# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001752724-25-177823
**Filing Date:** 2025-7
**Character Count:** 41205
**Document Hash:** f8bbc10c9b1ba9db0afee7f375445d12
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-177823.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001752724-25-177823

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663

**ORGANIZATION NAME:**
- **EIN:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 251149397

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

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

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

## Series and Classes Contracts Data

### iShares MSCI Norway ETF (Series ID: S000035389)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000108740 | iShares MSCI Norway ETF | ENOR            |

## Nport-Ex

Schedule of Investments (unaudited)

May 31, 2025

**iShares® MSCI Norway ETF**

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

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 8.7%** | **Aerospace & Defense — 8.7%** | **Aerospace & Defense — 8.7%** |
| Kongsberg Gruppen ASA | &nbsp;&nbsp;&nbsp; 18707 | $3294679 |
| **Banks — 18.0%** | **Banks — 18.0%** | **Banks — 18.0%** |
| DNB Bank ASA | &nbsp;&nbsp;&nbsp; 190452 | 5093792 |
| SpareBank 1 Nord Norge | &nbsp;&nbsp;&nbsp; 20281 | 292694 |
| SpareBank 1 Oestlandet | &nbsp;&nbsp;&nbsp; 10116 | 181481 |
| SpareBank 1 SMN | &nbsp;&nbsp;&nbsp; 27712 | 522702 |
| SpareBank 1 Sor-Norge ASA | &nbsp;&nbsp;&nbsp; 43917 | 765086 |
|  |  | 6855755 |
| **Broadline Retail — 0.7%** | **Broadline Retail — 0.7%** | **Broadline Retail — 0.7%** |
| Europris ASA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 33727 | 262630 |
| **Chemicals — 3.6%** | **Chemicals — 3.6%** | **Chemicals — 3.6%** |
| Elkem ASA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 61122 | 117817 |
| Yara International ASA | &nbsp;&nbsp;&nbsp; 35212 | 1263274 |
|  |  | 1381091 |
| **Construction & Engineering — 0.9%** | **Construction & Engineering — 0.9%** | **Construction & Engineering — 0.9%** |
| Cadeler AS<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 48515 | 242813 |
| Norconsult Norge A/S, NVS | &nbsp;&nbsp;&nbsp; 23368 | 103417 |
|  |  | 346230 |
| **Containers & Packaging — 0.3%** | **Containers & Packaging — 0.3%** | **Containers & Packaging — 0.3%** |
| Elopak ASA | &nbsp;&nbsp;&nbsp; 28352 | 124158 |
| **Diversified Telecommunication Services — 5.3%** | **Diversified Telecommunication Services — 5.3%** | **Diversified Telecommunication Services — 5.3%** |
| Telenor ASA | &nbsp;&nbsp;&nbsp; 130954 | 2010673 |
| **Electronic Equipment, Instruments & Components — 1.0%** | **Electronic Equipment, Instruments & Components — 1.0%** | **Electronic Equipment, Instruments & Components — 1.0%** |
| Kitron ASA | &nbsp;&nbsp;&nbsp; 40428 | 233482 |
| NORBIT ASA | &nbsp;&nbsp;&nbsp; 7457 | 139166 |
|  |  | 372648 |
| **Energy Equipment & Services — 5.0%** | **Energy Equipment & Services — 5.0%** | **Energy Equipment & Services — 5.0%** |
| Aker Solutions ASA | &nbsp;&nbsp;&nbsp; 62802 | 205009 |
| BW Offshore Ltd. | &nbsp;&nbsp;&nbsp; 17930 | 59021 |
| DOF Group ASA | &nbsp;&nbsp;&nbsp; 31595 | 275515 |
| Odfjell Drilling Ltd. | &nbsp;&nbsp;&nbsp; 20579 | 128145 |
| Paratus Energy Services Ltd. | &nbsp;&nbsp;&nbsp; 18029 | 63633 |
| Subsea 7 SA | &nbsp;&nbsp;&nbsp; 47787 | 813726 |
| TGS ASA | &nbsp;&nbsp;&nbsp; 41928 | 344953 |
|  |  | 1890002 |
| **Food Products — 13.6%** | **Food Products — 13.6%** | **Food Products — 13.6%** |
| Austevoll Seafood ASA | &nbsp;&nbsp;&nbsp; 19399 | 176110 |
| Bakkafrost P/F | &nbsp;&nbsp;&nbsp; 10721 | 499122 |
| Grieg Seafood ASA<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 10849 | 71828 |
| Leroy Seafood Group ASA | &nbsp;&nbsp;&nbsp; 57079 | 249257 |
| Mowi ASA | &nbsp;&nbsp;&nbsp; 98978 | 1848171 |
| Orkla ASA | &nbsp;&nbsp;&nbsp; 149083 | 1690451 |
| Salmar ASA | &nbsp;&nbsp;&nbsp; 14103 | 628648 |
|  |  | 5163587 |
| **Independent Power and Renewable Electricity Producers — 0.6%** | **Independent Power and Renewable Electricity Producers — 0.6%** | **Independent Power and Renewable Electricity Producers — 0.6%** |
| Scatec ASA<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 27038 | 231799 |
