# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001752724-23-037482
**Filing Date:** 2023-2
**Character Count:** 30205
**Document Hash:** 399b118467483f07bc225b0608e7b310
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037482.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-037482

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663
- **IRS NUMBER:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 23661270

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** (415) 670-2000

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ISHARES TRUST
- **DATE OF NAME CHANGE:** 19991213

## Series and Classes Contracts Data

### iShares Mortgage Real Estate ETF (Series ID: S000015626)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000042587 | iShares Mortgage Real Estate ETF | REM             |

## Nport-Ex

Schedule of Investments (unaudited)

December 31, 2022

#### iShares® Mortgage Real Estate ETF

#### (Percentages shown are based on Net Assets)

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Mortgage REITs — 97.3%** | **Mortgage REITs — 97.3%** | **Mortgage REITs — 97.3%** |
| AFC Gamma, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;222504 | &nbsp;&nbsp;&nbsp;$3499988 |
| AG Mortgage Investment Trust, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;290943 | &nbsp;&nbsp;&nbsp;&nbsp; 1544907 |
| AGNC Investment Corp.<br>| 6496901 | &nbsp;&nbsp;&nbsp;&nbsp; 67242925 |
| Angel Oak Mortgage, Inc.<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;163385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 772811 |
| Annaly Capital Management, Inc.<br>| 5322842 | &nbsp;&nbsp; 112205509 |
| Apollo Commercial Real Estate Finance, Inc.<br>| 1926194 | &nbsp;&nbsp;&nbsp;&nbsp; 20725847 |
| Arbor Realty Trust, Inc.<br>| 2017555 | &nbsp;&nbsp;&nbsp;&nbsp; 26611550 |
| Ares Commercial Real Estate Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;702700 | &nbsp;&nbsp;&nbsp;&nbsp; 7230783 |
| ARMOUR Residential REIT, Inc.<br>| 1800833 | &nbsp;&nbsp;&nbsp;&nbsp; 10138690 |
| Blackstone Mortgage Trust, Inc., Class A<br>| 1927721 | &nbsp;&nbsp;&nbsp;&nbsp; 40809854 |
| BrightSpire Capital, Inc., Class A<br>| 1282750 | &nbsp;&nbsp;&nbsp;&nbsp; 7991533 |
| Broadmark Realty Capital, Inc.<br>| 1782390 | &nbsp;&nbsp;&nbsp;&nbsp; 6345308 |
| Chicago Atlantic Real Estate Finance, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;74276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1119339 |
| Chimera Investment Corp.<br>| 3183329 | &nbsp;&nbsp;&nbsp;&nbsp; 17508310 |
| Dynex Capital, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;621918 | &nbsp;&nbsp;&nbsp;&nbsp; 7910797 |
| Ellington Financial, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;788307 | &nbsp;&nbsp;&nbsp;&nbsp; 9751358 |
| Franklin BSP Realty Trust, Inc.<br>| 1135784 | &nbsp;&nbsp;&nbsp;&nbsp; 14651614 |
| Granite Point Mortgage Trust, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;711218 | &nbsp;&nbsp;&nbsp;&nbsp; 3812128 |
| Great Ajax Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;294993 | &nbsp;&nbsp;&nbsp;&nbsp; 2138699 |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc.<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;937378 | &nbsp;&nbsp;&nbsp;&nbsp; 27165214 |
| Invesco Mortgage Capital, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;487061 | &nbsp;&nbsp;&nbsp;&nbsp; 6200287 |
| KKR Real Estate Finance Trust, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;781810 | &nbsp;&nbsp;&nbsp;&nbsp; 10914068 |
| Ladder Capital Corp., Class A<br>| 1555262 | &nbsp;&nbsp;&nbsp;&nbsp; 15614830 |
| MFA Financial, Inc.<br>| 1405122 | &nbsp;&nbsp;&nbsp;&nbsp; 13840452 |
| New York Mortgage Trust, Inc.<br>| 5065443 | &nbsp;&nbsp;&nbsp;&nbsp; 12967534 |
| Nexpoint Real Estate Finance, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;109897 | &nbsp;&nbsp;&nbsp;&nbsp; 1746263 |
| Orchid Island Capital, Inc.<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;459665 | &nbsp;&nbsp;&nbsp;&nbsp; 4826483 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Mortgage REITs (continued)** | **Mortgage REITs (continued)** | **Mortgage REITs (continued)** |
| PennyMac Mortgage Investment Trust<br>| 1217822 | &nbsp;&nbsp;$15088815 |
| Ready Capital Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;979703 | &nbsp;&nbsp;&nbsp;&nbsp; 10913891 |
| Redwood Trust, Inc.<br>| 1550600 | &nbsp;&nbsp;&nbsp;&nbsp; 10482056 |
| Rithm Capital Corp.<br>| 3303689 | &nbsp;&nbsp;&nbsp;&nbsp; 26991139 |
| Starwood Property Trust, Inc.<br>| 3326023 | &nbsp;&nbsp;&nbsp;&nbsp; 60966002 |
| TPG RE Finance Trust, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;943675 | &nbsp;&nbsp;&nbsp;&nbsp; 6407553 |
| Two Harbors Investment Corp.<br>| 1182406 | &nbsp;&nbsp;&nbsp;&nbsp; 18646543 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;604783080 |
| **Total Long-Term Investments — 97.3%<br>(Cost: $836,896,168)<br>** | **Total Long-Term Investments — 97.3%<br>(Cost: $836,896,168)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;604783080 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** |
| BlackRock Cash Funds: Institutional, SL Agency Shares, 4.53%<sup>(b)(c)(d)</sup><br>| 4370443 | &nbsp;&nbsp;&nbsp;&nbsp; 4371754 |
| **Total Short-Term Securities — 0.7%<br>(Cost: $4,369,675)<br>** | **Total Short-Term Securities — 0.7%<br>(Cost: $4,369,675)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4371754 |
| **Total Investments — 98.0%<br>(Cost: $841,265,843)<br>** | **Total Investments — 98.0%<br>(Cost: $841,265,843)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;609154834 |
| **Other Assets Less Liabilities — 2.0%<br>** | **Other Assets Less Liabilities — 2.0%<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12744891 |
| **Net Assets — 100.0%<br>** | **Net Assets — 100.0%<br>** | $621899725 |

