[SCHEDULE 13G/A] iShares Trust iShares USD Systematic Bond ETF SEC Filing

Rhea-AI Filing Summary

BlackRock Portfolio Management LLC filed Amendment No. 1 to Schedule 13G disclosing its beneficial ownership in iShares Trust (CUSIP 464287150, common stock) as of 30 June 2025.

The filing shows the following ownership profile:

• Aggregate shares beneficially owned: 52,997,206
• Percent of the class: 10.2%
• Sole voting power: 38,816,036 shares
• Sole dispositive power: 52,997,206 shares
• Shared voting/dispositive power: 0 shares

The filer is classified as a Parent Holding Company / Control Person (HC) under Rule 13d-1(b)(1)(ii)(G). BlackRock states that the shares were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer. Various underlying persons may receive dividends or sale proceeds, but no single party holds more than 5% of the class on its own.

The certification is signed by Spencer Fleming, Managing Director, on 2 July 2025. Exhibit 24 (Power of Attorney) and Exhibit 99 (Item 7 subsidiary information) are referenced but not included in the text provided.

Positive

• BlackRock holds 10.2% of the outstanding shares, signaling strong institutional support and confidence in the iShares Trust.

Negative

• None.

Insights

Institutional Ownership Analyst

TL;DR – BlackRock reports a 10.2% passive stake, indicating sizable institutional ownership but no control intent.

At over 10% of outstanding shares, BlackRock’s position classifies it as a significant beneficial owner under Section 13(d). The sole voting power (38.8 million shares) versus sole dispositive power (53.0 million shares) suggests BlackRock retains flexibility to dispose of the entire stake while being more selective in exercising voting rights—typical for passive index-linked holdings. Because the filing is on Schedule 13G, not 13D, BlackRock affirms that the investment is non-activist and in the ordinary course, limiting near-term governance impact. From a liquidity perspective, the large institutional holding can reduce effective float, but the trust structure often anticipates such concentrations. Overall impact on valuation or strategy appears limited, positioning this disclosure as mainly informational.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

iSHARES TRUST

(Name of Issuer)

Common Stock

(Title of Class of Securities)

464287150

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 464287150

1

Names of Reporting Persons

BlackRock Portfolio Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 38,816,036.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 52,997,206.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

52,997,206.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.2 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: iSHARES TRUST
(b)	Address of issuer's principal executive offices: 400 HOWARD STREET, SAN FRANCISCO, CALIFORNIA, 94105
Item 2.
(a)	Name of person filing: BlackRock Portfolio Management LLC In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock Portfolio Management LLC, 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 464287150
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 52,997,206
(b)	Percent of class: 10.2%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 38,816,036
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 52,997,206
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of ISHARES CORE S&P TOTAL U.S. STOCK. No one person's interest in the common stock of ISHARES CORE S&P TOTAL U.S. STOCK is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock Portfolio Management LLC

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	07/02/2025

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

How many iShares Trust shares does BlackRock Portfolio Management LLC own?

The filing reports 52,997,206 shares beneficially owned as of 30 June 2025.

What percentage of the class does BlackRock's position represent?

BlackRock's stake amounts to 10.2% of the outstanding common shares.

Does BlackRock share voting or dispositive power with any other party?

No. The Schedule 13G states 0 shared voting and 0 shared dispositive power.

Why is the disclosure on Schedule 13G instead of Schedule 13D?

Schedule 13G is used for passive holdings; BlackRock certifies the shares were acquired in the ordinary course and not to influence control.

Who signed the Schedule 13G/A for BlackRock?

It was signed by Spencer Fleming, Managing Director, on 2 July 2025.