# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001193125-26-144981
**Filing Date:** 2026-4
**Character Count:** 589595
**Document Hash:** b5b071daf042a8e9d7fb647d2efd8709
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-144981.hdr.sgml**: 20260407

**ACCESSION NUMBER**: 0001193125-26-144981

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260407

**DATE AS OF CHANGE**: 20260407

**EFFECTIVENESS DATE**: 20260407

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK FUNDS
- **CENTRAL INDEX KEY:** 0000844779

**ORGANIZATION NAME:**
- **EIN:** 510318674
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05742
- **FILM NUMBER:** 26843687

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COMPASS CAPITAL FUNDS\
- **DATE OF NAME CHANGE:** 19961114

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PNC FUND
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NCP FUNDS
- **DATE OF NAME CHANGE:** 19890511

## Series and Classes Contracts Data

### iShares Russell Mid-Cap Index Fund (Series ID: S000049319)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000155940 | Institutional |  |
| C000155941 | Class K       |  |
| C000163604 | Investor A    |  |

### iShares Total U.S. Stock Market Index Fund (Series ID: S000050372)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000159048 | Investor A    |  |
| C000159049 | Institutional |  |
| C000159050 | Class K       |  |

### iShares Russell Small/Mid-Cap Index Fund (Series ID: S000050373)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000159051 | Investor A    |  |
| C000159052 | Institutional |  |
| C000159053 | Class K       |  |

?xml version='1.0' encoding='ASCII'? BlackRock Funds

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 Funds<sup>SM</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares Russell Mid-Cap Index Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares Russell Small/Mid-Cap Index Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 Funds<sup>SM</sup>, 50 Hudson Yards, New York, NY 10001

Registrant's telephone number, including area code:

&nbsp;&nbsp;&nbsp;&nbsp;(800) 441-7762

Date of fiscal year end:

7/31/2026

Date of reporting period:

1/31/2026

Item 1 — Report to Stockholders

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Report to Shareholders is attached herewith

![TSR - BLK Retail Logo](g59050images_5743.jpg)

### iShares Russell Mid-Cap Index Fund

### Institutional Shares \| BRMIX

#### Semi-Annual Shareholder Report — January 31, 2026

------

This semi-annual shareholder report contains important information about iShares Russell Mid-Cap Index Fund (the "Fund") for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at **blackrock.com/fundreports**. You can also request this information by contacting us at (800) 441-7762.

#### What were the Fund costs for the last six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| Institutional Shares | $5 | 0.09%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Annualized.</sup>

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2250587957 |
| Number of Portfolio Holdings | &nbsp;&nbsp;812 |
| Portfolio Turnover Rate | &nbsp;&nbsp;4% |

---

#### What did the Fund invest in?
(as of January 31, 2026)

---

| | |
|:---|:---|
| **Sector allocation** | **Sector allocation** |
| *Sector<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Industrials | 18.8% |
| Financials | 14.6% |
| Information Technology | 12.3% |
| Consumer Discretionary | 11.2% |
| Health Care | 9.6% |
| Real Estate | 6.8% |
| Utilities | 5.9% |
| Energy | 5.9% |
| Materials | 5.2% |
| Consumer Staples | 4.7% |
| Other\* | 4.5% |
| Short-Term Securities | 2.2% |
| Liabilities in Excess of Other Assets | (1.7) |

---

---

| | |
|:---|:---|
| **Ten largest holdings** | **Ten largest holdings** |
| *Security<sup>(b)</sup>* | *Percent of<br> Net Assets* |
| iShares Russell Mid-Cap ETF | 0.8% |
| Western Digital Corp. | 0.7% |
| Bank of New York Mellon Corp. | 0.6% |
| Howmet Aerospace, Inc. | 0.6% |
| Royal Caribbean Cruises Ltd. | 0.6% |
| Corning, Inc. | 0.6% |
| Cummins, Inc. | 0.6% |
| Sandisk Corp. | 0.6% |
| Robinhood Markets, Inc., Class A | 0.6% |
| Vertiv Holdings Co., Class A | 0.6% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes short-term securities.</sup> |
| <sup><sup>\*</sup></sup><sup>Ten largest sectors are presented. Additional sectors are found in Other.</sup> |

---

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE International Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2026 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK Retail Logo Footer](g59050images_5742.jpg)

iShares Russell Mid-Cap Index Fund

Institutional Shares \| BRMIX

Semi-Annual Shareholder Report — January 31, 2026

BRMIX-01/26-SAR

![TSR - BLK Retail Logo](g59050images_5743.jpg)

### iShares Russell Mid-Cap Index Fund

### Investor A Shares \| BRMAX

#### Semi-Annual Shareholder Report — January 31, 2026

------

This semi-annual shareholder report contains important information about iShares Russell Mid-Cap Index Fund (the "Fund") for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at **blackrock.com/fundreports**. You can also request this information by contacting us at (800) 441-7762.

#### What were the Fund costs for the last six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| Investor A Shares | $18 | 0.35%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Annualized.</sup>

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2250587957 |
| Number of Portfolio Holdings | &nbsp;&nbsp;812 |
| Portfolio Turnover Rate | &nbsp;&nbsp;4% |

---

#### What did the Fund invest in?
(as of January 31, 2026)

---

| | |
|:---|:---|
| **Sector allocation** | **Sector allocation** |
| *Sector<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Industrials | 18.8% |
| Financials | 14.6% |
| Information Technology | 12.3% |
| Consumer Discretionary | 11.2% |
| Health Care | 9.6% |
| Real Estate | 6.8% |
| Utilities | 5.9% |
| Energy | 5.9% |
| Materials | 5.2% |
| Consumer Staples | 4.7% |
| Other\* | 4.5% |
| Short-Term Securities | 2.2% |
| Liabilities in Excess of Other Assets | (1.7) |

---

---

| | |
|:---|:---|
| **Ten largest holdings** | **Ten largest holdings** |
| *Security<sup>(b)</sup>* | *Percent of<br> Net Assets* |
| iShares Russell Mid-Cap ETF | 0.8% |
| Western Digital Corp. | 0.7% |
| Bank of New York Mellon Corp. | 0.6% |
| Howmet Aerospace, Inc. | 0.6% |
| Royal Caribbean Cruises Ltd. | 0.6% |
| Corning, Inc. | 0.6% |
| Cummins, Inc. | 0.6% |
| Sandisk Corp. | 0.6% |
| Robinhood Markets, Inc., Class A | 0.6% |
| Vertiv Holdings Co., Class A | 0.6% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes short-term securities.</sup> |
| <sup><sup>\*</sup></sup><sup>Ten largest sectors are presented. Additional sectors are found in Other.</sup> |

---

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE International Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2026 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK Retail Logo Footer](g59050images_5742.jpg)

iShares Russell Mid-Cap Index Fund

Investor A Shares \| BRMAX

Semi-Annual Shareholder Report — January 31, 2026

BRMAX-01/26-SAR

![TSR - BLK Retail Logo](g59050images_5743.jpg)

### iShares Russell Mid-Cap Index Fund

### Class K Shares \| BRMKX

#### Semi-Annual Shareholder Report — January 31, 2026

------

This semi-annual shareholder report contains important information about iShares Russell Mid-Cap Index Fund (the "Fund") for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at **blackrock.com/fundreports**. You can also request this information by contacting us at (800) 441-7762.

#### What were the Fund costs for the last six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| Class K Shares | $2 | 0.04%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Annualized.</sup>

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2250587957 |
| Number of Portfolio Holdings | &nbsp;&nbsp;812 |
| Portfolio Turnover Rate | &nbsp;&nbsp;4% |

---

#### What did the Fund invest in?
(as of January 31, 2026)

---

| | |
|:---|:---|
| **Sector allocation** | **Sector allocation** |
| *Sector<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Industrials | 18.8% |
| Financials | 14.6% |
| Information Technology | 12.3% |
| Consumer Discretionary | 11.2% |
| Health Care | 9.6% |
| Real Estate | 6.8% |
| Utilities | 5.9% |
| Energy | 5.9% |
| Materials | 5.2% |
| Consumer Staples | 4.7% |
| Other\* | 4.5% |
| Short-Term Securities | 2.2% |
| Liabilities in Excess of Other Assets | (1.7) |

---

---

| | |
|:---|:---|
| **Ten largest holdings** | **Ten largest holdings** |
| *Security<sup>(b)</sup>* | *Percent of<br> Net Assets* |
| iShares Russell Mid-Cap ETF | 0.8% |
| Western Digital Corp. | 0.7% |
| Bank of New York Mellon Corp. | 0.6% |
| Howmet Aerospace, Inc. | 0.6% |
| Royal Caribbean Cruises Ltd. | 0.6% |
| Corning, Inc. | 0.6% |
| Cummins, Inc. | 0.6% |
| Sandisk Corp. | 0.6% |
| Robinhood Markets, Inc., Class A | 0.6% |
| Vertiv Holdings Co., Class A | 0.6% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes short-term securities.</sup> |
| <sup><sup>\*</sup></sup><sup>Ten largest sectors are presented. Additional sectors are found in Other.</sup> |

---

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE International Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2026 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK Retail Logo Footer](g59050images_5742.jpg)

iShares Russell Mid-Cap Index Fund

Class K Shares \| BRMKX

Semi-Annual Shareholder Report — January 31, 2026

BRMKX-01/26-SAR

![TSR - BLK Retail Logo](g59050images_5743.jpg)

### iShares Russell Small/Mid-Cap Index Fund

### Institutional Shares \| BSMIX

#### Semi-Annual Shareholder Report — January 31, 2026

------

This semi-annual shareholder report contains important information about iShares Russell Small/Mid-Cap Index Fund (the "Fund") for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at **blackrock.com/fundreports**. You can also request this information by contacting us at (800) 441-7762.

#### What were the Fund costs for the last six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| Institutional Shares | $7 | 0.12%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Annualized.</sup>

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1152612280 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2427 |
| Portfolio Turnover Rate | &nbsp;&nbsp;11% |

---

#### What did the Fund invest in?
(as of January 31, 2026)

---

| | |
|:---|:---|
| **Sector allocation** | **Sector allocation** |
| *Sector<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Industrials | 21.4% |
| Financials | 16.0% |
| Information Technology | 14.2% |
| Health Care | 12.5% |
| Consumer Discretionary | 10.4% |
| Real Estate | 6.0% |
| Materials | 5.2% |
| Energy | 4.1% |
| Consumer Staples | 2.9% |
| Utilities | 2.8% |
| Other\* | 3.8% |
| Short-Term Securities | 8.8% |
| Liabilities in Excess of Other Assets | (8.1) |

---

---

| | |
|:---|:---|
| **Ten largest holdings** | **Ten largest holdings** |
| *Security<sup>(b)</sup>* | *Percent of<br> Net Assets* |
| Sandisk Corp. | 1.1% |
| iShares Russell 2000 ETF | 0.7% |
| Comfort Systems USA, Inc. | 0.5% |
| iShares Russell Mid-Cap ETF | 0.5% |
| Ciena Corp. | 0.5% |
| Rocket Lab Corp. | 0.5% |
| Coherent Corp. | 0.5% |
| Insmed, Inc. | 0.5% |
| Bloom Energy Corp., Class A | 0.4% |
| EMCOR Group, Inc. | 0.4% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes short-term securities.</sup> |
| <sup><sup>\*</sup></sup><sup>Ten largest sectors are presented. Additional sectors are found in Other.</sup> |

---

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE International Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2026 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK Retail Logo Footer](g59050images_5742.jpg)

iShares Russell Small/Mid-Cap Index Fund

Institutional Shares \| BSMIX

Semi-Annual Shareholder Report — January 31, 2026

BSMIX-01/26-SAR

![TSR - BLK Retail Logo](g59050images_5743.jpg)

### iShares Russell Small/Mid-Cap Index Fund

### Investor A Shares \| BSMAX

#### Semi-Annual Shareholder Report — January 31, 2026

------

This semi-annual shareholder report contains important information about iShares Russell Small/Mid-Cap Index Fund (the "Fund") for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at **blackrock.com/fundreports**. You can also request this information by contacting us at (800) 441-7762.

#### What were the Fund costs for the last six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| Investor A Shares | $20 | 0.37%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Annualized.</sup>

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1152612280 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2427 |
| Portfolio Turnover Rate | &nbsp;&nbsp;11% |

---

#### What did the Fund invest in?
(as of January 31, 2026)

---

| | |
|:---|:---|
| **Sector allocation** | **Sector allocation** |
| *Sector<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Industrials | 21.4% |
| Financials | 16.0% |
| Information Technology | 14.2% |
| Health Care | 12.5% |
| Consumer Discretionary | 10.4% |
| Real Estate | 6.0% |
| Materials | 5.2% |
| Energy | 4.1% |
| Consumer Staples | 2.9% |
| Utilities | 2.8% |
| Other\* | 3.8% |
| Short-Term Securities | 8.8% |
| Liabilities in Excess of Other Assets | (8.1) |

---

---

| | |
|:---|:---|
| **Ten largest holdings** | **Ten largest holdings** |
| *Security<sup>(b)</sup>* | *Percent of<br> Net Assets* |
| Sandisk Corp. | 1.1% |
| iShares Russell 2000 ETF | 0.7% |
| Comfort Systems USA, Inc. | 0.5% |
| iShares Russell Mid-Cap ETF | 0.5% |
| Ciena Corp. | 0.5% |
| Rocket Lab Corp. | 0.5% |
| Coherent Corp. | 0.5% |
| Insmed, Inc. | 0.5% |
| Bloom Energy Corp., Class A | 0.4% |
| EMCOR Group, Inc. | 0.4% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes short-term securities.</sup> |
| <sup><sup>\*</sup></sup><sup>Ten largest sectors are presented. Additional sectors are found in Other.</sup> |

---

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE International Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2026 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK Retail Logo Footer](g59050images_5742.jpg)

iShares Russell Small/Mid-Cap Index Fund

Investor A Shares \| BSMAX

Semi-Annual Shareholder Report — January 31, 2026

BSMAX-01/26-SAR

![TSR - BLK Retail Logo](g59050images_5743.jpg)

### iShares Russell Small/Mid-Cap Index Fund

### Class K Shares \| BSMKX

#### Semi-Annual Shareholder Report — January 31, 2026

------

This semi-annual shareholder report contains important information about iShares Russell Small/Mid-Cap Index Fund (the "Fund") for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at **blackrock.com/fundreports**. You can also request this information by contacting us at (800) 441-7762.

#### What were the Fund costs for the last six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| Class K Shares | $4 | 0.07%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Annualized.</sup>

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1152612280 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2427 |
| Portfolio Turnover Rate | &nbsp;&nbsp;11% |

---

#### What did the Fund invest in?
(as of January 31, 2026)

---

| | |
|:---|:---|
| **Sector allocation** | **Sector allocation** |
| *Sector<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br>Net Assets* |
| Industrials | 21.4% |
| Financials | 16.0% |
| Information Technology | 14.2% |
| Health Care | 12.5% |
| Consumer Discretionary | 10.4% |
| Real Estate | 6.0% |
| Materials | 5.2% |
| Energy | 4.1% |
| Consumer Staples | 2.9% |
| Utilities | 2.8% |
| Other\* | 3.8% |
| Short-Term Securities | 8.8% |
| Liabilities in Excess of Other Assets | (8.1) |

---

---

| | |
|:---|:---|
| **Ten largest holdings** | **Ten largest holdings** |
| *Security<sup>(b)</sup>* | *Percent of<br>Net Assets* |
| Sandisk Corp. | 1.1% |
| iShares Russell 2000 ETF | 0.7% |
| Comfort Systems USA, Inc. | 0.5% |
| iShares Russell Mid-Cap ETF | 0.5% |
| Ciena Corp. | 0.5% |
| Rocket Lab Corp. | 0.5% |
| Coherent Corp. | 0.5% |
| Insmed, Inc. | 0.5% |
| Bloom Energy Corp., Class A | 0.4% |
| EMCOR Group, Inc. | 0.4% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes short-term securities.</sup> |
| <sup><sup>\*</sup></sup><sup>Ten largest sectors are presented. Additional sectors are found in Other.</sup> |

---

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE International Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2026 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK Retail Logo Footer](g59050images_5742.jpg)

iShares Russell Small/Mid-Cap Index Fund

Class K Shares \| BSMKX

Semi-Annual Shareholder Report — January 31, 2026

BSMKX-01/26-SAR

![TSR - BLK Retail Logo](g59050images_5743.jpg)

### iShares Total U.S. Stock Market Index Fund

### Institutional Shares \| BITSX

#### Semi-Annual Shareholder Report — January 31, 2026

------

This semi-annual shareholder report contains important information about iShares Total U.S. Stock Market Index Fund (the "Fund") for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at **blackrock.com/fundreports**. You can also request this information by contacting us at (800) 441-7762.

#### What were the Fund costs for the last six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| Institutional Shares | $3 | 0.06%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Annualized.</sup>

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$4308894559 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2664 |
| Portfolio Turnover Rate | &nbsp;&nbsp;3% |

---

#### What did the Fund invest in?
(as of January 31, 2026)

---

| | |
|:---|:---|
| **Sector allocation** | **Sector allocation** |
| *Sector<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Information Technology | 30.3% |
| Financials | 13.1% |
| Consumer Discretionary | 10.3% |
| Communication Services | 10.2% |
| Industrials | 9.8% |
| Health Care | 9.8% |
| Consumer Staples | 4.7% |
| Energy | 3.2% |
| Materials | 2.3% |
| Real Estate | 2.2% |
| Other\* | 3.5% |
| Short-Term Securities | 2.0% |
| Liabilities in Excess of Other Assets | (1.4) |

---

---

| | |
|:---|:---|
| **Ten largest holdings** | **Ten largest holdings** |
| *Security<sup>(b)</sup>* | *Percent of<br> Net Assets* |
| NVIDIA Corp. | 6.6% |
| Apple, Inc. | 5.6% |
| Microsoft Corp. | 4.7% |
| Amazon.com, Inc. | 3.4% |
| Alphabet, Inc., Class A | 2.9% |
| Alphabet, Inc., Class C | 2.4% |
| Meta Platforms, Inc., Class A | 2.3% |
| Broadcom, Inc. | 2.2% |
| Tesla, Inc. | 1.8% |
| Berkshire Hathaway, Inc., Class B | 1.3% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes short-term securities.</sup> |
| <sup><sup>\*</sup></sup><sup>Ten largest sectors are presented. Additional sectors are found in Other.</sup> |

---

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.©2026 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK Retail Logo Footer](g59050images_5742.jpg)

iShares Total U.S. Stock Market Index Fund

Institutional Shares \| BITSX

Semi-Annual Shareholder Report — January 31, 2026

BITSX-01/26-SAR

![TSR - BLK Retail Logo](g59050images_5743.jpg)

### iShares Total U.S. Stock Market Index Fund

### Investor A Shares \| BASMX

#### Semi-Annual Shareholder Report — January 31, 2026

------

This semi-annual shareholder report contains important information about iShares Total U.S. Stock Market Index Fund (the "Fund") for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at **blackrock.com/fundreports**. You can also request this information by contacting us at (800) 441-7762.

#### What were the Fund costs for the last six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| Investor A Shares | $17 | 0.33%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Annualized.</sup>

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$4308894559 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2664 |
| Portfolio Turnover Rate | &nbsp;&nbsp;3% |

---

#### What did the Fund invest in?
(as of January 31, 2026)

---

| | |
|:---|:---|
| **Sector allocation** | **Sector allocation** |
| *Sector<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Information Technology | 30.3% |
| Financials | 13.1% |
| Consumer Discretionary | 10.3% |
| Communication Services | 10.2% |
| Industrials | 9.8% |
| Health Care | 9.8% |
| Consumer Staples | 4.7% |
| Energy | 3.2% |
| Materials | 2.3% |
| Real Estate | 2.2% |
| Other\* | 3.5% |
| Short-Term Securities | 2.0% |
| Liabilities in Excess of Other Assets | (1.4) |

---

---

| | |
|:---|:---|
| **Ten largest holdings** | **Ten largest holdings** |
| *Security<sup>(b)</sup>* | *Percent of<br> Net Assets* |
| NVIDIA Corp. | 6.6% |
| Apple, Inc. | 5.6% |
| Microsoft Corp. | 4.7% |
| Amazon.com, Inc. | 3.4% |
| Alphabet, Inc., Class A | 2.9% |
| Alphabet, Inc., Class C | 2.4% |
| Meta Platforms, Inc., Class A | 2.3% |
| Broadcom, Inc. | 2.2% |
| Tesla, Inc. | 1.8% |
| Berkshire Hathaway, Inc., Class B | 1.3% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes short-term securities.</sup> |
| <sup><sup>\*</sup></sup><sup>Ten largest sectors are presented. Additional sectors are found in Other.</sup> |

---

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.©2026 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK Retail Logo Footer](g59050images_5742.jpg)

iShares Total U.S. Stock Market Index Fund

Investor A Shares \| BASMX

Semi-Annual Shareholder Report — January 31, 2026

BASMX-01/26-SAR

![TSR - BLK Retail Logo](g59050images_5743.jpg)

### iShares Total U.S. Stock Market Index Fund

### Class K Shares \| BKTSX

#### Semi-Annual Shareholder Report — January 31, 2026

------

This semi-annual shareholder report contains important information about iShares Total U.S. Stock Market Index Fund (the "Fund") for the period of August 1, 2025 to January 31, 2026. You can find additional information about the Fund at **blackrock.com/fundreports**. You can also request this information by contacting us at (800) 441-7762.

#### What were the Fund costs for the last six months ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class name** | **Costs of a $10,000<br> investment** | **Costs paid as a percentage of a<br> $10,000 investment** |
| Class K Shares | $1 | 0.02%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Annualized.</sup>

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$4308894559 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2664 |
| Portfolio Turnover Rate | &nbsp;&nbsp;3% |

---

#### What did the Fund invest in?
(as of January 31, 2026)

---

| | |
|:---|:---|
| **Sector allocation** | **Sector allocation** |
| *Sector<sup>(a)</sup>* | &nbsp;&nbsp;*Percent of<br> Net Assets* |
| Information Technology | 30.3% |
| Financials | 13.1% |
| Consumer Discretionary | 10.3% |
| Communication Services | 10.2% |
| Industrials | 9.8% |
| Health Care | 9.8% |
| Consumer Staples | 4.7% |
| Energy | 3.2% |
| Materials | 2.3% |
| Real Estate | 2.2% |
| Other\* | 3.5% |
| Short-Term Securities | 2.0% |
| Liabilities in Excess of Other Assets | (1.4) |

---

---

| | |
|:---|:---|
| **Ten largest holdings** | **Ten largest holdings** |
| *Security<sup>(b)</sup>* | *Percent of<br> Net Assets* |
| NVIDIA Corp. | 6.6% |
| Apple, Inc. | 5.6% |
| Microsoft Corp. | 4.7% |
| Amazon.com, Inc. | 3.4% |
| Alphabet, Inc., Class A | 2.9% |
| Alphabet, Inc., Class C | 2.4% |
| Meta Platforms, Inc., Class A | 2.3% |
| Broadcom, Inc. | 2.2% |
| Tesla, Inc. | 1.8% |
| Berkshire Hathaway, Inc., Class B | 1.3% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</sup> |
| <sup><sup>(b)</sup></sup><sup>Excludes short-term securities.</sup> |
| <sup><sup>\*</sup></sup><sup>Ten largest sectors are presented. Additional sectors are found in Other.</sup> |

---

Additional information

If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports**. For proxy voting records, visit **blackrock.com/proxyrecords**.©2026 BlackRock, Inc. or its affiliates. All rights reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK Retail Logo Footer](g59050images_5742.jpg)

iShares Total U.S. Stock Market Index Fund

Class K Shares \| BKTSX

Semi-Annual Shareholder Report — January 31, 2026

BKTSX-01/26-SAR

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not Applicable

Item 2 – Code of Ethics – Not Applicable to this semi-annual report

Item 3 – Audit Committee Financial Expert – Not Applicable to this semi-annual report

Item 4 – Principal Accountant Fees and Services – Not Applicable to this semi-annual report

Item 5 – Audit Committee of Listed Registrant – Not Applicable

Item 6 – Investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's Schedule of Investments is included as part of the Financial Statements and Financial Highlights for Open-End Management Investment Companies filed under Item 7 of this Form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.

Item 7 – Financial Statements and Financial Highlights for Open-End Management Investment Companies

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's Financial Statements are attached herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The registrant's Financial Highlights are attached herewith.

------

![](g59050img0d5db95f1.jpg)

January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp; 2026 Semi-Annual Financial <br> Statements and Additional <br> Information (Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **BlackRock Funds**<sup>SM</sup> |
| • iShares Russell Mid-Cap Index Fund |
| • iShares Russell Small/Mid-Cap Index Fund |
| • iShares Total U.S. Stock Market Index Fund |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

**Table of Contents**

**Page**

------

---

| | |
|:---|:---|
| [Derivative Financial Instruments](#xx_68d41e0d-2b68-46a6-bbe4-f9d13e8f0356_RskDeriv-Footer-FundBookName-797_1)  | 3 |
| [Schedules of Investments](#xx_68d41e0d-2b68-46a6-bbe4-f9d13e8f0356_SOI-Footer-FundBookName-797_1)  | 4 |
| [Statements of Assets and Liabilities](#xx_68d41e0d-2b68-46a6-bbe4-f9d13e8f0356_FS-Footer-FundBookName-797_1)  | 67 |
| [Statements of Operations](#xx_68d41e0d-2b68-46a6-bbe4-f9d13e8f0356_FS-Footer-FundBookName-797_3)  | 69 |
| [Statements of Changes in Net Assets](#xx_68d41e0d-2b68-46a6-bbe4-f9d13e8f0356_FS-Footer-FundBookName-797_4)  | 70 |
| [Financial Highlights](#xx_68d41e0d-2b68-46a6-bbe4-f9d13e8f0356_FIHI-Footer-FundBookName-797_1)  | 72 |
| [Notes to Financial Statements](#xx_68d41e0d-2b68-46a6-bbe4-f9d13e8f0356_NTF-Footer-FundBookName-797_1)  | 81 |
| [Additional Information](#xx_68d41e0d-2b68-46a6-bbe4-f9d13e8f0356_ADDInfo-Footer-FundBookName-797_1)  | 92 |
| [Glossary of Terms Used in these Financial Statements](#xx_68d41e0d-2b68-46a6-bbe4-f9d13e8f0356_Terms-Footer-FundBookName-797_1)  | 94 |

---

------

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. Pursuant to Rule 18f-4 under the 1940 Act, among other things, the Funds must either use derivative financial instruments with embedded leverage in a limited manner or comply with an outer limit on fund leverage risk based on value-at-risk. 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.

------

Schedule of Investments (unaudited)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 3.1%** | **Aerospace & Defense — 3.1%** |  |
| ATI, Inc.<sup>(a)</sup> | 23894 | $2874448 |
| Axon Enterprise, Inc.<sup>(a)</sup> | 12910 | 6243018 |
| BWX Technologies, Inc. | 15723 | 3229976 |
| Carpenter Technology Corp. | 8358 | 2656423 |
| Curtiss-Wright Corp. | 6512 | 4276365 |
| HEICO Corp.<sup>(b)</sup> | 7276 | 2407701 |
| HEICO Corp., Class A | 13020 | 3314762 |
| Hexcel Corp. | 13843 | 1146339 |
| Howmet Aerospace, Inc. | 69400 | 14440752 |
| Huntington Ingalls Industries, Inc. | 6771 | 2847273 |
| Karman Holdings, Inc.<sup>(a)(b)</sup> | 8732 | 906382 |
| L3Harris Technologies, Inc. | 32322 | 11081598 |
| Leonardo DRS, Inc. | 13206 | 542238 |
| Loar Holdings, Inc.<sup>(a)(b)</sup> | 7259 | 497822 |
| Rocket Lab Corp.<sup>(a)</sup> | 71603 | 5733252 |
| StandardAero, Inc.<sup>(a)</sup> | 24623 | 760604 |
| Textron, Inc. | 30449 | 2681339 |
| Woodward, Inc. | 10365 | 3294412 |
|  |  | 68934704 |
| **Air Freight & Logistics — 0.4%** | **Air Freight & Logistics — 0.4%** |  |
| CH Robinson Worldwide, Inc. | 20329 | 3963139 |
| Expeditors International of Washington, Inc. | 23499 | 3772529 |
| GXO Logistics, Inc.<sup>(a)</sup> | 19238 | 1088678 |
|  |  | 8824346 |
| **Automobile Components — 0.3%** | **Automobile Components — 0.3%** |  |
| Aptiv PLC<sup>(a)</sup> | 37235 | 2820551 |
| BorgWarner, Inc. | 37116 | 1759670 |
| Gentex Corp. | 38916 | 895457 |
| Lear Corp. | 8878 | 1039525 |
| QuantumScape Corp., Class A<sup>(a)</sup> | 77793 | 688468 |
|  |  | 7203671 |
| **Automobiles — 0.6%** | **Automobiles — 0.6%** |  |
| Ford Motor Co. | 675647 | 9377980 |
| Harley-Davidson, Inc. | 18771 | 371666 |
| Lucid Group, Inc.<sup>(a)(b)</sup> | 21696 | 240173 |
| Rivian Automotive, Inc., Class A<sup>(a)</sup> | 136092 | 2007357 |
| Thor Industries, Inc. | 8787 | 983002 |
|  |  | 12980178 |
| **Banks — 2.7%** | **Banks — 2.7%** |  |
| Bank OZK | 18388 | 874533 |
| BOK Financial Corp. | 3964 | 515082 |
| Citizens Financial Group, Inc. | 74568 | 4696293 |
| Columbia Banking System, Inc. | 51340 | 1511450 |
| Comerica, Inc. | 21883 | 1940366 |
| Commerce Bancshares, Inc. | 22367 | 1177399 |
| Cullen/Frost Bankers, Inc. | 10383 | 1430985 |
| East West Bancorp, Inc. | 23429 | 2681215 |
| Fifth Third Bancorp | 115246 | 5787654 |
| First Citizens BancShares, Inc., Class A | 1553 | 3214042 |
| First Hawaiian, Inc. | 22038 | 585109 |
| First Horizon Corp. | 85939 | 2104646 |
| FNB Corp. | 60569 | 1062986 |
| Huntington Bancshares, Inc. | 347074 | 6066853 |
| KeyCorp | 164238 | 3534402 |
| M&T Bank Corp. | 26617 | 5897529 |
| Pinnacle Financial Partners, Inc. | 25798 | 2453132 |
| Popular, Inc. | 11418 | 1524645 |
| Prosperity Bancshares, Inc. | 15532 | 1071863 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** |  |
| Regions Financial Corp. | 154005 | $4389142 |
| Southstate Bank Corp. | 17548 | 1795687 |
| TFS Financial Corp. | 9007 | 126773 |
| Webster Financial Corp. | 28681 | 1886349 |
| Western Alliance Bancorp | 18518 | 1650880 |
| Wintrust Financial Corp. | 11526 | 1699970 |
| Zions Bancorp N.A. | 25326 | 1517281 |
|  |  | 61196266 |
| **Beverages — 0.5%** | **Beverages — 0.5%** |  |
| Boston Beer Co., Inc., Class A<sup>(a)</sup> | 1317 | 281338 |
| Brown-Forman Corp., Class A | 7033 | 195728 |
| Brown-Forman Corp., Class B | 25793 | 705954 |
| Celsius Holdings, Inc.<sup>(a)</sup> | 28182 | 1478991 |
| Coca-Cola Consolidated, Inc. | 9731 | 1479696 |
| Constellation Brands, Inc., Class A | 24772 | 3881772 |
| Molson Coors Beverage Co., Class B | 28612 | 1374521 |
| Primo Brands Corp. | 44839 | 849251 |
|  |  | 10247251 |
| **Biotechnology**<sup>(a)</sup> **— 2.3%** | **Biotechnology**<sup>(a)</sup> **— 2.3%** |  |
| Alnylam Pharmaceuticals, Inc. | 21939 | 7416698 |
| Apellis Pharmaceuticals, Inc.<sup>(b)</sup> | 18109 | 408901 |
| Biogen, Inc. | 25161 | 4526212 |
| BioMarin Pharmaceutical, Inc. | 33235 | 1879107 |
| Caris Life Sciences, Inc. | 3910 | 90556 |
| Exact Sciences Corp. | 32238 | 3299237 |
| Exelixis, Inc. | 46170 | 1909591 |
| Halozyme Therapeutics, Inc. | 19928 | 1429037 |
| Incyte Corp. | 27770 | 2778944 |
| Insmed, Inc. | 36252 | 5686851 |
| Ionis Pharmaceuticals, Inc.<sup>(b)</sup> | 27369 | 2262595 |
| Moderna, Inc.<sup>(b)</sup> | 61948 | 2730048 |
| Natera, Inc. | 22471 | 5193947 |
| Neurocrine Biosciences, Inc. | 16601 | 2258732 |
| Revolution Medicines, Inc. | 30268 | 2934483 |
| Roivant Sciences Ltd. | 68067 | 1471609 |
| Sarepta Therapeutics, Inc.<sup>(b)</sup> | 15611 | 317528 |
| Summit Therapeutics, Inc.<sup>(b)</sup> | 20400 | 295392 |
| Ultragenyx Pharmaceutical, Inc. | 15044 | 362109 |
| United Therapeutics Corp. | 7284 | 3419765 |
| Viking Therapeutics, Inc.<sup>(b)</sup> | 19331 | 561372 |
|  |  | 51232714 |
| **Broadline Retail — 0.7%** | **Broadline Retail — 0.7%** |  |
| Coupang, Inc., Class A<sup>(a)</sup> | 224718 | 4530315 |
| Dillard's, Inc., Class A<sup>(b)</sup> | 539 | 327475 |
| eBay, Inc. | 78185 | 7132036 |
| Etsy, Inc.<sup>(a)</sup> | 17127 | 907046 |
| Macy's, Inc. | 46545 | 931831 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> | 10644 | 1174139 |
|  |  | 15002842 |
| **Building Products — 1.0%** | **Building Products — 1.0%** |  |
| A.O. Smith Corp. | 19477 | 1431365 |
| AAON, Inc.<sup>(b)</sup> | 11529 | 1049831 |
| Advanced Drainage Systems, Inc. | 12322 | 1873437 |
| Allegion PLC | 14751 | 2439668 |
| Armstrong World Industries, Inc. | 7502 | 1378417 |
| Builders FirstSource, Inc.<sup>(a)</sup> | 18598 | 2127611 |
| Carlisle Cos., Inc. | 7115 | 2425432 |
| Fortune Brands Innovations, Inc. | 20467 | 1107265 |
| Hayward Holdings, Inc.<sup>(a)(b)</sup> | 34657 | 559364 |
| Lennox International, Inc. | 5444 | 2695215 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Building Products (continued)** | **Building Products (continued)** |  |
| Masco Corp. | 36170 | $2390475 |
| Owens Corning | 14502 | 1737920 |
| Simpson Manufacturing Co., Inc. | 7341 | 1297742 |
| Trex Co., Inc.<sup>(a)</sup> | 18228 | 755004 |
|  |  | 23268746 |
| **Capital Markets — 5.5%** | **Capital Markets — 5.5%** |  |
| Affiliated Managers Group, Inc. | 4731 | 1481229 |
| Ameriprise Financial, Inc. | 16086 | 8480378 |
| Ares Management Corp., Class A | 32565 | 4874004 |
| Bank of New York Mellon Corp. | 120759 | 14481419 |
| Blue Owl Capital, Inc., Class A | 109870 | 1498627 |
| Bullish<sup>(a)(b)</sup> | 5680 | 171536 |
| Carlyle Group, Inc. | 44832 | 2635225 |
| Cboe Global Markets, Inc. | 18132 | 4806068 |
| Coinbase Global, Inc., Class A<sup>(a)</sup> | 38568 | 7510732 |
| Evercore, Inc., Class A | 6316 | 2231253 |
| FactSet Research Systems, Inc. | 6568 | 1670636 |
| Franklin Resources, Inc. | 53075 | 1412856 |
| Freedom Holding Corp.<sup>(a)(b)</sup> | 3081 | 381120 |
| Hamilton Lane, Inc., Class A | 6978 | 985573 |
| Houlihan Lokey, Inc., Class A | 9478 | 1595337 |
| Invesco Ltd. | 63555 | 1734416 |
| Janus Henderson Group PLC | 21049 | 1013088 |
| Jefferies Financial Group, Inc. | 26827 | 1641276 |
| Lazard, Inc. | 16061 | 862797 |
| LPL Financial Holdings, Inc. | 13791 | 5026819 |
| MarketAxess Holdings, Inc. | 6133 | 1037888 |
| Morningstar, Inc. | 3923 | 792799 |
| MSCI, Inc., Class A | 12603 | 7678000 |
| Nasdaq, Inc. | 78368 | 7593076 |
| Northern Trust Corp. | 32584 | 4869027 |
| Raymond James Financial, Inc. | 30895 | 5124245 |
| Robinhood Markets, Inc., Class A<sup>(a)</sup> | 128089 | 12742294 |
| SEI Investments Co. | 18166 | 1595883 |
| State Street Corp. | 48522 | 6349589 |
| Stifel Financial Corp. | 17323 | 2135926 |
| T. Rowe Price Group, Inc. | 37477 | 3960569 |
| TPG, Inc., Class A | 22612 | 1332073 |
| Tradeweb Markets, Inc., Class A | 20046 | 2066141 |
| Virtu Financial, Inc., Class A | 13063 | 542245 |
| XP, Inc., Class A | 67939 | 1325490 |
|  |  | 123639634 |
| **Chemicals — 1.9%** | **Chemicals — 1.9%** |  |
| Albemarle Corp. | 20500 | 3497915 |
| Ashland, Inc. | 7634 | 466895 |
| Axalta Coating Systems Ltd.<sup>(a)</sup> | 36583 | 1228457 |
| Celanese Corp., Class A | 18969 | 842982 |
| CF Industries Holdings, Inc. | 28159 | 2625264 |
| Corteva, Inc. | 118401 | 8619593 |
| Dow, Inc. | 122921 | 3386474 |
| DuPont de Nemours, Inc. | 71757 | 3151567 |
| Eastman Chemical Co. | 19916 | 1380577 |
| Element Solutions, Inc. | 38110 | 1109001 |
| FMC Corp. | 21204 | 335023 |
| Huntsman Corp. | 28551 | 308922 |
| International Flavors & Fragrances, Inc. | 44163 | 3083019 |
| LyondellBasell Industries NV, Class A | 44487 | 2179863 |
| Mosaic Co. | 55616 | 1529440 |
| NewMarket Corp. | 964 | 646642 |
| Olin Corp. | 19951 | 415180 |
| PPG Industries, Inc. | 38960 | 4504945 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** |  |
| RPM International, Inc. | 21980 | $2350981 |
| Scotts Miracle-Gro Co. | 7339 | 471311 |
| Westlake Corp. | 5710 | 452917 |
|  |  | 42586968 |
| **Commercial Services & Supplies — 0.7%** | **Commercial Services & Supplies — 0.7%** |  |
| Clean Harbors, Inc.<sup>(a)</sup> | 8747 | 2273433 |
| MSA Safety, Inc. | 6390 | 1131988 |
| RB Global, Inc. | 32182 | 3654910 |
| Rollins, Inc. | 48258 | 3056662 |
| Tetra Tech, Inc. | 46225 | 1740833 |
| Veralto Corp. | 41311 | 4088963 |
|  |  | 15946789 |
| **Communications Equipment — 0.6%** | **Communications Equipment — 0.6%** |  |
| Ciena Corp.<sup>(a)</sup> | 24413 | 6147438 |
| F5, Inc.<sup>(a)(b)</sup> | 9947 | 2741493 |
| Lumentum Holdings, Inc.<sup>(a)</sup> | 12228 | 4791419 |
| Ubiquiti, Inc. | 720 | 397022 |
|  |  | 14077372 |
| **Construction & Engineering — 1.5%** | **Construction & Engineering — 1.5%** |  |
| AECOM | 22684 | 2187418 |
| API Group Corp.<sup>(a)</sup> | 64180 | 2667963 |
| Comfort Systems USA, Inc. | 6020 | 6875442 |
| EMCOR Group, Inc. | 7655 | 5517188 |
| Everus Construction Group, Inc.<sup>(a)</sup> | 8646 | 765085 |
| MasTec, Inc.<sup>(a)</sup> | 10803 | 2597905 |
| Quanta Services, Inc. | 25488 | 12097370 |
| Valmont Industries, Inc. | 3422 | 1524706 |
| WillScot Holdings Corp., Class A | 30944 | 619808 |
|  |  | 34852885 |
| **Construction Materials — 0.7%** | **Construction Materials — 0.7%** |  |
| Eagle Materials, Inc.<sup>(b)</sup> | 5509 | 1122790 |
| James Hardie Industries PLC<sup>(a)(b)</sup> | 25278 | 581141 |
| Martin Marietta Materials, Inc. | 10379 | 6766589 |
| Vulcan Materials Co. | 22880 | 6876355 |
|  |  | 15346875 |
| **Consumer Finance — 0.6%** | **Consumer Finance — 0.6%** |  |
| Ally Financial, Inc. | 48258 | 2040348 |
| Credit Acceptance Corp.<sup>(a)(b)</sup> | 780 | 388627 |
| Figure Technology Solutions, Inc., Class A<sup>(a)(b)</sup> | 5964 | 339233 |
| OneMain Holdings, Inc. | 20800 | 1363232 |
| SLM Corp. | 35858 | 973545 |
| SoFi Technologies, Inc.<sup>(a)</sup> | 209988 | 4789826 |
| Synchrony Financial | 62411 | 4532911 |
|  |  | 14427722 |
| **Consumer Staples Distribution & Retail — 1.7%** | **Consumer Staples Distribution & Retail — 1.7%** |  |
| Albertsons Cos., Inc., Class A | 69034 | 1149416 |
| BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> | 22331 | 2064278 |
| Casey's General Stores, Inc. | 6391 | 3876141 |
| Dollar General Corp. | 38016 | 5452635 |
| Dollar Tree, Inc.<sup>(a)</sup> | 33788 | 3973131 |
| Kroger Co. | 104954 | 6596359 |
| Maplebear, Inc.<sup>(a)</sup> | 30093 | 1118256 |
| Performance Food Group Co.<sup>(a)</sup> | 26449 | 2524557 |
| Sprouts Farmers Market, Inc.<sup>(a)</sup> | 16738 | 1186891 |
| Sysco Corp. | 83176 | 6974308 |
| U.S. Foods Holding Corp.<sup>(a)</sup> | 39363 | 3291534 |
|  |  | 38207506 |
| **Containers & Packaging — 1.2%** | **Containers & Packaging — 1.2%** |  |
| Amcor PLC | 79777 | 3530132 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Containers & Packaging (continued)** | **Containers & Packaging (continued)** |  |
| AptarGroup, Inc. | 11184 | $1397441 |
| Avery Dennison Corp. | 13334 | 2473590 |
| Ball Corp. | 47559 | 2704680 |
| Crown Holdings, Inc. | 20143 | 2108569 |
| Graphic Packaging Holding Co. | 51256 | 750901 |
| International Paper Co. | 90885 | 3664483 |
| Packaging Corp. of America | 15311 | 3407463 |
| Sealed Air Corp. | 25237 | 1056926 |
| Silgan Holdings, Inc. | 15430 | 665805 |
| Smurfit WestRock PLC | 89310 | 3717975 |
| Sonoco Products Co. | 16675 | 800400 |
|  |  | 26278365 |
| **Distributors — 0.3%** | **Distributors — 0.3%** |  |
| Genuine Parts Co. | 24041 | 3341459 |
| LKQ Corp. | 44780 | 1471023 |
| Pool Corp. | 5666 | 1439674 |
|  |  | 6252156 |
| **Diversified Consumer Services — 0.3%** | **Diversified Consumer Services — 0.3%** |  |
| ADT, Inc. | 89123 | 712984 |
| Bright Horizons Family Solutions, Inc.<sup>(a)</sup> | 9967 | 923243 |
| Duolingo, Inc., Class A<sup>(a)</sup> | 6508 | 872463 |
| Grand Canyon Education, Inc.<sup>(a)</sup> | 4687 | 814788 |
| H&R Block, Inc. | 22731 | 896738 |
| Liberty Live Holdings, Inc., Class A<sup>(a)</sup> | 3350 | 269474 |
| Liberty Live Holdings, Inc., Class C<sup>(a)</sup> | 7933 | 655107 |
| Service Corp. International | 23739 | 1909328 |
|  |  | 7054125 |
| **Diversified REITs — 0.1%** | **Diversified REITs — 0.1%** |  |
| WP Carey, Inc. | 37419 | 2609975 |
| **Diversified Telecommunication Services — 0.2%** | **Diversified Telecommunication Services — 0.2%** |  |
| AST SpaceMobile, Inc., Class A<sup>(a)(b)</sup> | 37802 | 4203960 |
| ESC GCI Liberty, Inc.<sup>(c)</sup> | 15053 |  |
| GCI Liberty, Inc., Class C<sup>(a)</sup> | 5411 | 200153 |
| Iridium Communications, Inc. | 15955 | 317824 |
| Liberty Global Ltd., Class A<sup>(a)</sup> | 28602 | 317196 |
| Liberty Global Ltd., Class C<sup>(a)</sup> | 22635 | 250796 |
|  |  | 5289929 |
| **Electric Utilities — 2.8%** | **Electric Utilities — 2.8%** |  |
| Alliant Energy Corp. | 44251 | 2916583 |
| Edison International | 65705 | 4092107 |
| Entergy Corp. | 77280 | 7410379 |
| Evergy, Inc. | 39457 | 3027536 |
| Eversource Energy | 64284 | 4443953 |
| Exelon Corp. | 174942 | 7833903 |
| FirstEnergy Corp. | 95041 | 4499241 |
| IDACORP, Inc. | 9175 | 1218348 |
| NRG Energy, Inc. | 32613 | 4977722 |
| OGE Energy Corp. | 35083 | 1532425 |
| PG&E Corp. | 379445 | 5851042 |
| Pinnacle West Capital Corp. | 20798 | 1945861 |
| PPL Corp. | 128146 | 4645293 |
| Xcel Energy, Inc. | 102430 | 7790826 |
|  |  | 62185219 |
| **Electrical Equipment — 1.9%** | **Electrical Equipment — 1.9%** |  |
| Acuity, Inc. | 5405 | 1671442 |
| AMETEK, Inc. | 39872 | 8930531 |
| Generac Holdings, Inc.<sup>(a)</sup> | 9962 | 1674014 |
| Hubbell, Inc. | 9259 | 4517836 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Electrical Equipment (continued)** | **Electrical Equipment (continued)** |  |
| nVent Electric PLC | 27922 | $3134524 |
| Regal Rexnord Corp. | 11478 | 1853697 |
| Rockwell Automation, Inc. | 19584 | 8257594 |
| Sensata Technologies Holding PLC | 24624 | 851744 |
| Vertiv Holdings Co., Class A | 65844 | 12258836 |
|  |  | 43150218 |
| **Electronic Equipment, Instruments & Components — 2.4%** | **Electronic Equipment, Instruments & Components — 2.4%** |  |
| Arrow Electronics, Inc.<sup>(a)</sup> | 8981 | 1189893 |
| Avnet, Inc. | 14086 | 878825 |
| CDW Corp. | 22552 | 2850347 |
| Cognex Corp. | 29271 | 1133958 |
| Coherent Corp.<sup>(a)</sup> | 26887 | 5704884 |
| Corning, Inc. | 135127 | 13951863 |
| Crane NXT Co. | 8473 | 428056 |
| Flex Ltd.<sup>(a)</sup> | 64016 | 4035569 |
| Ingram Micro Holding Corp. | 2383 | 50329 |
| IPG Photonics Corp.<sup>(a)</sup> | 4541 | 419634 |
| Jabil, Inc. | 18262 | 4331564 |
| Keysight Technologies, Inc.<sup>(a)</sup> | 29779 | 6442091 |
| Littelfuse, Inc. | 4198 | 1359144 |
| Ralliant Corp. | 19815 | 1049601 |
| TD SYNNEX Corp. | 13254 | 2103012 |
| Teledyne Technologies, Inc.<sup>(a)</sup> | 8049 | 4992795 |
| Vontier Corp. | 24743 | 927862 |
| Zebra Technologies Corp., Class A<sup>(a)</sup> | 8707 | 2045971 |
|  |  | 53895398 |
| **Energy Equipment & Services — 0.9%** | **Energy Equipment & Services — 0.9%** |  |
| Baker Hughes Co., Class A | 171641 | 9618761 |
| Halliburton Co. | 146963 | 4926200 |
| NOV, Inc. | 63645 | 1167886 |
| TechnipFMC PLC | 69809 | 3889757 |
| Weatherford International PLC | 12485 | 1174589 |
|  |  | 20777193 |
| **Entertainment — 2.1%** | **Entertainment — 2.1%** |  |
| Electronic Arts, Inc. | 43522 | 8875006 |
| Liberty Media Corp.-Liberty Formula One, Class A<sup>(a)</sup> | 3935 | 313580 |
| Liberty Media Corp.-Liberty Formula One, Class C<sup>(a)</sup> | 36217 | 3151603 |
| Live Nation Entertainment, Inc.<sup>(a)(b)</sup> | 27440 | 3991148 |
| Madison Square Garden Sports Corp., Class A<sup>(a)</sup> | 2811 | 797059 |
| ROBLOX Corp., Class A<sup>(a)</sup> | 107346 | 7059073 |
| Roku, Inc., Class A<sup>(a)</sup> | 22086 | 2102587 |
| Take-Two Interactive Software, Inc.<sup>(a)</sup> | 31529 | 6945839 |
| TKO Group Holdings, Inc., Class A | 12001 | 2431163 |
| Warner Bros Discovery, Inc., Class A<sup>(a)</sup> | 403100 | 11101374 |
|  |  | 46768432 |
| **Financial Services — 1.6%** | **Financial Services — 1.6%** |  |
| Affirm Holdings, Inc., Class A<sup>(a)</sup> | 47569 | 2868411 |
| Block, Inc., Class A<sup>(a)</sup> | 93354 | 5641382 |
| Corpay, Inc.<sup>(a)</sup> | 11788 | 3708858 |
| Equitable Holdings, Inc. | 50144 | 2326682 |
| Euronet Worldwide, Inc.<sup>(a)</sup> | 6793 | 492221 |
| Fidelity National Information Services, Inc. | 91134 | 5035153 |
| Global Payments, Inc. | 41854 | 3002606 |
| Jack Henry & Associates, Inc. | 12633 | 2263960 |
| MGIC Investment Corp. | 39991 | 1076558 |
| Rocket Cos., Inc., Class A | 162942 | 2921550 |
| Shift4 Payments, Inc., Class A<sup>(a)(b)</sup> | 11784 | 695727 |
| Toast, Inc., Class A<sup>(a)</sup> | 80162 | 2493840 |
| UWM Holdings Corp., Class A | 35215 | 172906 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Financial Services (continued)** | **Financial Services (continued)** |  |
| Voya Financial, Inc. | 16968 | $1300767 |
| Western Union Co. | 45987 | 430898 |
| WEX, Inc.<sup>(a)</sup> | 5928 | 912319 |
|  |  | 35343838 |
| **Food Products — 1.7%** | **Food Products — 1.7%** |  |
| Archer-Daniels-Midland Co. | 82724 | 5568152 |
| Bunge Global SA | 23090 | 2629489 |
| Conagra Brands, Inc. | 82296 | 1523299 |
| Darling Ingredients, Inc.<sup>(a)</sup> | 27230 | 1243322 |
| Flowers Foods, Inc. | 32130 | 367246 |
| Freshpet, Inc.<sup>(a)</sup> | 7926 | 552442 |
| General Mills, Inc. | 92615 | 4284370 |
| Hershey Co. | 25213 | 4910232 |
| Hormel Foods Corp. | 50027 | 1231165 |
| Ingredion, Inc. | 10947 | 1292841 |
| J.M. Smucker Co. | 18136 | 1901741 |
| Kraft Heinz Co. | 148235 | 3519099 |
| Lamb Weston Holdings, Inc. | 23054 | 1058870 |
| McCormick & Co., Inc. | 43404 | 2683669 |
| Pilgrim's Pride Corp. | 7217 | 313001 |
| Post Holdings, Inc.<sup>(a)</sup> | 8525 | 872193 |
| Seaboard Corp. | 45 | 228703 |
| Smithfield Foods, Inc. | 7818 | 186850 |
| The Campbell's Co. | 33186 | 928544 |
| Tyson Foods, Inc., Class A | 48525 | 3170138 |
|  |  | 38465366 |
| **Gas Utilities — 0.4%** | **Gas Utilities — 0.4%** |  |
| Atmos Energy Corp. | 27698 | 4607285 |
| MDU Resources Group, Inc. | 34586 | 709359 |
| National Fuel Gas Co. | 15662 | 1311693 |
| UGI Corp. | 37491 | 1503764 |
|  |  | 8132101 |
| **Ground Transportation — 0.8%** | **Ground Transportation — 0.8%** |  |
| Avis Budget Group, Inc.<sup>(a)(b)</sup> | 2942 | 338301 |
| JB Hunt Transport Services, Inc. | 13351 | 2706515 |
| Knight-Swift Transportation Holdings, Inc. | 27066 | 1491337 |
| Landstar System, Inc. | 5997 | 895712 |
| Lyft, Inc., Class A<sup>(a)</sup> | 66006 | 1113521 |
| Old Dominion Freight Line, Inc. | 32252 | 5586046 |
| Ryder System, Inc. | 6803 | 1301278 |
| Saia, Inc.<sup>(a)</sup> | 4654 | 1558485 |
| Schneider National, Inc., Class B | 7892 | 211821 |
| U-Haul Holding Co.<sup>(a)(b)</sup> | 1346 | 76116 |
| U-Haul Holding Co., Series N | 17403 | 892948 |
| XPO, Inc.<sup>(a)</sup> | 19741 | 2923839 |
|  |  | 19095919 |
| **Health Care Equipment & Supplies — 2.5%** | **Health Care Equipment & Supplies — 2.5%** |  |
| Align Technology, Inc.<sup>(a)</sup> | 11971 | 1951632 |
| Baxter International, Inc. | 89821 | 1802708 |
| Cooper Cos., Inc.<sup>(a)</sup> | 34146 | 2778802 |
| Dentsply Sirona, Inc. | 34377 | 428681 |
| Dexcom, Inc.<sup>(a)</sup> | 67683 | 4943566 |
| Envista Holdings Corp.<sup>(a)</sup> | 29692 | 696871 |
| GE HealthCare Technologies, Inc.<sup>(a)</sup> | 79217 | 6255767 |
| Globus Medical, Inc., Class A<sup>(a)</sup> | 19338 | 1753570 |
| Hologic, Inc.<sup>(a)</sup> | 38239 | 2865248 |
| IDEXX Laboratories, Inc.<sup>(a)</sup> | 13788 | 9244303 |
| Inspire Medical Systems, Inc.<sup>(a)</sup> | 4648 | 352225 |
| Insulet Corp.<sup>(a)</sup> | 12179 | 3115510 |
| Masimo Corp.<sup>(a)</sup> | 7871 | 1080924 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** |  |
| Penumbra, Inc.<sup>(a)</sup> | 6532 | $2339566 |
| ResMed, Inc. | 25267 | 6526719 |
| Solventum Corp.<sup>(a)</sup> | 25764 | 1983055 |
| STERIS PLC | 16788 | 4408529 |
| Teleflex, Inc. | 7570 | 790081 |
| Zimmer Biomet Holdings, Inc. | 34214 | 2979013 |
|  |  | 56296770 |
| **Health Care Providers & Services — 2.1%** | **Health Care Providers & Services — 2.1%** |  |
| Acadia Healthcare Co., Inc.<sup>(a)</sup> | 15492 | 208212 |
| Cardinal Health, Inc. | 41300 | 8874544 |
| Cencora, Inc. | 31690 | 11383682 |
| Centene Corp.<sup>(a)</sup> | 84970 | 3680900 |
| Chemed Corp. | 2461 | 1051192 |
| DaVita, Inc.<sup>(a)</sup> | 6348 | 694090 |
| Encompass Health Corp. | 17066 | 1613249 |
| Henry Schein, Inc.<sup>(a)</sup> | 18495 | 1396003 |
| Humana, Inc. | 20891 | 4077923 |
| Labcorp Holdings, Inc. | 14494 | 3935411 |
| Molina Healthcare, Inc.<sup>(a)</sup> | 8735 | 1568719 |
| Quest Diagnostics, Inc. | 19348 | 3618656 |
| Tenet Healthcare Corp.<sup>(a)</sup> | 14932 | 2826329 |
| Universal Health Services, Inc., Class B | 9314 | 1874536 |
|  |  | 46803446 |
| **Health Care REITs — 0.6%** | **Health Care REITs — 0.6%** |  |
| Alexandria Real Estate Equities, Inc. | 29700 | 1622808 |
| Healthcare Realty Trust, Inc. | 57290 | 961899 |
| Healthpeak Properties, Inc. | 119850 | 2066214 |
| Medical Properties Trust, Inc. | 85515 | 429286 |
| Omega Healthcare Investors, Inc. | 51058 | 2240425 |
| Ventas, Inc. | 81036 | 6294066 |
|  |  | 13614698 |
| **Health Care Technology**<sup>(a)</sup> **— 0.3%** | **Health Care Technology**<sup>(a)</sup> **— 0.3%** |  |
| Certara, Inc.<sup>(b)</sup> | 21635 | 190172 |
| Doximity, Inc., Class A | 22804 | 854466 |
| Veeva Systems, Inc., Class A | 25547 | 5209544 |
|  |  | 6254182 |
| **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** |  |
| Host Hotels & Resorts, Inc. | 117551 | 2178220 |
| Park Hotels & Resorts, Inc. | 32695 | 357356 |
|  |  | 2535576 |
| **Hotels, Restaurants & Leisure — 3.8%** | **Hotels, Restaurants & Leisure — 3.8%** |  |
| Aramark | 45684 | 1758377 |
| Boyd Gaming Corp. | 9856 | 833226 |
| Caesars Entertainment, Inc.<sup>(a)</sup> | 34944 | 723341 |
| Carnival Corp.<sup>(a)</sup> | 187064 | 5615661 |
| Cava Group, Inc.<sup>(a)</sup> | 17427 | 1056425 |
| Choice Hotels International, Inc.<sup>(b)</sup> | 4749 | 488197 |
| Churchill Downs, Inc. | 11443 | 1125534 |
| Darden Restaurants, Inc. | 20221 | 4031056 |
| Domino's Pizza, Inc. | 5449 | 2235888 |
| DraftKings, Inc., Class A<sup>(a)</sup> | 82386 | 2266439 |
| Dutch Bros, Inc., Class A<sup>(a)</sup> | 20198 | 1098569 |
| Expedia Group, Inc. | 20282 | 5371485 |
| Flutter Entertainment PLC<sup>(a)(b)</sup> | 27348 | 4516522 |
| Hilton Worldwide Holdings, Inc. | 39474 | 11783384 |
| Hyatt Hotels Corp., Class A<sup>(b)</sup> | 7077 | 1106631 |
| Las Vegas Sands Corp. | 53339 | 2812566 |
| MGM Resorts International<sup>(a)</sup> | 35860 | 1202744 |
| Norwegian Cruise Line Holdings Ltd.<sup>(a)</sup> | 78049 | 1713956 |
| Penn Entertainment, Inc.<sup>(a)(b)</sup> | 25830 | 331657 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |  |
| Planet Fitness, Inc., Class A<sup>(a)</sup> | 14650 | $1333736 |
| Restaurant Brands International, Inc. | 55464 | 3715533 |
| Royal Caribbean Cruises Ltd. | 43850 | 14235903 |
| Texas Roadhouse, Inc. | 11514 | 2070908 |
| Travel & Leisure Co. | 10527 | 732048 |
| Vail Resorts, Inc. | 6147 | 817981 |
| Viking Holdings Ltd.<sup>(a)(b)</sup> | 30385 | 2192278 |
| Wendy's Co. | 29374 | 228823 |
| Wingstop, Inc. | 4761 | 1263712 |
| Wyndham Hotels & Resorts, Inc. | 12973 | 944305 |
| Wynn Resorts Ltd. | 13102 | 1407810 |
| Yum! Brands, Inc. | 48242 | 7501631 |
|  |  | 86516326 |
| **Household Durables — 1.6%** | **Household Durables — 1.6%** |  |
| D.R. Horton, Inc. | 45648 | 6794248 |
| Garmin Ltd. | 27939 | 5633620 |
| Lennar Corp., B Shares | 1870 | 189356 |
| Lennar Corp., Class A | 35607 | 3893625 |
| Mohawk Industries, Inc.<sup>(a)</sup> | 8752 | 1036062 |
| Newell Brands, Inc. | 71588 | 304249 |
| NVR, Inc.<sup>(a)</sup> | 469 | 3581157 |
| PulteGroup, Inc. | 33703 | 4215908 |
| SharkNinja, Inc.<sup>(a)</sup> | 14458 | 1708936 |
| Somnigroup International, Inc. | 35143 | 3087313 |
| Toll Brothers, Inc. | 16744 | 2419341 |
| TopBuild Corp.<sup>(a)</sup> | 4885 | 2286424 |
| Whirlpool Corp. | 9010 | 720710 |
|  |  | 35870949 |
| **Household Products — 0.3%** | **Household Products — 0.3%** |  |
| Church & Dwight Co., Inc. | 42221 | 4063771 |
| Clorox Co. | 21086 | 2378290 |
| Reynolds Consumer Products, Inc. | 9388 | 217520 |
|  |  | 6659581 |
| **Independent Power and Renewable Electricity Producers — 0.7%** | **Independent Power and Renewable Electricity Producers — 0.7%** |  |
| AES Corp. | 123945 | 1815794 |
| Brookfield Renewable Corp. | 23194 | 965798 |
| Clearway Energy, Inc., Class A | 5751 | 194211 |
| Clearway Energy, Inc., Class C | 13950 | 504293 |
| Talen Energy Corp.<sup>(a)</sup> | 7885 | 2746819 |
| Vistra Corp. | 58552 | 9271709 |
|  |  | 15498624 |
| **Industrial REITs — 0.3%** | **Industrial REITs — 0.3%** |  |
| Americold Realty Trust, Inc. | 48388 | 600495 |
| EastGroup Properties, Inc. | 9104 | 1653651 |
| First Industrial Realty Trust, Inc. | 21939 | 1273120 |
| Lineage, Inc. | 12335 | 440483 |
| Rexford Industrial Realty, Inc. | 41389 | 1677496 |
| STAG Industrial, Inc. | 32605 | 1223013 |
|  |  | 6868258 |
| **Insurance — 3.9%** | **Insurance — 3.9%** |  |
| Allstate Corp. | 45671 | 9088072 |
| American Financial Group, Inc. | 11544 | 1503837 |
| Arch Capital Group Ltd.<sup>(a)</sup> | 61266 | 5883987 |
| Assurant, Inc. | 8878 | 2114118 |
| Assured Guaranty Ltd. | 7521 | 638157 |
| Axis Capital Holdings Ltd. | 12898 | 1330816 |
| Brighthouse Financial, Inc.<sup>(a)</sup> | 9796 | 627532 |
| Brown & Brown, Inc. | 49602 | 3576304 |
| Cincinnati Financial Corp. | 26684 | 4293189 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** |  |
| CNA Financial Corp. | 3835 | $183543 |
| Everest Group Ltd. | 7199 | 2384885 |
| Fidelity National Financial, Inc., Class A | 44814 | 2437433 |
| First American Financial Corp. | 16337 | 1032172 |
| Globe Life, Inc. | 14194 | 1990283 |
| Hanover Insurance Group, Inc. | 6174 | 1075140 |
| Hartford Insurance Group, Inc. | 48617 | 6566212 |
| Kemper Corp. | 10480 | 413017 |
| Kinsale Capital Group, Inc. | 3803 | 1505532 |
| Lincoln National Corp. | 27746 | 1154511 |
| Loews Corp. | 29290 | 3092145 |
| Markel Group, Inc.<sup>(a)</sup> | 2158 | 4403701 |
| Old Republic International Corp. | 39175 | 1534485 |
| Primerica, Inc. | 5770 | 1517741 |
| Principal Financial Group, Inc. | 38070 | 3605990 |
| Prudential Financial, Inc. | 60795 | 6754932 |
| Reinsurance Group of America, Inc. | 11285 | 2288034 |
| RenaissanceRe Holdings Ltd. | 7765 | 2187400 |
| RLI Corp. | 14334 | 837536 |
| Ryan Specialty Holdings, Inc., Class A | 18335 | 885214 |
| Unum Group | 28948 | 2199179 |
| W.R. Berkley Corp. | 50403 | 3456638 |
| White Mountains Insurance Group Ltd. | 432 | 883410 |
| Willis Towers Watson PLC | 16439 | 5218889 |
|  |  | 86664034 |
| **Interactive Media & Services — 0.4%** | **Interactive Media & Services — 0.4%** |  |
| IAC, Inc.<sup>(a)</sup> | 11515 | 425479 |
| Match Group, Inc. | 41902 | 1305247 |
| Pinterest, Inc., Class A<sup>(a)</sup> | 101258 | 2240840 |
| Reddit, Inc., Class A<sup>(a)</sup> | 21532 | 3881574 |
| Trump Media & Technology Group Corp., Class A<sup>(a)(b)</sup> | 28003 | 357878 |
| ZoomInfo Technologies, Inc., Class A<sup>(a)</sup> | 49506 | 398523 |
|  |  | 8609541 |
| **IT Services — 1.9%** | **IT Services — 1.9%** |  |
| Akamai Technologies, Inc.<sup>(a)</sup> | 24597 | 2389598 |
| Amdocs Ltd. | 19170 | 1570790 |
| Cloudflare, Inc., Class A<sup>(a)</sup> | 54257 | 9622479 |
| Cognizant Technology Solutions Corp., Class A | 83032 | 6813606 |
| DXC Technology Co.<sup>(a)</sup> | 31076 | 448427 |
| EPAM Systems, Inc.<sup>(a)</sup> | 9455 | 1972313 |
| Gartner, Inc.<sup>(a)</sup> | 12843 | 2692021 |
| Globant SA<sup>(a)(b)</sup> | 7162 | 478994 |
| GoDaddy, Inc., Class A<sup>(a)</sup> | 23563 | 2368553 |
| Kyndryl Holdings, Inc.<sup>(a)</sup> | 39022 | 897506 |
| MongoDB, Inc., Class A<sup>(a)</sup> | 13649 | 5068283 |
| Okta, Inc., Class A<sup>(a)</sup> | 28964 | 2446879 |
| Twilio, Inc., Class A<sup>(a)(b)</sup> | 24239 | 2919830 |
| VeriSign, Inc. | 14452 | 3529612 |
|  |  | 43218891 |
| **Leisure Products — 0.2%** | **Leisure Products — 0.2%** |  |
| Brunswick Corp. | 11206 | 898945 |
| Hasbro, Inc. | 22658 | 2023586 |
| Mattel, Inc.<sup>(a)</sup> | 55042 | 1149828 |
| YETI Holdings, Inc.<sup>(a)</sup> | 14554 | 665263 |
|  |  | 4737622 |
| **Life Sciences Tools & Services — 2.0%** | **Life Sciences Tools & Services — 2.0%** |  |
| Agilent Technologies, Inc. | 49316 | 6600947 |
| Avantor, Inc.<sup>(a)</sup> | 113248 | 1236668 |
| Bio-Rad Laboratories, Inc., Class A<sup>(a)</sup> | 3166 | 929854 |
| Bio-Techne Corp. | 27265 | 1747414 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Life Sciences Tools & Services (continued)** | **Life Sciences Tools & Services (continued)** |  |
| Bruker Corp. | 17358 | $768786 |
| Charles River Laboratories International, Inc.<sup>(a)</sup> | 8565 | 1802761 |
| Illumina, Inc.<sup>(a)</sup> | 26388 | 3821246 |
| IQVIA Holdings, Inc.<sup>(a)</sup> | 29235 | 6728435 |
| Medpace Holdings, Inc.<sup>(a)</sup> | 3827 | 2229151 |
| Mettler-Toledo International, Inc.<sup>(a)</sup> | 3566 | 4896974 |
| Qiagen NV | 34707 | 1862725 |
| Repligen Corp.<sup>(a)</sup> | 9030 | 1348811 |
| Revvity, Inc. | 20204 | 2198195 |
| Sotera Health Co.<sup>(a)</sup> | 35100 | 636012 |
| Tempus AI, Inc., Class A<sup>(a)</sup> | 16499 | 986970 |
| Waters Corp.<sup>(a)(b)</sup> | 10324 | 3827314 |
| West Pharmaceutical Services, Inc. | 12434 | 2873746 |
|  |  | 44496009 |
| **Machinery — 4.0%** | **Machinery — 4.0%** |  |
| AGCO Corp. | 10598 | 1201919 |
| Allison Transmission Holdings, Inc. | 14394 | 1564628 |
| CNH Industrial NV | 150433 | 1618659 |
| Crane Co. | 8592 | 1569243 |
| Cummins, Inc. | 23819 | 13786914 |
| Donaldson Co., Inc. | 20353 | 2074785 |
| Dover Corp. | 23467 | 4728366 |
| Esab Corp. | 9788 | 1185327 |
| Flowserve Corp. | 22020 | 1720863 |
| Fortive Corp. | 54491 | 2877670 |
| Gates Industrial Corp. PLC<sup>(a)</sup> | 44283 | 1019395 |
| Graco, Inc. | 28927 | 2526195 |
| IDEX Corp. | 13082 | 2597431 |
| Ingersoll Rand, Inc. | 69185 | 5956137 |
| ITT, Inc. | 14505 | 2644261 |
| Lincoln Electric Holdings, Inc. | 9295 | 2466428 |
| Middleby Corp.<sup>(a)</sup> | 8181 | 1203998 |
| Mueller Industries, Inc. | 18853 | 2566647 |
| Nordson Corp. | 9239 | 2536383 |
| Oshkosh Corp. | 10962 | 1576555 |
| Otis Worldwide Corp. | 67744 | 5786692 |
| Pentair PLC | 27928 | 2942773 |
| RBC Bearings, Inc.<sup>(a)</sup> | 5391 | 2693721 |
| Snap-on, Inc. | 8910 | 3262040 |
| Stanley Black & Decker, Inc. | 26969 | 2121382 |
| Timken Co. | 10674 | 994710 |
| Toro Co. | 16898 | 1546167 |
| Westinghouse Air Brake Technologies Corp. | 29346 | 6753688 |
| Xylem, Inc. | 42114 | 5806257 |
|  |  | 89329234 |
| **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** |  |
| Kirby Corp.<sup>(a)</sup> | 9715 | 1143067 |
| **Media — 1.0%** | **Media — 1.0%** |  |
| Charter Communications, Inc., Class A<sup>(a)(b)</sup> | 14360 | 2959883 |
| DoubleVerify Holdings, Inc.<sup>(a)</sup> | 22373 | 242076 |
| Fox Corp., Class A | 36343 | 2645044 |
| Fox Corp., Class B | 25464 | 1669674 |
| Liberty Broadband Corp., Class A<sup>(a)</sup> | 2963 | 142283 |
| Liberty Broadband Corp., Class C<sup>(a)</sup> | 19551 | 940599 |
| New York Times Co., Class A | 27564 | 2020717 |
| News Corp., Class A | 65717 | 1776330 |
| News Corp., Class B | 21807 | 678198 |
| Nexstar Media Group, Inc., Class A | 4832 | 1026220 |
| NIQ Global Intelligence PLC<sup>(a)(b)</sup> | 8310 | 141187 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Media (continued)** | **Media (continued)** |  |
| Omnicom Group, Inc. | 55502 | $4275874 |
| Sirius XM Holdings, Inc. | 33139 | 674379 |
| Trade Desk, Inc., Class A<sup>(a)</sup> | 77749 | 2358127 |
|  |  | 21550591 |
| **Metals & Mining — 1.4%** | **Metals & Mining — 1.4%** |  |
| Alcoa Corp. | 45127 | 2563665 |
| Anglogold Ashanti PLC | 86346 | 8018953 |
| Cleveland-Cliffs, Inc.<sup>(a)</sup> | 98152 | 1350572 |
| MP Materials Corp., Class A<sup>(a)(b)</sup> | 22929 | 1347537 |
| Nucor Corp. | 39752 | 7064725 |
| Reliance, Inc. | 9049 | 2981645 |
| Royal Gold, Inc. | 14221 | 3744532 |
| Steel Dynamics, Inc. | 23765 | 4267481 |
|  |  | 31339110 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.3%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.3%** |  |
| AGNC Investment Corp. | 185357 | 2113070 |
| Annaly Capital Management, Inc. | 117392 | 2701190 |
| Rithm Capital Corp. | 95685 | 1046794 |
| Starwood Property Trust, Inc. | 60362 | 1082290 |
|  |  | 6943344 |
| **Multi-Utilities — 1.8%** | **Multi-Utilities — 1.8%** |  |
| Ameren Corp. | 46704 | 4823589 |
| CenterPoint Energy, Inc. | 112853 | 4479136 |
| CMS Energy Corp. | 52378 | 3744503 |
| Consolidated Edison, Inc. | 62384 | 6652006 |
| DTE Energy Co. | 35861 | 4819001 |
| NiSource, Inc. | 82575 | 3657247 |
| Public Service Enterprise Group, Inc. | 86425 | 7117963 |
| WEC Energy Group, Inc. | 56352 | 6236476 |
|  |  | 41529921 |
| **Office REITs — 0.2%** | **Office REITs — 0.2%** |  |
| BXP, Inc. | 27313 | 1766332 |
| Cousins Properties, Inc. | 28629 | 722596 |
| Highwoods Properties, Inc. | 18222 | 471039 |
| Kilroy Realty Corp. | 20420 | 704081 |
| Vornado Realty Trust | 30306 | 966155 |
|  |  | 4630203 |
| **Oil, Gas & Consumable Fuels — 5.0%** | **Oil, Gas & Consumable Fuels — 5.0%** |  |
| Antero Midstream Corp. | 57721 | 1086309 |
| Antero Resources Corp.<sup>(a)</sup> | 50047 | 1820209 |
| APA Corp. | 60753 | 1604487 |
| Cheniere Energy, Inc. | 36877 | 7800223 |
| Chord Energy Corp. | 9830 | 985359 |
| Coterra Energy, Inc. | 131081 | 3781687 |
| Devon Energy Corp. | 106315 | 4274926 |
| Diamondback Energy, Inc. | 32688 | 5359198 |
| DT Midstream, Inc.<sup>(a)</sup> | 17480 | 2202830 |
| EQT Corp. | 107562 | 6209554 |
| Expand Energy Corp. | 39058 | 4390510 |
| HF Sinclair Corp. | 26862 | 1396555 |
| Kinder Morgan, Inc. | 336563 | 10261806 |
| Marathon Petroleum Corp. | 52682 | 9282042 |
| Matador Resources Co. | 20404 | 923077 |
| Occidental Petroleum Corp. | 122060 | 5540303 |
| ONEOK, Inc. | 108153 | 8564636 |
| Ovintiv, Inc. | 43942 | 1910159 |
| Permian Resources Corp., Class A | 122149 | 1970263 |
| Phillips 66 | 69746 | 10012736 |
| Range Resources Corp. | 41393 | 1566725 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |  |
| Targa Resources Corp. | 36816 | $7399280 |
| Texas Pacific Land Corp. | 10025 | 3492309 |
| Valero Energy Corp. | 52610 | 9545032 |
| Viper Energy, Inc., Class A | 29540 | 1250724 |
|  |  | 112630939 |
| **Paper & Forest Products — 0.0%** | **Paper & Forest Products — 0.0%** |  |
| Louisiana-Pacific Corp. | 10970 | 918628 |
| **Passenger Airlines — 0.9%** | **Passenger Airlines — 0.9%** |  |
| Alaska Air Group, Inc.<sup>(a)</sup> | 20054 | 1019345 |
| American Airlines Group, Inc.<sup>(a)</sup> | 113221 | 1505839 |
| Delta Air Lines, Inc. | 112873 | 7437202 |
| Southwest Airlines Co. | 80763 | 3837858 |
| United Airlines Holdings, Inc.<sup>(a)</sup> | 56330 | 5763685 |
|  |  | 19563929 |
| **Personal Care Products — 0.5%** | **Personal Care Products — 0.5%** |  |
| BellRing Brands, Inc.<sup>(a)</sup> | 21204 | 527344 |
| Coty, Inc., Class A<sup>(a)</sup> | 64883 | 205679 |
| elf Beauty, Inc.<sup>(a)</sup> | 9155 | 778083 |
| Estee Lauder Cos., Inc., Class A | 42410 | 4889025 |
| Kenvue, Inc. | 328882 | 5722547 |
|  |  | 12122678 |
| **Pharmaceuticals — 0.5%** | **Pharmaceuticals — 0.5%** |  |
| Corcept Therapeutics, Inc.<sup>(a)</sup> | 16414 | 654426 |
| Elanco Animal Health, Inc.<sup>(a)</sup> | 85709 | 2063873 |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> | 9976 | 1640952 |
| Organon & Co. | 43810 | 374137 |
| Perrigo Co. PLC | 23527 | 334319 |
| Royalty Pharma PLC, Class A | 67320 | 2805898 |
| Viatris, Inc. | 200622 | 2626142 |
|  |  | 10499747 |
| **Professional Services — 2.1%** | **Professional Services — 2.1%** |  |
| Amentum Holdings, Inc.<sup>(a)</sup> | 26694 | 955111 |
| Booz Allen Hamilton Holding Corp., Class A | 20837 | 1842407 |
| Broadridge Financial Solutions, Inc. | 20183 | 3978271 |
| CACI International, Inc., Class A<sup>(a)</sup> | 3722 | 2309799 |
| Clarivate PLC<sup>(a)</sup> | 59720 | 158258 |
| Concentrix Corp. | 7998 | 298725 |
| Dayforce, Inc.<sup>(a)</sup> | 26659 | 1846669 |
| Equifax, Inc. | 21223 | 4274312 |
| ExlService Holdings, Inc.<sup>(a)</sup> | 26511 | 1037906 |
| FTI Consulting, Inc.<sup>(a)</sup> | 5171 | 903219 |
| Genpact Ltd. | 28100 | 1239210 |
| Jacobs Solutions, Inc. | 20404 | 2759845 |
| KBR, Inc. | 22022 | 942762 |
| Leidos Holdings, Inc. | 22094 | 4159858 |
| ManpowerGroup, Inc. | 8133 | 295472 |
| Parsons Corp.<sup>(a)</sup> | 9214 | 645533 |
| Paychex, Inc. | 55847 | 5759501 |
| Paycom Software, Inc. | 8793 | 1184857 |
| Paylocity Holding Corp.<sup>(a)</sup> | 7609 | 1027063 |
| Robert Half, Inc. | 17403 | 602318 |
| Science Applications International Corp. | 8056 | 819779 |
| SS&C Technologies Holdings, Inc. | 36253 | 2968758 |
| TransUnion | 33512 | 2648118 |
| Verisk Analytics, Inc. | 24222 | 5267316 |
|  |  | 47925067 |
| **Real Estate Management & Development**<sup>(a)</sup> **— 0.8%** | **Real Estate Management & Development**<sup>(a)</sup> **— 0.8%** |  |
| CBRE Group, Inc., Class A | 51461 | 8765352 |
| CoStar Group, Inc. | 72300 | 4446450 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** |  |
| Howard Hughes Holdings, Inc. | 5458 | $445700 |
| Jones Lang LaSalle, Inc. | 8160 | 2920546 |
| Zillow Group, Inc., Class A | 8713 | 542297 |
| Zillow Group, Inc., Class C | 28563 | 1800326 |
|  |  | 18920671 |
| **Residential REITs — 1.2%** | **Residential REITs — 1.2%** |  |
| American Homes 4 Rent, Class A | 59733 | 1870838 |
| AvalonBay Communities, Inc. | 24630 | 4376012 |
| Camden Property Trust | 18371 | 2003357 |
| Equity LifeStyle Properties, Inc. | 33329 | 2105393 |
| Equity Residential | 65667 | 4092367 |
| Essex Property Trust, Inc. | 11025 | 2776867 |
| Invitation Homes, Inc. | 104886 | 2803603 |
| Mid-America Apartment Communities, Inc. | 20054 | 2693252 |
| Sun Communities, Inc. | 21034 | 2680363 |
| UDR, Inc. | 56551 | 2100870 |
|  |  | 27502922 |
| **Retail REITs — 1.4%** | **Retail REITs — 1.4%** |  |
| Agree Realty Corp. | 19572 | 1413686 |
| Brixmor Property Group, Inc. | 53169 | 1424397 |
| Federal Realty Investment Trust | 14652 | 1482196 |
| Kimco Realty Corp. | 114548 | 2414672 |
| NNN REIT, Inc. | 32460 | 1352608 |
| Realty Income Corp. | 158479 | 9692576 |
| Regency Centers Corp. | 31303 | 2281050 |
| Simon Property Group, Inc. | 56074 | 10727517 |
|  |  | 30788702 |
| **Semiconductors & Semiconductor Equipment — 2.5%** | **Semiconductors & Semiconductor Equipment — 2.5%** |  |
| Allegro MicroSystems, Inc.<sup>(a)</sup> | 20895 | 771234 |
| Amkor Technology, Inc. | 19684 | 951328 |
| Astera Labs, Inc.<sup>(a)</sup> | 21855 | 3291800 |
| Cirrus Logic, Inc.<sup>(a)</sup> | 8760 | 1141778 |
| Enphase Energy, Inc.<sup>(a)</sup> | 21637 | 800136 |
| Entegris, Inc. | 26004 | 3070292 |
| First Solar, Inc.<sup>(a)</sup> | 17587 | 3966220 |
| GLOBALFOUNDRIES, Inc.<sup>(a)</sup> | 17831 | 752468 |
| Lattice Semiconductor Corp.<sup>(a)</sup> | 23449 | 1888114 |
| MACOM Technology Solutions Holdings, Inc., <br> Class H<sup>(a)</sup><br>| 11050 | 2420613 |
| Microchip Technology, Inc. | 91341 | 6934609 |
| MKS, Inc. | 11625 | 2736641 |
| Monolithic Power Systems, Inc. | 8011 | 9005566 |
| ON Semiconductor Corp.<sup>(a)</sup> | 70920 | 4247399 |
| Onto Innovation, Inc.<sup>(a)</sup> | 8480 | 1713384 |
| Qnity Electronics, Inc. | 36365 | 3497586 |
| Qorvo, Inc.<sup>(a)</sup> | 14809 | 1156731 |
| Skyworks Solutions, Inc. | 25614 | 1428237 |
| Teradyne, Inc. | 27102 | 6532937 |
| Universal Display Corp. | 7530 | 864595 |
|  |  | 57171668 |
| **Software — 2.7%** | **Software — 2.7%** |  |
| Appfolio, Inc., Class A<sup>(a)</sup> | 3718 | 705974 |
| Aurora Innovation, Inc., Class A<sup>(a)(b)</sup> | 200279 | 841172 |
| Bentley Systems, Inc., Class B | 27491 | 965484 |
| Bill Holdings, Inc.<sup>(a)</sup> | 13824 | 596782 |
| CCC Intelligent Solutions Holdings, Inc.<sup>(a)(b)</sup> | 98851 | 749290 |
| Circle Internet Group, Inc., Class A<sup>(a)(b)</sup> | 8240 | 526783 |
| Confluent, Inc., Class A<sup>(a)</sup> | 49984 | 1526511 |
| Datadog, Inc., Class A<sup>(a)</sup> | 54025 | 6986513 |
| Docusign, Inc.<sup>(a)</sup> | 34600 | 1817884 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Software (continued)** | **Software (continued)** |  |
| Dolby Laboratories, Inc., Class A | 10309 | $661735 |
| Dropbox, Inc., Class A<sup>(a)</sup> | 32400 | 825552 |
| Dynatrace, Inc.<sup>(a)</sup> | 51486 | 1961102 |
| Elastic NV<sup>(a)</sup> | 15834 | 1043936 |
| Fair Isaac Corp.<sup>(a)</sup> | 4056 | 5934617 |
| Gen Digital, Inc. | 94178 | 2259330 |
| Gitlab, Inc., Class A<sup>(a)</sup> | 24259 | 848580 |
| Guidewire Software, Inc.<sup>(a)</sup> | 14689 | 2067624 |
| HubSpot, Inc.<sup>(a)</sup> | 8717 | 2440760 |
| Manhattan Associates, Inc.<sup>(a)</sup> | 10492 | 1584397 |
| nCino, Inc.<sup>(a)(b)</sup> | 18619 | 397516 |
| Nutanix, Inc., Class A<sup>(a)</sup> | 44832 | 1763242 |
| Pegasystems, Inc. | 14645 | 639840 |
| Procore Technologies, Inc.<sup>(a)(b)</sup> | 20012 | 1130478 |
| PTC, Inc.<sup>(a)</sup> | 20714 | 3234077 |
| RingCentral, Inc., Class A<sup>(a)(b)</sup> | 14013 | 362656 |
| Rubrik, Inc., Class A<sup>(a)</sup> | 22965 | 1284892 |
| SailPoint, Inc.<sup>(a)(b)</sup> | 10500 | 164745 |
| Samsara, Inc., Class A<sup>(a)</sup> | 53614 | 1503873 |
| SentinelOne, Inc., Class A<sup>(a)</sup> | 52071 | 727953 |
| Teradata Corp.<sup>(a)</sup> | 16301 | 464904 |
| Trimble, Inc.<sup>(a)</sup> | 41417 | 2799789 |
| Tyler Technologies, Inc.<sup>(a)</sup> | 7480 | 2763112 |
| UiPath, Inc., Class A<sup>(a)</sup> | 68957 | 868169 |
| Unity Software, Inc.<sup>(a)</sup> | 55736 | 1621918 |
| Zoom Communications, Inc., Class A<sup>(a)</sup> | 46113 | 4247007 |
| Zscaler, Inc.<sup>(a)</sup> | 17289 | 3457973 |
|  |  | 61776170 |
| **Specialized REITs — 2.1%** | **Specialized REITs — 2.1%** |  |
| Crown Castle, Inc. | 75090 | 6518563 |
| CubeSmart | 39536 | 1483786 |
| Digital Realty Trust, Inc. | 59548 | 9881991 |
| EPR Properties | 12567 | 681634 |
| Extra Space Storage, Inc. | 36460 | 5030386 |
| Fermi, Inc.<sup>(a)</sup> | 6200 | 54064 |
| Gaming and Leisure Properties, Inc. | 47097 | 2107591 |
| Iron Mountain, Inc. | 50784 | 4678730 |
| Lamar Advertising Co., Class A | 15037 | 1929397 |
| Millrose Properties, Inc., Class A | 26775 | 797895 |
| National Storage Affiliates Trust | 12195 | 387923 |
| Rayonier, Inc. | 51696 | 1175567 |
| SBA Communications Corp. | 18644 | 3432547 |
| VICI Properties, Inc. | 184875 | 5191290 |
| Weyerhaeuser Co. | 125804 | 3243227 |
|  |  | 46594591 |
| **Specialty Retail — 2.5%** | **Specialty Retail — 2.5%** |  |
| AutoNation, Inc.<sup>(a)</sup> | 4798 | 983494 |
| Bath & Body Works, Inc. | 35821 | 780898 |
| Best Buy Co., Inc. | 33133 | 2156958 |
| Burlington Stores, Inc.<sup>(a)</sup> | 10922 | 3231383 |
| CarMax, Inc.<sup>(a)</sup> | 25687 | 1144099 |
| Carvana Co., Class A<sup>(a)</sup> | 23396 | 9384370 |
| Chewy, Inc., Class A<sup>(a)</sup> | 37909 | 1103531 |
| Dick's Sporting Goods, Inc. | 10848 | 2191296 |
| Five Below, Inc.<sup>(a)</sup> | 9257 | 1774012 |
| Floor & Decor Holdings, Inc., Class A<sup>(a)</sup> | 18588 | 1226064 |
| GameStop Corp., Class A<sup>(a)(b)</sup> | 69914 | 1669546 |
| Gap, Inc. | 40176 | 1124124 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Specialty Retail (continued)** | **Specialty Retail (continued)** |  |
| Lithia Motors, Inc., Class A | 4094 | $1324163 |
| Murphy USA, Inc. | 2923 | 1234997 |
| Penske Automotive Group, Inc. | 3210 | 503296 |
| RH<sup>(a)</sup> | 2631 | 523122 |
| Ross Stores, Inc. | 55228 | 10418762 |
| Tractor Supply Co. | 92026 | 4682283 |
| Ulta Beauty, Inc.<sup>(a)</sup> | 7814 | 5058471 |
| Valvoline, Inc.<sup>(a)</sup> | 21341 | 698278 |
| Wayfair, Inc., Class A<sup>(a)(b)</sup> | 16947 | 1753845 |
| Williams-Sonoma, Inc. | 20519 | 4199213 |
|  |  | 57166205 |
| **Technology Hardware, Storage & Peripherals — 2.0%** | **Technology Hardware, Storage & Peripherals — 2.0%** |  |
| Hewlett Packard Enterprise Co. | 226942 | 4883792 |
| HP, Inc. | 163885 | 3185924 |
| NetApp, Inc. | 34670 | 3340455 |
| Pure Storage, Inc., Class A<sup>(a)</sup> | 53867 | 3745911 |
| Sandisk Corp.<sup>(a)(b)</sup> | 23340 | 13449675 |
| Super Micro Computer, Inc.<sup>(a)</sup> | 88020 | 2562262 |
| Western Digital Corp. | 58884 | 14734543 |
|  |  | 45902562 |
| **Textiles, Apparel & Luxury Goods — 0.9%** | **Textiles, Apparel & Luxury Goods — 0.9%** |  |
| Amer Sports, Inc.<sup>(a)</sup> | 26054 | 954358 |
| Birkenstock Holding PLC<sup>(a)</sup> | 8930 | 337197 |
| Columbia Sportswear Co. | 4459 | 246494 |
| Crocs, Inc.<sup>(a)</sup> | 8646 | 725572 |
| Deckers Outdoor Corp.<sup>(a)</sup> | 25318 | 3021450 |
| Lululemon Athletica, Inc.<sup>(a)</sup> | 18043 | 3148503 |
| On Holding AG, Class A<sup>(a)</sup> | 38471 | 1740813 |
| PVH Corp.<sup>(b)</sup> | 8327 | 519272 |
| Ralph Lauren Corp., Class A | 6506 | 2299285 |
| Tapestry, Inc. | 35793 | 4542490 |
| Under Armour, Inc., Class A<sup>(a)(b)</sup> | 32202 | 198686 |
| Under Armour, Inc., Class C<sup>(a)</sup> | 31793 | 192984 |
| VF Corp. | 60238 | 1180062 |
|  |  | 19107166 |
| **Trading Companies & Distributors — 2.3%** | **Trading Companies & Distributors — 2.3%** |  |
| Air Lease Corp., Class A | 17746 | 1146924 |
| Applied Industrial Technologies, Inc. | 6654 | 1732768 |
| Core & Main, Inc., Class A<sup>(a)</sup> | 33094 | 1765896 |
| Fastenal Co. | 198675 | 8614548 |
| Ferguson Enterprises, Inc. | 33201 | 8381925 |
| FTAI Aviation Ltd. | 17631 | 4801274 |
| MSC Industrial Direct Co., Inc., Class A | 7402 | 624285 |
| QXO, Inc.<sup>(a)(b)</sup> | 105725 | 2344981 |
| SiteOne Landscape Supply, Inc.<sup>(a)</sup> | 7650 | 1098081 |
| United Rentals, Inc. | 11002 | 8604224 |
| Watsco, Inc. | 5972 | 2307879 |
| WESCO International, Inc. | 8322 | 2408636 |
| WW Grainger, Inc. | 7593 | 8199984 |
|  |  | 52031405 |
| **Water Utilities — 0.3%** | **Water Utilities — 0.3%** |  |
| American Water Works Co., Inc. | 33708 | 4352714 |
| Essential Utilities, Inc. | 49270 | 1911183 |
|  |  | 6263897 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** |  |
| Millicom International Cellular SA | 17131 | $1045505 |
| **Total Common Stocks — 98.7%** <br>**(Cost: $1,360,532,573)** | **Total Common Stocks — 98.7%** <br>**(Cost: $1,360,532,573)** | 2222317132 |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Financial Services — 0.8%** | **Financial Services — 0.8%** |  |
| iShares Russell Mid-Cap ETF<sup>(d)</sup> | 177138 | 17568547 |
| **Total Investment Companies — 0.8%** <br>**(Cost: $16,674,880)** | **Total Investment Companies — 0.8%** <br>**(Cost: $16,674,880)** | 17568547 |
| **Total Long-Term Investments — 99.5%** <br>**(Cost: $1,377,207,453)** | **Total Long-Term Investments — 99.5%** <br>**(Cost: $1,377,207,453)** | 2239885679 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.2%** | **Money Market Funds — 2.2%** |  |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 3.82%<sup>(d)(e)(f)</sup><br>| 37772831 | 37791717 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 3.64%<sup>(d)(e)</sup><br>| 11606011 | 11606011 |
| **Total Short-Term Securities — 2.2%** <br>**(Cost: $49,397,728)** | **Total Short-Term Securities — 2.2%** <br>**(Cost: $49,397,728)** | 49397728 |
| **Total Investments — 101.7%** <br>**(Cost: $1,426,605,181)** | **Total Investments — 101.7%** <br>**(Cost: $1,426,605,181)** | 2289283407 |
| **Liabilities in Excess of Other Assets — (1.7)%** | **Liabilities in Excess of Other Assets — (1.7)%** | (38695450)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2250587957 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