---

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Affiliate of the Fund.

<sup>(c)</sup> Annualized 7-day yield as of period end.

<sup>(d)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

#### Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended December 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | &nbsp;&nbsp;*Value at<br> 03/31/22* | &nbsp;&nbsp;&nbsp;&nbsp;*Purchases<br> at Cost* | &nbsp;&nbsp;&nbsp;&nbsp;*Proceeds<br> from Sale* | &nbsp;&nbsp;&nbsp;&nbsp;*Net<br> Realized<br> Gain (Loss)* | &nbsp;&nbsp;&nbsp;&nbsp;*Change in<br> Unrealized<br> Appreciation<br> (Depreciation)* | &nbsp;&nbsp;&nbsp;&nbsp;*Value at<br> 12/31/22* | &nbsp;&nbsp;&nbsp;&nbsp;*Shares<br> Held at<br> 12/31/22* | &nbsp;&nbsp;&nbsp;&nbsp;*Income* | &nbsp;&nbsp;&nbsp;&nbsp;*Capital<br> Gain<br> Distributions<br> from Underlying<br> Funds* |
| BlackRock Cash Funds: Institutional, SL Agency Shares<br>| &nbsp;&nbsp;$23893 | &nbsp;&nbsp;&nbsp;&nbsp;$4341619<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$4166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2076 | &nbsp;&nbsp;&nbsp;&nbsp;$4371754 | &nbsp;&nbsp;&nbsp;&nbsp;4370443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$74674<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(c)</sup><br>| &nbsp;&nbsp; 1230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1230000)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp; 27456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$4166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2076 | &nbsp;&nbsp;&nbsp;&nbsp;$4371754 |  | &nbsp;&nbsp;&nbsp;&nbsp;$102130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1 |

---

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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.

<sup>(c)</sup> As of period end, the entity is no longer held.

