sleep Number Corp.(a)(b) | 1,626 | 161,315 | ||||||
Sonic Automotive, Inc., Class A | 1,914 | 104,409 | ||||||
Sportsman’s Warehouse Holdings, Inc.(a) | 2,879 | 50,872 | ||||||
Tilly’s, Inc., Class A | 2,727 | 40,441 | ||||||
TravelCenters of America, Inc.(a) | 795 | 22,991 | ||||||
Urban Outfitters, Inc.(a) | 4,659 | 173,222 | ||||||
Vroom, Inc.(a) | 7,887 | 292,134 | ||||||
Williams-Sonoma, Inc. | 5,344 | 810,685 | ||||||
Winmark Corp. | 221 | 46,591 | ||||||
Zumiez, Inc.(a) | 1,472 | 64,253 | ||||||
|
| |||||||
12,664,941 | ||||||||
Technology Hardware, Storage & Peripherals — 0.4% |
| |||||||
3D Systems Corp.(a)(b) | 8,246 | 227,095 | ||||||
Avid Technology, Inc.(a) | 2,498 | 93,400 | ||||||
Corsair Gaming, Inc.(a) | 1,761 | 51,404 | ||||||
Diebold Nixdorf, Inc.(a)(b) | 4,663 | 48,542 | ||||||
Eastman Kodak Co.(a)(b) | 2,929 | 21,616 | ||||||
NCR Corp.(a) | 9,237 | 410,123 | ||||||
Pure Storage, Inc., Class A(a) | 19,889 | 388,233 | ||||||
Quantum Corp.(a) | 3,627 | 22,487 | ||||||
Super Micro Computer, Inc.(a) | 2,866 | 109,023 | ||||||
Turtle Beach Corp.(a) | 979 | 30,251 | ||||||
Xerox Holdings Corp. | 11,341 | 273,658 | ||||||
|
| |||||||
1,675,832 | ||||||||
Textiles, Apparel & Luxury Goods — 1.5% |
| |||||||
Capri Holdings Ltd.(a) | 10,638 | 599,026 | ||||||
Carter’s, Inc. | 2,918 | 285,205 | ||||||
Columbia Sportswear Co. | 2,820 | 280,928 | ||||||
Crocs, Inc.(a) | 4,596 | 624,183 | ||||||
Deckers Outdoor Corp.(a) | 1,993 | 818,824 | ||||||
Fossil Group, Inc.(a) | 3,222 | 40,662 | ||||||
G-III Apparel Group Ltd.(a)(b) | 3,008 | 89,819 | ||||||
Hanesbrands, Inc. | 25,344 | 462,781 | ||||||
Kontoor Brands, Inc. | 3,526 | 195,270 | ||||||
Movado Group, Inc. | 1,037 | 31,183 |
Security | Shares | Value | ||||||
Textiles, Apparel & Luxury Goods (continued) |
| |||||||
Oxford Industries, Inc. | 1,292 | $ | 112,314 | |||||
PLBY Group, Inc.(a) | 702 | 19,782 | ||||||
PVH Corp.(a) | 5,136 | 537,328 | ||||||
Ralph Lauren Corp. | 3,427 | 389,033 | ||||||
Rocky Brands, Inc. | 446 | 24,262 | ||||||
Skechers USA, Inc., Class A(a) | 9,547 | 512,483 | ||||||
Steven Madden Ltd. | 6,058 | 265,522 | ||||||
Superior Group of Cos., Inc. | 682 | 15,966 | ||||||
Tapestry, Inc.(a) | 19,990 | 845,577 | ||||||
Under Armour, Inc., Class A(a) | 14,181 | 290,001 | ||||||
Under Armour, Inc., Class C(a) | 13,394 | 234,663 | ||||||
Unifi, Inc.(a) | 822 | 19,391 | ||||||
Vera Bradley, Inc.(a) | 1,667 | 18,354 | ||||||
Wolverine World Wide, Inc. | 5,538 | 185,745 | ||||||
|
| |||||||
6,898,302 | ||||||||
Thrifts & Mortgage Finance — 0.8% | ||||||||
Axos Financial, Inc.(a)(b) | 3,841 | 183,792 | ||||||
Bridgewater Bancshares, Inc.(a) | 1,386 | 22,481 | ||||||
Capitol Federal Financial, Inc. | 8,839 | 98,025 | ||||||
Columbia Financial, Inc.(a) | 2,840 | 51,234 | ||||||
Essent Group Ltd. | 8,052 | 363,709 | ||||||
Federal Agricultural Mortgage Corp., Class C | 825 | 80,437 | ||||||
Finance Of America Cos., Inc., Class A(a) | 2,141 | 13,809 | ||||||
Flagstar Bancorp, Inc. | 3,545 | 162,219 | ||||||
FS Bancorp, Inc. | 384 | 13,356 | ||||||
Hingham Institution for Savings | 87 | 26,013 | ||||||
Home Bancorp, Inc. | 574 | 20,159 | ||||||
Home Point Capital, Inc.(a) | 696 | 3,466 | ||||||
HomeStreet, Inc. | 1,307 | 49,287 | ||||||
Kearny Financial Corp. | 5,299 | 63,747 | ||||||
Luther Burbank Corp. | 1,439 | 18,649 | ||||||
Merchants Bancorp | 1,233 | 45,177 | ||||||
Meridian Bancorp, Inc. | 3,207 | 61,286 | ||||||
Meta Financial Group, Inc. | 2,000 | 99,400 | ||||||
MGIC Investment Corp. | 24,782 | 342,983 | ||||||
Mr Cooper Group, Inc.(a) | 4,845 | 180,137 | ||||||
New York Community Bancorp, Inc. | 30,923 | 364,273 | ||||||
NMI Holdings, Inc., Class A(a) | 6,857 | 150,991 | ||||||
Northfield Bancorp, Inc. | 2,802 | 46,093 | ||||||
Northwest Bancshares, Inc. | 7,141 | 95,047 | ||||||
Ocwen Financial Corp.(a) | 521 | 13,624 | ||||||
PCSB Financial Corp. | 942 | 16,994 | ||||||
PennyMac Financial Services, Inc. | 2,403 | 151,125 | ||||||
Pioneer Bancorp, Inc.(a) | 699 | 8,087 | ||||||
Premier Financial Corp. | 3,189 | 85,401 | ||||||
Provident Bancorp, Inc. | 937 | 14,786 | ||||||
Provident Financial Services, Inc. | 4,577 | 98,863 | ||||||
Radian Group, Inc. | 14,062 | 317,520 | ||||||
Southern Missouri Bancorp, Inc. | 443 | 19,882 | ||||||
TFS Financial Corp. | 3,440 | 67,011 | ||||||
TrustCo Bank Corp. | 1,068 | 35,917 | ||||||
UWM Holdings Corp.(b) | 2,807 | 21,417 | ||||||
Velocity Financial Inc.(a) | 531 | 6,717 | ||||||
Walker & Dunlop, Inc. | 1,990 | 205,925 | ||||||
Washington Federal, Inc. | 5,788 | 186,779 | ||||||
Waterstone Financial, Inc. | 1,519 | 29,970 | ||||||
WSFS Financial Corp. | 3,160 | 138,345 | ||||||
|
| |||||||
3,974,133 | ||||||||
Tobacco — 0.1% | ||||||||
22nd Century Group, Inc.(a) | 9,789 | 31,423 |
S C H E D U L E O F I N V E S T M E N T S | 45 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Tobacco (continued) | ||||||||
Turning Point Brands, Inc. | 938 | $ | 49,733 | |||||
Universal Corp. | 1,627 | 84,864 | ||||||
Vector Group Ltd. | 9,873 | 131,903 | ||||||
|
| |||||||
297,923 | ||||||||
Trading Companies & Distributors — 1.0% |
| |||||||
Air Lease Corp. | 7,549 | 319,776 | ||||||
Alta Equipment Group, Inc.(a) | 1,317 | 16,581 | ||||||
Applied Industrial Technologies, Inc. | 2,782 | 249,545 | ||||||
Beacon Roofing Supply, Inc.(a) | 4,035 | 215,792 | ||||||
BlueLinx Holdings, Inc.(a) | 574 | 24,659 | ||||||
Boise Cascade Co. | 3,133 | 160,253 | ||||||
CAI International, Inc. | 1,089 | 60,777 | ||||||
Custom Truck One Source, Inc.(a)(b) | 1,075 | 8,374 | ||||||
DXP Enterprises, Inc.(a) | 1,267 | 41,368 | ||||||
EVI Industries, Inc.(a) | 255 | 6,870 | ||||||
GATX Corp. | 2,392 | 220,662 | ||||||
Global Industrial Co. | 775 | 30,628 | ||||||
GMS, Inc.(a) | 2,811 | 138,104 | ||||||
H&E Equipment Services, Inc. | 2,859 | 97,292 | ||||||
Herc Holdings, Inc.(a) | 1,815 | 225,133 | ||||||
Karat Packaging, Inc.(a) | 226 | 5,028 | ||||||
Lawson Products, Inc.(a) | 284 | 14,907 | ||||||
McGrath RentCorp | 1,570 | 123,119 | ||||||
MRC Global, Inc.(a)(b) | 5,391 | 49,435 | ||||||
MSC Industrial Direct Co., Inc., Class A | 3,293 | 293,637 | ||||||
NOW, Inc.(a) | 7,488 | 73,907 | ||||||
Rush Enterprises, Inc., Class A | 2,782 | 130,726 | ||||||
Rush Enterprises, Inc., Class B | 502 | 22,028 | ||||||
SiteOne Landscape Supply, Inc.(a)(b) | 3,170 | 554,053 | ||||||
Textainer Group Holdings Ltd.(a) | 3,150 | 101,682 | ||||||
Titan Machinery, Inc.(a) | 1,299 | 37,060 | ||||||
Transcat, Inc.(a) | 421 | 26,881 | ||||||
Triton International Ltd. | 4,496 | 237,344 | ||||||
Univar Solutions, Inc.(a) | 12,365 | 303,437 | ||||||
Veritiv Corp.(a) | 1,034 | 63,363 | ||||||
Watsco, Inc. | 2,305 | 651,024 | ||||||
WESCO International, Inc.(a) | 3,235 | 344,366 | ||||||
Willis Lease Finance Corp.(a) | 240 | 9,984 | ||||||
|
| |||||||
4,857,795 | ||||||||
Transportation Infrastructure — 0.0% | ||||||||
Macquarie Infrastructure Corp. | 5,034 | 198,843 | ||||||
|
| |||||||
Water Utilities — 0.4% | ||||||||
American States Water Co. | 2,791 | 246,501 | ||||||
Artesian Resources Corp., Class A | 484 | 18,915 | ||||||
Cadiz, Inc.(a)(b) | 3,115 | 42,208 | ||||||
California Water Service Group | 3,670 | 230,036 | ||||||
Essential Utilities, Inc. | 16,023 | 787,050 | ||||||
Global Water Resources, Inc. | 556 | 9,797 | ||||||
Middlesex Water Co. | 1,224 | 124,530 | ||||||
Pure Cycle Corp.(a) | 1,157 | 17,887 |
Security | Shares | Value | ||||||
Water Utilities (continued) | ||||||||
SJW Group | 2,123 | $ | 146,338 | |||||
York Water Co. | 921 | 44,447 | ||||||
|
| |||||||
1,667,709 | ||||||||
Wireless Telecommunication Services — 0.1% |
| |||||||
Gogo, Inc.(a) | 3,877 | 40,204 | ||||||
Shenandoah Telecommunications Co. | 3,721 | 196,432 | ||||||
Telephone & Data Systems, Inc. | 6,891 | 154,014 | ||||||
United States Cellular Corp.(a)(b) | 1,027 | 37,342 | ||||||
|
| |||||||
427,992 | ||||||||
|
| |||||||
Total Common Stocks — 98.6% | 469,641,728 | |||||||
|
| |||||||
Investment Companies | ||||||||
Equity Funds(e) — 0.9% | ||||||||
iShares Russell 2000 ETF(b) | 12,238 | 2,705,210 | ||||||
iShares Russell Mid-Cap ETF | 22,632 | 1,806,939 | ||||||
|
| |||||||
4,512,149 | ||||||||
|
| |||||||
Total Investment Companies — 0.9% | 4,512,149 | |||||||
|
| |||||||
Total Long-Term Investments — 99.5% | 474,153,877 | |||||||
|
| |||||||
Short-Term Securities | ||||||||
Money Market Funds — 11.8% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%(e)(f)(g) | 37,699,664 | 37,718,513 | ||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.01%(e)(f) | 18,388,584 | 18,388,584 | ||||||
|
| |||||||
Total Short-Term Securities — 11.8% | 56,107,097 | |||||||
|
| |||||||
Total Investments — 111.3% | 530,260,974 | |||||||
Liabilities in Excess of Other Assets — (11.3)% |
| (53,979,932 | ) | |||||
|
| |||||||
Net Assets — 100.0% | $ | 476,281,042 | ||||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(c) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(e) | Affiliate of the Fund. |
(f) | Annualized 7-day yield as of period end. |
(g) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
For Fund compliance purposes, the Fund’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
46 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 07/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 07/31/21 | Shares Held at | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 23,604,101 | $ | 14,130,574 | (a) | $ | — | $ | (1,413 | ) | $ | (14,749 | ) | $ | 37,718,513 | 37,699,664 | $ | 172,002 | (b) | $ | — | |||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares | 1,890,700 | 16,497,884 | (a) | — | — | — | 18,388,584 | 18,388,584 | 1,263 | — | ||||||||||||||||||||||||||
iShares Russell 2000 ETF | 1,054,950 | 41,584,703 | (40,421,284) | 455,364 | 31,477 | 2,705,210 | 12,238 | 25,292 | — | |||||||||||||||||||||||||||
iShares Russell Mid-Cap ETF | 989,672 | 26,745,009 | (26,430,031) | 469,409 | 32,880 | 1,806,939 | 22,632 | 23,187 | — | |||||||||||||||||||||||||||
PennyMac Financial Services, Inc.(c) | 136,238 | 65,971 | (93,134) | 10,754 | 31,296 | N/A | N/A | 1,980 | — | |||||||||||||||||||||||||||
PennyMac Mortgage Investment Trust(c) | 105,447 | 29,731 | (9,636) | (2,977 | ) | 8,889 | N/A | N/A | 11,299 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 931,137 | $ | 89,793 | $ | 60,619,246 | $ | 235,023 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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. |
(c) | As of period end, the entity is no longer an affiliate. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
Description
| Number of
| Expiration
| Notional
| Value/
| ||||||||||||
Long Contracts | ||||||||||||||||
Russell 2000 E-Mini Index | 9 | 09/17/21 | $ | 1,000 | $ | (11,259 | ) | |||||||||
S&P 400 E-Mini Index | 4 | 09/17/21 | 1,079 | 11,697 | ||||||||||||
|
| |||||||||||||||
$ | 438 | |||||||||||||||
|
|
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Assets — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Futures contracts | ||||||||||||||||||||||||||||
Unrealized appreciation on futures contracts(a) | $ | — | $ | — | $ | 11,697 | $ | — | $ | — | $ | — | $ | 11,697 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Futures contracts | ||||||||||||||||||||||||||||
Unrealized depreciation on futures contracts(a) | $ | — | $ | — | $ | 11,259 | $ | — | $ | — | $ | — | $ | 11,259 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
S C H E D U L E O F I N V E S T M E N T S | 47 |
Schedule of Investments (continued) July 31, 2021 | iShares Russell Small/Mid-Cap Index Fund |
For the year ended July 31, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from | ||||||||||||||||||||||||||||
Futures contracts | $ | — | $ | — | $ | 906,853 | $ | — | $ | — | $ | — | $ | 906,853 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on | ||||||||||||||||||||||||||||
Futures contracts | $ | — | $ | — | $ | 1,109 | $ | — | $ | — | $ | — | $ | 1,109 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
Futures contracts | ||||
Average notional value of contracts — long | $ | 2,428,314 | ||
Average notional value of contracts — short
| $
| —
| (a)
|
(a) | Derivative not held at any quarter-end. The risk exposure table serves as an indicator of activity during the period. |
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to 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 | $ | 469,639,730 | $ | — | $ | 1,998 | $ | 469,641,728 | ||||||||
Investment Companies | 4,512,149 | — | — | 4,512,149 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 56,107,097 | — | — | 56,107,097 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 530,258,976 | $ | — | $ | 1,998 | $ | 530,260,974 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(a) | ||||||||||||||||
Assets | ||||||||||||||||
Equity Contracts | $ | 11,697 | $ | — | $ | — | $ | 11,697 | ||||||||
Liabilities | ||||||||||||||||
Equity Contracts | (11,259 | ) | — | — | (11,259 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 438 | $ | — | $ | — | $ | 438 | |||||||||
|
|
|
|
|
|
|
|
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
48 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Aerospace & Defense — 1.5% | ||||||||
AAR Corp.(a) | 1,832 | $ | 65,512 | |||||
Aerojet Rocketdyne Holdings, Inc. | 3,820 | 180,228 | ||||||
AeroVironment, Inc.(a)(b) | 1,173 | 118,590 | ||||||
Astronics Corp.(a) | 802 | 13,698 | ||||||
Axon Enterprise, Inc.(a) | 3,368 | 626,515 | ||||||
Boeing Co.(a) | 28,154 | 6,376,318 | ||||||
BWX Technologies, Inc. | 4,874 | 279,914 | ||||||
Byrna Technologies, Inc.(a) | 889 | 21,336 | ||||||
Curtiss-Wright Corp. | 2,060 | 243,698 | ||||||
Ducommun, Inc.(a) | 463 | 24,979 | ||||||
General Dynamics Corp. | 12,910 | 2,530,747 | ||||||
HEICO Corp. | 2,244 | 303,501 | ||||||
HEICO Corp., Class A | 4,056 | 491,952 | ||||||
Hexcel Corp.(a) | 4,318 | 234,986 | ||||||
Howmet Aerospace, Inc. | 20,574 | 675,239 | ||||||
Huntington Ingalls Industries, Inc. | 2,107 | 432,209 | ||||||
Kaman Corp. | 1,670 | 74,065 | ||||||
Kratos Defense & Security Solutions, Inc.(a) | 6,472 | 176,038 | ||||||
L3Harris Technologies, Inc. | 10,505 | 2,381,904 | ||||||
Lockheed Martin Corp. | 13,052 | 4,851,037 | ||||||
Maxar Technologies, Inc. | 3,672 | 133,184 | ||||||
Mercury Systems, Inc.(a) | 2,730 | 180,180 | ||||||
Moog, Inc., Class A | 1,532 | 119,297 | ||||||
National Presto Industries, Inc. | 228 | 21,997 | ||||||
Northrop Grumman Corp. | 7,766 | 2,819,213 | ||||||
PAE, Inc.(a) | 2,523 | 22,505 | ||||||
Park Aerospace Corp. | 658 | 9,804 | ||||||
Parsons Corp.(a) | 1,324 | 51,133 | ||||||
Raytheon Technologies Corp. | 78,135 | 6,793,838 | ||||||
Spirit AeroSystems Holdings, Inc., Class A | 5,385 | 232,686 | ||||||
Teledyne Technologies, Inc.(a) | 2,315 | 1,048,163 | ||||||
Textron, Inc. | 11,733 | 809,694 | ||||||
TransDigm Group, Inc.(a) | 2,673 | 1,713,634 | ||||||
Triumph Group, Inc.(a) | 2,767 | 52,711 | ||||||
Vectrus, Inc.(a) | 359 | 16,259 | ||||||
Virgin Galactic Holdings Inc.(a)(b) | 7,283 | 218,417 | ||||||
|
| |||||||
34,345,181 | ||||||||
Air Freight & Logistics — 0.6% | ||||||||
Air Transport Services Group, Inc.(a) | 3,269 | 79,110 | ||||||
Atlas Air Worldwide Holdings, Inc.(a) | 1,506 | 100,857 | ||||||
C.H. Robinson Worldwide, Inc. | 6,883 | 613,757 | ||||||
Echo Global Logistics, Inc.(a) | 852 | 26,352 | ||||||
Expeditors International of Washington, Inc. | 8,706 | 1,116,545 | ||||||
FedEx Corp. | 12,632 | 3,536,328 | ||||||
Forward Air Corp. | 1,607 | 142,123 | ||||||
Hub Group, Inc., Class A(a) | 1,752 | 116,123 | ||||||
Radiant Logistics, Inc.(a) | 1,065 | 6,624 | ||||||
United Parcel Service, Inc., Class B | 37,822 | 7,237,618 | ||||||
XPO Logistics, Inc.(a) | 5,048 | 700,107 | ||||||
|
| |||||||
13,675,544 | ||||||||
Airlines(a) — 0.2% | ||||||||
Alaska Air Group, Inc. | 6,145 | 356,594 | ||||||
Allegiant Travel Co. | 769 | 146,202 | ||||||
American Airlines Group, Inc. | 32,338 | 659,048 | ||||||
Copa Holdings SA, Class A | 1,661 | 117,782 | ||||||
Delta Air Lines, Inc. | 32,548 | 1,298,665 | ||||||
Frontier Group Holdings, Inc. | 1,674 | 24,675 | ||||||
Hawaiian Holdings, Inc. | 2,898 | 57,178 | ||||||
JetBlue Airways Corp. | 15,938 | 235,723 |
Security | Shares | Value | ||||||
Airlines (continued) | ||||||||
Mesa Air Group, Inc. | 1,258 | $ | 11,221 | |||||
SkyWest, Inc. | 2,859 | 115,761 | ||||||
Southwest Airlines Co. | 30,656 | 1,548,741 | ||||||
Spirit Airlines, Inc. | 5,015 | 135,305 | ||||||
Sun Country Airlines Holdings, Inc. | 884 | 28,721 | ||||||
United Airlines Holdings, Inc. | 17,037 | 795,969 | ||||||
|
| |||||||
5,531,585 | ||||||||
Auto Components — 0.3% | ||||||||
Adient PLC(a) | 4,947 | 208,417 | ||||||
American Axle & Manufacturing Holdings, Inc.(a) | 6,123 | 59,332 | ||||||
Aptiv PLC(a) | 13,908 | 2,320,550 | ||||||
BorgWarner, Inc. | 12,378 | 606,274 | ||||||
Cooper-Standard Holdings, Inc.(a) | 597 | 15,552 | ||||||
Dana, Inc. | 7,592 | 183,423 | ||||||
Dorman Products, Inc.(a) | 1,364 | 137,969 | ||||||
Fox Factory Holding Corp.(a) | 2,189 | 353,611 | ||||||
Gentex Corp. | 12,610 | 429,118 | ||||||
Gentherm, Inc.(a) | 1,641 | 136,088 | ||||||
Goodyear Tire & Rubber Co.(a) | 13,978 | 219,594 | ||||||
LCI Industries | 1,265 | 184,462 | ||||||
Lear Corp. | 3,068 | 536,839 | ||||||
Modine Manufacturing Co.(a)(b) | 3,006 | 50,290 | ||||||
Motorcar Parts of America, Inc.(a) | 702 | 15,613 | ||||||
Patrick Industries, Inc. | 988 | 81,638 | ||||||
QuantumScape Corp.(a)(b) | 5,835 | 133,680 | ||||||
Standard Motor Products, Inc. | 1,011 | 42,219 | ||||||
Stoneridge, Inc.(a) | 1,548 | 44,815 | ||||||
Tenneco, Inc., Class A(a) | 3,547 | 61,753 | ||||||
Visteon Corp.(a) | 1,357 | 154,766 | ||||||
XL Fleet Corp.(a)(b) | 2,774 | 19,363 | ||||||
XPEL Inc.(a)(b) | 1,008 | 93,341 | ||||||
|
| |||||||
6,088,707 | ||||||||
Automobiles — 1.5% | ||||||||
Arcimoto, Inc.(a)(b) | 1,593 | 26,046 | ||||||
Canoo, Inc.(a)(b) | 4,079 | 33,162 | ||||||
Fisker, Inc.(a) | 7,931 | 127,848 | ||||||
Ford Motor Co.(a) | 209,849 | 2,927,393 | ||||||
General Motors Co.(a) | 72,927 | 4,145,171 | ||||||
Harley-Davidson, Inc. | 8,128 | 322,031 | ||||||
Lordstown Motors Corp., Class A(a) | 5,606 | 34,981 | ||||||
Tesla, Inc.(a) | 40,269 | 27,672,857 | ||||||
Thor Industries, Inc. | 2,733 | 323,478 | ||||||
Winnebago Industries, Inc. | 1,510 | 108,524 | ||||||
Workhorse Group, Inc.(a)(b) | 6,200 | 71,548 | ||||||
|
| |||||||
35,793,039 | ||||||||
Banks — 4.1% | ||||||||
1st Source Corp. | 2,496 | 114,292 | ||||||
Allegiance Bancshares, Inc. | 408 | 14,880 | ||||||
Altabancorp | 977 | 39,461 | ||||||
Amalgamated Financial Corp. | 666 | 10,230 | ||||||
Amerant Bancorp, Inc.(a) | 643 | 14,242 | ||||||
American National Bankshares, Inc. | 234 | 7,392 | ||||||
Ameris Bancorp | 2,122 | 103,150 | ||||||
Arrow Financial Corp. | 482 | 17,376 | ||||||
Associated Banc-Corp. | 9,965 | 197,307 | ||||||
Atlantic Capital Bancshares, Inc.(a) | 685 | 16,440 | ||||||
Atlantic Union Bankshares Corp. | 5,090 | 180,542 | ||||||
Banc of California, Inc. | 1,360 | 23,283 | ||||||
BancFirst Corp. | 4,104 | 227,690 | ||||||
Bancorp, Inc.(a) | 1,904 | 44,497 | ||||||
BancorpSouth Bank | 6,292 | 162,334 |
S C H E D U L E O F I N V E S T M E N T S | 49 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Bank First Corp. | 309 | $ | 21,627 | |||||
Bank of America Corp. | 393,222 | 15,083,996 | ||||||
Bank of Hawaii Corp. | 2,202 | 184,329 | ||||||
Bank of Marin Bancorp | 316 | 10,965 | ||||||
Bank of NT Butterfield & Son Ltd. | 2,766 | 91,665 | ||||||
Bank OZK | 6,510 | 265,022 | ||||||
BankUnited, Inc. | 3,569 | 141,261 | ||||||
Banner Corp. | 981 | 52,032 | ||||||
Bar Harbor Bankshares | 399 | 11,427 | ||||||
Berkshire Hills Bancorp, Inc. | 2,000 | 54,080 | ||||||
Blue Ridge Bankshares, Inc.(b) | 1,301 | 22,286 | ||||||
BOK Financial Corp. | 1,851 | 155,503 | ||||||
Brookline Bancorp, Inc. | 2,260 | 32,476 | ||||||
Bryn Mawr Bank Corp. | 1,866 | 73,017 | ||||||
Business First Bancshares, Inc. | 1,155 | 26,923 | ||||||
Byline Bancorp, Inc. | 1,662 | 40,902 | ||||||
Cadence BanCorp | 4,445 | 84,455 | ||||||
Cambridge Bancorp | 245 | 20,967 | ||||||
Camden National Corp. | 528 | 23,639 | ||||||
Capital Bancorp, Inc. | 643 | 14,609 | ||||||
Capital City Bank Group, Inc. | 363 | 8,835 | ||||||
Capstar Financial Holdings, Inc. | 1,127 | 23,892 | ||||||
Carter Bankshares, Inc.(a) | 1,048 | 12,021 | ||||||
Cathay General Bancorp | 5,815 | 220,214 | ||||||
CBTX, Inc. | 506 | 13,308 | ||||||
Central Pacific Financial Corp. | 427 | 10,931 | ||||||
Century Bancorp, Inc., Class A | 231 | 26,422 | ||||||
CIT Group, Inc. | 5,070 | 244,577 | ||||||
Citigroup, Inc. | 108,462 | 7,334,200 | ||||||
Citizens & Northern Corp. | 381 | 9,411 | ||||||
Citizens Financial Group, Inc. | 22,454 | 946,661 | ||||||
City Holding Co. | 442 | 33,442 | ||||||
Civista Bancshares, Inc. | 808 | 18,495 | ||||||
CNB Financial Corp. | 283 | 6,526 | ||||||
Coastal Financial Corp.(a) | 714 | 20,863 | ||||||
Columbia Banking System, Inc. | 2,735 | 95,561 | ||||||
Comerica, Inc. | 7,268 | 499,021 | ||||||
Commerce Bancshares, Inc. | 5,753 | 406,910 | ||||||
Community Bank System, Inc. | 1,925 | 137,907 | ||||||
Community Trust Bancorp, Inc. | 2,423 | 96,339 | ||||||
ConnectOne Bancorp, Inc. | 2,102 | 55,283 | ||||||
CrossFirst Bankshares, Inc.(a) | 2,745 | 37,908 | ||||||
Cullen/Frost Bankers, Inc. | 3,216 | 345,141 | ||||||
Customers Bancorp, Inc.(a) | 1,074 | 38,900 | ||||||
CVB Financial Corp. | 5,185 | 98,826 | ||||||
Dime Community Bancshares, Inc. | 1,767 | 58,346 | ||||||
Eagle Bancorp, Inc. | 1,044 | 57,451 | ||||||
East West Bancorp, Inc. | 7,185 | 511,213 | ||||||
Eastern Bankshares, Inc. | 8,813 | 160,837 | ||||||
Enterprise Bancorp, Inc. | 214 | 6,998 | ||||||
Enterprise Financial Services Corp. | 1,968 | 87,714 | ||||||
Equity Bancshares, Inc., Class A(a) | 361 | 10,635 | ||||||
Farmers National Banc Corp. | 1,865 | 28,628 | ||||||
FB Financial Corp. | 1,697 | 64,164 | ||||||
Fidelity D&D Bancorp, Inc. | 168 | 8,568 | ||||||
Fifth Third Bancorp | 36,734 | 1,333,077 | ||||||
Financial Institutions, Inc. | 439 | 12,924 | ||||||
First Bancorp, Inc. | 314 | 9,125 | ||||||
First BanCorp, Puerto Rico | 5,214 | 63,246 | ||||||
First Bancorp/Southern Pines NC | 897 | 35,880 | ||||||
First Bancshares, Inc. | 1,176 | 45,358 | ||||||
First Bank/Hamilton | 1,767 | 23,545 | ||||||
First Busey Corp. | 4,173 | 98,483 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
First Citizens BancShares, Inc., Class A | 304 | $ | 237,907 | |||||
First Commonwealth Financial Corp. | 3,047 | 40,129 | ||||||
First Community Bancshares, Inc. | 576 | 16,819 | ||||||
First Financial Bancorp | 3,534 | 79,515 | ||||||
First Financial Bankshares, Inc. | 6,582 | 321,465 | ||||||
First Financial Corp. | 515 | 20,626 | ||||||
First Foundation, Inc. | 2,299 | 54,187 | ||||||
First Hawaiian, Inc. | 7,256 | 199,758 | ||||||
First Horizon Corp. | 28,043 | 433,264 | ||||||
First Internet Bancorp | 258 | 7,812 | ||||||
First Interstate Bancsystem, Inc., Class A | 2,789 | 116,915 | ||||||
First Merchants Corp. | 2,981 | 121,416 | ||||||
First Mid Bancshares, Inc. | 847 | 34,464 | ||||||
First Midwest Bancorp, Inc. | 3,526 | 63,256 | ||||||
First of Long Island Corp. | 1,705 | 36,743 | ||||||
First Republic Bank | 9,048 | 1,764,541 | ||||||
Flushing Financial Corp. | 1,802 | 39,734 | ||||||
FNB Corp. | 21,005 | 240,717 | ||||||
Fulton Financial Corp. | 11,311 | 173,285 | ||||||
German American Bancorp, Inc. | 1,941 | 73,176 | ||||||
Glacier Bancorp, Inc. | 5,216 | 268,937 | ||||||
Great Southern Bancorp, Inc. | 1,869 | 97,244 | ||||||
Great Western Bancorp, Inc. | 1,846 | 56,857 | ||||||
Guaranty Bancshares, Inc. | 297 | 9,935 | ||||||
Hancock Whitney Corp. | 4,507 | 197,001 | ||||||
Hanmi Financial Corp. | 907 | 16,535 | ||||||
HarborOne Bancorp, Inc. | 5,315 | 72,337 | ||||||
Heartland Financial USA, Inc. | 2,318 | 105,747 | ||||||
Heritage Commerce Corp. | 3,436 | 37,246 | ||||||
Heritage Financial Corp. | 1,053 | 25,472 | ||||||
Hilltop Holdings, Inc. | 3,539 | 112,116 | ||||||
Home BancShares, Inc. | 8,335 | 176,535 | ||||||
HomeTrust Bancshares, Inc. | 642 | 16,904 | ||||||
Hope Bancorp, Inc. | 3,638 | 48,204 | ||||||
Horizon Bancorp, Inc. | 2,632 | 43,981 | ||||||
Howard Bancorp, Inc.(a) | 467 | 9,200 | ||||||
Huntington Bancshares, Inc. | 76,086 | 1,071,291 | ||||||
Independent Bank Corp. | 2,109 | 104,131 | ||||||
Independent Bank Group, Inc. | 1,861 | 129,712 | ||||||
International Bancshares Corp. | 3,311 | 129,394 | ||||||
Investors Bancorp, Inc. | 8,514 | 117,664 | ||||||
JPMorgan Chase & Co. | 155,900 | 23,662,502 | ||||||
KeyCorp | 51,297 | 1,008,499 | ||||||
Lakeland Bancorp, Inc. | 4,929 | 80,688 | ||||||
Lakeland Financial Corp. | 1,121 | 74,961 | ||||||
Live Oak Bancshares, Inc.(b) | 1,658 | 99,795 | ||||||
M&T Bank Corp. | 6,852 | 917,140 | ||||||
Macatawa Bank Corp. | 816 | 6,789 | ||||||
Mercantile Bank Corp. | 497 | 15,531 | ||||||
Metrocity Bankshares, Inc. | 765 | 15,277 | ||||||
Metropolitan Bank Holding Corp.(a) | 533 | 37,859 | ||||||
Mid Penn Bancorp, Inc. | 806 | 20,996 | ||||||
Midland States Bancorp, Inc. | 963 | 23,699 | ||||||
MidWestOne Financial Group, Inc. | 1,021 | 29,742 | ||||||
MVB Financial Corp. | 865 | 35,854 | ||||||
National Bank Holdings Corp., Class A | 890 | 31,559 | ||||||
NBT Bancorp, Inc. | 1,281 | 44,643 | ||||||
Nicolet Bankshares, Inc.(a) | 324 | 23,454 | ||||||
Northrim BanCorp, Inc. | 226 | 9,225 | ||||||
OceanFirst Financial Corp. | 4,668 | 91,026 | ||||||
OFG Bancorp | 1,912 | 44,167 | ||||||
Old National Bancorp | 5,681 | 91,407 | ||||||
Old Second Bancorp, Inc. | 606 | 7,018 |
50 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
Origin Bancorp, Inc. | 1,892 | $ | 76,967 | |||||
Orrstown Financial Services, Inc. | 348 | 8,021 | ||||||
Pacific Premier Bancorp, Inc. | 3,852 | 146,299 | ||||||
PacWest Bancorp | 6,105 | 243,101 | ||||||
Park National Corp. | 615 | 70,055 | ||||||
Peapack Gladstone Financial Corp. | 1,216 | 39,167 | ||||||
Peoples Bancorp, Inc. | 664 | 19,581 | ||||||
Peoples Financial Services Corp. | 546 | 23,423 | ||||||
People’s United Financial, Inc. | 22,583 | 354,553 | ||||||
Pinnacle Financial Partners, Inc. | 3,804 | 340,876 | ||||||
PNC Financial Services Group, Inc. | 21,938 | 4,001,711 | ||||||
Popular, Inc. | 4,240 | 308,502 | ||||||
Preferred Bank/Los Angeles CA | 405 | 23,887 | ||||||
Premier Financial Bancorp, Inc. | 500 | 8,510 | ||||||
Primis Financial Corp. | 1,942 | 30,198 | ||||||
Prosperity Bancshares, Inc. | 4,716 | 321,584 | ||||||
QCR Holdings, Inc. | 904 | 44,377 | ||||||
RBB Bancorp | 350 | 8,376 | ||||||
Red River Bancshares, Inc. | 282 | 14,368 | ||||||
Regions Financial Corp. | 50,841 | 978,689 | ||||||
Reliant Bancorp, Inc. | 1,151 | 31,998 | ||||||
Renasant Corp. | 1,899 | 66,807 | ||||||
Republic Bancorp, Inc., Class A | 204 | 9,947 | ||||||
Republic First Bancorp, Inc.(a) | 1,213 | 4,476 | ||||||
S&T Bancorp, Inc. | 1,347 | 39,669 | ||||||
Sandy Spring Bancorp, Inc. | 2,975 | 123,730 | ||||||
Seacoast Banking Corp. of Florida | 1,610 | 48,928 | ||||||
ServisFirst Bancshares, Inc. | 2,594 | 184,382 | ||||||
Sierra Bancorp | 304 | 7,336 | ||||||
Signature Bank | 2,955 | 670,696 | ||||||
Silvergate Capital Corp., Class A(a) | 1,152 | 118,426 | ||||||
Simmons First National Corp., Class A | 3,421 | 93,120 | ||||||
SmartFinancial, Inc. | 348 | 8,481 | ||||||
South State Corp. | 3,665 | 252,299 | ||||||
Southern First Bancshares, Inc.(a) | 161 | 7,974 | ||||||
Southside Bancshares, Inc. | 1,208 | 43,536 | ||||||
Spirit of Texas Bancshares, Inc. | 929 | 21,627 | ||||||
Sterling Bancorp | 9,812 | 213,019 | ||||||
Stock Yards Bancorp, Inc. | 1,115 | 53,119 | ||||||
Summit Financial Group, Inc. | 488 | 11,346 | ||||||
SVB Financial Group(a)(b) | 3,087 | 1,697,727 | ||||||
Synovus Financial Corp. | 7,747 | 316,852 | ||||||
Texas Capital Bancshares, Inc.(a) | 2,636 | 166,015 | ||||||
Tompkins Financial Corp. | 571 | 43,824 | ||||||
TowneBank | 6,068 | 180,887 | ||||||
Trico Bancshares | 1,297 | 51,141 | ||||||
TriState Capital Holdings, Inc.(a) | 1,824 | 37,045 | ||||||
Triumph Bancorp, Inc.(a) | 1,117 | 85,629 | ||||||
Truist Financial Corp. | 69,558 | 3,786,042 | ||||||
Trustmark Corp. | 3,530 | 105,971 | ||||||
U.S. Bancorp | 69,446 | 3,857,031 | ||||||
UMB Financial Corp. | 2,209 | 206,762 | ||||||
Umpqua Holdings Corp. | 13,358 | 252,065 | ||||||
United Bankshares, Inc. | 6,354 | 219,467 | ||||||
United Community Banks, Inc. | 2,390 | 68,856 | ||||||
Univest Financial Corp. | 4,249 | 116,253 | ||||||
Valley National Bancorp | 22,509 | 290,141 | ||||||
Veritex Holdings, Inc. | 1,506 | 50,526 | ||||||
Washington Trust Bancorp, Inc. | 832 | 40,560 | ||||||
Webster Financial Corp. | 4,629 | 222,655 | ||||||
Wells Fargo & Co. | 215,794 | 9,913,576 | ||||||
WesBanco, Inc. | 4,292 | 138,546 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
West BanCorp., Inc. | 346 | $ | 10,200 | |||||
Westamerica BanCorp | 987 | 54,828 | ||||||
Western Alliance Bancorp | 5,121 | 475,331 | ||||||
Wintrust Financial Corp. | 3,001 | 214,271 | ||||||
Zions Bancorp NA | 8,399 | 438,008 | ||||||
|
| |||||||
96,349,456 | ||||||||
Beverages — 1.3% | ||||||||
Boston Beer Co., Inc., Class A(a) | 470 | 333,700 | ||||||
Brown-Forman Corp., Class A | 2,241 | 149,900 | ||||||
Brown-Forman Corp., Class B | 9,430 | 668,776 | ||||||
Celsius Holdings, Inc.(a) | 2,284 | 156,751 | ||||||
Coca-Cola Co. | 201,863 | 11,512,247 | ||||||
Coca-Cola Consolidated, Inc.(b) | 267 | 106,573 | ||||||
Constellation Brands, Inc., Class A | 8,382 | 1,880,418 | ||||||
Duckhorn Portfolio, Inc.(a) | 1,097 | 24,101 | ||||||
Keurig Dr Pepper, Inc. | 36,017 | 1,268,159 | ||||||
MGP Ingredients, Inc. | 794 | 47,362 | ||||||
Molson Coors Beverage Co., Class B | 9,125 | 446,121 | ||||||
Monster Beverage Corp.(a) | 19,287 | 1,819,150 | ||||||
National Beverage Corp. | 1,082 | 49,101 | ||||||
NewAge, Inc.(a) | 4,799 | 9,166 | ||||||
PepsiCo, Inc. | 71,724 | 11,257,082 | ||||||
Primo Water Corp. | 8,535 | 141,083 | ||||||
|
| |||||||
29,869,690 | ||||||||
Biotechnology — 2.6% | ||||||||
4D Molecular Therapeutics, Inc.(a) | 982 | 24,422 | ||||||
89bio, Inc.(a) | 289 | 4,526 | ||||||
AbbVie, Inc. | 92,038 | 10,704,019 | ||||||
ACADIA Pharmaceuticals, Inc.(a) | 6,095 | 131,835 | ||||||
Acceleron Pharma, Inc.(a) | 2,698 | 337,412 | ||||||
Aduro Biotech, Inc.(a)(c) | 400 | 1,200 | ||||||
Adverum Biotechnologies, Inc.(a) | 3,722 | 8,449 | ||||||
Aeglea BioTherapeutics, Inc.(a) | 2,074 | 12,714 | ||||||
Affimed NV(a)(b) | 6,814 | 45,313 | ||||||
Agenus, Inc.(a) | 8,555 | 44,315 | ||||||
Agios Pharmaceuticals, Inc.(a)(b) | 2,966 | 142,635 | ||||||
Akebia Therapeutics, Inc.(a) | 4,847 | 11,972 | ||||||
Akero Therapeutics, Inc.(a)(b) | 963 | 20,647 | ||||||
Akouos, Inc.(a)(b) | 2,027 | 22,033 | ||||||
Albireo Pharma, Inc.(a) | 609 | 17,423 | ||||||
Aldeyra Therapeutics, Inc.(a) | 2,558 | 22,766 | ||||||
Alector, Inc.(a)(b) | 2,986 | 71,768 | ||||||
Aligos Therapeutics, Inc.(a) | 956 | 13,929 | ||||||
Alkermes PLC(a) | 8,411 | 217,593 | ||||||
Allakos, Inc.(a) | 1,767 | 140,583 | ||||||
Allogene Therapeutics, Inc.(a) | 3,795 | 83,300 | ||||||
Allovir, Inc.(a) | 1,851 | 35,428 | ||||||
Alnylam Pharmaceuticals, Inc.(a) | 6,066 | 1,085,450 | ||||||
Altimmune, Inc.(a) | 1,708 | 15,492 | ||||||
ALX Oncology Holdings, Inc.(a) | 841 | 49,249 | ||||||
Amgen, Inc. | 30,076 | 7,264,557 | ||||||
Amicus Therapeutics, Inc.(a) | 13,772 | 127,942 | ||||||
AnaptysBio, Inc.(a) | 865 | 19,878 | ||||||
Anavex Life Sciences Corp.(a)(b) | 3,482 | 62,502 | ||||||
Anika Therapeutics, Inc.(a) | 494 | 19,824 | ||||||
Annexon, Inc.(a)(b) | 2,127 | 44,795 | ||||||
Apellis Pharmaceuticals, Inc.(a)(b) | 3,281 | 209,951 | ||||||
Applied Molecular Transport, Inc.(a) | 933 | 26,152 | ||||||
Applied Therapeutics, Inc.(a) | 1,299 | 22,356 | ||||||
AquaBounty Technologies, Inc.(a) | 3,889 | 19,251 | ||||||
Arcturus Therapeutics Holdings, Inc.(a) | 826 | 25,862 | ||||||
Arcus Biosciences, Inc.(a) | 2,050 | 64,390 |
S C H E D U L E O F I N V E S T M E N T S | 51 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Arcutis Biotherapeutics, Inc.(a) | 1,650 | $ | 38,494 | |||||
Ardelyx, Inc.(a)(b) | 5,313 | 9,245 | ||||||
Arena Pharmaceuticals, Inc.(a) | 3,126 | 193,374 | ||||||
Arrowhead Pharmaceuticals, Inc.(a) | 5,140 | 356,151 | ||||||
Atara Biotherapeutics, Inc.(a) | 4,529 | 57,745 | ||||||
Athenex, Inc.(a) | 2,643 | 9,964 | ||||||
Athersys, Inc.(a) | 6,963 | 11,350 | ||||||
Atossa Therapeutics, Inc.(a)(b) | 6,050 | 18,089 | ||||||
Atreca, Inc., Class A(a)(b) | 1,687 | 9,262 | ||||||
Avid Bioservices, Inc.(a)(b) | 3,513 | 90,108 | ||||||
Avidity Biosciences, Inc.(a)(b) | 1,781 | 34,391 | ||||||
Avita Medical, Inc.(a) | 1,264 | 23,422 | ||||||
Avrobio, Inc.(a) | 1,777 | 13,079 | ||||||
Beam Therapeutics, Inc.(a) | 2,369 | 217,948 | ||||||
Beyondspring, Inc.(a)(b) | 425 | 4,046 | ||||||
BioAtla, Inc.(a)(b) | 811 | 33,243 | ||||||
BioCryst Pharmaceuticals, Inc.(a) | 9,050 | 145,886 | ||||||
Biogen, Inc.(a) | 7,725 | 2,523,989 | ||||||
Biohaven Pharmaceutical Holding Co. Ltd.(a) | 2,731 | 344,133 | ||||||
BioMarin Pharmaceutical, Inc.(a) | 9,563 | 733,769 | ||||||
Bioxcel Therapeutics, Inc.(a) | 1,041 | 26,639 | ||||||
Black Diamond Therapeutics, Inc.(a)(b) | 546 | 5,220 | ||||||
Bluebird Bio, Inc.(a)(b) | 3,578 | 90,917 | ||||||
Blueprint Medicines Corp.(a) | 3,002 | 263,786 | ||||||
Bolt Biotherapeutics, Inc.(a) | 1,119 | 12,477 | ||||||
Bridgebio Pharma, Inc.(a)(b) | 5,402 | 288,737 | ||||||
C4 Therapeutics, Inc.(a) | 1,786 | 77,048 | ||||||
Cardiff Oncology, Inc.(a) | 2,894 | 15,396 | ||||||
CareDx, Inc.(a) | 2,536 | 213,125 | ||||||
Catalyst Pharmaceuticals, Inc.(a) | 2,952 | 17,240 | ||||||
Celldex Therapeutics, Inc.(a) | 1,973 | 86,319 | ||||||
CEL-SCI Corp.(a)(b) | 2,268 | 18,212 | ||||||
Cerevel Therapeutics Holdings, Inc.(a) | 1,820 | 44,845 | ||||||
ChemoCentryx, Inc.(a)(b) | 3,416 | 50,488 | ||||||
Chimerix, Inc.(a)(b) | 2,973 | 19,711 | ||||||
Chinook Therapeutics, Inc.(a) | 1,931 | 25,161 | ||||||
Clene, Inc.(a)(b) | 2,307 | 19,840 | ||||||
Clovis Oncology, Inc.(a)(b) | 3,846 | 18,576 | ||||||