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

<sup>(c)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

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

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

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

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the six months ended January 31, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*01/31/26*<br>| *Shares* <br>*Held at* <br>*01/31/26*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $60755475 | $— | $(22968651 )<sup>(a)</sup><br>| &nbsp;&nbsp; $4893 | $— | $37791717 | 37772831 | $216279 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 14522945 |  | (2916934 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 11606011 | 11606011 | 285309 | &nbsp;&nbsp; — |
| iShares Russell Mid-Cap ETF | 14957053 | 57490497 | (55903338)<br>| &nbsp;&nbsp; 877437 | 146898 | 17568547 | 177138 | 86658 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $882330 | $146898 | $66966275 |  | $588246 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<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 collateral investment fees, and other payments to and from borrowers of securities. 

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts  |  |  |  |  |
| S&P 500 E-Mini Index | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp;&nbsp;&nbsp; $1741 | &nbsp;&nbsp;&nbsp;&nbsp; $7161 |
| S&P Mid 400 E-Mini Index | &nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp;&nbsp;&nbsp; 8619 | &nbsp;&nbsp;&nbsp;&nbsp; 134170 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $141331 |

---

**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* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets — Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts <br>Unrealized appreciation on futures contracts<sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $141331 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $141331 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> 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 period ended January 31, 2026, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from:** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1270064 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1270064 |
| **Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $258884 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $258884 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $9613849 |