#### Futures Contracts

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | &nbsp;&nbsp;*Number of<br> Contracts* | &nbsp;&nbsp;&nbsp;&nbsp;*Expiration<br> Date* | &nbsp;&nbsp;&nbsp;&nbsp;*Notional<br> Amount<br> (000)* | &nbsp;&nbsp;&nbsp;&nbsp;*Value/<br> Unrealized<br> Appreciation<br> (Depreciation)* |
| Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dow Jones U.S. Real Estate Index<br>| &nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp;03/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;$17446 | &nbsp;&nbsp;&nbsp;&nbsp;$(90318) |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2022

iShares® Mortgage Real Estate ETF

#### Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;*Level 1* | &nbsp;&nbsp;*Level 2* | &nbsp;&nbsp;*Level 3* | &nbsp;&nbsp;*Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Stocks <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$604783080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$604783080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4371754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4371754 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$609154834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$609154834 |
| Derivative Financial Instruments<sup>(a)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity Contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(90318) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(90318) |

---

<sup>(a)</sup> Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| REIT | &nbsp;&nbsp;Real Estate Investment Trust |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** iShares Trust

- **b. Investment Company Act file number:** 811-09729

- **c. CIK number of Registrant:** 0001100663

- **d. LEI of Registrant:** 5493000860OXIC4B5K91

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 400 Howard Street

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 415-670-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** iShares Mortgage Real Estate ETF

- **b. EDGAR series identifier (if any):** S000015626

- **c. LEI of Series:** 549300WLIJWYXGL2J018

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $624268720.68

**Total Liabilities:** $4628903.67

**Net Assets:** $619639817.01

**Cash Not Reported:** $669151.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000042587 | 12.60%               | 8.06%                | -7.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4011503.16             | $69547088.81                               |
| Month 2  | $2989534.98              | $45489123.24                               |
| Month 3  | $-24904031.91            | $-38399094.59                              |