Codiak Biosciences, Inc.(a) | 1,043 | 18,044 | ||||||
Cogent Biosciences, Inc.(a) | 2,592 | 15,552 | ||||||
Coherus Biosciences, Inc.(a)(b) | 3,643 | 47,541 | ||||||
Cortexyme, Inc.(a) | 1,076 | 60,805 | ||||||
Crinetics Pharmaceuticals, Inc.(a) | 1,292 | 23,230 | ||||||
Cue Biopharma, Inc.(a) | 690 | 7,190 | ||||||
Cullinan Oncology, Inc.(a) | 976 | 22,380 | ||||||
CureVac NV(a)(b) | 2,682 | 132,115 | ||||||
Curis, Inc.(a) | 4,358 | 33,077 | ||||||
Cytokinetics, Inc.(a) | 3,749 | 111,270 | ||||||
CytomX Therapeutics, Inc.(a) | 4,560 | 24,670 | ||||||
Deciphera Pharmaceuticals, Inc.(a) | 2,226 | 67,871 | ||||||
Denali Therapeutics, Inc.(a) | 4,581 | 233,768 | ||||||
DermTech, Inc.(a)(b) | 1,193 | 40,156 | ||||||
Design Therapeutics, Inc.(a) | 954 | 14,768 | ||||||
Dicerna Pharmaceuticals, Inc.(a) | 3,662 | 137,362 | ||||||
Dynavax Technologies Corp.(a) | 6,384 | 59,627 | ||||||
Dyne Therapeutics, Inc.(a) | 1,550 | 28,008 | ||||||
Eagle Pharmaceuticals, Inc.(a) | 611 | 28,411 | ||||||
Editas Medicine, Inc.(a)(b) | 3,324 | 139,143 | ||||||
Eiger Biopharmaceuticals, Inc.(a) | 1,014 | 8,071 | ||||||
Emergent BioSolutions, Inc.(a) | 2,504 | 165,014 | ||||||
Enanta Pharmaceuticals, Inc.(a) | 870 | 36,757 | ||||||
Epizyme, Inc.(a) | 3,608 | 23,921 | ||||||
Evelo Biosciences, Inc.(a) | 1,111 | 10,232 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Exact Sciences Corp.(a) | 8,863 | $ | 955,786 | |||||
Exelixis, Inc.(a) | 15,959 | 268,909 | ||||||
Fate Therapeutics, Inc.(a) | 4,192 | 347,098 | ||||||
FibroGen, Inc.(a) | 4,502 | 58,526 | ||||||
Flexion Therapeutics, Inc.(a)(b) | 2,257 | 13,384 | ||||||
Foghorn Therapeutics, Inc.(a) | 2,424 | 21,986 | ||||||
Forma Therapeutics Holdings, Inc.(a)(b) | 1,944 | 44,498 | ||||||
Forte Biosciences, Inc.(a) | 598 | 17,916 | ||||||
Fortress Biotech, Inc.(a) | 6,297 | 19,584 | ||||||
Frequency Therapeutics, Inc.(a) | 1,215 | 10,121 | ||||||
G1 Therapeutics, Inc.(a)(b) | 2,234 | 38,671 | ||||||
Generation Bio Co.(a)(b) | 1,780 | 38,697 | ||||||
Geron Corp.(a)(b) | 13,028 | 15,894 | ||||||
Gilead Sciences, Inc. | 66,414 | 4,535,412 | ||||||
Global Blood Therapeutics, Inc.(a) | 3,164 | 86,472 | ||||||
Gossamer Bio, Inc.(a) | 2,626 | 20,640 | ||||||
Gritstone bio, Inc.(a) | 1,243 | 8,303 | ||||||
Halozyme Therapeutics, Inc.(a) | 7,110 | 293,856 | ||||||
Harpoon Therapeutics, Inc.(a) | 690 | 6,755 | ||||||
Heron Therapeutics, Inc.(a) | 5,088 | 62,888 | ||||||
Homology Medicines, Inc.(a) | 2,223 | 14,138 | ||||||
Horizon Therapeutics PLC(a) | 11,046 | 1,104,821 | ||||||
Humanigen, Inc.(a)(b) | 2,325 | 37,479 | ||||||
iBio, Inc.(a)(b) | 16,470 | 20,423 | ||||||
Ideaya Biosciences, Inc.(a) | 1,859 | 45,545 | ||||||
IGM Biosciences, Inc.(a)(b) | 534 | 36,317 | ||||||
ImmunityBio, Inc.(a)(b) | 3,425 | 37,538 | ||||||
ImmunoGen, Inc.(a) | 10,990 | 61,654 | ||||||
Immunovant, Inc.(a) | 1,328 | 13,891 | ||||||
Incyte Corp.(a) | 9,661 | 747,278 | ||||||
Infinity Pharmaceuticals, Inc.(a) | 6,820 | 14,458 | ||||||
Inhibrx, Inc.(a) | 1,399 | 39,816 | ||||||
Inovio Pharmaceuticals, Inc.(a)(b) | 12,025 | 101,010 | ||||||
Inozyme Pharma, Inc.(a) | 1,258 | 21,097 | ||||||
Insmed, Inc.(a) | 5,392 | 132,643 | ||||||
Instil Bio, Inc.(a)(b) | 1,223 | 18,406 | ||||||
Intellia Therapeutics, Inc.(a) | 3,464 | 491,368 | ||||||
Intercept Pharmaceuticals, Inc.(a) | 997 | 17,228 | ||||||
Invitae Corp.(a)(b) | 10,119 | 283,231 | ||||||
Ionis Pharmaceuticals, Inc.(a) | 7,209 | 267,742 | ||||||
Iovance Biotherapeutics, Inc.(a) | 7,420 | 165,243 | ||||||
Ironwood Pharmaceuticals, Inc.(a) | 7,031 | 93,301 | ||||||
iTeos Therapeutics, Inc.(a) | 952 | 22,877 | ||||||
IVERIC bio, Inc.(a)(b) | 4,558 | 39,336 | ||||||
Jounce Therapeutics, Inc.(a) | 2,971 | 14,974 | ||||||
Kadmon Holdings, Inc.(a) | 5,651 | 21,248 | ||||||
KalVista Pharmaceuticals, Inc.(a) | 672 | 13,534 | ||||||
Karuna Therapeutics, Inc.(a) | 1,161 | 132,609 | ||||||
Karyopharm Therapeutics, Inc.(a) | 2,939 | 24,482 | ||||||
Keros Therapeutics, Inc.(a) | 477 | 17,554 | ||||||
Kezar Life Sciences, Inc.(a) | 2,971 | 14,469 | ||||||
Kiniksa Pharmaceuticals Ltd., Class A(a) | 935 | 14,334 | ||||||
Kinnate Biopharma, Inc.(a) | 1,144 | 24,688 | ||||||
Kodiak Sciences, Inc.(a) | 1,665 | 139,594 | ||||||
Kronos Bio, Inc.(a)(b) | 2,376 | 48,589 | ||||||
Krystal Biotech, Inc.(a) | 950 | 55,518 | ||||||
Kura Oncology, Inc.(a)(b) | 3,343 | 63,316 | ||||||
Kymera Therapeutics, Inc.(a) | 1,455 | 87,562 | ||||||
Lexicon Pharmaceuticals, Inc.(a)(b) | 1,529 | 5,413 | ||||||
Ligand Pharmaceuticals, Inc.(a) | 802 | 91,035 | ||||||
Lineage Cell Therapeutics, Inc.(a) | 8,090 | 21,277 | ||||||
MacroGenics, Inc.(a) | 3,347 | 83,541 | ||||||
Madrigal Pharmaceuticals, Inc.(a)(b) | 600 | 52,392 |
52 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Magenta Therapeutics, Inc.(a) | 606 | $ | 4,315 | |||||
MannKind Corp.(a) | 15,218 | 62,394 | ||||||
MEI Pharma, Inc.(a) | 4,856 | 13,111 | ||||||
MeiraGTx Holdings plc(a)(b) | 2,029 | 28,386 | ||||||
Mersana Therapeutics, Inc.(a)(b) | 3,619 | 39,809 | ||||||
MiMedx Group, Inc.(a) | 5,597 | 68,619 | ||||||
Mirati Therapeutics, Inc.(a) | 2,014 | 322,361 | ||||||
Moderna, Inc.(a) | 17,762 | 6,280,643 | ||||||
Molecular Templates, Inc.(a) | 873 | 6,111 | ||||||
Morphic Holding, Inc.(a) | 1,057 | 60,904 | ||||||
Mustang Bio, Inc.(a) | 6,462 | 18,675 | ||||||
Myriad Genetics, Inc.(a) | 3,955 | 125,097 | ||||||
Natera, Inc.(a) | 3,957 | 453,156 | ||||||
Neoleukin Therapeutics, Inc.(a) | 1,127 | 7,878 | ||||||
Neurocrine Biosciences, Inc.(a) | 4,851 | 452,162 | ||||||
Nkarta, Inc.(a) | 599 | 19,024 | ||||||
Novavax, Inc.(a)(b) | 3,873 | 694,545 | ||||||
Nurix Therapeutics Inc.(a) | 1,735 | 53,334 | ||||||
Ocugen, Inc.(a)(b) | 9,292 | 62,349 | ||||||
Olema Pharmaceuticals, Inc.(a) | 931 | 21,860 | ||||||
Oncocyte Corp.(a) | 4,037 | 20,750 | ||||||
Oncorus, Inc.(a) | 1,407 | 18,038 | ||||||
OPKO Health, Inc.(a) | 22,404 | 77,070 | ||||||
Organogenesis Holdings, Inc.(a) | 2,184 | 33,503 | ||||||
ORIC Pharmaceuticals, Inc.(a) | 2,033 | 33,849 | ||||||
Outlook Therapeutics, Inc.(a) | 10,081 | 22,783 | ||||||
Oyster Point Pharma, Inc.(a)(b) | 333 | 4,745 | ||||||
Passage Bio, Inc.(a) | 1,051 | 12,402 | ||||||
PMV Pharmaceuticals, Inc.(a) | 1,368 | 46,526 | ||||||
Poseida Therapeutics, Inc.(a)(b) | 2,547 | 20,656 | ||||||
Praxis Precision Medicines, Inc.(a) | 658 | 10,265 | ||||||
Precigen, Inc.(a)(b) | 5,740 | 31,513 | ||||||
Precision BioSciences, Inc.(a) | 1,437 | 14,169 | ||||||
Prelude Therapeutics, Inc.(a) | 414 | 13,265 | ||||||
Prometheus Biosciences, Inc.(a) | 1,001 | 20,991 | ||||||
Protagonist Therapeutics, Inc.(a) | 2,080 | 102,814 | ||||||
Prothena Corp. PLC(a) | 1,747 | 87,525 | ||||||
PTC Therapeutics, Inc.(a) | 3,618 | 138,678 | ||||||
Puma Biotechnology, Inc.(a) | 955 | 7,182 | ||||||
Radius Health, Inc.(a) | 2,817 | 42,621 | ||||||
Rapt Therapeutics, Inc.(a) | 1,138 | 34,902 | ||||||
Recursion Pharmaceuticals, Inc., Class A(a)(b) | 1,058 | 32,110 | ||||||
Regeneron Pharmaceuticals, Inc.(a) | 5,160 | 2,964,988 | ||||||
REGENXBIO, Inc.(a) | 2,116 | 68,389 | ||||||
Relay Therapeutics, Inc.(a)(b) | 2,946 | 95,568 | ||||||
Replimune Group, Inc.(a) | 1,503 | 49,193 | ||||||
Revolution Medicines, Inc.(a) | 3,048 | 87,295 | ||||||
Rhythm Pharmaceuticals, Inc.(a) | 2,428 | 41,980 | ||||||
Rigel Pharmaceuticals, Inc.(a) | 11,055 | 44,220 | ||||||
Rocket Pharmaceuticals, Inc.(a)(b) | 2,057 | 73,682 | ||||||
Rubius Therapeutics, Inc.(a) | 2,618 | 56,261 | ||||||
Sage Therapeutics, Inc.(a) | 2,617 | 114,441 | ||||||
Sana Biotechnology, Inc.(a)(b) | 1,441 | 23,474 | ||||||
Sangamo Therapeutics, Inc.(a) | 6,311 | 60,459 | ||||||
Sarepta Therapeutics, Inc.(a)(b) | 3,935 | 266,714 | ||||||
Scholar Rock Holding Corp.(a) | 1,312 | 41,000 | ||||||
Seagen, Inc.(a) | 7,596 | 1,165,150 | ||||||
Selecta Biosciences, Inc.(a) | 4,872 | 16,857 | ||||||
Seres Therapeutics, Inc.(a) | 3,502 | 24,864 | ||||||
Sesen Bio, Inc.(a) | 8,602 | 32,085 | ||||||
Shattuck Labs, Inc.(a) | 1,567 | 34,537 | ||||||
Silverback Therapeutics, Inc.(a)(b) | 896 | 27,131 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Solid Biosciences, Inc.(a) | 285 | $ | 795 | |||||
Sorrento Therapeutics, Inc.(a)(b) | 14,141 | 116,098 | ||||||
Spectrum Pharmaceuticals, Inc.(a) | 8,396 | 27,035 | ||||||
Spero Therapeutics, Inc.(a)(b) | 858 | 11,446 | ||||||
SpringWorks Therapeutics, Inc.(a) | 1,472 | 126,150 | ||||||
SQZ Biotechnologies Co.(a) | 1,721 | 20,824 | ||||||
Stoke Therapeutics, Inc.(a) | 1,062 | 30,405 | ||||||
Surface Oncology, Inc.(a) | 3,510 | 21,095 | ||||||
Sutro Biopharma, Inc.(a) | 2,510 | 42,745 | ||||||
Syndax Pharmaceuticals, Inc.(a) | 2,263 | 32,995 | ||||||
Syros Pharmaceuticals, Inc.(a) | 1,897 | 8,764 | ||||||
Taysha Gene Therapies, Inc.(a) | 1,155 | 19,970 | ||||||
TCR2 Therapeutics, Inc.(a) | 1,361 | 16,931 | ||||||
TG Therapeutics, Inc.(a) | 6,480 | 226,735 | ||||||
Tonix Pharmaceuticals Holding Corp.(a) | 19,969 | 14,298 | ||||||
Translate Bio, Inc.(a) | 3,820 | 105,585 | ||||||
Travere Therapeutics, Inc.(a) | 2,163 | 29,741 | ||||||
Trevena, Inc.(a)(b) | 11,790 | 15,681 | ||||||
Trillium Therapeutics, Inc.(a) | 5,030 | 32,846 | ||||||
Turning Point Therapeutics, Inc.(a) | 2,336 | 149,083 | ||||||
Twist Bioscience Corp.(a) | 2,416 | 297,289 | ||||||
Ultragenyx Pharmaceutical, Inc.(a) | 3,315 | 264,636 | ||||||
United Therapeutics Corp.(a) | 2,264 | 411,889 | ||||||
UroGen Pharma Ltd.(a) | 839 | 13,004 | ||||||
Vanda Pharmaceuticals, Inc.(a) | 2,945 | 48,033 | ||||||
Vaxart, Inc.(a)(b) | 6,011 | 43,219 | ||||||
Vaxcyte, Inc.(a) | 2,000 | 43,360 | ||||||
VBI Vaccines, Inc.(a) | 9,724 | 28,978 | ||||||
Veracyte, Inc.(a) | 3,457 | 154,044 | ||||||
Verastem, Inc.(a) | 8,381 | 27,071 | ||||||
Vericel Corp.(a) | 2,424 | 128,327 | ||||||
Vertex Pharmaceuticals, Inc.(a) | 13,383 | 2,697,745 | ||||||
Viking Therapeutics, Inc.(a) | 2,199 | 13,524 | ||||||
Vir Biotechnology, Inc.(a) | 3,094 | 110,301 | ||||||
Viracta Therapeutics, Inc.(a) | 1,898 | 19,967 | ||||||
VistaGen Therapeutics, Inc.(a) | 9,627 | 25,608 | ||||||
XBiotech, Inc. | 663 | 10,741 | ||||||
Xencor, Inc.(a) | 3,012 | 92,709 | ||||||
XOMA Corp.(a) | 708 | 22,939 | ||||||
Y-mAbs Therapeutics, Inc.(a) | 1,877 | 62,129 | ||||||
Zentalis Pharmaceuticals, Inc.(a) | 1,673 | 89,020 | ||||||
ZIOPHARM Oncology, Inc.(a) | 9,111 | 20,682 | ||||||
|
| |||||||
61,024,521 | ||||||||
Building Products — 0.7% | ||||||||
A O Smith Corp. | 6,852 | 481,901 | ||||||
AAON, Inc. | 2,286 | 142,075 | ||||||
Advanced Drainage Systems, Inc. | 2,832 | 345,759 | ||||||
Allegion plc | 4,660 | 636,556 | ||||||
American Woodmark Corp.(a) | 907 | 67,345 | ||||||
Apogee Enterprises, Inc. | 1,427 | 56,609 | ||||||
Armstrong World Industries, Inc. | 2,432 | 263,094 | ||||||
AZEK Co., Inc.(a) | 5,607 | 203,927 | ||||||
Builders FirstSource, Inc.(a) | 10,362 | 461,109 | ||||||
Caesarstone Ltd. | 516 | 6,847 | ||||||
Carlisle Cos., Inc. | 2,593 | 524,408 | ||||||
Carrier Global Corp. | 44,638 | 2,466,249 | ||||||
Cornerstone Building Brands, Inc.(a) | 2,814 | 47,331 | ||||||
CSW Industrials, Inc. | 651 | 77,007 | ||||||
Fortune Brands Home & Security, Inc. | 7,157 | 697,593 | ||||||
Gibraltar Industries, Inc.(a) | 1,619 | 120,907 | ||||||
Griffon Corp. | 2,372 | 54,841 | ||||||
Insteel Industries, Inc. | 1,232 | 47,839 |
S C H E D U L E O F I N V E S T M E N T S | 53 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Building Products (continued) | ||||||||
JELD-WEN Holding, Inc.(a) | 4,334 | $ | 114,764 | |||||
Johnson Controls International plc | 36,736 | 2,623,685 | ||||||
Lennox International, Inc. | 1,805 | 594,621 | ||||||
Masco Corp. | 13,158 | 785,664 | ||||||
Masonite International Corp.(a) | 1,247 | 141,111 | ||||||
Owens Corning | 5,153 | 495,512 | ||||||
PGT Innovations, Inc.(a) | 2,429 | 54,847 | ||||||
Quanex Building Products Corp. | 1,892 | 46,997 | ||||||
Resideo Technologies, Inc.(a) | 7,379 | 217,681 | ||||||
Simpson Manufacturing Co., Inc. | 2,261 | 254,317 | ||||||
Trane Technologies PLC | 12,253 | 2,494,833 | ||||||
Trex Co., Inc.(a)(b) | 6,016 | 584,154 | ||||||
UFP Industries, Inc. | 2,964 | 220,107 | ||||||
View, Inc.(a)(b) | 4,259 | 25,937 | ||||||
|
| |||||||
15,355,627 | ||||||||
Capital Markets — 3.0% | ||||||||
Affiliated Managers Group, Inc. | 2,128 | 337,160 | ||||||
Ameriprise Financial, Inc. | 6,020 | 1,550,511 | ||||||
Apollo Global Management, Inc. | 9,267 | 545,456 | ||||||
Ares Management Corp., Class A | 6,894 | 493,679 | ||||||
Artisan Partners Asset Management, Inc., Class A | 2,962 | 142,443 | ||||||
Assetmark Financial Holdings, Inc.(a) | 965 | 25,186 | ||||||
Associated Capital Group, Inc., Class A | 82 | 3,091 | ||||||
B. Riley Financial, Inc. | 1,026 | 69,317 | ||||||
Bank of New York Mellon Corp. | 43,822 | 2,249,383 | ||||||
BGC Partners, Inc., Class A | 17,841 | 95,449 | ||||||
BlackRock, Inc.(d) | 7,364 | 6,385,840 | ||||||
Blackstone Group, Inc. | 35,102 | 4,046,207 | ||||||
Blucora, Inc.(a) | 2,865 | 48,304 | ||||||
Brightsphere Investment Group, Inc. | 3,261 | 81,492 | ||||||
Carlyle Group, Inc. | 8,221 | 414,914 | ||||||
Cboe Global Markets, Inc. | 5,459 | 646,728 | ||||||
Charles Schwab Corp. | 82,599 | 5,612,602 | ||||||
CME Group, Inc. | 19,052 | 4,041,501 | ||||||
Cohen & Steers, Inc. | 1,418 | 117,992 | ||||||
Cowen, Inc., Class A | 1,474 | 58,930 | ||||||
Diamond Hill Investment Group, Inc. | 101 | 17,397 | ||||||
Donnelley Financial Solutions, Inc.(a) | 1,284 | 41,358 | ||||||
Evercore, Inc., Class A | 2,077 | 274,579 | ||||||
FactSet Research Systems, Inc. | 1,918 | 685,263 | ||||||
Federated Hermes, Inc. | 5,140 | 166,742 | ||||||
Focus Financial Partners, Inc., Class A(a) | 2,618 | 134,382 | ||||||
Franklin Resources, Inc. | 15,056 | 444,905 | ||||||
GAMCO Investors, Inc., Class A | 133 | 3,583 | ||||||
GCM Grosvenor, Inc., Class A | 2,165 | 21,563 | ||||||
Goldman Sachs Group, Inc. | 17,003 | 6,374,085 | ||||||
Greenhill & Co., Inc. | 768 | 12,303 | ||||||
Hamilton Lane, Inc., Class A | 1,743 | 162,099 | ||||||
Houlihan Lokey, Inc. | 3,948 | 351,767 | ||||||
Interactive Brokers Group, Inc., Class A | 4,051 | 250,595 | ||||||
Intercontinental Exchange, Inc. | 28,674 | 3,436,005 | ||||||
Invesco Ltd. | 17,121 | 417,410 | ||||||
Janus Henderson Group PLC | 4,146 | 173,469 | ||||||
Jefferies Financial Group, Inc. | 11,251 | 373,421 | ||||||
KKR & Co., Inc. | 28,515 | 1,818,116 | ||||||
Lazard Ltd., Class A | 5,378 | 253,842 | ||||||
LPL Financial Holdings, Inc. | 4,167 | 587,714 | ||||||
MarketAxess Holdings, Inc. | 1,942 | 922,780 | ||||||
Moelis & Co., Class A | 3,096 | 183,438 | ||||||
Moody’s Corp. | 8,254 | 3,103,504 | ||||||
Morgan Stanley | 71,524 | 6,864,873 | ||||||
Morningstar, Inc. | 1,232 | 311,240 |
Security | Shares | Value | ||||||
Capital Markets (continued) | ||||||||
MSCI, Inc. | 4,122 | $ | 2,456,547 | |||||
Nasdaq, Inc. | 5,946 | 1,110,297 | ||||||
Northern Trust Corp. | 10,661 | 1,203,094 | ||||||
Open Lending Corp., Class A(a) | 5,102 | 193,876 | ||||||
Oppenheimer Holdings, Inc., Class A | 713 | 32,049 | ||||||
Piper Sandler Cos | 951 | 116,678 | ||||||
PJT Partners, Inc., Class A | 1,317 | 102,950 | ||||||
Pzena Investment Management, Inc., Class A | 1,238 | 14,175 | ||||||
Raymond James Financial, Inc. | 6,401 | 828,801 | ||||||
S&P Global, Inc. | 12,411 | 5,320,844 | ||||||
Sculptor Capital Management, Inc. | 904 | 20,991 | ||||||
SEI Investments Co. | 5,987 | 364,010 | ||||||
State Street Corp. | 18,005 | 1,568,956 | ||||||
StepStone Group, Inc., Class A | 1,925 | 87,607 | ||||||
Stifel Financial Corp. | 5,168 | 343,879 | ||||||
StoneX Group, Inc.(a) | 909 | 58,658 | ||||||
T. Rowe Price Group, Inc. | 11,587 | 2,365,602 | ||||||
Tradeweb Markets, Inc., Class A | 5,561 | 482,305 | ||||||
Virtu Financial, Inc., Class A | 4,942 | 127,207 | ||||||
Virtus Investment Partners, Inc. | 369 | 101,892 | ||||||
WisdomTree Investments, Inc. | 4,011 | 24,788 | ||||||
|
| |||||||
71,277,824 | ||||||||
Chemicals — 1.4% | ||||||||
AdvanSix, Inc.(a) | 1,050 | 35,122 | ||||||
Air Products & Chemicals, Inc. | 11,369 | 3,308,720 | ||||||
Albemarle Corp. | 6,018 | 1,239,949 | ||||||
American Vanguard Corp. | 2,757 | 45,518 | ||||||
Amyris, Inc.(a)(b) | 8,372 | 122,064 | ||||||
Ashland Global Holdings, Inc. | 2,804 | 238,536 | ||||||
Avient Corp. | 4,809 | 233,333 | ||||||
Axalta Coating Systems Ltd.(a) | 10,563 | 317,946 | ||||||
Balchem Corp. | 1,659 | 223,783 | ||||||
Cabot Corp. | 3,145 | 173,164 | ||||||
Celanese Corp. | 5,800 | 903,466 | ||||||
CF Industries Holdings, Inc. | 11,117 | 525,278 | ||||||
Chase Corp. | 398 | 46,379 | ||||||
Chemours Co. | 8,427 | 280,198 | ||||||
Corteva, Inc. | 38,151 | 1,632,100 | ||||||
Danimer Scientific, Inc.(a) | 3,472 | 57,913 | ||||||
Diversey Holdings Ltd.(a) | 2,196 | 36,629 | ||||||
Dow, Inc. | 38,558 | 2,396,765 | ||||||
DuPont de Nemours, Inc. | 27,418 | 2,057,721 | ||||||
Eastman Chemical Co. | 7,033 | 792,760 | ||||||
Ecolab, Inc. | 12,841 | 2,835,678 | ||||||
Ecovyst, Inc.(a) | 2,650 | 41,234 | ||||||
Element Solutions, Inc. | 16,654 | 389,537 | ||||||
Ferro Corp.(a) | 4,533 | 94,286 | ||||||
FMC Corp. | 6,738 | 720,629 | ||||||
FutureFuel Corp. | 1,697 | 14,425 | ||||||
GCP Applied Technologies, Inc.(a) | 1,984 | 46,128 | ||||||
Hawkins, Inc. | 1,121 | 40,704 | ||||||
HB Fuller Co. | 2,632 | 170,080 | ||||||
Huntsman Corp. | 10,477 | 276,698 | ||||||
Ingevity Corp.(a) | 1,980 | 168,181 | ||||||
Innospec, Inc. | 1,590 | 140,635 | ||||||
International Flavors & Fragrances, Inc. | 12,821 | 1,931,355 | ||||||
Intrepid Potash, Inc.(a) | 281 | 8,514 | ||||||
Koppers Holdings, Inc.(a) | 682 | 20,944 | ||||||
Kraton Corp.(a) | 1,476 | 56,368 | ||||||
Kronos Worldwide, Inc. | 777 | 10,808 | ||||||
Livent Corp.(a) | 7,660 | 149,447 | ||||||
LyondellBasell Industries NV, Class A | 13,552 | 1,346,120 |
54 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Chemicals (continued) | ||||||||
Marrone Bio Innovations, Inc.(a) | 16,704 | $ | 20,880 | |||||
Minerals Technologies, Inc. | 2,032 | 163,007 | ||||||
Mosaic Co. | 18,218 | 568,948 | ||||||
NewMarket Corp. | 374 | 118,150 | ||||||
Olin Corp. | 7,327 | 344,589 | ||||||
Orion Engineered Carbons SA(a) | 3,373 | 60,984 | ||||||
PPG Industries, Inc. | 12,175 | 1,990,856 | ||||||
PureCycle Technologies, Inc.(a) | 1,658 | 24,555 | ||||||
Quaker Chemical Corp. | 723 | 182,008 | ||||||
Rayonier Advanced Materials, Inc.(a) | 1,732 | 12,072 | ||||||
RPM International, Inc. | 6,562 | 568,204 | ||||||
Scotts Miracle-Gro Co. | 2,086 | 369,139 | ||||||
Sensient Technologies Corp. | 2,126 | 185,345 | ||||||
Sherwin-Williams Co. | 12,507 | 3,639,912 | ||||||
Stepan Co. | 1,165 | 137,412 | ||||||
Tredegar Corp. | 681 | 8,901 | ||||||
Trinseo SA | 1,858 | 101,001 | ||||||
Tronox Holdings PLC, Class A | 5,236 | 96,499 | ||||||
Valvoline, Inc. | 9,293 | 285,109 | ||||||
Westlake Chemical Corp. | 1,634 | 135,491 | ||||||
WR Grace & Co.(a) | 2,872 | 199,891 | ||||||
Zymergen, Inc.(a)(b) | 866 | 30,128 | ||||||
|
| |||||||
32,372,196 | ||||||||
Commercial Services & Supplies — 0.5% | ||||||||
ABM Industries, Inc. | 3,167 | 147,234 | ||||||
ACCO Brands Corp. | 3,640 | 32,542 | ||||||
ADT, Inc. | 8,277 | 86,826 | ||||||
Brady Corp., Class A | 2,472 | 135,169 | ||||||
BrightView Holdings, Inc.(a) | 2,533 | 40,604 | ||||||
Brink’s Co. | 2,522 | 194,093 | ||||||
Casella Waste Systems, Inc., Class A(a) | 2,439 | 167,754 | ||||||
CECO Environmental Corp.(a) | 925 | 6,512 | ||||||
Cimpress PLC(a) | 966 | 98,773 | ||||||
Cintas Corp. | 4,580 | 1,805,344 | ||||||
Clean Harbors, Inc.(a) | 2,558 | 243,010 | ||||||
Copart, Inc.(a)(b) | 11,487 | 1,688,589 | ||||||
CoreCivic, Inc.(a) | 6,112 | 62,831 | ||||||
Covanta Holding Corp. | 6,591 | 132,479 | ||||||
Deluxe Corp. | 2,249 | 98,731 | ||||||
Driven Brands Holdings, Inc.(a)(b) | 1,930 | 61,413 | ||||||
Ennis, Inc. | 1,476 | 29,181 | ||||||
Harsco Corp.(a) | 3,441 | 69,233 | ||||||
Healthcare Services Group, Inc. | 3,929 | 102,547 | ||||||
Heritage-Crystal Clean, Inc.(a) | 397 | 11,187 | ||||||
Herman Miller, Inc. | 3,897 | 168,156 | ||||||
HNI Corp. | 2,341 | 87,319 | ||||||
IAA, Inc.(a) | 6,925 | 418,824 | ||||||
Interface, Inc. | 3,303 | 47,629 | ||||||
KAR Auction Services, Inc.(a) | 7,187 | 118,442 | ||||||
Kimball International, Inc., Class B | 1,050 | 12,999 | ||||||
Matthews International Corp., Class A | 2,063 | 71,380 | ||||||
Montrose Environmental Group Inc.(a) | 1,392 | 74,736 | ||||||
MSA Safety, Inc. | 1,891 | 311,032 | ||||||
Pitney Bowes, Inc. | 5,809 | 46,472 | ||||||
Republic Services, Inc. | 10,790 | 1,277,104 | ||||||
Rollins, Inc. | 11,546 | 442,558 | ||||||
RR Donnelley & Sons Co.(a) | 3,532 | 21,616 | ||||||
SP Plus Corp.(a) | 1,356 | 44,463 | ||||||
Steelcase, Inc., Class A | 4,806 | 66,083 | ||||||
Stericycle, Inc.(a) | 4,828 | 340,615 | ||||||
Team, Inc.(a) | 945 | 5,831 |
Security | Shares | Value | ||||||
Commercial Services & Supplies (continued) |
| |||||||
Tetra Tech, Inc. | 2,778 | $ | 370,919 | |||||
UniFirst Corp. | 801 | 174,434 | ||||||
US Ecology, Inc.(a) | 1,725 | 60,375 | ||||||
Viad Corp.(a) | 1,234 | 56,579 | ||||||
VSE Corp. | 300 | 15,015 | ||||||
Waste Management, Inc. | 22,444 | 3,327,547 | ||||||
|
| |||||||
12,774,180 | ||||||||
Communications Equipment — 0.8% | ||||||||
ADTRAN, Inc. | 2,523 | 56,540 | ||||||
Arista Networks, Inc.(a) | 3,118 | 1,186,056 | ||||||
Aviat Networks, Inc.(a)(b) | 336 | 12,526 | ||||||
CalAmp Corp.(a) | 1,415 | 17,164 | ||||||
Calix, Inc.(a) | 2,812 | 131,545 | ||||||
Cambium Networks Corp.(a) | 644 | 28,368 | ||||||
Casa Systems, Inc.(a) | 501 | 3,763 | ||||||
Ciena Corp.(a) | 7,787 | 452,736 | ||||||
Cisco Systems, Inc. | 219,894 | 12,175,531 | ||||||
Clearfield, Inc.(a) | 817 | 35,556 | ||||||
CommScope Holding Co., Inc.(a) | 10,120 | 214,139 | ||||||
Comtech Telecommunications Corp. | 1,632 | 40,751 | ||||||
Digi International, Inc.(a) | 2,062 | 42,642 | ||||||
DZS, Inc.(a) | 990 | 19,552 | ||||||
EchoStar Corp., Class A(a) | 2,032 | 45,314 | ||||||
EMCORE Corp.(a) | 2,079 | 18,170 | ||||||
Extreme Networks, Inc.(a) | 6,268 | 69,011 | ||||||
F5 Networks, Inc.(a)(b) | 3,619 | 747,360 | ||||||
Harmonic, Inc.(a) | 3,609 | 31,940 | ||||||
Infinera Corp.(a) | 8,035 | 79,627 | ||||||
Inseego Corp.(a) | 4,327 | 37,602 | ||||||
Juniper Networks, Inc. | 16,517 | 464,788 | ||||||
KVH Industries, Inc.(a) | 368 | 4,166 | ||||||
Lumentum Holdings, Inc.(a)(b) | 3,827 | 321,430 | ||||||
Motorola Solutions, Inc. | 8,552 | 1,914,964 | ||||||
NETGEAR, Inc.(a) | 1,767 | 60,520 | ||||||
NetScout Systems, Inc.(a) | 3,898 | 112,106 | ||||||
Plantronics, Inc.(a) | 1,795 | 55,986 | ||||||
Ribbon Communications, Inc.(a)(b) | 4,557 | 31,489 | ||||||
Ubiquiti, Inc. | 369 | 115,534 | ||||||
ViaSat, Inc.(a) | 3,260 | 161,826 | ||||||
Viavi Solutions, Inc.(a) | 11,112 | 185,459 | ||||||
|
| |||||||
18,874,161 | ||||||||
Construction & Engineering — 0.2% | ||||||||
AECOM(a) | 7,058 | 444,372 | ||||||
Ameresco, Inc., Class A(a) | 1,551 | 106,290 | ||||||
API Group Corp.(a)(e) | 9,005 | 206,395 | ||||||
Arcosa, Inc. | 2,688 | 147,195 | ||||||
Argan, Inc. | 963 | 43,287 | ||||||
Comfort Systems USA, Inc. | 1,734 | 129,616 | ||||||
Concrete Pumping Holdings, Inc.(a)(b) | 1,884 | 16,391 | ||||||
Construction Partners, Inc., Class A(a)(b) | 1,288 | 43,251 | ||||||
Dycom Industries, Inc.(a) | 1,545 | 107,223 | ||||||
EMCOR Group, Inc. | 2,859 | 348,255 | ||||||
Fluor Corp.(a) | 7,117 | 118,569 | ||||||
Granite Construction, Inc. | 2,389 | 91,785 | ||||||
Great Lakes Dredge & Dock Corp.(a) | 2,420 | 37,268 | ||||||
HC2 Holdings, Inc.(a) | 6,253 | 23,011 | ||||||
IES Holdings, Inc.(a) | 192 | 10,447 | ||||||
Infrastructure and Energy Alternatives, Inc.(a)(b) | 1,850 | 22,330 | ||||||
MasTec, Inc.(a) | 2,822 | 285,671 | ||||||
Matrix Service Co.(a) | 1,242 | 13,550 | ||||||
MYR Group, Inc.(a) | 942 | 90,083 |
S C H E D U L E O F I N V E S T M E N T S | 55 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Construction & Engineering (continued) | ||||||||
Northwest Pipe Co.(a) | 487 | $ | 13,836 | |||||
NV5 Global, Inc.(a) | 710 | 67,450 | ||||||
Primoris Services Corp. | 3,014 | 90,119 | ||||||
Quanta Services, Inc. | 7,026 | 638,663 | ||||||
Sterling Construction Co., Inc.(a) | 1,738 | 38,166 | ||||||
Tutor Perini Corp.(a)(b) | 1,983 | 27,901 | ||||||
Valmont Industries, Inc. | 1,061 | 251,404 | ||||||
WillScot Mobile Mini Holdings Corp.(a) | 9,189 | 263,816 | ||||||
|
| |||||||
3,676,344 | ||||||||
Construction Materials — 0.1% | ||||||||
Eagle Materials, Inc. | 2,173 | 307,088 | ||||||
Forterra, Inc.(a) | 1,820 | 42,934 | ||||||
Martin Marietta Materials, Inc. | 3,220 | 1,169,826 | ||||||
Summit Materials, Inc., Class A(a) | 6,040 | 202,944 | ||||||
United States Lime & Minerals, Inc. | 114 | 15,846 | ||||||
US Concrete, Inc.(a) | 848 | 61,743 | ||||||
Vulcan Materials Co. | 6,822 | 1,227,892 | ||||||
|
| |||||||
3,028,273 | ||||||||
Consumer Finance — 0.7% | ||||||||
Ally Financial, Inc. | 18,960 | 973,786 | ||||||
American Express Co. | 33,580 | 5,726,397 | ||||||
Atlanticus Holdings Corp.(a) | 526 | 22,870 | ||||||
Capital One Financial Corp. | 23,129 | 3,739,959 | ||||||
Credit Acceptance Corp.(a)(b) | 482 | 233,659 | ||||||
Curo Group Holdings Corp. | 1,724 | 27,188 | ||||||
Discover Financial Services | 15,719 | 1,954,186 | ||||||
Encore Capital Group, Inc.(a) | 1,672 | 79,153 | ||||||
Enova International, Inc.(a) | 2,095 | 69,324 | ||||||
Ezcorp, Inc., Class A(a) | 1,575 | 9,009 | ||||||
FirstCash, Inc. | 2,158 | 170,914 | ||||||
Green Dot Corp., Class A(a) | 1,798 | 82,834 | ||||||
LendingClub Corp.(a) | 5,772 | 140,837 | ||||||
LendingTree, Inc.(a) | 601 | 117,327 | ||||||
Navient Corp. | 9,301 | 190,019 | ||||||
Nelnet, Inc., Class A | 899 | 67,695 | ||||||
OneMain Holdings, Inc. | 4,829 | 294,569 | ||||||
Oportun Financial Corp.(a) | 866 | 18,255 | ||||||
PRA Group, Inc.(a) | 2,429 | 94,221 | ||||||
PROG Holdings, Inc.(a) | 3,501 | 153,239 | ||||||
Regional Management Corp. | 217 | 11,225 | ||||||
Santander Consumer USA Holdings, Inc. | 3,081 | 126,413 | ||||||
SLM Corp. | 16,604 | 312,653 | ||||||
Synchrony Financial | 30,027 | 1,411,870 | ||||||
Upstart Holdings Inc(a) | 633 | 76,441 | ||||||
World Acceptance Corp.(a) | 213 | 40,378 | ||||||
|
| |||||||
16,144,421 | ||||||||
Containers & Packaging — 0.4% | ||||||||
Amcor PLC | 78,147 | 903,379 | ||||||
AptarGroup, Inc. | 3,348 | 431,624 | ||||||
Ardagh Group SA | 1,250 | 29,188 | ||||||
Avery Dennison Corp. | 4,768 | 1,004,522 | ||||||
Ball Corp. | 16,547 | 1,338,321 | ||||||
Berry Global Group, Inc.(a) | 6,878 | 442,187 | ||||||
Crown Holdings, Inc. | 6,761 | 674,477 | ||||||
Graphic Packaging Holding Co. | 13,834 | 265,198 | ||||||
Greif, Inc., Class A | 1,471 | 89,172 | ||||||
Greif, Inc., Class B | 150 | 9,132 | ||||||
International Paper Co. | 20,141 | 1,163,344 | ||||||
Myers Industries, Inc. | 2,006 | 42,487 | ||||||
O-I Glass, Inc.(a) | 8,316 | 122,994 |
Security | Shares | Value | ||||||
Containers & Packaging (continued) | ||||||||
Packaging Corp. of America | 4,909 | $ | 694,624 | |||||
Pactiv Evergreen, Inc. | 2,722 | 39,387 | ||||||
Ranpak Holdings Corp.(a) | 1,714 | 43,913 | ||||||
Sealed Air Corp. | 7,711 | 437,599 | ||||||
Silgan Holdings, Inc. | 4,362 | 176,748 | ||||||
Sonoco Products Co. | 5,170 | 329,794 | ||||||
UFP Technologies, Inc.(a) | 191 | 11,418 | ||||||
Westrock Co. | 13,545 | 666,550 | ||||||
|
| |||||||
8,916,058 | ||||||||
Distributors — 0.1% | ||||||||
Core-Mark Holding Co., Inc. | 2,496 | 107,428 | ||||||
Funko, Inc., Class A(a) | 1,471 | 27,449 | ||||||
Genuine Parts Co. | 7,395 | 938,573 | ||||||
LKQ Corp.(a) | 14,346 | 728,060 | ||||||
Pool Corp. | 2,017 | 963,763 | ||||||
|
| |||||||
2,765,273 | ||||||||
Diversified Consumer Services — 0.2% | ||||||||
2U, Inc.(a)(b) | 3,716 | 161,274 | ||||||
Adtalem Global Education, Inc.(a) | 2,748 | 99,862 | ||||||
American Public Education, Inc.(a) | 1,286 | 38,091 | ||||||
Bright Horizons Family Solutions, Inc.(a) | 3,094 | 462,553 | ||||||
Carriage Services, Inc. | 750 | 27,885 | ||||||
Chegg, Inc.(a)(b) | 7,087 | 628,121 | ||||||
Coursera, Inc.(a) | 626 | 22,279 | ||||||
frontdoor, Inc.(a) | 4,541 | 222,237 | ||||||
Graham Holdings Co., Class B | 197 | 130,938 | ||||||
Grand Canyon Education, Inc.(a) | 2,471 | 228,246 | ||||||
H&R Block, Inc. | 9,397 | 230,696 | ||||||
Houghton Mifflin Harcourt Co.(a) | 6,474 | 73,286 | ||||||
Laureate Education, Inc., Class A(a) | 4,568 | 67,652 | ||||||
OneSpaWorld Holdings Ltd.(a) | 1,738 | 17,171 | ||||||
Perdoceo Education Corp.(a) | 2,686 | 31,856 | ||||||
Regis Corp.(a) | 1,081 | 8,616 | ||||||
Service Corp. International | 8,342 | 521,292 | ||||||
Strategic Education, Inc. | 1,286 | 101,967 | ||||||
Stride, Inc.(a) | 2,478 | 75,976 | ||||||
Terminix Global Holdings, Inc.(a) | 6,772 | 355,530 | ||||||
Vivint Smart Home, Inc.(a)(b) | 4,939 | 60,602 | ||||||
WW International, Inc.(a)(b) | 2,679 | 82,352 | ||||||
|
| |||||||
3,648,482 | ||||||||
Diversified Financial Services — 1.2% | ||||||||
Alerus Financial Corp. | 1,174 | 32,813 | ||||||
A-Mark Precious Metals, Inc. | 438 | 22,312 | ||||||
Banco Latinoamericano de Comercio Exterior SA, Class E | 1,539 | 25,363 | �� | |||||
Berkshire Hathaway, Inc., Class B(a) | 97,016 | 26,998,583 | ||||||
Cannae Holdings, Inc.(a) | 4,260 | 141,645 | ||||||
Equitable Holdings, Inc. | 20,143 | 621,814 | ||||||
Marlin Business Services Corp. | 1,226 | 27,659 | ||||||
Voya Financial, Inc. | 6,186 | 398,378 | ||||||
|
| |||||||
28,268,567 | ||||||||
Diversified Telecommunication Services — 1.0% | ||||||||
Anterix, Inc.(a) | 518 | 30,210 | ||||||
AT&T, Inc. | 372,162 | 10,439,144 | ||||||
ATN International, Inc. | 370 | 15,929 | ||||||
Bandwidth, Inc., Class A(a) | 1,206 | 156,370 | ||||||
Cincinnati Bell, Inc.(a) | 1,146 | 17,580 | ||||||
Cogent Communications Holdings, Inc. | 2,241 | 173,924 | ||||||
Consolidated Communications Holdings, Inc.(a) | 4,659 | 35,828 | ||||||
Globalstar, Inc.(a)(b) | 30,159 | 41,619 |
56 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Diversified Telecommunication Services (continued) | ||||||||
IDT Corp., Class B(a) | 1,298 | $ | 64,640 | |||||
Iridium Communications, Inc.(a) | 6,146 | 259,546 | ||||||
Liberty Latin America Ltd., Class A(a) | 2,374 | 32,405 | ||||||
Liberty Latin America Ltd., Class C(a) | 7,372 | 101,955 | ||||||
Lumen Technologies, Inc. | 57,556 | 717,723 | ||||||
Ooma, Inc.(a) | 719 | 13,337 | ||||||
ORBCOMM, Inc.(a) | 4,580 | 51,708 | ||||||
Radius Global Infrastructure, Inc., Class A(a) | 2,156 | 33,051 | ||||||
Verizon Communications, Inc. | 215,546 | 12,023,156 | ||||||
|
| |||||||
24,208,125 | ||||||||
Electric Utilities — 1.4% | ||||||||
ALLETE, Inc. | 2,690 | 189,161 | ||||||
Alliant Energy Corp. | 12,994 | 760,539 | ||||||
American Electric Power Co., Inc. | 25,302 | 2,229,612 | ||||||
Avangrid, Inc. | 3,047 | 158,871 | ||||||
Duke Energy Corp. | 40,634 | 4,271,040 | ||||||
Edison International | 18,811 | 1,025,199 | ||||||
Entergy Corp. | 10,380 | 1,068,310 | ||||||
Evergy, Inc. | 11,695 | 762,748 | ||||||
Eversource Energy | 17,688 | 1,525,944 | ||||||
Exelon Corp. | 50,304 | 2,354,227 | ||||||
FirstEnergy Corp. | 27,611 | 1,058,053 | ||||||
Hawaiian Electric Industries, Inc. | 5,314 | 230,309 | ||||||
IDACORP, Inc. | 2,671 | 281,657 | ||||||
MGE Energy, Inc. | 1,782 | 139,210 | ||||||
NextEra Energy, Inc. | 102,417 | 7,978,284 | ||||||
NRG Energy, Inc. | 12,745 | 525,604 | ||||||
OGE Energy Corp. | 10,022 | 338,242 | ||||||
Otter Tail Corp. | 2,126 | 107,979 | ||||||
PG&E Corp.(a) | 78,786 | 692,529 | ||||||
Pinnacle West Capital Corp. | 5,923 | 494,867 | ||||||
PNM Resources, Inc. | 4,517 | 218,307 | ||||||
Portland General Electric Co. | 4,493 | 219,708 | ||||||
PPL Corp. | 39,474 | 1,119,877 | ||||||
Southern Co. | 56,230 | 3,591,410 | ||||||
Spark Energy, Inc., Class A | 516 | 5,743 | ||||||
Xcel Energy, Inc. | 27,688 | 1,889,706 | ||||||
|
| |||||||
33,237,136 | ||||||||
Electrical Equipment — 0.7% | ||||||||
Acuity Brands, Inc. | 2,427 | 425,647 | ||||||
Allied Motion Technologies, Inc. | 267 | 8,787 | ||||||
American Superconductor Corp.(a) | 1,101 | 15,469 | ||||||
AMETEK, Inc. | 11,972 | 1,664,707 | ||||||
Array Technologies, Inc.(a) | 5,898 | 79,859 | ||||||
Atkore, Inc.(a) | 2,465 | 185,146 | ||||||
AZZ, Inc. | 1,415 | 74,981 | ||||||
Babcock & Wilcox Enterprises, Inc.(a) | 2,924 | 20,936 | ||||||
Beam Global(a) | 614 | 18,770 | ||||||
Bloom Energy Corp., Class A(a) | 7,012 | 152,862 | ||||||
ChargePoint Holdings, Inc.(a) | 6,310 | 149,232 | ||||||
Eaton Corp. PLC | 20,448 | 3,231,806 | ||||||
Emerson Electric Co. | 30,787 | 3,106,100 | ||||||
Encore Wire Corp. | 957 | 75,058 | ||||||
EnerSys | 2,231 | 220,110 | ||||||
Eos Energy Enterprises, Inc.(a)(b) | 1,221 | 18,950 | ||||||
FuelCell Energy, Inc.(a) | 16,793 | 106,300 | ||||||
Generac Holdings, Inc.(a) | 3,161 | 1,325,597 | ||||||
GrafTech International Ltd. | 8,076 | 91,824 | ||||||
Hubbell, Inc. | 2,712 | 543,648 | ||||||
nVent Electric PLC | 8,381 | 264,923 | ||||||
Plug Power, Inc.(a) | 26,204 | 714,845 |
Security | Shares | Value | ||||||
Electrical Equipment (continued) | ||||||||
Powell Industries, Inc. | 401 | $ | 11,665 | |||||
Preformed Line Products Co. | 83 | 5,687 | ||||||
Regal Beloit Corp. | 2,040 | 300,349 | ||||||
Rockwell Automation, Inc. | 6,273 | 1,928,446 | ||||||
Romeo Power, Inc.(a)(b) | 2,599 | 18,323 | ||||||
Sensata Technologies Holding PLC(a) | 8,318 | 487,601 | ||||||
Shoals Technologies Group, Inc., Class A(a) | 3,915 | 113,887 | ||||||
Stem, Inc.(a)(b) | 3,143 | 85,207 | ||||||
Sunrun, Inc.(a)(b) | 10,585 | 560,687 | ||||||
Thermon Group Holdings, Inc.(a) | 2,167 | 36,102 | ||||||
TPI Composites, Inc.(a) | 1,837 | 71,900 | ||||||
Vertiv Holdings Co. | 14,120 | 395,925 | ||||||
Vicor Corp.(a) | 1,044 | 120,697 | ||||||
|
| |||||||
16,632,033 | ||||||||
Electronic Equipment, Instruments & Components — 0.7% | ||||||||
908 Devices, Inc.(a)(b) | 557 | 17,406 | ||||||
Advanced Energy Industries, Inc. | 2,012 | 208,745 | ||||||
Aeva Technologies, Inc.(a) | 2,101 | 18,405 | ||||||
Akoustis Technologies, Inc.(a) | 1,380 | 13,358 | ||||||
Amphenol Corp., Class A | 30,004 | 2,174,990 | ||||||