---

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 at the measurement date. 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 | &nbsp;&nbsp; $2222317132 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $2222317132 |
| Investment Companies | &nbsp;&nbsp; 17568547 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17568547 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 49397728 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 49397728 |
|  | &nbsp;&nbsp; $2289283407 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $2289283407 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Mid-Cap Index Fund** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $141331 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $141331 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 3.4%** | **Aerospace & Defense — 3.4%** |  |
| AAR Corp.<sup>(a)</sup> | 6183 | $654842 |
| AeroVironment, Inc.<sup>(a)</sup> | 5919 | 1647790 |
| AerSale Corp.<sup>(a)</sup> | 6945 | 52018 |
| AIRO Group Holdings, Inc.<sup>(a)</sup> | 1590 | 16361 |
| Archer Aviation, Inc., Class A<sup>(a)(b)</sup> | 96769 | 695769 |
| Astronics Corp.<sup>(a)(b)</sup> | 5146 | 389809 |
| ATI, Inc.<sup>(a)(b)</sup> | 21321 | 2564916 |
| BWX Technologies, Inc. | 14353 | 2948537 |
| Byrna Technologies, Inc.<sup>(a)(b)</sup> | 2556 | 35043 |
| Cadre Holdings, Inc. | 4252 | 170122 |
| Carpenter Technology Corp. | 7604 | 2416779 |
| Curtiss-Wright Corp. | 5941 | 3901395 |
| Ducommun, Inc.<sup>(a)</sup> | 2079 | 235655 |
| Eve Holding, Inc.<sup>(a)</sup> | 15788 | 62205 |
| Firefly Aerospace, Inc.<sup>(a)(b)</sup> | 3691 | 93013 |
| Hexcel Corp. | 12680 | 1050031 |
| Huntington Ingalls Industries, Inc. | 6209 | 2610947 |
| Intuitive Machines, Inc., Class A<sup>(a)(b)</sup> | 17078 | 324311 |
| Karman Holdings, Inc.<sup>(a)(b)</sup> | 8010 | 831438 |
| Kratos Defense & Security Solutions, Inc.<sup>(a)</sup> | 26257 | 2704734 |
| Leonardo DRS, Inc. | 11717 | 481100 |
| Loar Holdings, Inc.<sup>(a)(b)</sup> | 6558 | 449748 |
| Mercury Systems, Inc.<sup>(a)</sup> | 8393 | 787935 |
| Moog, Inc., Class A | 4427 | 1351784 |
| National Presto Industries, Inc. | 790 | 100646 |
| Park Aerospace Corp. | 2627 | 64335 |
| Red Cat Holdings, Inc.<sup>(a)(b)</sup> | 16570 | 223695 |
| Redwire Corp.<sup>(a)(b)</sup> | 8940 | 105045 |
| Rocket Lab Corp.<sup>(a)</sup> | 65352 | 5232735 |
| Satellogic, Inc., Class A<sup>(a)</sup> | 11023 | 50706 |
| StandardAero, Inc.<sup>(a)(b)</sup> | 22977 | 709759 |
| Textron, Inc. | 28112 | 2475543 |
| V2X, Inc.<sup>(a)</sup> | 3732 | 256874 |
| Voyager Technologies, Inc., Class A<sup>(a)</sup> | 2624 | 80111 |
| VSE Corp.<sup>(b)</sup> | 3623 | 791879 |
| Woodward, Inc. | 9463 | 3007720 |
|  |  | 39575330 |
| **Air Freight & Logistics — 0.4%** | **Air Freight & Logistics — 0.4%** |  |
| CH Robinson Worldwide, Inc. | 18486 | 3603845 |
| Forward Air Corp.<sup>(a)(b)</sup> | 3450 | 96186 |
| GXO Logistics, Inc.<sup>(a)</sup> | 17576 | 994626 |
| Hub Group, Inc., Class A | 9274 | 441257 |
| Radiant Logistics, Inc.<sup>(a)</sup> | 4349 | 29269 |
|  |  | 5165183 |
| **Automobile Components — 0.8%** | **Automobile Components — 0.8%** |  |
| Adient PLC<sup>(a)</sup> | 13158 | 273686 |
| American Axle & Manufacturing Holdings, Inc.<sup>(a)</sup> | 19143 | 152570 |
| BorgWarner, Inc. | 33523 | 1589325 |
| Cooper-Standard Holdings, Inc.<sup>(a)</sup> | 2603 | 81656 |
| Dana, Inc. | 18738 | 541528 |
| Dorman Products, Inc.<sup>(a)</sup> | 4389 | 545114 |
| Fox Factory Holding Corp.<sup>(a)</sup> | 6411 | 117962 |
| Garrett Motion, Inc. | 24836 | 448042 |
| Gentex Corp. | 34386 | 791222 |
| Gentherm, Inc.<sup>(a)</sup> | 4650 | 148614 |
| Goodyear Tire & Rubber Co.<sup>(a)</sup> | 44069 | 414689 |
| Holley, Inc.<sup>(a)</sup> | 12453 | 47944 |
| LCI Industries | 3725 | 546420 |
| Lear Corp. | 8234 | 964119 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Automobile Components (continued)** | **Automobile Components (continued)** |  |
| Motorcar Parts of America, Inc.<sup>(a)</sup> | 2875 | $35736 |
| Patrick Industries, Inc. | 5250 | 662393 |
| Phinia, Inc. | 6145 | 437340 |
| QuantumScape Corp., Class A<sup>(a)(b)</sup> | 71352 | 631465 |
| Solid Power, Inc., Class A<sup>(a)(b)</sup> | 26704 | 119634 |
| Standard Motor Products, Inc. | 3197 | 127656 |
| Strattec Security Corp.<sup>(a)(b)</sup> | 570 | 45098 |
| Visteon Corp. | 4425 | 402056 |
| XPEL, Inc.<sup>(a)</sup> | 4211 | 216909 |
|  |  | 9341178 |
| **Automobiles — 0.3%** | **Automobiles — 0.3%** |  |
| Faraday Future Intelligent Electric, Inc.<sup>(a)(b)</sup> | 14673 | 15260 |
| Harley-Davidson, Inc. | 17585 | 348183 |
| Livewire Group, Inc.<sup>(a)</sup> | 6820 | 15959 |
| Lucid Group, Inc.<sup>(a)(b)</sup> | 18844 | 208603 |
| Rivian Automotive, Inc., Class A<sup>(a)</sup> | 124281 | 1833145 |
| Thor Industries, Inc. | 8132 | 909727 |
| Winnebago Industries, Inc. | 4318 | 198239 |
|  |  | 3529116 |
| **Banks — 6.2%** | **Banks — 6.2%** |  |
| 1st Source Corp. | 2914 | 196200 |
| ACNB Corp. | 1301 | 65727 |
| Amalgamated Financial Corp. | 3871 | 150350 |
| Amerant Bancorp, Inc. | 5448 | 118222 |
| Ameris Bancorp | 10121 | 815955 |
| Ames National Corp. | 1638 | 42752 |
| Arrow Financial Corp. | 2667 | 90171 |
| Associated Banc-Corp. | 26053 | 710205 |
| Atlantic Union Bankshares Corp. | 21827 | 847761 |
| Axos Financial, Inc.<sup>(a)</sup> | 8412 | 832704 |
| Banc of California, Inc. | 19841 | 396423 |
| BancFirst Corp. | 3141 | 345353 |
| Bancorp, Inc.<sup>(a)</sup> | 7020 | 417269 |
| Bank First Corp. | 1366 | 190612 |
| Bank of Hawaii Corp. | 6022 | 450325 |
| Bank of Marin Bancorp | 2028 | 54452 |
| Bank of NT Butterfield & Son Ltd. | 6909 | 357886 |
| Bank OZK | 17198 | 817937 |
| Bank7 Corp. | 680 | 30219 |
| BankUnited, Inc. | 11465 | 544244 |
| Bankwell Financial Group, Inc. | 1238 | 59659 |
| Banner Corp. | 5277 | 326330 |
| Bar Harbor Bankshares | 2443 | 82842 |
| BayCom Corp. | 1959 | 57164 |
| BCB Bancorp, Inc. | 3294 | 25990 |
| Beacon Financial Corp. | 12885 | 365290 |
| Blue Foundry Bancorp<sup>(a)</sup> | 2426 | 31902 |
| Blue Ridge Bankshares, Inc. | 8816 | 37468 |
| BOK Financial Corp. | 3985 | 517811 |
| Bridgewater Bancshares, Inc.<sup>(a)</sup> | 3178 | 61049 |
| Burke & Herbert Financial Services Corp. | 1864 | 122055 |
| Business First Bancshares, Inc. | 3889 | 109553 |
| BV Financial, Inc.<sup>(a)</sup> | 1325 | 25334 |
| Byline Bancorp, Inc. | 6654 | 212462 |
| C&F Financial Corp. | 494 | 37198 |
| California BanCorp | 2563 | 46108 |
| Camden National Corp. | 2496 | 118735 |
| Capital Bancorp, Inc. | 1708 | 52470 |
| Capital City Bank Group, Inc. | 2262 | 94461 |
| Capitol Federal Financial, Inc. | 18425 | 134134 |
| Carter Bankshares, Inc.<sup>(a)</sup> | 3597 | 77012 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** |  |
| Cathay General Bancorp | 10355 | $529969 |
| CB Financial Services, Inc. | 694 | 24866 |
| Central Pacific Financial Corp. | 3675 | 119695 |
| CF Bankshares, Inc. | 423 | 12314 |
| Chemung Financial Corp. | 924 | 56151 |
| ChoiceOne Financial Services, Inc. | 2175 | 62401 |
| Citizens & Northern Corp. | 2788 | 63455 |
| Citizens Community Bancorp, Inc. | 2165 | 39273 |
| Citizens Financial Services, Inc. | 691 | 43706 |
| City Holding Co. | 2147 | 264274 |
| Civista Bancshares, Inc. | 2428 | 58588 |
| CNB Financial Corp. | 4354 | 120606 |
| Coastal Financial Corp.<sup>(a)</sup> | 2179 | 208705 |
| CoastalSouth Bancshares, Inc.<sup>(a)</sup> | 1501 | 35979 |
| Colony Bankcorp, Inc. | 2758 | 53671 |
| Columbia Banking System, Inc. | 47703 | 1404376 |
| Columbia Financial, Inc.<sup>(a)</sup> | 4215 | 68578 |
| Commerce Bancshares, Inc. | 20672 | 1088174 |
| Commercial Bancgroup, Inc.<sup>(a)(b)</sup> | 1723 | 45384 |
| Community Financial System, Inc. | 8043 | 502687 |
| Community Trust Bancorp, Inc. | 2457 | 151597 |
| Community West Bancshares | 2525 | 60524 |
| ConnectOne Bancorp, Inc. | 7122 | 189588 |
| Cullen/Frost Bankers, Inc. | 9736 | 1341816 |
| Customers Bancorp, Inc.<sup>(a)</sup> | 4960 | 391939 |
| CVB Financial Corp. | 21928 | 432201 |
| Dime Community Bancshares, Inc. | 6363 | 216469 |
| Eagle Bancorp Montana, Inc. | 619 | 13438 |
| Eagle Bancorp, Inc. | 4339 | 116112 |
| Eagle Financial Services, Inc. | 376 | 14405 |
| East West Bancorp, Inc. | 21956 | 2512645 |
| Eastern Bankshares, Inc. | 35716 | 731642 |
| Enterprise Financial Services Corp. | 5597 | 320988 |
| Equity Bancshares, Inc., Class A | 2624 | 121019 |
| Esquire Financial Holdings, Inc. | 1047 | 111642 |
| Farmers & Merchants Bancorp, Inc./Archbold | 1982 | 53177 |
| Farmers National Banc Corp. | 6315 | 81969 |
| FB Bancorp, Inc.<sup>(a)</sup> | 2613 | 33864 |
| FB Financial Corp. | 6957 | 400236 |
| Fidelity D&D Bancorp, Inc. | 913 | 40811 |
| Financial Institutions, Inc. | 3016 | 99347 |
| Finward Bancorp | 1023 | 37488 |
| Finwise Bancorp<sup>(a)</sup> | 1426 | 24969 |
| First Bancorp, Inc. | 2127 | 58173 |
| First BanCorp./Puerto Rico | 24791 | 548377 |
| First Bancorp/Southern Pines NC | 6156 | 356617 |
| First Bank | 3490 | 58213 |
| First Busey Corp. | 12825 | 316136 |
| First Business Financial Services, Inc. | 1197 | 68612 |
| First Capital, Inc. | 426 | 25100 |
| First Commonwealth Financial Corp. | 15976 | 288047 |
| First Community Bankshares, Inc. | 2467 | 88861 |
| First Community Corp. | 1222 | 35829 |
| First Financial Bancorp | 19214 | 552210 |
| First Financial Bankshares, Inc. | 20528 | 653201 |
| First Financial Corp. | 1873 | 122045 |
| First Foundation, Inc.<sup>(a)</sup> | 9264 | 58178 |
| First Hawaiian, Inc. | 21443 | 569312 |
| First Horizon Corp. | 80363 | 1968090 |
| First Internet Bancorp | 1365 | 29743 |
| First Interstate BancSystem, Inc., Class A | 15943 | 565498 |
| First Merchants Corp. | 9237 | 367263 |
| First Mid Bancshares, Inc. | 3209 | 135099 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** |  |
| First National Corp. | 1084 | $28563 |
| First Savings Financial Group, Inc. | 597 | 20286 |
| First United Corp. | 991 | 37985 |
| First Western Financial, Inc.<sup>(a)</sup> | 903 | 22710 |
| Firstsun Capital Bancorp<sup>(a)</sup> | 1849 | 72999 |
| Five Star Bancorp | 2808 | 111253 |
| Flagstar Bank NA | 46552 | 615417 |
| Flushing Financial Corp. | 4857 | 76692 |
| FNB Corp. | 58666 | 1029588 |
| Franklin Financial Services Corp. | 605 | 30861 |
| FS Bancorp, Inc. | 1168 | 49033 |
| Fulton Financial Corp. | 26955 | 556621 |
| FVCBankcorp, Inc. | 1981 | 29992 |
| GBank Financial Holdings, Inc.<sup>(a)(b)</sup> | 1439 | 46811 |
| German American Bancorp, Inc. | 5321 | 223854 |
| Glacier Bancorp, Inc. | 20987 | 1063621 |
| Great Southern Bancorp, Inc. | 1318 | 80899 |
| Greene County Bancorp, Inc. | 1059 | 24823 |
| Hancock Whitney Corp. | 14374 | 988931 |
| Hanmi Financial Corp. | 4620 | 122753 |
| Hanover Bancorp, Inc. | 466 | 10765 |
| Hawthorn Bancshares, Inc. | 1035 | 36649 |
| HBT Financial, Inc. | 1928 | 52017 |
| Heritage Commerce Corp. | 9363 | 119191 |
| Heritage Financial Corp. | 5193 | 134031 |
| Hilltop Holdings, Inc. | 7366 | 275857 |
| Hingham Institution For Savings<sup>(b)</sup> | 237 | 70733 |
| Home Bancorp, Inc. | 975 | 58198 |
| Home BancShares, Inc. | 31894 | 921737 |
| HomeTrust Bancshares, Inc. | 2459 | 106032 |
| Hope Bancorp, Inc. | 23649 | 283315 |
| Horizon Bancorp, Inc. | 11376 | 200445 |
| Independent Bank Corp. | 10127 | 716487 |
| International Bancshares Corp. | 8599 | 598834 |
| Investar Holding Corp. | 1625 | 46231 |
| John Marshall Bancorp, Inc. | 2200 | 45408 |
| Kearny Financial Corp. | 7547 | 58791 |
| Lakeland Financial Corp. | 3825 | 227970 |
| Landmark Bancorp, Inc. | 426 | 11498 |
| LCNB Corp. | 2534 | 43357 |
| LINKBANCORP, Inc. | 2736 | 23940 |
| Live Oak Bancshares, Inc. | 5460 | 218182 |
| MainStreet Bancshares, Inc. | 550 | 11775 |
| Mechanics Bancorp, Class A | 8107 | 121524 |
| Mercantile Bank Corp. | 2590 | 134628 |
| Meridian Corp. | 1142 | 21618 |
| Metrocity Bankshares, Inc. | 3148 | 88679 |
| Metropolitan Bank Holding Corp. | 1514 | 140196 |
| Mid Penn Bancorp, Inc. | 2906 | 95869 |
| Middlefield Banc Corp. | 1202 | 40315 |
| Midland States Bancorp, Inc. | 3020 | 69007 |
| MidWestOne Financial Group, Inc. | 2274 | 105332 |
| MVB Financial Corp. | 2086 | 58909 |
| National Bank Holdings Corp., Class A | 5673 | 227941 |
| National Bankshares, Inc. | 695 | 25305 |
| NB Bancorp, Inc. | 5207 | 113096 |
| NBT Bancorp, Inc. | 7817 | 347309 |
| Nicolet Bankshares, Inc. | 2046 | 298675 |
| Northeast Bank | 1055 | 121568 |
| Northeast Community Bancorp, Inc. | 2015 | 47554 |
| Northfield Bancorp, Inc. | 6432 | 79242 |
| Northpointe Bancshares, Inc.<sup>(b)</sup> | 4613 | 79528 |
| Northrim BanCorp, Inc. | 3600 | 84816 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** |  |
| Northwest Bancshares, Inc. | 22134 | $285086 |
| Norwood Financial Corp. | 1633 | 49692 |
| Oak Valley Bancorp | 1328 | 42430 |
| OceanFirst Financial Corp. | 9287 | 174131 |
| OFG Bancorp | 6947 | 279964 |
| Ohio Valley Banc Corp. | 471 | 19382 |
| Old National Bancorp | 56096 | 1370425 |
| Old Second Bancorp, Inc. | 7376 | 146340 |
| OP Bancorp | 2368 | 33105 |
| Orange County Bancorp, Inc. | 2064 | 63612 |
| Origin Bancorp, Inc. | 4429 | 189694 |
| Orrstown Financial Services, Inc. | 2409 | 86772 |
| Park National Corp. | 2272 | 370200 |
| Parke Bancorp, Inc. | 2375 | 64861 |
| Pathward Financial, Inc. | 3612 | 326127 |
| Patriot National Bancorp, Inc.<sup>(a)(b)</sup> | 6510 | 10025 |
| PCB Bancorp | 2030 | 45553 |
| Peapack-Gladstone Financial Corp. | 2651 | 84090 |
| Peoples Bancorp of North Carolina, Inc. | 565 | 20696 |
| Peoples Bancorp, Inc. | 5658 | 183998 |
| Peoples Financial Services Corp. | 1280 | 66688 |
| Pinnacle Financial Partners, Inc. | 23828 | 2265805 |
| Pioneer Bancorp, Inc.<sup>(a)</sup> | 2062 | 29177 |
| Plumas Bancorp | 978 | 49008 |
| Ponce Financial Group, Inc.<sup>(a)</sup> | 2258 | 37889 |
| Popular, Inc. | 10590 | 1414083 |
| Preferred Bank | 621 | 53263 |
| Primis Financial Corp. | 2737 | 36895 |
| Princeton Bancorp, Inc. | 1181 | 42788 |
| Prosperity Bancshares, Inc. | 14734 | 1016793 |
| Provident Financial Services, Inc. | 16676 | 369207 |
| QCR Holdings, Inc. | 2440 | 220234 |
| RBB Bancorp | 3188 | 66119 |
| Red River Bancshares, Inc. | 743 | 61714 |
| Renasant Corp. | 14281 | 538536 |
| Republic Bancorp, Inc., Class A | 1406 | 102090 |
| Richmond Mutual BanCorp, Inc. | 699 | 9807 |
| Riverview Bancorp, Inc. | 1844 | 9533 |
| S&T Bancorp, Inc. | 5859 | 249828 |
| SB Financial Group, Inc. | 640 | 14611 |
| Seacoast Banking Corp. of Florida | 15016 | 502135 |
| ServisFirst Bancshares, Inc. | 8519 | 697280 |
| Shore Bancshares, Inc. | 5379 | 102040 |
| Sierra Bancorp | 2138 | 75707 |
| Simmons First National Corp., Class A | 21414 | 435347 |
| SmartFinancial, Inc. | 2255 | 90020 |
| Sound Financial Bancorp, Inc. | 212 | 9307 |
| South Plains Financial, Inc. | 2102 | 87569 |
| Southern First Bancshares, Inc.<sup>(a)</sup> | 1241 | 68181 |
| Southern Missouri Bancorp, Inc. | 1499 | 93792 |
| Southside Bancshares, Inc. | 4415 | 142119 |
| Southstate Bank Corp. | 16189 | 1656620 |
| Stellar Bancorp, Inc. | 7060 | 262208 |
| Sterling Bancorp, Inc.<sup>(a)(c)</sup> | 2210 |  |
| Stock Yards Bancorp, Inc. | 4049 | 274077 |
| Texas Capital Bancshares, Inc.<sup>(a)</sup> | 7537 | 762518 |
| TFS Financial Corp. | 8591 | 120918 |
| Third Coast Bancshares, Inc.<sup>(a)(b)</sup> | 1731 | 70209 |
| Timberland Bancorp, Inc. | 1278 | 49765 |
| Tompkins Financial Corp. | 2122 | 170015 |
| Towne Bank | 11667 | 408345 |
| TriCo Bancshares | 5067 | 252438 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** |  |
| Triumph Financial, Inc.<sup>(a)</sup> | 3409 | $215074 |
| TrustCo Bank Corp. | 2733 | 118612 |
| Trustmark Corp. | 10020 | 426050 |
| UMB Financial Corp. | 11661 | 1482580 |
| Union Bankshares, Inc. | 368 | 9160 |
| United Bankshares, Inc. | 21791 | 922413 |
| United Community Banks, Inc. | 18536 | 638194 |
| United Security Bancshares | 1124 | 12072 |
| Unity Bancorp, Inc. | 1288 | 69500 |
| Univest Financial Corp. | 4696 | 155625 |
| USCB Financial Holdings, Inc., Class A | 1779 | 33534 |
| Valley National Bancorp | 78541 | 978621 |
| Virginia National Bankshares Corp. | 903 | 36951 |
| WaFd, Inc. | 12335 | 402368 |
| Washington Trust Bancorp, Inc. | 2793 | 95995 |
| Webster Financial Corp. | 26369 | 1734289 |
| WesBanco, Inc. | 14653 | 517104 |
| West BanCorp, Inc. | 2424 | 57522 |
| Westamerica BanCorp | 3948 | 199690 |
| Western Alliance Bancorp | 17163 | 1530081 |
| Western New England Bancorp, Inc. | 3226 | 43325 |
| Wintrust Financial Corp. | 10919 | 1610443 |
| WSFS Financial Corp. | 8894 | 575709 |
| Zions Bancorp N.A. | 22400 | 1341984 |
|  |  | 71079139 |
| **Beverages — 0.4%** | **Beverages — 0.4%** |  |
| Boston Beer Co., Inc., Class A<sup>(a)</sup> | 1259 | 268948 |
| Celsius Holdings, Inc.<sup>(a)</sup> | 25617 | 1344380 |
| Coca-Cola Consolidated, Inc. | 8949 | 1360785 |
| MGP Ingredients, Inc. | 2152 | 53606 |
| National Beverage Corp.<sup>(a)</sup> | 3491 | 118973 |
| Primo Brands Corp. | 40510 | 767260 |
| Vita Coco Co., Inc.<sup>(a)</sup> | 7498 | 400018 |
| Zevia PBC, Class A<sup>(a)</sup> | 5455 | 10092 |
|  |  | 4324062 |
| **Biotechnology — 5.8%** | **Biotechnology — 5.8%** |  |
| 4D Molecular Therapeutics, Inc.<sup>(a)</sup> | 5630 | 49882 |
| Abeona Therapeutics, Inc.<sup>(a)(b)</sup> | 7346 | 37391 |
| Absci Corp.<sup>(a)(b)</sup> | 26409 | 78963 |
| ACADIA Pharmaceuticals, Inc.<sup>(a)</sup> | 19906 | 500238 |
| ADC Therapeutics SA<sup>(a)</sup> | 12004 | 43334 |
| ADMA Biologics, Inc.<sup>(a)</sup> | 35273 | 610223 |
| Agios Pharmaceuticals, Inc.<sup>(a)</sup> | 9340 | 256290 |
| Akebia Therapeutics, Inc.<sup>(a)</sup> | 39452 | 55627 |
| Aldeyra Therapeutics, Inc.<sup>(a)(b)</sup> | 7981 | 42778 |
| Alector, Inc.<sup>(a)</sup> | 9387 | 17741 |
| Alkermes PLC<sup>(a)</sup> | 24852 | 842234 |
| Allogene Therapeutics, Inc.<sup>(a)</sup> | 21990 | 40462 |
| Altimmune, Inc.<sup>(a)(b)</sup> | 10771 | 60318 |
| Amicus Therapeutics, Inc.<sup>(a)</sup> | 46402 | 663085 |
| AnaptysBio, Inc.<sup>(a)(b)</sup> | 2976 | 141092 |
| Anavex Life Sciences Corp.<sup>(a)(b)</sup> | 13159 | 61847 |
| Anika Therapeutics, Inc.<sup>(a)(b)</sup> | 1887 | 17417 |
| Annexon, Inc.<sup>(a)</sup> | 19034 | 118772 |
| Apellis Pharmaceuticals, Inc.<sup>(a)</sup> | 16746 | 378125 |
| Apogee Therapeutics, Inc.<sup>(a)</sup> | 6064 | 397253 |
| Arbutus Biopharma Corp.<sup>(a)</sup> | 22306 | 92124 |
| Arcellx, Inc.<sup>(a)</sup> | 5560 | 379804 |
| Arcturus Therapeutics Holdings, Inc.<sup>(a)</sup> | 3681 | 27497 |
| Arcus Biosciences, Inc.<sup>(a)</sup> | 12641 | 265967 |
| Arcutis Biotherapeutics, Inc.<sup>(a)</sup> | 17721 | 449582 |
| Ardelyx, Inc.<sup>(a)(b)</sup> | 36350 | 279531 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| ArriVent Biopharma, Inc.<sup>(a)(b)</sup> | 4667 | $104961 |
| Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup> | 20738 | 1437766 |
| ARS Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 8342 | 83337 |
| aTyr Pharma, Inc.<sup>(a)</sup> | 13663 | 12062 |
| Aura Biosciences, Inc.<sup>(a)</sup> | 6875 | 38500 |
| Aurinia Pharmaceuticals, Inc.<sup>(a)</sup> | 17813 | 258823 |
| Avidity Biosciences, Inc.<sup>(a)</sup> | 18096 | 1313227 |
| Avita Medical, Inc.<sup>(a)(b)</sup> | 4188 | 18469 |
| Beam Therapeutics, Inc.<sup>(a)</sup> | 14614 | 403639 |
| Benitec Biopharma, Inc.<sup>(a)</sup> | 2312 | 28160 |
| Bicara Therapeutics, Inc.<sup>(a)(b)</sup> | 5641 | 94769 |
| BioCryst Pharmaceuticals, Inc.<sup>(a)</sup> | 36160 | 237933 |
| Biohaven Ltd.<sup>(a)</sup> | 15369 | 181815 |
| Bridgebio Pharma, Inc.<sup>(a)(b)</sup> | 24883 | 1922709 |
| Bright Minds Biosciences, Inc.<sup>(a)(b)</sup> | 732 | 56913 |
| Candel Therapeutics, Inc.<sup>(a)(b)</sup> | 6583 | 38445 |
| Capricor Therapeutics, Inc.<sup>(a)</sup> | 5410 | 118425 |
| Cardiff Oncology, Inc.<sup>(a)(b)</sup> | 7264 | 12712 |
| CareDx, Inc.<sup>(a)</sup> | 8164 | 167770 |
| Caris Life Sciences, Inc.<sup>(a)</sup> | 3497 | 80991 |
| Cartesian Therapeutics, Inc.<sup>(a)(b)</sup> | 1749 | 11946 |
| Catalyst Pharmaceuticals, Inc.<sup>(a)</sup> | 17268 | 419612 |
| Celcuity, Inc.<sup>(a)(b)</sup> | 5041 | 551586 |
| Celldex Therapeutics, Inc.<sup>(a)(b)</sup> | 9923 | 244106 |
| CG oncology, Inc.<sup>(a)</sup> | 8369 | 435606 |
| Cogent Biosciences, Inc.<sup>(a)</sup> | 21789 | 782443 |
| Coherus Oncology, Inc.<sup>(a)(b)</sup> | 22239 | 48036 |
| Compass Therapeutics, Inc.<sup>(a)(b)</sup> | 20730 | 132672 |
| Corvus Pharmaceuticals, Inc.<sup>(a)</sup> | 8512 | 176198 |
| CRISPR Therapeutics AG<sup>(a)(b)</sup> | 13713 | 685101 |
| Cullinan Therapeutics, Inc.<sup>(a)(b)</sup> | 7949 | 95070 |
| Cytokinetics, Inc.<sup>(a)(b)</sup> | 18360 | 1160168 |
| Day One Biopharmaceuticals, Inc.<sup>(a)(b)</sup> | 10222 | 114078 |
| Denali Therapeutics, Inc.<sup>(a)</sup> | 20516 | 446018 |
| Design Therapeutics, Inc.<sup>(a)</sup> | 3449 | 35214 |
| DiaMedica Therapeutics, Inc.<sup>(a)(b)</sup> | 3522 | 28317 |
| Dianthus Therapeutics, Inc.<sup>(a)</sup> | 3878 | 207046 |
| Disc Medicine, Inc.<sup>(a)</sup> | 3739 | 289099 |
| Dynavax Technologies Corp.<sup>(a)</sup> | 15926 | 246614 |
| Dyne Therapeutics, Inc.<sup>(a)</sup> | 19519 | 349195 |
| Editas Medicine, Inc.<sup>(a)(b)</sup> | 12174 | 24226 |
| Eledon Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 10548 | 23206 |
| Emergent BioSolutions, Inc.<sup>(a)</sup> | 8380 | 95029 |
| Enanta Pharmaceuticals, Inc.<sup>(a)</sup> | 3569 | 46040 |
| Entrada Therapeutics, Inc.<sup>(a)</sup> | 4226 | 48345 |
| Erasca, Inc.<sup>(a)</sup> | 25319 | 266103 |
| Exact Sciences Corp.<sup>(a)</sup> | 29510 | 3020053 |
| Exelixis, Inc.<sup>(a)</sup> | 41169 | 1702750 |
| Fate Therapeutics, Inc.<sup>(a)(b)</sup> | 12442 | 14806 |
| Fennec Pharmaceuticals, Inc.<sup>(a)</sup> | 2977 | 22595 |
| Foghorn Therapeutics, Inc.<sup>(a)</sup> | 4633 | 26454 |
| Geron Corp.<sup>(a)(b)</sup> | 89946 | 123226 |
| Gossamer Bio, Inc.<sup>(a)</sup> | 29510 | 67283 |
| GRAIL, Inc.<sup>(a)</sup> | 5522 | 540162 |
| Greenwich Lifesciences, Inc.<sup>(a)(b)</sup> | 1301 | 39121 |
| Gyre Therapeutics, Inc.<sup>(a)(b)</sup> | 1694 | 13704 |
| Halozyme Therapeutics, Inc.<sup>(a)</sup> | 18154 | 1301823 |
| Heron Therapeutics, Inc.<sup>(a)(b)</sup> | 20897 | 27584 |
| Humacyte, Inc.<sup>(a)(b)</sup> | 18654 | 18611 |
| Ideaya Biosciences, Inc.<sup>(a)(b)</sup> | 12557 | 404210 |
| ImmunityBio, Inc.<sup>(a)(b)</sup> | 51387 | 321169 |
| Immunome, Inc.<sup>(a)</sup> | 12887 | 317278 |
| Immunovant, Inc.<sup>(a)</sup> | 11524 | 299624 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Inhibikase Therapeutics, Inc.<sup>(a)(b)</sup> | 6891 | $10337 |
| Inhibrx Biosciences, Inc.<sup>(a)(b)</sup> | 1426 | 108761 |
| Inmune Bio, Inc.<sup>(a)(b)</sup> | 2296 | 3651 |
| Insmed, Inc.<sup>(a)</sup> | 33039 | 5182828 |
| Intellia Therapeutics, Inc.<sup>(a)(b)</sup> | 15631 | 205548 |
| Ionis Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 24973 | 2064518 |
| Iovance Biotherapeutics, Inc.<sup>(a)(b)</sup> | 38501 | 98178 |
| Ironwood Pharmaceuticals, Inc., Class A<sup>(a)</sup> | 28832 | 140988 |
| Jade Biosciences, Inc.<sup>(b)</sup> | 7147 | 111565 |
| Janux Therapeutics, Inc.<sup>(a)</sup> | 6093 | 83535 |
| KalVista Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 6156 | 96095 |
| Keros Therapeutics, Inc.<sup>(a)</sup> | 5078 | 90947 |
| Kodiak Sciences, Inc.<sup>(a)</sup> | 5314 | 121000 |
| Korro Bio, Inc.<sup>(a)(b)</sup> | 1629 | 21715 |
| Krystal Biotech, Inc.<sup>(a)</sup> | 3886 | 1085127 |
| Kura Oncology, Inc.<sup>(a)</sup> | 11320 | 91918 |
| Kymera Therapeutics, Inc.<sup>(a)</sup> | 8905 | 647304 |
| Larimar Therapeutics, Inc.<sup>(a)</sup> | 5058 | 17905 |
| Lexeo Therapeutics, Inc.<sup>(a)</sup> | 10284 | 76204 |
| Madrigal Pharmaceuticals, Inc.<sup>(a)</sup> | 2933 | 1435146 |
| MannKind Corp.<sup>(a)</sup> | 45219 | 261366 |
| MapLight Therapeutics, Inc.<sup>(a)</sup> | 2663 | 47108 |
| MeiraGTx Holdings PLC<sup>(a)(b)</sup> | 6408 | 48765 |
| MiMedx Group, Inc.<sup>(a)</sup> | 18447 | 94264 |
| Mineralys Therapeutics, Inc.<sup>(a)</sup> | 7332 | 226485 |
| Mirum Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 6585 | 679704 |
| Monopar Therapeutics, Inc.<sup>(a)(b)</sup> | 593 | 35805 |
| Monte Rosa Therapeutics, Inc.<sup>(a)</sup> | 8087 | 165945 |
| Myriad Genetics, Inc.<sup>(a)</sup> | 14428 | 81085 |
| Neurocrine Biosciences, Inc.<sup>(a)</sup> | 15263 | 2076684 |
| Neurogene, Inc.<sup>(a)</sup> | 1645 | 29051 |
| Nkarta, Inc.<sup>(a)</sup> | 5860 | 13009 |
| Novavax, Inc.<sup>(a)(b)</sup> | 22582 | 199738 |
| Nurix Therapeutics, Inc.<sup>(a)</sup> | 15817 | 261297 |
| Nuvalent, Inc., Class A<sup>(a)(b)</sup> | 7867 | 809436 |
| Nuvectis Pharma, Inc.<sup>(a)(b)</sup> | 2341 | 18986 |
| Olema Pharmaceuticals, Inc.<sup>(a)</sup> | 9593 | 246732 |
| Organogenesis Holdings, Inc.<sup>(a)</sup> | 10612 | 42448 |
| ORIC Pharmaceuticals, Inc.<sup>(a)</sup> | 9332 | 95746 |
| Oruka Therapeutics, Inc.<sup>(a)</sup> | 6053 | 207194 |
| Palvella Therapeutics, Inc.<sup>(a)</sup> | 1056 | 80985 |
| Perspective Therapeutics, Inc.<sup>(a)</sup> | 7773 | 29460 |
| Praxis Precision Medicines, Inc.<sup>(a)</sup> | 3846 | 1207644 |
| Precigen, Inc.<sup>(a)(b)</sup> | 30374 | 136379 |
| Prime Medicine, Inc.<sup>(a)(b)</sup> | 17439 | 66443 |
| Protagonist Therapeutics, Inc.<sup>(a)(b)</sup> | 9118 | 745852 |
| Protalix BioTherapeutics, Inc.<sup>(a)(b)</sup> | 12426 | 29077 |
| Protara Therapeutics, Inc.<sup>(a)(b)</sup> | 4023 | 28483 |
| Prothena Corp. PLC<sup>(a)</sup> | 5972 | 52613 |
| PTC Therapeutics, Inc.<sup>(a)</sup> | 12183 | 920182 |
| Puma Biotechnology, Inc.<sup>(a)(b)</sup> | 4977 | 32251 |
| Recursion Pharmaceuticals, Inc., Class A<sup>(a)(b)</sup> | 58982 | 247135 |
| REGENXBIO, Inc.<sup>(a)(b)</sup> | 7263 | 81055 |
| Relay Therapeutics, Inc.<sup>(a)</sup> | 23559 | 180462 |
| Replimune Group, Inc.<sup>(a)</sup> | 10286 | 72311 |
| Revolution Medicines, Inc.<sup>(a)</sup> | 27317 | 2648383 |
| Rezolute, Inc.<sup>(a)(b)</sup> | 13505 | 45107 |
| Rhythm Pharmaceuticals, Inc.<sup>(a)</sup> | 8231 | 843842 |
| Rigel Pharmaceuticals, Inc.<sup>(a)</sup> | 2629 | 91647 |
| Rocket Pharmaceuticals, Inc.<sup>(a)</sup> | 12490 | 43465 |
| Roivant Sciences Ltd.<sup>(a)</sup> | 62309 | 1347121 |
| Sana Biotechnology, Inc.<sup>(a)(b)</sup> | 26839 | 118897 |
| Sarepta Therapeutics, Inc.<sup>(a)</sup> | 14083 | 286448 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Savara, Inc.<sup>(a)</sup> | 20260 | $109404 |
| Scholar Rock Holding Corp.<sup>(a)</sup> | 13172 | 584046 |
| SELLAS Life Sciences Group, Inc.<sup>(a)(b)</sup> | 16387 | 61779 |
| Sionna Therapeutics, Inc.<sup>(a)</sup> | 2687 | 113553 |
| Soleno Therapeutics, Inc.<sup>(a)(b)</sup> | 7399 | 285305 |
| Solid Biosciences, Inc.<sup>(a)</sup> | 10233 | 66105 |
| Spyre Therapeutics, Inc.<sup>(a)(b)</sup> | 10865 | 347463 |
| Stoke Therapeutics, Inc.<sup>(a)(b)</sup> | 7162 | 217295 |
| Summit Therapeutics, Inc.<sup>(a)(b)</sup> | 19121 | 276872 |
| Syndax Pharmaceuticals, Inc.<sup>(a)</sup> | 12688 | 257693 |
| Tango Therapeutics, Inc.<sup>(a)(b)</sup> | 17105 | 198589 |
| Taysha Gene Therapies, Inc.<sup>(a)(b)</sup> | 35003 | 157864 |
| Tectonic Therapeutic, Inc.<sup>(a)(b)</sup> | 1775 | 35482 |
| TG Therapeutics, Inc.<sup>(a)</sup> | 22217 | 653846 |
| Tonix Pharmaceuticals Holding Corp.<sup>(a)(b)</sup> | 1194 | 20585 |
| Travere Therapeutics, Inc.<sup>(a)</sup> | 12797 | 397859 |
| TriSalus Life Sciences, Inc.<sup>(a)(b)</sup> | 4408 | 21908 |
| TuHURA Biosciences, Inc.<sup>(a)(b)</sup> | 3716 | 1988 |
| Twist Bioscience Corp.<sup>(a)(b)</sup> | 9180 | 377023 |
| Tyra Biosciences, Inc.<sup>(a)</sup> | 3517 | 108394 |
| Ultragenyx Pharmaceutical, Inc.<sup>(a)</sup> | 14871 | 357945 |
| United Therapeutics Corp.<sup>(a)</sup> | 6690 | 3140888 |
| Upstream Bio, Inc.<sup>(a)</sup> | 5366 | 166775 |
| UroGen Pharma Ltd.<sup>(a)</sup> | 5463 | 107129 |
| Vanda Pharmaceuticals, Inc.<sup>(a)</sup> | 9557 | 72060 |
| Vaxcyte, Inc.<sup>(a)</sup> | 17996 | 964046 |
| Vera Therapeutics, Inc., Class A<sup>(a)</sup> | 8741 | 378136 |
| Veracyte, Inc.<sup>(a)</sup> | 12004 | 457112 |
| Verastem, Inc.<sup>(a)</sup> | 6853 | 41803 |
| Vericel Corp.<sup>(a)</sup> | 7556 | 271865 |
| Viking Therapeutics, Inc.<sup>(a)(b)</sup> | 17693 | 513805 |
| Vir Biotechnology, Inc.<sup>(a)</sup> | 14121 | 105060 |
| Viridian Therapeutics, Inc.<sup>(a)</sup> | 12595 | 415635 |
| Voyager Therapeutics, Inc.<sup>(a)</sup> | 6114 | 23845 |
| Xencor, Inc.<sup>(a)</sup> | 10315 | 124708 |
| Xenon Pharmaceuticals, Inc.<sup>(a)</sup> | 11680 | 478997 |
| XOMA Royalty Corp.<sup>(a)(b)</sup> | 1120 | 28739 |
| Zenas Biopharma, Inc.<sup>(a)(b)</sup> | 2606 | 47872 |
| Zymeworks, Inc.<sup>(a)(b)</sup> | 7470 | 168299 |
|  |  | 66567662 |
| **Broadline Retail — 0.3%** | **Broadline Retail — 0.3%** |  |
| Dillard's, Inc., Class A<sup>(b)</sup> | 470 | 285553 |
| Etsy, Inc.<sup>(a)</sup> | 15489 | 820297 |
| Groupon, Inc.<sup>(a)(b)</sup> | 3702 | 52383 |
| Kohl's Corp. | 15879 | 277406 |
| Macy's, Inc. | 42136 | 843563 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> | 9592 | 1058094 |
| Savers Value Village, Inc.<sup>(a)(b)</sup> | 6313 | 65403 |
|  |  | 3402699 |
| **Building Products — 1.7%** | **Building Products — 1.7%** |  |
| A.O. Smith Corp. | 17787 | 1307167 |
| AAON, Inc. | 10646 | 969425 |
| Advanced Drainage Systems, Inc. | 11268 | 1713187 |
| Allegion PLC | 13385 | 2213745 |
| American Woodmark Corp.<sup>(a)</sup> | 2309 | 137131 |
| Apogee Enterprises, Inc. | 3339 | 123977 |
| Armstrong World Industries, Inc. | 6721 | 1234916 |
| AZZ, Inc. | 4403 | 547249 |
| CSW Industrials, Inc.<sup>(b)</sup> | 2553 | 689259 |
| Fortune Brands Innovations, Inc. | 19526 | 1056357 |
| Gibraltar Industries, Inc.<sup>(a)</sup> | 4506 | 230977 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Building Products (continued)** | **Building Products (continued)** |  |
| Griffon Corp. | 6212 | $505967 |
| Hayward Holdings, Inc.<sup>(a)</sup> | 32150 | 518901 |
| Insteel Industries, Inc. | 2821 | 93488 |
| Janus International Group, Inc.<sup>(a)</sup> | 21117 | 144863 |
| JELD-WEN Holding, Inc.<sup>(a)</sup> | 12764 | 34718 |
| Masterbrand, Inc.<sup>(a)(b)</sup> | 19399 | 235116 |
| Modine Manufacturing Co.<sup>(a)</sup> | 8160 | 1506826 |
| Owens Corning | 13279 | 1591355 |
| Quanex Building Products Corp. | 7094 | 132800 |
| Resideo Technologies, Inc.<sup>(a)</sup> | 20388 | 698493 |
| Simpson Manufacturing Co., Inc. | 6599 | 1166571 |
| Tecnoglass, Inc. | 4359 | 213199 |
| Trex Co., Inc.<sup>(a)</sup> | 16707 | 692004 |
| UFP Industries, Inc. | 9151 | 945115 |
| Zurn Elkay Water Solutions Corp. | 23600 | 1088196 |
|  |  | 19791002 |
| **Capital Markets — 2.9%** | **Capital Markets — 2.9%** |  |
| Acadian Asset Management, Inc. | 4657 | 258091 |
| Affiliated Managers Group, Inc. | 4379 | 1371021 |
| AlTi Global, Inc., Class A<sup>(a)(b)</sup> | 7870 | 36910 |
| Artisan Partners Asset Management, Inc., Class A | 11121 | 495107 |
| Bakkt, Inc., Class A<sup>(a)(b)</sup> | 2479 | 33194 |
| BGC Group, Inc., Class A | 59361 | 540779 |
| Bullish<sup>(a)(b)</sup> | 5518 | 166644 |
| Carlyle Group, Inc. | 42067 | 2472698 |
| Cohen & Steers, Inc. | 4595 | 295275 |
| Diamond Hill Investment Group, Inc., Class A | 590 | 101096 |
| DigitalBridge Group, Inc., Class A | 28986 | 446095 |
| Donnelley Financial Solutions, Inc.<sup>(a)</sup> | 4096 | 211968 |
| Evercore, Inc., Class A | 5813 | 2053558 |
| FactSet Research Systems, Inc. | 5918 | 1505302 |
| Forge Global Holdings, Inc.<sup>(a)</sup> | 1990 | 88953 |
| Franklin Resources, Inc. | 50023 | 1331612 |
| Freedom Holding Corp.<sup>(a)(b)</sup> | 2779 | 343762 |
| GCM Grosvenor, Inc., Class A | 7820 | 88522 |
| Hamilton Lane, Inc., Class A | 6376 | 900546 |
| Houlihan Lokey, Inc., Class A | 8683 | 1461523 |
| Innventure, Inc.<sup>(a)(b)</sup> | 6688 | 22004 |
| Invesco Ltd. | 58025 | 1583502 |
| Janus Henderson Group PLC | 20605 | 991719 |
| Jefferies Financial Group, Inc. | 24430 | 1494627 |
| Lazard, Inc. | 15265 | 820036 |
| Marex Group PLC | 8813 | 347937 |
| MarketAxess Holdings, Inc. | 5603 | 948196 |
| MarketWise, Inc., Class A | 640 | 10592 |
| Miami International Holdings, Inc.<sup>(a)</sup> | 4101 | 171135 |
| Moelis & Co., Class A | 5617 | 402570 |
| Morningstar, Inc. | 3596 | 726716 |
| Open Lending Corp.<sup>(a)</sup> | 15919 | 28495 |
| P10, Inc., Class A | 7871 | 84849 |
| Patria Investments Ltd., Class A | 10041 | 146699 |
| Perella Weinberg Partners | 9636 | 214979 |
| Piper Sandler Cos. | 2833 | 981210 |
| PJT Partners, Inc., Class A | 3853 | 666685 |
| SEI Investments Co. | 16612 | 1459364 |
| Siebert Financial Corp.<sup>(a)</sup> | 2509 | 7452 |
| Silvercrest Asset Management Group, Inc., Class A | 2576 | 37970 |
| StepStone Group, Inc., Class A | 11290 | 798090 |
| Stifel Financial Corp. | 16341 | 2014845 |
| StoneX Group, Inc.<sup>(a)</sup> | 7765 | 871699 |
| Strive, Inc., Class A<sup>(a)</sup> | 48267 | 39632 |
| TPG, Inc., Class A | 21237 | 1251072 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** |  |
| Value Line, Inc. | 72 | $2699 |
| Victory Capital Holdings, Inc., Class A | 7278 | 513317 |
| Virtu Financial, Inc., Class A | 12567 | 521656 |
| Virtus Investment Partners, Inc. | 1308 | 213531 |
| Webull Corp.<sup>(a)</sup> | 42899 | 301580 |
| Westwood Holdings Group, Inc. | 1819 | 33306 |
| WisdomTree, Inc. | 19268 | 312142 |
| XP, Inc., Class A | 62382 | 1217073 |
|  |  | 33440035 |
| **Chemicals — 1.8%** | **Chemicals — 1.8%** |  |
| AdvanSix, Inc. | 4085 | 64706 |
| Albemarle Corp. | 18584 | 3170988 |
| American Vanguard Corp.<sup>(a)</sup> | 4706 | 23906 |
| Arq, Inc.<sup>(a)</sup> | 4881 | 17376 |
| Ashland, Inc. | 7118 | 435337 |
| ASP Isotopes, Inc.<sup>(a)(b)</sup> | 12845 | 81437 |
| Aspen Aerogels, Inc.<sup>(a)</sup> | 9731 | 32793 |
| Avient Corp. | 15597 | 563832 |
| Axalta Coating Systems Ltd.<sup>(a)</sup> | 33456 | 1123453 |
| Balchem Corp. | 5086 | 865485 |
| Cabot Corp. | 8938 | 645234 |
| Celanese Corp., Class A | 17730 | 787921 |
| Chemours Co. | 22896 | 343211 |
| Core Molding Technologies, Inc.<sup>(a)</sup> | 2425 | 47336 |
| Eastman Chemical Co. | 18207 | 1262109 |
| Ecovyst, Inc.<sup>(a)</sup> | 16648 | 176635 |
| Element Solutions, Inc. | 35682 | 1038346 |
| Flotek Industries, Inc.<sup>(a)</sup> | 2355 | 40906 |
| FMC Corp. | 19191 | 303218 |
| Hawkins, Inc. | 2957 | 385149 |
| HB Fuller Co. | 8347 | 501655 |
| Huntsman Corp. | 25432 | 275174 |
| Ingevity Corp.<sup>(a)</sup> | 5567 | 366253 |
| Innospec, Inc. | 3557 | 290678 |
| Intrepid Potash, Inc.<sup>(a)(b)</sup> | 1632 | 53595 |
| Koppers Holdings, Inc. | 3134 | 92328 |
| Kronos Worldwide, Inc. | 3945 | 20711 |
| LSB Industries, Inc.<sup>(a)</sup> | 8794 | 81696 |
| Mativ Holdings, Inc. | 8107 | 97689 |
| Minerals Technologies, Inc. | 4756 | 312755 |
| Mosaic Co. | 49611 | 1364303 |
| NewMarket Corp. | 869 | 582917 |
| Olin Corp. | 19315 | 401945 |
| Orion SA | 8810 | 54446 |
| Perimeter Solutions, Inc.<sup>(a)</sup> | 21267 | 556132 |
| PureCycle Technologies, Inc.<sup>(a)(b)</sup> | 20078 | 191946 |
| Quaker Chemical Corp. | 2320 | 356677 |
| Rayonier Advanced Materials, Inc.<sup>(a)(b)</sup> | 9905 | 76863 |
| RPM International, Inc. | 20141 | 2154281 |
| Scotts Miracle-Gro Co. | 6783 | 435604 |
| Sensient Technologies Corp. | 6653 | 628842 |
| Solesence, Inc.<sup>(a)</sup> | 2587 | 3492 |
| Stepan Co. | 3026 | 174328 |
| Trinseo PLC | 5586 | 2514 |
| Tronox Holdings PLC | 18292 | 110850 |
| Valhi, Inc. | 773 | 10969 |
|  |  | 20608021 |
| **Commercial Services & Supplies — 1.0%** | **Commercial Services & Supplies — 1.0%** |  |
| ABM Industries, Inc. | 10012 | 460953 |
| ACCO Brands Corp. | 11796 | 46122 |
| ACV Auctions, Inc., Class A<sup>(a)</sup> | 25361 | 198069 |
| BrightView Holdings, Inc.<sup>(a)</sup> | 9980 | 133333 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |  |
| Brink's Co. | 6537 | $830461 |
| Casella Waste Systems, Inc., Class A<sup>(a)(b)</sup> | 9723 | 980856 |
| Cimpress PLC<sup>(a)</sup> | 2829 | 223746 |
| Clean Harbors, Inc.<sup>(a)</sup> | 8069 | 2097214 |
| CompX International, Inc., Class A | 59 | 1375 |
| CoreCivic, Inc.<sup>(a)</sup> | 16061 | 297610 |
| Deluxe Corp. | 7116 | 187862 |
| Ennis, Inc. | 3613 | 70417 |
| Enviri Corp.<sup>(a)</sup> | 12023 | 227475 |
| GEO Group, Inc.<sup>(a)</sup> | 20642 | 329859 |
| Healthcare Services Group, Inc.<sup>(a)</sup> | 11309 | 212835 |
| HNI Corp. | 9811 | 468868 |
| Interface, Inc., Class A | 8942 | 281405 |
| Liquidity Services, Inc.<sup>(a)</sup> | 3621 | 115872 |
| MillerKnoll, Inc. | 10718 | 215217 |
| Montrose Environmental Group, Inc.<sup>(a)</sup> | 4905 | 109283 |
| MSA Safety, Inc. | 5810 | 1029242 |
| NL Industries, Inc. | 1499 | 9114 |
| OPENLANE, Inc.<sup>(a)</sup> | 16365 | 491605 |
| Perma-Fix Environmental Services, Inc.<sup>(a)(b)</sup> | 2512 | 38358 |
| Pitney Bowes, Inc. | 7542 | 78663 |
| Quad/Graphics, Inc., Class A | 5703 | 34902 |
| Tetra Tech, Inc. | 41766 | 1572908 |
| UniFirst Corp. | 2307 | 496005 |
| Vestis Corp. | 17647 | 115235 |
| Virco Mfg. Corp. | 1166 | 8150 |
|  |  | 11363014 |
| **Communications Equipment**<sup>(a)</sup> **— 1.5%** | **Communications Equipment**<sup>(a)</sup> **— 1.5%** |  |
| ADTRAN Holdings, Inc. | 12027 | 110889 |
| Applied Optoelectronics, Inc.<sup>(b)</sup> | 9615 | 419310 |
| Aviat Networks, Inc. | 1545 | 33697 |
| BK Technologies Corp. | 311 | 23723 |
| Calix, Inc. | 9708 | 433657 |
| Ciena Corp. | 22273 | 5608564 |
| Clearfield, Inc. | 1869 | 55640 |
| Digi International, Inc. | 5473 | 235722 |
| Extreme Networks, Inc. | 21457 | 312843 |
| F5, Inc.<sup>(b)</sup> | 9138 | 2518524 |
| Harmonic, Inc. | 16762 | 162927 |
| Inseego Corp.<sup>(b)</sup> | 1724 | 18774 |
| Lumentum Holdings, Inc.<sup>(b)</sup> | 11124 | 4358828 |
| NETGEAR, Inc.<sup>(b)</sup> | 4366 | 91293 |
| NetScout Systems, Inc. | 10278 | 285831 |
| Ribbon Communications, Inc. | 14429 | 37804 |
| Viasat, Inc. | 19453 | 878692 |
| Viavi Solutions, Inc. | 33799 | 826724 |
| Vistance Networks, Inc. | 34363 | 618534 |
|  |  | 17031976 |
| **Construction & Engineering — 2.8%** | **Construction & Engineering — 2.8%** |  |
| AECOM | 20691 | 1995233 |
| Ameresco, Inc., Class A<sup>(a)</sup> | 4984 | 156199 |
| API Group Corp.<sup>(a)</sup> | 58240 | 2421037 |
| Arcosa, Inc. | 7658 | 876611 |
| Argan, Inc. | 2133 | 740386 |
| Bowman Consulting Group Ltd.<sup>(a)</sup> | 2091 | 72829 |
| Centuri Holdings, Inc.<sup>(a)</sup> | 12526 | 345718 |
| Comfort Systems USA, Inc. | 5483 | 6262134 |
| Concrete Pumping Holdings, Inc.<sup>(a)</sup> | 3411 | 19716 |
| Construction Partners, Inc., Class A<sup>(a)(b)</sup> | 7350 | 807618 |
| Dycom Industries, Inc.<sup>(a)</sup> | 4378 | 1595299 |
| EMCOR Group, Inc. | 6972 | 5024930 |
| Everus Construction Group, Inc.<sup>(a)</sup> | 8069 | 714026 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Construction & Engineering (continued)** | **Construction & Engineering (continued)** |  |
| Fluor Corp.<sup>(a)</sup> | 25317 | $1169392 |
| Granite Construction, Inc. | 6956 | 839867 |
| Great Lakes Dredge & Dock Corp.<sup>(a)</sup> | 10072 | 150879 |
| IES Holdings, Inc.<sup>(a)</sup> | 1441 | 547998 |
| Legence Corp., Class A<sup>(a)</sup> | 5888 | 276206 |
| Limbach Holdings, Inc.<sup>(a)</sup> | 1576 | 135504 |
| MasTec, Inc.<sup>(a)</sup> | 9901 | 2380992 |
| Matrix Service Co.<sup>(a)</sup> | 3991 | 57151 |
| MYR Group, Inc.<sup>(a)</sup> | 2379 | 594845 |
| NWPX Infrastructure, Inc.<sup>(a)</sup> | 1333 | 89911 |
| Orion Group Holdings, Inc.<sup>(a)</sup> | 5778 | 70607 |
| Primoris Services Corp. | 8487 | 1258198 |
| Sterling Infrastructure, Inc.<sup>(a)</sup> | 4638 | 1659987 |
| Tutor Perini Corp. | 6878 | 542605 |
| Valmont Industries, Inc. | 3134 | 1396385 |
| WillScot Holdings Corp., Class A | 29095 | 582773 |
|  |  | 32785036 |
| **Construction Materials — 0.2%** | **Construction Materials — 0.2%** |  |
| Eagle Materials, Inc. | 5066 | 1032501 |
| James Hardie Industries PLC<sup>(a)(b)</sup> | 23820 | 547622 |
| Knife River Corp.<sup>(a)(b)</sup> | 8956 | 601575 |
| Smith-Midland Corp.<sup>(a)</sup> | 353 | 12404 |
| Titan America SA<sup>(b)</sup> | 3597 | 62444 |
| U.S. Lime & Minerals, Inc. | 1607 | 193692 |
|  |  | 2450238 |
| **Consumer Finance — 1.2%** | **Consumer Finance — 1.2%** |  |
| Ally Financial, Inc. | 44914 | 1898964 |
| Atlanticus Holdings Corp.<sup>(a)(b)</sup> | 1005 | 51888 |
| Bread Financial Holdings, Inc. | 3607 | 261652 |
| Consumer Portfolio Services, Inc.<sup>(a)(b)</sup> | 1657 | 14300 |
| Credit Acceptance Corp.<sup>(a)(b)</sup> | 735 | 366206 |
| Dave, Inc., Class A<sup>(a)</sup> | 1637 | 267961 |
| Encore Capital Group, Inc.<sup>(a)</sup> | 3656 | 201811 |
| Enova International, Inc.<sup>(a)</sup> | 3809 | 629133 |
| Figure Technology Solutions, Inc., Class A<sup>(a)(b)</sup> | 5652 | 321486 |
| FirstCash Holdings, Inc. | 6310 | 1075855 |
| Green Dot Corp., Class A<sup>(a)</sup> | 8647 | 105320 |
| Jefferson Capital, Inc. | 3054 | 65264 |
| LendingClub Corp.<sup>(a)</sup> | 17974 | 303940 |
| LendingTree, Inc.<sup>(a)</sup> | 1671 | 94679 |
| Medallion Financial Corp. | 3591 | 36951 |
| Navient Corp. | 12965 | 127187 |
| Nelnet, Inc., Class A | 1876 | 247444 |
| NerdWallet, Inc., Class A<sup>(a)</sup> | 6125 | 73867 |
| OneMain Holdings, Inc. | 19352 | 1268330 |
| Oportun Financial Corp.<sup>(a)</sup> | 5406 | 29301 |
| OppFi, Inc., Class A | 3713 | 35348 |
| PRA Group, Inc.<sup>(a)</sup> | 6204 | 79349 |
| PROG Holdings, Inc. | 6186 | 200674 |
| Regional Management Corp. | 1483 | 54945 |
| SLM Corp. | 32657 | 886638 |
| SoFi Technologies, Inc.<sup>(a)</sup> | 191914 | 4377558 |
| Upstart Holdings, Inc.<sup>(a)(b)</sup> | 13273 | 520965 |
| World Acceptance Corp.<sup>(a)</sup> | 390 | 47288 |
|  |  | 13644304 |
| **Consumer Staples Distribution & Retail — 1.4%** | **Consumer Staples Distribution & Retail — 1.4%** |  |
| Albertsons Cos., Inc., Class A | 63951 | 1064784 |
| Andersons, Inc. | 5149 | 319187 |
| BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> | 20647 | 1908609 |
| Casey's General Stores, Inc. | 5811 | 3524371 |
| Chefs' Warehouse, Inc.<sup>(a)</sup> | 5434 | 341799 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Consumer Staples Distribution & Retail (continued)** | **Consumer Staples Distribution & Retail (continued)** |  |
| Grocery Outlet Holding Corp.<sup>(a)(b)</sup> | 14582 | $138966 |
| HF Foods Group, Inc.<sup>(a)</sup> | 4561 | 8712 |
| Ingles Markets, Inc., Class A | 2056 | 153912 |
| Maplebear, Inc.<sup>(a)</sup> | 27120 | 1007779 |
| Natural Grocers by Vitamin Cottage, Inc. | 1981 | 54121 |
| Performance Food Group Co.<sup>(a)</sup> | 24073 | 2297768 |
| PriceSmart, Inc. | 4078 | 579932 |
| Sprouts Farmers Market, Inc.<sup>(a)(b)</sup> | 15195 | 1077477 |
| U.S. Foods Holding Corp.<sup>(a)</sup> | 35413 | 2961235 |
| United Natural Foods, Inc.<sup>(a)</sup> | 9008 | 335368 |
| Village Super Market, Inc., Class A | 1242 | 44290 |
| Weis Markets, Inc. | 2437 | 173393 |
|  |  | 15991703 |
| **Containers & Packaging — 1.1%** | **Containers & Packaging — 1.1%** |  |
| AptarGroup, Inc. | 10184 | 1272491 |
| Ardagh Metal Packaging SA | 22303 | 97910 |
| Avery Dennison Corp. | 12091 | 2243001 |
| Crown Holdings, Inc. | 18100 | 1894708 |
| Graphic Packaging Holding Co. | 45561 | 667469 |
| Greif, Inc., Class A | 3975 | 280715 |
| Greif, Inc., Class B | 651 | 54150 |
| Myers Industries, Inc. | 5877 | 121478 |
| O-I Glass, Inc.<sup>(a)</sup> | 23037 | 352005 |
| Packaging Corp. of America | 13948 | 3104127 |
| Ranpak Holdings Corp.<sup>(a)(b)</sup> | 7379 | 37190 |
| Sealed Air Corp. | 22594 | 946237 |
| Silgan Holdings, Inc. | 14260 | 615319 |
| Sonoco Products Co. | 15421 | 740208 |
| TriMas Corp. | 5058 | 175867 |
|  |  | 12602875 |
| **Distributors — 0.3%** | **Distributors — 0.3%** |  |
| GigaCloud Technology, Inc., Class A<sup>(a)</sup> | 4044 | 161477 |
| Gold.com, Inc. | 2892 | 149950 |
| LKQ Corp. | 40809 | 1340576 |
| Pool Corp. | 5218 | 1325841 |
| Weyco Group, Inc. | 661 | 20901 |
|  |  | 2998745 |
| **Diversified Consumer Services — 1.0%** | **Diversified Consumer Services — 1.0%** |  |
| ADT, Inc. | 80636 | 645088 |
| Adtalem Global Education, Inc.<sup>(a)</sup> | 5652 | 585265 |
| American Public Education, Inc.<sup>(a)(b)</sup> | 2577 | 107667 |
| Bright Horizons Family Solutions, Inc.<sup>(a)</sup> | 8905 | 824870 |
| Carriage Services, Inc. | 1857 | 79684 |
| Coursera, Inc.<sup>(a)</sup> | 21039 | 127496 |
| Driven Brands Holdings, Inc.<sup>(a)</sup> | 9043 | 140619 |
| Duolingo, Inc., Class A<sup>(a)</sup> | 6024 | 807577 |
| European Wax Center, Inc., Class A<sup>(a)</sup> | 3470 | 13637 |
| Frontdoor, Inc.<sup>(a)</sup> | 11298 | 667825 |
| Graham Holdings Co., Class B | 497 | 579815 |
| Grand Canyon Education, Inc.<sup>(a)</sup> | 4366 | 758985 |
| H&R Block, Inc. | 20039 | 790539 |
| KinderCare Learning Cos., Inc.<sup>(a)</sup> | 4770 | 22276 |
| Laureate Education, Inc., Class A<sup>(a)</sup> | 19869 | 681507 |
| Liberty Live Holdings, Inc., Class A<sup>(a)</sup> | 3162 | 254351 |
| Liberty Live Holdings, Inc., Class C<sup>(a)</sup> | 7379 | 609358 |
| Lincoln Educational Services Corp.<sup>(a)</sup> | 4346 | 115864 |
| Matthews International Corp., Class A | 4451 | 117017 |
| McGraw Hill, Inc.<sup>(a)</sup> | 5065 | 74709 |
| Mister Car Wash, Inc.<sup>(a)</sup> | 14384 | 79831 |
| Nerdy, Inc.<sup>(a)(b)</sup> | 12166 | 11923 |
| OneSpaWorld Holdings Ltd. | 15821 | 310883 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Diversified Consumer Services (continued)** | **Diversified Consumer Services (continued)** |  |
| Perdoceo Education Corp. | 10048 | $321837 |
| Phoenix Education Partners, Inc. | 963 | 29381 |
| Service Corp. International | 21623 | 1739138 |
| Strategic Education, Inc. | 3640 | 309473 |
| Stride, Inc.<sup>(a)</sup> | 6704 | 567158 |
| Udemy, Inc.<sup>(a)</sup> | 14004 | 67359 |
| Universal Technical Institute, Inc.<sup>(a)</sup> | 7798 | 217018 |
|  |  | 11658150 |
| **Diversified REITs — 0.2%** | **Diversified REITs — 0.2%** |  |
| Alexander & Baldwin, Inc. | 11190 | 232081 |
| Alpine Income Property Trust, Inc. | 860 | 15153 |
| American Assets Trust, Inc. | 8134 | 146900 |
| Armada Hoffler Properties, Inc. | 11261 | 78489 |
| Broadstone Net Lease, Inc. | 29451 | 545138 |
| CTO Realty Growth, Inc. | 4002 | 71116 |
| Essential Properties Realty Trust, Inc. | 30621 | 929654 |
| Gladstone Commercial Corp. | 6470 | 75375 |
| Global Net Lease, Inc. | 29955 | 283374 |
| Modiv Industrial, Inc., Class C | 2033 | 31146 |
| NexPoint Diversified Real Estate Trust | 4070 | 19495 |
|  |  | 2427921 |
| **Diversified Telecommunication Services — 0.7%** | **Diversified Telecommunication Services — 0.7%** |  |
| Anterix, Inc.<sup>(a)</sup> | 1888 | 49588 |
| AST SpaceMobile, Inc., Class A<sup>(a)(b)</sup> | 34778 | 3867661 |
| ATN International, Inc. | 1101 | 26633 |
| Bandwidth, Inc., Class A<sup>(a)</sup> | 4060 | 56718 |
| Cogent Communications Holdings, Inc. | 8271 | 200985 |
| GCI Liberty, Inc., Class A<sup>(a)</sup> | 663 | 24843 |
| GCI Liberty, Inc., Class C<sup>(a)</sup> | 4839 | 178995 |
| Globalstar, Inc.<sup>(a)(b)</sup> | 7990 | 492344 |
| IDT Corp., Class B | 2503 | 121721 |
| Iridium Communications, Inc. | 14445 | 287744 |
| Liberty Global Ltd., Class A<sup>(a)</sup> | 28727 | 318583 |
| Liberty Global Ltd., Class C<sup>(a)</sup> | 21161 | 234464 |
| Liberty Latin America Ltd., Class A<sup>(a)</sup> | 7788 | 60123 |
| Liberty Latin America Ltd., Class C<sup>(a)(b)</sup> | 16067 | 125001 |
| Lumen Technologies, Inc.<sup>(a)(b)</sup> | 149105 | 1315106 |
| Shenandoah Telecommunications Co. | 7743 | 91910 |
| Uniti Group, Inc.<sup>(a)</sup> | 26636 | 221612 |
|  |  | 7674031 |
| **Electric Utilities — 0.8%** | **Electric Utilities — 0.8%** |  |
| Genie Energy Ltd., Class B | 3246 | 44697 |
| Hawaiian Electric Industries, Inc.<sup>(a)</sup> | 26566 | 406991 |
| IDACORP, Inc. | 8498 | 1128449 |
| MGE Energy, Inc. | 5543 | 442775 |
| OGE Energy Corp. | 32271 | 1409597 |
| Oklo, Inc., Class A<sup>(a)</sup> | 16839 | 1340721 |
| Otter Tail Corp. | 6210 | 553684 |
| Pinnacle West Capital Corp. | 18973 | 1775114 |
| Portland General Electric Co. | 17919 | 900430 |
| TXNM Energy, Inc. | 15525 | 914733 |
|  |  | 8917191 |
| **Electrical Equipment — 2.0%** | **Electrical Equipment — 2.0%** |  |
| Acuity, Inc. | 4866 | 1504762 |
| Allient, Inc. | 2251 | 137334 |
| American Superconductor Corp.<sup>(a)</sup> | 6858 | 205191 |
| Amprius Technologies, Inc.<sup>(a)</sup> | 17811 | 221569 |
| Array Technologies, Inc.<sup>(a)</sup> | 23242 | 263216 |
| Atkore, Inc. | 5311 | 368849 |
| Bloom Energy Corp., Class A<sup>(a)</sup> | 34174 | 5172918 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Electrical Equipment (continued)** | **Electrical Equipment (continued)** |  |
| EnerSys | 5973 | $1076275 |
| Enovix Corp.<sup>(a)(b)</sup> | 25122 | 166308 |
| Eos Energy Enterprises, Inc., Class A<sup>(a)</sup> | 48311 | 707273 |
| Fluence Energy, Inc., Class A<sup>(a)</sup> | 10253 | 315485 |
| Generac Holdings, Inc.<sup>(a)</sup> | 9095 | 1528324 |
| Hyliion Holdings Corp.<sup>(a)(b)</sup> | 20795 | 42630 |
| KULR Technology Group, Inc.<sup>(a)(b)</sup> | 5324 | 18953 |
| LSI Industries, Inc. | 4093 | 90496 |
| NANO Nuclear Energy, Inc.<sup>(a)(b)</sup> | 6249 | 183689 |
| Net Power, Inc., Class A<sup>(a)(b)</sup> | 4000 | 9480 |
| Nextpower, Inc., Class A<sup>(a)</sup> | 22803 | 2670003 |
| NuScale Power Corp.<sup>(a)</sup> | 19297 | 337312 |
| nVent Electric PLC | 25091 | 2816716 |
| Plug Power, Inc.<sup>(a)(b)</sup> | 176229 | 372724 |
| Powell Industries, Inc. | 1536 | 681354 |
| Power Solutions International, Inc.<sup>(a)(b)</sup> | 1500 | 107490 |
| Preformed Line Products Co. | 368 | 92346 |
| Regal Rexnord Corp. | 10499 | 1695588 |
| Sensata Technologies Holding PLC | 23664 | 818538 |
| Shoals Technologies Group, Inc., Class A<sup>(a)(b)</sup> | 25632 | 241966 |
| SKYX Platforms Corp.<sup>(a)</sup> | 9577 | 23943 |
| SunPower, Inc.<sup>(a)</sup> | 7432 | 12783 |
| Sunrun, Inc.<sup>(a)</sup> | 35027 | 665513 |
| T1 Energy, Inc.<sup>(a)</sup> | 22992 | 191523 |
| Thermon Group Holdings, Inc.<sup>(a)</sup> | 4968 | 224802 |
| Vicor Corp.<sup>(a)</sup> | 3451 | 544119 |
|  |  | 23509472 |
| **Electronic Equipment, Instruments & Components — 3.3%** | **Electronic Equipment, Instruments & Components — 3.3%** |  |
| 908 Devices, Inc.<sup>(a)(b)</sup> | 3169 | 19996 |
| Advanced Energy Industries, Inc. | 5911 | 1509433 |
| Aeva Technologies, Inc.<sup>(a)(b)</sup> | 7033 | 89811 |
| Arlo Technologies, Inc.<sup>(a)</sup> | 14970 | 189969 |
| Arrow Electronics, Inc.<sup>(a)</sup> | 8108 | 1074229 |
| Avnet, Inc. | 13112 | 818058 |
| Badger Meter, Inc. | 4653 | 682037 |
| Bel Fuse, Inc., Class A | 234 | 42998 |
| Bel Fuse, Inc., Class B | 1576 | 317075 |
| Belden, Inc. | 6321 | 742781 |
| Benchmark Electronics, Inc. | 5535 | 288595 |
| Climb Global Solutions, Inc. | 653 | 77439 |
| Cognex Corp. | 26380 | 1021961 |
| Coherent Corp.<sup>(a)</sup> | 24546 | 5208170 |
| Crane NXT Co. | 7621 | 385013 |
| CTS Corp. | 4419 | 227181 |
| Daktronics, Inc.<sup>(a)</sup> | 6272 | 145197 |
| ePlus, Inc. | 4109 | 352593 |
| Evolv Technologies Holdings, Inc., Class A<sup>(a)</sup> | 24301 | 150423 |
| Fabrinet<sup>(a)</sup> | 5639 | 2759952 |
| Flex Ltd.<sup>(a)</sup> | 58056 | 3659850 |
| Frequency Electronics, Inc.<sup>(a)</sup> | 869 | 45692 |
| Ingram Micro Holding Corp.<sup>(b)</sup> | 3988 | 84227 |
| Insight Enterprises, Inc.<sup>(a)</sup> | 4846 | 407161 |
| IPG Photonics Corp.<sup>(a)</sup> | 3879 | 358458 |
| Itron, Inc.<sup>(a)</sup> | 7164 | 709809 |
| Jabil, Inc. | 16668 | 3953483 |
| Kimball Electronics, Inc.<sup>(a)</sup> | 3684 | 111294 |
| Knowles Corp.<sup>(a)</sup> | 13021 | 315629 |
| Littelfuse, Inc. | 3929 | 1272053 |
| Methode Electronics, Inc. | 5604 | 44776 |
| MicroVision, Inc.<sup>(a)(b)</sup> | 33188 | 26969 |
| Mirion Technologies, Inc.<sup>(a)(b)</sup> | 37205 | 924172 |
| M-Tron Industries, Inc.<sup>(a)</sup> | 329 | 21464 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Electronic Equipment, Instruments & Components (continued)** | **Electronic Equipment, Instruments & Components (continued)** |  |
| Napco Security Technologies, Inc. | 5284 | $194927 |
| Neonode, Inc.<sup>(a)</sup> | 1683 | 3046 |
| nLight, Inc.<sup>(a)</sup> | 7336 | 334595 |
| Novanta, Inc.<sup>(a)</sup> | 5733 | 771318 |
| OSI Systems, Inc.<sup>(a)</sup> | 2566 | 641859 |
| Ouster, Inc.<sup>(a)</sup> | 9205 | 191740 |
| PC Connection, Inc. | 1916 | 112680 |
| Plexus Corp.<sup>(a)</sup> | 4275 | 852136 |
| Powerfleet, Inc. NJ<sup>(a)</sup> | 19363 | 98945 |
| Richardson Electronics Ltd. | 1153 | 13940 |
| Rogers Corp.<sup>(a)</sup> | 2783 | 270619 |
| Sanmina Corp.<sup>(a)</sup> | 8214 | 1163760 |
| ScanSource, Inc.<sup>(a)</sup> | 3584 | 154076 |
| TD SYNNEX Corp. | 12215 | 1938154 |
| TTM Technologies, Inc.<sup>(a)</sup> | 15942 | 1565504 |
| Vishay Intertechnology, Inc. | 18473 | 372231 |
| Vishay Precision Group, Inc.<sup>(a)</sup> | 1793 | 89793 |
| Vontier Corp. | 22531 | 844913 |
| Vuzix Corp.<sup>(a)(b)</sup> | 10266 | 27000 |
|  |  | 37679184 |
| **Energy Equipment & Services — 1.3%** | **Energy Equipment & Services — 1.3%** |  |
| Archrock, Inc. | 26923 | 796652 |
| Atlas Energy Solutions, Inc. | 11351 | 132466 |
| Borr Drilling Ltd.<sup>(b)</sup> | 43804 | 205003 |
| Bristow Group, Inc.<sup>(a)</sup> | 4279 | 188105 |
| Cactus, Inc., Class A | 10362 | 582655 |
| Core Laboratories, Inc. | 7274 | 142134 |
| DMC Global, Inc.<sup>(a)</sup> | 2787 | 23968 |
| Energy Services of America Corp. | 2047 | 18443 |
| Expro Group Holdings NV<sup>(a)(b)</sup> | 15493 | 248043 |
| Flowco Holdings, Inc., Class A | 2596 | 54256 |
| Forum Energy Technologies, Inc.<sup>(a)</sup> | 1352 | 61165 |
| Helix Energy Solutions Group, Inc.<sup>(a)</sup> | 21945 | 174243 |
| Helmerich & Payne, Inc. | 14973 | 507285 |
| Innovex International, Inc.<sup>(a)</sup> | 5605 | 139284 |
| Kodiak Gas Services, Inc. | 13469 | 565833 |
| Liberty Energy, Inc., Class A | 24817 | 611739 |
| Mammoth Energy Services, Inc.<sup>(a)</sup> | 3130 | 7324 |
| Nabors Industries Ltd.<sup>(a)</sup> | 2066 | 138091 |
| National Energy Services Reunited Corp.<sup>(a)</sup> | 8702 | 171255 |
| Natural Gas Services Group, Inc. | 1340 | 46418 |
| Noble Corp. PLC | 20454 | 728572 |
| NOV, Inc. | 61267 | 1124249 |
| Oceaneering International, Inc.<sup>(a)</sup> | 15152 | 456075 |
| Oil States International, Inc.<sup>(a)</sup> | 9214 | 78043 |
| Patterson-UTI Energy, Inc. | 55111 | 414986 |
| ProFrac Holding Corp., Class A<sup>(a)</sup> | 1901 | 9904 |
| ProPetro Holding Corp.<sup>(a)</sup> | 12372 | 142154 |
| Ranger Energy Services, Inc., Class A | 2196 | 33862 |
| RPC, Inc. | 13983 | 92987 |
| SEACOR Marine Holdings, Inc.<sup>(a)</sup> | 2135 | 14262 |
| Seadrill Ltd.<sup>(a)</sup> | 10073 | 387609 |
| Select Water Solutions, Inc., Class A | 14290 | 172766 |
| Solaris Energy Infrastructure, Inc., Class A | 6667 | 367952 |
| TechnipFMC PLC | 63314 | 3527856 |
| TETRA Technologies, Inc.<sup>(a)</sup> | 20168 | 229915 |
| Tidewater, Inc.<sup>(a)</sup> | 7740 | 483673 |
| Transocean Ltd.<sup>(a)</sup> | 149535 | 743189 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** |  |
| Valaris Ltd.<sup>(a)</sup> | 9876 | $570142 |
| Weatherford International PLC | 11159 | 1049839 |
|  |  | 15442397 |
| **Entertainment — 0.4%** | **Entertainment — 0.4%** |  |
| AMC Entertainment Holdings, Inc., Class A<sup>(a)(b)</sup> | 66724 | 92746 |
| Atlanta Braves Holdings, Inc., Class A<sup>(a)</sup> | 1302 | 57314 |
| Atlanta Braves Holdings, Inc., Class C<sup>(a)</sup> | 6478 | 258667 |
| Cinemark Holdings, Inc. | 16137 | 382124 |
| CuriosityStream, Inc., Class A | 5521 | 20538 |
| Eventbrite, Inc., Class A<sup>(a)</sup> | 13436 | 59387 |
| Gaia, Inc., Class A<sup>(a)</sup> | 2447 | 8295 |
| Golden Matrix Group, Inc.<sup>(a)(b)</sup> | 1150 | 838 |
| IMAX Corp.<sup>(a)</sup> | 6525 | 227788 |
| Lionsgate Studios Corp.<sup>(a)</sup> | 33912 | 320129 |
| Madison Square Garden Entertainment Corp., <br> Class A<sup>(a)</sup><br>| 5964 | 368993 |
| Madison Square Garden Sports Corp., Class A<sup>(a)</sup> | 2531 | 717665 |
| Marcus Corp. | 3510 | 52966 |
| Playstudios, Inc., Class A<sup>(a)</sup> | 19532 | 12393 |
| Playtika Holding Corp. | 9711 | 35154 |
| Reservoir Media, Inc.<sup>(a)</sup> | 1932 | 14587 |
| Roku, Inc., Class A<sup>(a)</sup> | 20449 | 1946745 |
| Sphere Entertainment Co., Class A<sup>(a)</sup> | 4264 | 407255 |
| Starz Entertainment Corp.<sup>(a)(b)</sup> | 1749 | 17472 |
| Vivid Seats, Inc., Class A<sup>(a)(b)</sup> | 636 | 4636 |
|  |  | 5005692 |
| **Financial Services — 1.7%** | **Financial Services — 1.7%** |  |
| Acacia Research Corp.<sup>(a)</sup> | 3963 | 15773 |
| Affirm Holdings, Inc., Class A<sup>(a)</sup> | 43473 | 2621422 |
| Alerus Financial Corp. | 3558 | 87598 |
| Banco Latinoamericano de Comercio Exterior SA, <br> Class E<br>| 4894 | 237212 |
| Better Home & Finance Holding Co.<sup>(a)(b)</sup> | 746 | 22611 |
| Burford Capital Ltd. | 31796 | 308103 |
| Cannae Holdings, Inc. | 8599 | 123912 |
| Cantaloupe, Inc.<sup>(a)(b)</sup> | 8091 | 86897 |
| Cass Information Systems, Inc. | 1782 | 80119 |
| Compass Diversified Holdings | 10951 | 71948 |
| Enact Holdings, Inc. | 5240 | 208395 |
| Equitable Holdings, Inc. | 28899 | 1340914 |
| Essent Group Ltd. | 15081 | 948896 |
| Euronet Worldwide, Inc.<sup>(a)</sup> | 6510 | 471715 |
| EVERTEC, Inc. | 10462 | 313965 |
| Federal Agricultural Mortgage Corp., Class C | 1526 | 258352 |
| Finance Of America Cos., Inc., Class A<sup>(a)</sup> | 892 | 20775 |
| Flywire Corp.<sup>(a)</sup> | 17718 | 223247 |
| HA Sustainable Infrastructure Capital, Inc. | 19063 | 655958 |
| International Money Express, Inc.<sup>(a)</sup> | 4111 | 63556 |
| Jack Henry & Associates, Inc. | 11493 | 2059661 |
| Jackson Financial, Inc., Class A | 6748 | 802472 |
| loanDepot, Inc., Class A<sup>(a)(b)</sup> | 14986 | 32669 |
| Marqeta, Inc., Class A<sup>(a)(b)</sup> | 58271 | 240659 |
| Merchants Bancorp | 4065 | 168535 |
| MGIC Investment Corp. | 35122 | 945484 |
| NCR Atleos Corp.<sup>(a)</sup> | 11925 | 444802 |
| NewtekOne, Inc. | 5558 | 74977 |
| NMI Holdings, Inc., Class A<sup>(a)</sup> | 12284 | 475636 |
| Onity Group, Inc.<sup>(a)</sup> | 962 | 43502 |
| Pagseguro Digital Ltd., Class A | 27593 | 310421 |
| Payoneer Global, Inc.<sup>(a)(b)</sup> | 42860 | 273875 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Financial Services (continued)** | **Financial Services (continued)** |  |
| Paysafe Ltd.<sup>(a)(b)</sup> | 5129 | $35185 |
| Paysign, Inc.<sup>(a)</sup> | 5335 | 22247 |
| PennyMac Financial Services, Inc., Class A | 4540 | 453637 |
| Priority Technology Holdings, Inc.<sup>(a)</sup> | 4372 | 25838 |
| Radian Group, Inc. | 21997 | 723701 |
| Remitly Global, Inc.<sup>(a)</sup> | 27436 | 362704 |
| Repay Holdings Corp., Class A<sup>(a)(b)</sup> | 11807 | 41206 |
| Security National Financial Corp., Class A<sup>(a)(b)</sup> | 2058 | 18152 |
| Sezzle, Inc.<sup>(a)</sup> | 2625 | 166005 |
| Shift4 Payments, Inc., Class A<sup>(a)(b)</sup> | 10673 | 630134 |
| StoneCo Ltd., Class A<sup>(a)</sup> | 39219 | 632995 |
| SWK Holdings Corp. | 726 | 12705 |
| UWM Holdings Corp., Class A | 26367 | 129462 |
| Velocity Financial, Inc.<sup>(a)</sup> | 1121 | 22745 |
| Voya Financial, Inc. | 15510 | 1188997 |
| Walker & Dunlop, Inc. | 5411 | 340298 |
| Waterstone Financial, Inc. | 2790 | 51029 |
| Western Union Co. | 44994 | 421594 |
| WEX, Inc.<sup>(a)</sup> | 5486 | 844295 |
|  |  | 20156990 |
| **Food Products — 0.8%** | **Food Products — 0.8%** |  |
| Alico, Inc.<sup>(b)</sup> | 665 | 27471 |
| B&G Foods, Inc. | 11206 | 48970 |
| Beyond Meat, Inc.<sup>(a)(b)</sup> | 59823 | 45657 |
| BRC, Inc., Class A<sup>(a)(b)</sup> | 30552 | 25270 |
| Calavo Growers, Inc. | 2445 | 62201 |
| Cal-Maine Foods, Inc. | 6969 | 582121 |
| Darling Ingredients, Inc.<sup>(a)</sup> | 24895 | 1136706 |
| Dole PLC | 13586 | 216425 |
| Flowers Foods, Inc. | 31661 | 361885 |
| Fresh Del Monte Produce, Inc. | 5111 | 202702 |
| Freshpet, Inc.<sup>(a)</sup> | 7371 | 513759 |
| Hain Celestial Group, Inc.<sup>(a)</sup> | 12777 | 15460 |
| Ingredion, Inc. | 10053 | 1187259 |
| J & J Snack Foods Corp. | 2271 | 215745 |
| John B Sanfilippo & Son, Inc. | 1127 | 91174 |
| Lamb Weston Holdings, Inc. | 21454 | 985382 |
| Lifeway Foods, Inc.<sup>(a)(b)</sup> | 950 | 20928 |
| Limoneira Co. | 2273 | 32731 |
| Mama's Creations, Inc.<sup>(a)</sup> | 5224 | 78882 |
| Marzetti Co. | 3166 | 543191 |
| Mission Produce, Inc.<sup>(a)(b)</sup> | 6805 | 91595 |
| Pilgrim's Pride Corp. | 6467 | 280474 |
| Post Holdings, Inc.<sup>(a)</sup> | 7521 | 769474 |
| Seaboard Corp. | 41 | 208373 |
| Seneca Foods Corp., Class A<sup>(a)</sup> | 662 | 78996 |
| Simply Good Foods Co.<sup>(a)</sup> | 13980 | 262405 |
| Smithfield Foods, Inc. | 7169 | 171339 |
| SunOpta, Inc.<sup>(a)</sup> | 14147 | 64793 |
| Tootsie Roll Industries, Inc. | 2503 | 94814 |
| TreeHouse Foods, Inc.<sup>(a)</sup> | 7629 | 187979 |
| Utz Brands, Inc., Class A | 10819 | 114032 |
| Vital Farms, Inc.<sup>(a)(b)</sup> | 5102 | 145152 |
| Westrock Coffee Co.<sup>(a)(b)</sup> | 5837 | 28193 |
|  |  | 8891538 |
| **Gas Utilities — 0.7%** | **Gas Utilities — 0.7%** |  |
| Brookfield Infrastructure Corp., Class A | 19095 | 913696 |
| Chesapeake Utilities Corp. | 3384 | 435453 |
| MDU Resources Group, Inc. | 33667 | 690510 |
| National Fuel Gas Co. | 14150 | 1185062 |
| New Jersey Resources Corp. | 16012 | 792274 |
| Northwest Natural Holding Co. | 5855 | 272609 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Gas Utilities (continued)** | **Gas Utilities (continued)** |  |
| ONE Gas, Inc. | 9438 | $750887 |
| RGC Resources, Inc. | 698 | 15154 |
| Southwest Gas Holdings, Inc. | 10232 | 847414 |
| Spire, Inc. | 9156 | 773590 |
| UGI Corp. | 34143 | 1369476 |
|  |  | 8046125 |
| **Ground Transportation — 1.0%** | **Ground Transportation — 1.0%** |  |
| ArcBest Corp. | 3523 | 317845 |
| Avis Budget Group, Inc.<sup>(a)(b)</sup> | 2769 | 318407 |
| Covenant Logistics Group, Inc., Class A | 2300 | 56580 |
| FTAI Infrastructure, Inc. | 15759 | 91717 |
| Heartland Express, Inc. | 5677 | 57281 |
| Hertz Global Holdings, Inc.<sup>(a)(b)</sup> | 18416 | 90238 |
| Knight-Swift Transportation Holdings, Inc. | 24787 | 1365764 |
| Landstar System, Inc. | 5376 | 802959 |
| Lyft, Inc., Class A<sup>(a)</sup> | 61018 | 1029374 |
| Marten Transport Ltd. | 8099 | 99618 |
| PAMT Corp.<sup>(a)</sup> | 732 | 7942 |
| Proficient Auto Logistics, Inc.<sup>(a)</sup> | 3003 | 30270 |
| RXO, Inc.<sup>(a)(b)</sup> | 24454 | 356539 |
| Ryder System, Inc. | 6242 | 1193970 |
| Saia, Inc.<sup>(a)</sup> | 4179 | 1399422 |
| Schneider National, Inc., Class B | 7977 | 214103 |
| U-Haul Holding Co.<sup>(a)(b)</sup> | 1113 | 62940 |
| U-Haul Holding Co., Series N | 15662 | 803617 |
| Universal Logistics Holdings, Inc. | 1167 | 18684 |
| Werner Enterprises, Inc. | 9772 | 334691 |
| XPO, Inc.<sup>(a)</sup> | 18150 | 2688197 |
|  |  | 11340158 |
| **Health Care Equipment & Supplies — 1.6%** | **Health Care Equipment & Supplies — 1.6%** |  |
| Accuray, Inc.<sup>(a)</sup> | 14288 | 11535 |
| Acme United Corp. | 726 | 30340 |
| Alphatec Holdings, Inc.<sup>(a)</sup> | 17734 | 262995 |
| AngioDynamics, Inc.<sup>(a)</sup> | 6128 | 63486 |
| Anteris Technologies Global Corp.<sup>(a)</sup> | 3483 | 20793 |
| Artivion, Inc.<sup>(a)</sup> | 6628 | 270224 |
| AtriCure, Inc.<sup>(a)</sup> | 7308 | 269884 |
| Avanos Medical, Inc.<sup>(a)</sup> | 6271 | 83530 |
| Axogen, Inc.<sup>(a)</sup> | 6625 | 230881 |
| Beta Bionics, Inc.<sup>(a)</sup> | 5965 | 82496 |
| Bioventus, Inc., Class A<sup>(a)</sup> | 7264 | 57604 |
| Butterfly Network, Inc., Class A<sup>(a)(b)</sup> | 29550 | 117018 |
| Carlsmed, Inc.<sup>(a)</sup> | 578 | 7179 |
| Ceribell, Inc.<sup>(a)</sup> | 3799 | 78297 |
| Cerus Corp.<sup>(a)(b)</sup> | 29178 | 67985 |
| ClearPoint Neuro, Inc.<sup>(a)(b)</sup> | 4160 | 53789 |
| CONMED Corp. | 4773 | 183235 |
| CVRx, Inc.<sup>(a)(b)</sup> | 2551 | 17474 |
| Delcath Systems, Inc.<sup>(a)</sup> | 4778 | 47350 |
| Dentsply Sirona, Inc. | 31016 | 386770 |
| Electromed, Inc.<sup>(a)</sup> | 816 | 24374 |
| Embecta Corp. | 9025 | 95755 |
| Enovis Corp.<sup>(a)</sup> | 8608 | 189720 |
| Envista Holdings Corp.<sup>(a)</sup> | 25928 | 608530 |
| Glaukos Corp.<sup>(a)</sup> | 8832 | 1054364 |
| Globus Medical, Inc., Class A<sup>(a)</sup> | 17687 | 1603857 |
| Haemonetics Corp.<sup>(a)</sup> | 7520 | 501283 |
| ICU Medical, Inc.<sup>(a)</sup> | 3861 | 578764 |
| Inogen, Inc.<sup>(a)</sup> | 3522 | 20780 |
| Inspire Medical Systems, Inc.<sup>(a)</sup> | 4418 | 334796 |
| Integer Holdings Corp.<sup>(a)</sup> | 5467 | 474864 |
| Integra LifeSciences Holdings Corp.<sup>(a)</sup> | 10351 | 115310 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** |  |
| iRadimed Corp. | 1223 | $119707 |
| iRhythm Technologies, Inc.<sup>(a)(b)</sup> | 5015 | 774868 |
| Kestra Medical Technologies Ltd.<sup>(a)(b)</sup> | 3291 | 81189 |
| KORU Medical Systems, Inc.<sup>(a)</sup> | 8148 | 43918 |
| Lantheus Holdings, Inc.<sup>(a)</sup> | 10777 | 721197 |
| LeMaitre Vascular, Inc. | 3033 | 257714 |
| LENSAR, Inc.<sup>(a)(b)</sup> | 1588 | 20215 |
| LivaNova PLC<sup>(a)</sup> | 8782 | 577065 |
| Lucid Diagnostics, Inc.<sup>(a)</sup> | 9222 | 10974 |
| Masimo Corp.<sup>(a)</sup> | 7162 | 983557 |
| Merit Medical Systems, Inc.<sup>(a)</sup> | 9184 | 744731 |
| Myomo, Inc.<sup>(a)(b)</sup> | 5030 | 4221 |
| Neogen Corp.<sup>(a)</sup> | 32610 | 333274 |
| Neuronetics, Inc.<sup>(a)(b)</sup> | 5610 | 11725 |
| NeuroPace, Inc.<sup>(a)</sup> | 3631 | 54937 |
| Novocure Ltd.<sup>(a)</sup> | 15675 | 194370 |
| Omnicell, Inc.<sup>(a)</sup> | 7016 | 340276 |
| OraSure Technologies, Inc.<sup>(a)</sup> | 10337 | 28840 |
| Orthofix Medical, Inc.<sup>(a)</sup> | 6664 | 88165 |
| OrthoPediatrics Corp.<sup>(a)(b)</sup> | 2598 | 45361 |
| Outset Medical, Inc.<sup>(a)</sup> | 2707 | 13562 |
| Penumbra, Inc.<sup>(a)</sup> | 5912 | 2117501 |
| PROCEPT BioRobotics Corp.<sup>(a)</sup> | 8646 | 250388 |
| Pro-Dex, Inc.<sup>(a)(b)</sup> | 307 | 12044 |
| Pulmonx Corp.<sup>(a)</sup> | 5546 | 9095 |
| Pulse Biosciences, Inc.<sup>(a)(b)</sup> | 2866 | 39637 |
| QuidelOrtho Corp.<sup>(a)</sup> | 10099 | 274390 |
| RxSight, Inc.<sup>(a)</sup> | 5857 | 50897 |
| Sanara Medtech, Inc.<sup>(a)</sup> | 615 | 13530 |
| SANUWAVE Health, Inc.<sup>(a)(b)</sup> | 1123 | 30276 |
| Shoulder Innovations, Inc.<sup>(a)</sup> | 2136 | 30246 |
| SI-BONE, Inc.<sup>(a)</sup> | 5647 | 93627 |
| Sight Sciences, Inc.<sup>(a)</sup> | 9004 | 56545 |
| STAAR Surgical Co.<sup>(a)</sup> | 8506 | 161189 |
| Stereotaxis, Inc.<sup>(a)</sup> | 9381 | 20544 |
| Tactile Systems Technology, Inc.<sup>(a)</sup> | 3228 | 93160 |
| Tandem Diabetes Care, Inc.<sup>(a)</sup> | 10129 | 201466 |
| Teleflex, Inc. | 7163 | 747602 |
| TransMedics Group, Inc.<sup>(a)(b)</sup> | 5339 | 715293 |
| Treace Medical Concepts, Inc.<sup>(a)(b)</sup> | 6856 | 15906 |
| UFP Technologies, Inc.<sup>(a)</sup> | 1146 | 287806 |
| Utah Medical Products, Inc. | 250 | 15265 |
| Varex Imaging Corp.<sup>(a)</sup> | 6004 | 83696 |
|  |  | 18715231 |
| **Health Care Providers & Services — 2.1%** | **Health Care Providers & Services — 2.1%** |  |
| Acadia Healthcare Co., Inc.<sup>(a)</sup> | 14137 | 190001 |
| AdaptHealth Corp.<sup>(a)</sup> | 17836 | 179252 |
| Addus HomeCare Corp.<sup>(a)</sup> | 2733 | 282811 |
| agilon health, Inc.<sup>(a)(b)</sup> | 47126 | 39218 |
| AirSculpt Technologies, Inc.<sup>(a)</sup> | 6850 | 20345 |
| Alignment Healthcare, Inc.<sup>(a)</sup> | 27070 | 609887 |
| AMN Healthcare Services, Inc.<sup>(a)</sup> | 5756 | 122603 |
| Ardent Health, Inc.<sup>(a)(b)</sup> | 3906 | 31912 |
| Astrana Health, Inc.<sup>(a)(b)</sup> | 6214 | 141306 |
| Aveanna Healthcare Holdings, Inc.<sup>(a)</sup> | 11441 | 96104 |
| BrightSpring Health Services, Inc.<sup>(a)</sup> | 17716 | 695707 |
| Brookdale Senior Living, Inc.<sup>(a)</sup> | 35359 | 530385 |
| Castle Biosciences, Inc.<sup>(a)</sup> | 4154 | 163626 |
| Chemed Corp. | 2160 | 922622 |
| Clover Health Investments Corp., Class A<sup>(a)(b)</sup> | 62118 | 139144 |
| Community Health Systems, Inc.<sup>(a)</sup> | 20266 | 65054 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** |  |
| Concentra Group Holdings Parent, Inc. | 17771 | $394161 |
| CorVel Corp.<sup>(a)</sup> | 4264 | 296902 |
| Cross Country Healthcare, Inc.<sup>(a)</sup> | 4745 | 44223 |
| DaVita, Inc.<sup>(a)</sup> | 5696 | 622801 |
| DocGo, Inc.<sup>(a)</sup> | 11752 | 9009 |
| Encompass Health Corp. | 15864 | 1499624 |
| Enhabit, Inc.<sup>(a)(b)</sup> | 7209 | 76632 |
| Ensign Group, Inc. | 8698 | 1493099 |
| Fulgent Genetics, Inc.<sup>(a)</sup> | 3240 | 84888 |
| GeneDx Holdings Corp., Class A<sup>(a)</sup> | 2874 | 276651 |
| Guardant Health, Inc.<sup>(a)</sup> | 19006 | 2167444 |
| Guardian Pharmacy Services, Inc., Class A<sup>(a)</sup> | 3231 | 97576 |
| HealthEquity, Inc.<sup>(a)</sup> | 13285 | 1138126 |
| Henry Schein, Inc.<sup>(a)</sup> | 16795 | 1267687 |
| Hims & Hers Health, Inc., Class A<sup>(a)(b)</sup> | 32009 | 867124 |