| **Industrial Conglomerates — 0.7%** | **Industrial Conglomerates — 0.7%** | **Industrial Conglomerates — 0.7%** |
| Aker ASA, Class A | &nbsp;&nbsp;&nbsp; 4746 | 279615 |
| **Insurance — 7.1%** | **Insurance — 7.1%** | **Insurance — 7.1%** |
| Gjensidige Forsikring ASA | &nbsp;&nbsp;&nbsp; 42534 | 1076867 |
| Protector Forsikring ASA | &nbsp;&nbsp;&nbsp; 11405 | 451655 |
| Storebrand ASA | &nbsp;&nbsp;&nbsp; 90508 | 1185767 |
|  |  | 2714289 |
| **IT Services — 0.6%** | **IT Services — 0.6%** | **IT Services — 0.6%** |
| Atea ASA | &nbsp;&nbsp;&nbsp; 16728 | 238611 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Machinery — 2.4%** | **Machinery — 2.4%** | **Machinery — 2.4%** |
| AutoStore Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 255204 | $133907 |
| Hexagon Composites ASA<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 33507 | 58111 |
| TOMRA Systems ASA | &nbsp;&nbsp;&nbsp; 47220 | 705095 |
|  |  | 897113 |
| **Marine Transportation — 2.4%** | **Marine Transportation — 2.4%** | **Marine Transportation — 2.4%** |
| Golden Ocean Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 23324 | 179717 |
| Hoegh Autoliners ASA | &nbsp;&nbsp;&nbsp; 22314 | 185727 |
| MPC Container Ships ASA | &nbsp;&nbsp;&nbsp; 80742 | 126960 |
| Odfjell SE, Class A | &nbsp;&nbsp;&nbsp; 3858 | 41245 |
| Stolt-Nielsen Ltd. | &nbsp;&nbsp;&nbsp; 5023 | 125775 |
| Wallenius Wilhelmsen ASA | &nbsp;&nbsp;&nbsp; 22494 | 175617 |
| Wilh Wilhelmsen Holding ASA, Class A | &nbsp;&nbsp;&nbsp; 2169 | 86910 |
|  |  | 921951 |
| **Media — 3.1%** | **Media — 3.1%** | **Media — 3.1%** |
| Vend Marketplaces ASA, Class A | &nbsp;&nbsp;&nbsp; 14967 | 499117 |
| Vend Marketplaces ASA, Class B | &nbsp;&nbsp;&nbsp; 21276 | 675336 |
|  |  | 1174453 |
| **Metals & Mining — 4.3%** | **Metals & Mining — 4.3%** | **Metals & Mining — 4.3%** |
| Norsk Hydro ASA | &nbsp;&nbsp;&nbsp; 299083 | 1639588 |
| **Oil, Gas & Consumable Fuels — 18.5%** | **Oil, Gas & Consumable Fuels — 18.5%** | **Oil, Gas & Consumable Fuels — 18.5%** |
| Aker BP ASA | &nbsp;&nbsp;&nbsp; 67207 | 1546460 |
| BlueNord ASA<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 5067 | 292380 |
| BW LPG Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; 20323 | 207921 |
| DNO ASA | &nbsp;&nbsp;&nbsp; 94281 | 112281 |
| Equinor ASA | &nbsp;&nbsp;&nbsp; 178184 | 4171432 |
| Flex LNG Ltd.<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 6865 | 163430 |
| Frontline PLC, NVS<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 30896 | 559921 |
|  |  | 7053825 |
| **Passenger Airlines — 0.4%** | **Passenger Airlines — 0.4%** | **Passenger Airlines — 0.4%** |
| Norwegian Air Shuttle ASA<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 102495 | 143524 |
| **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** |
| Entra ASA<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 9684 | 112898 |
| **Semiconductors & Semiconductor Equipment — 1.2%** | **Semiconductors & Semiconductor Equipment — 1.2%** | **Semiconductors & Semiconductor Equipment — 1.2%** |
| Nordic Semiconductor ASA<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 36899 | 451735 |
| **Software — 0.6%** | **Software — 0.6%** | **Software — 0.6%** |
| Crayon Group Holding ASA<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 17178 | 239058 |
| **Total Long-Term Investments — 99.3%** <br>**(Cost: $38,271,519)** | **Total Long-Term Investments — 99.3%** <br>**(Cost: $38,271,519)** | 37799912 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 3.5%** | **Money Market Funds — 3.5%** | **Money Market Funds — 3.5%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 4.46%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;&nbsp; 1307816 | 1308339 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.30%<sup>(d)(e)</sup><br>| &nbsp;&nbsp;&nbsp; 10000 | 10000 |
| **Total Short-Term Securities — 3.5%** <br>**(Cost: $1,318,337)** | **Total Short-Term Securities — 3.5%** <br>**(Cost: $1,318,337)** | 1318339 |
| **Total Investments — 102.8%** <br>**(Cost: $39,589,856)** | **Total Investments — 102.8%** <br>**(Cost: $39,589,856)** | 39118251 |
| **Liabilities in Excess of Other Assets — (2.8)%** | **Liabilities in Excess of Other Assets — (2.8)%** | (1074688)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $38043563 |