Arlo Technologies, Inc.(a) | 4,365 | 26,670 | ||||||
Arrow Electronics, Inc.(a) | 3,902 | 462,660 | ||||||
Avnet, Inc. | 5,021 | 207,468 | ||||||
Badger Meter, Inc. | 1,495 | 151,040 | ||||||
Belden, Inc. | 2,368 | 116,032 | ||||||
Benchmark Electronics, Inc. | 1,484 | 39,178 | ||||||
CDW Corp. | 7,230 | 1,325,621 | ||||||
Cognex Corp. | 8,916 | 806,096 | ||||||
Coherent, Inc.(a) | 1,242 | 305,457 | ||||||
Corning, Inc. | 39,202 | 1,640,996 | ||||||
CTS Corp. | 1,973 | 69,035 | ||||||
Daktronics, Inc.(a) | 624 | 3,813 | ||||||
ePlus, Inc.(a) | 676 | 62,503 | ||||||
Fabrinet(a) | 1,955 | 184,787 | ||||||
FARO Technologies, Inc.(a) | 883 | 64,362 | ||||||
Identiv, Inc.(a) | 1,391 | 22,645 | ||||||
II-VI, Inc.(a)(b) | 5,327 | 371,878 | ||||||
Insight Enterprises, Inc.(a) | 1,903 | 191,023 | ||||||
IPG Photonics Corp.(a) | 1,853 | 404,250 | ||||||
Iteris, Inc.(a) | 3,274 | 20,397 | ||||||
Itron, Inc.(a) | 2,263 | 223,177 | ||||||
Jabil, Inc. | 7,425 | 442,085 | ||||||
Keysight Technologies, Inc.(a) | 9,513 | 1,565,364 | ||||||
Kimball Electronics, Inc.(a) | 871 | 17,760 | ||||||
Knowles Corp.(a)(b) | 5,726 | 114,749 | ||||||
Littelfuse, Inc. | 1,183 | 314,666 | ||||||
Luna Innovations, Inc.(a) | 2,071 | 25,535 | ||||||
Methode Electronics, Inc. | 1,799 | 86,046 | ||||||
MicroVision, Inc.(a)(b) | 7,938 | 109,306 | ||||||
Napco Security Technologies, Inc.(a)(b) | 1,131 | 39,981 | ||||||
National Instruments Corp. | 6,604 | 291,302 | ||||||
nLight, Inc.(a) | 1,784 | 61,887 | ||||||
Novanta, Inc.(a) | 1,842 | 258,635 | ||||||
OSI Systems, Inc.(a)(b) | 853 | 85,343 | ||||||
Ouster, Inc.(a)(b) | 1,664 | 15,292 | ||||||
PAR Technology Corp.(a) | 1,206 | 73,626 | ||||||
PC Connection, Inc. | 479 | 22,781 | ||||||
Plexus Corp.(a) | 1,378 | 124,461 | ||||||
Rogers Corp.(a) | 963 | 183,548 | ||||||
Sanmina Corp.(a) | 3,539 | 135,968 | ||||||
ScanSource, Inc.(a) | 5,305 | 146,365 | ||||||
SYNNEX Corp. | 2,124 | 253,903 |
S C H E D U L E O F I N V E S T M E N T S | 57 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Electronic Equipment, Instruments & Components (continued) | ||||||||
Trimble, Inc.(a) | 12,953 | $ | 1,107,482 | |||||
TTM Technologies, Inc.(a) | 5,780 | 80,862 | ||||||
Velodyne Lidar, Inc.(a)(b) | 3,591 | 28,764 | ||||||
Vishay Intertechnology, Inc. | 7,564 | 167,391 | ||||||
Vishay Precision Group, Inc.(a) | 235 | 8,538 | ||||||
Vontier Corp. | 8,523 | 275,719 | ||||||
Zebra Technologies Corp., Class A(a) | 2,737 | 1,512,138 | ||||||
|
| |||||||
16,681,489 | ||||||||
Energy Equipment & Services — 0.2% | ||||||||
Archrock, Inc. | 8,196 | 70,568 | ||||||
Aspen Aerogels, Inc.(a) | 1,334 | 50,225 | ||||||
Baker Hughes Co. | 43,169 | 916,909 | ||||||
Bristow Group, Inc.(a) | 204 | 5,300 | ||||||
Cactus, Inc., Class A | 2,808 | 101,200 | ||||||
ChampionX Corp.(a) | 10,619 | 246,785 | ||||||
DMC Global, Inc.(a) | 948 | 41,494 | ||||||
Dril-Quip, Inc.(a) | 2,080 | 59,446 | ||||||
Frank’s International NV(a) | 4,988 | 13,717 | ||||||
Halliburton Co. | 46,077 | 952,872 | ||||||
Helix Energy Solutions Group, Inc.(a) | 9,071 | 37,645 | ||||||
Helmerich & Payne, Inc. | 5,766 | 165,311 | ||||||
Liberty Oilfield Services, Inc., Class A(a) | 5,009 | 51,042 | ||||||
Nabors Industries Ltd.(a) | 460 | 40,255 | ||||||
National Energy Services Reunited Corp.(a)(b) | 1,333 | 17,196 | ||||||
Newpark Resources, Inc.(a) | 2,639 | 8,524 | ||||||
NexTier Oilfield Solutions, Inc.(a) | 9,126 | 34,861 | ||||||
NOV, Inc.(a) | 19,742 | 272,637 | ||||||
Oceaneering International, Inc.(a) | 5,475 | 72,598 | ||||||
Oil States International, Inc.(a) | 1,913 | 10,828 | ||||||
Patterson-UTI Energy, Inc. | 9,536 | 76,479 | ||||||
ProPetro Holding Corp.(a) | 4,714 | 35,591 | ||||||
RPC, Inc.(a) | 2,009 | 8,438 | ||||||
Schlumberger NV | 72,395 | 2,087,148 | ||||||
Select Energy Services, Inc., Class A(a) | 1,380 | 8,211 | ||||||
Solaris Oilfield Infrastructure, Inc., Class A | 756 | 6,577 | ||||||
TETRA Technologies, Inc.(a) | 6,116 | 18,898 | ||||||
Tidewater, Inc.(a) | 1,293 | 14,637 | ||||||
U.S. Silica Holdings, Inc.(a) | 4,387 | 44,309 | ||||||
|
| |||||||
5,469,701 | ||||||||
Entertainment — 1.8% | ||||||||
Activision Blizzard, Inc. | 39,863 | 3,333,344 | ||||||
AMC Entertainment Holdings, Inc., Class A(a) | 20,519 | 759,613 | ||||||
Chicken Soup For The Soul Entertainment, | 554 | 19,878 | ||||||
Cinemark Holdings, Inc.(a) | 5,597 | 86,921 | ||||||
CuriosityStream, Inc.(a)(b) | 1,616 | 17,760 | ||||||
Electronic Arts, Inc. | 14,814 | 2,132,623 | ||||||
Eros STX Global Corp.(a) | 21,112 | 23,012 | ||||||
IMAX Corp.(a) | 2,341 | 37,784 | ||||||
Liberty Media Corp.-Liberty Braves, Class A(a) | 602 | 15,977 | ||||||
Liberty Media Corp.-Liberty Braves, Class C(a) | 1,290 | 34,121 | ||||||
Liberty Media Corp.-Liberty Formula One, Class A(a)(b) | 2,935 | 121,685 | ||||||
Liberty Media Corp.-Liberty Formula One, Class C(a) | 8,329 | 390,880 | ||||||
Lions Gate Entertainment Corp., Class A(a)(b) | 4,773 | 71,738 | ||||||
Lions Gate Entertainment Corp., Class B(a) | 3,890 | 51,970 | ||||||
Live Nation Entertainment, Inc.(a) | 6,822 | 538,188 | ||||||
LiveXLive Media, Inc.(a) | 943 | 3,338 | ||||||
Madison Square Garden Entertainment Corp.(a) | 1,317 | 92,137 | ||||||
Madison Square Garden Sports Corp.(a) | 954 | 155,254 | ||||||
Marcus Corp.(a) | 914 | 14,688 | ||||||
Netflix, Inc.(a) | 22,498 | 11,644,290 |
Security | Shares | Value | ||||||
Entertainment (continued) | ||||||||
Playtika Holding Corp.(a)(b) | 4,199 | $ | 93,344 | |||||
Roku, Inc.(a) | 6,181 | 2,647,384 | ||||||
Skillz, Inc.(a)(b) | 14,877 | 209,468 | ||||||
Spotify Technology SA(a) | 7,034 | 1,608,465 | ||||||
Take-Two Interactive Software, Inc.(a) | 5,964 | 1,034,277 | ||||||
Walt Disney Co.(a) | 94,341 | 16,605,903 | ||||||
World Wrestling Entertainment, Inc., Class A | 2,299 | 113,525 | ||||||
Zynga, Inc., Class A(a) | 52,435 | 529,593 | ||||||
|
| |||||||
42,387,160 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 3.2% | ||||||||
Acadia Realty Trust | 4,332 | 92,705 | ||||||
Agree Realty Corp. | 3,362 | 252,654 | ||||||
Alexander & Baldwin, Inc. | 4,091 | 81,902 | ||||||
Alexander’s, Inc. | 94 | 26,211 | ||||||
Alexandria Real Estate Equities, Inc. | 7,548 | 1,519,714 | ||||||
American Assets Trust, Inc. | 2,957 | 109,202 | ||||||
American Campus Communities, Inc. | 6,936 | 348,950 | ||||||
American Finance Trust, Inc. | 4,079 | 34,549 | ||||||
American Homes 4 Rent, Class A | 14,287 | 600,054 | ||||||
American Tower Corp. | 23,636 | 6,684,261 | ||||||
Americold Realty Trust | 13,311 | 517,132 | ||||||
Apartment Income REIT Corp. | 7,847 | 413,066 | ||||||
Apartment Investment and Management Co., Class A(a) | 8,722 | 60,705 | ||||||
Apple Hospitality REIT, Inc. | 10,716 | 160,204 | ||||||
Armada Hoffler Properties, Inc. | 1,444 | 18,772 | ||||||
Ashford Hospitality Trust, Inc.(a) | 572 | 9,266 | ||||||
AvalonBay Communities, Inc. | 7,175 | 1,634,680 | ||||||
Boston Properties, Inc. | 7,917 | 929,297 | ||||||
Braemar Hotels & Resorts, Inc.(a) | 3,646 | 18,595 | ||||||
Brandywine Realty Trust | 10,235 | 142,881 | ||||||
Brixmor Property Group, Inc. | 14,992 | 345,116 | ||||||
Broadstone Net Lease, Inc. | 7,141 | 185,809 | ||||||
Camden Property Trust | 4,747 | 709,154 | ||||||
CareTrust REIT, Inc. | 3,409 | 82,225 | ||||||
Catchmark Timber Trust, Inc., Class A | 1,412 | 16,506 | ||||||
Centerspace | 578 | 52,020 | ||||||
Chatham Lodging Trust(a) | 2,016 | 24,756 | ||||||
City Office REIT, Inc. | 1,953 | 25,135 | ||||||
Clipper Realty, Inc. | 393 | 3,270 | ||||||
Columbia Property Trust, Inc. | 6,039 | 100,670 | ||||||
Community Healthcare Trust, Inc. | 1,398 | 69,662 | ||||||
CorePoint Lodging, Inc.(a) | 1,425 | 19,152 | ||||||
CoreSite Realty Corp. | 2,136 | 295,217 | ||||||
Corporate Office Properties Trust | 5,587 | 164,481 | ||||||
Cousins Properties, Inc. | 7,533 | 299,211 | ||||||
Crown Castle International Corp. | 22,161 | 4,279,067 | ||||||
CTO Realty Growth, Inc. | 108 | 6,069 | ||||||
CubeSmart | 10,153 | 504,198 | ||||||
CyrusOne, Inc. | 6,486 | 462,257 | ||||||
DiamondRock Hospitality Co.(a) | 8,612 | 74,149 | ||||||
Digital Realty Trust, Inc. | 15,207 | 2,344,311 | ||||||
DigitalBridge Group, Inc.(a) | 24,985 | 173,896 | ||||||
Diversified Healthcare Trust | 14,315 | 55,829 | ||||||
Douglas Emmett, Inc. | 8,578 | 286,505 | ||||||
Duke Realty Corp. | 19,286 | 981,272 | ||||||
Easterly Government Properties, Inc. | 4,896 | 111,139 | ||||||
EastGroup Properties, Inc. | 1,953 | 344,158 | ||||||
Empire State Realty Trust, Inc., Class A | 7,712 | 88,148 | ||||||
EPR Properties | 3,839 | 193,102 | ||||||
Equinix, Inc. | 4,600 | 3,773,886 | ||||||
Equity Commonwealth | 6,167 | 162,130 |
58 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
Equity LifeStyle Properties, Inc. | 8,808 | $ | 738,110 | |||||
Equity Residential | 18,950 | 1,594,264 | ||||||
Essential Properties Realty Trust, Inc. | 6,004 | 178,919 | ||||||
Essex Property Trust, Inc. | 3,338 | 1,095,198 | ||||||
Extra Space Storage, Inc. | 6,721 | 1,170,395 | ||||||
Farmland Partners, Inc. | 2,041 | 25,717 | ||||||
Federal Realty Investment Trust | 3,899 | 458,249 | ||||||
First Industrial Realty Trust, Inc. | 6,646 | 364,068 | ||||||
Four Corners Property Trust, Inc. | 3,889 | 111,653 | ||||||
Franklin Street Properties Corp. | 7,341 | 38,320 | ||||||
Gaming and Leisure Properties, Inc. | 11,268 | 533,427 | ||||||
Geo Group, Inc.(a) | 4,668 | 32,303 | ||||||
Getty Realty Corp. | 1,530 | 48,333 | ||||||
Gladstone Commercial Corp. | 2,038 | 47,241 | ||||||
Gladstone Land Corp. | 1,361 | 31,739 | ||||||
Global Medical REIT, Inc. | 3,155 | 49,092 | ||||||
Global Net Lease, Inc. | 5,657 | 104,485 | ||||||
Healthcare Realty Trust, Inc. | 7,039 | 224,403 | ||||||
Healthcare Trust of America, Inc., Class A | 10,928 | 312,432 | ||||||
Healthpeak Properties, Inc. | 28,018 | 1,035,825 | ||||||
Hersha Hospitality Trust(a) | 1,059 | 9,965 | ||||||
Highwoods Properties, Inc. | 5,431 | 259,004 | ||||||
Host Hotels & Resorts, Inc.(a) | 36,533 | 581,971 | ||||||
Hudson Pacific Properties, Inc. | 7,629 | 207,967 | ||||||
Independence Realty Trust, Inc. | 6,609 | 127,422 | ||||||
Indus Realty Trust, Inc. | 343 | 23,170 | ||||||
Industrial Logistics Properties Trust | 2,854 | 77,343 | ||||||
Innovative Industrial Properties, Inc. | 1,192 | 256,268 | ||||||
Invitation Homes, Inc. | 29,134 | 1,185,171 | ||||||
Iron Mountain, Inc. | 14,533 | 635,964 | ||||||
iStar, Inc. | 3,168 | 76,761 | ||||||
JBG SMITH Properties | 6,550 | 213,727 | ||||||
Kilroy Realty Corp. | 5,916 | 409,801 | ||||||
Kimco Realty Corp. | 20,906 | 445,925 | ||||||
Kite Realty Group Trust | 4,402 | 88,744 | ||||||
Lamar Advertising Co., Class A | 4,344 | 463,070 | ||||||
Lexington Realty Trust | 13,535 | 177,985 | ||||||
Life Storage, Inc. | 4,803 | 563,680 | ||||||
LTC Properties, Inc. | 2,807 | 106,245 | ||||||
Macerich Co. | 9,990 | 162,837 | ||||||
Mack-Cali Realty Corp.(a) | 4,655 | 83,790 | ||||||
Medical Properties Trust, Inc. | 30,434 | 640,027 | ||||||
Mid-America Apartment Communities, Inc. | 5,832 | 1,126,159 | ||||||
Monmouth Real Estate Investment Corp. | 5,007 | 95,333 | ||||||
National Health Investors, Inc. | 2,414 | 164,707 | ||||||
National Retail Properties, Inc. | 8,879 | 433,917 | ||||||
National Storage Affiliates Trust | 3,732 | 202,162 | ||||||
NETSTREIT Corp. | 2,146 | 55,689 | ||||||
New Senior Investment Group, Inc. | 3,694 | 34,059 | ||||||
NexPoint Residential Trust, Inc. | 1,405 | 82,825 | ||||||
Office Properties Income Trust | 3,092 | 89,606 | ||||||
Omega Healthcare Investors, Inc. | 11,999 | 435,324 | ||||||
One Liberty Properties, Inc. | 651 | 19,914 | ||||||
Outfront Media, Inc.(a) | 7,441 | 177,765 | ||||||
Paramount Group, Inc. | 10,176 | 99,318 | ||||||
Park Hotels & Resorts, Inc.(a) | 12,212 | 225,922 | ||||||
Pebblebrook Hotel Trust | 6,691 | 150,481 | ||||||
Physicians Realty Trust | 11,695 | 221,620 | ||||||
Piedmont Office Realty Trust, Inc., Class A | 6,483 | 123,307 | ||||||
Plymouth Industrial REIT, Inc. | 2,004 | 46,252 | ||||||
Postal Realty Trust, Inc., Class A | 1,151 | 22,122 | ||||||
PotlatchDeltic Corp. | 3,461 | 179,764 |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
Preferred Apartment Communities, Inc., Class A | 2,312 | $ | 24,368 | |||||
Prologis, Inc. | 37,965 | 4,861,039 | ||||||
PS Business Parks, Inc. | 1,128 | 173,340 | ||||||
Public Storage | 7,723 | 2,413,283 | ||||||
QTS Realty Trust, Inc., Class A | 3,442 | 267,478 | ||||||
Rayonier, Inc. | 7,133 | 268,985 | ||||||
Realty Income Corp. | 19,417 | 1,364,821 | ||||||
Regency Centers Corp. | 8,578 | 561,087 | ||||||
Retail Opportunity Investments Corp. | 7,052 | 124,609 | ||||||
Retail Properties of America, Inc., Class A | 10,116 | 127,563 | ||||||
Retail Value, Inc. | 555 | 13,564 | ||||||
Rexford Industrial Realty, Inc. | 8,538 | 525,258 | ||||||
RLJ Lodging Trust | 8,528 | 122,377 | ||||||
RPT Realty | 4,311 | 54,922 | ||||||
Ryman Hospitality Properties, Inc.(a) | 2,720 | 208,624 | ||||||
Sabra Health Care REIT, Inc. | 11,607 | 215,774 | ||||||
Safehold, Inc. | 923 | 83,365 | ||||||
Saul Centers, Inc. | 796 | 36,298 | ||||||
SBA Communications Corp. | 5,915 | 2,016,956 | ||||||
Seritage Growth Properties, Class A(a) | 2,263 | 35,914 | ||||||
Service Properties Trust | 8,692 | 96,742 | ||||||
Simon Property Group, Inc. | 16,828 | 2,129,079 | ||||||
SITE Centers Corp. | 8,961 | 142,121 | ||||||
SL Green Realty Corp. | 3,600 | 268,056 | ||||||
Spirit Realty Capital, Inc. | 6,142 | 308,451 | ||||||
STAG Industrial, Inc. | 8,313 | 343,493 | ||||||
STORE Capital Corp. | 12,389 | 448,358 | ||||||
Summit Hotel Properties, Inc.(a) | 5,580 | 50,276 | ||||||
Sun Communities, Inc. | 5,696 | 1,117,043 | ||||||
Sunstone Hotel Investors, Inc.(a) | 11,930 | 137,672 | ||||||
Tanger Factory Outlet Centers, Inc. | 5,117 | 87,859 | ||||||
Terreno Realty Corp. | 3,615 | 247,121 | ||||||
UDR, Inc. | 16,946 | 931,861 | ||||||
UMH Properties, Inc. | 2,451 | 57,059 | ||||||
Uniti Group, Inc. | 10,480 | 122,721 | ||||||
Universal Health Realty Income Trust | 517 | 30,891 | ||||||
Urban Edge Properties | 6,477 | 123,063 | ||||||
Urstadt Biddle Properties, Inc., Class A | 1,775 | 33,849 | ||||||
Ventas, Inc. | 19,442 | 1,162,243 | ||||||
VEREIT, Inc. | 12,077 | 591,411 | ||||||
VICI Properties, Inc. | 27,898 | 870,139 | ||||||
Vornado Realty Trust | 8,984 | 390,804 | ||||||
Washington Real Estate Investment Trust | 4,505 | 109,426 | ||||||
Weingarten Realty Investors | 6,318 | 203,376 | ||||||
Welltower, Inc. | 21,499 | 1,867,403 | ||||||
Weyerhaeuser Co. | 38,696 | 1,305,216 | ||||||
Whitestone REIT | 1,160 | 10,266 | ||||||
WP Carey, Inc. | 9,153 | 738,556 | ||||||
Xenia Hotels & Resorts, Inc.(a) | 5,735 | 101,395 | ||||||
|
| |||||||
76,390,131 | ||||||||
Food & Staples Retailing — 1.2% | ||||||||
Albertsons Cos., Inc., Class A(b) | 8,418 | 181,829 | ||||||
Andersons, Inc. | 1,554 | 41,492 | ||||||
BJ’s Wholesale Club Holdings, Inc.(a) | 7,072 | 358,126 | ||||||
Casey’s General Stores, Inc. | 1,860 | 367,741 | ||||||
Chefs’ Warehouse, Inc.(a) | 1,845 | 53,357 | ||||||
Costco Wholesale Corp. | 23,036 | 9,899,030 | ||||||
Grocery Outlet Holding Corp.(a)(b) | 4,458 | 147,649 | ||||||
HF Foods Group, Inc.(a) | 1,854 | 9,585 | ||||||
Ingles Markets, Inc., Class A | 575 | 34,362 | ||||||
Kroger Co. | 38,526 | 1,568,008 | ||||||
Natural Grocers by Vitamin Cottage, Inc. | 357 | 3,991 |
S C H E D U L E O F I N V E S T M E N T S | 59 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Food & Staples Retailing (continued) | ||||||||
Performance Food Group Co.(a)(b) | 6,853 | $ | 314,004 | |||||
PriceSmart, Inc. | 1,312 | 117,739 | ||||||
Rite Aid Corp.(a)(b) | 3,304 | 50,221 | ||||||
SpartanNash Co. | 1,724 | 33,532 | ||||||
Sprouts Farmers Market, Inc.(a) | 6,156 | 151,315 | ||||||
Sysco Corp. | 25,238 | 1,872,660 | ||||||
United Natural Foods, Inc.(a) | 2,825 | 93,564 | ||||||
US Foods Holding Corp.(a) | 11,309 | 388,351 | ||||||
Village Super Market, Inc., Class A | 168 | 3,788 | ||||||
Walgreens Boots Alliance, Inc. | 37,177 | 1,752,896 | ||||||
Walmart, Inc. | 73,897 | 10,534,017 | ||||||
Weis Markets, Inc. | 882 | 46,437 | ||||||
|
| |||||||
28,023,694 | ||||||||
Food Products — 0.9% | ||||||||
AppHarvest, Inc.(a)(b) | 2,442 | 29,109 | ||||||
Archer-Daniels-Midland Co. | 28,869 | 1,724,057 | ||||||
B&G Foods, Inc. | 3,214 | 92,306 | ||||||
Beyond Meat, Inc.(a) | 2,983 | 366,014 | ||||||
Bunge Ltd. | 7,250 | 562,818 | ||||||
Calavo Growers, Inc. | 718 | 40,452 | ||||||
Cal-Maine Foods, Inc.(b) | 1,578 | 55,056 | ||||||
Campbell Soup Co. | 10,285 | 449,660 | ||||||
Conagra Brands, Inc. | 24,055 | 805,602 | ||||||
Darling Ingredients, Inc.(a) | 8,513 | 587,993 | ||||||
Flowers Foods, Inc. | 9,948 | 234,375 | ||||||
Fresh Del Monte Produce, Inc. | 1,399 | 43,173 | ||||||
Freshpet, Inc.(a) | 2,061 | 301,833 | ||||||
General Mills, Inc. | 31,609 | 1,860,506 | ||||||
Hain Celestial Group, Inc.(a) | 4,276 | 170,655 | ||||||
Hershey Co. | 7,557 | 1,351,796 | ||||||
Hormel Foods Corp. | 14,438 | 669,634 | ||||||
Hostess Brands, Inc.(a)(b) | 6,896 | 110,957 | ||||||
Ingredion, Inc. | 3,386 | 297,325 | ||||||
J&J Snack Foods Corp. | 731 | 120,162 | ||||||
J.M. Smucker Co. | 5,540 | 726,349 | ||||||
John B Sanfilippo & Son, Inc. | 296 | 27,339 | ||||||
Kellogg Co. | 13,120 | 831,283 | ||||||
Kraft Heinz Co. | 34,365 | 1,322,022 | ||||||
Lamb Weston Holdings, Inc. | 7,420 | 495,433 | ||||||
Lancaster Colony Corp. | 1,028 | 203,410 | ||||||
Landec Corp.(a) | 899 | 9,835 | ||||||
Limoneira Co. | 296 | 5,301 | ||||||
McCormick & Co., Inc. | 13,054 | 1,098,755 | ||||||
Mission Produce, Inc.(a) | 1,882 | 36,454 | ||||||
Mondelez International, Inc., Class A | 71,856 | 4,545,611 | ||||||
Pilgrim’s Pride Corp.(a) | 2,023 | 44,809 | ||||||
Post Holdings, Inc.(a) | 3,055 | 312,649 | ||||||
Sanderson Farms, Inc. | 1,016 | 189,829 | ||||||
Seaboard Corp. | 12 | 49,320 | ||||||
Seneca Foods Corp., Class A(a) | 168 | 9,196 | ||||||
Simply Good Foods Co.(a) | 4,500 | 168,660 | ||||||
Tattooed Chef, Inc.(a)(b) | 2,366 | 46,658 | ||||||
Tootsie Roll Industries, Inc. | 912 | 31,364 | ||||||
TreeHouse Foods, Inc.(a)(b) | 2,747 | 121,967 | ||||||
Tyson Foods, Inc., Class A | 15,015 | 1,072,972 | ||||||
Utz Brands, Inc. | 2,967 | 67,173 | ||||||
Vital Farms, Inc.(a)(b) | 1,197 | 20,840 | ||||||
Whole Earth Brands, Inc.(a)(b) | 1,975 | 25,399 | ||||||
|
| |||||||
21,336,111 | ||||||||
Gas Utilities — 0.1% | ||||||||
Atmos Energy Corp. | 6,768 | 667,257 |
Security | Shares | Value | ||||||
Gas Utilities (continued) | ||||||||
Brookfield Infrastructure Corp., Class A | 1,856 | $ | 120,195 | |||||
Chesapeake Utilities Corp. | 1,026 | 127,829 | ||||||
National Fuel Gas Co. | 4,428 | 227,732 | ||||||
New Jersey Resources Corp. | 5,074 | 195,450 | ||||||
Northwest Natural Holding Co. | 1,623 | 84,867 | ||||||
ONE Gas, Inc. | 2,723 | 200,903 | ||||||
South Jersey Industries, Inc. | 4,823 | 121,395 | ||||||
Southwest Gas Holdings, Inc. | 2,953 | 206,503 | ||||||
Spire, Inc. | 2,547 | 180,710 | ||||||
UGI Corp. | 10,947 | 503,453 | ||||||
|
| |||||||
2,636,294 | ||||||||
Health Care Equipment & Supplies — 3.5% | ||||||||
Abbott Laboratories | 90,390 | 10,935,382 | ||||||
ABIOMED, Inc.(a) | 2,595 | 848,928 | ||||||
Accelerate Diagnostics, Inc.(a)(b) | 1,051 | 7,840 | ||||||
Accuray, Inc.(a) | 2,245 | 9,204 | ||||||
Acutus Medical, Inc.(a) | 1,352 | 20,821 | ||||||
Align Technology, Inc.(a) | 4,055 | 2,821,469 | ||||||
Alphatec Holdings, Inc.(a) | 3,545 | 52,253 | ||||||
AngioDynamics, Inc.(a) | 2,055 | 54,725 | ||||||
Apyx Medical Corp.(a) | 1,544 | 13,896 | ||||||
Asensus Surgical, Inc.(a) | 11,764 | 27,528 | ||||||
Aspira Women’s Health, Inc.(a)(b) | 2,554 | 11,442 | ||||||
AtriCure, Inc.(a) | 2,318 | 195,778 | ||||||
Atrion Corp. | 52 | 32,705 | ||||||
Avanos Medical, Inc.(a) | 2,746 | 104,183 | ||||||
Axogen, Inc.(a) | 1,488 | 30,311 | ||||||
Axonics, Inc.(a) | 2,103 | 142,899 | ||||||
Baxter International, Inc. | 26,020 | 2,012,647 | ||||||
Becton Dickinson and Co. | 14,892 | 3,808,629 | ||||||
BioLife Solutions, Inc.(a) | 1,232 | 57,781 | ||||||
Boston Scientific Corp.(a) | 73,218 | 3,338,741 | ||||||
Butterfly Network, Inc.(a)(b) | 1,681 | 18,054 | ||||||
Cardiovascular Systems, Inc.(a) | 1,719 | 69,258 | ||||||
Cerus Corp.(a)(b) | 6,213 | 31,314 | ||||||
ClearPoint Neuro, Inc.(a) | 1,187 | 26,387 | ||||||
CONMED Corp. | 1,463 | 201,806 | ||||||
Cooper Cos., Inc. | 2,499 | 1,054,003 | ||||||
CryoLife, Inc.(a) | 2,287 | 61,749 | ||||||
CryoPort, Inc.(a) | 1,976 | 121,959 | ||||||
Cutera, Inc.(a) | 1,121 | 58,236 | ||||||
CytoSorbents Corp.(a) | 2,460 | 18,721 | ||||||
Danaher Corp. | 32,612 | 9,701,744 | ||||||
DarioHealth Corp.(a) | 1,102 | 16,354 | ||||||
DENTSPLY SIRONA, Inc. | 11,058 | 730,270 | ||||||
DexCom, Inc.(a) | 4,966 | 2,560,023 | ||||||
Eargo, Inc.(a) | 928 | 33,408 | ||||||
Edwards Lifesciences Corp.(a) | 32,917 | 3,695,592 | ||||||
Envista Holdings Corp.(a) | 8,151 | 351,145 | ||||||
Glaukos Corp.(a)(b) | 2,324 | 118,524 | ||||||
Globus Medical, Inc., Class A(a) | 3,954 | 328,854 | ||||||
Haemonetics Corp.(a) | 2,499 | 151,914 | ||||||
Heska Corp.(a) | 478 | 115,055 | ||||||
Hill-Rom Holdings, Inc. | 3,461 | 479,210 | ||||||
Hologic, Inc.(a) | 13,255 | 994,655 | ||||||
ICU Medical, Inc.(a) | 1,072 | 217,927 | ||||||
IDEXX Laboratories, Inc.(a) | 4,347 | 2,949,570 | ||||||
Inari Medical, Inc.(a) | 1,709 | 153,451 | ||||||
Inogen, Inc.(a) | 1,013 | 80,807 | ||||||
Insulet Corp.(a) | 3,449 | 964,651 | ||||||
Integer Holdings Corp.(a) | 1,733 | 169,643 | ||||||
Integra LifeSciences Holdings Corp.(a) | 3,786 | 274,069 |
60 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
Intersect ENT, Inc.(a) | 1,517 | $ | 35,422 | |||||
Intuitive Surgical, Inc.(a) | 6,082 | 6,030,060 | ||||||
Invacare Corp.(a) | 2,642 | 19,102 | ||||||
iRhythm Technologies, Inc.(a) | 1,636 | 83,632 | ||||||
Lantheus Holdings, Inc.(a) | 3,051 | 79,845 | ||||||
LeMaitre Vascular, Inc. | 829 | 45,147 | ||||||
LivaNova PLC(a) | 2,518 | 217,303 | ||||||
Masimo Corp.(a) | 2,583 | 703,583 | ||||||
Medtronic PLC | 70,294 | 9,230,305 | ||||||
Meridian Bioscience, Inc.(a) | 2,171 | 44,505 | ||||||
Merit Medical Systems, Inc.(a) | 2,616 | 183,355 | ||||||
Mesa Laboratories, Inc. | 221 | 65,087 | ||||||
Misonix, Inc.(a) | 961 | 25,505 | ||||||
Natus Medical, Inc.(a) | 1,964 | 52,439 | ||||||
Neogen Corp.(a) | 5,314 | 231,478 | ||||||
Neuronetics, Inc.(a) | 1,285 | 17,039 | ||||||
Nevro Corp.(a)(b) | 1,734 | 268,770 | ||||||
Novocure Ltd.(a) | 5,314 | 818,409 | ||||||
NuVasive, Inc.(a) | 2,730 | 174,583 | ||||||
OraSure Technologies, Inc.(a) | 2,564 | 30,230 | ||||||
Ortho Clinical Diagnostics Holdings PLC(a) | 4,601 | 103,384 | ||||||
Orthofix Medical, Inc.(a) | 1,089 | 43,277 | ||||||
OrthoPediatrics Corp.(a) | 618 | 38,835 | ||||||
Outset Medical, Inc.(a) | 2,310 | 94,618 | ||||||
PAVmed, Inc.(a) | 3,568 | 24,512 | ||||||
Penumbra, Inc.(a) | 1,730 | 460,578 | ||||||
Pulmonx Corp.(a) | 1,314 | 52,113 | ||||||
Pulse Biosciences, Inc.(a) | 649 | 13,304 | ||||||
Quidel Corp.(a) | 1,910 | 270,208 | ||||||
Quotient Ltd.(a) | 2,710 | 9,241 | ||||||
ResMed, Inc. | 7,403 | 2,012,135 | ||||||
SeaSpine Holdings Corp.(a) | 1,292 | 25,310 | ||||||
Senseonics Holdings, Inc.(a)(b) | 20,903 | 64,172 | ||||||
Shockwave Medical, Inc.(a) | 1,713 | 311,766 | ||||||
SI-BONE, Inc.(a) | 1,664 | 50,486 | ||||||
Sientra, Inc.(a) | 3,843 | 31,705 | ||||||
Silk Road Medical, Inc.(a) | 1,727 | 86,661 | ||||||
Soliton, Inc.(a) | 986 | 21,623 | ||||||
STAAR Surgical Co.(a) | 2,361 | 302,019 | ||||||
Stereotaxis, Inc.(a) | 2,252 | 20,516 | ||||||
STERIS PLC | 5,148 | 1,122,007 | ||||||
Stryker Corp. | 18,487 | 5,008,868 | ||||||
Surmodics, Inc.(a) | 823 | 45,356 | ||||||
Tactile Systems Technology, Inc.(a) | 1,111 | 54,417 | ||||||
Talis Biomedical Corp.(a)(b) | 2,293 | 23,618 | ||||||
Tandem Diabetes Care, Inc.(a) | 3,150 | 342,310 | ||||||
Teleflex, Inc. | 2,420 | 961,781 | ||||||
TransMedics Group, Inc.(a) | 1,422 | 40,555 | ||||||
Treace Medical Concepts, Inc.(a)(b) | 656 | 19,851 | ||||||
Utah Medical Products, Inc. | 90 | 8,046 | ||||||
Vapotherm, Inc.(a) | 796 | 20,585 | ||||||
Varex Imaging Corp.(a) | 2,011 | 54,900 | ||||||
ViewRay, Inc.(a) | 5,896 | 39,149 | ||||||
West Pharmaceutical Services, Inc. | 3,777 | 1,555,104 | ||||||
Zimmer Biomet Holdings, Inc. | 10,831 | 1,770,002 | ||||||
Zynex, Inc.(a)(b) | 746 | 10,362 | ||||||
|
| |||||||
83,744,688 | ||||||||
Health Care Providers & Services — 2.5% | ||||||||
1Life Healthcare, Inc.(a) | 5,871 | 158,752 | ||||||
Acadia Healthcare Co., Inc.(a) | 4,567 | 281,875 | ||||||
Accolade, Inc.(a) | 2,548 | 119,272 |
Security | Shares | Value | ||||||
Health Care Providers & Services (continued) | ||||||||
AdaptHealth Corp.(a) | 4,231 | $ | 94,732 | |||||
Addus HomeCare Corp.(a) | 862 | 74,813 | ||||||
Agiliti, Inc.(a) | 1,083 | 21,216 | ||||||
Agilon Health, Inc.(a)(b) | 6,006 | 220,961 | ||||||
Alignment Healthcare, Inc.(a) | 1,178 | 24,538 | ||||||
Amedisys, Inc.(a) | 1,623 | 422,986 | ||||||
AmerisourceBergen Corp. | 7,647 | 934,234 | ||||||
AMN Healthcare Services, Inc.(a) | 2,410 | 242,350 | ||||||
Anthem, Inc. | 12,957 | 4,975,618 | ||||||
Apollo Medical Holdings, Inc.(a) | 1,826 | 161,364 | ||||||
Aveanna Healthcare Holdings, Inc.(a) | 1,972 | 20,390 | ||||||
Brookdale Senior Living, Inc.(a) | 9,444 | 71,019 | ||||||
Cardinal Health, Inc. | 14,819 | 879,952 | ||||||
Castle Biosciences, Inc.(a) | 1,068 | 74,600 | ||||||
Centene Corp.(a) | 29,822 | 2,046,087 | ||||||
Chemed Corp. | 807 | 384,148 | ||||||
Cigna Corp. | 17,643 | 4,048,892 | ||||||
Community Health Systems, Inc.(a) | 6,300 | 83,916 | ||||||
CorVel Corp.(a) | 425 | 59,849 | ||||||
Covetrus, Inc.(a) | 4,928 | 125,467 | ||||||
Cross Country Healthcare, Inc.(a) | 1,938 | 31,822 | ||||||
CVS Health Corp. | 69,250 | 5,703,430 | ||||||
DaVita, Inc.(a) | 3,749 | 450,817 | ||||||
Encompass Health Corp. | 4,980 | 414,585 | ||||||
Ensign Group, Inc. | 2,653 | 225,691 | ||||||
Fulgent Genetics, Inc.(a)(b) | 1,025 | 94,556 | ||||||
Guardant Health, Inc.(a) | 4,560 | 500,688 | ||||||
Hanger, Inc.(a) | 1,491 | 36,589 | ||||||
HCA Healthcare, Inc. | 13,419 | 3,330,596 | ||||||
HealthEquity, Inc.(a) | 4,113 | 304,280 | ||||||
Henry Schein, Inc.(a) | 7,330 | 587,500 | ||||||
Humana, Inc. | 6,643 | 2,828,988 | ||||||
InfuSystem Holdings, Inc.(a) | 955 | 17,429 | ||||||
Innovage Holding Corp.(a) | 978 | 16,489 | ||||||
Joint Corp.(a) | 581 | 45,893 | ||||||
Laboratory Corp. of America Holdings(a) | 5,042 | 1,493,188 | ||||||
LHC Group, Inc.(a) | 1,536 | 330,517 | ||||||
Magellan Health, Inc.(a) | 1,029 | 97,055 | ||||||
McKesson Corp. | 8,276 | 1,686,897 | ||||||
MEDNAX, Inc.(a) | 4,054 | 118,053 | ||||||
ModivCare, Inc.(a) | 665 | 113,050 | ||||||
Molina Healthcare, Inc.(a) | 2,916 | 796,097 | ||||||
National HealthCare Corp. | 696 | 54,044 | ||||||
National Research Corp. | 477 | 25,176 | ||||||
Oak Street Health, Inc.(a)(b) | 5,534 | 348,863 | ||||||
Ontrak, Inc.(a) | 306 | 8,265 | ||||||
Option Care Health, Inc.(a) | 5,628 | 116,612 | ||||||
Owens & Minor, Inc. | 3,684 | 170,385 | ||||||
Patterson Cos., Inc. | 4,487 | 139,680 | ||||||
Pennant Group, Inc.(a) | 1,158 | 39,627 | ||||||
PetIQ, Inc.(a) | 1,413 | 49,964 | ||||||
Premier, Inc., Class A | 6,585 | 234,689 | ||||||
Privia Health Group, Inc.(a) | 942 | 39,093 | ||||||
Progyny, Inc.(a) | 3,155 | 175,702 | ||||||
Quest Diagnostics, Inc. | 6,800 | 964,240 | ||||||
R1 RCM, Inc.(a) | 6,591 | 141,113 | ||||||
RadNet, Inc.(a) | 2,261 | 83,069 | ||||||
Select Medical Holdings Corp. | 5,669 | 223,642 | ||||||
Sharps Compliance Corp.(a) | 2,450 | 24,451 | ||||||
Signify Health, Inc., Class A(a) | 1,128 | 29,689 | ||||||
SOC Telemed, Inc.(a) | 3,552 | 16,304 | ||||||
Surgery Partners, Inc.(a) | 1,668 | 91,006 |
S C H E D U L E O F I N V E S T M E N T S | 61 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Health Care Providers & Services (continued) | ||||||||
Tenet Healthcare Corp.(a) | 5,352 | $ | 384,488 | |||||
Tivity Health, Inc.(a) | 1,912 | 47,953 | ||||||
Triple-S Management Corp., Class B(a) | 753 | 18,321 | ||||||
U.S. Physical Therapy, Inc. | 546 | 64,515 | ||||||
UnitedHealth Group, Inc. | 48,759 | 20,099,435 | ||||||
Universal Health Services, Inc., Class B | 3,991 | 640,196 | ||||||
Viemed Healthcare, Inc.(a) | 1,492 | 10,384 | ||||||
|
| |||||||
58,992,147 | ||||||||
Health Care Technology — 0.3% | ||||||||
Allscripts Healthcare Solutions, Inc.(a) | 7,404 | 126,460 | ||||||
American Well Corp., Class A(a) | 9,807 | 114,252 | ||||||
Castlight Health, Inc., Class B(a) | 10,168 | 23,691 | ||||||
Cerner Corp. | 15,623 | 1,255,933 | ||||||
Certara, Inc.(a) | 1,743 | 47,427 | ||||||
Change Healthcare, Inc.(a) | 12,501 | 271,397 | ||||||
Computer Programs & Systems, Inc.(a) | 440 | 13,891 | ||||||
Evolent Health, Inc., Class A(a)(b) | 4,186 | 96,027 | ||||||
Forian, Inc.(a)(b) | 1,904 | 20,335 | ||||||
Health Catalyst, Inc.(a) | 2,271 | 131,854 | ||||||
HealthStream, Inc.(a) | 1,619 | 47,291 | ||||||
Icad, Inc.(a) | 1,095 | 16,053 | ||||||
Inovalon Holdings, Inc., Class A(a) | 3,909 | 148,073 | ||||||
Inspire Medical Systems, Inc.(a) | 1,357 | 248,548 | ||||||
Multiplan Corp.(a)(b) | 19,836 | 159,680 | ||||||
NextGen Healthcare, Inc.(a) | 3,477 | 56,397 | ||||||
Omnicell, Inc.(a)(b) | 2,189 | 320,688 | ||||||
OptimizeRx Corp.(a) | 814 | 44,990 | ||||||
Phreesia, Inc.(a)(b) | 1,953 | 133,487 | ||||||
Schrodinger, Inc./United States(a) | 2,381 | 161,122 | ||||||
Simulations Plus, Inc. | 603 | 28,456 | ||||||
Tabula Rasa HealthCare, Inc.(a)(b) | 1,212 | 52,067 | ||||||
Teladoc Health, Inc.(a) | 7,575 | 1,124,509 | ||||||
Veeva Systems, Inc., Class A(a) | 7,062 | 2,349,598 | ||||||
Vocera Communications, Inc.(a) | 1,794 | 75,276 | ||||||
|
| |||||||
7,067,502 | ||||||||
Hotels, Restaurants & Leisure — 2.0% | ||||||||
Accel Entertainment, Inc.(a) | 2,234 | 24,708 | ||||||
Aramark | 11,861 | 416,677 | ||||||
Bally’s Corp.(a) | 1,697 | 83,577 | ||||||
Biglari Holdings, Inc., Class B(a) | 32 | 5,262 | ||||||
BJ’s Restaurants, Inc.(a)(b) | 1,084 | 43,989 | ||||||
Bloomin’ Brands, Inc.(a) | 4,692 | 117,910 | ||||||
Bluegreen Vacations Holding Corp.(a) | 372 | 6,439 | ||||||
Booking Holdings, Inc.(a) | 2,115 | 4,607,020 | ||||||
Boyd Gaming Corp.(a) | 4,518 | 257,526 | ||||||
Brinker International, Inc.(a) | 2,237 | 121,559 | ||||||
Caesars Entertainment, Inc.(a) | 10,330 | 902,429 | ||||||
Carnival Corp.(a) | 49,166 | 1,064,444 | ||||||
Carrols Restaurant Group, Inc.(a) | 896 | 4,399 | ||||||
Century Casinos, Inc.(a) | 1,395 | 15,638 | ||||||
Cheesecake Factory, Inc.(a) | 2,240 | 101,382 | ||||||
Chipotle Mexican Grill, Inc.(a) | 1,449 | 2,700,125 | ||||||
Choice Hotels International, Inc. | 1,851 | 221,935 | ||||||
Churchill Downs, Inc. | 1,922 | 357,108 | ||||||
Chuy’s Holdings, Inc.(a) | 1,136 | 37,488 | ||||||
Cracker Barrel Old Country Store, Inc. | 1,256 | 171,042 | ||||||
Darden Restaurants, Inc. | 7,413 | 1,081,408 | ||||||
Dave & Buster’s Entertainment, Inc.(a) | 2,569 | 85,496 | ||||||
Del Taco Restaurants, Inc. | 678 | 5,770 | ||||||
Denny’s Corp.(a) | 3,384 | 47,613 | ||||||
Dine Brands Global, Inc.(a) | 887 | 68,716 |
Security | Shares | Value | ||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
Domino’s Pizza, Inc. | 2,006 | $ | 1,054,133 | |||||
DraftKings, Inc., Class A(a) | 15,850 | 768,725 | ||||||
Drive Shack, Inc.(a) | 6,737 | 16,977 | ||||||
El Pollo Loco Holdings, Inc.(a) | 399 | 7,425 | ||||||
Everi Holdings, Inc.(a) | 3,894 | 88,355 | ||||||
Expedia Group, Inc.(a) | 7,312 | 1,176,281 | ||||||
Fiesta Restaurant Group, Inc.(a) | 813 | 10,886 | ||||||
Full House Resorts, Inc.(a) | 2,239 | 18,517 | ||||||
GAN Ltd.(a)(b) | 2,249 | 34,410 | ||||||
Golden Entertainment, Inc.(a) | 1,082 | 49,242 | ||||||
Golden Nugget Online Gaming, Inc.(a)(b) | 1,705 | 19,539 | ||||||
Hall of Fame Resort & Entertainment Co.(a)(b) | 5,096 | 15,084 | ||||||
Hilton Grand Vacations, Inc.(a) | 4,375 | 177,931 | ||||||
Hilton Worldwide Holdings, Inc.(a) | 14,132 | 1,857,651 | ||||||
Hyatt Hotels Corp., Class A(a) | 1,944 | 155,267 | ||||||
International Game Technology PLC(a) | 5,138 | 96,338 | ||||||
Jack in the Box, Inc. | 1,145 | 124,645 | ||||||
Las Vegas Sands Corp.(a) | 16,815 | 712,115 | ||||||
Lindblad Expeditions Holdings, Inc.(a) | 2,077 | 28,434 | ||||||
Marriott International, Inc., Class A(a) | 14,038 | 2,049,267 | ||||||
Marriott Vacations Worldwide Corp.(a) | 2,091 | 308,151 | ||||||
McDonald’s Corp. | 38,477 | 9,338,753 | ||||||
MGM Resorts International | 20,703 | 776,984 | ||||||
Monarch Casino & Resort, Inc.(a) | 605 | 38,629 | ||||||
Nathan’s Famous, Inc. | 339 | 21,781 | ||||||
NEOGAMES SA(a) | 318 | 15,344 | ||||||
Noodles & Co.(a) | 1,836 | 21,922 | ||||||
Norwegian Cruise Line Holdings Ltd.(a)(b) | 19,683 | 472,983 | ||||||
Papa John’s International, Inc. | 1,730 | 197,428 | ||||||
Penn National Gaming, Inc.(a) | 7,915 | 541,228 | ||||||
Planet Fitness, Inc., Class A(a) | 4,244 | 319,276 | ||||||
PlayAGS, Inc.(a) | 1,281 | 9,941 | ||||||
RCI Hospitality Holdings, Inc. | 294 | 18,451 | ||||||
Red Robin Gourmet Burgers, Inc.(a) | 441 | 11,567 | ||||||
Red Rock Resorts, Inc., Class A(a) | 3,336 | 131,438 | ||||||
Royal Caribbean Cruises Ltd.(a) | 11,092 | 852,642 | ||||||
Rush Street Interactive, Inc.(a)(b) | 2,591 | 25,521 | ||||||
Ruth’s Hospitality Group, Inc.(a) | 1,993 | 39,800 | ||||||
Scientific Games Corp., Class A(a) | 4,834 | 298,306 | ||||||
SeaWorld Entertainment, Inc.(a) | 2,719 | 128,908 | ||||||
Shake Shack, Inc., Class A(a) | 1,893 | 190,322 | ||||||
Six Flags Entertainment Corp.(a) | 3,939 | 163,665 | ||||||
Starbucks Corp. | 60,895 | 7,394,480 | ||||||
Target Hospitality Corp.(a) | 2,425 | 8,682 | ||||||
Texas Roadhouse, Inc. | 3,570 | 329,047 | ||||||
Travel + Leisure Co. | 4,453 | 230,665 | ||||||
Vail Resorts, Inc.(a) | 2,046 | 624,439 | ||||||
Wendy’s Co. | 9,259 | 214,901 | ||||||
Wingstop, Inc. | 1,521 | 260,563 | ||||||
Wyndham Hotels & Resorts, Inc. | 4,582 | 330,179 | ||||||
Wynn Resorts Ltd.(a) | 5,353 | 526,361 | ||||||
Yum China Holdings, Inc. | 21,881 | 1,360,779 | ||||||
Yum! Brands, Inc. | 15,712 | 2,064,400 | ||||||