| Innovage Holding Corp.<sup>(a)</sup> | 2921 | 16212 |
| Joint Corp.<sup>(a)(b)</sup> | 1976 | 19325 |
| LifeStance Health Group, Inc.<sup>(a)</sup> | 26639 | 188338 |
| Nano-X Imaging Ltd.<sup>(a)(b)</sup> | 8828 | 24100 |
| National HealthCare Corp. | 1889 | 270335 |
| National Research Corp., Class A | 2065 | 42002 |
| NeoGenomics, Inc.<sup>(a)</sup> | 19556 | 235845 |
| Nutex Health, Inc.<sup>(a)(b)</sup> | 546 | 81239 |
| Omada Health, Inc.<sup>(a)</sup> | 1710 | 25564 |
| Oncology Institute, Inc.<sup>(a)(b)</sup> | 9632 | 26103 |
| OPKO Health, Inc.<sup>(a)(b)</sup> | 75633 | 95298 |
| Option Care Health, Inc.<sup>(a)</sup> | 25126 | 854284 |
| Owens & Minor, Inc.<sup>(a)</sup> | 12293 | 27168 |
| PACS Group, Inc.<sup>(a)</sup> | 6751 | 227914 |
| Pediatrix Medical Group, Inc.<sup>(a)</sup> | 13162 | 281404 |
| Pennant Group, Inc.<sup>(a)</sup> | 4838 | 133626 |
| Privia Health Group, Inc.<sup>(a)</sup> | 17094 | 396923 |
| Progyny, Inc.<sup>(a)</sup> | 12204 | 291309 |
| RadNet, Inc.<sup>(a)</sup> | 10793 | 756589 |
| Select Medical Holdings Corp. | 19346 | 291157 |
| Sonida Senior Living, Inc.<sup>(a)</sup> | 961 | 30608 |
| Strata Critical Medical, Inc.<sup>(a)(b)</sup> | 10430 | 50898 |
| Surgery Partners, Inc.<sup>(a)(b)</sup> | 11769 | 174887 |
| Talkspace, Inc.<sup>(a)(b)</sup> | 19042 | 76930 |
| Tenet Healthcare Corp.<sup>(a)</sup> | 13838 | 2619257 |
| U.S. Physical Therapy, Inc. | 2176 | 182501 |
| Universal Health Services, Inc., Class B | 8480 | 1706685 |
| Viemed Healthcare, Inc.<sup>(a)</sup> | 4178 | 32045 |
|  |  | 23724470 |
| **Health Care REITs — 0.7%** | **Health Care REITs — 0.7%** |  |
| American Healthcare REIT, Inc. | 26483 | 1242318 |
| CareTrust REIT, Inc. | 34398 | 1284421 |
| Community Healthcare Trust, Inc. | 4203 | 72628 |
| Diversified Healthcare Trust | 33329 | 193641 |
| Global Medical REIT, Inc. | 1796 | 62034 |
| Healthcare Realty Trust, Inc. | 52857 | 887469 |
| LTC Properties, Inc. | 7539 | 274947 |
| Medical Properties Trust, Inc. | 78332 | 393227 |
| National Health Investors, Inc. | 7437 | 610726 |
| Omega Healthcare Investors, Inc. | 46372 | 2034803 |
| Sabra Health Care REIT, Inc. | 36750 | 688328 |
| Sila Realty Trust, Inc. | 8471 | 206269 |
| Strawberry Fields REIT, Inc. | 1874 | 24587 |
| Universal Health Realty Income Trust | 1974 | 78427 |
|  |  | 8053825 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care Technology — 0.2%** | **Health Care Technology — 0.2%** |  |
| Certara, Inc.<sup>(a)</sup> | 18642 | $163863 |
| Claritev Corp., Class A<sup>(a)</sup> | 1178 | 31994 |
| Definitive Healthcare Corp., Class A<sup>(a)</sup> | 6895 | 15996 |
| Doximity, Inc., Class A<sup>(a)</sup> | 20913 | 783610 |
| Evolent Health, Inc., Class A<sup>(a)</sup> | 17670 | 56721 |
| Health Catalyst, Inc.<sup>(a)(b)</sup> | 7553 | 16239 |
| HealthStream, Inc. | 3505 | 78126 |
| HeartFlow, Inc.<sup>(a)</sup> | 3131 | 93523 |
| LifeMD, Inc.<sup>(a)(b)</sup> | 5464 | 17703 |
| OptimizeRx Corp.<sup>(a)</sup> | 2430 | 26147 |
| Phreesia, Inc.<sup>(a)</sup> | 8666 | 116384 |
| Schrodinger, Inc.<sup>(a)(b)</sup> | 8566 | 119667 |
| Simulations Plus, Inc.<sup>(a)</sup> | 2503 | 42276 |
| Teladoc Health, Inc.<sup>(a)</sup> | 26350 | 143608 |
| TruBridge, Inc.<sup>(a)</sup> | 1614 | 31231 |
| Waystar Holding Corp.<sup>(a)</sup> | 16783 | 445757 |
|  |  | 2182845 |
| **Hotel & Resort REITs — 0.4%** | **Hotel & Resort REITs — 0.4%** |  |
| Apple Hospitality REIT, Inc. | 37603 | 437699 |
| Braemar Hotels & Resorts, Inc. | 8647 | 23087 |
| Chatham Lodging Trust | 7197 | 51171 |
| DiamondRock Hospitality Co. | 32232 | 295890 |
| Host Hotels & Resorts, Inc. | 108437 | 2009338 |
| Park Hotels & Resorts, Inc. | 33375 | 364789 |
| Pebblebrook Hotel Trust | 17856 | 203915 |
| RLJ Lodging Trust | 23947 | 177926 |
| Ryman Hospitality Properties, Inc. | 9631 | 912056 |
| Service Properties Trust | 23687 | 47137 |
| Summit Hotel Properties, Inc. | 16388 | 72435 |
| Sunstone Hotel Investors, Inc. | 29472 | 258469 |
| Xenia Hotels & Resorts, Inc. | 16452 | 242667 |
|  |  | 5096579 |
| **Hotels, Restaurants & Leisure — 2.3%** | **Hotels, Restaurants & Leisure — 2.3%** |  |
| Accel Entertainment, Inc., Class A<sup>(a)</sup> | 7662 | 86657 |
| Aramark | 41257 | 1587982 |
| Bally's Corp.<sup>(a)</sup> | 1071 | 16365 |
| Biglari Holdings, Inc., Class B<sup>(a)</sup> | 92 | 34503 |
| BJ's Restaurants, Inc.<sup>(a)</sup> | 3093 | 129349 |
| Black Rock Coffee Bar, Inc., Class A<sup>(a)</sup> | 2700 | 40257 |
| Bloomin' Brands, Inc. | 13261 | 79566 |
| Boyd Gaming Corp. | 8546 | 722479 |
| Brightstar Lottery PLC | 17785 | 257527 |
| Brinker International, Inc.<sup>(a)</sup> | 6915 | 1090634 |
| Caesars Entertainment, Inc.<sup>(a)</sup> | 31918 | 660703 |
| Cava Group, Inc.<sup>(a)</sup> | 15739 | 954098 |
| Cheesecake Factory, Inc. | 7092 | 411052 |
| Choice Hotels International, Inc.<sup>(b)</sup> | 4275 | 439470 |
| Churchill Downs, Inc. | 10427 | 1025600 |
| Cracker Barrel Old Country Store, Inc.<sup>(b)</sup> | 3430 | 103312 |
| Dave & Buster's Entertainment, Inc.<sup>(a)(b)</sup> | 4034 | 75718 |
| Dine Brands Global, Inc. | 2352 | 80885 |
| Dutch Bros, Inc., Class A<sup>(a)(b)</sup> | 18725 | 1018453 |
| El Pollo Loco Holdings, Inc.<sup>(a)</sup> | 3705 | 37532 |
| First Watch Restaurant Group, Inc.<sup>(a)</sup> | 7848 | 125489 |
| Genius Sports Ltd.<sup>(a)</sup> | 36037 | 313522 |
| Global Business Travel Group I<sup>(a)(b)</sup> | 21707 | 148693 |
| Golden Entertainment, Inc. | 3059 | 82348 |
| Hilton Grand Vacations, Inc.<sup>(a)</sup> | 10007 | 451416 |
| Hyatt Hotels Corp., Class A | 6479 | 1013121 |
| Inspired Entertainment, Inc.<sup>(a)(b)</sup> | 4819 | 43034 |
| Jack in the Box, Inc. | 2812 | 58968 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |  |
| Krispy Kreme, Inc.<sup>(b)</sup> | 13256 | $41756 |
| Kura Sushi USA, Inc., Class A<sup>(a)(b)</sup> | 917 | 61265 |
| Life Time Group Holdings, Inc.<sup>(a)</sup> | 23772 | 693429 |
| Lindblad Expeditions Holdings, Inc.<sup>(a)</sup> | 5497 | 91635 |
| Marriott Vacations Worldwide Corp. | 4605 | 250097 |
| MGM Resorts International<sup>(a)(b)</sup> | 32370 | 1085690 |
| Monarch Casino & Resort, Inc. | 1932 | 176836 |
| Nathan's Famous, Inc. | 343 | 34684 |
| Navan, Inc., Class A<sup>(a)(b)</sup> | 6148 | 70579 |
| Norwegian Cruise Line Holdings Ltd.<sup>(a)</sup> | 72284 | 1587357 |
| Papa John's International, Inc. | 4916 | 172896 |
| Penn Entertainment, Inc.<sup>(a)</sup> | 22362 | 287128 |
| Planet Fitness, Inc., Class A<sup>(a)</sup> | 13153 | 1197449 |
| Portillo's, Inc., Class A<sup>(a)</sup> | 8495 | 47997 |
| Pursuit Attractions and Hospitality, Inc.<sup>(a)</sup> | 2939 | 102071 |
| RCI Hospitality Holdings, Inc. | 930 | 22357 |
| Red Rock Resorts, Inc., Class A | 7399 | 467099 |
| Rush Street Interactive, Inc., Class A<sup>(a)</sup> | 13639 | 241001 |
| Sabre Corp.<sup>(a)</sup> | 55584 | 72259 |
| Serve Robotics, Inc.<sup>(a)(b)</sup> | 10462 | 109119 |
| Shake Shack, Inc., Class A<sup>(a)</sup> | 5936 | 525751 |
| Six Flags Entertainment Corp.<sup>(a)</sup> | 14626 | 263414 |
| Super Group SGHC Ltd. | 24515 | 232157 |
| Sweetgreen, Inc., Class A<sup>(a)</sup> | 15656 | 96128 |
| Target Hospitality Corp.<sup>(a)</sup> | 4842 | 33361 |
| Texas Roadhouse, Inc. | 10458 | 1880976 |
| Travel & Leisure Co. | 10014 | 696374 |
| United Parks & Resorts, Inc.<sup>(a)</sup> | 4267 | 160653 |
| Vail Resorts, Inc. | 5481 | 729357 |
| Wendy's Co. | 24670 | 192179 |
| Wingstop, Inc. | 4339 | 1151701 |
| Wyndham Hotels & Resorts, Inc. | 11545 | 840360 |
| Wynn Resorts Ltd. | 12143 | 1304765 |
| Xponential Fitness, Inc., Class A<sup>(a)</sup> | 4171 | 33118 |
|  |  | 26041731 |
| **Household Durables — 1.6%** | **Household Durables — 1.6%** |  |
| Bassett Furniture Industries, Inc. | 904 | 14283 |
| Beazer Homes USA, Inc.<sup>(a)</sup> | 4457 | 96137 |
| Cavco Industries, Inc.<sup>(a)</sup> | 1206 | 593376 |
| Century Communities, Inc. | 3986 | 251038 |
| Champion Homes, Inc.<sup>(a)</sup> | 8999 | 705342 |
| Cricut, Inc., Class A | 8033 | 35908 |
| Dream Finders Homes, Inc., Class A<sup>(a)(b)</sup> | 4603 | 84649 |
| Ethan Allen Interiors, Inc. | 3453 | 79177 |
| Flexsteel Industries, Inc. | 557 | 22297 |
| Green Brick Partners, Inc.<sup>(a)</sup> | 4689 | 325370 |
| Hamilton Beach Brands Holding Co., Class A | 1059 | 20216 |
| Helen of Troy Ltd.<sup>(a)</sup> | 3504 | 58026 |
| Hovnanian Enterprises, Inc., Class A<sup>(a)</sup> | 765 | 86177 |
| Installed Building Products, Inc. | 3677 | 1059491 |
| KB Home | 9973 | 573846 |
| La-Z-Boy, Inc. | 6087 | 221628 |
| Legacy Housing Corp.<sup>(a)</sup> | 1162 | 24112 |
| Leggett & Platt, Inc. | 20500 | 239235 |
| LGI Homes, Inc.<sup>(a)</sup> | 3097 | 155191 |
| Lovesac Co.<sup>(a)(b)</sup> | 2304 | 30689 |
| M/I Homes, Inc.<sup>(a)</sup> | 4069 | 544025 |
| Meritage Homes Corp. | 10787 | 749804 |
| Mohawk Industries, Inc.<sup>(a)</sup> | 8098 | 958641 |
| Newell Brands, Inc. | 64289 | 273228 |
| SharkNinja, Inc.<sup>(a)</sup> | 13218 | 1562368 |
| Somnigroup International, Inc. | 31852 | 2798198 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Household Durables (continued)** | **Household Durables (continued)** |  |
| Sonos, Inc.<sup>(a)</sup> | 19562 | $280715 |
| Taylor Morrison Home Corp., Class A<sup>(a)</sup> | 15106 | 920711 |
| Toll Brothers, Inc. | 15232 | 2200872 |
| TopBuild Corp.<sup>(a)</sup> | 4441 | 2078610 |
| Traeger, Inc.<sup>(a)</sup> | 3244 | 3568 |
| Tri Pointe Homes, Inc.<sup>(a)</sup> | 13397 | 446790 |
| Whirlpool Corp. | 8549 | 683835 |
|  |  | 18177553 |
| **Household Products — 0.1%** | **Household Products — 0.1%** |  |
| Central Garden & Pet Co.<sup>(a)</sup> | 1661 | 56192 |
| Central Garden & Pet Co., Class A<sup>(a)</sup> | 7697 | 236067 |
| Energizer Holdings, Inc. | 10184 | 222317 |
| Oil-Dri Corp. of America | 1390 | 84164 |
| Reynolds Consumer Products, Inc. | 8443 | 195624 |
| Spectrum Brands Holdings, Inc. | 4028 | 256624 |
| WD-40 Co. | 2018 | 466622 |
|  |  | 1517610 |
| **Independent Power and Renewable Electricity Producers — 0.6%** | **Independent Power and Renewable Electricity Producers — 0.6%** |  |
| AES Corp. | 111708 | 1636522 |
| Brookfield Renewable Corp. | 21727 | 904712 |
| Clearway Energy, Inc., Class A | 7038 | 237673 |
| Clearway Energy, Inc., Class C | 11779 | 425811 |
| Hallador Energy Co.<sup>(a)</sup> | 4756 | 87939 |
| Montauk Renewables, Inc.<sup>(a)(b)</sup> | 11785 | 20506 |
| Ormat Technologies, Inc. | 9582 | 1197175 |
| Talen Energy Corp.<sup>(a)</sup> | 7182 | 2501922 |
|  |  | 7012260 |
| **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** |  |
| Brookfield Business Corp., Class A | 3494 | 124596 |
| **Industrial REITs — 0.7%** | **Industrial REITs — 0.7%** |  |
| Americold Realty Trust, Inc. | 47103 | 584548 |
| EastGroup Properties, Inc. | 8275 | 1503071 |
| First Industrial Realty Trust, Inc. | 20310 | 1178590 |
| Industrial Logistics Properties Trust | 7884 | 42022 |
| Innovative Industrial Properties, Inc. | 4854 | 234545 |
| LXP Industrial Trust | 9202 | 455959 |
| One Liberty Properties, Inc. | 2324 | 50082 |
| Rexford Industrial Realty, Inc. | 36651 | 1485465 |
| STAG Industrial, Inc. | 29715 | 1114610 |
| Terreno Realty Corp. | 15900 | 978486 |
|  |  | 7627378 |
| **Insurance — 3.1%** | **Insurance — 3.1%** |  |
| Abacus Global Management, Inc., Class A | 10042 | 74813 |
| Ambac Financial Group, Inc.<sup>(a)</sup> | 7651 | 43381 |
| American Coastal Insurance Corp. | 4541 | 50178 |
| American Financial Group, Inc. | 10675 | 1390632 |
| American Integrity Insurance Group, Inc.<sup>(a)</sup> | 2072 | 38726 |
| AMERISAFE, Inc. | 3254 | 122383 |
| Aspen Insurance Holdings Ltd., Class A<sup>(a)(b)</sup> | 3118 | 116395 |
| Assurant, Inc. | 8172 | 1945998 |
| Assured Guaranty Ltd. | 7490 | 635526 |
| Ategrity Specialty Holdings LLC<sup>(a)</sup> | 1898 | 33803 |
| Axis Capital Holdings Ltd. | 13014 | 1342785 |
| Baldwin Insurance Group, Inc., Class A<sup>(a)</sup> | 10950 | 240024 |
| Bowhead Specialty Holdings, Inc.<sup>(a)</sup> | 2349 | 57691 |
| Brighthouse Financial, Inc.<sup>(a)(b)</sup> | 9154 | 586405 |
| Citizens, Inc., Class A<sup>(a)</sup> | 11809 | 65540 |
| CNO Financial Group, Inc. | 18167 | 763922 |
| Crawford & Co., Class A | 8959 | 97205 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Donegal Group, Inc., Class A | 3400 | $63478 |
| eHealth, Inc.<sup>(a)</sup> | 4461 | 12625 |
| Employers Holdings, Inc. | 3701 | 161438 |
| Everest Group Ltd. | 6752 | 2236803 |
| F&G Annuities & Life, Inc. | 5827 | 171838 |
| Fidelis Insurance Holdings Ltd. | 10594 | 201710 |
| First American Financial Corp. | 15236 | 962610 |
| Genworth Financial, Inc., Class A<sup>(a)</sup> | 62057 | 517555 |
| Globe Life, Inc. | 13716 | 1923258 |
| GoHealth, Inc., Class A<sup>(a)(b)</sup> | 784 | 1693 |
| Goosehead Insurance, Inc., Class A<sup>(a)</sup> | 3674 | 227200 |
| Greenlight Capital Re Ltd., Class A<sup>(a)</sup> | 5937 | 82346 |
| Hamilton Insurance Group Ltd., Class B<sup>(a)</sup> | 7273 | 201826 |
| Hanover Insurance Group, Inc. | 5927 | 1032128 |
| HCI Group, Inc. | 1666 | 264344 |
| Heritage Insurance Holdings, Inc.<sup>(a)</sup> | 3683 | 96016 |
| Hippo Holdings, Inc.<sup>(a)</sup> | 2786 | 83023 |
| Horace Mann Educators Corp. | 6321 | 283244 |
| Investors Title Co. | 264 | 68487 |
| James River Group Holdings, Inc.<sup>(b)</sup> | 12322 | 82681 |
| Kemper Corp. | 10147 | 399893 |
| Kestrel Group Ltd.<sup>(a)(b)</sup> | 2779 | 32987 |
| Kingstone Cos., Inc. | 1891 | 29216 |
| Kingsway Financial Services, Inc.<sup>(a)</sup> | 4657 | 62497 |
| Kinsale Capital Group, Inc.<sup>(b)</sup> | 3474 | 1375287 |
| Lemonade, Inc.<sup>(a)(b)</sup> | 9564 | 829486 |
| Lincoln National Corp. | 14766 | 614413 |
| MBIA, Inc.<sup>(a)(b)</sup> | 8173 | 52307 |
| Mercury General Corp. | 4247 | 371995 |
| NI Holdings, Inc.<sup>(a)</sup> | 788 | 10733 |
| Old Republic International Corp. | 37963 | 1487011 |
| Oscar Health, Inc., Class A<sup>(a)</sup> | 30988 | 444678 |
| Palomar Holdings, Inc.<sup>(a)</sup> | 4016 | 496337 |
| Primerica, Inc. | 5703 | 1500117 |
| ProAssurance Corp.<sup>(a)</sup> | 7830 | 189643 |
| Reinsurance Group of America, Inc. | 10580 | 2145095 |
| RenaissanceRe Holdings Ltd. | 7310 | 2059227 |
| RLI Corp. | 13345 | 779748 |
| Root, Inc., Class A<sup>(a)</sup> | 2028 | 126000 |
| Ryan Specialty Holdings, Inc., Class A | 17055 | 823415 |
| Safety Insurance Group, Inc. | 2374 | 186834 |
| Selective Insurance Group, Inc. | 9802 | 824152 |
| Selectquote, Inc.<sup>(a)</sup> | 27817 | 39500 |
| SiriusPoint Ltd.<sup>(a)</sup> | 8673 | 177016 |
| Skyward Specialty Insurance Group, Inc.<sup>(a)</sup> | 5593 | 249560 |
| Slide Insurance Holdings, Inc.<sup>(a)</sup> | 3874 | 66749 |
| Stewart Information Services Corp. | 4330 | 291972 |
| Tiptree, Inc. | 3599 | 64350 |
| Trupanion, Inc.<sup>(a)</sup> | 7052 | 225593 |
| United Fire Group, Inc. | 4186 | 150445 |
| Universal Insurance Holdings, Inc. | 4243 | 129199 |
| Unum Group | 28127 | 2136808 |
| White Mountains Insurance Group Ltd.<sup>(b)</sup> | 404 | 826152 |
|  |  | 35478125 |
| **Interactive Media & Services — 0.4%** | **Interactive Media & Services — 0.4%** |  |
| Angi, Inc., Class A<sup>(a)</sup> | 6868 | 89147 |
| Arena Group Holdings, Inc.<sup>(a)(b)</sup> | 1697 | 6601 |
| Bumble, Inc., Class A<sup>(a)(b)</sup> | 10464 | 35054 |
| Cargurus, Inc., Class A<sup>(a)</sup> | 12616 | 408758 |
| Cars.com, Inc.<sup>(a)</sup> | 9358 | 106307 |
| EverQuote, Inc., Class A<sup>(a)(b)</sup> | 3907 | 88689 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Interactive Media & Services (continued)** | **Interactive Media & Services (continued)** |  |
| fuboTV, Inc., Class A<sup>(a)</sup> | 52646 | $117401 |
| Getty Images Holdings, Inc.<sup>(a)(b)</sup> | 18361 | 24053 |
| Grindr, Inc.<sup>(a)</sup> | 5450 | 61694 |
| IAC, Inc.<sup>(a)</sup> | 10269 | 379439 |
| Match Group, Inc. | 38468 | 1198278 |
| MediaAlpha, Inc., Class A<sup>(a)</sup> | 5186 | 53053 |
| Nextdoor Holdings, Inc.<sup>(a)</sup> | 30468 | 59717 |
| QuinStreet, Inc.<sup>(a)</sup> | 8327 | 110666 |
| Rumble, Inc.<sup>(a)(b)</sup> | 18104 | 103012 |
| Shutterstock, Inc. | 3961 | 78626 |
| Teads Holding Co.<sup>(a)(b)</sup> | 7340 | 4941 |
| Travelzoo<sup>(a)(b)</sup> | 978 | 5721 |
| TripAdvisor, Inc.<sup>(a)(b)</sup> | 17896 | 237838 |
| Trump Media & Technology Group Corp., Class A<sup>(a)(b)</sup> | 25507 | 325979 |
| Webtoon Entertainment, Inc.<sup>(a)(b)</sup> | 2641 | 31930 |
| Yelp, Inc.<sup>(a)</sup> | 9464 | 259124 |
| Ziff Davis, Inc.<sup>(a)(b)</sup> | 6498 | 248354 |
| ZipRecruiter, Inc., Class A<sup>(a)</sup> | 10670 | 26248 |
| ZoomInfo Technologies, Inc., Class A<sup>(a)</sup> | 42796 | 344508 |
|  |  | 4405138 |
| **IT Services — 0.7%** | **IT Services — 0.7%** |  |
| Amdocs Ltd. | 17152 | 1405435 |
| Applied Digital Corp.<sup>(a)(b)</sup> | 37379 | 1266401 |
| ASGN, Inc.<sup>(a)</sup> | 6612 | 344419 |
| Backblaze, Inc., Class A<sup>(a)</sup> | 7790 | 35445 |
| BigBear.ai Holdings, Inc.<sup>(a)(b)</sup> | 69130 | 348415 |
| Commerce.com, Inc., Series 1<sup>(a)</sup> | 11610 | 36223 |
| Crexendo, Inc.<sup>(a)</sup> | 1785 | 12495 |
| CSP, Inc. | 907 | 10358 |
| DigitalOcean Holdings, Inc.<sup>(a)</sup> | 10874 | 600789 |
| DXC Technology Co.<sup>(a)</sup> | 28840 | 416161 |
| EPAM Systems, Inc.<sup>(a)</sup> | 8582 | 1790205 |
| Fastly, Inc., Class A<sup>(a)</sup> | 20372 | 188441 |
| Globant SA<sup>(a)(b)</sup> | 6705 | 448430 |
| Grid Dynamics Holdings, Inc., Class A<sup>(a)</sup> | 9652 | 79822 |
| Hackett Group, Inc. | 3558 | 64934 |
| Information Services Group, Inc. | 5510 | 30691 |
| Kyndryl Holdings, Inc.<sup>(a)</sup> | 36621 | 842283 |
| Rackspace Technology, Inc.<sup>(a)(b)</sup> | 11549 | 7063 |
| TSS, Inc.<sup>(a)(b)</sup> | 2812 | 28682 |
| Tucows, Inc., Class A<sup>(a)</sup> | 808 | 17954 |
| Unisys Corp.<sup>(a)</sup> | 11107 | 29211 |
| VTEX, Class A<sup>(a)(b)</sup> | 8738 | 27437 |
| Whitefiber, Inc.<sup>(a)(b)</sup> | 2169 | 42317 |
|  |  | 8073611 |
| **Leisure Products — 0.5%** | **Leisure Products — 0.5%** |  |
| Acushnet Holdings Corp. | 4271 | 414031 |
| American Outdoor Brands, Inc.<sup>(a)</sup> | 1592 | 14424 |
| Brunswick Corp. | 10681 | 856830 |
| Callaway Golf Co.<sup>(a)</sup> | 19992 | 286885 |
| Clarus Corp. | 1641 | 6285 |
| Escalade, Inc. | 1074 | 15616 |
| Funko, Inc., Class A<sup>(a)(b)</sup> | 4887 | 19841 |
| Hasbro, Inc. | 20815 | 1858988 |
| JAKKS Pacific, Inc. | 1565 | 28593 |
| Johnson Outdoors, Inc., Class A | 523 | 23739 |
| Latham Group, Inc.<sup>(a)</sup> | 6823 | 42917 |
| Malibu Boats, Inc., Class A<sup>(a)</sup> | 2835 | 92137 |
| Marine Products Corp. | 440 | 4250 |
| MasterCraft Boat Holdings, Inc.<sup>(a)</sup> | 2589 | 55741 |
| Mattel, Inc.<sup>(a)</sup> | 49223 | 1028268 |
| Peloton Interactive, Inc., Class A<sup>(a)(b)</sup> | 61026 | 341135 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Leisure Products (continued)** | **Leisure Products (continued)** |  |
| Polaris, Inc. | 8313 | $530702 |
| Smith & Wesson Brands, Inc. | 6728 | 73470 |
| Sturm Ruger & Co., Inc. | 2152 | 78957 |
| YETI Holdings, Inc.<sup>(a)(b)</sup> | 12620 | 576860 |
|  |  | 6349669 |
| **Life Sciences Tools & Services — 1.3%** | **Life Sciences Tools & Services — 1.3%** |  |
| 10X Genomics, Inc., Class A<sup>(a)</sup> | 16457 | 332431 |
| Adaptive Biotechnologies Corp.<sup>(a)</sup> | 23365 | 432253 |
| Alpha Teknova, Inc.<sup>(a)</sup> | 2079 | 5031 |
| Avantor, Inc.<sup>(a)</sup> | 104003 | 1135713 |
| Azenta, Inc.<sup>(a)</sup> | 6291 | 244594 |
| BioLife Solutions, Inc.<sup>(a)</sup> | 6926 | 150987 |
| Bio-Rad Laboratories, Inc., Class A<sup>(a)</sup> | 2986 | 876988 |
| Bio-Techne Corp. | 24534 | 1572384 |
| Bruker Corp. | 16588 | 734683 |
| Charles River Laboratories International, Inc.<sup>(a)</sup> | 7672 | 1614803 |
| Codexis, Inc.<sup>(a)</sup> | 12035 | 14923 |
| CryoPort, Inc.<sup>(a)</sup> | 7193 | 68405 |
| Cytek Biosciences, Inc.<sup>(a)</sup> | 16814 | 84070 |
| Fortrea Holdings, Inc.<sup>(a)</sup> | 14237 | 239324 |
| Ginkgo Bioworks Holdings, Inc., Class A<sup>(a)(b)</sup> | 5984 | 53676 |
| Lifecore Biomedical, Inc.<sup>(a)</sup> | 3493 | 30354 |
| Maravai LifeSciences Holdings, Inc., Class A<sup>(a)(b)</sup> | 17523 | 58877 |
| MaxCyte, Inc.<sup>(a)</sup> | 15558 | 14108 |
| Medpace Holdings, Inc.<sup>(a)</sup> | 3543 | 2063727 |
| Mesa Laboratories, Inc. | 769 | 60566 |
| Niagen Bioscience, Inc.<sup>(a)</sup> | 7698 | 46111 |
| OmniAb, Inc.<sup>(a)(b)</sup> | 14465 | 26326 |
| OmniAb, Inc., 12.50 Earnout Shares<sup>(c)</sup> | 494 |  |
| OmniAb, Inc., 15.00 Earnout Shares<sup>(c)</sup> | 494 |  |
| Pacific Biosciences of California, Inc.<sup>(a)(b)</sup> | 40448 | 91412 |
| Personalis, Inc.<sup>(a)(b)</sup> | 7883 | 73864 |
| Qiagen NV<sup>(b)</sup> | 32273 | 1732092 |
| Quanterix Corp.<sup>(a)</sup> | 6594 | 41806 |
| Quantum-Si, Inc., Class A<sup>(a)(b)</sup> | 22037 | 24902 |
| Repligen Corp.<sup>(a)(b)</sup> | 8315 | 1242012 |
| Sotera Health Co.<sup>(a)</sup> | 32414 | 587342 |
| Standard BioTools, Inc.<sup>(a)(b)</sup> | 42350 | 59290 |
| Tempus AI, Inc., Class A<sup>(a)</sup> | 15218 | 910341 |
|  |  | 14623395 |
| **Machinery — 4.7%** | **Machinery — 4.7%** |  |
| 3D Systems Corp.<sup>(a)(b)</sup> | 18309 | 41012 |
| Aebi Schmidt Holding AG | 5306 | 77680 |
| AGCO Corp. | 9770 | 1108016 |
| AirJoule Technologies Corp., Class A<sup>(a)</sup> | 2814 | 9061 |
| Alamo Group, Inc. | 1568 | 306246 |
| Albany International Corp., Class A | 5173 | 287050 |
| Alliance Laundry Holdings, Inc.<sup>(a)</sup> | 6969 | 153876 |
| Allison Transmission Holdings, Inc. | 13137 | 1427992 |
| Astec Industries, Inc. | 3442 | 167694 |
| Atmus Filtration Technologies, Inc. | 12777 | 740683 |
| Blue Bird Corp.<sup>(a)</sup> | 4909 | 246972 |
| CECO Environmental Corp.<sup>(a)(b)</sup> | 4434 | 298985 |
| Chart Industries, Inc.<sup>(a)</sup> | 7042 | 1460088 |
| Columbus McKinnon Corp. | 4516 | 95197 |
| Crane Co. | 7740 | 1413634 |
| Donaldson Co., Inc. | 18412 | 1876919 |
| Douglas Dynamics, Inc. | 3465 | 130561 |
| Eastern Co. | 695 | 12997 |
| Energy Recovery, Inc.<sup>(a)</sup> | 7821 | 114108 |
| Enerpac Tool Group Corp., Class A | 8231 | 332203 |
| Enpro, Inc. | 3241 | 773886 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** |  |
| Esab Corp. | 9007 | $1090748 |
| ESCO Technologies, Inc. | 4072 | 929108 |
| Federal Signal Corp. | 9358 | 1011506 |
| Flowserve Corp. | 20014 | 1564094 |
| Franklin Electric Co., Inc. | 5971 | 594831 |
| Gates Industrial Corp. PLC<sup>(a)</sup> | 40303 | 927775 |
| Gencor Industries, Inc.<sup>(a)</sup> | 1044 | 14971 |
| Gorman-Rupp Co. | 2882 | 157040 |
| Graco, Inc. | 25469 | 2224208 |
| Graham Corp.<sup>(a)</sup> | 1442 | 100825 |
| Greenbrier Cos., Inc. | 4848 | 244436 |
| Helios Technologies, Inc. | 5108 | 330896 |
| Hillenbrand, Inc. | 10701 | 341469 |
| Hillman Solutions Corp.<sup>(a)</sup> | 33309 | 312105 |
| Hyster-Yale, Inc., Class A | 1964 | 65696 |
| ITT, Inc. | 13326 | 2429330 |
| JBT Marel Corp. | 8142 | 1280818 |
| Kadant, Inc. | 1798 | 577230 |
| Kennametal, Inc. | 11992 | 412405 |
| L B Foster Co., Class A<sup>(a)</sup> | 1345 | 40417 |
| Lincoln Electric Holdings, Inc. | 8451 | 2242473 |
| Lindsay Corp. | 1596 | 199931 |
| Luxfer Holdings PLC | 3457 | 52339 |
| Manitowoc Co., Inc.<sup>(a)</sup> | 6065 | 78360 |
| Mayville Engineering Co., Inc.<sup>(a)</sup> | 1787 | 35025 |
| Microvast Holdings, Inc.<sup>(a)(b)</sup> | 30712 | 80465 |
| Middleby Corp.<sup>(a)</sup> | 7564 | 1113194 |
| Miller Industries, Inc. | 1617 | 66248 |
| Mueller Industries, Inc. | 16953 | 2307981 |
| Mueller Water Products, Inc., Class A | 23813 | 644618 |
| Nordson Corp. | 8387 | 2302483 |
| Omega Flex, Inc. | 303 | 9996 |
| Oshkosh Corp. | 10061 | 1446973 |
| Palladyne AI Corp.<sup>(a)(b)</sup> | 4048 | 26393 |
| Park-Ohio Holdings Corp. | 1948 | 43947 |
| Pentair PLC | 25677 | 2705585 |
| Proto Labs, Inc.<sup>(a)</sup> | 3555 | 187171 |
| RBC Bearings, Inc.<sup>(a)</sup> | 4894 | 2445385 |
| REV Group, Inc. | 7871 | 502957 |
| Richtech Robotics, Inc., Class B<sup>(a)(b)</sup> | 25420 | 91004 |
| Snap-on, Inc. | 8100 | 2965491 |
| SPX Technologies, Inc.<sup>(a)</sup> | 7478 | 1558490 |
| Standex International Corp. | 1899 | 455760 |
| Stanley Black & Decker, Inc. | 24753 | 1947071 |
| Tennant Co. | 2701 | 205519 |
| Terex Corp. | 10561 | 601977 |
| Timken Co. | 10020 | 933764 |
| Titan International, Inc.<sup>(a)</sup> | 7672 | 73191 |
| Toro Co. | 15715 | 1437922 |
| Trinity Industries, Inc. | 12776 | 367182 |
| Wabash National Corp. | 5936 | 60132 |
| Watts Water Technologies, Inc., Class A | 4283 | 1281945 |
| Worthington Enterprises, Inc. | 4898 | 272182 |
|  |  | 54467922 |
| **Marine Transportation — 0.2%** | **Marine Transportation — 0.2%** |  |
| Costamare Bulkers Holdings Ltd.<sup>(a)</sup> | 1168 | 19307 |
| Costamare, Inc. | 7189 | 120631 |
| Genco Shipping & Trading Ltd. | 6147 | 128472 |
| Himalaya Shipping Ltd.<sup>(b)</sup> | 3990 | 43331 |
| Kirby Corp.<sup>(a)</sup> | 8656 | 1018465 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Marine Transportation (continued)** | **Marine Transportation (continued)** |  |
| Matson, Inc. | 4955 | $794287 |
| Pangaea Logistics Solutions Ltd. | 5589 | 47395 |
| Safe Bulkers, Inc. | 10766 | 61474 |
|  |  | 2233362 |
| **Media — 1.0%** | **Media — 1.0%** |  |
| Advantage Solutions, Inc., Class A<sup>(a)(b)</sup> | 12254 | 13234 |
| AMC Networks, Inc., Class A<sup>(a)</sup> | 5129 | 39545 |
| Boston Omaha Corp., Class A<sup>(a)(b)</sup> | 3222 | 39341 |
| Cable One, Inc. | 792 | 64144 |
| DoubleVerify Holdings, Inc.<sup>(a)</sup> | 23981 | 259474 |
| EchoStar Corp., Class A<sup>(a)</sup> | 21237 | 2404453 |
| Emerald Holding, Inc.<sup>(b)</sup> | 3103 | 15639 |
| Entravision Communications Corp., Class A | 10666 | 32105 |
| EW Scripps Co., Class A<sup>(a)</sup> | 9280 | 31088 |
| Gambling.com Group Ltd.<sup>(a)</sup> | 2414 | 11515 |
| Gray Media, Inc. | 14268 | 64349 |
| Ibotta, Inc., Class A<sup>(a)(b)</sup> | 2002 | 41361 |
| iHeartMedia, Inc., Class A<sup>(a)</sup> | 18544 | 60082 |
| John Wiley & Sons, Inc., Class A | 6147 | 191971 |
| Liberty Broadband Corp., Class A<sup>(a)</sup> | 3144 | 150975 |
| Liberty Broadband Corp., Class C<sup>(a)</sup> | 17588 | 846159 |
| Magnite, Inc.<sup>(a)</sup> | 22556 | 326385 |
| National CineMedia, Inc. | 10342 | 37335 |
| New York Times Co., Class A | 25072 | 1838028 |
| News Corp., Class A | 59998 | 1621746 |
| News Corp., Class B | 20317 | 631859 |
| Newsmax, Inc., Class B<sup>(a)(b)</sup> | 7822 | 53972 |
| Nexstar Media Group, Inc., Class A | 4530 | 962081 |
| Nexxen International Ltd.<sup>(a)(b)</sup> | 5907 | 36505 |
| NIQ Global Intelligence PLC<sup>(a)</sup> | 8464 | 143803 |
| Optimum Communications, Inc., Class A<sup>(a)(b)</sup> | 40661 | 62211 |
| PubMatic, Inc., Class A<sup>(a)</sup> | 6261 | 45455 |
| Scholastic Corp. | 3240 | 113303 |
| Sinclair, Inc., Class A | 6349 | 92124 |
| Sirius XM Holdings, Inc. | 30360 | 617826 |
| Stagwell, Inc., Class A<sup>(a)</sup> | 17460 | 104935 |
| TechTarget, Inc.<sup>(a)</sup> | 3502 | 18350 |
| TEGNA, Inc. | 26268 | 503295 |
| Thryv Holdings, Inc.<sup>(a)</sup> | 5707 | 27451 |
| USA TODAY Co., Inc.<sup>(a)(b)</sup> | 22677 | 134248 |
|  |  | 11636347 |
| **Metals & Mining — 2.0%** | **Metals & Mining — 2.0%** |  |
| Alcoa Corp. | 40686 | 2311372 |
| Alpha Metallurgical Resources, Inc.<sup>(a)</sup> | 1802 | 378060 |
| American Battery Technology Co.<sup>(a)(b)</sup> | 18858 | 76186 |
| Caledonia Mining Corp. PLC | 2519 | 69121 |
| Century Aluminum Co.<sup>(a)</sup> | 8360 | 378959 |
| Cleveland-Cliffs, Inc.<sup>(a)</sup> | 88865 | 1222782 |
| Coeur Mining, Inc.<sup>(a)(b)</sup> | 100602 | 2056305 |
| Commercial Metals Co. | 17468 | 1342765 |
| Compass Minerals International, Inc.<sup>(a)</sup> | 5252 | 131195 |
| Constellium SE, Class A<sup>(a)</sup> | 21597 | 485285 |
| Contango ORE, Inc.<sup>(a)(b)</sup> | 1249 | 35409 |
| Critical Metals Corp.<sup>(a)(b)</sup> | 6582 | 86685 |
| Dakota Gold Corp.<sup>(a)(b)</sup> | 14232 | 85250 |
| Ferroglobe PLC | 20595 | 97826 |
| Friedman Industries, Inc. | 640 | 12563 |
| Hecla Mining Co. | 99330 | 2236912 |
| Idaho Strategic Resources, Inc.<sup>(a)</sup> | 2463 | 88816 |
| Ivanhoe Electric, Inc.<sup>(a)</sup> | 16859 | 288120 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Metals & Mining (continued)** | **Metals & Mining (continued)** |  |
| Kaiser Aluminum Corp. | 2446 | $299928 |
| Lifezone Metals Ltd.<sup>(a)(b)</sup> | 3964 | 20970 |
| Materion Corp. | 3132 | 433093 |
| Metallus, Inc.<sup>(a)</sup> | 5274 | 105216 |
| MP Materials Corp., Class A<sup>(a)(b)</sup> | 20897 | 1228117 |
| NioCorp Developments Ltd.<sup>(a)(b)</sup> | 18933 | 111705 |
| Novagold Resources, Inc.<sup>(a)(b)</sup> | 47601 | 415557 |
| Olympic Steel, Inc. | 1376 | 66172 |
| Perpetua Resources Corp.<sup>(a)(b)</sup> | 13285 | 353647 |
| Ramaco Resources, Inc., Class A<sup>(a)</sup> | 6600 | 128766 |
| Reliance, Inc. | 8299 | 2734520 |
| Royal Gold, Inc. | 12889 | 3393803 |
| Ryerson Holding Corp. | 4159 | 117367 |
| SSR Mining, Inc.<sup>(a)</sup> | 32494 | 741838 |
| SunCoke Energy, Inc. | 12941 | 101716 |
| Tredegar Corp.<sup>(a)</sup> | 3315 | 28343 |
| U.S. Antimony Corp.<sup>(a)(b)</sup> | 21438 | 157141 |
| U.S. Gold Corp.<sup>(a)(b)</sup> | 2263 | 39240 |
| USA Rare Earth, Inc., Class A<sup>(a)(b)</sup> | 13703 | 307221 |
| Vox Royalty Corp. | 5389 | 28400 |
| Warrior Met Coal, Inc. | 8314 | 742440 |
| Worthington Steel, Inc. | 5097 | 205052 |
|  |  | 23143863 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.9%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.9%** |  |
| ACRES Commercial Realty Corp.<sup>(a)</sup> | 755 | 14458 |
| Adamas Trust, Inc. | 12804 | 102432 |
| AG Mortgage Investment Trust, Inc. | 4616 | 39698 |
| AGNC Investment Corp. | 169545 | 1932813 |
| Angel Oak Mortgage REIT, Inc. | 1862 | 16702 |
| Annaly Capital Management, Inc. | 109442 | 2518260 |
| Apollo Commercial Real Estate Finance, Inc. | 20104 | 217324 |
| Arbor Realty Trust, Inc. | 20950 | 161315 |
| Ares Commercial Real Estate Corp. | 7519 | 39174 |
| ARMOUR Residential REIT, Inc. | 17593 | 306118 |
| Blackstone Mortgage Trust, Inc., Class A | 24614 | 473820 |
| BrightSpire Capital, Inc., Class A | 18869 | 112837 |
| Chicago Atlantic Real Estate Finance, Inc. | 2675 | 33170 |
| Chimera Investment Corp. | 12157 | 150139 |
| Claros Mortgage Trust, Inc.<sup>(a)</sup> | 14303 | 39190 |
| Dynex Capital, Inc. | 21602 | 299836 |
| Ellington Financial, Inc. | 15225 | 195641 |
| Franklin BSP Realty Trust, Inc. | 10225 | 104909 |
| Invesco Mortgage Capital, Inc. | 16182 | 139003 |
| KKR Real Estate Finance Trust, Inc. | 7691 | 63681 |
| Ladder Capital Corp., Class A | 18781 | 206028 |
| Lument Finance Trust, Inc. | 4388 | 5880 |
| MFA Financial, Inc. | 15473 | 149160 |
| Nexpoint Real Estate Finance, Inc. | 971 | 14342 |
| Orchid Island Capital, Inc. | 24482 | 190960 |
| PennyMac Mortgage Investment Trust | 12454 | 147331 |
| Ready Capital Corp. | 24250 | 51653 |
| Redwood Trust, Inc. | 22713 | 124467 |
| Rithm Capital Corp. | 94761 | 1036685 |
| Rithm Property Trust, Inc. | 626 | 10310 |
| Seven Hills Realty Trust | 4657 | 40143 |
| Starwood Property Trust, Inc. | 55966 | 1003470 |
| Sunrise Realty Trust, Inc. | 1165 | 10951 |
| TPG RE Finance Trust, Inc. | 9161 | 82724 |
| Two Harbors Investment Corp. | 16220 | 186043 |
|  |  | 10220667 |
| **Multi-Utilities — 0.5%** | **Multi-Utilities — 0.5%** |  |
| Avista Corp. | 12829 | 529709 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Multi-Utilities (continued)** | **Multi-Utilities (continued)** |  |
| Black Hills Corp. | 11481 | $837883 |
| NiSource, Inc. | 74840 | 3314664 |
| Northwestern Energy Group, Inc. | 9470 | 642634 |
| Unitil Corp. | 3082 | 156905 |
|  |  | 5481795 |
| **Office REITs — 0.6%** | **Office REITs — 0.6%** |  |
| Brandywine Realty Trust | 25479 | 72106 |
| BXP, Inc. | 25324 | 1637703 |
| COPT Defense Properties | 17657 | 544012 |
| Cousins Properties, Inc. | 26697 | 673832 |
| Douglas Emmett, Inc. | 13848 | 146235 |
| Easterly Government Properties, Inc. | 5957 | 139334 |
| Empire State Realty Trust, Inc., Class A | 20316 | 134695 |
| Franklin Street Properties Corp. | 10872 | 9132 |
| Highwoods Properties, Inc. | 17818 | 460595 |
| Hudson Pacific Properties, Inc.<sup>(a)</sup> | 9014 | 77701 |
| JBG SMITH Properties | 10457 | 176096 |
| Kilroy Realty Corp. | 19014 | 655603 |
| NET Lease Office Properties | 2126 | 41478 |
| Peakstone Realty Trust | 5556 | 86785 |
| Piedmont Realty Trust, Inc., Class A | 18423 | 155122 |
| Postal Realty Trust, Inc., Class A | 3425 | 62438 |
| SL Green Realty Corp. | 11137 | 498715 |
| Vornado Realty Trust | 28566 | 910684 |
|  |  | 6482266 |
| **Oil, Gas & Consumable Fuels — 2.7%** | **Oil, Gas & Consumable Fuels — 2.7%** |  |
| Antero Midstream Corp. | 53004 | 997535 |
| Antero Resources Corp.<sup>(a)</sup> | 45733 | 1663309 |
| APA Corp. | 56249 | 1485536 |
| Ardmore Shipping Corp. | 5582 | 72119 |
| BKV Corp.<sup>(a)</sup> | 3654 | 108707 |
| California Resources Corp. | 11350 | 607225 |
| Calumet, Inc.<sup>(a)</sup> | 10440 | 233960 |
| Centrus Energy Corp., Class A<sup>(a)(b)</sup> | 2629 | 731598 |
| Chord Energy Corp. | 9355 | 937745 |
| Clean Energy Fuels Corp.<sup>(a)</sup> | 27291 | 60040 |
| CNX Resources Corp.<sup>(a)</sup> | 20305 | 787834 |
| Comstock Resources, Inc.<sup>(a)(b)</sup> | 11619 | 282923 |
| Core Natural Resources, Inc. | 7942 | 757508 |
| Crescent Energy Co., Class A | 34941 | 341374 |
| CVR Energy, Inc.<sup>(a)</sup> | 4770 | 108470 |
| Delek U.S. Holdings, Inc. | 9474 | 279578 |
| DHT Holdings, Inc. | 19671 | 281885 |
| Diversified Energy Co. | 8443 | 113052 |
| Dorian LPG Ltd. | 5647 | 166756 |
| DT Midstream, Inc.<sup>(a)</sup> | 15691 | 1977380 |
| Empire Petroleum Corp.<sup>(a)(b)</sup> | 1329 | 4014 |
| Encore Energy Corp.<sup>(a)</sup> | 27220 | 86560 |
| Energy Fuels, Inc./Canada<sup>(a)(b)</sup> | 36220 | 812777 |
| Epsilon Energy Ltd. | 1559 | 7779 |
| Evolution Petroleum Corp. | 2595 | 10224 |
| Excelerate Energy, Inc., Class A | 3726 | 139166 |
| FLEX LNG Ltd. | 4550 | 121485 |
| FutureFuel Corp. | 3064 | 10081 |
| Gevo, Inc.<sup>(a)(b)</sup> | 32786 | 64261 |
| Golar LNG Ltd. | 14926 | 605846 |
| Granite Ridge Resources, Inc. | 6632 | 33293 |
| Green Plains, Inc.<sup>(a)</sup> | 9260 | 106120 |
| Gulfport Energy Corp.<sup>(a)</sup> | 2337 | 477145 |
| HF Sinclair Corp. | 24454 | 1271363 |
| HighPeak Energy, Inc.<sup>(b)</sup> | 2690 | 12240 |
| Infinity Natural Resources, Inc., Class A<sup>(a)</sup> | 2230 | 35412 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |  |
| International Seaways, Inc. | 6703 | $399834 |
| Kinetik Holdings, Inc., Class A | 6536 | 267388 |
| Kolibri Global Energy, Inc.<sup>(a)(b)</sup> | 5451 | 21968 |
| Kosmos Energy Ltd.<sup>(a)(b)</sup> | 72453 | 114476 |
| Lightbridge Corp.<sup>(a)(b)</sup> | 5276 | 81171 |
| Magnolia Oil & Gas Corp., Class A | 28077 | 716244 |
| Matador Resources Co. | 18626 | 842640 |
| Murphy Oil Corp. | 20950 | 630385 |
| NACCO Industries, Inc., Class A | 484 | 23827 |
| Navigator Holdings Ltd. | 4482 | 83051 |
| New Fortress Energy, Inc., Class A<sup>(a)(b)</sup> | 26317 | 35002 |
| NextDecade Corp.<sup>(a)(b)</sup> | 20965 | 110905 |
| Nordic American Tankers Ltd. | 29857 | 124205 |
| Northern Oil & Gas, Inc. | 16369 | 409225 |
| Ovintiv, Inc. | 41124 | 1787660 |
| Par Pacific Holdings, Inc.<sup>(a)(b)</sup> | 8188 | 309015 |
| PBF Energy, Inc., Class A | 12974 | 434110 |
| Peabody Energy Corp. | 19631 | 692189 |
| Permian Resources Corp., Class A | 112870 | 1820593 |
| Prairie Operating Co.<sup>(a)(b)</sup> | 1508 | 2760 |
| PrimeEnergy Resources Corp.<sup>(a)</sup> | 67 | 12267 |
| Range Resources Corp. | 37288 | 1411351 |
| REX American Resources Corp.<sup>(a)</sup> | 4438 | 150049 |
| Riley Exploration Permian, Inc. | 1889 | 52986 |
| Sable Offshore Corp., Class A<sup>(a)(b)</sup> | 12102 | 117147 |
| SandRidge Energy, Inc. | 4314 | 68377 |
| Scorpio Tankers, Inc. | 7181 | 456855 |
| SFL Corp. Ltd. | 18682 | 165523 |
| SM Energy Co. | 41346 | 805007 |
| Summit Midstream Corp.<sup>(a)</sup> | 1157 | 33217 |
| Talos Energy, Inc.<sup>(a)</sup> | 22173 | 264302 |
| Teekay Corp. Ltd. | 8272 | 84623 |
| Teekay Tankers Ltd., Class A | 3696 | 238466 |
| Uranium Energy Corp.<sup>(a)(b)</sup> | 74660 | 1287138 |
| VAALCO Energy, Inc. | 15627 | 80323 |
| Viper Energy, Inc., Class A | 26466 | 1120570 |
| Vitesse Energy, Inc. | 4052 | 84930 |
| W&T Offshore, Inc. | 15149 | 32873 |
| World Kinect Corp. | 8247 | 221927 |
|  |  | 31386879 |
| **Paper & Forest Products — 0.1%** | **Paper & Forest Products — 0.1%** |  |
| Clearwater Paper Corp.<sup>(a)</sup> | 2405 | 40452 |
| Louisiana-Pacific Corp. | 9941 | 832459 |
| Magnera Corp.<sup>(a)</sup> | 4999 | 65337 |
| Sylvamo Corp. | 5125 | 250818 |
|  |  | 1189066 |
| **Passenger Airlines**<sup>(a)</sup> **— 0.4%** | **Passenger Airlines**<sup>(a)</sup> **— 0.4%** |  |
| Alaska Air Group, Inc. | 18031 | 916516 |
| Allegiant Travel Co. | 2087 | 184971 |
| American Airlines Group, Inc. | 103521 | 1376829 |
| Frontier Group Holdings, Inc.<sup>(b)</sup> | 12692 | 58891 |
| JetBlue Airways Corp. | 46840 | 228111 |
| Joby Aviation, Inc.<sup>(b)</sup> | 76287 | 806353 |
| SkyWest, Inc. | 6211 | 599486 |
| Sun Country Airlines Holdings, Inc. | 7670 | 134532 |
|  |  | 4305689 |
| **Personal Care Products — 0.2%** | **Personal Care Products — 0.2%** |  |
| Beauty Health Co., Class A<sup>(a)</sup> | 17592 | 26388 |
| BellRing Brands, Inc.<sup>(a)</sup> | 19996 | 497300 |
| Coty, Inc., Class A<sup>(a)(b)</sup> | 53298 | 168955 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Personal Care Products (continued)** | **Personal Care Products (continued)** |  |
| Edgewell Personal Care Co. | 6825 | $132814 |
| elf Beauty, Inc.<sup>(a)</sup> | 8597 | 730659 |
| Herbalife Ltd.<sup>(a)</sup> | 15869 | 273582 |
| Honest Co., Inc.<sup>(a)(b)</sup> | 14597 | 36055 |
| Interparfums, Inc. | 2781 | 271342 |
| Lifevantage Corp. | 1631 | 8644 |
| Medifast, Inc.<sup>(a)(b)</sup> | 4277 | 48929 |
| Nature's Sunshine Products, Inc.<sup>(a)</sup> | 2147 | 54147 |
| Nu Skin Enterprises, Inc., Class A | 7141 | 75766 |
| Olaplex Holdings, Inc.<sup>(a)</sup> | 24722 | 39061 |
| USANA Health Sciences, Inc.<sup>(a)</sup> | 1759 | 38170 |
| Waldencast PLC, Class A<sup>(a)</sup> | 4217 | 7633 |
|  |  | 2409445 |
| **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** |  |
| Aardvark Therapeutics, Inc.<sup>(a)(b)</sup> | 767 | 9963 |
| Aclaris Therapeutics, Inc.<sup>(a)</sup> | 13779 | 48364 |
| Alumis, Inc.<sup>(a)</sup> | 9862 | 241718 |
| Amneal Pharmaceuticals, Inc., Class A<sup>(a)</sup> | 22925 | 313614 |
| Amphastar Pharmaceuticals, Inc.<sup>(a)</sup> | 5582 | 147867 |
| Amylyx Pharmaceuticals, Inc.<sup>(a)</sup> | 13943 | 199245 |
| ANI Pharmaceuticals, Inc.<sup>(a)</sup> | 2753 | 225333 |
| Aquestive Therapeutics, Inc.<sup>(a)</sup> | 17888 | 52770 |
| Arvinas, Inc.<sup>(a)</sup> | 10250 | 137145 |
| Atea Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 9408 | 39890 |
| Avadel Pharmaceuticals PLC<sup>(a)</sup> | 13504 | 291011 |
| Axsome Therapeutics, Inc.<sup>(a)</sup> | 6403 | 1179753 |
| BioAge Labs, Inc.<sup>(a)</sup> | 4247 | 80651 |
| Biote Corp., Class A<sup>(a)(b)</sup> | 2285 | 4776 |
| Collegium Pharmaceutical, Inc.<sup>(a)</sup> | 4842 | 222345 |
| Corcept Therapeutics, Inc.<sup>(a)</sup> | 14816 | 590714 |
| CorMedix, Inc.<sup>(a)(b)</sup> | 12076 | 93710 |
| Crinetics Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 15448 | 771473 |
| Definium Therapeutics, Inc.<sup>(a)(b)</sup> | 15160 | 255901 |
| Edgewise Therapeutics, Inc.<sup>(a)</sup> | 10045 | 282767 |
| Elanco Animal Health, Inc.<sup>(a)</sup> | 78382 | 1887439 |
| Enliven Therapeutics, Inc.<sup>(a)</sup> | 7072 | 187054 |
| Esperion Therapeutics, Inc.<sup>(a)</sup> | 38230 | 129600 |
| Eton Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 4155 | 62367 |
| Evolus, Inc.<sup>(a)</sup> | 8590 | 40287 |
| EyePoint Pharmaceuticals, Inc.<sup>(a)</sup> | 12136 | 164079 |
| Fulcrum Therapeutics, Inc.<sup>(a)(b)</sup> | 7566 | 81183 |
| Harmony Biosciences Holdings, Inc.<sup>(a)</sup> | 6568 | 239863 |
| Harrow, Inc.<sup>(a)(b)</sup> | 4887 | 200074 |
| Indivior Pharmaceuticals, Inc.<sup>(a)</sup> | 18627 | 659023 |
| Innoviva, Inc.<sup>(a)</sup> | 9264 | 185280 |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> | 9122 | 1500478 |
| Journey Medical Corp.<sup>(a)(b)</sup> | 1587 | 13267 |
| LB Pharmaceuticals, Inc.<sup>(a)</sup> | 3134 | 67224 |
| LENZ Therapeutics, Inc.<sup>(a)(b)</sup> | 2749 | 43489 |
| Ligand Pharmaceuticals, Inc.<sup>(a)</sup> | 3092 | 593973 |
| Liquidia Corp.<sup>(a)(b)</sup> | 9742 | 412963 |
| Maze Therapeutics, Inc.<sup>(a)</sup> | 3078 | 134139 |
| MBX Biosciences, Inc.<sup>(a)</sup> | 4581 | 168810 |
| MediWound Ltd.<sup>(a)(b)</sup> | 1124 | 20378 |
| Nuvation Bio, Inc., Class A<sup>(a)(b)</sup> | 37350 | 195714 |
| Ocular Therapeutix, Inc.<sup>(a)</sup> | 28702 | 262336 |
| Omeros Corp.<sup>(a)(b)</sup> | 9808 | 114656 |
| Organon & Co. | 40897 | 349260 |
| Pacira BioSciences, Inc.<sup>(a)(b)</sup> | 6997 | 143718 |
| Perrigo Co. PLC | 22018 | 312876 |
| Phathom Pharmaceuticals, Inc.<sup>(a)</sup> | 6699 | 91575 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |  |
| Phibro Animal Health Corp., Class A | 3300 | $132495 |
| Prestige Consumer Healthcare, Inc.<sup>(a)</sup> | 7528 | 485330 |
| Rapport Therapeutics, Inc.<sup>(a)</sup> | 4544 | 120916 |
| Septerna, Inc.<sup>(a)</sup> | 3147 | 73451 |
| SIGA Technologies, Inc. | 6704 | 44917 |
| Supernus Pharmaceuticals, Inc.<sup>(a)</sup> | 8108 | 390481 |
| Tarsus Pharmaceuticals, Inc.<sup>(a)</sup> | 6177 | 398664 |
| Terns Pharmaceuticals, Inc.<sup>(a)</sup> | 13801 | 477515 |
| Theravance Biopharma, Inc.<sup>(a)(b)</sup> | 6365 | 120553 |
| Third Harmonic Bio, Inc.<sup>(a)(c)</sup> | 3754 | 113 |
| Trevi Therapeutics, Inc.<sup>(a)</sup> | 15184 | 158976 |
| Tvardi Therapeutics, Inc.<sup>(a)</sup> | 603 | 2394 |
| Viatris, Inc. | 184928 | 2420707 |
| WaVe Life Sciences Ltd.<sup>(a)</sup> | 19020 | 246119 |
| Xeris Biopharma Holdings, Inc.<sup>(a)</sup> | 22912 | 168632 |
| Zevra Therapeutics, Inc.<sup>(a)(b)</sup> | 8603 | 77427 |
|  |  | 18768805 |
| **Professional Services — 1.7%** | **Professional Services — 1.7%** |  |
| Alight, Inc., Class A | 64881 | 99268 |
| Amentum Holdings, Inc.<sup>(a)</sup> | 25634 | 917185 |
| Asure Software, Inc.<sup>(a)(b)</sup> | 4391 | 42241 |
| Barrett Business Services, Inc. | 3356 | 127528 |
| BlackSky Technology, Inc., Class A<sup>(a)(b)</sup> | 4374 | 96534 |
| CACI International, Inc., Class A<sup>(a)</sup> | 3400 | 2109972 |
| CBIZ, Inc.<sup>(a)(b)</sup> | 7817 | 307599 |
| Clarivate PLC<sup>(a)</sup> | 55902 | 148140 |
| Concentrix Corp. | 7042 | 263019 |
| Conduent, Inc.<sup>(a)(b)</sup> | 27236 | 37858 |
| CRA International, Inc. | 984 | 185917 |
| CSG Systems International, Inc. | 4249 | 338858 |
| Dayforce, Inc.<sup>(a)</sup> | 24274 | 1681460 |
| ExlService Holdings, Inc.<sup>(a)</sup> | 23941 | 937290 |
| Exponent, Inc. | 7789 | 559795 |
| Falcon's Beyond Global, Inc., Class A<sup>(a)(b)</sup> | 2726 | 16274 |
| First Advantage Corp.<sup>(a)(b)</sup> | 12216 | 164916 |
| Forrester Research, Inc.<sup>(a)</sup> | 977 | 7924 |
| Franklin Covey Co.<sup>(a)(b)</sup> | 1459 | 29720 |
| FTI Consulting, Inc.<sup>(a)</sup> | 4723 | 824966 |
| Genpact Ltd. | 25451 | 1122389 |
| HireQuest, Inc. | 514 | 5772 |
| Huron Consulting Group, Inc.<sup>(a)</sup> | 2607 | 440583 |
| IBEX Holdings Ltd.<sup>(a)</sup> | 1537 | 57176 |
| ICF International, Inc. | 2804 | 261473 |
| Innodata, Inc.<sup>(a)(b)</sup> | 4540 | 251698 |
| Insperity, Inc. | 5531 | 236340 |
| KBR, Inc. | 20302 | 869129 |
| Kelly Services, Inc., Class A | 4472 | 48253 |
| Kforce, Inc. | 2683 | 94790 |
| Korn Ferry | 8007 | 556246 |
| Legalzoom.com, Inc.<sup>(a)</sup> | 20236 | 179898 |
| ManpowerGroup, Inc. | 8508 | 309096 |
| Maximus, Inc. | 8898 | 840327 |
| Mistras Group, Inc.<sup>(a)</sup> | 2658 | 37584 |
| Parsons Corp.<sup>(a)</sup> | 8127 | 569378 |
| Paylocity Holding Corp.<sup>(a)</sup> | 7016 | 947020 |
| Planet Labs PBC, Class A<sup>(a)(b)</sup> | 36687 | 916074 |
| RCM Technologies, Inc.<sup>(a)</sup> | 627 | 13048 |
| Resolute Holdings Management, Inc.<sup>(a)(b)</sup> | 604 | 123192 |
| Resources Connection, Inc. | 5413 | 24521 |
| Robert Half, Inc. | 15990 | 553414 |
| Science Applications International Corp. | 7492 | 762386 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Professional Services (continued)** | **Professional Services (continued)** |  |
| Skillsoft Corp., Class A<sup>(a)</sup> | 695 | $6290 |
| Spire Global, Inc., Class A<sup>(a)(b)</sup> | 3078 | 35243 |
| TIC Solutions, Inc.<sup>(a)(b)</sup> | 31472 | 317867 |
| TriNet Group, Inc. | 4556 | 279009 |
| TrueBlue, Inc.<sup>(a)</sup> | 4668 | 25021 |
| TTEC Holdings, Inc.<sup>(a)</sup> | 2564 | 8179 |
| Upwork, Inc.<sup>(a)</sup> | 19211 | 384796 |
| Verra Mobility Corp., Class A<sup>(a)</sup> | 24504 | 472927 |
| Willdan Group, Inc.<sup>(a)(b)</sup> | 2127 | 268427 |
|  |  | 19914010 |
| **Real Estate Management & Development — 0.7%** | **Real Estate Management & Development — 0.7%** |  |
| American Realty Investors, Inc.<sup>(a)</sup> | 667 | 11492 |
| Compass, Inc., Class A<sup>(a)</sup> | 100762 | 1261540 |
| Cushman & Wakefield Ltd.<sup>(a)</sup> | 13512 | 222137 |
| Douglas Elliman, Inc.<sup>(a)</sup> | 11602 | 31325 |
| eXp World Holdings, Inc. | 15565 | 140708 |
| Forestar Group, Inc.<sup>(a)(b)</sup> | 2887 | 75120 |
| FRP Holdings, Inc.<sup>(a)</sup> | 1340 | 32039 |
| Howard Hughes Holdings, Inc.<sup>(a)(b)</sup> | 5072 | 414180 |
| Jones Lang LaSalle, Inc.<sup>(a)</sup> | 7489 | 2680388 |
| Kennedy-Wilson Holdings, Inc. | 17413 | 171518 |
| Marcus & Millichap, Inc. | 3741 | 101755 |
| Maui Land & Pineapple Co., Inc.<sup>(a)</sup> | 1116 | 19117 |
| Newmark Group, Inc., Class A | 24938 | 444645 |
| RE/MAX Holdings, Inc., Class A<sup>(a)</sup> | 1639 | 12751 |
| Real Brokerage, Inc.<sup>(a)</sup> | 23859 | 84461 |
| RMR Group, Inc., Class A | 2232 | 33815 |
| Seaport Entertainment Group, Inc.<sup>(a)</sup> | 764 | 14432 |
| St. Joe Co. | 6009 | 397736 |
| Stratus Properties, Inc.<sup>(a)</sup> | 583 | 17298 |
| Tejon Ranch Co.<sup>(a)</sup> | 2682 | 43153 |
| Transcontinental Realty Investors, Inc.<sup>(a)</sup> | 239 | 12720 |
| Zillow Group, Inc., Class A<sup>(a)</sup> | 7680 | 478003 |
| Zillow Group, Inc., Class C<sup>(a)</sup> | 26209 | 1651953 |
|  |  | 8352286 |
| **Residential REITs — 0.6%** | **Residential REITs — 0.6%** |  |
| American Homes 4 Rent, Class A | 53740 | 1683137 |
| Apartment Investment and Management Co., Class A | 20226 | 118929 |
| BRT Apartments Corp. | 862 | 12663 |
| Camden Property Trust | 16963 | 1849815 |
| Centerspace | 2506 | 161061 |
| Clipper Realty, Inc. | 8171 | 28517 |
| Equity LifeStyle Properties, Inc. | 30328 | 1915820 |
| Independence Realty Trust, Inc. | 38309 | 639760 |
| NexPoint Residential Trust, Inc. | 4272 | 129100 |
| UMH Properties, Inc. | 11059 | 172852 |
| Veris Residential, Inc. | 11929 | 181201 |
|  |  | 6892855 |
| **Retail REITs — 1.3%** | **Retail REITs — 1.3%** |  |
| Acadia Realty Trust | 20427 | 408744 |
| Agree Realty Corp. | 17369 | 1254563 |
| Alexander's, Inc. | 330 | 80817 |
| Brixmor Property Group, Inc. | 48546 | 1300547 |
| CBL & Associates Properties, Inc. | 3270 | 117066 |
| Curbline Properties Corp. | 14122 | 342459 |
| Federal Realty Investment Trust | 13678 | 1383666 |
| FrontView REIT, Inc. | 2070 | 33969 |
| Getty Realty Corp. | 8488 | 253452 |
| InvenTrust Properties Corp. | 11868 | 348801 |
| Kimco Realty Corp. | 107163 | 2258996 |
| Kite Realty Group Trust | 34226 | 803969 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Retail REITs (continued)** | **Retail REITs (continued)** |  |
| Macerich Co. | 42013 | $795306 |
| NETSTREIT Corp. | 12982 | 244581 |
| NNN REIT, Inc. | 30600 | 1275102 |
| Phillips Edison & Co., Inc. | 19008 | 688660 |
| Regency Centers Corp. | 28743 | 2094502 |
| Saul Centers, Inc. | 2376 | 75390 |
| SITE Centers Corp. | 12176 | 74517 |
| Tanger, Inc. | 17413 | 569753 |
| Urban Edge Properties | 20871 | 405524 |
| Whitestone REIT | 7567 | 107754 |
|  |  | 14918138 |
| **Semiconductors & Semiconductor Equipment — 2.9%** | **Semiconductors & Semiconductor Equipment — 2.9%** |  |
| ACM Research, Inc., Class A<sup>(a)</sup> | 7646 | 444386 |
| Aehr Test Systems<sup>(a)(b)</sup> | 4333 | 111098 |
| Aeluma, Inc.<sup>(a)</sup> | 1482 | 23401 |
| Allegro MicroSystems, Inc.<sup>(a)</sup> | 19801 | 730855 |
| Alpha & Omega Semiconductor Ltd.<sup>(a)</sup> | 3814 | 84289 |
| Ambarella, Inc.<sup>(a)</sup> | 6235 | 399289 |
| Ambiq Micro, Inc.<sup>(a)(b)</sup> | 909 | 27624 |
| Amkor Technology, Inc.<sup>(b)</sup> | 18394 | 888982 |
| Astera Labs, Inc.<sup>(a)</sup> | 19902 | 2997639 |
| Atomera, Inc.<sup>(a)(b)</sup> | 5643 | 16534 |
| Axcelis Technologies, Inc.<sup>(a)</sup> | 4857 | 427756 |
| Blaize Holdings, Inc.<sup>(a)(b)</sup> | 13539 | 18413 |
| CEVA, Inc.<sup>(a)</sup> | 3407 | 71854 |
| Cirrus Logic, Inc.<sup>(a)</sup> | 8055 | 1049889 |
| Cohu, Inc.<sup>(a)</sup> | 6882 | 196412 |
| Credo Technology Group Holding Ltd.<sup>(a)</sup> | 23933 | 2998326 |
| Diodes, Inc.<sup>(a)</sup> | 7035 | 416402 |
| Enphase Energy, Inc.<sup>(a)</sup> | 20322 | 751508 |
| FormFactor, Inc.<sup>(a)</sup> | 11844 | 834884 |
| Ichor Holdings Ltd.<sup>(a)</sup> | 5084 | 154249 |
| Impinj, Inc.<sup>(a)</sup> | 4319 | 596454 |
| indie Semiconductor, Inc., Class A<sup>(a)(b)</sup> | 29407 | 120569 |
| Kopin Corp.<sup>(a)(b)</sup> | 23406 | 59685 |
| Kulicke & Soffa Industries, Inc. | 8620 | 494185 |
| Lattice Semiconductor Corp.<sup>(a)</sup> | 21573 | 1737058 |
| MACOM Technology Solutions Holdings, Inc., <br> Class H<sup>(a)</sup><br>| 9911 | 2171104 |
| MaxLinear, Inc.<sup>(a)</sup> | 12249 | 212520 |
| MKS, Inc. | 10509 | 2473924 |
| Navitas Semiconductor Corp.<sup>(a)(b)</sup> | 25147 | 215761 |
| NVE Corp. | 665 | 44881 |
| Onto Innovation, Inc.<sup>(a)</sup> | 7710 | 1557805 |
| PDF Solutions, Inc.<sup>(a)</sup> | 5460 | 173901 |
| Penguin Solutions, Inc.<sup>(a)</sup> | 8249 | 158463 |
| Photronics, Inc.<sup>(a)</sup> | 9385 | 324439 |
| Power Integrations, Inc. | 8987 | 412863 |
| Qorvo, Inc.<sup>(a)</sup> | 13204 | 1031364 |
| Rambus, Inc.<sup>(a)</sup> | 16898 | 1923499 |
| Rigetti Computing, Inc.<sup>(a)(b)</sup> | 49400 | 897598 |
| Semtech Corp.<sup>(a)</sup> | 13786 | 1099433 |
| Silicon Laboratories, Inc.<sup>(a)</sup> | 5199 | 740598 |
| SiTime Corp.<sup>(a)</sup> | 3338 | 1212061 |
| SkyWater Technology, Inc.<sup>(a)</sup> | 3773 | 119453 |
| Skyworks Solutions, Inc. | 23496 | 1310137 |
| Synaptics, Inc.<sup>(a)</sup> | 5997 | 494812 |
| Ultra Clean Holdings, Inc.<sup>(a)</sup> | 6751 | 294884 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Semiconductors & Semiconductor Equipment (continued)** | **Semiconductors & Semiconductor Equipment (continued)** |  |
| Universal Display Corp. | 6902 | $792488 |
| Veeco Instruments, Inc.<sup>(a)</sup> | 9311 | 290783 |
|  |  | 33604512 |
| **Software — 4.2%** | **Software — 4.2%** |  |
| 8x8, Inc.<sup>(a)</sup> | 18324 | 30418 |
| A10 Networks, Inc. | 11051 | 192729 |
| ACI Worldwide, Inc.<sup>(a)</sup> | 16638 | 721424 |
| Adeia, Inc. | 16940 | 306445 |
| Agilysys, Inc.<sup>(a)</sup> | 3976 | 344918 |
| Airship AI Holdings, Inc., Class A<sup>(a)(b)</sup> | 3489 | 10851 |
| Alarm.com Holdings, Inc.<sup>(a)</sup> | 7227 | 352533 |
| Alkami Technology, Inc.<sup>(a)</sup> | 10234 | 216858 |
| Amplitude, Inc., Class A<sup>(a)</sup> | 13076 | 119907 |
| Appfolio, Inc., Class A<sup>(a)</sup> | 3460 | 656985 |
| Appian Corp., Class A<sup>(a)</sup> | 5825 | 162518 |
| Arteris, Inc.<sup>(a)</sup> | 4912 | 73729 |
| Asana, Inc., Class A<sup>(a)</sup> | 14094 | 144464 |
| AudioEye, Inc.<sup>(a)</sup> | 694 | 6537 |
| Aurora Innovation, Inc., Class A<sup>(a)(b)</sup> | 185501 | 779104 |
| AvePoint, Inc., Class A<sup>(a)</sup> | 22997 | 267455 |
| Bentley Systems, Inc., Class B | 24749 | 869185 |
| Bill Holdings, Inc.<sup>(a)</sup> | 12909 | 557282 |
| Bit Digital, Inc.<sup>(a)(b)</sup> | 52618 | 106815 |
| Bitdeer Technologies Group, Class A<sup>(a)</sup> | 13961 | 182051 |
| Blackbaud, Inc.<sup>(a)</sup> | 5820 | 312534 |
| BlackLine, Inc.<sup>(a)</sup> | 8076 | 375292 |
| Blend Labs, Inc., Class A<sup>(a)(b)</sup> | 33140 | 78873 |
| Box, Inc., Class A<sup>(a)(b)</sup> | 22169 | 561984 |
| Braze, Inc., Class A<sup>(a)</sup> | 12939 | 269390 |
| C3.ai, Inc., Class A<sup>(a)(b)</sup> | 18724 | 206151 |
| CCC Intelligent Solutions Holdings, Inc.<sup>(a)(b)</sup> | 91629 | 694548 |
| Cerence, Inc.<sup>(a)</sup> | 6962 | 78879 |
| Cipher Mining, Inc.<sup>(a)</sup> | 51113 | 815763 |
| Cleanspark, Inc.<sup>(a)(b)</sup> | 42470 | 502845 |
| Clear Secure, Inc., Class A | 13451 | 438772 |
| Clearwater Analytics Holdings, Inc., Class A<sup>(a)</sup> | 43356 | 1044446 |
| Commvault Systems, Inc.<sup>(a)</sup> | 6870 | 588759 |
| Confluent, Inc., Class A<sup>(a)</sup> | 45784 | 1398243 |
| Consensus Cloud Solutions, Inc.<sup>(a)</sup> | 3229 | 68971 |
| Core Scientific, Inc.<sup>(a)</sup> | 44490 | 800375 |
| CS Disco, Inc.<sup>(a)</sup> | 4146 | 25913 |
| Daily Journal Corp.<sup>(a)(b)</sup> | 186 | 109065 |
| Digimarc Corp.<sup>(a)(b)</sup> | 2533 | 15527 |
| Digital Turbine, Inc.<sup>(a)</sup> | 15897 | 82982 |
| Dolby Laboratories, Inc., Class A | 9582 | 615069 |
| Domo, Inc., Class B<sup>(a)(b)</sup> | 5582 | 32766 |
| Dropbox, Inc., Class A<sup>(a)</sup> | 28794 | 733671 |
| D-Wave Quantum, Inc.<sup>(a)(b)</sup> | 52265 | 1109063 |
| Dynatrace, Inc.<sup>(a)</sup> | 46339 | 1765053 |
| eGain Corp.<sup>(a)</sup> | 3471 | 35647 |
| Elastic NV<sup>(a)</sup> | 14720 | 970490 |
| EverCommerce, Inc.<sup>(a)(b)</sup> | 3177 | 38283 |
| Expensify, Inc., Class A<sup>(a)</sup> | 11649 | 16891 |
| Five9, Inc.<sup>(a)</sup> | 11579 | 204485 |
| Freshworks, Inc., Class A<sup>(a)</sup> | 30890 | 332994 |
| Gen Digital, Inc. | 86667 | 2079141 |
| Gitlab, Inc., Class A<sup>(a)</sup> | 22325 | 780928 |
| Guidewire Software, Inc.<sup>(a)</sup> | 13375 | 1882665 |
| Hut 8 Corp.<sup>(a)</sup> | 14706 | 821036 |
| I3 Verticals, Inc., Class A<sup>(a)(b)</sup> | 3281 | 72871 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Software (continued)** | **Software (continued)** |  |
| Intapp, Inc.<sup>(a)</sup> | 9310 | $316075 |
| InterDigital, Inc. | 4030 | 1315553 |
| Jamf Holding Corp.<sup>(a)</sup> | 13302 | 173591 |
| Kaltura, Inc.<sup>(a)</sup> | 14439 | 23536 |
| Life360, Inc.<sup>(a)</sup> | 3268 | 187224 |
| LiveRamp Holdings, Inc.<sup>(a)</sup> | 9738 | 237120 |
| Manhattan Associates, Inc.<sup>(a)</sup> | 9491 | 1433236 |
| MARA Holdings, Inc.<sup>(a)(b)</sup> | 57924 | 550278 |
| Mitek Systems, Inc.<sup>(a)</sup> | 6892 | 69058 |
| N-able, Inc.<sup>(a)</sup> | 10992 | 66721 |
| nCino, Inc.<sup>(a)(b)</sup> | 17354 | 370508 |
| NCR Voyix Corp.<sup>(a)</sup> | 25211 | 250093 |
| NextNav, Inc.<sup>(a)</sup> | 15488 | 222408 |
| Nutanix, Inc., Class A<sup>(a)</sup> | 40782 | 1603956 |
| ON24, Inc.<sup>(a)</sup> | 7691 | 61297 |
| OneSpan, Inc. | 5596 | 65921 |
| Ooma, Inc.<sup>(a)</sup> | 3448 | 40514 |
| Pagaya Technologies Ltd., Class A<sup>(a)</sup> | 7277 | 141101 |
| PagerDuty, Inc.<sup>(a)</sup> | 12508 | 132585 |
| PAR Technology Corp.<sup>(a)</sup> | 6034 | 158151 |
| Pegasystems, Inc. | 13853 | 605238 |
| Porch Group, Inc.<sup>(a)</sup> | 12709 | 100274 |
| Procore Technologies, Inc.<sup>(a)(b)</sup> | 18059 | 1020153 |
| Progress Software Corp.<sup>(a)</sup> | 7058 | 288813 |
| Q2 Holdings, Inc.<sup>(a)</sup> | 9860 | 603925 |
| Qualys, Inc.<sup>(a)</sup> | 5663 | 746950 |
| Rapid7, Inc.<sup>(a)</sup> | 9619 | 114658 |
| Red Violet, Inc. | 1627 | 73996 |
| ReposiTrak, Inc.<sup>(b)</sup> | 1533 | 16280 |
| Rezolve AI PLC<sup>(a)(b)</sup> | 23358 | 60264 |
| Rimini Street, Inc.<sup>(a)(b)</sup> | 8507 | 29349 |
| RingCentral, Inc., Class A<sup>(a)</sup> | 12491 | 323267 |
| Riot Platforms, Inc.<sup>(a)</sup> | 54074 | 836525 |
| Rubrik, Inc., Class A<sup>(a)</sup> | 21115 | 1181384 |
| SailPoint, Inc.<sup>(a)(b)</sup> | 9401 | 147502 |
| Sapiens International Corp. NV<sup>(a)</sup> | 4701 | 204494 |
| SEMrush Holdings, Inc., Class A<sup>(a)</sup> | 6911 | 82172 |
| SentinelOne, Inc., Class A<sup>(a)</sup> | 47439 | 663197 |
| Silvaco Group, Inc.<sup>(a)</sup> | 1222 | 5475 |
| SoundHound AI, Inc., Class A<sup>(a)(b)</sup> | 58253 | 492820 |
| SoundThinking, Inc.<sup>(a)</sup> | 1458 | 10177 |
| Sprinklr, Inc., Class A<sup>(a)</sup> | 16429 | 104817 |
| Sprout Social, Inc., Class A<sup>(a)</sup> | 7741 | 70056 |
| SPS Commerce, Inc.<sup>(a)</sup> | 6147 | 548681 |
| Synchronoss Technologies, Inc.<sup>(a)(b)</sup> | 1475 | 12980 |
| Telos Corp.<sup>(a)</sup> | 8840 | 48266 |
| Tenable Holdings, Inc.<sup>(a)</sup> | 18331 | 404382 |
| Teradata Corp.<sup>(a)</sup> | 14648 | 417761 |
| Terawulf, Inc.<sup>(a)(b)</sup> | 47867 | 639982 |
| UiPath, Inc., Class A<sup>(a)</sup> | 64496 | 812005 |
| Unity Software, Inc.<sup>(a)</sup> | 50942 | 1482412 |
| Varonis Systems, Inc.<sup>(a)</sup> | 18387 | 548668 |
| Vertex, Inc., Class A<sup>(a)</sup> | 11583 | 214865 |
| Via Transportation, Inc., Class A<sup>(a)(b)</sup> | 1757 | 40850 |
| Viant Technology, Inc., Class A<sup>(a)</sup> | 2514 | 29715 |
| Weave Communications, Inc.<sup>(a)</sup> | 9780 | 63570 |
| WM Technology, Inc., Class A<sup>(a)</sup> | 16413 | 12686 |
| Workiva, Inc., Class A<sup>(a)</sup> | 7952 | 612463 |
| Xperi, Inc.<sup>(a)</sup> | 7229 | 40916 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Software (continued)** | **Software (continued)** |  |
| Yext, Inc.<sup>(a)</sup> | 16512 | $118226 |
| Zeta Global Holdings Corp., Class A<sup>(a)</sup> | 28733 | 533859 |
|  |  | 47845572 |
| **Specialized REITs — 0.8%** | **Specialized REITs — 0.8%** |  |
| CubeSmart | 36391 | 1365754 |
| EPR Properties | 12226 | 663138 |
| Farmland Partners, Inc. | 6592 | 76533 |
| Fermi, Inc.<sup>(a)</sup> | 6189 | 53968 |
| Four Corners Property Trust, Inc. | 16194 | 399182 |
| Gaming and Leisure Properties, Inc. | 43312 | 1938212 |
| Gladstone Land Corp. | 4000 | 44600 |
| Lamar Advertising Co., Class A | 13625 | 1748224 |
| Millrose Properties, Inc., Class A | 23785 | 708793 |
| National Storage Affiliates Trust | 11292 | 359199 |
| Outfront Media, Inc. | 23588 | 573660 |
| PotlatchDeltic Corp. | 12634 | 527217 |
| Rayonier, Inc. | 26321 | 598540 |
| Safehold, Inc. | 9001 | 127004 |
| Smartstop Self Storage REIT, Inc. | 4411 | 138682 |
|  |  | 9322706 |
| **Specialty Retail — 2.2%** | **Specialty Retail — 2.2%** |  |
| 1-800-Flowers.com, Inc., Class A<sup>(a)(b)</sup> | 2137 | 9232 |
| Abercrombie & Fitch Co., Class A<sup>(a)</sup> | 7204 | 703327 |
| Academy Sports & Outdoors, Inc. | 10250 | 563853 |
| Advance Auto Parts, Inc. | 9201 | 441740 |
| American Eagle Outfitters, Inc. | 24982 | 582330 |
| America's Car-Mart, Inc.<sup>(a)</sup> | 988 | 25411 |
| Arhaus, Inc., Class A<sup>(a)</sup> | 9761 | 99367 |
| Arko Corp., Class A | 11697 | 62111 |
| Asbury Automotive Group, Inc.<sup>(a)</sup> | 3105 | 728154 |
| AutoNation, Inc.<sup>(a)</sup> | 4278 | 876904 |
| BARK, Inc., Class A<sup>(a)(b)</sup> | 18801 | 16733 |
| Barnes & Noble Education, Inc.<sup>(a)(b)</sup> | 2381 | 21310 |
| Bath & Body Works, Inc. | 33907 | 739173 |
| Bed Bath and Beyond, Inc.<sup>(a)(b)</sup> | 8366 | 49443 |
| Boot Barn Holdings, Inc.<sup>(a)</sup> | 4833 | 862594 |
| Buckle, Inc. | 5195 | 245724 |
| Build-A-Bear Workshop, Inc. | 1784 | 106469 |
| Caleres, Inc. | 5269 | 64387 |
| Camping World Holdings, Inc., Class A | 9221 | 121625 |
| CarMax, Inc.<sup>(a)</sup> | 23250 | 1035555 |
| Citi Trends, Inc.<sup>(a)</sup> | 847 | 36548 |
| Designer Brands, Inc., Class A | 4833 | 30641 |
| Dick's Sporting Goods, Inc. | 10008 | 2021616 |
| EVgo, Inc., Class A<sup>(a)(b)</sup> | 20047 | 60342 |
| Five Below, Inc.<sup>(a)</sup> | 8463 | 1621849 |
| Floor & Decor Holdings, Inc., Class A<sup>(a)</sup> | 16647 | 1098036 |
| GameStop Corp., Class A<sup>(a)(b)</sup> | 64016 | 1528702 |
| Gap, Inc. | 36704 | 1026978 |
| Genesco, Inc.<sup>(a)</sup> | 1470 | 42527 |
| Group 1 Automotive, Inc. | 1918 | 679471 |
| Haverty Furniture Cos., Inc. | 2296 | 58135 |
| J Jill, Inc. | 999 | 15594 |
| Lands' End, Inc.<sup>(a)(b)</sup> | 1371 | 24349 |
| Lithia Motors, Inc., Class A | 3811 | 1232630 |
| MarineMax, Inc.<sup>(a)</sup> | 2992 | 80874 |
| Monro, Inc. | 4406 | 82480 |
| Murphy USA, Inc. | 2677 | 1131059 |
| National Vision Holdings, Inc.<sup>(a)(b)</sup> | 11928 | 314303 |
| OneWater Marine, Inc., Class A<sup>(a)</sup> | 1616 | 21461 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Specialty Retail (continued)** | **Specialty Retail (continued)** |  |
| Outdoor Holding Co.<sup>(a)(b)</sup> | 10672 | $17395 |
| Penske Automotive Group, Inc. | 2925 | 458611 |
| Petco Health & Wellness Co., Inc.<sup>(a)</sup> | 11638 | 31306 |
| RealReal, Inc.<sup>(a)</sup> | 16530 | 242495 |
| Revolve Group, Inc., Class A<sup>(a)</sup> | 6252 | 172868 |
| RH<sup>(a)(b)</sup> | 2347 | 466654 |
| Sally Beauty Holdings, Inc.<sup>(a)</sup> | 15994 | 243429 |
| Shoe Carnival, Inc. | 2792 | 53216 |
| Signet Jewelers Ltd. | 6298 | 581116 |
| Sleep Number Corp.<sup>(a)(b)</sup> | 3622 | 42160 |
| Sonic Automotive, Inc., Class A | 2372 | 142225 |
| Stitch Fix, Inc., Class A<sup>(a)</sup> | 16786 | 80573 |
| ThredUp, Inc., Class A<sup>(a)</sup> | 14705 | 74701 |
| Torrid Holdings, Inc.<sup>(a)(b)</sup> | 4943 | 5684 |
| Upbound Group, Inc. | 8292 | 156719 |
| Urban Outfitters, Inc.<sup>(a)</sup> | 9556 | 677043 |
| Valvoline, Inc.<sup>(a)</sup> | 20268 | 663169 |
| Victoria's Secret & Co.<sup>(a)</sup> | 10642 | 580095 |
| Warby Parker, Inc., Class A<sup>(a)</sup> | 14981 | 382165 |
| Wayfair, Inc., Class A<sup>(a)</sup> | 15521 | 1606268 |
| Winmark Corp. | 432 | 194698 |
| Zumiez, Inc.<sup>(a)</sup> | 2000 | 49220 |
|  |  | 25384847 |
| **Technology Hardware, Storage & Peripherals — 1.6%** | **Technology Hardware, Storage & Peripherals — 1.6%** |  |
| Corsair Gaming, Inc.<sup>(a)</sup> | 7716 | 39352 |
| CPI Card Group, Inc.<sup>(a)</sup> | 979 | 12717 |
| Diebold Nixdorf, Inc.<sup>(a)</sup> | 4176 | 288186 |
| Eastman Kodak Co.<sup>(a)</sup> | 7091 | 51906 |
| GPGI, Inc., Class A<sup>(a)</sup> | 9345 | 220262 |
| Immersion Corp. | 4420 | 29702 |
| IonQ, Inc.<sup>(a)(b)</sup> | 52981 | 2118180 |
| Pure Storage, Inc., Class A<sup>(a)</sup> | 49115 | 3415457 |
| Quantum Computing, Inc.<sup>(a)(b)</sup> | 31466 | 291690 |
| Sandisk Corp.<sup>(a)</sup> | 21299 | 12273549 |
| Turtle Beach Corp.<sup>(a)</sup> | 3044 | 36406 |
| Xerox Holdings Corp. | 18801 | 41174 |
|  |  | 18818581 |
| **Textiles, Apparel & Luxury Goods — 1.1%** | **Textiles, Apparel & Luxury Goods — 1.1%** |  |
| Amer Sports, Inc.<sup>(a)</sup> | 23857 | 873882 |
| Birkenstock Holding PLC<sup>(a)</sup> | 8770 | 331155 |
| Capri Holdings Ltd.<sup>(a)</sup> | 17706 | 399625 |
| Carter's, Inc. | 5646 | 195408 |
| Columbia Sportswear Co. | 3919 | 216642 |
| Crocs, Inc.<sup>(a)</sup> | 8000 | 671360 |
| Ermenegildo Zegna NV | 9440 | 82034 |
| Figs, Inc., Class A<sup>(a)</sup> | 13878 | 150021 |
| G-III Apparel Group Ltd. | 6156 | 180679 |
| Kontoor Brands, Inc. | 8766 | 523593 |
| Lakeland Industries, Inc.<sup>(b)</sup> | 1222 | 11511 |
| Movado Group, Inc. | 2667 | 60808 |
| Oxford Industries, Inc. | 2312 | 85197 |
| PVH Corp.<sup>(b)</sup> | 7565 | 471753 |
| Ralph Lauren Corp., Class A | 6001 | 2120814 |
| Rocky Brands, Inc. | 1136 | 36568 |
| Steven Madden Ltd. | 11442 | 502075 |
| Superior Group of Cos., Inc. | 2190 | 21812 |
| Tapestry, Inc. | 32689 | 4148561 |
| Under Armour, Inc., Class A<sup>(a)(b)</sup> | 29982 | 184989 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Textiles, Apparel & Luxury Goods (continued)** | **Textiles, Apparel & Luxury Goods (continued)** |  |
| Under Armour, Inc., Class C<sup>(a)(b)</sup> | 28861 | $175186 |
| VF Corp. | 56243 | 1101800 |
| Wolverine World Wide, Inc. | 12336 | 218594 |
|  |  | 12764067 |
| **Tobacco — 0.0%** | **Tobacco — 0.0%** |  |
| Ispire Technology, Inc.<sup>(a)(b)</sup> | 1708 | 6285 |
| Turning Point Brands, Inc. | 2647 | 320684 |
| Universal Corp. | 3810 | 215608 |
|  |  | 542577 |
| **Trading Companies & Distributors — 1.9%** | **Trading Companies & Distributors — 1.9%** |  |
| Air Lease Corp., Class A | 17040 | 1101295 |
| Alta Equipment Group, Inc., Class A | 3056 | 20659 |
| Applied Industrial Technologies, Inc. | 5956 | 1551002 |
| BlueLinx Holdings, Inc.<sup>(a)</sup> | 1298 | 90289 |
| Boise Cascade Co. | 6159 | 497709 |
| Core & Main, Inc., Class A<sup>(a)</sup> | 30203 | 1611632 |
| Custom Truck One Source, Inc.<sup>(a)</sup> | 9045 | 57164 |
| Distribution Solutions Group, Inc.<sup>(a)(b)</sup> | 1168 | 33160 |
| DNOW, Inc.<sup>(a)</sup> | 28758 | 436834 |
| DXP Enterprises, Inc.<sup>(a)</sup> | 1987 | 258409 |
| EVI Industries, Inc. | 632 | 16242 |
| FTAI Aviation Ltd. | 16111 | 4387348 |
| GATX Corp. | 5609 | 1020333 |
| Global Industrial Co. | 1988 | 60753 |
| Herc Holdings, Inc. | 5198 | 745081 |
| Hudson Technologies, Inc.<sup>(a)</sup> | 6427 | 46082 |
| Karat Packaging, Inc. | 819 | 20041 |
| McGrath RentCorp | 3670 | 409902 |
| MSC Industrial Direct Co., Inc., Class A | 6999 | 590296 |
| NPK International, Inc.<sup>(a)</sup> | 12206 | 168565 |
| QXO, Inc.<sup>(a)(b)</sup> | 96815 | 2147357 |
| Rush Enterprises, Inc., Class A | 10044 | 644724 |
| Rush Enterprises, Inc., Class B | 1327 | 78306 |
| SiteOne Landscape Supply, Inc.<sup>(a)</sup> | 6971 | 1000617 |
| Titan Machinery, Inc.<sup>(a)</sup> | 2969 | 48306 |
| Transcat, Inc.<sup>(a)</sup> | 1372 | 82745 |
| Watsco, Inc. | 5513 | 2130499 |
| WESCO International, Inc. | 7615 | 2204009 |
| Willis Lease Finance Corp. | 556 | 101348 |
| Xometry, Inc., Class A<sup>(a)</sup> | 7084 | 404709 |
|  |  | 21965416 |
| **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** |  |
| Sky Harbour Group Corp.<sup>(a)(b)</sup> | 2830 | 26149 |
| **Water Utilities — 0.3%** | **Water Utilities — 0.3%** |  |
| American States Water Co. | 5657 | 412735 |
| Cadiz, Inc.<sup>(a)(b)</sup> | 6768 | 38172 |
| California Water Service Group | 8960 | 400512 |
| Consolidated Water Co. Ltd. | 2091 | 79207 |
| Essential Utilities, Inc. | 44539 | 1727668 |
| Global Water Resources, Inc. | 1533 | 13291 |
| H2O America | 4826 | 251145 |
| Middlesex Water Co. | 2627 | 137602 |
| Pure Cycle Corp.<sup>(a)</sup> | 2457 | 28452 |
| York Water Co. | 1540 | 51713 |
|  |  | 3140497 |
| **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** |  |
| Gogo, Inc.<sup>(a)</sup> | 10679 | 49017 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** |  |
| Millicom International Cellular SA | 15792 | $963786 |
| Spok Holdings, Inc. | 2335 | 32153 |
| Telephone and Data Systems, Inc. | 16033 | 723569 |
|  |  | 1768525 |
| **Total Common Stocks — 98.1%** <br>**(Cost: $837,333,334)** | **Total Common Stocks — 98.1%** <br>**(Cost: $837,333,334)** | 1130631027 |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Equity Funds**<sup>(d)</sup> **— 1.2%** | **Equity Funds**<sup>(d)</sup> **— 1.2%** |  |
| iShares Russell 2000 ETF<sup>(b)</sup> | 31668 | 8222596 |
| iShares Russell Mid-Cap ETF | 61748 | 6124167 |
|  |  | 14346763 |
| **Total Investment Companies — 1.2%** <br>**(Cost: $13,431,519)** | **Total Investment Companies — 1.2%** <br>**(Cost: $13,431,519)** | 14346763 |
| **Rights** | **Rights** | **Rights** |
| **Biotechnology — 0.0%** | **Biotechnology — 0.0%** |  |
| Akero Therapeutics, Inc.<sup>(c)</sup> | 10629 | 6909 |
| Chinook Therapeutics, CVR<sup>(c)</sup> | 6113 | 1262 |
| GTX, Inc., CVR<sup>(b)(c)</sup> | 23 |  |
| Icosavax, Inc. | 2854 | 885 |
| Inhibrx, Inc., CVR<sup>(c)</sup> | 3315 | 5503 |
|  |  | 14559 |
| **Total Rights — 0.0%** <br>**(Cost: $9,996)** | **Total Rights — 0.0%** <br>**(Cost: $9,996)** | 14559 |
| **Warrants** | **Warrants** | **Warrants** |
| **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** |  |
| Pulse Biosciences, Inc., (Expires 06/27/29) | 127 | 180 |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** | 180 |
| **Total Long-Term Investments — 99.3%** <br>**(Cost: $850,774,849)** | **Total Long-Term Investments — 99.3%** <br>**(Cost: $850,774,849)** | 1144992529 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 8.8%** | **Money Market Funds — 8.8%** |  |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 3.82%<sup>(d)(e)(f)</sup><br>| 95820386 | $95868296 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 3.64%<sup>(d)(e)</sup><br>| 5607040 | 5607040 |
| **Total Short-Term Securities — 8.8%** <br>**(Cost: $101,474,743)** | **Total Short-Term Securities — 8.8%** <br>**(Cost: $101,474,743)** | 101475336 |
| **Total Investments — 108.1%** <br>**(Cost: $952,249,592)** | **Total Investments — 108.1%** <br>**(Cost: $952,249,592)** | 1246467865 |
| **Liabilities in Excess of Other Assets — (8.1)%** | **Liabilities in Excess of Other Assets — (8.1)%** | (93855585)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1152612280 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