---

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

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

------

Schedule of Investments (unaudited)(continued)

May 31, 2025

**iShares® MSCI Norway ETF**

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

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

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

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

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

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

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*08/31/24*<br>| &nbsp;&nbsp; *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*05/31/25*<br>| *Shares* <br>*Held at* <br>*05/31/25*<br>| *Income* | &nbsp;&nbsp; *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $1090558<br> $217921 <br><sup>(a)</sup><br>| $— | $155 | $(295)<br>| $1308339 | 1307816 | $7817 <br><sup>(b)</sup><br>| $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | &nbsp;&nbsp;&nbsp;&nbsp; 10000<br> 0 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10000 | 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  | $155 | $(295) | $1318339 |  | $8086 | $— |

---

&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. 

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

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | &nbsp;&nbsp; *Number of* <br>*Contracts*<br>| &nbsp;&nbsp; *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| &nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Euro STOXX 50 Index | &nbsp;&nbsp;&nbsp; 3 | 06/20/25 | &nbsp;&nbsp; $183 | $963 |
| &nbsp;&nbsp;&nbsp; Micro Euro STOXX 50 Index | &nbsp;&nbsp;&nbsp; 10 | 06/20/25 | &nbsp;&nbsp; 61 | (130) |
|  |  |  |  | $833 |

---

**Fair Value Hierarchy as of Period End** 

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:

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

• 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;&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 privately held companies or funds 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. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

------

Schedule of Investments (unaudited)(continued)

May 31, 2025

**iShares® MSCI Norway ETF**

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

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  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; $2228178 | &nbsp;&nbsp; $35571734 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $37799912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 1318339 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1318339 |
|  | &nbsp;&nbsp; $3546517 | &nbsp;&nbsp; $35571734 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $39118251 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $963 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $963 |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (130)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (130)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $833 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $833 |

---

&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.