|
| |||||||
48,278,418 | ||||||||
Household Durables — 0.5% | ||||||||
Aterian, Inc.(a)(b) | 1,384 | 12,498 | ||||||
Bassett Furniture Industries, Inc. | 916 | 20,867 | ||||||
Beazer Homes USA, Inc.(a) | 1,012 | 18,479 | ||||||
Casper Sleep, Inc.(a)(b) | 2,539 | 17,545 | ||||||
Cavco Industries, Inc.(a) | 513 | 120,555 | ||||||
Century Communities, Inc. | 1,627 | 112,995 | ||||||
D.R. Horton, Inc. | 17,171 | 1,638,629 |
62 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Household Durables (continued) | ||||||||
Ethan Allen Interiors, Inc. | 842 | $ | 20,014 | |||||
Flexsteel Industries, Inc. | 518 | 17,871 | ||||||
Garmin Ltd. | 7,867 | 1,236,692 | ||||||
GoPro, Inc., Class A(a) | 5,660 | 57,958 | ||||||
Green Brick Partners, Inc.(a) | 6,180 | 154,933 | ||||||
Hamilton Beach Brands Holding Co., Class A | 190 | 3,551 | ||||||
Helen of Troy Ltd.(a) | 1,318 | 294,428 | ||||||
Hooker Furniture Corp. | 333 | 11,052 | ||||||
Hovnanian Enterprises, Inc., Class A(a) | 259 | 27,037 | ||||||
Installed Building Products, Inc. | 1,230 | 147,600 | ||||||
iRobot Corp.(a) | 1,438 | 125,825 | ||||||
KB Home | 4,712 | 199,977 | ||||||
La-Z-Boy, Inc. | 2,410 | 80,928 | ||||||
Leggett & Platt, Inc. | 6,659 | 319,832 | ||||||
Lennar Corp., B Shares | 1,295 | 111,823 | ||||||
Lennar Corp., Class A | 13,556 | 1,425,413 | ||||||
LGI Homes, Inc.(a) | 1,036 | 177,052 | ||||||
Lifetime Brands, Inc. | 464 | 6,992 | ||||||
Lovesac Co.(a)(b) | 653 | 39,637 | ||||||
M/I Homes, Inc.(a) | 1,521 | 98,424 | ||||||
MDC Holdings, Inc. | 2,849 | 151,909 | ||||||
Meritage Homes Corp.(a) | 2,069 | 224,652 | ||||||
Mohawk Industries, Inc.(a) | 2,939 | 572,811 | ||||||
Newell Brands, Inc. | 19,070 | 471,983 | ||||||
NVR, Inc.(a) | 168 | 877,397 | ||||||
PulteGroup, Inc. | 13,426 | 736,685 | ||||||
Purple Innovation, Inc.(a) | 2,564 | 67,536 | ||||||
Skyline Champion Corp.(a) | 2,745 | 154,818 | ||||||
Sonos, Inc.(a) | 6,101 | 203,651 | ||||||
Taylor Morrison Home Corp.(a) | 6,404 | 171,755 | ||||||
Tempur Sealy International, Inc. | 9,447 | 408,772 | ||||||
Toll Brothers, Inc. | 5,780 | 342,581 | ||||||
TopBuild Corp.(a) | 1,681 | 340,722 | ||||||
Tri Pointe Homes, Inc.(a) | 6,899 | 166,404 | ||||||
Tupperware Brands Corp.(a) | 2,306 | 48,172 | ||||||
Universal Electronics, Inc.(a) | 483 | 22,575 | ||||||
VOXX International Corp.(a) | 1,140 | 13,019 | ||||||
Vuzix Corp.(a) | 2,953 | 43,704 | ||||||
Whirlpool Corp. | 3,122 | 691,648 | ||||||
|
| |||||||
12,209,401 | ||||||||
Household Products — 1.1% | ||||||||
Central Garden & Pet Co.(a) | 682 | 32,934 | ||||||
Central Garden & Pet Co., Class A(a) | 1,849 | 80,080 | ||||||
Church & Dwight Co., Inc. | 12,702 | 1,099,739 | ||||||
Clorox Co. | 6,934 | 1,254,291 | ||||||
Colgate-Palmolive Co. | 44,407 | 3,530,357 | ||||||
Energizer Holdings, Inc. | 3,583 | 153,532 | ||||||
Kimberly-Clark Corp. | 17,311 | 2,349,449 | ||||||
Oil-Dri Corp. of America | 141 | 5,015 | ||||||
Procter & Gamble Co. | 126,098 | 17,934,919 | ||||||
Reynolds Consumer Products Inc. | 2,901 | 82,533 | ||||||
Spectrum Brands Holdings, Inc. | 2,158 | 188,501 | ||||||
WD-40 Co. | 706 | 171,551 | ||||||
|
| |||||||
26,882,901 | ||||||||
Independent Power and Renewable Electricity Producers — 0.1% | ||||||||
AES Corp. | 34,373 | 814,640 | ||||||
Brookfield Renewable Corp., Class A | 6,404 | 271,786 | ||||||
Clearway Energy, Inc., Class A | 2,467 | 66,486 | ||||||
Clearway Energy, Inc., Class C | 3,675 | 105,399 | ||||||
Ormat Technologies, Inc. | 2,201 | 153,498 |
Security | Shares | Value | ||||||
Independent Power and Renewable Electricity Producers (continued) | ||||||||
Sunnova Energy International, Inc.(a)(b) | 4,344 | $ | 165,506 | |||||
Vistra Corp. | 24,343 | 466,168 | ||||||
|
| |||||||
2,043,483 | ||||||||
Industrial Conglomerates — 1.0% | ||||||||
3M Co. | 30,343 | 6,006,094 | ||||||
General Electric Co. | 459,257 | 5,947,378 | ||||||
Honeywell International, Inc. | 36,261 | 8,477,459 | ||||||
Raven Industries, Inc.(a) | 1,924 | 112,073 | ||||||
Roper Technologies, Inc. | 5,394 | 2,650,288 | ||||||
|
| |||||||
23,193,292 | ||||||||
Insurance — 1.9% | ||||||||
Aflac, Inc. | 34,764 | 1,912,020 | ||||||
Alleghany Corp.(a) | 716 | 474,780 | ||||||
Allstate Corp. | 15,348 | 1,996,007 | ||||||
Ambac Financial Group, Inc.(a) | 1,699 | 24,669 | ||||||
American Equity Investment Life Holding Co. | 4,364 | 140,041 | ||||||
American Financial Group, Inc. | 3,478 | 439,932 | ||||||
American International Group, Inc. | 44,210 | 2,093,344 | ||||||
American National Group, Inc. | 327 | 53,948 | ||||||
AMERISAFE, Inc. | 924 | 52,853 | ||||||
Aon PLC, Class A | 11,556 | 3,004,907 | ||||||
Arch Capital Group Ltd.(a) | 19,980 | 779,220 | ||||||
Argo Group International Holdings Ltd. | 1,747 | 91,071 | ||||||
Arthur J. Gallagher & Co. | 10,473 | 1,458,994 | ||||||
Assurant, Inc. | 3,053 | 481,794 | ||||||
Assured Guaranty Ltd. | 2,078 | 99,349 | ||||||
Athene Holding Ltd., Class A(a) | 5,860 | 378,673 | ||||||
Axis Capital Holdings Ltd. | 4,196 | 213,451 | ||||||
Brighthouse Financial, Inc.(a) | 4,515 | 194,416 | ||||||
Brown & Brown, Inc. | 12,107 | 658,621 | ||||||
BRP Group, Inc., Class A(a) | 2,348 | 64,006 | ||||||
Chubb Ltd. | 23,064 | 3,891,819 | ||||||
Cincinnati Financial Corp. | 7,810 | 920,643 | ||||||
Citizens, Inc.(a)(b) | 3,588 | 19,232 | ||||||
CNA Financial Corp. | 1,745 | 76,797 | ||||||
CNO Financial Group, Inc. | 7,685 | 175,525 | ||||||
eHealth, Inc.(a) | 1,290 | 67,093 | ||||||
Employers Holdings, Inc. | 798 | 33,133 | ||||||
Enstar Group Ltd.(a) | 676 | 173,746 | ||||||
Erie Indemnity Co., Class A | 1,366 | 252,560 | ||||||
Everest Re Group Ltd. | 2,018 | 510,211 | ||||||
Fidelity National Financial, Inc. | 14,474 | 645,685 | ||||||
First American Financial Corp. | 5,470 | 368,186 | ||||||
Genworth Financial, Inc., Class A(a) | 15,800 | 52,772 | ||||||
Globe Life, Inc. | 5,130 | 477,654 | ||||||
GoHealth, Inc., Class A(a) | 3,067 | 26,990 | ||||||
Goosehead Insurance, Inc., Class A | 889 | 106,849 | ||||||
Greenlight Capital Re Ltd., Class A(a) | 1,310 | 11,528 | ||||||
Hanover Insurance Group, Inc. | 1,944 | 264,190 | ||||||
Hartford Financial Services Group, Inc. | 18,120 | 1,152,794 | ||||||
HCI Group, Inc. | 211 | 21,201 | ||||||
Heritage Insurance Holdings, Inc. | 585 | 4,294 | ||||||
Horace Mann Educators Corp. | 1,576 | 62,741 | ||||||
Independence Holding Co. | 268 | 11,990 | ||||||
Investors Title Co. | 51 | 8,493 | ||||||
James River Group Holdings Ltd. | 3,686 | 134,097 | ||||||
Kemper Corp. | 3,156 | 208,328 | ||||||
Kinsale Capital Group, Inc. | 1,124 | 200,797 | ||||||
Lemonade, Inc.(a) | 1,938 | 168,722 |
S C H E D U L E O F I N V E S T M E N T S | 63 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Insurance (continued) | ||||||||
Lincoln National Corp. | 9,737 | $ | 599,994 | |||||
Loews Corp. | 11,580 | 621,035 | ||||||
Maiden Holdings Ltd.(a) | 6,872 | 23,227 | ||||||
Markel Corp.(a) | 697 | 840,700 | ||||||
Marsh & McLennan Cos., Inc. | 26,164 | 3,851,864 | ||||||
MBIA, Inc.(a) | 2,769 | 36,135 | ||||||
Mercury General Corp. | 1,465 | 89,116 | ||||||
MetLife, Inc. | 38,198 | 2,204,025 | ||||||
MetroMile, Inc.(a)(b) | 2,436 | 17,271 | ||||||
National Western Life Group, Inc., Class A | 82 | 17,047 | ||||||
Old Republic International Corp. | 14,247 | 351,331 | ||||||
Palomar Holdings, Inc.(a) | 1,248 | 101,625 | ||||||
Primerica, Inc. | 2,043 | 298,727 | ||||||
Principal Financial Group, Inc. | 14,027 | 871,498 | ||||||
ProAssurance Corp. | 1,892 | 38,370 | ||||||
Progressive Corp. | 31,240 | 2,972,798 | ||||||
Prudential Financial, Inc. | 20,325 | 2,038,191 | ||||||
Reinsurance Group of America, Inc. | 3,554 | 391,580 | ||||||
RenaissanceRe Holdings Ltd. | 2,519 | 384,626 | ||||||
RLI Corp. | 2,017 | 218,602 | ||||||
Safety Insurance Group, Inc. | 657 | 50,339 | ||||||
Selective Insurance Group, Inc. | 3,146 | 255,927 | ||||||
Selectquote, Inc.(a) | 6,404 | 113,991 | ||||||
SiriusPoint Ltd.(a)(b) | 6,850 | 67,130 | ||||||
State Auto Financial Corp. | 2,725 | 136,250 | ||||||
Stewart Information Services Corp. | 1,098 | 64,793 | ||||||
Tiptree, Inc. | 2,116 | 20,335 | ||||||
Travelers Cos., Inc. | 12,943 | 1,927,472 | ||||||
Trean Insurance Group, Inc.(a) | 1,480 | 19,965 | ||||||
Trupanion, Inc.(a) | 2,732 | 314,235 | ||||||
United Fire Group, Inc. | 693 | 17,270 | ||||||
United Insurance Holdings Corp. | 649 | 2,843 | ||||||
Universal Insurance Holdings, Inc. | 1,090 | 15,434 | ||||||
Unum Group | 10,389 | 284,659 | ||||||
W.R. Berkley Corp. | 7,114 | 520,531 | ||||||
White Mountains Insurance Group Ltd. | 162 | 183,314 | ||||||
Willis Towers Watson PLC | 6,647 | 1,369,814 | ||||||
|
| |||||||
45,992,230 | ||||||||
Interactive Media & Services(a) — 5.8% | ||||||||
Alphabet, Inc., Class A | 15,616 | 42,077,780 | ||||||
Alphabet, Inc., Class C | 14,678 | 39,695,477 | ||||||
Cargurus, Inc. | 4,841 | 138,453 | ||||||
Cars.com, Inc. | 2,829 | 34,174 | ||||||
Eventbrite, Inc., Class A(b) | 4,028 | 71,578 | ||||||
EverQuote, Inc., Class A | 1,224 | 36,940 | ||||||
Facebook, Inc., Class A | 124,153 | 44,235,714 | ||||||
fuboTV, Inc. | 6,609 | 172,098 | ||||||
IAC/InterActiveCorp | 4,001 | 549,297 | ||||||
Liberty TripAdvisor Holdings, Inc., Class A | 2,921 | 12,210 | ||||||
Match Group, Inc.(b) | 13,879 | 2,210,508 | ||||||
MediaAlpha, Inc., Class A | 1,139 | 38,043 | ||||||
Pinterest, Inc., Class A | 28,173 | 1,659,390 | ||||||
QuinStreet, Inc. | 3,046 | 55,864 | ||||||
TripAdvisor, Inc. | 4,950 | 187,852 | ||||||
TrueCar, Inc.(b) | 5,805 | 30,534 | ||||||
Twitter, Inc. | 41,778 | 2,914,015 | ||||||
Vimeo, Inc. | 6,710 | 300,608 | ||||||
Yelp, Inc. | 3,419 | 127,871 |
Security | Shares | Value | ||||||
Interactive Media & Services (continued) | ||||||||
Zillow Group, Inc., Class A | 3,251 | $ | 348,280 | |||||
Zillow Group, Inc., Class C(b) | 8,281 | 879,939 | ||||||
|
| |||||||
135,776,625 | ||||||||
Internet & Direct Marketing Retail — 3.5% | ||||||||
1-800-Flowers.com, Inc., Class A(a)(b) | 1,280 | 39,040 | ||||||
Amazon.com, Inc.(a) | 22,513 | 74,914,034 | ||||||
CarParts.com, Inc.(a) | 2,466 | 43,426 | ||||||
DoorDash, Inc., Class A(a) | 4,375 | 762,519 | ||||||
Duluth Holdings, Inc., Class B(a)(b) | 1,416 | 21,198 | ||||||
eBay, Inc. | 36,659 | 2,500,510 | ||||||
Etsy, Inc.(a) | 6,542 | 1,200,522 | ||||||
Groupon, Inc.(a) | 1,225 | 44,553 | ||||||
Lands’ End, Inc.(a) | 889 | 34,075 | ||||||
Liquidity Services, Inc.(a) | 954 | 18,927 | ||||||
Overstock.com, Inc.(a)(b) | 2,193 | 152,721 | ||||||
PetMed Express, Inc. | 1,061 | 33,305 | ||||||
Porch Group, Inc.(a) | 1,141 | 21,143 | ||||||
Quotient Technology, Inc.(a) | 4,746 | 51,542 | ||||||
Qurate Retail, Inc., Series A | 19,025 | 225,636 | ||||||
RealReal, Inc.(a)(b) | 4,179 | 68,995 | ||||||
Revolve Group, Inc.(a) | 1,803 | 125,507 | ||||||
Shutterstock, Inc. | 1,188 | 128,886 | ||||||
Stamps.com, Inc.(a) | 906 | 296,045 | ||||||
Stitch Fix, Inc., Class A(a) | 3,000 | 161,760 | ||||||
Wayfair, Inc., Class A(a)(b) | 3,886 | 937,925 | ||||||
|
| |||||||
81,782,269 | ||||||||
IT Services — 5.2% | ||||||||
Accenture PLC, Class A | 33,043 | 10,497,100 | ||||||
Akamai Technologies, Inc.(a)(b) | 8,405 | 1,007,928 | ||||||
Alliance Data Systems Corp. | 2,447 | 228,183 | ||||||
Amdocs Ltd. | 6,859 | 528,898 | ||||||
Automatic Data Processing, Inc. | 21,905 | 4,591,945 | ||||||
BigCommerce Holdings, Inc., Series-1(a) | 2,370 | 153,481 | ||||||
BM Technologies, Inc.(a) | 164 | 1,645 | ||||||
Brightcove, Inc.(a) | 2,245 | 25,750 | ||||||
Broadridge Financial Solutions, Inc. | 5,991 | 1,039,379 | ||||||
Cantaloupe, Inc.(a) | 2,911 | 30,100 | ||||||
Cass Information Systems, Inc. | 434 | 19,135 | ||||||
Cognizant Technology Solutions Corp., Class A | 27,210 | 2,000,751 | ||||||
Concentrix Corp.(a) | 2,156 | 353,002 | ||||||
Conduent, Inc.(a) | 7,311 | 49,057 | ||||||
CSG Systems International, Inc. | 1,739 | 78,881 | ||||||
DigitalOcean Holdings, Inc.(a)(b) | 629 | 32,394 | ||||||
DXC Technology Co.(a) | 12,930 | 516,941 | ||||||
EPAM Systems, Inc.(a) | 2,767 | 1,548,967 | ||||||
Euronet Worldwide, Inc.(a) | 2,568 | 366,762 | ||||||
EVERTEC, Inc. | 3,340 | 145,958 | ||||||
Evo Payments, Inc., Class A(a)(b) | 2,672 | 78,022 | ||||||
ExlService Holdings, Inc.(a) | 1,645 | 186,247 | ||||||
Fastly, Inc., Class A(a)(b) | 5,354 | 257,367 | ||||||
Fidelity National Information Services, Inc. | 31,934 | 4,759,763 | ||||||
Fiserv, Inc.(a) | 30,858 | 3,552,064 | ||||||
FleetCor Technologies, Inc.(a) | 4,258 | 1,099,501 | ||||||
Gartner, Inc.(a) | 4,653 | 1,231,789 | ||||||
Genpact Ltd. | 9,626 | 479,471 | ||||||
Global Payments, Inc. | 15,138 | 2,927,841 | ||||||
Globant SA(a) | 1,977 | 472,819 | ||||||
GoDaddy, Inc., Class A(a) | 8,553 | 717,169 | ||||||
GreenSky, Inc., Class A(a) | 2,934 | 19,276 | ||||||
Grid Dynamics Holdings, Inc.(a)(b) | 1,539 | 32,396 |
64 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
Hackett Group, Inc. | 1,720 | $ | 30,822 | |||||
I3 Verticals, Inc., Class A(a) | 1,114 | 35,559 | ||||||
International Business Machines Corp. | 46,068 | 6,493,745 | ||||||
International Money Express, Inc.(a) | 2,474 | 40,054 | ||||||
Jack Henry & Associates, Inc. | 3,747 | 652,315 | ||||||
Limelight Networks, Inc.(a) | 5,082 | 14,280 | ||||||
LiveRamp Holdings, Inc.(a) | 3,611 | 144,476 | ||||||
Mastercard, Inc., Class A | 45,427 | 17,532,096 | ||||||
MAXIMUS, Inc. | 3,222 | 286,758 | ||||||
MoneyGram International, Inc.(a) | 3,547 | 36,676 | ||||||
MongoDB, Inc.(a) | 2,743 | 984,518 | ||||||
Okta, Inc.(a) | 6,403 | 1,586,599 | ||||||
Paya Holdings, Inc.(a)(b) | 4,078 | 46,856 | ||||||
Paychex, Inc. | 16,542 | 1,882,810 | ||||||
PayPal Holdings, Inc.(a) | 60,922 | 16,785,839 | ||||||
Paysafe Ltd.(a)(b) | 15,509 | 167,342 | ||||||
Perficient, Inc.(a) | 1,668 | 157,276 | ||||||
Rackspace Technology, Inc.(a)(b) | 2,884 | 51,191 | ||||||
Repay Holdings Corp.(a) | 3,893 | 96,975 | ||||||
Sabre Corp.(a) | 15,627 | 184,242 | ||||||
Shift4 Payments, Inc., Class A(a) | 2,138 | 190,688 | ||||||
Snowflake, Inc., Class A(a) | 6,153 | 1,634,975 | ||||||
SolarWinds Corp. | 3,509 | 39,441 | ||||||
Square, Inc., Class A(a) | 20,571 | 5,086,386 | ||||||
StarTek, Inc.(a) | 3,279 | 23,019 | ||||||
StoneCo Ltd., Class A(a) | 13,166 | 774,687 | ||||||
Switch, Inc., Class A | 5,766 | 119,126 | ||||||
Sykes Enterprises, Inc.(a) | 2,011 | 107,910 | ||||||
TTEC Holdings, Inc. | 1,040 | 108,680 | ||||||
Tucows, Inc., Class A(a) | 474 | 36,858 | ||||||
Twilio, Inc., Class A(a) | 8,626 | 3,222,587 | ||||||
Unisys Corp.(a) | 3,469 | 77,532 | ||||||
VeriSign, Inc.(a) | 5,091 | 1,101,540 | ||||||
Verra Mobility Corp.(a) | 6,861 | 105,042 | ||||||
Visa, Inc., Class A | 87,687 | 21,605,200 | ||||||
Western Union Co. | 21,329 | 495,046 | ||||||
WEX, Inc.(a) | 2,273 | 431,256 | ||||||
Wix.com Ltd.(a) | 2,770 | 827,233 | ||||||
|
| |||||||
122,227,617 | ||||||||
Leisure Products — 0.2% | ||||||||
Acushnet Holdings Corp. | 1,764 | 90,370 | ||||||
American Outdoor Brands, Inc.(a) | 1,158 | 31,243 | ||||||
AMMO, Inc.(a) | 3,293 | 22,293 | ||||||
Brunswick Corp. | 3,945 | 411,858 | ||||||
Callaway Golf Co.(a) | 5,841 | 185,043 | ||||||
Clarus Corp. | 461 | 13,147 | ||||||
Escalade, Inc. | 501 | 11,373 | ||||||
Genius Brands International, Inc.(a)(b) | 13,975 | 21,941 | ||||||
Hasbro, Inc. | 6,575 | 653,818 | ||||||
Hayward Holdings, Inc.(a) | 1,760 | 42,398 | ||||||
Johnson Outdoors, Inc., Class A | 138 | 16,335 | ||||||
Latham Group, Inc.(a)(b) | 1,114 | 30,390 | ||||||
Malibu Boats, Inc., Class A(a) | 936 | 78,306 | ||||||
MasterCraft Boat Holdings, Inc.(a) | 1,420 | 37,857 | ||||||
Mattel, Inc.(a) | 17,602 | 382,315 | ||||||
Nautilus, Inc.(a)(b) | 1,478 | 21,357 | ||||||
Peloton Interactive, Inc., Class A(a) | 14,560 | 1,718,808 | ||||||
Polaris, Inc. | 2,872 | 376,433 | ||||||
Smith & Wesson Brands, Inc. | 2,956 | 69,318 |
Security | Shares | Value | ||||||
Leisure Products (continued) | ||||||||
Sturm Ruger & Co., Inc. | 1,052 | $ | 78,227 | |||||
Vista Outdoor, Inc.(a) | 3,007 | 121,453 | ||||||
YETI Holdings, Inc.(a)(b) | 4,375 | 421,444 | ||||||
|
| |||||||
4,835,727 | ||||||||
Life Sciences Tools & Services — 1.4% | ||||||||
10X Genomics, Inc., Class A(a) | 4,353 | 797,600 | ||||||
Adaptive Biotechnologies Corp.(a) | 5,395 | 197,781 | ||||||
Agilent Technologies, Inc. | 15,712 | 2,407,550 | ||||||
Avantor, Inc.(a) | 29,882 | 1,122,966 | ||||||
Berkeley Lights, Inc.(a) | 2,417 | 110,167 | ||||||
Bionano Genomics, Inc.(a)(b) | 14,144 | 83,874 | ||||||
Bio-Rad Laboratories, Inc., Class A(a) | 1,112 | 822,335 | ||||||
Bio-Techne Corp. | 2,011 | 969,785 | ||||||
Bruker Corp. | 5,196 | 427,371 | ||||||
Charles River Laboratories International, Inc.(a) | 2,530 | 1,029,508 | ||||||
ChromaDex Corp.(a)(b) | 2,577 | 22,394 | ||||||
Codexis, Inc.(a) | 2,533 | 53,598 | ||||||
Fluidigm Corp.(a)(b) | 5,382 | 39,881 | ||||||
Harvard Bioscience, Inc.(a) | 3,253 | 25,666 | ||||||
Illumina, Inc.(a)(b) | 7,519 | 3,727,544 | ||||||
Inotiv, Inc.(a) | 753 | 19,668 | ||||||
IQVIA Holdings, Inc.(a) | 9,844 | 2,438,359 | ||||||
Maravai LifeSciences Holdings, Inc., Class A(a) | 4,104 | 180,453 | ||||||
Medpace Holdings, Inc.(a) | 1,493 | 262,678 | ||||||
Mettler-Toledo International, Inc.(a) | 1,181 | 1,740,451 | ||||||
NanoString Technologies, Inc.(a) | 2,353 | 145,745 | ||||||
NeoGenomics, Inc.(a) | 5,670 | 261,387 | ||||||
Pacific Biosciences of California, Inc.(a) | 9,840 | 316,356 | ||||||
PerkinElmer, Inc. | 5,709 | 1,040,351 | ||||||
Personalis, Inc.(a) | 1,910 | 40,091 | ||||||
PPD, Inc.(a) | 8,267 | 381,274 | ||||||
QIAGEN NV(a) | 11,797 | 622,764 | ||||||
Quanterix Corp.(a) | 1,710 | 90,886 | ||||||
Repligen Corp.(a) | 2,776 | 682,063 | ||||||
Seer, Inc.(a) | 962 | 30,726 | ||||||
Sotera Health Co.(a) | 4,281 | 101,460 | ||||||
Syneos Health, Inc.(a) | 5,205 | 466,732 | ||||||
Thermo Fisher Scientific, Inc. | 20,219 | 10,918,462 | ||||||
Waters Corp.(a) | 3,155 | 1,229,851 | ||||||
|
| |||||||
32,807,777 | ||||||||
Machinery — 1.9% | ||||||||
AGCO Corp. | 3,189 | 421,299 | ||||||
AgEagle Aerial Systems, Inc.(a) | 4,287 | 17,062 | ||||||
Alamo Group, Inc. | 524 | 76,907 | ||||||
Albany International Corp., Class A | 1,571 | 135,656 | ||||||
Allison Transmission Holdings, Inc. | 5,509 | 219,864 | ||||||
Altra Industrial Motion Corp. | 3,350 | 209,978 | ||||||
Astec Industries, Inc. | 1,337 | 81,971 | ||||||
Barnes Group, Inc. | 2,596 | 131,539 | ||||||
Blue Bird Corp.(a) | 429 | 10,725 | ||||||
Caterpillar, Inc. | 28,789 | 5,952,126 | ||||||
Chart Industries, Inc.(a) | 1,856 | 288,515 | ||||||
CIRCOR International, Inc.(a) | 747 | 23,037 | ||||||
Colfax Corp.(a) | 5,935 | 272,298 | ||||||
Columbus McKinnon Corp. | 1,466 | 68,022 | ||||||
Commercial Vehicle Group, Inc.(a) | 2,001 | 18,289 | ||||||
Crane Co. | 2,527 | 245,700 | ||||||
Cummins, Inc. | 7,533 | 1,748,409 | ||||||
Deere & Co. | 14,838 | 5,365,272 |
S C H E D U L E O F I N V E S T M E N T S | 65 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Machinery (continued) | ||||||||
Desktop Metal, Inc., Class A(a)(b) | 4,229 | $ | 38,061 | |||||
Donaldson Co., Inc. | 6,451 | 426,992 | ||||||
Douglas Dynamics, Inc. | 1,306 | 52,109 | ||||||
Dover Corp. | 7,337 | 1,226,159 | ||||||
Energy Recovery, Inc.(a)(b) | 2,318 | 49,026 | ||||||
Enerpac Tool Group Corp. | 3,044 | 78,139 | ||||||
EnPro Industries, Inc. | 1,210 | 112,675 | ||||||
ESCO Technologies, Inc. | 1,470 | 138,724 | ||||||
Evoqua Water Technologies Corp.(a) | 6,166 | 203,540 | ||||||
ExOne Co.(a) | 1,451 | 24,087 | ||||||
Federal Signal Corp. | 2,841 | 112,532 | ||||||
Flowserve Corp. | 6,751 | 284,150 | ||||||
Fortive Corp. | 16,896 | 1,227,663 | ||||||
Franklin Electric Co., Inc. | 2,238 | 182,979 | ||||||
Gates Industrial Corp. PLC(a) | 3,592 | 65,051 | ||||||
Gorman-Rupp Co. | 1,213 | 43,292 | ||||||
Graco, Inc. | 8,500 | 663,680 | ||||||
Greenbrier Cos., Inc. | 1,846 | 79,009 | ||||||
Helios Technologies, Inc. | 1,637 | 132,351 | ||||||
Hillenbrand, Inc. | 3,849 | 174,360 | ||||||
Hydrofarm Holdings Group, Inc.(a) | 634 | 31,282 | ||||||
Hyliion Holdings Corp.(a)(b) | 5,934 | 57,560 | ||||||
Hyster-Yale Materials Handling, Inc. | 750 | 53,730 | ||||||
Ideanomics, Inc.(a)(b) | 20,556 | 48,718 | ||||||
IDEX Corp. | 3,928 | 890,438 | ||||||
Illinois Tool Works, Inc. | 16,170 | 3,665,254 | ||||||
Ingersoll Rand, Inc.(a) | 19,396 | 947,883 | ||||||
ITT, Inc. | 4,225 | 413,670 | ||||||
John Bean Technologies Corp. | 1,635 | 239,658 | ||||||
Kadant, Inc. | 660 | 118,886 | ||||||
Kennametal, Inc. | 3,870 | 140,288 | ||||||
Lincoln Electric Holdings, Inc. | 2,812 | 392,077 | ||||||
Lindsay Corp. | 692 | 111,198 | ||||||
Luxfer Holdings PLC | 874 | 18,223 | ||||||
Lydall, Inc.(a) | 893 | 54,652 | ||||||
Manitowoc Co., Inc.(a) | 2,189 | 50,675 | ||||||
Meritor, Inc.(a) | 3,648 | 88,756 | ||||||
Middleby Corp.(a) | 2,900 | 555,321 | ||||||
Miller Industries, Inc. | 363 | 13,616 | ||||||
Mueller Industries, Inc. | 3,579 | 155,329 | ||||||
Mueller Water Products, Inc., Class A | 8,205 | 121,598 | ||||||
Nikola Corp.(a)(b) | 9,997 | 118,664 | ||||||
NN, Inc.(a) | 2,043 | 13,974 | ||||||
Nordson Corp. | 3,025 | 684,043 | ||||||
Omega Flex, Inc. | 130 | 20,387 | ||||||
Oshkosh Corp. | 3,471 | 414,958 | ||||||
Otis Worldwide Corp. | 22,042 | 1,973,861 | ||||||
PACCAR, Inc. | 17,553 | 1,456,723 | ||||||
Parker-Hannifin Corp. | 6,622 | 2,066,263 | ||||||
Park-Ohio Holdings Corp. | 132 | 3,840 | ||||||
Pentair PLC | 8,611 | 634,372 | ||||||
Proto Labs, Inc.(a) | 1,431 | 111,890 | ||||||
RBC Bearings, Inc.(a)(b) | 1,253 | 294,455 | ||||||
REV Group, Inc. | 1,078 | 16,289 | ||||||
Rexnord Corp. | 6,054 | 341,022 | ||||||
Shyft Group, Inc. | 1,974 | 77,855 | ||||||
Snap-on, Inc. | 2,798 | 609,908 | ||||||
SPX Corp.(a) | 2,297 | 153,118 | ||||||
SPX FLOW, Inc. | 2,188 | 179,744 | ||||||
Standex International Corp. | 643 | 59,156 | ||||||
Stanley Black & Decker, Inc. | 8,317 | 1,638,865 | ||||||
Tennant Co. | 1,312 | 103,805 |
Security | Shares | Value | ||||||
Machinery (continued) | ||||||||
Terex Corp. | 3,675 | $ | 176,106 | |||||
Timken Co. | 3,197 | 254,162 | ||||||
Titan International, Inc.(a) | 2,632 | 22,688 | ||||||
Toro Co. | 5,539 | 630,006 | ||||||
TriMas Corp.(a) | 2,253 | 73,718 | ||||||
Trinity Industries, Inc. | 4,771 | 129,342 | ||||||
Wabash National Corp. | 1,971 | 28,855 | ||||||
Watts Water Technologies, Inc., Class A | 1,319 | 198,852 | ||||||
Welbilt, Inc.(a) | 6,434 | 151,135 | ||||||
Westinghouse Air Brake Technologies Corp. | 9,292 | 788,612 | ||||||
Woodward, Inc. | 2,942 | 357,630 | ||||||
Xylem, Inc. | 9,234 | 1,162,099 | ||||||
|
| |||||||
43,716,457 | ||||||||
Marine — 0.0% | ||||||||
Costamare, Inc. | 3,080 | 33,387 | ||||||
Eagle Bulk Shipping, Inc.(a)(b) | 778 | 32,442 | ||||||
Genco Shipping & Trading Ltd. | 1,092 | 19,165 | ||||||
Kirby Corp.(a) | 3,091 | 179,000 | ||||||
Matson, Inc. | 2,250 | 151,020 | ||||||
Safe Bulkers, Inc.(a) | 2,358 | 7,876 | ||||||
|
| |||||||
422,890 | ||||||||
Media — 1.3% | ||||||||
Advantage Solutions, Inc.(a) | 3,751 | 36,685 | ||||||
Altice USA, Inc., Class A(a) | 11,308 | 347,495 | ||||||
AMC Networks, Inc., Class A(a) | 1,603 | 80,214 | ||||||
Boston Omaha Corp., Class A(a) | 863 | 28,229 | ||||||
Cable One, Inc. | 272 | 513,533 | ||||||
Cardlytics, Inc.(a) | 1,613 | 203,173 | ||||||
Charter Communications, Inc., Class A(a) | 6,777 | 5,042,427 | ||||||
Clear Channel Outdoor Holdings, Inc.(a) | 18,038 | 47,981 | ||||||
Comcast Corp., Class A | 236,961 | 13,940,416 | ||||||
ComScore, Inc.(a) | 2,806 | 11,252 | ||||||
Daily Journal Corp.(a)(b) | 60 | 19,980 | ||||||
Discovery, Inc., Class A(a)(b) | 8,034 | 233,066 | ||||||
Discovery, Inc., Class C(a) | 16,815 | 455,855 | ||||||
DISH Network Corp., Class A(a) | 12,608 | 528,149 | ||||||
Emerald Holding, Inc.(a) | 736 | 2,907 | ||||||
Entercom Communications Corp.(a) | 3,599 | 12,848 | ||||||
Entravision Communications Corp., Class A | 1,689 | 10,387 | ||||||
EW Scripps Co., Class A | 2,946 | 56,210 | ||||||
Fluent, Inc.(a) | 1,571 | 3,912 | ||||||
Fox Corp., Class A | 16,394 | 584,610 | ||||||
Fox Corp., Class B | 8,287 | 275,460 | ||||||
Gannett Co., Inc.(a) | 7,997 | 46,143 | ||||||
Gray Television, Inc. | 4,444 | 98,523 | ||||||
iHeartMedia, Inc., Class A(a) | 5,629 | 145,510 | ||||||
Interpublic Group of Cos., Inc. | 19,788 | 699,704 | ||||||
John Wiley & Sons, Inc., Class A | 2,265 | 133,137 | ||||||
Liberty Broadband Corp., Class A(a) | 1,674 | 287,375 | ||||||
Liberty Broadband Corp., Class C(a) | 7,453 | 1,322,833 | ||||||
Liberty Media Corp. - Liberty SiriusXM, Class A(a) | 4,820 | 225,046 | ||||||
Liberty Media Corp. - Liberty SiriusXM, Class C(a) | 8,431 | 389,512 | ||||||
Loral Space & Communications, Inc. | 436 | 15,430 | ||||||
Magnite, Inc.(a) | 5,346 | 161,984 | ||||||
MDC Partners, Inc., Class A(a) | 4,676 | 26,232 | ||||||
Meredith Corp.(a) | 2,139 | 93,346 | ||||||
National CineMedia, Inc. | 2,288 | 7,962 | ||||||
New York Times Co., Class A | 8,541 | 373,925 | ||||||
News Corp., Class A | 17,660 | 434,966 | ||||||
News Corp., Class B | 9,143 | 214,952 | ||||||
Nexstar Media Group, Inc., Class A | 2,127 | 312,818 | ||||||
Omnicom Group, Inc. | 10,841 | 789,442 |
66 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Media (continued) | ||||||||
Scholastic Corp. | 1,551 | $ | 52,129 | |||||
Sinclair Broadcast Group, Inc., Class A | 2,243 | 63,454 | ||||||
Sirius XM Holdings, Inc.(b) | 46,902 | 303,456 | ||||||
TechTarget, Inc.(a) | 1,296 | 94,712 | ||||||
TEGNA, Inc. | 11,334 | 200,838 | ||||||
ViacomCBS, Inc., Class A | 716 | 31,883 | ||||||
ViacomCBS, Inc., Class B | 29,788 | 1,219,223 | ||||||
WideOpenWest, Inc.(a) | 3,478 | 77,351 | ||||||
|
| |||||||
30,256,675 | ||||||||
Metals & Mining — 0.5% | ||||||||
Alcoa Corp.(a) | 9,689 | 389,013 | ||||||
Allegheny Technologies, Inc.(a) | 6,670 | 136,935 | ||||||
Arconic Corp.(a) | 5,596 | 201,120 | ||||||
Carpenter Technology Corp. | 2,307 | 88,012 | ||||||
Century Aluminum Co.(a) | 3,746 | 54,542 | ||||||
Cleveland-Cliffs, Inc.(a) | 24,040 | 601,000 | ||||||
Coeur Mining, Inc.(a) | 12,684 | 95,637 | ||||||
Commercial Metals Co. | 6,250 | 205,000 | ||||||
Compass Minerals International, Inc. | 1,903 | 130,470 | ||||||
Constellium SE(a) | 6,148 | 116,013 | ||||||
Ferroglobe PLC(a)(c) | 844 | — | ||||||
Freeport-McMoRan, Inc. | 75,440 | 2,874,264 | ||||||
Gatos Silver, Inc.(a) | 2,285 | 31,168 | ||||||
Haynes International, Inc. | 363 | 13,696 | ||||||
Hecla Mining Co. | 27,212 | 182,048 | ||||||
Kaiser Aluminum Corp. | 806 | 98,074 | ||||||
Materion Corp. | 920 | 65,651 | ||||||
MP Materials Corp.(a)(b) | 3,655 | 137,501 | ||||||
Newmont Corp. | 41,254 | 2,591,576 | ||||||
Novagold Resources, Inc.(a) | 12,171 | 95,177 | ||||||
Nucor Corp. | 15,057 | 1,566,229 | ||||||
Olympic Steel, Inc. | 97 | 2,922 | ||||||
Reliance Steel & Aluminum Co. | 3,412 | 536,196 | ||||||
Royal Gold, Inc. | 3,442 | 418,272 | ||||||
Ryerson Holding Corp.(a) | 148 | 2,328 | ||||||
Schnitzer Steel Industries, Inc., Class A | 1,316 | 68,985 | ||||||
Southern Copper Corp. | 4,244 | 278,576 | ||||||
Steel Dynamics, Inc. | 10,392 | 669,765 | ||||||
SunCoke Energy, Inc. | 5,143 | 39,755 | ||||||
TimkenSteel Corp.(a) | 2,945 | 39,257 | ||||||
United States Steel Corp. | 13,593 | 359,943 | ||||||
Warrior Met Coal, Inc. | 2,567 | 47,926 | ||||||
Worthington Industries, Inc. | 1,826 | 116,809 | ||||||
|
| |||||||
12,253,860 | ||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.1% | ||||||||
AGNC Investment Corp. | 26,992 | 428,363 | ||||||
Annaly Capital Management, Inc. | 73,417 | 623,310 | ||||||
Apollo Commercial Real Estate Finance, Inc. | 7,237 | 110,147 | ||||||
Arbor Realty Trust, Inc. | 6,750 | 123,390 | ||||||
Ares Commercial Real Estate Corp. | 2,603 | 39,253 | ||||||
ARMOUR Residential REIT, Inc. | 5,531 | 57,522 | ||||||
Blackstone Mortgage Trust, Inc., Class A | 7,712 | 250,023 | ||||||
BrightSpire Capital, Inc. | 5,031 | 47,845 | ||||||
Broadmark Realty Capital, Inc. | 7,832 | 81,218 | ||||||
Capstead Mortgage Corp. | 2,469 | 15,727 | ||||||
Chimera Investment Corp. | 11,622 | 171,076 | ||||||
Dynex Capital, Inc. | 695 | 12,128 | ||||||
Ellington Financial, Inc. | 1,920 | 34,906 | ||||||
Granite Point Mortgage Trust, Inc. | 1,933 | 27,275 | ||||||
Great Ajax Corp. | 2,080 | 26,374 |
Security | Shares | Value | ||||||
Mortgage Real Estate Investment Trusts (REITs) (continued) | ||||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 3,754 | $ | 213,227 | |||||
Invesco Mortgage Capital, Inc. | 12,749 | 43,857 | ||||||
KKR Real Estate Finance Trust, Inc. | 1,316 | 28,044 | ||||||
Ladder Capital Corp. | 6,531 | 74,584 | ||||||
MFA Financial, Inc. | 25,148 | 117,441 | ||||||
New Residential Investment Corp. | 22,096 | 215,657 | ||||||
New York Mortgage Trust, Inc. | 17,656 | 77,157 | ||||||
Orchid Island Capital, Inc. | 5,689 | 28,161 | ||||||
PennyMac Mortgage Investment Trust | 3,973 | 78,348 | ||||||
Ready Capital Corp. | 3,168 | 47,900 | ||||||
Redwood Trust, Inc. | 4,274 | 50,732 | ||||||
Starwood Property Trust, Inc. | 13,892 | 361,609 | ||||||
TPG RE Finance Trust, Inc. | 3,418 | 44,981 | ||||||
Two Harbors Investment Corp. | 16,642 | 106,675 | ||||||
|
| |||||||
3,536,930 | ||||||||
Multi-line Retail — 0.5% | ||||||||
Big Lots, Inc. | 1,787 | 102,949 | ||||||
Dillard’s, Inc., Class A | 348 | 63,778 | ||||||
Dollar General Corp. | 12,339 | 2,870,545 | ||||||
Dollar Tree, Inc.(a) | 12,013 | 1,198,777 | ||||||
Franchise Group, Inc. | 1,453 | 49,344 | ||||||
Kohl’s Corp. | 7,926 | 402,641 | ||||||
Macy’s, Inc.(a) | 10,824 | 184,008 | ||||||
Nordstrom, Inc.(a) | 5,474 | 181,189 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.(a) | 3,304 | 307,603 | ||||||
Target Corp. | 26,056 | 6,801,919 | ||||||
|
| |||||||
12,162,753 | ||||||||
Multi-Utilities — 0.6% | ||||||||
Ameren Corp. | 13,160 | 1,104,387 | ||||||
Avista Corp. | 2,622 | 112,300 | ||||||
Black Hills Corp. | 3,137 | 212,218 | ||||||
CenterPoint Energy, Inc. | 30,272 | 770,725 | ||||||
CMS Energy Corp. | 14,981 | 925,676 | ||||||
Consolidated Edison, Inc. | 17,736 | 1,308,385 | ||||||
Dominion Energy, Inc. | 41,512 | 3,108,003 | ||||||
DTE Energy Co. | 10,006 | 1,173,904 | ||||||
MDU Resources Group, Inc. | 10,065 | 319,262 | ||||||
NiSource, Inc. | 20,528 | 508,479 | ||||||
NorthWestern Corp. | 2,600 | 161,174 | ||||||
Public Service Enterprise Group, Inc. | 26,057 | 1,621,527 | ||||||
Sempra Energy | 16,333 | 2,133,906 | ||||||
Unitil Corp. | 767 | 40,590 | ||||||
WEC Energy Group, Inc. | 16,234 | 1,528,269 | ||||||
|
| |||||||
15,028,805 | ||||||||
Oil, Gas & Consumable Fuels — 2.3% | ||||||||
Aemetis, Inc.(a)(b) | 1,655 | 14,514 | ||||||
Alto Ingredients, Inc.(a) | 3,664 | 19,419 | ||||||
Altus Midstream Co., Class A | 357 | 22,794 | ||||||
Antero Midstream Corp. | 16,933 | 160,863 | ||||||
Antero Resources Corp.(a) | 14,378 | 195,541 | ||||||
APA Corp. | 19,195 | 359,906 | ||||||
Arch Resources, Inc.(a) | 980 | 64,406 | ||||||
Berry Corp. | 2,607 | 14,469 | ||||||
Bonanza Creek Energy, Inc. | 1,565 | 60,206 | ||||||
Brigham Minerals, Inc., Class A | 2,322 | 45,604 | ||||||
Cabot Oil & Gas Corp. | 19,959 | 319,344 | ||||||
California Resources Corp.(a)(b) | 4,225 | 118,765 | ||||||
Callon Petroleum Co.(a) | 2,015 | 79,310 | ||||||
Centennial Resource Development, Inc., Class A(a) | 9,150 | 47,671 | ||||||
Cheniere Energy, Inc.(a) | 12,144 | 1,031,390 |
S C H E D U L E O F I N V E S T M E N T S | 67 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Chesapeake Energy Corp. | 4,941 | $ | 267,061 | |||||
Chevron Corp. | 101,258 | 10,309,077 | ||||||
Cimarex Energy Co. | 5,118 | 333,694 | ||||||
Clean Energy Fuels Corp.(a) | 7,091 | 53,253 | ||||||
CNX Resources Corp.(a)(b) | 12,210 | 147,741 | ||||||
Comstock Resources, Inc.(a) | 4,466 | 27,153 | ||||||
ConocoPhillips | 71,451 | 4,005,543 | ||||||
CONSOL Energy, Inc.(a) | 2,144 | 45,045 | ||||||
Contango Oil & Gas Co.(a) | 9,373 | 35,805 | ||||||
Continental Resources, Inc.(b) | 3,232 | 110,373 | ||||||
CVR Energy, Inc. | 1,053 | 14,384 | ||||||
Delek US Holdings, Inc.(a) | 3,571 | 62,064 | ||||||
Denbury, Inc.(a)(b) | 2,541 | 166,969 | ||||||
Devon Energy Corp. | 34,959 | 903,341 | ||||||
DHT Holdings, Inc. | 8,078 | 46,852 | ||||||
Diamondback Energy, Inc. | 9,155 | 706,125 | ||||||
Dorian LPG Ltd.(a) | 1,250 | 15,125 | ||||||
DTE Midstream LLC(a) | 4,904 | 207,930 | ||||||
Earthstone Energy, Inc., Class A(a) | 1,997 | 19,631 | ||||||
Energy Fuels, Inc.(a)(b) | 8,340 | 43,785 | ||||||
EOG Resources, Inc. | 29,975 | 2,183,978 | ||||||
EQT Corp.(a) | 15,024 | 276,291 | ||||||
Equitrans Midstream Corp. | 21,144 | 173,804 | ||||||
Extraction Oil & Gas, Inc.(a) | 801 | 35,636 | ||||||
Exxon Mobil Corp. | 220,540 | 12,696,488 | ||||||
Falcon Minerals Corp. | 1,711 | 8,161 | ||||||
Frontline Ltd.(a) | 7,646 | 60,862 | ||||||
Gevo, Inc.(a)(b) | 9,834 | 59,889 | ||||||
Golar LNG Ltd.(a) | 5,492 | 61,291 | ||||||
Green Plains, Inc.(a) | 1,196 | 42,291 | ||||||
Hess Corp. | 14,328 | 1,095,232 | ||||||
HollyFrontier Corp. | 7,797 | 229,232 | ||||||
International Seaways, Inc. | 1,728 | 28,426 | ||||||
Kinder Morgan, Inc. | 99,700 | 1,732,786 | ||||||
Kosmos Energy Ltd.(a) | 22,400 | 51,744 | ||||||
Laredo Petroleum, Inc.(a) | 644 | 35,459 | ||||||
Magnolia Oil & Gas Corp., Class A(a) | 7,273 | 101,822 | ||||||
Marathon Oil Corp. | 40,234 | 466,312 | ||||||
Marathon Petroleum Corp. | 33,809 | 1,866,933 | ||||||
Matador Resources Co. | 5,650 | 174,585 | ||||||
Murphy Oil Corp. | 7,792 | 169,164 | ||||||
New Fortress Energy, Inc. | 1,317 | 39,918 | ||||||
Nordic American Tankers Ltd. | 4,938 | 12,888 | ||||||
Northern Oil and Gas, Inc. | 2,450 | 42,311 | ||||||
Oasis Petroleum, Inc. | 1,009 | 92,535 | ||||||
Occidental Petroleum Corp. | 43,757 | 1,142,058 | ||||||
ONEOK, Inc. | 22,945 | 1,192,452 | ||||||
Ovintiv, Inc. | 13,321 | 341,817 | ||||||
Par Pacific Holdings, Inc.(a) | 2,754 | 45,111 | ||||||
PBF Energy, Inc., Class A(a) | 4,171 | 38,248 | ||||||
PDC Energy, Inc. | 4,992 | 197,434 | ||||||
Peabody Energy Corp.(a) | 4,700 | 55,037 | ||||||
Penn Virginia Corp.(a) | 390 | 7,211 | ||||||
Phillips 66 | 22,713 | 1,667,816 | ||||||