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

<sup>(c)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

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

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

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

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the six months ended January 31, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*01/31/26*<br>| *Shares* <br>*Held at* <br>*01/31/26*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $83442502 | $12418593 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $6609 | $592 | $95868296 | 95820386 | $442769 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 4484385 | 1122655 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 5607040 | 5607040 | 109682 | &nbsp;&nbsp; — |
| iShares Russell 2000 ETF | 3866968 | 43997358 | &nbsp;&nbsp; (41096625)<br>| 836054 | 618841 | 8222596 | 31668 | 61819 | &nbsp;&nbsp; — |
| iShares Russell Mid-Cap ETF | 2914475 | 28755930 | &nbsp;&nbsp; (25973706)<br>| 220237 | 207231 | 6124167 | 61748 | 52540 | &nbsp;&nbsp; — |
|  |  |  |  | $1062900 | $826664 | $115822099 |  | $666810 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<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 collateral investment fees, and other payments to and from borrowers of securities. 

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts  |  |  |  |  |
| E-mini Russell 2000 Index | &nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp;&nbsp;&nbsp; $4068 | &nbsp;&nbsp;&nbsp;&nbsp; $40350 |
| S&P Mid 400 E-Mini Index | &nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp;&nbsp;&nbsp; 4137 | &nbsp;&nbsp;&nbsp;&nbsp; 54264 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $94614 |

---

**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* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets — Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts <br>Unrealized appreciation on futures contracts<sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $94614 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $94614 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> 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 period ended January 31, 2026, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from:** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $206936 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $405168 | &nbsp;&nbsp; $612104 |
| **Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $152730 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $152730 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $6526100 |