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| NVS | Non-Voting Shares |

---

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

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 800-474-2737

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

- **a. Name of Series:** iShares MSCI Norway ETF

- **b. EDGAR series identifier (if any):** S000035389

- **c. LEI of Series:** 5493001LS8OY7OQK2M34

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $40668908.55

**Total Liabilities:** $2624908.02

**Net Assets:** $38044000.53

**Cash Not Reported:** $169634.98

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000108740 | 8.28%                | -0.95%               | 6.52%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-594515.30              | $2867194.33                                |
| Month 2  | $-3249.50                | $-548373.99                                |
| Month 3  | $2620.05                 | $1976461.46                                |

### Schedule of Portfolio Investments

| Name                                           | Title                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BW LPG Ltd                                     | BW LPG Ltd                                            | CUSIP: 000000000<br>LEI: 5493006WBEME88YFDW23 | Long             | EC               | CORP              | SG        |     20323 | NS      | $207920.94    | 0.55%             |  |  |  | No            |                  2 | On Loan: —       |
| TGS ASA                                        | TGS ASA                                               | CUSIP: 000000000<br>LEI: 549300NUPLAXPB0WYH90 | Long             | EC               | CORP              | NO        |     41928 | NS      | $344953.52    | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Cadeler A/S                                    | Cadeler A/S                                           | CUSIP: 000000000<br>LEI: 9845008439EUED140282 | Long             | EC               | CORP              | DK        |     44786 | NS      | $224149.88    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| SpareBank 1 Sor-Norge ASA                      | SpareBank 1 Sor-Norge ASA                             | CUSIP: 000000000<br>LEI: 549300Q3OIWRHQUQM052 | Long             | EC               | CORP              | NO        |     44090 | NS      | $768100.33    | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Crayon Group Holding ASA                       | Crayon Group Holding ASA                              | CUSIP: 000000000<br>LEI: 5967007LIEEXZXI98043 | Long             | EC               | CORP              | NO        |     17178 | NS      | $239057.84    | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Entra ASA                                      | Entra ASA                                             | CUSIP: 000000000<br>LEI: 549300APU14LQKTYCH34 | Long             | EC               | CORP              | NO        |     11619 | NS      | $135456.73    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Protector Forsikring ASA                       | Protector Forsikring ASA                              | CUSIP: 000000000<br>LEI: 5967007LIEEXZXAIO813 | Long             | EC               | CORP              | NO        |     11449 | NS      | $453397.38    | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Mowi ASA                                       | Mowi ASA                                              | CUSIP: 000000000<br>LEI: 549300W1OGQF5LZIH349 | Long             | EC               | CORP              | NO        |     99368 | NS      | $1855453.04   | 4.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Elopak ASA                                     | Elopak ASA                                            | CUSIP: 000000000<br>LEI: 529900BIDQN2AOKV6N08 | Long             | EC               | CORP              | NO        |     24156 | NS      | $105783.37    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontline PLC                                  | Frontline PLC                                         | CUSIP: 000000000<br>LEI: 5493004BCIKYU1YL3H63 | Long             | EC               | CORP              | CY        |     30896 | NS      | $559921.12    | 1.47%             |  |  |  | No            |                  2 | On Loan: —       |
| Kitron ASA                                     | Kitron ASA                                            | CUSIP: 000000000<br>LEI: 5967007LIEEXZXIG6009 | Long             | EC               | CORP              | NO        |     38572 | NS      | $222763.08    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| BLUENORD ASA                                   | BLUENORD ASA                                          | CUSIP: 000000000<br>LEI: 5967007LIEEXZXGE3C16 | Long             | EC               | CORP              | NO        |      5094 | NS      | $293937.63    | 0.77%             |  |  |  | No            |                  2 | On Loan: —       |