Pioneer Natural Resources Co. | 11,096 | 1,613,026 | ||||||
Range Resources Corp.(a) | 12,155 | 185,121 | ||||||
Renewable Energy Group, Inc.(a) | 2,161 | 132,361 | ||||||
REX American Resources Corp.(a) | 221 | 18,122 | ||||||
Riley Exploration Permian, Inc.(b) | 425 | 9,176 | ||||||
Scorpio Tankers, Inc. | 2,267 | 37,065 | ||||||
SFL Corp. Ltd. | 3,785 | 26,003 | ||||||
SM Energy Co. | 6,000 | 112,200 |
Security | Shares | Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Southwestern Energy Co.(a) | 33,910 | $ | 159,716 | |||||
Talos Energy, Inc.(a) | 1,941 | 22,399 | ||||||
Targa Resources Corp. | 11,282 | 475,085 | ||||||
Teekay Corp.(a) | 5,713 | 17,082 | ||||||
Teekay Tankers Ltd., Class A(a) | 1,541 | 19,494 | ||||||
Tellurian, Inc.(a)(b) | 15,969 | 60,203 | ||||||
Texas Pacific Land Corp. | 311 | 464,183 | ||||||
Uranium Energy Corp.(a)(b) | 13,627 | 29,571 | ||||||
Ur-Energy, Inc.(a) | 13,853 | 15,654 | ||||||
Valero Energy Corp. | 20,766 | 1,390,699 | ||||||
Vine Energy, Inc., Class A(a) | 1,507 | 21,113 | ||||||
W&T Offshore, Inc.(a)(b) | 2,856 | 11,567 | ||||||
Whiting Petroleum Corp.(a) | 1,996 | 93,612 | ||||||
Williams Cos., Inc. | 62,970 | 1,577,398 | ||||||
World Fuel Services Corp. | 3,223 | 111,065 | ||||||
|
| |||||||
53,102,290 | ||||||||
Paper & Forest Products — 0.0% | ||||||||
Clearwater Paper Corp.(a) | 635 | 18,726 | ||||||
Domtar Corp.(a) | 2,571 | 141,174 | ||||||
Glatfelter Corp. | 2,862 | 43,588 | ||||||
Louisiana-Pacific Corp. | 5,114 | 283,520 | ||||||
Neenah, Inc. | 977 | 49,114 | ||||||
Schweitzer-Mauduit International, Inc. | 1,765 | 69,417 | ||||||
Verso Corp., Class A | 1,086 | 20,656 | ||||||
|
| |||||||
626,195 | ||||||||
Personal Products — 0.2% | ||||||||
Beauty Health Co.(a) | 2,372 | 41,652 | ||||||
BellRing Brands, Inc., Class A(a) | 2,292 | 75,796 | ||||||
Coty, Inc., Class A(a) | 16,085 | 140,422 | ||||||
Edgewell Personal Care Co. | 2,898 | 119,050 | ||||||
elf Beauty, Inc.(a) | 2,100 | 57,981 | ||||||
Estee Lauder Cos., Inc., Class A | 11,783 | 3,933,519 | ||||||
Herbalife Nutrition Ltd.(a) | 5,466 | 278,438 | ||||||
Honest Co., Inc.(a)(b) | 1,489 | 21,397 | ||||||
Inter Parfums, Inc. | 944 | 72,565 | ||||||
Medifast, Inc. | 596 | 170,164 | ||||||
Nature’s Sunshine Products, Inc. | 255 | 4,486 | ||||||
Nu Skin Enterprises, Inc., Class A | 2,597 | 139,433 | ||||||
Revlon, Inc., Class A(a)(b) | 260 | 2,834 | ||||||
USANA Health Sciences, Inc.(a) | 667 | 63,545 | ||||||
Veru, Inc.(a)(b) | 4,777 | 32,818 | ||||||
|
| |||||||
5,154,100 | ||||||||
Pharmaceuticals — 3.3% | ||||||||
9 Meters Biopharma, Inc.(a) | 16,062 | 17,347 | ||||||
Aclaris Therapeutics, Inc.(a) | 2,185 | 32,622 | ||||||
Aerie Pharmaceuticals, Inc.(a)(b) | 1,684 | 26,574 | ||||||
Amneal Pharmaceuticals, Inc.(a) | 5,098 | 25,133 | ||||||
Amphastar Pharmaceuticals, Inc.(a) | 2,313 | 48,457 | ||||||
Ampio Pharmaceuticals, Inc.(a)(b) | 12,047 | 16,986 | ||||||
ANI Pharmaceuticals, Inc.(a) | 794 | 26,940 | ||||||
Antares Pharma, Inc.(a) | 10,058 | 44,255 | ||||||
Arvinas, Inc.(a) | 2,239 | 226,363 | ||||||
Atea Pharmaceuticals, Inc.(a)(b) | 3,300 | 82,632 | ||||||
Athira Pharma, Inc.(a) | 2,144 | 20,604 | ||||||
Axsome Therapeutics, Inc.(a) | 1,553 | 75,460 | ||||||
BioDelivery Sciences International, Inc.(a) | 3,852 | 14,484 | ||||||
Bristol-Myers Squibb Co. | 115,269 | 7,823,307 | ||||||
Cara Therapeutics, Inc.(a) | 1,585 | 18,972 | ||||||
Cassava Sciences, Inc.(a) | 1,925 | 133,845 | ||||||
Catalent, Inc.(a) | 8,460 | 1,013,593 | ||||||
Citius Pharmaceuticals, Inc.(a) | 5,805 | 10,971 |
68 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
Collegium Pharmaceutical, Inc.(a) | 1,582 | $ | 39,376 | |||||
Corcept Therapeutics, Inc.(a) | 5,104 | 106,010 | ||||||
CorMedix, Inc.(a) | 1,458 | 8,471 | ||||||
Cymabay Therapeutics, Inc.(a) | 3,406 | 13,420 | ||||||
Durect Corp.(a) | 7,508 | 10,586 | ||||||
Edgewise Therapeutics, Inc.(a)(b) | 844 | 14,778 | ||||||
Elanco Animal Health, Inc.(a) | 23,151 | 844,317 | ||||||
Eli Lilly & Co. | 44,148 | 10,750,038 | ||||||
Endo International PLC(a) | 9,338 | 47,250 | ||||||
Esperion Therapeutics, Inc.(a)(b) | 1,000 | 15,390 | ||||||
Evolus, Inc.(a) | 1,907 | 20,634 | ||||||
Fulcrum Therapeutics, Inc.(a) | 659 | 4,817 | ||||||
Harmony Biosciences Holdings, Inc.(a)(b) | 1,152 | 30,136 | ||||||
Innoviva, Inc.(a) | 2,582 | 36,613 | ||||||
Intra-Cellular Therapies, Inc.(a) | 3,645 | 125,133 | ||||||
Jazz Pharmaceuticals PLC(a) | 3,032 | 513,985 | ||||||
Johnson & Johnson | 136,421 | 23,491,696 | ||||||
Kala Pharmaceuticals, Inc.(a)(b) | 1,156 | 3,988 | ||||||
KemPharm, Inc.(a)(b) | 1,573 | 15,872 | ||||||
Marinus Pharmaceuticals, Inc.(a) | 1,328 | 19,522 | ||||||
Merck & Co., Inc. | 132,096 | 10,154,220 | ||||||
Mind Medicine MindMed, Inc.(a) | 16,253 | 49,734 | ||||||
Nektar Therapeutics(a)(b) | 8,652 | 136,615 | ||||||
NGM Biopharmaceuticals, Inc.(a) | 1,461 | 29,790 | ||||||
Nuvation Bio, Inc.(a) | 2,309 | 19,950 | ||||||
Ocular Therapeutix, Inc.(a) | 2,768 | 30,476 | ||||||
Omeros Corp.(a)(b) | 3,663 | 53,114 | ||||||
Organon & Co.(a) | 12,840 | 372,488 | ||||||
Pacira BioSciences, Inc.(a) | 2,251 | 132,696 | ||||||
Paratek Pharmaceuticals, Inc.(a) | 915 | 4,758 | ||||||
Perrigo Co. PLC | 6,851 | 329,054 | ||||||
Pfizer, Inc. | 290,481 | 12,435,492 | ||||||
Phathom Pharmaceuticals, Inc.(a) | 1,212 | 38,905 | ||||||
Phibro Animal Health Corp., Class A | 619 | 14,652 | ||||||
Pliant Therapeutics, Inc.(a) | 1,639 | 33,108 | ||||||
Prestige Consumer Healthcare, Inc.(a) | 2,675 | 140,571 | ||||||
Provention Bio, Inc.(a)(b) | 1,609 | 9,767 | ||||||
Reata Pharmaceuticals, Inc., Class A(a)(b) | 1,389 | 174,056 | ||||||
Relmada Therapeutics, Inc.(a) | 534 | 13,884 | ||||||
Revance Therapeutics, Inc.(a) | 3,641 | 105,880 | ||||||
Royalty Pharma PLC, Class A | 17,090 | 652,838 | ||||||
SIGA Technologies, Inc.(a) | 3,614 | 23,021 | ||||||
Supernus Pharmaceuticals, Inc.(a) | 2,277 | 59,953 | ||||||
Tarsus Pharmaceuticals, Inc.(a) | 888 | 20,042 | ||||||
TherapeuticsMD, Inc.(a)(b) | 7,503 | 7,503 | ||||||
Theravance Biopharma, Inc.(a) | 3,062 | 39,745 | ||||||
Verrica Pharmaceuticals, Inc.(a)(b) | 732 | 7,832 | ||||||
Viatris, Inc. | 62,530 | 879,797 | ||||||
WaVe Life Sciences Ltd.(a) | 1,000 | 5,510 | ||||||
Zoetis, Inc. | 24,469 | 4,959,866 | ||||||
Zogenix, Inc.(a)(b) | 2,357 | 38,207 | ||||||
|
| |||||||
76,744,101 | ||||||||
Professional Services — 0.7% | ||||||||
Acacia Research Corp.(a) | 3,628 | 20,462 | ||||||
ASGN, Inc.(a) | 2,668 | 269,815 | ||||||
Barrett Business Services, Inc. | 250 | 18,302 | ||||||
Booz Allen Hamilton Holding Corp. | 8,121 | 696,863 | ||||||
CACI International, Inc., Class A(a) | 1,185 | 316,348 | ||||||
CBIZ, Inc.(a) | 3,197 | 103,391 | ||||||
Clarivate PLC(a) | 25,408 | 579,302 | ||||||
CoStar Group, Inc.(a) | 20,229 | 1,797,347 |
Security | Shares | Value | ||||||
Professional Services (continued) | ||||||||
CRA International, Inc. | 456 | $ | 39,093 | |||||
Dun & Bradstreet Holdings, Inc.(a)(b) | 8,101 | 169,797 | ||||||
Equifax, Inc. | 6,237 | 1,625,362 | ||||||
Exponent, Inc. | 2,671 | 286,037 | ||||||
Forrester Research, Inc.(a) | 474 | 22,207 | ||||||
Franklin Covey Co.(a) | 875 | 32,016 | ||||||
FTI Consulting, Inc.(a) | 1,704 | 248,273 | ||||||
GP Strategies Corp.(a) | 414 | 8,425 | ||||||
Heidrick & Struggles International, Inc. | 1,059 | 45,230 | ||||||
Huron Consulting Group, Inc.(a) | 877 | 43,087 | ||||||
ICF International, Inc. | 940 | 86,076 | ||||||
IHS Markit Ltd. | 19,219 | 2,245,548 | ||||||
Insperity, Inc. | 1,876 | 185,818 | ||||||
Jacobs Engineering Group, Inc. | 6,681 | 903,605 | ||||||
KBR, Inc. | 7,225 | 279,607 | ||||||
Kelly Services, Inc., Class A(a) | 1,865 | 40,881 | ||||||
Kforce, Inc. | 1,056 | 65,926 | ||||||
Korn Ferry | 2,683 | 184,429 | ||||||
Leidos Holdings, Inc. | 7,368 | 784,103 | ||||||
ManpowerGroup, Inc. | 2,781 | 329,771 | ||||||
ManTech International Corp., Class A | 1,416 | 123,843 | ||||||
Mistras Group, Inc.(a) | 335 | 3,517 | ||||||
Nielsen Holdings PLC | 18,788 | 445,088 | ||||||
Rekor Systems, Inc.(a) | 2,062 | 16,249 | ||||||
Resources Connection, Inc. | 605 | 9,371 | ||||||
Robert Half International, Inc. | 5,630 | 552,922 | ||||||
Science Applications International Corp. | 3,057 | 266,876 | ||||||
TransUnion | 9,878 | 1,185,953 | ||||||
TriNet Group, Inc.(a) | 2,110 | 175,088 | ||||||
TrueBlue, Inc.(a) | 1,432 | 38,936 | ||||||
Upwork, Inc.(a) | 6,329 | 327,779 | ||||||
Verisk Analytics, Inc. | 8,171 | 1,552,000 | ||||||
Willdan Group, Inc.(a)(b) | 300 | 12,375 | ||||||
|
| |||||||
16,137,118 | ||||||||
Real Estate Management & Development — 0.2% | ||||||||
CBRE Group, Inc., Class A(a) | 16,933 | 1,633,357 | ||||||
Cushman & Wakefield PLC(a) | 5,937 | 110,844 | ||||||
eXp World Holdings, Inc.(a)(b) | 3,098 | 111,280 | ||||||
Forestar Group, Inc.(a) | 1,192 | 24,400 | ||||||
FRP Holdings, Inc.(a) | 186 | 11,184 | ||||||
Howard Hughes Corp.(a) | 2,164 | 200,624 | ||||||
Jones Lang LaSalle, Inc.(a) | 2,681 | 596,710 | ||||||
Kennedy-Wilson Holdings, Inc. | 6,954 | 140,401 | ||||||
Marcus & Millichap, Inc.(a) | 917 | 36,487 | ||||||
Newmark Group, Inc., Class A | 8,235 | 106,067 | ||||||
Opendoor Technologies Inc.(a)(b) | 17,511 | 259,513 | ||||||
Rafael Holdings, Inc., Class B(a) | 432 | 21,863 | ||||||
RE/MAX Holdings, Inc., Class A | 632 | 21,678 | ||||||
Realogy Holdings Corp.(a) | 6,333 | 112,221 | ||||||
Redfin Corp.(a) | 5,266 | 308,430 | ||||||
RMR Group, Inc., Class A | 541 | 21,229 | ||||||
St. Joe Co. | 1,480 | 67,000 | ||||||
Tejon Ranch Co.(a) | 507 | 9,243 | ||||||
|
| |||||||
3,792,531 | ||||||||
Road & Rail — 1.1% | ||||||||
AMERCO | 448 | 263,406 | ||||||
ArcBest Corp. | 1,290 | 76,252 | ||||||
Avis Budget Group, Inc.(a) | 2,581 | 213,629 | ||||||
Covenant Logistics Group, Inc., Class A(a) | 245 | 5,147 | ||||||
CSX Corp. | 119,097 | 3,849,215 | ||||||
Daseke, Inc.(a)(b) | 1,090 | 7,532 |
S C H E D U L E O F I N V E S T M E N T S | 69 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Road & Rail (continued) | ||||||||
Heartland Express, Inc. | 3,436 | $ | 58,515 | |||||
HyreCar, Inc.(a) | 1,009 | 17,637 | ||||||
JB Hunt Transport Services, Inc. | 4,348 | 732,421 | ||||||
Kansas City Southern | 4,700 | 1,258,660 | ||||||
Knight-Swift Transportation Holdings, Inc. | 8,061 | 400,551 | ||||||
Landstar System, Inc. | 1,926 | 302,382 | ||||||
Lyft, Inc., Class A(a) | 14,657 | 810,825 | ||||||
Marten Transport Ltd. | 2,723 | 43,078 | ||||||
Norfolk Southern Corp. | 12,926 | 3,332,711 | ||||||
Old Dominion Freight Line, Inc. | 5,288 | 1,423,265 | ||||||
Ryder System, Inc. | 2,730 | 207,890 | ||||||
Saia, Inc.(a) | 1,322 | 298,772 | ||||||
Schneider National, Inc., Class B | 3,106 | 69,699 | ||||||
TuSimple Holdings, Inc., Class A(a)(b) | 1,785 | 65,688 | ||||||
Uber Technologies, Inc.(a) | 83,322 | 3,621,174 | ||||||
Union Pacific Corp. | 34,800 | 7,612,848 | ||||||
Universal Logistics Holdings, Inc. | 345 | 7,952 | ||||||
US Xpress Enterprises, Inc., Class A(a)(b) | 1,385 | 12,091 | ||||||
Werner Enterprises, Inc. | 3,145 | 143,758 | ||||||
Yellow Corp.(a) | 3,485 | 18,122 | ||||||
|
| |||||||
24,853,220 | ||||||||
Semiconductors & Semiconductor Equipment — 5.0% | ||||||||
Advanced Micro Devices, Inc.(a) | 62,335 | 6,619,354 | ||||||
Allegro MicroSystems, Inc.(a) | 2,315 | 63,454 | ||||||
Alpha & Omega Semiconductor Ltd.(a) | 1,152 | 29,940 | ||||||
Ambarella, Inc.(a) | 1,737 | 171,077 | ||||||
Amkor Technology, Inc. | 5,568 | 137,196 | ||||||
Analog Devices, Inc. | 18,985 | 3,178,469 | ||||||
Applied Materials, Inc. | 47,171 | 6,600,638 | ||||||
Atomera, Inc.(a) | 815 | 14,385 | ||||||
Axcelis Technologies, Inc.(a) | 2,013 | 77,601 | ||||||
AXT, Inc.(a) | 1,214 | 12,383 | ||||||
Broadcom, Inc. | 20,878 | 10,134,181 | ||||||
Brooks Automation, Inc. | 3,752 | 333,966 | ||||||
CEVA, Inc.(a) | 893 | 44,329 | ||||||
Cirrus Logic, Inc.(a) | 2,960 | 244,466 | ||||||
CMC Materials, Inc. | 1,471 | 212,765 | ||||||
Cohu, Inc.(a) | 2,510 | 88,879 | ||||||
Cree, Inc.(a) | 5,867 | 544,223 | ||||||
Diodes, Inc.(a) | 2,216 | 181,712 | ||||||
DSP Group, Inc.(a) | 1,034 | 16,596 | ||||||
Enphase Energy, Inc.(a) | 6,818 | 1,292,693 | ||||||
Entegris, Inc. | 6,994 | 843,756 | ||||||
First Solar, Inc.(a)(b) | 6,771 | 582,577 | ||||||
FormFactor, Inc.(a) | 4,220 | 157,237 | ||||||
Ichor Holdings Ltd.(a) | 1,435 | 74,003 | ||||||
Impinj, Inc.(a) | 724 | 33,304 | ||||||
Intel Corp. | 210,454 | 11,305,589 | ||||||
KLA Corp. | 7,910 | 2,753,946 | ||||||
Kopin Corp.(a) | 3,915 | 26,387 | ||||||
Kulicke & Soffa Industries, Inc. | 3,036 | 165,037 | ||||||
Lam Research Corp. | 7,342 | 4,679,864 | ||||||
Lattice Semiconductor Corp.(a) | 6,814 | 386,694 | ||||||
MACOM Technology Solutions Holdings, Inc., Class H(a) | 2,653 | 163,743 | ||||||
Marvell Technology, Inc. | 41,571 | 2,515,461 | ||||||
Maxim Integrated Products, Inc.(a) | 13,849 | 1,383,654 | ||||||
MaxLinear, Inc.(a) | 3,684 | 177,679 | ||||||
Meta Materials, Inc.(a) | 3,070 | 10,745 | ||||||
Microchip Technology, Inc. | 12,939 | 1,851,830 | ||||||
Micron Technology, Inc.(a) | 57,765 | 4,481,409 | ||||||
MKS Instruments, Inc. | 2,822 | 441,474 |
Security | Shares | Value | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
Monolithic Power Systems, Inc. | 2,319 | $ | 1,041,834 | |||||
NeoPhotonics Corp.(a)(b) | 1,665 | 16,150 | ||||||
NVE Corp. | 172 | 12,912 | ||||||
NVIDIA Corp. | 124,290 | 24,235,307 | ||||||
NXP Semiconductors NV | 14,201 | 2,930,944 | ||||||
ON Semiconductor Corp.(a) | 22,085 | 862,640 | ||||||
Onto Innovation, Inc.(a) | 2,592 | 181,647 | ||||||
PDF Solutions, Inc.(a) | 1,754 | 32,817 | ||||||
Photronics, Inc.(a) | 2,227 | 29,775 | ||||||
Power Integrations, Inc. | 3,137 | 304,258 | ||||||
Qorvo, Inc.(a) | 5,823 | 1,103,983 | ||||||
Qualcomm, Inc. | 58,078 | 8,700,084 | ||||||
Rambus, Inc.(a) | 5,861 | 138,671 | ||||||
Semtech Corp.(a) | 3,402 | 210,618 | ||||||
Silicon Laboratories, Inc.(a) | 3,015 | 449,205 | ||||||
SiTime Corp.(a) | 650 | 88,166 | ||||||
Skyworks Solutions, Inc. | 8,493 | 1,567,043 | ||||||
SMART Global Holdings, Inc.(a) | 853 | 39,955 | ||||||
SunPower Corp.(a) | 4,104 | 101,656 | ||||||
Synaptics, Inc.(a) | 1,779 | 270,266 | ||||||
Teradyne, Inc. | 8,633 | 1,096,391 | ||||||
Texas Instruments, Inc. | 47,497 | 9,053,878 | ||||||
Ultra Clean Holdings, Inc.(a) | 2,189 | 118,228 | ||||||
Universal Display Corp. | 2,725 | 638,985 | ||||||
Veeco Instruments, Inc.(a) | 2,766 | 64,171 | ||||||
Xilinx, Inc.(a) | 12,669 | 1,898,323 | ||||||
|
| |||||||
117,220,603 | ||||||||
Software — 9.7% | ||||||||
8x8, Inc.(a) | 5,438 | 138,995 | ||||||
A10 Networks, Inc.(a) | 3,291 | 42,026 | ||||||
ACI Worldwide, Inc.(a) | 6,070 | 208,201 | ||||||
Adobe, Inc.(a) | 24,751 | 15,385,964 | ||||||
Agilysys, Inc.(a) | 963 | 53,504 | ||||||
Alarm.com Holdings, Inc.(a) | 2,494 | 207,551 | ||||||
Alkami Technology, Inc.(a) | 616 | 19,275 | ||||||
Altair Engineering, Inc., Class A(a) | 2,206 | 153,891 | ||||||
Alteryx, Inc., Class A(a)(b) | 2,982 | 230,807 | ||||||
American Software, Inc., Class A | 1,641 | 36,102 | ||||||
Anaplan, Inc.(a) | 7,165 | 409,838 | ||||||
ANSYS, Inc.(a) | 4,425 | 1,630,435 | ||||||
Appfolio, Inc., Class A(a)(b) | 933 | 132,113 | ||||||
Appian Corp.(a)(b) | 1,992 | 231,929 | ||||||
Asana, Inc., Class A(a) | 3,691 | 262,282 | ||||||
Aspen Technology, Inc.(a) | 3,510 | 513,373 | ||||||
Atlassian Corp. PLC, Class A(a)(b) | 7,127 | 2,317,130 | ||||||
Autodesk, Inc.(a) | 11,345 | 3,643,220 | ||||||
Avalara, Inc.(a) | 4,300 | 718,831 | ||||||
Avaya Holdings Corp.(a) | 4,062 | 98,382 | ||||||
Benefitfocus, Inc.(a) | 1,165 | 15,331 | ||||||
Bentley Systems, Inc., Class B | 6,780 | 412,292 | ||||||
Bill.Com Holdings, Inc.(a) | 3,850 | 796,257 | ||||||
Black Knight, Inc.(a) | 7,685 | 636,395 | ||||||
Blackbaud, Inc.(a) | 2,423 | 172,833 | ||||||
Blackline, Inc.(a) | 2,659 | 304,163 | ||||||
Bottomline Technologies DE, Inc.(a) | 1,955 | 78,904 | ||||||
Box, Inc., Class A(a) | 7,510 | 179,639 | ||||||
BTRS Holdings, Inc.(a) | 2,403 | 28,139 | ||||||
C3.AI, Inc., Class A(a) | 1,221 | 61,477 | ||||||
Cadence Design Systems, Inc.(a) | 14,153 | 2,089,690 | ||||||
CDK Global, Inc. | 6,071 | 291,347 | ||||||
Cerence, Inc.(a)(b) | 1,926 | 207,064 | ||||||
Ceridian HCM Holding, Inc.(a) | 6,537 | 643,241 |
70 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
ChannelAdvisor Corp.(a) | 1,810 | $ | 42,155 | |||||
Citrix Systems, Inc. | 6,516 | 656,487 | ||||||
Cleanspark, Inc.(a)(b) | 1,688 | 22,788 | ||||||
Cloudera, Inc.(a) | 11,666 | 185,139 | ||||||
Cloudflare, Inc., Class A(a) | 12,939 | 1,534,954 | ||||||
CommVault Systems, Inc.(a) | 2,246 | 169,775 | ||||||
Cornerstone OnDemand, Inc.(a) | 3,093 | 148,278 | ||||||
Coupa Software, Inc.(a) | 3,803 | 825,251 | ||||||
Crowdstrike Holdings, Inc., Class A(a) | 8,264 | 2,095,833 | ||||||
Datadog, Inc., Class A(a) | 11,681 | 1,293,087 | ||||||
Datto Holding Corp.(a) | 1,098 | 28,647 | ||||||
Digimarc Corp.(a)(b) | 495 | 14,206 | ||||||
Digital Turbine, Inc.(a) | 4,575 | 287,996 | ||||||
DocuSign, Inc.(a) | 9,819 | 2,926,455 | ||||||
Dolby Laboratories, Inc., Class A | 3,218 | 312,468 | ||||||
Domo, Inc., Class B(a) | 1,416 | 125,075 | ||||||
DoubleVerify Holdings, Inc.(a) | 760 | 26,296 | ||||||
Dropbox, Inc., Class A(a) | 15,369 | 483,970 | ||||||
Duck Creek Technologies, Inc.(a) | 3,777 | 165,924 | ||||||
Dynatrace, Inc.(a) | 9,384 | 599,356 | ||||||
E2open Parent Holdings, Inc.(a) | 2,093 | 21,035 | ||||||
Ebix, Inc. | 1,492 | 45,088 | ||||||
eGain Corp.(a) | 724 | 8,449 | ||||||
Elastic NV(a) | 3,456 | 511,695 | ||||||
Envestnet, Inc.(a) | 3,272 | 246,153 | ||||||
Everbridge, Inc.(a)(b) | 1,898 | 268,036 | ||||||
Fair Isaac Corp.(a) | 1,448 | 758,622 | ||||||
FireEye, Inc.(a) | 11,499 | 232,280 | ||||||
Five9, Inc.(a) | 3,497 | 703,911 | ||||||
Fortinet, Inc.(a) | 7,312 | 1,990,619 | ||||||
GTY Technology Holdings, Inc.(a)(b) | 2,386 | 16,511 | ||||||
Guidewire Software, Inc.(a) | 4,283 | 493,402 | ||||||
HubSpot, Inc.(a) | 2,298 | 1,369,654 | ||||||
Intelligent Systems Corp.(a) | 318 | 10,745 | ||||||
InterDigital, Inc. | 1,610 | 106,083 | ||||||
Intuit, Inc. | 13,362 | 7,081,459 | ||||||
j2 Global, Inc.(a) | 2,238 | 316,162 | ||||||
Jamf Holding Corp.(a)(b) | 2,776 | 91,081 | ||||||
JFrog Ltd.(a)(b) | 2,583 | 113,187 | ||||||
LivePerson, Inc.(a) | 3,328 | 211,960 | ||||||
Manhattan Associates, Inc.(a) | 3,201 | 510,976 | ||||||
Marathon Digital Holdings, Inc.(a)(b) | 4,804 | 132,734 | ||||||
McAfee Corp., Class A | 2,331 | 63,100 | ||||||
Medallia, Inc.(a) | 5,251 | 177,851 | ||||||
Microsoft Corp. | 390,593 | 111,283,852 | ||||||
MicroStrategy, Inc., Class A(a) | 397 | 248,526 | ||||||
Mimecast Ltd.(a) | 3,083 | 171,261 | ||||||
Mitek Systems, Inc.(a) | 2,481 | 54,855 | ||||||
Model N, Inc.(a)(b) | 2,003 | 64,837 | ||||||
Momentive Global, Inc.(a) | 6,429 | 135,009 | ||||||
N-Able, Inc.(a) | 1,754 | 24,205 | ||||||
nCino Inc.(a)(b) | 2,451 | 155,810 | ||||||
New Relic, Inc.(a) | 2,815 | 194,460 | ||||||
NortonLifeLock, Inc. | 28,711 | 712,607 | ||||||
Nuance Communications, Inc.(a) | 14,867 | 816,198 | ||||||
Nutanix, Inc., Class A(a) | 9,828 | 354,005 | ||||||
ON24, Inc.(a)(b) | 798 | 29,143 | ||||||
OneSpan, Inc.(a) | 1,431 | 35,303 | ||||||
Oracle Corp. | 90,927 | 7,923,379 | ||||||
PagerDuty, Inc.(a)(b) | 4,185 | 169,869 | ||||||
Palantir Technologies, Inc., Class A(a) | 89,052 | 1,933,319 | ||||||
Palo Alto Networks, Inc.(a) | 4,911 | 1,959,734 |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Paycom Software, Inc.(a) | 2,629 | $ | 1,051,600 | |||||
Paylocity Holding Corp.(a) | 1,936 | 401,643 | ||||||
Pegasystems, Inc. | 2,046 | 261,151 | ||||||
Ping Identity Holding Corp.(a) | 2,527 | 55,771 | ||||||
Progress Software Corp. | 2,301 | 104,903 | ||||||
Proofpoint, Inc.(a) | 3,004 | 524,679 | ||||||
PROS Holdings, Inc.(a) | 2,060 | 89,445 | ||||||
PTC, Inc.(a) | 5,344 | 723,845 | ||||||
Q2 Holdings, Inc.(a) | 2,732 | 282,243 | ||||||
QAD, Inc., Class A | 600 | 52,050 | ||||||
Qualys, Inc.(a) | 1,745 | 177,222 | ||||||
Rapid7, Inc.(a) | 2,741 | 311,789 | ||||||
Rimini Street, Inc.(a) | 3,501 | 30,424 | ||||||
RingCentral, Inc., Class A(a) | 4,152 | 1,109,705 | ||||||
Riot Blockchain, Inc.(a)(b) | 4,243 | 139,807 | ||||||
SailPoint Technologies Holding, Inc.(a) | 4,560 | 227,954 | ||||||
salesforce.com, Inc.(a) | 48,127 | 11,643,365 | ||||||
Sapiens International Corp. NV | 1,182 | 29,798 | ||||||
SecureWorks Corp., Class A(a) | 607 | 12,176 | ||||||
ServiceNow, Inc.(a) | 10,145 | 5,964,144 | ||||||
ShotSpotter, Inc.(a) | 707 | 32,310 | ||||||
Smartsheet, Inc., Class A(a) | 6,061 | 439,725 | ||||||
Splunk, Inc.(a) | 8,476 | 1,203,422 | ||||||
Sprout Social, Inc., Class A(a) | 2,205 | 195,892 | ||||||
SPS Commerce, Inc.(a) | 1,818 | 198,071 | ||||||
SS&C Technologies Holdings, Inc. | 11,615 | 910,500 | ||||||
Sumo Logic, Inc.(a) | 4,469 | 92,285 | ||||||
Synopsys, Inc.(a) | 7,815 | 2,250,642 | ||||||
Telos Corp.(a) | 781 | 21,884 | ||||||
Tenable Holdings, Inc.(a) | 4,633 | 198,292 | ||||||
Teradata Corp.(a) | 5,538 | 275,017 | ||||||
Trade Desk, Inc., Class A(a) | 22,198 | 1,818,238 | ||||||
Tyler Technologies, Inc.(a) | 2,092 | 1,030,603 | ||||||
Unity Software, Inc.(a)(b) | 7,671 | 821,717 | ||||||
Upland Software, Inc.(a) | 1,510 | 54,360 | ||||||
Varonis Systems, Inc.(a) | 5,294 | 323,993 | ||||||
Verint Systems, Inc.(a) | 3,361 | 143,414 | ||||||
Veritone, Inc.(a) | 1,045 | 21,611 | ||||||
Viant Technology, Inc., Class A(a) | 883 | 15,267 | ||||||
VirnetX Holding Corp.(a) | 2,642 | 10,832 | ||||||
VMware, Inc., Class A(a)(b) | 4,183 | 643,094 | ||||||
Vonage Holdings Corp.(a) | 11,572 | 165,017 | ||||||
Workday, Inc., Class A(a) | 9,535 | 2,235,004 | ||||||
Workiva, Inc.(a)(b) | 2,091 | 271,349 | ||||||
Xperi Holding Corp. | 5,535 | 114,962 | ||||||
Yext, Inc.(a) | 5,854 | 76,278 | ||||||
Zendesk, Inc.(a) | 6,115 | 798,191 | ||||||
Zix Corp.(a) | 2,268 | 16,806 | ||||||
Zoom Video Communications, Inc., Class A(a) | 10,997 | 4,157,966 | ||||||
Zscaler, Inc.(a) | 4,013 | 946,707 | ||||||
Zuora, Inc., Class A(a) | 5,649 | 97,671 | ||||||
|
| |||||||
228,816,760 | ||||||||
Specialty Retail — 2.3% | ||||||||
Aaron’s Co., Inc. | 1,983 | 57,249 | ||||||
Abercrombie & Fitch Co., Class A(a) | 3,245 | 122,693 | ||||||
Academy Sports & Outdoors, Inc.(a) | 3,216 | 119,153 | ||||||
Advance Auto Parts, Inc. | 3,336 | 707,432 | ||||||
American Eagle Outfitters, Inc. | 7,773 | 267,935 | ||||||
America’s Car-Mart, Inc.(a) | 281 | 44,679 | ||||||
Asbury Automotive Group, Inc.(a) | 961 | 197,447 | ||||||
AutoNation, Inc.(a) | 2,617 | 317,521 | ||||||
AutoZone, Inc.(a) | 1,134 | 1,841,128 |
S C H E D U L E O F I N V E S T M E N T S | 71 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Specialty Retail (continued) | ||||||||
Barnes & Noble Education, Inc.(a) | 2,311 | $ | 19,297 | |||||
Bath & Body Works, Inc.(a) | 12,266 | 982,139 | ||||||
Bed Bath & Beyond, Inc.(a) | 5,363 | 153,060 | ||||||
Best Buy Co., Inc. | 12,948 | 1,454,708 | ||||||
Big 5 Sporting Goods Corp. | 1,094 | 23,980 | ||||||
Blink Charging Co.(a)(b) | 1,842 | 63,604 | ||||||
Boot Barn Holdings, Inc.(a) | 1,527 | 131,963 | ||||||
Buckle, Inc.(b) | 1,687 | 70,989 | ||||||
Burlington Stores, Inc.(a) | 3,433 | 1,149,368 | ||||||
Caleres, Inc. | 2,081 | 51,484 | ||||||
Camping World Holdings, Inc., Class A | 2,185 | 86,002 | ||||||
CarLotz, Inc.(a)(b) | 3,902 | 17,325 | ||||||
CarMax, Inc.(a) | 8,450 | 1,131,877 | ||||||
Carvana Co.(a) | 3,976 | 1,342,139 | ||||||
Cato Corp., Class A | 507 | 8,366 | ||||||
Chico’s FAS, Inc.(a) | 7,580 | 46,844 | ||||||
Children’s Place, Inc.(a) | 869 | 73,283 | ||||||
Citi Trends, Inc.(a) | 548 | 43,703 | ||||||
Conn’s, Inc.(a) | 641 | 14,256 | ||||||
Container Store Group, Inc.(a)(b) | 1,057 | 11,120 | ||||||
Designer Brands, Inc., Class A(a) | 3,326 | 48,460 | ||||||
Dick’s Sporting Goods, Inc. | 3,215 | 334,810 | ||||||
Five Below, Inc.(a) | 2,845 | 553,125 | ||||||
Floor & Decor Holdings, Inc., Class A(a) | 5,149 | 628,229 | ||||||
Foot Locker, Inc. | 4,608 | 262,932 | ||||||
GameStop Corp., Class A(a)(b) | 2,997 | 482,877 | ||||||
Gap, Inc. | 10,235 | 298,555 | ||||||
Genesco, Inc.(a) | 625 | 35,906 | ||||||
Group 1 Automotive, Inc. | 957 | 166,269 | ||||||
GrowGeneration Corp.(a) | 2,856 | 116,154 | ||||||
Guess?, Inc. | 1,837 | 41,002 | ||||||
Haverty Furniture Cos., Inc. | 1,048 | 37,718 | ||||||
Hibbett, Inc. | 760 | 67,382 | ||||||
Home Depot, Inc. | 55,765 | 18,301,515 | ||||||
Kirkland’s, Inc.(a)(b) | 980 | 19,071 | ||||||
Leslie’s, Inc.(a)(b) | 5,527 | 134,582 | ||||||
Lithia Motors, Inc. | 1,475 | 556,400 | ||||||
Lowe’s Cos., Inc. | 37,018 | 7,132,998 | ||||||
Lumber Liquidators Holdings, Inc.(a) | 1,004 | 19,156 | ||||||
MarineMax, Inc.(a) | 887 | 47,712 | ||||||
Monro, Inc. | 1,675 | 97,150 | ||||||
Murphy USA, Inc. | 1,316 | 194,123 | ||||||
National Vision Holdings, Inc.(a) | 4,171 | 225,151 | ||||||
ODP Corp.(a) | 2,695 | 127,554 | ||||||
OneWater Marine, Inc., Class A | 684 | 32,134 | ||||||
O’Reilly Automotive, Inc.(a) | 3,552 | 2,144,840 | ||||||
Party City Holdco, Inc.(a) | 5,630 | 48,080 | ||||||
Penske Automotive Group, Inc. | 1,645 | 145,747 | ||||||
Petco Health & Wellness Co., Inc.(a)(b) | 3,824 | 78,889 | ||||||
Rent-A-Center, Inc. | 3,350 | 191,687 | ||||||
RH(a) | 904 | 600,328 | ||||||
Ross Stores, Inc. | 18,113 | 2,222,284 | ||||||
Sally Beauty Holdings, Inc.(a) | 5,601 | 105,971 | ||||||
Shift Technologies, Inc.(a)(b) | 3,114 | 26,313 | ||||||
Shoe Carnival, Inc. | 744 | 25,073 | ||||||
Signet Jewelers Ltd. | 2,660 | 171,144 | ||||||
Sleep Number Corp.(a) | 1,237 | 122,723 | ||||||
Sonic Automotive, Inc., Class A | 1,309 | 71,406 | ||||||
Sportsman’s Warehouse Holdings, Inc.(a) | 1,930 | 34,103 | ||||||
Tilly’s, Inc., Class A | 598 | 8,868 | ||||||
TJX Cos., Inc. | 63,954 | 4,400,675 | ||||||
Tractor Supply Co. | 5,964 | 1,079,067 |
Security | Shares | Value | ||||||
Specialty Retail (continued) | ||||||||
TravelCenters of America, Inc.(a) | 768 | $ | 22,211 | |||||
Ulta Beauty, Inc.(a) | 2,797 | 939,233 | ||||||
Urban Outfitters, Inc.(a) | 3,600 | 133,848 | ||||||
Vroom, Inc.(a)(b) | 5,849 | 216,647 | ||||||
Williams-Sonoma, Inc. | 3,952 | 599,518 | ||||||
Winmark Corp. | 85 | 17,920 | ||||||
Zumiez, Inc.(a) | 980 | 42,777 | ||||||
|
| |||||||
53,961,061 | ||||||||
Technology Hardware, Storage & Peripherals — 5.3% | ||||||||
3D Systems Corp.(a) | 6,195 | 170,610 | ||||||
Apple, Inc. | 814,176 | 118,755,711 | ||||||
Avid Technology, Inc.(a) | 1,825 | 68,237 | ||||||
Corsair Gaming, Inc.(a)(b) | 1,838 | 53,651 | ||||||
Dell Technologies, Inc., Class C(a) | 14,206 | 1,372,584 | ||||||
Diebold Nixdorf, Inc.(a) | 2,781 | 28,950 | ||||||
Eastman Kodak Co.(a)(b) | 1,722 | 12,708 | ||||||
Hewlett Packard Enterprise Co. | 67,893 | 984,448 | ||||||
HP, Inc. | 64,372 | 1,858,420 | ||||||
NCR Corp.(a) | 6,570 | 291,708 | ||||||
NetApp, Inc. | 11,567 | 920,618 | ||||||
Pure Storage, Inc., Class A(a) | 13,698 | 267,385 | ||||||
Quantum Corp.(a) | 2,963 | 18,371 | ||||||
Super Micro Computer, Inc.(a) | 1,968 | 74,863 | ||||||
Turtle Beach Corp.(a)(b) | 776 | 23,978 | ||||||
Western Digital Corp.(a) | 15,948 | 1,035,504 | ||||||
Xerox Holdings Corp. | 8,090 | 195,212 | ||||||
|
| |||||||
126,132,958 | ||||||||
Textiles, Apparel & Luxury Goods — 0.8% | ||||||||
Capri Holdings Ltd.(a) | 7,509 | 422,832 | ||||||
Carter’s, Inc. | 2,211 | 216,103 | ||||||
Columbia Sportswear Co. | 2,136 | 212,788 | ||||||
Crocs, Inc.(a) | 3,287 | 446,407 | ||||||
Deckers Outdoor Corp.(a) | 1,468 | 603,128 | ||||||
Fossil Group, Inc.(a) | 3,093 | 39,034 | ||||||
G-III Apparel Group Ltd.(a)(b) | 2,509 | 74,919 | ||||||
Hanesbrands, Inc. | 17,203 | 314,127 | ||||||
Kontoor Brands, Inc. | 2,676 | 148,197 | ||||||
Lululemon Athletica, Inc.(a) | 5,873 | 2,350,198 | ||||||
Movado Group, Inc. | 450 | 13,531 | ||||||
NIKE, Inc., Class B | 64,486 | 10,802,050 | ||||||
Oxford Industries, Inc. | 853 | 74,151 | ||||||
PLBY Group, Inc.(a)(b) | 595 | 16,767 | ||||||
PVH Corp.(a) | 3,621 | 378,829 | ||||||
Ralph Lauren Corp. | 2,397 | 272,107 | ||||||
Rocky Brands, Inc. | 309 | 16,810 | ||||||
Skechers USA, Inc., Class A(a) | 6,834 | 366,849 | ||||||
Steven Madden Ltd. | 4,189 | 183,604 | ||||||
Superior Group of Cos., Inc. | 916 | 21,444 | ||||||
Tapestry, Inc.(a) | 14,397 | 608,993 | ||||||
Under Armour, Inc., Class A(a) | 10,194 | 208,467 | ||||||
Under Armour, Inc., Class C(a) | 9,628 | 168,683 | ||||||
Unifi, Inc.(a) | 322 | 7,596 | ||||||
Vera Bradley, Inc.(a) | 696 | 7,663 | ||||||
VF Corp. | 16,774 | 1,345,275 | ||||||
Wolverine World Wide, Inc. | 4,311 | 144,591 | ||||||
|
| |||||||
19,465,143 | ||||||||
Thrifts & Mortgage Finance — 0.1% | ||||||||
Axos Financial, Inc.(a) | 2,871 | 137,377 | ||||||
Bridgewater Bancshares, Inc.(a) | 1,355 | 21,978 | ||||||
Capitol Federal Financial, Inc. | 5,759 | 63,867 | ||||||
Columbia Financial, Inc.(a) | 2,444 | 44,090 |
72 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Thrifts & Mortgage Finance (continued) | ||||||||
Essent Group Ltd. | 5,706 | $ | 257,740 | |||||
Federal Agricultural Mortgage Corp., Class C | 456 | 44,460 | ||||||
Flagstar Bancorp, Inc. | 2,381 | 108,955 | ||||||
Hingham Institution for Savings | 79 | 23,621 | ||||||
Home Bancorp, Inc. | 190 | 6,673 | ||||||
HomeStreet, Inc. | 954 | 35,975 | ||||||
Kearny Financial Corp. | 3,052 | 36,716 | ||||||
Merchants Bancorp | 405 | 14,839 | ||||||
Meridian Bancorp, Inc. | 3,579 | 68,395 | ||||||
Meta Financial Group, Inc. | 1,236 | 61,429 | ||||||
MGIC Investment Corp. | 17,887 | 247,556 | ||||||
Mr Cooper Group, Inc.(a) | 3,773 | 140,280 | ||||||
New York Community Bancorp, Inc. | 24,685 | 290,789 | ||||||
NMI Holdings, Inc., Class A(a) | 4,380 | 96,448 | ||||||
Northfield Bancorp, Inc. | 1,190 | 19,575 | ||||||
Northwest Bancshares, Inc. | 4,246 | 56,514 | ||||||
Ocwen Financial Corp.(a) | 722 | 18,880 | ||||||
PCSB Financial Corp. | 450 | 8,118 | ||||||
PennyMac Financial Services, Inc. | 1,842 | 115,843 | ||||||
Premier Financial Corp. | 1,940 | 51,953 | ||||||
Provident Bancorp, Inc. | 875 | 13,808 | ||||||
Provident Financial Services, Inc. | 3,731 | 80,590 | ||||||
Radian Group, Inc. | 10,004 | 225,890 | ||||||
Rocket Cos., Inc., Class A | 6,899 | 118,939 | ||||||
Southern Missouri Bancorp, Inc. | 347 | 15,573 | ||||||
TFS Financial Corp. | 3,225 | 62,823 | ||||||
TrustCo Bank Corp. | 719 | 24,180 | ||||||
UWM Holdings Corp.(b) | 2,444 | 18,648 | ||||||
Walker & Dunlop, Inc. | 1,493 | 154,496 | ||||||
Washington Federal, Inc. | 4,414 | 142,440 | ||||||
Waterstone Financial, Inc. | 804 | 15,863 | ||||||
WSFS Financial Corp. | 2,055 | 89,968 | ||||||
|
| |||||||
2,935,289 | ||||||||
Tobacco — 0.5% | ||||||||
22nd Century Group, Inc.(a)(b) | 7,514 | 24,120 | ||||||
Altria Group, Inc. | 95,365 | 4,581,334 | ||||||
Philip Morris International, Inc. | 80,196 | 8,026,818 | ||||||
Turning Point Brands, Inc. | 705 | 37,379 | ||||||
Universal Corp. | 1,325 | 69,112 | ||||||
Vector Group Ltd. | 7,931 | 105,958 | ||||||
|
| |||||||
12,844,721 | ||||||||
Trading Companies & Distributors — 0.3% | ||||||||
Air Lease Corp. | 5,458 | 231,201 | ||||||
Alta Equipment Group, Inc.(a) | 1,686 | 21,227 | ||||||
Applied Industrial Technologies, Inc. | 1,995 | 178,951 | ||||||
Beacon Roofing Supply, Inc.(a) | 2,873 | 153,648 | ||||||
BlueLinx Holdings, Inc.(a) | 482 | 20,707 | ||||||
Boise Cascade Co. | 1,918 | 98,106 | ||||||
CAI International, Inc. | 968 | 54,024 | ||||||
Custom Truck One Source, Inc.(a) | 2,724 | 21,220 | ||||||
DXP Enterprises, Inc.(a) | 556 | 18,153 | ||||||
EVI Industries, Inc.(a) | 262 | 7,058 | ||||||
Fastenal Co. | 29,583 | 1,620,261 | ||||||
GATX Corp. | 1,891 | 174,445 | ||||||
Global Industrial Co. | 1,009 | 39,876 |
Security | Shares | Value | ||||||
Trading Companies & Distributors (continued) | ||||||||
GMS, Inc.(a) | 2,440 | $ | 119,877 | |||||
H&E Equipment Services, Inc. | 1,772 | 60,301 | ||||||
Herc Holdings, Inc.(a)(b) | 1,299 | 161,128 | ||||||
Lawson Products, Inc.(a) | 255 | 13,385 | ||||||
McGrath RentCorp | 1,253 | 98,260 | ||||||
MRC Global, Inc.(a) | 4,647 | 42,613 | ||||||
MSC Industrial Direct Co., Inc., Class A | 2,382 | 212,403 | ||||||
NOW, Inc.(a) | 6,770 | 66,820 | ||||||
Rush Enterprises, Inc., Class A | 1,789 | 84,065 | ||||||
Rush Enterprises, Inc., Class B | 399 | 17,508 | ||||||
SiteOne Landscape Supply, Inc.(a) | 2,258 | 394,653 | ||||||
Textainer Group Holdings Ltd.(a) | 2,893 | 93,386 | ||||||
Titan Machinery, Inc.(a) | 1,169 | 33,351 | ||||||
Transcat, Inc.(a) | 348 | 22,220 | ||||||
Triton International Ltd. | 3,372 | 178,008 | ||||||
United Rentals, Inc.(a) | 3,732 | 1,229,881 | ||||||
Univar Solutions, Inc.(a) | 8,787 | 215,633 | ||||||
Veritiv Corp.(a) | 789 | 48,350 | ||||||
W.W. Grainger, Inc. | 2,397 | 1,065,658 | ||||||
Watsco, Inc. | 1,668 | 471,110 | ||||||
WESCO International, Inc.(a) | 2,266 | 241,216 | ||||||
|
| |||||||
7,508,703 | ||||||||
Transportation Infrastructure — 0.0% | ||||||||
Macquarie Infrastructure Corp. | 3,821 | 150,930 | ||||||
|
| |||||||
Water Utilities — 0.1% | ||||||||
American States Water Co. | 2,002 | 176,817 | ||||||
American Water Works Co., Inc. | 9,332 | 1,587,467 | ||||||
Artesian Resources Corp., Class A | 493 | 19,266 | ||||||
Cadiz, Inc.(a)(b) | 459 | 6,219 | ||||||
California Water Service Group | 2,801 | 175,567 | ||||||
Essential Utilities, Inc. | 11,676 | 573,525 | ||||||
Global Water Resources, Inc. | 881 | 15,523 | ||||||
Middlesex Water Co. | 903 | 91,871 | ||||||
Pure Cycle Corp.(a) | 1,623 | 25,092 | ||||||
SJW Group | 1,481 | 102,085 | ||||||
York Water Co. | 673 | 32,479 | ||||||
|
| |||||||
2,805,911 | ||||||||
Wireless Telecommunication Services — 0.2% | ||||||||
Gogo, Inc.(a) | 2,125 | 22,036 | ||||||
Shenandoah Telecommunications Co. | 2,672 | 141,055 | ||||||
Telephone & Data Systems, Inc. | 5,293 | 118,298 | ||||||
T-Mobile US, Inc.(a) | 30,358 | 4,372,159 | ||||||
United States Cellular Corp.(a)(b) | 1,024 | 37,233 | ||||||
|
| |||||||
4,690,781 | ||||||||
|
| |||||||
Total Common Stocks — 98.6% |
| 2,326,935,865 | ||||||
|
|
S C H E D U L E O F I N V E S T M E N T S | 73 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Investment Companies |