---

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 at the measurement date. 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  |  |  |  |  |
| Aerospace & Defense | &nbsp;&nbsp; $39575330 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $39575330 |
| Air Freight & Logistics | &nbsp;&nbsp; 5165183 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5165183 |
| Automobile Components | &nbsp;&nbsp; 9341178 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9341178 |
| Automobiles | &nbsp;&nbsp; 3529116 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3529116 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Common Stocks (continued) |  |  |  |  |
| Banks | &nbsp;&nbsp; $71079139 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $71079139 |
| Beverages | &nbsp;&nbsp; 4324062 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4324062 |
| Biotechnology | &nbsp;&nbsp; 66567662 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 66567662 |
| Broadline Retail | &nbsp;&nbsp; 3402699 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3402699 |
| Building Products | &nbsp;&nbsp; 19791002 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19791002 |
| Capital Markets | &nbsp;&nbsp; 33440035 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33440035 |
| Chemicals | &nbsp;&nbsp; 20608021 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20608021 |
| Commercial Services & Supplies | &nbsp;&nbsp; 11363014 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11363014 |
| Communications Equipment | &nbsp;&nbsp; 17031976 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17031976 |
| Construction & Engineering | &nbsp;&nbsp; 32785036 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32785036 |
| Construction Materials | &nbsp;&nbsp; 2450238 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2450238 |
| Consumer Finance | &nbsp;&nbsp; 13644304 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13644304 |
| Consumer Staples Distribution & Retail | &nbsp;&nbsp; 15991703 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15991703 |
| Containers & Packaging | &nbsp;&nbsp; 12602875 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12602875 |
| Distributors | &nbsp;&nbsp; 2998745 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2998745 |
| Diversified Consumer Services | &nbsp;&nbsp; 11658150 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11658150 |
| Diversified REITs | &nbsp;&nbsp; 2427921 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2427921 |
| Diversified Telecommunication Services | &nbsp;&nbsp; 7674031 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7674031 |
| Electric Utilities | &nbsp;&nbsp; 8917191 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8917191 |
| Electrical Equipment | &nbsp;&nbsp; 23509472 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23509472 |
| Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 37679184 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 37679184 |
| Energy Equipment & Services | &nbsp;&nbsp; 15442397 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15442397 |
| Entertainment | &nbsp;&nbsp; 5005692 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5005692 |
| Financial Services | &nbsp;&nbsp; 20156990 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20156990 |
| Food Products | &nbsp;&nbsp; 8891538 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8891538 |
| Gas Utilities | &nbsp;&nbsp; 8046125 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8046125 |
| Ground Transportation | &nbsp;&nbsp; 11340158 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11340158 |
| Health Care Equipment & Supplies | &nbsp;&nbsp; 18715231 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18715231 |
| Health Care Providers & Services | &nbsp;&nbsp; 23724470 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23724470 |
| Health Care REITs | &nbsp;&nbsp; 8053825 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8053825 |
| Health Care Technology | &nbsp;&nbsp; 2182845 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2182845 |
| Hotel & Resort REITs | &nbsp;&nbsp; 5096579 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5096579 |
| Hotels, Restaurants & Leisure | &nbsp;&nbsp; 26041731 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26041731 |
| Household Durables | &nbsp;&nbsp; 18177553 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 18177553 |
| Household Products | &nbsp;&nbsp; 1517610 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1517610 |
| Independent Power and Renewable Electricity Producers | &nbsp;&nbsp; 7012260 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7012260 |
| Industrial Conglomerates | &nbsp;&nbsp; 124596 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 124596 |
| Industrial REITs | &nbsp;&nbsp; 7627378 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7627378 |
| Insurance | &nbsp;&nbsp; 35478125 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35478125 |
| Interactive Media & Services | &nbsp;&nbsp; 4405138 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4405138 |
| IT Services | &nbsp;&nbsp; 8073611 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8073611 |
| Leisure Products | &nbsp;&nbsp; 6349669 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6349669 |
| Life Sciences Tools & Services | &nbsp;&nbsp; 14623395 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14623395 |
| Machinery | &nbsp;&nbsp; 54467922 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 54467922 |
| Marine Transportation | &nbsp;&nbsp; 2233362 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2233362 |
| Media | &nbsp;&nbsp; 11636347 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11636347 |
| Metals & Mining | &nbsp;&nbsp; 23143863 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23143863 |
| Mortgage Real Estate Investment Trusts (REITs) | &nbsp;&nbsp; 10220667 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10220667 |
| Multi-Utilities | &nbsp;&nbsp; 5481795 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5481795 |
| Office REITs | &nbsp;&nbsp; 6482266 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6482266 |
| Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 31386879 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 31386879 |
| Paper & Forest Products | &nbsp;&nbsp; 1189066 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1189066 |
| Passenger Airlines | &nbsp;&nbsp; 4305689 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4305689 |
| Personal Care Products | &nbsp;&nbsp; 2409445 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2409445 |
| Pharmaceuticals | &nbsp;&nbsp; 18768692 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; 18768805 |
| Professional Services | &nbsp;&nbsp; 19914010 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 19914010 |
| Real Estate Management & Development | &nbsp;&nbsp; 8352286 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8352286 |
| Residential REITs | &nbsp;&nbsp; 6892855 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6892855 |
| Retail REITs | &nbsp;&nbsp; 14918138 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14918138 |
| Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 33604512 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33604512 |
| Software | &nbsp;&nbsp; 47671981 | &nbsp;&nbsp;&nbsp;&nbsp; 173591 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 47845572 |
| Specialized REITs | &nbsp;&nbsp; 9322706 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9322706 |
| Specialty Retail | &nbsp;&nbsp; 25384847 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25384847 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Russell Small/Mid-Cap Index Fund** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Common Stocks (continued) |  |  |  |  |
| Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; $18818581 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $18818581 |
| Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 12764067 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12764067 |
| Tobacco | &nbsp;&nbsp; 542577 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 542577 |
| Trading Companies & Distributors | &nbsp;&nbsp; 21965416 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21965416 |
| Transportation Infrastructure | &nbsp;&nbsp; 26149 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 26149 |
| Water Utilities | &nbsp;&nbsp; 3140497 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3140497 |
| Wireless Telecommunication Services | &nbsp;&nbsp; 1768525 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1768525 |
| Investment Companies | &nbsp;&nbsp; 14346763 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14346763 |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 885 | &nbsp;&nbsp;&nbsp;&nbsp; 13674 | &nbsp;&nbsp;&nbsp;&nbsp; 14559 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 180 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 101475336 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 101475336 |
|  | &nbsp;&nbsp; $1246279422 | &nbsp;&nbsp;&nbsp;&nbsp; $174656 | &nbsp;&nbsp;&nbsp;&nbsp; $13787 | &nbsp;&nbsp;&nbsp;&nbsp; $1246467865 |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $94614 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $94614 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments (unaudited)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** |  |
| AAR Corp.<sup>(a)</sup> | 2580 | $273248 |
| AeroVironment, Inc.<sup>(a)</sup> | 2367 | 658949 |
| AerSale Corp.<sup>(a)</sup> | 1574 | 11789 |
| Archer Aviation, Inc., Class A<sup>(a)</sup> | 42177 | 303253 |
| Astronics Corp.<sup>(a)</sup> | 1757 | 133093 |
| ATI, Inc.<sup>(a)</sup> | 8558 | 1029527 |
| Axon Enterprise, Inc.<sup>(a)</sup> | 4739 | 2291686 |
| Boeing Co.<sup>(a)</sup> | 47488 | 11098895 |
| BWX Technologies, Inc. | 5796 | 1190672 |
| Byrna Technologies, Inc.<sup>(a)(b)</sup> | 1282 | 17576 |
| Cadre Holdings, Inc. | 1412 | 56494 |
| Carpenter Technology Corp. | 3026 | 961754 |
| Curtiss-Wright Corp. | 2388 | 1568176 |
| Ducommun, Inc.<sup>(a)</sup> | 926 | 104962 |
| Eve Holding, Inc.<sup>(a)(b)</sup> | 9263 | 36496 |
| Firefly Aerospace, Inc.<sup>(a)</sup> | 2142 | 53978 |
| General Dynamics Corp. | 16054 | 5636399 |
| General Electric Co. | 66082 | 20273297 |
| HEICO Corp.<sup>(b)</sup> | 2627 | 869301 |
| HEICO Corp., Class A | 4764 | 1212867 |
| Hexcel Corp. | 5093 | 421751 |
| Howmet Aerospace, Inc. | 25475 | 5300838 |
| Huntington Ingalls Industries, Inc. | 2477 | 1041603 |
| Intuitive Machines, Inc., Class A<sup>(a)(b)</sup> | 7937 | 150724 |
| Karman Holdings, Inc.<sup>(a)</sup> | 3414 | 354373 |
| Kratos Defense & Security Solutions, Inc.<sup>(a)</sup> | 10484 | 1079957 |
| L3Harris Technologies, Inc. | 11864 | 4067572 |
| Leonardo DRS, Inc. | 4533 | 186125 |
| Loar Holdings, Inc.<sup>(a)(b)</sup> | 2469 | 169324 |
| Lockheed Martin Corp. | 13104 | 8310819 |
| Mercury Systems, Inc.<sup>(a)</sup> | 3148 | 295534 |
| Moog, Inc., Class A | 1819 | 555432 |
| National Presto Industries, Inc. | 368 | 46883 |
| Northrop Grumman Corp. | 8615 | 5963820 |
| Park Aerospace Corp. | 1798 | 44033 |
| Red Cat Holdings, Inc.<sup>(a)(b)</sup> | 5568 | 75168 |
| Redwire Corp.<sup>(a)</sup> | 2462 | 28929 |
| Rocket Lab Corp.<sup>(a)(b)</sup> | 26283 | 2104480 |
| RTX Corp. | 84997 | 17078447 |
| StandardAero, Inc.<sup>(a)</sup> | 9452 | 291972 |
| Textron, Inc. | 11031 | 971390 |
| TransDigm Group, Inc. | 3512 | 5013520 |
| V2X, Inc.<sup>(a)</sup> | 1554 | 106962 |
| Voyager Technologies, Inc., Class A<sup>(a)(b)</sup> | 1486 | 45368 |
| VSE Corp.<sup>(b)</sup> | 1409 | 307965 |
| Woodward, Inc. | 3804 | 1209063 |
|  |  | 103004464 |
| **Air Freight & Logistics — 0.3%** | **Air Freight & Logistics — 0.3%** |  |
| CH Robinson Worldwide, Inc. | 7462 | 1454717 |
| Expeditors International of Washington, Inc. | 8739 | 1402959 |
| FedEx Corp. | 13616 | 4387756 |
| Forward Air Corp.<sup>(a)(b)</sup> | 1607 | 44803 |
| GXO Logistics, Inc.<sup>(a)</sup> | 7459 | 422105 |
| Hub Group, Inc., Class A | 4172 | 198504 |
| Radiant Logistics, Inc.<sup>(a)</sup> | 1065 | 7167 |
| United Parcel Service, Inc., Class B | 46630 | 4953039 |
|  |  | 12871050 |
| **Automobile Components — 0.1%** | **Automobile Components — 0.1%** |  |
| Adient PLC<sup>(a)</sup> | 5612 | 116730 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Automobile Components (continued)** | **Automobile Components (continued)** |  |
| American Axle & Manufacturing Holdings, Inc.<sup>(a)</sup> | 6123 | $48800 |
| Aptiv PLC<sup>(a)</sup> | 13799 | 1045274 |
| BorgWarner, Inc. | 13480 | 639087 |
| Cooper-Standard Holdings, Inc.<sup>(a)</sup> | 698 | 21896 |
| Dana, Inc. | 6960 | 201144 |
| Dorman Products, Inc.<sup>(a)</sup> | 1914 | 237719 |
| Fox Factory Holding Corp.<sup>(a)</sup> | 2625 | 48300 |
| Garrett Motion, Inc. | 9102 | 164200 |
| Gentex Corp. | 14762 | 339674 |
| Gentherm, Inc.<sup>(a)</sup> | 2298 | 73444 |
| Goodyear Tire & Rubber Co.<sup>(a)</sup> | 17489 | 164571 |
| Holley, Inc.<sup>(a)</sup> | 3298 | 12697 |
| LCI Industries | 1621 | 237785 |
| Lear Corp. | 3240 | 379372 |
| Patrick Industries, Inc. | 2094 | 264200 |
| Phinia, Inc. | 2312 | 164545 |
| QuantumScape Corp., Class A<sup>(a)</sup> | 28744 | 254384 |
| Solid Power, Inc., Class A<sup>(a)(b)</sup> | 8899 | 39868 |
| Standard Motor Products, Inc. | 1696 | 67721 |
| Visteon Corp. | 1648 | 149737 |
| XPEL, Inc.<sup>(a)</sup> | 1523 | 78450 |
|  |  | 4749598 |
| **Automobiles — 2.0%** | **Automobiles — 2.0%** |  |
| Ford Motor Co. | 248009 | 3442365 |
| General Motors Co. | 59266 | 4978344 |
| Harley-Davidson, Inc. | 7932 | 157054 |
| Lucid Group, Inc.<sup>(a)(b)</sup> | 7689 | 85117 |
| Rivian Automotive, Inc., Class A<sup>(a)</sup> | 49955 | 736836 |
| Tesla, Inc.<sup>(a)</sup> | 179259 | 77154866 |
| Thor Industries, Inc. | 3278 | 366710 |
| Winnebago Industries, Inc. | 2035 | 93427 |
|  |  | 87014719 |
| **Banks — 3.8%** | **Banks — 3.8%** |  |
| 1st Source Corp. | 997 | 67128 |
| ACNB Corp. | 658 | 33242 |
| Amalgamated Financial Corp. | 1444 | 56085 |
| Amerant Bancorp, Inc. | 2297 | 49845 |
| Ameris Bancorp | 4339 | 349810 |
| Arrow Financial Corp. | 1851 | 62582 |
| Associated Banc-Corp. | 9992 | 272382 |
| Atlantic Union Bankshares Corp. | 9021 | 350376 |
| Axos Financial, Inc.<sup>(a)</sup> | 3469 | 343396 |
| Banc of California, Inc. | 8476 | 169350 |
| BancFirst Corp. | 1313 | 144364 |
| Bancorp, Inc.<sup>(a)</sup> | 2594 | 154187 |
| Bank First Corp. | 578 | 80654 |
| Bank of America Corp. | 422453 | 22474500 |
| Bank of Hawaii Corp. | 2181 | 163095 |
| Bank of Marin Bancorp | 1301 | 34932 |
| Bank of NT Butterfield & Son Ltd. | 2623 | 135871 |
| Bank OZK | 6920 | 329115 |
| BankUnited, Inc. | 5109 | 242524 |
| Banner Corp. | 2344 | 144953 |
| Bar Harbor Bankshares | 1349 | 45745 |
| BayCom Corp. | 1314 | 38343 |
| BCB Bancorp, Inc. | 1342 | 10588 |
| Beacon Financial Corp. | 5576 | 158080 |
| Blue Foundry Bancorp<sup>(a)</sup> | 1829 | 24051 |
| BOK Financial Corp. | 1405 | 182566 |
| Bridgewater Bancshares, Inc.<sup>(a)</sup> | 1355 | 26030 |
| Burke & Herbert Financial Services Corp. | 750 | 49110 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** |  |
| Business First Bancshares, Inc. | 2631 | $74115 |
| Byline Bancorp, Inc. | 1662 | 53068 |
| Cadence Bank | 6933 | 291949 |
| Camden National Corp. | 1025 | 48759 |
| Capital Bancorp, Inc. | 643 | 19753 |
| Capital City Bank Group, Inc. | 1111 | 46395 |
| Capitol Federal Financial, Inc. | 5759 | 41926 |
| Carter Bankshares, Inc.<sup>(a)</sup> | 1163 | 24900 |
| Cathay General Bancorp | 4573 | 234046 |
| Central Pacific Financial Corp. | 427 | 13907 |
| ChoiceOne Financial Services, Inc. | 1113 | 31932 |
| Citigroup, Inc. | 112748 | 13046071 |
| Citizens & Northern Corp. | 1802 | 41014 |
| Citizens Financial Group, Inc. | 27268 | 1717339 |
| Citizens Financial Services, Inc. | 365 | 23086 |
| City Holding Co. | 990 | 121859 |
| Civista Bancshares, Inc. | 808 | 19497 |
| CNB Financial Corp. | 1531 | 42409 |
| Coastal Financial Corp.<sup>(a)</sup> | 714 | 68387 |
| Colony Bankcorp, Inc. | 1564 | 30435 |
| Columbia Banking System, Inc. | 19765 | 581882 |
| Columbia Financial, Inc.<sup>(a)</sup> | 2444 | 39764 |
| Comerica, Inc. | 8290 | 735074 |
| Commerce Bancshares, Inc. | 8221 | 432753 |
| Community Financial System, Inc. | 3600 | 225000 |
| Community Trust Bancorp, Inc. | 982 | 60589 |
| Community West Bancshares | 1053 | 25240 |
| ConnectOne Bancorp, Inc. | 2984 | 79434 |
| Cullen/Frost Bankers, Inc. | 3777 | 520546 |
| Customers Bancorp, Inc.<sup>(a)</sup> | 1668 | 131805 |
| CVB Financial Corp. | 8995 | 177291 |
| Dime Community Bancshares, Inc. | 1767 | 60113 |
| Eagle Bancorp, Inc. | 1044 | 27937 |
| East West Bancorp, Inc. | 8683 | 993683 |
| Eastern Bankshares, Inc. | 14366 | 294288 |
| Enterprise Financial Services Corp. | 2436 | 139705 |
| Equity Bancshares, Inc., Class A | 1265 | 58342 |
| Esquire Financial Holdings, Inc.<sup>(b)</sup> | 654 | 69736 |
| Farmers & Merchants Bancorp, Inc./Archbold | 828 | 22215 |
| Farmers National Banc Corp. | 1865 | 24208 |
| FB Financial Corp. | 2244 | 129097 |
| Fifth Third Bancorp | 42303 | 2124457 |
| Financial Institutions, Inc. | 1577 | 51946 |
| First Bancorp, Inc. | 314 | 8588 |
| First BanCorp./Puerto Rico | 4434 | 98080 |
| First Bancorp/Southern Pines NC | 1949 | 112906 |
| First Bank | 1767 | 29474 |
| First Busey Corp. | 6005 | 148023 |
| First Business Financial Services, Inc. | 758 | 43449 |
| First Citizens BancShares, Inc., Class A | 575 | 1190003 |
| First Commonwealth Financial Corp. | 6445 | 116203 |
| First Community Bankshares, Inc. | 972 | 35011 |
| First Financial Bancorp | 6548 | 188190 |
| First Financial Bankshares, Inc. | 8460 | 269197 |
| First Financial Corp. | 1022 | 66594 |
| First Foundation, Inc.<sup>(a)</sup> | 8534 | 53594 |
| First Hawaiian, Inc. | 7638 | 202789 |
| First Horizon Corp. | 31938 | 782162 |
| First Interstate BancSystem, Inc., Class A | 6284 | 222893 |
| First Merchants Corp. | 3624 | 144090 |
| First Mid Bancshares, Inc. | 1619 | 68160 |
| Firstsun Capital Bancorp<sup>(a)</sup> | 1127 | 44494 |
| Five Star Bancorp | 948 | 37560 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** |  |
| Flagstar Bank NA | 18299 | $241913 |
| Flushing Financial Corp. | 2055 | 32448 |
| FNB Corp. | 22550 | 395752 |
| Fulton Financial Corp. | 11311 | 233572 |
| German American Bancorp, Inc. | 1773 | 74590 |
| Glacier Bancorp, Inc. | 7810 | 395811 |
| Great Southern Bancorp, Inc. | 559 | 34311 |
| Greene County Bancorp, Inc. | 778 | 18236 |
| Hancock Whitney Corp. | 5193 | 357278 |
| Hanmi Financial Corp. | 907 | 24099 |
| HBT Financial, Inc. | 1273 | 34346 |
| Heritage Commerce Corp. | 3436 | 43740 |
| Heritage Financial Corp. | 1053 | 27178 |
| Hilltop Holdings, Inc. | 2354 | 88157 |
| Hingham Institution For Savings<sup>(b)</sup> | 79 | 23578 |
| Home Bancorp, Inc. | 190 | 11341 |
| Home BancShares, Inc. | 11845 | 342320 |
| HomeTrust Bancshares, Inc. | 642 | 27683 |
| Hope Bancorp, Inc. | 7383 | 88448 |
| Horizon Bancorp, Inc. | 2632 | 46376 |
| Huntington Bancshares, Inc. | 98372 | 1719543 |
| Independent Bank Corp. | 3974 | 279725 |
| International Bancshares Corp. | 3429 | 238796 |
| John Marshall Bancorp, Inc. | 759 | 15666 |
| JPMorgan Chase & Co. | 172586 | 52792332 |
| Kearny Financial Corp. | 5495 | 42806 |
| KeyCorp | 60073 | 1292771 |
| Lakeland Financial Corp. | 1478 | 88089 |
| Live Oak Bancshares, Inc. | 2391 | 95544 |
| M&T Bank Corp. | 9765 | 2163631 |
| Mechanics Bancorp, Class A | 4013 | 60155 |
| Mercantile Bank Corp. | 998 | 51876 |
| Metrocity Bankshares, Inc. | 1908 | 53748 |
| Metropolitan Bank Holding Corp. | 533 | 49356 |
| Mid Penn Bancorp, Inc. | 806 | 26590 |
| Midland States Bancorp, Inc. | 963 | 22005 |
| MidWestOne Financial Group, Inc. | 1021 | 47293 |
| MVB Financial Corp. | 865 | 24428 |
| National Bank Holdings Corp., Class A | 2275 | 91409 |
| NB Bancorp, Inc. | 1905 | 41377 |
| NBT Bancorp, Inc. | 3198 | 142087 |
| Nicolet Bankshares, Inc. | 940 | 137221 |
| Northeast Bank | 629 | 72480 |
| Northfield Bancorp, Inc. | 2756 | 33954 |
| Northrim BanCorp, Inc. | 2288 | 53905 |
| Northwest Bancshares, Inc. | 8857 | 114078 |
| NU Holdings Ltd., Class A<sup>(a)</sup> | 212506 | 3771981 |
| OceanFirst Financial Corp. | 4668 | 87525 |
| OFG Bancorp | 2791 | 112477 |
| Old National Bancorp | 22582 | 551678 |
| Old Second Bancorp, Inc. | 2744 | 54441 |
| Orange County Bancorp, Inc. | 1391 | 42871 |
| Origin Bancorp, Inc. | 1892 | 81034 |
| Orrstown Financial Services, Inc. | 1174 | 42287 |
| Park National Corp. | 1046 | 170435 |
| Pathward Financial, Inc. | 1236 | 111598 |
| PCB Bancorp | 1231 | 27624 |
| Peapack-Gladstone Financial Corp. | 1216 | 38572 |
| Peoples Bancorp, Inc. | 2207 | 71772 |
| Peoples Financial Services Corp. | 546 | 28447 |
| Pinnacle Financial Partners, Inc. | 9463 | 899837 |
| PNC Financial Services Group, Inc. | 25103 | 5605500 |
| Popular, Inc. | 4170 | 556820 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** |  |
| Preferred Bank | 305 | $26160 |
| Primis Financial Corp. | 1942 | 26178 |
| Prosperity Bancshares, Inc. | 5985 | 413025 |
| Provident Financial Services, Inc. | 7831 | 173378 |
| QCR Holdings, Inc. | 904 | 81595 |
| RBB Bancorp | 350 | 7259 |
| Red River Bancshares, Inc. | 282 | 23423 |
| Regions Financial Corp. | 56183 | 1601215 |
| Renasant Corp. | 5929 | 223583 |
| Republic Bancorp, Inc., Class A | 538 | 39064 |
| S&T Bancorp, Inc. | 2286 | 97475 |
| Seacoast Banking Corp. of Florida | 5847 | 195524 |
| ServisFirst Bancshares, Inc. | 3545 | 290158 |
| Shore Bancshares, Inc. | 2166 | 41089 |
| Sierra Bancorp | 1347 | 47697 |
| Simmons First National Corp., Class A | 9597 | 195107 |
| SmartFinancial, Inc. | 1272 | 50778 |
| South Plains Financial, Inc. | 1099 | 45784 |
| Southern First Bancshares, Inc.<sup>(a)</sup> | 161 | 8845 |
| Southern Missouri Bancorp, Inc. | 347 | 21712 |
| Southside Bancshares, Inc. | 1208 | 38886 |
| Southstate Bank Corp. | 6371 | 651944 |
| Stellar Bancorp, Inc. | 2975 | 110491 |
| Stock Yards Bancorp, Inc. | 1716 | 116156 |
| Texas Capital Bancshares, Inc.<sup>(a)</sup> | 2861 | 289447 |
| TFS Financial Corp. | 4986 | 70178 |
| Third Coast Bancshares, Inc.<sup>(a)</sup> | 1211 | 49118 |
| Tompkins Financial Corp. | 1151 | 92218 |
| Towne Bank | 4616 | 161560 |
| TriCo Bancshares | 1964 | 97846 |
| Triumph Financial, Inc.<sup>(a)</sup> | 1335 | 84225 |
| Truist Financial Corp. | 81954 | 4214075 |
| TrustCo Bank Corp. | 719 | 31205 |
| Trustmark Corp. | 3530 | 150096 |
| U.S. Bancorp | 99224 | 5567459 |
| UMB Financial Corp. | 4570 | 581030 |
| United Bankshares, Inc. | 8569 | 362726 |
| United Community Banks, Inc. | 3642 | 125394 |
| Univest Financial Corp. | 1834 | 60779 |
| USCB Financial Holdings, Inc., Class A | 1758 | 33138 |
| Valley National Bancorp | 30499 | 380018 |
| WaFd, Inc. | 5659 | 184597 |
| Washington Trust Bancorp, Inc. | 1069 | 36742 |
| Webster Financial Corp. | 10409 | 684600 |
| Wells Fargo & Co. | 199709 | 18071667 |
| WesBanco, Inc. | 5904 | 208352 |
| West BanCorp, Inc. | 1337 | 31727 |
| Westamerica BanCorp | 1572 | 79512 |
| Western Alliance Bancorp | 6853 | 610945 |
| Wintrust Financial Corp. | 4193 | 618426 |
| WSFS Financial Corp. | 3434 | 222283 |
| Zions Bancorp N.A. | 9529 | 570882 |
|  |  | 165794028 |
| **Beverages — 1.0%** | **Beverages — 1.0%** |  |
| Boston Beer Co., Inc., Class A<sup>(a)</sup> | 590 | 126036 |
| Brown-Forman Corp., Class A | 2982 | 82989 |
| Brown-Forman Corp., Class B | 8767 | 239953 |
| Celsius Holdings, Inc.<sup>(a)</sup> | 10406 | 546107 |
| Coca-Cola Co. | 247063 | 18482783 |
| Coca-Cola Consolidated, Inc. | 3717 | 565207 |
| Constellation Brands, Inc., Class A | 9026 | 1414374 |
| Keurig Dr. Pepper, Inc. | 82273 | 2257571 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Beverages (continued)** | **Beverages (continued)** |  |
| MGP Ingredients, Inc. | 1116 | $27799 |
| Molson Coors Beverage Co., Class B | 10801 | 518880 |
| Monster Beverage Corp.<sup>(a)</sup> | 44317 | 3579041 |
| National Beverage Corp.<sup>(a)</sup> | 1540 | 52483 |
| PepsiCo, Inc. | 87057 | 13374567 |
| Primo Brands Corp. | 17369 | 328969 |
| Vita Coco Co., Inc.<sup>(a)</sup> | 3365 | 179523 |
|  |  | 41776282 |
| **Biotechnology — 2.2%** | **Biotechnology — 2.2%** |  |
| 4D Molecular Therapeutics, Inc.<sup>(a)</sup> | 3771 | 33411 |
| AbbVie, Inc. | 112549 | 25099552 |
| Absci Corp.<sup>(a)(b)</sup> | 12031 | 35973 |
| ACADIA Pharmaceuticals, Inc.<sup>(a)</sup> | 7957 | 199959 |
| ADC Therapeutics SA<sup>(a)</sup> | 2644 | 9545 |
| ADMA Biologics, Inc.<sup>(a)</sup> | 15650 | 270745 |
| Agios Pharmaceuticals, Inc.<sup>(a)</sup> | 3560 | 97686 |
| Akebia Therapeutics, Inc.<sup>(a)</sup> | 20965 | 29561 |
| Aldeyra Therapeutics, Inc.<sup>(a)(b)</sup> | 3447 | 18476 |
| Alector, Inc.<sup>(a)(b)</sup> | 2986 | 5644 |
| Alkermes PLC<sup>(a)</sup> | 10139 | 343611 |
| Allogene Therapeutics, Inc.<sup>(a)</sup> | 5719 | 10523 |
| Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> | 8053 | 2722397 |
| Altimmune, Inc.<sup>(a)(b)</sup> | 4063 | 22753 |
| Amgen, Inc. | 34171 | 11682381 |
| Amicus Therapeutics, Inc.<sup>(a)</sup> | 18722 | 267537 |
| AnaptysBio, Inc.<sup>(a)</sup> | 865 | 41010 |
| Anavex Life Sciences Corp.<sup>(a)(b)</sup> | 5000 | 23500 |
| Anika Therapeutics, Inc.<sup>(a)</sup> | 1304 | 12036 |
| Annexon, Inc.<sup>(a)</sup> | 6182 | 38576 |
| Apellis Pharmaceuticals, Inc.<sup>(a)</sup> | 6746 | 152325 |
| Apogee Therapeutics, Inc.<sup>(a)</sup> | 2661 | 174322 |
| Arbutus Biopharma Corp.<sup>(a)(b)</sup> | 7498 | 30967 |
| Arcellx, Inc.<sup>(a)(b)</sup> | 2153 | 147071 |
| Arcturus Therapeutics Holdings, Inc.<sup>(a)(b)</sup> | 1205 | 9001 |
| Arcus Biosciences, Inc.<sup>(a)</sup> | 5664 | 119171 |
| Arcutis Biotherapeutics, Inc.<sup>(a)(b)</sup> | 7737 | 196288 |
| Ardelyx, Inc.<sup>(a)</sup> | 12429 | 95579 |
| ArriVent Biopharma, Inc.<sup>(a)(b)</sup> | 2616 | 58834 |
| Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup> | 8112 | 562405 |
| ARS Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 4460 | 44555 |
| aTyr Pharma, Inc.<sup>(a)</sup> | 7487 | 6610 |
| Aura Biosciences, Inc.<sup>(a)</sup> | 383 | 2145 |
| Aurinia Pharmaceuticals, Inc.<sup>(a)</sup> | 8475 | 123142 |
| Avidity Biosciences, Inc.<sup>(a)</sup> | 7085 | 514158 |
| Avita Medical, Inc.<sup>(a)(b)</sup> | 1749 | 7713 |
| Beam Therapeutics, Inc.<sup>(a)(b)</sup> | 5581 | 154147 |
| Bicara Therapeutics, Inc.<sup>(a)(b)</sup> | 1259 | 21151 |
| BioCryst Pharmaceuticals, Inc.<sup>(a)</sup> | 17535 | 115380 |
| Biogen, Inc.<sup>(a)</sup> | 9280 | 1669379 |
| Biohaven Ltd.<sup>(a)</sup> | 6094 | 72092 |
| BioMarin Pharmaceutical, Inc.<sup>(a)</sup> | 11927 | 674353 |
| Bridgebio Pharma, Inc.<sup>(a)(b)</sup> | 9974 | 770691 |
| Bright Minds Biosciences, Inc.<sup>(a)(b)</sup> | 462 | 35921 |
| Capricor Therapeutics, Inc.<sup>(a)</sup> | 2768 | 60592 |
| Cardiff Oncology, Inc.<sup>(a)(b)</sup> | 10745 | 18804 |
| CareDx, Inc.<sup>(a)</sup> | 4277 | 87892 |
| Caris Life Sciences, Inc.<sup>(a)</sup> | 1348 | 31220 |
| Catalyst Pharmaceuticals, Inc.<sup>(a)</sup> | 7096 | 172433 |
| Celcuity, Inc.<sup>(a)(b)</sup> | 2005 | 219387 |
| Celldex Therapeutics, Inc.<sup>(a)</sup> | 4265 | 104919 |
| CG oncology, Inc.<sup>(a)(b)</sup> | 3464 | 180301 |
| Cogent Biosciences, Inc.<sup>(a)</sup> | 9209 | 330695 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Coherus Oncology, Inc.<sup>(a)(b)</sup> | 6286 | $13578 |
| Compass Therapeutics, Inc.<sup>(a)(b)</sup> | 8157 | 52205 |
| Corvus Pharmaceuticals, Inc.<sup>(a)</sup> | 3598 | 74479 |
| CRISPR Therapeutics AG<sup>(a)(b)</sup> | 5693 | 284422 |
| Cullinan Therapeutics, Inc.<sup>(a)</sup> | 4093 | 48952 |
| Cytokinetics, Inc.<sup>(a)</sup> | 7503 | 474115 |
| Day One Biopharmaceuticals, Inc.<sup>(a)</sup> | 3982 | 44439 |
| Denali Therapeutics, Inc.<sup>(a)(b)</sup> | 8773 | 190725 |
| Design Therapeutics, Inc.<sup>(a)</sup> | 2613 | 26679 |
| Dianthus Therapeutics, Inc.<sup>(a)</sup> | 1702 | 90870 |
| Disc Medicine, Inc.<sup>(a)</sup> | 1841 | 142346 |
| Dynavax Technologies Corp.<sup>(a)</sup> | 8014 | 124097 |
| Dyne Therapeutics, Inc.<sup>(a)(b)</sup> | 8944 | 160008 |
| Editas Medicine, Inc.<sup>(a)(b)</sup> | 6257 | 12451 |
| Emergent BioSolutions, Inc.<sup>(a)</sup> | 2372 | 26898 |
| Enanta Pharmaceuticals, Inc.<sup>(a)</sup> | 1355 | 17480 |
| Entrada Therapeutics, Inc.<sup>(a)</sup> | 1826 | 20889 |
| Erasca, Inc.<sup>(a)</sup> | 10908 | 114643 |
| Exact Sciences Corp.<sup>(a)</sup> | 11833 | 1210989 |
| Exelixis, Inc.<sup>(a)</sup> | 16740 | 692366 |
| Fate Therapeutics, Inc.<sup>(a)</sup> | 5497 | 6541 |
| Foghorn Therapeutics, Inc.<sup>(a)</sup> | 1251 | 7143 |
| Geron Corp.<sup>(a)(b)</sup> | 43271 | 59281 |
| Gilead Sciences, Inc. | 79120 | 11231084 |
| Gossamer Bio, Inc.<sup>(a)(b)</sup> | 13303 | 30331 |
| GRAIL, Inc.<sup>(a)(b)</sup> | 2342 | 229094 |
| Halozyme Therapeutics, Inc.<sup>(a)</sup> | 7370 | 528503 |
| Heron Therapeutics, Inc.<sup>(a)(b)</sup> | 5088 | 6716 |
| Humacyte, Inc.<sup>(a)(b)</sup> | 4049 | 4040 |
| Ideaya Biosciences, Inc.<sup>(a)(b)</sup> | 5296 | 170478 |
| ImmunityBio, Inc.<sup>(a)(b)</sup> | 7947 | 49669 |
| Immunome, Inc.<sup>(a)(b)</sup> | 4279 | 105349 |
| Immunovant, Inc.<sup>(a)</sup> | 5346 | 138996 |
| Incyte Corp.<sup>(a)</sup> | 10193 | 1020014 |
| Inhibrx Biosciences, Inc.<sup>(a)</sup> | 560 | 42711 |
| Insmed, Inc.<sup>(a)</sup> | 13303 | 2086842 |
| Intellia Therapeutics, Inc.<sup>(a)(b)</sup> | 5528 | 72693 |
| Ionis Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 10046 | 830503 |
| Iovance Biotherapeutics, Inc.<sup>(a)(b)</sup> | 18001 | 45903 |
| Ironwood Pharmaceuticals, Inc., Class A<sup>(a)</sup> | 8803 | 43047 |
| Jade Biosciences, Inc. | 2845 | 44410 |
| Janux Therapeutics, Inc.<sup>(a)(b)</sup> | 2065 | 28311 |
| KalVista Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 2567 | 40071 |
| Keros Therapeutics, Inc.<sup>(a)</sup> | 1802 | 32274 |
| Kodiak Sciences, Inc.<sup>(a)(b)</sup> | 1928 | 43901 |
| Krystal Biotech, Inc.<sup>(a)</sup> | 1586 | 442875 |
| Kura Oncology, Inc.<sup>(a)</sup> | 4970 | 40356 |
| Kymera Therapeutics, Inc.<sup>(a)</sup> | 3501 | 254488 |
| Larimar Therapeutics, Inc.<sup>(a)(b)</sup> | 4731 | 16748 |
| Lexeo Therapeutics, Inc.<sup>(a)</sup> | 4465 | 33086 |
| Madrigal Pharmaceuticals, Inc.<sup>(a)</sup> | 1144 | 559771 |
| MannKind Corp.<sup>(a)(b)</sup> | 23145 | 133778 |
| MeiraGTx Holdings PLC<sup>(a)</sup> | 2029 | 15441 |
| MiMedx Group, Inc.<sup>(a)</sup> | 9149 | 46751 |
| Mineralys Therapeutics, Inc.<sup>(a)(b)</sup> | 2581 | 79727 |
| Mirum Pharmaceuticals, Inc.<sup>(a)</sup> | 2550 | 263211 |
| Moderna, Inc.<sup>(a)(b)</sup> | 22764 | 1003209 |
| Monte Rosa Therapeutics, Inc.<sup>(a)</sup> | 3326 | 68250 |
| Myriad Genetics, Inc.<sup>(a)</sup> | 6730 | 37823 |
| Natera, Inc.<sup>(a)</sup> | 8248 | 1906443 |
| Neurocrine Biosciences, Inc.<sup>(a)</sup> | 6152 | 837041 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Neurogene, Inc.<sup>(a)</sup> | 1070 | $18896 |
| Nkarta, Inc.<sup>(a)(b)</sup> | 2544 | 5648 |
| Novavax, Inc.<sup>(a)(b)</sup> | 8300 | 73413 |
| Nurix Therapeutics, Inc.<sup>(a)(b)</sup> | 6977 | 115260 |
| Nuvalent, Inc., Class A<sup>(a)</sup> | 3089 | 317827 |
| Olema Pharmaceuticals, Inc.<sup>(a)</sup> | 3954 | 101697 |
| Organogenesis Holdings, Inc.<sup>(a)</sup> | 6610 | 26440 |
| ORIC Pharmaceuticals, Inc.<sup>(a)</sup> | 3677 | 37726 |
| Oruka Therapeutics, Inc.<sup>(a)</sup> | 2807 | 96084 |
| Palvella Therapeutics, Inc.<sup>(a)</sup> | 490 | 37578 |
| Perspective Therapeutics, Inc.<sup>(a)(b)</sup> | 3920 | 14857 |
| Praxis Precision Medicines, Inc.<sup>(a)</sup> | 1543 | 484502 |
| Precigen, Inc.<sup>(a)(b)</sup> | 5740 | 25773 |
| Prime Medicine, Inc.<sup>(a)(b)</sup> | 2694 | 10264 |
| Protagonist Therapeutics, Inc.<sup>(a)</sup> | 3529 | 288672 |
| Prothena Corp. PLC<sup>(a)(b)</sup> | 2491 | 21946 |
| PTC Therapeutics, Inc.<sup>(a)</sup> | 4884 | 368889 |
| Recursion Pharmaceuticals, Inc., Class A<sup>(a)(b)</sup> | 23733 | 99441 |
| Regeneron Pharmaceuticals, Inc. | 6447 | 4780128 |
| REGENXBIO, Inc.<sup>(a)(b)</sup> | 3603 | 40209 |
| Relay Therapeutics, Inc.<sup>(a)(b)</sup> | 10571 | 80974 |
| Replimune Group, Inc.<sup>(a)</sup> | 3154 | 22173 |
| Revolution Medicines, Inc.<sup>(a)</sup> | 10990 | 1065480 |
| Rezolute, Inc.<sup>(a)</sup> | 5514 | 18417 |
| Rhythm Pharmaceuticals, Inc.<sup>(a)</sup> | 3416 | 350208 |
| Rigel Pharmaceuticals, Inc.<sup>(a)</sup> | 1105 | 38520 |
| Rocket Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 4600 | 16008 |
| Roivant Sciences Ltd.<sup>(a)</sup> | 24499 | 529668 |
| Sana Biotechnology, Inc.<sup>(a)(b)</sup> | 11242 | 49802 |
| Sarepta Therapeutics, Inc.<sup>(a)(b)</sup> | 6626 | 134773 |
| Savara, Inc.<sup>(a)</sup> | 7236 | 39074 |
| Scholar Rock Holding Corp.<sup>(a)(b)</sup> | 5414 | 240057 |
| Sionna Therapeutics, Inc.<sup>(a)</sup> | 1048 | 44288 |
| Soleno Therapeutics, Inc.<sup>(a)(b)</sup> | 2750 | 106040 |
| Solid Biosciences, Inc.<sup>(a)(b)</sup> | 2054 | 13269 |
| Spyre Therapeutics, Inc.<sup>(a)(b)</sup> | 4592 | 146852 |
| Stoke Therapeutics, Inc.<sup>(a)(b)</sup> | 3419 | 103732 |
| Summit Therapeutics, Inc.<sup>(a)(b)</sup> | 8075 | 116926 |
| Syndax Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 4959 | 100717 |
| Tango Therapeutics, Inc.<sup>(a)(b)</sup> | 7222 | 83847 |
| Taysha Gene Therapies, Inc.<sup>(a)</sup> | 14523 | 65499 |
| TG Therapeutics, Inc.<sup>(a)</sup> | 9652 | 284058 |
| Travere Therapeutics, Inc.<sup>(a)(b)</sup> | 5719 | 177804 |
| Twist Bioscience Corp.<sup>(a)(b)</sup> | 3793 | 155779 |
| Tyra Biosciences, Inc.<sup>(a)</sup> | 1832 | 56462 |
| Ultragenyx Pharmaceutical, Inc.<sup>(a)</sup> | 6233 | 150028 |
| United Therapeutics Corp.<sup>(a)</sup> | 2694 | 1264806 |
| Upstream Bio, Inc.<sup>(a)(b)</sup> | 1800 | 55944 |
| UroGen Pharma Ltd.<sup>(a)</sup> | 1616 | 31690 |
| Vanda Pharmaceuticals, Inc.<sup>(a)</sup> | 2945 | 22205 |
| Vaxcyte, Inc.<sup>(a)</sup> | 7388 | 395775 |
| Vera Therapeutics, Inc., Class A<sup>(a)</sup> | 3229 | 139687 |
| Veracyte, Inc.<sup>(a)</sup> | 5067 | 192951 |
| Verastem, Inc.<sup>(a)</sup> | 5492 | 33501 |
| Vericel Corp.<sup>(a)</sup> | 3406 | 122548 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | 16338 | 7677226 |
| Viking Therapeutics, Inc.<sup>(a)(b)</sup> | 7100 | 206184 |
| Vir Biotechnology, Inc.<sup>(a)</sup> | 5579 | 41508 |
| Viridian Therapeutics, Inc.<sup>(a)</sup> | 4821 | 159093 |
| Voyager Therapeutics, Inc.<sup>(a)(b)</sup> | 2518 | 9820 |
| Xencor, Inc.<sup>(a)</sup> | 3868 | 46764 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Xenon Pharmaceuticals, Inc.<sup>(a)</sup> | 4505 | $184750 |
| Zenas Biopharma, Inc.<sup>(a)</sup> | 1247 | 22907 |
| Zymeworks, Inc.<sup>(a)(b)</sup> | 3388 | 76332 |
|  |  | 96227449 |
| **Broadline Retail — 3.5%** | **Broadline Retail — 3.5%** |  |
| Amazon.com, Inc.<sup>(a)</sup> | 609428 | 145836121 |
| Coupang, Inc., Class A<sup>(a)</sup> | 83114 | 1675578 |
| Dillard's, Inc., Class A<sup>(b)</sup> | 175 | 106323 |
| eBay, Inc. | 28699 | 2617923 |
| Etsy, Inc.<sup>(a)</sup> | 6053 | 320567 |
| Groupon, Inc.<sup>(a)(b)</sup> | 2275 | 32191 |
| Kohl's Corp. | 6902 | 120578 |
| Macy's, Inc. | 17106 | 342462 |
| Ollie's Bargain Outlet Holdings, Inc.<sup>(a)(b)</sup> | 3765 | 415317 |
| Savers Value Village, Inc.<sup>(a)</sup> | 1377 | 14266 |
|  |  | 151481326 |
| **Building Products — 0.6%** | **Building Products — 0.6%** |  |
| A.O. Smith Corp. | 7240 | 532068 |
| AAON, Inc. | 4095 | 372891 |
| Advanced Drainage Systems, Inc. | 4442 | 675362 |
| Allegion PLC | 5591 | 924695 |
| American Woodmark Corp.<sup>(a)</sup> | 1233 | 73228 |
| Apogee Enterprises, Inc. | 1427 | 52984 |
| Armstrong World Industries, Inc. | 2731 | 501794 |
| AZZ, Inc. | 1867 | 232049 |
| Builders FirstSource, Inc.<sup>(a)</sup> | 7014 | 802402 |
| Carlisle Cos., Inc. | 2631 | 896882 |
| Carrier Global Corp. | 49879 | 2971791 |
| CSW Industrials, Inc. | 973 | 262691 |
| Fortune Brands Innovations, Inc. | 7637 | 413162 |
| Gibraltar Industries, Inc.<sup>(a)</sup> | 1865 | 95600 |
| Griffon Corp. | 2530 | 206068 |
| Hayward Holdings, Inc.<sup>(a)</sup> | 11880 | 191743 |
| Insteel Industries, Inc. | 1232 | 40828 |
| Janus International Group, Inc.<sup>(a)</sup> | 10578 | 72565 |
| JELD-WEN Holding, Inc.<sup>(a)</sup> | 6029 | 16399 |
| Johnson Controls International PLC | 41941 | 5001884 |
| Lennox International, Inc. | 2070 | 1024816 |
| Masco Corp. | 12907 | 853024 |
| Masterbrand, Inc.<sup>(a)(b)</sup> | 8295 | 100535 |
| Modine Manufacturing Co.<sup>(a)</sup> | 3201 | 591097 |
| Owens Corning | 5416 | 649053 |
| Quanex Building Products Corp. | 2024 | 37889 |
| Resideo Technologies, Inc.<sup>(a)</sup> | 8239 | 282268 |
| Simpson Manufacturing Co., Inc. | 2694 | 476245 |
| Tecnoglass, Inc. | 1729 | 84565 |
| Trane Technologies PLC | 14163 | 5956675 |
| Trex Co., Inc.<sup>(a)</sup> | 6526 | 270307 |
| UFP Industries, Inc. | 3867 | 399384 |
| Zurn Elkay Water Solutions Corp. | 9531 | 439474 |
|  |  | 25502418 |
| **Capital Markets — 3.4%** | **Capital Markets — 3.4%** |  |
| Acadian Asset Management, Inc. | 1883 | 104356 |
| Affiliated Managers Group, Inc. | 1696 | 531001 |
| AlTi Global, Inc., Class A<sup>(a)(b)</sup> | 6212 | 29134 |
| Ameriprise Financial, Inc. | 5905 | 3113057 |
| Ares Management Corp., Class A | 11954 | 1789155 |
| Artisan Partners Asset Management, Inc., Class A | 3613 | 160851 |
| Bank of New York Mellon Corp. | 44327 | 5315694 |
| BGC Group, Inc., Class A | 22373 | 203818 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** |  |
| Blackrock, Inc.<sup>(c)</sup> | 9693 | $10845885 |
| Blackstone, Inc., Class A | 47122 | 6711115 |
| Blue Owl Capital, Inc., Class A | 41353 | 564055 |
| Brookfield Asset Management Ltd., Class A | 24292 | 1207555 |
| Bullish<sup>(a)</sup> | 2221 | 67074 |
| Carlyle Group, Inc. | 16614 | 976571 |
| Cboe Global Markets, Inc. | 6655 | 1763974 |
| Charles Schwab Corp. | 108423 | 11267318 |
| CME Group, Inc., Class A | 22847 | 6604154 |
| Cohen & Steers, Inc. | 1830 | 117596 |
| Coinbase Global, Inc., Class A<sup>(a)</sup> | 14157 | 2756934 |
| Diamond Hill Investment Group, Inc., Class A | 101 | 17306 |
| DigitalBridge Group, Inc., Class A | 11708 | 180186 |
| Donnelley Financial Solutions, Inc.<sup>(a)</sup> | 1458 | 75451 |
| Evercore, Inc., Class A | 2342 | 827358 |
| FactSet Research Systems, Inc. | 2379 | 605122 |
| Forge Global Holdings, Inc.<sup>(a)</sup> | 709 | 31692 |
| Franklin Resources, Inc. | 19295 | 513633 |
| Freedom Holding Corp.<sup>(a)(b)</sup> | 1141 | 141142 |
| GCM Grosvenor, Inc., Class A | 2165 | 24508 |
| Goldman Sachs Group, Inc. | 18668 | 17462234 |
| Hamilton Lane, Inc., Class A | 2666 | 376546 |
| Houlihan Lokey, Inc., Class A | 3436 | 578348 |
| Interactive Brokers Group, Inc., Class A | 27243 | 2039956 |
| Intercontinental Exchange, Inc. | 36243 | 6298309 |
| Invesco Ltd. | 23471 | 640524 |
| Janus Henderson Group PLC | 7893 | 379890 |
| Jefferies Financial Group, Inc. | 9727 | 595098 |
| KKR & Co., Inc., Class A | 43084 | 4922778 |
| Lazard, Inc. | 6306 | 338758 |
| LPL Financial Holdings, Inc. | 5062 | 1845099 |
| Marex Group PLC | 3698 | 145997 |
| MarketAxess Holdings, Inc. | 2264 | 383137 |
| Miami International Holdings, Inc.<sup>(a)(b)</sup> | 1776 | 74112 |
| Moelis & Co., Class A | 4116 | 294994 |
| Moody's Corp. | 9876 | 5091671 |
| Morgan Stanley | 73168 | 13375110 |
| Morningstar, Inc. | 1436 | 290201 |
| MSCI, Inc., Class A | 4626 | 2818252 |
| Nasdaq, Inc. | 28766 | 2787138 |
| Northern Trust Corp. | 11942 | 1784493 |
| Open Lending Corp.<sup>(a)</sup> | 5715 | 10230 |
| P10, Inc., Class A | 2388 | 25743 |
| Patria Investments Ltd., Class A | 4257 | 62195 |
| Perella Weinberg Partners | 3888 | 86741 |
| Piper Sandler Cos. | 1151 | 398649 |
| PJT Partners, Inc., Class A | 1390 | 240512 |
| Raymond James Financial, Inc. | 11329 | 1879028 |
| Robinhood Markets, Inc., Class A<sup>(a)</sup> | 47017 | 4677251 |
| S&P Global, Inc. | 19259 | 10164708 |
| SEI Investments Co. | 6704 | 588946 |
| State Street Corp. | 17704 | 2316745 |
| StepStone Group, Inc., Class A | 4241 | 299796 |
| Stifel Financial Corp. | 6280 | 774324 |
| StoneX Group, Inc.<sup>(a)</sup> | 3068 | 344414 |
| Strive, Inc., Class A<sup>(a)</sup> | 13829 | 11355 |
| T. Rowe Price Group, Inc. | 13739 | 1451937 |
| TPG, Inc., Class A | 8234 | 485065 |
| Tradeweb Markets, Inc., Class A | 7538 | 776942 |
| Victory Capital Holdings, Inc., Class A | 3077 | 217021 |
| Virtu Financial, Inc., Class A | 5659 | 234905 |
| Virtus Investment Partners, Inc. | 369 | 60239 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** |  |
| Webull Corp.<sup>(a)</sup> | 18097 | $127222 |
| WisdomTree, Inc. | 8155 | 132111 |
| XP, Inc., Class A | 24635 | 480629 |
|  |  | 144915048 |
| **Chemicals — 1.1%** | **Chemicals — 1.1%** |  |
| AdvanSix, Inc. | 1773 | 28084 |
| Air Products and Chemicals, Inc. | 14113 | 3845793 |
| Albemarle Corp. | 7465 | 1273753 |
| American Vanguard Corp.<sup>(a)</sup> | 1202 | 6106 |
| Ashland, Inc. | 2815 | 172165 |
| ASP Isotopes, Inc.<sup>(a)(b)</sup> | 4710 | 29861 |
| Aspen Aerogels, Inc.<sup>(a)</sup> | 3713 | 12513 |
| Avient Corp. | 6209 | 224455 |
| Axalta Coating Systems Ltd.<sup>(a)</sup> | 13464 | 452121 |
| Balchem Corp. | 2008 | 341701 |
| Cabot Corp. | 3476 | 250932 |
| Celanese Corp., Class A | 7270 | 323079 |
| CF Industries Holdings, Inc. | 10192 | 950200 |
| Chemours Co. | 9301 | 139422 |
| Corteva, Inc. | 43461 | 3163961 |
| Dow, Inc. | 44952 | 1238428 |
| DuPont de Nemours, Inc. | 26592 | 1167921 |
| Eastman Chemical Co. | 7291 | 505412 |
| Ecolab, Inc. | 15852 | 4470106 |
| Ecovyst, Inc.<sup>(a)</sup> | 8228 | 87299 |
| Element Solutions, Inc. | 14305 | 416276 |
| FMC Corp. | 8070 | 127506 |
| Hawkins, Inc. | 1192 | 155258 |
| HB Fuller Co. | 3352 | 201455 |
| Huntsman Corp. | 10842 | 117310 |
| Ingevity Corp.<sup>(a)</sup> | 2428 | 159738 |
| Innospec, Inc. | 1590 | 129935 |
| International Flavors & Fragrances, Inc. | 16212 | 1131760 |
| Intrepid Potash, Inc.<sup>(a)</sup> | 1114 | 36584 |
| Koppers Holdings, Inc. | 1368 | 40301 |
| Kronos Worldwide, Inc. | 777 | 4079 |
| Linde PLC | 29834 | 13633243 |
| LSB Industries, Inc.<sup>(a)</sup> | 3652 | 33927 |
| LyondellBasell Industries NV, Class A | 16273 | 797377 |
| Mativ Holdings, Inc. | 4908 | 59141 |
| Minerals Technologies, Inc. | 2032 | 133624 |
| Mosaic Co. | 19690 | 541475 |
| NewMarket Corp. | 377 | 252888 |
| Olin Corp. | 7772 | 161735 |
| Orion SA | 3373 | 20845 |
| Perimeter Solutions, Inc.<sup>(a)</sup> | 8957 | 234226 |
| PPG Industries, Inc. | 14273 | 1650387 |
| PureCycle Technologies, Inc.<sup>(a)(b)</sup> | 9838 | 94051 |
| Quaker Chemical Corp. | 858 | 131909 |
| Rayonier Advanced Materials, Inc.<sup>(a)(b)</sup> | 5464 | 42401 |
| RPM International, Inc. | 8075 | 863702 |
| Scotts Miracle-Gro Co. | 2617 | 168064 |
| Sensient Technologies Corp. | 2722 | 257283 |
| Sherwin-Williams Co. | 14659 | 5198668 |
| Solstice Advanced Materials, Inc.<sup>(a)</sup> | 9960 | 615229 |
| Stepan Co. | 1403 | 80827 |
| Tronox Holdings PLC | 6792 | 41160 |
| Westlake Corp. | 2011 | 159513 |
|  |  | 46375189 |
| **Commercial Services & Supplies — 0.5%** | **Commercial Services & Supplies — 0.5%** |  |
| ABM Industries, Inc. | 3510 | 161600 |
| ACCO Brands Corp. | 3640 | 14232 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |  |
| ACV Auctions, Inc., Class A<sup>(a)</sup> | 10052 | $78506 |
| BrightView Holdings, Inc.<sup>(a)</sup> | 2533 | 33841 |
| Brink's Co. | 2607 | 331193 |
| Casella Waste Systems, Inc., Class A<sup>(a)(b)</sup> | 3988 | 402310 |
| Cimpress PLC<sup>(a)</sup> | 1338 | 105823 |
| Cintas Corp. | 21842 | 4180340 |
| Clean Harbors, Inc.<sup>(a)</sup> | 3316 | 861862 |
| Copart, Inc.<sup>(a)</sup> | 56178 | 2279703 |
| CoreCivic, Inc.<sup>(a)</sup> | 5924 | 109772 |
| Deluxe Corp. | 2249 | 59374 |
| Ennis, Inc. | 1476 | 28767 |
| Enviri Corp.<sup>(a)</sup> | 4861 | 91970 |
| GEO Group, Inc.<sup>(a)</sup> | 8758 | 139953 |
| Healthcare Services Group, Inc.<sup>(a)</sup> | 3437 | 64684 |
| HNI Corp. | 4237 | 202486 |
| Interface, Inc., Class A | 3655 | 115023 |
| Liquidity Services, Inc.<sup>(a)</sup> | 1769 | 56608 |
| MillerKnoll, Inc. | 5129 | 102990 |
| Montrose Environmental Group, Inc.<sup>(a)(b)</sup> | 1946 | 43357 |
| MSA Safety, Inc. | 2308 | 408862 |
| OPENLANE, Inc.<sup>(a)</sup> | 7187 | 215898 |
| Pitney Bowes, Inc. | 4021 | 41939 |
| Quad/Graphics, Inc., Class A | 1629 | 9970 |
| RB Global, Inc. | 11776 | 1337400 |
| Republic Services, Inc. | 12869 | 2767993 |
| Rollins, Inc. | 17830 | 1129352 |
| Tetra Tech, Inc. | 16676 | 628018 |
| UniFirst Corp. | 954 | 205110 |
| Veralto Corp. | 15146 | 1499151 |
| Vestis Corp. | 9458 | 61761 |
| Waste Management, Inc. | 23503 | 5223307 |
|  |  | 22993155 |
| **Communications Equipment — 0.9%** | **Communications Equipment — 0.9%** |  |
| ADTRAN Holdings, Inc.<sup>(a)(b)</sup> | 5274 | 48626 |
| Applied Optoelectronics, Inc.<sup>(a)</sup> | 3261 | 142212 |
| Arista Networks, Inc.<sup>(a)</sup> | 65538 | 9289356 |
| Aviat Networks, Inc.<sup>(a)</sup> | 336 | 7328 |
| Calix, Inc.<sup>(a)</sup> | 4004 | 178859 |
| Ciena Corp.<sup>(a)</sup> | 8961 | 2256470 |
| Cisco Systems, Inc. | 252865 | 19804387 |
| Clearfield, Inc.<sup>(a)</sup> | 817 | 24322 |
| Digi International, Inc.<sup>(a)</sup> | 2340 | 100784 |
| Extreme Networks, Inc.<sup>(a)</sup> | 7294 | 106347 |
| F5, Inc.<sup>(a)(b)</sup> | 3658 | 1008181 |
| Harmonic, Inc.<sup>(a)</sup> | 6424 | 62441 |
| Lumentum Holdings, Inc.<sup>(a)</sup> | 4474 | 1753092 |
| Motorola Solutions, Inc. | 10585 | 4260886 |
| NETGEAR, Inc.<sup>(a)</sup> | 1767 | 36948 |
| NetScout Systems, Inc.<sup>(a)</sup> | 4617 | 128399 |
| Ribbon Communications, Inc.<sup>(a)(b)</sup> | 4557 | 11939 |
| Ubiquiti, Inc. | 252 | 138958 |
| Viasat, Inc.<sup>(a)</sup> | 7525 | 339904 |
| Viavi Solutions, Inc.<sup>(a)</sup> | 14749 | 360761 |
| Vistance Networks, Inc.<sup>(a)</sup> | 13802 | 248436 |
|  |  | 40308636 |
| **Construction & Engineering — 0.4%** | **Construction & Engineering — 0.4%** |  |
| AECOM | 8406 | 810591 |
| Ameresco, Inc., Class A<sup>(a)(b)</sup> | 1752 | 54908 |
| API Group Corp.<sup>(a)</sup> | 23405 | 972946 |
| Arcosa, Inc. | 3111 | 356116 |
| Argan, Inc. | 827 | 287060 |
| Bowman Consulting Group Ltd.<sup>(a)</sup> | 812 | 28282 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Construction & Engineering (continued)** | **Construction & Engineering (continued)** |  |
| Centuri Holdings, Inc.<sup>(a)</sup> | 4701 | $129748 |
| Comfort Systems USA, Inc. | 2210 | 2524041 |
| Concrete Pumping Holdings, Inc.<sup>(a)</sup> | 1884 | 10890 |
| Construction Partners, Inc., Class A<sup>(a)</sup> | 2954 | 324586 |
| Dycom Industries, Inc.<sup>(a)</sup> | 1750 | 637682 |
| EMCOR Group, Inc. | 2810 | 2025251 |
| Everus Construction Group, Inc.<sup>(a)</sup> | 3345 | 295999 |
| Fluor Corp.<sup>(a)</sup> | 10324 | 476866 |
| Granite Construction, Inc. | 2789 | 336744 |
| Great Lakes Dredge & Dock Corp.<sup>(a)</sup> | 4898 | 73372 |
| IES Holdings, Inc.<sup>(a)</sup> | 582 | 221329 |
| Legence Corp., Class A<sup>(a)</sup> | 2252 | 105641 |
| Limbach Holdings, Inc.<sup>(a)(b)</sup> | 850 | 73083 |
| MasTec, Inc.<sup>(a)</sup> | 3951 | 950136 |
| Matrix Service Co.<sup>(a)</sup> | 3264 | 46740 |
| MYR Group, Inc.<sup>(a)</sup> | 982 | 245539 |
| NWPX Infrastructure, Inc.<sup>(a)</sup> | 487 | 32848 |
| Orion Group Holdings, Inc.<sup>(a)</sup> | 4006 | 48953 |
| Primoris Services Corp. | 3367 | 499158 |
| Quanta Services, Inc. | 9356 | 4440638 |
| Sterling Infrastructure, Inc.<sup>(a)</sup> | 1876 | 671439 |
| Tutor Perini Corp. | 2730 | 215370 |
| Valmont Industries, Inc. | 1237 | 551158 |
| WillScot Holdings Corp., Class A | 12097 | 242303 |
|  |  | 17689417 |
| **Construction Materials — 0.3%** | **Construction Materials — 0.3%** |  |
| CRH PLC | 43087 | 5274280 |
| Eagle Materials, Inc.<sup>(b)</sup> | 1985 | 404563 |
| James Hardie Industries PLC<sup>(a)</sup> | 9710 | 223233 |
| Knife River Corp.<sup>(a)</sup> | 3754 | 252156 |
| Martin Marietta Materials, Inc. | 3810 | 2483930 |
| U.S. Lime & Minerals, Inc.<sup>(b)</sup> | 570 | 68702 |
| Vulcan Materials Co. | 8399 | 2524235 |
|  |  | 11231099 |
| **Consumer Finance — 0.6%** | **Consumer Finance — 0.6%** |  |
| Ally Financial, Inc. | 17449 | 737744 |
| American Express Co. | 34309 | 12082601 |
| Atlanticus Holdings Corp.<sup>(a)</sup> | 526 | 27157 |
| Bread Financial Holdings, Inc. | 2626 | 190490 |
| Capital One Financial Corp. | 39934 | 8742751 |
| Consumer Portfolio Services, Inc.<sup>(a)(b)</sup> | 1875 | 16181 |
| Credit Acceptance Corp.<sup>(a)(b)</sup> | 311 | 154953 |
| Dave, Inc., Class A<sup>(a)</sup> | 692 | 113274 |
| Encore Capital Group, Inc.<sup>(a)</sup> | 1672 | 92294 |
| Enova International, Inc.<sup>(a)(b)</sup> | 1517 | 250563 |
| Figure Technology Solutions, Inc., Class A<sup>(a)(b)</sup> | 2338 | 132986 |
| FirstCash Holdings, Inc. | 2491 | 424716 |
| Green Dot Corp., Class A<sup>(a)</sup> | 4885 | 59499 |
| LendingClub Corp.<sup>(a)</sup> | 7657 | 129480 |
| LendingTree, Inc.<sup>(a)</sup> | 601 | 34053 |
| Medallion Financial Corp. | 3822 | 39328 |
| Navient Corp. | 6130 | 60135 |
| Nelnet, Inc., Class A | 580 | 76502 |
| NerdWallet, Inc., Class A<sup>(a)(b)</sup> | 2065 | 24904 |
| OneMain Holdings, Inc. | 7417 | 486110 |
| PRA Group, Inc.<sup>(a)</sup> | 2429 | 31067 |
| PROG Holdings, Inc. | 2650 | 85966 |
| Regional Management Corp. | 728 | 26972 |
| SLM Corp. | 13295 | 360959 |
| SoFi Technologies, Inc.<sup>(a)</sup> | 77032 | 1757100 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Consumer Finance (continued)** | **Consumer Finance (continued)** |  |
| Synchrony Financial | 22867 | $1660830 |
| Upstart Holdings, Inc.<sup>(a)</sup> | 5429 | 213088 |
| World Acceptance Corp.<sup>(a)</sup> | 213 | 25826 |
|  |  | 28037529 |
| **Consumer Staples Distribution & Retail — 1.8%** | **Consumer Staples Distribution & Retail — 1.8%** |  |
| Albertsons Cos., Inc., Class A | 25023 | 416633 |
| Andersons, Inc. | 2210 | 136998 |
| BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> | 8561 | 791379 |
| Casey's General Stores, Inc. | 2350 | 1425275 |
| Chefs' Warehouse, Inc.<sup>(a)(b)</sup> | 2601 | 163603 |
| Costco Wholesale Corp. | 28199 | 26514110 |
| Dollar General Corp. | 13955 | 2001566 |
| Dollar Tree, Inc.<sup>(a)</sup> | 12238 | 1439066 |
| Grocery Outlet Holding Corp.<sup>(a)(b)</sup> | 6304 | 60077 |
| HF Foods Group, Inc.<sup>(a)(b)</sup> | 1854 | 3541 |
| Ingles Markets, Inc., Class A | 1069 | 80025 |
| Kroger Co. | 38525 | 2421296 |
| Maplebear, Inc.<sup>(a)</sup> | 10802 | 401402 |
| Natural Grocers by Vitamin Cottage, Inc. | 1292 | 35298 |
| Performance Food Group Co.<sup>(a)</sup> | 9658 | 921856 |
| PriceSmart, Inc. | 1657 | 235642 |
| Sprouts Farmers Market, Inc.<sup>(a)</sup> | 6021 | 426949 |
| Sysco Corp. | 30449 | 2553149 |
| Target Corp. | 28876 | 3045552 |
| U.S. Foods Holding Corp.<sup>(a)</sup> | 14249 | 1191501 |
| United Natural Foods, Inc.<sup>(a)</sup> | 3544 | 131943 |
| Village Super Market, Inc., Class A | 1208 | 43077 |
| Walmart, Inc. | 276403 | 32930653 |
| Weis Markets, Inc. | 1178 | 83815 |
|  |  | 77454406 |
| **Containers & Packaging — 0.2%** | **Containers & Packaging — 0.2%** |  |
| Amcor PLC | 29284 | 1295817 |
| AptarGroup, Inc. | 4155 | 519167 |
| Ardagh Metal Packaging SA | 8206 | 36024 |
| Avery Dennison Corp. | 4886 | 906402 |
| Ball Corp. | 17291 | 983339 |
| Crown Holdings, Inc. | 7352 | 769607 |
| Graphic Packaging Holding Co. | 19612 | 287316 |
| Greif, Inc., Class A | 1857 | 131141 |
| Greif, Inc., Class B | 150 | 12477 |
| International Paper Co. | 33296 | 1342495 |
| Myers Industries, Inc. | 2006 | 41464 |
| O-I Glass, Inc.<sup>(a)</sup> | 9817 | 150004 |
| Packaging Corp. of America | 5611 | 1248728 |
| Ranpak Holdings Corp.<sup>(a)(b)</sup> | 2577 | 12988 |
| Sealed Air Corp. | 9053 | 379140 |
| Silgan Holdings, Inc. | 5781 | 249450 |
| Smurfit WestRock PLC | 33097 | 1377828 |
| Sonoco Products Co. | 6383 | 306384 |
| TriMas Corp. | 2253 | 78337 |
|  |  | 10128108 |
| **Distributors — 0.1%** | **Distributors — 0.1%** |  |
| Genuine Parts Co. | 8811 | 1224641 |
| GigaCloud Technology, Inc., Class A<sup>(a)</sup> | 1590 | 63489 |
| Gold.com, Inc. | 876 | 45420 |
| LKQ Corp. | 16514 | 542485 |
| Pool Corp. | 2068 | 525458 |
| Weyco Group, Inc. | 929 | 29375 |
|  |  | 2430868 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** |  |
| ADT, Inc. | 31333 | $250664 |
| Adtalem Global Education, Inc.<sup>(a)</sup> | 2433 | 251937 |
| American Public Education, Inc.<sup>(a)</sup> | 1193 | 49844 |
| Bright Horizons Family Solutions, Inc.<sup>(a)</sup> | 3546 | 328466 |
| Carriage Services, Inc. | 750 | 32182 |
| Coursera, Inc.<sup>(a)(b)</sup> | 9809 | 59443 |
| Driven Brands Holdings, Inc.<sup>(a)(b)</sup> | 3595 | 55902 |
| Duolingo, Inc., Class A<sup>(a)</sup> | 2418 | 324157 |
| European Wax Center, Inc., Class A<sup>(a)</sup> | 2320 | 9118 |
| Frontdoor, Inc.<sup>(a)</sup> | 4969 | 293718 |
| Graham Holdings Co., Class B | 194 | 226326 |
| Grand Canyon Education, Inc.<sup>(a)</sup> | 1695 | 294659 |
| H&R Block, Inc. | 8252 | 325541 |
| KinderCare Learning Cos., Inc.<sup>(a)</sup> | 2542 | 11871 |
| Laureate Education, Inc., Class A<sup>(a)</sup> | 7913 | 271416 |
| Liberty Live Holdings, Inc., Class A<sup>(a)</sup> | 1172 | 94276 |
| Liberty Live Holdings, Inc., Class C<sup>(a)</sup> | 2963 | 244685 |
| Lincoln Educational Services Corp.<sup>(a)</sup> | 1629 | 43429 |
| Matthews International Corp., Class A | 2063 | 54236 |
| McGraw Hill, Inc.<sup>(a)(b)</sup> | 2545 | 37539 |
| Mister Car Wash, Inc.<sup>(a)</sup> | 4380 | 24309 |
| Nerdy, Inc.<sup>(a)(b)</sup> | 3456 | 3387 |
| OneSpaWorld Holdings Ltd. | 7448 | 146353 |
| Perdoceo Education Corp. | 3674 | 117678 |
| Service Corp. International | 8635 | 694513 |
| Strategic Education, Inc. | 1745 | 148360 |
| Stride, Inc.<sup>(a)</sup> | 2931 | 247963 |
| Udemy, Inc.<sup>(a)</sup> | 6592 | 31707 |
| Universal Technical Institute, Inc.<sup>(a)</sup> | 3497 | 97321 |
|  |  | 4771000 |
| **Diversified REITs — 0.0%** | **Diversified REITs — 0.0%** |  |
| Alexander & Baldwin, Inc. | 4091 | 84847 |
| American Assets Trust, Inc. | 2957 | 53403 |
| Armada Hoffler Properties, Inc. | 4860 | 33874 |
| Broadstone Net Lease, Inc. | 11612 | 214938 |
| CTO Realty Growth, Inc. | 1428 | 25376 |
| Essential Properties Realty Trust, Inc. | 13019 | 395257 |
| Gladstone Commercial Corp. | 2038 | 23743 |
| Global Net Lease, Inc. | 11666 | 110360 |
| NexPoint Diversified Real Estate Trust | 268 | 1284 |
| WP Carey, Inc. | 13769 | 960388 |
|  |  | 1903470 |
| **Diversified Telecommunication Services — 0.8%** | **Diversified Telecommunication Services — 0.8%** |  |
| Anterix, Inc.<sup>(a)(b)</sup> | 1444 | 37927 |
| AST SpaceMobile, Inc., Class A<sup>(a)(b)</sup> | 13981 | 1554827 |
| AT&T, Inc. | 439077 | 11508208 |
| ATN International, Inc. | 200 | 4838 |
| Bandwidth, Inc., Class A<sup>(a)</sup> | 1171 | 16359 |
| Cogent Communications Holdings, Inc. | 2894 | 70324 |
| Comcast Corp., Class A | 229623 | 6831284 |
| ESC GCI Liberty, Inc.<sup>(d)</sup> | 3941 |  |
| GCI Liberty, Inc., Class A<sup>(a)(b)</sup> | 210 | 7869 |
| GCI Liberty, Inc., Class C<sup>(a)</sup> | 2224 | 82266 |
| Globalstar, Inc.<sup>(a)(b)</sup> | 3199 | 197122 |
| IDT Corp., Class B | 1059 | 51499 |
| Iridium Communications, Inc. | 6327 | 126034 |
| Liberty Global Ltd., Class A<sup>(a)(b)</sup> | 8798 | 97570 |
| Liberty Global Ltd., Class C<sup>(a)(b)</sup> | 8120 | 89970 |
| Liberty Latin America Ltd., Class A<sup>(a)</sup> | 4385 | 33852 |
| Liberty Latin America Ltd., Class C<sup>(a)</sup> | 7372 | 57354 |
| Lumen Technologies, Inc.<sup>(a)</sup> | 58031 | 511833 |
| Shenandoah Telecommunications Co. | 3990 | 47361 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** |  |
| Uniti Group, Inc.<sup>(a)</sup> | 8612 | $71652 |
| Verizon Communications, Inc. | 268319 | 11945562 |
|  |  | 33343711 |
| **Electric Utilities — 1.4%** | **Electric Utilities — 1.4%** |  |
| Alliant Energy Corp. | 16317 | 1075453 |
| American Electric Power Co., Inc. | 33989 | 4071033 |
| Constellation Energy Corp. | 19899 | 5585251 |
| Duke Energy Corp. | 49424 | 5997602 |
| Edison International | 24213 | 1507986 |
| Entergy Corp. | 28367 | 2720112 |
| Evergy, Inc. | 15012 | 1151871 |
| Eversource Energy | 23597 | 1631261 |
| Exelon Corp. | 64215 | 2875548 |
| FirstEnergy Corp. | 34860 | 1650272 |
| Genie Energy Ltd., Class B | 1945 | 26783 |
| Hawaiian Electric Industries, Inc.<sup>(a)</sup> | 11096 | 169991 |
| IDACORP, Inc. | 3536 | 469545 |
| MGE Energy, Inc. | 2196 | 175416 |
| NextEra Energy, Inc. | 132538 | 11650090 |
| NRG Energy, Inc. | 11957 | 1824997 |
| OGE Energy Corp. | 12761 | 557401 |
| Oklo, Inc., Class A<sup>(a)(b)</sup> | 7000 | 557340 |
| Otter Tail Corp. | 2546 | 227001 |
| PG&E Corp. | 139282 | 2147728 |
| Pinnacle West Capital Corp. | 7468 | 698706 |
| Portland General Electric Co. | 7308 | 367227 |
| PPL Corp. | 47019 | 1704439 |
| Southern Co. | 70004 | 6252057 |
| TXNM Energy, Inc. | 6569 | 387046 |
| Xcel Energy, Inc. | 37599 | 2859780 |
|  |  | 58341936 |
| **Electrical Equipment — 1.1%** | **Electrical Equipment — 1.1%** |  |
| Acuity, Inc. | 1941 | 600235 |
| Allient, Inc. | 976 | 59546 |
| American Superconductor Corp.<sup>(a)</sup> | 3134 | 93769 |
| AMETEK, Inc. | 14636 | 3278171 |
| Amprius Technologies, Inc.<sup>(a)(b)</sup> | 5831 | 72538 |
| Array Technologies, Inc.<sup>(a)</sup> | 9308 | 105413 |
| Atkore, Inc. | 2278 | 158207 |
| Bloom Energy Corp., Class A<sup>(a)(b)</sup> | 13747 | 2080883 |
| Eaton Corp. PLC | 24897 | 8749304 |
| Emerson Electric Co. | 35807 | 5262197 |
| EnerSys | 2362 | 425609 |
| Enovix Corp.<sup>(a)(b)</sup> | 9039 | 59838 |
| Eos Energy Enterprises, Inc., Class A<sup>(a)(b)</sup> | 20702 | 303077 |
| Fluence Energy, Inc., Class A<sup>(a)(b)</sup> | 3874 | 119203 |
| GE Vernova, Inc. | 17369 | 12616321 |
| Generac Holdings, Inc.<sup>(a)</sup> | 3671 | 616875 |
| Hubbell, Inc. | 3399 | 1658508 |
| Hyliion Holdings Corp.<sup>(a)(b)</sup> | 5934 | 12165 |
| LSI Industries, Inc. | 2248 | 49703 |
| NANO Nuclear Energy, Inc.<sup>(a)(b)</sup> | 1753 | 51529 |
| Nextpower, Inc., Class A<sup>(a)</sup> | 9146 | 1070905 |
| NuScale Power Corp.<sup>(a)(b)</sup> | 8516 | 148860 |
| nVent Electric PLC | 10116 | 1135622 |
| Plug Power, Inc.<sup>(a)(b)</sup> | 71278 | 150753 |
| Powell Industries, Inc. | 657 | 291439 |
| Power Solutions International, Inc.<sup>(a)(b)</sup> | 772 | 55322 |
| Preformed Line Products Co. | 83 | 20828 |
| Regal Rexnord Corp. | 4195 | 677492 |
| Rockwell Automation, Inc. | 7189 | 3031242 |
| Sensata Technologies Holding PLC | 9360 | 323762 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Electrical Equipment (continued)** | **Electrical Equipment (continued)** |  |
| Shoals Technologies Group, Inc., Class A<sup>(a)</sup> | 10860 | $102518 |
| Sunrun, Inc.<sup>(a)(b)</sup> | 13791 | 262029 |
| T1 Energy, Inc.<sup>(a)</sup> | 9220 | 76803 |
| Thermon Group Holdings, Inc.<sup>(a)</sup> | 2167 | 98057 |
| Vertiv Holdings Co., Class A | 24169 | 4499784 |
| Vicor Corp.<sup>(a)</sup> | 1278 | 201502 |
|  |  | 48520009 |
| **Electronic Equipment, Instruments & Components — 0.9%** | **Electronic Equipment, Instruments & Components — 0.9%** |  |
| 908 Devices, Inc.<sup>(a)(b)</sup> | 1976 | 12469 |
| Advanced Energy Industries, Inc.<sup>(b)</sup> | 2370 | 605203 |
| Aeva Technologies, Inc.<sup>(a)(b)</sup> | 2307 | 29460 |
| Amphenol Corp., Class A | 77519 | 11168938 |
| Arlo Technologies, Inc.<sup>(a)</sup> | 6948 | 88170 |
| Arrow Electronics, Inc.<sup>(a)</sup> | 3267 | 432845 |
| Avnet, Inc. | 5467 | 341086 |
| Badger Meter, Inc. | 1969 | 288616 |
| Bel Fuse, Inc., Class B | 688 | 138419 |
| Belden, Inc. | 2454 | 288370 |
| Benchmark Electronics, Inc. | 2094 | 109181 |
| CDW Corp. | 8275 | 1045877 |
| Climb Global Solutions, Inc. | 377 | 44708 |
| Cognex Corp. | 11038 | 427612 |
| Coherent Corp.<sup>(a)</sup> | 9869 | 2094004 |
| Corning, Inc. | 49601 | 5121303 |
| Crane NXT Co. | 3098 | 156511 |
| CTS Corp. | 1973 | 101432 |
| Daktronics, Inc.<sup>(a)</sup> | 1753 | 40582 |
| ePlus, Inc. | 1893 | 162438 |
| Evolv Technologies Holdings, Inc., Class A<sup>(a)</sup> | 6676 | 41325 |
| Fabrinet<sup>(a)</sup> | 2272 | 1112008 |
| Flex Ltd.<sup>(a)</sup> | 23374 | 1473497 |
| Ingram Micro Holding Corp.<sup>(b)</sup> | 2029 | 42853 |
| Insight Enterprises, Inc.<sup>(a)</sup> | 1886 | 158462 |
| IPG Photonics Corp.<sup>(a)</sup> | 1542 | 142496 |
| Itron, Inc.<sup>(a)</sup> | 2767 | 274154 |
| Jabil, Inc. | 6701 | 1589410 |
| Keysight Technologies, Inc.<sup>(a)</sup> | 10931 | 2364703 |
| Kimball Electronics, Inc.<sup>(a)</sup> | 2170 | 65556 |
| Knowles Corp.<sup>(a)</sup> | 5726 | 138798 |
| Littelfuse, Inc. | 1560 | 505066 |
| Methode Electronics, Inc. | 2506 | 20023 |
| MicroVision, Inc.<sup>(a)(b)</sup> | 9988 | 8116 |
| Mirion Technologies, Inc.<sup>(a)</sup> | 15975 | 396819 |
| Napco Security Technologies, Inc. | 2262 | 83445 |
| nLight, Inc.<sup>(a)</sup> | 2689 | 122645 |
| Novanta, Inc.<sup>(a)</sup> | 2250 | 302715 |
| OSI Systems, Inc.<sup>(a)</sup> | 971 | 242886 |
| Ouster, Inc.<sup>(a)</sup> | 3812 | 79404 |
| PC Connection, Inc. | 993 | 58398 |
| Plexus Corp.<sup>(a)</sup> | 1781 | 355007 |
| Powerfleet, Inc. NJ<sup>(a)</sup> | 7944 | 40594 |
| Ralliant Corp. | 7066 | 374286 |
| Rogers Corp.<sup>(a)</sup> | 1134 | 110270 |
| Sanmina Corp.<sup>(a)</sup> | 3286 | 465561 |
| ScanSource, Inc.<sup>(a)</sup> | 1707 | 73384 |
| TD SYNNEX Corp. | 4778 | 758125 |
| Teledyne Technologies, Inc.<sup>(a)</sup> | 2953 | 1831746 |
| TTM Technologies, Inc.<sup>(a)</sup> | 6478 | 636140 |
| Vishay Intertechnology, Inc. | 7799 | 157150 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Electronic Equipment, Instruments & Components (continued)** | **Electronic Equipment, Instruments & Components (continued)** |  |
| Vishay Precision Group, Inc.<sup>(a)(b)</sup> | 804 | $40264 |
| Vontier Corp. | 8939 | 335213 |
| Zebra Technologies Corp., Class A<sup>(a)</sup> | 3229 | 758750 |
|  |  | 37856493 |
| **Energy Equipment & Services — 0.4%** | **Energy Equipment & Services — 0.4%** |  |
| Archrock, Inc. | 10504 | 310813 |
| Atlas Energy Solutions, Inc. | 5027 | 58665 |
| Baker Hughes Co., Class A | 63004 | 3530744 |
| Borr Drilling Ltd. | 13940 | 65239 |
| Bristow Group, Inc.<sup>(a)</sup> | 2220 | 97591 |
| Cactus, Inc., Class A | 4027 | 226438 |
| Core Laboratories, Inc. | 3218 | 62880 |
| DMC Global, Inc.<sup>(a)</sup> | 948 | 8153 |
| Expro Group Holdings NV<sup>(a)</sup> | 5586 | 89432 |
| Flowco Holdings, Inc., Class A | 518 | 10826 |
| Forum Energy Technologies, Inc.<sup>(a)</sup> | 1122 | 50759 |
| Halliburton Co. | 53317 | 1787186 |
| Helix Energy Solutions Group, Inc.<sup>(a)</sup> | 9071 | 72024 |
| Helmerich & Payne, Inc. | 6046 | 204839 |
| Innovex International, Inc.<sup>(a)(b)</sup> | 2080 | 51688 |
| Kodiak Gas Services, Inc. | 5582 | 234500 |
| Liberty Energy, Inc., Class A | 9183 | 226361 |
| Nabors Industries Ltd.<sup>(a)</sup> | 626 | 41842 |
| National Energy Services Reunited Corp.<sup>(a)</sup> | 4082 | 80334 |
| Noble Corp. PLC | 7629 | 271745 |
| NOV, Inc. | 23041 | 422802 |
| Oceaneering International, Inc.<sup>(a)</sup> | 6547 | 197065 |
| Oil States International, Inc.<sup>(a)</sup> | 1169 | 9901 |
| Patterson-UTI Energy, Inc. | 24743 | 186315 |
| ProFrac Holding Corp., Class A<sup>(a)(b)</sup> | 1185 | 6174 |
| ProPetro Holding Corp.<sup>(a)</sup> | 6951 | 79867 |
| Ranger Energy Services, Inc., Class A | 2773 | 42760 |
| RPC, Inc. | 4947 | 32898 |
| SEACOR Marine Holdings, Inc.<sup>(a)(b)</sup> | 1945 | 12993 |
| Seadrill Ltd.<sup>(a)</sup> | 4582 | 176315 |
| Select Water Solutions, Inc., Class A | 4294 | 51914 |
| SLB Ltd. | 95284 | 4609840 |
| Solaris Energy Infrastructure, Inc., Class A | 2375 | 131076 |
| TechnipFMC PLC | 25461 | 1418687 |
| TETRA Technologies, Inc.<sup>(a)</sup> | 6116 | 69722 |
| Tidewater, Inc.<sup>(a)(b)</sup> | 3185 | 199031 |
| Transocean Ltd.<sup>(a)(b)</sup> | 60891 | 302628 |
| Valaris Ltd.<sup>(a)</sup> | 4247 | 245179 |
| Weatherford International PLC | 4470 | 420538 |
|  |  | 16097764 |
| **Entertainment — 1.4%** | **Entertainment — 1.4%** |  |
| AMC Entertainment Holdings, Inc., Class A<sup>(a)(b)</sup> | 22790 | 31678 |
| Atlanta Braves Holdings, Inc., Class A<sup>(a)(b)</sup> | 602 | 26500 |
| Atlanta Braves Holdings, Inc., Class C<sup>(a)(b)</sup> | 3524 | 140713 |
| Cinemark Holdings, Inc. | 6676 | 158088 |
| Electronic Arts, Inc. | 15975 | 3257622 |
| Eventbrite, Inc., Class A<sup>(a)</sup> | 4028 | 17804 |
| IMAX Corp.<sup>(a)(b)</sup> | 2341 | 81724 |
| Liberty Media Corp.-Liberty Formula One, Class A<sup>(a)</sup> | 1299 | 103517 |
| Liberty Media Corp.-Liberty Formula One, Class C<sup>(a)</sup> | 13191 | 1147881 |
| Lionsgate Studios Corp.<sup>(a)</sup> | 15574 | 147019 |
| Live Nation Entertainment, Inc.<sup>(a)</sup> | 10054 | 1462354 |
| Madison Square Garden Entertainment Corp., <br> Class A<sup>(a)</sup><br>| 2278 | 140940 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** |  |
| Madison Square Garden Sports Corp., Class A<sup>(a)</sup> | 1005 | $284968 |
| Marcus Corp. | 914 | 13792 |
| Netflix, Inc.<sup>(a)</sup> | 269248 | 22479515 |
| Playstudios, Inc., Class A<sup>(a)</sup> | 4630 | 2938 |
| Playtika Holding Corp. | 6719 | 24323 |
| ROBLOX Corp., Class A<sup>(a)</sup> | 39403 | 2591141 |
| Roku, Inc., Class A<sup>(a)</sup> | 8160 | 776832 |
| Sphere Entertainment Co., Class A<sup>(a)(b)</sup> | 1765 | 168575 |
| Spotify Technology SA<sup>(a)</sup> | 9772 | 4889420 |
| Starz Entertainment Corp.<sup>(a)(b)</sup> | 1038 | 10370 |
| Take-Two Interactive Software, Inc.<sup>(a)</sup> | 11573 | 2549532 |
| TKO Group Holdings, Inc., Class A | 4367 | 884667 |
| Vivid Seats, Inc., Class A<sup>(a)(b)</sup> | 137 | 999 |
| Walt Disney Co. | 115050 | 12977640 |
| Warner Bros Discovery, Inc., Class A<sup>(a)</sup> | 147965 | 4074956 |
|  |  | 58445508 |
| **Financial Services — 3.3%** | **Financial Services — 3.3%** |  |
| Affirm Holdings, Inc., Class A<sup>(a)</sup> | 17461 | 1052898 |
| Alerus Financial Corp. | 1174 | 28904 |
| Apollo Global Management, Inc. | 26191 | 3523737 |
| Banco Latinoamericano de Comercio Exterior SA, <br> Class E<br>| 1539 | 74595 |
| Berkshire Hathaway, Inc., Class B<sup>(a)</sup> | 117176 | 56306583 |
| Block, Inc., Class A<sup>(a)</sup> | 33979 | 2053351 |
| Burford Capital Ltd. | 12571 | 121813 |
| Cannae Holdings, Inc. | 2410 | 34728 |
| Cantaloupe, Inc.<sup>(a)(b)</sup> | 2911 | 31264 |
| Cass Information Systems, Inc. | 1157 | 52019 |
| Compass Diversified Holdings | 4320 | 28382 |
| Corpay, Inc.<sup>(a)</sup> | 4317 | 1358258 |
| Enact Holdings, Inc. | 1946 | 77392 |
| Equitable Holdings, Inc. | 19518 | 905635 |
| Essent Group Ltd. | 5912 | 371983 |
| Euronet Worldwide, Inc.<sup>(a)</sup> | 2667 | 193251 |
| EVERTEC, Inc. | 4185 | 125592 |
| Federal Agricultural Mortgage Corp., Class C | 582 | 98533 |
| Fidelity National Information Services, Inc. | 33452 | 1848223 |
| Fiserv, Inc.<sup>(a)</sup> | 34003 | 2167011 |
| Flywire Corp.<sup>(a)</sup> | 8552 | 107755 |
| Global Payments, Inc. | 15304 | 1097909 |
| HA Sustainable Infrastructure Capital, Inc. | 7807 | 268639 |
| International Money Express, Inc.<sup>(a)</sup> | 2474 | 38248 |
| Jack Henry & Associates, Inc. | 4545 | 814510 |
| Jackson Financial, Inc., Class A | 4336 | 515637 |
| Marqeta, Inc., Class A<sup>(a)</sup> | 19644 | 81130 |
| Mastercard, Inc., Class A | 51108 | 27536479 |
| Merchants Bancorp | 1371 | 56842 |
| MGIC Investment Corp. | 14532 | 391201 |
| NCR Atleos Corp.<sup>(a)</sup> | 4883 | 182136 |
| NewtekOne, Inc. | 1733 | 23378 |
| NMI Holdings, Inc., Class A<sup>(a)</sup> | 4631 | 179312 |
| Onity Group, Inc.<sup>(a)(b)</sup> | 372 | 16822 |
| Pagseguro Digital Ltd., Class A | 12586 | 141593 |
| Payoneer Global, Inc.<sup>(a)</sup> | 16194 | 103480 |
| PayPal Holdings, Inc. | 59518 | 3136003 |
| Paysafe Ltd.<sup>(a)(b)</sup> | 1495 | 10256 |
| Paysign, Inc.<sup>(a)</sup> | 967 | 4032 |
| PennyMac Financial Services, Inc., Class A | 1806 | 180456 |
| Radian Group, Inc. | 8226 | 270635 |
| Remitly Global, Inc.<sup>(a)</sup> | 12149 | 160610 |
| Repay Holdings Corp., Class A<sup>(a)</sup> | 5002 | 17457 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Financial Services (continued)** | **Financial Services (continued)** |  |
| Rocket Cos., Inc., Class A | 59811 | $1072411 |
| Sezzle, Inc.<sup>(a)(b)</sup> | 1004 | 63493 |
| Shift4 Payments, Inc., Class A<sup>(a)(b)</sup> | 3971 | 234448 |
| StoneCo Ltd., Class A<sup>(a)</sup> | 16329 | 263550 |
| Toast, Inc., Class A<sup>(a)</sup> | 29425 | 915412 |
| UWM Holdings Corp., Class A | 12440 | 61080 |
| Visa, Inc., Class A | 106944 | 34417788 |
| Voya Financial, Inc. | 6336 | 485718 |
| Walker & Dunlop, Inc. | 1881 | 118296 |
| Western Union Co. | 18154 | 170103 |
| WEX, Inc.<sup>(a)</sup> | 2088 | 321343 |
|  |  | 143912314 |
| **Food Products — 0.5%** | **Food Products — 0.5%** |  |
| Archer-Daniels-Midland Co. | 30365 | 2043868 |
| B&G Foods, Inc. | 4306 | 18817 |
| Beyond Meat, Inc.<sup>(a)(b)</sup> | 4136 | 3157 |
| BRC, Inc., Class A<sup>(a)(b)</sup> | 2764 | 2286 |
| Bunge Global SA | 8557 | 974471 |
| Calavo Growers, Inc. | 1112 | 28289 |
| Cal-Maine Foods, Inc. | 2884 | 240901 |
| Conagra Brands, Inc. | 29341 | 543102 |
| Darling Ingredients, Inc.<sup>(a)</sup> | 9935 | 453632 |
| Dole PLC | 5443 | 86707 |
| Flowers Foods, Inc. | 12222 | 139697 |
| Fresh Del Monte Produce, Inc. | 2317 | 91892 |
| Freshpet, Inc.<sup>(a)</sup> | 3000 | 209100 |
| General Mills, Inc. | 33887 | 1567613 |
| Hain Celestial Group, Inc.<sup>(a)</sup> | 6528 | 7899 |
| Hershey Co. | 9255 | 1802411 |
| Hormel Foods Corp. | 18216 | 448296 |
| Ingredion, Inc. | 3928 | 463897 |
| J & J Snack Foods Corp. | 807 | 76665 |
| J.M. Smucker Co. | 6478 | 679283 |
| John B Sanfilippo & Son, Inc. | 672 | 54365 |
| Kraft Heinz Co. | 54150 | 1285521 |
| Lamb Weston Holdings, Inc. | 8773 | 402944 |
| Limoneira Co. | 1461 | 21038 |
| Mama's Creations, Inc.<sup>(a)</sup> | 3155 | 47641 |
| Marzetti Co. | 1403 | 240713 |
| McCormick & Co., Inc. | 16085 | 994536 |
| Mission Produce, Inc.<sup>(a)(b)</sup> | 2341 | 31510 |
| Mondelez International, Inc., Class A | 82309 | 4812607 |
| Pilgrim's Pride Corp. | 2884 | 125079 |
| Post Holdings, Inc.<sup>(a)</sup> | 2936 | 300382 |
| Seaboard Corp. | 12 | 60987 |
| Seneca Foods Corp., Class A<sup>(a)(b)</sup> | 161 | 19212 |
| Simply Good Foods Co.<sup>(a)</sup> | 5858 | 109955 |
| Smithfield Foods, Inc. | 1811 | 43283 |
| SunOpta, Inc.<sup>(a)</sup> | 6076 | 27828 |
| The Campbell's Co. | 13186 | 368944 |
| Tootsie Roll Industries, Inc. | 1675 | 63449 |
| TreeHouse Foods, Inc.<sup>(a)</sup> | 3444 | 84860 |
| Tyson Foods, Inc., Class A | 17774 | 1161175 |
| Utz Brands, Inc., Class A | 4872 | 51351 |
| Vital Farms, Inc.<sup>(a)(b)</sup> | 2416 | 68735 |
| Westrock Coffee Co.<sup>(a)(b)</sup> | 2383 | 11510 |
|  |  | 20269608 |
| **Gas Utilities — 0.1%** | **Gas Utilities — 0.1%** |  |
| Atmos Energy Corp. | 10167 | 1691179 |
| Brookfield Infrastructure Corp., Class A | 8025 | 383996 |
| Chesapeake Utilities Corp. | 1503 | 193406 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Gas Utilities (continued)** | **Gas Utilities (continued)** |  |
| MDU Resources Group, Inc. | 13381 | $274444 |
| National Fuel Gas Co. | 5697 | 477124 |
| New Jersey Resources Corp. | 6393 | 316326 |
| Northwest Natural Holding Co. | 2475 | 115236 |
| ONE Gas, Inc. | 3766 | 299623 |
| Southwest Gas Holdings, Inc. | 4276 | 354138 |
| Spire, Inc. | 3669 | 309994 |
| UGI Corp. | 13660 | 547902 |
|  |  | 4963368 |
| **Ground Transportation — 0.8%** | **Ground Transportation — 0.8%** |  |
| ArcBest Corp. | 1534 | 138398 |
| Avis Budget Group, Inc.<sup>(a)(b)</sup> | 1163 | 133733 |
| Covenant Logistics Group, Inc., Class A | 1756 | 43198 |
| CSX Corp. | 119255 | 4503069 |
| FTAI Infrastructure, Inc. | 7753 | 45123 |
| Heartland Express, Inc. | 3436 | 34669 |
| Hertz Global Holdings, Inc.<sup>(a)</sup> | 8951 | 43860 |
| JB Hunt Transport Services, Inc. | 4867 | 986638 |
| Knight-Swift Transportation Holdings, Inc. | 9802 | 540090 |
| Landstar System, Inc. | 2293 | 342483 |
| Lyft, Inc., Class A<sup>(a)</sup> | 24826 | 418815 |
| Marten Transport Ltd. | 4841 | 59544 |
| Norfolk Southern Corp. | 14347 | 4178420 |
| Old Dominion Freight Line, Inc. | 11839 | 2050515 |
| RXO, Inc.<sup>(a)</sup> | 10974 | 160001 |
| Ryder System, Inc. | 2431 | 465002 |
| Saia, Inc.<sup>(a)</sup> | 1644 | 550526 |
| Schneider National, Inc., Class B | 3106 | 83365 |
| Uber Technologies, Inc.<sup>(a)</sup> | 127906 | 10238875 |
| U-Haul Holding Co.<sup>(a)(b)</sup> | 504 | 28501 |
| U-Haul Holding Co., Series N | 6558 | 336491 |
| Union Pacific Corp. | 37994 | 8932389 |
| Universal Logistics Holdings, Inc. | 345 | 5523 |
| Werner Enterprises, Inc. | 3887 | 133130 |
| XPO, Inc.<sup>(a)</sup> | 7272 | 1077056 |
|  |  | 35529414 |
| **Health Care Equipment & Supplies — 1.9%** | **Health Care Equipment & Supplies — 1.9%** |  |
| Abbott Laboratories | 110008 | 12023874 |
| Accuray, Inc.<sup>(a)</sup> | 6907 | 5576 |
| Align Technology, Inc.<sup>(a)</sup> | 4354 | 709833 |
| Alphatec Holdings, Inc.<sup>(a)</sup> | 6821 | 101155 |
| AngioDynamics, Inc.<sup>(a)</sup> | 2055 | 21290 |
| Artivion, Inc.<sup>(a)</sup> | 2287 | 93241 |
| AtriCure, Inc.<sup>(a)(b)</sup> | 3211 | 118582 |
| Avanos Medical, Inc.<sup>(a)</sup> | 2746 | 36577 |
| Axogen, Inc.<sup>(a)</sup> | 2915 | 101588 |
| Baxter International, Inc. | 32421 | 650689 |
| Becton Dickinson & Co. | 18172 | 3697639 |
| Beta Bionics, Inc.<sup>(a)(b)</sup> | 2466 | 34105 |
| Bioventus, Inc., Class A<sup>(a)</sup> | 3134 | 24853 |
| Boston Scientific Corp.<sup>(a)</sup> | 93776 | 8770869 |
| Butterfly Network, Inc., Class A<sup>(a)</sup> | 13160 | 52114 |
| Ceribell, Inc.<sup>(a)</sup> | 1864 | 38417 |
| Cerus Corp.<sup>(a)(b)</sup> | 10433 | 24309 |
| ClearPoint Neuro, Inc.<sup>(a)(b)</sup> | 3143 | 40639 |
| CONMED Corp. | 1948 | 74784 |
| Cooper Cos., Inc.<sup>(a)</sup> | 12602 | 1025551 |
| CVRx, Inc.<sup>(a)(b)</sup> | 1241 | 8501 |
| Delcath Systems, Inc.<sup>(a)</sup> | 2866 | 28402 |
| Dentsply Sirona, Inc. | 13255 | 165290 |
| Dexcom, Inc.<sup>(a)</sup> | 24840 | 1814314 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** |  |
| Edwards Lifesciences Corp.<sup>(a)</sup> | 36564 | $2974847 |
| Embecta Corp. | 3199 | 33941 |
| Enovis Corp.<sup>(a)</sup> | 3332 | 73437 |
| Envista Holdings Corp.<sup>(a)</sup> | 9851 | 231203 |
| GE HealthCare Technologies, Inc.<sup>(a)</sup> | 29078 | 2296290 |
| Glaukos Corp.<sup>(a)</sup> | 3471 | 414368 |
| Globus Medical, Inc., Class A<sup>(a)</sup> | 7123 | 645914 |
| Haemonetics Corp.<sup>(a)</sup> | 3309 | 220578 |
| Hologic, Inc.<sup>(a)</sup> | 14171 | 1061833 |
| ICU Medical, Inc.<sup>(a)</sup> | 1458 | 218554 |
| IDEXX Laboratories, Inc.<sup>(a)</sup> | 5061 | 3393198 |
| Inogen, Inc.<sup>(a)</sup> | 1013 | 5977 |
| Inspire Medical Systems, Inc.<sup>(a)</sup> | 1997 | 151333 |
| Insulet Corp.<sup>(a)</sup> | 4454 | 1139378 |
| Integer Holdings Corp.<sup>(a)</sup> | 2278 | 197867 |
| Integra LifeSciences Holdings Corp.<sup>(a)</sup> | 4179 | 46554 |
| Intuitive Surgical, Inc.<sup>(a)</sup> | 22425 | 11307133 |
| iRadimed Corp. | 665 | 65090 |
| iRhythm Technologies, Inc.<sup>(a)</sup> | 2102 | 324780 |
| Kestra Medical Technologies Ltd.<sup>(a)(b)</sup> | 1609 | 39694 |
| Lantheus Holdings, Inc.<sup>(a)</sup> | 4430 | 296456 |
| LeMaitre Vascular, Inc. | 1369 | 116324 |
| LivaNova PLC<sup>(a)</sup> | 3277 | 215332 |
| Masimo Corp.<sup>(a)</sup> | 2954 | 405673 |
| Medtronic PLC | 81471 | 8388254 |
| Merit Medical Systems, Inc.<sup>(a)</sup> | 3881 | 314710 |
| Neogen Corp.<sup>(a)</sup> | 15391 | 157296 |
| NeuroPace, Inc.<sup>(a)(b)</sup> | 2986 | 45178 |
| Novocure Ltd.<sup>(a)</sup> | 6754 | 83750 |
| Omnicell, Inc.<sup>(a)</sup> | 2769 | 134296 |
| OraSure Technologies, Inc.<sup>(a)</sup> | 4522 | 12616 |
| Orthofix Medical, Inc.<sup>(a)</sup> | 3934 | 52047 |
| OrthoPediatrics Corp.<sup>(a)(b)</sup> | 1412 | 24653 |
| Penumbra, Inc.<sup>(a)</sup> | 2376 | 851012 |
| PROCEPT BioRobotics Corp.<sup>(a)(b)</sup> | 3652 | 105762 |
| Pulmonx Corp.<sup>(a)</sup> | 2572 | 4218 |
| Pulse Biosciences, Inc.<sup>(a)(b)</sup> | 1753 | 24244 |
| QuidelOrtho Corp.<sup>(a)</sup> | 4965 | 134899 |
| ResMed, Inc. | 9275 | 2395825 |
| RxSight, Inc.<sup>(a)</sup> | 2600 | 22594 |
| SI-BONE, Inc.<sup>(a)</sup> | 2624 | 43506 |
| Sight Sciences, Inc.<sup>(a)</sup> | 22 | 138 |
| Solventum Corp.<sup>(a)</sup> | 9379 | 721902 |
| STAAR Surgical Co.<sup>(a)</sup> | 2738 | 51885 |
| STERIS PLC | 6237 | 1637836 |
| Stryker Corp. | 21867 | 8081168 |
| Tactile Systems Technology, Inc.<sup>(a)</sup> | 1111 | 32063 |
| Tandem Diabetes Care, Inc.<sup>(a)</sup> | 4223 | 83995 |
| Teleflex, Inc. | 2843 | 296724 |
| TransMedics Group, Inc.<sup>(a)</sup> | 2113 | 283089 |
| Treace Medical Concepts, Inc.<sup>(a)</sup> | 3386 | 7856 |
| UFP Technologies, Inc.<sup>(a)</sup> | 514 | 129086 |
| Utah Medical Products, Inc. | 90 | 5495 |
| Varex Imaging Corp.<sup>(a)</sup> | 2011 | 28033 |
| Zimmer Biomet Holdings, Inc. | 12581 | 1095428 |
|  |  | 80787504 |
| **Health Care Providers & Services — 1.6%** | **Health Care Providers & Services — 1.6%** |  |
| Acadia Healthcare Co., Inc.<sup>(a)(b)</sup> | 5801 | 77965 |
| AdaptHealth Corp.<sup>(a)</sup> | 6768 | 68018 |
| Addus HomeCare Corp.<sup>(a)</sup> | 1025 | 106067 |
| agilon health, Inc.<sup>(a)(b)</sup> | 17802 | 14815 |
| Alignment Healthcare, Inc.<sup>(a)</sup> | 11460 | 258194 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** |  |
| AMN Healthcare Services, Inc.<sup>(a)</sup> | 2547 | $54251 |
| Ardent Health, Inc.<sup>(a)</sup> | 2578 | 21062 |
| Astrana Health, Inc.<sup>(a)</sup> | 2670 | 60716 |
| Aveanna Healthcare Holdings, Inc.<sup>(a)</sup> | 2110 | 17724 |
| BrightSpring Health Services, Inc.<sup>(a)</sup> | 7343 | 288360 |
| Brookdale Senior Living, Inc.<sup>(a)</sup> | 14257 | 213855 |
| Cardinal Health, Inc. | 15160 | 3257581 |
| Castle Biosciences, Inc.<sup>(a)</sup> | 1921 | 75668 |
| Cencora, Inc. | 11632 | 4178447 |
| Centene Corp.<sup>(a)</sup> | 31133 | 1348682 |
| Chemed Corp. | 887 | 378873 |
| Cigna Group | 16737 | 4587779 |
| Clover Health Investments Corp., Class A<sup>(a)(b)</sup> | 28423 | 63667 |
| Community Health Systems, Inc.<sup>(a)(b)</sup> | 5422 | 17405 |
| Concentra Group Holdings Parent, Inc. | 6773 | 150225 |
| CorVel Corp.<sup>(a)</sup> | 1761 | 122618 |
| Cross Country Healthcare, Inc.<sup>(a)</sup> | 2722 | 25369 |
| CVS Health Corp. | 79569 | 5929482 |
| DaVita, Inc.<sup>(a)</sup> | 2267 | 247874 |
| DocGo, Inc.<sup>(a)(b)</sup> | 4887 | 3746 |
| Elevance Health, Inc. | 14132 | 4885998 |
| Encompass Health Corp. | 6328 | 598186 |
| Enhabit, Inc.<sup>(a)(b)</sup> | 3056 | 32485 |
| Ensign Group, Inc. | 3610 | 619693 |
| Fulgent Genetics, Inc.<sup>(a)</sup> | 1533 | 40165 |
| GeneDx Holdings Corp., Class A<sup>(a)</sup> | 1321 | 127159 |
| Guardant Health, Inc.<sup>(a)</sup> | 7843 | 894416 |
| Guardian Pharmacy Services, Inc., Class A<sup>(a)</sup> | 1562 | 47172 |
| HCA Healthcare, Inc. | 10297 | 5027716 |
| HealthEquity, Inc.<sup>(a)</sup> | 5169 | 442828 |
| Henry Schein, Inc.<sup>(a)</sup> | 6748 | 509339 |
| Hims & Hers Health, Inc., Class A<sup>(a)(b)</sup> | 13520 | 366257 |
| Humana, Inc. | 7669 | 1496989 |
| Innovage Holding Corp.<sup>(a)</sup> | 978 | 5428 |
| Joint Corp.<sup>(a)(b)</sup> | 820 | 8020 |
| Labcorp Holdings, Inc. | 5309 | 1441500 |
| LifeStance Health Group, Inc.<sup>(a)(b)</sup> | 13185 | 93218 |
| McKesson Corp. | 7973 | 6627237 |
| Molina Healthcare, Inc.<sup>(a)</sup> | 3157 | 566966 |
| Nano-X Imaging Ltd.<sup>(a)(b)</sup> | 2926 | 7988 |
| National HealthCare Corp. | 790 | 113057 |
| National Research Corp., Class A | 1109 | 22557 |
| NeoGenomics, Inc.<sup>(a)</sup> | 8616 | 103909 |
| Nutex Health, Inc.<sup>(a)(b)</sup> | 345 | 51333 |
| OPKO Health, Inc.<sup>(a)(b)</sup> | 22404 | 28229 |
| Option Care Health, Inc.<sup>(a)</sup> | 9846 | 334764 |
| Owens & Minor, Inc.<sup>(a)</sup> | 5500 | 12155 |
| PACS Group, Inc.<sup>(a)</sup> | 2598 | 87708 |
| Pediatrix Medical Group, Inc.<sup>(a)</sup> | 5332 | 113998 |
| Pennant Group, Inc.<sup>(a)</sup> | 2548 | 70376 |
| Privia Health Group, Inc.<sup>(a)</sup> | 7692 | 178608 |
| Progyny, Inc.<sup>(a)</sup> | 5002 | 119398 |
| Quest Diagnostics, Inc. | 7082 | 1324546 |
| RadNet, Inc.<sup>(a)</sup> | 4154 | 291195 |
| Select Medical Holdings Corp. | 7600 | 114380 |
| Strata Critical Medical, Inc.<sup>(a)(b)</sup> | 4235 | 20667 |
| Surgery Partners, Inc.<sup>(a)(b)</sup> | 5815 | 86411 |
| Talkspace, Inc.<sup>(a)(b)</sup> | 11686 | 47211 |
| Tenet Healthcare Corp.<sup>(a)</sup> | 5534 | 1047475 |
| U.S. Physical Therapy, Inc. | 849 | 71206 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** |  |
| UnitedHealth Group, Inc. | 57812 | $16587997 |
| Universal Health Services, Inc., Class B | 3330 | 670196 |
| Viemed Healthcare, Inc.<sup>(a)</sup> | 4262 | 32690 |
|  |  | 66937269 |
| **Health Care REITs — 0.3%** | **Health Care REITs — 0.3%** |  |
| Alexandria Real Estate Equities, Inc. | 10897 | 595412 |
| American Healthcare REIT, Inc. | 10529 | 493915 |
| CareTrust REIT, Inc. | 14251 | 532132 |
| Community Healthcare Trust, Inc. | 961 | 16606 |
| Diversified Healthcare Trust | 14315 | 83170 |
| Global Medical REIT, Inc. | 631 | 21795 |
| Healthcare Realty Trust, Inc. | 20845 | 349988 |
| Healthpeak Properties, Inc. | 44035 | 759163 |
| LTC Properties, Inc. | 2807 | 102371 |
| Medical Properties Trust, Inc. | 30970 | 155469 |
| National Health Investors, Inc. | 2865 | 235274 |
| Omega Healthcare Investors, Inc. | 18450 | 809586 |
| Sabra Health Care REIT, Inc. | 15036 | 281624 |
| Sila Realty Trust, Inc. | 3819 | 92993 |
| Universal Health Realty Income Trust | 517 | 20541 |
| Ventas, Inc. | 29746 | 2310372 |
| Welltower, Inc. | 43685 | 8228507 |
|  |  | 15088918 |
| **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** |  |
| Certara, Inc.<sup>(a)</sup> | 7090 | 62321 |
| Claritev Corp., Class A<sup>(a)(b)</sup> | 746 | 20261 |
| Definitive Healthcare Corp., Class A<sup>(a)</sup> | 2101 | 4874 |
| Doximity, Inc., Class A<sup>(a)</sup> | 8635 | 323553 |
| Evolent Health, Inc., Class A<sup>(a)(b)</sup> | 7059 | 22659 |
| Health Catalyst, Inc.<sup>(a)(b)</sup> | 2795 | 6009 |
| HealthStream, Inc. | 1619 | 36088 |
| HeartFlow, Inc.<sup>(a)</sup> | 1641 | 49017 |
| LifeMD, Inc.<sup>(a)(b)</sup> | 2829 | 9166 |
| OptimizeRx Corp.<sup>(a)</sup> | 814 | 8759 |
| Phreesia, Inc.<sup>(a)</sup> | 3516 | 47220 |
| Schrodinger, Inc.<sup>(a)</sup> | 3581 | 50027 |
| Simulations Plus, Inc.<sup>(a)</sup> | 1116 | 18849 |
| Teladoc Health, Inc.<sup>(a)</sup> | 10028 | 54653 |
| Veeva Systems, Inc., Class A<sup>(a)</sup> | 9378 | 1912362 |
| Waystar Holding Corp.<sup>(a)</sup> | 7493 | 199014 |
|  |  | 2824832 |
| **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** |  |
| Apple Hospitality REIT, Inc. | 14082 | 163914 |
| Braemar Hotels & Resorts, Inc. | 3646 | 9735 |
| Chatham Lodging Trust | 2016 | 14334 |
| DiamondRock Hospitality Co. | 11505 | 105616 |
| Host Hotels & Resorts, Inc. | 43563 | 807222 |
| Park Hotels & Resorts, Inc. | 14578 | 159338 |
| Pebblebrook Hotel Trust | 7963 | 90937 |
| RLJ Lodging Trust | 11744 | 87258 |
| Ryman Hospitality Properties, Inc. | 4030 | 381641 |
| Service Properties Trust | 8692 | 17297 |
| Summit Hotel Properties, Inc. | 5580 | 24664 |
| Sunstone Hotel Investors, Inc. | 9663 | 84745 |
| Xenia Hotels & Resorts, Inc. | 7531 | 111082 |
|  |  | 2057783 |
| **Hotels, Restaurants & Leisure — 1.9%** | **Hotels, Restaurants & Leisure — 1.9%** |  |
| Accel Entertainment, Inc., Class A<sup>(a)</sup> | 4065 | 45975 |
| Airbnb, Inc., Class A<sup>(a)</sup> | 27017 | 3495189 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |  |
| Aramark | 16174 | $622537 |
| Biglari Holdings, Inc., Class B<sup>(a)</sup> | 32 | 12001 |
| BJ's Restaurants, Inc.<sup>(a)</sup> | 1084 | 45333 |
| Bloomin' Brands, Inc. | 5912 | 35472 |
| Booking Holdings, Inc. | 2067 | 10338803 |
| Boyd Gaming Corp. | 3462 | 292677 |
| Brightstar Lottery PLC | 7143 | 103431 |
| Brinker International, Inc.<sup>(a)</sup> | 2784 | 439093 |
| Caesars Entertainment, Inc.<sup>(a)</sup> | 12766 | 264256 |
| Carnival Corp.<sup>(a)</sup> | 68665 | 2061323 |
| Cava Group, Inc.<sup>(a)</sup> | 6141 | 372267 |
| Cheesecake Factory, Inc. | 2767 | 160375 |
| Chipotle Mexican Grill, Inc.<sup>(a)</sup> | 83631 | 3250737 |
| Choice Hotels International, Inc.<sup>(b)</sup> | 1823 | 187404 |
| Churchill Downs, Inc. | 4345 | 427374 |
| Cracker Barrel Old Country Store, Inc.<sup>(b)</sup> | 1446 | 43554 |
| Darden Restaurants, Inc. | 7422 | 1479576 |
| Dave & Buster's Entertainment, Inc.<sup>(a)</sup> | 2569 | 48220 |
| Dine Brands Global, Inc. | 887 | 30504 |
| Domino's Pizza, Inc. | 2038 | 836253 |
| DoorDash, Inc., Class A<sup>(a)</sup> | 22794 | 4664108 |
| DraftKings, Inc., Class A<sup>(a)</sup> | 30531 | 839908 |
| Dutch Bros, Inc., Class A<sup>(a)</sup> | 7195 | 391336 |
| El Pollo Loco Holdings, Inc.<sup>(a)</sup> | 3825 | 38747 |
| Expedia Group, Inc. | 7445 | 1971734 |
| First Watch Restaurant Group, Inc.<sup>(a)</sup> | 3681 | 58859 |
| Flutter Entertainment PLC<sup>(a)(b)</sup> | 10031 | 1656620 |
| Genius Sports Ltd.<sup>(a)</sup> | 15291 | 133032 |
| Global Business Travel Group I<sup>(a)(b)</sup> | 9219 | 63150 |
| Golden Entertainment, Inc. | 891 | 23986 |
| Hilton Grand Vacations, Inc.<sup>(a)</sup> | 3840 | 173222 |
| Hilton Worldwide Holdings, Inc. | 14490 | 4325410 |
| Hyatt Hotels Corp., Class A<sup>(b)</sup> | 2496 | 390300 |
| Inspired Entertainment, Inc.<sup>(a)(b)</sup> | 902 | 8055 |
| Jack in the Box, Inc. | 1529 | 32063 |
| Krispy Kreme, Inc.<sup>(b)</sup> | 6214 | 19574 |
| Kura Sushi USA, Inc., Class A<sup>(a)(b)</sup> | 372 | 24853 |
| Las Vegas Sands Corp. | 19470 | 1026653 |
| Life Time Group Holdings, Inc.<sup>(a)</sup> | 9043 | 263784 |
| Lindblad Expeditions Holdings, Inc.<sup>(a)</sup> | 2077 | 34624 |
| Marriott International, Inc., Class A | 14256 | 4494917 |
| Marriott Vacations Worldwide Corp. | 1695 | 92055 |
| McDonald's Corp. | 45415 | 14305725 |
| MGM Resorts International<sup>(a)(b)</sup> | 12359 | 414521 |
| Monarch Casino & Resort, Inc. | 999 | 91438 |
| Navan, Inc., Class A<sup>(a)(b)</sup> | 3368 | 38665 |
| Norwegian Cruise Line Holdings Ltd.<sup>(a)(b)</sup> | 27867 | 611959 |
| Papa John's International, Inc. | 2240 | 78781 |
| Penn Entertainment, Inc.<sup>(a)</sup> | 9126 | 117178 |
| Planet Fitness, Inc., Class A<sup>(a)</sup> | 5211 | 474409 |
| Portillo's, Inc., Class A<sup>(a)(b)</sup> | 3505 | 19803 |
| Pursuit Attractions and Hospitality, Inc.<sup>(a)</sup> | 1234 | 42857 |
| RCI Hospitality Holdings, Inc. | 626 | 15049 |
| Red Rock Resorts, Inc., Class A | 3220 | 203279 |
| Restaurant Brands International, Inc. | 20554 | 1376912 |
| Royal Caribbean Cruises Ltd. | 16096 | 5225566 |
| Rush Street Interactive, Inc., Class A<sup>(a)</sup> | 6170 | 109024 |
| Sabre Corp.<sup>(a)(b)</sup> | 32773 | 42605 |
| Serve Robotics, Inc.<sup>(a)(b)</sup> | 3647 | 38038 |
| Shake Shack, Inc., Class A<sup>(a)</sup> | 2633 | 233205 |
| Six Flags Entertainment Corp.<sup>(a)</sup> | 6268 | 112887 |
| Starbucks Corp. | 72259 | 6644215 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |  |
| Super Group SGHC Ltd. | 11436 | $108299 |
| Sweetgreen, Inc., Class A<sup>(a)(b)</sup> | 6926 | 42526 |
| Target Hospitality Corp.<sup>(a)</sup> | 2076 | 14304 |
| Texas Roadhouse, Inc. | 4205 | 756311 |
| Travel & Leisure Co. | 4190 | 291373 |
| United Parks & Resorts, Inc.<sup>(a)</sup> | 1575 | 59299 |
| Vail Resorts, Inc. | 2371 | 315509 |
| Viking Holdings Ltd.<sup>(a)</sup> | 10940 | 789321 |
| Wendy's Co. | 10460 | 81483 |
| Wingstop, Inc. | 1856 | 492638 |
| Wyndham Hotels & Resorts, Inc. | 4699 | 342040 |
| Wynn Resorts Ltd. | 4779 | 513504 |
| Xponential Fitness, Inc., Class A<sup>(a)(b)</sup> | 1307 | 10378 |
| Yum! Brands, Inc. | 17708 | 2753594 |
|  |  | 82086039 |
| **Household Durables — 0.4%** | **Household Durables — 0.4%** |  |
| Beazer Homes USA, Inc.<sup>(a)</sup> | 2424 | 52286 |
| Cavco Industries, Inc.<sup>(a)</sup> | 512 | 251914 |
| Century Communities, Inc. | 1627 | 102468 |
| Champion Homes, Inc.<sup>(a)</sup> | 3542 | 277622 |
| Cricut, Inc., Class A | 2865 | 12807 |
| D.R. Horton, Inc. | 16709 | 2486968 |
| Dream Finders Homes, Inc., Class A<sup>(a)</sup> | 1622 | 29829 |
| Ethan Allen Interiors, Inc. | 1903 | 43636 |
| Flexsteel Industries, Inc. | 652 | 26100 |
| Garmin Ltd. | 10354 | 2087781 |
| Green Brick Partners, Inc.<sup>(a)</sup> | 1939 | 134547 |
| Hamilton Beach Brands Holding Co., Class A | 1383 | 26401 |
| Helen of Troy Ltd.<sup>(a)(b)</sup> | 1416 | 23449 |
| Hovnanian Enterprises, Inc., Class A<sup>(a)</sup> | 259 | 29176 |
| Installed Building Products, Inc.<sup>(b)</sup> | 1509 | 434803 |
| KB Home | 4241 | 244027 |
| La-Z-Boy, Inc. | 2410 | 87748 |
| Legacy Housing Corp.<sup>(a)</sup> | 148 | 3071 |
| Leggett & Platt, Inc. | 8651 | 100957 |
| Lennar Corp., B Shares | 827 | 83742 |
| Lennar Corp., Class A | 13032 | 1425049 |
| LGI Homes, Inc.<sup>(a)</sup> | 1213 | 60783 |
| Lovesac Co.<sup>(a)(b)</sup> | 653 | 8698 |
| M/I Homes, Inc.<sup>(a)</sup> | 1640 | 219268 |
| Meritage Homes Corp. | 4608 | 320302 |
| Mohawk Industries, Inc.<sup>(a)</sup> | 3316 | 392548 |
| Newell Brands, Inc. | 29617 | 125872 |
| NVR, Inc.<sup>(a)</sup> | 174 | 1328617 |
| PulteGroup, Inc. | 12339 | 1543486 |
| SharkNinja, Inc.<sup>(a)</sup> | 5378 | 635680 |
| Somnigroup International, Inc. | 12843 | 1128258 |
| Sonos, Inc.<sup>(a)</sup> | 7986 | 114599 |
| Taylor Morrison Home Corp., Class A<sup>(a)</sup> | 5972 | 363993 |
| Toll Brothers, Inc. | 6091 | 880089 |
| TopBuild Corp.<sup>(a)</sup> | 1767 | 827044 |
| Traeger, Inc.<sup>(a)</sup> | 1304 | 1434 |
| Tri Pointe Homes, Inc.<sup>(a)</sup> | 4833 | 161181 |
| Whirlpool Corp. | 3206 | 256448 |
|  |  | 16332681 |
| **Household Products — 0.8%** | **Household Products — 0.8%** |  |
| Central Garden & Pet Co.<sup>(a)</sup> | 682 | 23072 |
| Central Garden & Pet Co., Class A<sup>(a)</sup> | 3323 | 101916 |
| Church & Dwight Co., Inc. | 15266 | 1469353 |
| Clorox Co. | 7739 | 872882 |
| Colgate-Palmolive Co. | 51074 | 4611471 |
| Energizer Holdings, Inc. | 4687 | 102317 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Household Products (continued)** | **Household Products (continued)** |  |
| Kimberly-Clark Corp. | 21111 | $2110889 |
| Oil-Dri Corp. of America | 954 | 57765 |
| Procter & Gamble Co. | 149224 | 22647727 |
| Reynolds Consumer Products, Inc. | 3870 | 89668 |
| Spectrum Brands Holdings, Inc. | 1424 | 90723 |
| WD-40 Co. | 832 | 192383 |
|  |  | 32370166 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |  |
| AES Corp. | 45101 | 660730 |
| Brookfield Renewable Corp. | 8675 | 361227 |
| Clearway Energy, Inc., Class A | 1844 | 62272 |
| Clearway Energy, Inc., Class C | 4921 | 177894 |
| Hallador Energy Co.<sup>(a)</sup> | 1749 | 32339 |
| Montauk Renewables, Inc.<sup>(a)(b)</sup> | 3696 | 6431 |
| Ormat Technologies, Inc. | 3993 | 498885 |
| Talen Energy Corp.<sup>(a)</sup> | 2882 | 1003973 |
| Vistra Corp. | 21493 | 3403417 |
|  |  | 6207168 |
| **Industrial Conglomerates — 0.3%** | **Industrial Conglomerates — 0.3%** |  |
| 3M Co. | 33879 | 5188908 |
| Brookfield Business Corp., Class A<sup>(b)</sup> | 1503 | 53597 |
| Honeywell International, Inc. | 40401 | 9192035 |
|  |  | 14434540 |
| **Industrial REITs — 0.3%** | **Industrial REITs — 0.3%** |  |
| Americold Realty Trust, Inc. | 18877 | 234264 |
| EastGroup Properties, Inc. | 3347 | 607949 |
| First Industrial Realty Trust, Inc. | 8452 | 490469 |
| Industrial Logistics Properties Trust | 2207 | 11763 |
| Innovative Industrial Properties, Inc. | 1807 | 87314 |
| Lineage, Inc. | 4537 | 162016 |
| LXP Industrial Trust | 3678 | 182245 |
| One Liberty Properties, Inc. | 1518 | 32713 |
| Prologis, Inc. | 58930 | 7693901 |
| Rexford Industrial Realty, Inc. | 14809 | 600209 |
| STAG Industrial, Inc. | 11474 | 430390 |
| Terreno Realty Corp. | 6721 | 413610 |
|  |  | 10946843 |
| **Insurance — 1.8%** | **Insurance — 1.8%** |  |
| Aflac, Inc. | 30509 | 3384974 |
| Allstate Corp. | 16764 | 3335868 |
| Ambac Financial Group, Inc.<sup>(a)</sup> | 2001 | 11346 |
| American Coastal Insurance Corp. | 2983 | 32962 |
| American Financial Group, Inc. | 4200 | 547134 |
| American International Group, Inc. | 35186 | 2634728 |
| AMERISAFE, Inc. | 1410 | 53030 |
| Aon PLC, Class A | 13339 | 4663848 |
| Arch Capital Group Ltd.<sup>(a)</sup> | 22660 | 2176266 |
| Arthur J Gallagher & Co. | 16111 | 4017600 |
| Aspen Insurance Holdings Ltd., Class A<sup>(a)(b)</sup> | 1163 | 43415 |
| Assurant, Inc. | 3174 | 755825 |
| Assured Guaranty Ltd. | 2820 | 239277 |
| Axis Capital Holdings Ltd. | 4720 | 487010 |
| Baldwin Insurance Group, Inc., Class A<sup>(a)(b)</sup> | 4318 | 94651 |
| Bowhead Specialty Holdings, Inc.<sup>(a)</sup> | 1535 | 37700 |
| Brighthouse Financial, Inc.<sup>(a)</sup> | 3750 | 240225 |
| Brown & Brown, Inc. | 18346 | 1322747 |
| Chubb Ltd. | 23220 | 7187983 |
| Cincinnati Financial Corp. | 9786 | 1574470 |
| CNA Financial Corp. | 1702 | 81458 |
| CNO Financial Group, Inc. | 6050 | 254402 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** |  |
| Crawford & Co., Class A | 730 | $7920 |
| Employers Holdings, Inc. | 798 | 34809 |
| Everest Group Ltd. | 2609 | 864309 |
| F&G Annuities & Life, Inc. | 2196 | 64760 |
| Fidelis Insurance Holdings Ltd. | 4637 | 88288 |
| Fidelity National Financial, Inc., Class A | 16339 | 888678 |
| First American Financial Corp. | 6362 | 401951 |
| Genworth Financial, Inc., Class A<sup>(a)</sup> | 14065 | 117302 |
| Globe Life, Inc. | 5057 | 709093 |
| Goosehead Insurance, Inc., Class A<sup>(a)</sup> | 1654 | 102283 |
| Greenlight Capital Re Ltd., Class A<sup>(a)</sup> | 1310 | 18170 |
| Hamilton Insurance Group Ltd., Class B<sup>(a)</sup> | 3783 | 104978 |
| Hanover Insurance Group, Inc. | 2331 | 405920 |
| Hartford Insurance Group, Inc. | 17846 | 2410281 |
| HCI Group, Inc. | 694 | 110117 |
| Heritage Insurance Holdings, Inc.<sup>(a)</sup> | 1928 | 50263 |
| Hippo Holdings, Inc.<sup>(a)</sup> | 930 | 27714 |
| Horace Mann Educators Corp. | 2646 | 118567 |
| Investors Title Co. | 51 | 13230 |
| James River Group Holdings, Inc.<sup>(b)</sup> | 3570 | 23955 |
| Kemper Corp. | 4044 | 159374 |
| Kestrel Group Ltd.<sup>(a)</sup> | 760 | 9021 |
| Kinsale Capital Group, Inc. | 1391 | 550669 |
| Lemonade, Inc.<sup>(a)(b)</sup> | 4037 | 350129 |
| Lincoln National Corp. | 11067 | 460498 |
| Loews Corp. | 10704 | 1130021 |
| Markel Group, Inc.<sup>(a)</sup> | 791 | 1614146 |
| Marsh & McLennan Cos., Inc. | 31355 | 5900697 |
| MBIA, Inc.<sup>(a)(b)</sup> | 2769 | 17722 |
| Mercury General Corp. | 1620 | 141896 |
| MetLife, Inc. | 35350 | 2788408 |
| Old Republic International Corp. | 14518 | 568670 |
| Oscar Health, Inc., Class A<sup>(a)</sup> | 12587 | 180623 |
| Palomar Holdings, Inc.<sup>(a)</sup> | 1645 | 203306 |
| Primerica, Inc. | 2050 | 539232 |
| Principal Financial Group, Inc. | 13826 | 1309599 |
| Progressive Corp. | 37229 | 7743632 |
| Prudential Financial, Inc. | 22249 | 2472086 |
| Reinsurance Group of America, Inc. | 4161 | 843643 |
| RenaissanceRe Holdings Ltd. | 2876 | 810169 |
| RLI Corp. | 5332 | 311549 |
| Root, Inc., Class A<sup>(a)</sup> | 829 | 51506 |
| Ryan Specialty Holdings, Inc., Class A | 7076 | 341629 |
| Safety Insurance Group, Inc. | 927 | 72955 |
| Selective Insurance Group, Inc. | 3715 | 312357 |
| Selectquote, Inc.<sup>(a)</sup> | 8469 | 12026 |
| SiriusPoint Ltd.<sup>(a)</sup> | 4652 | 94947 |
| Skyward Specialty Insurance Group, Inc.<sup>(a)</sup> | 1904 | 84956 |
| Slide Insurance Holdings, Inc.<sup>(a)</sup> | 2386 | 41111 |
| Stewart Information Services Corp. | 1779 | 119958 |
| Tiptree, Inc. | 1651 | 29520 |
| Travelers Cos., Inc. | 14140 | 4022971 |
| Trupanion, Inc.<sup>(a)</sup> | 2521 | 80647 |
| United Fire Group, Inc. | 1438 | 51682 |
| Universal Insurance Holdings, Inc. | 1090 | 33190 |
| Unum Group | 10739 | 815842 |
| W.R. Berkley Corp.<sup>(b)</sup> | 18434 | 1264204 |
| White Mountains Insurance Group Ltd.<sup>(b)</sup> | 161 | 329234 |
| Willis Towers Watson PLC | 6080 | 1930218 |
|  |  | 77533550 |
| **Interactive Media & Services — 7.7%** | **Interactive Media & Services — 7.7%** |  |
| Alphabet, Inc., Class A | 369292 | 124820696 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Interactive Media & Services (continued)** | **Interactive Media & Services (continued)** |  |
| Alphabet, Inc., Class C | 300693 | $101793601 |
| Angi, Inc., Class A<sup>(a)(b)</sup> | 2753 | 35734 |
| Bumble, Inc., Class A<sup>(a)</sup> | 6338 | 21232 |
| Cargurus, Inc., Class A<sup>(a)</sup> | 5337 | 172919 |
| Cars.com, Inc.<sup>(a)(b)</sup> | 4460 | 50665 |
| EverQuote, Inc., Class A<sup>(a)(b)</sup> | 2107 | 47829 |
| fuboTV, Inc., Class A<sup>(a)</sup> | 21357 | 47626 |
| Getty Images Holdings, Inc.<sup>(a)</sup> | 12015 | 15740 |
| Grindr, Inc.<sup>(a)</sup> | 2746 | 31085 |
| IAC, Inc.<sup>(a)</sup> | 4083 | 150867 |
| Match Group, Inc. | 15869 | 494319 |
| MediaAlpha, Inc., Class A<sup>(a)</sup> | 3417 | 34956 |
| Meta Platforms, Inc., Class A | 138712 | 99387148 |
| Nextdoor Holdings, Inc.<sup>(a)</sup> | 10985 | 21531 |
| Pinterest, Inc., Class A<sup>(a)</sup> | 37391 | 827463 |
| QuinStreet, Inc.<sup>(a)</sup> | 3026 | 40215 |
| Reddit, Inc., Class A<sup>(a)</sup> | 7890 | 1422330 |
| Rumble, Inc.<sup>(a)(b)</sup> | 5901 | 33577 |
| Shutterstock, Inc. | 1395 | 27691 |
| Teads Holding Co.<sup>(a)(b)</sup> | 4466 | 3006 |
| TripAdvisor, Inc.<sup>(a)(b)</sup> | 7461 | 99157 |
| Trump Media & Technology Group Corp., Class A<sup>(a)(b)</sup> | 10629 | 135839 |
| Webtoon Entertainment, Inc.<sup>(a)(b)</sup> | 2047 | 24748 |
| Yelp, Inc.<sup>(a)</sup> | 4499 | 123183 |
| Ziff Davis, Inc.<sup>(a)</sup> | 3041 | 116227 |
| ZipRecruiter, Inc., Class A<sup>(a)</sup> | 5115 | 12583 |
| ZoomInfo Technologies, Inc., Class A<sup>(a)</sup> | 15209 | 122432 |
|  |  | 330114399 |
| **IT Services — 1.2%** | **IT Services — 1.2%** |  |
| Accenture PLC, Class A | 39770 | 10484963 |
| Akamai Technologies, Inc.<sup>(a)</sup> | 8881 | 862789 |
| Amdocs Ltd. | 6854 | 561617 |
| Applied Digital Corp.<sup>(a)(b)</sup> | 14693 | 497799 |
| ASGN, Inc.<sup>(a)</sup> | 2361 | 122984 |
| Backblaze, Inc., Class A<sup>(a)</sup> | 5118 | 23287 |
| BigBear.ai Holdings, Inc.<sup>(a)(b)</sup> | 28992 | 146120 |
| Cloudflare, Inc., Class A<sup>(a)</sup> | 19916 | 3532103 |
| Cognizant Technology Solutions Corp., Class A | 30710 | 2520063 |
| Commerce.com, Inc., Series 1<sup>(a)</sup> | 4449 | 13881 |
| DigitalOcean Holdings, Inc.<sup>(a)</sup> | 3999 | 220945 |
| DXC Technology Co.<sup>(a)</sup> | 10229 | 147604 |
| EPAM Systems, Inc.<sup>(a)</sup> | 3493 | 728640 |
| Fastly, Inc., Class A<sup>(a)</sup> | 7006 | 64806 |
| Gartner, Inc.<sup>(a)</sup> | 4678 | 980556 |
| Globant SA<sup>(a)(b)</sup> | 2826 | 189003 |
| GoDaddy, Inc., Class A<sup>(a)</sup> | 8524 | 856832 |
| Grid Dynamics Holdings, Inc., Class A<sup>(a)</sup> | 3516 | 29077 |
| Hackett Group, Inc. | 1720 | 31390 |
| Information Services Group, Inc. | 4090 | 22781 |
| International Business Machines Corp. | 59109 | 18128730 |
| Kyndryl Holdings, Inc.<sup>(a)</sup> | 14172 | 325956 |
| MongoDB, Inc., Class A<sup>(a)</sup> | 5010 | 1860363 |
| Okta, Inc., Class A<sup>(a)</sup> | 10624 | 897516 |
| Rackspace Technology, Inc.<sup>(a)(b)</sup> | 2884 | 1764 |
| Snowflake, Inc., Class A<sup>(a)</sup> | 20859 | 4019529 |
| TSS, Inc.<sup>(a)(b)</sup> | 1396 | 14239 |
| Tucows, Inc., Class A<sup>(a)(b)</sup> | 474 | 10532 |
| Twilio, Inc., Class A<sup>(a)</sup> | 8951 | 1078237 |
| Unisys Corp.<sup>(a)</sup> | 3469 | 9123 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **IT Services (continued)** | **IT Services (continued)** |  |
| VeriSign, Inc. | 5287 | $1291244 |
| VTEX, Class A<sup>(a)</sup> | 6014 | 18884 |
|  |  | 49693357 |
| **Leisure Products — 0.1%** | **Leisure Products — 0.1%** |  |
| Acushnet Holdings Corp. | 1776 | 172165 |
| Brunswick Corp. | 4072 | 326656 |
| Callaway Golf Co.<sup>(a)</sup> | 9369 | 134445 |
| Clarus Corp. | 1492 | 5714 |
| Funko, Inc., Class A<sup>(a)</sup> | 2563 | 10406 |
| Hasbro, Inc. | 8336 | 744488 |
| JAKKS Pacific, Inc. | 934 | 17064 |
| Johnson Outdoors, Inc., Class A | 138 | 6264 |
| Latham Group, Inc.<sup>(a)</sup> | 2161 | 13593 |
| Malibu Boats, Inc., Class A<sup>(a)(b)</sup> | 1332 | 43290 |
| MasterCraft Boat Holdings, Inc.<sup>(a)(b)</sup> | 1420 | 30573 |
| Mattel, Inc.<sup>(a)</sup> | 20118 | 420265 |
| Peloton Interactive, Inc., Class A<sup>(a)(b)</sup> | 24496 | 136933 |
| Polaris, Inc. | 3366 | 214885 |
| Smith & Wesson Brands, Inc. | 2956 | 32280 |
| Sturm Ruger & Co., Inc. | 1052 | 38598 |
| YETI Holdings, Inc.<sup>(a)</sup> | 5240 | 239520 |
|  |  | 2587139 |
| **Life Sciences Tools & Services — 0.9%** | **Life Sciences Tools & Services — 0.9%** |  |
| 10X Genomics, Inc., Class A<sup>(a)</sup> | 8120 | 164024 |
| Adaptive Biotechnologies Corp.<sup>(a)</sup> | 10614 | 196359 |
| Agilent Technologies, Inc. | 18102 | 2422953 |
| Avantor, Inc.<sup>(a)</sup> | 41378 | 451848 |
| Azenta, Inc.<sup>(a)</sup> | 2445 | 95062 |
| BioLife Solutions, Inc.<sup>(a)</sup> | 2281 | 49726 |
| Bio-Rad Laboratories, Inc., Class A<sup>(a)</sup> | 1176 | 345391 |
| Bio-Techne Corp. | 9809 | 628659 |
| Bruker Corp.<sup>(b)</sup> | 6223 | 275617 |
| Charles River Laboratories International, Inc.<sup>(a)</sup> | 3099 | 652277 |
| Codexis, Inc.<sup>(a)</sup> | 3610 | 4476 |
| CryoPort, Inc.<sup>(a)</sup> | 2296 | 21835 |
| Cytek Biosciences, Inc.<sup>(a)</sup> | 7712 | 38560 |
| Danaher Corp. | 40004 | 8756475 |
| Fortrea Holdings, Inc.<sup>(a)</sup> | 5591 | 93985 |
| Ginkgo Bioworks Holdings, Inc., Class A<sup>(a)(b)</sup> | 4326 | 38804 |
| Illumina, Inc.<sup>(a)</sup> | 9760 | 1413346 |
| IQVIA Holdings, Inc.<sup>(a)</sup> | 10731 | 2469740 |
| Maravai LifeSciences Holdings, Inc., Class A<sup>(a)</sup> | 6620 | 22243 |
| MaxCyte, Inc.<sup>(a)</sup> | 6350 | 5758 |
| Medpace Holdings, Inc.<sup>(a)</sup> | 1418 | 825957 |
| Mesa Laboratories, Inc. | 342 | 26936 |
| Mettler-Toledo International, Inc.<sup>(a)</sup> | 1306 | 1793451 |
| Niagen Bioscience, Inc.<sup>(a)</sup> | 3449 | 20659 |
| OmniAb, Inc.<sup>(a)(b)</sup> | 10048 | 18287 |
| OmniAb, Inc., 12.50 Earnout Shares<sup>(d)</sup> | 304 |  |
| OmniAb, Inc., 15.00 Earnout Shares<sup>(d)</sup> | 304 |  |
| Pacific Biosciences of California, Inc.<sup>(a)</sup> | 15893 | 35918 |
| Personalis, Inc.<sup>(a)</sup> | 5444 | 51010 |
| Qiagen NV<sup>(b)</sup> | 13292 | 713382 |
| Quanterix Corp.<sup>(a)</sup> | 3192 | 20237 |
| Quantum-Si, Inc., Class A<sup>(a)(b)</sup> | 7468 | 8439 |
| Repligen Corp.<sup>(a)</sup> | 3472 | 518613 |
| Revvity, Inc. | 7373 | 802182 |
| Sotera Health Co.<sup>(a)</sup> | 14247 | 258156 |
| Standard BioTools, Inc.<sup>(a)</sup> | 23888 | 33443 |
| Tempus AI, Inc., Class A<sup>(a)(b)</sup> | 6424 | 384284 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Life Sciences Tools & Services (continued)** | **Life Sciences Tools & Services (continued)** |  |
| Thermo Fisher Scientific, Inc. | 23992 | $13882011 |
| Waters Corp.<sup>(a)</sup> | 3783 | 1402434 |
| West Pharmaceutical Services, Inc. | 4545 | 1050440 |
|  |  | 39992977 |
| **Machinery — 2.0%** | **Machinery — 2.0%** |  |
| 3D Systems Corp.<sup>(a)(b)</sup> | 7065 | 15826 |
| Aebi Schmidt Holding AG<sup>(b)</sup> | 2053 | 30056 |
| AGCO Corp. | 4160 | 471786 |
| Alamo Group, Inc. | 698 | 136326 |
| Albany International Corp., Class A | 2042 | 113311 |
| Alliance Laundry Holdings, Inc.<sup>(a)(b)</sup> | 2977 | 65732 |
| Allison Transmission Holdings, Inc. | 5364 | 583067 |
| Astec Industries, Inc. | 1273 | 62021 |
| Atmus Filtration Technologies, Inc. | 5171 | 299763 |
| Blue Bird Corp.<sup>(a)(b)</sup> | 2169 | 109122 |
| Caterpillar, Inc. | 29417 | 19337559 |
| CECO Environmental Corp.<sup>(a)</sup> | 1773 | 119553 |
| Chart Industries, Inc.<sup>(a)</sup> | 2897 | 600664 |
| CNH Industrial NV | 55128 | 593177 |
| Columbus McKinnon Corp. | 1466 | 30903 |
| Crane Co. | 3125 | 570750 |
| Cummins, Inc. | 8743 | 5060623 |
| Deere & Co. | 15522 | 8195616 |
| Donaldson Co., Inc. | 7376 | 751909 |
| Douglas Dynamics, Inc. | 1306 | 49210 |
| Dover Corp. | 8608 | 1734426 |
| Energy Recovery, Inc.<sup>(a)</sup> | 3940 | 57485 |
| Enerpac Tool Group Corp., Class A | 3599 | 145256 |
| Enpro, Inc. | 1416 | 338113 |
| Esab Corp. | 3616 | 437898 |
| ESCO Technologies, Inc. | 1565 | 357086 |
| Federal Signal Corp. | 3769 | 407391 |
| Flowserve Corp. | 7865 | 614650 |
| Fortive Corp. | 20154 | 1064333 |
| Franklin Electric Co., Inc. | 2440 | 243073 |
| Gates Industrial Corp. PLC<sup>(a)</sup> | 16092 | 370438 |
| Gorman-Rupp Co. | 1213 | 66096 |
| Graco, Inc. | 10547 | 921070 |
| Graham Corp.<sup>(a)</sup> | 870 | 60830 |
| Greenbrier Cos., Inc. | 2191 | 110470 |
| Helios Technologies, Inc. | 1936 | 125414 |
| Hillenbrand, Inc. | 4517 | 144137 |
| Hillman Solutions Corp.<sup>(a)</sup> | 12662 | 118643 |
| Hyster-Yale, Inc., Class A | 682 | 22813 |
| IDEX Corp. | 4894 | 971704 |
| Illinois Tool Works, Inc. | 18409 | 4809535 |
| Ingersoll Rand, Inc. | 25258 | 2174461 |
| ITT, Inc. | 5369 | 978769 |
| JBT Marel Corp. | 3215 | 505752 |
| Kadant, Inc. | 797 | 255869 |
| Kennametal, Inc. | 4869 | 167445 |
| Lincoln Electric Holdings, Inc. | 3405 | 903517 |
| Lindsay Corp. | 692 | 86687 |
| Luxfer Holdings PLC | 2208 | 33429 |
| Manitowoc Co., Inc.<sup>(a)</sup> | 2189 | 28282 |
| Mayville Engineering Co., Inc.<sup>(a)(b)</sup> | 1707 | 33457 |
| Microvast Holdings, Inc.<sup>(a)(b)</sup> | 14073 | 36871 |
| Middleby Corp.<sup>(a)</sup> | 3073 | 452253 |
| Miller Industries, Inc. | 1094 | 44821 |
| Mueller Industries, Inc. | 7078 | 963599 |
| Mueller Water Products, Inc., Class A | 10406 | 281690 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** |  |
| Nordson Corp. | 3380 | $927911 |
| Omega Flex, Inc. | 130 | 4289 |
| Oshkosh Corp. | 3963 | 569959 |
| Otis Worldwide Corp. | 24790 | 2117562 |
| PACCAR, Inc. | 32741 | 4024196 |
| Parker-Hannifin Corp. | 8036 | 7520410 |
| Park-Ohio Holdings Corp. | 1119 | 25245 |
| Pentair PLC | 10391 | 1094900 |
| Proto Labs, Inc.<sup>(a)</sup> | 1922 | 101193 |
| RBC Bearings, Inc.<sup>(a)</sup> | 1969 | 983850 |
| REV Group, Inc. | 3064 | 195790 |
| Richtech Robotics, Inc., Class B<sup>(a)(b)</sup> | 11967 | 42842 |
| Snap-on, Inc. | 3250 | 1189858 |
| SPX Technologies, Inc.<sup>(a)</sup> | 3151 | 656700 |
| Standex International Corp. | 780 | 187200 |
| Stanley Black & Decker, Inc. | 9755 | 767328 |
| Tennant Co. | 1312 | 99830 |
| Terex Corp. | 3788 | 215916 |
| Timken Co. | 4100 | 382079 |
| Titan International, Inc.<sup>(a)</sup> | 2632 | 25109 |
| Toro Co. | 6262 | 572973 |
| Trinity Industries, Inc. | 5760 | 165542 |
| Wabash National Corp. | 3518 | 35637 |
| Watts Water Technologies, Inc., Class A | 1727 | 516908 |
| Westinghouse Air Brake Technologies Corp. | 10772 | 2479068 |
| Worthington Enterprises, Inc. | 1931 | 107306 |
| Xylem, Inc. | 15459 | 2131332 |
|  |  | 84405670 |
| **Marine Transportation — 0.0%** | **Marine Transportation — 0.0%** |  |
| Costamare Bulkers Holdings Ltd.<sup>(a)</sup> | 616 | 10183 |
| Costamare, Inc. | 3080 | 51682 |
| Genco Shipping & Trading Ltd. | 2396 | 50076 |
| Himalaya Shipping Ltd.<sup>(b)</sup> | 1071 | 11631 |
| Kirby Corp.<sup>(a)</sup> | 3546 | 417222 |
| Matson, Inc. | 2099 | 336470 |
| Safe Bulkers, Inc. | 7287 | 41609 |
|  |  | 918873 |
| **Media — 0.2%** | **Media — 0.2%** |  |
| Advantage Solutions, Inc., Class A<sup>(a)(b)</sup> | 3751 | 4051 |
| AMC Networks, Inc., Class A<sup>(a)</sup> | 2229 | 17186 |
| Boston Omaha Corp., Class A<sup>(a)</sup> | 863 | 10537 |
| Cable One, Inc. | 350 | 28346 |
| Charter Communications, Inc., Class A<sup>(a)(b)</sup> | 5311 | 1094703 |
| DoubleVerify Holdings, Inc.<sup>(a)</sup> | 10846 | 117354 |
| EchoStar Corp., Class A<sup>(a)(b)</sup> | 8527 | 965427 |
| Entravision Communications Corp., Class A | 1689 | 5084 |
| EW Scripps Co., Class A<sup>(a)</sup> | 2946 | 9869 |
| Fox Corp., Class A | 13111 | 954219 |
| Fox Corp., Class B | 8564 | 561541 |
| Gray Media, Inc. | 6043 | 27254 |
| Ibotta, Inc., Class A<sup>(a)(b)</sup> | 1173 | 24234 |
| iHeartMedia, Inc., Class A<sup>(a)</sup> | 7236 | 23445 |
| John Wiley & Sons, Inc., Class A | 2734 | 85383 |
| Liberty Broadband Corp., Class A<sup>(a)</sup> | 1051 | 50469 |
| Liberty Broadband Corp., Class C<sup>(a)</sup> | 7749 | 372804 |
| Magnite, Inc.<sup>(a)</sup> | 7546 | 109191 |
| National CineMedia, Inc. | 7897 | 28508 |
| New York Times Co., Class A | 10194 | 747322 |
| News Corp., Class A | 24095 | 651288 |
| News Corp., Class B | 7553 | 234898 |
| Newsmax, Inc., Class B<sup>(a)(b)</sup> | 4492 | 30995 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Media (continued)** | **Media (continued)** |  |
| Nexstar Media Group, Inc., Class A | 1749 | $371453 |
| Nexxen International Ltd.<sup>(a)(b)</sup> | 3975 | 24565 |
| NIQ Global Intelligence PLC<sup>(a)(b)</sup> | 2799 | 47555 |
| Omnicom Group, Inc. | 20340 | 1566994 |
| Optimum Communications, Inc., Class A<sup>(a)(b)</sup> | 18560 | 28397 |
| PubMatic, Inc., Class A<sup>(a)</sup> | 2634 | 19123 |
| Scholastic Corp. | 1648 | 57631 |
| Sinclair, Inc., Class A | 2203 | 31965 |
| Sirius XM Holdings, Inc. | 13128 | 267155 |
| Stagwell, Inc., Class A<sup>(a)</sup> | 3725 | 22387 |
| TechTarget, Inc.<sup>(a)</sup> | 1792 | 9390 |
| TEGNA, Inc. | 11352 | 217504 |
| Thryv Holdings, Inc.<sup>(a)</sup> | 1791 | 8615 |
| Trade Desk, Inc., Class A<sup>(a)</sup> | 28349 | 859825 |
| USA TODAY Co., Inc.<sup>(a)(b)</sup> | 7997 | 47342 |
| Versant Media Group, Inc.<sup>(a)</sup> | 9589 | 312410 |
|  |  | 10046419 |
| **Metals & Mining — 0.7%** | **Metals & Mining — 0.7%** |  |
| Alcoa Corp. | 16782 | 953385 |
| Alpha Metallurgical Resources, Inc.<sup>(a)</sup> | 727 | 152525 |
| American Battery Technology Co.<sup>(a)(b)</sup> | 10833 | 43765 |
| Anglogold Ashanti PLC | 31999 | 2971747 |
| Caledonia Mining Corp. PLC | 1362 | 37373 |
| Century Aluminum Co.<sup>(a)</sup> | 3195 | 144829 |
| Cleveland-Cliffs, Inc.<sup>(a)</sup> | 37204 | 511927 |
| Coeur Mining, Inc.<sup>(a)(b)</sup> | 40263 | 822976 |
| Commercial Metals Co. | 7002 | 538244 |
| Compass Minerals International, Inc.<sup>(a)</sup> | 2480 | 61950 |
| Constellium SE, Class A<sup>(a)</sup> | 9126 | 205061 |
| Critical Metals Corp.<sup>(a)(b)</sup> | 2846 | 37482 |
| Dakota Gold Corp.<sup>(a)(b)</sup> | 6771 | 40558 |
| Ferroglobe PLC | 9697 | 46061 |
| Freeport-McMoRan, Inc. | 90866 | 5472859 |
| Hecla Mining Co. | 39972 | 900169 |
| Idaho Strategic Resources, Inc.<sup>(a)</sup> | 618 | 22285 |
| Ivanhoe Electric, Inc.<sup>(a)</sup> | 6984 | 119357 |
| Kaiser Aluminum Corp. | 1048 | 128506 |
| Lifezone Metals Ltd.<sup>(a)(b)</sup> | 5680 | 30047 |
| Materion Corp. | 1409 | 194836 |
| Metallus, Inc.<sup>(a)</sup> | 2945 | 58753 |
| MP Materials Corp., Class A<sup>(a)(b)</sup> | 8331 | 489613 |
| Newmont Corp. | 69797 | 7841693 |
| NioCorp Developments Ltd.<sup>(a)(b)</sup> | 9432 | 55649 |
| Novagold Resources, Inc.<sup>(a)(b)</sup> | 21286 | 185827 |
| Nucor Corp. | 14592 | 2593290 |
| Olympic Steel, Inc. | 384 | 18467 |
| Perpetua Resources Corp.<sup>(a)(b)</sup> | 5064 | 134804 |
| Ramaco Resources, Inc., Class A<sup>(a)</sup> | 1470 | 28680 |
| Reliance, Inc. | 3293 | 1085043 |
| Royal Gold, Inc.<sup>(b)</sup> | 5206 | 1370792 |
| Ryerson Holding Corp. | 2155 | 60814 |
| Southern Copper Corp. | 5288 | 1006412 |
| SSR Mining, Inc.<sup>(a)</sup> | 12721 | 290420 |
| Steel Dynamics, Inc. | 8694 | 1561182 |
| SunCoke Energy, Inc. | 5143 | 40424 |
| Tredegar Corp.<sup>(a)</sup> | 2663 | 22769 |
| U.S. Antimony Corp.<sup>(a)(b)</sup> | 8002 | 58655 |
| USA Rare Earth, Inc., Class A<sup>(a)(b)</sup> | 5828 | 130664 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Metals & Mining (continued)** | **Metals & Mining (continued)** |  |
| Warrior Met Coal, Inc. | 3308 | $295404 |
| Worthington Steel, Inc. | 1931 | 77684 |
|  |  | 30842981 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.1%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.1%** |  |
| Adamas Trust, Inc. | 4414 | 35312 |
| AGNC Investment Corp. | 68038 | 775633 |
| Angel Oak Mortgage REIT, Inc. | 1604 | 14388 |
| Annaly Capital Management, Inc. | 43419 | 999071 |
| Apollo Commercial Real Estate Finance, Inc. | 11046 | 119407 |
| Arbor Realty Trust, Inc. | 10209 | 78609 |
| Ares Commercial Real Estate Corp. | 2603 | 13562 |
| ARMOUR Residential REIT, Inc. | 8113 | 141166 |
| Blackstone Mortgage Trust, Inc., Class A | 11316 | 217833 |
| BrightSpire Capital, Inc., Class A | 5031 | 30085 |
| Chimera Investment Corp. | 3999 | 49388 |
| Claros Mortgage Trust, Inc.<sup>(a)</sup> | 6855 | 18783 |
| Dynex Capital, Inc. | 9622 | 133553 |
| Ellington Financial, Inc. | 5436 | 69853 |
| Franklin BSP Realty Trust, Inc. | 5397 | 55373 |
| Invesco Mortgage Capital, Inc. | 3079 | 26449 |
| KKR Real Estate Finance Trust, Inc. | 4580 | 37922 |
| Ladder Capital Corp., Class A | 6531 | 71645 |
| MFA Financial, Inc. | 6287 | 60607 |
| Orchid Island Capital, Inc. | 11723 | 91439 |
| PennyMac Mortgage Investment Trust | 5334 | 63101 |
| Ready Capital Corp.<sup>(b)</sup> | 9961 | 21217 |
| Redwood Trust, Inc. | 6308 | 34568 |
| Rithm Capital Corp. | 33875 | 370593 |
| Starwood Property Trust, Inc. | 21347 | 382752 |
| Sunrise Realty Trust, Inc. | 459 | 4315 |
| TPG RE Finance Trust, Inc. | 3418 | 30865 |
| Two Harbors Investment Corp. | 7086 | 81276 |
|  |  | 4028765 |
| **Multi-Utilities — 0.5%** | **Multi-Utilities — 0.5%** |  |
| Ameren Corp. | 17144 | 1770632 |
| Avista Corp. | 4818 | 198935 |
| Black Hills Corp. | 4460 | 325491 |
| CenterPoint Energy, Inc. | 41395 | 1642968 |
| CMS Energy Corp. | 19050 | 1361884 |
| Consolidated Edison, Inc. | 22899 | 2441720 |
| Dominion Energy, Inc. | 54219 | 3262357 |
| DTE Energy Co. | 13163 | 1768844 |
| NiSource, Inc. | 30311 | 1342474 |
| Northwestern Energy Group, Inc. | 3880 | 263297 |
| Public Service Enterprise Group, Inc. | 31724 | 2612789 |
| Sempra | 41470 | 3608305 |
| Unitil Corp. | 767 | 39048 |
| WEC Energy Group, Inc. | 20685 | 2289209 |
|  |  | 22927953 |
| **Office REITs — 0.1%** | **Office REITs — 0.1%** |  |
| Brandywine Realty Trust | 10235 | 28965 |
| BXP, Inc. | 10424 | 674120 |
| COPT Defense Properties | 7249 | 223342 |
| Cousins Properties, Inc. | 10476 | 264414 |
| Douglas Emmett, Inc. | 11576 | 122243 |
| Easterly Government Properties, Inc. | 2498 | 58428 |
| Empire State Realty Trust, Inc., Class A | 7712 | 51131 |
| Highwoods Properties, Inc. | 7001 | 180976 |
| Hudson Pacific Properties, Inc.<sup>(a)</sup> | 3312 | 28549 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Office REITs (continued)** | **Office REITs (continued)** |  |
| Kilroy Realty Corp. | 7474 | $257703 |
| NET Lease Office Properties | 892 | 17403 |
| Peakstone Realty Trust | 1886 | 29459 |
| Piedmont Realty Trust, Inc., Class A | 6483 | 54587 |
| Postal Realty Trust, Inc., Class A | 1151 | 20983 |
| SL Green Realty Corp. | 5014 | 224527 |
| Vornado Realty Trust | 11598 | 369744 |
|  |  | 2606574 |
| **Oil, Gas & Consumable Fuels — 2.9%** | **Oil, Gas & Consumable Fuels — 2.9%** |  |
| Antero Midstream Corp. | 20850 | 392397 |
| Antero Resources Corp.<sup>(a)</sup> | 18215 | 662480 |
| APA Corp. | 22023 | 581627 |
| Ardmore Shipping Corp. | 2633 | 34018 |
| BKV Corp.<sup>(a)(b)</sup> | 1820 | 54145 |
| California Resources Corp. | 5051 | 270229 |
| Calumet, Inc.<sup>(a)</sup> | 4768 | 106851 |
| Centrus Energy Corp., Class A<sup>(a)(b)</sup> | 1066 | 296647 |
| Cheniere Energy, Inc. | 13536 | 2863135 |
| Chevron Corp. | 119023 | 21055169 |
| Chord Energy Corp. | 3652 | 366077 |
| Clean Energy Fuels Corp.<sup>(a)</sup> | 11389 | 25056 |
| CNX Resources Corp.<sup>(a)</sup> | 8773 | 340392 |
| Comstock Resources, Inc.<sup>(a)</sup> | 4604 | 112107 |
| ConocoPhillips | 79453 | 8281386 |
| Core Natural Resources, Inc. | 3361 | 320572 |
| Coterra Energy, Inc. | 47924 | 1382607 |
| Crescent Energy Co., Class A | 17001 | 166100 |
| CVR Energy, Inc.<sup>(a)</sup> | 1753 | 39863 |
| Delek U.S. Holdings, Inc. | 4418 | 130375 |
| Devon Energy Corp. | 38981 | 1567426 |
| DHT Holdings, Inc. | 8078 | 115758 |
| Diamondback Energy, Inc. | 11924 | 1954940 |
| Diversified Energy Co. | 3413 | 45700 |
| Dorian LPG Ltd. | 2259 | 66708 |
| DT Midstream, Inc.<sup>(a)</sup> | 6406 | 807284 |
| Encore Energy Corp.<sup>(a)(b)</sup> | 10541 | 33520 |
| Energy Fuels, Inc./Canada<sup>(a)(b)</sup> | 15151 | 339988 |
| EOG Resources, Inc. | 34719 | 3893042 |
| EQT Corp. | 39483 | 2279354 |
| Excelerate Energy, Inc., Class A | 1997 | 74588 |
| Expand Energy Corp. | 14446 | 1623875 |
| Exxon Mobil Corp. | 268403 | 37952184 |
| FLEX LNG Ltd. | 1825 | 48728 |
| FutureFuel Corp. | 1697 | 5583 |
| Gevo, Inc.<sup>(a)(b)</sup> | 22524 | 44147 |
| Golar LNG Ltd. | 6652 | 270005 |
| Granite Ridge Resources, Inc. | 5252 | 26365 |
| Green Plains, Inc.<sup>(a)</sup> | 5321 | 60979 |
| Gulfport Energy Corp.<sup>(a)</sup> | 980 | 200087 |
| HF Sinclair Corp. | 10087 | 524423 |
| HighPeak Energy, Inc.<sup>(b)</sup> | 727 | 3308 |
| International Seaways, Inc. | 2882 | 171911 |
| Kinder Morgan, Inc. | 123541 | 3766765 |
| Kinetik Holdings, Inc., Class A | 2472 | 101130 |
| Kosmos Energy Ltd.<sup>(a)(b)</sup> | 30237 | 47774 |
| Lightbridge Corp.<sup>(a)(b)</sup> | 2996 | 46093 |
| Magnolia Oil & Gas Corp., Class A | 11033 | 281452 |
| Marathon Petroleum Corp. | 19320 | 3403991 |
| Matador Resources Co. | 7435 | 336359 |
| Murphy Oil Corp. | 9297 | 279747 |
| NACCO Industries, Inc., Class A | 532 | 26190 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |  |
| Navigator Holdings Ltd. | 2844 | $52699 |
| New Fortress Energy, Inc., Class A<sup>(a)(b)</sup> | 4142 | 5509 |
| NextDecade Corp.<sup>(a)(b)</sup> | 8405 | 44462 |
| Nordic American Tankers Ltd. | 13383 | 55673 |
| Northern Oil & Gas, Inc. | 5384 | 134600 |
| Occidental Petroleum Corp. | 44804 | 2033654 |
| ONEOK, Inc. | 39699 | 3143764 |
| Ovintiv, Inc. | 16284 | 707866 |
| Par Pacific Holdings, Inc.<sup>(a)</sup> | 3399 | 128278 |
| PBF Energy, Inc., Class A | 5810 | 194403 |
| Peabody Energy Corp. | 7488 | 264027 |
| Permian Resources Corp., Class A | 44137 | 711930 |
| Phillips 66 | 25602 | 3675423 |
| Range Resources Corp. | 14997 | 567636 |
| REX American Resources Corp.<sup>(a)</sup> | 2152 | 72759 |
| Riley Exploration Permian, Inc. | 425 | 11921 |
| Sable Offshore Corp., Class A<sup>(a)(b)</sup> | 5421 | 52475 |
| SandRidge Energy, Inc. | 1890 | 29957 |
| Scorpio Tankers, Inc. | 3001 | 190924 |
| SFL Corp. Ltd. | 6378 | 56509 |
| SM Energy Co. | 16860 | 328264 |
| Talos Energy, Inc.<sup>(a)</sup> | 7922 | 94430 |
| Targa Resources Corp. | 13493 | 2711823 |
| Teekay Corp. Ltd. | 4449 | 45513 |
| Teekay Tankers Ltd., Class A | 1541 | 99425 |
| Texas Pacific Land Corp.<sup>(b)</sup> | 3665 | 1276739 |
| Uranium Energy Corp.<sup>(a)(b)</sup> | 29611 | 510494 |
| VAALCO Energy, Inc. | 8384 | 43094 |
| Valero Energy Corp. | 19311 | 3503595 |
| Viper Energy, Inc., Class A | 10945 | 463411 |
| Vitesse Energy, Inc. | 1510 | 31650 |
| W&T Offshore, Inc. | 7555 | 16394 |
| Williams Cos., Inc. | 77373 | 5204108 |
| World Kinect Corp. | 4001 | 107667 |
|  |  | 124451713 |
| **Paper & Forest Products — 0.0%** | **Paper & Forest Products — 0.0%** |  |
| Clearwater Paper Corp.<sup>(a)</sup> | 1051 | 17678 |
| Louisiana-Pacific Corp. | 4046 | 338812 |
| Magnera Corp.<sup>(a)</sup> | 3180 | 41562 |
| Sylvamo Corp. | 2521 | 123378 |
|  |  | 521430 |
| **Passenger Airlines — 0.2%** | **Passenger Airlines — 0.2%** |  |
| Alaska Air Group, Inc.<sup>(a)</sup> | 7417 | 377006 |
| Allegiant Travel Co.<sup>(a)</sup> | 932 | 82603 |
| American Airlines Group, Inc.<sup>(a)</sup> | 41220 | 548226 |
| Delta Air Lines, Inc. | 41432 | 2729954 |
| Frontier Group Holdings, Inc.<sup>(a)(b)</sup> | 2715 | 12598 |
| JetBlue Airways Corp.<sup>(a)</sup> | 21282 | 103643 |
| Joby Aviation, Inc.<sup>(a)(b)</sup> | 30066 | 317798 |
| SkyWest, Inc.<sup>(a)</sup> | 2476 | 238983 |
| Southwest Airlines Co. | 29271 | 1390958 |
| Sun Country Airlines Holdings, Inc.<sup>(a)</sup> | 2011 | 35273 |
| United Airlines Holdings, Inc.<sup>(a)</sup> | 20677 | 2115671 |
|  |  | 7952713 |
| **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** |  |
| Beauty Health Co., Class A<sup>(a)(b)</sup> | 6871 | 10306 |
| BellRing Brands, Inc.<sup>(a)</sup> | 8741 | 217389 |
| Coty, Inc., Class A<sup>(a)</sup> | 25648 | 81304 |
| Edgewell Personal Care Co. | 3579 | 69647 |
| elf Beauty, Inc.<sup>(a)</sup> | 3535 | 300440 |
| Estee Lauder Cos., Inc., Class A | 15567 | 1794564 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Personal Care Products (continued)** | **Personal Care Products (continued)** |  |
| Herbalife Ltd.<sup>(a)</sup> | 6918 | $119266 |
| Honest Co., Inc.<sup>(a)(b)</sup> | 9280 | 22921 |
| Interparfums, Inc. | 1217 | 118743 |
| Kenvue, Inc. | 120722 | 2100563 |
| Medifast, Inc.<sup>(a)(b)</sup> | 711 | 8134 |
| Nature's Sunshine Products, Inc.<sup>(a)</sup> | 255 | 6431 |
| Nu Skin Enterprises, Inc., Class A | 3335 | 35384 |
| Olaplex Holdings, Inc.<sup>(a)</sup> | 8979 | 14187 |
| USANA Health Sciences, Inc.<sup>(a)</sup> | 667 | 14474 |
| Waldencast PLC, Class A<sup>(a)(b)</sup> | 3027 | 5479 |
|  |  | 4919232 |
| **Pharmaceuticals — 3.1%** | **Pharmaceuticals — 3.1%** |  |
| Alumis, Inc.<sup>(a)</sup> | 2921 | 71594 |
| Amneal Pharmaceuticals, Inc., Class A<sup>(a)</sup> | 8670 | 118606 |
| Amphastar Pharmaceuticals, Inc.<sup>(a)</sup> | 1929 | 51099 |
| Amylyx Pharmaceuticals, Inc.<sup>(a)</sup> | 6202 | 88627 |
| ANI Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 930 | 76120 |
| Aquestive Therapeutics, Inc.<sup>(a)(b)</sup> | 7440 | 21948 |
| Arvinas, Inc.<sup>(a)</sup> | 4655 | 62284 |
| Atea Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 3928 | 16655 |
| Avadel Pharmaceuticals PLC<sup>(a)</sup> | 6470 | 139428 |
| Axsome Therapeutics, Inc.<sup>(a)</sup> | 2571 | 473707 |
| Bristol-Myers Squibb Co. | 129472 | 7127434 |
| Collegium Pharmaceutical, Inc.<sup>(a)</sup> | 1943 | 89223 |
| Corcept Therapeutics, Inc.<sup>(a)</sup> | 6353 | 253294 |
| CorMedix, Inc.<sup>(a)(b)</sup> | 4992 | 38738 |
| Crinetics Pharmaceuticals, Inc.<sup>(a)</sup> | 5879 | 293597 |
| Definium Therapeutics, Inc.<sup>(a)(b)</sup> | 5931 | 100115 |
| Edgewise Therapeutics, Inc.<sup>(a)</sup> | 4396 | 123747 |
| Elanco Animal Health, Inc.<sup>(a)</sup> | 31802 | 765792 |
| Eli Lilly & Co. | 50896 | 52786786 |
| Enliven Therapeutics, Inc.<sup>(a)</sup> | 2827 | 74774 |
| Esperion Therapeutics, Inc.<sup>(a)</sup> | 15925 | 53986 |
| Eton Pharmaceuticals, Inc.<sup>(a)</sup> | 2925 | 43904 |
| Evolus, Inc.<sup>(a)</sup> | 4724 | 22156 |
| EyePoint Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 5129 | 69344 |
| Fulcrum Therapeutics, Inc.<sup>(a)(b)</sup> | 1951 | 20934 |
| Harmony Biosciences Holdings, Inc.<sup>(a)</sup> | 2403 | 87758 |
| Harrow, Inc.<sup>(a)(b)</sup> | 1688 | 69107 |
| Indivior Pharmaceuticals, Inc.<sup>(a)</sup> | 8197 | 290010 |
| Innoviva, Inc.<sup>(a)</sup> | 4370 | 87400 |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> | 3672 | 604007 |
| Johnson & Johnson | 152884 | 34742889 |
| LENZ Therapeutics, Inc.<sup>(a)(b)</sup> | 1314 | 20787 |
| Ligand Pharmaceuticals, Inc.<sup>(a)</sup> | 1147 | 220339 |
| Liquidia Corp.<sup>(a)(b)</sup> | 3849 | 163159 |
| Maze Therapeutics, Inc.<sup>(a)</sup> | 1815 | 79098 |
| MBX Biosciences, Inc.<sup>(a)</sup> | 1925 | 70936 |
| Merck & Co., Inc. | 160073 | 17651250 |
| Nuvation Bio, Inc., Class A<sup>(a)</sup> | 16108 | 84406 |
| Ocular Therapeutix, Inc.<sup>(a)</sup> | 10818 | 98877 |
| Omeros Corp.<sup>(a)</sup> | 4825 | 56404 |
| Organon & Co. | 17485 | 149322 |
| Pacira BioSciences, Inc.<sup>(a)</sup> | 2757 | 56629 |
| Perrigo Co. PLC | 8973 | 127506 |
| Pfizer, Inc. | 360917 | 9542645 |
| Phathom Pharmaceuticals, Inc.<sup>(a)(b)</sup> | 3139 | 42910 |
| Phibro Animal Health Corp., Class A | 1710 | 68656 |
| Prestige Consumer Healthcare, Inc.<sup>(a)</sup> | 3378 | 217780 |
| Rapport Therapeutics, Inc.<sup>(a)</sup> | 1625 | 43241 |
| Royalty Pharma PLC, Class A | 24441 | 1018701 |
| Septerna, Inc.<sup>(a)</sup> | 1749 | 40822 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |  |
| SIGA Technologies, Inc. | 2502 | $16763 |
| Supernus Pharmaceuticals, Inc.<sup>(a)</sup> | 3326 | 160180 |
| Tarsus Pharmaceuticals, Inc.<sup>(a)</sup> | 2266 | 146248 |
| Terns Pharmaceuticals, Inc.<sup>(a)</sup> | 5702 | 197289 |
| Theravance Biopharma, Inc.<sup>(a)(b)</sup> | 2778 | 52615 |
| Third Harmonic Bio, Inc.<sup>(a)(d)</sup> | 1258 | 38 |
| Trevi Therapeutics, Inc.<sup>(a)</sup> | 6134 | 64223 |
| Viatris, Inc. | 73201 | 958201 |
| WaVe Life Sciences Ltd.<sup>(a)</sup> | 6786 | 87811 |
| Xeris Biopharma Holdings, Inc.<sup>(a)</sup> | 12064 | 88791 |
| Zevra Therapeutics, Inc.<sup>(a)(b)</sup> | 5553 | 49977 |
| Zoetis, Inc., Class A | 28350 | 3538647 |
|  |  | 133979314 |
| **Professional Services — 0.6%** | **Professional Services — 0.6%** |  |
| Alight, Inc., Class A | 30678 | 46937 |
| Amentum Holdings, Inc.<sup>(a)</sup> | 9722 | 347853 |
| Asure Software, Inc.<sup>(a)(b)</sup> | 833 | 8014 |
| Automatic Data Processing, Inc. | 25888 | 6389676 |
| Barrett Business Services, Inc. | 1308 | 49704 |
| BlackSky Technology, Inc., Class A<sup>(a)(b)</sup> | 2704 | 59677 |
| Booz Allen Hamilton Holding Corp., Class A | 7600 | 671992 |
| Broadridge Financial Solutions, Inc. | 7403 | 1459205 |
| CACI International, Inc., Class A<sup>(a)</sup> | 1379 | 855780 |
| CBIZ, Inc.<sup>(a)(b)</sup> | 2985 | 117460 |
| Clarivate PLC<sup>(a)(b)</sup> | 30144 | 79882 |
| Concentrix Corp. | 3231 | 120678 |
| Conduent, Inc.<sup>(a)</sup> | 11206 | 15576 |
| CRA International, Inc. | 456 | 86157 |
| CSG Systems International, Inc. | 1626 | 129674 |
| Dayforce, Inc.<sup>(a)</sup> | 9709 | 672542 |
| Equifax, Inc. | 7751 | 1561051 |
| ExlService Holdings, Inc.<sup>(a)</sup> | 9605 | 376036 |
| Exponent, Inc. | 3516 | 252695 |
| First Advantage Corp.<sup>(a)(b)</sup> | 5027 | 67865 |
| Forrester Research, Inc.<sup>(a)(b)</sup> | 474 | 3844 |
| Franklin Covey Co.<sup>(a)(b)</sup> | 875 | 17824 |
| FTI Consulting, Inc.<sup>(a)</sup> | 1856 | 324188 |
| Genpact Ltd. | 9988 | 440471 |
| Huron Consulting Group, Inc.<sup>(a)(b)</sup> | 1073 | 181337 |
| IBEX Holdings Ltd.<sup>(a)</sup> | 997 | 37088 |
| ICF International, Inc. | 1207 | 112553 |
| Innodata, Inc.<sup>(a)(b)</sup> | 2252 | 124851 |
| Insperity, Inc. | 2314 | 98877 |
| Jacobs Solutions, Inc. | 7562 | 1022836 |
| KBR, Inc. | 7572 | 324157 |
| Kelly Services, Inc., Class A | 1865 | 20123 |
| Kforce, Inc. | 1435 | 50699 |
| Korn Ferry | 3503 | 243353 |
| Legalzoom.com, Inc.<sup>(a)</sup> | 9589 | 85246 |
| Leidos Holdings, Inc. | 8101 | 1525256 |
| ManpowerGroup, Inc. | 2953 | 107283 |
| Maximus, Inc. | 3559 | 336112 |
| Parsons Corp.<sup>(a)</sup> | 3556 | 249133 |
| Paychex, Inc. | 20500 | 2114165 |
| Paycom Software, Inc. | 3175 | 427831 |
| Paylocity Holding Corp.<sup>(a)</sup> | 2941 | 396976 |
| Planet Labs PBC, Class A<sup>(a)(b)</sup> | 14975 | 373926 |
| Resolute Holdings Management, Inc.<sup>(a)(b)</sup> | 240 | 48950 |
| Resources Connection, Inc. | 2633 | 11928 |
| Robert Half, Inc. | 6974 | 241370 |
| Science Applications International Corp. | 2886 | 293679 |
| Spire Global, Inc., Class A<sup>(a)(b)</sup> | 3429 | 39262 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Professional Services (continued)** | **Professional Services (continued)** |  |
| SS&C Technologies Holdings, Inc. | 13291 | $1088400 |
| TIC Solutions, Inc.<sup>(a)(b)</sup> | 10979 | 110888 |
| TransUnion | 12368 | 977319 |
| TriNet Group, Inc. | 2005 | 122786 |
| TrueBlue, Inc.<sup>(a)(b)</sup> | 1967 | 10543 |
| TTEC Holdings, Inc.<sup>(a)</sup> | 1040 | 3318 |
| Upwork, Inc.<sup>(a)</sup> | 7682 | 153871 |
| Verisk Analytics, Inc. | 8891 | 1933437 |
| Verra Mobility Corp., Class A<sup>(a)</sup> | 10289 | 198578 |
| Willdan Group, Inc.<sup>(a)(b)</sup> | 706 | 89097 |
|  |  | 27310009 |
| **Real Estate Management & Development — 0.2%** | **Real Estate Management & Development — 0.2%** |  |
| CBRE Group, Inc., Class A<sup>(a)</sup> | 18890 | 3217534 |
| Compass, Inc., Class A<sup>(a)</sup> | 41177 | 515536 |
| CoStar Group, Inc.<sup>(a)</sup> | 26529 | 1631533 |
| Cushman & Wakefield Ltd.<sup>(a)</sup> | 10268 | 168806 |
| eXp World Holdings, Inc. | 6844 | 61870 |
| Forestar Group, Inc.<sup>(a)</sup> | 1192 | 31016 |
| FRP Holdings, Inc.<sup>(a)</sup> | 372 | 8895 |
| Howard Hughes Holdings, Inc.<sup>(a)(b)</sup> | 2191 | 178917 |
| Jones Lang LaSalle, Inc.<sup>(a)</sup> | 2997 | 1072656 |
| Kennedy-Wilson Holdings, Inc. | 8538 | 84099 |
| Marcus & Millichap, Inc. | 1555 | 42296 |
| Newmark Group, Inc., Class A | 9252 | 164963 |
| RE/MAX Holdings, Inc., Class A<sup>(a)(b)</sup> | 632 | 4917 |
| Real Brokerage, Inc.<sup>(a)</sup> | 8923 | 31587 |
| RMR Group, Inc., Class A | 541 | 8196 |
| Seaport Entertainment Group, Inc.<sup>(a)</sup> | 550 | 10389 |
| St. Joe Co. | 2394 | 158459 |
| Stratus Properties, Inc.<sup>(a)</sup> | 955 | 28335 |
| Tejon Ranch Co.<sup>(a)</sup> | 507 | 8158 |
| Zillow Group, Inc., Class A<sup>(a)</sup> | 2932 | 182488 |
| Zillow Group, Inc., Class C<sup>(a)</sup> | 10271 | 647381 |
|  |  | 8258031 |
| **Residential REITs — 0.2%** | **Residential REITs — 0.2%** |  |
| American Homes 4 Rent, Class A | 21704 | 679769 |
| Apartment Investment and Management Co., Class A | 8722 | 51285 |
| AvalonBay Communities, Inc. | 9034 | 1605071 |
| BRT Apartments Corp. | 1270 | 18656 |
| Camden Property Trust | 6705 | 731180 |
| Centerspace | 916 | 58871 |
| Clipper Realty, Inc. | 393 | 1372 |
| Equity LifeStyle Properties, Inc. | 12071 | 762525 |
| Equity Residential | 24061 | 1499482 |
| Essex Property Trust, Inc. | 4115 | 1036445 |
| Independence Realty Trust, Inc. | 14480 | 241816 |
| Invitation Homes, Inc. | 38870 | 1038995 |
| Mid-America Apartment Communities, Inc. | 7392 | 992746 |
| NexPoint Residential Trust, Inc. | 1405 | 42459 |
| Sun Communities, Inc. | 7780 | 991405 |
| UDR, Inc. | 21207 | 787840 |
| UMH Properties, Inc. | 3850 | 60176 |
| Veris Residential, Inc. | 4759 | 72289 |
|  |  | 10672382 |
| **Retail REITs — 0.3%** | **Retail REITs — 0.3%** |  |
| Acadia Realty Trust | 7485 | 149775 |
| Agree Realty Corp. | 7136 | 515433 |
| Alexander's, Inc. | 94 | 23021 |
| Brixmor Property Group, Inc. | 18707 | 501161 |
| CBL & Associates Properties, Inc. | 1773 | 63473 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Retail REITs (continued)** | **Retail REITs (continued)** |  |
| Curbline Properties Corp. | 6406 | $155345 |
| Federal Realty Investment Trust | 5622 | 568721 |
| Getty Realty Corp. | 3398 | 101464 |
| InvenTrust Properties Corp. | 5089 | 149566 |
| Kimco Realty Corp. | 41757 | 880238 |
| Kite Realty Group Trust | 13877 | 325971 |
| Macerich Co. | 17207 | 325728 |
| NETSTREIT Corp. | 4357 | 82086 |
| NNN REIT, Inc. | 12170 | 507124 |
| Phillips Edison & Co., Inc. | 7940 | 287666 |
| Realty Income Corp. | 58172 | 3557799 |
| Regency Centers Corp. | 11602 | 845438 |
| Saul Centers, Inc. | 796 | 25257 |
| Simon Property Group, Inc. | 20583 | 3937734 |
| SITE Centers Corp. | 3203 | 19602 |
| Tanger, Inc. | 7151 | 233981 |
| Urban Edge Properties | 7999 | 155421 |
| Whitestone REIT | 2512 | 35771 |
|  |  | 13447775 |
| **Semiconductors & Semiconductor Equipment — 13.0%** | **Semiconductors & Semiconductor Equipment — 13.0%** |  |
| ACM Research, Inc., Class A<sup>(a)</sup> | 2930 | 170292 |
| Advanced Micro Devices, Inc.<sup>(a)</sup> | 102312 | 24220320 |
| Aehr Test Systems<sup>(a)(b)</sup> | 1691 | 43357 |
| Allegro MicroSystems, Inc.<sup>(a)</sup> | 7384 | 272543 |
| Alpha & Omega Semiconductor Ltd.<sup>(a)</sup> | 1720 | 38012 |
| Ambarella, Inc.<sup>(a)</sup> | 2327 | 149021 |
| Amkor Technology, Inc. | 7508 | 362862 |
| Analog Devices, Inc. | 31519 | 9798627 |
| Applied Materials, Inc. | 50956 | 16424138 |
| Astera Labs, Inc.<sup>(a)</sup> | 8003 | 1205412 |
| Axcelis Technologies, Inc.<sup>(a)</sup> | 1979 | 174291 |
| Broadcom, Inc. | 293405 | 97205077 |
| CEVA, Inc.<sup>(a)</sup> | 1470 | 31002 |
| Cirrus Logic, Inc.<sup>(a)</sup> | 3208 | 418131 |
| Cohu, Inc.<sup>(a)(b)</sup> | 3237 | 92384 |
| Credo Technology Group Holding Ltd.<sup>(a)(b)</sup> | 9647 | 1208576 |
| Diodes, Inc.<sup>(a)</sup> | 2733 | 161766 |
| Enphase Energy, Inc.<sup>(a)</sup> | 7678 | 283932 |
| Entegris, Inc. | 9522 | 1124263 |
| First Solar, Inc.<sup>(a)</sup> | 6448 | 1454153 |
| FormFactor, Inc.<sup>(a)</sup> | 4805 | 338704 |
| GLOBALFOUNDRIES, Inc.<sup>(a)</sup> | 6396 | 269911 |
| Ichor Holdings Ltd.<sup>(a)</sup> | 2288 | 69418 |
| Impinj, Inc.<sup>(a)</sup> | 1813 | 250375 |
| indie Semiconductor, Inc., Class A<sup>(a)(b)</sup> | 9909 | 40627 |
| Intel Corp.<sup>(a)</sup> | 280331 | 13026982 |
| KLA Corp. | 8359 | 11936150 |
| Kopin Corp.<sup>(a)</sup> | 17377 | 44311 |
| Kulicke & Soffa Industries, Inc. | 3436 | 196986 |
| Lam Research Corp. | 79767 | 18622404 |
| Lattice Semiconductor Corp.<sup>(a)</sup> | 8637 | 695451 |
| MACOM Technology Solutions Holdings, Inc., <br> Class H<sup>(a)</sup><br>| 4019 | 880402 |
| Marvell Technology, Inc. | 54918 | 4334129 |
| MaxLinear, Inc.<sup>(a)</sup> | 4731 | 82083 |
| Microchip Technology, Inc. | 33528 | 2545446 |
| Micron Technology, Inc. | 70984 | 29449842 |
| MKS, Inc. | 4374 | 1029683 |
| Monolithic Power Systems, Inc. | 2940 | 3305001 |
| Navitas Semiconductor Corp.<sup>(a)(b)</sup> | 12505 | 107293 |
| NVE Corp. | 349 | 23554 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Semiconductors & Semiconductor Equipment (continued)** | **Semiconductors & Semiconductor Equipment (continued)** |  |
| NVIDIA Corp. | 1486888 | $284188903 |
| ON Semiconductor Corp.<sup>(a)</sup> | 25952 | 1554265 |
| Onto Innovation, Inc.<sup>(a)</sup> | 3047 | 615646 |
| PDF Solutions, Inc.<sup>(a)</sup> | 1754 | 55865 |
| Penguin Solutions, Inc.<sup>(a)</sup> | 3469 | 66640 |
| Photronics, Inc.<sup>(a)</sup> | 3827 | 132299 |
| Power Integrations, Inc. | 3382 | 155369 |
| Qnity Electronics, Inc. | 13296 | 1278809 |
| Qorvo, Inc.<sup>(a)</sup> | 5170 | 403829 |
| QUALCOMM, Inc. | 68633 | 10404077 |
| Rambus, Inc.<sup>(a)</sup> | 6785 | 772337 |
| Rigetti Computing, Inc.<sup>(a)(b)</sup> | 19427 | 352989 |
| Semtech Corp.<sup>(a)</sup> | 5463 | 435674 |
| Silicon Laboratories, Inc.<sup>(a)</sup> | 1985 | 282763 |
| SiTime Corp.<sup>(a)(b)</sup> | 1354 | 491651 |
| SkyWater Technology, Inc.<sup>(a)</sup> | 811 | 25676 |
| Skyworks Solutions, Inc. | 9749 | 543604 |
| Synaptics, Inc.<sup>(a)</sup> | 2754 | 227233 |
| Teradyne, Inc. | 9948 | 2397965 |
| Texas Instruments, Inc. | 57739 | 12445641 |
| Ultra Clean Holdings, Inc.<sup>(a)</sup> | 2740 | 119683 |
| Universal Display Corp. | 2666 | 306110 |
| Veeco Instruments, Inc.<sup>(a)</sup> | 4264 | 133165 |
|  |  | 559477104 |
| **Software — 8.3%** | **Software — 8.3%** |  |
| 8x8, Inc.<sup>(a)</sup> | 6460 | 10724 |
| A10 Networks, Inc. | 4857 | 84706 |
| ACI Worldwide, Inc.<sup>(a)</sup> | 6881 | 298360 |
| Adeia, Inc. | 7863 | 142242 |
| Adobe, Inc.<sup>(a)</sup> | 26556 | 7787547 |
| Agilysys, Inc.<sup>(a)</sup> | 1744 | 151292 |
| Alarm.com Holdings, Inc.<sup>(a)</sup> | 2898 | 141364 |
| Alkami Technology, Inc.<sup>(a)(b)</sup> | 3958 | 83870 |
| Amplitude, Inc., Class A<sup>(a)(b)</sup> | 6810 | 62448 |
| Appfolio, Inc., Class A<sup>(a)</sup> | 1377 | 261465 |
| Appian Corp., Class A<sup>(a)</sup> | 2774 | 77395 |
| AppLovin Corp., Class A<sup>(a)</sup> | 15147 | 7166197 |
| Arteris, Inc.<sup>(a)(b)</sup> | 1908 | 28639 |
| Asana, Inc., Class A<sup>(a)(b)</sup> | 4988 | 51127 |
| Atlassian Corp., Class A<sup>(a)</sup> | 10536 | 1245145 |
| Aurora Innovation, Inc., Class A<sup>(a)(b)</sup> | 78052 | 327818 |
| Autodesk, Inc.<sup>(a)</sup> | 13535 | 3422595 |
| AvePoint, Inc., Class A<sup>(a)</sup> | 8422 | 97948 |
| Bentley Systems, Inc., Class B | 10566 | 371078 |
| Bill Holdings, Inc.<sup>(a)</sup> | 5427 | 234284 |
| Bit Digital, Inc.<sup>(a)(b)</sup> | 21501 | 43647 |
| Bitdeer Technologies Group, Class A<sup>(a)(b)</sup> | 6565 | 85608 |
| Blackbaud, Inc.<sup>(a)</sup> | 2101 | 112824 |
| BlackLine, Inc.<sup>(a)</sup> | 2902 | 134856 |
| Blend Labs, Inc., Class A<sup>(a)(b)</sup> | 18420 | 43840 |
| Box, Inc., Class A<sup>(a)</sup> | 9468 | 240014 |
| Braze, Inc., Class A<sup>(a)</sup> | 6231 | 129729 |
| C3.ai, Inc., Class A<sup>(a)(b)</sup> | 7563 | 83269 |
| Cadence Design Systems, Inc.<sup>(a)</sup> | 17334 | 5137104 |
| CCC Intelligent Solutions Holdings, Inc.<sup>(a)(b)</sup> | 34769 | 263549 |
| Cerence, Inc.<sup>(a)</sup> | 2169 | 24575 |
| Cipher Mining, Inc.<sup>(a)(b)</sup> | 21654 | 345598 |
| Circle Internet Group, Inc., Class A<sup>(a)(b)</sup> | 3146 | 201124 |
| Cleanspark, Inc.<sup>(a)(b)</sup> | 17985 | 212942 |
| Clear Secure, Inc., Class A | 5118 | 166949 |
| Clearwater Analytics Holdings, Inc., Class A<sup>(a)</sup> | 17016 | 409915 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Software (continued)** | **Software (continued)** |  |
| Commvault Systems, Inc.<sup>(a)</sup> | 2946 | $252472 |
| Confluent, Inc., Class A<sup>(a)</sup> | 18856 | 575862 |
| Consensus Cloud Solutions, Inc.<sup>(a)</sup> | 1250 | 26700 |
| Core Scientific, Inc.<sup>(a)(b)</sup> | 18810 | 338392 |
| Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> | 15709 | 6934031 |
| CS Disco, Inc.<sup>(a)</sup> | 1888 | 11800 |
| Daily Journal Corp.<sup>(a)(b)</sup> | 60 | 35182 |
| Datadog, Inc., Class A<sup>(a)</sup> | 19831 | 2564545 |
| Digimarc Corp.<sup>(a)(b)</sup> | 1006 | 6167 |
| Digital Turbine, Inc.<sup>(a)(b)</sup> | 5723 | 29874 |
| Docusign, Inc.<sup>(a)</sup> | 12759 | 670358 |
| Dolby Laboratories, Inc., Class A | 3672 | 235706 |
| Domo, Inc., Class B<sup>(a)(b)</sup> | 1416 | 8312 |
| Dropbox, Inc., Class A<sup>(a)</sup> | 12374 | 315290 |
| D-Wave Quantum, Inc.<sup>(a)(b)</sup> | 20533 | 435710 |
| Dynatrace, Inc.<sup>(a)</sup> | 18191 | 692895 |
| eGain Corp.<sup>(a)(b)</sup> | 724 | 7435 |
| Elastic NV<sup>(a)</sup> | 5871 | 387075 |
| EverCommerce, Inc.<sup>(a)(b)</sup> | 1361 | 16400 |
| Fair Isaac Corp.<sup>(a)</sup> | 1489 | 2178660 |
| Five9, Inc.<sup>(a)</sup> | 4935 | 87152 |
| Fortinet, Inc.<sup>(a)</sup> | 40423 | 3284773 |
| Freshworks, Inc., Class A<sup>(a)</sup> | 13713 | 147826 |
| Gen Digital, Inc. | 34901 | 837275 |
| Gitlab, Inc., Class A<sup>(a)</sup> | 9320 | 326014 |
| Guidewire Software, Inc.<sup>(a)</sup> | 5359 | 754333 |
| HubSpot, Inc.<sup>(a)</sup> | 3230 | 904400 |
| Hut 8 Corp.<sup>(a)</sup> | 5848 | 326494 |
| I3 Verticals, Inc., Class A<sup>(a)(b)</sup> | 1114 | 24742 |
| Intapp, Inc.<sup>(a)</sup> | 3997 | 135698 |
| InterDigital, Inc. | 1667 | 544176 |
| Intuit, Inc. | 17346 | 8654266 |
| Jamf Holding Corp.<sup>(a)</sup> | 4063 | 53022 |
| Life360, Inc.<sup>(a)(b)</sup> | 1578 | 90404 |
| LiveRamp Holdings, Inc.<sup>(a)</sup> | 3784 | 92140 |
| Manhattan Associates, Inc.<sup>(a)</sup> | 3791 | 572479 |
| MARA Holdings, Inc.<sup>(a)(b)</sup> | 23300 | 221350 |
| Microsoft Corp. | 471173 | 202741030 |
| Mitek Systems, Inc.<sup>(a)(b)</sup> | 2481 | 24860 |
| N-able, Inc.<sup>(a)(b)</sup> | 4241 | 25743 |
| nCino, Inc.<sup>(a)(b)</sup> | 7678 | 163925 |
| NCR Voyix Corp.<sup>(a)</sup> | 10611 | 105261 |
| NextNav, Inc.<sup>(a)</sup> | 5887 | 84537 |
| Nutanix, Inc., Class A<sup>(a)</sup> | 16338 | 642574 |
| ON24, Inc.<sup>(a)</sup> | 1991 | 15868 |
| OneSpan, Inc. | 2737 | 32242 |
| Ooma, Inc.<sup>(a)</sup> | 719 | 8448 |
| Oracle Corp. | 106943 | 17600679 |
| Pagaya Technologies Ltd., Class A<sup>(a)(b)</sup> | 3119 | 60477 |
| PagerDuty, Inc.<sup>(a)</sup> | 5772 | 61183 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> | 138772 | 20342588 |
| Palo Alto Networks, Inc.<sup>(a)</sup> | 42663 | 7550071 |
| PAR Technology Corp.<sup>(a)(b)</sup> | 2535 | 66442 |
| Pegasystems, Inc. | 5766 | 251917 |
| Porch Group, Inc.<sup>(a)(b)</sup> | 5006 | 39497 |
| Procore Technologies, Inc.<sup>(a)</sup> | 7274 | 410908 |
| Progress Software Corp.<sup>(a)</sup> | 2817 | 115272 |
| PTC, Inc.<sup>(a)</sup> | 7575 | 1182685 |
| Q2 Holdings, Inc.<sup>(a)</sup> | 3747 | 229504 |
| Qualys, Inc.<sup>(a)</sup> | 2390 | 315241 |
| Rapid7, Inc.<sup>(a)</sup> | 4301 | 51268 |
| Red Violet, Inc. | 1105 | 50255 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Software (continued)** | **Software (continued)** |  |
| Rezolve AI PLC<sup>(a)(b)</sup> | 9418 | $24298 |
| Rimini Street, Inc.<sup>(a)</sup> | 3501 | 12078 |
| RingCentral, Inc., Class A<sup>(a)</sup> | 5642 | 146015 |
| Riot Platforms, Inc.<sup>(a)(b)</sup> | 22613 | 349823 |
| Roper Technologies, Inc. | 6821 | 2532160 |
| Rubrik, Inc., Class A<sup>(a)</sup> | 8273 | 462874 |
| SailPoint, Inc.<sup>(a)</sup> | 3973 | 62336 |
| Salesforce, Inc. | 59315 | 12591981 |
| Samsara, Inc., Class A<sup>(a)</sup> | 19569 | 548910 |
| Sapiens International Corp. NV<sup>(a)</sup> | 2240 | 97440 |
| SEMrush Holdings, Inc., Class A<sup>(a)(b)</sup> | 3049 | 36253 |
| SentinelOne, Inc., Class A<sup>(a)</sup> | 17735 | 247935 |
| ServiceNow, Inc.<sup>(a)</sup> | 65652 | 7681941 |
| SoundHound AI, Inc., Class A<sup>(a)(b)</sup> | 24578 | 207930 |
| SoundThinking, Inc.<sup>(a)</sup> | 707 | 4935 |
| Sprinklr, Inc., Class A<sup>(a)(b)</sup> | 8010 | 51104 |
| Sprout Social, Inc., Class A<sup>(a)</sup> | 4520 | 40906 |
| SPS Commerce, Inc.<sup>(a)</sup> | 2494 | 222614 |
| Strategy, Inc., Class A<sup>(a)(b)</sup> | 17014 | 2547166 |
| Synopsys, Inc.<sup>(a)</sup> | 11726 | 5453939 |
| Tenable Holdings, Inc.<sup>(a)</sup> | 8614 | 190025 |
| Teradata Corp.<sup>(a)</sup> | 6137 | 175027 |
| Terawulf, Inc.<sup>(a)(b)</sup> | 18484 | 247131 |
| Trimble, Inc.<sup>(a)</sup> | 15077 | 1019205 |
| Tyler Technologies, Inc.<sup>(a)</sup> | 2734 | 1009940 |
| UiPath, Inc., Class A<sup>(a)</sup> | 26584 | 334693 |
| Unity Software, Inc.<sup>(a)</sup> | 20459 | 595357 |
| Varonis Systems, Inc.<sup>(a)</sup> | 7148 | 213296 |
| Vertex, Inc., Class A<sup>(a)</sup> | 4559 | 84569 |
| Viant Technology, Inc., Class A<sup>(a)</sup> | 883 | 10437 |
| Weave Communications, Inc.<sup>(a)</sup> | 1600 | 10400 |
| Workday, Inc., Class A<sup>(a)</sup> | 13669 | 2400686 |
| Workiva, Inc., Class A<sup>(a)</sup> | 3224 | 248313 |
| Xperi, Inc.<sup>(a)(b)</sup> | 2213 | 12526 |
| Yext, Inc.<sup>(a)</sup> | 5854 | 41915 |
| Zeta Global Holdings Corp., Class A<sup>(a)(b)</sup> | 11604 | 215602 |
| Zoom Communications, Inc., Class A<sup>(a)</sup> | 16927 | 1558977 |
| Zscaler, Inc.<sup>(a)</sup> | 6346 | 1269263 |
|  |  | 357593672 |
| **Specialized REITs — 0.7%** | **Specialized REITs — 0.7%** |  |
| American Tower Corp. | 29717 | 5327664 |
| Crown Castle, Inc. | 27563 | 2392744 |
| CubeSmart | 14934 | 560473 |
| Digital Realty Trust, Inc. | 21858 | 3627335 |
| EPR Properties | 5098 | 276515 |
| Equinix, Inc. | 6209 | 5097154 |
| Extra Space Storage, Inc. | 13383 | 1846452 |
| Farmland Partners, Inc. | 2041 | 23696 |
| Four Corners Property Trust, Inc. | 6658 | 164120 |
| Gaming and Leisure Properties, Inc. | 17473 | 781917 |
| Gladstone Land Corp. | 2385 | 26593 |
| Iron Mountain, Inc. | 18638 | 1717119 |
| Lamar Advertising Co., Class A | 5483 | 703524 |
| Millrose Properties, Inc., Class A | 10458 | 311648 |
| National Storage Affiliates Trust | 4998 | 158986 |
| Outfront Media, Inc. | 8862 | 215524 |
| PotlatchDeltic Corp. | 4938 | 206063 |
| Public Storage | 10034 | 2771290 |
| Rayonier, Inc. | 10175 | 231379 |
| Safehold, Inc. | 5180 | 73090 |
| SBA Communications Corp. | 6787 | 1249555 |
| Smartstop Self Storage REIT, Inc. | 2509 | 78883 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Specialized REITs (continued)** | **Specialized REITs (continued)** |  |
| VICI Properties, Inc. | 67862 | $1905565 |
| Weyerhaeuser Co. | 46043 | 1186989 |
|  |  | 30934278 |
| **Specialty Retail — 1.8%** | **Specialty Retail — 1.8%** |  |
| 1-800-Flowers.com, Inc., Class A<sup>(a)(b)</sup> | 1280 | 5530 |
| Abercrombie & Fitch Co., Class A<sup>(a)</sup> | 2782 | 271607 |
| Academy Sports & Outdoors, Inc. | 4486 | 246775 |
| Advance Auto Parts, Inc. | 3773 | 181142 |
| American Eagle Outfitters, Inc. | 10849 | 252890 |
| America's Car-Mart, Inc.<sup>(a)</sup> | 281 | 7227 |
| Arhaus, Inc., Class A<sup>(a)</sup> | 3604 | 36689 |
| Arko Corp., Class A | 6136 | 32582 |
| Asbury Automotive Group, Inc.<sup>(a)</sup> | 1245 | 291965 |
| AutoNation, Inc.<sup>(a)</sup> | 1791 | 367119 |
| AutoZone, Inc.<sup>(a)</sup> | 1061 | 3930252 |
| BARK, Inc., Class A<sup>(a)(b)</sup> | 12225 | 10880 |
| Bath & Body Works, Inc. | 12788 | 278778 |
| Bed Bath and Beyond, Inc.<sup>(a)(b)</sup> | 2560 | 15130 |
| Best Buy Co., Inc. | 12279 | 799363 |
| Boot Barn Holdings, Inc.<sup>(a)</sup> | 1878 | 335185 |
| Buckle, Inc. | 2387 | 112905 |
| Build-A-Bear Workshop, Inc. | 669 | 39926 |
| Burlington Stores, Inc.<sup>(a)</sup> | 3993 | 1181369 |
| Caleres, Inc. | 2081 | 25430 |
| Camping World Holdings, Inc., Class A | 2424 | 31973 |
| CarMax, Inc.<sup>(a)</sup> | 9270 | 412886 |
| Carvana Co., Class A<sup>(a)</sup> | 8588 | 3444733 |
| Chewy, Inc., Class A<sup>(a)</sup> | 14097 | 410364 |
| Designer Brands, Inc., Class A | 3326 | 21087 |
| Dick's Sporting Goods, Inc. | 3982 | 804364 |
| EVgo, Inc., Class A<sup>(a)(b)</sup> | 3628 | 10920 |
| Five Below, Inc.<sup>(a)</sup> | 3521 | 674764 |
| Floor & Decor Holdings, Inc., Class A<sup>(a)</sup> | 7043 | 464556 |
| GameStop Corp., Class A<sup>(a)(b)</sup> | 26440 | 631387 |
| Gap, Inc. | 15061 | 421407 |
| Genesco, Inc.<sup>(a)</sup> | 1043 | 30174 |
| Group 1 Automotive, Inc. | 735 | 260381 |
| Haverty Furniture Cos., Inc. | 1048 | 26535 |
| Home Depot, Inc. | 63255 | 23694690 |
| Lands' End, Inc.<sup>(a)(b)</sup> | 889 | 15789 |
| Lithia Motors, Inc., Class A | 1559 | 504243 |
| Lowe's Cos., Inc. | 35607 | 9509205 |
| MarineMax, Inc.<sup>(a)</sup> | 887 | 23976 |
| Murphy USA, Inc. | 1111 | 469409 |
| National Vision Holdings, Inc.<sup>(a)</sup> | 5351 | 140999 |
| OneWater Marine, Inc., Class A<sup>(a)</sup> | 684 | 9083 |
| O'Reilly Automotive, Inc.<sup>(a)</sup> | 53519 | 5266805 |
| Outdoor Holding Co.<sup>(a)(b)</sup> | 3293 | 5368 |
| Penske Automotive Group, Inc. | 1283 | 201162 |
| Petco Health & Wellness Co., Inc.<sup>(a)(b)</sup> | 5201 | 13991 |
| RealReal, Inc.<sup>(a)(b)</sup> | 6755 | 99096 |
| Revolve Group, Inc., Class A<sup>(a)</sup> | 2911 | 80489 |
| RH<sup>(a)</sup> | 990 | 196842 |
| Ross Stores, Inc. | 20242 | 3818653 |
| Sally Beauty Holdings, Inc.<sup>(a)</sup> | 7155 | 108899 |
| Shoe Carnival, Inc. | 744 | 14181 |
| Signet Jewelers Ltd. | 2786 | 257064 |
| Sleep Number Corp.<sup>(a)(b)</sup> | 1237 | 14399 |
| Sonic Automotive, Inc., Class A | 786 | 47128 |
| Stitch Fix, Inc., Class A<sup>(a)</sup> | 5133 | 24638 |
| ThredUp, Inc., Class A<sup>(a)</sup> | 4885 | 24816 |
| TJX Cos., Inc. | 71060 | 10645499 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Specialty Retail (continued)** | **Specialty Retail (continued)** |  |
| Tractor Supply Co. | 33772 | $1718319 |
| Ulta Beauty, Inc.<sup>(a)</sup> | 2868 | 1856628 |
| Upbound Group, Inc. | 3756 | 70988 |
| Urban Outfitters, Inc.<sup>(a)</sup> | 3678 | 260586 |
| Valvoline, Inc.<sup>(a)</sup> | 7889 | 258128 |
| Victoria's Secret & Co.<sup>(a)(b)</sup> | 4072 | 221965 |
| Warby Parker, Inc., Class A<sup>(a)</sup> | 5648 | 144080 |
| Wayfair, Inc., Class A<sup>(a)(b)</sup> | 6203 | 641948 |
| Williams-Sonoma, Inc. | 7524 | 1539787 |
| Winmark Corp. | 223 | 100504 |
| Zumiez, Inc.<sup>(a)(b)</sup> | 980 | 24118 |
|  |  | 78091750 |
| **Technology Hardware, Storage & Peripherals — 6.0%** | **Technology Hardware, Storage & Peripherals — 6.0%** |  |
| Apple, Inc. | 926202 | 240330895 |
| Corsair Gaming, Inc.<sup>(a)</sup> | 2367 | 12072 |
| Dell Technologies, Inc., Class C | 20237 | 2315922 |
| Diebold Nixdorf, Inc.<sup>(a)</sup> | 1365 | 94199 |
| Eastman Kodak Co.<sup>(a)(b)</sup> | 919 | 6727 |
| GPGI, Inc., Class A<sup>(a)</sup> | 2890 | 68117 |
| Hewlett Packard Enterprise Co. | 83303 | 1792681 |
| HP, Inc. | 59919 | 1164825 |
| Immersion Corp. | 1222 | 8212 |
| IonQ, Inc.<sup>(a)(b)</sup> | 21277 | 850654 |
| NetApp, Inc. | 12693 | 1222971 |
| Pure Storage, Inc., Class A<sup>(a)</sup> | 19730 | 1372024 |
| Quantum Computing, Inc.<sup>(a)(b)</sup> | 13512 | 125256 |
| Sandisk Corp.<sup>(a)</sup> | 8567 | 4936734 |
| Super Micro Computer, Inc.<sup>(a)(b)</sup> | 32590 | 948695 |
| Turtle Beach Corp.<sup>(a)</sup> | 776 | 9281 |
| Western Digital Corp. | 21614 | 5408471 |
| Xerox Holdings Corp. | 8090 | 17717 |
|  |  | 260685453 |
| **Textiles, Apparel & Luxury Goods — 0.3%** | **Textiles, Apparel & Luxury Goods — 0.3%** |  |
| Amer Sports, Inc.<sup>(a)(b)</sup> | 10105 | 370146 |
| Birkenstock Holding PLC<sup>(a)</sup> | 3587 | 135445 |
| Capri Holdings Ltd.<sup>(a)</sup> | 7359 | 166093 |
| Carter's, Inc. | 2358 | 81610 |
| Columbia Sportswear Co. | 2057 | 113711 |
| Crocs, Inc.<sup>(a)</sup> | 3093 | 259565 |
| Deckers Outdoor Corp.<sup>(a)</sup> | 9417 | 1123825 |
| Ermenegildo Zegna NV | 4497 | 39079 |
| Figs, Inc., Class A<sup>(a)</sup> | 5064 | 54742 |
| G-III Apparel Group Ltd. | 2509 | 73639 |
| Kontoor Brands, Inc. | 3741 | 223450 |
| Lululemon Athletica, Inc.<sup>(a)</sup> | 6595 | 1150827 |
| Movado Group, Inc. | 1241 | 28295 |
| NIKE, Inc., Class B | 73506 | 4543406 |
| On Holding AG, Class A<sup>(a)</sup> | 13911 | 629473 |
| Oxford Industries, Inc. | 1115 | 41088 |
| PVH Corp. | 3100 | 193316 |
| Ralph Lauren Corp., Class A | 2411 | 852071 |
| Rocky Brands, Inc. | 309 | 9947 |
| Steven Madden Ltd. | 4857 | 213125 |
| Superior Group of Cos., Inc. | 2443 | 24332 |
| Tapestry, Inc. | 13138 | 1667344 |
| Under Armour, Inc., Class A<sup>(a)</sup> | 11440 | 70585 |
| Under Armour, Inc., Class C<sup>(a)(b)</sup> | 12665 | 76876 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Textiles, Apparel & Luxury Goods (continued)** | **Textiles, Apparel & Luxury Goods (continued)** |  |
| VF Corp. | 22302 | $436896 |
| Wolverine World Wide, Inc. | 6004 | 106391 |
|  |  | 12685277 |
| **Tobacco — 0.6%** | **Tobacco — 0.6%** |  |
| Altria Group, Inc. | 107168 | 6643344 |
| Philip Morris International, Inc. | 98981 | 17761151 |
| Turning Point Brands, Inc. | 992 | 120181 |
| Universal Corp. | 1429 | 80867 |
|  |  | 24605543 |
| **Trading Companies & Distributors — 0.5%** | **Trading Companies & Distributors — 0.5%** |  |
| Air Lease Corp., Class A | 6878 | 444525 |
| Alta Equipment Group, Inc., Class A | 2017 | 13635 |
| Applied Industrial Technologies, Inc. | 2379 | 619515 |
| BlueLinx Holdings, Inc.<sup>(a)</sup> | 421 | 29285 |
| Boise Cascade Co. | 2158 | 174388 |
| Core & Main, Inc., Class A<sup>(a)</sup> | 11962 | 638292 |
| Custom Truck One Source, Inc.<sup>(a)</sup> | 2724 | 17216 |
| Distribution Solutions Group, Inc.<sup>(a)(b)</sup> | 564 | 16012 |
| DNOW, Inc.<sup>(a)</sup> | 13277 | 201678 |
| DXP Enterprises, Inc.<sup>(a)</sup> | 797 | 103650 |
| Fastenal Co. | 72927 | 3162115 |
| Ferguson Enterprises, Inc. | 12135 | 3063602 |
| FTAI Aviation Ltd. | 6471 | 1762183 |
| GATX Corp. | 2196 | 399474 |
| Global Industrial Co. | 1009 | 30835 |
| Herc Holdings, Inc. | 1965 | 281663 |
| Hudson Technologies, Inc.<sup>(a)(b)</sup> | 2482 | 17796 |
| McGrath RentCorp | 1530 | 170886 |
| MSC Industrial Direct Co., Inc., Class A | 2792 | 235477 |
| NPK International, Inc.<sup>(a)</sup> | 4910 | 67807 |
| QXO, Inc.<sup>(a)(b)</sup> | 38808 | 860761 |
| Rush Enterprises, Inc., Class A | 3575 | 229479 |
| Rush Enterprises, Inc., Class B | 598 | 35288 |
| SiteOne Landscape Supply, Inc.<sup>(a)</sup> | 2725 | 391146 |
| Titan Machinery, Inc.<sup>(a)</sup> | 1169 | 19020 |
| Transcat, Inc.<sup>(a)</sup> | 682 | 41131 |
| United Rentals, Inc. | 4032 | 3153266 |
| Watsco, Inc. | 2211 | 854441 |
| WESCO International, Inc. | 3044 | 881025 |
| Willis Lease Finance Corp. | 295 | 53773 |
| WW Grainger, Inc. | 2777 | 2998993 |
| Xometry, Inc., Class A<sup>(a)(b)</sup> | 2667 | 152366 |
|  |  | 21120723 |
| **Water Utilities — 0.1%** | **Water Utilities — 0.1%** |  |
| American States Water Co. | 2476 | 180649 |
| American Water Works Co., Inc. | 12373 | 1597726 |
| California Water Service Group | 3503 | 156584 |
| Consolidated Water Co. Ltd. | 1168 | 44244 |
| Essential Utilities, Inc. | 17581 | 681967 |
| Global Water Resources, Inc. | 881 | 7638 |
| H2O America | 2051 | 106734 |
| Middlesex Water Co. | 1348 | 70608 |
| Pure Cycle Corp.<sup>(a)</sup> | 1623 | 18794 |
| York Water Co. | 673 | 22600 |
|  |  | 2887544 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** |  |
| Gogo, Inc.<sup>(a)</sup> | 3467 | $15914 |
| Millicom International Cellular SA | 6700 | 408901 |
| Spok Holdings, Inc. | 1840 | 25337 |
| Telephone and Data Systems, Inc. | 6742 | 304266 |
| T-Mobile U.S., Inc. | 30613 | 6037190 |
|  |  | 6791608 |
| **Total Common Stocks — 98.1%** <br>**(Cost: $1,838,654,953)** | **Total Common Stocks — 98.1%** <br>**(Cost: $1,838,654,953)** | 4226097335 |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Equity Funds — 1.3%** | **Equity Funds — 1.3%** |  |
| iShares Russell 3000 ETF<sup>(c)</sup> | 139822 | 54903905 |
| **Total Investment Companies — 1.3%** <br>**(Cost: $52,573,114)** | **Total Investment Companies — 1.3%** <br>**(Cost: $52,573,114)** | 54903905 |
| **Rights** | **Rights** | **Rights** |
| **Biotechnology — 0.0%** | **Biotechnology — 0.0%** |  |
| Akero Therapeutics, Inc.<sup>(d)</sup> | 4463 | 2901 |
| Chinook Therapeutics, CVR<sup>(d)</sup> | 4236 | 856 |
| Icosavax, Inc. | 890 | 276 |
| Inhibrx, Inc., CVR<sup>(d)</sup> | 2243 | 3723 |
|  |  | 7756 |
| **Total Rights — 0.0%** <br>**(Cost: $4,635)** | **Total Rights — 0.0%** <br>**(Cost: $4,635)** | 7756 |
| **Total Long-Term Investments — 99.4%** <br>**(Cost: $1,891,232,702)** | **Total Long-Term Investments — 99.4%** <br>**(Cost: $1,891,232,702)** | 4281008996 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.0%** | **Money Market Funds — 2.0%** |  |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 3.82%<sup>(c)(e)(f)</sup><br>| 57177951 | $57206540 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 3.64%<sup>(c)(e)</sup><br>| 28972287 | 28972287 |
| **Total Short-Term Securities — 2.0%** <br>**(Cost: $86,178,464)** | **Total Short-Term Securities — 2.0%** <br>**(Cost: $86,178,464)** | 86178827 |
| **Total Investments — 101.4%** <br>**(Cost: $1,977,411,166)** | **Total Investments — 101.4%** <br>**(Cost: $1,977,411,166)** | 4367187823 |
| **Liabilities in Excess of Other Assets — (1.4)%** | **Liabilities in Excess of Other Assets — (1.4)%** | (58293264)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $4308894559 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