| DOF Group ASA                                  | DOF Group ASA                                         | CUSIP: 000000000<br>LEI: 213800GIV9N2A714T434 | Long             | EC               | CORP              | NO        |     31595 | NS      | $275515.28    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| AutoStore Holdings Ltd                         | AutoStore Holdings Ltd                                | CUSIP: 000000000<br>LEI: 549300KYN3M0LSM5A413 | Long             | EC               | CORP              | BM        |    237282 | NS      | $124503.17    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Paratus Energy Services Ltd                    | Paratus Energy Services Ltd                           | CUSIP: 000000000<br>LEI: 549300XB7T5BX418QX67 | Long             | EC               | CORP              | BM        |     13948 | NS      | $49228.93     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Cool Co Ltd                                    | Cool Co Ltd                                           | CUSIP: 000000000<br>LEI: 549300AQHDVKVCNIU608 | Long             | EC               | CORP              | BM        |      5057 | NS      | $30666.80     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Vend Marketplaces ASA                          | Vend Marketplaces ASA                                 | CUSIP: 000000000<br>LEI: 5967007LIEEXZXHT0O36 | Long             | EC               | CORP              | NO        |     15612 | NS      | $520625.99    | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| SpareBank 1 Nord Norge                         | SpareBank 1 Nord Norge                                | CUSIP: 000000000<br>LEI: 549300SXM92LQ05OJQ76 | Long             | EC               | CORP              | NO        |     20388 | NS      | $294238.49    | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Atea ASA                                       | Atea ASA                                              | CUSIP: 000000000<br>LEI: 5967007LIEEXZXINVS13 | Long             | EC               | CORP              | NO        |     16833 | NS      | $240108.63    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Orkla ASA                                      | Orkla ASA                                             | CUSIP: 000000000<br>LEI: 549300PZS8G8RG6RVZ52 | Long             | EC               | CORP              | NO        |    149671 | NS      | $1697118.02   | 4.46%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   1302521 | NS      | $1303041.67   | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Wallenius Wilhelmsen ASA                       | Wallenius Wilhelmsen ASA                              | CUSIP: 000000000<br>LEI: 549300NBN0URT3RA3Y54 | Long             | EC               | CORP              | NO        |     22494 | NS      | $175616.61    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Grieg Seafood ASA                              | Grieg Seafood ASA                                     | CUSIP: 000000000<br>LEI: 5967007LIEEXZXH5VC37 | Long             | EC               | CORP              | NO        |     10849 | NS      | $71827.61     | 0.19%             |  |  |  | No            |                  2 | On Loan: —       |
| Bakkafrost P/F                                 | Bakkafrost P/F                                        | CUSIP: 000000000<br>LEI: 2138007LH7OP4V112978 | Long             | EC               | CORP              | FO        |     10763 | NS      | $501077.15    | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Hoegh Autoliners ASA                           | Hoegh Autoliners ASA                                  | CUSIP: 000000000<br>LEI: 549300D7GNMPKTA4HD46 | Long             | EC               | CORP              | NO        |     24423 | NS      | $203280.99    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Elkem ASA                                      | Elkem ASA                                             | CUSIP: 000000000<br>LEI: 549300CVBE06T0SH6T76 | Long             | EC               | CORP              | NO        |     61122 | NS      | $117816.66    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Europris ASA                                   | Europris ASA                                          | CUSIP: 000000000<br>LEI: 5967007LIEEXZXGA8G28 | Long             | EC               | CORP              | NO        |     33923 | NS      | $264156.39    | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Golden Ocean Group Ltd                         | Golden Ocean Group Ltd                                | CUSIP: 000000000<br>LEI: 549300HQH91CZG0OJL61 | Long             | EC               | CORP              | BM        |     27850 | NS      | $214591.16    | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Odfjell Drilling Ltd                           | Odfjell Drilling Ltd                                  | CUSIP: 000000000<br>LEI: 529900M08ZU24JXMPB85 | Long             | EC               | CORP              | BM        |     20579 | NS      | $128145.00    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                   | DNB Bank ASA                                          | CUSIP: 000000000<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |    191202 | NS      | $5113851.01   | 13.44%            |  |  |  | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares      | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |     10000 | NS      | $10000.