| |||||||
Equity Funds — 0.8% | ||||||||
iShares Russell 3000 ETF(d) | 68,392 | $ | 17,801,070 | |||||
|
| |||||||
Total Investment Companies — 0.8% |
| 17,801,070 | ||||||
|
| |||||||
Total Long-Term Investments — 99.4% |
| 2,344,736,935 | ||||||
|
| |||||||
Short-Term Securities |
| |||||||
Money Market Funds — 1.7% | ||||||||
BlackRock Cash Funds: Institutional, | 28,762,537 | 28,776,918 | ||||||
BlackRock Cash Funds: Treasury, | 12,326,350 | 12,326,350 | ||||||
|
| |||||||
Total Short-Term Securities — 1.7% | 41,103,268 | |||||||
|
| |||||||
Total Investments — 101.1% | 2,385,840,203 | |||||||
Liabilities in Excess of Other Assets — (1.1)% |
| (26,065,246 | ) | |||||
|
| |||||||
Net Assets — 100.0% | $ | 2,359,774,957 | ||||||
|
|
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(c) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) | Affiliate of the Fund. |
(e) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(f) | Annualized 7-day yield as of period end. |
(g) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
For Fund compliance purposes, the Fund’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 07/31/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 07/31/21 | Shares Held at 07/31/21 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, | $ | 15,893,139 | $ | 12,895,039 | (a) | $ | — | $ | 2,901 | $ | (14,161 | ) | $ | 28,776,918 | 28,762,537 | $ | 142,652 | (b) | $ | — | ||||||||||||||||
BlackRock Cash Funds: Treasury, | 3,994,749 | 8,331,601 | (a) | — | — | — | 12,326,350 | 12,326,350 | 5,733 | — | ||||||||||||||||||||||||||
BlackRock, Inc. | 3,237,306 | 1,562,595 | (270,946 | ) | 4,052 | 1,852,833 | 6,385,840 | 7,364 | 96,162 | — | ||||||||||||||||||||||||||
iShares Russell 3000 ETF | 4,927,513 | 155,125,037 | (146,361,419 | ) | 1,906,420 | 2,203,519 | 17,801,070 | 68,392 | 157,119 | — | ||||||||||||||||||||||||||
PennyMac Financial Services, Inc.(c) | 84,358 | 58,033 | (55,956 | ) | 13,840 | 15,568 | N/A | N/A | 1,262 | — | ||||||||||||||||||||||||||
PennyMac Mortgage Investment Trust(c) | 59,189 | 14,559 | — | — | 4,600 | N/A | N/A | 7,191 | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 1,927,213 | $ | 4,062,359 | $ | 65,290,178 | $ | 410,119 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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. |
(c) | As of period end, the entity is no longer an affiliate. |
74 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund |
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 | ||||||||||||||||
Russell 2000 E-Mini Index | 15 | 09/17/21 | $ | 1,666 | $ | (34,098 | ) | |||||||||
S&P 500 E-Mini Index | 52 | 09/17/21 | 11,413 | 143,353 | ||||||||||||
|
| |||||||||||||||
$ | 109,255 | |||||||||||||||
|
|
Derivative Financial Instruments Categorized by Risk Exposure
As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Assets — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Futures contracts | ||||||||||||||||||||||||||||
Unrealized appreciation on futures contracts(a) | $ | — | $ | — | $ | 143,353 | $ | — | $ | — | $ | — | $ | 143,353 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Futures contracts | ||||||||||||||||||||||||||||
Unrealized depreciation on futures contracts(a) | $ | — | $ | — | $ | 34,098 | $ | — | $ | — | $ | — | $ | 34,098 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the year ended July 31, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from | ||||||||||||||||||||||||||||
Futures contracts | $ | — | $ | — | $ | 3,547,594 | $ | — | $ | — | $ | — | $ | 3,547,594 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on | ||||||||||||||||||||||||||||
Futures contracts | $ | — | $ | — | $ | 51,098 | $ | — | $ | — | $ | — | $ | 51,098 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
Futures contracts | ||||||||||||||||||
Average notional value of contracts — long |
| $10,761,270 |
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to 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 | $ | 2,326,934,665 | $ | — | $ | 1,200 | $ | 2,326,935,865 | ||||||||
Investment Companies | 17,801,070 | — | — | 17,801,070 |
S C H E D U L E O F I N V E S T M E N T S | 75 |
Schedule of Investments (continued) July 31, 2021 | iShares Total U.S. Stock Market Index Fund |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | $ | 41,103,268 | $ | — | $ | — | $ | 41,103,268 | ||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 2,385,839,003 | $ | — | $ | 1,200 | $ | 2,385,840,203 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(a) | ||||||||||||||||
Assets | ||||||||||||||||
Equity Contracts | $ | 143,353 | $ | — | $ | — | $ | 143,353 | ||||||||
Liabilities | ||||||||||||||||
Equity Contracts | (34,098 | ) | — | — | (34,098 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 109,255 | $ | — | $ | — | $ | 109,255 | |||||||||
|
|
|
|
|
|
|
|
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
76 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Assets and Liabilities
July 31, 2021
iShares Russell Mid-Cap Index Fund | iShares Russell Small/Mid-Cap Index Fund | iShares Total U.S. Stock Market Index Fund | ||||||||||
ASSETS | ||||||||||||
Investments, at value — unaffiliated(a)(b) | $ | 1,704,483,840 | $ | 469,641,728 | $ | 2,320,550,025 | ||||||
Investments, at value — affiliated(c) | 53,476,432 | 60,619,246 | 65,290,178 | |||||||||
Cash | — | 67 | — | |||||||||
Cash pledged for futures contracts | 625,650 | 181,000 | 654,000 | |||||||||
Receivables: | ||||||||||||
Investments sold | — | 2,312,204 | 2,080,398 | |||||||||
Securities lending income — affiliated | 26,847 | 17,183 | 19,604 | |||||||||
Capital shares sold | 4,709,636 | 14,796,060 | 1,548,724 | |||||||||
Dividends — unaffiliated | 652,943 | 143,012 | 1,717,232 | |||||||||
Dividends — affiliated | 83 | 21 | 87 | |||||||||
From the Manager | — | 6,659 | — | |||||||||
Prepaid expenses | 46,722 | 51,275 | 57,128 | |||||||||
|
|
|
|
|
| |||||||
Total assets | 1,764,022,153 | 547,768,455 | 2,391,917,376 | |||||||||
|
|
|
|
|
| |||||||
LIABILITIES | ||||||||||||
Collateral on securities loaned, at value | 28,670,784 | 37,717,527 | 28,775,206 | |||||||||
Payables: | ||||||||||||
Investments purchased | 1,159,707 | 18,728,134 | 2,815,413 | |||||||||
Accounting services fees | 6,017 | 6,016 | 6,016 | |||||||||
Capital shares redeemed | 5,785,676 | 14,851,731 | 268,119 | |||||||||
Custodian fees | 57,334 | 27,474 | 21,395 | |||||||||
Investment advisory fees | 27,453 | — | 18,323 | |||||||||
Trustees’ and Officer’s fees | 2,386 | 2,198 | 2,251 | |||||||||
Recoupment of past waived fees | 47,204 | — | 30,837 | |||||||||
Other accrued expenses | 128,160 | 24,744 | 49,261 | |||||||||
Professional fees | 32,955 | 62,796 | 52,904 | |||||||||
Service fees | 28,145 | 21,048 | 34,965 | |||||||||
Variation margin on futures contracts | 31,708 | 45,745 | 67,729 | |||||||||
|
|
|
|
|
| |||||||
Total liabilities | 35,977,529 | 71,487,413 | 32,142,419 | |||||||||
|
|
|
|
|
| |||||||
NET ASSETS | $ | 1,728,044,624 | $ | 476,281,042 | $ | 2,359,774,957 | ||||||
|
|
|
|
|
| |||||||
NET ASSETS CONSIST OF | ||||||||||||
Paid-in capital | $ | 1,043,689,522 | $ | 338,387,408 | $ | 1,511,977,830 | ||||||
Accumulated earnings | 684,355,102 | 137,893,634 | 847,797,127 | |||||||||
|
|
|
|
|
| |||||||
NET ASSETS | $ | 1,728,044,624 | $ | 476,281,042 | $ | 2,359,774,957 | ||||||
|
|
|
|
|
| |||||||
(a) Investments, at cost — unaffiliated | $ | 1,033,060,061 | $ | 336,056,183 | $ | 1,468,882,507 | ||||||
(b) Securities loaned, at value | $ | 28,544,807 | $ | 36,581,354 | $ | 28,234,608 | ||||||
(c) Investments, at cost — affiliated | $ | 52,261,437 | $ | 60,302,453 | $ | 59,433,472 |
F I N A N C I A L S T A T E M E N T S | 77 |
Statements of Assets and Liabilities (continued)
July 31, 2021
iShares Russell Mid-Cap Index Fund | iShares Russell Small/Mid-Cap Index Fund | iShares Total U.S. Stock Market Index Fund | ||||||||||
NET ASSET VALUE | ||||||||||||
Institutional | ||||||||||||
Net assets | $ | 195,340,337 | $ | 161,408,764 | $ | 155,377,679 | ||||||
|
|
|
|
|
| |||||||
Shares outstanding | 13,098,495 | 9,317,086 | 7,414,139 | |||||||||
|
|
|
|
|
| |||||||
Net asset value | $ | 14.91 | $ | 17.32 | $ | 20.96 | ||||||
|
|
|
|
|
| |||||||
Shares authorized | Unlimited | Unlimited | Unlimited | |||||||||
|
|
|
|
|
| |||||||
Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
|
|
|
|
|
| |||||||
Investor A | ||||||||||||
Net assets | $ | 136,579,031 | $ | 101,138,622 | $ | 166,600,626 | ||||||
|
|
|
|
|
| |||||||
Shares outstanding | 9,195,590 | 5,848,685 | 7,959,965 | |||||||||
|
|
|
|
|
| |||||||
Net asset value | $ | 14.85 | $ | 17.29 | $ | 20.93 | ||||||
|
|
|
|
|
| |||||||
Shares authorized | Unlimited | Unlimited | Unlimited | |||||||||
|
|
|
|
|
| |||||||
Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
|
|
|
|
|
| |||||||
Class K | ||||||||||||
Net assets | $ | 1,396,125,256 | $ | 213,733,656 | $ | 2,037,796,652 | ||||||
|
|
|
|
|
| |||||||
Shares outstanding | 93,429,832 | 12,337,585 | 97,234,756 | |||||||||
|
|
|
|
|
| |||||||
Net asset value | $ | 14.94 | $ | 17.32 | $ | 20.96 | ||||||
|
|
|
|
|
| |||||||
Shares authorized | Unlimited | Unlimited | Unlimited | |||||||||
|
|
|
|
|
| |||||||
Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||
|
|
|
|
|
|
See notes to financial statements.
78 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Year Ended July 31, 2021
iShares Russell Mid-Cap Index Fund | iShares Russell Small/Mid-Cap Index Fund | iShares Total U.S. Stock Market Index Fund | ||||||||||
INVESTMENT INCOME | ||||||||||||
Dividends — unaffiliated | $ | 18,002,355 | $ | 4,206,676 | $ | 23,031,839 | ||||||
Dividends — affiliated | 92,989 | 63,021 | 267,467 | |||||||||
Securities lending income — affiliated — net | 158,031 | 172,002 | 142,652 | |||||||||
Foreign taxes withheld | (2,367 | ) | (4,472 | ) | (2,897 | ) | ||||||
|
|
|
|
|
| |||||||
Total investment income | 18,251,008 | 4,437,227 | 23,439,061 | |||||||||
|
|
|
|
|
| |||||||
EXPENSES | ||||||||||||
Transfer agent — class specific | 331,182 | 78,379 | 109,332 | |||||||||
Investment advisory | 293,428 | 111,953 | 169,941 | |||||||||
Service — class specific | 287,004 | 206,284 | 339,222 | |||||||||
Professional | 89,927 | 118,425 | 83,632 | |||||||||
Registration | 80,012 | 64,941 | 72,077 | |||||||||
Custodian | 66,781 | 45,178 | 29,816 | |||||||||
Recoupment of past waived and/or reimbursed fees — class specific | 47,204 | — | 5,905 | |||||||||
Trustees and Officer | 9,578 | 8,715 | 9,937 | |||||||||
Accounting services | 9,025 | 9,025 | 9,025 | |||||||||
Recoupment of past fees waived and/or reimbursed fees | — | — | 24,932 | |||||||||
Miscellaneous | 57,615 | 47,993 | 58,156 | |||||||||
|
|
|
|
|
| |||||||
Total expenses | 1,271,756 | 690,893 | 911,975 | |||||||||
Less: | ||||||||||||
Fees waived and/or reimbursed by the Manager | (9,593 | ) | (144,808 | ) | (15,005 | ) | ||||||
Transfer agent fees waived and/or reimbursed — class specific | (2,586 | ) | (7,498 | ) | (5,016 | ) | ||||||
|
|
|
|
|
| |||||||
Total expenses after fees waived and/or reimbursed | 1,259,577 | 538,587 | 891,954 | |||||||||
|
|
|
|
|
| |||||||
Net investment income | 16,991,431 | 3,898,640 | 22,547,107 | |||||||||
|
|
|
|
|
| |||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||
Net realized gain from: | ||||||||||||
Investments — unaffiliated | 55,653,291 | 14,607,641 | 1,138,431 | |||||||||
Investments — affiliated | 3,852,874 | 931,137 | 1,927,213 | |||||||||
Futures contracts | 3,542,485 | 906,853 | 3,547,594 | |||||||||
|
|
|
|
|
| |||||||
63,048,650 | 16,445,631 | 6,613,238 | ||||||||||
|
|
|
|
|
| |||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||
Investments — unaffiliated | 424,296,339 | 113,309,446 | 502,062,873 | |||||||||
Investments — affiliated | (50,287 | ) | 89,793 | 4,062,359 | ||||||||
Futures contracts | 25,918 | 1,109 | 51,098 | |||||||||
|
|
|
|
|
| |||||||
424,271,970 | 113,400,348 | 506,176,330 | ||||||||||
|
|
|
|
|
| |||||||
Net realized and unrealized gain | 487,320,620 | 129,845,979 | 512,789,568 | |||||||||
|
|
|
|
|
| |||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ | 504,312,051 | $ | 133,744,619 | $ | 535,336,675 | ||||||
|
|
|
|
|
|
See notes to financial statements.
F I N A N C I A L S T A T E M E N T S | 79 |
Statements of Changes in Net Assets
iShares Russell Mid-Cap Index Fund | iShares Russell Small/Mid-Cap Index Fund | |||||||||||||||||||
|
|
|
| |||||||||||||||||
Year Ended July 31, | Year Ended July 31, | |||||||||||||||||||
|
|
|
| |||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||
| ||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||||||
OPERATIONS | ||||||||||||||||||||
Net investment income | $ | 16,991,431 | $ | 19,741,828 | $ | 3,898,640 | $ | 3,020,864 | ||||||||||||
Net realized gain (loss) | 63,048,650 | (6,430,824 | ) | 16,445,631 | 3,278,482 | |||||||||||||||
Net change in unrealized appreciation (depreciation) | 424,271,970 | 1,121,723 | 113,400,348 | (3,072,775 | ) | |||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Net increase in net assets resulting from operations | 504,312,051 | 14,432,727 | 133,744,619 | 3,226,571 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||||||||||||||||||
Institutional | (5,368,839 | ) | (8,843,077 | ) | (4,029,472 | ) | (514,135 | ) | ||||||||||||
Investor A | (2,605,085 | ) | (3,674,083 | ) | (3,084,611 | ) | (805,481 | ) | ||||||||||||
Class K | (29,765,293 | ) | (34,859,826 | ) | (8,226,939 | ) | (4,253,492 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Decrease in net assets resulting from distributions to shareholders | (37,739,217 | ) | (47,376,986 | ) | (15,341,022 | ) | (5,573,108 | ) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||||||||||
Net increase in net assets derived from capital share transactions | 60,316,126 | 100,552,839 | 100,862,863 | 62,630,708 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS | ||||||||||||||||||||
Total increase in net assets | 526,888,960 | 67,608,580 | 219,266,460 | 60,284,171 | ||||||||||||||||
Beginning of year | 1,201,155,664 | 1,133,547,084 | 257,014,582 | 196,730,411 | ||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
End of year | $ | 1,728,044,624 | $ | 1,201,155,664 | $ | 476,281,042 | $ | 257,014,582 | ||||||||||||
|
|
|
|
|
|
|
|
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
80 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T �� T O S H A R E H O L D E R S |
Statements of Changes in Net Assets (continued)
iShares Total U.S. Stock Market Index Fund | ||||||||
|
| |||||||
Year Ended July 31, | ||||||||
|
| |||||||
2021 | 2020 | |||||||
| ||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||
OPERATIONS | ||||||||
Net investment income | $ | 22,547,107 | $ | 19,984,832 | ||||
Net realized gain (loss) | 6,613,238 | (2,832,749 | ) | |||||
Net change in unrealized appreciation (depreciation) | 506,176,330 | 108,535,367 | ||||||
|
|
|
| |||||
Net increase in net assets resulting from operations | 535,336,675 | 125,687,450 | ||||||
|
|
|
| |||||
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||||||
Institutional | (1,417,049 | ) | (1,945,677 | ) | ||||
Investor A | (1,498,740 | ) | (1,890,980 | ) | ||||
Class K | (19,697,165 | ) | (20,902,862 | ) | ||||
|
|
|
| |||||
Decrease in net assets resulting from distributions to shareholders | (22,612,954 | ) | (24,739,519 | ) | ||||
|
|
|
| |||||
CAPITAL SHARE TRANSACTIONS | ||||||||
Net increase in net assets derived from capital share transactions | 605,004,464 | 52,045,326 | ||||||
|
|
|
| |||||
NET ASSETS | ||||||||
Total increase in net assets | 1,117,728,185 | 152,993,257 | ||||||
Beginning of year | 1,242,046,772 | 1,089,053,515 | ||||||
|
|
|
| |||||
End of year | $ | 2,359,774,957 | $ | 1,242,046,772 | ||||
|
|
|
|
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
F I N A N C I A L S T A T E M E N T S | 81 |
(For a share outstanding throughout each period)
iShares Russell Mid-Cap Index Fund | ||||||||||||||||||||
Institutional | ||||||||||||||||||||
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Net asset value, beginning of year | $ | 10.75 | $ | 10.98 | $ | 10.70 | $ | 11.26 | $ | 10.22 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income(a) | 0.15 | 0.19 | 0.17 | 0.16 | 0.16 | |||||||||||||||
Net realized and unrealized gain | 4.35 | 0.02 | 0.50 | 1.22 | 1.14 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net increase from investment operations | 4.50 | 0.21 | 0.67 | 1.38 | 1.30 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Distributions(b) | ||||||||||||||||||||
From net investment income | (0.15 | ) | (0.17 | ) | (0.17 | ) | (0.18 | ) | (0.23 | ) | ||||||||||
From net realized gain | (0.19 | ) | (0.27 | ) | (0.22 | ) | (1.76 | ) | (0.03 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.34 | ) | (0.44 | ) | (0.39 | ) | (1.94 | ) | (0.26 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net asset value, end of year | $ | 14.91 | $ | 10.75 | $ | 10.98 | $ | 10.70 | $ | 11.26 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return(c) | ||||||||||||||||||||
Based on net asset value | 42.43 | % | 1.96 | % | 6.76 | % | 13.29 | %(d) | 12.91 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||
Total expenses(e) | 0.09 | % | 0.10 | % | 0.12 | % | 0.13 | % | 0.23 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total expenses after fees waived and/or reimbursed | 0.09 | % | 0.10 | % | 0.12 | % | 0.11 | % | 0.12 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income | 1.18 | % | 1.77 | % | 1.66 | % | 1.46 | % | 1.52 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Supplemental Data | ||||||||||||||||||||
Net assets, end of year (000) | $ | 195,340 | $ | 170,550 | $ | 244,272 | $ | 174,840 | $ | 366,684 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Portfolio turnover rate | 24 | % | 26 | % | 25 | % | 75 | % | 41 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Where applicable, assumes the reinvestment of distributions. |
(d) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(e) | Includes recoupment of past waived and/or reimbursed fees. Excluding the recoupment of past waived and/or reimbursed fees, the expense ratios were as follows: |
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Expense ratios | N/A | 0.09 | % | 0.05 | % | 0.09 | % | 0.20 | % | |||||||||||
|
|
|
|
|
|
|
|
|
|
See notes to financial statements.
82 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell Mid-Cap Index Fund (continued) | ||||||||||||||||||||
Investor A | ||||||||||||||||||||
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Net asset value, beginning of year | $ | 10.71 | $ | 10.93 | $ | 10.66 | $ | 11.24 | $ | 10.20 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income(a) | 0.11 | 0.15 | 0.17 | 0.12 | 0.13 | |||||||||||||||
Net realized and unrealized gain | 4.34 | 0.04 | 0.47 | 1.22 | 1.16 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net increase from investment operations | 4.45 | 0.19 | 0.64 | 1.34 | 1.29 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Distributions(b) | ||||||||||||||||||||
From net investment income | (0.12 | ) | (0.14 | ) | (0.15 | ) | (0.16 | ) | (0.22 | ) | ||||||||||
From net realized gain | (0.19 | ) | (0.27 | ) | (0.22 | ) | (1.76 | ) | (0.03 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.31 | ) | (0.41 | ) | (0.37 | ) | (1.92 | ) | (0.25 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net asset value, end of year | $ | 14.85 | $ | 10.71 | $ | 10.93 | $ | 10.66 | $ | 11.24 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return(c) | ||||||||||||||||||||
Based on net asset value | 42.05 | % | 1.80 | % | 6.43 | % | 12.96 | %(d) | 12.78 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||
Total expenses(e) | 0.36 | % | 0.36 | % | 0.34 | % | 0.35 | % | 0.34 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total expenses after fees waived and/or reimbursed | 0.36 | % | 0.35 | % | 0.33 | % | 0.34 | % | 0.33 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income | 0.87 | % | 1.48 | % | 1.64 | % | 1.11 | % | 1.17 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Supplemental Data | ||||||||||||||||||||
Net assets, end of year (000) | $ | 136,579 | $ | 93,113 | $ | 105,914 | $ | 203,933 | $ | 46,135 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Portfolio turnover rate | 24 | % | 26 | % | 25 | % | 75 | % | 41 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Where applicable, assumes the reinvestment of distributions. |
(d) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(e) | Includes recoupment of past waived and/or reimbursed fees. Excluding the recoupment of past waived and/or reimbursed fees, the expense ratios were as follows: |
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Expense ratios | 0.36 | % | 0.35 | % | 0.33 | % | 0.35 | % | 0.34 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
See notes to financial statements.
F I N A N C I A L H I G H L I G H T S | 83 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell Mid-Cap Index Fund (continued) | ||||||||||||||||||||
Class K | ||||||||||||||||||||
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Net asset value, beginning of year | $ | 10.77 | $ | 11.00 | $ | 10.72 | $ | 11.28 | $ | 10.23 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income(a) | 0.15 | 0.18 | 0.17 | 0.13 | 0.18 | |||||||||||||||
Net realized and unrealized gain | 4.37 | 0.03 | 0.51 | 1.25 | 1.13 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net increase from investment operations | 4.52 | 0.21 | 0.68 | 1.38 | 1.31 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Distributions(b) | ||||||||||||||||||||
From net investment income | (0.16 | ) | (0.17 | ) | (0.18 | ) | (0.18 | ) | (0.23 | ) | ||||||||||
From net realized gain | (0.19 | ) | (0.27 | ) | (0.22 | ) | (1.76 | ) | (0.03 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.35 | ) | (0.44 | ) | (0.40 | ) | (1.94 | ) | (0.26 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net asset value, end of year | $ | 14.94 | $ | 10.77 | $ | 11.00 | $ | 10.72 | $ | 11.28 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return(c) | ||||||||||||||||||||
Based on net asset value | 42.50 | % | 2.00 | % | 6.81 | % | 13.32 | %(d) | 13.02 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||
Total expenses(e) | 0.06 | % | 0.08 | % | 0.07 | % | 0.09 | % | 0.08 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total expenses after fees waived and/or reimbursed | 0.06 | % | 0.07 | % | 0.07 | % | 0.07 | % | 0.06 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income | 1.18 | % | 1.73 | % | 1.67 | % | 1.25 | % | 1.67 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Supplemental Data | ||||||||||||||||||||
Net assets, end of year (000) | $ | 1,396,125 | $ | 937,493 | $ | 783,361 | $ | 410,593 | $ | 229,763 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Portfolio turnover rate | 24 | % | 26 | % | 25 | % | 75 | % | 41 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Where applicable, assumes the reinvestment of distributions. |
(d) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(e) | Includes recoupment of past waived and/or reimbursed fees. Excluding the recoupment of past waived and/or reimbursed fees, the expense ratios were as follows: |
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Expense ratios | 0.05 | % | 0.07 | % | 0.06 | % | 0.08 | % | 10.07 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
See notes to financial statements.
84 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell Small/Mid-Cap Index Fund | ||||||||||||||||||||
Institutional | ||||||||||||||||||||
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Net asset value, beginning of year | $ | 12.17 | $ | 12.72 | $ | 13.20 | $ | 11.58 | $ | 10.22 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income(a) | 0.16 | 0.13 | 0.18 | 0.15 | 0.15 | |||||||||||||||
Net realized and unrealized gain (loss) | 5.66 | (0.35 | ) | (0.16 | ) | 1.82 | 1.38 | |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net increase (decrease) from investment operations | 5.82 | (0.22 | ) | 0.02 | 1.97 | 1.53 | ||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Distributions(b) | ||||||||||||||||||||
From net investment income | (0.18 | ) | (0.16 | ) | (0.20 | ) | (0.17 | ) | (0.15 | ) | ||||||||||
From net realized gain | (0.49 | ) | (0.17 | ) | (0.30 | ) | (0.18 | ) | (0.02 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.67 | ) | (0.33 | ) | (0.50 | ) | (0.35 | ) | (0.17 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net asset value, end of year | $ | 17.32 | $ | 12.17 | $ | 12.72 | $ | 13.20 | $ | 11.58 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return(c) | ||||||||||||||||||||
Based on net asset value | 48.81 | % | (1.68 | )% | 0.58 | % | 17.27 | %(d) | 15.02 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||
Total expenses(e) | 0.16 | % | 0.21 | % | 0.24 | % | 0.28 | % | 0.74 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total expenses after fees waived and/or reimbursed | 0.12 | % | 0.12 | % | 0.12 | % | 0.12 | % | 0.11 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income | 1.02 | % | 1.14 | % | 1.48 | % | 1.21 | % | 1.31 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Supplemental Data | ||||||||||||||||||||
Net assets, end of year (000) | $ | 161,409 | $ | 58,680 | $ | 12,239 | $ | 14,431 | $ | 3,939 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Portfolio turnover rate | 43 | % | 29 | % | 27 | % | 54 | % | 48 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Where applicable, assumes the reinvestment of distributions. |
(d) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(e) | Includes recoupment of past waived and/or reimbursed fees. Excluding the recoupment of past waived and/or reimbursed fees, the expense ratios were as follows: |
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Expense ratios | N/A | 0.21 | % | 0.24 | % | 0.28 | % | 0.74 | % | |||||||||||
|
|
|
|
|
|
|
|
|
|
(f) | Excludes expenses incurred indirectly as a result of investments in underlying funds of 0.01%. |
See notes to financial statements.
F I N A N C I A L H I G H L I G H T S | 85 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell Small/Mid-Cap Index Fund (continued) | ||||||||||||||||||||
Investor A | ||||||||||||||||||||
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Net asset value, beginning of year | $ | 12.15 | $ | 12.70 | $ | 13.18 | $ | 11.56 | $ | 10.21 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income(a) | 0.13 | 0.13 | 0.15 | 0.14 | 0.13 | |||||||||||||||
Net realized and unrealized gain (loss) | 5.65 | (0.37 | ) | (0.16 | ) | 1.80 | 1.37 | |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net increase (decrease) from investment operations | 5.78 | (0.24 | ) | (0.01 | ) | 1.94 | 1.50 | |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Distributions(b) | ||||||||||||||||||||
From net investment income | (0.15 | ) | (0.14 | ) | (0.17 | ) | (0.14 | ) | (0.13 | ) | ||||||||||
From net realized gain | (0.49 | ) | (0.17 | ) | (0.30 | ) | (0.18 | ) | (0.02 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.64 | ) | (0.31 | ) | (0.47 | ) | (0.32 | ) | (0.15 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net asset value, end of year | $ | 17.29 | $ | 12.15 | $ | 12.70 | $ | 13.18 | $ | 11.56 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return(c) | ||||||||||||||||||||
Based on net asset value | 48.49 | % | (1.90 | )% | 0.35 | % | 17.03 | %(d) | 14.71 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||
Total expenses(e) | 0.38 | % | 0.44 | % | 0.45 | % | 0.51 | % | 0.74 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total expenses after fees waived and/or reimbursed | 0.34 | % | 0.35 | % | 0.35 | % | 0.35 | % | 0.33 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income | 0.83 | % | 1.13 | % | 1.25 | % | 1.10 | % | 1.22 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Supplemental Data | ||||||||||||||||||||
Net assets, end of year (000) | $ | 101,139 | $ | 55,522 | $ | 30,250 | $ | 25,073 | $ | 21,358 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Portfolio turnover rate | 43 | % | 29 | % | 27 | % | 54 | % | 48 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Where applicable, assumes the reinvestment of distributions. |
(d) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(e) | Includes recoupment of past waived and/or reimbursed fees. Excluding the recoupment of past waived and/or reimbursed fees, the expense ratios were as follows: |
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Expense ratios | N/A | 0.44 | % | 0.45 | % | 0.51 | % | 0.74 | % | |||||||||||
|
|
|
|
|
|
|
|
|
|
(f) | Excludes expenses incurred indirectly as a result of investments in underlying funds of 0.01%. |
See notes to financial statements.
86 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Russell Small/Mid-Cap Index Fund (continued) | ||||||||||||||||||||
Class K | ||||||||||||||||||||
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Net asset value, beginning of year | $ | 12.17 | $ | 12.72 | $ | 13.20 | $ | 11.58 | $ | 10.22 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income(a) | 0.18 | 0.19 | 0.19 | 0.17 | 0.16 | |||||||||||||||
Net realized and unrealized gain (loss) | 5.65 | (0.40 | ) | (0.16 | ) | 1.80 | 1.37 | |||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net increase (decrease) from investment operations | 5.83 | (0.21 | ) | 0.03 | 1.97 | 1.53 | ||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Distributions(b) | ||||||||||||||||||||
From net investment income | (0.19 | ) | (0.17 | ) | (0.21 | ) | (0.17 | ) | (0.15 | ) | ||||||||||
From net realized gain | (0.49 | ) | (0.17 | ) | (0.30 | ) | (0.18 | ) | (0.02 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.68 | ) | (0.34 | ) | (0.51 | ) | (0.35 | ) | (0.17 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net asset value, end of year | $ | 17.32 | $ | 12.17 | $ | 12.72 | $ | 13.20 | $ | 11.58 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return(c) | ||||||||||||||||||||
Based on net asset value | 48.88 | % | (1.64 | )% | 0.63 | % | 17.32 | %(d) | 15.04 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||
Total expenses(e) | 0.11 | % | 0.16 | % | 0.17 | % | 0.23 | % | 0.47 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total expenses after fees waived and/or reimbursed | 0.07 | % | 0.07 | % | 0.07 | % | 0.07 | % | 0.07 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income | 1.15 | % | 1.55 | % | 1.53 | % | 1.37 | % | 1.47 | %(f) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Supplemental Data | ||||||||||||||||||||
Net assets, end of year (000) | $ | 213,734 | $ | 142,813 | $ | 154,242 | $ | 87,011 | $ | 64,118 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Portfolio turnover rate | 43 | % | 29 | % | 27 | % | 54 | % | 48 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Where applicable, assumes the reinvestment of distributions. |
(d) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(e) | Includes recoupment of past waived and/or reimbursed fees. Excluding the recoupment of past waived and/or reimbursed fees, the expense ratios were as follows: |
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Expense ratios | N/A | 0.16 | % | 0.17 | % | 0.23 | % | 0.47 | % | |||||||||||
|
|
|
|
|
|
|
|
|
|
(f) | Excludes expenses incurred indirectly as a result of investments in underlying funds of 0.01%. |
See notes to financial statements.
F I N A N C I A L H I G H L I G H T S | 87 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Total U.S. Stock Market Index Fund | ||||||||||||||||||||
Institutional | ||||||||||||||||||||
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Net asset value, beginning of year | $ | 15.31 | $ | 14.13 | $ | 13.52 | $ | 11.89 | $ | 10.44 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income(a) | 0.24 | 0.25 | 0.25 | 0.22 | 0.21 | |||||||||||||||
Net realized and unrealized gain | 5.65 | 1.24 | 0.67 | 1.69 | 1.44 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net increase from investment operations | 5.89 | 1.49 | 0.92 | 1.91 | 1.65 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Distributions(b) | ||||||||||||||||||||
From net investment income | (0.23 | ) | (0.27 | ) | (0.26 | ) | (0.22 | ) | (0.19 | ) | ||||||||||
From net realized gain | (0.01 | ) | (0.04 | ) | (0.05 | ) | (0.06 | ) | (0.01 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.24 | ) | (0.31 | ) | (0.31 | ) | (0.28 | ) | (0.20 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net asset value, end of year | $ | 20.96 | $ | 15.31 | $ | 14.13 | $ | 13.52 | $ | 11.89 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return(c) | ||||||||||||||||||||
Based on net asset value | 38.73 | % | 10.79 | % | 7.01 | % | 16.21 | %(d) | 16.03 | %(d) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||
Total expenses(e) | 0.08 | % | 0.09 | % | 0.09 | % | 0.11 | % | 0.08 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total expenses after fees waived and/or reimbursed | 0.08 | % | 0.08 | % | 0.08 | % | 0.08 | % | 0.05 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income | 1.32 | % | 1.79 | % | 1.87 | % | 1.69 | % | 1.87 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Supplemental Data | ||||||||||||||||||||
Net assets, end of year (000) | $ | 155,378 | $ | 84,117 | $ | 88,223 | $ | 83,121 | $ | 27,221 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Portfolio turnover rate | 16 | % | 15 | % | 19 | % | 14 | % | 11 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Where applicable, assumes the reinvestment of distributions. |
(d) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(e) | Includes recoupment of past waived and/or reimbursed fees. Excluding the recoupment of past waived and/or reimbursed fees, the expense ratios were as follows: |
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Expense ratios | 0.08 | % | 0.09 | % | 0.09 | % | 0.11 | % | 0.08 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
See notes to financial statements.
88 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Total U.S. Stock Market Index Fund (continued) | ||||||||||||||||||||
Investor A | ||||||||||||||||||||
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Net asset value, beginning of year | $ | 15.29 | $ | 14.11 | $ | 13.50 | $ | 11.88 | $ | 10.44 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income(a) | 0.20 | 0.22 | 0.22 | 0.19 | 0.18 | |||||||||||||||
Net realized and unrealized gain | 5.64 | 1.24 | 0.67 | 1.68 | 1.44 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net increase from investment operations | 5.84 | 1.46 | 0.89 | 1.87 | 1.62 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Distributions(b) | ||||||||||||||||||||
From net investment income | (0.19 | ) | (0.24 | ) | (0.23 | ) | (0.19 | ) | (0.17 | ) | ||||||||||
From net realized gain | (0.01 | ) | (0.04 | ) | (0.05 | ) | (0.06 | ) | (0.01 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.20 | ) | (0.28 | ) | (0.28 | ) | (0.25 | ) | (0.18 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net asset value, end of year | $ | 20.93 | $ | 15.29 | $ | 14.11 | $ | 13.50 | $ | 11.88 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return(c) | ||||||||||||||||||||
Based on net asset value | 38.42 | % | 10.56 | % | 6.77 | % | 15.87 | %(d) | 15.71 | %(d) | ||||||||||
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|
| |||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||
Total expenses(e) | 0.30 | % | 0.31 | % | 0.32 | % | 0.34 | % | 0.33 | % | ||||||||||
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|
|
|
|
|
|
| |||||||||||
Total expenses after fees waived and/or reimbursed | 0.30 | % | 0.30 | % | 0.31 | % | 0.31 | % | 0.29 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income | 1.11 | % | 1.56 | % | 1.64 | % | 1.51 | % | 1.63 | % | ||||||||||
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|
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| |||||||||||
Supplemental Data | ||||||||||||||||||||
Net assets, end of year (000) | $ | 166,601 | $ | 114,362 | $ | 84,192 | $ | 72,794 | $ | 61,048 | ||||||||||
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| |||||||||||
Portfolio turnover rate | 16 | % | 15 | % | 19 | % | 14 | % | 11 | % | ||||||||||
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|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Where applicable, assumes the reinvestment of distributions. |
(d) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(e) | Includes recoupment of past waived and/or reimbursed fees. Excluding the recoupment of past waived and/or reimbursed fees, the expense ratios were as follows: |
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Expense ratios | 0.30 | % | 0.31 | % | 0.32 | % | 0.34 | % | 0.32 | % | ||||||||||
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|
|
See notes to financial statements.
F I N A N C I A L H I G H L I G H T S | 89 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares Total U.S. Stock Market Index Fund (continued) | ||||||||||||||||||||
Class K | ||||||||||||||||||||
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Net asset value, beginning of year | $ | 15.31 | $ | 14.13 | $ | 13.52 | $ | 11.89 | $ | 10.44 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income(a) | 0.25 | 0.26 | 0.26 | 0.23 | 0.22 | |||||||||||||||
Net realized and unrealized gain | 5.64 | 1.24 | 0.66 | 1.69 | 1.44 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net increase from investment operations | 5.89 | 1.50 | 0.92 | 1.92 | 1.66 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Distributions(b) | ||||||||||||||||||||
From net investment income | (0.23 | ) | (0.28 | ) | (0.26 | ) | (0.23 | ) | (0.20 | ) | ||||||||||
From net realized gain | (0.01 | ) | (0.04 | ) | (0.05 | ) | (0.06 | ) | (0.01 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total distributions | (0.24 | ) | (0.32 | ) | (0.31 | ) | (0.29 | ) | (0.21 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net asset value, end of year | $ | 20.96 | $ | 15.31 | $ | 14.13 | $ | 13.52 | $ | 11.89 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Return(c) | ||||||||||||||||||||
Based on net asset value | 38.79 | % | 10.84 | % | 7.06 | % | 16.26 | %(d) | 16.05 | %(d) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratios to Average Net Assets | ||||||||||||||||||||
Total expenses(e) | 0.03 | % | 0.04 | % | 0.04 | % | 0.06 | % | 0.06 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total expenses after fees waived and/or reimbursed | 0.03 | % | 0.03 | % | 0.03 | % | 0.03 | % | 0.03 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net investment income | 1.35 | % | 1.84 | % | 1.91 | % | 1.79 | % | 1.95 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Supplemental Data | ||||||||||||||||||||
Net assets, end of year (000) | $ | 2,037,797 | $ | 1,043,568 | $ | 916,638 | $ | 761,815 | $ | 599,599 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Portfolio turnover rate | 16 | % | 15 | % | 19 | % | 14 | % | 11 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Where applicable, assumes the reinvestment of distributions. |
(d) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(e) | Includes recoupment of past waived and/or reimbursed fees. Excluding the recoupment of past waived and/or reimbursed fees, the expense ratios were as follows: |
Year Ended July 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||
Expense ratios | 0.03 | % | 0.04 | % | 0.04 | % | 0.06 | % | 0.06 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
See notes to financial statements.
90 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements |
1. | ORGANIZATION |
BlackRock FundsSM (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is organized as a Massachusetts business trust. The following, each of which is a series of the Trust, are referred to herein collectively as the “Funds” or individually as a “Fund”:
Fund Name | Herein Referred To As | Diversification Classification | ||
iShares Russell Mid-Cap Index Fund | Mid-Cap Index | Diversified | ||
iShares Russell Small/Mid-Cap Index Fund | Small/Mid-Cap Index | Diversified | ||
iShares Total U.S. Stock Market Index Fund | Total U.S. Stock Market Index | Diversified |
Each Fund offers multiple classes of shares. All classes of shares have identical voting, dividend, liquidation and other rights and are subject to the same terms and conditions, except that certain classes bear expenses related to the shareholder servicing of such shares. Institutional and Class K Shares are sold only to certain eligible investors. Investor A Shares bear certain expenses related to shareholder servicing of such shares. Investor A Shares are generally available through financial intermediaries. Each class has exclusive voting rights with respect to matters relating to its shareholder servicing and distribution expenditures.
Share Class | Initial Sales Charge | CDSC | Conversion Privilege | |||
Institutional, Investor A and Class K Shares | No | No | None |
The Funds, together with certain other registered investment companies advised by BlackRock Advisors, LLC (the “Manager”) or its affiliates, are included in a complex of equity, multi-asset, index and money market funds referred to as the BlackRock Multi-Asset Complex.
2. | SIGNIFICANT ACCOUNTING POLICIES |
The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:
Investment Transactions and Income Recognition: For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend dates. Non-cash dividends, if any, are recorded on the ex-dividend dates at fair value. Dividends from foreign securities where the ex-dividend dates may have passed are subsequently recorded when the Funds are informed of the ex-dividend dates. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Upon notification from issuers, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Income, expenses and realized and unrealized gains and losses are allocated daily to each class based on its relative net assets.
Foreign Taxes: The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as “Foreign taxes withheld”, and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2021, if any, are disclosed in the Statements of Assets and Liabilities.
The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction’s applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.
Segregation and Collateralization: In cases where a Fund enters into certain investments (e.g., futures contracts) that would be treated as “senior securities” for 1940 Act purposes, a Fund may segregate or designate on its books and records cash or liquid assets having a market value at least equal to the amount of its future obligations under such investments. Doing so allows the investment to be excluded from treatment as a “senior security.” Furthermore, if required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments or obligations.
Distributions: Distributions paid by the Funds are recorded on the ex-dividend dates. The character and timing of distributions are determined in accordance with U.S. federal income tax regulations, which may differ from U.S. GAAP.
Indemnifications: In the normal course of business, a Fund enters into contracts that contain a variety of representations that provide general indemnification. A Fund’s maximum exposure under these arrangements is unknown because it involves future potential claims against a Fund, which cannot be predicted with any certainty.
Other: Expenses directly related to a Fund or its classes are charged to that Fund or the applicable class. Expenses directly related to the Funds and other shared expenses prorated to the Funds are allocated daily to each class based on their relative net assets or other appropriate methods. Other operating expenses shared by several funds, including other funds managed by the Manager, are prorated among those funds on the basis of relative net assets or other appropriate methods.
N O T E S T O F I N A N C I A L S T A T E M E N T S | 91 |
Notes to Financial Statements (continued) |
3. | INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS |
Investment Valuation Policies: Each Fund’s investments are valued at fair value (also referred to as “market value” within the financial statements) each day that the Fund is open for business and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under policies approved by the Board of Trustees of the Trust (the “Board”). If a security’s market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with a policy approved by the Board as reflecting fair value. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) is the committee formed by management to develop global pricing policies and procedures and to oversee the pricing function for all financial instruments.
Fair Value Inputs and Methodologies: The following methods and inputs are used to establish the fair value of each Fund’s assets and liabilities:
• | Equity investments traded on a recognized securities exchange are valued at that day’s official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day may be valued at the last available bid (long positions) or ask (short positions) price. |
• | Exchange-traded funds (“ETFs”) and closed-end funds traded on a recognized securities exchange are valued at that day’s official closing price, as applicable, on the exchange where the stock is primarily traded. ETFs and closed-end funds traded on a recognized exchange for which there were no sales on that day may be valued at the last available bid (long positions) or ask (short positions) price. |
• | Investments in open-end U.S. mutual funds (including money market funds) are valued at that day’s published net asset value (“NAV”). |
• | Futures contracts are valued based on that day’s last reported settlement or trade price on the exchange where the contract is traded. |
Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange (“NYSE”). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments (“Systematic Fair Value Price”). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.
If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Global Valuation Committee, or its delegate, in accordance with a policy approved by the Board as reflecting fair value (“Fair Valued Investments”). The fair valuation approaches that may be used by the Global Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Global Valuation Committee, or its delegate, seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that the Global Valuation Committee, or its delegate, deems relevant and consistent with the principles of fair value measurement. The pricing of all Fair Valued Investments is subsequently reported to the Board or a committee thereof on a quarterly basis.
For investments in equity or debt issued by privately held companies or funds (“Private Company” or collectively, the “Private Companies”) and other Fair Valued Investments, the fair valuation approaches that are used by the Global Valuation Committee and third party pricing services utilize one or a combination of, but not limited to, the following inputs.
Standard Inputs Generally Considered By Third Party Pricing Services | ||
Market approach | (i) recent market transactions, including subsequent rounds of financing, in the underlying investment or comparable issuers; (ii) recapitalizations and other transactions across the capital structure; and (iii) market multiples of comparable issuers. | |
Income approach | (i) future cash flows discounted to present and adjusted as appropriate for liquidity, credit, and/or market risks; (ii) quoted prices for similar investments or assets in active markets; and (iii) other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts and/or default rates. | |
Cost approach | (i) audited or unaudited financial statements, investor communications and financial or operational metrics issued by the Private Company; (ii) changes in the valuation of relevant indices or publicly traded companies comparable to the Private Company; (iii) relevant news and other public sources; and (iv) known secondary market transactions in the Private Company’s interests and merger or acquisition activity in companies comparable to the Private Company. |
Investments in series of preferred stock issued by Private Companies are typically valued utilizing market approach in determining the enterprise value of the company. Such investments often contain rights and preferences that differ from other series of preferred and common stock of the same issuer. Enterprise valuation techniques such as an option pricing model (“OPM”), a probability weighted expected return model (“PWERM”), current value method or a hybrid of those techniques are used, as deemed appropriate under the circumstances. The use of these valuation techniques involve a determination of the exit scenarios of the investment in order to appropriately allocate the enterprise value of the company among the various parts of its capital structure.
92 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (continued)
The Private Companies are not subject to the public company disclosure, timing, and reporting standards applicable to other investments held by a Fund. Typically, the most recently available information by a Private Company is as of a date that is earlier than the date a Fund is calculating its NAV. This factor may result in a difference between the value of the investment and the price a Fund could receive upon the sale of the investment.
Fair Value Hierarchy: 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 Global 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 Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by Private Companies that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.
4. | SECURITIES AND OTHER INVESTMENTS |
Securities Lending: Certain Funds may lend their securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Funds collateral consisting of cash, an irrevocable letter of credit issued by a bank, or securities issued or guaranteed by the U.S. Government. The initial collateral received by each Fund is required to have a value of at least 102% of the current value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current market value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund, or excess collateral returned by the Fund, on the next business day. During the term of the loan, the Funds are entitled to all distributions made on or in respect of the loaned securities, but do not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.
As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested by the securities lending agent, BlackRock Institutional Trust Company, N.A. (“BTC”), if any, is disclosed in the Schedules of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are disclosed in the Funds’ Schedules of Investments. The market value of any securities on loan and the value of any related collateral are shown separately in the Statements of Assets and Liabilities as a component of investments at value – unaffiliated and collateral on securities loaned at value, respectively.
Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an “MSLA”), which provide the right, in the event of default (including bankruptcy or insolvency), for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties’ obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party’s net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.
As of period end, the following table is a summary of the Funds’ securities on loan by counterparty which are subject to offset under an MSLA:
Fund Name/Counterparty | | Securities Loaned at Value | | | Cash Collateral Received | (a) | | Net Amount | (b) | |||
Mid-Cap Index | ||||||||||||
Barclays Capital, Inc. | $ | 26,313 | $ | (26,313 | ) | $ | — | |||||
BNP Paribas Securities Corp. | 2,687,785 | (2,687,785 | ) | — | ||||||||
BofA Securities, Inc. | 5,977,670 | (5,977,670 | ) | — | ||||||||
Citadel Clearing LLC | 17,100 | (17,100 | ) | — | ||||||||
Citigroup Global Markets, Inc. | 6,091,906 | (6,091,906 | ) | — | ||||||||
Credit Suisse Securities (USA) LLC | 1,083,381 | (1,083,381 | ) | — | ||||||||
HSBC Bank PLC | 483,631 | (483,631 | ) | — | ||||||||
Jefferies LLC | 553,365 | (553,365 | ) | — |
N O T E S T O F I N A N C I A L S T A T E M E N T S | 93 |
Notes to Financial Statements (continued)
Fund Name/Counterparty | | Securities Loaned at Value | | | Cash Collateral Received | (a) | | Net Amount | (b) | |||
Mid-Cap Index (continued) | ||||||||||||
Morgan Stanley & Co. LLC | $ | 9,056,650 | $ | (9,056,650 | ) | $ | — | |||||
State Street Bank & Trust Company | 437,900 | (437,900 | ) | — | ||||||||
TD Prime Services LLC | 7,154 | (7,154 | ) | — | ||||||||
Wells Fargo Bank, National Association | 757,095 | (757,095 | ) | — | ||||||||
Wells Fargo Securities LLC | 1,364,857 | (1,364,857 | ) | — | ||||||||
|
|
|
|
|
| |||||||
$ | 28,544,807 | $ | (28,544,807 | ) | $ | — | ||||||
|
|
|
|
|
| |||||||
Small/Mid-Cap Index | ||||||||||||
BMO Capital Markets | $ | 525,476 | $ | (525,476 | ) | $ | — | |||||
BNP Paribas Securities Corp. | 733,611 | (733,611 | ) | — | ||||||||
BofA Securities, Inc. | 4,307,854 | (4,307,854 | ) | — | ||||||||
Citadel Clearing LLC | 5,658 | (5,658 | ) | — | ||||||||
Citigroup Global Markets, Inc. | 1,785,038 | (1,785,038 | ) | — | ||||||||
Credit Suisse Securities (USA) LLC | 875,975 | (875,975 | ) | — | ||||||||
Goldman Sachs & Co. | 9,171,041 | (9,171,041 | ) | — | ||||||||
HSBC Bank PLC | 15,954 | (15,954 | ) | — | ||||||||
J.P. Morgan Securities LLC | 8,082,727 | (8,082,727 | ) | — | ||||||||
Jefferies LLC | 33,195 | (33,195 | ) | — | ||||||||
Morgan Stanley & Co. LLC | 6,254,385 | (6,254,385 | ) | — | ||||||||
National Financial Services LLC | 509,798 | (509,798 | ) | — | ||||||||
Nomura Securities International, Inc. | 16,508 | (16,508 | ) | — | ||||||||
Scotia Capital (USA), Inc. | 1,244,807 | (1,244,807 | ) | — | ||||||||
SG Americas Securities LLC | 4,802 | (4,802 | ) | — | ||||||||
State Street Bank & Trust Company | 978,652 | (978,652 | ) | — | ||||||||
TD Prime Services LLC | 1,360,809 | (1,360,809 | ) | — | ||||||||
Virtu Americas LLC | 421,806 | (421,806 | ) | — | ||||||||
Wells Fargo Bank, National Association | 30,981 | (30,981 | ) | — | ||||||||
Wells Fargo Securities LLC | 222,277 | (222,277 | ) | — | ||||||||
|
|
|
|
|
| |||||||
$ | 36,581,354 | $ | (36,581,354 | ) | $ | — | ||||||
|
|
|
|
|
| |||||||
Total U.S. Stock Market Index | ||||||||||||
BNP Paribas Securities Corp. | $ | 1,275,913 | $ | (1,275,913 | ) | $ | — | |||||
BofA Securities, Inc. | 1,370,887 | (1,370,887 | ) | — | ||||||||
Citadel Clearing LLC | 52,445 | (52,445 | ) | — | ||||||||
Citigroup Global Markets, Inc. | 3,766,583 | (3,441,271 | ) | 325,312 | ||||||||
Credit Suisse Securities (USA) LLC | 623,187 | (623,187 | ) | — | ||||||||
Goldman Sachs & Co. | 5,890,356 | (5,890,356 | ) | — | ||||||||
HSBC Bank PLC | 317,004 | (317,004 | ) | — | ||||||||
J.P. Morgan Securities LLC | 5,704,080 | (5,704,080 | ) | — | ||||||||
Jefferies LLC | 25,521 | (25,521 | ) | — | ||||||||
Morgan Stanley & Co. LLC | 5,313,364 | (5,313,364 | ) | — | ||||||||
National Financial Services LLC | 442,395 | (442,395 | ) | — | ||||||||
Nomura Securities International, Inc. | 97,563 | (97,563 | ) | — | ||||||||
Scotia Capital (USA), Inc. | 656,453 | (656,453 | ) | — | ||||||||
State Street Bank & Trust Company | 483,671 | (483,671 | ) | — | ||||||||
TD Prime Services LLC | 179,825 | (179,825 | ) | — | ||||||||
UBS AG | 500,524 | (500,524 | ) | — | ||||||||
Virtu Americas LLC | 739,363 | (739,363 | ) | — | ||||||||
Wells Fargo Bank, National Association | 123,844 | (123,844 | ) | — | ||||||||
Wells Fargo Securities LLC | 671,630 | (671,630 | ) | — | ||||||||
|
|
|
|
|
| |||||||
$ | 28,234,608 | $ | (27,909,296 | ) | $ | 325,312 | ||||||
|
|
|
|
|
|
(a) | Collateral received in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund’s Statements of Assets and Liabilities. |
(b) | The market value of the loaned securities is determined as of July 31, 2021. Additional collateral is delivered to each Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by the counterparty. |
The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, the Funds benefit from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value on the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by the Funds.
94 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (continued)
5. | DERIVATIVE FINANCIAL INSTRUMENTS |
The Funds engage in various portfolio investment strategies using derivative contracts both to increase the returns of the Funds and/or to manage their exposure to certain risks such as credit risk, equity risk, interest rate risk, foreign currency exchange rate risk, commodity price risk or other risks (e.g., inflation risk). Derivative financial instruments categorized by risk exposure are included in the Schedules of Investments. These contracts may be transacted on an exchange or over-the-counter (“OTC”).
Futures Contracts: Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).
Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract’s size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.
Securities deposited as initial margin are designated in the Schedules of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract (“variation margin”). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.
6. | INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
Investment Advisory: The Trust, on behalf of each Fund, entered into an Investment Advisory Agreement with the Manager, the Funds’ investment adviser and an indirect, wholly-owned subsidiary of BlackRock, to provide investment advisory and administrative services. The Manager is responsible for the management of each Fund’s portfolio and provides the personnel, facilities, equipment and certain other services necessary to the operations of each Fund.
For such services, each Fund pays the Manager a monthly fee at an annual rate equal to the following percentages of the average daily value of each Fund’s net assets:
Fund Name | Investment Advisory Fees | |||
Mid-Cap Index | 0.02 | % | ||
Small/Mid-Cap Index | 0.03 | |||
Total U.S. Stock Market Index | 0.01 |
With respect to each Fund, the Manager entered into separate sub-advisory agreements with BlackRock Fund Advisors (“BFA”), an affiliate of the Manager. The Manager pays BFA for services it provides for that portion of each Fund for which BFA acts as sub-adviser, a monthly fee that is equal to a percentage of the investment advisory fees paid by each Fund to the Manager.
Service Fees: The Trust, on behalf of the Funds, entered into a Distribution Agreement and a Distribution and Service Plan with BlackRock Investments, LLC (“BRIL”), an affiliate of the Manager. Pursuant to the Distribution and Service Plan and in accordance with Rule 12b-1 under the 1940 Act, each Fund pays BRIL ongoing service fees. The fees are accrued daily and paid monthly at annual rates based upon the average daily net assets of the relevant share class of each Fund as follows:
Share Class | Service Fees | |||
Investor A | 0.25 | % |
BRIL and broker-dealers, pursuant to sub-agreements with BRIL, provide shareholder servicing to the Funds. The ongoing service fee compensates BRIL and each broker-dealer for providing shareholder servicing related services to shareholders.
For the year ended July 31, 2021, the following table shows the class specific service fees borne directly by each share class of each Fund:
Fund Name | Investor A | |||
Mid-Cap Index | $ | 287,004 | ||
Small/Mid-Cap Index | 206,284 | |||
Total U.S. Stock Market Index | 339,222 |
Transfer Agent: Pursuant to written agreements, certain financial intermediaries, some of which may be affiliates, provide the Funds with sub-accounting, recordkeeping, sub-transfer agency and other administrative services with respect to servicing of underlying investor accounts. For these services, these entities receive an asset-based fee or an annual fee per shareholder account, which will vary depending on share class and/or net assets. For the year ended July 31, 2021, the Funds did not pay any amounts to affiliates in return for these services.
N O T E S T O F I N A N C I A L S T A T E M E N T S | 95 |
Notes to Financial Statements (continued)
The Manager maintains a call center that is responsible for providing certain shareholder services to the Funds. Shareholder services include responding to inquiries and processing purchases and sales based upon instructions from shareholders. For the year ended July 31, 2021, each Fund reimbursed the Manager the following amounts for costs incurred in running the call center, which are included in transfer agent — class specific in the Statements of Operations:
Fund Name | Institutional | Investor A | Class K | Total | ||||||||||||
Mid-Cap Index | $ | 741 | $ | 5,234 | $ | 8,675 | $ | 14,650 | ||||||||
Small/Mid-Cap Index | 245 | 2,008 | 385 | 2,638 | ||||||||||||
Total U.S. Stock Market Index | 514 | 5,726 | 2,616 | 8,856 |
For the year ended July 31, 2021, the following table shows the class specific transfer agent fees borne directly by each share class of each Fund:
Fund Name | Institutional | Investor A | Class K | Total | ||||||||||||
Mid-Cap Index | $ | 99,718 | $ | 80,521 | $ | 150,943 | $ | 331,182 | ||||||||
Small/Mid-Cap Index | 56,412 | 19,731 | 2,236 | 78,379 | ||||||||||||
Total U.S. Stock Market Index | 55,176 | 31,280 | 22,876 | 109,332 |
Expense Limitations, Waivers, Reimbursements, and Recoupments: With respect to each Fund, the Manager contractually agreed to waive its investment advisory fees by the amount of investment advisory fees each Fund pays to the Manager indirectly through its investment in affiliated money market funds (the “affiliated money market fund waiver”) through November 30, 2021. The contractual agreement may be terminated upon 90 days’ notice by a majority of the trustees who are not “interested persons” of the Trust, as defined in the 1940 Act (“Independent Trustees”), or by a vote of a majority of the outstanding voting securities of a Fund. The amount of waivers and/or reimbursements of fees and expenses made pursuant to the expense limitation described below will be reduced by the amount of the affiliated money market fund waiver. These amounts are included in fees waived and/or reimbursed by the Manager in the Statements of Operations. For the year ended July 31, 2021, the amounts waived were as follows:
Fund Name | Fees Waived and/or Reimbursed by the Manager | |||
Mid-Cap Index | $ | 7,666 | ||
Small/Mid-Cap Index | 2,058 | |||
Total U.S. Stock Market Index | 11,017 |
The Manager has contractually agreed to waive its investment advisory fee with respect to any portion of each Fund’s assets invested in affiliated equity and fixed-income mutual funds and affiliated exchange-traded funds that have a contractual management fee through November 30, 2021. The contractual agreement may be terminated upon 90 days’ notice by a majority of the Independent Trustees, or by a vote of a majority of the outstanding voting securities of a Fund. These amounts are included in fees waived and/or reimbursed by the Manager in the Statements of Operations. For the year ended July 31, 2021, the amounts waived in investment advisory fees pursuant to these arrangements were as follows:
Fund Name | Fees Waived and/or Reimbursed by the Manager | |||
Mid-Cap Index | $ | 1,927 | ||
Small/Mid-Cap Index | 1,026 | |||
Total U.S. Stock Market Index | 1,280 |
With respect to each Fund, the Manager contractually agreed to waive and/or reimburse fees or expenses in order to limit expenses, excluding interest expense, dividend expense, tax expense, acquired fund fees and expenses, and certain other fund expenses, which constitute extraordinary expenses not incurred in the ordinary course of each Fund’s business (“expense limitation”). The expense limitations as a percentage of average daily net assets are as follows:
Fund Name | Institutional | Investor A | Class K | |||||||||
Mid-Cap Index | 0.12 | % | 0.37 | % | 0.07 | % | ||||||
Small/Mid-Cap Index | 0.12 | 0.37 | 0.07 | |||||||||
Total U.S. Stock Market Index | 0.08 | 0.33 | 0.03 |
The Manager has agreed not to reduce or discontinue the contractual expense limitations through November 30, 2021, unless approved by the Board, including a majority of the Independent Trustees, or by a vote of a majority of the outstanding voting securities of a Fund. For the year ended July 31, 2021, amounts included in the Statements of Operations were as follows:
Fund Name | Fees Waived and/or Reimbursed by the Manager | |||
Small/Mid-Cap Index | $ | 141,724 | ||
Total U.S. Stock Market Index | 2,708 |
96 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (continued)
In addition, these amounts waived and/or reimbursed by the Manager are included in transfer agent fees waived and/or reimbursed — class specific in the Statements of Operations. For the year ended July 31, 2021, class specific expense waivers and/or reimbursements are as follows:
Transfer Agent Fees Waived and/or Reimbursed - Class Specific | ||||||||||||||||
Fund Name | Institutional | Investor A | Class K | Total | ||||||||||||
Mid-Cap Index | $ | — | $ | 945 | $ | 1,641 | $ | 2,586 | ||||||||
Small/Mid-Cap Index | 5,268 | — | 2,230 | 7,498 | ||||||||||||
Total U.S. Stock Market Index | 544 | — | 4,472 | 5,016 |
With respect to the contractual expense limitation, if during a Fund’s fiscal year the operating expenses of a share class, that at any time during the prior two fiscal years received a waiver and/or reimbursement from the Manager, are less than the current expense limitation for that share class, the Manager is entitled to be reimbursed by such share class up to the lesser of: (a) the amount of fees waived and/or expenses reimbursed during those prior two fiscal years under the agreement and (b) an amount not to exceed either the current expense limitation of that share class or the expense limitation of the share class in effect at the time that the share class received the applicable waiver and/or reimbursement, provided that:
(1) | each Fund, of which the share class is a part, has more than $50 million in assets for the fiscal year, and |
(2) | the Manager or an affiliate continues to serve as a Fund’s investment adviser or administrator. |
This repayment applies only to the contractual expense limitation on net expenses and does not apply to the contractual investment advisory fee waiver described above or any voluntary waivers that may be in effect from time to time. Effective August 13, 2022 for Small/Mid-Cap Index and Total U.S. Stock Market Index and effective May 13, 2022 for Mid-Cap Index, the repayment arrangement between each Fund and the Manager pursuant to which such Fund may be required to repay amounts waived and/or reimbursed under each Fund’s contractual caps on net expenses will be terminated.
For the year ended July 31, 2021, the Manager recouped the following fund level and class specific waivers and/or reimbursements previously recorded by the Funds:
Fund Name | Fund Level | Institutional | Investor A | Class K | ||||||||||||
Mid-Cap Index | $ | — | $ | — | $ | 1,255 | $ | 45,949 | ||||||||
Total U.S. Stock Market Index | 24,932 | 652 | — | 5,253 |
As of July 31, 2021, the fund level and class specific waivers and/or reimbursements subject to possible future recoupment under the expense limitation agreement are as follows:
Expiring | ||||
Fund Name/Fund Level/Share Class | May 13, 2022 | |||
Mid-Cap Index | ||||
Fund Level | $ | — | ||
Institutional | 1 | |||
Investor A | 945 | |||
Class K | 1,641 |
Expiring | ||||||||
Fund Name/Fund Level/Share Class | July 31, 2022 | August 13, 2022 | ||||||
Small/Mid-Cap Index | ||||||||
Fund Level | $ | 177,108 | $ | 141,724 | ||||
Institutional | 1,236 | 5,268 | ||||||
Investor A | — | — | ||||||
Class K | 2,635 | 2,230 | ||||||
Total U.S. Stock Market Index | ||||||||
Fund Level | 100,739 | 2,708 | ||||||
Institutional | 1,785 | 544 | ||||||
Investor A | — | — | ||||||
Class K | 19,215 | 4,472 |
The following fund level and class specific waivers and/or reimbursements previously recorded by the Funds, which were subject to recoupment by the Manager, expired on July 31, 2021:
Fund Name/Fund Level/Share Class | Expired July 31, 2021 | |||
Mid-Cap Index | ||||
Fund Level | $ | — | ||
Institutional | — | |||
Investor A | — | |||
Class K | — |
N O T E S T O F I N A N C I A L S T A T E M E N T S | 97 |
Notes to Financial Statements (continued)
Fund Name/Fund Level/Share Class | Expired July 31, 2021 | |||
Small/Mid-Cap Index | ||||
Fund Level | $ | 176,663 | ||
Institutional | 2,596 | |||
Investor A | — | |||
Class K | 2,681 | |||
Total U.S. Stock Market Index | ||||
Fund Level | 58,848 | |||
Institutional | 2,316 | |||
Investor A | — | |||
Class K | 4,580 |
Securities Lending: The U.S. Securities and Exchange Commission (“SEC”) has issued an exemptive order which permits BTC, an affiliate of the Manager, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending. The Funds are responsible for fees in connection with the investment of cash collateral received for securities on loan (the “collateral investment fees”). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by the Manager or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees the Funds bear to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% of the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.
Securities lending income is equal to the total of income earned from the reinvestment of cash collateral, net of fees and other payments to and from borrowers of securities, and less the collateral investment fees. Each Fund retains a portion of securities lending income and remits a remaining portion to BTC as compensation for its services as securities lending agent.
Pursuant to the current securities lending agreement, each Fund retains 77% of securities lending income (which excludes collateral investment fees), and this amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.
In addition, commencing the business day following the date that the aggregate securities lending income earned across the BlackRock Multi-Asset Complex in a calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year securities lending income in an amount equal to 81% of securities lending income (which excludes collateral investment fees), and this amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.
Prior to January 1, 2021, each Fund retained 75% of securities lending income (which excluded collateral investment fees) and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees. In addition, commencing the business day following the date that the aggregate securities lending income earned across the BlackRock Multi-Asset Complex in a calendar year exceeded a specified threshold, the Fund would retain for the remainder of that calendar year 80% of securities lending income (which excluded collateral investment fees), and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees.
The share of securities lending income earned by each Fund is shown as securities lending income — affiliated — net in the Statements of Operations. For the year ended July 31, 2021, each Fund paid BTC the following amounts for securities lending agent services:
Fund Name | Amounts | |||
Mid-Cap Index | $ | 53,633 | ||
Small/Mid-Cap Index | 57,015 | |||
Total U.S. Stock Market Index | 48,036 |
Interfund Lending: In accordance with an exemptive order (the “Order”) from the SEC, each Fund may participate in a joint lending and borrowing facility for temporary purposes (the “Interfund Lending Program”), subject to compliance with the terms and conditions of the Order, and to the extent permitted by each Fund’s investment policies and restrictions. Each Fund is currently permitted to borrow and lend under the Interfund Lending Program.
A lending BlackRock fund may lend in aggregate up to 15% of its net assets, but may not lend more than 5% of its net assets to any one borrowing fund through the Interfund Lending Program. A borrowing BlackRock fund may not borrow through the Interfund Lending Program or from any other source more than 33 1/3% of its total assets (or any lower threshold provided for by the fund’s investment restrictions). If a borrowing BlackRock fund’s total outstanding borrowings exceed 10% of its total assets, each of its outstanding interfund loans will be subject to collateralization of at least 102% of the outstanding principal value of the loan. All interfund loans are for temporary or emergency purposes and the interest rate to be charged will be the average of the highest current overnight repurchase agreement rate available to a lending fund and the bank loan rate, as calculated according to a formula established by the Board.
98 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (continued)
During the year ended July 31, 2021, the Funds did not participate in the Interfund Lending Program.
Trustees and Officers: Certain trustees and/or officers of the Trust are directors and/or officers of BlackRock or its affiliates. The Funds reimburse the Manager for a portion of the compensation paid to the Trusts’ Chief Compliance Officer, which is included in Trustees and Officer in the Statements of Operations.
Other Transactions: The Funds may purchase securities from, or sell securities to, an affiliated fund provided the affiliation is due solely to having a common investment adviser, common officers, or common trustees. For the year ended July 31, 2021, the purchase and sale transactions and any net realized gains (losses) with affiliated funds in compliance with Rule 17a-7 under the 1940 Act were as follows:
| ||||||||||||
Fund Name | Purchases | Sales | Net Realized Gain (Loss) | |||||||||
| ||||||||||||
Mid-Cap Index | $ | 52,637,346 | $ | 40,254,181 | $ | (828,864 | ) | |||||
Small/Mid-Cap Index | 9,267,190 | 6,960,466 | 1,402,137 | |||||||||
Total U.S. Stock Market Index | 51,551,949 | 14,279,469 | (1,275,089 | ) | ||||||||
|
7. | PURCHASES AND SALES |
For the year ended July 31, 2021, purchases and sales of investments, excluding short-term investments, were as follows:
Fund Name | Purchases | Sales | ||||||
Mid-Cap Index | $ | 391,756,424 | $ | 351,408,115 | ||||
Small/Mid-Cap Index | 246,956,048 | 155,414,187 | ||||||
Total U.S. Stock Market Index | 868,876,796 | 268,944,288 |
8. | INCOME TAX INFORMATION |
It is each Fund’s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.
Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on each Fund’s U.S. federal tax returns generally remains open for a period of three fiscal years after they are filed. The statutes of limitations on each Fund’s state and local tax returns may remain open for an additional year depending upon the jurisdiction.
Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2021, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.
U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAVs per share. As of period end, the following permanent differences attributable to certain deemed distributions were reclassified to the following accounts:
| ||||||||
Fund Name | Paid-in Capital | Accumulated Earnings (Loss) | ||||||
| ||||||||
Mid-Cap Index | $ | 2,579,870 | $ | (2,579,870 | ) | |||
Small/Mid-Cap Index | 908,487 | (908,487 | ) | |||||
|
The tax character of distributions was as follows:
| ||||||||
Fund Name | Year Ended 07/31/21 | Year Ended 07/31/20 | ||||||
| ||||||||
Mid-Cap Index(a) | ||||||||
Ordinary income | $ | 17,709,371 | $ | 21,172,644 | ||||
Long-term capital gains(b) | 22,609,716 | 27,977,582 | ||||||
|
|
|
| |||||
$ | 40,319,087 | $ | 49,150,226 | |||||
|
|
|
| |||||
Small/Mid-Cap Index(a) | ||||||||
Ordinary income | $ | 7,567,354 | 4,189,730 | |||||
Long-term capital gains(b) | 8,682,155 | 1,616,779 | ||||||
|
|
|
| |||||
$ | 16,249,509 | $ | 5,806,509 | |||||
|
|
|
| |||||
Total U.S. Stock Market Index | ||||||||
Ordinary income | $ | 22,612,954 | 23,807,951 | |||||
Long-term capital gains(b) | — | 931,568 | ||||||
|
|
|
| |||||
$ | 22,612,954 | $ | 24,739,519 | |||||
|
|
|
|
(a) | Distribution amounts may include a portion of the proceeds from redeemed shares. |
(b) | The Funds designate these amounts paid during the fiscal year ended July 31, 2021 as capital gain dividends, subject to a long-term capital gains tax rate of not greater than 20%. |
N O T E S T O F I N A N C I A L S T A T E M E N T S | 99 |
Notes to Financial Statements (continued)
As of period end, the tax components of accumulated earnings (loss) were as follows:
Fund Name | Undistributed Ordinary Income | Undistributed Long-Term Capital Gains | Net Unrealized Gains (Losses)(a) | Total | ||||||||||||
Mid-Cap Index | $ | 14,501,263 | $ | 37,567,645 | $ | 632,286,194 | $ | 684,355,102 | ||||||||
Small/Mid-Cap Index | 6,323,173 | 11,479,686 | 120,090,775 | 137,893,634 | ||||||||||||
Total U.S. Stock Market Index | 10,681,910 | 3,141,150 | 833,974,067 | 847,797,127 |
(a) | The difference between book-basis and tax-basis net unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains on investments in passive foreign investment companies, the realization for tax purposes of unrealized gains/losses on certain futures contracts, the characterization of corporate actions and the timing and recognitiion of partnership income. |
As of July 31, 2021, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:
Fund Name | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | ||||||||||||
Mid-Cap Index | $ | 1,125,674,079 | $ | 667,709,259 | $ | (35,423,066 | ) | $ | 632,286,193 | |||||||
Small/Mid-Cap Index | 410,170,199 | 134,662,012 | (14,571,237 | ) | 120,090,775 | |||||||||||
Total U.S. Stock Market Index | 1,551,866,136 | 876,287,278 | (42,313,211 | ) | 833,974,067 |
9. | BANK BORROWINGS |
The Trust, on behalf of the Funds, along with certain other funds managed by the Manager and its affiliates (“Participating Funds”), is a party to a 364-day, $2.25 billion credit agreement with a group of lenders. Under this agreement, the Funds may borrow to fund shareholder redemptions. Excluding commitments designated for certain individual funds, the Participating Funds, including the Funds, can borrow up to an aggregate commitment amount of $1.75 billion at any time outstanding, subject to asset coverage and other limitations as specified in the agreement. The credit agreement has the following terms: a fee of 0.10% per annum on unused commitment amounts and interest at a rate equal to the higher of (a) one-month LIBOR (but, in any event, not less than 0.00%) on the date the loan is made plus 0.80% per annum or (b) the Fed Funds rate (but, in any event, not less than 0.00%) in effect from time to time plus 0.80% per annum on amounts borrowed. The agreement expires in April 2022 unless extended or renewed. These fees were allocated among such funds based upon portions of the aggregate commitment available to them and relative net assets of Participating Funds. During the year ended July 31, 2021, the Funds did not borrow under the credit agreement.
10. | PRINCIPAL RISKS |
In the normal course of business, the Funds invest in securities or other instruments and may enter into certain transactions, and such activities subject each Fund to various risks, including among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate and price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund’s prospectus provides details of the risks to which each Fund is subject.
The Manager uses a “passive” or index approach to try to achieve each Fund’s investment objective following the securities included in its underlying index during upturns as well as downturns. The Manager does not take steps to reduce market exposure or to lessen the effects of a declining market. Divergence from the underlying index and the composition of the portfolio is monitored by the Manager.
The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to redemption gates or liquidity fees under certain circumstances.
Market Risk: An outbreak of respiratory disease caused by a novel coronavirus has developed into a global pandemic and has resulted in closing borders, quarantines, disruptions to supply chains and customer activity, as well as general concern and uncertainty. The impact of this pandemic, and other global health crises that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. This pandemic may result in substantial market volatility and may adversely impact the prices and liquidity of a fund’s investments. The duration of this pandemic and its effects cannot be determined with certainty.
Valuation Risk: The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A Fund may invest in illiquid investments. An illiquid investment is any investment that a Fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A Fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause each Fund’s NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a Fund may lose value, regardless of the individual results of the securities and other instruments in which a Fund invests.
100 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (continued)
The price a Fund could receive upon the sale of any particular portfolio investment may differ from a Fund’s valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore a Fund’s results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by a Fund, and a Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. A Fund’s ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third party service providers.
Counterparty Credit Risk: The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that the Manager believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.
A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.
With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Funds.
Concentration Risk: A diversified portfolio, where this is appropriate and consistent with a fund’s objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund’s portfolio are disclosed in its Schedule of Investments.
Certain Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a Fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the Fund and could affect the income from, or the value or liquidity of, the Fund’s portfolio. Investment percentages in specific sectors are presented in the Schedules of Investments.
LIBOR Transition Risk: The United Kingdom’s Financial Conduct Authority announced a phase out of the London Interbank Offered Rate (“LIBOR”). Although many LIBOR rates will be phased out by the end of 2021, a selection of widely used USD LIBOR rates will continue to be published through June 2023 in order to assist with the transition. The Funds may be exposed to financial instruments tied to LIBOR to determine payment obligations, financing terms, hedging strategies or investment value. The transition process away from LIBOR might lead to increased volatility and illiquidity in markets for, and reduce the effectiveness of new hedges placed against, instruments whose terms currently include LIBOR. The ultimate effect of the LIBOR transition process on the Funds is uncertain.
11. | CAPITAL SHARE TRANSACTIONS |
Transactions in capital shares for each class were as follows:
Year Ended 07/31/21 | Year Ended 07/31/20 | |||||||||||||||
Fund Name / Share Class | Shares | Amounts | Shares | Amounts | ||||||||||||
Mid-Cap Index | ||||||||||||||||
Shares sold | 6,841,025 | $ | 89,725,735 | 12,015,763 | $ | 110,811,136 | ||||||||||
Shares issued in reinvestment of distributions | 425,794 | 5,367,600 | 822,079 | 8,842,138 | ||||||||||||
Shares redeemed | (10,031,775 | ) | (137,845,040 | ) | (19,230,870 | ) | (175,534,405 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
(2,764,956 | ) | $ | (42,751,705 | ) | (6,393,028 | ) | $ | (55,881,131 | ) | |||||||
|
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|
|
|
|
|
| |||||||||
Investor A | ||||||||||||||||
Shares sold | 3,588,253 | $ | 46,456,816 | 4,509,531 | $ | 45,935,936 | ||||||||||
Shares issued in reinvestment of distributions | 207,420 | 2,603,471 | 345,777 | 3,673,324 | ||||||||||||
Shares redeemed | (3,293,166 | ) | (41,581,063 | ) | (5,848,604 | ) | (58,696,886 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
502,507 | $ | 7,479,224 | (993,296 | ) | $ | (9,087,626 | ) | |||||||||
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| |||||||||
Class K | ||||||||||||||||
Shares sold | 34,266,626 | $ | 457,843,273 | 41,716,615 | $ | 428,313,072 | ||||||||||
Shares issued in reinvestment of distributions | 2,339,955 | 29,684,573 | 3,269,836 | 34,717,182 | ||||||||||||
Shares redeemed | (30,200,655 | ) | (391,939,239 | ) | (29,201,274 | ) | (297,508,658 | ) | ||||||||
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| |||||||||
6,405,926 | $ | 95,588,607 | 15,785,177 | $ | 165,521,596 | |||||||||||
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| |||||||||
4,143,477 | $ | 60,316,126 | 8,398,853 | $ | 100,552,839 | |||||||||||
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N O T E S T O F I N A N C I A L S T A T E M E N T S | 101 |
Notes to Financial Statements (continued)
| ||||||||||||||||
Year Ended 07/31/21 | Year Ended 07/31/20 | |||||||||||||||
Fund Name / Share Class | Shares | Amounts | Shares | Amounts | ||||||||||||
| ||||||||||||||||
Small/Mid-Cap Index | ||||||||||||||||
Shares sold | 5,689,218 | $ | 90,442,217 | 4,474,119 | $ | 49,002,046 | ||||||||||
Shares issued in reinvestment of distributions | 270,507 | 4,029,472 | 43,818 | 514,134 | ||||||||||||
Shares redeemed | (1,464,065 | ) | (21,999,858 | ) | (658,769 | ) | (7,475,351 | ) | ||||||||
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| |||||||||
4,495,660 | $ | 72,471,831 | 3,859,168 | $ | 42,040,829 | |||||||||||
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| |||||||||
Investor A | ||||||||||||||||
Shares sold | 3,584,163 | $ | 55,485,190 | 3,230,299 | $ | 34,683,012 | ||||||||||
Shares issued in reinvestment of distributions | 208,565 | 3,080,737 | 66,811 | 804,318 | ||||||||||||
Shares redeemed | (2,513,519 | ) | (38,946,335 | ) | (1,109,609 | ) | (13,039,273 | ) | ||||||||
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| |||||||||
1,279,209 | $ | 19,619,592 | 2,187,501 | $ | 22,448,057 | |||||||||||
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| |||||||||
Class K | ||||||||||||||||
Shares sold | 3,630,308 | $ | 58,903,179 | 2,964,972 | $ | 35,204,189 | ||||||||||
Shares issued in reinvestment of distributions | 553,753 | 8,205,418 | 346,548 | 4,238,675 | ||||||||||||
Shares redeemed | (3,581,326 | ) | (58,337,157 | ) | (3,704,775 | ) | (41,301,042 | ) | ||||||||
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| |||||||||
602,735 | $ | 8,771,440 | (393,255 | ) | $ | (1,858,178 | ) | |||||||||
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| |||||||||
6,377,604 | $ | 100,862,863 | 5,653,414 | $ | 62,630,708 | |||||||||||
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| ||||||||||||||||
Year Ended 07/31/21 | Year Ended 07/31/20 | |||||||||||||||
Fund Name / Share Class | Shares | Amounts | Shares | Amounts | ||||||||||||
| ||||||||||||||||
Total U.S. Stock Market Index | ||||||||||||||||
Shares sold | 3,592,939 | $ | 68,878,103 | 3,247,765 | $ | 45,030,817 | ||||||||||
Shares issued in reinvestment of distributions | 77,031 | 1,410,791 | 137,813 | 1,941,722 | ||||||||||||
Shares redeemed | (1,749,290 | ) | (31,437,793 | ) | (4,135,864 | ) | (57,772,510 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
1,920,680 | $ | 38,851,101 | (750,286 | ) | $ | (10,799,971 | ) | |||||||||
|
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| |||||||||
Investor A | ||||||||||||||||
Shares sold | 3,002,909 | $ | 56,131,084 | 3,477,143 | $ | 49,169,829 | ||||||||||
Shares issued in reinvestment of distributions | 82,927 | 1,496,485 | 133,886 | 1,889,002 | ||||||||||||
Shares redeemed | (2,603,589 | ) | (46,948,675 | ) | (2,098,473 | ) | (28,566,482 | ) | ||||||||
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|
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|
|
|
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| |||||||||
482,247 | $ | 10,678,894 | 1,512,556 | $ | 22,492,349 | |||||||||||
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| |||||||||
Class K | ||||||||||||||||
Shares sold | 43,977,636 | $ | 825,707,520 | 23,976,909 | $ | 336,767,499 | ||||||||||
Shares issued in reinvestment of distributions | 1,054,995 | 19,347,020 | 1,452,863 | 20,536,206 | ||||||||||||
Shares redeemed | (15,951,939 | ) | (289,580,071 | ) | (22,148,282 | ) | (316,950,757 | ) | ||||||||
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|
|
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|
|
| |||||||||
29,080,692 | $ | 555,474,469 | 3,281,490 | $ | 40,352,948 | |||||||||||
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|
|
|
|
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| |||||||||
31,483,619 | $ | 605,004,464 | 4,043,760 | $ | 52,045,326 | |||||||||||
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|
|
12. | SUBSEQUENT EVENTS |
Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.
102 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of BlackRock FundsSM and Shareholders of iShares Russell Mid-Cap Index Fund, iShares Russell Small/Mid-Cap Index Fund and iShares Total U.S. Stock Market Index Fund
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of iShares Russell Mid-Cap Index Fund, iShares Russell Small/Mid-Cap Index Fund and iShares Total U.S. Stock Market Index Fund (three of the funds constituting BlackRock FundsSM, hereafter collectively referred to as the “Funds”) as of July 31, 2021, the related statements of operations for the year ended July 31, 2021, the statements of changes in net assets for each of the two years in the period ended July 31, 2021, including the related notes, and the financial highlights for each of the five years in the period ended July 31, 2021 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of July 31, 2021, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended July 31, 2021 and each of the financial highlights for each of the five years in the period ended July 31, 2021 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2021 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
September 21, 2021
We have served as the auditor of one or more BlackRock investment companies since 2000.
R E P O R T O F I N D E P E N D E N T R E G I S T E R E D P U B L I C A C C O U N T I N G F I R M | 103 |
Important Tax Information (unaudited)
The following amount(s), or maximum amount(s) allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2021:
Fund Name | Qualified Dividend Income | |||
Mid-Cap Index | $ | 16,613,822 | ||
Small/Mid-Cap Index | 3,496,290 | |||
Total U.S. Stock Market Index | 22,952,930 |
The following amount(s), or maximum amount(s) allowable by law, are hereby designated as qualified business income for individuals for the fiscal year ended July 31, 2021:
Fund Name | Qualified Business Income | |||
Mid-Cap Index | $ | 2,463,504 | ||
Small/Mid-Cap Index | 612,731 | |||
Total U.S. Stock Market Index | 994,251 |
The following percentage, or maximum percentage allowable by law, of ordinary income distributions paid during the fiscal year ended July 31, 2021 that qualified for the dividends-received deduction for corporate shareholders:
Fund Name | Dividends-Received Deduction | |||
Mid-Cap Index | 63.16 | % | ||
Small/Mid-Cap Index | 36.77 | |||
Total U.S. Stock Market Index | 73.53 |
The Funds hereby designate the following amount(s), or maximum amount(s) allowable by law, as qualified short-term capital gain dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended July 31, 2021:
Fund Name | Qualified Short-Term Capital Gain Dividends | |||
Mid-Cap Index | $ | — | ||
Small/Mid-Cap Index | 2,978,723 | |||
Total U.S. Stock Market Index | 1,150,067 |
104 | 2 0 2 1 B L A C K R O C K A N N U A L R E P O R T T O S H A R E H O L D E R S |
Disclosure of Investment Advisory Agreement and Sub-Advisory Agreement
The Board of Trustees (the “Board,” the members of which are referred to as “Board Members”) of BlackRock FundsSM (the “Trust”) met on April 7, 2021 (the “April Meeting”) and May 10-12, 2021 (the “May Meeting”) to consider the approval to continue the investment advisory agreement (the “Advisory Agreement”) between the Trust, on behalf of iShares Russell Mid-Cap Index Fund (“Mid-Cap Index Fund”), iShares Russell Small/Mid-Cap Index Fund (“Small/Mid-Cap Index Fund”) and iShares Total U.S. Stock Market Index Fund (“Total U.S. Stock Market Index Fund” and, together with Mid-Cap Index Fund and Small/Mid-Cap Index Fund, the “Funds”), and BlackRock Advisors, LLC (the “Manager”), each Fund’s investment advisor. The Board also considered the approval of the sub-advisory agreement (the “Sub-Advisory Agreement”) between the Manager and BlackRock Fund Advisors (the “Sub-Advisor”) with respect to each Fund. The Manager and the Sub-Advisor are referred to herein as “BlackRock.” The Advisory Agreement and the Sub-Advisory Agreement are referred to herein as the “Agreements.”
The Approval Process:
Consistent with the requirements of the Investment Company Act of 1940 (the “1940 Act”), the Board considers the approval of the continuation of the Agreements for each Fund on an annual basis. The Board members whom are not “interested persons” of the Trust, as defined in the 1940 Act, are considered independent Board members (the “Independent Board Members”). The Board’s consideration entailed a year-long deliberative process during which the Board and its committees assessed BlackRock’s various services to each Fund, including through the review of written materials and oral presentations, and the review of additional information provided in response to requests from the Independent Board Members. The Board had four quarterly meetings per year, each typically extending for two days, as well as additional ad hoc meetings and executive sessions throughout the year, as needed. The committees of the Board similarly met throughout the year. The Board also had a fifth one-day meeting to consider specific information surrounding the renewal of the Agreements. In particular, the Board assessed, among other things, the nature, extent and quality of the services provided to the Fund by BlackRock, BlackRock’s personnel and affiliates, including (as applicable): investment management services; accounting oversight; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; and legal, regulatory and compliance services. Throughout the year, including during the contract renewal process, the Independent Board Members were advised by independent legal counsel, and met with independent legal counsel in various executive sessions outside of the presence of BlackRock’s management.
During the year, the Board, acting directly and through its committees, considered information that was relevant to its annual consideration of the renewal of the Agreements, including the services and support provided by BlackRock to the Fund and its shareholders. BlackRock also furnished additional information to the Board in response to specific questions from the Board. Among the matters the Board considered were: (a) investment performance for one-year, three-year, five-year, and/or since inception periods, as applicable, against peer funds, an applicable benchmark, and other performance metrics, as applicable, as well as BlackRock senior management’s and portfolio managers’ analyses of the reasons for any outperformance or underperformance relative to its peers, benchmarks, and other performance metrics, as applicable; (b) fees, including advisory, administration, if applicable, and other amounts paid to BlackRock and its affiliates by the Fund for services; (c) Fund operating expenses and how BlackRock allocates expenses to the Fund; (d) the resources devoted to risk oversight of, and compliance reports relating to, implementation of the Fund’s investment objective, policies and restrictions, and meeting regulatory requirements; (e) BlackRock’s and the Trust’s adherence to applicable compliance policies and procedures; (f) the nature, character and scope of non-investment management services provided by BlackRock and its affiliates and the estimated cost of such services, as available; (g) BlackRock’s and other service providers’ internal controls and risk and compliance oversight mechanisms; (h) BlackRock’s implementation of the proxy voting policies approved by the Board; (i) the use of brokerage commissions and execution quality of portfolio transactions; (j) BlackRock’s implementation of the Fund’s valuation and liquidity procedures; (k) an analysis of management fees paid to BlackRock for products with similar investment mandates across the open-end fund, exchange-traded fund (“ETF”), closed-end fund, sub-advised mutual fund, separately managed account, collective investment trust, and institutional separate account product channels, as applicable, and the similarities and differences between these products and the services provided as compared to the Fund; (l) BlackRock’s compensation methodology for its investment professionals and the incentives and accountability it creates, along with investment professionals’ investments in the fund(s) they manage; and (m) periodic updates on BlackRock’s business.
Prior to and in preparation for the April Meeting, the Board received and reviewed materials specifically relating to the renewal of the Agreements. The Independent Board Members continuously engaged in a process with their independent legal counsel and BlackRock to review the nature and scope of the information provided to the Board to better assist its deliberations. The materials provided in connection with the April Meeting included, among other things: (a) information independently compiled and prepared by Broadridge Financial Solutions, Inc. (“Broadridge”), based on either a Lipper classification or Morningstar category, regarding each Fund’s fees and expenses as compared with a peer group of funds as determined by Broadridge (“Expense Peers”) and the investment performance of each Fund as compared with a peer group of funds (“Performance Peers”); (b) information on the composition of the Expense Peers and Performance Peers and a description of Broadridge’s methodology; (c) information on the estimated profits realized by BlackRock and its affiliates pursuant to the Agreements and a discussion of fall-out benefits to BlackRock and its affiliates; (d) a general analysis provided by BlackRock concerning investment management fees received in connection with other types of investment products, such as institutional accounts, sub-advised mutual funds, ETFs, closed-end funds, open-end funds, and separately managed accounts under similar investment mandates, as well as the performance of such other products, as applicable; (e) a review of non-management fees; (f) the existence, impact and sharing of potential economies of scale, if any, with the Funds; (g) a summary of aggregate amounts paid by each Fund to BlackRock; (h) sales and redemption data regarding each Fund’s shares; and (i) various additional information requested by the Board as appropriate regarding BlackRock’s and the Funds’ operations.
At the April Meeting, the Board reviewed materials relating to its consideration of the Agreements. As a result of the discussions that occurred during the April Meeting, and as a culmination of the Board’s year-long deliberative process, the Board presented BlackRock with questions and requests for additional information. BlackRock responded to these questions and requests with additional written information in advance of the May Meeting.
At the May Meeting, the Board concluded its assessment of, among other things: (a) the nature, extent and quality of the services provided by BlackRock; (b) the investment performance of each Fund as compared to its Performance Peers and to other metrics, as applicable; (c) the advisory fee and the estimated cost of the services and estimated profits realized by BlackRock and its affiliates from their relationship with the Funds; (d) each Fund’s fees and expenses compared to its Expense Peers; (e) the existence and sharing of potential economies of scale; (f) any fall-out benefits to BlackRock and its affiliates as a result of BlackRock’s relationship with the Funds; and (g) other factors deemed relevant by the Board Members.
The Board also considered other matters it deemed important to the approval process, such as other payments made to BlackRock or its affiliates relating to securities lending and cash management, and BlackRock’s services related to the valuation and pricing of Fund portfolio holdings. The Board noted the willingness of BlackRock’s personnel to
D I S C L O S U R E O F I N V E S T M E N T A D V I S O R Y A G R E E M E N T A N D S U B - A D V I S O R Y A G R E E M E N T | 105 |
Disclosure of Investment Advisory Agreement and Sub-Advisory Agreement (continued)
engage in open, candid discussions with the Board. The members of the Board gave attention to all of the information that was furnished, and each Board Member placed varying degrees of importance on the various pieces of information that were provided to them. The Board evaluated the information available to it on a fund by fund basis. The following paragraphs provide more information about some of the primary factors that were relevant to the Board’s decision. The Board Members did not identify any particular information, or any single factor as determinative, and each Board Member may have attributed different weights to the various items and factors considered.
A. Nature, Extent and Quality of the Services Provided by BlackRock
The Board, including the Independent Board Members, reviewed the nature, extent and quality of services provided by BlackRock, including the investment advisory services and the resulting performance of each Fund. Throughout the year, the Board compared each Fund’s performance to the performance of a comparable group of mutual funds, relevant benchmark, and performance metrics, as applicable. The Board met with BlackRock’s senior management personnel responsible for investment activities, including the senior investment officers. The Board also reviewed the materials provided by each Fund’s portfolio management team discussing the Fund’s performance, investment strategies and outlook.
The Board considered, among other factors, with respect to BlackRock: the number, education and experience of investment personnel generally and each Fund’s portfolio management team; research capabilities; investments by portfolio managers in the funds they manage; portfolio trading capabilities; use of technology; commitment to compliance; credit analysis capabilities; risk analysis and oversight capabilities; and the approach to training and retaining portfolio managers and other research, advisory and management personnel. The Board also considered BlackRock’s overall risk management program, including the continued efforts of BlackRock and its affiliates to address cybersecurity risks and the role of BlackRock’s Risk & Quantitative Analysis Group. The Board engaged in a review of BlackRock’s compensation structure with respect to each Fund’s portfolio management team and BlackRock’s ability to attract and retain high-quality talent and create performance incentives.
In addition to investment advisory services, the Board considered the nature and quality of the administrative and other non-investment advisory services provided to each Fund. BlackRock and its affiliates provide the Funds with certain administrative, shareholder and other services (in addition to any such services provided to the Funds by third-parties) and officers and other personnel as are necessary for the operations of the Funds. In particular, BlackRock and its affiliates provide the Funds with administrative services including, among others: (i) responsibility for disclosure documents, such as the prospectus, the summary prospectus (as applicable), the statement of additional information and periodic shareholder reports; (ii) oversight of daily accounting and pricing; (iii) responsibility for periodic filings with regulators; (iv) overseeing and coordinating the activities of third-party service providers, including, among others, each Fund’s custodian, fund accountant, transfer agent, and auditor; (v) organizing Board meetings and preparing the materials for such Board meetings; (vi) providing legal and compliance support; (vii) furnishing analytical and other support to assist the Board in its consideration of strategic issues such as the merger, consolidation or repurposing of certain open-end funds; and (viii) performing or managing administrative functions necessary for the operation of the Funds, such as tax reporting, expense management, fulfilling regulatory filing requirements, overseeing each Fund’s distribution partners, and shareholder call center and other services. The Board reviewed the structure and duties of BlackRock’s fund administration, shareholder services, and legal and compliance departments and considered BlackRock’s policies and procedures for assuring compliance with applicable laws and regulations. The Board considered the operation of BlackRock’s business continuity plans, including in light of the ongoing COVID-19 pandemic.
B. The Investment Performance of the Funds and BlackRock
The Board, including the Independent Board Members, reviewed and considered the performance history of the Fund throughout the year and at the April Meeting. In preparation for the April Meeting, the Board was provided with reports independently prepared by Broadridge, which included an analysis of the Fund’s performance as of December 31, 2020, as compared to its Performance Peers. Broadridge ranks funds in quartiles, ranging from first to fourth, where first is the most desirable quartile position and fourth is the least desirable. In connection with its review, the Board received and reviewed information regarding the investment performance of the Fund as compared to its Performance Peers and the performance of the Fund as compared with its benchmark. The Board and its Performance Oversight Committee regularly review and meet with Fund management to discuss the performance of each Fund throughout the year.
In evaluating performance, the Board focused particular attention on funds with less favorable performance records. The Board also noted that while it found the data provided by Broadridge generally useful, it recognized the limitations of such data, including in particular, that notable differences may exist between a fund and its Performance Peers (for example, the investment objectives and strategies). Further, the Board recognized that the performance data reflects a snapshot of a period as of a particular date and that selecting a different performance period could produce significantly different results. The Board also acknowledged that long-term performance could be impacted by even one period of significant outperformance or underperformance, and that a single investment theme could have the ability to disproportionately affect long-term performance.
The Board noted that for the one-year period reported, each of Mid-Cap Index Fund’s and Small/Mid-Cap Index Fund’s net performance was above the tolerance range of its benchmark. The Board noted that BlackRock believes that net performance relative to the benchmark is an appropriate performance metric for the Fund, and that BlackRock has explained its rationale for this belief to the Board. The Board and BlackRock reviewed the Fund’s above tolerance performance relative to its benchmark over the period.
The Board noted that for the one-year period reported, Total U.S. Stock Market Index Fund’s net performance was below the tolerance range of its benchmark. The Board noted that BlackRock believes that net performance relative to the benchmark is an appropriate performance metric for the Fund, and that BlackRock has explained its rationale for this belief to the Board. The Board and BlackRock reviewed the Fund’s below tolerance performance relative to its benchmark over the period. The Board was informed that, among other things, the Fund’s underperformance relative its benchmark and the breach of its lower tolerance, was primarily driven by negative performance stemming from the impact of post-notified flows. Post-notified activity is a source of performance variation, relative to the benchmark, because the flow information is received after the close of the effective date of the activity introducing either a drag or boost to performance.
C. Consideration of the Advisory/Management Fees and the Estimated Cost of the Services and Estimated Profits Realized by BlackRock and its Affiliates from their Relationship with the Funds
The Board, including the Independent Board Members, reviewed each Fund’s contractual management fee rate compared with those of its Expense Peers. The contractual management fee rate represents a combination of the advisory fee and any administrative fees, before taking into account any reimbursements or fee waivers. The Board also compared each Fund’s total expense ratio, as well as its actual management fee rate, to those of its Expense Peers. The total expense ratio represents a fund’s total net
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Disclosure of Investment Advisory Agreement and Sub-Advisory Agreement (continued)
operating expenses, including any 12b-1 or non-12b-1 service fees. The total expense ratio gives effect to any expense reimbursements or fee waivers, and the actual management fee rate gives effect to any management fee reimbursements or waivers. The Board considered the services provided and the fees charged by BlackRock and its affiliates to other types of clients with similar investment mandates, as applicable, including institutional accounts and sub-advised mutual funds (including mutual funds sponsored by third parties).
The Board received and reviewed statements relating to BlackRock’s financial condition. The Board reviewed BlackRock’s profitability methodology and was also provided with an estimated profitability analysis that detailed the revenues earned and the expenses incurred by BlackRock for services provided to each Fund. The Board reviewed BlackRock’s estimated profitability with respect to each Fund and other funds the Board currently oversees for the year ended December 31, 2020 compared to available aggregate estimated profitability data provided for the prior two years. The Board reviewed BlackRock’s estimated profitability with respect to certain other U.S. fund complexes managed by the Manager and/or its affiliates. The Board reviewed BlackRock’s assumptions and methodology of allocating expenses in the estimated profitability analysis, noting the inherent limitations in allocating costs among various advisory products. The Board recognized that profitability may be affected by numerous factors including, among other things, fee waivers and expense reimbursements by the Manager, the types of funds managed, precision of expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at the individual fund level is difficult.
The Board noted that, in general, individual fund or product line profitability of other advisors is not publicly available. The Board reviewed BlackRock’s overall operating margin, in general, compared to that of certain other publicly-traded asset management firms. The Board considered the differences between BlackRock and these other firms, including the contribution of technology at BlackRock, BlackRock’s expense management, and the relative product mix.
The Board considered whether BlackRock has the financial resources necessary to attract and retain high quality investment management personnel to perform its obligations under the Agreements and to continue to provide the high quality of services that is expected by the Board. The Board further considered factors including but not limited to BlackRock’s commitment of time, assumption of risk, and liability profile in servicing the Funds, including in contrast to what is required of BlackRock with respect to other products with similar investment mandates across the open-end fund, ETF, closed-end fund, sub-advised mutual fund, separately managed account, collective investment trust, and institutional separate account product channels, as applicable.
The Board noted that each of Small/Mid-Cap Index Fund’s and Total U.S. Stock Market Index Fund’s contractual management fee rate ranked in the first quartile, and that the actual management fee rate and total expense ratio each ranked in the first quartile relative to the Fund’s Expense Peers.
The Board noted that Mid-Cap Index Fund’s contractual management fee rate ranked in the first quartile, and that the actual management fee rate and total expense ratio ranked in the first and second quartiles, respectively, relative to the Fund’s Expense Peers.
The Board also noted that BlackRock and the Board have contractually agreed to a cap on each Fund’s total expenses as a percentage of the Fund’s average daily net assets on a class-by-class basis.
D. Economies of Scale
The Board, including the Independent Board Members, considered the extent to which economies of scale might be realized as the assets of the Funds increase, including the existence of fee waivers and/or expense caps, as applicable, noting that any contractual fee waivers and contractual expense caps had been approved by the Board. In its consideration, the Board further considered the continuation and/or implementation of fee waivers and/or expense caps, as applicable. The Board also considered the extent to which the Funds benefit from such economies of scale in a variety of ways and whether there should be changes in the advisory fee rate or breakpoint structure in order to enable the Funds to more fully participate in these economies of scale. The Board considered each Fund’s asset levels and whether the current fee schedule was appropriate.
E. Other Factors Deemed Relevant by the Board Members
The Board, including the Independent Board Members, also took into account other ancillary or “fall-out” benefits that BlackRock or its affiliates may derive from BlackRock’s respective relationships with the Funds, both tangible and intangible, such as BlackRock’s ability to leverage its investment professionals who manage other portfolios and its risk management personnel, an increase in BlackRock’s profile in the investment advisory community, and the engagement of BlackRock’s affiliates as service providers to the Funds, including for administrative, distribution, securities lending and cash management services. The Board also considered BlackRock’s overall operations and its efforts to expand the scale of, and improve the quality of, its operations. The Board also noted that, subject to applicable law, BlackRock may use and benefit from third-party research obtained by soft dollars generated by certain registered fund transactions to assist in managing all or a number of its other client accounts.
In connection with its consideration of the Agreements, the Board also received information regarding BlackRock’s brokerage and soft dollar practices. The Board received reports from BlackRock which included information on brokerage commissions and trade execution practices throughout the year.
The Board noted the competitive nature of the open-end fund marketplace, and that shareholders are able to redeem their Fund shares if they believe that the pertinent Fund’s fees and expenses are too high or if they are dissatisfied with the performance of the Fund.
Conclusion
The Board, including the Independent Board Members, unanimously approved the continuation of the Advisory Agreement between the Manager and the Trust, on behalf of each Fund, for a one-year term ending June 30, 2022, and the Sub-Advisory Agreement between the Manager and the Sub-Advisor with respect to each Fund, for a one-year term ending June 30, 2022. Based upon its evaluation of all of the aforementioned factors in their totality, as well as other information, the Board, including the Independent Board Members, was satisfied that the terms of the Agreements were fair and reasonable and, in the best interest of each Fund and its shareholders. In arriving at its decision to approve the Agreements, the Board did not identify any single factor or group of factors as all-important or controlling, but considered all factors together, and different Board Members may have attributed different weights to the various factors considered. The Independent Board Members were also assisted by the advice of independent legal counsel in making this determination.
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Trustee and Officer Information
Independent Trustees(a) | ||||||||
Name Year of Birth(b) | Position(s) Held (Length of Service)(c) | Principal Occupation(s) During Past Five Years | Number of BlackRock-Advised Registered Investment Companies (“RICs”) Consisting of Investment Portfolios (“Portfolios”) Overseen | Public Company Past Five Years | ||||
Mark Stalnecker 1951 | Chair of the Board (Since 2019) and Trustee (Since 2015) | Chief Investment Officer, University of Delaware from 1999 to 2013; Trustee and Chair of the Finance and Investment Committees, Winterthur Museum and Country Estate from 2005 to 2016; Member of the Investment Committee, Delaware Public Employees’ Retirement System since 2002; Member of the Investment Committee, Christiana Care Health System from 2009 to 2017; Member of the Investment Committee, Delaware Community Foundation from 2013 to 2014; Director and Chair of the Audit Committee, SEI Private Trust Co. from 2001 to 2014. | 30 RICs consisting of 152 Portfolios | None | ||||
Bruce R. Bond 1946 | Trustee (Since 2019) | Board Member, Amsphere Limited (software) since 2018; Trustee and Member of the Governance Committee, State Street Research Mutual Funds from 1997 to 2005; Board Member of Governance, Audit and Finance Committee, Avaya Inc. (computer equipment) from 2003 to 2007. | 30 RICs consisting of 152 Portfolios | None | ||||
Susan J. Carter 1956 | Trustee (Since 2016) | Director, Pacific Pension Institute from 2014 to 2018; Advisory Board Member, Center for Private Equity and Entrepreneurship at Tuck School of Business since 1997; Senior Advisor, Commonfund Capital, Inc. (“CCI”) (investment adviser) in 2015; Chief Executive Officer, CCI from 2013 to 2014; President & Chief Executive Officer, CCI from 1997 to 2013; Advisory Board Member, Girls Who Invest from 2015 to 2018 and Board Member thereof since 2018; Advisory Board Member, Bridges Fund Management since 2016; Trustee, Financial Accounting Foundation since 2017; Practitioner Advisory Board Member, Private Capital Research Institute (“PCRI”) since 2017; Lecturer in the Practice of Management, Yale School of Management since 2019; Advisor to Finance Committee, Altman Foundation since 2020. | 30 RICs consisting of 152 Portfolios | None | ||||
Collette Chilton 1958 | Trustee (Since 2015) | Chief Investment Officer, Williams College since 2006; Chief Investment Officer, Lucent Asset Management Corporation from 1998 to 2006; Director, Boys and Girls Club of Boston since 2017; Director, B1 Capital since 2018; Director, David and Lucile Packard Foundation since 2020. | 30 RICs consisting of 152 Portfolios | None | ||||
Neil A. Cotty 1954 | Trustee (Since 2016) | Bank of America Corporation from 1996 to 2015, serving in various senior finance leadership roles, including Chief Accounting Officer from 2009 to 2015, Chief Financial Officer of Global Banking, Markets and Wealth Management from 2008 to 2009, Chief Accounting Officer from 2004 to 2008, Chief Financial Officer of Consumer Bank from 2003 to 2004, Chief Financial Officer of Global Corporate Investment Bank from 1999 to 2002. | 30 RICs consisting of 152 Portfolios | None | ||||
Lena G. Goldberg 1949 | Trustee (Since 2019) | Director, Charles Stark Draper Laboratory, Inc. since 2013; Senior Lecturer, Harvard Business School, from 2008 to 2021; FMR LLC/Fidelity Investments (financial services) from 1996 to 2008, serving in various senior roles including Executive Vice President - Strategic Corporate Initiatives and Executive Vice President and General Counsel; Partner, Sullivan & Worcester LLP from 1985 to 1996 and Associate thereof from 1979 to 1985. | 30 RICs consisting of 152 Portfolios | None |
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Trustee and Officer Information (continued)
Independent Trustees(a) (continued) | ||||||||
Name Year of Birth(b) | Position(s) Held (Length of Service)(c) | Principal Occupation(s) During Past Five Years | Number of BlackRock-Advised Registered Investment Companies (“RICs”) Consisting of Investment Portfolios (“Portfolios”) Overseen | Public Company Past Five Years | ||||
Henry R. Keizer 1956 | Trustee (Since 2019) | Director, Park Indemnity Ltd. (captive insurer) since 2010; Director, MUFG Americas Holdings Corporation and MUFG Union Bank, N.A. (financial and bank holding company) from 2014 to 2016; Director, American Institute of Certified Public Accountants from 2009 to 2011; Director, KPMG LLP (audit, tax and advisory services) from 2004 to 2005 and 2010 to 2012; Director, KPMG International in 2012, Deputy Chairman and Chief Operating Officer thereof from 2010 to 2012 and U.S. Vice Chairman of Audit thereof from 2005 to 2010; Global Head of Audit, KPMGI (consortium of KPMG firms) from 2006 to 2010; Director, YMCA of Greater New York from 2006 to 2010. | 30 RICs consisting of 152 Portfolios | Hertz Global Holdings (car rental); Sealed Air Corp. (packaging); Montpelier Re Holdings, Ltd. (publicly held property and casualty reinsurance) from 2013 to 2015; WABCO (commercial vehicle safety systems) from 2015 to 2020. | ||||
Cynthia A. Montgomery 1952 | Trustee (Since 2007) | Professor, Harvard Business School since 1989. | 30 RICs consisting of 152 Portfolios | Newell Rubbermaid, Inc. (manufacturing) from 1995 to 2016. | ||||
Donald C. Opatrny 1952 | Trustee (Since 2019) | Trustee, Vice Chair, Member of the Executive Committee and Chair of the Investment Committee, Cornell University from 2004 to 2019; President, Trustee and Member of the Investment Committee, The Aldrich Contemporary Art Museum from 2007 to 2014; Member of the Board and Investment Committee, University School from 2007 to 2018; Member of the Investment Committee, Mellon Foundation from 2009 to 2015; Trustee, Artstor (a Mellon Foundation affiliate) from 2010 to 2015; President and Trustee, the Center for the Arts, Jackson Hole from 2011 to 2018; Director, Athena Capital Advisors LLC (investment management firm) since 2013; Trustee and Chair of the Investment Committee, Community Foundation of Jackson Hole since 2014; Member of Affordable Housing Supply Board of Jackson, Wyoming since 2017; Member, Investment Funds Committee, State of Wyoming since 2017; Trustee, Phoenix Art Museum since 2018; Trustee, Arizona Community Foundation and Member of Investment Committee since 2020. | 30 RICs consisting of 152 Portfolios | None | ||||
Joseph P. Platt 1947 | Trustee (Since 2007) | General Partner, Thorn Partners, LP (private investments) since 1998; Director, WQED Multi-Media (public broadcasting not-for-profit) since 2001; Chair, Basic Health International (non-profit) since 2015. | 30 RICs consisting of 152 Portfolios | Greenlight Capital Re, Ltd. (reinsurance company); Consol Energy Inc. | ||||
Kenneth L. Urish 1951 | Trustee (Since 2007) | Managing Partner, Urish Popeck & Co., LLC (certified public accountants and consultants) since 1976; Past- Chairman of the Professional Ethics Committee of the Pennsylvania Institute of Certified Public Accountants and Committee Member thereof since 2007; Member of External Advisory Board, The Pennsylvania State University Accounting Department since founding in 2001; Principal, UP Strategic Wealth Investment Advisors, LLC since 2013; Trustee, The Holy Family Institute from 2001 to 2010; President and Trustee, Pittsburgh Catholic Publishing Associates from 2003 to 2008; Director, Inter- Tel from 2006 to 2007; Member Advisory Board, ESG Competent Boards since 2020. | 30 RICs consisting of 152 Portfolios | None |
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Trustee and Officer Information (continued)
Independent Trustees(a) (continued) | ||||||||
Name Year of Birth(b) | Position(s) Held (Length of Service)(c) | Principal Occupation(s) During Past Five Years | Number of BlackRock-Advised Registered Investment Companies (“RICs”) Consisting of Investment Portfolios (“Portfolios”) Overseen | Public Company Past Five Years | ||||
Claire A. Walton 1957 | Trustee (Since 2016) | Chief Operating Officer and Chief Financial Officer of Liberty Square Asset Management, LP from 1998 to 2015; General Partner of Neon Liberty Capital Management, LLC since 2003; Director, Boston Hedge Fund Group from 2009 to 2018; Director, Woodstock Ski Runners since 2013; Director, Massachusetts Council on Economic Education from 2013 to 2015. | 30 RICs consisting of 152 Portfolios | None | ||||
Interested Trustees(a)(d) | ||||||||
Name Year of Birth(b) | Position(s) Held (Length of Service)(c) | Principal Occupation(s) During Past Five Years | Number of BlackRock-Advised Registered Investment Companies (“RICs”) Consisting of Investment Portfolios (“Portfolios”) Overseen | Public Company Past Five Years | ||||
Robert Fairbairn 1965 | Trustee (Since 2018) | Vice Chairman of BlackRock, Inc. since 2019; Member of BlackRock’s Global Executive and Global Operating Committees; Co-Chair of BlackRock’s Human Capital Committee; Senior Managing Director of BlackRock, Inc. from 2010 to 2019; oversaw BlackRock’s Strategic Partner Program and Strategic Product Management Group from 2012 to 2019; Member of the Board of Managers of BlackRock Investments, LLC from 2011 to 2018; Global Head of BlackRock’s Retail and iShares® businesses from 2012 to 2016. | 103 RICs consisting of 252 Portfolios | None | ||||
John M. Perlowski(e) 1964 | Trustee (Since 2015) President and Chief Executive Officer (Since 2010) | Managing Director of BlackRock, Inc. since 2009; Head of BlackRock Global Accounting and Product Services since 2009; Advisory Director of Family Resource Network (charitable foundation) since 2009. | 105 RICs consisting of 254 Portfolios | None |
(a) | The address of each Trustee is c/o BlackRock, Inc., 55 East 52nd Street, New York, New York 10055. |
(b) | Independent Trustees serve until their resignation, retirement, removal or death, or until December 31 of the year in which they turn 75. The Board may determine to extend the terms of Independent Trustees on a case-by-case basis, as appropriate. |
(c) | Following the combination of Merrill Lynch Investment Managers, L.P. (“MLIM”) and BlackRock, Inc. in September 2006, the various legacy MLIM and legacy BlackRock fund boards were realigned and consolidated into three new fund boards in 2007. Furthermore, effective January 1, 2019, three BlackRock Fund Complexes were realigned and consolidated into two BlackRock Fund Complexes. As a result, although the chart shows the year that each Independent Trustee joined the Board, certain Independent Trustees first became members of the boards of other BlackRock-advised Funds, legacy MLIM funds or legacy BlackRock funds as follows: Bruce R. Bond, 2005; Cynthia A. Montgomery, 1994; Joseph P. Platt, 1999; Kenneth L. Urish, 1999; Lena G. Goldberg, 2016; Henry R. Keizer, 2016; Donald C. Opatrny, 2015. |
(d) | Mr. Fairbairn and Mr. Perlowski are both “interested persons,” as defined in the 1940 Act, of the Trust based on their positions with BlackRock, Inc. and its affiliates. Mr. Fairbairn and Mr. Perlowski are also board members of the BlackRock Fixed-Income Complex. |
(e) | Mr. Perlowski is also a trustee of the BlackRock Credit Strategies Fund and BlackRock Private Investments Fund. |
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Trustee and Officer Information (continued)
Officers Who Are Not Trustees(a) | ||||
Name Year of Birth(b) | Position(s) Held (Length of Service) | Principal Occupation(s) During Past Five Years | ||
Thomas Callahan 1968 | Vice President (Since 2016) | Managing Director of BlackRock, Inc. since 2013; Member of the Board of Managers of BlackRock Investments, LLC (principal underwriter) since 2019 and Managing Director thereof since 2017; Head of BlackRock’s Global Cash Management Business since 2016; Co-Head of the Global Cash Management Business from 2014 to 2016; Deputy Head of the Global Cash Management Business from 2013 to 2014; Member of the Cash Management Group Executive Committee since 2013; Chief Executive Officer of NYSE Liffe U.S. from 2008 to 2013. | ||
Jennifer McGovern 1977 | Vice President (Since 2014) | Managing Director of BlackRock, Inc. since 2016; Director of BlackRock, Inc. from 2011 to 2015; Head of Americas Product Development and Governance for BlackRock’s Global Product Group since 2019; Head of Product Structure and Oversight for BlackRock’s U.S. Wealth Advisory Group from 2013 to 2019. | ||
Trent Walker 1974 | Chief Financial Officer (Since 2021) | Managing Director of BlackRock, Inc. since September 2019; Executive Vice President of PIMCO from 2016 to 2019; Senior Vice President of PIMCO from 2008 to 2015; Treasurer from 2013 to 2019 and Assistant Treasurer from 2007 to 2017 of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. | ||
Jay M. Fife 1970 | Treasurer (Since 2007) | Managing Director of BlackRock, Inc. since 2007. | ||
Charles Park 1967 | Chief Compliance Officer (Since 2014) | Anti-Money Laundering Compliance Officer for certain BlackRock-advised Funds from 2014 to 2015; Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the BlackRock Multi-Asset Complex and the BlackRock Fixed-Income Complex since 2014; Principal of and Chief Compliance Officer for iShares® Delaware Trust Sponsor LLC since 2012 and BlackRock Fund Advisors (“BFA”) since 2006; Chief Compliance Officer for the BFA-advised iShares® exchange traded funds since 2006; Chief Compliance Officer for BlackRock Asset Management International Inc. since 2012. | ||
Lisa Belle 1968 | Anti-Money Laundering Compliance Officer (Since 2019) | Managing Director of BlackRock, Inc. since 2019; Global Financial Crime Head for Asset and Wealth Management of JP Morgan from 2013 to 2019; Managing Director of RBS Securities from 2012 to 2013; Head of Financial Crimes for Barclays Wealth Americas from 2010 to 2012. | ||
Janey Ahn 1975 | Secretary (Since 2019) | Managing Director of BlackRock, Inc. since 2018; Director of BlackRock, Inc. from 2009 to 2017. |
(a) | The address of each Officer is c/o BlackRock, Inc., 55 East 52nd Street, New York, New York 10055. |
(b) | Officers of the Trust serve at the pleasure of the Board. |
Further information about the Trust’s Trustees and Officers is available in the Trust’s Statement of Additional Information, which can be obtained without charge by calling (800) 441-7762.
Neal J. Andrews retired as the Chief Financial Officer effective December 31, 2020, and Trent Walker was elected as the Chief Financial Officer effective January 1, 2021. |
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Regulation Regarding Derivatives
On October 28, 2020, the Securities and Exchange Commission (the “SEC”) adopted new regulations governing the use of derivatives by registered investment companies (“Rule 18f-4”). The Funds will be required to implement and comply with Rule 18f-4 by August 19, 2022. Once implemented, Rule 18f-4 will impose limits on the amount of derivatives a fund can enter into, eliminate the asset segregation framework currently used by funds to comply with Section 18 of the 1940 Act, treat derivatives as senior securities and require funds whose use of derivatives is more than a limited specified exposure amount to establish and maintain a comprehensive derivatives risk management program and appoint a derivatives risk manager.
General Information
Quarterly performance, semi-annual and annual reports, current net asset value and other information regarding the Funds may be found on BlackRock’s website, which can be accessed at blackrock.com. Any reference to BlackRock’s website in this report is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this report.
Householding
The Funds will mail only one copy of shareholder documents, including prospectuses, annual and semi-annual reports, Rule 30e-3 notices and proxy statements, to shareholders with multiple accounts at the same address. This practice is commonly called “householding” and is intended to reduce expenses and eliminate duplicate mailings of shareholder documents. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please call the Funds at (800) 441-7762.
Availability of Quarterly Schedule of Investments
The Funds file their complete schedules of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at blackrock.com/fundreports.
Availability of Proxy Voting Policies, Procedures and Voting Records
A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities and information about how the Funds voted proxies relating to securities held in the Funds’ portfolios during the most recent 12-month period ended June 30 is available without charge, upon request (1) by calling (800) 441-7762; (2) on the BlackRock website at blackrock.com; and (3) on the SEC’s website at sec.gov.
BlackRock’s Mutual Fund Family
BlackRock offers a diverse lineup of open-end mutual funds crossing all investment styles and managed by experts in equity, fixed-income and tax-exempt investing. Visit blackrock.com for more information.
Shareholder Privileges
Account Information
Call us at (800) 441-7762 from 8:00 AM to 6:00 PM ET on any business day to get information about your account balances, recent transactions and share prices. You can also visit blackrock.com for more information.
Automatic Investment Plans
Investor class shareholders who want to invest regularly can arrange to have $50 or more automatically deducted from their checking or savings account and invested in any of the BlackRock funds.
Systematic Withdrawal Plans
Investor class shareholders can establish a systematic withdrawal plan and receive periodic payments of $50 or more from their BlackRock funds, as long as their account balance is at least $10,000.
Retirement Plans
Shareholders may make investments in conjunction with Traditional, Rollover, Roth, Coverdell, Simple IRAs, SEP IRAs and 403(b) Plans.
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Additional Information (continued)
BlackRock Privacy Principles
BlackRock is committed to maintaining the privacy of its current and former fund investors and individual clients (collectively, “Clients”) and to safeguarding their non-public personal information. The following information is provided to help you understand what personal information BlackRock collects, how we protect that information and why in certain cases we share such information with select parties.
If you are located in a jurisdiction where specific laws, rules or regulations require BlackRock to provide you with additional or different privacy-related rights beyond what is set forth below, then BlackRock will comply with those specific laws, rules or regulations.
BlackRock obtains or verifies personal non-public information from and about you from different sources, including the following: (i) information we receive from you or, if applicable, your financial intermediary, on applications, forms or other documents; (ii) information about your transactions with us, our affiliates, or others; (iii) information we receive from a consumer reporting agency; and (iv) from visits to our websites.
BlackRock does not sell or disclose to non-affiliated third parties any non-public personal information about its Clients, except as permitted by law or as is necessary to respond to regulatory requests or to service Client accounts. These non-affiliated third parties are required to protect the confidentiality and security of this information and to use it only for its intended purpose.
We may share information with our affiliates to service your account or to provide you with information about other BlackRock products or services that may be of interest to you. In addition, BlackRock restricts access to non-public personal information about its Clients to those BlackRock employees with a legitimate business need for the information. BlackRock maintains physical, electronic and procedural safeguards that are designed to protect the non-public personal information of its Clients, including procedures relating to the proper storage and disposal of such information.
Fund and Service Providers
Investment Adviser | Distributor | |
BlackRock Advisors, LLC | BlackRock Investments, LLC | |
Wilmington, DE 19809
| New York, NY 10022
| |
Sub-Adviser | Independent Registered Public Accounting Firm | |
BlackRock Fund Advisors | PricewaterhouseCoopers LLP | |
San Francisco, CA 94105
| Philadelphia, PA 19103
| |
Accounting Agent and Custodian | Legal Counsel | |
State Street Bank and Trust Company | Sidley Austin LLP | |
Boston, MA 02111
| New York, NY 10019
| |
Transfer Agent | Address of the Funds | |
BNY Mellon Investment Servicing (US) Inc. | 100 Bellevue Parkway | |
Wilmington, DE 19809 | Wilmington, DE 19809 |
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Glossary of Terms Used in this Report
Portfolio Abbreviation | ||
ETF | Exchange-Traded Fund | |
MSCI | Morgan Stanley Capital International | |
REIT | Real Estate Investment Trust | |
S&P | Standard & Poor’s |
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This report is intended for current holders. It is not authorized for use as an offer of sale or a solicitation of an offer to buy shares of the Funds unless preceded or accompanied by the Funds’ current prospectus. Past performance results shown in this report should not be considered a representation of future performance. Investment returns and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Statements and other information herein are as dated and are subject to change.
INDEX5-07/21-AR
(b) Not Applicable
Item 3 – | Audit Committee Financial Expert – The registrant’s board of directors (the “board of directors”), has determined that (i) the registrant has the following audit committee financial experts serving on its audit committee and (ii) each audit committee financial expert is independent: |
Neil A. Cotty
Henry R. Keizer
Kenneth L. Urish
Under applicable securities laws, a person determined to be an audit committee financial expert will not be deemed an “expert” for any purpose, including without limitation for the purposes of Section 11 of the Securities Act of 1933, as a result of being designated or identified as an audit committee financial expert. The designation or identification of a person as an audit committee financial expert does not impose on such person any duties, obligations, or liabilities greater than the duties, obligations, and liabilities imposed on such person as a member of the audit committee and board of directors in the absence of such designation or identification. The designation or identification of a person as an audit committee financial expert does not affect the duties, obligations, or liability of any other member of the audit committee or board of directors.
Item 4 – | Principal Accountant Fees and Services |
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for the services rendered to the Fund:
(a) Audit Fees | (b) Audit-Related Fees1 | (c) Tax Fees2 | (d) All Other Fees | |||||||||||||
Entity Name | Current Fiscal Year End | Previous Fiscal Year End | Current Fiscal Year End | Previous Fiscal Year End | Current Fiscal Year End | Previous Fiscal Year End | Current Fiscal Year End | Previous Fiscal Year End | ||||||||
iShares Russell Mid-Cap Index Fund | $22,000 | $22,000 | $0 | $0 | $0 | $0 | $0 | $0 | ||||||||
iShares Russell Small/Mid-Cap Index Fund | $22,000 | $22,000 | $0 | $0 | $0 | $0 | $0 | $0 | ||||||||
iShares Total U.S. Stock Market Index Fund | $22,000 | $22,000 | $0 | $0 | $0 | $0 | $0 | $0 |
The following table presents fees billed by PwC that were required to be approved by the registrant’s audit committee (the “Committee”) for services that relate directly to the operations or financial reporting of the Fund and that are rendered on behalf of BlackRock Advisors, LLC ( the “Investment Adviser” or
“BlackRock”) and entities controlling, controlled by, or under common control with BlackRock (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund (“Affiliated Service Providers”):
Current Fiscal Year End | Previous Fiscal Year End | |||
(b) Audit-Related Fees1 | $0 | $0 | ||
(c) Tax Fees2 | $0 | $0 | ||
(d) All Other Fees3 | $0 | $0 |
1 | The nature of the services includes assurance and related services reasonably related to the performance of the audit or review of financial statements not included in Audit Fees, including accounting consultations, agreed-upon procedure reports, attestation reports, comfort letters, out-of-pocket expenses and internal control reviews not required by regulators. |
2 | The nature of the services includes tax compliance and/or tax preparation, including services relating to the filing or amendment of federal, state or local income tax returns, regulated investment company qualification reviews, taxable income and tax distribution calculations. |
3 | Aggregate fees borne by BlackRock in connection with the review of compliance procedures and attestation thereto performed by PwC with respect to all of the registered closed-end funds and some of the registered open-end funds advised by BlackRock. |
(e)(1) | Audit Committee Pre-Approval Policies and Procedures: |
The Committee has adopted policies and procedures with regard to the pre-approval of services. Audit, audit-related and tax compliance services provided to the registrant on an annual basis require specific pre-approval by the Committee. The Committee also must approve other non-audit services provided to the registrant and those non-audit services provided to the Investment Adviser and Affiliated Service Providers that relate directly to the operations and the financial reporting of the registrant. Certain of these non-audit services that the Committee believes are (a) consistent with the SEC’s auditor independence rules and (b) routine and recurring services that will not impair the independence of the independent accountants may be approved by the Committee without consideration on a specific case-by-case basis (“general pre-approval”). The term of any general pre-approval is 12 months from the date of the pre-approval, unless the Committee provides for a different period. Tax or other non-audit services provided to the registrant which have a direct impact on the operations or financial reporting of the registrant will only be deemed pre-approved provided that any individual project does not exceed $10,000 attributable to the registrant or $50,000 per project. For this purpose, multiple projects will be aggregated to determine if they exceed the previously mentioned cost levels.
Any proposed services exceeding the pre-approved cost levels will require specific pre-approval by the Committee, as will any other services not subject to general pre-approval (e.g., unanticipated but permissible services). The Committee is informed of each service approved subject to general pre-approval at the next regularly scheduled in-person board meeting. At this meeting, an analysis of such services is presented to the Committee for ratification. The Committee may delegate to the Committee Chairman the authority to approve the provision of and fees for any specific engagement of permitted non-audit services, including services exceeding pre-approved cost levels.
(e)(2) None of the services described in each of Items 4(b) through (d) were approved by the Committee pursuant to the de minimis exception in paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
(f) Not Applicable
(g) The aggregate non-audit fees, defined as the sum of the fees shown under “Audit-Related Fees,” “Tax
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Fees” and “All Other Fees,” paid to the accountant for services rendered by the accountant to the registrant, the Investment Adviser and the Affiliated Service Providers were:
Entity Name | Current Fiscal Year End | Previous Fiscal Year End | ||
iShares Russell Mid-Cap Index Fund | $0 | $0 | ||
iShares Russell Small/Mid-Cap Index Fund | $0 | $0 | ||
iShares Total U.S. Stock Market Index Fund | $0 | $0 |
(h) The Committee has considered and determined that the provision of non-audit services that were rendered to the Investment Adviser and the Affiliated Service Providers that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
Item 5 – | Audit Committee of Listed Registrant – Not Applicable |
Item 6 – | Investments |
(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1(a) of this Form.
(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.
Item 7 – | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not Applicable |
Item 8 – | Portfolio Managers of Closed-End Management Investment Companies – Not Applicable |
Item 9 – | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not Applicable |
Item 10 – | Submission of Matters to a Vote of Security Holders – There have been no material changes to these procedures. |
Item 11 – | Controls and Procedures |
(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
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Item 12 – | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies –Not Applicable |
Item 13 – | Exhibits attached hereto |
(a)(1) Code of Ethics – See Item 2
(a)(2) Section 302 Certifications are attached
(a)(3) Not Applicable
(a)(4) Not Applicable
(b) Section 906 Certifications are attached
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BlackRock FundsSM
By: | /s/ John M. Perlowski | |||
John M. Perlowski | ||||
Chief Executive Officer (principal executive officer) of | ||||
BlackRock FundsSM |
Date: October 4, 2021
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ John M. Perlowski | |||
John M. Perlowski | ||||
Chief Executive Officer (principal executive officer) of | ||||
BlackRock FundsSM |
Date: October 4, 2021
By: | /s/ Trent Walker | |||
Trent Walker | ||||
Chief Financial Officer (principal financial officer) of | ||||
BlackRock FundsSM |
Date: October 4, 2021
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