### Schedule of Portfolio Investments

| Name                                        | Title                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Arbor Realty Trust Inc                      | Arbor Realty Trust Inc                                  | CUSIP: 038923108<br>LEI: 549300ASFUWYQO0RW077 | Long             | EC               | CORP              | US        |   2014488 | NS      | $26571096.72  | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ellington Financial Inc                     | Ellington Financial Inc                                 | CUSIP: 28852N109<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EC               | CORP              | US        |    787108 | NS      | $9736525.96   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Commercial Real Estate Co              | Ares Commercial Real Estate Corp                        | CUSIP: 04013V108<br>LEI: 549300ZNO5IWXS443S81 | Long             | EC               | CORP              | US        |    701632 | NS      | $7219793.28   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightSpire Capital Inc                     | BrightSpire Capital Inc                                 | CUSIP: 10949T109<br>LEI: 549300BOIFLLMVU37752 | Long             | EC               | CORP              | US        |   1280800 | NS      | $7979384.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK GLOBAL                            | BLACKROCK GLOBAL                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   4246880 | NS      | $4248154.34   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin BSP Realty Trust Inc               | Franklin BSP Realty Trust Inc                           | CUSIP: 35243J101<br>LEI: 549300LH3QNZK9Y1KC93 | Long             | EC               | CORP              | US        |   1134057 | NS      | $14629335.30  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp                          | Rithm Capital Corp                                      | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               | CORP              | US        |   3298667 | NS      | $26950109.39  | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Orchid Island Capital Inc                   | Orchid Island Capital Inc                               | CUSIP: 68571X301<br>LEI: 549300KBIHGT19K9DY89 | Long             | EC               | CORP              | US        |    458966 | NS      | $4819143.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: —       |
| Dynex Capital Inc                           | Dynex Capital Inc                                       | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |    621918 | NS      | $7910796.96   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Chimera Investment Corp                     | Chimera Investment Corp                                 | CUSIP: 16934Q208<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EC               | CORP              | US        |   3178491 | NS      | $17481700.50  | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Ready Capital Corp                          | Ready Capital Corp                                      | CUSIP: 75574U101<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EC               | CORP              | US        |    978214 | NS      | $10897303.96  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | DOW JONES US REAL ESTATE INDEX                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DE               | CORP              | US        |       475 | NC      | $-89698.46    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust Inc                 | Starwood Property Trust Inc                             | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |   3320968 | NS      | $60873343.44  | 9.82%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment T              | PennyMac Mortgage Investment Trust                      | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               | CORP              | US        |   1215970 | NS      | $15065868.30  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AFC Gamma Inc                               | AFC Gamma Inc                                           | CUSIP: 00109K105<br>LEI: 5493005G0MGS3E0E7218 | Long             | EC               | CORP              | US        |    222504 | NS      | $3499987.92   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadmark Realty Capital Inc                | Broadmark Realty Capital Inc                            | CUSIP: 11135B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1779681 | NS      | $6335664.36   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Ajax Corp                             | Great Ajax Corp                                         | CUSIP: 38983D300<br>LEI: 5493004ID2QQWNGDYC18 | Long             | EC               | CORP              | US        |    294977 | NS      | $2138583.25   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Angel Oak Mortgage Inc                      | Angel Oak Mortgage Inc                                  | CUSIP: 03464Y108<br>LEI: 5493008M8D7W7VZZ7V36 | Long             | EC               | CORP              | US        |    162789 | NS      | $769991.97    | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| AG Mortgage Investment Trust I              | AG Mortgage Investment Trust Inc                        | CUSIP: 001228501<br>LEI: 549300SNP0PBR2XTFR48 | Long             | EC               | CORP              | US        |    289881 | NS      | $1539268.11   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Two Harbors Investment Corp                 | Two Harbors Investment Corp                             | CUSIP: 90187B804<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EC               | CORP              | US        |   1180608 | NS      | $18618188.16  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hannon Armstrong Sustainable I              | Hannon Armstrong Sustainable Infrastructure Capital Inc | CUSIP: 41068X100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    935954 | NS      | $27123946.92  | 4.38%             |  |  |  | No            |                  1 | On Loan: —       |
| Granite Point Mortgage Trust I              | Granite Point Mortgage Trust Inc                        | CUSIP: 38741L107<br>LEI: 529900VX2HQZ76AYIE02 | Long             | EC               | CORP              | US        |    708622 | NS      | $3798213.92   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMOUR Residential REIT Inc                 | ARMOUR Residential REIT Inc                             | CUSIP: 042315507<br>LEI: 549300K0WA0EJUX74V72 | Long             | EC               | CORP              | US        |   1798096 | NS      | $10123280.48  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Ladder Capital Corp                         | Ladder Capital Corp                                     | CUSIP: 505743104<br>LEI: 549300Q6LLV2QCV67C06 | Long             | EC               | CORP              | US        |   1552899 | NS      | $15591105.96  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Atlantic Real Estate F              | Chicago Atlantic Real Estate Finance Inc                | CUSIP: 167239102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74411 | NS      | $1121373.77   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR Real Estate Finance Trust               | KKR Real Estate Finance Trust Inc                       | CUSIP: 48251K100<br>LEI: 549300K23AYZDZ2REL62 | Long             | EC               | CORP              | US        |    780622 | NS      | $10897483.12  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexpoint Real Estate Finance I              | Nexpoint Real Estate Finance Inc                        | CUSIP: 65342V101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    109872 | NS      | $1745866.08   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Commercial Real Estate               | Apollo Commercial Real Estate Finance Inc               | CUSIP: 03762U105<br>LEI: 549300E0AN7M2AQHSY29 | Long             | EC               | CORP              | US        |   1923267 | NS      | $20694352.92  | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mortgage Trust Inc                 | New York Mortgage Trust Inc                             | CUSIP: 649604501<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EC               | CORP              | US        |   5057743 | NS      | $12947822.08  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Mortgage Trust Inc               | Blackstone Mortgage Trust Inc                           | CUSIP: 09257W100<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | EC               | CORP              | US        |   1924791 | NS      | $40747825.47  | 6.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc               | Annaly Capital Management Inc                           | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |   5314752 | NS      | $112034972.16 | 18.08%            |  |  |  | No            |                  1 | On Loan: No      |
| TPG RE Finance Trust Inc                    | TPG RE Finance Trust Inc                                | CUSIP: 87266M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    942240 | NS      | $6397809.60   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA Financial Inc                           | MFA Financial Inc                                       | CUSIP: 55272X607<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EC               | CORP              | US        |   1402986 | NS      | $13819412.10  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Trust Inc                           | Redwood Trust Inc                                       | CUSIP: 758075402<br>LEI: DRBV4N1ERQLEMIF11G78 | Long             | EC               | CORP              | US        |   1548241 | NS      | $10466109.16  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC Investment Corp                        | AGNC Investment Corp                                    | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |   6487026 | NS      | $67140719.10  | 10.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Mortgage Capital Inc                | Invesco Mortgage Capital Inc                            | CUSIP: 46131B704<br>LEI: PV3BDP2HFZL2FNXQBL39 | Long             | EC               | CORP              | US        |    486319 | NS      | $6190840.87   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-23

**Name of Applicant:** iShares Trust

**Signature:** Ann Frechette

**Name of Signer:** Ann Frechette

**Title:** Assistant Treasurer