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

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

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

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

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

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the six months ended January 31, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*01/31/26*<br>| *Shares* <br>*Held at* <br>*01/31/26*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $53194904 | $4006526 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $4746 | $364 | $57206540 | 57177951 | $196750 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 12631359 | 16340928 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 28972287 | 28972287 | 371680 | &nbsp;&nbsp; — |
| BlackRock, Inc. | 11406281 |  | &nbsp;&nbsp; (696861)<br>| 88807 | 47658 | 10845885 | 9693 | 106159 | &nbsp;&nbsp; — |
| iShares Russell 3000 ETF | 20365955 | 126084904 | &nbsp;&nbsp; (95247494)<br>| 2268030 | 1432510 | 54903905 | 139822 | 201796 | &nbsp;&nbsp; — |
|  |  |  |  | $2361583 | $1480532 | $151928617 |  | $876385 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<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 collateral investment fees, and other payments to and from borrowers of securities. 

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts  |  |  |  |  |
| E-mini Russell 2000 Index | &nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp;&nbsp;&nbsp; $2493 | &nbsp;&nbsp;&nbsp;&nbsp; $74045 |
| S&P 500 E-Mini Index | &nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/26 | &nbsp;&nbsp;&nbsp;&nbsp; 22987 | &nbsp;&nbsp;&nbsp;&nbsp; 317400 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $391445 |

---

**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* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets — Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts <br>Unrealized appreciation on futures contracts<sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $391445 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $391445 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> 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 period ended January 31, 2026, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from:** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1226218 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1226218 |
| **Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $270615 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $270615 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $17534403 |

---

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 at the measurement date. 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  |  |  |  |  |
| Aerospace & Defense | &nbsp;&nbsp; $103004464 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $103004464 |
| Air Freight & Logistics | &nbsp;&nbsp; 12871050 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12871050 |
| Automobile Components | &nbsp;&nbsp; 4749598 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4749598 |
| Automobiles | &nbsp;&nbsp; 87014719 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 87014719 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Common Stocks (continued) |  |  |  |  |
| Banks | &nbsp;&nbsp; $165794028 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $165794028 |
| Beverages | &nbsp;&nbsp; 41776282 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 41776282 |
| Biotechnology | &nbsp;&nbsp; 96227449 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 96227449 |
| Broadline Retail | &nbsp;&nbsp; 151481326 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 151481326 |
| Building Products | &nbsp;&nbsp; 25502418 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25502418 |
| Capital Markets | &nbsp;&nbsp; 144915048 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 144915048 |
| Chemicals | &nbsp;&nbsp; 46375189 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 46375189 |
| Commercial Services & Supplies | &nbsp;&nbsp; 22993155 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22993155 |
| Communications Equipment | &nbsp;&nbsp; 40308636 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 40308636 |
| Construction & Engineering | &nbsp;&nbsp; 17689417 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17689417 |
| Construction Materials | &nbsp;&nbsp; 11231099 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11231099 |
| Consumer Finance | &nbsp;&nbsp; 28037529 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28037529 |
| Consumer Staples Distribution & Retail | &nbsp;&nbsp; 77454406 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 77454406 |
| Containers & Packaging | &nbsp;&nbsp; 10128108 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10128108 |
| Distributors | &nbsp;&nbsp; 2430868 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2430868 |
| Diversified Consumer Services | &nbsp;&nbsp; 4771000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4771000 |
| Diversified REITs | &nbsp;&nbsp; 1903470 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1903470 |
| Diversified Telecommunication Services | &nbsp;&nbsp; 33343711 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33343711 |
| Electric Utilities | &nbsp;&nbsp; 58341936 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 58341936 |
| Electrical Equipment | &nbsp;&nbsp; 48520009 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 48520009 |
| Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 37856493 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 37856493 |
| Energy Equipment & Services | &nbsp;&nbsp; 16097764 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16097764 |
| Entertainment | &nbsp;&nbsp; 58445508 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 58445508 |
| Financial Services | &nbsp;&nbsp; 143912314 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 143912314 |
| Food Products | &nbsp;&nbsp; 20269608 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20269608 |
| Gas Utilities | &nbsp;&nbsp; 4963368 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4963368 |
| Ground Transportation | &nbsp;&nbsp; 35529414 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35529414 |
| Health Care Equipment & Supplies | &nbsp;&nbsp; 80787504 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 80787504 |
| Health Care Providers & Services | &nbsp;&nbsp; 66937269 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 66937269 |
| Health Care REITs | &nbsp;&nbsp; 15088918 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15088918 |
| Health Care Technology | &nbsp;&nbsp; 2824832 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2824832 |
| Hotel & Resort REITs | &nbsp;&nbsp; 2057783 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2057783 |
| Hotels, Restaurants & Leisure | &nbsp;&nbsp; 82086039 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 82086039 |
| Household Durables | &nbsp;&nbsp; 16332681 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16332681 |
| Household Products | &nbsp;&nbsp; 32370166 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32370166 |
| Independent Power and Renewable Electricity Producers | &nbsp;&nbsp; 6207168 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6207168 |
| Industrial Conglomerates | &nbsp;&nbsp; 14434540 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14434540 |
| Industrial REITs | &nbsp;&nbsp; 10946843 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10946843 |
| Insurance | &nbsp;&nbsp; 77533550 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 77533550 |
| Interactive Media & Services | &nbsp;&nbsp; 330114399 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 330114399 |
| IT Services | &nbsp;&nbsp; 49693357 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 49693357 |
| Leisure Products | &nbsp;&nbsp; 2587139 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2587139 |
| Life Sciences Tools & Services | &nbsp;&nbsp; 39992977 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 39992977 |
| Machinery | &nbsp;&nbsp; 84405670 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 84405670 |
| Marine Transportation | &nbsp;&nbsp; 918873 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 918873 |
| Media | &nbsp;&nbsp; 10046419 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10046419 |
| Metals & Mining | &nbsp;&nbsp; 30842981 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 30842981 |
| Mortgage Real Estate Investment Trusts (REITs) | &nbsp;&nbsp; 4028765 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4028765 |
| Multi-Utilities | &nbsp;&nbsp; 22927953 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22927953 |
| Office REITs | &nbsp;&nbsp; 2606574 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2606574 |
| Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 124451713 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 124451713 |
| Paper & Forest Products | &nbsp;&nbsp; 521430 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 521430 |
| Passenger Airlines | &nbsp;&nbsp; 7952713 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7952713 |
| Personal Care Products | &nbsp;&nbsp; 4919232 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4919232 |
| Pharmaceuticals | &nbsp;&nbsp; 133979276 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp; 133979314 |
| Professional Services | &nbsp;&nbsp; 27310009 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27310009 |
| Real Estate Management & Development | &nbsp;&nbsp; 8258031 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8258031 |
| Residential REITs | &nbsp;&nbsp; 10672382 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10672382 |
| Retail REITs | &nbsp;&nbsp; 13447775 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13447775 |
| Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 559477104 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 559477104 |
| Software | &nbsp;&nbsp; 357540650 | &nbsp;&nbsp;&nbsp;&nbsp; 53022 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 357593672 |
| Specialized REITs | &nbsp;&nbsp; 30934278 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 30934278 |
| Specialty Retail | &nbsp;&nbsp; 78091750 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 78091750 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares Total U.S. Stock Market Index Fund** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Common Stocks (continued) |  |  |  |  |
| Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; $260685453 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $260685453 |
| Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 12685277 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12685277 |
| Tobacco | &nbsp;&nbsp; 24605543 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 24605543 |
| Trading Companies & Distributors | &nbsp;&nbsp; 21120723 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 21120723 |
| Water Utilities | &nbsp;&nbsp; 2887544 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2887544 |
| Wireless Telecommunication Services | &nbsp;&nbsp; 6791608 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6791608 |
| Investment Companies | &nbsp;&nbsp; 54903905 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 54903905 |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 276 | &nbsp;&nbsp;&nbsp;&nbsp; 7480 | &nbsp;&nbsp;&nbsp;&nbsp; 7756 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 86178827 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 86178827 |
|  | &nbsp;&nbsp; $4367127007 | &nbsp;&nbsp;&nbsp;&nbsp; $53298 | &nbsp;&nbsp;&nbsp;&nbsp; $7518 | &nbsp;&nbsp;&nbsp;&nbsp; $4367187823 |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $391445 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $391445 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Statements of Assets and Liabilities (unaudited)

January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares Russell <br>Mid-Cap <br>Index Fund<br>| iShares Russell <br>Small/Mid-Cap <br>Index Fund<br>| iShares Total U.S. <br>Stock Market <br>Index Fund<br>|
| **ASSETS** |  |  |  |
| Investments, at value — unaffiliated<sup>(a)(b)</sup> | $2222317132 | $1130645766 | $4215259206 |
| Investments, at value — affiliated<sup>(c)</sup> | 66966275 | 115822099 | 151928617 |
| Cash | 422443 | 9472 |  |
| Cash pledged for futures contracts | 899000 | 370000 | 1657000 |
| Receivables: |  |  |  |
| Investments sold |  | 2594981 |  |
| Securities lending income — affiliated | 12079 | 49754 | 17424 |
| Capital shares sold | 3650864 | 1596148 | 2632445 |
| Dividends — unaffiliated | 841283 | 254233 | 2470978 |
| Dividends — affiliated | 51989 | 21894 | 89894 |
| Prepaid expenses | 66387 | 72079 | 81815 |
| Total assets | 2295227452 | 1251436426 | 4374137379 |
| **LIABILITIES** |  |  |  |
| Collateral on securities loaned | 37763294 | 95853050 | 57191726 |
| Payables: |  |  |  |
| Investments purchased | 2594227 | 452516 | 5838406 |
| Accounting services fees | 2301 | 2300 | 2300 |
| Capital shares redeemed | 3896001 | 2262752 | 1790969 |
| Custodian fees | 8974 | 32016 | 14986 |
| Investment advisory fees | 37058 | 28764 | 35720 |
| Trustees' and Officer's fees | 3643 | 2636 | 3808 |
| Other accrued expenses | 31031 | 29908 | 35550 |
| Professional fees | 19692 | 19907 | 20059 |
| Service fees | 38037 | 24446 | 63329 |
| Transfer agent fees | 137490 | 49643 | 119339 |
| Variation margin on futures contracts | 107747 | 66208 | 126628 |
| Total liabilities | 44639495 | 98824146 | 65242820 |
| **Commitments and contingent liabilities** |  |  |  |
| NET ASSETS | $2250587957 | $1152612280 | $4308894559 |
| **NET ASSETS CONSIST OF** |  |  |  |
| Paid-in capital | $1409152673 | $872353378 | $1928801366 |
| Accumulated earnings | 841435284 | 280258902 | 2380093193 |
| NET ASSETS | $2250587957 | $1152612280 | $4308894559 |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $1360532572 | $837343330 | $1833503603 |
| <sup>(b)</sup> Securities loaned, at value | $36215778 | $90487436 | $54003724 |
| <sup>(c)</sup> Investments, at cost—affiliated | $66072609 | $114906262 | $143907563 |

---

Statements of Assets and Liabilities

------

Statements of Assets and Liabilities (unaudited) (continued)

January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares Russell <br>Mid-Cap <br>Index Fund<br>| iShares Russell <br>Small/Mid-Cap <br>Index Fund<br>| iShares Total U.S. <br>Stock Market <br>Index Fund<br>|
| **NET ASSET VALUE** |  |  |  |
| **Institutional** |  |  |  |
| Net assets | $189375925 | $158978919 | $215606258 |
| Shares outstanding | 11889393 | 8281318 | 6836391 |
| Net asset value | $15.93 | $19.20 | $31.54 |
| Shares authorized | Unlimited | Unlimited | Unlimited |
| Par value | $0.001 | $0.001 | $0.001 |
| **Investor A** |  |  |  |
| Net assets | $179415442 | $115788738 | $301988192 |
| Shares outstanding | 11320011 | 6043794 | 9590937 |
| Net asset value | $15.85 | $19.16 | $31.49 |
| Shares authorized | Unlimited | Unlimited | Unlimited |
| Par value | $0.001 | $0.001 | $0.001 |
| **Class K** |  |  |  |
| Net assets | $1881796590 | $877844623 | $3791300109 |
| Shares outstanding | 117838294 | 45730026 | 120217129 |
| Net asset value | $15.97 | $19.20 | $31.54 |
| Shares authorized | Unlimited | Unlimited | Unlimited |
| Par value | $0.001 | $0.001 | $0.001 |

---

*See notes to financial statements.*

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Statements of Operations (unaudited)

Six Months Ended January 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares Russell <br>Mid-Cap <br>Index Fund<br>| &nbsp;&nbsp; iShares Russell <br>Small/Mid-Cap <br>Index Fund<br>| &nbsp;&nbsp; iShares Total U.S. <br>Stock Market <br>Index Fund<br>|
| **INVESTMENT INCOME** |  |  |  |
| Dividends — unaffiliated | &nbsp;&nbsp; $17487499 | &nbsp;&nbsp;&nbsp; $7805431 | &nbsp;&nbsp;&nbsp; $26346074 |
| Dividends — affiliated | &nbsp;&nbsp; 371967 | &nbsp;&nbsp;&nbsp; 224041 | &nbsp;&nbsp;&nbsp; 679635 |
| Interest — unaffiliated | &nbsp;&nbsp; 22869 | &nbsp;&nbsp;&nbsp; 20162 | &nbsp;&nbsp;&nbsp; 23693 |
| Securities lending income — affiliated — net | &nbsp;&nbsp; 216279 | &nbsp;&nbsp;&nbsp; 442769 | &nbsp;&nbsp;&nbsp; 196750 |
| Foreign taxes withheld | &nbsp;&nbsp; (24988)<br>| &nbsp;&nbsp;&nbsp; (13917)<br>| &nbsp;&nbsp;&nbsp; (14251)<br>|
| Total investment income | &nbsp;&nbsp; 18073626 | &nbsp;&nbsp;&nbsp; 8478486 | &nbsp;&nbsp;&nbsp; 27231901 |
| EXPENSES |  |  |  |
| Service — class specific | &nbsp;&nbsp; 227911 | &nbsp;&nbsp;&nbsp; 135335 | &nbsp;&nbsp;&nbsp; 382969 |
| Investment advisory | &nbsp;&nbsp; 221278 | &nbsp;&nbsp;&nbsp; 163547 | &nbsp;&nbsp;&nbsp; 219288 |
| Transfer agent — class specific | &nbsp;&nbsp; 159835 | &nbsp;&nbsp;&nbsp; 105336 | &nbsp;&nbsp;&nbsp; 166001 |
| Professional | &nbsp;&nbsp; 52432 | &nbsp;&nbsp;&nbsp; 57278 | &nbsp;&nbsp;&nbsp; 46874 |
| Registration | &nbsp;&nbsp; 36507 | &nbsp;&nbsp;&nbsp; 31900 | &nbsp;&nbsp;&nbsp; 40249 |
| Printing and postage | &nbsp;&nbsp; 18623 | &nbsp;&nbsp;&nbsp; 17398 | &nbsp;&nbsp;&nbsp; 17113 |
| Custodian | &nbsp;&nbsp; 18370 | &nbsp;&nbsp;&nbsp; 48797 | &nbsp;&nbsp;&nbsp; 33466 |
| Trustees and Officer | &nbsp;&nbsp; 11585 | &nbsp;&nbsp;&nbsp; 7403 | &nbsp;&nbsp;&nbsp; 19183 |
| Accounting services | &nbsp;&nbsp; 4557 | &nbsp;&nbsp;&nbsp; 4557 | &nbsp;&nbsp;&nbsp; 4557 |
| Miscellaneous | &nbsp;&nbsp; 17095 | &nbsp;&nbsp;&nbsp; 18402 | &nbsp;&nbsp;&nbsp; 30127 |
| Total expenses excluding interest expense | &nbsp;&nbsp; 768193 | &nbsp;&nbsp;&nbsp; 589953 | &nbsp;&nbsp;&nbsp; 959827 |
| Interest expense — unaffiliated | &nbsp;&nbsp; 3940 | &nbsp;&nbsp;&nbsp; 5326 | &nbsp;&nbsp;&nbsp; 6456 |
| Total expenses | &nbsp;&nbsp; 772133 | &nbsp;&nbsp;&nbsp; 595279 | &nbsp;&nbsp;&nbsp; 966283 |
| Less: |  |  |  |
| fees waived and/or reimbursed by the Manager | &nbsp;&nbsp; (6942)<br>| &nbsp;&nbsp;&nbsp; (3995)<br>| &nbsp;&nbsp;&nbsp; (8300)<br>|
| Transfer agent fees waived and/or reimbursed by the Manager — class specific | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (17430)<br>| &nbsp;&nbsp;&nbsp; (2474)<br>|
| Total expenses after fees waived and/or reimbursed | &nbsp;&nbsp; 765191 | &nbsp;&nbsp;&nbsp; 573854 | &nbsp;&nbsp;&nbsp; 955509 |
| Net investment income | &nbsp;&nbsp; 17308435 | &nbsp;&nbsp;&nbsp; 7904632 | &nbsp;&nbsp;&nbsp; 26276392 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |
| Net realized gain (loss) from: |  |  |  |
| Investments — unaffiliated | &nbsp;&nbsp; (752498)<br>| &nbsp;&nbsp;&nbsp; 1071148 | &nbsp;&nbsp;&nbsp; 40265458 |
| Investments — affiliated | &nbsp;&nbsp; 882330 | &nbsp;&nbsp;&nbsp; 1062900 | &nbsp;&nbsp;&nbsp; 2361583 |
| Futures contracts | &nbsp;&nbsp; 1270064 | &nbsp;&nbsp;&nbsp; 612104 | &nbsp;&nbsp;&nbsp; 1226218 |
|  | &nbsp;&nbsp; 1399896 | &nbsp;&nbsp;&nbsp; 2746152 | &nbsp;&nbsp;&nbsp; 43853259 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |
| Investments — unaffiliated | &nbsp;&nbsp; 124780225 | &nbsp;&nbsp;&nbsp; 136630315 | &nbsp;&nbsp;&nbsp; 343282451 |
| Investments — affiliated | &nbsp;&nbsp; 146898 | &nbsp;&nbsp;&nbsp; 826664 | &nbsp;&nbsp;&nbsp; 1480532 |
| Futures contracts | &nbsp;&nbsp; 258884 | &nbsp;&nbsp;&nbsp; 152730 | &nbsp;&nbsp;&nbsp; 270615 |
|  | &nbsp;&nbsp; 125186007 | &nbsp;&nbsp;&nbsp; 137609709 | &nbsp;&nbsp;&nbsp; 345033598 |
| Net realized and unrealized gain | &nbsp;&nbsp; 126585903 | &nbsp;&nbsp;&nbsp; 140355861 | &nbsp;&nbsp;&nbsp; 388886857 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $143894338 | &nbsp;&nbsp;&nbsp; $148260493 | &nbsp;&nbsp;&nbsp; $415163249 |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares Russell Mid-Cap <br>Index Fund | iShares Russell Mid-Cap <br>Index Fund | iShares Russell Small/Mid-Cap <br>Index Fund | iShares Russell Small/Mid-Cap <br>Index Fund |
|  | Six Months Ended <br>01/31/26 <br>(unaudited)<br>| &nbsp;&nbsp; Year Ended <br>07/31/25<br>| &nbsp;&nbsp; Six Months Ended <br>01/31/26 <br>&nbsp;&nbsp;&nbsp;&nbsp;(unaudited)<br>| &nbsp;&nbsp; Year Ended <br>07/31/25<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $17308435 | &nbsp;&nbsp;&nbsp; $31613395 | &nbsp;&nbsp;&nbsp; $7904632 | &nbsp;&nbsp;&nbsp; $10877034 |
| Net realized gain | &nbsp;&nbsp; 1399896 | &nbsp;&nbsp;&nbsp; 95992399 | &nbsp;&nbsp;&nbsp; 2746152 | &nbsp;&nbsp;&nbsp; 14154852 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 125186007 | &nbsp;&nbsp;&nbsp; 103611839 | &nbsp;&nbsp;&nbsp; 137609709 | &nbsp;&nbsp;&nbsp; 10790069 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 143894338 | &nbsp;&nbsp;&nbsp; 231217633 | &nbsp;&nbsp;&nbsp; 148260493 | &nbsp;&nbsp;&nbsp; 35821955 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Institutional | &nbsp;&nbsp; (9416929)<br>| &nbsp;&nbsp;&nbsp; (11788486)<br>| &nbsp;&nbsp;&nbsp; (3462254)<br>| &nbsp;&nbsp;&nbsp; (3490609)<br>|
| Investor A | &nbsp;&nbsp; (8697233)<br>| &nbsp;&nbsp;&nbsp; (10489960)<br>| &nbsp;&nbsp;&nbsp; (2381563)<br>| &nbsp;&nbsp;&nbsp; (2004437)<br>|
| Class K | &nbsp;&nbsp; (89680876)<br>| &nbsp;&nbsp;&nbsp; (106231761)<br>| &nbsp;&nbsp;&nbsp; (19735114)<br>| &nbsp;&nbsp;&nbsp; (12225787)<br>|
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (107795038)<br>| &nbsp;&nbsp;&nbsp; (128510207)<br>| &nbsp;&nbsp;&nbsp; (25578931)<br>| &nbsp;&nbsp;&nbsp; (17720833)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 53424644 | &nbsp;&nbsp;&nbsp; 62024633 | &nbsp;&nbsp;&nbsp; 35657962 | &nbsp;&nbsp;&nbsp; 376348464 |
| *NET ASSETS* |  |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 89523944 | &nbsp;&nbsp;&nbsp; 164732059 | &nbsp;&nbsp;&nbsp; 158339524 | &nbsp;&nbsp;&nbsp; 394449586 |
| Beginning of period | &nbsp;&nbsp; 2161064013 | &nbsp;&nbsp;&nbsp; 1996331954 | &nbsp;&nbsp;&nbsp; 994272756 | &nbsp;&nbsp;&nbsp; 599823170 |
| End of period | &nbsp;&nbsp; $2250587957 | &nbsp;&nbsp;&nbsp; $2161064013 | &nbsp;&nbsp;&nbsp; $1152612280 | &nbsp;&nbsp;&nbsp; $994272756 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Statements of Changes in Net Assets (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares Total U.S. Stock Market <br>Index Fund | iShares Total U.S. Stock Market <br>Index Fund |
|  | Six Months Ended <br>01/31/26 <br>(unaudited)<br>| &nbsp;&nbsp; Year Ended <br>07/31/25<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |
| **OPERATIONS** |  |  |
| Net investment income | &nbsp;&nbsp; $26276392 | &nbsp;&nbsp;&nbsp; $48195193 |
| Net realized gain (loss) | &nbsp;&nbsp; 43853259 | &nbsp;&nbsp;&nbsp; (1311730)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 345033598 | &nbsp;&nbsp;&nbsp; 514933730 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 415163249 | &nbsp;&nbsp;&nbsp; 561817193 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |
| Institutional | &nbsp;&nbsp; (1198677)<br>| &nbsp;&nbsp;&nbsp; (2358887)<br>|
| Investor A | &nbsp;&nbsp; (1379012)<br>| &nbsp;&nbsp;&nbsp; (3028538)<br>|
| Class K | &nbsp;&nbsp; (23539170)<br>| &nbsp;&nbsp;&nbsp; (45289368)<br>|
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (26116859)<br>| &nbsp;&nbsp;&nbsp; (50676793)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (223763648)<br>| &nbsp;&nbsp;&nbsp; 94204213 |
| *NET ASSETS* |  |  |
| Total increase in net assets | &nbsp;&nbsp; 165282742 | &nbsp;&nbsp;&nbsp; 605344613 |
| Beginning of period | &nbsp;&nbsp; 4143611817 | &nbsp;&nbsp;&nbsp; 3538267204 |
| End of period | &nbsp;&nbsp; $4308894559 | &nbsp;&nbsp;&nbsp; $4143611817 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | iShares Russell Mid-Cap Index Fund | iShares Russell Mid-Cap Index Fund | iShares Russell Mid-Cap Index Fund | iShares Russell Mid-Cap Index Fund | iShares Russell Mid-Cap Index Fund | iShares Russell Mid-Cap Index Fund |
|  | Institutional | Institutional | Institutional | Institutional | Institutional | Institutional |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| **Net asset value, beginning of period** | &nbsp;&nbsp; $15.69 | &nbsp;&nbsp;&nbsp; $14.92 | &nbsp;&nbsp;&nbsp; $13.54 | &nbsp;&nbsp;&nbsp; $12.89 | &nbsp;&nbsp;&nbsp; $14.91 | &nbsp;&nbsp;&nbsp; $10.75 |
| Net investment income<sup>(a)</sup> | 0.12 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 |
| Net realized and unrealized gain (loss) | 0.92 | &nbsp;&nbsp;&nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp; (1.58)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.35 |
| Net increase (decrease) from investment operations | 1.04 | &nbsp;&nbsp;&nbsp;&nbsp;1.74 | &nbsp;&nbsp;&nbsp;&nbsp;1.80 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp; (1.40)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.50 |
| **Distributions**<sup>(b)</sup> <br>|  |  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp;&nbsp; (0.15)<br>|
| From net realized gain | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>|
| Total distributions | &nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp;&nbsp; (0.34)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $15.93 | &nbsp;&nbsp;&nbsp; $15.69 | &nbsp;&nbsp;&nbsp; $14.92 | &nbsp;&nbsp;&nbsp; $13.54 | &nbsp;&nbsp;&nbsp; $12.89 | &nbsp;&nbsp;&nbsp; $14.91 |
| **Total Return**<sup>(c)</sup> <br>|  |  |  |  |  |  |
| Based on net asset value | 6.78 %<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 11.85<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.63<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.72<br> %<br>| &nbsp;&nbsp;&nbsp; (9.76)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 42.43<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |  |
| Total expenses | 0.09 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>|
| Total expenses after fees waived and/or reimbursed | 0.09 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>|
| Net investment income | 1.55 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.53<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.55<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.59<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.28<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.18<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $189376 | &nbsp;&nbsp;&nbsp; $188544 | &nbsp;&nbsp;&nbsp; $216980 | &nbsp;&nbsp;&nbsp; $178582 | &nbsp;&nbsp;&nbsp; $216281 | &nbsp;&nbsp;&nbsp; $195340 |
| Portfolio turnover rate | &nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 26<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 28<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

<sup>(c)</sup> Where applicable, assumes the reinvestment of distributions.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

<sup>(f)</sup> Annualized.

*See notes to financial statements.*

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Financial Highlights (continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) |
|  | Investor A | Investor A | Investor A | Investor A | Investor A | Investor A |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| **Net asset value, beginning of period** | &nbsp;&nbsp; $15.62 | &nbsp;&nbsp;&nbsp; $14.85 | &nbsp;&nbsp;&nbsp; $13.48 | &nbsp;&nbsp;&nbsp; $12.84 | &nbsp;&nbsp;&nbsp; $14.85 | &nbsp;&nbsp;&nbsp; $10.71 |
| Net investment income<sup>(a)</sup> | 0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 |
| Net realized and unrealized gain (loss) | 0.91 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp; (1.56)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.34 |
| Net increase (decrease) from investment operations | 1.01 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.45 |
| **Distributions**<sup>(b)</sup> <br>|  |  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.11)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp;&nbsp; (0.12)<br>|
| From net realized gain | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>|
| Total distributions | &nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp;&nbsp; (0.94)<br>| &nbsp;&nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp;&nbsp; (0.40)<br>| &nbsp;&nbsp;&nbsp; (0.59)<br>| &nbsp;&nbsp;&nbsp; (0.31)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $15.85 | &nbsp;&nbsp;&nbsp; $15.62 | &nbsp;&nbsp;&nbsp; $14.85 | &nbsp;&nbsp;&nbsp; $13.48 | &nbsp;&nbsp;&nbsp; $12.84 | &nbsp;&nbsp;&nbsp; $14.85 |
| **Total Return**<sup>(c)</sup> <br>|  |  |  |  |  |  |
| Based on net asset value | 6.60 %<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 11.62<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.31<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.39<br> %<br>| &nbsp;&nbsp;&nbsp; (9.98)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 42.05<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |  |
| Total expenses<sup>(f)</sup> | 0.35 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.37<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>|
| Total expenses after fees waived and/or reimbursed | 0.35 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.37<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>|
| Net investment income | 1.29 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.26<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.87<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $179415 | &nbsp;&nbsp;&nbsp; $182825 | &nbsp;&nbsp;&nbsp; $166161 | &nbsp;&nbsp;&nbsp; $151708 | &nbsp;&nbsp;&nbsp; $131260 | &nbsp;&nbsp;&nbsp; $136579 |
| Portfolio turnover rate | &nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 26<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 28<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

<sup>(c)</sup> Where applicable, assumes the reinvestment of distributions.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

<sup>(f)</sup> 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| Expense ratios | &nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(g)</sup> Annualized.

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights (continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) | iShares Russell Mid-Cap Index Fund (continued) |
|  | Class K | Class K | Class K | Class K | Class K | Class K |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| **Net asset value, beginning of period** | &nbsp;&nbsp; $15.73 | &nbsp;&nbsp;&nbsp; $14.95 | &nbsp;&nbsp;&nbsp; $13.57 | &nbsp;&nbsp;&nbsp; $12.92 | &nbsp;&nbsp;&nbsp; $14.94 | &nbsp;&nbsp;&nbsp; $10.77 |
| Net investment income<sup>(a)</sup> | 0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 |
| Net realized and unrealized gain (loss) | 0.91 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;1.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp; (1.58)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.37 |
| Net increase (decrease) from investment operations | 1.04 | &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp;&nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp; (1.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.52 |
| **Distributions**<sup>(b)</sup> <br>|  |  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.13)<br>| &nbsp;&nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp;&nbsp; (0.16)<br>|
| From net realized gain | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>|
| Total distributions | &nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp;&nbsp; (0.98)<br>| &nbsp;&nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $15.97 | &nbsp;&nbsp;&nbsp; $15.73 | &nbsp;&nbsp;&nbsp; $14.95 | &nbsp;&nbsp;&nbsp; $13.57 | &nbsp;&nbsp;&nbsp; $12.92 | &nbsp;&nbsp;&nbsp; $14.94 |
| **Total Return**<sup>(c)</sup> <br>|  |  |  |  |  |  |
| Based on net asset value | 6.79 %<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 11.95<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.66<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.75<br> %<br>| &nbsp;&nbsp;&nbsp; (9.70)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 42.50<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |  |
| Total expenses<sup>(f)</sup> | 0.04 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>|
| Total expenses after fees waived and/or reimbursed | 0.04 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>|
| Net investment income | 1.59 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.58<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.61<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.62<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.18<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $1881797 | &nbsp;&nbsp;&nbsp; $1789695 | &nbsp;&nbsp;&nbsp; $1613191 | &nbsp;&nbsp;&nbsp; $1388660 | &nbsp;&nbsp;&nbsp; $1340100 | &nbsp;&nbsp;&nbsp; $1396125 |
| Portfolio turnover rate | &nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 26<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 28<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

<sup>(c)</sup> Where applicable, assumes the reinvestment of distributions.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

<sup>(f)</sup> 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| Expense ratios | &nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(g)</sup> Annualized.

*See notes to financial statements.*

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Financial Highlights (continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | iShares Russell Small/Mid-Cap Index Fund | iShares Russell Small/Mid-Cap Index Fund | iShares Russell Small/Mid-Cap Index Fund | iShares Russell Small/Mid-Cap Index Fund | iShares Russell Small/Mid-Cap Index Fund | iShares Russell Small/Mid-Cap Index Fund |
|  | Institutional | Institutional | Institutional | Institutional | Institutional | Institutional |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| **Net asset value, beginning of period** | &nbsp;&nbsp; $17.12 | &nbsp;&nbsp;&nbsp; $16.79 | &nbsp;&nbsp;&nbsp; $15.08 | &nbsp;&nbsp;&nbsp; $14.63 | &nbsp;&nbsp;&nbsp; $17.32 | &nbsp;&nbsp;&nbsp; $12.17 |
| Net investment income<sup>(a)</sup> | 0.13 | &nbsp;&nbsp;&nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.16 |
| Net realized and unrealized gain (loss) | 2.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.66 |
| Net increase (decrease) from investment operations | 2.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;1.92 | &nbsp;&nbsp;&nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp; (1.87)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.82 |
| **Distributions**<sup>(b)</sup> <br>|  |  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (0.23)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp;&nbsp; (0.18)<br>|
| From net realized gain | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>|
| Total distributions | &nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (0.65)<br>| &nbsp;&nbsp;&nbsp; (0.82)<br>| &nbsp;&nbsp;&nbsp; (0.67)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $19.20 | &nbsp;&nbsp;&nbsp; $17.12 | &nbsp;&nbsp;&nbsp; $16.79 | &nbsp;&nbsp;&nbsp; $15.08 | &nbsp;&nbsp;&nbsp; $14.63 | &nbsp;&nbsp;&nbsp; $17.32 |
| **Total Return**<sup>(c)</sup> <br>|  |  |  |  |  |  |
| Based on net asset value | 14.81 %<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.19<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.02<br> %<br>| &nbsp;&nbsp;&nbsp; (11.32)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48.81<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |  |
| Total expenses<sup>(f)</sup> | 0.12 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.12<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.14<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.13<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.14<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16<br> %<br>|
| Total expenses after fees waived and/or reimbursed | 0.12 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.11<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.13<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.12<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.12<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.12<br> %<br>|
| Net investment income | 1.44 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.59<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.02<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $158979 | &nbsp;&nbsp;&nbsp; $149291 | &nbsp;&nbsp;&nbsp; $165272 | &nbsp;&nbsp;&nbsp; $141351 | &nbsp;&nbsp;&nbsp; $156524 | &nbsp;&nbsp;&nbsp; $161409 |
| Portfolio turnover rate | &nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp; 36<br> %<br>| &nbsp;&nbsp;&nbsp; 43<br> %<br>| &nbsp;&nbsp;&nbsp; 30<br> %<br>| &nbsp;&nbsp;&nbsp; 38<br> %<br>| &nbsp;&nbsp;&nbsp; 43<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

<sup>(c)</sup> Where applicable, assumes the reinvestment of distributions.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

<sup>(f)</sup> 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| Expense ratios | &nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; 0.14<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(g)</sup> Annualized.

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights (continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) |
|  | Investor A | Investor A | Investor A | Investor A | Investor A | Investor A |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| **Net asset value, beginning of period** | &nbsp;&nbsp; $17.09 | &nbsp;&nbsp;&nbsp; $16.75 | &nbsp;&nbsp;&nbsp; $15.05 | &nbsp;&nbsp;&nbsp; $14.60 | &nbsp;&nbsp;&nbsp; $17.29 | &nbsp;&nbsp;&nbsp; $12.15 |
| Net investment income<sup>(a)</sup> | 0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;0.13 |
| Net realized and unrealized gain (loss) | 2.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;1.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp; (2.08)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.65 |
| Net increase (decrease) from investment operations | 2.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.87 | &nbsp;&nbsp;&nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp; (1.91)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.78 |
| **Distributions**<sup>(b)</sup> <br>|  |  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp;&nbsp; (0.15)<br>|
| From net realized gain | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>|
| Total distributions | &nbsp;&nbsp; (0.41)<br>| &nbsp;&nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp;&nbsp; (0.62)<br>| &nbsp;&nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp;&nbsp; (0.64)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $19.16 | &nbsp;&nbsp;&nbsp; $17.09 | &nbsp;&nbsp;&nbsp; $16.75 | &nbsp;&nbsp;&nbsp; $15.05 | &nbsp;&nbsp;&nbsp; $14.60 | &nbsp;&nbsp;&nbsp; $17.29 |
| **Total Return**<sup>(c)</sup> <br>|  |  |  |  |  |  |
| Based on net asset value | 14.63 %<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.99<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.57<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.76<br> %<br>| &nbsp;&nbsp;&nbsp; (11.56)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48.49<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |  |
| Total expenses | 0.38 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>|
| Total expenses after fees waived and/or reimbursed | 0.37 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.37<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.37<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.34<br> %<br>|
| Net investment income | 1.19 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.14<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.83<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $115789 | &nbsp;&nbsp;&nbsp; $102078 | &nbsp;&nbsp;&nbsp; $104303 | &nbsp;&nbsp;&nbsp; $100293 | &nbsp;&nbsp;&nbsp; $100734 | &nbsp;&nbsp;&nbsp; $101139 |
| Portfolio turnover rate | &nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp; 36<br> %<br>| &nbsp;&nbsp;&nbsp; 43<br> %<br>| &nbsp;&nbsp;&nbsp; 30<br> %<br>| &nbsp;&nbsp;&nbsp; 38<br> %<br>| &nbsp;&nbsp;&nbsp; 43<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

<sup>(c)</sup> Where applicable, assumes the reinvestment of distributions.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

<sup>(f)</sup> Annualized.

*See notes to financial statements.*

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Financial Highlights (continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) | iShares Russell Small/Mid-Cap Index Fund (continued) |
|  | Class K | Class K | Class K | Class K | Class K | Class K |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| **Net asset value, beginning of period** | &nbsp;&nbsp; $17.12 | &nbsp;&nbsp;&nbsp; $16.79 | &nbsp;&nbsp;&nbsp; $15.08 | &nbsp;&nbsp;&nbsp; $14.63 | &nbsp;&nbsp;&nbsp; $17.32 | &nbsp;&nbsp;&nbsp; $12.17 |
| Net investment income<sup>(a)</sup> | 0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.18 |
| Net realized and unrealized gain (loss) | 2.38 | &nbsp;&nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 | &nbsp;&nbsp;&nbsp; (2.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.65 |
| Net increase (decrease) from investment operations | 2.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.93 | &nbsp;&nbsp;&nbsp;&nbsp;1.11 | &nbsp;&nbsp;&nbsp; (1.86)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.83 |
| **Distributions**<sup>(b)</sup> <br>|  |  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>|
| From net realized gain | &nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.42)<br>| &nbsp;&nbsp;&nbsp; (0.63)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>|
| Total distributions | &nbsp;&nbsp; (0.44)<br>| &nbsp;&nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp;&nbsp; (0.66)<br>| &nbsp;&nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp;&nbsp; (0.68)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $19.20 | &nbsp;&nbsp;&nbsp; $17.12 | &nbsp;&nbsp;&nbsp; $16.79 | &nbsp;&nbsp;&nbsp; $15.08 | &nbsp;&nbsp;&nbsp; $14.63 | &nbsp;&nbsp;&nbsp; $17.32 |
| **Total Return**<sup>(c)</sup> <br>|  |  |  |  |  |  |
| Based on net asset value | 14.84 %<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.95<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.07<br> %<br>| &nbsp;&nbsp;&nbsp; (11.28)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 48.88<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |  |
| Total expenses | 0.07 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.11<br> %<br>|
| Total expenses after fees waived and/or reimbursed | 0.07 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>|
| Net investment income | 1.49 %<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.49<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.60<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $877845 | &nbsp;&nbsp;&nbsp; $742904 | &nbsp;&nbsp;&nbsp; $330248 | &nbsp;&nbsp;&nbsp; $299925 | &nbsp;&nbsp;&nbsp; $212591 | &nbsp;&nbsp;&nbsp; $213734 |
| Portfolio turnover rate | &nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp; 36<br> %<br>| &nbsp;&nbsp;&nbsp; 43<br> %<br>| &nbsp;&nbsp;&nbsp; 30<br> %<br>| &nbsp;&nbsp;&nbsp; 38<br> %<br>| &nbsp;&nbsp;&nbsp; 43<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

<sup>(c)</sup> Where applicable, assumes the reinvestment of distributions.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

<sup>(f)</sup> Annualized.

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights (continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | iShares Total U.S. Stock Market Index Fund | iShares Total U.S. Stock Market Index Fund | iShares Total U.S. Stock Market Index Fund | iShares Total U.S. Stock Market Index Fund | iShares Total U.S. Stock Market Index Fund | iShares Total U.S. Stock Market Index Fund |
|  | Institutional | Institutional | Institutional | Institutional | Institutional | Institutional |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| **Net asset value, beginning of period** | &nbsp;&nbsp; $28.83 | &nbsp;&nbsp;&nbsp; $25.26 | &nbsp;&nbsp;&nbsp; $21.15 | &nbsp;&nbsp;&nbsp; $19.07 | &nbsp;&nbsp;&nbsp; $20.96 | &nbsp;&nbsp;&nbsp; $15.31 |
| Net investment income<sup>(a)</sup> | 0.18 | &nbsp;&nbsp;&nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;0.24 |
| Net realized and unrealized gain (loss) | 2.71 | &nbsp;&nbsp;&nbsp;&nbsp;3.59 | &nbsp;&nbsp;&nbsp;&nbsp;4.11 | &nbsp;&nbsp;&nbsp;&nbsp;2.07 | &nbsp;&nbsp;&nbsp; (1.79)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.65 |
| Net increase (decrease) from investment operations | 2.89 | &nbsp;&nbsp;&nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;&nbsp;4.43 | &nbsp;&nbsp;&nbsp;&nbsp;2.37 | &nbsp;&nbsp;&nbsp; (1.52)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.89 |
| **Distributions**<sup>(b)</sup> <br>|  |  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp;&nbsp; (0.23)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>|
| Total distributions | &nbsp;&nbsp; (0.18)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>| &nbsp;&nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp;&nbsp; (0.37)<br>| &nbsp;&nbsp;&nbsp; (0.24)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $31.54 | &nbsp;&nbsp;&nbsp; $28.83 | &nbsp;&nbsp;&nbsp; $25.26 | &nbsp;&nbsp;&nbsp; $21.15 | &nbsp;&nbsp;&nbsp; $19.07 | &nbsp;&nbsp;&nbsp; $20.96 |
| **Total Return**<sup>(c)</sup> <br>|  |  |  |  |  |  |
| Based on net asset value | 10.04 %<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 15.64<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 21.13<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.65<br> %<br>| &nbsp;&nbsp;&nbsp; (7.37)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 38.73<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |  |
| Total expenses<sup>(f)</sup> | 0.06 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>|
| Total expenses after fees waived and/or reimbursed | 0.06 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.06<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>|
| Net investment income | 1.19 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.59<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.32<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $215606 | &nbsp;&nbsp;&nbsp; $211410 | &nbsp;&nbsp;&nbsp; $148779 | &nbsp;&nbsp;&nbsp; $112188 | &nbsp;&nbsp;&nbsp; $132762 | &nbsp;&nbsp;&nbsp; $155378 |
| Portfolio turnover rate | &nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 8<br> %<br>| &nbsp;&nbsp;&nbsp; 19<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

<sup>(c)</sup> Where applicable, assumes the reinvestment of distributions.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

<sup>(f)</sup> 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| Expense ratios | &nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(g)</sup> Annualized.

*See notes to financial statements.*

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Financial Highlights (continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) |
|  | Investor A | Investor A | Investor A | Investor A | Investor A | Investor A |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| **Net asset value, beginning of period** | &nbsp;&nbsp; $28.78 | &nbsp;&nbsp;&nbsp; $25.22 | &nbsp;&nbsp;&nbsp; $21.12 | &nbsp;&nbsp;&nbsp; $19.05 | &nbsp;&nbsp;&nbsp; $20.93 | &nbsp;&nbsp;&nbsp; $15.29 |
| Net investment income<sup>(a)</sup> | 0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.20 |
| Net realized and unrealized gain (loss) | 2.71 | &nbsp;&nbsp;&nbsp;&nbsp;3.58 | &nbsp;&nbsp;&nbsp;&nbsp;4.10 | &nbsp;&nbsp;&nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp; (1.78)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.64 |
| Net increase (decrease) from investment operations | 2.85 | &nbsp;&nbsp;&nbsp;&nbsp;3.84 | &nbsp;&nbsp;&nbsp;&nbsp;4.36 | &nbsp;&nbsp;&nbsp;&nbsp;2.31 | &nbsp;&nbsp;&nbsp; (1.56)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.84 |
| **Distributions**<sup>(b)</sup> <br>|  |  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp;&nbsp; (0.22)<br>| &nbsp;&nbsp;&nbsp; (0.19)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>|
| Total distributions | &nbsp;&nbsp; (0.14)<br>| &nbsp;&nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp;&nbsp; (0.24)<br>| &nbsp;&nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp;&nbsp; (0.20)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $31.49 | &nbsp;&nbsp;&nbsp; $28.78 | &nbsp;&nbsp;&nbsp; $25.22 | &nbsp;&nbsp;&nbsp; $21.12 | &nbsp;&nbsp;&nbsp; $19.05 | &nbsp;&nbsp;&nbsp; $20.93 |
| **Total Return**<sup>(c)</sup> <br>|  |  |  |  |  |  |
| Based on net asset value | 9.92 %<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 15.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 20.80<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.32<br> %<br>| &nbsp;&nbsp;&nbsp; (7.54)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 38.42<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |  |
| Total expenses<sup>(f)</sup> | 0.33 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Total expenses after fees waived and/or reimbursed | 0.33 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.31<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Net investment income | 0.92 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.99<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.11<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $301988 | &nbsp;&nbsp;&nbsp; $300144 | &nbsp;&nbsp;&nbsp; $256142 | &nbsp;&nbsp;&nbsp; $196798 | &nbsp;&nbsp;&nbsp; $176683 | &nbsp;&nbsp;&nbsp; $166601 |
| Portfolio turnover rate | &nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 8<br> %<br>| &nbsp;&nbsp;&nbsp; 19<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

<sup>(c)</sup> Where applicable, assumes the reinvestment of distributions.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

<sup>(f)</sup> 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| Expense ratios | &nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(g)</sup> Annualized.

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights (continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) | iShares Total U.S. Stock Market Index Fund (continued) |
|  | Class K | Class K | Class K | Class K | Class K | Class K |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| **Net asset value, beginning of period** | &nbsp;&nbsp; $28.82 | &nbsp;&nbsp;&nbsp; $25.26 | &nbsp;&nbsp;&nbsp; $21.15 | &nbsp;&nbsp;&nbsp; $19.07 | &nbsp;&nbsp;&nbsp; $20.96 | &nbsp;&nbsp;&nbsp; $15.31 |
| Net investment income<sup>(a)</sup> | 0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;0.31 | &nbsp;&nbsp;&nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;0.25 |
| Net realized and unrealized gain (loss) | 2.72 | &nbsp;&nbsp;&nbsp;&nbsp;3.58 | &nbsp;&nbsp;&nbsp;&nbsp;4.12 | &nbsp;&nbsp;&nbsp;&nbsp;2.07 | &nbsp;&nbsp;&nbsp; (1.79)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.64 |
| Net increase (decrease) from investment operations | 2.91 | &nbsp;&nbsp;&nbsp;&nbsp;3.92 | &nbsp;&nbsp;&nbsp;&nbsp;4.44 | &nbsp;&nbsp;&nbsp;&nbsp;2.38 | &nbsp;&nbsp;&nbsp; (1.51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.89 |
| **Distributions**<sup>(b)</sup> <br>|  |  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp;&nbsp; (0.23)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.10)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>|
| Total distributions | &nbsp;&nbsp; (0.19)<br>| &nbsp;&nbsp;&nbsp; (0.36)<br>| &nbsp;&nbsp;&nbsp; (0.33)<br>| &nbsp;&nbsp;&nbsp; (0.30)<br>| &nbsp;&nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp;&nbsp; (0.24)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $31.54 | &nbsp;&nbsp;&nbsp; $28.82 | &nbsp;&nbsp;&nbsp; $25.26 | &nbsp;&nbsp;&nbsp; $21.15 | &nbsp;&nbsp;&nbsp; $19.07 | &nbsp;&nbsp;&nbsp; $20.96 |
| **Total Return**<sup>(c)</sup> <br>|  |  |  |  |  |  |
| Based on net asset value | 10.11 %<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 15.63<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 21.18<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.70<br> %<br>| &nbsp;&nbsp;&nbsp; (7.32)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 38.79<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |  |
| Total expenses<sup>(f)</sup> | 0.02 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.02<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.02<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>|
| Total expenses after fees waived and/or reimbursed | 0.02 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.02<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.02<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>|
| Net investment income | 1.22 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.45<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.63<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.35<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $3791300 | &nbsp;&nbsp;&nbsp; $3632058 | &nbsp;&nbsp;&nbsp; $3133346 | &nbsp;&nbsp;&nbsp; $2570083 | &nbsp;&nbsp;&nbsp; $2215506 | &nbsp;&nbsp;&nbsp; $2037797 |
| Portfolio turnover rate | &nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 8<br> %<br>| &nbsp;&nbsp;&nbsp; 19<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

<sup>(c)</sup> Where applicable, assumes the reinvestment of distributions.

<sup>(d)</sup> Not annualized.

<sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.

<sup>(f)</sup> 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
|  | Six Months Ended <br>01/31/26 <br>(unaudited) | &nbsp;&nbsp; Year Ended <br>07/31/25 | &nbsp;&nbsp; Year Ended <br>07/31/24 | &nbsp;&nbsp; Year Ended <br>07/31/23 | &nbsp;&nbsp; Year Ended <br>07/31/22 | &nbsp;&nbsp; Year Ended <br>07/31/21 |
| Expense ratios | &nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(g)</sup> Annualized.

*See notes to financial statements.*

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Notes to Financial Statements (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1.*** ***ORGANIZATION***

BlackRock Funds<sup>SM</sup> (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*  | &nbsp;&nbsp; *Diversification* <br>*Classification* <br>|
| 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 and distribution 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.

<u> *Share Class* </u> <u> *Initial Sales Charge* </u> <u> *CDSC* </u> <u> *Conversion Privilege* </u> <br> 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 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. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis. 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 January 31, 2026, 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.

**Cash:** The Funds may maintain cash at their custodian which, at times may exceed United States federally insured limits. The Funds may, at times, have outstanding cash disbursements that exceed deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** 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.

**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.

Notes to Financial Statements

------

Notes to Financial Statements (unaudited) (continued)

**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.

**Segment Reporting:** The Chief Financial Officer acts as the Funds' Chief Operating Decision Maker ("CODM") and is responsible for assessing performance and allocating resources with respect to each Fund. The CODM has concluded that each Fund operates as a single operating segment since each Fund has a single investment strategy as disclosed in its prospectus, against which the CODM assesses performance. The financial information provided to and reviewed by the CODM is presented within each Fund's financial statements.

***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. The Board of Trustees of the Trust (the "Board") has approved the designation of each Fund's Manager as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under the Manager's policies. 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 the Manager's policies and procedures as reflecting fair value. The Manager has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Equity investments (except ETF options, equity index options or those that are customized) 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 trade or last available bid (long positions) or ask (short positions) price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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 trade or last available bid (long positions) or ask (short positions) price.

&nbsp;&nbsp;&nbsp;&nbsp;•Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's net asset value ("NAV").

&nbsp;&nbsp;&nbsp;&nbsp;•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 occurs after 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 Valuation Committee in accordance with the Manager's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the 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 Valuation Committee 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 Valuation Committee deems relevant and consistent with the principles of fair value measurement as of the measurement date.

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 Valuation Committee and third-party pricing services utilized by the Valuation Committee include one or a combination of, but not limited to, the following inputs:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) recent market transactions, including secondary market transactions, merger or acquisition activity and subsequent rounds of financing in the underlying investment or comparable issuers

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) recapitalizations and other transactions across the capital structure

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) market or relevant indices multiples of comparable issuers

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) future cash flows discounted to present and adjusted as appropriate for liquidity, credit, and/or market risks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) quoted prices for similar investments or assets in active markets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts and/or default rates

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) audited or unaudited financial statements, investor communications and Private Company financial or operational metrics

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Notes to Financial Statements (unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) relevant market news and other public sources.

Investments in series of preferred stock issued by Private Companies are typically valued utilizing a market approach to determine 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 involves 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.

Private Companies are not subject to public company disclosure, timing, and reporting standards applicable to other investments held by a Fund. Certain information made available 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 at the measurement date. 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 that each Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;•Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (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 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***

**Warrants:** Warrants entitle a fund to purchase a specified number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any. If the price of the underlying stock does not rise above the strike price before the warrant expires, the warrant generally expires without any value and a fund will lose any amount it paid for the warrant. Thus, investments in warrants may involve more risk than investments in common stock. Warrants may trade in the same markets as their underlying stock; however, the price of the warrant does not necessarily move with the price of the underlying stock.

**Securities Lending:** The 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 related collateral, if any, are shown separately in the Statements of Assets and Liabilities as a component of investments at value – unaffiliated and collateral on securities loaned, 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.

Notes to Financial Statements

------

Notes to Financial Statements (unaudited) (continued)

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* <br>*Loaned at Value*<br>| *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net* <br>*Amount*<br>|
| Mid-Cap Index |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $83624 | &nbsp;&nbsp; $(83624)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 5029392 | &nbsp;&nbsp; (5029392)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 5526051 | &nbsp;&nbsp; (5526051)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 5671226 | &nbsp;&nbsp; (5671226)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 1789822 | &nbsp;&nbsp; (1789822)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 1684 | &nbsp;&nbsp; (1684)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 4039124 | &nbsp;&nbsp; (4039124)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| National Financial Services LLC | &nbsp;&nbsp; 1517656 | &nbsp;&nbsp; (1517656)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 37606 | &nbsp;&nbsp; (37606)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 38 | &nbsp;&nbsp; (38)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 9967149 | &nbsp;&nbsp; (9967149)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 141017 | &nbsp;&nbsp; (141017)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Virtu Americas LLC | &nbsp;&nbsp; 12552 | &nbsp;&nbsp; (12552)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 198889 | &nbsp;&nbsp; (198889)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 2199948 | &nbsp;&nbsp; (2199948)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $36215778 | &nbsp;&nbsp; $(36215778)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Small/Mid-Cap Index |  |  |  |  |
| BMO Capital Markets Corp. | &nbsp;&nbsp; $105030 | &nbsp;&nbsp; $(105030)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 10982312 | &nbsp;&nbsp; (10982312)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 8265392 | &nbsp;&nbsp; (8265392)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Citadel Clearing LLC | &nbsp;&nbsp; 4396 | &nbsp;&nbsp; (4396)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 4394174 | &nbsp;&nbsp; (4394174)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 15278294 | &nbsp;&nbsp; (15278294)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 6835729 | &nbsp;&nbsp; (6835729)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 11173921 | &nbsp;&nbsp; (11173921)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 738001 | &nbsp;&nbsp; (738001)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Mizuho Securities USA LLC | &nbsp;&nbsp; 2488 | &nbsp;&nbsp; (2488)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 8156524 | &nbsp;&nbsp; (8156524)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| National Financial Services LLC | &nbsp;&nbsp; 6530903 | &nbsp;&nbsp; (6530903)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 35239 | &nbsp;&nbsp; (35239)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 291081 | &nbsp;&nbsp; (291081)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 218239 | &nbsp;&nbsp; (218239)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 354325 | &nbsp;&nbsp; (354325)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 35957 | &nbsp;&nbsp; (35957)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 35381 | &nbsp;&nbsp; (35381)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 12865761 | &nbsp;&nbsp; (12865761)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 620248 | &nbsp;&nbsp; (620248)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Virtu Americas LLC | &nbsp;&nbsp; 104302 | &nbsp;&nbsp; (104302)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 314868 | &nbsp;&nbsp; (314868)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 3144871 | &nbsp;&nbsp; (3144871)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $90487436 | &nbsp;&nbsp; $(90487436)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Total U.S. Stock Market Index |  |  |  |  |
| BNP Paribas SA | &nbsp;&nbsp; $6074453 | &nbsp;&nbsp; $(6074453)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| BofA Securities, Inc. | &nbsp;&nbsp; 4918854 | &nbsp;&nbsp; (4918854)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 7757608 | &nbsp;&nbsp; (7757608)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 7519464 | &nbsp;&nbsp; (7519464)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 636695 | &nbsp;&nbsp; (636695)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 9898836 | &nbsp;&nbsp; (9898836)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 270480 | &nbsp;&nbsp; (270480)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Mizuho Securities USA LLC | &nbsp;&nbsp; 4821 | &nbsp;&nbsp; (4821)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 3960955 | &nbsp;&nbsp; (3960955)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| National Financial Services LLC | &nbsp;&nbsp; 6348928 | &nbsp;&nbsp; (6348928)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 35522 | &nbsp;&nbsp; (35522)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Pershing LLC | &nbsp;&nbsp; 12229 | &nbsp;&nbsp; (12229)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 157346 | &nbsp;&nbsp; (157346)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 48176 | &nbsp;&nbsp; (48176)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 744137 | &nbsp;&nbsp; (744137)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| TD Securities (USA) LLC | &nbsp;&nbsp; 219862 | &nbsp;&nbsp; (219862)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 3191018 | &nbsp;&nbsp; (3191018)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 113965 | &nbsp;&nbsp; (113965)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Virtu Americas LLC | &nbsp;&nbsp; 155739 | &nbsp;&nbsp; (155739)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Notes to Financial Statements (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Fund Name/Counterparty* | *Securities*<br> *Loaned at Value*<br>| *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net*<br> *Amount*<br>|
| Total U.S. Stock Market Index (continued) |  |  |  |  |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; $642152 | &nbsp;&nbsp; $(642152)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 1292484 | &nbsp;&nbsp; (1292484)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $54003724 | &nbsp;&nbsp; $(54003724)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, 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. 

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, each Fund benefits from a borrower default indemnity provided by BlackRock Finance, Inc. BlackRock Finance, Inc.'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 the 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 each Fund.

***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, majority-owned subsidiary of BlackRock, Inc.("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* <br>*Advisory Fees*<br>|
| Mid-Cap Index | 0.02<br> % <br>|
| 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 each Fund, 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<br> % <br>|

---

Notes to Financial Statements

------

Notes to Financial Statements (unaudited) (continued)

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 six months ended January 31, 2026, 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 | &nbsp;&nbsp; $227911 |
| Small/Mid-Cap Index | &nbsp;&nbsp; 135335 |
| Total U.S. Stock Market Index | &nbsp;&nbsp; 382969 |

---

**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 six months ended January 31, 2026, the Funds did not pay any amounts to affiliates in return for these services.

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 six months ended January 31, 2026, 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 | &nbsp;&nbsp; $296 | $4062 | $4388 | $8746 |
| Small/Mid-Cap Index | &nbsp;&nbsp; 162 | 3094 | 2433 | 5689 |
| Total U.S. Stock Market Index | &nbsp;&nbsp; 359 | 6446 | 4866 | 11671 |

---

For the six months ended January 31, 2026, 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 | &nbsp;&nbsp; $53441 | $60317 | $46077 | $159835 |
| Small/Mid-Cap Index | &nbsp;&nbsp; 41799 | 34048 | 29489 | 105336 |
| Total U.S. Stock Market Index | &nbsp;&nbsp; 43945 | 90412 | 31644 | 166001 |

---

**Expense Limitations, Waivers and Reimbursements:** 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 June 30, 2027. 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 six months ended January 31, 2026, the amounts waived were as follows:

---

| | |
|:---|:---|
| *Fund Name* | *Fees Waived and/or Reimbursed* <br>*by the Manager*<br>|
| Mid-Cap Index | &nbsp;&nbsp; $5091 |
| Small/Mid-Cap Index | &nbsp;&nbsp; 1952 |
| Total U.S. Stock Market Index | &nbsp;&nbsp; 6614 |

---

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 June 30, 2027. 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 six months ended January 31, 2026, the amounts waived in investment advisory fees pursuant to these arrangements were as follows:

---

| | |
|:---|:---|
| *Fund Name* | *Fees Waived and/or Reimbursed* <br>*by the Manager*<br>|
| Mid-Cap Index | &nbsp;&nbsp; $1851 |
| Small/Mid-Cap Index | &nbsp;&nbsp; 1959 |
| Total U.S. Stock Market Index | &nbsp;&nbsp; 1686 |

---

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, acquired fund fees and expenses, and certain other fund expenses ("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<br> % <br>| 0.37<br> % <br>| 0.07<br> % <br>|
| Small/Mid-Cap Index | 0.12 | 0.37 | 0.07 |
| Total U.S. Stock Market Index | 0.08 | 0.33 | 0.03 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Notes to Financial Statements (unaudited) (continued)

The Manager has agreed not to reduce or discontinue the contractual expense limitations through June 30, 2027, 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 six months ended January 31, 2026, amounts included in the Statements of Operations were as follows:

---

| | |
|:---|:---|
| *Fund Name* | *Fees Waived and/or Reimbursed* <br>*by the Manager*<br>|
| Small/Mid-Cap Index | &nbsp;&nbsp; $84 |

---

In addition, these amounts waived and/or reimbursed by the Manager are included in transfer agent fees waived and/or reimbursed by the Manager — class specific in the Statements of Operations. For the six months ended January 31, 2026, class specific expense waivers and/or reimbursements were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Transfer Agent Fees Waived and/or* <br>*Reimbursed by the Manager - Class Specific* | *Transfer Agent Fees Waived and/or* <br>*Reimbursed by the Manager - Class Specific* | *Transfer Agent Fees Waived and/or* <br>*Reimbursed by the Manager - Class Specific* | *Transfer Agent Fees Waived and/or* <br>*Reimbursed by the Manager - Class Specific* |
| *Fund Name*  | *Institutional* | *Investor A* | *Class K* | *Total* |
| Small/Mid-Cap Index | &nbsp;&nbsp; $738 | &nbsp;&nbsp; $4151 | &nbsp;&nbsp; $12541 | &nbsp;&nbsp; $17430 |
| Total U.S. Stock Market Index | &nbsp;&nbsp; — | &nbsp;&nbsp; 2474 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2474 |

---

**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, including any custodial costs. 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. BlackRock Cash Funds: Institutional may impose a discretionary liquidity fee of up to 2% on all redemptions. Discretionary liquidity fees may be imposed or terminated at any time at the discretion of the board of directors of the money market fund, or its delegate, if it is determined that such fee would be, or would not be, respectively, in the best interest of the money market fund. Additionally, BlackRock Cash Funds: Institutional will impose a mandatory liquidity fee if the money market fund's total net redemptions on a single day exceed 5% of the money market fund's net assets, unless the amount of the fee is less than 0.01% of the value of the shares redeemed. BlackRock Cash Funds: Institutional will determine the size of the mandatory liquidity fee by making a good faith estimate of certain costs the money market fund would incur if it were to sell a pro rata amount of each security in the portfolio to satisfy the amount of net redemptions on that day. There is no limit to the size of a mandatory liquidity fee. If BlackRock Cash Funds: Institutional cannot estimate the costs of selling a pro rata amount of each portfolio security in good faith and supported by data, it is required to apply a default liquidity fee of 1% on the value of shares redeemed on that day.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the securities lending agreement effective as of January 1, 2026, each Fund retains 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.

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 specific 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 84% 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.

Pursuant to the securities lending agreement effective as of January 1, 2025, identical securities lending arrangements were in place for each Fund for the calendar year ended December 31, 2025.

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 six months ended January 31, 2026, each Fund paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *Fund Name*  | *Amounts* |
| Mid-Cap Index | &nbsp;&nbsp; $60493 |
| Small/Mid-Cap Index | &nbsp;&nbsp; 122847 |
| Total U.S. Stock Market Index | &nbsp;&nbsp; 58421 |

---

**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 Trust's 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 six months ended January 31, 2026, 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* | &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>|
| Mid-Cap Index | &nbsp;&nbsp;&nbsp; $12133944 | &nbsp;&nbsp;&nbsp; $4859990 | &nbsp;&nbsp;&nbsp; $1146792 |

---

Notes to Financial Statements

------

Notes to Financial Statements (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| *Fund Name* | *Purchases* | *Sales* | &nbsp;&nbsp; *Net Realized*<br> *Gain (Loss)*<br>|
| Small/Mid-Cap Index | &nbsp;&nbsp;&nbsp; $5973196 | &nbsp;&nbsp;&nbsp; $9627715 | &nbsp;&nbsp;&nbsp; $1492785 |
| Total U.S. Stock Market Index | &nbsp;&nbsp;&nbsp; 7044100 | &nbsp;&nbsp;&nbsp; 12111388 | &nbsp;&nbsp;&nbsp; 903065 |

---

***7.*** ***PURCHASES AND SALES*** 

For the six months ended January 31, 2026, purchases and sales of investments, excluding short-term securities, were as follows:

---

| | | |
|:---|:---|:---|
| *Fund Name*  | *Purchases* | *Sales* |
| Mid-Cap Index | &nbsp;&nbsp; $93469156 | &nbsp;&nbsp; $123511628 |
| Small/Mid-Cap Index | &nbsp;&nbsp; 134114319 | &nbsp;&nbsp; 117659168 |
| Total U.S. Stock Market Index | &nbsp;&nbsp; 148541897 | &nbsp;&nbsp; 383295661 |

---

***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 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 January 31, 2026, 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. Management's analysis is based on the tax laws and judicial and administrative interpretations thereof in effect as of the date of these financial statements, all of which are subject to change, possibly with retroactive effect, which may impact the Funds' NAV.

As of July 31, 2025, the Funds had non-expiring capital loss carryforwards as follows:

---

| | |
|:---|:---|
| *Fund Name* | *Non-Expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>|
| Total U.S. Stock Market Index | &nbsp;&nbsp; $(28841939)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

As of January 31, 2026, 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* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Mid-Cap Index | &nbsp;&nbsp; $1451005794 | &nbsp;&nbsp; $981640063 | &nbsp;&nbsp; $(143221119)<br>| &nbsp;&nbsp; $838418944 |
| Small/Mid-Cap Index | &nbsp;&nbsp; 967484882 | &nbsp;&nbsp; 364193127 | &nbsp;&nbsp; (85115530)<br>| &nbsp;&nbsp; 279077597 |
| Total U.S. Stock Market Index | &nbsp;&nbsp; 2005697965 | &nbsp;&nbsp; 2483029337 | &nbsp;&nbsp; (121148034)<br>| &nbsp;&nbsp; 2361881303 |

---

***9.*** ***BANK BORROWINGS*** 

The Trust, on behalf of each Fund, along with certain other funds managed by the Manager and its affiliates ("Participating Funds"), is party to a 364-day, $2.40 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) Overnight Bank Funding Rate ("OBFR") (but, in any event, not less than 0.00%) on the date the loan is made plus 0.80% per annum, (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 or (c) the sum of (x) Daily Simple Secured Overnight Financing Rate ("SOFR") (but, in any event, not less than 0.00%) on the date the loan is made plus 0.10% and (y) 0.80% per annum. The agreement expires in April 2026 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 six months ended January 31, 2026, the Funds did not borrow under the credit agreement.

***10.*** ***PRINCIPAL RISKS*** 

In the normal course of business, each Fund invests 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;

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Notes to Financial Statements (unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(iii) regulation, taxation, tariffs or international tax treaties between various countries; or (iv) currency, interest rate or 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 an indexing approach to try to achieve each Fund's investment objective. The Funds are not actively managed, and the Manager generally does not attempt to take defensive positions under any market conditions, including declining markets.

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 mandatory and discretionary liquidity fees under certain circumstances.

**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. 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.

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.

**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.

**Geographic/Asset Class 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.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the Funds invest.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

Notes to Financial Statements

------

Notes to Financial Statements (unaudited) (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***11.*** ***CAPITAL SHARE TRANSACTIONS*** 

Transactions in capital shares for each class were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended <br>01/31/26 | Six Months Ended <br>01/31/26 | Year Ended <br>07/31/25 | Year Ended <br>07/31/25 |
| *Fund Name / Share Class*  | *Shares*  | *Amounts*  | *Shares*  | *Amounts*  |
| Mid-Cap Index  |  |  |  |  |
| Institutional |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 1519955 | &nbsp;&nbsp;&nbsp; $24270610 | &nbsp;&nbsp;&nbsp; 3327281 | &nbsp;&nbsp;&nbsp; $49688154 |
| Shares issued in reinvestment of distributions | &nbsp;&nbsp; 601882 | &nbsp;&nbsp;&nbsp; 9359384 | &nbsp;&nbsp;&nbsp; 763161 | &nbsp;&nbsp;&nbsp; 11781822 |
| Shares redeemed | &nbsp;&nbsp; (2246556) | &nbsp;&nbsp;&nbsp; (35873029) | &nbsp;&nbsp;&nbsp; (6621011) | &nbsp;&nbsp;&nbsp; (98226158) |
|  | &nbsp;&nbsp; (124719) | &nbsp;&nbsp;&nbsp; $(2243035) | &nbsp;&nbsp;&nbsp; (2530569) | &nbsp;&nbsp;&nbsp; $(36756182) |
| Investor A |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 1393868 | &nbsp;&nbsp;&nbsp; $22097758 | &nbsp;&nbsp;&nbsp; 3408226 | &nbsp;&nbsp;&nbsp; $50744951 |
| Shares issued in reinvestment of distributions | &nbsp;&nbsp; 562414 | &nbsp;&nbsp;&nbsp; 8696561 | &nbsp;&nbsp;&nbsp; 681751 | &nbsp;&nbsp;&nbsp; 10489208 |
| Shares redeemed | &nbsp;&nbsp; (2341028) | &nbsp;&nbsp;&nbsp; (37287020) | &nbsp;&nbsp;&nbsp; (3572910) | &nbsp;&nbsp;&nbsp; (53809567) |
|  | &nbsp;&nbsp; (384746) | &nbsp;&nbsp;&nbsp; $(6492701) | &nbsp;&nbsp;&nbsp; 517067 | &nbsp;&nbsp;&nbsp; $7424592 |
| Class K |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 15945127 | &nbsp;&nbsp;&nbsp; $255291466 | &nbsp;&nbsp;&nbsp; 29167269 | &nbsp;&nbsp;&nbsp; $441784682 |
| Shares issued in reinvestment of distributions | &nbsp;&nbsp; 5749713 | &nbsp;&nbsp;&nbsp; 89595136 | &nbsp;&nbsp;&nbsp; 6859576 | &nbsp;&nbsp;&nbsp; 106139458 |
| Shares redeemed | &nbsp;&nbsp; (17613672) | &nbsp;&nbsp;&nbsp; (282726222) | &nbsp;&nbsp;&nbsp; (30157134) | &nbsp;&nbsp;&nbsp; (456567917) |
|  | &nbsp;&nbsp; 4081168 | &nbsp;&nbsp;&nbsp; $62160380 | &nbsp;&nbsp;&nbsp; 5869711 | &nbsp;&nbsp;&nbsp; $91356223 |
|  | &nbsp;&nbsp; 3571703 | &nbsp;&nbsp;&nbsp; $53424644 | &nbsp;&nbsp;&nbsp; 3856209 | &nbsp;&nbsp;&nbsp; $62024633 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended <br>01/31/26 | Six Months Ended <br>01/31/26 | Year Ended <br>07/31/25 | Year Ended <br>07/31/25 |
| *Fund Name / Share Class*  | *Shares*  | *Amounts*  | *Shares*  | *Amounts*  |
| Small/Mid-Cap Index  |  |  |  |  |
| Institutional |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 1325099 | &nbsp;&nbsp;&nbsp; $24549062 | &nbsp;&nbsp;&nbsp; 1382107 | &nbsp;&nbsp;&nbsp; $22845470 |
| Shares issued in reinvestment of distributions | &nbsp;&nbsp; 184857 | &nbsp;&nbsp;&nbsp; 3402306 | &nbsp;&nbsp;&nbsp; 199792 | &nbsp;&nbsp;&nbsp; 3436071 |
| Shares redeemed | &nbsp;&nbsp; (1947457) | &nbsp;&nbsp;&nbsp; (35888371) | &nbsp;&nbsp;&nbsp; (2708769) | &nbsp;&nbsp;&nbsp; (44988549) |
|  | &nbsp;&nbsp; (437501) | &nbsp;&nbsp;&nbsp; $(7937003) | &nbsp;&nbsp;&nbsp; (1126870) | &nbsp;&nbsp;&nbsp; $(18707008) |
| Investor A |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 701421 | &nbsp;&nbsp;&nbsp; $13002401 | &nbsp;&nbsp;&nbsp; 1056173 | &nbsp;&nbsp;&nbsp; $17467966 |
| Shares issued in reinvestment of distributions | &nbsp;&nbsp; 129533 | &nbsp;&nbsp;&nbsp; 2380297 | &nbsp;&nbsp;&nbsp; 116097 | &nbsp;&nbsp;&nbsp; 2001927 |
| Shares redeemed | &nbsp;&nbsp; (760408) | &nbsp;&nbsp;&nbsp; (13853832) | &nbsp;&nbsp;&nbsp; (1424481) | &nbsp;&nbsp;&nbsp; (23857534) |
|  | &nbsp;&nbsp; 70546 | &nbsp;&nbsp;&nbsp; $1528866 | &nbsp;&nbsp;&nbsp; (252211) | &nbsp;&nbsp;&nbsp; $(4387641) |
| Class K |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 6277921 | &nbsp;&nbsp;&nbsp; $114752884 | &nbsp;&nbsp;&nbsp; 29703671 | &nbsp;&nbsp;&nbsp; $500113760 |
| Shares issued in reinvestment of distributions | &nbsp;&nbsp; 1065622 | &nbsp;&nbsp;&nbsp; 19613119 | &nbsp;&nbsp;&nbsp; 706775 | &nbsp;&nbsp;&nbsp; 12136290 |
| Shares redeemed | &nbsp;&nbsp; (5001957) | &nbsp;&nbsp;&nbsp; (92299904) | &nbsp;&nbsp;&nbsp; (6695942) | &nbsp;&nbsp;&nbsp; (112806937) |
|  | &nbsp;&nbsp; 2341586 | &nbsp;&nbsp;&nbsp; $42066099 | &nbsp;&nbsp;&nbsp; 23714504 | &nbsp;&nbsp;&nbsp; $399443113 |
|  | &nbsp;&nbsp; 1974631 | &nbsp;&nbsp;&nbsp; $35657962 | &nbsp;&nbsp;&nbsp; 22335423 | &nbsp;&nbsp;&nbsp; $376348464 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended <br>01/31/26 | Six Months Ended <br>01/31/26 | Year Ended <br>07/31/25 | Year Ended <br>07/31/25 |
| *Fund Name / Share Class*  | *Shares*  | *Amounts*  | *Shares*  | *Amounts*  |
| Total U.S. Stock Market Index  |  |  |  |  |
| Institutional |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 983711 | &nbsp;&nbsp;&nbsp; $30074959 | &nbsp;&nbsp;&nbsp; 2398066 | &nbsp;&nbsp;&nbsp; $64141815 |
| Shares issued in reinvestment of distributions | &nbsp;&nbsp; 38920 | &nbsp;&nbsp;&nbsp; 1197566 | &nbsp;&nbsp;&nbsp; 87456 | &nbsp;&nbsp;&nbsp; 2357845 |
| Shares redeemed | &nbsp;&nbsp; (1520338) | &nbsp;&nbsp;&nbsp; (46225217) | &nbsp;&nbsp;&nbsp; (1040808) | &nbsp;&nbsp;&nbsp; (27450755) |
|  | &nbsp;&nbsp; (497707) | &nbsp;&nbsp;&nbsp; $(14952692) | &nbsp;&nbsp;&nbsp; 1444714 | &nbsp;&nbsp;&nbsp; $39048905 |
| Investor A |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 741817 | &nbsp;&nbsp;&nbsp; $22492761 | &nbsp;&nbsp;&nbsp; 2696833 | &nbsp;&nbsp;&nbsp; $70393954 |
| Shares issued in reinvestment of distributions | &nbsp;&nbsp; 44877 | &nbsp;&nbsp;&nbsp; 1378702 | &nbsp;&nbsp;&nbsp; 112314 | &nbsp;&nbsp;&nbsp; 3026439 |
| Shares redeemed | &nbsp;&nbsp; (1625101) | &nbsp;&nbsp;&nbsp; (49404508) | &nbsp;&nbsp;&nbsp; (2534699) | &nbsp;&nbsp;&nbsp; (68539699) |
|  | &nbsp;&nbsp; (838407) | &nbsp;&nbsp;&nbsp; $(25533045) | &nbsp;&nbsp;&nbsp; 274448 | &nbsp;&nbsp;&nbsp; $4880694 |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Notes to Financial Statements (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended<br> 01/31/26 | Six Months Ended<br> 01/31/26 | Year Ended<br> 07/31/25 | Year Ended<br> 07/31/25 |
| *Fund Name / Share Class (continued)* | *Shares*  | *Amounts*  | *Shares*  | *Amounts*  |
| Total U.S. Stock Market Index (continued) |  |  |  |  |
| Class K |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 11161939 | &nbsp;&nbsp;&nbsp; $341865346 | &nbsp;&nbsp;&nbsp; 21501497 | &nbsp;&nbsp;&nbsp; $569705093 |
| Shares issued in reinvestment of distributions | &nbsp;&nbsp; 760905 | &nbsp;&nbsp;&nbsp; 23407524 | &nbsp;&nbsp;&nbsp; 1671169 | &nbsp;&nbsp;&nbsp; 44995973 |
| Shares redeemed | &nbsp;&nbsp; (17710826) | &nbsp;&nbsp;&nbsp; (548550781) | &nbsp;&nbsp;&nbsp; (21205341) | &nbsp;&nbsp;&nbsp; (564426452) |
|  | &nbsp;&nbsp; (5787982) | &nbsp;&nbsp;&nbsp; $(183277911) | &nbsp;&nbsp;&nbsp; 1967325 | &nbsp;&nbsp;&nbsp; $50274614 |
|  | &nbsp;&nbsp; (7124096) | &nbsp;&nbsp;&nbsp; $(223763648) | &nbsp;&nbsp;&nbsp; 3686487 | &nbsp;&nbsp;&nbsp; $94204213 |

---

***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.

Notes to Financial Statements

------

Additional Information

**Changes in and Disagreements with Accountants**

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others**

Compensation to the independent directors/trustees of the Trust is paid by the Trust, on behalf of the Funds.

**General Information**

Quarterly performance, shareholder reports, semi-annual and annual financial statements, 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.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications of quarterly statements, annual and semi-annual shareholder reports and prospectuses by enrolling in the electronic delivery program.

To enroll in electronic delivery:

**Shareholders Who Hold Accounts with Investment Advisors, Banks or Brokerages:**

Please contact your financial advisor. Please note that not all investment advisors, banks or brokerages may offer this service.

**Shareholders Who Hold Accounts Directly with BlackRock:**

1. Access the BlackRock website at **blackrock.com**

2. Select "Access Your Account"

3. Next, select "eDelivery" in the "Related Resources" box and follow the sign-up instructions.

**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.

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

Additional Information (continued)

**Fund and Service Providers**

**Investment Adviser**

BlackRock Advisors, LLC

Wilmington, DE 19809

**Sub-Adviser**

BlackRock Fund Advisors

San Francisco, CA 94105

**Accounting Agent and Custodian**

State Street Bank and Trust Company

Boston, MA 02114

**Transfer Agent**

BNY Mellon Investment Servicing (US) Inc.

Wilmington, DE 19809

**Distributor**

BlackRock Investments, LLC

New York, NY 10001

**Independent Registered Public Accounting Firm**

PricewaterhouseCoopers LLP

Philadelphia, PA 19103

**Legal Counsel**

Ropes & Gray LLP

New York, NY 10036

**Address of the Funds**

100 Bellevue Parkway

Wilmington, DE 19809

Additional Information

------

Glossary of Terms Used in these Financial Statements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CVR | Contingent Value Right |
| ETF | Exchange-Traded Fund |
| MSCI | Morgan Stanley Capital International |
| REIT | Real Estate Investment Trust |
| S&P | Standard & Poor's |

---

2026 BlackRock Semi-Annual Financial Statements and Additional Information

------

THIS PAGE INTENTIONALLY LEFT BLANK.

------

Want to know more?

blackrock.com \| 800-441-7762

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.

![](g59050imgf98e2ffc2.jpg)

![](g59050img0d5db95f1.jpg)

------

Item 8 – Changes in and Disagreements with Accountants for Open-End Management Investment Companies – See Item 7

Item 9 – Proxy Disclosures for Open-End Management Investment Companies – See Item 7

Item 10 – Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies – See Item 7

Item 11 – Statement Regarding Basis for Approval of Investment Advisory Contract – Not Applicable

Item 12 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not Applicable

Item 13 – Portfolio Managers of Closed-End Management Investment Companies – Not Applicable

Item 14 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not Applicable

---

| | |
|:---|:---|
| Item 15 – | Submission of Matters to a Vote of Security Holders – There have been no material changes to these procedures.  |

---

------

Item 16 – Controls and Procedures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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 date of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

Item 17 – Disclosure of Securities Lending Activities for Closed-End Management Investment Companies – Not Applicable

Item 18 – Recovery of Erroneously Awarded Compensation – Not Applicable

Item 19 – Exhibits attached hereto

(a)(1) Code of Ethics – Not Applicable to this semi-annual report

(a)(2) Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed – Not Applicable

[(a)(3) Section 302 Certifications are attached](d59050dex99cert.htm)

(a)(4) Any written solicitation to purchase securities under Rule 23c-1 – Not Applicable

(a)(5) Change in registrant's independent public accountant – Not Applicable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(b) Section 906 Certifications are attached](d59050dex99906cert.htm)

------

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 Funds<sup>SM</sup>

---

| | |
|:---|:---|
| By: | /s/ John M. Perlowski  |
|  | John M. Perlowski |
|  | Chief Executive Officer (principal executive officer) of |
|  | BlackRock Funds<sup>SM</sup> |

---

Date: March 23, 2026

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 Funds<sup>SM</sup> |

---

Date: March 23, 2026

---

| | |
|:---|:---|
| By: | /s/ Trent Walker  |
|  | Trent Walker |
|  | Chief Financial Officer (principal financial officer) of |
|  | BlackRock Funds<sup>SM</sup> |

---

Date: March 23, 2026

## Ex-99.Cert

**EX-99. CERT** 

**CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE** 

**SARBANES-OXLEY ACT OF 2002** 

I, John M. Perlowski, Chief Executive Officer (principal executive officer) of BlackRock Funds<sup>SM</sup>, certify that:

1. I have reviewed this report on Form N-CSR of BlackRock Funds<sup>SM</sup>;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: March 23, 2026

<u>/s/ John M. Perlowski</u> 

John M. Perlowski

Chief Executive Officer (principal executive officer) of

BlackRock Funds<sup>SM</sup> 

------

**EX-99. CERT** 

**CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE** 

**SARBANES-OXLEY ACT OF 2002** 

I, Trent Walker, Chief Financial Officer (principal financial officer) of BlackRock Funds<sup>SM</sup>, certify that:

1. I have reviewed this report on Form N-CSR of BlackRock Funds<sup>SM</sup>;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: March 23, 2026

<u>/s/ Trent Walker</u> 

Trent Walker

Chief Financial Officer (principal financial officer) of

BlackRock Funds<sup>SM</sup>

## Exhibit 99.906

**Exhibit 99.906CERT**

**Certification Pursuant to Rule 30a-2(b) under the 1940 Act and** 

**Section 906 of the Sarbanes-Oxley Act of 2002** 

Pursuant to 18 U.S.C. § 1350, the undersigned officer of BlackRock Funds<sup>SM</sup> (the "Registrant"), hereby certifies, to the best of their knowledge, that the Registrant's Report on Form N-CSR for the period ended January 31, 2026 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: March 23, 2026

<u>/s/ John M. Perlowski</u> 

John M. Perlowski

Chief Executive Officer (principal executive officer) of

BlackRock Funds<sup>SM</sup>

Pursuant to 18 U.S.C. § 1350, the undersigned officer of BlackRock Funds<sup>SM</sup> (the "Registrant"), hereby certifies, to the best of their knowledge, that the Registrant's Report on Form N-CSR for the period ended January 31, 2026 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: March 23, 2026

<u>/s/ Trent Walker</u> 

Trent Walker

Chief Financial Officer (principal financial officer) of

BlackRock Funds<sup>SM</sup>

This certification is being furnished pursuant to Rule 30a-2(b) under the Investment Company Act of 1940, as amended, and 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR with the Securities and Exchange Commission**.**