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                              | EURO STOXX 50 JUN25                                   | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |         4 | NC      | $3924.66      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hexagon Composites ASA                         | Hexagon Composites ASA                                | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJWMW49 | Long             | EC               | CORP              | NO        |     22672 | NS      | $39319.92     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| TOMRA Systems ASA                              | TOMRA Systems ASA                                     | CUSIP: 000000000<br>LEI: 549300J726JCFJU3VT89 | Long             | EC               | CORP              | NO        |     47423 | NS      | $708126.70    | 1.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Kongsberg Gruppen ASA                          | Kongsberg Gruppen ASA                                 | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJ9HK73 | Long             | EC               | CORP              | NO        |     18781 | NS      | $3307711.95   | 8.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurex Deutschland                              | MICRO EURO STOXX JUN25                                | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |         4 | NC      | $-171.57      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Salmar ASA                                     | Salmar ASA                                            | CUSIP: 000000000<br>LEI: 5967007LIEEXZXGDBK67 | Long             | EC               | CORP              | NO        |     14103 | NS      | $628648.33    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| DNO ASA                                        | DNO ASA                                               | CUSIP: 000000000<br>LEI: 5967007LIEEXZXH3K072 | Long             | EC               | CORP              | NO        |     94281 | NS      | $112280.81    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Austevoll Seafood ASA                          | Austevoll Seafood ASA                                 | CUSIP: 000000000<br>LEI: 5967007LIEEXZXFFDC03 | Long             | EC               | CORP              | NO        |     19399 | NS      | $176110.21    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Leroy Seafood Group ASA                        | Leroy Seafood Group ASA                               | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJ2JK50 | Long             | EC               | CORP              | NO        |     57079 | NS      | $249257.59    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker Solutions ASA                             | Aker Solutions ASA                                    | CUSIP: 000000000<br>LEI: 5967007LIEEXZXG42836 | Long             | EC               | CORP              | NO        |     58034 | NS      | $189444.25    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Stolt-Nielsen Ltd                              | Stolt-Nielsen Ltd                                     | CUSIP: 000000000<br>LEI: 213800VZX4LWJSGRLR94 | Long             | EC               | CORP              | BM        |      5023 | NS      | $125775.15    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Aker ASA                                       | Aker ASA                                              | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJ10071 | Long             | EC               | CORP              | NO        |      4746 | NS      | $279615.08    | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordic Semiconductor ASA                       | Nordic Semiconductor ASA                              | CUSIP: 000000000<br>LEI: 5967007LIEEXZXJGFK95 | Long             | EC               | CORP              | NO        |     39103 | NS      | $478717.22    | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Sparebank 1 Oestlandet                         | Sparebank 1 Oestlandet                                | CUSIP: 000000000<br>LEI: 549300VRM6G42M8OWN49 | Long             | EC               | CORP              | NO        |     10116 | NS      | $181480.79    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| SpareBank 1 SMN                                | SpareBank 1 SMN                                       | CUSIP: 000000000<br>LEI: 7V6Z97IO7R1SEAO84Q32 | Long             | EC               | CORP              | NO        |     27712 | NS      | $522702.00    | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Subsea 7 SA                                    | Subsea 7 SA                                           | CUSIP: 000000000<br>LEI: 222100AIF0CBCY80AH62 | Long             | EC               | CORP              | LU        |     48390 | NS      | $823994.16    | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Norwegian Air Shuttle ASA                      | Norwegian Air Shuttle ASA                             | CUSIP: 000000000<br>LEI: 549300IEUH2FEM2Y6B51 | Long             | EC               | CORP              | NO        |    154836 | NS      | $216817.07    | 0.57%             |  |  |  | No            |                  2 | On Loan: —       |
| FLEX LNG Ltd                                   | FLEX LNG Ltd                                          | CUSIP: 000000000<br>LEI: 21380084THHU3MPC3647 | Long             | EC               | CORP              | BM        |      6865 | NS      | $163429.96    | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| Storebrand ASA                                 | Storebrand ASA                                        | CUSIP: 000000000<br>LEI: 5967007LIEEXZX7NA051 | Long             | EC               | CORP              | NO        |     90864 | NS      | $1190430.62   | 3.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Norsk Hydro ASA                                | Norsk Hydro ASA                                       | CUSIP: 000000000<br>LEI: 549300N1SDN71ZZ8BO45 | Long             | EC               | CORP              | NO        |    300262 | NS      | $1646051.41   | 4.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Norconsult Norge AS                            | Norconsult Norge AS                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | NO        |     23368 | NS      | $103417.02    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Wilh Wilhelmsen Holding ASA                    | Wilh Wilhelmsen Holding ASA                           | CUSIP: 000000000<br>LEI: 54930050TPKOLSE1ZZ71 | Long             | EC               | CORP              | NO        |      2411 | NS      | $96606.29     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Odfjell SE                                     | Odfjell SE                                            | CUSIP: 000000000<br>LEI: 529900J8VSH14TP5VD23 | Long             | EC               | CORP              | NO        |      4584 | NS      | $49006.91     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| MPC Container Ships ASA                        | MPC Container Ships ASA                               | CUSIP: 000000000<br>LEI: 213800MXS7CXYJ2Q1805 | Long             | EC               | CORP              | NO        |     80742 | NS      | $126960.42    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| BW Offshore Ltd                                | BW Offshore Ltd                                       | CUSIP: 000000000<br>LEI: 2138008LFKH8V2EOA915 | Long             | EC               | CORP              | BM        |     17930 | NS      | $59020.71     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Vend Marketplaces ASA                          | Vend Marketplaces ASA                                 | CUSIP: 000000000<br>LEI: 5967007LIEEXZXHT0O36 | Long             | EC               | CORP              | NO        |     20615 | NS      | $654354.68    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Aker BP ASA                                    | Aker BP ASA                                           | CUSIP: 000000000<br>LEI: 549300NFTY73920OYK69 | Long             | EC               | CORP              | NO        |     67472 | NS      | $1552557.93   | 4.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Scatec ASA                                     | Scatec ASA                                            | CUSIP: 000000000<br>LEI: 5967007LIEEXZXIARK36 | Long             | EC               | CORP              | NO        |     25421 | NS      | $217936.44    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Gjensidige Forsikring ASA                      | Gjensidige Forsikring ASA                             | CUSIP: 000000000<br>LEI: 5967007LIEEXZX6FAO47 | Long             | EC               | CORP              | NO        |     42702 | NS      | $1081120.81   | 2.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Equinor ASA                                    | Equinor ASA                                           | CUSIP: 000000000<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |    178886 | NS      | $4187866.47   | 11.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Yara International ASA                         | Yara International ASA                                | CUSIP: 000000000<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | EC               | CORP              | NO        |     35351 | NS      | $1268260.95   | 3.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Telenor ASA                                    | Telenor ASA                                           | CUSIP: 000000000<br>LEI: 549300IM1QSBY4SLPM26 | Long             | EC               | CORP              | NO        |    122762 | NS      | $1884892.44   | 4.95%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer