iShares Trust

The Markets in Review

Dear Shareholder,

The 12-month reporting period as of July 31, 2022 saw the emergence of significant challenges that disrupted the economic recovery and strong financial markets. The U.S. economy shrank in the first half of 2022, ending the run of robust growth that followed the reopening of global economies and the development of COVID-19 vaccines. Changes in consumer spending patterns and a tight labor market led to elevated inflation, which reached a 40-year high. Moreover, while the foremost effect of Russia’s invasion of Ukraine has been a severe humanitarian crisis, the ongoing war continued to present challenges for both investors and policymakers.

Equity prices fell as interest rates rose, particularly weighing on relatively high-valuation growth stocks and economically sensitive small-capitalization stocks. While both large- and small-capitalization U.S. stocks fell, declines for small-capitalization U.S. stocks were steeper. Both emerging market stocks and international equities from developed markets fell significantly, pressured by rising interest rates and a strengthening U.S. dollar.

The 10-year U.S. Treasury yield (which is inversely related to bond prices) rose notably during the reporting period as investors reacted to higher inflation and attempted to anticipate its impact on future interest rate changes. The corporate bond market also faced inflationary headwinds, and increasing uncertainty led to higher corporate bond spreads (the difference in yield between U.S. Treasuries and similarly-dated corporate bonds).

The U.S. Federal Reserve (the “Fed”), acknowledging that inflation is growing faster than expected, raised interest rates four times while indicating that additional rate hikes were likely. Furthermore, the Fed wound down its bond-buying programs and began to reduce its balance sheet. Continued high inflation and the Fed’s statements led many analysts to anticipate that interest rates have room to rise before peaking, although investors’ inflation expectations began to decline near the end of the period.

The horrific war in Ukraine has significantly clouded the outlook for the global economy, leading to major volatility in energy and metals markets. Sanctions on Russia, Europe’s top energy supplier, and general wartime disruption have magnified supply problems for key commodities. We believe elevated energy prices will continue to exacerbate inflationary pressure while also constraining economic growth. Combating inflation without stifling a recovery, while buffering against ongoing supply and price shocks, will be an especially challenging environment for setting effective monetary policy. Despite the likelihood of more rate increases on the horizon, we believe the Fed will ultimately err on the side of protecting employment, even at the expense of higher inflation. In the meantime, however, we believe that we are likely to see a period of slowing growth paired with relatively high inflation.

In this environment, while we favor an overweight to equities in the long-term, the market’s concerns over excessive rate hikes from central banks moderate our outlook. Furthermore, the energy shock and a deteriorating economic backdrop in China and Europe are likely to challenge corporate earnings, so we are underweight equities overall in the near-term. We take the opposite view on credit, where higher spreads provide near-term opportunities, while the likelihood of higher inflation leads us to take an underweight stance on credit in the long-term. We believe that investment-grade corporates, U.K. gilts, local-currency emerging market debt, and inflation-protected bonds (particularly in Europe) offer strong opportunities for a six- to twelve-month horizon.

Overall, our view is that investors need to think globally, extend their scope across a broad array of asset classes, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit iShares.com for further insight about investing in today’s markets.

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.

Total Returns as of July 31, 2022


	6-Month	12-Month
U.S. large cap equities (S&P 500^® Index)	(7.81)%	(4.64)%
U.S. small cap equities (Russell 2000^® Index)	(6.42)	(14.29)
International equities (MSCI Europe, Australasia, Far East Index)	(11.27)	(14.32)
Emerging market equities (MSCI Emerging Markets Index)	(16.24)	(20.09)
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)	0.21	0.22
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)	(6.38)	(10.00)
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)	(6.14)	(9.12)
Tax-exempt municipal bonds (Bloomberg Municipal Bond Index)	(3.95)	(6.93)
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)	(6.58)	(8.03)

Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

Global equity markets declined during the 12 months ended July 31, 2022 (“reporting period”). The MSCI ACWI, a broad global equity index that includes both developed and emerging markets, returned -10.48% in U.S. dollar terms for the reporting period.

For the first five months of the reporting period, economic recovery supported stocks in most regions of the world. The global economy continued to rebound from the impact of restrictions imposed at the beginning of the coronavirus pandemic, as mitigation and adaptation allowed most economic activity to continue. However, substantial challenges emerged at the beginning of 2022, which negatively affected stock prices. Inflation rose significantly in many countries, reducing consumers’ purchasing power and leading many central banks to tighten monetary policy. Russia’s invasion of Ukraine presented a further challenge to the global economy, disrupting important commodities markets.

The U.S. economy grew briskly over the final half of 2021, powered primarily by consumer spending. Record-high personal savings rates allowed consumers to spend at an elevated level, releasing pent-up demand for goods and services. Growth subsequently stalled in the first half of 2022, and the economy contracted amid lower inventories and faltering business investment. Despite the economic downturn, unemployment declined substantially, falling to 3.5% in July 2022 — identical to the pre-pandemic rate in February 2020. Although high inflation negatively impacted consumer sentiment, which declined significantly, consumer spending continued to increase.

Rising inflation led to a shift in policy from the U.S. Federal Reserve (“the Fed”). As the reporting period began, the Fed was using accommodative monetary policy to stimulate the economy. Short-term interest rates were kept at near-zero levels, and the Fed used bond-buying programs to stabilize debt markets. However, rising prices led the Fed to tighten monetary policy during the reporting period in an attempt to prevent runaway inflation. The Fed slowed and then ended its bond-buying activities, finally reversing course as it began to reduce its balance sheet in June 2022. In March 2022, the Fed began to raise short-term interest rates, followed by three more increases for a total increase of 225 basis points, the most rapid rise in decades. Interest rates rose significantly in response, leading to higher borrowing costs for businesses.

Stocks declined in Europe and economic growth stalled, with the Eurozone economy slowing substantially beginning in the fourth quarter of 2021. Significantly higher inflation and Russia’s invasion of Ukraine negatively impacted equities. Russia is an important trading partner with many European countries, and new sanctions imposed limits on certain types of trade with Russia. Investors became concerned that the sharp rise in energy prices during the reporting period would constrain economic growth, as Europe relies on imported energy for much of its industrial and heating needs. The European Central Bank (“ECB”) responded to elevated inflation by raising interest rates in July 2022, the first such increase in over a decade.

Despite relatively low inflation by global standards, Asia-Pacific stocks declined significantly. Chinese stocks faced significant headwinds amid regulatory interventions by the Chinese government and strict lockdowns following COVID-19 outbreaks. Japanese stocks also declined amid an economic contraction in the first quarter of 2022 and a sharp decline in the Japanese yen relative to the U.S. dollar. Emerging market stocks declined substantially, as higher interest rates and a strengthening U.S. dollar raised the cost of borrowing in many emerging economies.

The iShares Cloud 5G and Tech ETF (the “Fund”) seeks to track the investment results of an index composed of companies from developed and emerging markets that could benefit from providing products, services, and technologies related to cloud computing and 5G, as represented by the Morningstar^® Global Digital Infrastructure & Connectivity Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was June 8, 2021. The first day of secondary market trading was June 10, 2021.

Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.

Stocks of companies with significant exposure to cloud computing and 5G networking declined sharply for the reporting period. As the post-pandemic global recovery slowed, growth in demand for cloud computing declined as the need for remote work and distance education diminished. As global inflation increased, rising interest rates negatively impacted high-valuation growth-oriented stocks by lowering the current value of future earnings, decreasing demand and cash flows, and raising financing costs. High costs and technical difficulties surrounding the rollout of 5G networks also weighed on company earnings. In addition, ongoing COVID-related restrictions and disruptions to international supply chains negatively affected the market for chips used in consumer products.

U.S. equities, which represented approximately 71% of the Index on average during the reporting period, detracted the most from the Index’s return, led by the IT services industry. Revenue growth slowed and costs rose amid increasing competition for communications platforms as a service, weighing heavily on profits. In the software industry, ongoing supply chain disruptions delayed shipments of the hardware necessary for running software, leading to reduced sales. Finally, in the U.S. communication services sector, stocks in the cable and satellite industry declined due to falling subscriptions, as the trend for consumers to replace cable and satellite with streaming services continued.

The semiconductors industry in Taiwan also detracted substantially from the Index’s performance. During the reporting period, the Russian invasion of Ukraine raised concern that military force might be used against Taiwan, leading foreigners to decrease investments at a historic rate. Concerns about slowing global economic growth and rising inflation also increased outflows.

Information technology stocks in Japan also detracted meaningfully from the Index’s return, driven by the electronic components industry. Makers of components for smartphones experienced capacity shortages and production delays related to COVID-19 infections and restrictions. Additionally, the Japanese yen weakened to historic lows relative to the U.S. dollar, and the economy was challenged by a labor shortage and high oil prices.

The iShares Cybersecurity and Tech ETF (the “Fund”) seeks to track the investment results of an index composed of developed and emerging market companies that are involved in cyber security and technology, including cyber security hardware, software, products, and services, as represented by the NYSE^® FactSet^® Global Cyber Security Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was June 11, 2019. The first day of secondary market trading was June 13, 2019.

Stocks of global cybersecurity and technology companies declined substantially for the reporting period. After Russia’s invasion of Ukraine in early 2022, concerns that Russia would respond to economic sanctions by engaging in cyberattacks initially supported cybersecurity stocks. However, international technology stocks declined sharply amid slowing global economic growth as consumers shifted back from digital to real-world spending, raising concerns about demand for cybersecurity software. Rising global interest rates negatively impacted high-valuation growth-oriented stocks by lowering the current value of future earnings, decreasing demand, and raising financing costs. Increasing ransomware attacks, including high-profile attacks on large corporations and national governments, led to increased demand for cybersecurity systems, bolstering revenues.

U.S. equities, which represented approximately 78% of the Index on average during the reporting period, detracted the most from the Index’s return. In the software industry, the coronavirus pandemic drove strong demand for software for securely creating and signing digital documents. As many businesses returned to in-person work in 2022, growth in demand for digital signatures slowed sharply. Despite rising revenues, stocks of digital document management companies declined as relatively high valuations led investors to closely scrutinize earnings. In addition, stocks of a company that manages information during emergencies, which benefited from strong demand during the pandemic, declined sharply amid slowing demand and the departure of the company’s chief executive officer. The U.S. internet services and infrastructure industry was also a significant detractor. While demand for software to combat ongoing ransomware attacks grew, stock of a user authentication company declined sharply after the company experienced a data breach.

The Canadian software industry detracted modestly from the Index’s return despite strength in sales of cybersecurity software to protect cloud computing platforms. The ongoing war between Russian and Ukraine and rising interest rates pressured stocks in the software industry as investors sought less volatility. In Israel, sales and revenues in the software industry weakened amid ongoing supply-chain challenges.

The iShares Exponential Technologies ETF (the “Fund”) seeks to track the investment results of an index composed of stocks of developed and emerging market companies that create or use exponential technologies, as represented by the Morningstar^® Exponential Technologies Index^SM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was March 19, 2015. The first day of secondary market trading was March 23, 2015.

Stocks of global companies that create or use exponential technologies declined sharply for the reporting period. As global inflation increased, rising interest rates negatively impacted high-valuation growth-oriented stocks by lowering the current value of future earnings, decreasing demand and cash flows, and raising financing costs. Additionally, in-person work and commerce resumed, driving down demand for software and online services.

Stocks in the U.S., which represented approximately 61% of the Index on average during the reporting period, were the main detractors from the Index’s performance, led by the information technology sector. In the internet services and infrastructure industry, stocks of cloud software companies declined despite rising revenues, as relatively high valuations led investors to closely scrutinize earnings. While demand for software to combat ongoing ransomware attacks grew, stock of a user authentication company declined sharply after the company experienced a data breach.

Online payment company stocks also detracted from the Index’s return, reflecting ongoing disruptions to supply chains and a decrease in online shopping. In addition, a sharp fall in the price of Bitcoin negatively impacted financial technology companies holding cryptocurrencies on their balance sheet. In the software industry, stocks declined amid increased competition in the market for online video collaboration solutions and declining demand for teleconferencing software. The U.S. healthcare sector was also a detractor, as the healthcare equipment industry declined amid pandemic-related supply chain disruptions and reductions in robot-assisted surgeries.

Exponential technology stocks in China also weighed on the Index’s performance. In the biotechnology industry, an experimental drug developed to treat cancer failed to receive approval from an American regulator. Tension between the U.S. and China over companies’ accounting practices also raised the possibility of the delisting of some Chinese companies from American stock exchanges.

Japanese industrials stocks were also modest detractors from the Index’s return, driven in part by a sharp decline in the Japanese yen relative to the U.S. dollar. The industrial machinery industry detracted the most as Japan’s industrial production fell to historic lows amid ongoing parts and labor shortages.

The iShares Genomics Immunology and Healthcare ETF (the “Fund”) seeks to track the investment results of an index composed of developed and emerging market companies that could benefit from the long-term growth and innovation in genomics, immunology and bioengineering, as represented by the NYSE^® FactSet Global Genomics and Immuno Biopharma Index^TM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was June 11, 2019. The first day of secondary market trading was June 13, 2019.

Global genomics, immunology, and healthcare stocks declined significantly during the reporting period as the rising interest-rate environment weighed on high-valuation stocks, reduced growth, and cooled capital flows. Recurring COVID-19 outbreaks added to the uncertain market environment, as drugmakers contended with mismatches between vaccine supply and demand. Supply chain delays and rising input costs also impacted biotechnology companies’ ability to meet global demands. Merger and acquisition activity among biotechnology and pharmaceutical companies decreased to one of the lowest levels in the last decade amid heightened regulatory scrutiny. In this environment, the number of new biotechnology initial public offerings diminished after two record-setting years.

U.S. stocks, which represented approximately 65% of the Index on average during the reporting period, detracted the most from the Index’s return. The U.S. biotechnology industry in particular weighed heavily on the Index’s performance as declining COVID-19 vaccine sales and research funding pressured the earnings of biotechnology companies. The development of a new vaccine targeting the omicron variant coincided with declining case rates and raised doubts about the necessity of variant-specific vaccines. Competition from the introduction of new treatments for COVID-19 further constrained the industry, particularly for less diversified biotechnology companies that derive nearly all their revenue from vaccines. The significant stock price declines and concerns about the continued availability of research funding led to cost-cutting and layoffs at younger, smaller biotechnology firms.

German and Hong Kong biotechnology industries also detracted from the Index’s performance. Following the reduction in COVID-19 vaccine demand in Europe and North America, German vaccine developers declined amid growing concerns about the sustainability of revenue growth. New investment flows also subsided significantly as financial markets shifted away from the biotechnology industry. In Hong Kong, a Chinese biotechnology company’s stock that is also listed in the U.S. and mainland China declined after an announcement by the Securities and Exchange Commission that it was increasing regulatory scrutiny of Chinese stocks co-listed in the U.S.

The iShares Robotics and Artificial Intelligence Multisector ETF (the “Fund”) seeks to track the investment results of an index composed of developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies and artificial intelligence, as represented by the NYSE^® FactSet^® Global Robotics and Artificial Intelligence Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was June 26, 2018. The first day of secondary market trading was June 28, 2018.

The Index declined substantially during the reporting period as robotics and artificial intelligence stocks fell amid increasingly challenging global economic conditions. As inflation increased, rising interest rates negatively impacted high-valuation growth-oriented stocks by lowering the current value of future earnings, decreasing demand and cash flows, and raising financing costs.

U.S. equities, which represented approximately 55% of the Index on average for the reporting period, detracted the most from the Index’s return. In the software industry, an increasingly competitive market weighed on companies even as demand remained robust for cloud-based software that uses artificial intelligence to analyze large amounts of data. An unfavorable verdict against a software company in a court case about trade secrets also contributed to the decline. Rising costs due to supply chain disruptions further pressured profitability at a time when stocks’ relatively high valuations led investors to closely scrutinize earnings. The U.S. communication services sector also detracted from the Index’s return as slowing demand for digital advertisements weighed on interactive media and services companies. Amid the global economic slowdown and rising inflation, prices for online advertisements declined, weighing on sales revenues. Social media platform companies faced challenges from changes to corporate policies designed to increase user privacy, making targeted advertising on mobile devices more difficult. Additionally, high content licensing fees offset strong revenues from sports-related streaming, reducing profits.

Chinese stocks also detracted substantially from the Index’s return, particularly the communication services sector. The entertainment industry weakened as China’s government announced plans to implement regulations limiting certain financial transactions and content on livestreaming platforms. Revenues from online advertising fell as companies curtailed popular content in response. The interactive media and services industry also declined as increased governmental scrutiny weighed on mobile marketing revenue. In addition, a U.S. regulator started a process to delist Chinese companies from the American stock exchange due to audit oversight concerns. Japanese stocks were another detractor as the Japanese yen depreciated significantly relative to the U.S. dollar, weighing on returns for U.S. investors.

The iShares Self-Driving EV and Tech ETF (the “Fund”) seeks to track the investment results of an index composed of developed and emerging market companies that may benefit from growth and innovation in and around electric vehicles, battery technologies and autonomous driving technologies, as represented by the NYSE^® FactSet Global Autonomous Driving and Electric Vehicle Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was April 16, 2019. The first day of secondary market trading was April 18, 2019.

Stocks of companies related to innovation in electric vehicles (“EVs”) and self-driving cars declined significantly for the reporting period. Although demand for EVs continued to rise, bolstered by the introduction of lower-priced models and government subsidies, limited supply constrained industry growth. Ongoing supply chain disruptions, including coronavirus-related restrictions in China, led to decreased EV production. In addition, rising input costs led some manufacturers to increase vehicle prices. The conflict between Russia and Ukraine exacerbated higher materials costs, especially for the metals used in the production of batteries, a key bottleneck in EV production.

Stocks in the U.S., which represented about 54% of the Index on average, detracted the most from the Index’s return, driven by the automobiles industry. Disruptions to supply chains and an ongoing shortage of semiconductors impeded overall automobile production, keeping EV production well below factory capacity. Rising interest rates increased the cost of automobile loans and clouded the outlook for automobile sales. Manufacturing defects that created a risk of an electric car battery catching fire led to a costly recall and steep price cuts, despite limited supply. In addition, new fuel efficiency regulations requiring manufacturers to build a larger fraction of EVs, which are more costly to produce, pressured automakers.

German automobile stocks also weighed on the Index’s performance. While demand for automobiles, and EVs in particular, remained strong, chip shortages and difficulties with European energy supplies led to reduced production volumes and sales in the automobiles industry. The conflict in Ukraine created a shortage of parts that German automobiles companies use to run their plants, forcing temporary factory closures, which further constrained production.

The South Korean information technology sector also detracted significantly from the Index’s return. In the technology hardware and equipment industry, a semiconductor manufacturer declined sharply amid decreased demand for smartphones and other consumer electronics due to slowing economic growth and new pandemic-related restrictions in Asia. Amid shrinking demand, the price of memory chips declined, reducing profits.

The iShares U.S. Tech Breakthrough Multisector ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. companies that could benefit from various breakthrough technologies, including robotics and artificial intelligence, cloud and data tech, cybersecurity, genomics and immunology, and financial technology, as represented by the NYSE^® FactSet^® U.S. Tech Breakthrough Index^TM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was January 8, 2020. The first day of secondary market trading was January 10, 2020.

U.S. stocks poised to benefit from breakthrough technologies declined sharply for the reporting period. As consumers and workers continued to return to in-person shopping and offices, sales growth for some software and online services abated. Amid rising global inflation, higher interest rates negatively impacted high valuation growth-oriented stocks by decreasing demand and raising financing costs.

The information technology sector detracted the most from the Index’s return, driven by the software industry. At the beginning of the coronavirus pandemic, a shift to remote work strengthened demand for software for creating and signing digital documents. However, as pandemic-related restrictions eased and businesses returned to in-person work, the need for digital document solutions diminished. The Russian invasion of Ukraine led some companies in the industry to suspend operations in Russia, further reducing software sales. The information technology services industry was also a substantial detractor. A large online payment company declined due to ongoing disruptions to supply chains and a decrease in online shopping. Earnings growth slowed amid reduced government stimulus spending and labor shortages. Additionally, the high-interest-rate environment constrained the growth of small businesses, lowering the demand for loans from financial technology companies. A sharp decline in the price of Bitcoin negatively impacted financial technology companies holding cryptocurrencies on their balance sheet. While demand for software to combat ransomware attacks grew, the stock of a user authentication company declined sharply after the company experienced a data breach.

The communication services sector also detracted significantly from the Index’s performance. Growth in demand for digital advertisements in the interactive media and services industry slowed considerably amid the Russian invasion of Ukraine and the broader global economic slowdown. As inflation rose, prices for online ads dropped and revenues declined. Stocks of social media platform companies were also challenged by increased competition for digital advertising and a mobile device maker’s new user privacy policy that made targeted advertisements more difficult.

The iShares Virtual Work and Life Multisector ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. and non-U.S. companies that provide products, services and technologies that empower individuals to work remotely, and support an increasingly virtual way of life across entertainment, wellness and learning, as represented by the NYSE^® FactSet^® Global Virtual Work and Life Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was September 29, 2020. The first day of secondary market trading was October 1, 2020.

Stocks of companies that help people work, play, or study from home declined sharply during the reporting period as consumers shifted back from working and shopping online to in-person experiences. As global inflation increased, rising interest rates negatively impacted the highest valuation growth-oriented technology stocks by decreasing demand and raising financing costs.

U.S. equities, which represented approximately 62% of the Index on average during the reporting period, detracted the most from the Index’s return, led by the information technology sector. At the beginning of the coronavirus pandemic, the software industry benefited from the need for remote work and school, leading to strong demand for related software, such as tools for securely signing digital documents and videoconferencing. However, as restrictions eased, businesses and schools returned to in-person work, sharply weighing on demand. Competition from other makers of remote meeting solutions intensified, pressuring profits. In addition, the stocks of a company that manages information during emergencies declined sharply amid a disruptive leadership change.

The U.S. communication services sector also detracted significantly from the Index’s return. In the entertainment industry, despite increasing revenues, media streaming technology companies declined as relatively high valuations led investors to scrutinize earnings growth. Additionally, growth in consumer spending on digital entertainment slowed as inflation grew. In the interactive media and services industry, demand for digital advertisements declined amid the broader global economic slowdown and the war in Ukraine, which also adversely affected subscriber growth.

Chinese stocks also detracted from the Index’s return, particularly in the communication services sector. New government regulations restricted certain financial transactions and limited content on livestreaming platforms. Revenues declined in the entertainment industry amid reduced online advertising and lower subscriptions due to increased competition. New video-gaming regulations negatively impacted profits in the interactive media and services industry, and slowing economic growth weighed on advertising revenue. The German consumer discretionary sector also detracted from the Index’s performance as easing pandemic-related restrictions reduced demand for online delivery services.

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.

Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not trade in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary market trading in shares of the fund, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.

An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.

Shareholders of each Fund may incur the following charges: (1) transactional expenses, including brokerage commissions on purchases and sales of fund shares and (2) ongoing expenses, including management fees and other fund expenses. The expense examples shown (which are based on a hypothetical investment of $1,000 invested at the beginning of the period and held through the end of the period) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other funds.

The expense examples provide information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”

The expense examples also provide information about hypothetical account values and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in a Funds and other funds, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect any transactional expenses, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing expenses only and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.


Security	Shares		Value

Common Stocks

Chemicals — 2.8%
DuPont de Nemours Inc.		3,240	$	198,385


Communications Equipment — 17.6%
Arista Networks Inc.^(a)		2,028		236,526
Ciena Corp.^(a)		4,108		211,973
F5 Inc.^(a)		1,112		186,104
Juniper Networks Inc.		7,844		219,867
Nokia OYJ		43,452		226,323
Telefonaktiebolaget LM Ericsson, Class B		24,796		188,605

				1,269,398

Construction & Engineering — 2.5%
China Communications Services Corp. Ltd., Class H		80,000		32,525
COMSYS Holdings Corp.		4,400		88,397
EXEO Group Inc.		3,600		60,321

				181,243

Diversified Telecommunication Services — 1.7%
Cogent Communications Holdings Inc.		1,455		92,844
NOS SGPS SA		7,196		27,168

				120,012

Electronic Equipment, Instruments & Components — 7.2%
Murata Manufacturing Co. Ltd.		3,200		186,914
Quectel Wireless Solutions Co. Ltd., Class A		520		12,103
Taiyo Yuden Co. Ltd.		4,400		156,376
Yageo Corp.		14,000		161,645

				517,038

Equity Real Estate Investment Trusts (REITs) — 0.9%
Keppel DC REIT		42,900		64,322


IT Services — 2.0%
Computacenter PLC		3,136		99,142
Kingsoft Cloud Holdings Ltd., ADR^(a)		3,465		11,365
Megaport Ltd.^(a)		5,304		36,417

				146,924

Media — 1.9%
DISH Network Corp., Class A^(a)		7,864		136,598


Semiconductors & Semiconductor Equipment — 36.3%
Analog Devices Inc.		1,364		234,554
Broadcom Inc.		432		231,327
Infineon Technologies AG		5,513		151,191
Intel Corp.		4,940		179,371
MACOM Technology Solutions Holdings Inc., Class H^(a)		1,546		89,575
MediaTek Inc.		6,000		138,241
Microchip Technology Inc.		2,916		200,796
NXP Semiconductors NV		1,112		204,475


Security	Shares		Value

Semiconductors & Semiconductor Equipment (continued)
Qorvo Inc.^(a)		1,576	$	164,014
Qualcomm Inc.		1,396		202,504
Skyworks Solutions Inc.		1,588		172,901
STMicroelectronics NV		5,200		196,786
Taiwan Semiconductor Manufacturing Co. Ltd.		12,000		205,795
Win Semiconductors Corp.		13,000		69,057
Wolfspeed Inc.^(a)		2,052		170,932

				2,611,519

Software — 22.7%
C3.ai Inc., Class A^(a)		2,676		49,265
Cadence Design Systems Inc.^(a)		1,379		256,604
Citrix Systems Inc.		3,084		312,748
Datadog Inc., Class A^(a)(b)		1,396		142,406
Dropbox Inc., Class A^(a)		10,132		230,402
New Relic Inc.^(a)		2,153		130,623
Nutanix Inc., Class A^(a)		6,964		105,365
Synopsys Inc.^(a)		700		257,250
Teradata Corp.^(a)		3,792		145,196

				1,629,859

Technology Hardware, Storage & Peripherals — 4.1%
Pure Storage Inc., Class A^(a)		7,672		217,501
Wiwynn Corp.		3,000		74,210

				291,711


Total Long-Term Investments — 99.7% (Cost: $8,622,711)				7,167,009


Short-Term Securities

Money Market Funds — 1.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(c)(d)(e)		133,735		133,722


Total Short-Term Securities — 1.8% (Cost: $133,722)				133,722


Total Investments in Securities — 101.5% (Cost: $8,756,433)				7,300,731

Liabilities in Excess of Other Assets — (1.5)%				(110,344	)


Net Assets — 100.0%			$	7,190,387

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan. (c) Affiliate of the Fund.

^(d)	Annualized 7-day yield as of period end.

^(e)	All or a portion of this security was purchased with the cash collateral from loaned securities.

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

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.

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


Security	Shares		Value

Common Stocks

Communications Equipment — 9.1%
Accton Technology Corp.		1,476,000	$	12,318,510
ADTRAN Holdings Inc. ^(a)		149,134		3,592,638
Calix Inc.^(a)(b)		175,224		9,994,777
Juniper Networks Inc.		730,135		20,465,684
Radware Ltd.^(a)		125,003		2,891,319


				49,262,928

IT Services — 9.2%
Akamai Technologies Inc.^(a)(b)		221,970		21,357,953
Change Inc.		136,700		2,070,640
My EG Services Bhd		13,791,000		2,407,263
Okta Inc.^(a)		228,200		22,466,290
Secunet Security Networks AG		4,116		1,190,604


				49,492,750

Professional Services — 13.1%
Booz Allen Hamilton Holding Corp.		255,292		24,502,926
CACI International Inc., Class A^(a)(b)		70,815		21,406,666
ManTech International Corp./VA, Class A		84,380		8,085,292
Science Applications International Corp.		170,907		16,555,761


				70,550,645

Software — 68.5%
A10 Networks Inc.		201,096		2,998,341
Absolute Software Corp.		165,825		1,529,338
Ahnlab Inc.		18,982		1,301,624
Alarm.com Holdings Inc.^(a)(b)		147,030		10,405,313
BlackBerry Ltd.^(a)(b)		1,768,410		10,868,288
Check Point Software Technologies Ltd.^(a)		171,696		21,393,322
Citrix Systems Inc.		219,622		22,271,867
Clear Secure Inc., Class A^(a)		176,988		4,481,336
Crowdstrike Holdings Inc., Class A^(a)		137,593		25,262,075
CyberArk Software Ltd.^(a)		122,892		15,991,936
Darktrace PLC^(a)		856,435		3,932,427
Digital Arts Inc.		7,000		346,513
DocuSign Inc.^(a)(b)		270,235		17,289,635
Everbridge Inc.^(a)		79,534		1,999,485
Fortinet Inc.^(a)		375,916		22,423,389
Kape Technologies PLC^(a)		495,962		1,805,908
KnowBe4 Inc., Class A^(a)		222,558		3,180,354
Mandiant Inc.^(a)(b)		695,729		15,848,707
Micro Focus International PLC		1,053,112		3,668,638
Netcompany Group A/S^(a)(c)		139,356		7,814,706


Security	Shares		Value

Software (continued)
OneSpan Inc.^(a)(b)		122,270	$	1,353,529
Palo Alto Networks Inc.^(a)(b)		43,366		21,643,971
Ping Identity Holding Corp.^(a)		218,148		3,741,238
Qualys Inc.^(a)		106,722		13,054,235
Rapid7 Inc.^(a)(b)		176,249		11,274,649
SailPoint Technologies Holdings Inc.^(a)		283,122		18,054,690
SentinelOne Inc., Class A^(a)		564,774		14,034,634
TeamViewer AG^(a)(c)		470,694		4,900,712
Telos Corp.^(a)(b)		159,433		1,265,898
Tenable Holdings Inc.^(a)		323,694		12,510,773
Trend Micro Inc/Japan		398,000		23,129,453
Varonis Systems Inc.^(a)(b)		332,740		8,461,578
VMware Inc., Class A		169,186		19,659,413
Zscaler Inc.^(a)(b)		142,300		22,065,038


				369,963,013


Total Long-Term Investments — 99.9% (Cost: $575,150,643)				539,269,336


Short-Term Securities

Money Market Funds — 10.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(d)(e)(f)		56,054,306		56,048,701
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(d)(e)		510,000		510,000


Total Short-Term Securities — 10.5% (Cost: $56,545,001)				56,558,701


Total Investments in Securities — 110.4% (Cost: $631,695,644)				595,828,037

Liabilities in Excess of Other Assets — (10.4)%				(55,939,440	)


Net Assets — 100.0%			$	539,888,597

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	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.

^(d)	Affiliate of the Fund.

^(e)	Annualized 7-day yield as of period end.

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

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Australia — 3.7%
IRESS Ltd.		2,243,753	$	17,992,731
Megaport Ltd.^(a)		1,400,746		9,617,431
Nanosonics Ltd.^(a)(b)		4,878,522		16,230,642
Netwealth Group Ltd.		1,825,618		16,585,600
NEXTDC Ltd.^(a)		2,332,152		19,414,099
Technology One Ltd.		2,282,974		18,942,446
WiseTech Global Ltd.		545,898		19,332,766


				118,115,715

Canada — 1.2%
Bausch Health Companies Inc.^(a)		1,066,098		4,911,935
BlackBerry Ltd.^(a)(b)		2,556,225		15,710,039
Descartes Systems Group Inc. (The)^(a)		134,943		9,321,821
Shopify Inc., Class A^(a)		209,375		7,293,912


				37,237,707

China — 5.1%
3SBio Inc.^(c)		23,256,000		15,479,803
Alibaba Group Holding Ltd.^(a)		1,303,500		14,655,861
Baidu Inc.^(a)		1,084,200		18,739,744
China Datang Corp. Renewable Power Co. Ltd.,
Class H^(b)		57,367,000		15,570,282
China Longyuan Power Group Corp. Ltd., Class H		10,866,000		17,456,876
China Resources Power Holdings Co. Ltd.		2,610,000		4,913,956
Genscript Biotech Corp.^(a)		4,474,000		16,198,747
I-Mab, ADR^(a)		276,480		2,897,511
Innovent Biologics Inc.^(a)(c)		956,500		3,998,218
Shanghai Junshi Biosciences Co. Ltd., Class A^(a)		2,425,884		22,058,391
Tencent Holdings Ltd.		352,000		13,604,382
Wuxi Biologics Cayman Inc., New^(a)(c)		1,749,000		16,741,627


				162,315,398

Denmark — 1.1%
Orsted A/S^(c)		166,950		19,435,756
Vestas Wind Systems A/S		633,947		16,662,489


				36,098,245

Finland — 1.0%
Nokia OYJ		3,514,678		18,306,481
Wartsila OYJ Abp		1,578,600		13,870,419


				32,176,900

France — 1.7%
Capgemini SE		88,381		16,857,512
Dassault Systemes SE		362,412		15,544,456
Sanofi		210,892		20,957,080


				53,359,048

Germany — 1.9%
Infineon Technologies AG		434,831		11,925,008
Merck KGaA		80,430		15,318,747
QIAGEN NV^(a)		373,641		18,725,681
SAP SE		150,895		14,074,385


				60,043,821

India — 1.5%
Infosys Ltd.		867,908		17,025,076
Tata Consultancy Services Ltd.		419,511		17,547,633
Wipro Ltd.		2,416,739		12,895,259


				47,467,968

Israel — 0.5%
Nice Ltd.^(a)		66,801		14,261,834


Security	Shares		Value

Japan — 6.8%
Chugai Pharmaceutical Co. Ltd.		659,600	$	18,530,001
Denso Corp.		295,300		16,151,452
FANUC Corp.		104,900		18,091,102
Harmonic Drive Systems Inc.^(b)		534,900		20,394,044
Murata Manufacturing Co. Ltd.		295,000		17,231,155
Nabtesco Corp.		347,900		8,337,824
Nidec Corp.		115,600		8,033,512
Rakuten Group Inc.		329,800		1,634,996
SoftBank Group Corp.		463,711		19,479,003
Taiyo Yuden Co. Ltd.		403,100		14,326,188
Takeda Pharmaceutical Co. Ltd.		794,904		23,322,636
TDK Corp.		556,700		17,533,070
Tokyo Electron Ltd.		42,200		14,524,963
Yaskawa Electric Corp.^(b)		453,900		15,897,344


				213,487,290

Netherlands — 2.5%
Adyen NV^(a)(c)		7,201		12,952,956
ASM International NV		48,160		14,793,386
ASML Holding NV		25,218		14,494,244
NXP Semiconductors NV		90,732		16,683,800
TomTom NV^(a)(b)		2,228,066		20,141,040


				79,065,426

Singapore — 0.5%
Keppel DC REIT		11,444,700		17,159,718


South Korea — 0.9%
Samsung SDI Co. Ltd.		33,389		14,676,120
SK Hynix Inc.		199,266		15,063,871


				29,739,991

Spain — 0.5%
Siemens Gamesa Renewable Energy SA^(a)		817,982		15,050,261


Sweden — 0.5%
Telefonaktiebolaget LM Ericsson, Class B		1,939,612		14,753,161


Switzerland — 3.4%
ABB Ltd., Registered		544,819		16,562,280
CRISPR Therapeutics AG^(a)(b)		261,067		19,580,025
Novartis AG, Registered		247,603		21,276,434
Roche Holding AG, NVS		49,880		16,560,385
STMicroelectronics NV		430,256		16,282,403
TE Connectivity Ltd.		133,854		17,900,296


				108,161,823

Taiwan — 1.7%
Hon Hai Precision Industry Co. Ltd.		5,846,000		21,365,642
MediaTek Inc.		588,000		13,547,566
Taiwan Semiconductor Manufacturing Co. Ltd.		1,039,000		17,818,398
Win Semiconductors Corp.		302,000		1,604,253


				54,335,859

United Kingdom — 3.4%
AstraZeneca PLC		195,930		25,772,869
GSK PLC		1,001,445		21,040,563
Ocado Group PLC^(a)		70,986		729,754
Sage Group PLC (The)		2,066,353		17,808,063
Spirax-Sarco Engineering PLC		106,563		15,548,493
Subsea 7 SA		2,790,457		25,149,209


				106,048,951

United States — 60.6%
AbbVie Inc.		165,437		23,741,864
Accenture PLC, Class A		59,202		18,131,204


Security	Shares		Value

United States (continued)
Advanced Micro Devices Inc.^(a)		145,836	$	13,777,127
Agilent Technologies Inc.		128,986		17,297,023
Akamai Technologies Inc.^(a)		187,978		18,087,243
Albemarle Corp.^(b)		76,186		18,613,002
Alnylam Pharmaceuticals Inc.^(a)(b)		115,950		16,469,538
Alphabet Inc., Class A^(a)		142,320		16,554,662
Amazon.com Inc.^(a)		129,207		17,436,485
Analog Devices Inc.		112,910		19,416,004
Ansys Inc.^(a)(b)		51,718		14,428,805
Apple Inc.		115,475		18,765,842
Applied Materials Inc.		143,077		15,163,300
Aptiv PLC^(a)		51,999		5,454,175
Arista Networks Inc.^(a)		162,308		18,929,982
Aspen Technology Inc.^(a)(b)		56,383		11,507,206
Autodesk Inc.^(a)		73,991		16,005,733
Beam Therapeutics Inc.^(a)(b)		254,151		16,006,430
Biogen Inc.^(a)		86,277		18,554,732
BioMarin Pharmaceutical Inc.^(a)		246,171		21,183,015
Blackbaud Inc.^(a)		282,898		17,347,305
BlackRock Inc.^(d)		21,823		14,603,515
Block Inc.^(a)(b)		53,361		4,058,638
Bristol-Myers Squibb Co.		355,191		26,205,992
Broadcom Inc.		36,210		19,389,731
Broadridge Financial Solutions Inc.^(b)		118,614		19,043,478
Cadence Design Systems Inc.^(a)		110,293		20,523,321
CF Industries Holdings Inc.		335,547		32,041,383
Cisco Systems Inc.		388,285		17,616,490
Citrix Systems Inc.		246,272		24,974,443
Cogent Communications Holdings Inc.		288,009		18,377,854
Cognizant Technology Solutions Corp., Class A		255,799		17,384,100
Coupa Software Inc.^(a)		142,833		9,344,135
Crowdstrike Holdings Inc., Class A^(a)		98,619		18,106,448
Denali Therapeutics Inc.^(a)(b)		250,975		8,538,169
DISH Network Corp., Class A^(a)(b)		204,908		3,559,252
Dropbox Inc., Class A^(a)		823,333		18,722,592
DuPont de Nemours Inc.		257,972		15,795,626
Edwards Lifesciences Corp.^(a)(b)		183,679		18,467,087
Eli Lilly & Co.		82,522		27,206,678
Enphase Energy Inc.^(a)		89,366		25,396,030
Envestnet Inc.^(a)(b)		232,373		13,540,375
Exelixis Inc.^(a)(b)		1,199,855		25,100,967
F5 Inc.^(a)		88,098		14,744,081
Fastly Inc., Class A^(a)		613,253		6,972,687
First Solar Inc.^(a)		221,308		21,947,114
Fortinet Inc.^(a)		321,122		19,154,927
Gilead Sciences Inc.		289,224		17,281,134
Guardant Health Inc.^(a)(b)		231,891		11,633,971
Guidewire Software Inc.^(a)(b)		177,278		13,778,046
Hewlett Packard Enterprise Co.		1,404,083		19,994,142
Hubbell Inc.		101,682		22,270,392
Illumina Inc.^(a)(b)		56,940		12,337,759
Incyte Corp.^(a)		196,034		15,227,921
Intel Corp.		389,599		14,146,340
Intellia Therapeutics Inc.^(a)(b)		200,169		12,962,944
International Business Machines Corp.		163,893		21,435,565
Intuit Inc.		31,095		14,184,606
Intuitive Surgical Inc.^(a)		61,392		14,130,597
Ionis Pharmaceuticals Inc.^(a)(b)		627,789		23,579,755
Jazz Pharmaceuticals PLC^(a)		172,192		26,872,283
Johnson & Johnson		122,684		21,410,812


Security	Shares		Value

United States (continued)
Juniper Networks Inc.		674,596	$	18,908,926
KLA Corp.		52,148		20,000,844
Lam Research Corp.		28,453		14,241,011
Livent Corp.^(a)(b)		709,037		17,647,931
Lumen Technologies Inc.		1,675,469		18,245,857
Mandiant Inc.^(a)		1,271,852		28,972,789
Manhattan Associates Inc.^(a)		130,221		18,318,188
Marqeta Inc., Class A^(a)(b)		213,424		2,046,736
MercadoLibre Inc.^(a)(b)		7,713		6,276,145
Merck & Co. Inc.		282,108		25,203,529
Meta Platforms Inc, Class A^(a)		65,312		10,391,139
Microchip Technology Inc.		237,266		16,338,137
Micron Technology Inc.		237,368		14,683,584
Microsoft Corp.		60,190		16,897,741
Moderna Inc.^(a)		62,683		10,285,653
MongoDB Inc.^(a)		20,842		6,512,500
Myriad Genetics Inc.^(a)(b)		812,836		21,442,614
NortonLifeLock Inc.		828,766		20,329,630
Nvidia Corp.		73,555		13,359,795
Okta Inc.^(a)		101,653		10,007,738
Oracle Corp.		247,439		19,260,652
Palantir Technologies Inc., Class A^(a)(b)		698,599		7,230,500
Palo Alto Networks Inc.^(a)(b)		37,996		18,963,804
Paylocity Holding Corp.^(a)(b)		88,073		18,136,873
PayPal Holdings Inc.^(a)		124,460		10,769,524
Pegasystems Inc.		95,952		3,852,473
PTC Inc.^(a)		167,881		20,713,158
Qorvo Inc.^(a)		139,395		14,506,838
Qualcomm Inc.		110,736		16,063,364
Regeneron Pharmaceuticals Inc.^(a)(b)		31,209		18,153,963
RingCentral Inc., Class A^(a)		125,714		6,221,586
Rocket Companies Inc., Class A^(b)		1,391,317		13,245,338
Sabre Corp.^(a)(b)		2,218,644		13,644,661
Salesforce Inc.^(a)		76,553		14,087,283
Seagen Inc.^(a)		137,391		24,727,632
SEI Investments Co.		335,005		18,545,877
Sensata Technologies Holding PLC		349,134		15,525,989
ServiceNow Inc.^(a)		31,441		14,043,437
Shoals Technologies Group Inc., Class A^(a)		709,008		16,753,859
Skyworks Solutions Inc.		140,249		15,270,311
Snowflake Inc., Class A^(a)(b)		66,147		9,916,097
SoFi Technologies Inc.^(a)(b)		1,702,619		10,743,526
SolarEdge Technologies Inc.^(a)		60,993		21,965,409
Splunk Inc.^(a)		168,817		17,541,774
SS&C Technologies Holdings Inc.		261,854		15,493,901
Synaptics Inc.^(a)		14,028		2,033,359
Synopsys Inc.^(a)		55,335		20,335,612
Teladoc Health Inc.^(a)(b)		226,218		8,336,133
Tesla Inc.^(a)(b)		20,759		18,505,611
Texas Instruments Inc.		104,493		18,692,753
Thermo Fisher Scientific Inc.		34,284		20,515,888
Twilio Inc., Class A^(a)		93,343		7,915,486
Tyler Technologies Inc.^(a)		42,212		16,842,588
VMware Inc., Class A		175,656		20,411,227
Zendesk Inc.^(a)		194,990		14,706,146
Zscaler Inc.^(a)(b)		33,912		5,258,395


				1,913,973,571


Total Common Stocks — 98.5% (Cost: $2,875,339,532)				3,112,852,687


Security	Shares		Value

Preferred Stocks

Chile — 1.1%
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares		352,556	$	35,016,546


Total Preferred Stocks — 1.1% (Cost: $20,339,304)				35,016,546


Total Long-Term Investments — 99.6% (Cost: $2,895,678,836)				3,147,869,233


Short-Term Securities

Money Market Funds — 5.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(d)(e)(f)		164,947,374		164,930,879
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(d)(e)		5,890,000		5,890,000


Total Short-Term Securities — 5.4% (Cost: $170,796,470)				170,820,879


Total Investments in Securities — 105.0% (Cost: $3,066,475,306)				3,318,690,112

Liabilities in Excess of Other Assets — (5.0)%				(159,048,185	)


Net Assets — 100.0%			$	3,159,641,927

Derivative Financial Instruments Outstanding as of Period End Futures Contracts

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

China — 4.2%
BeiGene Ltd.^(a)(b)		650,700	$	8,370,212


Denmark — 4.2%
Genmab A/S^(a)		23,526		8,371,019


France — 4.4%
Sanofi		62,099		6,170,996
Valneva SE^(a)(b)		254,499		2,531,140

				8,702,136

Germany — 7.1%
BioNTech SE, ADR^(b)		45,176		7,460,816
Evotec SE^(a)		259,852		6,751,267

				14,212,083

Japan — 7.4%
Ono Pharmaceutical Co. Ltd.		270,600		7,608,974
Takeda Pharmaceutical Co. Ltd.		240,700		7,062,184

				14,671,158

Netherlands — 1.1%
CureVac NV^(a)(b)		168,210		2,186,730


Switzerland — 3.3%
Roche Holding AG, NVS		19,990		6,636,770


Taiwan — 2.3%
Adimmune Corp.		969,000		1,303,203
Medigen Vaccine Biologics Corp.^(a)		476,000		3,274,974

				4,578,177

United Kingdom — 0.4%
Adaptimmune Therapeutics PLC, ADR^(a)		431,774		798,782


United States — 65.4%
Agenus Inc.^(a)(b)		760,299		1,961,571
Allogene Therapeutics Inc.^(a)(b)		247,278		3,209,669
Arcturus Therapeutics Holdings Inc.^(a)		63,188		1,108,949
Arcus Biosciences Inc.^(a)		137,976		3,668,782
Beam Therapeutics Inc.^(a)(b)		177,969		11,208,488
Blueprint Medicines Corp.^(a)		120,037		6,129,089
Coherus Biosciences Inc.^(a)(b)		226,659		1,919,802
Editas Medicine Inc.^(a)(b)		213,796		3,401,494
Exelixis Inc.^(a)		374,167		7,827,574
Fate Therapeutics Inc.^(a)(b)		283,319		8,649,729
FibroGen Inc.^(a)		267,419		3,364,131


Security	Shares		Value

United States (continued)
Gilead Sciences Inc.		112,280	$	6,708,730
Gossamer Bio Inc.^(a)		151,453		1,700,817
Inovio Pharmaceuticals Inc.^(a)(b)		703,462		1,392,855
Intellia Therapeutics Inc.^(a)(b)		147,036		9,522,051
Invitae Corp.^(a)(b)		702,810		1,335,339
Iovance Biotherapeutics Inc.^(a)(b)		435,923		5,078,503
Ligand Pharmaceuticals Inc.^(a)		50,163		4,616,501
Maravai LifeSciences Holdings Inc., Class A^(a)		218,867		5,710,240
Moderna Inc.^(a)		51,944		8,523,491
NGM Biopharmaceuticals Inc.^(a)		64,311		931,223
Novavax Inc.^(a)		159,163		8,675,975
RAPT Therapeutics Inc.^(a)(b)		71,340		1,314,083
Regeneron Pharmaceuticals Inc.^(a)(b)		10,570		6,148,463
Sangamo Therapeutics Inc.^(a)		338,310		1,451,350
Twist Bioscience Corp.^(a)(b)		159,658		6,983,441
Vaxart Inc.^(a)		392,771		1,445,397
Vir Biotechnology Inc.^(a)		226,587		6,301,385

				130,289,122


Total Long-Term Investments — 99.8% (Cost: $269,066,195)				198,816,189


Short-Term Securities

Money Market Funds — 14.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(c)(d)(e)		29,525,562		29,522,610
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(c)(d)		210,000		210,000


Total Short-Term Securities — 14.9% (Cost: $29,732,537)				29,732,610


Total Investments in Securities — 114.7% (Cost: $298,798,732)				228,548,799

Liabilities in Excess of Other Assets — (14.7)%				(29,214,560	)


Net Assets — 100.0%			$	199,334,239

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	Affiliate of the Fund.

^(d)	Annualized 7-day yield as of period end.

^(e)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Australia — 1.3%
Megaport Ltd.^(a)		505,212	$	3,468,753


Canada — 1.0%
ATS Automation Tooling Systems Inc.^(a)		79,232		2,508,967


China — 10.8%
Alibaba Group Holding Ltd.^(a)		203,100		2,283,548
Baidu Inc.^(a)		134,900		2,331,665
Hello Group Inc., ADR		387,823		1,737,447
iQIYI Inc., ADR^(a)		588,124		2,246,634
JD.com Inc., Class A		84,750		2,528,308
JOYY Inc., ADR		68,639		1,777,064
Kingsoft Cloud Holdings Ltd., ADR^(a)		523,420		1,716,818
Kuaishou Technology^(a)(b)		234,900		2,361,789
Tencent Holdings Ltd.		51,800		2,002,008
Tencent Music Entertainment Group, ADR^(a)		584,993		2,462,821
Weibo Corp., ADR^(a)		106,032		2,037,935
Xiaomi Corp., Class B^(a)(b)		1,560,000		2,453,545
ZTE Corp., Class H		1,088,400		2,342,173

				28,281,755

France — 2.8%
Atos SE^(a)		84,755		1,044,902
Dassault Systemes SE		56,930		2,441,823
Somfy SA		15,655		1,979,547
Vivendi SE		196,122		1,861,851

				7,328,123

Germany — 1.7%
Duerr AG		85,520		2,126,257
Nemetschek SE		33,134		2,218,207

				4,344,464

Israel — 2.6%
Maytronics Ltd.		129,214		1,702,690
Nano Dimension Ltd., ADR^(a)(c)		776,679		2,555,274
Stratasys Ltd.^(a)(c)		120,782		2,486,901

				6,744,865

Italy — 0.9%
Stellantis NV		161,407		2,317,845


Japan — 11.1%
FANUC Corp.		14,600		2,517,923
Harmonic Drive Systems Inc.		88,800		3,385,663
Hitachi Ltd.		45,600		2,308,639
Kawasaki Heavy Industries Ltd.		114,200		2,242,947
Kyocera Corp.		41,600		2,312,497
MINEBEA MITSUMI Inc.		124,900		2,246,717
Nidec Corp.		35,800		2,487,887
Oracle Corp. Japan		39,600		2,469,781
Ricoh Co. Ltd.		267,100		2,148,301
Sharp Corp./Japan		289,100		2,326,966
Sony Group Corp.		25,400		2,154,629
Yaskawa Electric Corp.		67,700		2,371,117

				28,973,067

Netherlands — 0.0%
Yandex NV, Class A^(a)(d)		50,541		505


South Korea — 3.1%
AfreecaTV Co. Ltd.		26,623		1,792,649
LG Electronics Inc.		28,555		2,082,868
Samsung Electronics Co. Ltd.		44,140		2,089,373


Security	Shares		Value

South Korea (continued)
Samsung SDS Co. Ltd.		20,157	$	2,114,217

				8,079,107

Sweden — 1.8%
Spotify Technology SA^(a)		21,316		2,409,135
Surgical Science Sweden AB^(a)		147,957		2,307,370

				4,716,505

Switzerland — 0.9%
STMicroelectronics NV		60,106		2,274,623


Taiwan — 7.6%
Alchip Technologies Ltd.		80,000		1,901,192
Faraday Technology Corp.		311,000		1,640,531
Global Unichip Corp.		130,000		2,212,171
Hiwin Technologies Corp.		281,000		2,031,274
Holtek Semiconductor Inc.		690,000		1,863,685
HTC Corp.^(a)		1,428,000		3,134,502
Nuvoton Technology Corp.		406,000		1,637,888
RDC Semiconductor Co. Ltd.^(a)		173,000		2,036,916
Via Technologies Inc.		1,339,000		3,303,967

				19,762,126

United Kingdom — 1.8%
AVEVA Group PLC		85,976		2,487,329
Clarivate PLC^(a)(c)		162,300		2,351,727

				4,839,056

United States — 52.3%
3D Systems Corp.^(a)(c)		222,218		2,542,174
Adobe Inc.^(a)		5,567		2,283,139
Advanced Micro Devices Inc.^(a)		22,367		2,113,010
Alphabet Inc., Class A^(a)		20,873		2,427,947
Altair Engineering Inc., Class A^(a)(c)		43,284		2,549,860
Alteryx Inc., Class A^(a)		41,409		2,005,438
Altra Industrial Motion Corp.		58,035		2,421,801
Amazon.com Inc.^(a)		19,367		2,613,577
Ambarella Inc.^(a)(c)		28,688		2,482,946
AMETEK Inc.		19,497		2,407,880
Analog Devices Inc.		14,340		2,465,906
Ansys Inc.^(a)(c)		9,189		2,563,639
Apple Inc.		16,363		2,659,151
Autodesk Inc.^(a)		11,425		2,471,456
Bentley Systems Inc., Class B		67,298		2,665,001
Bumble Inc., Class A^(a)		78,320		2,969,894
CEVA Inc.^(a)(c)		65,248		2,429,183
Cognex Corp.		49,639		2,530,596
Concentrix Corp.		14,954		2,000,247
Desktop Metal Inc., Class A^(a)(c)		1,140,684		2,429,657
Domo Inc., Class B^(a)		72,486		2,030,333
Dropbox Inc., Class A^(a)		104,420		2,374,511
Elastic NV^(a)		33,528		2,678,552
FARO Technologies Inc.^(a)		74,998		2,438,935
Freshworks Inc., Class A^(a)(c)		155,105		2,033,427
fuboTV Inc.^(a)(c)		714,049		1,792,263
GoDaddy Inc., Class A^(a)		32,755		2,429,766
HubSpot Inc.^(a)		6,710		2,066,680
Informatica Inc. , Class A^(a)(c)		121,162		2,774,610
Intel Corp.		54,951		1,995,271
International Business Machines Corp.		16,853		2,204,204
Intuitive Surgical Inc.^(a)		10,938		2,517,599
iRobot Corp.^(a)(c)		53,214		2,448,376
Lattice Semiconductor Corp.^(a)		45,145		2,776,418
Lumen Technologies Inc.		205,064		2,233,147


Security	Shares		Value

United States (continued)
Matterport Inc., Class A^(a)(c)		432,053	$	1,836,225
Meta Platforms Inc, Class A^(a)		12,494		1,987,795
Microchip Technology Inc.		33,397		2,299,717
Microsoft Corp.		8,814		2,474,442
MicroStrategy Inc., Class A^(a)(c)		10,483		2,998,767
Netflix Inc.^(a)		11,977		2,693,627
Nvidia Corp.		12,733		2,312,695
Pegasystems Inc.		45,502		1,826,905
Pinterest Inc., Class A^(a)		122,520		2,386,690
Proto Labs Inc.^(a)		48,889		2,390,183
PTC Inc.^(a)		20,086		2,478,211
Qualcomm Inc.		16,859		2,445,567
Salesforce Inc.^(a)		12,821		2,359,320
Silicon Laboratories Inc.^(a)(c)		16,027		2,363,662
Snap Inc., Class A, NVS^(a)		164,594		1,626,189
Snowflake Inc., Class A^(a)		18,382		2,755,646
Splunk Inc.^(a)(c)		22,580		2,346,288
Sumo Logic Inc.^(a)(c)		297,138		2,011,624
Teradata Corp.^(a)(c)		62,199		2,381,600
Texas Instruments Inc.		13,790		2,466,893
Twitter Inc.^(a)		59,340		2,469,137
Vimeo Inc.^(a)		283,523		1,576,388
Walt Disney Co. (The)^(a)		21,812		2,314,253

				136,628,418


Total Long-Term Investments — 99.7% (Cost: $313,214,350)				260,268,179


Security	Shares		Value

Short-Term Securities

Money Market Funds — 8.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		20,898,532	$	20,896,442
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		200,000		200,000


Total Short-Term Securities — 8.1% (Cost: $21,096,238)				21,096,442


Total Investments in Securities — 107.8% (Cost: $334,310,588)				281,364,621

Liabilities in Excess of Other Assets — (7.8)%				(20,357,563	)


Net Assets — 100.0%			$	261,007,058

^(a)	Non-income producing security.

^(b)	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.

^(c)	All or a portion of this security is on loan.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Australia — 0.3%
Allkem Ltd.^(a)		170,819	$	1,377,893
Novonix Ltd.^(a)		76,234		154,130

				1,532,023

Austria — 0.1%
ams-OSRAM AG^(a)		73,880		609,846


Belgium — 0.8%
Solvay SA		20,466		1,797,589
Umicore SA		58,020		2,101,621

				3,899,210

Canada — 1.3%
Linamar Corp.		12,847		585,692
Lion Electric Co. (The)^(a)(b)		13,348		65,539
Magna International Inc.		78,889		5,037,486
Martinrea International Inc.		19,629		143,169

				5,831,886

China — 6.3%
BOE Varitronix Ltd.		85,000		197,613
BYD Co. Ltd., Class H		256,000		9,366,009
Ganfeng Lithium Co. Ltd., Class H^(c)		124,080		1,121,964
Li Auto Inc.^(a)(b)		351,700		5,679,164
NIO Inc., ADR^(a)(b)		450,897		8,896,198
XPeng Inc.^(a)		326,600		3,965,435

				29,226,383

France — 0.5%
Cie. Plastic Omnium SA		15,943		298,188
Faurecia SE^(a)		41,343		747,275
Valeo		58,518		1,256,968

				2,302,431

Germany — 7.6%
Bayerische Motoren Werke AG		93,603		7,648,612
Continental AG		31,507		2,244,595
Hella GmbH & Co. KGaA		6,131		429,959
Infineon Technologies AG		380,159		10,425,657
Mercedes-Benz Group AG		241,489		14,241,568
Vitesco Technologies Group AG^(a)		5,645		307,027

				35,297,418

India — 0.4%
Amara Raja Batteries Ltd.		23,096		143,815
Bosch Ltd.		2,529		548,021
Exide Industries Ltd.		122,069		244,949
Samvardhana Motherson International Ltd.		397,382		641,388
Sona Blw Precision Forgings Ltd.^(c)		46,375		334,632

				1,912,805

Japan — 10.3%
Aisin Corp.		38,200		1,134,486
Alps Alpine Co. Ltd.		56,100		583,859
Denso Corp.		112,900		6,175,072
Exedy Corp.		8,300		108,079
FCC Co. Ltd.		9,000		95,830
GS Yuasa Corp.		17,700		323,168
Honda Motor Co. Ltd.		415,200		10,640,404
Koito Manufacturing Co. Ltd.		29,000		953,279
Musashi Seimitsu Industry Co. Ltd.		13,100		140,910
Nissan Motor Co. Ltd.		627,300		2,385,535
Nissha Co. Ltd.		9,900		116,555
Renesas Electronics Corp.^(a)		331,000		3,152,725


Security	Shares		Value

Japan (continued)
Subaru Corp.		166,400	$	2,895,510
Tokai Rika Co. Ltd.		13,700		150,774
Toyoda Gosei Co. Ltd.		16,500		260,390
Toyota Boshoku Corp.		21,500		317,929
Toyota Motor Corp.		1,136,300		18,443,312
TS Tech Co. Ltd.		21,900		249,724

				48,127,541

Netherlands — 3.0%
NXP Semiconductors NV		76,575		14,080,611
Yandex NV, Class A^(a)(d)		94,146		941

				14,081,552

South Korea — 7.4%
Hanon Systems		48,351		396,872
Hyundai Mobis Co. Ltd.		17,872		3,145,599
Hyundai Wia Corp.		4,629		243,621
Iljin Materials Co. Ltd.		6,475		368,022
KCC Corp.		1,024		230,245
LG Chem Ltd.		13,684		6,373,385
Samsung Electronics Co. Ltd.		351,019		16,615,534
Samsung SDI Co. Ltd.		15,018		6,601,155
Sebang Global Battery Co. Ltd.		1,615		67,233
SL Corp.		3,275		79,207
SNT Motiv Co. Ltd.		2,318		78,623
SOLUM Co. Ltd.^(a)		9,022		149,298

				34,348,794

Spain — 0.1%
Cie. Automotive SA		12,018		316,139


Sweden — 3.2%
Hexagon AB, Class B		593,410		6,987,131
Volvo AB, Class B		438,107		7,865,783

				14,852,914

Switzerland — 4.9%
ABB Ltd., Registered		514,834		15,650,747
STMicroelectronics NV		190,215		7,198,406

				22,849,153

Taiwan — 1.5%
Delta Electronics Inc.		608,000		5,287,848
Himax Technologies Inc., ADR^(b)		49,800		356,568
Innolux Corp.		2,657,000		920,202
International CSRC Investment Holdings Co.		202,430		138,630
Via Technologies Inc.		134,000		330,644

				7,033,892

United States — 49.1%
Adient PLC^(a)		27,286		921,721
Albemarle Corp.		34,128		8,337,812
Alphabet Inc., Class A^(a)		164,724		19,160,696
Altra Industrial Motion Corp.		18,859		786,986
Ambarella Inc.^(a)		10,507		909,381
Apple Inc.		129,436		21,034,644
Aptiv PLC^(a)		78,857		8,271,311
Autoliv Inc.		25,475		2,190,850
BorgWarner Inc.		69,690		2,680,277
Canoo Inc.^(a)(b)		33,838		117,079
CTS Corp.		8,914		362,622
Dana Inc.		41,367		693,311
Diodes Inc.^(a)		12,771		1,039,176
Eaton Corp. PLC		116,036		17,218,582
Faraday Future Intelligent Electric Inc., Class E^(a)		25,761		56,932


Security	Shares		Value

United States (continued)
Fisker Inc., Class A^(a)(b)		47,010	$	450,356
Ford Motor Co.		1,150,603		16,902,358
Garmin Ltd.		44,110		4,306,018
General Motors Co.^(a)		405,646		14,708,724
Gentex Corp.		68,253		1,926,100
Gentherm Inc.^(a)		9,534		615,515
Holley Inc.^(a)(b)		13,784		110,134
II-VI Inc.^(a)		30,591		1,610,310
indie Semiconductor Inc., Class A^(a)		20,558		148,018
Intel Corp.		434,154		15,764,132
Lear Corp.		17,435		2,635,126
Lordstown Motors Corp., Class A^(a)(b)		47,357		106,080
Lucid Group Inc.^(a)(b)		160,459		2,928,377
Luminar Technologies Inc.^(a)(b)		57,850		391,066
Methode Electronics Inc.		10,177		419,699
Microvast Holdings Inc.^(a)		36,840		97,626
Nvidia Corp.		101,155		18,372,783
ON Semiconductor Corp.^(a)(b)		125,975		8,412,610
Qualcomm Inc.		133,570		19,375,664
Rivian Automotive Inc., Class A^(a)		142,615		4,891,694
Sensata Technologies Holding PLC		45,392		2,018,582
Standard Motor Products Inc.		5,478		250,564
Stoneridge Inc.^(a)		7,469		140,567
Synaptics Inc.^(a)		11,411		1,654,024
Tenneco Inc., Class A^(a)(b)		23,545		444,294
Tesla Inc.^(a)		26,864		23,947,913
Universal Display Corp.		12,640		1,459,414
Visteon Corp.^(a)		8,114		1,035,184

				228,904,312


Total Common Stocks — 96.8% (Cost: $512,034,433)				451,126,299


Preferred Stocks

Chile — 0.9%
Sociedad Quimica y Minera de Chile SA, Class B,
Preference Shares		40,213		3,994,033


Security	Shares		Value

Germany — 2.2%
Porsche Automobil Holding SE, Preference Shares, NVS		44,689	$	3,234,666
Volkswagen AG, Preference Shares, NVS		50,948		7,203,530

				10,438,196


Total Preferred Stocks — 3.1% (Cost: $15,782,562)			14,432,229


Total Long-Term Investments — 99.9% (Cost: $527,816,995)			465,558,528


Short-Term Securities

Money Market Funds — 2.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		13,523,001		13,521,649
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		160,000		160,000


Total Short-Term Securities — 2.9% (Cost: $13,681,540)				13,681,649


Total Investments in Securities — 102.8% (Cost: $541,498,535)				479,240,177

Liabilities in Excess of Other Assets — (2.8)%				(12,944,718	)


Net Assets — 100.0%			$	466,295,459

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	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.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Banks — 0.0%

Pathward Financial Inc.^(a)		711	$	23,975


Biotechnology — 10.1%
Allogene Therapeutics Inc.^(b)		11,991		155,643
Arcus Biosciences Inc.^(b)		6,723		178,765
Beam Therapeutics Inc.^(b)		8,627		543,328
Blueprint Medicines Corp.^(b)		8,808		449,736
Coherus Biosciences Inc.^(b)		11,029		93,416
Editas Medicine Inc.^(a)(b)		10,419		165,766
Exelixis Inc.^(b)		47,902		1,002,110
Fate Therapeutics Inc.^(a)(b)		13,805		421,467
FibroGen Inc.^(b)		13,026		163,867
Gilead Sciences Inc.		191,349		11,433,103
Intellia Therapeutics Inc.^(b)		10,377		672,014
Iovance Biotherapeutics Inc.^(b)		21,242		247,469
Ligand Pharmaceuticals Inc.^(b)		2,444		224,921
Moderna Inc.^(b)		52,336		8,587,814
Novavax Inc.^(b)		11,870		647,034
Regeneron Pharmaceuticals Inc.^(a)(b)		16,066		9,345,432
Twist Bioscience Corp.^(b)		7,777		340,166
Vir Biotechnology Inc.^(a)(b)		11,038		306,967

				34,979,018

Capital Markets — 0.3%
Blucora Inc.^(b)		1,217		24,340
Coinbase Global Inc., Class A^(a)(b)		4,018		252,973
Donnelley Financial Solutions Inc.^(a)(b)		817		27,770
MarketAxess Holdings Inc.		993		268,885
Open Lending Corp., Class A^(b)		3,043		31,525
Tradeweb Markets Inc., Class A		2,887		203,591
Virtu Financial Inc., Class A		2,748		64,111

				873,195

Communications Equipment — 0.4%
ADTRAN Holdings Inc. ^(b)		5,439		131,026
Calix Inc.^(b)		6,436		367,109
Juniper Networks Inc.		36,289		1,017,181

				1,515,316

Consumer Finance — 0.1%
Bread Financial Holdings Inc.		1,235		48,918
Enova International Inc.^(b)		841		29,023
Green Dot Corp., Class A^(b)		1,254		35,237
OneMain Holdings Inc.		3,259		121,235
SoFi Technologies Inc.^(a)(b)		17,226		108,696
Upstart Holdings Inc.^(a)(b)		1,849		44,986
World Acceptance Corp.^(b)		162		17,946

				406,041

Diversified Telecommunication Services — 0.2%
Lumen Technologies Inc.		52,737		574,306


Electrical Equipment — 0.4%
AMETEK Inc.		11,830		1,461,005


Electronic Equipment, Instruments & Components — 0.1%
Cognex Corp.		8,639		440,416
FARO Technologies Inc.^(b)		930		30,244

				470,660

Entertainment — 4.4%
Netflix Inc.^(b)		22,526		5,066,098


Security	Shares		Value

Entertainment (continued)
Walt Disney Co. (The)^(b)		93,642	$	9,935,416

				15,001,514

Equity Real Estate Investment Trusts (REITs) — 2.4%
Digital Realty Trust Inc.		23,465		3,107,939
Equinix Inc.		7,480		5,263,975

				8,371,914

Health Care Equipment & Supplies — 1.2%
Intuitive Surgical Inc.^(b)		18,382		4,230,985


Health Care Providers & Services — 0.0%
Invitae Corp.^(b)		34,216		65,010


Household Durables — 0.0%
iRobot Corp.^(b)		1,358		62,482


Interactive Media & Services — 8.2%
Alphabet Inc., Class A^(b)		121,000		14,074,720
Bumble Inc., Class A^(b)		4,023		152,552
fuboTV Inc.^(a)(b)		8,512		21,365
Meta Platforms Inc, Class A^(b)		72,650		11,558,615
Pinterest Inc., Class A^(b)		28,888		562,738
Snap Inc., Class A, NVS^(b)		57,067		563,822
Twitter Inc.^(b)		32,465		1,350,869
Vimeo Inc.^(b)		11,714		65,130

				28,349,811

Internet & Direct Marketing Retail — 6.7%
Amazon.com Inc.^(b)		113,285		15,287,811
ContextLogic Inc., Class A^(a)(b)		41,269		61,904
Coupang Inc.^(a)(b)		83,980		1,452,014
eBay Inc.		45,998		2,236,883
Etsy Inc.^(b)		10,420		1,080,762
MercadoLibre Inc.^(b)		3,675		2,990,384

				23,109,758

IT Services — 14.3%
Affirm Holdings Inc.^(a)(b)		5,231		140,400
Akamai Technologies Inc.^(b)		17,929		1,725,128
AvidXchange Holdings Inc.^(b)		3,397		24,526
Block Inc.^(b)		13,783		1,048,335
Broadridge Financial Solutions Inc.		3,146		505,090
Concentrix Corp.		3,552		475,116
Euronet Worldwide Inc.^(b)		1,302		127,948
Evo Payments Inc., Class A^(a)(b)		1,272		34,776
Fastly Inc., Class A^(b)		8,927		101,500
Fidelity National Information Services Inc.		16,389		1,674,300
Fiserv Inc.^(b)		16,413		1,734,526
FleetCor Technologies Inc.^(b)		1,968		433,137
Flywire Corp.^(b)		1,930		45,278
Global Payments Inc.		7,536		921,804
GoDaddy Inc., Class A^(b)		13,277		984,888
International Business Machines Corp.		74,131		9,695,594
Jack Henry & Associates Inc.		1,958		406,814
Marqeta Inc., Class A^(b)		10,233		98,134
Mastercard Inc., Class A		23,278		8,235,524
MongoDB Inc. ^(b)		5,351		1,672,027
Okta Inc.^(b)		16,458		1,620,290
Paya Holdings Inc., Class A^(b)		2,514		17,573
Payoneer Global Inc.^(b)		5,451		29,108
PayPal Holdings Inc.^(b)		31,276		2,706,312
Repay Holdings Corp.^(b)		2,280		30,552
Shift4 Payments Inc., Class A^(b)		1,513		55,119


Security	Shares		Value

IT Services (continued)
Snowflake Inc., Class A^(b)		22,166	$	3,322,905
SS&C Technologies Holdings Inc.		6,023		356,381
Switch Inc., Class A		10,805		365,317
Toast Inc., Class A^(b)		5,635		90,047
Twilio Inc., Class A^(b)		14,010		1,188,048
Visa Inc., Class A		44,399		9,417,472
WEX Inc.^(b)		1,191		197,956


				49,481,925

Life Sciences Tools & Services — 0.1%
Maravai LifeSciences Holdings Inc., Class A^(b)		16,611		433,381


Machinery — 0.1%
Altra Industrial Motion Corp.		3,324		138,710
Proto Labs Inc.^(b)		1,401		68,495


				207,205

Professional Services — 0.9%
Alight Inc., Class A^(b)		6,173		46,544
Booz Allen Hamilton Holding Corp.		14,742		1,414,937
CACI International Inc., Class A^(a)(b)		2,626		793,814
ManTech International Corp./VA, Class A		3,124		299,342
Science Applications International Corp.		6,327		612,896


				3,167,533

Semiconductors & Semiconductor Equipment — 15.4%
Advanced Micro Devices Inc.^(b)		83,114		7,851,780
Analog Devices Inc.		26,673		4,586,689
CEVA Inc.^(b)		1,161		43,224
Intel Corp.		210,523		7,644,090
Lattice Semiconductor Corp.^(b)		6,987		429,700
Microchip Technology Inc.		27,989		1,927,323
Nvidia Corp.		74,042		13,448,248
Qualcomm Inc.		57,609		8,356,762
Silicon Laboratories Inc.^(b)		1,841		271,511
Texas Instruments Inc.		47,442		8,486,899


				53,046,226

Software — 28.3%
A10 Networks Inc.		7,383		110,081
ACI Worldwide Inc.^(b)		3,061		87,329
Adobe Inc.^(b)		24,228		9,936,387
Alarm.com Holdings Inc.^(b)		5,393		381,663
Altair Engineering Inc., Class A^(b)		2,634		155,169
Alteryx Inc., Class A^(b)		4,728		228,977
Ansys Inc.^(b)		4,464		1,245,411
Appian Corp.^(b)		3,281		159,227
Autodesk Inc.^(b)		11,146		2,411,103
Avalara Inc.^(b)		2,309		201,853
Bentley Systems Inc., Class B		10,019		396,752
Bill.com Holdings Inc.^(a)(b)		2,636		356,071
Black Knight Inc.^(b)		4,072		267,449
Blackline Inc.^(a)(b)		1,458		92,175
Blend Labs Inc., Class A^(a)(b)		4,232		11,172
C3.ai Inc., Class A^(a)(b)		6,530		120,217
CCC Intelligent Solutions Holdings Inc.^(b)		2,721		27,183
Citrix Systems Inc.		14,241		1,444,180
Clear Secure Inc., Class A^(b)		6,373		161,364
CommVault Systems Inc.^(b)		3,598		201,812
Confluent Inc., Class A^(b)		9,640		245,338
Crowdstrike Holdings Inc., Class A^(b)		23,467		4,308,541
DocuSign Inc.^(a)(b)		22,351		1,430,017
Domo Inc., Class B^(b)		2,388		66,888
Dropbox Inc., Class A^(b)		22,962		522,156


Security	Shares		Value

Software (continued)
Duck Creek Technologies Inc.^(b)		2,038	$	28,124
Ebix Inc.		707		16,728
Everbridge Inc.^(b)		4,264		107,197
Expensify Inc., Class A^(a)(b)		838		16,726
Fair Isaac Corp.^(b)		2,089		965,181
Fortinet Inc.^(b)		76,024		4,534,832
Freshworks Inc., Class A^(b)		8,116		106,401
Gitlab Inc., Class A^(b)		2,623		150,560
Guidewire Software Inc.^(a)(b)		2,249		174,792
HubSpot Inc.^(b)		3,731		1,149,148
Informatica Inc. , Class A^(a)(b)		8,965		205,299
Intapp Inc.^(b)		1,081		16,399
Intuit Inc.		7,440		3,393,905
Mandiant Inc.^(b)		25,763		586,881
Matterport Inc., Class A^(a)(b)		11,637		49,457
Microsoft Corp.		51,330		14,410,384
MicroStrategy Inc., Class A^(a)(b)		768		219,694
nCino Inc.^(b)		1,734		55,991
Nutanix Inc., Class A^(b)		18,243		276,017
Oracle Corp.		125,676		9,782,620
Palo Alto Networks Inc.^(b)		11,080		5,530,028
Pegasystems Inc.		3,192		128,159
Ping Identity Holding Corp.^(b)		7,924		135,897
Progress Software Corp.^(a)		3,546		166,520
PTC Inc.^(b)		5,406		666,992
Q2 Holdings Inc.^(a)(b)		1,466		64,357
Qualys Inc.^(b)		3,955		483,776
Rapid7 Inc.^(a)(b)		6,445		412,287
SailPoint Technologies Holdings Inc.^(b)		10,474		667,927
Salesforce Inc.^(b)		74,958		13,793,771
SentinelOne Inc., Class A^(b)		20,724		514,991
ServiceNow Inc.^(b)		16,443		7,344,430
Splunk Inc.^(b)		12,137		1,261,156
Sprout Social Inc., Class A^(a)(b)		3,682		191,832
Sumo Logic Inc.^(b)		7,351		49,766
Tenable Holdings Inc.^(b)		11,970		462,640
Teradata Corp.^(a)(b)		8,373		320,602
Varonis Systems Inc.^(b)		12,102		307,754
VMware Inc., Class A		25,294		2,939,163
Workiva Inc.^(b)		1,171		76,701
Zscaler Inc.^(b)		9,408		1,458,804
Zuora Inc., Class A^(b)		9,692		82,479


				97,874,883

Technology Hardware, Storage & Peripherals — 6.3%
3D Systems Corp.^(a)(b)		6,531		74,715
Apple Inc.		95,340		15,493,703
HP Inc.		86,786		2,897,785
NetApp Inc.		18,316		1,306,480
Pure Storage Inc., Class A^(b)		22,973		651,285
Western Digital Corp.^(b)		25,184		1,236,534


				21,660,502


Total Long-Term Investments — 99.9% (Cost: $351,425,181)				345,366,645


Short-Term Securities

Money Market Funds — 4.7%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(c)(d)(e)		15,949,832		15,948,237

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Communication Services — 34.7%
Activision Blizzard Inc.		1,216	$	97,219
Bandwidth Inc., Class A^(a)		449		7,467
Bumble Inc., Class A^(a)		1,914		72,579
DouYu International Holdings Ltd., ADR^(a)		7,565		8,624
Electronic Arts Inc.		654		85,824
fuboTV Inc.^(a)(b)		3,296		8,273
Hello Group Inc., ADR		3,930		17,606
HUYA Inc., ADR^(a)		2,010		6,633
iQIYI Inc., ADR^(a)(b)		9,529		36,401
JOYY Inc., ADR		1,260		32,621
Kahoot! ASA^(a)(b)		8,949		21,457
Kingsoft Corp. Ltd.		23,400		78,132
Kuaishou Technology^(a)(c)		9,300		93,506
Match Group Inc.^(a)(b)		1,135		83,207
Meitu Inc.^(a)(c)		63,000		6,686
Netflix Inc.^(a)		477		107,277
Nexon Co. Ltd.		3,900		88,538
Nintendo Co. Ltd.		200		89,435
Paradox Interactive AB		984		17,453
Roku Inc.^(a)		1,086		71,155
Snap Inc., Class A, NVS^(a)		6,376		62,995
Sohu.com Ltd., ADR^(a)(b)		702		11,583
Spotify Technology SA^(a)		837		94,598
Take-Two Interactive Software Inc.^(a)		747		99,149
Tencent Holdings Ltd.		2,100		81,163
Ubisoft Entertainment SA^(a)(b)		1,855		78,976
Viaplay Group AB, Class B^(a)		1,941		57,630
XD Inc.^(a)		6,000		14,226


				1,530,413

Consumer Discretionary — 23.8%
2U Inc.^(a)		1,884		18,444
Alibaba Health Information Technology Ltd.^(a)		102,000		61,251
Chegg Inc.^(a)		3,126		66,584
Dada Nexus Ltd., ADR^(a)		6,201		39,873
Deliveroo PLC^(a)(c)		16,050		17,716
Delivery Hero SE^(a)(c)		2,377		114,682
DoorDash Inc., Class A^(a)		1,392		97,092
Duolingo Inc, Class A^(a)		531		48,719
JD Health International Inc.^(a)(c)		15,000		113,776
Just Eat Takeaway.com NV^(a)(c)		4,491		82,317
Meituan, Class B^(a)(c)		4,000		89,733
New Oriental Education & Technology Group Inc.^(a)		37,200		101,978
Peloton Interactive Inc., Class A^(a)		7,233		68,641
Ping An Healthcare and Technology Co. Ltd.^(a)(c)		10,800		28,207
PowerSchool Holdings Inc., Class A^(a)		1,053		15,174
Stride Inc.^(a)		981		43,831
Zomato Ltd.^(a)		67,431		40,080


				1,048,098

Consumer Staples — 1.1%
Shop Apotheke Europe NV^(a)(c)		315		30,589
Zur Rose Group AG^(a)(b)		252		17,993


				48,582

Health Care — 4.2%
GN Store Nord A/S		2,478		86,294
Teladoc Health Inc.^(a)		2,699		99,458

				185,752


Security	Shares		Value

Information Technology — 36.0%
8x8 Inc.^(a)		3,067	$	14,998
Asana Inc., Class A^(a)(b)		1,767		34,138
Avaya Holdings Corp.^(a)		1,730		1,555
Box Inc., Class A^(a)(b)		3,408		96,923
Braze Inc., Class A^(a)(b)		729		31,690
Citrix Systems Inc.		933		94,616
Cloudflare Inc., Class A^(a)		1,686		84,840
DocuSign Inc.^(a)(b)		1,140		72,937
Dropbox Inc., Class A^(a)		4,080		92,779
Enghouse Systems Ltd.		1,136		29,097
Esker SA		132		19,828
Everbridge Inc.^(a)		918		23,079
Five9 Inc.^(a)		921		99,578
GB Group PLC		5,901		36,516
Justsystems Corp.		900		27,786
Life360 Inc.^(a)(c)		4,350		13,993
LivePerson Inc.^(a)(b)		1,689		23,038
Megaport Ltd.^(a)(b)		3,630		24,923
Microsoft Corp.		345		96,855
Mitek Systems Inc.^(a)		1,036		11,272
Monday.com Ltd.^(a)		321		32,976
Nice Ltd.^(a)		475		101,411
PagerDuty Inc.^(a)(b)		1,860		48,230
Plantronics Inc.^(a)		1,107		44,048
RingCentral Inc., Class A^(a)		1,494		73,938
Smartsheet Inc., Class A^(a)		2,412		72,505
Turtle Beach Corp.^(a)		444		5,772
Verint Systems Inc.^(a)		1,548		70,697
Xperi Holding Corp.		2,490		41,732
Zendesk Inc.^(a)		1,023		77,155
Zoom Video Communications Inc., Class A^(a)		841		87,346

				1,586,251


Total Long-Term Investments — 99.8% (Cost: $7,579,322)				4,399,096


Short-Term Securities

Money Market Funds — 10.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(d)(e)(f)		456,592		456,546


Total Short-Term Securities — 10.4% (Cost: $456,529)				456,546


Total Investments In Securities — 110.2% (Cost: $8,035,851)				4,855,642

Liabilities in Excess of Other Assets — (10.2)%				(450,187	)


Net Assets — 100.0%			$	4,405,455

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	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.

^(d)	Affiliate of the Fund.

^(e)	Annualized 7-day yield as of period end.

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

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

iShares Trust (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 Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):

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 date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. 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 or as estimated by management, 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.

Foreign Currency Translation: Each Fund’s books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

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 “Other foreign taxes”, and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2022, 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 includes tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

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.

In-kind Redemptions: For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds’ tax year. These reclassifications have no effect on net assets or net asset value (“NAV”) per share.

Distributions: Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds. 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, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds’ maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

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’s listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under policies approved by the Board of Trustees of the Trust (the “Board”). If a security’s market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with a policy approved by the Board as reflecting fair value. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) is the committee formed by management to develop global pricing policies and procedures and to oversee the pricing function for all financial instruments.

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

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange (“NYSE”). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments (“Systematic Fair Value Price”). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Global Valuation Committee, in accordance with a policy approved by the Board as reflecting fair value (“Fair Valued Investments”). The fair valuation approaches that may be used by the Global Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Global Valuation Committee, or its delegate, seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that the Global Valuation Committee, or its delegate, deems relevant and consistent with the principles of fair value measurement. The pricing of all Fair Valued Investments is subsequently reported to the Board or a committee thereof on a quarterly basis.

Fair value pricing could result in a difference between the prices used to calculate a fund’s NAV and the prices used by the fund’s underlying index, which in turn could result in a difference between the fund’s performance and the performance of the fund’s underlying index.

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

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by 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.

or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does 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 in money market funds managed by BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, or its affiliates is disclosed in the Schedule 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 also disclosed in each Fund’s Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an “MSLA”) which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties’ obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party’s net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

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.

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 Schedule 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.

Investment Advisory Fees: Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund’s assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

For its investment advisory services to the iShares Exponential Technologies ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

Expense Waivers: BFA may from time to time voluntarily waive and/or reimburse fees or expenses in order to limit total annual fund operating expenses (excluding acquired fund fees and expenses, if any). For the iShares U.S. Tech Breakthrough Multisector ETF, BFA has elected to implement a voluntary fee waiver in order to limit the Fund’s total annual operating expenses after fee waiver to 0.30%, and currently intends to keep such voluntary fee waiver for the Fund in place through December 31, 2022. Any such voluntary waiver or reimbursement may be eliminated by BFA at any time.

This amount is included in investment advisory fees waived in the Statements of Operations. For the year ended July 31, 2022, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

Distributor: BlackRock Investments, LLC (“BRIL”), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

ETF Servicing Fees: iShares U.S. Tech Breakthrough Multisector ETF has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units (“ETF Services”). BRIL is entitled to a

transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. iShares U.S. Tech Breakthrough Multisector ETF does not pay BRIL for ETF Services.

Prior to April 25, 2022, ETF Services were performed by State Street Bank and Trust Company.

Securities Lending: The U.S. Securities and Exchange Commission (the “SEC”) has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. (“BTC”), an affiliate of BFA, 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. Each Fund is 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 BFA, 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 each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% of the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.

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

Pursuant to the current securities lending agreement, each of iShares Cloud 5G and Tech ETF, iShares Cybersecurity and Tech ETF and iShares U.S. Tech Breakthrough Multisector ETF (the “Group 1 Funds”), retains 81% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Pursuant to the current securities lending agreement, each of iShares Exponential Technologies ETF, iShares Genomics Immunology and Healthcare ETF, iShares Robotics and Artificial Intelligence Multisector ETF, iShares Self-Driving EV and Tech ETF and iShares Virtual Work and Life Multisector ETF (the “Group 2 Funds”), retains 82% of securities lending income (which excludes collateral investment fees) and the 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 plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the “iShares ETF Complex”) in a given calendar year exceeds a specified threshold: (1) each Group 1 Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees, and (2) each Group 2 Fund will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Prior to January 1, 2022, each Group 1 Fund retained 77% of securities lending income (which excludes collateral investment fees) and the amount retained was not less than 70% of the total of securities lending income plus the collateral investment fees. Each Group 2 Fund retained 82% of securities lending income (which excludes collateral investment fees) and the amount retained was not 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 plus the collateral investment fees generated across the iShares ETF Complex in a calendar year exceeded a specified threshold: (1) each Group 1 Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees, and (2) each Group 2 Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended July 31, 2022, the Funds paid BTC the following amounts for securities lending agent services:

Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

Other Transactions: Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the year ended July 31, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund’s underlying index.

For the year ended July 31, 2022, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:

Each Fund is treated as an entity separate from the Trust’s other funds for federal income tax purposes. 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.

Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2022, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2022, permanent differences attributable to net operating loss, distributions paid in excess of taxable income and realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

As of July 31, 2022, the tax components of accumulated net earnings (losses) were as follows:

For the year ended July 31, 2022, the iShares Exponential Technologies ETF utilized $53,007,918 of its capital loss carryforwards.

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as “passive foreign investment companies.” Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of July 31, 2022, 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:

The iShares Cloud 5G and Tech ETF, iShares Cybersecurity and Tech ETF, iShares Exponential Technologies ETF, iShares Genomics Immunology and Healthcare ETF, iShares Robotics and Artificial Intelligence Multisector ETF, iShares Self-Driving EV and Tech ETF and iShares Virtual Work and Life Multisector ETF, along with certain other iShares funds (“Participating Funds”), are parties to a $300 million credit agreement (“Credit Agreement”) with State Street Bank and Trust Company, which expires on October 15, 2021. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Credit Agreement sets specific sub limits on aggregate borrowings based on two tiers of Participating Funds: $300 million with respect to the funds within Tier 1, including the Funds, and $200 million with respect to Tier 2. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Credit Agreement. The Credit Agreement has the following terms: a commitment fee of 0.20% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Credit Agreement. The Credit Agreement was terminated on August 12, 2021.

Effective August 13, 2021, the iShares Cloud 5G and Tech ETF, iShares Cybersecurity and Tech ETF, iShares Exponential Technologies ETF, iShares Genomics Immunology and Healthcare ETF, iShares Robotics and Artificial Intelligence Multisector ETF, iShares Self-Driving EV and Tech ETF and iShares Virtual Work and Life Multisector ETF, along with certain other iShares funds (“Participating Funds”), are parties to a $800 million credit agreement (“Syndicated Credit Agreement”) with a group of lenders, which expires on August 12, 2022. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

During the year ended July 31, 2022, the iShares Cloud 5G and Tech ETF, iShares Cybersecurity and Tech ETF, iShares Exponential Technologies ETF, iShares Genomics Immunology and Healthcare ETF and iShares Robotics and Artificial Intelligence Multisector ETF did not borrow under the Syndicated Credit Agreement.

For the year ended July 31, 2022, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Syndicated Credit Agreement were as follows:

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate 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 the Fund is subject.

BFA uses a “passive” or index approach to try to achieve each Fund’s investment objective following the securities included in its underlying index during upturns as well as downturns. BFA does not take steps to reduce market exposure or to lessen the effects of a declining market. Divergence from the underlying index and the composition of the portfolio is monitored by BFA.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to redemption gates or liquidity fees under certain circumstances.

Market Risk: An outbreak of respiratory disease caused by a novel coronavirus has developed into a global pandemic and has resulted in closing borders, quarantines, disruptions to supply chains and customer activity, as well as general concern and uncertainty. The impact of this pandemic, and other global health crises that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. This pandemic may result in substantial market volatility and may adversely impact the prices and liquidity of a fund’s investments. Although vaccines have been developed and approved for use by various governments, the duration of this pandemic and its effects cannot be determined with certainty.

Valuation Risk: The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a 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.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each 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.

Counterparty Credit Risk: The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that the Manager believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Funds.

Concentration Risk: A diversified portfolio, where this is appropriate and consistent with a fund’s objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund’s portfolio are disclosed in its Schedule of Investments.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds’ investments.

Certain Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a Fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the fund’s portfolio. Investment percentages in specific sectors are presented in the Schedule of Investments.

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.

LIBOR Transition Risk: The United Kingdom’s Financial Conduct Authority announced a phase out of the London Interbank Offered Rate (“LIBOR”). Although many LIBOR rates ceased to be published or no longer are representative of the underlying market they seek to measure after December 31, 2021, a selection of widely used USD LIBOR rates will continue to be published through June 2023 in order to assist with the transition. The Funds may be exposed to financial instruments tied to LIBOR to determine payment obligations, financing terms, hedging strategies or investment value. The transition process away from LIBOR might lead to increased volatility and illiquidity in markets for, and reduce the effectiveness of new hedges placed against instruments whose terms currently include LIBOR. The ultimate effect of the LIBOR transition process on the Funds is uncertain.

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”) at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust’s administrator or BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Investors transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

The Internal Revenue Service (“IRS”) has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which the iShares Exponential Technologies ETF is able to pass through to shareholders as a foreign tax credit in the current year, the Fund will be able to offset the prior years’ withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Fund.

Management’s evaluation of the impact of all subsequent events on the Funds’ financial statements was completed through the date the financial statements were available to be issued and the following items were noted:

Effective August 12, 2022, the Syndicated Credit Agreement to which the Participating Funds are party was amended to (i) update the interest terms to the higher of (a) Daily Simple Secured Overnight Financing Rate (“SOFR”) plus 0.10% and 1.00% per annum or (b) the U.S. Federal Funds rate plus 1.00% per annum on amounts borrowed and (ii) extend the termination date to August 11, 2023.

iShares Trust and Shareholders of each of the eight funds listed in the table below

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (eight of the funds constituting iShares Trust, hereafter collectively referred to as the “Funds”) as of July 31, 2022, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of July 31, 2022, the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

We have served as the auditor of one or more BlackRock investment companies since 2000.

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2022:

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified business income for individuals for the fiscal year ended July 31, 2022:

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended July 31, 2022:

The following percentage, or maximum percentage allowable by law, of ordinary income distributions paid during the fiscal year ended July 31, 2022 qualified for the dividends-received deduction for corporate shareholders:

iShares Cloud 5G and Tech ETF, iShares Cybersecurity and Tech ETF, iShares Genomics Immunology and Healthcare ETF, iShares Robotics and Artificial Intelligence Multisector ETF, iShares Self-Driving EV and Tech ETF, iShares U.S. Tech Breakthrough Multisector ETF, iShares Virtual Work and Life Multisector ETF (each the “Fund”)

Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members”), is required annually to consider and approve the Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, none of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2021, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.

Nature, Extent and Quality of Services Provided: Based on management’s representations, including information about recent enhancements and initiatives with respect to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, provided at the May 3, 2022 meeting and throughout the year, and matters related to BFA’s portfolio compliance program.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.

Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.

Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts.

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

Conclusion: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund’s investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The amounts and sources of distributions reported are estimates and are being provided pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each Fund’s investment experience during the year and may be subject to changes based on tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report these distributions for federal income tax purposes.

Information on the Fund’s net asset value, market price, premiums and discounts, and bid-ask spreads can be found at iShares.com.

The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of the duties performed by BFA and other service providers. Each Trustee serves until he or she resigns, is removed, dies, retires or becomes incapacitated. Each officer shall hold office until his or her successor is elected and qualifies or until his or her death, resignation or removal. Trustees who are not “interested persons” (as defined in the 1940 Act) of the Trust are referred to as independent trustees (“Independent Trustees”).

The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds and ETFs (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (including ETFs) (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares U.S. ETF Trust and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 384 funds as of July 31, 2022. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52^nd Street, New York, NY 10055. The Board has designated John E. Kerrigan as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at iShares.com. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents and Rule 30e-3 notices can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at iShares.com/fundreports.

A description of the policies and procedures that the iShares Funds use to determine how to vote proxies relating to portfolio securities and information about how the iShares Funds voted proxies relating to portfolio securities during the most recent twelve-month period ending June 30 is available without charge, upon request (1) by calling toll-free 1-800-474-2737; (2) on the iShares website at iShares.com; and (3) on the SEC website at sec.gov.

A description of the Trust’s policies and procedures with respect to the disclosure of the Fund’s portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at iShares.com.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by ICE Data Indices, LLC or Morningstar Inc., nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above.

The Markets in Review

Dear Shareholder,

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

The iShares MSCI ACWI ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization developed and emerging market equities, as represented by the MSCI ACWI (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Global stocks declined substantially during the reporting period, as global growth cooled in an environment of high inflation, rising interest rates, and volatility in commodities markets. U.S. stocks were the largest detractors from the Index’s return, as the recovery slowed and the economy contracted in the first half of 2022.

Among U.S. stocks, the communication services sector declined the most, driven primarily by weakness in the interactive media and services industry. A change to the data-tracking policies of a popular mobile platform impeded the ability of social media companies to target specific customer demographics, reducing the value of the advertising they sell. Consequently, revenues decreased, weighing heavily on stocks in this growth-oriented industry. The information technology sector also declined, as payment platforms in the IT services industry experienced slowing user growth. Consumers reoriented their spending back toward physical retail, negatively impacting growth in e-commerce transactions. Uncertainty around the sustainability of recent growth also pressured software providers amid a normalization of work and leisure activities.

Chinese stocks also detracted from the Index’s performance, as strict lockdowns to prevent the spread of COVID-19 weighed on economic activity. The consumer discretionary sector led the decline, particularly the internet and direct marketing retail industry. Stiff competition, both domestically and internationally, led to slower revenue growth and declining earnings. Increased regulatory scrutiny from the Chinese government also drove investor uncertainty surrounding the industry. The communication services sector was another source of weakness, constrained by new regulations that dampened revenue growth.

Stocks in Japan, which endured two quarters of economic contraction during the reporting period, also restrained the Index’s performance. The Japanese yen declined significantly relative to the U.S. dollar, reducing the value of Japanese assets denominated in U.S. dollars. The industrials sector declined the most amid a notable slowdown in industrial production.

German stocks further detracted from the Index’s return, as weakness in the automobiles industry weighed on the consumer discretionary sector. Supply chain problems, exacerbated by a global semiconductor shortage and Russia’s invasion of Ukraine, led to production difficulties that pressured the industry.

The iShares MSCI ACWI Low Carbon Target ETF (the “Fund”) seeks to track the investment results of an index composed of large and mid-capitalization developed and emerging market equities with a lower carbon exposure than that of the broad market, as represented by the MSCI ACWI Low Carbon Target Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was December 8, 2014. The first day of secondary market trading was December 9, 2014.

As the global economy recovered from the initial disruptions of the COVID-19 pandemic, rising economic activity drove higher energy use and global carbon emissions increased by 6% in 2021. This rise marked the largest single-year emissions increase on record, and more than reversed 2020’s decline. While increased fossil fuel use drove higher emissions, renewable energy generation reached an all-time high in 2021. Investor interest in lower-carbon investments appeared relatively strong as governments budgeted record amounts toward climate goals and Russia’s invasion of Ukraine led some countries to seek alternatives to Russian fossil fuels. However, as interest rates increased later in the reporting period, investors moved away from future-oriented growth stocks.

U.S. stocks were the largest detractors from the Index’s return as the reopening-led recovery cooled and the economy contracted in the first half of 2022. The communication services sector led the decline, driven primarily by weakness in the interactive media and services industry. A change to the tracking data policies of a popular mobile platform impeded the ability of social media companies to target specific customer demographics, reducing the value of the advertising they sell. The information technology sector also declined as payment platforms in the information technology services industry experienced slowing user growth.

Chinese stocks further detracted from the Index’s performance as strict lockdowns to prevent the spread of COVID-19 weighed on economic activity. The U.S. consumer discretionary sector stocks detracted, as the lockdowns significantly dampened consumer sentiment. Japanese industrials stocks also declined amid a notable slowdown in industrial production.

In terms of relative performance, the Index slightly underperformed the broader market, as represented by the MSCI ACWI Index, while tracking it fairly closely. The low-carbon investment process leads to underweight and overweight positions in industries with higher or lower carbon emissions, respectively. For the reporting period, the Index had underweight positions in the energy and materials sectors and overweight positions in the financials and industrials sectors. Stock selection and the underweight position in the energy sector, which performed well due to rising oil and gas prices, detracted from relative performance. However, stock selection in the information technology and financials sectors benefited the Index’s relative return.

The iShares MSCI All Country Asia ex Japan ETF (the “Fund”) seeks to track the investment results of an index composed of Asian equities, excluding Japan, as represented by the MSCI AC Asia ex Japan Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Stocks in Asia excluding Japan declined sharply for the reporting period as economic growth slowed and inflationary pressures rose. Chinese equities drove the majority of detraction from the Index’s return amid pandemic-related restrictions, a far-reaching regulatory crackdown, mounting stress in the property market, rising unemployment, weakness in consumer spending, and supply chain disruptions. Concerns about delisting from U.S. exchanges arising from audit requirements also weighed on Chinese stocks.

Within China, technology-related stocks drove the majority of detraction from the Index’s return, due to concerns surrounding slowing sales, lockdowns, and regulatory restrictions. The government’s campaign to rein in large internet firms by lessening their market advantages included billions of dollars in antitrust fines and restrictions on stock listings. While investor sentiment periodically shifted toward signs of an easing crackdown, further government statements repeatedly reignited uncertainty. In the information technology sector, stocks in the internet and direct marketing industry detracted the most from the Index’s return as regulations weakened companies’ competitive advantages, while concerns surrounding new customer growth and slowing consumption pressured profit margins and earnings. Growth in cloud businesses stagnated amid competition from government-backed rivals.

In the communication services sector, COVID-related restrictions and regulatory issues weighed on earnings and forward guidance. The media and entertainment industry declined amid rules limiting video game use and restrictions on key advertisers. Revenue growth slowed for media and video gaming firms, constraining earnings and raising concerns about future growth. While China resumed the approval of video games in April 2022 after a months-long suspension, titles from two of the country’s largest gaming companies were not included.

South Korean stocks also detracted significantly from the Index’s performance, led by the technology hardware and equipment industry in the information technology sector. Budgetary reductions from major chip customers amid global economic uncertainty slowed sales growth, reduced profits, and affected capacity expansion plans for chip producers. Memory prices weakened along with demand for personal computers and smartphones.

The iShares MSCI Europe Financials ETF (the “Fund”) seeks to track the investment results of an index composed of developed market European equities in the financials sector, as represented by the MSCI Europe Financials Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

European financials equities declined for the reporting period, as soaring inflation and rising interest rates squeezed borrowers, the euro fell sharply against the U.S. dollar, and Eurozone business growth slowed. While higher interest rates often benefit banks, which constituted approximately 46% of the Index on average during the reporting period, sharply rising prices limit customers’ ability to repay higher-interest loans. To combat inflation, the ECB raised its benchmark interest rate by 0.50% in July 2022, its first increase in 11 years, leading to concerns that European banks could face rising short-term financing costs and declining demand for loans.

Financials stocks in Sweden detracted the most from the Index’s return, namely venture capital firms in the diversified financial services industry, as the substantial decline in global markets lowered the valuations of many of their portfolio companies. In this difficult environment for capital, Swedish entrepreneurial investors sold some underlying assets to shore up finances, leading to stock price declines for the parent companies. The sharp sell-off in information technology and growth-oriented companies during the reporting period led to a slowdown in new investment deals undertaken by leading private investor conglomerates.

German financials stocks detracted notably from the Index’s performance, as rising interest rates and recession fears drove stocks of insurers lower. In addition, a leading German insurer settled lawsuits from investors for nearly $4 billion in the wake of a hedge fund collapse, with potential regulatory fines expected to increase those costs.

Banking stocks in Italy, Spain, and France also detracted from the Index’s return. As nations worldwide tightened sanctions against Russia for its war in Ukraine, uncertainty arose about the exposures of European lenders to Russian assets, including major financial institutions in all three countries. Among Eurozone nations, Italy and France had the highest exposure to Russian assets, according to data published in September 2021. Amid investor concerns about credit contagion, Italy’s two largest banks sought to reassure investors that they maintained sufficient capital to weather even a worst-case scenario of pulling entirely out of Russia.

The iShares MSCI Europe Small-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of small-capitalization developed market equities in Europe, as represented by the MSCI Europe Small Cap Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Small-capitalization European equities declined sharply during the reporting period, as higher inflation, rising interest rates, and weakening global economies sent markets lower. Russia’s invasion of Ukraine also increased investor uncertainty, as international sanctions on Russia disrupted global economic activity, unsettled commodities markets, and constrained companies that had connections to Russia. The combination of resilient consumer demand and persistent supply chain disruptions contributed to higher inflation in many countries. This inflationary pressure led some of the world’s central banks to raise interest rates.

Stocks in the U.K., particularly in the consumer discretionary sector, detracted the most from the Index’s performance. Stocks of several consumer discretionary companies dropped on diminished sales outlooks due to falling levels of consumer confidence, inflation rates at 40-year highs, and the slowing growth in the economy. In particular, internet and direct marketing retail companies experienced declining sales due to a reduction in online spending by consumers. British industrials stocks also weighed on the Index’s performance, particularly sellers of building supplies in the trading companies and distributors industry, as the costs of materials rose and the U.K. housing market cooled after the Bank of England raised interest rates to the highest levels in 13 years.

Stocks in Sweden further detracted from the Index’s return amid slowing economic growth and the depreciation of Swedish krona against the U.S. dollar. Swedish industrials stocks declined as war-related supply-chain constraints and higher costs for materials and energy dampened the revenues of industrial machinery manufacturers. Consumer discretionary stocks in Sweden also declined, led by the leisure products industry, as steep inflation and weak consumer confidence across regions pressured the stocks of outdoor gear brands.

Stocks in Germany weighed on the Index’s performance amid recession fears as the country’s economy stalled in the second quarter of 2022. German healthcare stocks detracted, largely due to the decision of a major pharmaceutical conglomerate to discontinue the development of a potential treatment for chronic cough and endometriosis, which pressured the stock of its project partner, a life sciences tools and services company.

The iShares MSCI Kokusai ETF (the “Fund”) seeks to track the investment results of an index composed of developed market equities, excluding Japan, as represented by the MSCI Kokusai Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Developed market stocks outside of Japan declined during the reporting period, as higher inflation, rising interest rates, and weakening global economies sent markets lower. Russia’s invasion of Ukraine increased investor uncertainty, as international sanctions on Russia disrupted global economic activity, unsettled commodities markets, and constrained companies with connections to Russia. The combination of resilient consumer demand and persistent supply chain disruptions contributed to higher inflation in many countries. This inflationary pressure led some of the world’s central banks to adopt less accommodative stances regarding monetary policy.

U.S. stocks detracted the most from the Index’s return, driven by companies in the communication services sector, which reported slowing revenue growth as advertisers reduced spending, citing inflationary pressures and slowing cooling U.S. economic growth. The U.S economy contracted slightly in the first two quarters of 2022 as business inventories and private investment declined. In addition, a change to the data tracking policies of a major technology platform reduced the effectiveness of targeted advertising. Some communications services companies declined due to falling subscriptions, as the deteriorating economic outlook led consumers to curb discretionary spending. Competition from newer entrants to the sector also drove the stocks of communication services companies lower, leading firms to suspend hiring and downgrade predictions for future growth. Despite high spending levels, robust job growth, and low unemployment, rising inflation rates precipitated a notable decrease in consumer confidence. In this environment, information technology stocks declined sharply during the first half of 2022. As pandemic-related restrictions continued to ease and consumers returned to shopping in stores, online shopping declined, further weakening the growth outlook for some information technology companies. Additionally, several companies suspended business in Russia following the invasion of Ukraine.

German stocks, particularly automobile manufacturers, also detracted from the Index’s performance as the economy slowed, prices climbed, and consumer confidence waned. The war in Ukraine disrupted supply chains and contributed to record-high inflation across the Eurozone as commodities and oil prices soared.

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.


Security	Shares		Value

Common Stocks

Australia — 2.1%
Ampol Ltd.		94,602	$	2,241,263
APA Group		390,005		3,197,788
Aristocrat Leisure Ltd.		201,160		5,018,550
ASX Ltd.		67,717		4,208,934
Aurizon Holdings Ltd.		648,234		1,834,694
Australia & New Zealand Banking Group Ltd.		837,752		13,539,128
Australia & New Zealand Banking Group Ltd., New		55,850		893,613
BHP Group Ltd.		1,535,618		42,022,733
BlueScope Steel Ltd.		148,947		1,749,588
Brambles Ltd.		504,952		4,064,208
Cochlear Ltd.		16,264		2,451,422
Coles Group Ltd.		428,394		5,642,093
Commonwealth Bank of Australia		515,745		36,626,870
Computershare Ltd.		150,098		2,651,780
CSL Ltd.		145,540		29,634,415
Dexus		396,552		2,664,831
Domino’s Pizza Enterprises Ltd.		19,219		982,665
Endeavour Group Ltd./Australia		402,359		2,241,717
Evolution Mining Ltd.		539,934		997,408
Fortescue Metals Group Ltd.		514,733		6,623,871
Glencore PLC		3,102,619		17,584,710
Goodman Group		516,700		7,561,936
GPT Group (The)		797,759		2,566,550
IDP Education Ltd.		67,145		1,350,949
Insurance Australia Group Ltd.		503,431		1,584,078
Lendlease Corp. Ltd.		221,065		1,601,536
Lottery Corp. Ltd. (The)^(a)(b)		536,783		1,702,729
Macquarie Group Ltd.		105,991		13,565,085
Medibank Pvt Ltd.		1,058,110		2,544,259
Mineral Resources Ltd.		50,156		1,911,149
Mirvac Group		1,607,428		2,435,231
National Australia Bank Ltd.		971,469		20,980,338
Newcrest Mining Ltd.		258,952		3,489,704
Northern Star Resources Ltd.		409,889		2,252,598
Orica Ltd.		168,967		2,002,636
Origin Energy Ltd.		614,685		2,580,671
Qantas Airways Ltd.^(a)		288,817		930,669
QBE Insurance Group Ltd.		495,337		4,005,158
Ramsay Health Care Ltd.		50,830		2,511,091
REA Group Ltd.		10,307		909,328
Reece Ltd.^(b)		83,193		898,511
Rio Tinto Ltd.		88,097		6,103,761
Rio Tinto PLC		372,431		22,483,465
Santos Ltd.		1,091,077		5,671,833
Scentre Group		1,710,546		3,505,323
SEEK Ltd.		140,514		2,275,924
Sonic Healthcare Ltd.		109,134		2,628,112
South32 Ltd.		1,583,809		4,316,852
Stockland		845,121		2,290,013
Suncorp Group Ltd.		383,658		3,029,858
Telstra Corp. Ltd.		1,328,445		3,630,652
Transurban Group		954,011		9,751,603
Treasury Wine Estates Ltd.		258,043		2,224,340
Vicinity Centres		1,386,685		2,028,990
Washington H Soul Pattinson & Co. Ltd.		67,452		1,221,195
Wesfarmers Ltd.		338,542		11,092,502
Westpac Banking Corp.		1,057,068		16,007,330
WiseTech Global Ltd.		52,251		1,850,449


Security	Shares		Value

Australia (continued)
Woodside Energy Group Ltd.		561,539	$	12,679,819
Woolworths Group Ltd.		379,579		9,986,375


				387,034,883

Austria — 0.0%
Erste Group Bank AG		92,762		2,351,765
OMV AG		64,203		2,734,401
Verbund AG		18,266		2,008,629
voestalpine AG		42,400		954,705


				8,049,500

Belgium — 0.2%
Ageas SA/NV		58,253		2,542,469
Anheuser-Busch InBev SA/NV		225,420		12,075,252
D’ieteren Group		6,336		1,039,903
Elia Group SA/NV		9,522		1,445,551
Groupe Bruxelles Lambert SA		50,792		4,495,858
KBC Group NV		73,208		3,834,413
Proximus SADP		27,221		377,201
Sofina SA		3,697		865,798
Solvay SA		12,556		1,102,830
UCB SA		39,627		3,096,404
Umicore SA		65,968		2,389,517
Warehouses De Pauw CVA		21,332		725,164


				33,990,360

Brazil — 0.4%
Ambev SA		1,415,906		4,085,634
Americanas SA		175,838		475,780
Atacadao SA		94,443		340,054
B3 SA - Brasil, Bolsa, Balcao		1,982,099		4,248,367
Banco Bradesco SA		90,907		254,232
Banco BTG Pactual SA		407,368		1,773,835
Banco do Brasil SA		257,252		1,788,399
Banco Santander Brasil SA		29,400		160,748
BB Seguridade Participacoes SA		164,375		920,978
BRF SA^(a)		214,643		662,087
CCR SA		528,965		1,328,010
Centrais Eletricas Brasileiras SA		345,931		3,062,774
Cia. de Saneamento Basico do Estado de Sao Paulo		110,000		949,672
Cia. Siderurgica Nacional SA		191,583		544,672
Cosan SA		360,842		1,302,047
Energisa SA		20,142		171,441
Engie Brasil Energia SA		54,547		467,235
Equatorial Energia SA		316,235		1,516,358
Hapvida Participacoes e Investimentos SA^(c)		1,278,550		1,522,172
Hypera SA		207,941		1,711,642
JBS SA		314,013		1,938,419
Klabin SA		242,578		934,381
Localiza Rent a Car SA		180,993		2,015,231
Lojas Renner SA		277,063		1,354,230
Magazine Luiza SA^(a)		796,400		397,115
Natura & Co. Holding SA		326,041		981,759
Petro Rio SA^(a)		219,085		1,025,539
Petroleo Brasileiro SA		843,173		6,023,014
Raia Drogasil SA		353,267		1,432,431
Rede D’Or Sao Luiz SA^(c)		73,525		460,268
Rumo SA		452,467		1,533,846
Suzano SA		227,206		2,120,519
Telefonica Brasil SA		195,671		1,686,656
Tim SA		335,031		815,222
TOTVS SA		108,544		553,199


Security	Shares		Value

Brazil (continued)
Ultrapar Participacoes SA		234,821	$	575,922
Vale SA		1,205,638		16,252,730
Vibra Energia SA		347,089		1,116,915
WEG SA		498,042		2,699,039


				71,202,572

Canada — 3.2%
Agnico Eagle Mines Ltd.		132,757		5,708,173
Air Canada^(a)(b)		52,213		709,058
Algonquin Power & Utilities Corp.		96,091		1,343,946
Alimentation Couche-Tard Inc.		269,927		12,059,290
AltaGas Ltd.		71,908		1,602,074
ARC Resources Ltd.		186,574		2,616,742
Bank of Montreal		203,504		20,287,627
Bank of Nova Scotia (The)		366,073		22,300,851
Barrick Gold Corp.		530,520		8,360,387
Bausch Health Companies Inc.^(a)		97,933		451,216
BCE Inc.		59,505		3,006,500
BlackBerry Ltd.^(a)(b)		147,846		908,631
Brookfield Asset Management Inc., Class A		436,369		21,652,326
Brookfield Renewable Corp., Class A		36,954		1,445,781
BRP Inc.		8,521		648,116
CAE Inc.^(a)		75,414		1,995,257
Cameco Corp.		137,355		3,537,517
Canadian Apartment Properties REIT		33,189		1,257,271
Canadian Imperial Bank of Commerce		280,325		14,180,980
Canadian National Railway Co.		183,892		23,296,864
Canadian Natural Resources Ltd.		377,993		20,872,192
Canadian Pacific Railway Ltd.		290,842		22,932,581
Canadian Tire Corp. Ltd., Class A, NVS		20,344		2,613,558
Canadian Utilities Ltd., Class A, NVS		101,674		3,291,076
CCL Industries Inc., Class B, NVS		67,219		3,376,829
Cenovus Energy Inc.		425,295		8,103,704
CGI Inc.^(a)		52,567		4,507,326
Constellation Software Inc.		6,839		11,633,910
Dollarama Inc.		99,097		6,005,949
Emera Inc.		39,917		1,892,438
Empire Co. Ltd., Class A, NVS		33,415		1,014,023
Enbridge Inc.		629,519		28,271,944
Fairfax Financial Holdings Ltd.		9,195		4,953,115
First Quantum Minerals Ltd.		197,032		3,600,444
FirstService Corp.		10,833		1,449,222
Fortis Inc.		120,102		5,673,320
Franco-Nevada Corp.		60,341		7,726,456
George Weston Ltd.		15,637		1,866,354
GFL Environmental Inc.		56,326		1,558,856
Gildan Activewear Inc.		73,252		2,146,849
Great-West Lifeco Inc.		50,422		1,225,358
Hydro One Ltd.^(c)		58,036		1,620,231
iA Financial Corp. Inc.		21,307		1,172,380
Imperial Oil Ltd.		94,416		4,524,860
Intact Financial Corp.		39,240		5,840,572
Ivanhoe Mines Ltd., Class A^(a)		182,151		1,132,265
Keyera Corp.		58,279		1,510,507
Kinross Gold Corp.		482,231		1,653,191
Lightspeed Commerce Inc.^(a)		43,323		929,691
Loblaw Companies Ltd.		40,839		3,717,623
Lundin Mining Corp.		128,554		724,813
Magna International Inc.		91,808		5,862,434
Manulife Financial Corp.		601,209		11,004,911
Metro Inc.		55,150		3,053,912


Security	Shares		Value

Canada (continued)
National Bank of Canada		86,363	$	6,059,674
Northland Power Inc.		68,729		2,253,128
Nutrien Ltd.		171,755		14,702,888
Nuvei Corp.^(a)(c)		22,352		781,286
Onex Corp.		17,206		919,588
Open Text Corp.		109,445		4,476,771
Pan American Silver Corp.		72,172		1,468,746
Parkland Corp.		52,096		1,461,723
Pembina Pipeline Corp.		186,702		7,128,078
Power Corp. of Canada		204,833		5,566,505
Quebecor Inc., Class B		33,521		744,737
Restaurant Brands International Inc.		88,614		4,750,577
RioCan REIT		21,814		350,067
Ritchie Bros Auctioneers Inc.		34,521		2,488,219
Rogers Communications Inc., Class B, NVS		119,806		5,507,773
Royal Bank of Canada		427,140		41,648,276
Saputo Inc.		117,287		2,897,027
Shaw Communications Inc., Class B, NVS		148,760		4,024,088
Shopify Inc., Class A^(a)		346,690		12,077,499
Sun Life Financial Inc.		182,875		8,491,467
Suncor Energy Inc.		477,408		16,202,532
TC Energy Corp.		293,255		15,634,313
Teck Resources Ltd., Class B		157,661		4,635,459
TELUS Corp.		218,599		5,032,446
TFI International Inc.		24,612		2,458,221
Thomson Reuters Corp.		60,634		6,808,452
TMX Group Ltd.		17,282		1,773,208
Toromont Industries Ltd.		7,611		641,011
Toronto-Dominion Bank (The)		552,139		35,864,997
Tourmaline Oil Corp.		95,901		6,008,463
Waste Connections Inc.		81,022		10,805,904
West Fraser Timber Co. Ltd.		25,783		2,413,903
Wheaton Precious Metals Corp.		148,163		5,083,973
WSP Global Inc.		25,825		3,115,819


				579,108,319

Chile — 0.0%
Banco de Chile		12,157,479		1,153,550
Banco de Credito e Inversiones SA		30,188		910,833
Banco Santander Chile		22,386,961		886,684
Cia. Cervecerias Unidas SA		119,581		690,069
Cia. Sud Americana de Vapores SA		3,698,352		400,166
Empresas CMPC SA		386,851		657,273
Empresas COPEC SA		158,813		1,300,677
Enel Americas SA		9,778,746		989,703
Enel Chile SA		9,195,982		263,296
Falabella SA		204,581		456,340


				7,708,591

China — 3.4%
360 DigiTech Inc.^(b)		29,781		432,420
3SBio Inc.^(c)		472,000		314,176
AAC Technologies Holdings Inc.		220,500		427,512
Agricultural Bank of China Ltd., Class A		5,876,000		2,481,936
Agricultural Bank of China Ltd., Class H		4,183,000		1,379,646
Aier Eye Hospital Group Co. Ltd., Class A		325,502		1,468,050
Air China Ltd., Class H^(a)		700,000		549,419
Alibaba Group Holding Ltd.^(a)		4,628,476		52,040,124
Alibaba Health Information Technology Ltd.^(a)(b)		1,652,000		992,023
A-Living Smart City Services Co. Ltd., Class A^(c)		180,750		220,472
Aluminum Corp. of China Ltd., Class H		1,516,000		555,238


Security	Shares		Value

China (continued)
Anhui Conch Cement Co. Ltd., Class A		452,392	$	2,179,459
Anhui Conch Cement Co. Ltd., Class H		71,500		282,903
ANTA Sports Products Ltd.		344,800		3,796,543
Autohome Inc., ADR		22,671		809,128
AviChina Industry & Technology Co. Ltd., Class H		971,000		518,073
Baidu Inc.^(a)		674,960		11,666,277
Bank of China Ltd., Class H		23,492,000		8,353,407
Bank of Communications Co. Ltd., Class A		4,414,400		3,022,917
Bank of Communications Co. Ltd., Class H		736,000		438,077
Bank of Ningbo Co. Ltd., Class A		434,515		2,011,920
Bank of Shanghai Co. Ltd., Class A		2,851,951		2,519,953
BeiGene Ltd., ADR^(a)		16,154		2,715,164
Beijing Capital International Airport Co. Ltd., Class H^(a)		552,000		324,495
Beijing Enterprises Holdings Ltd.		82,000		262,808
Beijing Enterprises Water Group Ltd.		1,340,000		406,262
Bilibili Inc., ADR^(a)		10,166		248,457
Bilibili Inc., Class Z^(a)		44,742		1,093,638
Bosideng International Holdings Ltd.		1,128,000		658,356
BYD Co. Ltd., Class A		65,700		3,133,582
BYD Co. Ltd., Class H		206,500		7,555,003
BYD Electronic International Co. Ltd.^(b)		220,000		565,223
CanSino Biologics Inc., Class H^(c)		39,200		328,114
CGN Power Co. Ltd., Class H^(c)		6,382,000		1,471,584
China Cinda Asset Management Co. Ltd., Class H		554,000		76,314
China CITIC Bank Corp. Ltd., Class H		2,139,000		894,059
China Coal Energy Co. Ltd., Class H		641,000		498,651
China Communications Services Corp. Ltd., Class H		582,000		236,622
China Conch Venture Holdings Ltd.		585,500		1,135,101
China Construction Bank Corp., Class H		29,508,260		18,844,275
China Everbright Bank Co. Ltd., Class A		5,641,000		2,425,432
China Everbright Environment Group Ltd.		1,206,000		641,883
China Evergrande Group^(b)(d)		740,000		107,748
China Feihe Ltd.^(c)		1,237,000		1,086,178
China Galaxy Securities Co. Ltd., Class H		1,473,500		728,687
China Gas Holdings Ltd.		888,600		1,365,907
China Hongqiao Group Ltd.		680,500		709,132
China International Capital Corp. Ltd., Class H^(c)		562,800		1,034,835
China Jinmao Holdings Group Ltd.^(a)		1,386,000		321,644
China Lesso Group Holdings Ltd.		391,000		479,194
China Life Insurance Co. Ltd., Class H		2,265,000		3,373,536
China Literature Ltd.^(a)(c)		121,000		476,871
China Longyuan Power Group Corp. Ltd., Class H		1,059,000		1,701,347
China Medical System Holdings Ltd.		460,000		731,265
China Meidong Auto Holdings Ltd.		214,000		520,072
China Mengniu Dairy Co. Ltd.		947,000		4,399,755
China Merchants Bank Co. Ltd., Class A		724,600		3,769,429
China Merchants Bank Co. Ltd., Class H		1,040,288		5,620,986
China Merchants Port Holdings Co. Ltd.		444,000		716,105
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		838,322		1,702,233
China Minsheng Banking Corp. Ltd., Class A		4,360,000		2,351,999
China Minsheng Banking Corp. Ltd., Class H		13,500		4,403
China National Building Material Co. Ltd., Class H		1,060,000		1,063,947
China Oilfield Services Ltd., Class H		670,000		617,188
China Overseas Land & Investment Ltd.		1,161,000		3,208,330
China Overseas Property Holdings Ltd.		515,000		538,247
China Pacific Insurance Group Co. Ltd., Class A		694,897		2,082,050
China Pacific Insurance Group Co. Ltd., Class H		439,000		937,715
China Petroleum & Chemical Corp., Class H		7,775,200		3,665,666


Security	Shares		Value

China (continued)
China Power International Development Ltd.		2,025,000	$	1,147,118
China Railway Group Ltd., Class H		1,302,000		775,074
China Resources Beer Holdings Co. Ltd.		452,000		3,117,765
China Resources Cement Holdings Ltd.^(b)		506,000		311,240
China Resources Gas Group Ltd.		284,000		1,191,786
China Resources Land Ltd.		838,000		3,499,722
China Resources Mixc Lifestyle Services Ltd.^(c)		207,000		877,015
China Resources Power Holdings Co. Ltd.		612,000		1,152,238
China Ruyi Holdings Ltd.^(a)(b)		1,608,000		465,430
China Shenhua Energy Co. Ltd., Class A		363,700		1,514,190
China Shenhua Energy Co. Ltd., Class H		1,210,000		3,419,871
China Southern Airlines Co. Ltd., Class H^(a)		732,000		396,431
China State Construction Engineering Corp. Ltd., Class A		5,394,877		4,027,834
China State Construction International Holdings Ltd.		686,000		711,322
China Suntien Green Energy Corp. Ltd., Class H^(b)		664,000		325,691
China Taiping Insurance Holdings Co. Ltd.		737,200		777,360
China Tourism Group Duty Free Corp. Ltd., Class A		48,592		1,514,579
China Tower Corp. Ltd., Class H^(c)		12,870,000		1,655,759
China Traditional Chinese Medicine Holdings Co. Ltd.		1,174,000		498,385
China Vanke Co. Ltd., Class A		743,696		1,894,503
China Vanke Co. Ltd., Class H		136,900		260,394
China Yangtze Power Co. Ltd., Class A		1,051,410		3,722,848
Chinasoft International Ltd.		896,000		767,076
Chongqing Zhifei Biological Products Co. Ltd., Class A		58,100		856,730
CIFI Ever Sunshine Services Group Ltd.		232,000		167,277
CIFI Holdings Group Co. Ltd.		901,576		244,861
CITIC Ltd.		1,441,000		1,558,561
CITIC Securities Co. Ltd., Class A		1,171,883		3,410,277
CITIC Securities Co. Ltd., Class H		600,525		1,234,790
CMOC Group Ltd., Class H		1,476,000		724,624
Contemporary Amperex Technology Co. Ltd., Class A^(a)		49,000		3,715,294
COSCO SHIPPING Holdings Co. Ltd., Class H		1,315,800		1,974,071
COSCO SHIPPING Ports Ltd.		542,000		404,615
Country Garden Holdings Co. Ltd.^(b)		2,294,866		887,469
Country Garden Services Holdings Co. Ltd.		594,000		1,324,646
CSPC Pharmaceutical Group Ltd.		2,791,120		3,056,149
Dali Foods Group Co. Ltd.^(c)		1,218,000		579,932
Daqo New Energy Corp., ADR^(a)		22,015		1,424,371
Dongfeng Motor Group Co. Ltd., Class H		670,000		462,966
Dongyue Group Ltd.		508,000		552,519
East Money Information Co. Ltd., Class A		372,200		1,230,198
ENN Energy Holdings Ltd.		237,000		3,866,084
Far East Horizon Ltd.^(b)		462,000		380,798
Flat Glass Group Co. Ltd., Class H^(a)		195,000		706,808
Foshan Haitian Flavouring & Food Co. Ltd., Class A		118,401		1,451,804
Fosun International Ltd.		716,000		564,110
Fuyao Glass Industry Group Co. Ltd., Class H^(c)		237,200		1,150,650
Ganfeng Lithium Co. Ltd., Class H^(c)		161,840		1,463,400
GDS Holdings Ltd., ADR^(a)		35,561		984,328
Geely Automobile Holdings Ltd.^(b)		1,809,000		3,587,055
Genscript Biotech Corp.^(a)		404,000		1,462,739
GF Securities Co. Ltd., Class H		497,800		658,980
Great Wall Motor Co. Ltd., Class H		1,093,000		1,732,749
Greentown China Holdings Ltd.		259,000		511,955
Greentown Service Group Co. Ltd.		488,000		436,787
Guangdong Investment Ltd.		986,000		960,488
Guangzhou Automobile Group Co. Ltd., Class H		1,068,000		1,002,480


Security	Shares		Value

China (continued)
H World Group Ltd., ADR		69,453	$	2,663,523
Haidilao International Holding Ltd.^(a)(b)(c)		344,000		687,305
Haier Smart Home Co. Ltd., Class H		833,400		2,667,304
Haitian International Holdings Ltd.		196,000		469,052
Haitong Securities Co. Ltd., Class H		892,800		597,953
Hangzhou Tigermed Consulting Co. Ltd., Class H^(b)(c)		50,600		525,560
Hansoh Pharmaceutical Group Co. Ltd.^(c)		394,000		767,943
Hengan International Group Co. Ltd.		197,500		955,942
Hopson Development Holdings Ltd.		227,139		300,209
Hua Hong Semiconductor Ltd.^(a)(b)(c)		182,000		545,126
Huaneng Power International Inc., Class H^(a)		1,614,000		771,672
Huatai Securities Co. Ltd., Class H^(c)		645,400		851,354
Hutchmed China Ltd., ADR^(a)(b)		38,728		506,175
Hygeia Healthcare Holdings Co. Ltd.^(c)		121,800		700,413
Industrial & Commercial Bank of China Ltd., Class A		4,276,791		2,775,943
Industrial & Commercial Bank of China Ltd., Class H		14,933,260		7,895,030
Industrial Bank Co. Ltd., Class A		936,000		2,467,436
Inner Mongolia Yili Industrial Group Co. Ltd., Class A		401,500		2,131,510
Inner Mongolia Yitai Coal Co. Ltd., Class B		387,100		610,368
Innovent Biologics Inc.^(a)(c)		376,500		1,573,789
iQIYI Inc., ADR^(a)(b)		103,714		396,187
JD Health International Inc.^(a)(b)(c)		339,650		2,576,255
JD.com Inc., Class A		630,226		18,801,246
Jiangsu Expressway Co. Ltd., Class H		350,000		305,432
Jiangsu Hengrui Medicine Co. Ltd., Class A		275,718		1,443,199
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A		58,600		1,435,458
Jiangxi Copper Co. Ltd., Class H		375,000		459,376
Jinxin Fertility Group Ltd.^(c)		528,500		410,642
Jiumaojiu International Holdings Ltd.^(c)		307,000		667,995
JOYY Inc., ADR		19,738		511,017
Kanzhun Ltd., ADR^(a)(b)		43,192		1,015,444
KE Holdings Inc., ADR^(a)(b)		107,759		1,520,479
Kingboard Holdings Ltd.		282,000		825,049
Kingdee International Software Group Co. Ltd.^(a)(b)		864,000		1,865,481
Kingsoft Corp. Ltd.		303,600		1,013,708
Kuaishou Technology^(a)(c)		529,300		5,321,817
Kunlun Energy Co. Ltd.		1,192,000		877,511
Kweichow Moutai Co. Ltd., Class A		23,232		6,531,876
Legend Biotech Corp., ADR^(a)		18,891		892,411
Lenovo Group Ltd.^(b)		2,362,000		2,290,655
Li Auto Inc., ADR^(a)		173,387		5,694,029
Li Ning Co. Ltd.		698,000		5,661,919
Logan Group Co. Ltd.^(b)(d)		214,000		40,892
Longfor Group Holdings Ltd.^(c)		506,000		1,690,732
LONGi Green Energy Technology Co. Ltd., Class A		225,820		2,064,678
Lufax Holding Ltd., ADR		245,688		1,125,251
Luxshare Precision Industry Co. Ltd., Class A		279,340		1,405,957
Luzhou Laojiao Co. Ltd., Class A		35,100		1,156,374
Meituan, Class B^(a)(c)		1,254,800		28,149,366
Microport Scientific Corp.^(a)		289,000		681,415
Ming Yuan Cloud Group Holdings Ltd.		323,000		296,538
Minth Group Ltd.		244,000		652,270
MMG Ltd.^(a)(b)		904,000		267,405
Muyuan Foods Co. Ltd., Class A		171,412		1,517,287
NetEase Inc.		623,090		11,655,995
New China Life Insurance Co. Ltd., Class H		231,500		551,671
New Oriental Education & Technology Group Inc.^(a)		470,030		1,288,516
NIO Inc., ADR^(a)		401,562		7,922,818
Nongfu Spring Co. Ltd., Class H^(c)		541,200		3,243,513


Security	Shares		Value

China (continued)
People’s Insurance Co. Group of China Ltd. (The), Class H		1,986,000	$	594,622
PetroChina Co. Ltd., Class H		6,376,000		2,977,333
Pharmaron Beijing Co. Ltd., Class H^(c)		103,500		842,031
PICC Property & Casualty Co. Ltd., Class H		1,780,000		1,827,155
Pinduoduo Inc., ADR^(a)(b)		139,671		6,845,276
Ping An Bank Co. Ltd., Class A		969,100		1,823,369
Ping An Healthcare and Technology Co. Ltd.^(a)(b)(c)		197,200		515,046
Ping An Insurance Group Co. of China Ltd., Class A		582,200		3,636,599
Ping An Insurance Group Co. of China Ltd., Class H		1,670,000		9,814,654
Poly Developments and Holdings Group Co. Ltd., Class A		823,199		2,031,815
Pop Mart International Group Ltd.^(c)		153,600		351,204
Postal Savings Bank of China Co. Ltd., Class A		2,856,200		1,986,515
Postal Savings Bank of China Co. Ltd., Class H^(c)		1,333,000		881,945
RLX Technology Inc., ADR^(a)(b)		196,489		318,312
SAIC Motor Corp. Ltd., Class A		668,113		1,605,839
Sany Heavy Equipment International Holdings Co. Ltd.^(b)		555,000		603,950
Seazen Group Ltd.^(a)		534,000		183,003
SF Holding Co. Ltd., Class A		235,600		1,741,602
Shandong Gold Mining Co. Ltd., Class H^(b)(c)		298,500		519,772
Shandong Weigao Group Medical Polymer Co. Ltd., Class H		835,600		1,045,219
Shanghai Baosight Software Co. Ltd., Class B		132,380		444,076
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H		210,000		761,028
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B		330,800		290,912
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		258,500		389,279
Shanghai Pudong Development Bank Co. Ltd., Class A		2,937,765		3,161,500
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A		32,100		1,303,655
Shenzhen International Holdings Ltd.		296,500		273,104
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		31,800		1,365,950
Shenzhou International Group Holdings Ltd.		225,700		2,373,949
Shimao Group Holdings Ltd.^(b)(d)		279,000		79,969
Sino Biopharmaceutical Ltd.		3,351,000		1,942,718
Sinopharm Group Co. Ltd., Class H		373,600		855,987
Sinotruk Hong Kong Ltd.		188,000		222,144
Smoore International Holdings Ltd.^(b)(c)		536,000		1,237,851
Sunac China Holdings Ltd.^(d)		673,000		171,467
Sunny Optical Technology Group Co. Ltd.		228,000		3,084,520
TAL Education Group, ADR^(a)		126,310		621,445
Tencent Holdings Ltd.		1,877,600		72,567,008
Tencent Music Entertainment Group, ADR^(a)(b)		210,271		885,241
Tingyi Cayman Islands Holding Corp.		750,000		1,234,640
Tongcheng Travel Holdings Ltd.^(a)		431,200		824,287
Topsports International Holdings Ltd.^(c)		512,000		427,064
TravelSky Technology Ltd., Class H		374,000		619,842
Trip.com Group Ltd., ADR^(a)(b)		164,600		4,243,388
Tsingtao Brewery Co. Ltd., Class H		206,000		2,012,226
Uni-President China Holdings Ltd.		586,000		536,051
Vipshop Holdings Ltd., ADR^(a)(b)		137,835		1,262,569
Wanhua Chemical Group Co. Ltd., Class A		150,453		1,868,302
Want Want China Holdings Ltd.^(b)		1,672,000		1,360,740
Weibo Corp., ADR^(a)(b)		20,779		399,372
Weichai Power Co. Ltd., Class H		649,000		927,868


Security	Shares		Value

China (continued)
Wens Foodstuffs Group Co. Ltd., Class A^(a)		712,016	$	2,538,554
Wharf Holdings Ltd. (The)		404,200		1,478,117
Wuliangye Yibin Co. Ltd., Class A		103,000		2,725,658
WuXi AppTec Co. Ltd., Class A		138,659		1,918,293
WuXi AppTec Co. Ltd., Class H^(c)		57,212		693,076
Wuxi Biologics Cayman Inc., New^(a)(c)		1,095,500		10,486,251
Xiaomi Corp., Class B^(a)(c)		4,564,600		7,179,136
Xinjiang Goldwind Science & Technology Co. Ltd., Class H		319,600		570,965
Xinyi Solar Holdings Ltd.		1,524,000		2,588,987
XPeng Inc., ADR^(a)(b)		134,024		3,274,206
Xtep International Holdings Ltd.		379,500		617,171
Yadea Group Holdings Ltd.^(c)		446,000		961,858
Yankuang Energy Group Co. Ltd., Class H		576,000		1,799,891
Yihai International Holding Ltd.		194,000		568,278
Yuexiu Property Co. Ltd.		381,000		475,988
Yum China Holdings Inc.^(b)		137,505		6,697,869
Zai Lab Ltd., ADR^(a)(b)		32,234		1,306,444
Zhejiang Expressway Co. Ltd., Class H		528,000		424,972
ZhongAn Online P&C Insurance Co. Ltd., Class H^(a)(b)(c)		208,900		530,442
Zhongsheng Group Holdings Ltd.		187,000		1,070,562
Zhuzhou CRRC Times Electric Co. Ltd.		182,400		783,290
Zijin Mining Group Co. Ltd., Class H		2,048,000		2,399,869
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H		637,800		331,595
ZTE Corp., Class H		229,200		493,225
ZTO Express Cayman Inc., ADR^(b)		126,930		3,248,139


				619,791,081

Colombia — 0.0%
Ecopetrol SA		2,735,222		1,454,702
Interconexion Electrica SA ESP		26,649		128,054


				1,582,756

Czech Republic — 0.0%
CEZ AS		80,814		3,672,446
Komercni Banka AS		47,505		1,200,281


				4,872,727

Denmark — 0.7%
AP Moller - Maersk A/S, Class A		2,102		5,631,205
AP Moller - Maersk A/S, Class B, NVS		588		1,605,436
Carlsberg A/S, Class B		34,249		4,429,830
Chr Hansen Holding A/S		34,978		2,289,409
Coloplast A/S, Class B		30,865		3,612,406
Danske Bank A/S		208,578		2,916,817
Demant A/S^(a)		24,815		945,345
DSV A/S		64,217		10,820,622
Genmab A/S^(a)		21,348		7,596,043
GN Store Nord A/S		37,562		1,308,063
Novo Nordisk A/S, Class B		519,181		60,470,960
Novozymes A/S, Class B		67,346		4,302,080
Orsted A/S^(c)		51,707		6,019,555
Pandora A/S		34,863		2,590,032
Tryg A/S		127,055		2,897,025
Vestas Wind Systems A/S		318,016		8,358,645


				125,793,473

Egypt — 0.0%
Commercial International Bank Egypt SAE		423,208		848,814


Security	Shares		Value

Finland — 0.3%
Elisa OYJ		32,204	$	1,781,045
Fortum OYJ		154,616		1,735,455
Kesko OYJ, Class B		86,900		2,149,312
Kone OYJ, Class B		76,639		3,502,512
Neste OYJ		134,700		6,926,447
Nokia OYJ		1,686,399		8,783,744
Nordea Bank Abp		972,471		9,588,530
Orion OYJ, Class B		27,418		1,308,867
Sampo OYJ, Class A		152,650		6,594,897
Stora Enso OYJ, Class R		201,732		3,119,924
UPM-Kymmene OYJ		170,155		5,392,171
Wartsila OYJ Abp		175,448		1,541,579


				52,424,483

France — 2.7%
Accor SA^(a)		71,958		1,867,231
Aeroports de Paris^(a)		5,652		780,947
Air Liquide SA		164,605		22,630,285
Airbus SE		182,889		19,719,400
Alstom SA^(b)		93,316		2,217,719
Amundi SA^(c)		12,544		681,074
ArcelorMittal SA		186,516		4,602,083
Arkema SA		26,955		2,553,597
AXA SA		553,747		12,759,720
BioMerieux		10,445		1,130,539
BNP Paribas SA		338,194		15,978,750
Bollore SE		77,745		392,524
Bouygues SA^(b)		82,656		2,498,669
Bureau Veritas SA		30,201		832,962
Capgemini SE		54,505		10,396,111
Carrefour SA		199,272		3,396,002
Cie Generale des Etablissements Michelin SCA		236,048		6,605,700
Cie. de Saint-Gobain		166,937		7,784,242
Covivio		9,045		572,038
Credit Agricole SA		352,094		3,244,134
Danone SA		190,587		10,508,806
Dassault Systemes SE		164,019		7,035,049
Edenred		92,551		4,750,689
Eiffage SA^(b)		15,205		1,426,822
Electricite de France SA		147,922		1,796,402
Engie SA		574,822		7,111,892
EssilorLuxottica SA		90,943		14,258,256
Eurazeo SE		3,235		231,068
Eurofins Scientific SE		31,663		2,468,396
Gecina SA		5,927		607,699
Getlink SE		204,214		4,087,205
Hermes International		9,873		13,545,201
Ipsen SA		10,773		1,089,766
Kering SA		23,450		13,424,913
Klepierre SA		40,707		904,511
La Francaise des Jeux SAEM^(c)		29,576		1,056,396
Legrand SA		89,851		7,355,977
L’Oreal SA		75,914		28,699,843
LVMH Moet Hennessy Louis Vuitton SE		84,581		58,729,155
Orange SA		434,726		4,442,218
Pernod Ricard SA		68,150		13,387,682
Publicis Groupe SA		85,528		4,551,402
Remy Cointreau SA		4,015		793,192
Renault SA^(a)		68,412		2,022,558
Safran SA		103,166		11,339,546
Sanofi		350,317		34,812,234


Security	Shares		Value

France (continued)
Sartorius Stedim Biotech		7,176	$	2,870,682
Schneider Electric SE		174,389		24,118,666
SEB SA		5,107		429,960
Societe Generale SA		231,568		5,188,603
Sodexo SA		14,360		1,166,801
Teleperformance		12,730		4,256,924
Thales SA		26,854		3,339,553
TotalEnergies SE		772,179		39,440,860
Ubisoft Entertainment SA^(a)		32,599		1,387,883
Unibail-Rodamco-Westfield^(a)(b)		39,422		2,238,568
Valeo		79,102		1,699,113
Veolia Environnement SA		223,668		5,594,125
Vinci SA		160,531		15,388,300
Vivendi SE		240,478		2,282,938
Wendel SE		16,579		1,525,925
Worldline SA/France^(a)(c)		76,834		3,391,309


				485,400,815

Germany — 1.7%
adidas AG		53,921		9,327,873
Allianz SE, Registered		121,672		22,096,376
Aroundtown SA^(b)		279,398		896,039
BASF SE		281,107		12,527,582
Bayer AG, Registered		303,464		17,701,127
Bayerische Motoren Werke AG		109,179		8,921,379
Bechtle AG		27,051		1,251,213
Beiersdorf AG		28,546		2,943,798
Brenntag SE		30,873		2,168,677
Carl Zeiss Meditec AG, Bearer		10,635		1,552,070
Commerzbank AG^(a)		336,310		2,304,103
Continental AG		33,989		2,421,415
Covestro AG^(c)		66,717		2,250,056
Daimler Truck Holding AG^(a)		137,773		3,764,641
Delivery Hero SE^(a)(c)		49,807		2,403,006
Deutsche Bank AG, Registered		638,104		5,581,465
Deutsche Boerse AG		60,151		10,500,277
Deutsche Lufthansa AG, Registered^(a)(b)		138,276		851,207
Deutsche Post AG, Registered		304,343		12,155,418
Deutsche Telekom AG, Registered		1,009,012		19,170,194
E.ON SE		710,927		6,390,594
Evonik Industries AG		44,116		940,980
Fresenius Medical Care AG & Co. KGaA		58,963		2,185,963
Fresenius SE & Co. KGaA		127,580		3,264,639
GEA Group AG		61,825		2,307,778
Hannover Rueck SE		12,410		1,760,322
HeidelbergCement AG		43,873		2,234,759
HelloFresh SE^(a)		54,884		1,516,979
Henkel AG & Co. KGaA		35,670		2,249,164
Infineon Technologies AG		421,403		11,556,752
KION Group AG		15,807		720,998
Knorr-Bremse AG		14,044		836,679
LEG Immobilien SE		18,126		1,646,661
Mercedes-Benz Group AG		247,875		14,618,176
Merck KGaA		43,138		8,216,090
MTU Aero Engines AG		18,003		3,480,221
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered		42,949		9,736,796
Nemetschek SE		21,863		1,463,653
Puma SE		34,809		2,350,435
QIAGEN NV^(a)		55,502		2,781,581
Rational AG		1,032		719,351


Security	Shares		Value

Germany (continued)
Rheinmetall AG		13,203	$	2,421,127
RWE AG		200,379		8,243,180
SAP SE		319,755		29,824,415
Scout24 SE^(c)		28,719		1,641,822
Siemens AG, Registered		232,932		25,982,158
Siemens Healthineers AG^(c)		64,719		3,316,436
Symrise AG		33,493		3,908,151
Telefonica Deutschland Holding AG		210,293		559,091
Uniper SE^(b)		39,844		266,213
United Internet AG, Registered		24,593		647,808
Volkswagen AG		2,686		532,010
Vonovia SE		223,654		7,452,105
Zalando SE^(a)(c)		68,976		1,941,889


				308,502,892

Greece — 0.0%
Hellenic Telecommunications Organization SA		56,482		972,504
JUMBO SA		65,225		1,011,300
OPAP SA		37,262		516,239


				2,500,043

Hong Kong — 0.8%
AIA Group Ltd.		3,747,600		37,650,801
Alibaba Pictures Group Ltd.^(a)		3,820,000		325,949
BOC Hong Kong Holdings Ltd.		1,096,500		3,966,385
Budweiser Brewing Co. APAC Ltd.^(c)		567,000		1,569,986
Chow Tai Fook Jewellery Group Ltd.		555,800		1,099,238
CK Asset Holdings Ltd.		653,516		4,626,715
CK Hutchison Holdings Ltd.		804,516		5,336,577
CK Infrastructure Holdings Ltd.		215,000		1,348,216
CLP Holdings Ltd.		513,500		4,354,259
ESR Group Ltd.^(a)(c)		745,400		1,938,358
Futu Holdings Ltd., ADR^(a)(b)		22,276		926,682
Galaxy Entertainment Group Ltd.		586,000		3,486,157
Hang Lung Properties Ltd.		610,000		1,112,941
Hang Seng Bank Ltd.		228,700		3,689,072
Henderson Land Development Co. Ltd.		299,003		1,040,873
HK Electric Investments & HK Electric Investments Ltd., Class SS		1,345,500		1,216,965
HKT Trust & HKT Ltd., Class SS		1,215,000		1,702,355
Hong Kong & China Gas Co. Ltd.		3,778,040		3,990,110
Hong Kong Exchanges & Clearing Ltd.		357,000		16,382,885
Hongkong Land Holdings Ltd.^(b)		365,600		1,900,411
Jardine Matheson Holdings Ltd.		58,100		3,068,599
Kingboard Laminates Holdings Ltd.		494,000		452,743
Link REIT		650,000		5,443,314
MTR Corp. Ltd.		432,500		2,290,306
New World Development Co. Ltd.		483,916		1,618,165
Nine Dragons Paper Holdings Ltd.		366,000		301,856
Orient Overseas International Ltd.		40,000		1,394,029
Power Assets Holdings Ltd.		450,000		2,946,485
Sands China Ltd.^(a)		715,200		1,677,530
Sino Land Co. Ltd.		550,000		817,210
SITC International Holdings Co. Ltd.		441,000		1,501,572
Sun Hung Kai Properties Ltd.		429,500		5,126,998
Swire Pacific Ltd., Class A		136,000		774,536
Swire Properties Ltd.		195,800		466,538
Techtronic Industries Co. Ltd.		407,500		4,521,873
Vinda International Holdings Ltd.		204,000		541,841
WH Group Ltd.^(c)		3,430,500		2,598,044
Wharf Real Estate Investment Co. Ltd.		476,200		2,119,665


Security	Shares		Value

Hong Kong (continued)
Xinyi Glass Holdings Ltd.		547,000	$	1,078,866


				136,405,105

Hungary — 0.0%
MOL Hungarian Oil & Gas PLC		58,719		432,314
OTP Bank Nyrt		82,440		1,701,923
Richter Gedeon Nyrt		14,254		291,569


				2,425,806

India — 1.5%
Adani Enterprises Ltd.		88,206		2,869,934
Adani Green Energy Ltd.^(a)		113,060		3,116,220
Adani Ports & Special Economic Zone Ltd.		191,696		1,852,882
Adani Power Ltd.^(a)		228,935		913,174
Adani Total Gas Ltd.		86,659		3,428,110
Adani Transmission Ltd.^(a)		88,206		3,476,396
Ambuja Cements Ltd.		124,367		589,911
Apollo Hospitals Enterprise Ltd.		36,341		1,939,571
Asian Paints Ltd.		138,671		5,858,134
Aurobindo Pharma Ltd.		116,547		806,121
Avenue Supermarts Ltd.^(a)(c)		50,019		2,690,312
Axis Bank Ltd.		577,306		5,304,169
Bajaj Auto Ltd.		20,243		1,002,298
Bajaj Finance Ltd.		90,928		8,322,228
Bajaj Finserv Ltd.		14,311		2,732,808
Bandhan Bank Ltd.^(c)		184,727		647,128
Bharat Electronics Ltd.		359,504		1,250,583
Bharat Forge Ltd.		59,083		547,640
Bharat Petroleum Corp. Ltd.		230,953		965,012
Bharti Airtel Ltd.^(a)		785,662		6,737,240
Biocon Ltd.		133,312		518,111
Britannia Industries Ltd.		36,816		1,816,013
Cholamandalam Investment and Finance Co. Ltd.		150,203		1,334,389
Cipla Ltd.		164,158		2,029,279
Coal India Ltd.		251,707		672,403
Colgate-Palmolive India Ltd.		32,670		655,194
Container Corp. of India Ltd.		90,484		816,085
Dabur India Ltd.		179,025		1,322,446
Divi’s Laboratories Ltd.		46,737		2,267,202
DLF Ltd.		194,177		950,214
Dr. Reddy’s Laboratories Ltd.		41,253		2,134,600
Eicher Motors Ltd.		48,307		1,892,521
GAIL India Ltd.		451,947		837,858
Godrej Consumer Products Ltd.^(a)		94,801		1,023,770
Godrej Properties Ltd.^(a)		37,086		708,487
Grasim Industries Ltd.		92,757		1,849,211
Havells India Ltd.		78,137		1,236,382
HCL Technologies Ltd.		361,228		4,344,129
HDFC Life Insurance Co. Ltd.^(c)		304,612		2,141,055
Hero MotoCorp Ltd.		39,259		1,401,661
Hindalco Industries Ltd.		458,430		2,412,822
Hindustan Unilever Ltd.		266,711		8,909,971
Housing Development Finance Corp. Ltd.		548,302		16,546,556
ICICI Bank Ltd.		1,412,389		14,689,912
ICICI Lombard General Insurance Co. Ltd.^(c)		50,179		774,639
Indian Railway Catering & Tourism Corp. Ltd.		83,845		678,219
Indraprastha Gas Ltd.		104,676		458,779
Info Edge India Ltd.		28,092		1,543,540
Infosys Ltd.		1,053,183		20,659,471
InterGlobe Aviation Ltd.^(a)(c)		39,590		938,769
ITC Ltd.		1,050,326		4,027,906


Security	Shares		Value

India (continued)
JSW Steel Ltd.		292,778	$	2,332,048
Jubilant Foodworks Ltd.		133,601		932,666
Kotak Mahindra Bank Ltd.		198,495		4,558,614
Larsen & Toubro Infotech Ltd.^(c)		14,120		847,529
Larsen & Toubro Ltd.		212,581		4,872,098
Lupin Ltd.		94,058		766,157
Mahindra & Mahindra Ltd.		259,766		3,832,849
Marico Ltd.		148,901		976,032
Maruti Suzuki India Ltd.		43,637		4,855,891
Mindtree Ltd.		22,539		976,418
Nestle India Ltd.		9,534		2,334,835
NTPC Ltd.		1,237,756		2,393,789
Oil & Natural Gas Corp. Ltd.		689,900		1,171,166
Page Industries Ltd.		1,783		1,102,668
PI Industries Ltd.		20,687		808,939
Pidilite Industries Ltd.		44,530		1,381,424
Piramal Enterprises Ltd.		34,329		770,396
Power Grid Corp. of India Ltd.		776,182		2,101,948
Reliance Industries Ltd.		904,758		28,775,216
Samvardhana Motherson International Ltd.		340,369		549,367
SBI Life Insurance Co. Ltd.^(c)		149,703		2,452,376
Shree Cement Ltd.		3,284		852,360
Shriram Transport Finance Co. Ltd.		68,768		1,203,725
Siemens Ltd.		19,968		680,604
SRF Ltd.		48,864		1,504,346
State Bank of India		613,932		4,114,003
Sun Pharmaceutical Industries Ltd.		305,818		3,647,556
Tata Consultancy Services Ltd.		293,445		12,274,447
Tata Consumer Products Ltd.		210,744		2,163,977
Tata Elxsi Ltd.		11,103		1,223,897
Tata Motors Ltd.^(a)		550,244		3,139,524
Tata Power Co. Ltd. (The)		486,301		1,369,025
Tata Steel Ltd.		2,398,680		3,264,764
Tech Mahindra Ltd.		213,352		2,837,030
Titan Co. Ltd.		116,192		3,460,394
Trent Ltd.		37,257		598,698
UltraTech Cement Ltd.		32,785		2,717,489
UPL Ltd.		177,005		1,660,579
Vedanta Ltd.		221,160		712,324
Wipro Ltd.		437,985		2,337,005
Yes Bank Ltd.^(a)		1,743,745		329,836
Zomato Ltd.^(a)		559,172		332,366


				275,857,840

Indonesia — 0.2%
Adaro Energy Indonesia Tbk PT		4,744,900		1,041,877
Adaro Minerals Indonesia Tbk PT^(a)		3,210,500		400,309
Aneka Tambang Tbk		2,576,500		340,359
Astra International Tbk PT		7,726,300		3,299,887
Bank Central Asia Tbk PT		14,226,800		7,074,417
Bank Jago Tbk PT^(a)		1,396,700		998,093
Bank Mandiri Persero Tbk PT		5,381,014		3,012,067
Bank Negara Indonesia Persero Tbk PT		3,474,288		1,843,859
Bank Rakyat Indonesia Persero Tbk PT		20,544,730		6,064,656
Barito Pacific Tbk PT		7,598,500		461,577
Charoen Pokphand Indonesia Tbk PT		2,851,145		1,076,448
Gudang Garam Tbk PT		125,300		235,274
Indah Kiat Pulp & Paper Tbk PT		682,500		349,987
Indofood Sukses Makmur Tbk PT		3,049,600		1,398,700
Kalbe Farma Tbk PT		8,902,700		972,822
Merdeka Copper Gold Tbk PT^(a)		4,764,832		1,307,700


Security	Shares		Value

Indonesia (continued)
Semen Indonesia Persero Tbk PT		1,576,000	$	694,456
Sumber Alfaria Trijaya Tbk PT		5,609,700		710,168
Telkom Indonesia Persero Tbk PT		13,508,500		3,858,298
Unilever Indonesia Tbk PT		3,064,100		933,014
United Tractors Tbk PT		851,106		1,860,017


				37,933,985

Ireland — 0.6%
CRH PLC		267,370		10,260,094
Flutter Entertainment PLC, Class DI^(a)		47,140		4,732,828
James Hardie Industries PLC		135,303		3,341,538
Kerry Group PLC, Class A		64,041		6,759,599
Kingspan Group PLC		28,810		1,864,816
Linde PLC		157,825		47,663,150
Seagate Technology Holdings PLC		66,450		5,314,671
Smurfit Kappa Group PLC		103,642		3,756,753
STERIS PLC		25,289		5,706,463
Trane Technologies PLC		75,616		11,114,796


				100,514,708

Israel — 0.2%
Azrieli Group Ltd.		10,219		819,124
Bank Hapoalim BM		207,863		1,937,284
Bank Leumi Le-Israel BM		273,349		2,657,939
Check Point Software Technologies Ltd.^(a)		29,582		3,685,917
CyberArk Software Ltd.^(a)(b)		11,340		1,475,674
Elbit Systems Ltd.^(b)		9,213		2,125,747
ICL Group Ltd.		316,677		2,885,693
Isracard Ltd.		2		6
Israel Discount Bank Ltd., Class A		254,417		1,446,579
Kornit Digital Ltd.^(a)		16,093		437,890
Mizrahi Tefahot Bank Ltd.		75,033		2,789,430
Nice Ltd.^(a)		21,030		4,489,848
Teva Pharmaceutical Industries Ltd., ADR^(a)(b)		357,998		3,358,021
Tower Semiconductor Ltd.^(a)		35,339		1,684,537
Wix.com Ltd.^(a)(b)		17,393		1,031,927
ZIM Integrated Shipping Services Ltd.		25,155		1,253,222


				32,078,838

Italy — 0.5%
Amplifon SpA		32,817		1,085,197
Assicurazioni Generali SpA		304,638		4,554,230
Atlantia SpA		161,534		3,733,154
DiaSorin SpA		7,892		1,097,323
Enel SpA		2,433,240		12,266,606
Eni SpA		743,379		8,935,846
Ferrari NV		40,150		8,526,344
FinecoBank Banca Fineco SpA		157,701		1,959,902
Infrastrutture Wireless Italiane SpA^(c)		45,609		479,276
Intesa Sanpaolo SpA		4,629,842		8,221,712
Mediobanca Banca di Credito Finanziario SpA		256,574		2,200,561
Moncler SpA		42,539		2,132,432
Nexi SpA^(a)(c)		162,117		1,472,353
Poste Italiane SpA^(c)		103,000		865,232
Prysmian SpA		53,729		1,708,415
Recordati Industria Chimica e Farmaceutica SpA		57,548		2,552,213
Snam SpA		730,054		3,663,070
Stellantis NV		638,587		9,170,270
Telecom Italia SpA/Milano^(a)(b)		3,170,292		703,359
Tenaris SA		177,613		2,485,522
Terna - Rete Elettrica Nazionale		656,508		5,026,096


Security	Shares		Value

Italy (continued)
UniCredit SpA		643,808	$	6,367,059


				89,206,172

Japan — 5.4%
Advantest Corp.		53,500		3,182,018
Aeon Co. Ltd.		185,200		3,734,912
AGC Inc.		58,300		2,125,223
Aisin Corp.		44,000		1,306,738
Ajinomoto Co. Inc.		138,600		3,647,394
Asahi Group Holdings Ltd.		135,500		4,710,839
Asahi Intecc Co. Ltd.		69,100		1,278,352
Asahi Kasei Corp.		427,200		3,427,171
Astellas Pharma Inc.		568,500		8,903,497
Azbil Corp.		28,300		851,919
Bandai Namco Holdings Inc.		57,300		4,476,414
Bridgestone Corp.		162,200		6,326,750
Brother Industries Ltd.		80,500		1,507,880
Canon Inc.		281,600		6,662,042
Capcom Co. Ltd.		56,900		1,581,679
Central Japan Railway Co.		38,500		4,508,230
Chubu Electric Power Co. Inc.		166,400		1,775,057
Chugai Pharmaceutical Co. Ltd.		206,900		5,812,397
Concordia Financial Group Ltd.		677,600		2,305,194
CyberAgent Inc.		119,900		1,196,410
Dai Nippon Printing Co. Ltd.		92,000		2,030,194
Daifuku Co. Ltd.		28,300		1,804,593
Dai-ichi Life Holdings Inc.		321,500		5,592,453
Daiichi Sankyo Co. Ltd.		540,500		14,331,197
Daikin Industries Ltd.		73,400		12,872,762
Daito Trust Construction Co. Ltd.		17,400		1,649,565
Daiwa House Industry Co. Ltd.		152,400		3,765,510
Daiwa House REIT Investment Corp.		903		2,173,336
Daiwa Securities Group Inc.		446,200		2,059,759
Denso Corp.		126,600		6,924,395
Dentsu Group Inc.		66,500		2,322,948
Disco Corp.		9,000		2,198,967
East Japan Railway Co.		77,600		4,051,260
Eisai Co. Ltd.		71,000		3,251,433
ENEOS Holdings Inc.		967,980		3,744,536
FANUC Corp.		59,800		10,313,136
Fast Retailing Co. Ltd.		16,800		10,173,917
Fuji Electric Co. Ltd.		40,700		1,838,251
FUJIFILM Holdings Corp.		111,300		6,357,681
Fujitsu Ltd.		57,900		7,762,210
GLP J-Reit		1,710		2,248,913
GMO Payment Gateway Inc.		14,200		1,180,061
Hakuhodo DY Holdings Inc.		66,300		681,938
Hamamatsu Photonics KK		53,700		2,440,175
Hankyu Hanshin Holdings Inc.		66,400		1,926,047
Hikari Tsushin Inc.		6,500		716,223
Hirose Electric Co. Ltd.		12,800		1,838,918
Hitachi Ltd.		281,100		14,231,543
Hitachi Metals Ltd.^(a)		78,900		1,213,234
Honda Motor Co. Ltd.		475,800		12,193,411
Hoshizaki Corp.		31,200		930,759
Hoya Corp.		112,400		11,261,540
Hulic Co. Ltd.		124,800		1,000,907
Ibiden Co. Ltd.		36,500		1,077,171
Idemitsu Kosan Co. Ltd.		65,400		1,700,714
Iida Group Holdings Co. Ltd.		36,200		592,681
Inpex Corp.		319,800		3,665,475


Security	Shares		Value

Japan (continued)
Isuzu Motors Ltd.		173,100	$	1,898,665
Ito En Ltd.		22,300		1,050,805
ITOCHU Corp.		341,900		9,952,593
Itochu Techno-Solutions Corp.		33,500		897,790
Japan Exchange Group Inc.		144,500		2,297,656
Japan Metropolitan Fund Invest		2,328		1,897,066
Japan Post Bank Co. Ltd.^(b)		245,700		1,965,516
Japan Post Holdings Co. Ltd.		856,800		6,168,815
Japan Post Insurance Co. Ltd.		50,200		811,626
Japan Real Estate Investment Corp.		361		1,743,255
Japan Tobacco Inc.		342,800		6,155,184
JFE Holdings Inc.		148,400		1,673,187
JSR Corp.		63,100		1,747,740
Kajima Corp.		224,400		2,561,683
Kakaku.com Inc.		47,400		928,407
Kansai Electric Power Co. Inc. (The)		237,500		2,407,948
Kao Corp.		158,700		6,902,560
KDDI Corp.		502,200		16,101,696
Keio Corp.		29,800		1,141,045
Keisei Electric Railway Co. Ltd.		43,200		1,184,407
Keyence Corp.		59,000		23,384,184
Kikkoman Corp.		44,300		2,626,756
Kintetsu Group Holdings Co. Ltd.		50,800		1,678,784
Kirin Holdings Co. Ltd.		248,100		4,080,836
Kobayashi Pharmaceutical Co. Ltd.		18,400		1,225,806
Kobe Bussan Co. Ltd.		45,000		1,282,732
Koei Tecmo Holdings Co. Ltd.		14,000		488,745
Koito Manufacturing Co. Ltd.		31,400		1,032,171
Komatsu Ltd.		263,300		6,087,067
Konami Group Corp.		28,100		1,660,863
Kose Corp.		9,700		865,840
Kubota Corp.		322,000		5,346,275
Kurita Water Industries Ltd.		27,200		1,103,220
Kyocera Corp.		106,300		5,909,096
Kyowa Kirin Co. Ltd.		80,900		1,907,236
Lasertec Corp.		22,700		3,249,960
Lixil Corp.		77,400		1,601,811
M3 Inc.		127,800		4,452,541
Makita Corp.		62,900		1,537,179
Marubeni Corp.		561,900		5,226,943
Mazda Motor Corp.		233,800		1,970,834
McDonald’s Holdings Co. Japan Ltd.		43,200		1,621,531
MEIJI Holdings Co. Ltd.		36,600		1,910,886
MINEBEA MITSUMI Inc.		123,200		2,216,137
MISUMI Group Inc.		98,500		2,450,513
Mitsubishi Chemical Group Corp.		367,800		2,068,333
Mitsubishi Corp.		377,100		11,207,139
Mitsubishi Electric Corp.		550,800		5,813,268
Mitsubishi Estate Co. Ltd.		326,700		4,852,020
Mitsubishi Heavy Industries Ltd.		90,900		3,375,341
Mitsubishi UFJ Financial Group Inc.		3,890,400		21,920,427
Mitsui & Co. Ltd.		446,100		9,841,975
Mitsui Chemicals Inc.		45,000		947,891
Mitsui Fudosan Co. Ltd.		248,500		5,553,829
Mitsui OSK Lines Ltd.		103,500		2,838,063
Mizuho Financial Group Inc.		727,490		8,676,317
MonotaRO Co. Ltd.		86,300		1,540,915
MS&AD Insurance Group Holdings Inc.		134,400		4,358,772
Murata Manufacturing Co. Ltd.		171,900		10,040,799
NEC Corp.		63,900		2,358,832


Security	Shares		Value

Japan (continued)
Nexon Co. Ltd.		146,400	$	3,323,588
NGK Insulators Ltd.		79,500		1,162,785
Nidec Corp.		131,300		9,124,568
Nihon M&A Center Holdings Inc.		113,800		1,522,876
Nintendo Co. Ltd.		34,300		15,338,036
Nippon Building Fund Inc.		505		2,678,897
Nippon Express Holdings Inc.		16,900		1,009,866
Nippon Paint Holdings Co. Ltd.		253,700		1,939,327
Nippon Prologis REIT Inc.		833		2,166,221
Nippon Sanso Holdings Corp.		55,200		930,820
Nippon Shinyaku Co. Ltd.		16,400		1,015,022
Nippon Steel Corp.		254,234		3,783,060
Nippon Telegraph & Telephone Corp.		371,500		10,612,016
Nippon Yusen KK		47,200		3,707,622
Nissan Chemical Corp.		38,200		1,953,285
Nissan Motor Co. Ltd.		697,700		2,653,256
Nisshin Seifun Group Inc.		71,500		880,125
Nissin Foods Holdings Co. Ltd.		25,300		1,832,380
Nitori Holdings Co. Ltd.		24,100		2,549,746
Nitto Denko Corp.		38,300		2,466,339
Nomura Holdings Inc.		975,700		3,722,794
Nomura Real Estate Holdings Inc.		26,300		638,021
Nomura Real Estate Master Fund Inc.		1,365		1,710,059
Nomura Research Institute Ltd.		98,400		2,956,359
NTT Data Corp.		178,300		2,698,570
Obayashi Corp.		341,700		2,513,011
Obic Co. Ltd.		18,800		3,005,549
Odakyu Electric Railway Co. Ltd.		78,200		1,121,577
Oji Holdings Corp.		194,000		808,816
Olympus Corp.		355,800		7,614,887
Omron Corp.		46,800		2,617,430
Ono Pharmaceutical Co. Ltd.		115,700		3,253,357
Open House Group Co. Ltd.		28,800		1,256,406
Oracle Corp. Japan		13,700		854,444
Oriental Land Co. Ltd./Japan		57,800		8,775,699
ORIX Corp.		377,700		6,731,301
Osaka Gas Co. Ltd.		119,600		2,150,180
Otsuka Corp.		30,800		960,519
Otsuka Holdings Co. Ltd.		119,700		4,276,037
Pan Pacific International Holdings Corp.		117,900		1,835,758
Panasonic Holdings Corp.		680,400		5,617,475
Persol Holdings Co. Ltd.		64,000		1,324,914
Rakuten Group Inc.		260,500		1,291,438
Recruit Holdings Co. Ltd.		426,300		15,932,123
Renesas Electronics Corp.^(a)		367,400		3,499,429
Resona Holdings Inc.		669,000		2,599,899
Ricoh Co. Ltd.		195,100		1,569,201
Rohm Co. Ltd.		24,800		1,840,423
SBI Holdings Inc/Japan		75,630		1,534,338
SCSK Corp.		53,300		938,626
Secom Co. Ltd.		56,500		3,773,639
Seiko Epson Corp.		85,400		1,282,936
Sekisui Chemical Co. Ltd.		129,800		1,826,216
Sekisui House Ltd.		157,400		2,787,774
Seven & i Holdings Co. Ltd.		223,700		9,118,058
SG Holdings Co. Ltd.		96,900		1,849,291
Sharp Corp./Japan^(b)		53,700		432,231
Shimadzu Corp.		75,900		2,700,441
Shimano Inc.		20,000		3,340,924
Shimizu Corp.		141,500		802,113


Security	Shares		Value

Japan (continued)
Shin-Etsu Chemical Co. Ltd.		116,600	$	14,935,787
Shionogi & Co. Ltd.		78,700		4,036,637
Shiseido Co. Ltd.		120,100		4,940,099
Shizuoka Bank Ltd. (The)		286,700		1,734,941
SMC Corp.		16,300		8,033,231
SoftBank Corp.		873,600		10,100,783
SoftBank Group Corp.		353,700		14,857,796
Sompo Holdings Inc.		79,400		3,543,718
Sony Group Corp.		379,700		32,209,157
Square Enix Holdings Co. Ltd.		25,100		1,164,635
Subaru Corp.		175,100		3,046,898
SUMCO Corp.		102,000		1,427,257
Sumitomo Chemical Co. Ltd.		423,700		1,665,111
Sumitomo Corp.		363,800		5,115,010
Sumitomo Electric Industries Ltd.		227,600		2,537,464
Sumitomo Metal Mining Co. Ltd.		71,400		2,245,088
Sumitomo Mitsui Financial Group Inc.		374,800		11,758,259
Sumitomo Mitsui Trust Holdings Inc.		102,208		3,357,456
Sumitomo Realty & Development Co. Ltd.		80,300		2,217,329
Suntory Beverage & Food Ltd.		41,700		1,645,375
Suzuki Motor Corp.		112,100		3,674,563
Sysmex Corp.		47,400		3,318,561
T&D Holdings Inc.		179,500		2,031,588
Taisei Corp.		87,500		2,791,845
Takeda Pharmaceutical Co. Ltd.		470,934		13,817,294
TDK Corp.		115,300		3,631,333
Terumo Corp.		198,800		6,787,746
TIS Inc.		79,300		2,248,482
Tobu Railway Co. Ltd.		63,900		1,517,298
Toho Co. Ltd./Tokyo		47,800		1,898,174
Tokio Marine Holdings Inc.		187,600		10,982,089
Tokyo Electric Power Co. Holdings Inc.^(a)		484,200		1,905,503
Tokyo Electron Ltd.		44,100		15,178,931
Tokyo Gas Co. Ltd.		121,800		2,392,263
Tokyu Corp.		146,100		1,791,416
Toppan Inc.		95,700		1,628,379
Toray Industries Inc.		448,400		2,456,038
Toshiba Corp.		117,600		4,770,741
Tosoh Corp.		64,600		842,074
TOTO Ltd.		37,700		1,284,132
Toyota Industries Corp.		35,600		2,167,664
Toyota Motor Corp.		3,239,600		52,582,025
Toyota Tsusho Corp.		56,400		1,924,900
Trend Micro Inc/Japan		39,700		2,307,134
Unicharm Corp.		124,400		4,506,046
USS Co. Ltd.		108,300		2,125,119
Welcia Holdings Co. Ltd.		33,600		750,453
West Japan Railway Co.		57,400		2,108,343
Yakult Honsha Co. Ltd.		40,500		2,466,429
Yamaha Corp.		38,200		1,629,385
Yamaha Motor Co. Ltd.		76,900		1,485,487
Yamato Holdings Co. Ltd.		71,800		1,256,428
Yaskawa Electric Corp.		69,100		2,420,151
Yokogawa Electric Corp.		75,900		1,345,955
Z Holdings Corp.		761,100		2,689,909
ZOZO Inc.		39,200		846,786


				975,582,233

Kuwait — 0.1%
Agility Public Warehousing Co. KSC		651,867		1,903,044
Boubyan Bank KSCP		1,402,540		3,788,299


Security	Shares		Value

Kuwait (continued)
Kuwait Finance House KSCP		1,583,005	$	4,597,887
Mabanee Co. KPSC		358,036		956,582
Mobile Telecommunications Co. KSCP		1,483,686		2,939,421
National Bank of Kuwait SAKP		1,572,256		5,490,674


				19,675,907

Malaysia — 0.2%
Axiata Group Bhd		352,300		227,191
CIMB Group Holdings Bhd		1,986,200		2,326,962
Dialog Group Bhd		1,924,500		956,795
DiGi.Com Bhd^(b)		1,991,600		1,626,409
Genting Bhd		1,355,500		1,442,906
Genting Malaysia Bhd		423,900		278,702
Hartalega Holdings Bhd^(b)		480,900		296,072
Hong Leong Bank Bhd		300,100		1,416,020
Hong Leong Financial Group Bhd		450,800		1,975,427
IHH Healthcare Bhd		1,496,400		2,151,635
Kuala Lumpur Kepong Bhd		81,700		402,396
Malayan Banking Bhd		811,700		1,616,675
Malaysia Airports Holdings Bhd^(a)		557,100		782,691
Maxis Bhd^(b)		1,360,000		1,122,527
MISC Bhd		423,300		686,477
Petronas Chemicals Group Bhd		600,100		1,198,787
Petronas Gas Bhd		524,300		2,020,666
PPB Group Bhd		183,900		672,709
Press Metal Aluminium Holdings Bhd		1,669,800		1,827,389
Public Bank Bhd		3,739,150		3,901,074
Sime Darby Plantation Bhd		332,500		325,824
Telekom Malaysia Bhd		462,400		590,995
Tenaga Nasional Bhd		750,800		1,393,463
Top Glove Corp. Bhd^(a)		1,424,100		309,106


				29,548,898

Mexico — 0.2%
America Movil SAB de CV, Series L, NVS		9,714,400		9,244,775
Cemex SAB de CV, NVS^(a)		5,820,954		2,350,026
Coca-Cola Femsa SAB de CV		43,900		265,784
Fibra Uno Administracion SA de CV		606,100		618,721
Fomento Economico Mexicano SAB de CV		662,000		4,125,180
Gruma SAB de CV, Class B^(b)		42,590		529,599
Grupo Aeroportuario del Pacifico SAB de CV, Class B		89,300		1,210,788
Grupo Aeroportuario del Sureste SAB de CV, Class B		45,435		855,855
Grupo Bimbo SAB de CV, Series A^(b)		348,300		1,230,852
Grupo Carso SAB de CV, Series A1		55,500		216,468
Grupo Financiero Banorte SAB de CV, Class O		860,700		4,897,235
Grupo Financiero Inbursa SAB de CV, Class O^(a)		447,000		823,153
Grupo Mexico SAB de CV, Series B		1,150,228		4,547,761
Grupo Televisa SAB, CPO^(b)		902,800		1,423,364
Industrias Penoles SAB de CV		32,305		324,991
Kimberly-Clark de Mexico SAB de CV, Class A		259,300		381,849
Orbia Advance Corp. SAB de CV		692,423		1,527,132
Wal-Mart de Mexico SAB de CV		1,684,300		6,100,842


				40,674,375

Netherlands — 1.2%
ABN AMRO Bank NV, CVA^(c)		106,174		1,082,751
Adyen NV^(a)(c)		6,147		11,057,050
Aegon NV		625,337		2,746,608
AerCap Holdings NV^(a)(b)		32,803		1,471,543
Akzo Nobel NV		64,024		4,308,846
Argenx SE^(a)		14,657		5,354,223
ASM International NV		14,140		4,343,407


Security	Shares		Value

Netherlands (continued)
ASML Holding NV		124,533	$	71,576,323
Davide Campari-Milano NV		263,856		2,929,292
Euronext NV^(c)		16,841		1,372,180
EXOR NV		19,468		1,369,232
Heineken Holding NV		14,162		1,119,064
Heineken NV		81,034		7,988,883
IMCD NV		15,620		2,501,525
ING Groep NV		1,175,201		11,415,696
Just Eat Takeaway.com NV^(a)(c)		52,958		970,681
Koninklijke Ahold Delhaize NV		325,774		8,971,400
Koninklijke DSM NV		57,880		9,269,427
Koninklijke KPN NV		1,121,725		3,700,560
Koninklijke Philips NV		273,968		5,670,110
NN Group NV		89,606		4,204,528
NXP Semiconductors NV		83,459		15,346,441
OCI NV		25,474		884,372
Prosus NV, Class N		261,996		17,091,306
Randstad NV		21,540		1,088,696
Universal Music Group NV		233,861		5,293,794
Wolters Kluwer NV		87,810		9,536,364


				212,664,302

New Zealand — 0.1%
Auckland International Airport Ltd.^(a)		586,164		2,752,447
Fisher & Paykel Healthcare Corp. Ltd.		203,546		2,721,944
Meridian Energy Ltd.		316,447		993,088
Spark New Zealand Ltd.		261,830		841,934
Xero Ltd.^(a)		42,194		2,779,685


				10,089,098

Norway — 0.2%
Adevinta ASA^(a)		79,094		601,459
Aker BP ASA		98,215		3,412,612
DNB Bank ASA		297,533		5,869,067
Equinor ASA		319,905		12,317,585
Gjensidige Forsikring ASA		33,914		709,337
Kongsberg Gruppen ASA		29,882		1,101,114
Mowi ASA		107,419		2,478,703
Norsk Hydro ASA		340,750		2,308,660
Orkla ASA		278,767		2,406,392
Salmar ASA		11,118		796,368
Telenor ASA		242,555		2,945,624
Yara International ASA		66,934		2,852,549


				37,799,470

Peru — 0.0%
Cia. de Minas Buenaventura SAA, ADR		88,493		481,402
Credicorp Ltd.		20,062		2,596,023
Southern Copper Corp.		22,859		1,138,378


				4,215,803

Philippines — 0.1%
Aboitiz Equity Ventures Inc.		1,011,360		1,046,575
ACEN Corp.		155,550		23,654
Ayala Corp.		51,850		583,954
Ayala Land Inc.		2,966,100		1,361,248
Bank of the Philippine Islands		866,444		1,462,468
BDO Unibank Inc.		1,106,975		2,402,914
GT Capital Holdings Inc.		7,390		60,832
JG Summit Holdings Inc.		576,359		538,386
Jollibee Foods Corp.		306,370		1,118,640
Metropolitan Bank & Trust Co.		620,320		547,166
PLDT Inc.		16,515		498,347


Security	Shares		Value

Philippines (continued)
SM Investments Corp.		70,920	$	998,644
SM Prime Holdings Inc.		4,888,125		3,248,523


				13,891,351

Poland — 0.1%
Allegro.eu SA ^(a)(c)		88,756		482,736
Bank Polska Kasa Opieki SA		72,005		1,140,423
CD Projekt SA		16,970		333,718
Cyfrowy Polsat SA		247,771		1,067,957
Dino Polska SA^(a)(c)		10,406		813,642
KGHM Polska Miedz SA		64,069		1,606,064
LPP SA		271		580,605
Orange Polska SA		48,756		63,269
Polski Koncern Naftowy ORLEN SA		91,082		1,487,818
Polskie Gornictwo Naftowe i Gazownictwo SA^(a)		404,172		603,954
Powszechna Kasa Oszczednosci Bank Polski SA^(a)		343,056		1,941,522
Powszechny Zaklad Ubezpieczen SA		117,028		766,629


				10,888,337

Portugal — 0.0%
EDP - Energias de Portugal SA		1,103,831		5,584,174
Galp Energia SGPS SA		131,096		1,383,794
Jeronimo Martins SGPS SA		98,965		2,290,737


				9,258,705

Qatar — 0.1%
Industries Qatar QSC		354,590		1,651,613
Masraf Al Rayan QSC		4,019,792		4,814,193
Mesaieed Petrochemical Holding Co.		1,233,545		917,614
Ooredoo QPSC		726,047		1,842,623
Qatar Islamic Bank SAQ		261,032		1,823,108
Qatar National Bank QPSC		1,323,402		7,251,795


				18,300,946

Russia — 0.0%
Alrosa PJSC^(d)		472,000		76
Gazprom PJSC^(a)(d)		3,457,370		554
Inter RAO UES PJSC^(d)		11,798,500		1,891
LUKOIL PJSC^(a)(d)		127,513		20
Magnit PJSC^(d)		16,753		3
Magnit PJSC, GDR^(d)		3		—
MMC Norilsk Nickel PJSC^(d)		19,665		3
Mobile TeleSystems PJSC^(d)		482,206		77
Moscow Exchange MICEX-Rates PJSC^(a)(d)		490,370		79
Novatek PJSC, GDR^(d)		29,074		291
Novolipetsk Steel PJSC^(d)		316,690		51
PhosAgro PJSC^(a)(d)		511		5
PhosAgro PJSC, GDR^(d)		79,410		794
Polymetal International PLC^(d)		71,803		11
Polyus PJSC^(d)		9,781		2
Rosneft Oil Co. PJSC^(d)		352,530		56
Sberbank of Russia PJSC^(a)(d)		2,557,600		410
Severstal PAO^(a)(d)		47,814		8
Surgutneftegas PJSC^(d)		2,443,710		392
Tatneft PJSC^(d)		397,511		64
TCS Group Holding PLC, GDR^(a)(d)		35,279		6
X5 Retail Group NV, GDR^(d)		24,002		4
Yandex NV^(a)(d)		90,278		14


				4,811

Saudi Arabia — 0.5%
ACWA Power Co.		15,722		735,161
Al Rajhi Bank		574,485		13,842,287
Alinma Bank		652,991		6,661,992


Security	Shares		Value

Saudi Arabia (continued)
Almarai Co. JSC		135,991	$	1,896,903
Arab National Bank		106,001		876,680
Bank AlBilad^(a)		103,488		1,370,663
Bank Al-Jazira		492,861		3,472,719
Banque Saudi Fransi		279,392		3,829,895
Bupa Arabia for Cooperative Insurance Co.		9,434		405,110
Dar Al Arkan Real Estate Development Co.^(a)		104,934		354,404
Dr Sulaiman Al Habib Medical Services Group Co.		16,228		890,386
Etihad Etisalat Co.		113,443		1,145,447
Rabigh Refining & Petrochemical Co.^(a)		98,036		487,032
Riyad Bank		606,342		5,904,221
SABIC Agri-Nutrients Co.		85,273		3,043,040
Sahara International Petrochemical Co.		107,561		1,372,800
Saudi Arabian Mining Co.^(a)		224,342		3,411,329
Saudi Arabian Oil Co.^(c)		546,992		5,845,932
Saudi Basic Industries Corp.		200,874		5,351,953
Saudi British Bank (The)		188,255		2,119,320
Saudi Electricity Co.		541,637		3,584,471
Saudi Industrial Investment Group		37,190		277,636
Saudi Investment Bank (The)		79,397		445,062
Saudi Kayan Petrochemical Co.^(a)		167,831		682,175
Saudi National Bank (The)		742,247		13,933,267
Saudi Research & Media Group^(a)		7,570		391,544
Saudi Telecom Co.		182,576		4,909,212
Savola Group (The)		56,665		504,070
Yanbu National Petrochemical Co.		23,046		306,425


				88,051,136

Singapore — 0.3%
Ascendas Real Estate Investment Trust		1,628,179		3,504,588
BOC Aviation Ltd.^(b)(c)		70,100		596,594
CapitaLand Integrated Commercial Trust		2,426,932		3,833,873
Capitaland Investment Ltd/Singapore		1,601,600		4,557,077
City Developments Ltd.		111,500		626,433
DBS Group Holdings Ltd.		474,400		10,825,024
Genting Singapore Ltd.		3,084,000		1,801,173
Grab Holdings Ltd., Class A^(a)(b)		316,845		934,693
Keppel Corp. Ltd.		675,100		3,372,923
Mapletree Commercial Trust		546,400		752,651
Mapletree Logistics Trust^(b)		686,945		876,743
Oversea-Chinese Banking Corp. Ltd.^(b)		789,900		6,694,163
Sea Ltd., ADR^(a)(b)		110,120		8,404,358
Singapore Airlines Ltd.^(a)		376,400		1,489,095
Singapore Exchange Ltd.		64,300		460,940
Singapore Technologies Engineering Ltd.		490,300		1,429,597
Singapore Telecommunications Ltd.		2,198,200		4,156,956
United Overseas Bank Ltd.		271,400		5,414,792
UOL Group Ltd.		86,200		465,728
Venture Corp. Ltd.		95,900		1,221,787
Wilmar International Ltd.		425,000		1,238,410


				62,657,598

South Africa — 0.4%
Absa Group Ltd.		144,895		1,484,810
Anglo American Platinum Ltd.		13,615		1,044,414
AngloGold Ashanti Ltd.		109,059		1,607,435
Aspen Pharmacare Holdings Ltd.		105,329		923,127
Bid Corp. Ltd.		149,815		2,758,327
Bidvest Group Ltd. (The)		85,142		1,095,166
Capitec Bank Holdings Ltd.		28,684		3,447,121
Clicks Group Ltd.		54,661		920,258


Security	Shares		Value

South Africa (continued)
Discovery Ltd.^(a)		94,243	$	728,266
Exxaro Resources Ltd.		51,288		623,417
FirstRand Ltd.		1,275,926		5,047,273
Foschini Group Ltd. (The)		60,120		438,927
Gold Fields Ltd.		320,679		2,965,929
Growthpoint Properties Ltd.		2,113,461		1,723,068
Harmony Gold Mining Co. Ltd.		156,764		500,771
Impala Platinum Holdings Ltd.		267,050		2,960,920
Kumba Iron Ore Ltd.		15,618		465,427
Mr. Price Group Ltd.		128,846		1,402,881
MTN Group Ltd.		561,947		4,716,300
MultiChoice Group		178,428		1,277,768
Naspers Ltd., Class N		70,223		9,921,556
Nedbank Group Ltd.		183,232		2,395,163
NEPI Rockcastle S.A.		95,819		528,560
Northam Platinum Holdings Ltd.^(a)		128,645		1,365,557
Old Mutual Ltd.		1,747,871		1,192,199
Reinet Investments SCA		31,273		543,740
Remgro Ltd.		71,193		586,245
Sanlam Ltd.		1,007,755		3,309,631
Sasol Ltd.^(a)		188,914		3,968,473
Shoprite Holdings Ltd.		121,530		1,644,300
Sibanye Stillwater Ltd.		742,528		1,824,049
Standard Bank Group Ltd.		413,822		3,986,824
Vodacom Group Ltd.		119,982		996,883
Woolworths Holdings Ltd.		458,074		1,461,018


				69,855,803

South Korea — 1.2%
Alteogen Inc.^(a)		10,281		518,426
Amorepacific Corp.^(b)		12,062		1,200,404
AMOREPACIFIC Group		14,069		400,353
BGF retail Co. Ltd.		4,415		615,066
Celltrion Healthcare Co. Ltd.		24,815		1,385,731
Celltrion Inc.		31,715		4,643,249
CJ CheilJedang Corp.		4,400		1,326,222
CJ Corp.		14,904		915,830
CJ ENM Co. Ltd.		6,492		509,231
CJ Logistics Corp.^(a)		999		89,657
Coway Co. Ltd.		22,879		1,128,652
DB Insurance Co. Ltd.		8,850		411,881
Doosan Enerbility Co. Ltd.		122,812		1,781,750
Ecopro BM Co. Ltd.^(b)		15,620		1,444,423
GS Engineering & Construction Corp.		42,853		985,162
Hana Financial Group Inc.		115,041		3,296,671
Hankook Tire & Technology Co. Ltd.		37,144		995,668
Hanmi Pharm Co. Ltd.		2,917		695,200
Hanwha Solutions Corp.^(a)		36,598		1,236,476
HD Hyundai Co. Ltd.		28,857		1,265,363
HLB Inc.^(a)(b)		38,047		1,233,634
HMM Co. Ltd.^(b)		88,654		1,702,189
Hotel Shilla Co. Ltd.^(b)		7,699		426,439
HYBE Co. Ltd.^(a)		5,448		739,795
Hyundai Engineering & Construction Co. Ltd.		16,025		521,075
Hyundai Glovis Co. Ltd.		8,748		1,227,804
Hyundai Heavy Industries Co. Ltd.^(a)		5,356		518,327
Hyundai Mobis Co. Ltd.		21,166		3,725,366
Hyundai Motor Co.		52,366		7,918,428
Hyundai Steel Co.		43,200		1,136,337
Iljin Materials Co. Ltd.		7,313		415,651
Kakao Corp.		89,398		5,162,402


Security	Shares		Value

South Korea (continued)
Kakao Games Corp.^(a)		11,437	$	448,330
KakaoBank Corp.^(a)		30,926		737,617
Kangwon Land Inc.^(a)		26,358		526,864
KB Financial Group Inc.		117,656		4,375,854
Kia Corp.		82,558		5,168,740
Korea Aerospace Industries Ltd.		29,765		1,309,046
Korea Electric Power Corp.^(a)		86,689		1,493,036
Korea Shipbuilding & Offshore Engineering Co. Ltd.^(a)		16,496		1,077,975
Korea Zinc Co. Ltd.		4,022		1,478,626
Korean Air Lines Co. Ltd.^(a)		42,054		821,700
Krafton Inc.^(a)		7,203		1,299,900
KT&G Corp.		38,351		2,417,226
Kumho Petrochemical Co. Ltd.		5,917		591,074
L&F Co. Ltd.^(a)		8,238		1,457,758
LG Chem Ltd.		15,153		7,057,578
LG Corp.		32,404		2,022,519
LG Display Co. Ltd.		97,383		1,151,292
LG Electronics Inc.		36,787		2,683,329
LG Energy Solution^(a)(b)		6,396		2,085,628
LG H&H Co. Ltd.		3,342		2,008,640
LG Innotek Co. Ltd.		4,287		1,201,987
LG Uplus Corp.		37,092		357,422
Lotte Chemical Corp.		6,931		943,013
Lotte Shopping Co. Ltd.		4,367		321,275
Mirae Asset Securities Co. Ltd.^(b)		278,546		1,415,533
NAVER Corp.		39,068		7,815,212
NCSoft Corp.		5,338		1,533,550
Netmarble Corp.^(c)		7,710		428,787
Orion Corp./Republic of Korea		12,966		1,003,780
Pearl Abyss Corp.^(a)		9,872		406,706
POSCO Chemical Co. Ltd.		7,381		749,108
POSCO Holdings Inc.		22,213		4,148,452
Samsung Biologics Co. Ltd.^(a)(c)		6,126		4,080,324
Samsung C&T Corp.		31,208		2,897,154
Samsung Electro-Mechanics Co. Ltd.		11,547		1,271,548
Samsung Electronics Co. Ltd.		1,446,470		68,468,862
Samsung Engineering Co. Ltd.^(a)		41,262		624,560
Samsung Fire & Marine Insurance Co. Ltd.		13,951		2,119,463
Samsung Heavy Industries Co. Ltd.^(a)		155,162		672,660
Samsung SDI Co. Ltd.		17,819		7,832,333
Samsung SDS Co. Ltd.		7,375		773,545
Seegene Inc.^(b)		10,303		316,008
Shinhan Financial Group Co. Ltd.		122,204		3,365,401
SK Biopharmaceuticals Co. Ltd.^(a)		8,590		516,438
SK Bioscience Co. Ltd.^(a)		7,601		715,431
SK Chemicals Co. Ltd.^(b)		3,504		284,071
SK Hynix Inc.		171,771		12,985,337
SK IE Technology Co. Ltd.^(a)(c)		7,253		459,147
SK Inc.		11,120		1,886,191
SK Innovation Co. Ltd.^(a)		17,371		2,516,593
SK Square Co. Ltd.^(a)		24,144		795,011
SK Telecom Co. Ltd.		21,917		904,633
SKC Co. Ltd.		7,357		773,281
S-Oil Corp.		11,194		797,856
Woori Financial Group Inc.		114,669		1,052,281


				226,218,547

Spain — 0.6%
Acciona SA		4,498		925,556
ACS Actividades de Construccion y Servicios SA		84,204		2,024,067
Aena SME SA^(a)(c)		16,895		2,137,042


Security	Shares		Value

Spain (continued)
Amadeus IT Group SA^(a)		138,977	$	8,103,777
Banco Bilbao Vizcaya Argentaria SA		1,943,163		8,805,772
Banco Santander SA		5,062,651		12,666,096
CaixaBank SA		1,302,855		3,912,127
Cellnex Telecom SA^(c)		139,377		6,234,205
EDP Renovaveis SA		75,569		1,965,495
Enagas SA		14,013		276,598
Endesa SA		102,079		1,871,049
Ferrovial SA		188,888		5,058,066
Grifols SA^(b)		104,923		1,530,997
Iberdrola SA		1,799,799		19,219,106
Iberdrola SA, NVS		49,994		532,939
Industria de Diseno Textil SA		329,187		7,994,950
Naturgy Energy Group SA		58,919		1,728,217
Red Electrica Corp. SA		116,669		2,293,757
Repsol SA		507,139		6,318,067
Siemens Gamesa Renewable Energy SA^(a)		63,947		1,176,577
Telefonica SA		1,641,877		7,328,831


				102,103,291

Sweden — 0.8%
Alfa Laval AB		82,448		2,465,344
Assa Abloy AB, Class B		310,675		7,340,014
Atlas Copco AB, Class A		907,854		10,612,232
Atlas Copco AB, Class B		438,145		4,551,314
Boliden AB		100,150		3,346,900
Electrolux AB, Class B		99,644		1,437,247
Embracer Group AB^(a)(b)		193,248		1,472,651
Epiroc AB, Class A		342,713		6,059,743
EQT AB		93,656		2,542,132
Essity AB, Class B		185,678		4,726,448
Evolution AB^(c)		54,714		5,308,942
Fastighets AB Balder, Class B^(a)		165,945		1,060,069
Getinge AB, Class B		72,994		1,647,177
H & M Hennes & Mauritz AB, Class B		232,509		2,974,845
Hexagon AB, Class B		674,471		7,941,587
Holmen AB, Class B		19,281		792,293
Husqvarna AB, Class B		103,301		823,281
Industrivarden AB, Class A		19,377		505,585
Industrivarden AB, Class C		43,052		1,110,752
Indutrade AB		63,110		1,483,309
Investment AB Latour, Class B		39,962		994,308
Investor AB, Class B		650,551		12,140,400
Kinnevik AB, Class B^(a)		74,814		1,347,540
L E Lundbergforetagen AB, Class B		16,662		790,770
Lifco AB, Class B		67,452		1,313,020
Nibe Industrier AB, Class B		450,289		4,536,259
Sagax AB, Class B		53,178		1,370,508
Sandvik AB		361,056		6,652,883
Securitas AB, Class B		36,543		369,534
Sinch AB^(a)(b)(c)		189,285		479,910
Skandinaviska Enskilda Banken AB, Class A		492,873		5,339,504
Skanska AB, Class B		70,581		1,204,108
SKF AB, Class B		147,186		2,477,058
Svenska Cellulosa AB SCA, Class B		175,757		2,569,493
Svenska Handelsbanken AB, Class A		344,780		3,100,231
Swedbank AB, Class A		276,194		3,825,330
Swedish Match AB		470,334		4,923,701
Swedish Orphan Biovitrum AB^(a)		46,628		1,023,997
Tele2 AB, Class B		129,607		1,480,583
Telefonaktiebolaget LM Ericsson, Class B		908,775		6,912,364


Security	Shares		Value

Sweden (continued)
Telia Co. AB		839,972	$	3,103,148
Volvo AB, Class B		457,443		8,212,942
Volvo Car AB, Class B^(a)(b)		164,462		1,224,547


				143,594,003

Switzerland — 2.7%
ABB Ltd., Registered		532,193		16,178,454
Adecco Group AG, Registered		53,866		1,897,538
Alcon Inc.		156,962		12,353,550
Bachem Holding AG, Class A		9,812		661,657
Baloise Holding AG, Registered		8,110		1,292,159
Barry Callebaut AG, Registered		707		1,566,473
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS		372		4,113,822
Chocoladefabriken Lindt & Spruengli AG, Registered		12		1,383,865
Cie. Financiere Richemont SA, Class A, Registered		163,151		19,672,340
Clariant AG, Registered		42,921		804,148
Coca-Cola HBC AG, Class DI		75,742		1,864,132
Credit Suisse Group AG, Registered		689,774		4,012,116
EMS-Chemie Holding AG, Registered		1,756		1,394,413
Geberit AG, Registered		12,506		6,586,618
Givaudan SA, Registered		2,594		9,067,474
Holcim AG		154,134		7,227,134
Julius Baer Group Ltd.		84,646		4,377,048
Kuehne + Nagel International AG, Registered		17,806		4,795,536
Logitech International SA, Registered		52,347		2,945,155
Lonza Group AG, Registered		24,169		14,688,742
Nestle SA, Registered		855,354		104,804,192
Novartis AG, Registered		669,855		57,560,392
Partners Group Holding AG		6,675		7,287,404
Roche Holding AG, Bearer		8,072		3,290,669
Roche Holding AG, NVS		216,310		71,815,897
Schindler Holding AG, Participation Certificates, NVS		11,640		2,275,141
Schindler Holding AG, Registered		10,799		2,050,587
SGS SA, Registered		1,594		3,890,105
Siemens Energy AG^(a)		123,204		2,047,341
Sika AG, Registered		45,211		11,171,071
Sonova Holding AG, Registered		18,087		6,514,608
STMicroelectronics NV		214,355		8,111,949
Straumann Holding AG		29,430		3,980,422
Swatch Group AG (The), Bearer		11,982		3,189,810
Swiss Life Holding AG, Registered		6,963		3,688,554
Swiss Prime Site AG, Registered		32,326		2,943,721
Swiss Re AG		91,234		6,845,907
Swisscom AG, Registered		8,600		4,649,481
TE Connectivity Ltd.		101,593		13,586,032
Temenos AG, Registered		24,230		1,923,196
UBS Group AG, Registered		1,111,625		18,164,311
VAT Group AG^(c)		7,832		2,280,454
Vifor Pharma AG ^(a)		15,750		2,751,720
Zurich Insurance Group AG		46,825		20,440,439


				482,145,777

Taiwan — 1.6%
Accton Technology Corp.		180,000		1,502,257
Acer Inc.		1,635,000		1,240,520
Advantech Co. Ltd.		144,388		1,661,079
Airtac International Group		48,393		1,326,536
ASE Technology Holding Co. Ltd.		1,090,873		3,178,849
Asia Cement Corp.		372,000		516,190
ASMedia Technology Inc.		11,000		360,697


Security	Shares		Value

Taiwan (continued)
Asustek Computer Inc.		206,000	$	1,943,328
AUO Corp.		2,556,000		1,147,745
Catcher Technology Co. Ltd.		155,000		885,271
Cathay Financial Holding Co. Ltd.		2,795,357		4,264,474
Chailease Holding Co. Ltd.		431,326		3,067,489
Chang Hwa Commercial Bank Ltd.		4,089,319		2,434,927
China Airlines Ltd.		815,000		622,756
China Development Financial Holding Corp.		5,209,000		2,254,928
China Steel Corp.		3,315,305		3,086,769
Chunghwa Telecom Co. Ltd.		1,128,140		4,577,563
CTBC Financial Holding Co. Ltd.		5,580,142		4,287,054
Delta Electronics Inc.		514,000		4,470,319
E Ink Holdings Inc.		313,000		2,059,160
E.Sun Financial Holding Co. Ltd.		4,949,126		4,562,044
Eclat Textile Co. Ltd.		65,000		888,715
eMemory Technology Inc.		21,000		834,803
Eva Airways Corp.^(a)		729,000		836,457
Evergreen Marine Corp. Taiwan Ltd.		755,000		2,426,101
Far EasTone Telecommunications Co. Ltd.		796,000		2,006,933
Feng TAY Enterprise Co. Ltd.		112,800		631,919
First Financial Holding Co. Ltd.		3,157,018		2,851,681
Formosa Chemicals & Fibre Corp.		1,042,000		2,442,777
Formosa Plastics Corp.		1,273,160		3,926,846
Fubon Financial Holding Co. Ltd.		2,228,971		4,186,926
Giant Manufacturing Co. Ltd.		98,000		801,815
Globalwafers Co. Ltd.		71,000		1,075,531
Hon Hai Precision Industry Co. Ltd.		3,670,000		13,412,916
Hotai Motor Co. Ltd.		95,000		1,924,029
Hua Nan Financial Holdings Co. Ltd.		2,557,445		1,978,480
Innolux Corp.		2,971,000		1,028,950
Largan Precision Co. Ltd.		27,000		1,893,853
Lite-On Technology Corp.		680,000		1,492,051
MediaTek Inc.		450,000		10,368,035
Mega Financial Holding Co. Ltd.		3,068,287		3,634,733
Micro-Star International Co. Ltd.		269,000		1,064,944
momo.com Inc.		21,600		592,080
Nan Ya Plastics Corp.		2,029,830		4,574,453
Nan Ya Printed Circuit Board Corp.		86,000		696,751
Nanya Technology Corp.		331,000		581,514
Novatek Microelectronics Corp.		175,000		1,559,039
Parade Technologies Ltd.		25,000		941,459
Pegatron Corp.		450,000		936,804
Powerchip Semiconductor Manufacturing Corp.		873,000		1,034,810
President Chain Store Corp.		135,000		1,276,478
Quanta Computer Inc.		759,000		2,154,752
Realtek Semiconductor Corp.		153,000		1,759,460
Ruentex Development Co. Ltd.		436,000		801,064
Shanghai Commercial & Savings Bank Ltd. (The)		1,062,000		1,782,792
Silergy Corp.		100,000		1,871,437
SinoPac Financial Holdings Co. Ltd.		4,400,842		2,492,551
Taishin Financial Holding Co. Ltd.		5,236,225		2,756,358
Taiwan Cement Corp.		1,476,227		1,915,654
Taiwan Cooperative Financial Holding Co. Ltd.		3,375,561		3,094,836
Taiwan High Speed Rail Corp.		545,000		532,629
Taiwan Mobile Co. Ltd.		596,000		2,022,517
Taiwan Semiconductor Manufacturing Co. Ltd.		7,450,000		127,764,260
Unimicron Technology Corp.		388,000		2,069,862
Uni-President Enterprises Corp.		1,591,600		3,746,839
United Microelectronics Corp.		3,554,000		4,781,050
Vanguard International Semiconductor Corp.		314,000		756,281


Security	Shares		Value

Taiwan (continued)
Voltronic Power Technology Corp.		21,000	$	1,031,462
Walsin Lihwa Corp.		800,000		910,108
Wan Hai Lines Ltd.		234,600		842,970
Win Semiconductors Corp.		108,000		573,706
Winbond Electronics Corp.		1,113,000		866,494
Wiwynn Corp.		33,000		816,305
Yageo Corp.		133,000		1,535,625
Yang Ming Marine Transport Corp.		525,000		1,583,288
Yuanta Financial Holding Co. Ltd.		2,787,840		1,868,684
Zhen Ding Technology Holding Ltd.		198,000		749,955


				292,432,777

Thailand — 0.2%
Advanced Info Service PCL, NVDR		375,700		2,065,083
Airports of Thailand PCL, NVDR^(a)		1,334,400		2,571,110
B Grimm Power PCL, NVDR^(b)		416,300		432,556
Bangkok Dusit Medical Services PCL, NVDR		4,766,200		3,485,718
Bangkok Expressway & Metro PCL, NVDR		5,849,400		1,389,584
BTS Group Holdings PCL, NVDR^(b)		3,170,400		746,920
Central Pattana PCL, NVDR^(b)		1,209,300		2,106,414
Charoen Pokphand Foods PCL, NVDR		2,876,000		1,976,716
CP ALL PCL, NVDR		1,670,100		2,794,306
Delta Electronics Thailand PCL, NVDR		111,400		1,445,859
Electricity Generating PCL, NVDR		123,300		621,687
Energy Absolute PCL, NVDR^(b)		724,300		1,609,144
Global Power Synergy PCL, NVDR^(b)		327,200		606,951
Gulf Energy Development PCL, NVDR		1,171,256		1,517,395
Indorama Ventures PCL, NVDR		971,033		1,162,299
Intouch Holdings PCL, NVDR		821,200		1,577,568
Muangthai Capital PCL, NVDR		335,900		448,271
Osotspa PCL, NVDR		233,100		199,058
PTT Exploration & Production PCL, NVDR		437,100		1,965,221
PTT Global Chemical PCL, NVDR		696,200		845,488
PTT Public Company Ltd., NVDR		2,715,300		2,587,541
Ratch Group PCL, NVDR		686,800		715,485
Siam Cement PCL (The), NVDR		224,700		2,286,397
Srisawad Corp. PCL, NVDR^(b)		332,800		457,800
True Corp. PCL, NVDR		4,442,800		576,368


				36,190,939

Turkey — 0.0%
Akbank TAS		942,208		453,842
Aselsan Elektronik Sanayi Ve Ticaret AS		469,404		582,249
BIM Birlesik Magazalar AS		223,724		1,150,056
Eregli Demir ve Celik Fabrikalari TAS		482,847		747,940
Turkcell Iletisim Hizmetleri AS		293,044		278,436
Turkiye Petrol Rafinerileri AS^(a)		64,054		959,484
Turkiye Sise ve Cam Fabrikalari AS		781,702		952,013


				5,124,020

United Arab Emirates — 0.1%
Abu Dhabi Commercial Bank PJSC		1,593,589		3,960,962
Abu Dhabi National Oil Co. for Distribution PJSC		746,802		870,837
Aldar Properties PJSC		2,083,804		2,783,787
Emaar Properties PJSC		1,790,840		2,687,500
Emirates NBD Bank PJSC		775,634		2,919,176
Emirates Telecommunications Group Co. PJSC		958,385		7,279,666
First Abu Dhabi Bank PJSC		1,218,773		6,450,351


				26,952,279

United Kingdom — 3.7%
3i Group PLC		348,060		5,408,068
abrdn PLC		778,001		1,577,337


Security	Shares		Value

United Kingdom (continued)
Admiral Group PLC		56,282	$	1,315,399
Amcor PLC		492,649		6,379,805
Anglo American PLC		339,299		12,263,911
Antofagasta PLC		149,056		2,120,870
Ashtead Group PLC		149,631		8,422,685
Associated British Foods PLC		110,419		2,255,348
AstraZeneca PLC		472,071		62,096,789
Auto Trader Group PLC^(c)		327,280		2,523,170
AVEVA Group PLC		42,394		1,226,480
Aviva PLC		730,118		3,535,833
BAE Systems PLC		1,021,910		9,604,664
Barclays PLC		4,856,878		9,303,654
Barratt Developments PLC		327,241		2,006,542
Berkeley Group Holdings PLC		49,365		2,558,265
BP PLC		6,121,690		29,961,140
British American Tobacco PLC		653,601		25,610,461
British Land Co. PLC (The)		353,765		2,127,096
BT Group PLC		2,268,421		4,478,595
Bunzl PLC		86,806		3,257,886
Burberry Group PLC		139,810		3,073,521
Clarivate PLC^(a)(b)		108,799		1,576,498
CNH Industrial NV		358,880		4,623,328
Coca-Cola Europacific Partners PLC		67,799		3,669,282
Compass Group PLC		504,297		11,818,923
Croda International PLC		31,179		2,851,319
DCC PLC		28,526		1,862,443
Diageo PLC		687,823		32,583,452
Entain PLC^(a)		189,850		2,793,653
Experian PLC		295,670		10,352,073
Ferguson PLC		73,195		9,207,835
GSK PLC		1,190,640		25,015,588
Haleon PLC^(a)		1,488,301		5,288,737
Halma PLC		80,851		2,276,997
Hargreaves Lansdown PLC		93,715		970,209
Hikma Pharmaceuticals PLC		40,602		858,204
HSBC Holdings PLC		6,179,435		38,707,715
Imperial Brands PLC		289,692		6,360,573
Informa PLC^(a)		350,503		2,549,083
InterContinental Hotels Group PLC		32,764		1,942,089
Intertek Group PLC		56,439		3,016,394
J Sainsbury PLC		688,996		1,858,615
JD Sports Fashion PLC		706,810		1,122,670
Johnson Matthey PLC		64,715		1,691,940
Kingfisher PLC		723,258		2,288,295
Land Securities Group PLC		268,409		2,398,511
Legal & General Group PLC		1,917,274		6,122,847
Lloyds Banking Group PLC		21,325,081		11,806,804
London Stock Exchange Group PLC		102,180		9,972,020
M&G PLC		685,998		1,788,192
Melrose Industries PLC		1,443,250		2,840,978
Mondi PLC		93,361		1,771,732
National Grid PLC		1,012,169		13,937,156
NatWest Group PLC		1,499,745		4,555,110
Next PLC		45,506		3,788,456
NMC Health PLC, NVS^(d)		19,275		—
Ocado Group PLC^(a)(b)		148,814		1,529,846
Pearson PLC		249,942		2,313,276
Persimmon PLC		102,387		2,361,680
Prudential PLC		789,107		9,733,150
Reckitt Benckiser Group PLC		213,943		17,353,929


Security	Shares		Value

United Kingdom (continued)
RELX PLC		607,447	$	17,986,166
Rentokil Initial PLC		508,983		3,360,794
Rolls-Royce Holdings PLC^(a)		2,564,500		2,802,842
Royalty Pharma PLC, Class A		96,468		4,195,393
Sage Group PLC (The)		237,418		2,046,095
Schroders PLC		23,503		852,494
Segro PLC		300,318		4,017,648
Severn Trent PLC		103,148		3,708,359
Shell PLC		2,347,895		62,633,181
Smith & Nephew PLC		286,396		3,671,927
Smiths Group PLC		100,750		1,901,373
Spirax-Sarco Engineering PLC		19,327		2,819,982
SSE PLC		324,229		7,002,825
St. James’s Place PLC		252,452		3,792,099
Standard Chartered PLC		818,139		5,639,177
Taylor Wimpey PLC		1,205,864		1,876,901
Tesco PLC		2,209,509		7,086,195
Unilever PLC		783,340		38,150,920
United Utilities Group PLC		153,270		2,036,427
Vodafone Group PLC		8,127,260		11,976,795
Whitbread PLC		49,948		1,589,836
WPP PLC		400,533		4,322,706


				662,137,256

United States — 61.0%
3M Co.		174,487		24,993,518
A O Smith Corp.		35,294		2,233,051
Abbott Laboratories		540,890		58,870,468
AbbVie Inc.		540,022		77,498,557
Abiomed Inc.^(a)		14,746		4,320,725
Accenture PLC, Class A		192,384		58,919,524
Activision Blizzard Inc.		237,280		18,970,536
Adobe Inc.^(a)		143,718		58,941,626
Advance Auto Parts Inc.		21,295		4,123,138
Advanced Micro Devices Inc.^(a)		500,814		47,311,899
AES Corp. (The)		221,118		4,913,242
Affirm Holdings Inc.^(a)(b)		56,907		1,527,384
Aflac Inc.		203,710		11,672,583
Agilent Technologies Inc.		92,472		12,400,495
Air Products and Chemicals Inc.		67,982		16,875,172
Airbnb Inc., Class A^(a)		98,033		10,879,702
Akamai Technologies Inc.^(a)		53,428		5,140,842
Albemarle Corp.		37,081		9,059,259
Alcoa Corp.		54,563		2,776,711
Alexandria Real Estate Equities Inc.		38,460		6,375,899
Align Technology Inc.^(a)		23,524		6,609,538
Alleghany Corp.^(a)		4,486		3,756,935
Allegion PLC		24,727		2,613,644
Alliant Energy Corp.		85,268		5,195,379
Allstate Corp. (The)		86,047		10,064,918
Ally Financial Inc.		87,193		2,883,473
Alnylam Pharmaceuticals Inc.^(a)		38,500		5,468,540
Alphabet Inc., Class A^(a)		1,810,332		210,577,818
Alphabet Inc., Class C, NVS^(a)		1,720,680		200,700,115
Altria Group Inc.		558,348		24,489,143
Amazon.com Inc.^(a)		2,769,837		373,789,503
AMC Entertainment Holdings Inc., Class A^(a)(b)		162,522		2,366,320
AMERCO		2,764		1,484,489
Ameren Corp.		82,467		7,679,327
American Electric Power Co. Inc.		154,782		15,255,314
American Express Co.		198,095		30,510,592


Security	Shares		Value

United States (continued)
American Financial Group Inc./OH		24,554	$	3,282,379
American Homes 4 Rent, Class A		25,740		975,031
American International Group Inc.		261,635		13,544,844
American Tower Corp.		139,972		37,908,617
American Water Works Co. Inc.		59,778		9,291,892
Ameriprise Financial Inc.		35,194		9,499,564
AmerisourceBergen Corp.		50,593		7,383,036
AMETEK Inc.		75,159		9,282,136
Amgen Inc.		170,806		42,269,361
Amphenol Corp., Class A		191,304		14,755,278
Analog Devices Inc.		163,964		28,195,249
Annaly Capital Management Inc.		371,634		2,556,842
Ansys Inc.^(a)		21,323		5,948,904
Aon PLC, Class A		66,844		19,454,278
APA Corp.		92,782		3,448,707
Apollo Global Management Inc.		117,483		6,708,279
Apple Inc.		4,939,315		802,688,081
Applied Materials Inc.		275,420		29,189,012
AppLovin Corp., Class A^(a)(b)		34,203		1,215,575
Aptiv PLC^(a)		84,887		8,903,797
Aramark		53,861		1,798,957
Arch Capital Group Ltd.		100,832		4,476,941
Archer-Daniels-Midland Co.		173,572		14,366,554
Arista Networks Inc.^(a)		73,937		8,623,272
Arrow Electronics Inc.^(a)		20,228		2,592,623
Arthur J Gallagher & Co.		54,155		9,693,203
Assurant Inc.^(b)		13,665		2,402,034
AT&T Inc.		2,123,864		39,886,166
Atmos Energy Corp.		38,198		4,636,855
Autodesk Inc.^(a)		69,068		14,940,790
Automatic Data Processing Inc.		130,651		31,502,569
AutoZone Inc.^(a)		6,276		13,414,260
Avalara Inc.^(a)		28,314		2,475,210
AvalonBay Communities Inc.		44,728		9,569,108
Avantor Inc.^(a)		169,561		4,920,660
Avery Dennison Corp.		18,821		3,584,648
Baker Hughes Co.		274,661		7,056,041
Ball Corp.		102,756		7,544,346
Bank of America Corp.		2,184,524		73,858,756
Bank of New York Mellon Corp. (The)		242,695		10,547,525
Bath & Body Works Inc.		80,046		2,844,835
Baxter International Inc.		156,157		9,160,170
Becton Dickinson and Co.		89,543		21,876,250
Bentley Systems Inc., Class B^(b)		56,011		2,218,036
Berkshire Hathaway Inc., Class B^(a)		393,108		118,168,265
Best Buy Co. Inc.		65,706		5,058,705
Bill.com Holdings Inc.^(a)(b)		28,040		3,787,643
Biogen Inc.^(a)		45,315		9,745,444
BioMarin Pharmaceutical Inc.^(a)		59,380		5,109,649
Bio-Rad Laboratories Inc., Class A^(a)		7,500		4,224,450
Bio-Techne Corp.		10,961		4,223,054
Black Knight Inc.^(a)		44,183		2,901,939
BlackRock Inc.^(e)		47,401		31,719,801
Blackstone Inc., NVS		209,500		21,383,665
Block Inc.^(a)(b)		155,008		11,789,908
Boeing Co. (The)^(a)		170,280		27,127,307
Booking Holdings Inc.^(a)		12,554		24,300,652
Booz Allen Hamilton Holding Corp.		44,840		4,303,743
BorgWarner Inc.		77,651		2,986,457
Boston Properties Inc.		50,404		4,594,829


Security	Shares		Value

United States (continued)
Boston Scientific Corp.^(a)		449,276	$	18,442,780
Bristol-Myers Squibb Co.		659,710		48,673,404
Broadcom Inc.		124,732		66,791,491
Broadridge Financial Solutions Inc.		30,127		4,836,890
Brown & Brown Inc.		79,317		5,163,537
Brown-Forman Corp., Class B		101,105		7,504,013
Bunge Ltd.		41,924		3,870,843
Burlington Stores Inc.^(a)(b)		21,793		3,075,646
Cable One Inc.		1,597		2,198,558
Cadence Design Systems Inc.^(a)		88,920		16,546,234
Caesars Entertainment Inc.^(a)(b)		66,577		3,041,903
Camden Property Trust		31,216		4,404,578
Campbell Soup Co.		49,318		2,433,843
Capital One Financial Corp.		127,567		14,010,684
Cardinal Health Inc.		92,153		5,488,633
Carlyle Group Inc. (The)		45,798		1,782,000
CarMax Inc.^(a)(b)		52,260		5,201,960
Carnival Corp.^(a)		271,127		2,456,411
Carrier Global Corp.		265,933		10,778,264
Carvana Co., Class A^(a)(b)		29,355		855,698
Catalent Inc.^(a)		51,506		5,825,329
Caterpillar Inc.		165,071		32,725,326
Cboe Global Markets Inc.		37,883		4,674,005
CBRE Group Inc., Class A^(a)		107,116		9,171,272
CDW Corp./DE		36,344		6,597,526
Celanese Corp.		35,673		4,191,934
Centene Corp.^(a)		181,310		16,856,391
CenterPoint Energy Inc.		116,031		3,677,022
Ceridian HCM Holding Inc.^(a)		41,924		2,296,177
CF Industries Holdings Inc.		66,916		6,389,809
CH Robinson Worldwide Inc.		40,508		4,484,236
Charles River Laboratories International Inc.^(a)		14,277		3,576,960
Charles Schwab Corp. (The)		433,021		29,900,100
Charter Communications Inc., Class A^(a)		37,362		16,144,120
Cheniere Energy Inc.		74,871		11,199,204
Chevron Corp.		587,259		96,181,279
Chewy Inc., Class A^(a)(b)		29,493		1,144,623
Chipotle Mexican Grill Inc.^(a)(b)		8,619		13,482,012
Chubb Ltd.		132,594		25,012,532
Church & Dwight Co. Inc.		81,018		7,127,153
Cigna Corp.		99,043		27,272,480
Cincinnati Financial Corp.		40,805		3,971,959
Cintas Corp.		24,930		10,607,466
Cisco Systems Inc.		1,272,239		57,721,483
Citigroup Inc.		570,794		29,624,209
Citizens Financial Group Inc.		137,028		5,202,953
Citrix Systems Inc.		38,398		3,893,941
Cleveland-Cliffs Inc.^(a)(b)		155,915		2,761,255
Clorox Co. (The)		39,298		5,574,028
Cloudflare Inc., Class A^(a)		78,650		3,957,668
CME Group Inc.		112,832		22,507,727
CMS Energy Corp.		92,931		6,387,148
Coca-Cola Co. (The)		1,239,987		79,569,966
Cognex Corp.		51,992		2,650,552
Cognizant Technology Solutions Corp., Class A		165,957		11,278,438
Coinbase Global Inc., Class A^(a)(b)		34,013		2,141,458
Colgate-Palmolive Co.		231,225		18,206,656
Comcast Corp., Class A		1,369,118		51,369,307
Conagra Brands Inc.		161,836		5,536,410
ConocoPhillips		393,525		38,341,141


Security	Shares		Value

United States (continued)
Consolidated Edison Inc.		102,847	$	10,209,622
Constellation Brands Inc., Class A		51,669		12,726,591
Constellation Energy Corp.		103,038		6,810,812
Cooper Companies Inc. (The)		11,771		3,849,117
Copart Inc.^(a)		65,905		8,442,430
Corning Inc.		246,795		9,072,184
Corteva Inc.		229,688		13,218,544
CoStar Group Inc.^(a)		125,342		9,098,576
Costco Wholesale Corp.		133,897		72,478,446
Coterra Energy Inc.		243,928		7,461,758
Coupa Software Inc.^(a)		22,351		1,462,202
Crowdstrike Holdings Inc., Class A^(a)		59,960		11,008,656
Crown Castle International Corp.		134,401		24,280,885
Crown Holdings Inc.		31,767		3,230,069
CSX Corp.		674,719		21,813,665
Cummins Inc.		45,565		10,083,990
CVS Health Corp.		401,701		38,434,752
Danaher Corp.		200,349		58,395,723
Darden Restaurants Inc.		40,951		5,097,990
Datadog Inc., Class A^(a)		67,823		6,918,624
DaVita Inc.^(a)		22,811		1,919,774
Deere & Co.		86,926		29,831,265
Dell Technologies Inc., Class C		79,698		3,591,192
Delta Air Lines Inc.^(a)		50,800		1,615,440
DENTSPLY SIRONA Inc.		72,973		2,638,704
Devon Energy Corp.		196,920		12,376,422
Dexcom Inc.^(a)		120,824		9,917,234
Diamondback Energy Inc.		50,099		6,413,674
Digital Realty Trust Inc.		88,239		11,687,256
Discover Financial Services		91,548		9,246,348
DISH Network Corp., Class A^(a)		79,561		1,381,975
DocuSign Inc.^(a)		61,037		3,905,147
Dollar General Corp.		73,092		18,158,246
Dollar Tree Inc.^(a)		70,040		11,581,814
Dominion Energy Inc.		238,915		19,586,252
Domino’s Pizza Inc.		11,898		4,665,325
DoorDash Inc., Class A^(a)		54,573		3,806,467
Dover Corp.		47,130		6,300,338
Dow Inc.		230,558		12,267,991
DR Horton Inc.		108,618		8,475,463
Dropbox Inc., Class A^(a)		84,332		1,917,710
DTE Energy Co.		56,608		7,376,022
Duke Energy Corp.		232,445		25,552,679
Duke Realty Corp.		122,485		7,662,662
DuPont de Nemours Inc.		159,973		9,795,147
Dynatrace Inc.^(a)		66,128		2,488,397
Eastman Chemical Co.		28,901		2,772,473
Eaton Corp. PLC		119,952		17,799,677
eBay Inc.		192,192		9,346,297
Ecolab Inc.		79,900		13,197,083
Edison International		117,851		7,986,762
Edwards Lifesciences Corp.^(a)		196,642		19,770,387
Elanco Animal Health Inc.^(a)(b)		113,193		2,293,290
Electronic Arts Inc.		87,338		11,461,366
Elevance Health Inc.		74,422		35,506,736
Eli Lilly & Co.		246,740		81,347,711
Emerson Electric Co.		189,920		17,106,094
Enphase Energy Inc.^(a)		40,967		11,642,002
Entegris Inc.		40,233		4,421,607
Entergy Corp.		64,066		7,375,919


Security	Shares		Value

United States (continued)
EOG Resources Inc.		168,073	$	18,693,079
EPAM Systems Inc.^(a)		17,041		5,951,569
EQT Corp.		100,684		4,433,117
Equifax Inc.		39,220		8,193,450
Equinix Inc.		27,778		19,548,490
Equitable Holdings Inc.		122,701		3,488,389
Equity LifeStyle Properties Inc.		40,457		2,974,399
Equity Residential		114,234		8,954,803
Erie Indemnity Co., Class A, NVS		7,660		1,557,738
Essential Utilities Inc.		77,134		4,006,340
Essex Property Trust Inc.		21,319		6,108,533
Estee Lauder Companies Inc. (The), Class A		72,338		19,755,508
Etsy Inc.^(a)(b)		39,440		4,090,717
Everest Re Group Ltd.		13,787		3,603,232
Evergy Inc.		53,451		3,648,565
Eversource Energy		103,506		9,131,299
Exact Sciences Corp.^(a)(b)		51,322		2,314,622
Exelon Corp.		309,237		14,376,428
Expedia Group Inc.^(a)		44,263		4,694,091
Expeditors International of Washington Inc.		55,066		5,850,762
Extra Space Storage Inc.		43,553		8,254,165
Exxon Mobil Corp.		1,266,342		122,746,530
F5 Inc.^(a)		19,917		3,333,309
FactSet Research Systems Inc.		9,459		4,064,343
Fair Isaac Corp.^(a)		8,548		3,949,432
Fastenal Co.		184,154		9,458,149
FedEx Corp.		75,035		17,489,908
Fidelity National Financial Inc.		87,600		3,500,496
Fidelity National Information Services Inc.		182,022		18,595,368
Fifth Third Bancorp		220,680		7,529,602
First Citizens BancShares Inc./NC, Class A		3,268		2,472,830
First Republic Bank/CA		55,415		9,016,575
FirstEnergy Corp.		170,685		7,015,153
Fiserv Inc.^(a)		182,570		19,293,998
FleetCor Technologies Inc.^(a)		24,124		5,309,451
FMC Corp.		42,380		4,708,418
Ford Motor Co.		1,207,861		17,743,478
Fortinet Inc.^(a)		222,668		13,282,146
Fortive Corp.		103,211		6,651,949
Fortune Brands Home & Security Inc., NVS		32,707		2,279,024
Fox Corp., Class A, NVS		111,134		3,679,647
Franklin Resources Inc.		96,359		2,645,055
Freeport-McMoRan Inc.		459,698		14,503,472
Garmin Ltd.		38,933		3,800,639
Gartner Inc.^(a)		27,565		7,317,956
Generac Holdings Inc.^(a)		20,001		5,366,268
General Dynamics Corp.		66,949		15,175,330
General Electric Co.		334,605		24,730,656
General Mills Inc.		175,470		13,123,401
General Motors Co.^(a)		400,541		14,523,617
Genuine Parts Co.		34,572		5,285,022
Gilead Sciences Inc.		377,550		22,558,612
Global Payments Inc.		89,465		10,943,359
Globe Life Inc.		26,691		2,688,584
GoDaddy Inc., Class A^(a)		54,664		4,054,976
Goldman Sachs Group Inc. (The)		103,650		34,555,873
Guidewire Software Inc.^(a)(b)		27,892		2,167,766
Halliburton Co.		273,744		8,020,699
Hartford Financial Services Group Inc. (The)		106,867		6,889,715
Hasbro Inc.		41,540		3,270,029


Security	Shares		Value

United States (continued)
HCA Healthcare Inc.		75,658	$	16,071,272
Healthpeak Properties Inc.		181,511		5,015,149
HEICO Corp.^(b)		13,594		2,143,910
HEICO Corp., Class A		15,260		1,948,397
Henry Schein Inc.^(a)		32,646		2,573,484
Hershey Co. (The)		45,082		10,276,893
Hess Corp.		90,164		10,140,745
Hewlett Packard Enterprise Co.		422,163		6,011,601
Hilton Worldwide Holdings Inc.		75,196		9,630,352
Hologic Inc.^(a)		65,287		4,660,186
Home Depot Inc. (The)		315,017		94,801,216
Honeywell International Inc.		209,321		40,285,920
Horizon Therapeutics PLC^(a)		67,404		5,592,510
Hormel Foods Corp.		96,836		4,777,888
Host Hotels & Resorts Inc.		231,043		4,114,876
Howmet Aerospace Inc.		130,245		4,835,997
HP Inc.		341,565		11,404,855
HubSpot Inc.^(a)(b)		13,776		4,243,008
Humana Inc.		39,189		18,889,098
Huntington Bancshares Inc./OH		272,252		3,618,229
Huntington Ingalls Industries Inc.		12,359		2,679,926
IAC/InterActiveCorp.^(a)(b)		26,101		1,787,919
IDEX Corp.		22,380		4,671,825
IDEXX Laboratories Inc.^(a)		27,164		10,843,326
Illinois Tool Works Inc.		97,605		20,278,415
Illumina Inc.^(a)		46,540		10,084,287
Incyte Corp.^(a)		60,367		4,689,309
Ingersoll Rand Inc.		117,654		5,859,169
Insulet Corp.^(a)		20,629		5,111,866
Intel Corp.		1,228,023		44,589,515
Intercontinental Exchange Inc.		177,358		18,088,742
International Business Machines Corp.		273,423		35,760,994
International Flavors & Fragrances Inc.		77,311		9,590,430
International Paper Co.		119,199		5,098,141
Interpublic Group of Companies Inc. (The)		84,468		2,523,059
Intuit Inc.		83,382		38,036,367
Intuitive Surgical Inc.^(a)		111,264		25,609,635
Invesco Ltd.		99,646		1,767,720
Invitation Homes Inc.		134,521		5,250,355
IQVIA Holdings Inc.^(a)		51,555		12,387,120
Iron Mountain Inc.		82,328		3,992,085
Jack Henry & Associates Inc.		18,555		3,855,172
Jacobs Engineering Group Inc.		40,209		5,520,696
Jazz Pharmaceuticals PLC^(a)		18,922		2,952,967
JB Hunt Transport Services Inc.		20,308		3,721,847
JM Smucker Co. (The)		29,054		3,844,425
Johnson & Johnson		785,235		137,039,212
Johnson Controls International PLC		219,508		11,833,676
JPMorgan Chase & Co.		876,866		101,155,262
Juniper Networks Inc.		103,957		2,913,915
Kellogg Co.		64,682		4,781,293
Keurig Dr Pepper Inc.		187,055		7,246,511
KeyCorp.		297,682		5,447,581
Keysight Technologies Inc.^(a)		57,252		9,309,175
Kimberly-Clark Corp.		98,056		12,922,800
Kimco Realty Corp.		188,244		4,162,075
Kinder Morgan Inc.		631,312		11,357,303
KKR & Co. Inc.		166,656		9,242,742
KLA Corp.		48,438		18,577,911
Knight-Swift Transportation Holdings Inc.		41,214		2,264,709


Security	Shares		Value

United States (continued)
Kraft Heinz Co. (The)		205,853	$	7,581,566
Kroger Co. (The)		215,422		10,004,198
L3Harris Technologies Inc.		58,486		14,034,885
Laboratory Corp. of America Holdings		30,776		8,069,159
Lam Research Corp.		43,485		21,764,677
Las Vegas Sands Corp.^(a)(b)		106,449		4,012,063
Lear Corp.		12,394		1,873,229
Leidos Holdings Inc.		43,166		4,618,762
Lennar Corp., Class A		86,455		7,348,675
Lennox International Inc.		8,834		2,116,008
Liberty Broadband Corp., Class C ^(a)		47,766		5,203,150
Liberty Global PLC, Class A^(a)		47,362		1,030,597
Liberty Global PLC, Class C, NVS^(a)(b)		104,660		2,395,667
Liberty Media Corp.-Liberty Formula One, Class C, NVS^(a)		68,985		4,675,113
Liberty Media Corp.-Liberty SiriusXM, Class A, NVS^(a)(b)		19,338		770,619
Liberty Media Corp.-Liberty SiriusXM, Class C, NVS^(a)		39,932		1,590,092
Lincoln National Corp.		61,315		3,147,912
Live Nation Entertainment Inc.^(a)		44,543		4,186,597
LKQ Corp.		90,545		4,965,488
Lockheed Martin Corp.		73,463		30,399,724
Loews Corp.^(b)		46,949		2,734,779
Lowe’s Companies Inc.		204,016		39,075,184
LPL Financial Holdings Inc.		22,085		4,636,083
Lucid Group Inc.^(a)(b)		128,085		2,337,551
Lululemon Athletica Inc.^(a)		36,618		11,370,255
Lumen Technologies Inc.		293,486		3,196,063
Lyft Inc., Class A^(a)		88,557		1,227,400
LyondellBasell Industries NV, Class A		84,968		7,572,348
M&T Bank Corp.		45,579		8,087,994
Marathon Oil Corp.		174,651		4,331,345
Marathon Petroleum Corp.		171,238		15,695,675
Markel Corp.^(a)		3,368		4,368,768
MarketAxess Holdings Inc.		10,376		2,809,613
Marriott International Inc./MD, Class A		87,273		13,860,698
Marsh & McLennan Companies Inc.		157,568		25,834,849
Martin Marietta Materials Inc.		20,213		7,116,593
Marvell Technology Inc.		255,257		14,212,710
Masco Corp.		84,139		4,659,618
Masimo Corp.^(a)		15,820		2,287,256
Mastercard Inc., Class A		264,873		93,709,419
Match Group Inc.^(a)		82,900		6,077,399
McCormick & Co. Inc./MD, NVS		81,010		7,076,223
McDonald’s Corp.		224,565		59,143,684
McKesson Corp.		45,374		15,498,851
Medical Properties Trust Inc.		161,190		2,778,916
Medtronic PLC		407,140		37,668,593
MercadoLibre Inc.^(a)(b)		13,653		11,109,583
Merck & Co. Inc.		767,602		68,577,563
Meta Platforms Inc, Class A^(a)		699,298		111,258,312
MetLife Inc.		226,193		14,306,707
Mettler-Toledo International Inc.^(a)		6,243		8,426,364
MGM Resorts International		121,996		3,992,929
Microchip Technology Inc.		165,543		11,399,291
Micron Technology Inc.		341,716		21,138,552
Microsoft Corp.		2,154,210		604,772,915
Mid-America Apartment Communities Inc.		38,190		7,093,029
Moderna Inc.^(a)		105,268		17,273,426


Security	Shares		Value

United States (continued)
Mohawk Industries Inc.^(a)		18,284	$	2,349,128
Molina Healthcare Inc.^(a)		16,510		5,410,657
Molson Coors Beverage Co., Class B		62,693		3,745,907
Mondelez International Inc., Class A		427,552		27,380,430
MongoDB Inc.^(a)(b)		20,471		6,396,573
Monolithic Power Systems Inc.		13,704		6,368,523
Monster Beverage Corp.^(a)		123,821		12,335,048
Moody’s Corp.		52,134		16,174,573
Morgan Stanley		410,139		34,574,718
Mosaic Co. (The)		116,296		6,124,147
Motorola Solutions Inc.		52,654		12,562,718
MSCI Inc.		23,283		11,207,039
Nasdaq Inc.		29,503		5,337,093
NetApp Inc.		75,944		5,417,086
Netflix Inc.^(a)		134,789		30,314,046
Neurocrine Biosciences Inc.^(a)		28,598		2,691,930
Newell Brands Inc.		138,430		2,797,670
Newmont Corp.		246,646		11,168,131
News Corp., Class A, NVS		124,926		2,141,232
NextEra Energy Inc.		584,781		49,408,147
Nike Inc., Class B		386,353		44,399,687
NiSource Inc.		76,605		2,328,792
Nordson Corp.		16,418		3,792,394
Norfolk Southern Corp.		73,798		18,535,844
Northern Trust Corp.		65,165		6,502,164
Northrop Grumman Corp.		46,461		22,250,173
NortonLifeLock Inc.		191,611		4,700,218
Novocure Ltd.^(a)(b)		28,682		1,950,089
NRG Energy Inc.		80,164		3,026,191
Nucor Corp.^(b)		84,393		11,460,569
Nvidia Corp.		756,795		137,456,676
NVR Inc.^(a)		814		3,575,983
Occidental Petroleum Corp.		290,068		19,071,971
Okta Inc.^(a)		44,485		4,379,548
Old Dominion Freight Line Inc.		26,846		8,148,029
Omnicom Group Inc.		69,769		4,872,667
ON Semiconductor Corp.^(a)(b)		125,983		8,413,145
ONEOK Inc.		146,927		8,777,419
Oracle Corp.		494,608		38,500,287
O’Reilly Automotive Inc.^(a)		21,267		14,963,249
Otis Worldwide Corp.		111,963		8,752,148
Owens Corning		24,724		2,292,904
PACCAR Inc.		111,363		10,191,942
Packaging Corp. of America		22,867		3,215,329
Palantir Technologies Inc., Class A^(a)(b)		486,844		5,038,835
Palo Alto Networks Inc.^(a)(b)		30,827		15,385,756
Paramount Global, Class B, NVS		180,711		4,273,815
Parker-Hannifin Corp.		41,883		12,107,956
Paychex Inc.		104,638		13,422,963
Paycom Software Inc.^(a)		16,322		5,394,258
PayPal Holdings Inc.^(a)		336,975		29,158,447
Peloton Interactive Inc., Class A^(a)		89,267		847,144
Pentair PLC		59,752		2,921,275
PepsiCo Inc.		420,086		73,498,247
PerkinElmer Inc.^(b)		33,655		5,154,936
Pfizer Inc.		1,700,795		85,907,155
PG&E Corp.^(a)		460,439		5,000,368
Philip Morris International Inc.		467,083		45,377,113
Phillips 66		146,219		13,013,491
Pinterest Inc., Class A^(a)		171,673		3,344,190


Security	Shares		Value

United States (continued)
Pioneer Natural Resources Co.		67,927	$	16,095,303
Plug Power Inc.^(a)(b)		160,444		3,423,875
PNC Financial Services Group Inc. (The)		132,130		21,925,652
Pool Corp.		11,921		4,264,142
PPG Industries Inc.		75,468		9,757,258
PPL Corp.		228,688		6,650,247
Principal Financial Group Inc.^(b)		83,488		5,588,687
Procter & Gamble Co. (The)		723,757		100,537,085
Progressive Corp. (The)		183,155		21,073,814
Prologis Inc.		227,540		30,162,702
Prudential Financial Inc.		120,165		12,015,298
PTC Inc.^(a)		29,781		3,674,380
Public Service Enterprise Group Inc.		161,256		10,589,682
Public Storage		49,924		16,295,693
PulteGroup Inc.		85,864		3,745,388
Qorvo Inc.^(a)		36,066		3,753,389
Qualcomm Inc.		343,102		49,770,376
Quanta Services Inc.		39,804		5,522,009
Quest Diagnostics Inc.		38,604		5,272,148
Raymond James Financial Inc.		49,108		4,835,665
Raytheon Technologies Corp.		451,668		42,099,974
Realty Income Corp.		165,465		12,242,755
Regency Centers Corp.		36,488		2,350,922
Regeneron Pharmaceuticals Inc.^(a)		33,022		19,208,567
Regions Financial Corp.		310,983		6,586,620
Republic Services Inc.		69,261		9,603,730
ResMed Inc.		46,864		11,271,729
RingCentral Inc., Class A^(a)		24,123		1,193,847
Rivian Automotive Inc., Class A^(a)(b)		54,420		1,866,606
Robert Half International Inc.		31,425		2,486,975
ROBLOX Corp., Class A^(a)		102,827		4,414,363
Rockwell Automation Inc.		36,025		9,196,462
Roku Inc.^(a)(b)		35,975		2,357,082
Rollins Inc.		67,481		2,602,742
Roper Technologies Inc.		32,571		14,222,779
Ross Stores Inc.		111,401		9,052,445
Royal Caribbean Cruises Ltd.^(a)		68,417		2,648,422
RPM International Inc.		35,036		3,167,254
S&P Global Inc.		107,619		40,564,830
Salesforce Inc.^(a)		298,162		54,867,771
SBA Communications Corp.		35,321		11,860,439
Schlumberger NV		425,973		15,773,780
Seagen Inc.^(a)		41,818		7,526,404
Sealed Air Corp.		40,683		2,486,545
SEI Investments Co.		26,177		1,449,159
Sempra Energy		89,365		14,816,717
Sensata Technologies Holding PLC		44,233		1,967,042
ServiceNow Inc.^(a)		61,375		27,413,757
Sherwin-Williams Co. (The)		77,048		18,640,993
Signature Bank/New York NY		17,958		3,332,466
Simon Property Group Inc.		99,699		10,831,299
Sirius XM Holdings Inc.^(b)		348,037		2,324,887
Skyworks Solutions Inc.		52,716		5,739,718
Snap Inc., Class A, NVS^(a)		332,087		3,281,020
Snap-on Inc.		13,063		2,926,765
Snowflake Inc., Class A^(a)		65,138		9,764,838
SolarEdge Technologies Inc.^(a)		16,015		5,767,482
Southern Co. (The)		330,535		25,414,836
Southwest Airlines Co.^(a)		46,846		1,785,770
Splunk Inc.^(a)(b)		51,482		5,349,495


Security	Shares		Value

United States (continued)
SS&C Technologies Holdings Inc.		71,134	$	4,208,999
Stanley Black & Decker Inc.		41,504		4,039,584
Starbucks Corp.		352,709		29,902,669
State Street Corp.		117,207		8,326,385
Steel Dynamics Inc.		51,091		3,978,967
Stryker Corp.		105,823		22,725,489
Sun Communities Inc.		29,819		4,889,123
SVB Financial Group^(a)		17,733		7,156,152
Synchrony Financial		166,926		5,588,682
Synopsys Inc.^(a)		43,997		16,168,897
Sysco Corp.^(b)		156,187		13,260,276
T Rowe Price Group Inc.		69,583		8,591,413
Take-Two Interactive Software Inc.^(a)		44,983		5,970,594
Targa Resources Corp.		49,418		3,415,278
Target Corp.		146,121		23,873,249
Teladoc Health Inc.^(a)(b)		47,313		1,743,484
Teledyne Technologies Inc.^(a)		13,474		5,273,724
Teleflex Inc.		10,837		2,605,865
Teradyne Inc.		52,678		5,314,683
Tesla Inc.^(a)		266,170		237,277,246
Texas Instruments Inc.		281,139		50,292,956
Textron Inc.		69,673		4,573,336
Thermo Fisher Scientific Inc.		118,398		70,850,547
TJX Companies Inc. (The)		368,263		22,522,965
T-Mobile U.S. Inc.^(a)		189,537		27,115,163
Tractor Supply Co.		35,231		6,746,032
Trade Desk Inc. (The), Class A^(a)		135,459		6,095,655
Tradeweb Markets Inc., Class A		31,541		2,224,271
TransDigm Group Inc.^(a)		16,487		10,260,520
TransUnion		61,957		4,908,853
Travelers Companies Inc. (The)		75,356		11,958,997
Trimble Inc.^(a)		85,478		5,934,738
Truist Financial Corp.		413,318		20,860,159
Twilio Inc., Class A^(a)		51,725		4,386,280
Twitter Inc.^(a)		247,596		10,302,470
Tyler Technologies Inc.^(a)		11,832		4,720,968
Tyson Foods Inc., Class A		93,312		8,212,389
U.S. Bancorp		412,806		19,484,443
Uber Technologies Inc.^(a)		423,835		9,938,931
UDR Inc.		96,847		4,687,395
UGI Corp.		58,060		2,505,870
Ulta Beauty, Inc.^(a)		16,245		6,317,843
Union Pacific Corp.		193,200		43,914,360
United Parcel Service Inc., Class B		221,782		43,223,094
United Rentals Inc.^(a)		24,110		7,779,574
UnitedHealth Group Inc.		285,184		154,666,691
Unity Software Inc.^(a)(b)		55,727		2,083,633
Universal Health Services Inc., Class B		17,920		2,015,462
Upstart Holdings Inc.^(a)(b)		20,146		490,152
Vail Resorts Inc.		13,600		3,224,968
Valero Energy Corp.		122,882		13,611,639
Veeva Systems Inc., Class A^(a)		43,892		9,813,373
Ventas Inc.		121,022		6,508,563
VeriSign Inc.^(a)		33,341		6,306,784
Verisk Analytics Inc.		48,663		9,258,136
Verizon Communications Inc.		1,225,235		56,593,605
Vertex Pharmaceuticals Inc.^(a)		79,339		22,247,449
VF Corp.		95,828		4,281,595
Viatris Inc.		380,271		3,684,826
VICI Properties Inc.		292,914		10,014,730


Security	Shares		Value


United States (continued)
Visa Inc., Class A		502,387	$	106,561,307
Vistra Corp.		113,267		2,927,952
VMware Inc., Class A		61,372		7,131,426
Vornado Realty Trust		50,294		1,528,435
Vulcan Materials Co.		42,394		7,009,000
W R Berkley Corp.		67,661		4,230,842
Walgreens Boots Alliance Inc.		224,453		8,892,828
Walmart Inc.		457,262		60,381,447
Walt Disney Co. (The)^(a)		552,052		58,572,717
Warner Bros. Discovery Inc.^(a)		657,392		9,860,880
Waste Management Inc.		131,104		21,574,474
Waters Corp.^(a)		20,049		7,298,437
Wayfair Inc., Class A^(a)(b)		22,608		1,218,797
Webster Financial Corp.		54,401		2,526,926
WEC Energy Group Inc.		101,114		10,496,644
Wells Fargo & Co.		1,159,446		50,864,896
Welltower Inc.		131,590		11,361,481
West Pharmaceutical Services Inc.		23,793		8,174,323
Western Digital Corp.^(a)		95,830		4,705,253
Western Union Co. (The)		142,884		2,431,886
Westinghouse Air Brake Technologies Corp.		55,763		5,212,168
Westlake Corp.^(b)		9,363		911,394
Westrock Co.		86,992		3,684,981
Weyerhaeuser Co.		229,995		8,353,418
Whirlpool Corp.		20,564		3,554,899
Williams Companies Inc. (The)		328,925		11,213,053
Willis Towers Watson PLC		38,355		7,937,184
Workday Inc., Class A^(a)		56,208		8,717,861
WP Carey Inc.		46,898		4,187,991
WW Grainger Inc.		14,260		7,750,738
Wynn Resorts Ltd.^(a)(b)		34,175		2,169,429
Xcel Energy Inc.		166,428		12,179,201
Xylem Inc./NY		61,127		5,625,518
Yum! Brands Inc.		92,308		11,311,422
Zebra Technologies Corp., Class A^(a)		16,501		5,902,243
Zendesk Inc.^(a)		35,571		2,682,765
Zillow Group Inc., Class C ^(a)(b)		54,688		1,907,517
Zimmer Biomet Holdings Inc.		64,257		7,093,330
Zoetis Inc.		146,893		26,815,317
Zoom Video Communications Inc., Class A^(a)		66,707		6,928,189
ZoomInfo Technologies Inc.^(a)		79,661		3,018,355
Zscaler Inc.^(a)(b)		26,250		4,070,325


			11,056,624,749


Total Common Stocks — 99.3% (Cost: $15,439,665,843)				17,999,916,174


Preferred Stocks

Brazil — 0.2%
Banco Bradesco SA, Preference Shares, NVS		1,936,683		6,524,108
Cia. Energetica de Minas Gerais, Preference Shares, NVS		686,018		1,490,277
Gerdau SA, Preference Shares, NVS		266,320		1,258,999
Itau Unibanco Holding SA, Preference Shares, NVS		1,379,365		6,296,864
Itausa SA, Preference Shares, NVS		1,536,684		2,563,070


Security	Shares		Value


Brazil (continued)
Petroleo Brasileiro SA, Preference Shares, NVS		1,828,294	$	12,067,073


				30,200,391

Chile — 0.0%
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares		46,450		4,613,504


Colombia — 0.0%
Bancolombia SA, Preference Shares, NVS		200,457		1,478,528


Germany — 0.1%
Bayerische Motoren Werke AG, Preference Shares, NVS		4,823		366,187
Henkel AG & Co. KGaA, Preference Shares, NVS		56,847		3,631,574
Porsche Automobil Holding SE, Preference Shares, NVS		50,393		3,647,531
Sartorius AG, Preference Shares, NVS		9,363		4,188,063
Volkswagen AG, Preference Shares, NVS		66,380		9,385,458


				21,218,813

Russia — 0.0%
Surgutneftegas PJSC, Preference Shares, NVS^(d)		1,929,900		309


South Korea — 0.1%
Samsung Electronics Co. Ltd., Preference Shares, NVS		266,173		11,698,204


Total Preferred Stocks — 0.4% (Cost: $64,045,095)				69,209,749


Total Long-Term Investments — 99.7% (Cost: $15,503,710,938)				18,069,125,923


Short-Term Securities

Money Market Funds — 1.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		168,572,547		168,555,690
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		18,730,000		18,730,000


Total Short-Term Securities — 1.0% (Cost: $187,230,384)				187,285,690


Total Investments in Securities — 100.7% (Cost: $15,690,941,322)				18,256,411,613

Liabilities in Excess of Other Assets — (0.7)%				(129,034,867	)


Net Assets — 100.0%			$	18,127,376,746

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	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.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Australia — 1.8%
Ampol Ltd.		19,964	$	472,977
Aristocrat Leisure Ltd.		15,004		374,321
ASX Ltd.		3,844		238,923
Australia & New Zealand Banking Group Ltd.		36,408		588,399
Australia & New Zealand Banking Group Ltd., New		2,427		38,833
BlueScope Steel Ltd.		14,632		171,873
Brambles Ltd.		62,744		505,008
Cochlear Ltd.		1,240		186,901
Coles Group Ltd.		7,564		99,620
Commonwealth Bank of Australia		25,048		1,778,844
Computershare Ltd.		14,012		247,550
CSL Ltd.		7,812		1,590,656
Dexus		33,604		225,819
Endeavour Group Ltd./Australia		18,972		105,701
Fortescue Metals Group Ltd.		53,568		689,343
Goodman Group		27,776		406,503
GPT Group (The)		110,484		355,449
Insurance Australia Group Ltd.		62,000		195,087
Lendlease Corp. Ltd.		6,076		44,018
Lottery Corp. Ltd. (The)^(a)		72,168		228,924
Macquarie Group Ltd.		5,704		730,017
Mineral Resources Ltd.		9,424		359,093
Mirvac Group		77,004		116,660
National Australia Bank Ltd.		50,592		1,092,611
Newcrest Mining Ltd.		11,904		160,421
Northern Star Resources Ltd.		37,820		207,845
QBE Insurance Group Ltd.		33,852		273,718
Ramsay Health Care Ltd.		3,968		196,026
Rio Tinto PLC		13,516		815,954
Scentre Group		108,624		222,597
Sonic Healthcare Ltd.		10,416		250,833
Stockland		86,428		234,193
Suncorp Group Ltd.		24,056		189,977
Telstra Corp. Ltd.		109,368		298,904
Transurban Group		62,000		633,745
Treasury Wine Estates Ltd.		32,240		277,910
Vicinity Centres		98,580		144,242
Wesfarmers Ltd.		19,468		637,879
Westpac Banking Corp.		55,676		843,109
Woolworths Group Ltd.		15,996		420,840


				16,651,323

Austria — 0.0%
Erste Group Bank AG		14,508		367,817


Belgium — 0.2%
Anheuser-Busch InBev SA/NV		15,624		836,943
Elia Group SA/NV		2,392		363,134
Proximus SADP		12,896		178,700
Umicore SA		7,440		269,494


				1,648,271

Brazil — 0.4%
Ambev SA		99,216		286,290
B3 SA - Brasil, Bolsa, Balcao		130,200		279,067
Banco Bradesco SA		67,528		188,850
Banco BTG Pactual SA		48,856		212,738
Banco do Brasil SA		32,612		226,716
Cia. Siderurgica Nacional SA		71,176		202,354
Hapvida Participacoes e Investimentos SA^(b)		44,856		53,403


Security	Shares		Value

Brazil (continued)
Localiza Rent a Car SA		25,296	$	281,653
Petro Rio SA^(a)		44,392		207,799
Telefonica Brasil SA		19,344		166,743
Vale SA		93,992		1,267,069
WEG SA		15,872		86,015


				3,458,697

Canada — 3.5%
Agnico Eagle Mines Ltd.		12,524		538,496
Alimentation Couche-Tard Inc.		15,624		698,020
AltaGas Ltd.		69,688		1,552,613
Bank of Montreal		9,300		927,131
Bank of Nova Scotia (The)		20,212		1,231,298
BCE Inc.		7,936		400,968
Brookfield Asset Management Inc., Class A		23,188		1,150,572
Brookfield Renewable Corp., Class A		9,796		383,257
Cameco Corp.		25,420		654,681
Canadian Imperial Bank of Commerce		10,664		539,467
Canadian National Railway Co.		8,804		1,115,359
Canadian Pacific Railway Ltd.		13,640		1,075,499
Canadian Tire Corp. Ltd., Class A, NVS		2,728		350,461
Canadian Utilities Ltd., Class A, NVS		9,424		305,045
CCL Industries Inc., Class B, NVS		6,200		311,465
CGI Inc.^(a)		2,356		202,014
Constellation Software Inc.		372		632,814
Dollarama Inc.		4,216		255,518
Enbridge Inc.		49,476		2,221,987
Fairfax Financial Holdings Ltd.		744		400,774
First Quantum Minerals Ltd.		17,980		328,556
Franco-Nevada Corp.		7,440		952,666
George Weston Ltd.		2,480		296,000
Great-West Lifeco Inc.		3,844		93,417
Hydro One Ltd.^(b)		33,480		934,684
Intact Financial Corp.		2,728		406,042
Ivanhoe Mines Ltd., Class A^(a)		30,628		190,386
Keyera Corp.		18,476		478,871
Loblaw Companies Ltd.		5,456		496,666
Lundin Mining Corp.		41,664		234,910
Manulife Financial Corp.		23,560		431,257
Metro Inc.		5,580		308,991
National Bank of Canada^(c)		2,604		182,710
Nutrien Ltd.		7,936		679,352
Open Text Corp.		11,656		476,781
Pan American Silver Corp.		6,448		131,221
Parkland Corp.		14,260		400,111
Pembina Pipeline Corp.		42,284		1,614,357
Power Corp. of Canada		3,472		94,354
Restaurant Brands International Inc.		3,596		192,781
Ritchie Bros Auctioneers Inc.		3,100		223,443
Rogers Communications Inc., Class B, NVS		7,688		353,436
Royal Bank of Canada		20,336		1,982,861
Shaw Communications Inc., Class B, NVS		8,928		241,510
Shopify Inc., Class A^(a)		17,360		604,763
Sun Life Financial Inc.		5,456		253,339
TC Energy Corp.		6,448		343,762
TELUS Corp.		9,176		211,244
TFI International Inc.		2,976		297,240
Thomson Reuters Corp.		3,720		417,710
Toronto-Dominion Bank (The)		25,544		1,659,248
West Fraser Timber Co. Ltd.		2,232		208,968
Wheaton Precious Metals Corp.		22,196		761,620


Security	Shares		Value

Canada (continued)
WSP Global Inc.		2,852	$	344,098


				31,774,794

Chile — 0.0%
Falabella SA		97,340		217,127


China — 3.6%
Agricultural Bank of China Ltd., Class H		1,364,000		449,877
Alibaba Group Holding Ltd.^(a)		235,668		2,649,726
Alibaba Health Information Technology Ltd.^(a)		42,000		25,221
ANTA Sports Products Ltd.^(c)		24,800		273,069
Baidu Inc.^(a)		8,008		138,413
Baidu Inc., ADR^(a)		4,004		546,826
Bank of China Ltd., Class H		2,604,000		925,944
Bank of Communications Co. Ltd., Class A		830,800		568,920
Bank of Jiangsu Co. Ltd., Class A		235,600		251,612
Bilibili Inc., ADR^(a)		4,247		103,797
Bilibili Inc., Class Z^(a)		43		1,051
BYD Co. Ltd., Class H		7,000		256,102
CGN Power Co. Ltd., Class H^(b)		1,736,000		400,293
China CITIC Bank Corp. Ltd., Class H		744,000		310,977
China Conch Venture Holdings Ltd.		124,000		240,397
China Construction Bank Corp., Class H		2,108,000		1,346,190
China Everbright Bank Co. Ltd., Class A		223,200		95,968
China Life Insurance Co. Ltd., Class H		248,000		369,376
China Mengniu Dairy Co. Ltd.		18,000		83,628
China Merchants Bank Co. Ltd., Class A		124,000		645,058
China Merchants Port Holdings Co. Ltd.		248,000		399,986
China Minsheng Banking Corp. Ltd., Class A		806,060		434,829
China National Nuclear Power Co. Ltd., Class A		396,898		363,180
China Northern Rare Earth Group High-Tech Co. Ltd., Class A		37,200		173,268
China Oilfield Services Ltd., Class H		248,000		228,452
China Overseas Land & Investment Ltd.		124,000		342,664
China Pacific Insurance Group Co. Ltd., Class H		173,600		370,814
China Resources Beer Holdings Co. Ltd.		14,000		96,568
China Resources Gas Group Ltd.		24,900		104,491
China Resources Land Ltd.		22,000		91,878
China Suntien Green Energy Corp. Ltd., Class H		496,000		243,288
China Tower Corp. Ltd., Class H^(b)		2,480,000		319,058
China Vanke Co. Ltd., Class H		62,000		117,929
China Yangtze Power Co. Ltd., Class A		173,600		614,685
CMOC Group Ltd., Class H		744,000		365,258
Contemporary Amperex Technology Co. Ltd., Class A^(a)		3,500		265,378
Country Garden Holdings Co. Ltd.^(c)		248,000		95,906
Country Garden Services Holdings Co. Ltd.		15,000		33,451
ENN Energy Holdings Ltd.		24,800		404,552
Foshan Haitian Flavouring & Food Co. Ltd., Class A		12,485		153,088
Ganfeng Lithium Co. Ltd., Class H^(b)		35,680		322,628
Geely Automobile Holdings Ltd.		124,000		245,879
Industrial & Commercial Bank of China Ltd., Class H		1,364,000		721,130
Industrial Bank Co. Ltd., Class A		55,898		147,356
Innovent Biologics Inc.^(a)(b)		14,000		58,521
JD.com Inc., Class A		33,944		1,012,636
Jiangsu Expressway Co. Ltd., Class H		248,000		216,420
Kuaishou Technology^(a)(b)		37,200		374,025
Kweichow Moutai Co. Ltd., Class A		800		224,927
Lenovo Group Ltd.		248,000		240,509
Li Auto Inc., ADR^(a)		9,548		313,556
Li Ning Co. Ltd.		62,000		502,921
Meituan, Class B^(a)(b)		66,200		1,485,088


Security	Shares		Value

China (continued)
Muyuan Foods Co. Ltd., Class A		15,236	$	134,864
NetEase Inc.		37,300		697,762
New China Life Insurance Co. Ltd., Class H		173,600		413,693
NIO Inc., ADR^(a)		25,048		494,197
Nongfu Spring Co. Ltd., Class H^(b)		49,600		297,262
People’s Insurance Co. Group of China Ltd. (The), Class H		1,116,000		334,138
PICC Property & Casualty Co. Ltd., Class H		496,000		509,140
Pinduoduo Inc., ADR^(a)(c)		7,564		370,712
Ping An Insurance Group Co. of China Ltd., Class H		124,000		728,753
Shenzhen International Holdings Ltd.		372,000		342,646
Shenzhou International Group Holdings Ltd.		24,800		260,850
Sichuan Chuantou Energy Co. Ltd., Class A		297,600		550,108
Sinopharm Group Co. Ltd., Class H		99,200		227,286
Sunac China Holdings Ltd.^(d)		144,000		36,688
Tencent Holdings Ltd.		86,800		3,354,717
Trip.com Group Ltd., ADR^(a)		9,920		255,738
WuXi AppTec Co. Ltd., Class H^(b)		14,400		174,444
Wuxi Biologics Cayman Inc., New^(a)(b)		62,000		593,471
Xiaomi Corp., Class B^(a)(b)		272,800		429,056
Xinjiang Goldwind Science & Technology Co. Ltd., Class H		27,200		48,593
XPeng Inc., ADR^(a)(c)		9,300		227,199
Yantai Jereh Oilfield Services Group Co. Ltd., Class A		62,000		330,049
Zhejiang Expressway Co. Ltd., Class H		248,000		199,608
Zhejiang Huayou Cobalt Co. Ltd., Class A		11,440		142,988
ZhongAn Online P&C Insurance Co. Ltd., Class H^(a)(b)		136,400		346,349
Zhuzhou CRRC Times Electric Co. Ltd.		62,000		266,250
Zijin Mining Group Co. Ltd., Class H		248,000		290,609
ZTO Express Cayman Inc., ADR^(c)		7,440		190,390


				33,014,324

Colombia — 0.0%
Bancolombia SA		17,484		146,781
Interconexion Electrica SA ESP		59,272		284,815


				431,596

Czech Republic — 0.0%
Komercni Banka AS		8,680		219,313


Denmark — 0.6%
Carlsberg A/S, Class B		1,300		168,144
Chr Hansen Holding A/S		3,844		251,601
DSV A/S		2,976		501,459
Genmab A/S^(a)		868		308,852
Novo Nordisk A/S, Class B		25,916		3,018,534
Novozymes A/S, Class B		4,836		308,925
Orsted A/S^(b)		6,200		721,783
Vestas Wind Systems A/S		17,360		456,285


				5,735,583

Finland — 0.3%
Kesko OYJ, Class B		9,176		226,951
Kone OYJ, Class B		5,208		238,013
Neste OYJ		20,212		1,039,327
Nokia OYJ		67,456		351,350
Nordea Bank Abp		36,208		357,010
Sampo OYJ, Class A		3,596		155,357


				2,368,008

France — 2.5%
Aeroports de Paris^(a)		1,984		274,133
Airbus SE		11,036		1,189,920


Security	Shares		Value

France (continued)
Alstom SA		9,176	$	218,074
AXA SA		44,020		1,014,331
BNP Paribas SA		18,476		872,941
Bureau Veritas SA		8,184		225,720
Capgemini SE		1,984		378,422
Carrefour SA		10,292		175,397
Covivio		4,588		290,162
Danone SA		10,912		601,679
Dassault Systemes SE		6,820		292,521
Edenred		3,381		173,548
Eiffage SA		2,232		209,449
EssilorLuxottica SA		5,084		797,081
Eurofins Scientific SE		2,480		193,337
Gecina SA		1,057		108,375
Getlink SE		13,392		268,032
Hermes International		496		680,484
Kering SA		1,240		709,889
Klepierre SA		9,796		217,668
Legrand SA		3,224		263,944
L’Oreal SA		4,340		1,640,769
LVMH Moet Hennessy Louis Vuitton SE		4,464		3,099,596
Orange SA		15,872		162,187
Pernod Ricard SA		3,968		779,491
Publicis Groupe SA		4,960		263,948
Renault SA^(a)		7,192		212,627
Safran SA		6,944		763,253
Sanofi		18,600		1,848,348
Sartorius Stedim Biotech		620		248,024
Schneider Electric SE		9,920		1,371,974
Societe Generale SA		19,096		427,872
Sodexo SA		2,852		231,735
Teleperformance		868		290,260
Thales SA		1,736		215,888
Unibail-Rodamco-Westfield^(a)		3,224		183,074
Vinci SA		11,408		1,093,557
Vivendi SE		18,104		171,867
Worldline SA/France^(a)(b)		6,200		273,656


				22,433,233

Germany — 1.6%
adidas AG		3,348		579,175
Allianz SE, Registered		7,068		1,283,592
Aroundtown SA^(c)		50,964		163,443
Bayer AG, Registered		15,748		918,585
Bayerische Motoren Werke AG		11,780		962,583
Beiersdorf AG		1,754		180,881
Daimler Truck Holding AG^(a)		9,920		271,064
Delivery Hero SE^(a)(b)		2,976		143,581
Deutsche Bank AG, Registered		35,712		312,371
Deutsche Boerse AG		2,480		432,922
Deutsche Post AG, Registered		11,532		460,587
Deutsche Telekom AG, Registered		46,252		878,741
Fresenius SE & Co. KGaA		7,564		193,555
GEA Group AG		5,952		222,174
Hannover Rueck SE		1,736		246,246
HelloFresh SE^(a)		7,316		202,212
Infineon Technologies AG		19,592		537,300
Mercedes-Benz Group AG		16,368		965,286
Merck KGaA		2,356		448,725
MTU Aero Engines AG		1,240		239,709


Security	Shares		Value

Germany (continued)
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered		2,604	$	590,342
Puma SE		124		8,373
SAP SE		16,616		1,549,819
Siemens AG, Registered		13,268		1,479,965
Siemens Healthineers AG^(b)		4,216		216,043
Symrise AG		2,356		274,911
Vonovia SE		8,579		285,851
Zalando SE^(a)(b)		5,580		157,094


				14,205,130

Hong Kong — 0.6%
AIA Group Ltd.		198,400		1,993,254
BOC Hong Kong Holdings Ltd.		62,000		224,274
CK Asset Holdings Ltd.		62,000		438,943
Galaxy Entertainment Group Ltd.^(c)		46,000		273,657
Hong Kong Exchanges & Clearing Ltd.		20,900		959,110
Link REIT		49,600		415,367
Sands China Ltd.^(a)		49,600		116,339
Sino Land Co. Ltd.		248,000		368,488
Sun Hung Kai Properties Ltd.		33,500		399,894
Techtronic Industries Co. Ltd.		26,500		294,060


				5,483,386

India — 1.4%
Adani Enterprises Ltd.		10,788		351,006
Adani Ports & Special Economic Zone Ltd.		19,840		191,768
Adani Total Gas Ltd.		8,556		338,464
Adani Transmission Ltd.^(a)		5,828		229,695
Asian Paints Ltd.		12,896		544,789
Avenue Supermarts Ltd.^(a)(b)		6,448		346,811
Axis Bank Ltd.		38,588		354,539
Bandhan Bank Ltd.^(b)		21,680		75,948
Bharti Airtel Ltd.^(a)		44,020		377,482
DLF Ltd.		58,776		287,623
HCL Technologies Ltd.		21,700		260,964
Hindustan Unilever Ltd.		17,732		592,370
Housing Development Finance Corp. Ltd.		22,444		677,311
ICICI Bank Ltd.		55,580		578,074
ICICI Bank Ltd., ADR, NVS		20,840		433,055
Infosys Ltd.		56,916		1,116,477
ITC Ltd.		102,052		391,360
Kotak Mahindra Bank Ltd.		12,276		281,929
Larsen & Toubro Ltd.		13,144		301,244
Mahindra & Mahindra Ltd., GDR		4,464		65,840
Marico Ltd.		39,308		257,660
Maruti Suzuki India Ltd.		2,728		303,570
Nestle India Ltd.		1,488		364,405
PI Industries Ltd.		7,812		305,478
Pidilite Industries Ltd.		12,276		380,830
Power Grid Corp. of India Ltd.		125,116		338,822
Reliance Industries Ltd.		36,332		1,155,515
SBI Life Insurance Co. Ltd.^(b)		14,508		237,664
Sun Pharmaceutical Industries Ltd.		27,776		331,290
Tata Consultancy Services Ltd.		15,893		664,785
Tata Motors Ltd.^(a)		47,120		268,852
Tech Mahindra Ltd.		16,368		217,652
Titan Co. Ltd.		9,424		280,663
Wipro Ltd.		25,668		136,960


				13,040,895


Security	Shares		Value

Indonesia — 0.3%
Astra International Tbk PT		830,800	$	354,833
Bank Central Asia Tbk PT		496,000		246,641
Bank Mandiri Persero Tbk PT		409,200		229,053
Bank Negara Indonesia Persero Tbk PT		322,400		171,103
Bank Rakyat Indonesia Persero Tbk PT		1,003,937		296,355
Gudang Garam Tbk PT		86,800		162,983
Merdeka Copper Gold Tbk PT^(a)		992,035		272,262
Telkom Indonesia Persero Tbk PT		1,587,200		453,336
Vale Indonesia Tbk PT^(a)		384,400		158,672


				2,345,238

Ireland — 0.5%
Flutter Entertainment PLC, Class DI^(a)		4,464		448,183
James Hardie Industries PLC		17,856		440,984
Kerry Group PLC, Class A		2,852		301,032
Kingspan Group PLC		3,348		216,710
Linde PLC		6,200		1,872,400
Seagate Technology Holdings PLC		2,852		228,103
STERIS PLC		1,116		251,825
Trane Technologies PLC		4,340		637,937


				4,397,174

Israel — 0.4%
Azrieli Group Ltd.		3,348		268,366
Bank Hapoalim BM		45,832		427,154
Bank Leumi Le-Israel BM		52,374		509,264
Check Point Software Technologies Ltd.^(a)		2,480		309,008
Elbit Systems Ltd.		1,240		286,109
ICL Group Ltd.		21,700		197,740
Isracard Ltd.		—		1
Israel Discount Bank Ltd., Class A		42,091		239,324
Kornit Digital Ltd.^(a)		2,728		74,229
Mizrahi Tefahot Bank Ltd.		7,316		271,980
Nice Ltd.^(a)		1,116		238,263
Teva Pharmaceutical Industries Ltd., ADR^(a)		27,280		255,886
ZIM Integrated Shipping Services Ltd.		3,348		166,797


				3,244,121

Italy — 0.6%
Assicurazioni Generali SpA		25,916		387,435
Atlantia SpA		14,508		335,289
Ferrari NV		2,108		447,660
Intesa Sanpaolo SpA		345,960		614,359
Mediobanca Banca di Credito Finanziario SpA		20,460		175,480
Moncler SpA		5,084		254,855
Poste Italiane SpA^(b)		27,280		229,161
Snam SpA		159,712		801,360
Stellantis NV		59,520		854,722
Tenaris SA		61,504		860,689
Terna - Rete Elettrica Nazionale		56,420		431,940
UniCredit SpA		44,144		436,570


				5,829,520

Japan — 5.4%
Asahi Group Holdings Ltd.		12,400		431,103
Astellas Pharma Inc.		37,800		592,000
Canon Inc.		24,800		586,714
Central Japan Railway Co.		1,900		222,484
Chugai Pharmaceutical Co. Ltd.		12,400		348,351
Concordia Financial Group Ltd.		74,400		253,109
Dai-ichi Life Holdings Inc.		12,400		215,696
Daiichi Sankyo Co. Ltd.		24,800		657,565
Daikin Industries Ltd.		3,800		666,437


Security	Shares		Value

Japan (continued)
Daiwa House Industry Co. Ltd.		12,400	$	306,380
Denso Corp.		3,800		207,841
Dentsu Group Inc.		12,400		433,151
FANUC Corp.		4,100		707,088
Fast Retailing Co. Ltd.		1,000		605,590
Fujitsu Ltd.		3,300		442,406
Hitachi Ltd.		12,400		627,788
Honda Motor Co. Ltd.		12,400		317,777
Hoya Corp.		12,400		1,242,376
Hulic Co. Ltd.		37,200		298,347
Iida Group Holdings Co. Ltd.		12,400		203,018
Isuzu Motors Ltd.		24,800		272,021
ITOCHU Corp.		21,100		614,214
Japan Post Holdings Co. Ltd.		49,600		357,112
Japan Post Insurance Co. Ltd.		12,400		200,481
Japan Tobacco Inc.		24,800		445,299
Kajima Corp.		12,400		141,555
Kao Corp.		12,400		539,330
KDDI Corp.		24,800		795,145
Keyence Corp.		2,900		1,149,392
Kirin Holdings Co. Ltd.		37,200		611,879
Komatsu Ltd.		12,400		286,668
Kubota Corp.		12,400		205,881
Kyocera Corp.		3,100		172,325
M3 Inc.		24,800		864,030
Makita Corp.		12,400		303,037
Marubeni Corp.		124,000		1,153,481
MISUMI Group Inc.		12,400		308,491
Mitsubishi Corp.		24,800		737,038
Mitsubishi Electric Corp.		37,200		392,617
Mitsubishi Estate Co. Ltd.		12,400		184,160
Mitsubishi UFJ Financial Group Inc.		210,800		1,187,751
Mitsui & Co. Ltd.		62,000		1,367,860
Mitsui Fudosan Co. Ltd.		12,400		277,133
Mizuho Financial Group Inc.		49,600		591,548
MS&AD Insurance Group Holdings Inc.		12,400		402,149
Murata Manufacturing Co. Ltd.		12,400		724,293
Nexon Co. Ltd.		12,400		281,506
Nidec Corp.		12,400		861,726
Nintendo Co. Ltd.		2,100		939,063
Nippon Paint Holdings Co. Ltd.		37,200		284,363
Nippon Telegraph & Telephone Corp.		24,800		708,420
Nomura Holdings Inc.		74,400		283,874
Nomura Research Institute Ltd.		12,400		372,549
NTT Data Corp.		12,400		187,674
Obayashi Corp.		37,200		273,585
Olympus Corp.		24,800		530,773
Omron Corp.		2,100		117,449
Ono Pharmaceutical Co. Ltd.		12,400		348,674
Oriental Land Co. Ltd./Japan		4,100		622,498
ORIX Corp.		24,800		441,981
Otsuka Holdings Co. Ltd.		12,400		442,965
Panasonic Holdings Corp.		24,800		204,752
Recruit Holdings Co. Ltd.		24,800		926,851
Renesas Electronics Corp.^(a)		24,800		236,216
Resona Holdings Inc.		99,200		385,516
Ricoh Co. Ltd.		12,400		99,734
SBI Holdings Inc/Japan		12,400		251,564
Sekisui House Ltd.		12,400		219,621
Seven & i Holdings Co. Ltd.		12,400		505,427


Security	Shares		Value

Japan (continued)
Shimizu Corp.		49,600	$	281,165
Shin-Etsu Chemical Co. Ltd.		6,700		858,231
Shiseido Co. Ltd.		12,400		510,052
SMC Corp.		600		295,702
SoftBank Corp.		37,200		430,116
SoftBank Group Corp.		24,800		1,041,768
Sompo Holdings Inc.		12,400		553,427
Sony Group Corp.		24,800		2,103,732
Subaru Corp.		15,400		267,974
Sumitomo Corp.		12,400		174,343
Sumitomo Metal Mining Co. Ltd.		12,400		389,903
Sumitomo Mitsui Financial Group Inc.		24,800		778,028
Sumitomo Mitsui Trust Holdings Inc.		12,400		407,331
Sumitomo Realty & Development Co. Ltd.		12,400		342,402
Takeda Pharmaceutical Co. Ltd.		24,875		729,837
Terumo Corp.		12,400		423,381
Tokio Marine Holdings Inc.		12,400		725,895
Tokyo Electron Ltd.		2,600		894,903
Toshiba Corp.		12,500		507,094
Toyota Motor Corp.		173,600		2,817,706
Unicharm Corp.		12,400		449,156
Yaskawa Electric Corp.		12,400		434,296
Yokogawa Electric Corp.		12,400		219,893
Z Holdings Corp.		62,000		219,123


				49,032,350

Kuwait — 0.1%
Agility Public Warehousing Co. KSC		79,908		233,281
Kuwait Finance House KSCP		81,999		238,169
Mobile Telecommunications Co. KSCP		165,540		327,962
National Bank of Kuwait SAKP		124,248		433,902


				1,233,314

Malaysia — 0.1%
Dialog Group Bhd		458,800		228,100
Malayan Banking Bhd		111,600		222,275
Petronas Dagangan Bhd		99,200		499,288
Public Bank Bhd		207,300		216,277


				1,165,940

Mexico — 0.2%
Alfa SAB de CV, Class A		260,400		178,961
America Movil SAB de CV, Series L, NVS		322,401		306,815
Fomento Economico Mexicano SAB de CV		37,200		231,808
Grupo Carso SAB de CV, Series A1		37,200		145,092
Grupo Financiero Banorte SAB de CV, Class O		37,201		211,667
Grupo Mexico SAB de CV, Series B		74,400		294,162
Wal-Mart de Mexico SAB de CV		74,400		269,490


				1,637,995

Netherlands — 1.1%
Adyen NV^(a)(b)		372		669,143
Aegon NV		36,332		159,578
AerCap Holdings NV^(a)(c)		4,340		194,692
Akzo Nobel NV		5,456		367,191
ASM International NV		620		190,446
ASML Holding NV		6,076		3,492,229
Davide Campari-Milano NV		26,908		298,729
Heineken NV		2,480		244,495
ING Groep NV		48,484		470,965
Koninklijke Ahold Delhaize NV		6,820		187,814
Koninklijke DSM NV		3,100		496,462
Koninklijke Philips NV		16,368		338,756


Security	Shares		Value

Netherlands (continued)
NN Group NV		4,960	$	232,735
NXP Semiconductors NV		4,216		775,238
Prosus NV, Class N		14,756		962,608
Randstad NV		4,712		238,159
Wolters Kluwer NV		2,852		309,734


				9,628,974

New Zealand — 0.1%
Meridian Energy Ltd.		99,696		312,871
Xero Ltd.^(a)		4,712		310,420


				623,291

Norway — 0.4%
Adevinta ASA^(a)		27,528		209,333
DNB Bank ASA		37,324		736,245
Gjensidige Forsikring ASA		24,552		513,524
Kongsberg Gruppen ASA		8,308		306,139
Mowi ASA		21,760		502,114
Orkla ASA		66,836		576,946
Salmar ASA		5,580		399,688
Telenor ASA		44,144		536,091


				3,780,080

Peru — 0.0%
Southern Copper Corp.		5,456		271,709


Philippines — 0.1%
ACEN Corp.		1,525,200		231,932
BDO Unibank Inc.		60,500		131,328
International Container Terminal Services Inc.		68,200		240,266
SM Prime Holdings Inc.		289,800		192,594


				796,120

Poland — 0.0%
Powszechny Zaklad Ubezpieczen SA		42,532		278,619


Qatar — 0.1%
Barwa Real Estate Co.		410,440		402,514
Industries Qatar QSC		61,504		286,474
Mesaieed Petrochemical Holding Co.		578,832		430,583
Qatar National Bank QPSC		15,252		83,576


				1,203,147

Russia — 0.0%
Alrosa PJSC^(d)		184,910		30
Magnit PJSC^(d)		4,127		1
Magnit PJSC, GDR^(d)		1		—
Mobile TeleSystems PJSC^(d)		73,304		12
Moscow Exchange MICEX-Rates PJSC^(a)(d)		152,460		24
Ozon Holdings PLC, GDR^(a)(d)		5,270		1
Polymetal International PLC^(d)		12,434		2
Polyus PJSC^(d)		1,430		—
Sberbank of Russia PJSC^(a)(d)		292,860		47
TCS Group Holding PLC, GDR^(a)(d)		4,185		1
United Co. RUSAL International PJSC^(a)(d)		509,950		82
VK Co. Ltd.^(a)(d)		22,940		4
VTB Bank PJSC^(d)		22,490,000		3
Yandex NV^(a)(d)		9,920		1


				208

Saudi Arabia — 0.6%
Al Rajhi Bank		34,128		822,318
Alinma Bank		21,700		221,389
Arab National Bank		36,084		298,432
Bank Al-Jazira		9,300		65,528


Security	Shares		Value

Saudi Arabia (continued)
Banque Saudi Fransi		18,600	$	254,968
Dar Al Arkan Real Estate Development Co.^(a)		94,736		319,961
Dr Sulaiman Al Habib Medical Services Group Co.		3,720		204,106
Emaar Economic City^(a)		81,964		222,182
Etihad Etisalat Co.		22,692		229,124
Riyad Bank		34,348		334,462
SABIC Agri-Nutrients Co.		10,540		376,129
Saudi British Bank (The)		27,900		314,090
Saudi National Bank (The)		46,500		872,886
Saudi Telecom Co.		23,064		620,159
Yanbu National Petrochemical Co.		16,244		215,984


				5,371,718

Singapore — 0.4%
Ascendas Real Estate Investment Trust		68,402		147,232
CapitaLand Integrated Commercial Trust		161,200		254,651
City Developments Ltd.		49,600		278,664
DBS Group Holdings Ltd.		24,800		565,895
Genting Singapore Ltd.		570,400		333,135
Keppel Corp. Ltd.		49,600		247,811
Oversea-Chinese Banking Corp. Ltd.^(c)		41,100		348,310
Sea Ltd., ADR^(a)(c)		6,200		473,184
Singapore Exchange Ltd.		12,600		90,324
Singapore Telecommunications Ltd.		272,800		515,885
United Overseas Bank Ltd.		5,100		101,752


				3,356,843

South Africa — 0.4%
Absa Group Ltd.		25,916		265,574
Anglo American Platinum Ltd.		2,356		180,730
Capitec Bank Holdings Ltd.		1,612		193,723
FirstRand Ltd.		129,208		511,118
Growthpoint Properties Ltd.		286,068		233,226
MTN Group Ltd.		35,216		295,560
Naspers Ltd., Class N		4,092		578,144
Nedbank Group Ltd.		20,398		266,638
Old Mutual Ltd.		125,364		85,509
Sanlam Ltd.		48,254		158,474
Standard Bank Group Ltd.		43,648		420,511


				3,189,207

South Korea — 1.4%
Amorepacific Corp.^(c)		1,488		148,085
Celltrion Inc.		1,716		251,232
Coway Co. Ltd.^(c)		4,092		201,864
Doosan Enerbility Co. Ltd.		10,540		152,914
GS Engineering & Construction Corp.		6,324		145,385
Hana Financial Group Inc.		8,556		245,185
Hotel Shilla Co. Ltd.		1,612		89,287
Hyundai Mobis Co. Ltd.		1,488		261,899
Hyundai Motor Co.		2,604		393,759
Industrial Bank of Korea		23,808		172,306
Kakao Corp.		6,324		365,187
KB Financial Group Inc.		6,337		235,685
Kia Corp.		4,836		302,769
KT&G Corp.		6,944		437,674
LG Chem Ltd.		496		231,014
LG Electronics Inc.		2,604		189,942
LG Energy Solution^(a)(c)		992		323,474
LG H&H Co. Ltd.		248		149,055
LG Innotek Co. Ltd.		620		173,835
NAVER Corp.^(c)		2,356		471,297


Security	Shares		Value

South Korea (continued)
NCSoft Corp.^(c)		620	$	178,119
Samsung Biologics Co. Ltd.^(a)(b)		620		412,961
Samsung C&T Corp.		2,356		218,716
Samsung Electronics Co. Ltd.		76,632		3,627,387
Samsung Engineering Co. Ltd.^(a)		10,168		153,907
Samsung Fire & Marine Insurance Co. Ltd.		992		150,707
Samsung Life Insurance Co. Ltd.		7,068		330,407
Samsung SDI Co. Ltd.		868		381,529
Samsung SDS Co. Ltd.		1,364		143,067
Shinhan Financial Group Co. Ltd.		9,424		259,529
SK Hynix Inc.		9,052		684,302
SK IE Technology Co. Ltd.^(a)(b)		2,232		141,295
SK Inc.		3,348		567,893
Woori Financial Group Inc.		12,524		114,929


				12,306,596

Spain — 0.7%
Acciona SA		1,240		255,155
Aena SME SA^(a)(b)		2,232		282,325
Amadeus IT Group SA^(a)		9,052		527,824
Banco Bilbao Vizcaya Argentaria SA		109,244		495,058
Banco Santander SA		276,892		692,748
CaixaBank SA		70,556		211,861
Cellnex Telecom SA^(b)		8,184		366,063
EDP Renovaveis SA		29,884		777,261
Enagas SA		7,009		138,348
Ferrovial SA		14,380		385,069
Iberdrola SA		82,956		885,843
Iberdrola SA, NVS		2,286		24,366
Industria de Diseno Textil SA		25,048		608,340
Red Electrica Corp. SA		9,559		187,934
Telefonica SA		123,261		550,199


				6,388,394

Sweden — 0.8%
Assa Abloy AB, Class B		15,128		357,414
Atlas Copco AB, Class A		19,592		229,018
Atlas Copco AB, Class B		42,785		444,437
Boliden AB		21,204		708,614
Epiroc AB, Class A		12,772		225,830
EQT AB		4,960		134,631
Evolution AB^(b)		3,472		336,891
H & M Hennes & Mauritz AB, Class B		22,320		285,574
Hexagon AB, Class B		26,288		309,529
Holmen AB, Class B		4,340		178,339
Industrivarden AB, Class C		10,912		281,532
Investor AB, Class B		48,608		907,109
Nibe Industrier AB, Class B		31,992		322,291
Sandvik AB		15,500		285,606
Skanska AB, Class B		14,756		251,737
Svenska Cellulosa AB SCA, Class B		15,996		233,855
Swedish Match AB		23,064		241,446
Tele2 AB, Class B		19,220		219,562
Telefonaktiebolaget LM Ericsson, Class B		53,692		408,394
Telia Co. AB		63,488		234,547
Volvo AB, Class B		33,604		603,327
Volvo Car AB, Class B^(a)		17,980		133,875


				7,333,558

Switzerland — 2.6%
ABB Ltd., Registered		25,296		768,988
Adecco Group AG, Registered		6,324		222,776


Security	Shares		Value

Switzerland (continued)
Alcon Inc.		5,704	$	448,928
Cie. Financiere Richemont SA, Class A, Registered		8,680		1,046,613
Credit Suisse Group AG, Registered		32,240		187,526
Geberit AG, Registered		496		261,232
Givaudan SA, Registered		173		604,731
Julius Baer Group Ltd.		6,820		352,662
Kuehne + Nagel International AG, Registered		868		233,771
Logitech International SA, Registered		3,596		202,319
Lonza Group AG, Registered		744		452,167
Nestle SA, Registered		42,532		5,211,330
Novartis AG, Registered		34,100		2,930,200
Partners Group Holding AG		248		270,753
Roche Holding AG, NVS		10,664		3,540,496
Schindler Holding AG, Participation Certificates, NVS		1,240		242,369
SGS SA, Registered		124		302,618
Siemens Energy AG^(a)		9,424		156,603
Sika AG, Registered		3,596		888,526
Sonova Holding AG, Registered		620		223,313
STMicroelectronics NV		10,292		389,486
Straumann Holding AG		2,232		301,879
Swatch Group AG (The), Bearer		992		264,087
Swiss Life Holding AG, Registered		620		328,436
Swiss Re AG		4,588		344,269
Swisscom AG, Registered		372		201,117
TE Connectivity Ltd.		5,952		795,961
Temenos AG, Registered		1,860		147,633
UBS Group AG, Registered		56,296		919,895
VAT Group AG^(b)		992		288,842
Vifor Pharma AG ^(a)		1,116		194,979
Zurich Insurance Group AG		1,736		757,813


				23,482,318

Taiwan — 1.6%
Acer Inc.		248,000		188,165
Catcher Technology Co. Ltd.		124,000		708,217
Cathay Financial Holding Co. Ltd.		380,253		580,097
China Development Financial Holding Corp.		496,542		214,949
CTBC Financial Holding Co. Ltd.		496,400		381,369
Delta Electronics Inc.		35,000		304,399
E.Sun Financial Holding Co. Ltd.		265,179		244,439
Fubon Financial Holding Co. Ltd.		248,380		466,560
Hon Hai Precision Industry Co. Ltd.		161,720		591,045
Hotai Motor Co. Ltd.		21,000		425,312
MediaTek Inc.		25,000		576,002
Mega Financial Holding Co. Ltd.		124,000		146,892
Powerchip Semiconductor Manufacturing Corp.		124,000		146,983
Shin Kong Financial Holding Co. Ltd.		992,675		283,755
SinoPac Financial Holdings Co. Ltd.		744,200		421,500
Taishin Financial Holding Co. Ltd.		372,846		196,267
Taiwan Cooperative Financial Holding Co. Ltd.		372,754		341,754
Taiwan Semiconductor Manufacturing Co. Ltd.		393,000		6,739,779
Uni-President Enterprises Corp.		124,000		291,913
United Microelectronics Corp.		248,000		333,624
WPG Holdings Ltd.		124,000		208,341
Yuanta Financial Holding Co. Ltd.		496,600		332,870


				14,124,232

Thailand — 0.2%
Airports of Thailand PCL, NVDR^(a)		248,000		477,844
Bangkok Expressway & Metro PCL, NVDR		1,438,400		341,707
Krung Thai Bank PCL, NVDR		768,800		334,351


Security	Shares		Value

Thailand (continued)
SCB X PCL, NVS		131,000	$	361,220


				1,515,122

Turkey — 0.0%
Akbank TAS		177,127		85,318
Haci Omer Sabanci Holding AS		219,480		243,411


				328,729

United Arab Emirates — 0.1%
Emaar Properties PJSC		191,580		287,503
Emirates Telecommunications Group Co. PJSC		65,100		494,484
First Abu Dhabi Bank PJSC		82,356		435,869


				1,217,856

United Kingdom — 3.8%
3i Group PLC		37,728		586,208
abrdn PLC		63,072		127,874
Amcor PLC		23,684		306,708
Antofagasta PLC		27,032		384,630
Ashtead Group PLC		6,820		383,896
AstraZeneca PLC		23,560		3,099,111
Aviva PLC		60,264		291,848
BAE Systems PLC		35,836		336,813
Barclays PLC		298,344		571,497
Barratt Developments PLC		28,768		176,397
Berkeley Group Holdings PLC		3,663		189,829
British American Tobacco PLC		41,664		1,632,547
British Land Co. PLC (The)		39,184		235,603
BT Group PLC		139,624		275,663
Bunzl PLC		7,316		274,574
Burberry Group PLC		9,548		209,899
Clarivate PLC^(a)		12,772		185,066
CNH Industrial NV		17,236		222,045
Coca-Cola Europacific Partners PLC		4,836		261,724
Compass Group PLC		34,596		810,807
Croda International PLC		4,216		385,553
DCC PLC		2,728		178,109
Diageo PLC		38,812		1,838,596
Entain PLC^(a)		13,516		198,889
Experian PLC		16,534		578,893
Ferguson PLC		2,976		374,377
GSK PLC		67,753		1,423,504
Haleon PLC^(a)		84,692		300,956
Halma PLC		7,316		206,040
HSBC Holdings PLC		303,056		1,898,330
Imperial Brands PLC		25,792		566,298
Informa PLC^(a)		38,936		283,168
Intertek Group PLC		3,224		172,307
Johnson Matthey PLC		7,564		197,757
Land Securities Group PLC		25,296		226,046
Legal & General Group PLC		145,880		465,870
Lloyds Banking Group PLC		1,198,584		663,606
London Stock Exchange Group PLC		5,208		508,263
M&G PLC		93,868		244,686
National Grid PLC		63,364		872,496
NatWest Group PLC		74,400		225,972
Ocado Group PLC^(a)(c)		7,936		81,584
Pearson PLC		17,732		164,114
Persimmon PLC		6,854		158,096
Prudential PLC		42,117		519,487
Reckitt Benckiser Group PLC		12,276		995,764
RELX PLC		33,108		980,309


Security	Shares		Value

United Kingdom (continued)
Rentokil Initial PLC		27,900	$	184,222
Rolls-Royce Holdings PLC^(a)		165,292		180,654
Royalty Pharma PLC, Class A		6,448		280,423
Sage Group PLC (The)		124		1,069
Segro PLC		16,244		217,312
Severn Trent PLC		15,128		543,879
Shell PLC		100,936		2,692,600
Smith & Nephew PLC		14,756		189,189
Smiths Group PLC		14,756		278,478
Standard Chartered PLC		25,172		173,503
Taylor Wimpey PLC		169,136		263,257
Tesco PLC		90,396		289,912
Unilever PLC		43,221		2,104,987
United Utilities Group PLC		37,944		504,144
Vodafone Group PLC		497,116		732,579
Whitbread PLC		7,812		248,655
WPP PLC		25,544		275,681


				34,432,353

United States — 60.7%
3M Co.		7,936		1,136,753
A O Smith Corp.		3,596		227,519
Abbott Laboratories		27,652		3,009,644
AbbVie Inc.		27,900		4,003,929
Abiomed Inc.^(a)		992		290,666
Accenture PLC, Class A		9,796		3,000,123
Activision Blizzard Inc.		12,152		971,552
Adobe Inc.^(a)		7,192		2,949,583
Advanced Micro Devices Inc.^(a)		26,412		2,495,142
Affirm Holdings Inc.^(a)		1,736		46,594
Aflac Inc.		10,788		618,152
Agilent Technologies Inc.		5,084		681,764
Airbnb Inc., Class A^(a)		6,324		701,837
Akamai Technologies Inc.^(a)		2,356		226,694
Albemarle Corp.		2,852		696,772
Alexandria Real Estate Equities Inc.		1,860		308,351
Align Technology Inc.^(a)		1,364		383,243
Alleghany Corp.^(a)		248		207,695
Allegion PLC		1,612		170,388
Allstate Corp. (The)		5,208		609,180
Alnylam Pharmaceuticals Inc.^(a)		1,860		264,194
Alphabet Inc., Class A^(a)		94,240		10,961,997
Alphabet Inc., Class C, NVS^(a)		84,320		9,835,085
Altria Group Inc.		35,836		1,571,767
Amazon.com Inc.^(a)		139,872		18,875,726
AMC Entertainment Holdings Inc., Class A^(a)(c)		8,432		122,770
AMERCO		372		199,794
American Express Co.		9,052		1,394,189
American International Group Inc.		16,616		860,210
American Tower Corp.		7,316		1,981,392
American Water Works Co. Inc.		10,044		1,561,239
Ameriprise Financial Inc.		1,488		401,641
AmerisourceBergen Corp.		1,860		271,430
AMETEK Inc.		3,100		382,850
Amgen Inc.		8,804		2,178,726
Amphenol Corp., Class A		9,176		707,745
Analog Devices Inc.		8,432		1,449,967
Annaly Capital Management Inc.		61,628		424,001
Ansys Inc.^(a)		1,364		380,542
Aon PLC, Class A		2,976		866,135
Apollo Global Management Inc.		6,820		389,422


Security	Shares		Value

United States (continued)
Apple Inc.		249,116	$	40,483,841
Applied Materials Inc.		14,384		1,524,416
Aptiv PLC^(a)		4,588		481,235
Arch Capital Group Ltd.		2,108		93,595
Arista Networks Inc.^(a)		3,348		390,477
Arrow Electronics Inc.^(a)		1,860		238,396
Arthur J Gallagher & Co.		2,356		421,700
AT&T Inc.		121,148		2,275,159
Atmos Energy Corp.		6,324		767,670
Autodesk Inc.^(a)		3,472		751,063
Automatic Data Processing Inc.		7,316		1,764,034
AutoZone Inc.^(a)		372		795,109
AvalonBay Communities Inc.		2,108		450,986
Avantor Inc.^(a)		10,540		305,871
Avery Dennison Corp.		2,728		519,575
Baker Hughes Co.		28,768		739,050
Ball Corp.		6,696		491,620
Bank of America Corp.		101,060		3,416,839
Bank of New York Mellon Corp. (The)		11,780		511,959
Bath & Body Works Inc.		3,968		141,023
Baxter International Inc.		6,820		400,061
Becton Dickinson and Co.		4,464		1,090,600
Berkshire Hathaway Inc., Class B^(a)		18,352		5,516,611
Best Buy Co. Inc.		2,976		229,122
Bill.com Holdings Inc.^(a)(c)		1,240		167,499
Biogen Inc.^(a)		2,480		533,349
BioMarin Pharmaceutical Inc.^(a)		2,852		245,415
Bio-Rad Laboratories Inc., Class A^(a)		496		279,377
Bio-Techne Corp.		744		286,648
Black Knight Inc.^(a)		3,100		203,608
BlackRock Inc.^(e)		2,108		1,410,631
Blackstone Inc., NVS		11,656		1,189,728
Block Inc.^(a)		7,680		584,141
Boeing Co. (The)^(a)		8,432		1,343,302
Booking Holdings Inc.^(a)		744		1,440,153
Booz Allen Hamilton Holding Corp.		3,100		297,538
BorgWarner Inc.		3,348		128,764
Boston Properties Inc.		2,108		192,165
Boston Scientific Corp.^(a)		23,684		972,228
Bristol-Myers Squibb Co.		37,820		2,790,360
Broadcom Inc.		6,572		3,519,175
Broadridge Financial Solutions Inc.		1,240		199,082
Brown & Brown Inc.		3,720		242,172
Brown-Forman Corp., Class B		5,625		417,487
Burlington Stores Inc.^(a)		1,116		157,501
Cadence Design Systems Inc.^(a)		3,968		738,365
Camden Property Trust		992		139,971
Capital One Financial Corp.		5,456		599,232
Cardinal Health Inc.		3,844		228,949
Carlyle Group Inc. (The)		10,788		419,761
Carrier Global Corp.		14,136		572,932
Catalent Inc.^(a)		2,852		322,561
Caterpillar Inc.		7,812		1,548,729
Cboe Global Markets Inc.		2,852		351,880
CBRE Group Inc., Class A^(a)		6,324		541,461
CDW Corp./DE		1,860		337,646
Centene Corp.^(a)		7,316		680,168
CH Robinson Worldwide Inc.		2,356		260,809
Charles River Laboratories International Inc.^(a)		1,116		279,603
Charles Schwab Corp. (The)		21,204		1,464,136


Security	Shares		Value

United States (continued)
Charter Communications Inc., Class A^(a)		1,860	$	803,706
Cheniere Energy Inc.		9,548		1,428,190
Chevron Corp.		19,096		3,127,543
Chipotle Mexican Grill Inc.^(a)(c)		496		775,853
Chubb Ltd.		6,076		1,146,177
Church & Dwight Co. Inc.		4,216		370,882
Cigna Corp.		4,836		1,331,641
Cincinnati Financial Corp.		1,860		181,052
Cintas Corp.		1,860		791,411
Cisco Systems Inc.		66,836		3,032,349
Citigroup Inc.		32,116		1,666,820
Citizens Financial Group Inc.		12,276		466,120
Citrix Systems Inc.		1,736		176,048
Clorox Co. (The)		2,232		316,587
Cloudflare Inc., Class A^(a)(c)		3,720		187,190
CME Group Inc.		5,332		1,063,627
Coca-Cola Co. (The)		67,952		4,360,480
Cognex Corp.		3,472		177,003
Cognizant Technology Solutions Corp., Class A		9,548		648,882
Coinbase Global Inc., Class A^(a)(c)		2,976		187,369
Colgate-Palmolive Co.		14,756		1,161,887
Comcast Corp., Class A		69,688		2,614,694
ConocoPhillips		17,732		1,727,629
Constellation Brands Inc., Class A		3,348		824,646
Constellation Energy Corp.		4,092		270,481
Cooper Companies Inc. (The)		868		283,836
Copart Inc.^(a)		5,208		667,145
Corning Inc.		8,804		323,635
Corteva Inc.		17,856		1,027,613
CoStar Group Inc.^(a)		7,068		513,066
Costco Wholesale Corp.		7,440		4,027,272
Crowdstrike Holdings Inc., Class A^(a)		2,976		546,394
Crown Castle International Corp.		7,068		1,276,905
Crown Holdings Inc.		1,860		189,125
CSX Corp.		34,844		1,126,506
Cummins Inc.		1,488		329,309
CVS Health Corp.		20,212		1,933,884
Danaher Corp.		10,416		3,035,951
Darden Restaurants Inc.		2,480		308,735
Datadog Inc., Class A^(a)		3,348		341,529
Deere & Co.		4,340		1,489,401
Dell Technologies Inc., Class C		7,192		324,072
DENTSPLY SIRONA Inc.		5,208		188,321
Devon Energy Corp.		36,952		2,322,433
Dexcom Inc.^(a)		5,952		488,540
Digital Realty Trust Inc.		2,604		344,900
Discover Financial Services		2,480		250,480
DocuSign Inc.^(a)		2,852		182,471
Dollar General Corp.		3,100		770,133
Dollar Tree Inc.^(a)		3,472		574,130
Domino’s Pizza Inc.		620		243,108
DoorDash Inc., Class A^(a)(c)		4,216		294,066
Dover Corp.		1,612		215,492
DR Horton Inc.		6,200		483,786
Duke Realty Corp.		5,828		364,600
DuPont de Nemours Inc.		6,944		425,181
Eaton Corp. PLC		5,332		791,215
eBay Inc.		10,912		530,651
Ecolab Inc.		7,812		1,290,308
Edison International		16,492		1,117,663


Security	Shares		Value

United States (continued)
Edwards Lifesciences Corp.^(a)		10,044	$	1,009,824
Elanco Animal Health Inc.^(a)		12,028		243,687
Electronic Arts Inc.		4,216		553,266
Elevance Health Inc.		3,596		1,715,652
Eli Lilly & Co.		12,524		4,129,038
Emerson Electric Co.		9,052		815,314
Enphase Energy Inc.^(a)		2,356		669,528
Entegris Inc.		2,480		272,552
EPAM Systems Inc.^(a)		992		346,456
Equifax Inc.		2,480		518,097
Equinix Inc.		1,240		872,638
Equitable Holdings Inc.		10,540		299,652
Equity Residential		5,580		437,416
Essential Utilities Inc.		17,484		908,119
Essex Property Trust Inc.		744		213,178
Estee Lauder Companies Inc. (The), Class A		4,588		1,252,983
Etsy Inc.^(a)(c)		2,480		257,226
Eversource Energy		18,724		1,651,831
Exact Sciences Corp.^(a)(c)		3,720		167,772
Exelon Corp.		1,612		74,942
Expedia Group Inc.^(a)		3,100		328,755
Expeditors International of Washington Inc.		3,596		382,075
Extra Space Storage Inc.		2,356		446,509
FactSet Research Systems Inc.		620		266,402
Fastenal Co.		8,184		420,330
FedEx Corp.		1,364		317,935
Fidelity National Financial Inc.		9,052		361,718
Fidelity National Information Services Inc.		10,168		1,038,763
Fifth Third Bancorp		9,424		321,547
First Republic Bank/CA		2,852		464,049
Fiserv Inc.^(a)		10,062		1,063,352
FleetCor Technologies Inc.^(a)		1,240		272,912
FMC Corp.		4,712		523,503
Ford Motor Co.		60,760		892,564
Fortinet Inc.^(a)		10,540		628,711
Fortive Corp.		6,944		447,541
Fortune Brands Home & Security Inc., NVS		3,844		267,850
Fox Corp., Class A, NVS		6,820		225,810
Franklin Resources Inc.		9,672		265,496
Freeport-McMoRan Inc.		38,440		1,212,782
Garmin Ltd.		2,976		290,517
Gartner Inc.^(a)(c)		1,612		427,954
Generac Holdings Inc.^(a)		1,116		299,423
General Dynamics Corp.		3,720		843,212
General Electric Co.		17,112		1,264,748
General Mills Inc.		10,664		797,561
General Motors Co.^(a)		20,460		741,880
Genuine Parts Co.		2,108		322,250
Gilead Sciences Inc.		21,080		1,259,530
Global Payments Inc.		4,836		591,539
GoDaddy Inc., Class A^(a)		2,480		183,966
Goldman Sachs Group Inc. (The)		5,456		1,818,976
Halliburton Co.		72,788		2,132,688
Hartford Financial Services Group Inc. (The)		4,960		319,771
Hasbro Inc.		2,728		214,748
HCA Healthcare Inc.		3,720		790,202
Henry Schein Inc.^(a)		3,348		263,923
Hershey Co. (The)		2,976		678,409
Hess Corp.		1,612		181,302
Hewlett Packard Enterprise Co.		35,960		512,070


Security	Shares		Value

United States (continued)
Hilton Worldwide Holdings Inc.		3,348	$	428,778
Hologic Inc.^(a)		3,844		274,385
Home Depot Inc. (The)		15,748		4,739,203
Honeywell International Inc.		11,532		2,219,449
Horizon Therapeutics PLC^(a)		2,480		205,766
Host Hotels & Resorts Inc.		17,112		304,765
Howmet Aerospace Inc.		8,928		331,497
HP Inc.		21,824		728,703
HubSpot Inc.^(a)		620		190,960
Humana Inc.		1,984		956,288
Huntington Bancshares Inc./OH		16,244		215,883
IDEX Corp.		1,736		362,390
IDEXX Laboratories Inc.^(a)		1,116		445,485
Illinois Tool Works Inc.		5,332		1,107,776
Illumina Inc.^(a)		2,480		537,366
Incyte Corp.^(a)		3,472		269,705
Ingersoll Rand Inc.		4,960		247,008
Insulet Corp.^(a)		992		245,818
Intel Corp.		64,728		2,350,274
Intercontinental Exchange Inc.		8,060		822,039
International Business Machines Corp.		15,128		1,978,591
International Flavors & Fragrances Inc.		6,820		846,021
Interpublic Group of Companies Inc. (The)		8,928		266,679
Intuit Inc.		4,092		1,866,648
Intuitive Surgical Inc.^(a)		5,952		1,369,972
Invitation Homes Inc.		5,952		232,307
IQVIA Holdings Inc.^(a)		3,348		804,424
Iron Mountain Inc.		4,960		240,510
Jack Henry & Associates Inc.		992		206,108
Jacobs Engineering Group Inc.		1,860		255,378
Jazz Pharmaceuticals PLC^(a)		992		154,812
JM Smucker Co. (The)		1,736		229,708
Johnson & Johnson		40,548		7,076,437
Johnson Controls International PLC		13,764		742,017
JPMorgan Chase & Co.		43,052		4,966,479
Juniper Networks Inc.		9,796		274,582
Kellogg Co.		3,720		274,982
Keurig Dr Pepper Inc.		17,980		696,545
KeyCorp.		23,312		426,610
Keysight Technologies Inc.^(a)		1,860		302,436
Kimberly-Clark Corp.		3,224		424,891
Kimco Realty Corp.		8,308		183,690
Kinder Morgan Inc.		36,456		655,843
KKR & Co. Inc.		9,052		502,024
KLA Corp.		2,480		951,179
Knight-Swift Transportation Holdings Inc.		3,720		204,414
Kraft Heinz Co. (The)		14,756		543,463
Kroger Co. (The)		9,300		431,892
L3Harris Technologies Inc.		2,649		635,681
Laboratory Corp. of America Holdings		1,488		390,139
Lam Research Corp.		2,232		1,117,138
Las Vegas Sands Corp.^(a)(c)		6,572		247,699
Leidos Holdings Inc.		2,604		278,628
Lennar Corp., Class A		4,836		411,060
Lennox International Inc.		1,488		356,421
Liberty Broadband Corp., Class C ^(a)		2,604		283,654
Liberty Global PLC, Class C, NVS^(a)		15,996		366,148
Lincoln National Corp.		4,092		210,083
Live Nation Entertainment Inc.^(a)		2,976		279,714
LKQ Corp.		4,712		258,406


Security	Shares		Value

United States (continued)
Lockheed Martin Corp.		3,968	$	1,641,998
Loews Corp.		12,276		715,077
Lowe’s Companies Inc.		10,292		1,971,227
LPL Financial Holdings Inc.^(c)		1,364		286,331
Lucid Group Inc.^(a)(c)		9,548		174,251
Lululemon Athletica Inc.^(a)		2,108		654,555
M&T Bank Corp.		2,852		506,087
Markel Corp.^(a)		124		160,845
MarketAxess Holdings Inc.		620		167,884
Marriott International Inc./MD, Class A		2,728		433,261
Marsh & McLennan Companies Inc.		8,308		1,362,180
Marvell Technology Inc.		14,384		800,901
Masco Corp.		8,556		473,831
Masimo Corp.^(a)		1,612		233,063
Mastercard Inc., Class A		13,268		4,694,086
Match Group Inc.^(a)(c)		3,844		281,804
McCormick & Co. Inc./MD, NVS		5,208		454,919
McDonald’s Corp.		11,780		3,102,499
McKesson Corp.		2,480		847,118
Medical Properties Trust Inc.		9,300		160,332
Medtronic PLC		21,080		1,950,322
MercadoLibre Inc.^(a)(c)		744		605,400
Merck & Co. Inc.		40,176		3,589,324
Meta Platforms Inc, Class A^(a)		35,464		5,642,322
MetLife Inc.		10,416		658,812
Mettler-Toledo International Inc.^(a)		372		502,100
MGM Resorts International		7,564		247,570
Microchip Technology Inc.		8,680		597,705
Micron Technology Inc.		16,988		1,050,878
Microsoft Corp.		107,632		30,216,608
Mid-America Apartment Communities Inc.		1,116		207,275
Moderna Inc.^(a)		5,580		915,622
Molina Healthcare Inc.^(a)		1,002		328,375
Molson Coors Beverage Co., Class B		3,348		200,043
Mondelez International Inc., Class A		24,676		1,580,251
MongoDB Inc.^(a)(c)		868		271,224
Monolithic Power Systems Inc.		620		288,126
Monster Beverage Corp.^(a)		7,688		765,879
Moody’s Corp.		1,984		615,536
Morgan Stanley		20,336		1,714,325
Mosaic Co. (The)		10,416		548,507
Motorola Solutions Inc.		2,728		650,873
MSCI Inc.		868		417,803
NetApp Inc.		3,968		283,037
Netflix Inc.^(a)		7,564		1,701,144
Newell Brands Inc.		11,160		225,544
Newmont Corp.		6,324		286,351
NextEra Energy Inc.		23,684		2,001,061
Nike Inc., Class B		19,592		2,251,513
Nordson Corp.		744		171,857
Norfolk Southern Corp.		3,348		840,917
Northern Trust Corp.		2,356		235,082
Northrop Grumman Corp.		2,480		1,187,672
NortonLifeLock Inc.		10,168		249,421
Novocure Ltd.^(a)		1,736		118,031
Nucor Corp.		3,348		454,658
Nvidia Corp.		38,812		7,049,424
Occidental Petroleum Corp.		10,912		717,464
Okta Inc.^(a)		1,984		195,325
Old Dominion Freight Line Inc.^(c)		1,736		526,893


Security	Shares		Value

United States (continued)
Omnicom Group Inc.		3,472	$	242,484
ON Semiconductor Corp.^(a)		3,968		264,983
ONEOK Inc.		20,956		1,251,911
Oracle Corp.		25,916		2,017,301
O’Reilly Automotive Inc.^(a)		1,116		785,206
Otis Worldwide Corp.		7,564		591,278
PACCAR Inc.		4,588		419,894
Palantir Technologies Inc., Class A^(a)(c)		27,528		284,915
Palo Alto Networks Inc.^(a)(c)		1,488		742,661
Paramount Global, Class B, NVS		8,680		205,282
Parker-Hannifin Corp.		1,860		537,707
Paychex Inc.		5,952		763,523
Paycom Software Inc.^(a)		744		245,885
PayPal Holdings Inc.^(a)		16,864		1,459,242
Peloton Interactive Inc., Class A^(a)		5,828		55,308
Pentair PLC		5,332		260,681
PepsiCo Inc.		22,444		3,926,802
PerkinElmer Inc.		1,984		303,889
Pfizer Inc.		89,404		4,515,796
PG&E Corp.^(a)		23,188		251,822
Philip Morris International Inc.		26,412		2,565,926
Phillips 66		3,348		297,972
Pinterest Inc., Class A^(a)		8,556		166,671
Pioneer Natural Resources Co.		13,392		3,173,234
Plug Power Inc.^(a)(c)		10,168		216,985
PNC Financial Services Group Inc. (The)		7,192		1,193,440
Pool Corp.		744		266,129
PPG Industries Inc.		6,944		897,790
Principal Financial Group Inc.		5,704		381,826
Procter & Gamble Co. (The)		37,944		5,270,801
Progressive Corp. (The)		8,680		998,721
Prologis Inc.		12,028		1,594,432
Prudential Financial Inc.		6,820		681,932
PTC Inc.^(a)		1,984		244,786
Public Storage		2,728		890,446
PulteGroup Inc.		4,960		216,355
Qualcomm Inc.		18,228		2,644,154
Quanta Services Inc.		2,356		326,848
Quest Diagnostics Inc.		1,984		270,955
Raymond James Financial Inc.		2,356		231,995
Raytheon Technologies Corp.		25,048		2,334,724
Realty Income Corp.		6,847		506,610
Regency Centers Corp.		4,464		287,616
Regeneron Pharmaceuticals Inc.^(a)		1,736		1,009,814
Regions Financial Corp.		22,816		483,243
ResMed Inc.		2,232		536,841
Robert Half International Inc.		2,728		215,894
ROBLOX Corp., Class A^(a)(c)		7,316		314,076
Rockwell Automation Inc.		1,364		348,202
Roku Inc.^(a)(c)		2,108		138,116
Rollins Inc.^(c)		7,936		306,092
Roper Technologies Inc.		1,736		758,059
Ross Stores Inc.		4,836		392,973
S&P Global Inc.		5,712		2,153,024
Salesforce Inc.^(a)		15,128		2,783,855
SBA Communications Corp.		1,984		666,207
Schlumberger NV		33,728		1,248,948
Seagen Inc.^(a)		1,736		312,445
Sealed Air Corp.		3,968		242,524
Sempra Energy		7,192		1,192,434


Security	Shares		Value

United States (continued)
ServiceNow Inc.^(a)		2,976	$	1,329,260
Sherwin-Williams Co. (The)		4,960		1,200,022
Signature Bank/New York NY		1,116		207,096
Simon Property Group Inc.		6,324		687,039
Skyworks Solutions Inc.		1,984		216,018
Snap Inc., Class A, NVS^(a)		17,608		173,967
Snap-on Inc.		1,364		305,604
Snowflake Inc., Class A^(a)		3,472		520,488
SolarEdge Technologies Inc.^(a)(c)		868		312,593
Splunk Inc.^(a)(c)		2,108		219,042
SS&C Technologies Holdings Inc.		3,844		227,449
Stanley Black & Decker Inc.		2,976		289,654
Starbucks Corp.		19,840		1,682,035
State Street Corp.		5,208		369,976
Stryker Corp.		5,084		1,091,789
Sun Communities Inc.		1,240		203,310
SVB Financial Group^(a)		992		400,322
Synopsys Inc.^(a)		2,108		774,690
Sysco Corp.		10,044		852,736
T Rowe Price Group Inc.		3,472		428,688
Take-Two Interactive Software Inc.^(a)		2,480		329,170
Targa Resources Corp.		5,580		385,634
Target Corp.		6,944		1,134,511
Teladoc Health Inc.^(a)		3,224		118,804
Teledyne Technologies Inc.^(a)		744		291,202
Teleflex Inc.		620		149,085
Teradyne Inc.		2,976		300,249
Tesla Inc.^(a)		13,516		12,048,838
Texas Instruments Inc.		14,136		2,528,789
Textron Inc.		3,596		236,041
Thermo Fisher Scientific Inc.		6,200		3,710,142
TJX Companies Inc. (The)		18,848		1,152,744
T-Mobile U.S. Inc.^(a)		10,044		1,436,895
Tractor Supply Co.		1,488		284,922
Trade Desk Inc. (The), Class A^(a)		6,944		312,480
Tradeweb Markets Inc., Class A		2,728		192,379
TransDigm Group Inc.^(a)		620		385,851
TransUnion		3,224		255,438
Travelers Companies Inc. (The)		2,976		472,291
Trimble Inc.^(a)		4,960		344,373
Truist Financial Corp.		21,824		1,101,457
Twilio Inc., Class A^(a)		3,100		262,880
Twitter Inc.^(a)		12,152		505,645
U.S. Bancorp.		21,452		1,012,534
Uber Technologies Inc.^(a)		28,148		660,071
UDR Inc.		2,852		138,037
UGI Corp.		4,588		198,018
Ulta Beauty, Inc.^(a)		868		337,574
Union Pacific Corp.		9,672		2,198,446
United Parcel Service Inc., Class B		10,788		2,102,473
United Rentals Inc.^(a)		1,364		440,122
UnitedHealth Group Inc.		13,516		7,330,267
Vail Resorts Inc.		744		176,425
Valero Energy Corp.		6,169		683,340
Veeva Systems Inc., Class A^(a)		2,728		609,926
Ventas Inc.		5,084		273,418
VeriSign Inc.^(a)		1,364		258,014
Verisk Analytics Inc.		3,224		613,366
Verizon Communications Inc.		69,936		3,230,344
Vertex Pharmaceuticals Inc.^(a)		3,968		1,112,667


Security	Shares		Value


United States (continued)
VF Corp.		6,820	$	304,718
Viatris Inc.		28,644		277,560
VICI Properties Inc.		16,244		555,382
Visa Inc., Class A		25,296		5,365,535
VMware Inc., Class A		3,596		417,855
Vornado Realty Trust		6,448		195,955
Vulcan Materials Co.		4,092		676,530
Walgreens Boots Alliance Inc.		15,748		623,936
Walmart Inc.		23,064		3,045,601
Walt Disney Co. (The)^(a)		26,660		2,828,626
Warner Bros. Discovery Inc.^(a)		32,240		483,600
Waters Corp.^(a)		992		361,118
Webster Financial Corp.		5,828		270,711
Wells Fargo & Co.		58,404		2,562,183
Welltower Inc.		6,696		578,133
West Pharmaceutical Services Inc.		868		298,210
Western Digital Corp.^(a)		5,084		249,624
Western Union Co. (The)		12,648		215,269
Westinghouse Air Brake Technologies Corp.		4,216		394,070
Weyerhaeuser Co.		13,888		504,412
Whirlpool Corp.		1,116		192,923
Williams Companies Inc. (The)		45,508		1,551,368
Willis Towers Watson PLC		1,632		337,726
Workday Inc., Class A^(a)		1,984		307,718
WW Grainger Inc.		744		404,386
Xylem Inc./NY		4,092		376,587
Yum! Brands Inc.		5,208		638,188
Zebra Technologies Corp., Class A^(a)		744		266,121
Zendesk Inc.^(a)		1,612		121,577
Zillow Group Inc., Class C ^(a)(c)		4,092		142,729
Zimmer Biomet Holdings Inc.		3,348		369,586
Zoetis Inc.		7,564		1,380,808
Zoom Video Communications Inc., Class A^(a)		3,472		360,602
ZoomInfo Technologies Inc.^(a)		4,216		159,744


				550,280,378


Total Common Stocks — 99.2% (Cost: $899,971,212)				899,844,601


Preferred Stocks

Brazil — 0.1%
Banco Bradesco SA, Preference Shares, NVS		62,092		209,170
Cia. Energetica de Minas Gerais, Preference Shares, NVS		108,872		236,509
Gerdau SA, Preference Shares, NVS		44,268		209,272
Itau Unibanco Holding SA, Preference Shares, NVS		34,348		156,800


				811,751


Security	Shares		Value


Chile — 0.0%
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares		4,464	$	443,373


Colombia — 0.0%
Bancolombia SA, Preference Shares, NVS		34,472		254,258


Germany — 0.2%
Henkel AG & Co. KGaA, Preference Shares, NVS		7,564		483,213
Sartorius AG, Preference Shares, NVS		744		332,791
Volkswagen AG, Preference Shares, NVS		4,836		683,761


				1,499,765

South Korea — 0.1%
Samsung Electronics Co. Ltd., Preference Shares, NVS		11,532		506,827


Total Preferred Stocks — 0.4% (Cost: $3,883,302)				3,515,974


Total Long-Term Investments — 99.6% (Cost: $903,854,514)				903,360,575


Short-Term Securities

Money Market Funds — 1.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		9,662,264		9,661,298
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		1,320,000		1,320,000


Total Short-Term Securities — 1.2% (Cost: $10,979,630)				10,981,298


Total Investments in Securities — 100.8% (Cost: $914,834,144)				914,341,873

Liabilities in Excess of Other Assets — (0.8)%				(7,028,819	)


Net Assets — 100.0%			$	907,313,054

^(a)	Non-income producing security.

^(b)	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.

^(c)	All or a portion of this security is on loan.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

China — 35.4%
360 DigiTech Inc.^(a)		51,906	$	753,675
360 Security Technology Inc., Class A		295,200		323,336
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A		100,049		290,229
3SBio Inc.^(b)		738,000		491,232
AAC Technologies Holdings Inc.^(a)		369,000		715,428
AECC Aviation Power Co. Ltd., Class A		99,491		734,395
Agricultural Bank of China Ltd., Class A		3,075,000		1,298,835
Agricultural Bank of China Ltd., Class H		16,728,000		5,517,263
Aier Eye Hospital Group Co. Ltd., Class A		256,164		1,155,328
Air China Ltd., Class A^(c)		319,919		458,029
Air China Ltd., Class H^(c)		988,000		775,466
Alibaba Group Holding Ltd.^(c)		8,733,040		98,189,660
Alibaba Health Information Technology Ltd.^(c)		2,460,000		1,477,225
A-Living Smart City Services Co. Ltd., Class A^(b)		308,000		375,687
Aluminum Corp. of China Ltd., Class A^(c)		516,699		358,472
Aluminum Corp. of China Ltd., Class H		2,460,000		900,979
Angel Yeast Co. Ltd., Class A		26,298		173,062
Anhui Conch Cement Co. Ltd., Class A		172,280		829,982
Anhui Conch Cement Co. Ltd., Class H		705,000		2,789,458
Anhui Gujing Distillery Co. Ltd., Class A		26,235		830,357
Anhui Gujing Distillery Co. Ltd., Class B		49,200		752,305
Anhui Kouzi Distillery Co. Ltd., Class A		24,600		182,681
ANTA Sports Products Ltd.^(a)		653,600		7,196,694
Autohome Inc., ADR		43,788		1,562,794
AVIC Electromechanical Systems Co. Ltd., Class A		173,699		304,489
AVIC Industry-Finance Holdings Co. Ltd., Class A		541,200		261,651
AviChina Industry & Technology Co. Ltd., Class H		1,476,000		787,514
Baidu Inc.^(c)		673,360		11,638,622
Baidu Inc., ADR^(c)		85,670		11,699,952
Bank of Beijing Co. Ltd., Class A		934,800		577,830
Bank of Chengdu Co. Ltd., Class A		196,800		449,669
Bank of China Ltd., Class A		1,107,000		502,007
Bank of China Ltd., Class H		46,002,000		16,357,629
Bank of Communications Co. Ltd., Class A		1,500,686		1,027,648
Bank of Communications Co. Ltd., Class H		4,920,100		2,928,508
Bank of Hangzhou Co. Ltd., Class A		246,060		521,744
Bank of Jiangsu Co. Ltd., Class A		664,200		709,340
Bank of Nanjing Co. Ltd., Class A		421,200		645,460
Bank of Ningbo Co. Ltd., Class A		270,625		1,253,066
Bank of Shanghai Co. Ltd., Class A		664,241		586,916
Baoshan Iron & Steel Co. Ltd., Class A		836,495		704,141
BBMG Corp., Class A		696,094		271,312
BeiGene Ltd., ADR^(a)(c)		26,566		4,465,213
Beijing Capital International Airport Co. Ltd., Class H^(c)		984,000		578,448
Beijing Dabeinong Technology Group Co. Ltd., Class A^(c)		187,900		202,174
Beijing Enlight Media Co. Ltd., Class A		123,000		152,441
Beijing Enterprises Holdings Ltd.		246,000		788,425
Beijing Enterprises Water Group Ltd.		2,620,000		794,333
Beijing New Building Materials PLC, Class A		74,426		317,547
Beijing Originwater Technology Co. Ltd., Class A		246,000		202,911
Beijing Shiji Information Technology Co. Ltd., Class A		103,628		218,418
Beijing Shunxin Agriculture Co. Ltd., Class A		24,600		85,659
Beijing Sinnet Technology Co. Ltd., Class A		75,499		107,491
Beijing Tiantan Biological Products Corp. Ltd., Class A		72,064		213,800
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A		24,695		495,041


Security	Shares		Value

China (continued)
Beijing-Shanghai High Speed Railway Co. Ltd., Class A		1,402,200	$	965,776
Betta Pharmaceuticals Co. Ltd., Class A		24,600		182,525
BGI Genomics Co. Ltd., Class A		24,690		226,905
Bilibili Inc., ADR^(c)		95,223		2,327,250
Bilibili Inc., Class Z^(c)		7,225		176,602
BOE Technology Group Co. Ltd., Class A		1,426,800		822,799
Bosideng International Holdings Ltd.		1,968,000		1,148,621
BYD Co. Ltd., Class A		73,850		3,522,299
BYD Co. Ltd., Class H		492,000		18,000,298
BYD Electronic International Co. Ltd.^(a)		369,000		948,033
By-health Co. Ltd., Class A		73,800		202,192
Caitong Securities Co. Ltd., Class A		257,208		277,924
CanSino Biologics Inc., Class H^(b)		49,200		411,817
CGN Power Co. Ltd., Class H^(b)		6,404,000		1,476,656
Changchun High & New Technology Industry Group Inc., Class A		24,600		707,900
Changjiang Securities Co. Ltd., Class A		394,400		317,956
Chaozhou Three-Circle Group Co. Ltd., Class A		75,497		300,551
China Cinda Asset Management Co. Ltd., Class H		5,166,000		711,623
China CITIC Bank Corp. Ltd., Class H		5,166,200		2,159,369
China Coal Energy Co. Ltd., Class H		1,230,000		956,850
China Communications Services Corp. Ltd., Class H		1,476,000		600,092
China Conch Venture Holdings Ltd.		984,000		1,907,668
China Construction Bank Corp., Class A		344,400		284,357
China Construction Bank Corp., Class H		55,350,390		35,347,322
China CSSC Holdings Ltd., Class A		172,400		596,696
China Eastern Airlines Corp. Ltd., Class A^(c)		418,295		303,962
China Energy Engineering Corp. Ltd., Class A^(c)		1,131,600		384,392
China Everbright Bank Co. Ltd., Class A		1,549,800		666,360
China Everbright Bank Co. Ltd., Class H		1,722,000		522,256
China Everbright Environment Group Ltd.		2,214,370		1,178,580
China Evergrande Group^(d)		2,502,000		364,305
China Feihe Ltd.^(b)		1,970,000		1,729,807
China Galaxy Securities Co. Ltd., Class A		162,551		209,651
China Galaxy Securities Co. Ltd., Class H		2,091,000		1,034,058
China Gas Holdings Ltd.		1,722,000		2,646,964
China Greatwall Technology Group Co. Ltd., Class A		123,000		176,375
China Hongqiao Group Ltd.^(a)		1,353,000		1,409,927
China International Capital Corp. Ltd., Class H^(b)		984,000		1,809,306
China Jinmao Holdings Group Ltd.^(c)		3,444,000		799,237
China Jushi Co. Ltd., Class A		164,371		364,234
China Lesso Group Holdings Ltd.		738,000		904,464
China Life Insurance Co. Ltd., Class A		123,790		511,716
China Life Insurance Co. Ltd., Class H		4,180,000		6,225,775
China Literature Ltd.^(b)(c)		246,000		969,506
China Longyuan Power Group Corp. Ltd., Class H		2,024,000		3,251,677
China Medical System Holdings Ltd.		738,000		1,173,203
China Meidong Auto Holdings Ltd.		492,000		1,195,680
China Mengniu Dairy Co. Ltd.		1,722,000		8,000,400
China Merchants Bank Co. Ltd., Class A		762,604		3,967,129
China Merchants Bank Co. Ltd., Class H		2,215,446		11,970,715
China Merchants Port Holdings Co. Ltd.		990,180		1,597,010
China Merchants Securities Co. Ltd., Class A		295,265		608,689
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		271,460		551,206
China Minsheng Banking Corp. Ltd., Class A		1,476,098		796,280
China Minsheng Banking Corp. Ltd., Class H		2,952,020		962,788
China National Building Material Co. Ltd., Class H		1,968,000		1,975,329
China National Chemical Engineering Co. Ltd., Class A		270,656		432,412
China National Nuclear Power Co. Ltd., Class A		664,200		607,774


Security	Shares		Value

China (continued)
China Northern Rare Earth Group High-Tech Co. Ltd., Class A		147,600	$	687,485
China Oilfield Services Ltd., Class H		1,132,000		1,042,771
China Overseas Land & Investment Ltd.		2,215,260		6,121,692
China Overseas Property Holdings Ltd.		1,230,000		1,285,523
China Pacific Insurance Group Co. Ltd., Class A		270,698		811,065
China Pacific Insurance Group Co. Ltd., Class H		1,476,000		3,152,771
China Petroleum & Chemical Corp., Class A		1,328,492		810,866
China Petroleum & Chemical Corp., Class H		14,268,000		6,726,737
China Power International Development Ltd.		3,195,000		1,809,898
China Railway Group Ltd., Class A		861,000		737,474
China Railway Group Ltd., Class H		2,214,000		1,317,982
China Resources Beer Holdings Co. Ltd.		988,000		6,814,939
China Resources Cement Holdings Ltd.		1,476,000		907,887
China Resources Gas Group Ltd.		492,000		2,064,644
China Resources Land Ltd.		1,969,555		8,225,411
China Resources Mixc Lifestyle Services Ltd.^(b)		393,600		1,667,599
China Resources Power Holdings Co. Ltd.		984,000		1,852,618
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A		49,273		264,690
China Ruyi Holdings Ltd.^(a)(c)		2,952,000		854,446
China Shenhua Energy Co. Ltd., Class A		246,018		1,024,245
China Shenhua Energy Co. Ltd., Class H		1,969,000		5,565,062
China Southern Airlines Co. Ltd., Class A^(c)		467,400		443,718
China Southern Airlines Co. Ltd., Class H^(c)		984,000		532,907
China State Construction Engineering Corp. Ltd., Class A		1,500,600		1,120,353
China State Construction International Holdings Ltd.		984,000		1,020,323
China Suntien Green Energy Corp. Ltd., Class H^(a)		1,016,000		498,347
China Taiping Insurance Holdings Co. Ltd.		836,590		882,164
China Three Gorges Renewables Group Co. Ltd., Class A		1,057,800		984,998
China Tourism Group Duty Free Corp. Ltd., Class A		74,898		2,334,519
China Tower Corp. Ltd., Class H^(b)		23,124,000		2,974,963
China Traditional Chinese Medicine Holdings Co. Ltd.		1,486,000		630,835
China United Network Communications Ltd., Class A		1,196,000		609,837
China Vanke Co. Ltd., Class A		393,607		1,002,681
China Vanke Co. Ltd., Class H		910,284		1,731,430
China Yangtze Power Co. Ltd., Class A		811,848		2,874,603
China Zheshang Bank Co. Ltd., Class A^(c)		1,033,200		496,138
Chinasoft International Ltd.		1,476,000		1,263,621
Chongqing Brewery Co. Ltd., Class A		26,296		478,900
Chongqing Changan Automobile Co. Ltd., Class A		319,978		872,411
Chongqing Fuling Zhacai Group Co. Ltd., Class A		49,200		217,465
Chongqing Zhifei Biological Products Co. Ltd., Class A		49,200		725,493
CIFI Ever Sunshine Services Group Ltd.^(a)		494,000		356,185
CIFI Holdings Group Co. Ltd.		2,158,720		586,291
CITIC Ltd.		3,444,000		3,724,972
CITIC Securities Co. Ltd., Class A		393,602		1,145,415
CITIC Securities Co. Ltd., Class H		1,230,025		2,529,158
CMOC Group Ltd., Class A		959,400		766,838
CMOC Group Ltd., Class H^(a)		1,476,000		724,624
Contemporary Amperex Technology Co. Ltd., Class A^(c)		88,999		6,748,112
COSCO SHIPPING Holdings Co. Ltd., Class A		467,612		951,889
COSCO SHIPPING Holdings Co. Ltd., Class H		1,845,399		2,768,619
COSCO SHIPPING Ports Ltd.^(a)		984,000		734,577
Country Garden Holdings Co. Ltd.^(a)		4,428,838		1,712,717
Country Garden Services Holdings Co. Ltd.		1,230,000		2,742,955
CRRC Corp. Ltd., Class A		936,000		714,969
CRRC Corp. Ltd., Class H		2,717,000		1,010,525


Security	Shares		Value

China (continued)
CSC Financial Co. Ltd., Class A		172,299	$	665,351
CSPC Pharmaceutical Group Ltd.		5,413,440		5,927,470
Dali Foods Group Co. Ltd.^(b)		1,107,000		527,081
Daqin Railway Co. Ltd., Class A		516,600		463,177
Daqo New Energy Corp., ADR^(c)		33,948		2,196,436
DaShenLin Pharmaceutical Group Co. Ltd., Class A		30,000		143,274
DHC Software Co. Ltd., Class A		172,200		157,977
Dong-E-E-Jiao Co. Ltd., Class A		24,600		130,563
Dongfang Electric Corp. Ltd., Class A		147,488		379,206
Dongfeng Motor Group Co. Ltd., Class H		1,476,000		1,019,908
Dongxing Securities Co. Ltd., Class A		197,698		240,681
Dongyue Group Ltd.		1,016,000		1,105,039
East Money Information Co. Ltd., Class A		492,012		1,626,201
Ecovacs Robotics Co. Ltd., Class A		24,600		337,960
ENN Energy Holdings Ltd.		467,600		7,627,767
Eve Energy Co. Ltd., Class A		73,816		1,034,921
Everbright Securities Co. Ltd., Class A		148,693		334,220
Fangda Carbon New Material Co. Ltd., Class A^(c)		199,175		208,854
Far East Horizon Ltd.^(a)		984,000		811,050
Fiberhome Telecommunication Technologies Co. Ltd., Class A		73,899		158,285
First Capital Securities Co. Ltd., Class A		221,400		200,554
Flat Glass Group Co. Ltd., Class A^(c)		73,800		450,301
Flat Glass Group Co. Ltd., Class H^(c)		246,000		891,665
Focus Media Information Technology Co. Ltd., Class A		564,840		495,264
Foshan Haitian Flavouring & Food Co. Ltd., Class A		136,244		1,670,590
Fosun International Ltd.		1,476,000		1,162,887
Founder Securities Co. Ltd., Class A		418,342		407,663
Foxconn Industrial Internet Co. Ltd., Class A		319,800		476,594
Fujian Sunner Development Co. Ltd., Class A		49,200		144,315
Fuyao Glass Industry Group Co. Ltd., Class A		49,299		299,562
Fuyao Glass Industry Group Co. Ltd., Class H^(a)(b)		393,600		1,909,341
Ganfeng Lithium Co. Ltd., Class A		72,057		953,682
Ganfeng Lithium Co. Ltd., Class H^(b)		207,120		1,872,834
GCL System Integration Technology Co. Ltd., Class A^(c)		269,600		176,700
GDS Holdings Ltd., ADR^(a)(c)		53,180		1,472,022
Geely Automobile Holdings Ltd.^(a)		3,442,000		6,825,120
Gemdale Corp., Class A		172,246		299,073
Genscript Biotech Corp.^(c)		852,000		3,084,786
GF Securities Co. Ltd., Class A		295,400		698,413
GF Securities Co. Ltd., Class H		492,000		651,302
Giant Network Group Co. Ltd., Class A		98,419		122,391
Gigadevice Semiconductor Beijing Inc., Class A		24,735		435,136
GoerTek Inc., Class A		123,297		581,798
Gotion High-tech Co. Ltd., Class A		73,800		428,194
Great Wall Motor Co. Ltd., Class A		74,000		378,922
Great Wall Motor Co. Ltd., Class H		1,845,000		2,924,905
Gree Electric Appliances Inc. of Zhuhai, Class A		98,400		485,328
Greentown China Holdings Ltd.		492,000		972,517
Greentown Service Group Co. Ltd.		984,000		880,735
GRG Banking Equipment Co. Ltd., Class A		123,060		167,769
Guangdong Haid Group Co. Ltd., Class A		73,899		719,550
Guangdong Investment Ltd.		1,476,000		1,437,809
Guangdong Kinlong Hardware Products Co. Ltd., Class A		18,700		223,093
Guanghui Energy Co. Ltd., Class A		318,800		460,708
Guangzhou Automobile Group Co. Ltd., Class A		172,200		380,730
Guangzhou Automobile Group Co. Ltd., Class H		1,968,397		1,847,639
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A		73,800		315,162


Security	Shares		Value

China (continued)
Guangzhou Haige Communications Group Inc. Co., Class A		172,211	$	228,407
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A		26,298		271,252
Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A		25,658		258,712
Guangzhou Tinci Materials Technology Co. Ltd., Class A.		98,400		764,765
Guosen Securities Co. Ltd., Class A		319,800		436,767
Guotai Junan Securities Co. Ltd., Class A		369,000		791,464
Guoyuan Securities Co. Ltd., Class A		246,030		235,882
H World Group Ltd., ADR		106,778		4,094,936
Haidilao International Holding Ltd.^(a)(b)(c)		738,000		1,474,509
Haier Smart Home Co. Ltd., Class A		295,200		1,085,430
Haier Smart Home Co. Ltd., Class H		1,230,400		3,937,905
Haitian International Holdings Ltd.		495,000		1,184,595
Haitong Securities Co. Ltd., Class A		590,400		818,318
Haitong Securities Co. Ltd., Class H		1,078,400		722,259
Hangzhou First Applied Material Co. Ltd., Class A		70,274		728,367
Hangzhou Robam Appliances Co. Ltd., Class A		49,383		207,184
Hangzhou Silan Microelectronics Co. Ltd., Class A		49,200		304,167
Hangzhou Tigermed Consulting Co. Ltd., Class A		25,690		388,790
Hangzhou Tigermed Consulting Co. Ltd., Class H^(b)		49,400		513,097
Hansoh Pharmaceutical Group Co. Ltd.^(b)		828,000		1,613,849
Henan Shuanghui Investment & Development Co. Ltd., Class A		123,098		489,641
Hengan International Group Co. Ltd.		369,000		1,786,039
Hengli Petrochemical Co. Ltd., Class A		221,699		663,810
Hengyi Petrochemical Co. Ltd., Class A		221,400		307,134
Hesteel Co. Ltd., Class A		787,200		325,925
Hithink RoyalFlush Information Network Co. Ltd., Class A		24,688		315,417
Hongfa Technology Co. Ltd., Class A		34,840		212,191
Hopson Development Holdings Ltd.		460,808		609,049
Hoshine Silicon Industry Co. Ltd., Class A		25,900		377,180
Hua Hong Semiconductor Ltd.^(b)(c)		246,000		736,818
Huadian Power International Corp. Ltd., Class A		344,400		220,698
Huadong Medicine Co. Ltd., Class A		73,887		493,401
Hualan Biological Engineering Inc., Class A		65,880		195,600
Huaneng Power International Inc., Class A^(c)		467,400		486,920
Huaneng Power International Inc., Class H^(c)		1,972,000		942,836
Huatai Securities Co. Ltd., Class A		319,800		629,470
Huatai Securities Co. Ltd., Class H^(b)		785,200		1,035,766
Huaxi Securities Co. Ltd., Class A		196,800		217,092
Huaxia Bank Co. Ltd., Class A		688,899		522,811
Huaxin Cement Co. Ltd., Class A		73,800		196,383
Huayu Automotive Systems Co. Ltd., Class A		123,200		400,414
Huizhou Desay Sv Automotive Co. Ltd., Class A		24,600		713,234
Hundsun Technologies Inc., Class A		49,212		309,990
Hutchmed China Ltd., ADR^(a)(c)		48,462		633,398
Hygeia Healthcare Holdings Co. Ltd.^(b)		203,200		1,168,506
Iflytek Co. Ltd., Class A		99,200		618,880
Imeik Technology Development Co. Ltd., Class A		8,200		713,124
Industrial & Commercial Bank of China Ltd., Class A		2,238,600		1,453,011
Industrial & Commercial Bank of China Ltd., Class H		32,472,350		17,167,730
Industrial Bank Co. Ltd., Class A		836,425		2,204,942
Industrial Securities Co. Ltd., Class A		319,959		306,719
Ingenic Semiconductor Co. Ltd., Class A		25,900		342,431
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A		1,771,296		593,946
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A		394,100		265,788


Security	Shares		Value

China (continued)
Inner Mongolia Yili Industrial Group Co. Ltd., Class A		246,091	$	1,306,465
Inner Mongolia Yitai Coal Co. Ltd., Class B		615,000		969,714
Innovent Biologics Inc.^(b)(c)		615,000		2,570,731
Inspur Electronic Information Industry Co. Ltd., Class A		73,848		266,018
iQIYI Inc., ADR^(a)(c)		193,110		737,680
JA Solar Technology Co. Ltd., Class A		98,480		1,135,028
Jafron Biomedical Co. Ltd., Class A		24,920		163,606
Jason Furniture Hangzhou Co. Ltd., Class A		32,280		221,086
JD Health International Inc.^(b)(c)		639,600		4,851,384
JD.com Inc., Class A		1,156,232		34,493,343
Jiangsu Eastern Shenghong Co. Ltd., Class A		172,200		503,998
Jiangsu Expressway Co. Ltd., Class H		986,000		860,445
Jiangsu Hengli Hydraulic Co. Ltd., Class A		49,265		380,627
Jiangsu Hengrui Medicine Co. Ltd., Class A		242,910		1,271,471
Jiangsu King’s Luck Brewery JSC Ltd., Class A		49,200		319,236
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A		49,200		1,205,197
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A		49,200		196,495
Jiangsu Zhongtian Technology Co. Ltd., Class A^(c)		123,200		420,824
Jiangxi Copper Co. Ltd., Class A		98,400		246,311
Jiangxi Copper Co. Ltd., Class H		738,000		904,051
Jiangxi Zhengbang Technology Co. Ltd., Class A^(c)		147,600		132,942
Jinke Properties Group Co. Ltd., Class A^(c)		221,400		85,988
Jinxin Fertility Group Ltd.^(b)		738,000		573,423
Jiumaojiu International Holdings Ltd.^(b)		492,000		1,070,533
Joincare Pharmaceutical Group Industry Co. Ltd., Class A		123,000		201,097
Jointown Pharmaceutical Group Co. Ltd., Class A		98,400		165,340
Jonjee Hi-Tech Industrial And Commercial Holding Co. Ltd., Class A		24,686		127,033
JOYY Inc., ADR		32,484		841,011
Juewei Food Co. Ltd., Class A		24,600		190,648
Kanzhun Ltd., ADR^(c)		49,582		1,165,673
KE Holdings Inc., ADR^(a)(c)		182,040		2,568,584
Kingboard Holdings Ltd.		369,000		1,079,586
Kingdee International Software Group Co. Ltd.^(a)(c)		1,476,000		3,186,864
Kingsoft Corp. Ltd.		541,600		1,808,380
Kuaishou Technology^(b)(c)		1,008,600		10,140,911
Kunlun Energy Co. Ltd.		2,466,000		1,815,388
Kweichow Moutai Co. Ltd., Class A		45,872		12,897,307
LB Group Co. Ltd., Class A		98,400		297,013
Legend Biotech Corp., ADR^(c)		26,568		1,255,072
Lenovo Group Ltd.		4,428,000		4,294,251
Lens Technology Co. Ltd., Class A		196,886		318,411
Lepu Medical Technology Beijing Co. Ltd., Class A		73,800		196,055
Li Auto Inc., ADR^(c)		316,848		10,405,288
Li Ning Co. Ltd.		1,358,500		11,019,651
Lingyi iTech Guangdong Co., Class A^(c)		369,000		281,446
Livzon Pharmaceutical Group Inc., Class A		49,201		231,501
Logan Group Co. Ltd.^(a)(d)		780,000		149,046
Longfor Group Holdings Ltd.^(b)		1,107,000		3,698,893
LONGi Green Energy Technology Co. Ltd., Class A		275,828		2,521,903
Lufax Holding Ltd., ADR		485,358		2,222,940
Luxshare Precision Industry Co. Ltd., Class A		246,230		1,239,309
Luzhou Laojiao Co. Ltd., Class A		49,200		1,620,900
Mango Excellent Media Co. Ltd., Class A		74,550		347,138
Maxscend Microelectronics Co. Ltd., Class A		30,264		432,203
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A^(c)		172,287		129,351
Meituan, Class B^(b)(c)		2,361,600		52,978,597


Security	Shares		Value

China (continued)
Metallurgical Corp. of China Ltd., Class A		861,008	$	415,703
Microport Scientific Corp.^(a)(c)		393,600		928,044
Ming Yuan Cloud Group Holdings Ltd.		246,000		225,846
Minth Group Ltd.		492,000		1,315,233
MMG Ltd.^(a)(c)		1,968,000		582,138
Montage Technology Co. Ltd., Class A		49,200		417,852
Muyuan Foods Co. Ltd., Class A		197,036		1,744,103
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd., Class A		63,001		174,552
Nanjing Securities Co. Ltd., Class A		196,800		233,090
NARI Technology Co. Ltd., Class A		266,756		1,155,064
NAURA Technology Group Co. Ltd., Class A		24,600		927,471
NavInfo Co. Ltd., Class A		98,400		203,902
NetEase Inc.		1,205,470		22,550,437
New China Life Insurance Co. Ltd., Class A		98,499		423,797
New China Life Insurance Co. Ltd., Class H		442,800		1,055,204
New Hope Liuhe Co. Ltd., Class A^(c)		172,272		406,578
New Oriental Education & Technology Group Inc.^(c)		963,480		2,641,234
Ninestar Corp., Class A		74,300		553,068
Ningbo Joyson Electronic Corp., Class A^(c)		49,200		157,576
Ningbo Tuopu Group Co. Ltd., Class A		51,800		710,704
Ningxia Baofeng Energy Group Co. Ltd., Class A		246,000		490,987
NIO Inc., ADR^(a)(c)		758,418		14,963,587
Nongfu Spring Co. Ltd., Class H^(b)		1,033,600		6,194,558
Offshore Oil Engineering Co. Ltd., Class A		173,000		108,341
OFILM Group Co. Ltd., Class A^(c)		147,623		132,493
Oppein Home Group Inc., Class A		24,600		438,964
Orient Securities Co. Ltd., Class A		330,813		424,896
Ovctek China Inc., Class A		24,680		174,687
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A^(c)		492,000		540,419
People’s Insurance Co. Group of China Ltd. (The), Class H		5,166,000		1,546,735
Perfect World Co. Ltd., Class A		74,489		164,462
PetroChina Co. Ltd., Class A		762,600		589,885
PetroChina Co. Ltd., Class H		12,300,000		5,743,601
Pharmaron Beijing Co. Ltd., Class A		37,500		430,518
Pharmaron Beijing Co. Ltd., Class H^(b)		112,200		912,810
PICC Property & Casualty Co. Ltd., Class H		3,937,814		4,042,133
Pinduoduo Inc., ADR^(a)(c)		253,626		12,430,210
Ping An Bank Co. Ltd., Class A		713,638		1,342,715
Ping An Healthcare and Technology Co. Ltd.^(a)(b)(c)		270,600		706,752
Ping An Insurance Group Co. of China Ltd., Class A		418,299		2,612,823
Ping An Insurance Group Co. of China Ltd., Class H		3,567,000		20,963,397
Poly Developments and Holdings Group Co. Ltd., Class A		442,895		1,093,151
Pop Mart International Group Ltd.^(b)		295,200		674,970
Postal Savings Bank of China Co. Ltd., Class A		984,000		684,382
Postal Savings Bank of China Co. Ltd., Class H^(a)(b)		4,676,000		3,093,755
Power Construction Corp. of China Ltd., Class A		565,800		608,403
RLX Technology Inc., ADR^(a)(c)		285,852		463,080
Rongsheng Petrochemical Co. Ltd., Class A		369,268		783,004
SAIC Motor Corp. Ltd., Class A		319,898		768,889
Sangfor Technologies Inc., Class A		24,600		351,746
Sany Heavy Equipment International Holdings Co. Ltd.^(a)		738,000		803,090
Sany Heavy Industry Co. Ltd., Class A		319,899		807,883
Satellite Chemical Co. Ltd., Class A		108,994		366,200
SDIC Power Holdings Co. Ltd., Class A		319,800		489,706
Sealand Securities Co. Ltd., Class A		344,410		177,278


Security	Shares		Value

China (continued)
Seazen Group Ltd.^(c)		984,000	$	337,219
Seazen Holdings Co. Ltd., Class A^(c)		73,824		228,944
SF Holding Co. Ltd., Class A		172,295		1,273,639
Shaanxi Coal Industry Co. Ltd., Class A		393,699		1,114,375
Shandong Buchang Pharmaceuticals Co. Ltd., Class A		98,400		276,336
Shandong Gold Mining Co. Ltd., Class A		196,880		533,607
Shandong Gold Mining Co. Ltd., Class H^(a)(b)		307,500		535,443
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A		98,420		416,668
Shandong Linglong Tyre Co. Ltd., Class A		49,400		210,502
Shandong Nanshan Aluminum Co. Ltd., Class A		565,800		293,949
Shandong Sun Paper Industry JSC Ltd., Class A		123,000		214,144
Shandong Weigao Group Medical Polymer Co. Ltd., Class H		1,475,200		1,845,269
Shanghai Bairun Investment Holding Group Co. Ltd., Class A		53,768		215,409
Shanghai Baosight Software Co. Ltd., Class A		64,664		385,698
Shanghai Baosight Software Co. Ltd., Class B		319,903		1,073,131
Shanghai Construction Group Co. Ltd., Class A		467,400		202,910
Shanghai Electric Group Co. Ltd., Class A		615,000		405,574
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A		98,400		639,706
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H		246,000		891,490
Shanghai International Airport Co. Ltd., Class A^(c)		49,200		376,272
Shanghai International Port Group Co. Ltd., Class A		442,800		359,924
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B		688,875		605,810
Shanghai M&G Stationery Inc., Class A		49,200		330,981
Shanghai Pharmaceuticals Holding Co. Ltd., Class A		123,000		313,221
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		369,000		555,682
Shanghai Pudong Development Bank Co. Ltd., Class A		1,082,495		1,164,936
Shanghai Putailai New Energy Technology Co. Ltd., Class A		51,800		543,918
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A		147,600		182,623
Shanghai Zhangjiang High-Tech Park Development Co. Ltd., Class A		123,171		212,352
Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A		147,600		301,144
Shanxi Meijin Energy Co. Ltd., Class A		172,200		290,568
Shanxi Securities Co. Ltd., Class A		221,440		179,177
Shanxi Taigang Stainless Steel Co. Ltd., Class A		269,600		198,065
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A		49,280		2,001,375
Shengyi Technology Co. Ltd., Class A		98,400		231,918
Shennan Circuits Co. Ltd., Class A		24,620		316,551
Shenwan Hongyuan Group Co. Ltd., Class A		1,008,697		618,138
Shenzhen Energy Group Co. Ltd., Class A		196,886		186,733
Shenzhen Inovance Technology Co. Ltd., Class A		98,400		964,454
Shenzhen International Holdings Ltd.		615,000		566,471
Shenzhen Kangtai Biological Products Co. Ltd., Class A .		40,200		198,897
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		49,475		2,125,169
Shenzhen Overseas Chinese Town Co. Ltd., Class A		344,400		285,371
Shenzhen Transsion Holding Co. Ltd., Class A		25,195		265,162
Shenzhou International Group Holdings Ltd.		467,400		4,916,188
Shimao Group Holdings Ltd.^(d)		834,000		239,048
Sichuan Chuantou Energy Co. Ltd., Class A		196,800		363,781
Sichuan Kelun Pharmaceutical Co. Ltd., Class A		98,400		321,183
Sichuan Swellfun Co. Ltd., Class A		24,600		260,400
Sino Biopharmaceutical Ltd.		5,658,250		3,280,330


Security	Shares		Value

China (continued)
Sinolink Securities Co. Ltd., Class A		147,600	$	185,999
Sinopec Shanghai Petrochemical Co. Ltd., Class A		221,400		100,600
Sinopharm Group Co. Ltd., Class H		787,200		1,803,622
Sinotruk Hong Kong Ltd.		368,000		434,834
Smoore International Holdings Ltd.^(a)(b)		984,000		2,272,473
Songcheng Performance Development Co. Ltd., Class A		134,120		254,580
SooChow Securities Co. Ltd., Class A		230,357		225,565
Southwest Securities Co. Ltd., Class A		492,000		278,810
Sunac China Holdings Ltd.^(a)(d)		1,668,000		424,974
Sungrow Power Supply Co. Ltd., Class A		49,200		904,795
Sunny Optical Technology Group Co. Ltd.		418,000		5,654,954
Sunwoda Electronic Co. Ltd., Class A		75,499		321,914
Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A		73,600		291,672
TAL Education Group, ADR^(a)(c)		248,758		1,223,889
TBEA Co. Ltd., Class A		172,297		638,600
TCL Technology Group Corp., Class A		615,000		405,053
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A		124,699		940,846
Tencent Holdings Ltd.		3,591,600		138,811,071
Tencent Music Entertainment Group, ADR^(c)		389,550		1,640,006
Thunder Software Technology Co. Ltd., Class A		24,600		519,641
Tianma Microelectronics Co. Ltd., Class A		196,889		284,004
Tianshui Huatian Technology Co. Ltd., Class A		147,400		193,771
Tingyi Cayman Islands Holding Corp.		986,000		1,623,140
Toly Bread Co. Ltd., Class A		71,465		148,587
Tongcheng Travel Holdings Ltd.^(c)		688,800		1,316,718
Tongkun Group Co. Ltd., Class A		100,096		214,203
Tongling Nonferrous Metals Group Co. Ltd., Class A		581,400		261,634
Tongwei Co. Ltd., Class A		172,200		1,374,231
Topchoice Medical Corp., Class A^(c)		12,200		265,412
Topsports International Holdings Ltd.^(b)		984,000		820,764
Transfar Zhilian Co. Ltd., Class A		198,496		168,599
TravelSky Technology Ltd., Class H		494,000		818,722
Trina Solar Co. Ltd., Class A		83,148		1,025,758
Trip.com Group Ltd., ADR^(c)		307,992		7,940,034
Tsingtao Brewery Co. Ltd., Class A		24,600		359,442
Tsingtao Brewery Co. Ltd., Class H		380,000		3,711,873
Unigroup Guoxin Microelectronics Co. Ltd., Class A^(c)		24,600		769,464
Uni-President China Holdings Ltd.		740,000		676,924
Unisplendour Corp. Ltd., Class A		123,020		338,892
Vipshop Holdings Ltd., ADR^(c)		258,546		2,368,281
Walvax Biotechnology Co. Ltd., Class A		49,200		316,941
Wanhua Chemical Group Co. Ltd., Class A		124,699		1,548,493
Want Want China Holdings Ltd		2,950,000		2,400,827
Weibo Corp., ADR^(a)(c)		35,424		680,849
Weichai Power Co. Ltd., Class A		246,000		436,785
Weichai Power Co. Ltd., Class H		1,230,600		1,759,375
Wens Foodstuffs Group Co. Ltd., Class A^(c)		246,098		877,414
Western Securities Co. Ltd., Class A		295,299		278,778
Wharf Holdings Ltd. (The)		760,000		2,779,240
Will Semiconductor Co. Ltd. Shanghai, Class A		33,210		518,923
Wingtech Technology Co. Ltd., Class A		49,200		501,206
Winning Health Technology Group Co. Ltd., Class A		103,338		121,467
Wuchan Zhongda Group Co. Ltd., Class A		246,099		175,189
Wuhan Guide Infrared Co. Ltd., Class A		172,985		319,028
Wuliangye Yibin Co. Ltd., Class A		147,699		3,908,515
WUS Printed Circuit Kunshan Co. Ltd., Class A		98,450		176,919
WuXi AppTec Co. Ltd., Class A		100,764		1,394,031
WuXi AppTec Co. Ltd., Class H^(b)		196,874		2,384,967


Security	Shares		Value

China (continued)
Wuxi Biologics Cayman Inc., New^(b)(c)		2,092,000	$	20,024,862
XCMG Construction Machinery Co. Ltd., Class A^(c)		393,698		326,610
Xiamen C & D Inc., Class A		196,800		327,525
Xiaomi Corp., Class B^(b)(c)		8,659,200		13,619,062
Xinjiang Goldwind Science & Technology Co. Ltd., Class A		222,413		492,767
Xinjiang Goldwind Science & Technology Co. Ltd., Class H		438,058		782,590
Xinyi Solar Holdings Ltd.		2,952,000		5,014,888
XPeng Inc., ADR^(a)(c)		242,556		5,925,643
Xtep International Holdings Ltd.		738,000		1,200,190
Yadea Group Holdings Ltd.^(b)		492,000		1,061,064
Yankuang Energy Group Co. Ltd., Class A		73,800		400,818
Yankuang Energy Group Co. Ltd., Class H		984,000		3,074,813
Yantai Jereh Oilfield Services Group Co. Ltd., Class A		49,301		262,447
Yealink Network Technology Corp. Ltd., Class A		41,048		462,005
Yifeng Pharmacy Chain Co. Ltd., Class A		49,286		378,143
Yihai International Holding Ltd.^(a)		246,000		720,600
Yihai Kerry Arawana Holdings Co. Ltd., Class A^(c)		49,200		334,278
Yintai Gold Co. Ltd., Class A		164,821		265,228
Yonyou Network Technology Co. Ltd., Class A		123,290		381,739
YTO Express Group Co. Ltd., Class A		123,000		352,375
Yuexiu Property Co. Ltd.^(a)		809,600		1,011,443
Yum China Holdings Inc.		245,262		11,946,712
Yunda Holding Co. Ltd., Class A		123,020		329,996
Yunnan Baiyao Group Co. Ltd., Class A		72,475		592,601
Yunnan Energy New Material Co. Ltd., Class A		32,500		1,030,974
Zai Lab Ltd., ADR^(c)		48,216		1,954,195
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A		24,702		1,083,461
Zhaojin Mining Industry Co. Ltd., Class H^(c)		738,000		704,910
Zhejiang Century Huatong Group Co. Ltd., Class A^(c)		319,872		212,703
Zhejiang Chint Electrics Co. Ltd., Class A		98,400		535,919
Zhejiang Dahua Technology Co. Ltd., Class A		147,600		324,270
Zhejiang Dingli Machinery Co. Ltd., Class A		13,447		85,287
Zhejiang Expressway Co. Ltd., Class H		986,000		793,603
Zhejiang Huahai Pharmaceutical Co. Ltd., Class A		73,825		223,448
Zhejiang Huayou Cobalt Co. Ltd., Class A		64,800		809,932
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A		51,800		562,117
Zhejiang NHU Co. Ltd., Class A		147,812		451,574
Zhejiang Supor Co. Ltd., Class A		26,299		182,948
Zhejiang Weixing New Building Materials Co. Ltd., Class A		75,496		220,104
Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd., Class A		24,600		166,580
Zheshang Securities Co. Ltd., Class A^(c)		172,200		273,385
ZhongAn Online P&C Insurance Co. Ltd., Class H^(a)(b)(c)		418,200		1,061,900
Zhongji Innolight Co. Ltd., Class A		49,299		239,721
Zhongsheng Group Holdings Ltd.		369,000		2,112,500
Zhuzhou CRRC Times Electric Co. Ltd.		320,000		1,374,193
Zijin Mining Group Co. Ltd., Class A		688,800		912,435
Zijin Mining Group Co. Ltd., Class H		3,444,000		4,035,718
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A		390,637		355,852
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H		590,800		307,160
ZTE Corp., Class A		147,600		534,818
ZTE Corp., Class H		393,600		847,004
ZTO Express Cayman Inc., ADR		244,770		6,263,664


				1,185,287,419


Security	Shares		Value

Hong Kong — 7.7%
AIA Group Ltd.		6,986,400	$	70,189,870
Alibaba Pictures Group Ltd.^(c)		7,380,000		629,714
BOC Hong Kong Holdings Ltd.		2,213,000		8,005,117
Budweiser Brewing Co. APAC Ltd.^(b)		934,800		2,588,400
Chow Tai Fook Jewellery Group Ltd.^(a)		1,180,800		2,335,336
CK Asset Holdings Ltd.		1,107,132		7,838,193
CK Hutchison Holdings Ltd.		1,476,132		9,791,592
CK Infrastructure Holdings Ltd.		369,000		2,313,915
CLP Holdings Ltd.		984,000		8,343,896
ESR Group Ltd.^(b)(c)		1,181,200		3,071,623
Futu Holdings Ltd., ADR^(a)(c)		33,702		1,402,003
Galaxy Entertainment Group Ltd.^(a)		1,230,000		7,317,360
Hang Lung Properties Ltd.		1,230,000		2,244,128
Hang Seng Bank Ltd.		442,800		7,142,637
Henderson Land Development Co. Ltd.		738,166		2,569,663
HK Electric Investments & HK Electric Investments Ltd., Class SS		1,476,000		1,334,998
HKT Trust & HKT Ltd., Class SS		2,216,640		3,105,768
Hong Kong & China Gas Co. Ltd.		6,396,763		6,755,827
Hong Kong Exchanges & Clearing Ltd.		717,353		32,919,641
Hongkong Land Holdings Ltd.^(a)		664,200		3,452,551
Jardine Matheson Holdings Ltd.		123,000		6,496,345
Kingboard Laminates Holdings Ltd.		615,000		563,637
Link REIT		1,205,400		10,094,416
MTR Corp. Ltd.		862,000		4,564,725
New World Development Co. Ltd.		738,166		2,468,351
Nine Dragons Paper Holdings Ltd.		984,000		811,548
Orient Overseas International Ltd.		80,500		2,805,483
Power Assets Holdings Ltd.		861,000		5,637,608
Sands China Ltd.^(c)		1,377,600		3,231,216
Sino Land Co. Ltd.		1,969,200		2,925,910
SITC International Holdings Co. Ltd.		738,000		2,512,835
Sun Hung Kai Properties Ltd.		861,000		10,277,869
Swire Pacific Ltd., Class A		246,000		1,401,000
Swire Properties Ltd.		639,600		1,523,994
Techtronic Industries Co. Ltd.		794,500		8,816,265
Vinda International Holdings Ltd.		246,000		653,397
WH Group Ltd.^(b)		4,674,000		3,539,793
Wharf Real Estate Investment Co. Ltd.		984,000		4,379,988
Xinyi Glass Holdings Ltd.		984,000		1,940,776


				257,997,388

India — 15.7%
ACC Ltd.		43,542		1,228,109
Adani Enterprises Ltd.		164,574		5,354,699
Adani Green Energy Ltd.^(c)		182,040		5,017,483
Adani Ports & Special Economic Zone Ltd.		276,258		2,670,235
Adani Power Ltd.^(c)		444,916		1,774,678
Adani Total Gas Ltd.		161,130		6,374,079
Adani Transmission Ltd.^(c)		160,638		6,331,104
Ambuja Cements Ltd.		360,636		1,710,607
Apollo Hospitals Enterprise Ltd.		58,548		3,124,791
Asian Paints Ltd.		224,156		9,469,433
AU Small Finance Bank Ltd.^(b)		91,378		685,764
Aurobindo Pharma Ltd.		132,348		915,412
Avenue Supermarts Ltd.^(b)(c)		95,206		5,120,731
Axis Bank Ltd.		1,365,520		12,546,117
Bajaj Auto Ltd.		39,606		1,961,024
Bajaj Finance Ltd.		155,964		14,274,679
Bajaj Finserv Ltd.		21,894		4,180,847
Balkrishna Industries Ltd.		49,446		1,448,456


Security	Shares		Value

India (continued)
Bandhan Bank Ltd.^(b)		399,360	$	1,399,021
Berger Paints India Ltd.		151,782		1,201,544
Bharat Electronics Ltd.		721,272		2,509,042
Bharat Forge Ltd.		145,878		1,352,142
Bharat Petroleum Corp. Ltd.		467,400		1,952,980
Bharti Airtel Ltd.^(c)		1,271,328		10,901,942
Biocon Ltd.		220,472		856,854
Britannia Industries Ltd.		60,516		2,985,057
Cholamandalam Investment and Finance Co. Ltd.		248,214		2,205,110
Cipla Ltd.		278,964		3,448,482
Coal India Ltd.		838,122		2,238,936
Colgate-Palmolive India Ltd.		63,222		1,267,911
Container Corp. of India Ltd.		152,520		1,375,594
Dabur India Ltd.		339,972		2,511,351
Divi’s Laboratories Ltd.		75,030		3,639,689
DLF Ltd.		355,716		1,740,713
Dr. Reddy’s Laboratories Ltd.		66,174		3,424,116
Eicher Motors Ltd.		75,790		2,969,221
GAIL India Ltd.		909,462		1,686,038
Godrej Consumer Products Ltd.^(c)		219,924		2,374,993
Godrej Properties Ltd.^(c)		72,570		1,386,370
Grasim Industries Ltd.		155,226		3,094,598
Havells India Ltd.		148,622		2,351,684
HCL Technologies Ltd.		628,038		7,552,787
HDFC Life Insurance Co. Ltd.^(b)		518,076		3,641,449
Hero MotoCorp Ltd.		63,468		2,265,993
Hindalco Industries Ltd.		782,280		4,117,318
Hindustan Petroleum Corp. Ltd.		374,412		1,141,734
Hindustan Unilever Ltd.		476,010		15,901,990
Housing Development Finance Corp. Ltd.		992,856		29,962,224
ICICI Bank Ltd.		3,011,870		31,325,723
ICICI Lombard General Insurance Co. Ltd.^(b)		129,839		2,004,391
ICICI Prudential Life Insurance Co. Ltd.^(b)		201,630		1,413,748
Indian Oil Corp. Ltd.		1,453,860		1,340,941
Indian Railway Catering & Tourism Corp. Ltd.		145,690		1,178,481
Indraprastha Gas Ltd.		174,226		763,606
Indus Towers Ltd.		391,632		1,103,225
Info Edge India Ltd.		41,328		2,270,804
Infosys Ltd.		1,939,956		38,054,607
InterGlobe Aviation Ltd.^(b)(c)		56,826		1,347,473
ITC Ltd.		1,679,196		6,439,565
Jindal Steel & Power Ltd.		232,716		1,144,823
JSW Steel Ltd.		420,168		3,346,741
Jubilant Foodworks Ltd.		220,170		1,537,003
Kotak Mahindra Bank Ltd.		320,784		7,367,090
Larsen & Toubro Infotech Ltd.^(b)		29,766		1,786,653
Larsen & Toubro Ltd.		395,814		9,071,575
Lupin Ltd.		118,818		967,842
Mahindra & Mahindra Ltd.		510,942		7,538,952
Marico Ltd.		295,476		1,936,817
Maruti Suzuki India Ltd.		70,110		7,801,785
Mindtree Ltd.		38,868		1,683,811
Mphasis Ltd.		50,430		1,470,858
MRF Ltd.		1,230		1,303,753
Muthoot Finance Ltd.		75,276		1,016,001
Nestle India Ltd.		18,450		4,518,324
NTPC Ltd.		2,292,474		4,433,586
Oil & Natural Gas Corp. Ltd.		1,403,430		2,382,447
Page Industries Ltd.		3,200		1,978,989
Petronet LNG Ltd.		428,040		1,191,314


Security	Shares		Value

India (continued)
PI Industries Ltd.		47,232	$	1,846,948
Pidilite Industries Ltd.		92,772		2,878,003
Piramal Enterprises Ltd.		63,960		1,435,362
Power Grid Corp. of India Ltd.		1,815,726		4,917,096
Reliance Industries Ltd.		1,748,568		55,612,022
Samvardhana Motherson International Ltd.		737,016		1,189,569
SBI Cards & Payment Services Ltd.		130,626		1,553,716
SBI Life Insurance Co. Ltd.^(b)		255,102		4,178,981
Shree Cement Ltd.		6,152		1,596,747
Shriram Transport Finance Co. Ltd.		110,946		1,942,015
Siemens Ltd.		42,558		1,450,578
SRF Ltd.		89,094		2,742,882
State Bank of India		1,029,018		6,895,525
Sun Pharmaceutical Industries Ltd.		530,130		6,322,972
Tata Consultancy Services Ltd.		532,836		22,287,880
Tata Consumer Products Ltd.		333,576		3,425,250
Tata Elxsi Ltd.		19,434		2,142,233
Tata Motors Ltd.^(c)		963,828		5,499,308
Tata Power Co. Ltd. (The)		858,837		2,417,780
Tata Steel Ltd.		4,213,980		5,735,509
Tech Mahindra Ltd.		336,282		4,471,682
Titan Co. Ltd.		206,148		6,139,436
Torrent Pharmaceuticals Ltd.		57,494		1,111,901
Trent Ltd.		112,176		1,802,601
UltraTech Cement Ltd.		57,564		4,771,375
United Spirits Ltd.^(c)		175,890		1,733,368
UPL Ltd.		296,676		2,783,277
Vedanta Ltd.		453,378		1,460,263
Wipro Ltd.		785,478		4,191,161
Yes Bank Ltd.^(c)		6,557,130		1,240,306
Zomato Ltd.^(c)		856,572		509,138


				523,650,943

Indonesia — 2.1%
Adaro Energy Indonesia Tbk PT		8,757,600		1,922,978
Adaro Minerals Indonesia Tbk PT^(c)		5,412,000		674,809
Aneka Tambang Tbk		5,018,400		662,937
Astra International Tbk PT		11,808,000		5,043,172
Bank Central Asia Tbk PT		31,561,800		15,694,417
Bank Jago Tbk PT^(c)		2,361,600		1,687,617
Bank Mandiri Persero Tbk PT		10,799,402		6,045,054
Bank Negara Indonesia Persero Tbk PT		4,428,615		2,350,335
Bank Rakyat Indonesia Persero Tbk PT		39,212,467		11,575,238
Barito Pacific Tbk PT		17,539,800		1,065,470
Charoen Pokphand Indonesia Tbk PT		4,182,000		1,578,911
Gudang Garam Tbk PT		246,000		461,911
Indah Kiat Pulp & Paper Tbk PT		1,673,200		858,018
Indofood CBP Sukses Makmur Tbk PT		1,180,800		702,843
Indofood Sukses Makmur Tbk PT		2,361,600		1,083,149
Kalbe Farma Tbk PT		12,447,600		1,360,183
Merdeka Copper Gold Tbk PT^(c)		7,380,177		2,025,477
Sarana Menara Nusantara Tbk PT		14,095,800		1,116,944
Semen Indonesia Persero Tbk PT		1,746,600		769,630
Sumber Alfaria Trijaya Tbk PT		10,159,800		1,286,194
Telkom Indonesia Persero Tbk PT		28,290,000		8,080,191
Tower Bersama Infrastructure Tbk PT		4,870,800		1,009,839
Unilever Indonesia Tbk PT		4,305,000		1,310,867
United Tractors Tbk PT		959,443		2,096,778
Vale Indonesia Tbk PT^(c)		1,820,400		751,421


				71,214,383


Security	Shares		Value

Malaysia — 1.7%
AMMB Holdings Bhd		1,057,800	$	928,126
Axiata Group Bhd		1,722,000		1,110,484
CIMB Group Holdings Bhd		3,886,800		4,553,637
Dialog Group Bhd		2,214,062		1,100,756
DiGi.Com Bhd		1,722,000		1,406,245
Genting Bhd		1,180,800		1,256,941
Genting Malaysia Bhd		1,845,000		1,213,035
HAP Seng Consolidated Bhd		393,600		668,603
Hartalega Holdings Bhd		934,800		575,520
Hong Leong Bank Bhd		319,800		1,508,974
Hong Leong Financial Group Bhd		172,200		754,589
IHH Healthcare Bhd		1,008,600		1,450,240
Inari Amertron Bhd		2,214,000		1,430,487
IOI Corp. Bhd		1,328,400		1,202,888
Kuala Lumpur Kepong Bhd		270,600		1,332,783
Malayan Banking Bhd		2,706,800		5,391,174
Malaysia Airports Holdings Bhd^(c)		442,800		622,106
Maxis Bhd		1,303,800		1,076,140
MISC Bhd		762,600		1,236,729
MR DIY Group M Bhd^(b)		1,365,900		682,429
Nestle Malaysia Bhd		50,600		1,531,473
Petronas Chemicals Group Bhd		1,403,000		2,802,697
Petronas Dagangan Bhd		172,200		866,707
Petronas Gas Bhd		443,000		1,707,333
PPB Group Bhd		369,020		1,349,881
Press Metal Aluminium Holdings Bhd		2,041,800		2,234,497
Public Bank Bhd		8,970,050		9,358,498
QL Resources Bhd		713,400		849,572
RHB Bank Bhd		984,045		1,301,433
Sime Darby Bhd		1,722,000		907,276
Sime Darby Plantation Bhd		1,156,200		1,132,987
Telekom Malaysia Bhd		688,800		880,357
Tenaga Nasional Bhd		1,205,400		2,237,188
Top Glove Corp. Bhd^(c)		2,976,600		646,082


				57,307,867

Philippines — 0.8%
Aboitiz Equity Ventures Inc.		1,107,050		1,145,597
ACEN Corp.		5,119,604		778,522
Ayala Corp.		132,848		1,496,184
Ayala Land Inc.		3,985,200		1,828,949
Bank of the Philippine Islands		774,906		1,307,961
BDO Unibank Inc.		1,193,320		2,590,344
Converge Information and Communications Technology Solutions Inc.^(c)		1,549,800		535,462
Globe Telecom Inc.		15,990		598,279
GT Capital Holdings Inc.		59,045		486,035
International Container Terminal Services Inc.		632,320		2,227,643
JG Summit Holdings Inc.		1,811,005		1,691,688
Jollibee Foods Corp.		273,060		997,016
Manila Electric Co.		137,760		850,289
Metro Pacific Investments Corp.		9,102,200		609,485
Metropolitan Bank & Trust Co.		1,166,800		1,029,201
Monde Nissin Corp.^(b)(c)		3,493,200		903,094
PLDT Inc.		47,970		1,447,515
SM Investments Corp.		128,000		1,802,402
SM Prime Holdings Inc.		6,174,625		4,103,498
Universal Robina Corp.		526,440		1,060,140


				27,489,304


Security	Shares		Value

Singapore — 3.6%
Ascendas Real Estate Investment Trust		1,894,414	$	4,077,647
BOC Aviation Ltd.^(b)		123,200		1,048,507
CapitaLand Integrated Commercial Trust^(a)		2,878,247		4,546,824
Capitaland Investment Ltd/Singapore		1,525,200		4,339,694
City Developments Ltd.		270,600		1,520,294
DBS Group Holdings Ltd.		1,033,200		23,575,916
Genting Singapore Ltd.		3,444,000		2,011,427
Grab Holdings Ltd., Class A^(c)		610,572		1,801,187
Keppel Corp. Ltd.		856,800		4,280,729
Mapletree Commercial Trust		1,280,200		1,763,440
Mapletree Logistics Trust^(a)		1,800,961		2,298,554
Oversea-Chinese Banking Corp. Ltd.^(a)		1,943,475		16,470,363
Sea Ltd., ADR^(c)		204,918		15,639,342
Singapore Airlines Ltd.^(c)		763,000		3,018,542
Singapore Exchange Ltd.		494,000		3,541,284
Singapore Technologies Engineering Ltd.		935,200		2,726,818
Singapore Telecommunications Ltd.		4,773,200		9,026,469
United Overseas Bank Ltd.		689,000		13,746,469
UOL Group Ltd.		246,000		1,329,108
Venture Corp. Ltd.^(a)		147,600		1,880,456
Wilmar International Ltd.		1,082,400		3,154,012


				121,797,082

South Korea — 12.7%
Alteogen Inc.^(c)		19,188		967,568
Amorepacific Corp.		16,974		1,689,243
AMOREPACIFIC Group^(a)		15,498		441,018
BGF retail Co. Ltd.		4,428		616,877
Celltrion Healthcare Co. Ltd.^(a)		49,200		2,747,449
Celltrion Inc.		56,580		8,283,620
Celltrion Pharm Inc.^(a)(c)		10,140		662,166
Cheil Worldwide Inc.		44,772		786,191
CJ CheilJedang Corp.		4,920		1,482,957
CJ Corp.		9,102		559,305
CJ ENM Co. Ltd.		6,150		482,404
CJ Logistics Corp.^(c)		4,920		441,556
Coway Co. Ltd.		32,722		1,614,220
DB Insurance Co. Ltd.		28,044		1,305,173
Doosan Bobcat Inc.		31,734		762,240
Doosan Enerbility Co. Ltd.		231,978		3,365,525
Ecopro BM Co. Ltd.		30,736		2,842,239
E-MART Inc.		11,316		986,188
F&F Co. Ltd./New		10,578		1,220,991
Green Cross Corp.		3,444		459,198
GS Engineering & Construction Corp.^(a)		37,392		859,617
GS Holdings Corp.		29,766		954,132
Hana Financial Group Inc.		175,398		5,026,290
Hankook Tire & Technology Co. Ltd.		44,772		1,200,141
Hanmi Pharm Co. Ltd.^(a)		4,182		996,684
Hanon Systems		106,518		874,316
Hanwha Solutions Corp.^(a)(c)		72,324		2,443,491
HD Hyundai Co. Ltd.		30,504		1,337,583
HLB Inc.^(c)		56,580		1,834,547
HMM Co. Ltd.^(a)		156,732		3,009,311
Hotel Shilla Co. Ltd.		18,942		1,049,176
HYBE Co. Ltd.^(c)		9,840		1,336,193
Hyundai Engineering & Construction Co. Ltd.		44,772		1,455,824
Hyundai Glovis Co. Ltd.		10,824		1,519,176
Hyundai Heavy Industries Co. Ltd.^(c)		11,070		1,071,300
Hyundai Mobis Co. Ltd.		34,932		6,148,280
Hyundai Motor Co.		81,180		12,275,483


Security	Shares		Value

South Korea (continued)
Hyundai Steel Co.		51,918	$	1,365,656
Iljin Materials Co. Ltd.		16,482		936,793
Industrial Bank of Korea		150,060		1,086,031
Kakao Corp.		180,564		10,426,899
Kakao Games Corp.^(a)(c)		23,370		916,103
KakaoBank Corp.^(c)		65,436		1,560,716
Kangwon Land Inc.^(c)		58,056		1,160,467
KB Financial Group Inc.		227,550		8,463,024
Kia Corp.		152,520		9,548,878
Korea Aerospace Industries Ltd.		44,280		1,947,407
Korea Electric Power Corp.^(c)		142,680		2,457,364
Korea Investment Holdings Co. Ltd.		24,854		1,209,361
Korea Shipbuilding & Offshore Engineering Co. Ltd.^(c)		23,374		1,527,436
Korea Zinc Co. Ltd.		5,166		1,899,200
Korean Air Lines Co. Ltd.^(c)		99,384		1,941,881
Krafton Inc.^(c)		13,776		2,486,107
KT&G Corp.		61,500		3,876,285
Kumho Petrochemical Co. Ltd.		10,824		1,081,254
L&F Co. Ltd.^(c)		13,530		2,394,205
LG Chem Ltd.		28,290		13,176,194
LG Corp.		51,422		3,209,541
LG Display Co. Ltd.		134,102		1,585,396
LG Electronics Inc.		61,008		4,450,066
LG Energy Solution^(a)(c)		12,300		4,010,822
LG H&H Co. Ltd.		5,166		3,104,917
LG Innotek Co. Ltd.		8,364		2,345,095
LG Uplus Corp.		119,310		1,149,682
Lotte Chemical Corp.		10,088		1,372,546
Lotte Shopping Co. Ltd.		5,904		434,351
Meritz Financial Group Inc.		22,878		462,120
Meritz Fire & Marine Insurance Co. Ltd.		22,140		588,549
Meritz Securities Co. Ltd.		177,120		661,078
Mirae Asset Securities Co. Ltd.		159,408		810,090
NAVER Corp.		74,538		14,910,676
NCSoft Corp.		9,348		2,685,580
Netmarble Corp.^(b)		11,562		643,014
NH Investment & Securities Co. Ltd.		74,046		567,645
Orion Corp./Republic of Korea		13,776		1,066,487
Pan Ocean Co. Ltd.		164,082		714,238
Pearl Abyss Corp.^(c)		17,960		739,915
POSCO Chemical Co. Ltd.		16,236		1,647,815
POSCO Holdings Inc.		44,772		8,361,522
S-1 Corp.^(a)		9,594		470,834
Samsung Biologics Co. Ltd.^(a)(b)(c)		10,332		6,881,801
Samsung C&T Corp.		48,462		4,498,907
Samsung Electro-Mechanics Co. Ltd.		32,242		3,550,468
Samsung Electronics Co. Ltd.		2,743,392		129,858,849
Samsung Engineering Co. Ltd.^(c)		95,950		1,452,342
Samsung Fire & Marine Insurance Co. Ltd.		16,974		2,578,722
Samsung Heavy Industries Co. Ltd.^(c)		365,064		1,582,629
Samsung Life Insurance Co. Ltd.		41,820		1,954,953
Samsung SDI Co. Ltd.		31,734		13,948,665
Samsung SDS Co. Ltd.		19,192		2,013,001
Samsung Securities Co. Ltd.		36,654		988,669
SD Biosensor Inc.		24,858		773,345
Seegene Inc.		24,108		739,428
Shinhan Financial Group Co. Ltd.		255,840		7,045,631
SK Biopharmaceuticals Co. Ltd.^(c)		20,910		1,257,126
SK Bioscience Co. Ltd.^(a)(c)		13,284		1,250,333
SK Chemicals Co. Ltd.		6,890		558,575


Security	Shares		Value

South Korea (continued)
SK Hynix Inc.		315,126	$	23,822,516
SK IE Technology Co. Ltd.^(a)(b)(c)		14,022		887,655
SK Inc.		21,648		3,671,966
SK Innovation Co. Ltd.^(c)		31,488		4,561,768
SK Square Co. Ltd.^(c)		49,446		1,628,153
SK Telecom Co. Ltd.		15,006		619,379
SKC Co. Ltd.		12,792		1,344,544
S-Oil Corp.		26,076		1,858,576
Woori Financial Group Inc.		296,010		2,716,391
Yuhan Corp.		31,263		1,391,826


				423,997,130

Taiwan — 16.7%
Accton Technology Corp.		301,000		2,512,108
Acer Inc.		1,476,830		1,120,512
Advantech Co. Ltd.		246,413		2,834,803
Airtac International Group		87,109		2,387,808
ASE Technology Holding Co. Ltd.		1,722,110		5,018,300
Asia Cement Corp.		1,230,448		1,707,378
ASMedia Technology Inc.		20,000		655,813
Asustek Computer Inc.		449,100		4,236,643
AUO Corp.		4,676,580		2,099,969
Catcher Technology Co. Ltd.		495,000		2,827,157
Cathay Financial Holding Co. Ltd.		4,428,357		6,755,707
Chailease Holding Co. Ltd.		827,107		5,882,190
Chang Hwa Commercial Bank Ltd.		2,706,814		1,611,734
Cheng Shin Rubber Industry Co. Ltd.		984,303		1,168,118
China Airlines Ltd.		1,476,000		1,127,838
China Development Financial Holding Corp.		8,856,763		3,834,011
China Steel Corp.		6,890,484		6,415,498
Chunghwa Telecom Co. Ltd.		2,214,110		8,984,016
Compal Electronics Inc.		2,212,000		1,689,257
CTBC Financial Holding Co. Ltd.		9,920,456		7,621,585
Delta Electronics Inc.		1,230,000		10,697,456
E Ink Holdings Inc.		492,000		3,236,763
E.Sun Financial Holding Co. Ltd.		7,148,036		6,588,972
Eclat Textile Co. Ltd.		134,208		1,834,963
eMemory Technology Inc.		41,000		1,629,854
Eva Airways Corp.^(c)		1,476,000		1,693,567
Evergreen Marine Corp. Taiwan Ltd.		1,536,942		4,938,776
Far Eastern New Century Corp.		1,476,040		1,501,784
Far EasTone Telecommunications Co. Ltd.		984,000		2,480,932
Feng TAY Enterprise Co. Ltd.		246,340		1,380,027
First Financial Holding Co. Ltd.		5,704,345		5,152,638
Formosa Chemicals & Fibre Corp.		1,968,740		4,615,349
Formosa Petrochemical Corp.		738,000		2,086,989
Formosa Plastics Corp.		2,214,400		6,829,942
Fubon Financial Holding Co. Ltd.		3,936,156		7,393,723
Giant Manufacturing Co. Ltd.		246,000		2,012,720
Globalwafers Co. Ltd.		158,000		2,393,435
Hon Hai Precision Industry Co. Ltd.		7,134,516		26,074,840
Hotai Motor Co. Ltd.		210,000		4,253,116
Hua Nan Financial Holdings Co. Ltd.		4,674,130		3,615,981
Innolux Corp.		5,658,981		1,959,882
Inventec Corp.		1,476,460		1,172,666
Largan Precision Co. Ltd.		61,000		4,278,705
Lite-On Technology Corp.		1,230,371		2,699,670
MediaTek Inc.		909,391		20,952,440
Mega Financial Holding Co. Ltd.		6,150,827		7,286,350
Micro-Star International Co. Ltd.		246,000		973,889
momo.com Inc.		42,000		1,151,267


Security	Shares		Value

Taiwan (continued)
Nan Ya Plastics Corp.		2,706,000	$	6,098,279
Nan Ya Printed Circuit Board Corp.		137,000		1,109,940
Nanya Technology Corp.		740,000		1,300,061
Nien Made Enterprise Co. Ltd.		68,000		653,202
Novatek Microelectronics Corp.		396,000		3,527,882
Parade Technologies Ltd.		49,000		1,845,260
Pegatron Corp.		984,000		2,048,477
Pou Chen Corp.		1,230,000		1,104,400
Powerchip Semiconductor Manufacturing Corp.		1,476,000		1,749,576
President Chain Store Corp.		391,000		3,697,058
Quanta Computer Inc.		1,476,000		4,190,269
Realtek Semiconductor Corp.		246,642		2,836,318
Ruentex Development Co. Ltd.		621,851		1,142,528
Shanghai Commercial & Savings Bank Ltd. (The)		1,970,088		3,307,211
Shin Kong Financial Holding Co. Ltd.		6,890,143		1,969,541
Silergy Corp.		212,000		3,967,445
SinoPac Financial Holdings Co. Ltd.		5,952,925		3,371,621
Synnex Technology International Corp.		738,950		1,370,878
Taishin Financial Holding Co. Ltd.		5,954,627		3,134,526
Taiwan Cement Corp.		3,247,464		4,214,133
Taiwan Cooperative Financial Holding Co. Ltd.		5,660,467		5,189,721
Taiwan High Speed Rail Corp.		984,000		961,664
Taiwan Mobile Co. Ltd.		984,000		3,339,189
Taiwan Semiconductor Manufacturing Co. Ltd.		14,181,670		243,209,473
Unimicron Technology Corp.		738,000		3,937,006
Uni-President Enterprises Corp.		2,704,694		6,367,211
United Microelectronics Corp.		6,888,000		9,266,144
Vanguard International Semiconductor Corp.		494,000		1,189,818
Voltronic Power Technology Corp.		39,000		1,915,571
Walsin Lihwa Corp.		1,476,000		1,679,150
Wan Hai Lines Ltd.		318,875		1,145,789
Win Semiconductors Corp.		248,000		1,317,400
Winbond Electronics Corp.		1,722,000		1,340,614
Wiwynn Corp.		55,000		1,360,508
WPG Holdings Ltd.		740,100		1,243,491
Yageo Corp.		246,217		2,842,835
Yang Ming Marine Transport Corp.		1,012,000		3,051,976
Yuanta Financial Holding Co. Ltd.		5,166,418		3,463,041
Zhen Ding Technology Holding Ltd.		246,097		932,130


				557,768,477

Thailand — 2.1%
Advanced Info Service PCL, NVDR		663,200		3,645,363
Airports of Thailand PCL, NVDR^(a)(c)		2,435,400		4,692,507
Asset World Corp. PCL, NVDR^(a)		5,289,000		727,251
B Grimm Power PCL, NVDR		516,600		536,772
Bangkok Commercial Asset Management PCL, NVDR^(a)		1,131,600		523,868
Bangkok Dusit Medical Services PCL, NVDR		5,805,600		4,245,874
Bangkok Expressway & Metro PCL, NVDR		4,403,400		1,046,072
Berli Jucker PCL, NVDR		713,400		632,939
BTS Group Holdings PCL, NVDR		4,717,400		1,111,380
Bumrungrad Hospital PCL, NVDR		270,600		1,348,477
Carabao Group PCL, NVDR		172,200		531,410
Central Pattana PCL, NVDR^(a)		1,180,800		2,056,772
Central Retail Corp. PCL, NVDR		1,082,474		1,084,557
Charoen Pokphand Foods PCL, NVDR		2,189,400		1,504,806
CP ALL PCL, NVDR		3,371,200		5,640,478
Delta Electronics Thailand PCL, NVDR^(a)		196,800		2,554,264
Electricity Generating PCL, NVDR		147,600		744,210
Energy Absolute PCL, NVDR		984,000		2,186,108
Global Power Synergy PCL, NVDR		417,200		773,900


Security	Shares		Value


Thailand (continued)
Gulf Energy Development PCL, NVDR		1,746,800	$	2,263,028
Home Product Center PCL, NVDR		3,444,043		1,247,510
Indorama Ventures PCL, NVDR		1,057,800		1,266,157
Intouch Holdings PCL, NVDR		662,425		1,272,553
JMT Network Services PCL, NVDR^(a)		467,400		956,818
Krung Thai Bank PCL, NVDR		1,746,675		759,629
Krungthai Card PCL, NVDR^(a)		541,200		851,776
Land & Houses PCL, NVDR		4,009,800		930,163
Minor International PCL, NVDR^(c)		1,894,220		1,742,237
Muangthai Capital PCL, NVDR^(a)		442,800		590,933
Osotspa PCL, NVDR^(a)		664,200		567,199
PTT Exploration & Production PCL, NVDR		787,284		3,539,665
PTT Global Chemical PCL, NVDR		1,303,876		1,583,469
PTT Oil & Retail Business PCL, NVDR		1,845,000		1,272,832
PTT Public Company Ltd., NVDR		5,584,200		5,321,456
Ratch Group PCL, NVDR		344,400		358,784
SCB X PCL, NVS^(a)		541,200		1,492,306
SCG Packaging PCL, NVDR		762,600		1,069,833
Siam Cement PCL (The), NVDR		442,600		4,503,601
Srisawad Corp. PCL, NVDR^(a)		467,400		642,956
Thai Oil PCL, NVDR		688,800		973,613
Thai Union Group PCL, NVDR^(a)		1,795,800		797,764
True Corp. PCL, NVDR^(a)		6,519,090		845,727


				70,437,017


Total Common Stocks — 98.5% (Cost: $3,533,397,989)				3,296,947,010


Preferred Stocks

South Korea — 0.7%
Hyundai Motor Co.
Preference Shares, NVS		12,546		911,177
Series 2, Preference Shares, NVS		19,926		1,449,365
LG Chem Ltd., Preference Shares, NVS		4,674		1,049,289
LG H&H Co. Ltd., Preference Shares, NVS		984		287,234
Samsung Electronics Co. Ltd., Preference Shares, NVS		481,422		21,158,318


				24,855,383


Total Preferred Stocks — 0.7% (Cost: $8,376,886)				24,855,383


Security	Shares		Value


Rights

Hong Kong — 0.0%
Kangmei Pharmaceutical Co. Ltd., Class A (Expires 12/31/49)^(c)		41,477	$	—


Total Rights — 0.0% (Cost: $0)				—


Total Long-Term Investments — 99.2% (Cost: $3,541,774,875)				3,321,802,393


Short-Term Securities

Money Market Funds — 2.3%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		71,786,285		71,779,106
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		5,400,000		5,400,000


Total Short-Term Securities — 2.3% (Cost: $77,162,505)				77,179,106


Total Investments in Securities — 101.5% (Cost: $3,618,937,380)				3,398,981,499

Liabilities in Excess of Other Assets — (1.5)%				(50,790,481	)


Net Assets — 100.0%			$	3,348,191,018

^(a)	All or a portion of this security is on loan.

^(b)	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.

^(c)	Non-income producing security.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Austria — 0.6%
Erste Group Bank AG		235,457	$	5,969,465


Belgium — 2.3%
Ageas SA/NV		111,225		4,854,448
Groupe Bruxelles Lambert SA		69,118		6,117,985
KBC Group NV		171,187		8,966,255
Sofina SA^(a)		10,462		2,450,087


				22,388,775

Denmark — 1.2%
Danske Bank A/S		472,075		6,601,637
Tryg A/S		246,581		5,622,378


				12,224,015

Finland — 3.8%
Nordea Bank Abp		2,259,530		22,278,887
Sampo OYJ, Class A		340,306		14,702,149


				36,981,036

France — 9.5%
Amundi SA^(b)		41,725		2,265,451
AXA SA		1,323,684		30,501,000
BNP Paribas SA		759,306		35,875,150
Credit Agricole SA		852,385		7,853,730
Eurazeo SE		29,938		2,138,397
Societe Generale SA		544,311		12,196,045
Wendel SE		18,337		1,687,730


				92,517,503

Germany — 12.2%
Allianz SE, Registered		279,154		50,696,065
Commerzbank AG^(c)		728,481		4,990,917
Deutsche Bank AG, Registered		1,414,419		12,371,855
Deutsche Boerse AG		129,826		22,663,114
Hannover Rueck SE		41,111		5,831,473
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered		95,764		21,710,273


				118,263,697

Italy — 5.9%
Assicurazioni Generali SpA		757,587		11,325,656
FinecoBank Banca Fineco SpA		417,521		5,188,936
Intesa Sanpaolo SpA		11,277,576		20,026,813
Mediobanca Banca di Credito Finanziario SpA		414,274		3,553,108
Poste Italiane SpA^(b)		357,682		3,004,641
UniCredit SpA		1,442,503		14,265,902


				57,365,056

Netherlands — 5.5%
ABN AMRO Bank NV, CVA^(b)		289,660		2,953,922
Aegon NV		1,225,337		5,381,931
Euronext NV^(b)		58,150		4,737,978
EXOR NV		74,433		5,235,053
ING Groep NV		2,666,930		25,906,089
NN Group NV		195,836		9,189,094


				53,404,067

Norway — 1.6%
DNB Bank ASA		634,122		12,508,544
Gjensidige Forsikring ASA		136,881		2,862,969


				15,371,513

Spain — 6.1%
Banco Bilbao Vizcaya Argentaria SA		4,552,556		20,630,678
Banco Santander SA		11,849,242		29,645,267


Security	Shares		Value

Spain (continued)
CaixaBank SA		3,033,967	$	9,110,196


				59,386,141

Sweden — 7.8%
EQT AB^(a)		202,684		5,501,512
Industrivarden AB, Class A		89,238		2,328,401
Industrivarden AB, Class C		105,450		2,720,636
Investor AB, Class A		341,349		7,018,229
Investor AB, Class B		1,243,966		23,214,544
Kinnevik AB, Class B^(c)		165,889		2,987,971
L E Lundbergforetagen AB, Class B		52,176		2,476,246
Skandinaviska Enskilda Banken AB, Class A		1,113,837		12,066,672
Svenska Handelsbanken AB, Class A		998,357		8,977,137
Swedbank AB, Class A		619,750		8,583,633


				75,874,981

Switzerland — 15.6%
Baloise Holding AG, Registered		31,222		4,974,572
Credit Suisse Group AG, Registered		1,812,013		10,539,693
Julius Baer Group Ltd.		151,586		7,838,519
Partners Group Holding AG		15,559		16,986,475
Swiss Life Holding AG, Registered		21,554		11,417,935
Swiss Re AG		205,928		15,452,178
UBS Group AG, Registered		2,403,688		39,277,037
Zurich Insurance Group AG		102,785		44,868,564


				151,354,973

United Kingdom — 27.1%
3i Group PLC		677,875		10,532,650
abrdn PLC		1,543,519		3,129,365
Admiral Group PLC		123,188		2,879,098
Aviva PLC		1,936,135		9,376,360
Barclays PLC		11,441,595		21,917,092
Hargreaves Lansdown PLC		243,498		2,520,877
HSBC Holdings PLC		13,836,533		86,671,446
Legal & General Group PLC		4,122,128		13,164,085
Lloyds Banking Group PLC		48,489,374		26,846,534
London Stock Exchange Group PLC		224,840		21,942,738
M&G PLC		1,779,241		4,637,951
NatWest Group PLC		3,845,563		11,679,960
Phoenix Group Holdings PLC		513,237		4,043,599
Prudential PLC		1,875,658		23,135,090
Schroders PLC		85,252		3,092,235
St. James’s Place PLC		370,227		5,561,205
Standard Chartered PLC		1,784,214		12,298,032


			263,428,317


Total Long-Term Investments — 99.2% (Cost: $1,363,676,714)				964,529,539


Short-Term Securities

Money Market Funds — 0.3%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(d)(e)(f)		2,031,372		2,031,168

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Austria — 2.0%
Agrana Beteiligungs AG		1,008	$	16,690
ams-OSRAM AG^(a)		22,806		188,253
ANDRITZ AG		5,664		265,017
AT&S Austria Technologie & Systemtechnik AG		2,076		103,726
BAWAG Group AG^(b)		6,951		320,926
CA Immobilien Anlagen AG		3,551		115,904
DO & CO AG^(a)(c)		531		44,366
EVN AG		2,932		69,152
FACC AG^(a)(c)		1,670		12,689
IMMOFINANZ AG		2,883		44,051
Kontron AG^(c)		3,584		53,403
Lenzing AG		1,094		88,284
Oesterreichische Post AG^(c)		2,829		81,523
Palfinger AG^(c)		1,291		31,997
Porr AG		1,480		18,386
Raiffeisen Bank International AG		12,343		149,532
S IMMO AG		3,070		71,608
Schoeller-Bleckmann Oilfield Equipment AG		834		47,687
Semperit AG Holding		915		18,554
Strabag SE		1,285		53,124
Telekom Austria AG		13,597		84,076
UNIQA Insurance Group AG		9,794		67,100
Vienna Insurance Group AG Wiener Versicherung Gruppe		3,210		73,696
Wienerberger AG		9,581		220,531


				2,240,275

Belgium — 2.9%
Ackermans & van Haaren NV		1,927		283,272
Aedifica SA^(c)		3,024		313,968
AGFA-Gevaert NV^(a)		10,795		39,058
Barco NV		5,593		146,544
Bekaert SA		2,908		102,994
bpost SA^(c)		8,291		52,034
Cofinimmo SA		2,464		277,296
Dredging Environmental & Marine Engineering NV^(a)		655		75,727
Econocom Group SA/NV		8,367		28,465
Etablissements Franz Colruyt NV		4,465		123,350
Euronav NV		14,622		199,645
Fagron		5,729		87,383
Galapagos NV^(a)		3,817		193,652
Gimv NV		1,687		91,080
Immobel SA		374		22,469
Intervest Offices & Warehouses NV		1,729		48,949
Ion Beam Applications		1,671		29,170
KBC Ancora		2,943		103,079
Kinepolis Group NV^(a)(c)		1,178		58,020
Melexis NV		1,681		144,235
Mithra Pharmaceuticals SA^(a)(c)		1,705		11,526
Montea NV		943		95,363
Ontex Group NV^(a)		5,641		36,881
Orange Belgium SA^(a)		1,302		25,071
Recticel SA		3,569		54,788
Retail Estates NV		797		56,272
Shurgard Self Storage SA		2,247		115,903
Telenet Group Holding NV		3,639		58,200
Tessenderlo Group SA^(a)		1,650		51,712
Van de Velde NV		487		18,322
VGP NV		821		144,197
X-Fab Silicon Foundries SE^(a)(b)(c)		4,704		31,414


Security	Shares		Value

Belgium (continued)
Xior Student Housing NV		1,953	$	85,430


				3,205,469

China — 0.0%
Boshiwa International Holding Ltd.^(d)		20,000		—


Denmark — 3.7%
ALK-Abello A/S^(a)		10,962		218,864
Alm Brand A/S		70,877		106,663
Ambu A/S, Class B^(c)		13,975		158,885
Bavarian Nordic A/S^(a)(c)		5,826		288,891
Better Collective A/S^(a)		2,475		39,313
cBrain A/S		927		26,582
Chemometec A/S		1,368		163,411
D/S Norden A/S		1,964		85,704
Dfds A/S		2,900		103,932
Drilling Co. of 1972 A/S (The)^(a)		1,627		77,214
FLSmidth & Co. A/S		4,383		120,389
H Lundbeck A/S		23,282		115,074
H Lundbeck A/S, Class A^(a)(c)		5,822		27,757
ISS A/S^(a)		12,956		226,426
Jyske Bank A/S, Registered^(a)		4,312		225,675
Matas A/S		3,074		32,981
Netcompany Group A/S^(a)(b)		3,275		183,653
Nilfisk Holding A/S^(a)		1,016		24,013
NKT A/S^(a)		3,425		175,481
NTG Nordic Transport Group A/S, Class A^(a)		681		30,024
Per Aarsleff Holding A/S		1,430		43,978
Ringkjoebing Landbobank A/S		2,266		254,456
Royal Unibrew A/S		4,060		346,251
Scandinavian Tobacco Group A/S, Class A^(b)		4,879		93,444
Schouw & Co. A/S		1,097		81,678
SimCorp A/S		3,325		248,172
Solar A/S, Class B		423		39,781
Spar Nord Bank A/S		7,067		80,974
Sydbank A/S		4,976		152,808
Topdanmark A/S		3,731		181,848
Zealand Pharma A/S^(a)(c)		2,858		51,545


				4,005,867

Finland — 3.0%
Aktia Bank OYJ		4,773		45,709
Anora Group OYJ		3,457		29,376
Cargotec OYJ, Class B		3,122		110,415
Caverion OYJ		7,989		39,843
Citycon OYJ		6,943		49,398
Finnair OYJ^(a)(c)		50,343		20,697
F-Secure OYJ^(a)		8,798		27,291
Harvia OYJ^(c)		1,338		28,551
Huhtamaki OYJ		8,053		313,894
Kamux Corp.		2,575		21,233
Kemira OYJ		9,045		114,846
Kempower OYJ^(a)(c)		1,390		19,552
Kojamo OYJ		11,235		200,425
Konecranes OYJ		4,985		133,841
Marimekko OYJ		2,130		29,611
Metsa Board OYJ, Class B		14,577		129,951
Metso Outotec OYJ		54,438		450,022
Musti Group OYJ		2,609		54,075
Nokian Renkaat OYJ		10,790		127,622
Oriola OYJ, Class B		7,405		15,031
Outokumpu OYJ		30,381		133,762


Security	Shares		Value

Finland (continued)
Puuilo OYJ		4,323	$	22,008
QT Group OYJ^(a)(c)		1,362		110,132
Remedy Entertainment OYJ^(c)		664		17,962
Revenio Group OYJ		2,002		103,122
Rovio Entertainment OYJ^(b)		3,378		22,911
Sanoma OYJ		6,109		86,293
Spinnova OYJ^(a)		1,302		9,986
Talenom OYJ^(c)		2,645		30,307
TietoEVRY Oyj		7,388		200,953
Tokmanni Group Corp.		4,004		52,670
Uponor OYJ		4,572		68,833
Valmet OYJ		13,634		379,398
WithSecure OYJ^(a)		8,798		15,970
YIT OYJ		11,812		40,180


				3,255,870

France — 6.8%
AB Science SA^(a)(c)		1,863		14,281
ABC arbitrage		3,074		21,992
Air France-KLM^(a)(c)		96,469		133,015
AKWEL^(c)		771		13,885
Albioma SA		2,060		104,976
ALD SA^(b)		8,280		98,085
Altarea SCA		351		52,054
Alten SA		2,445		331,151
Antin Infrastructure Partners SA		2,912		87,441
APERAM SA		4,055		132,210
Aramis Group SAS^(a)(b)(c)		1,729		7,085
Atos SE^(a)		8,103		99,898
Aubay		588		31,266
Believe SA^(a)		1,599		14,802
Beneteau SA		2,990		34,384
Boiron SA		379		17,722
Bonduelle SCA		1,068		14,363
Carmila SA		4,815		76,210
Casino Guichard Perrachon SA^(a)(c)		3,585		42,210
CGG SA^(a)		55,876		49,906
Chargeurs SA		1,407		24,121
Cie. des Alpes^(a)		1,639		28,776
Cie. Plastic Omnium SA		4,922		92,058
Coface SA^(a)		8,512		89,145
Derichebourg SA		8,140		51,883
Elior Group SA^(a)(b)(c)		10,177		33,072
Elis SA		15,857		236,679
Equasens		395		34,411
Eramet SA		765		80,980
Esker SA		427		64,140
Etablissements Maurel et Prom SA		5,038		26,625
Euroapi SA^(a)		4,313		72,760
Eutelsat Communications SA		14,323		108,994
Faurecia SE^(a)(c)		13,226		239,060
Fnac Darty SA		1,324		53,109
Gaztransport Et Technigaz SA		2,164		298,467
Groupe Guillin		592		12,706
ICADE		2,861		143,241
ID Logistics Group^(a)		214		69,291
Imerys SA		2,742		92,917
Interparfums SA		1,574		78,965
IPSOS		3,259		167,042
JCDecaux SA^(a)		5,329		85,938
Kaufman & Broad SA^(c)		1,018		28,263


Security	Shares		Value

France (continued)
Korian SA		5,968	$	88,304
LISI		1,526		35,955
LNA Sante SA		433		14,825
Maisons du Monde SA^(b)		2,328		24,883
Manitou BF SA^(c)		807		15,341
McPhy Energy SA^(a)(c)		1,724		26,527
Mercialys SA		6,368		56,448
Mersen SA		1,514		53,265
Metropole Television SA		1,975		26,016
Neoen SA^(b)		4,011		176,408
Nexans SA		1,969		189,112
Nexity SA		3,198		78,590
Orpea SA^(a)(c)		4,582		114,088
Peugeot Invest		422		42,830
Quadient SA		2,870		55,878
Rexel SA		20,392		362,416
Rubis SCA		7,596		185,655
SCOR SE		13,185		232,023
SES SA		31,763		239,707
SES-Imagotag SA^(a)		414		40,216
SMCP SA^(a)(b)		3,115		16,961
Societe BIC SA		1,997		112,837
SOITEC^(a)		2,185		349,746
Solutions 30 SE^(a)(c)		7,157		24,355
Somfy SA		619		78,271
Sopra Steria Group SACA		1,265		210,788
SPIE SA		10,901		261,787
Technicolor SA^(a)		16,404		52,443
Television Francaise 1		3,570		24,593
Trigano SA		734		71,819
Vallourec SA^(a)		7,625		70,653
Valneva SE^(a)(c)		6,948		69,102
Verallia SA^(b)		6,101		156,165
Vicat SA		1,500		39,108
Vilmorin & Cie SA		509		21,043
Virbac SA		350		129,274
Voltalia SA^(a)(c)		2,365		50,150
Waga Energy SA^(a)		414		14,767
Wavestone		674		35,195


				7,437,123

Germany — 8.1%
1&1 AG		3,699		64,094
Aareal Bank AG^(a)		5,367		174,434
About You Holding SE^(a)(c)		3,109		28,075
Adesso SE		277		47,992
ADLER Group SA^(a)(b)(c)		5,341		18,943
AIXTRON SE		9,287		240,095
Amadeus Fire AG		458		51,172
Atoss Software AG		328		51,756
AURELIUS Equity Opportunities SE & Co. KGaA		2,321		55,366
Aurubis AG		2,641		190,672
Auto1 Group SE^(a)(b)		7,187		61,991
Basler AG^(c)		918		34,977
BayWa AG		1,177		50,663
Bertrandt AG		459		17,143
Bike24 Holding AG^(a)(c)		1,671		4,965
Bilfinger SE		2,545		76,904
Borussia Dortmund GmbH & Co. KGaA^(a)		6,572		25,636
CANCOM SE		3,193		109,152
Ceconomy AG		13,027		26,273


Security	Shares		Value

Germany (continued)
Cewe Stiftung & Co. KGaA		459	$	39,418
CompuGroup Medical SE & Co. KgaA		2,224		96,407
CropEnergies AG		2,142		31,567
CTS Eventim AG & Co. KGaA^(a)		4,798		264,290
Datagroup SE		346		26,376
Dermapharm Holding SE		1,555		87,606
Deutsche Beteiligungs AG		1,090		31,460
Deutsche Euroshop^(d)		4,371		96,049
Deutsche Pfandbriefbank AG^(b)		11,283		104,293
Deutz AG		10,071		42,045
DIC Asset AG		3,234		36,785
Draegerwerk AG & Co. KGaA		252		11,461
Duerr AG		4,257		105,840
Eckert & Ziegler Strahlen- und Medizintechnik AG		1,251		55,473
Elmos Semiconductor SE		603		29,205
ElringKlinger AG		2,516		20,138
Encavis AG		10,039		219,681
Energiekontor AG		547		53,685
Evotec SE^(a)		11,622		301,954
Fielmann AG		2,115		85,493
flatexDEGIRO AG^(a)		5,499		55,932
Fraport AG Frankfurt Airport Services Worldwide^(a)		3,043		139,164
Freenet AG		10,142		238,810
Gerresheimer AG^(c)		2,554		153,407
GFT Technologies SE		1,462		66,075
Global Fashion Group SA^(a)		6,813		10,109
Grand City Properties SA		8,082		110,228
GRENKE AG^(c)		2,296		60,289
Hamborner REIT AG		5,559		48,910
Hamburger Hafen und Logistik AG		2,196		30,606
Heidelberger Druckmaschinen AG^(a)(c)		21,510		33,013
Hensoldt AG		3,068		78,662
HOCHTIEF AG		2,045		109,765
Hornbach Holding AG & Co. KGaA		735		57,690
Hugo Boss AG		4,699		277,675
Hypoport SE^(a)		324		67,344
Indus Holding AG		1,679		40,261
Instone Real Estate Group SE^(b)		3,844		42,115
Jenoptik AG		4,233		102,525
JOST Werke AG^(b)		1,083		45,024
K+S AG, Registered		15,712		331,307
Kloeckner & Co. SE		6,181		60,578
Krones AG		1,167		101,681
KWS Saat SE & Co. KGaA		952		58,166
LANXESS AG		6,720		247,133
MBB SE^(c)		159		17,568
Media and Games Invest SE^(a)(c)		9,280		22,649
Medios AG^(a)		1,251		36,369
METRO AG^(a)		10,623		86,334
MLP SE		5,533		32,347
MorphoSys AG^(a)		2,895		64,366
Nagarro SE^(a)		676		79,280
Nordex SE^(a)(c)		10,401		101,063
Norma Group SE		2,652		49,476
Northern Data AG^(a)(c)		424		10,367
OHB SE		421		14,449
PATRIZIA AG		4,013		51,761
Pfeiffer Vacuum Technology AG		291		46,010
PNE AG		2,952		46,990
ProSiebenSat.1 Media SE		14,444		123,535


Security	Shares		Value

Germany (continued)
PVA TePla AG^(a)		1,643	$	35,889
Salzgitter AG^(c)		2,508		63,855
Secunet Security Networks AG		136		39,340
SGL Carbon SE^(a)		4,984		37,750
Siltronic AG		1,253		101,729
Sirius Real Estate Ltd.		96,870		112,756
Sixt SE		1,136		138,685
SMA Solar Technology AG^(a)(c)		880		48,015
Software AG		4,253		114,901
Stabilus SE		2,037		114,801
Steico SE		463		37,839
Stratec SE		626		57,744
Stroeer SE & Co. KGaA		2,730		119,404
Suedzucker AG		5,908		83,346
Synlab AG		9,268		175,491
TAG Immobilien AG		14,409		159,569
Takkt AG		2,568		35,018
TeamViewer AG^(a)(b)		12,161		126,616
thyssenkrupp AG^(a)		38,328		236,717
Tonies SE, Class A^(a)		3,322		16,976
TUI AG^(a)		85,467		138,101
Varta AG^(c)		1,516		123,409
VERBIO Vereinigte BioEnergie AG		1,807		112,139
Vitesco Technologies Group AG^(a)		1,671		90,884
Vossloh AG		725		25,875
Wacker Neuson SE		2,342		45,062
Wuestenrot & Wuerttembergische AG		1,932		33,178
Zeal Network SE		1,155		36,949


				8,880,600

Hong Kong — 0.0%
China Hongxing Sports Ltd.^(d)		198,000		2
Peace Mark Holdings Ltd.^(d)		30,000		—
Untrade Real Gold Mining^(d)		27,000		—


				2

Ireland — 1.4%
AIB Group PLC		67,429		153,377
Bank of Ireland Group PLC		85,011		486,922
C&C Group PLC^(a)		32,668		78,956
Cairn Homes PLC^(a)		56,628		62,854
Dalata Hotel Group PLC^(a)		16,989		62,599
Glanbia PLC		16,434		193,158
Glenveagh Properties PLC^(a)(b)		51,912		57,618
Grafton Group PLC		18,948		195,988
Greencore Group PLC^(a)		44,772		54,850
Irish Residential Properties REIT PLC		35,869		49,638
Origin Enterprises PLC		10,208		41,441
Uniphar PLC^(a)		18,694		61,809


				1,499,210

Israel — 0.2%
Plus500 Ltd.		8,260		167,640
Tremor International Ltd.^(a)(c)		7,739		40,657


				208,297

Italy — 5.2%
A2A SpA		130,173		167,780
ACEA SpA		3,580		51,697
Anima Holding SpA^(b)		19,985		70,164
Antares Vision SpA^(a)		2,308		24,694
Arnoldo Mondadori Editore SpA		10,567		18,325
Ascopiave SpA		4,723		13,422


Security	Shares		Value

Italy (continued)
Autogrill SpA^(a)		16,164	$	105,458
Azimut Holding SpA		8,911		155,881
Banca Generali SpA^(c)		4,827		140,435
Banca IFIS SpA		2,100		28,255
Banca Mediolanum SpA		18,521		122,653
Banca Monte dei Paschi di Siena SpA^(a)(c)		18,986		8,052
Banca Popolare di Sondrio SPA		37,758		125,303
Banco BPM SpA		118,158		306,038
BFF Bank SpA^(b)		13,138		92,307
Biesse SpA^(c)		1,098		15,658
Bio On SpA^(c)(d)		801		—
BPER Banca		87,757		121,817
Brembo SpA		12,364		130,606
Brunello Cucinelli SpA		2,841		165,116
Buzzi Unicem SpA		7,920		144,802
Carel Industries SpA^(b)		3,308		75,367
CIR SpA-Compagnie Industriali^(a)		58,701		24,868
Credito Emiliano SpA		6,630		37,527
Danieli & C Officine Meccaniche SpA		1,014		20,857
Datalogic SpA^(c)		1,874		14,605
De’ Longhi SpA		6,236		118,606
Digital Bros. SpA		439		11,910
Digital Value SpA^(a)		294		19,269
doValue SpA^(b)		5,011		30,599
El.En. SpA		3,499		52,545
Enav SpA^(a)(b)		22,553		98,604
ERG SpA		4,937		161,031
Esprinet SpA		2,525		18,276
Fila SpA		2,366		19,253
Fincantieri SpA^(a)(c)		45,766		24,060
Gruppo MutuiOnline SpA		2,166		58,040
GVS SpA^(b)		5,995		58,250
Hera SpA		68,130		195,756
Illimity Bank SpA^(a)		4,494		46,269
Immobiliare Grande Distribuzione SIIQ SpA		4,453		16,553
Interpump Group SpA		5,888		251,640
Iren SpA		60,266		113,573
Italgas SpA		40,354		230,857
Italmobiliare SpA		1,277		35,579
Juventus Football Club SpA^(a)(c)		83,462		30,750
Leonardo SpA		33,053		309,594
Maire Tecnimont SpA^(c)		11,822		32,831
MARR SpA		2,590		35,846
OVS SpA^(b)(c)		18,146		29,186
Pharmanutra SpA		328		22,575
Piaggio & C SpA		12,900		33,985
Pirelli & C SpA^(b)		28,646		124,026
RAI Way SpA^(b)		7,477		37,213
Reply SpA		1,870		246,179
Safilo Group SpA^(a)		18,971		25,923
Saipem SpA^(a)(c)		99,168		82,497
Salcef SpA		2,063		39,819
Salvatore Ferragamo SpA		4,079		72,353
Sanlorenzo SpA/Ameglia		970		33,769
Saras SpA^(a)		47,588		60,366
Seco SpA^(a)		2,693		17,497
Sesa SpA		647		91,833
SOL SpA		3,034		56,272
Tamburi Investment Partners SpA		9,144		75,973
Technogym SpA^(b)(c)		11,669		82,208


Security	Shares		Value

Italy (continued)
Technoprobe SpA^(a)		10,425	$	83,988
Tinexta SpA		1,738		43,280
Tod’s SpA^(a)		800		28,414
Unipol Gruppo SpA		32,808		137,620
Webuild SpA^(c)		33,342		51,457
Wiit SpA		839		17,193
Zignago Vetro SpA		2,564		32,525


				5,677,529

Netherlands — 4.3%
Aalberts NV		8,164		349,876
Alfen Beheer BV^(a)(b)		1,800		210,129
AMG Advanced Metallurgical Group NV		2,307		64,761
Arcadis NV		5,925		219,081
Ariston Holding NV		7,035		58,240
ASR Nederland NV		11,464		479,166
B&S Group Sarl^(b)		2,522		13,160
Basic-Fit NV^(a)(b)		4,366		177,075
BE Semiconductor Industries NV		5,853		314,199
Boskalis Westminster		6,495		213,117
Brunel International NV		1,862		21,091
Cementir Holding NV		3,747		24,353
CM.Com NV^(a)(c)		1,168		14,157
Corbion NV		4,951		172,545
COSMO Pharmaceuticals NV		757		40,619
CureVac NV^(a)		4,675		62,402
Ebusco Holding NV^(a)(c)		1,232		29,610
Eurocommercial Properties NV		3,639		82,396
Fastned BV^(a)(c)		348		10,082
Flow Traders^(b)		2,724		59,196
Fugro NV^(a)		8,180		97,361
InPost SA^(a)		18,695		123,448
Intertrust NV^(a)(b)		7,508		148,100
Iveco Group NV^(a)		16,843		103,123
Koninklijke BAM Groep NV^(a)		21,885		53,363
Koninklijke Vopak NV		5,769		133,893
Meltwater Holding BV^(a)		10,930		14,201
MFE-MediaForEurope NV^(a)		56,420		25,396
MFE-MediaForEurope NV, Class B^(a)		25,740		16,565
NSI NV		1,546		50,162
Pharming Group NV^(a)(c)		53,007		41,478
PostNL NV^(c)		29,963		78,812
RHI Magnesita NV		2,157		59,463
SBM Offshore NV		10,944		152,742
Shop Apotheke Europe NV^(a)(b)		1,214		117,889
Signify NV^(b)		10,682		346,930
Sligro Food Group NV^(a)		1,749		34,679
Technip Energies NV		10,823		127,822
TKH Group NV		3,261		133,867
TomTom NV^(a)		6,017		54,392
Van Lanschot Kempen NV		2,603		59,607
Vastned Retail NV		963		23,335
Wereldhave NV		2,788		42,235


				4,654,118

Norway — 4.5%
Aker ASA, Class A		1,864		144,760
Aker Carbon Capture ASA^(a)		27,467		61,909
Aker Horizons Holding AS^(a)		19,793		36,761
Aker Solutions ASA		20,388		63,195
Atea ASA		6,782		82,810


Security	Shares		Value

Norway (continued)
Austevoll Seafood ASA		7,331	$	90,309
Bakkafrost P/F		4,180		291,412
Bewi ASA		3,931		28,005
Bonheur ASA		1,760		70,477
Borregaard ASA		7,504		134,702
BW Energy Ltd.^(a)(c)		8,383		23,885
BW LPG Ltd.^(b)		6,636		54,585
BW Offshore Ltd.		18,743		52,756
Crayon Group Holding ASA^(a)(b)(c)		5,881		94,279
DNO ASA		34,409		49,509
Elkem ASA^(b)		26,422		108,261
Elopak ASA		10,081		19,136
Entra ASA^(b)		5,308		74,750
Europris ASA^(b)		13,227		78,210
Flex LNG Ltd.		2,526		80,107
Frontline Ltd./Bermuda^(a)		10,280		97,920
Golden Ocean Group Ltd.		11,436		126,266
Grieg Seafood ASA		3,785		58,120
Hafnia Ltd.^(c)		9,324		33,138
Hexagon Composites ASA^(a)		9,564		32,119
Hexagon Purus ASA^(a)		6,405		18,568
Kahoot! ASA^(a)(c)		21,626		51,853
Leroy Seafood Group ASA		22,265		174,908
LINK Mobility Group Holding ASA^(a)		13,634		17,883
MPC Container Ships AS		22,148		54,015
NEL ASA^(a)(c)		118,550		204,512
Nordic Semiconductor ASA^(a)		13,709		240,916
Norway Royal Salmon ASA^(a)		1,050		26,997
Norwegian Air Shuttle ASA^(a)		50,713		49,479
Nykode Therapeutics AS^(a)(c)		8,454		28,663
Odfjell Drilling Ltd.^(a)		7,828		18,785
Protector Forsikring ASA		5,125		60,449
REC Silicon ASA^(a)		21,189		39,999
Scatec ASA^(b)		9,917		118,418
Schibsted ASA, Class A		6,099		114,634
Schibsted ASA, Class B		8,119		146,050
Selvaag Bolig ASA		3,387		14,385
SpareBank 1 Nord Norge		7,981		77,208
SpareBank 1 Oestlandet		2,897		35,792
SpareBank 1 SMN		10,796		138,428
SpareBank 1 SR-Bank ASA		14,868		175,804
Stolt-Nielsen Ltd.		1,467		31,259
Storebrand ASA		38,744		325,877
TGS ASA		9,410		139,673
TOMRA Systems ASA		19,443		455,153
Veidekke ASA		8,741		90,376
Volue ASA^(a)		3,865		9,836
Wallenius Wilhelmsen ASA		8,446		56,619


				4,903,920

Portugal — 0.5%
Altri SGPS SA		5,858		34,565
Banco Comercial Portugues SA, Class R		669,482		99,343
Corticeira Amorim SGPS SA		3,107		33,025
CTT-Correios de Portugal SA		8,790		30,061
Greenvolt Energias Renovaveis SA^(a)		4,352		39,306
Navigator Co. SA (The)		18,061		74,537
NOS SGPS SA		17,220		65,013
REN - Redes Energeticas Nacionais SGPS SA		32,337		91,423
Semapa-Sociedade de Investimento e Gestao		1,357		19,858


Security	Shares		Value

Portugal (continued)
Sonae SGPS SA		73,162	$	83,242


				570,373

Singapore — 0.0%
Jurong Technologies Industrial Corp. Ltd.^(d)		60,000		—


Spain — 3.4%
Acerinox SA		16,924		165,116
Almirall SA^(c)		6,231		60,160
Applus Services SA		11,407		82,834
Atresmedia Corp. de Medios de Comunicacion SA		7,298		22,426
Audax Renovables SA		8,579		9,414
Banco de Sabadell SA		469,509		300,609
Bankinter SA		55,737		274,423
Befesa SA^(b)		3,325		154,016
Cia. de Distribucion Integral Logista Holdings SA		5,378		110,857
Cie. Automotive SA		4,114		108,221
Construcciones y Auxiliar de Ferrocarriles SA		1,594		47,197
Corp Financiera Alba SA		1,461		77,071
Distribuidora Internacional de Alimentacion SA^(a)		1,335,510		17,960
Ebro Foods SA		5,712		95,053
eDreams ODIGEO SA^(a)		5,115		27,087
Ence Energia y Celulosa SA		11,106		36,790
Faes Farma SA		25,827		110,073
Fluidra SA		8,085		151,126
Gestamp Automocion SA^(b)		14,427		55,500
Global Dominion Access SA^(b)		6,990		28,041
Grenergy Renovables SA^(a)		923		36,538
Grupo Catalana Occidente SA		3,486		103,955
Indra Sistemas SA		11,774		107,705
Inmobiliaria Colonial Socimi SA		24,620		163,119
Laboratorios Farmaceuticos Rovi SA		1,597		83,617
Lar Espana Real Estate Socimi SA		4,150		20,296
Linea Directa Aseguradora SA Cia de Seguros y Reaseguros		53,604		59,490
Mapfre SA		77,001		124,368
Mediaset Espana Comunicacion SA^(a)		5,154		17,933
Melia Hotels International SA^(a)		10,164		64,107
Merlin Properties Socimi SA		27,427		294,177
Miquel y Costas & Miquel SA		1,061		13,678
Neinor Homes SA^(b)		2,336		25,126
Pharma Mar SA		1,192		73,427
Prosegur Cash SA^(b)		25,404		18,460
Prosegur Cia. de Seguridad SA		15,248		27,193
Sacyr SA		32,291		73,848
Solaria Energia y Medio Ambiente SA^(a)		6,216		143,326
Soltec Power Holdings SA^(a)(c)		3,061		15,274
Talgo SA^(b)		6,461		19,212
Tecnicas Reunidas SA^(a)(c)		2,814		18,682
Unicaja Banco SA^(b)		120,669		104,380
Viscofan SA		3,296		191,954


				3,733,839

Sweden — 11.6%
AAK AB		14,856		259,682
AcadeMedia AB^(b)		7,057		34,791
AddLife AB		9,411		162,142
AddTech AB, Class B		21,645		370,533
AFRY AB		7,749		118,326
Alimak Group AB^(b)		2,892		25,764
Ambea AB^(b)		6,066		29,903
Arjo AB, Class B		17,834		97,967


Security	Shares		Value

Sweden (continued)
Atrium Ljungberg AB, Class B		3,738	$	55,583
Attendo AB^(a)(b)		9,304		22,649
Avanza Bank Holding AB		10,333		199,381
Axfood AB^(c)		8,881		281,753
Beijer Alma AB		3,696		74,224
Beijer Ref AB		20,571		326,314
Betsson AB		9,770		67,443
BHG Group AB^(a)		8,089		27,647
BICO Group AB, Class B^(a)(c)		3,362		13,352
Bilia AB, Class A		6,099		86,176
BillerudKorsnas AB^(c)		18,709		241,319
BioArctic AB^(a)(b)		2,724		29,578
BioGaia AB		7,215		67,875
Biotage AB		5,418		119,187
Bonava AB, Class B		6,277		23,515
Boozt AB^(a)(b)		4,472		31,503
Bravida Holding AB^(b)		16,912		171,273
Bufab AB		2,171		65,499
Bure Equity AB		4,623		123,069
Calliditas Therapeutics AB, Class B^(a)		2,340		22,122
Camurus AB^(a)		2,438		55,406
Cary Group AB^(a)(c)		6,598		41,131
Castellum AB		21,287		341,274
Catena AB		2,558		117,216
Cellavision AB		1,322		47,623
Cibus Nordic Real Estate AB		3,616		64,814
Cint Group AB^(a)		12,114		85,502
Clas Ohlson AB, Class B		3,345		37,943
Cloetta AB, Class B		15,343		30,710
Collector AB^(a)		5,292		18,388
Coor Service Management Holding AB^(b)		7,959		65,898
Corem Property Group AB, Class B		46,946		63,131
Creades AB, Class A		4,291		39,531
Dios Fastigheter AB		6,945		54,897
Dometic Group AB^(b)		25,965		176,087
Duni AB^(a)		2,817		26,889
Dustin Group AB^(b)		5,740		39,195
Electrolux Professional AB, Class B		19,790		120,934
Elekta AB, Class B		30,188		218,033
Fabege AB		22,061		226,452
Fagerhult AB		7,671		41,729
Fingerprint Cards AB, Class B^(a)(c)		24,783		21,961
Fortnox AB		40,518		231,049
GARO AB		2,749		48,033
Granges AB		9,043		83,849
Hemnet Group AB		3,162		47,926
Hexatronic Group AB		13,366		162,140
Hexpol AB		21,941		228,846
HMS Networks AB		2,339		111,498
Hufvudstaden AB, Class A		9,366		129,282
Humble Group AB^(a)(c)		11,640		18,808
Implantica AG, SDR^(a)		2,883		11,348
Instalco AB		15,211		75,296
Intrum AB		6,038		128,972
Investment AB Oresund		2,058		22,574
INVISIO AB		3,377		55,097
Inwido AB		4,791		58,135
JM AB		4,342		80,577
Kambi Group PLC, Class B^(a)		2,101		37,927
Karo Pharma AB^(a)		4,559		22,790


Security	Shares		Value

Sweden (continued)
K-Fast Holding AB^(a)		4,691	$	13,476
Kindred Group PLC		18,893		166,392
KNOW IT AB		2,174		64,256
LeoVegas AB^(b)		6,007		35,954
Lime Technologies AB		920		26,381
Lindab International AB		6,278		109,886
Loomis AB		6,188		174,491
MEKO AB		3,392		39,874
Millicom International Cellular SA, SDR^(a)		14,122		222,055
MIPS AB^(c)		2,219		118,716
Modern Times Group MTG AB, Class B		8,102		83,860
Munters Group AB^(b)		10,710		79,876
Mycronic AB		6,016		88,483
NCC AB, Class B		6,763		70,235
New Wave Group AB, Class B		3,651		55,959
Nobia AB		10,669		30,990
Nolato AB, Class B		16,590		99,834
Nordnet AB publ		11,514		154,662
Note AB^(a)		1,452		29,814
Nyfosa AB		13,622		127,182
OX2 AB^(a)		6,811		66,984
Pandox AB^(a)		7,600		111,455
Paradox Interactive AB^(c)		2,645		46,915
Peab AB, Class B		15,156		103,401
Platzer Fastigheter Holding AB, Class B		5,101		43,731
PowerCell Sweden AB^(a)		3,891		69,943
Ratos AB, Class B		17,020		85,265
Re:NewCell AB^(a)(c)		1,681		17,588
Resurs Holding AB^(b)		10,588		24,734
Rvrc Holding AB		3,296		14,932
Saab AB, Class B		6,113		221,129
Samhallsbyggnadsbolaget i Norden AB^(c)		85,966		159,507
Samhallsbyggnadsbolaget i Norden AB, Class D		12,248		23,496
Scandic Hotels Group AB^(a)(b)		12,640		51,762
Sdiptech AB, Class B^(a)		2,488		69,375
Sectra AB		11,212		205,840
Sedana Medical AB^(a)		5,416		14,781
SkiStar AB		3,562		55,296
SSAB AB, Class A		19,151		92,679
SSAB AB, Class B		53,473		245,344
Stillfront Group AB^(a)		38,139		99,940
Storskogen Group AB^(c)		115,704		153,916
Storytel AB^(a)		3,459		19,574
Surgical Science Sweden AB^(a)		2,764		43,104
Svolder AB		7,954		51,690
Sweco AB, Class B		17,845		199,030
SwedenCare AB		7,140		50,192
Synsam AB		3,754		23,175
Thule Group AB^(b)		8,568		248,744
Trelleborg AB, Class B		20,141		494,875
Troax Group AB		3,196		67,946
Truecaller AB^(a)		5,460		42,818
Vestum AB^(a)		12,599		19,896
Viaplay Group AB, Class B^(a)		6,158		182,836
Vimian Group AB^(a)		10,613		41,398
Vitec Software Group AB, Class B		2,399		110,611
Vitrolife AB		5,082		165,801
VNV Global AB^(a)		8,023		22,657
Volati AB		2,059		29,126
Wallenstam AB, Class B		29,307		149,387


Security	Shares		Value

Sweden (continued)
Wihlborgs Fastigheter AB		23,027	$	196,355
XANO Industri AB, Class B		1,284		15,769
Xvivo Perfusion AB^(a)		1,816		41,012


				12,623,846

Switzerland — 9.2%
Allreal Holding AG, Registered		1,218		201,515
ALSO Holding AG, Registered		538		99,749
APG SGA SA		107		20,403
Arbonia AG		4,410		62,716
Aryzta AG^(a)		76,903		87,889
Autoneum Holding AG		235		27,240
Banque Cantonale Vaudoise, Registered		2,505		233,241
Basilea Pharmaceutica AG, Registered^(a)(c)		1,010		46,804
Belimo Holding AG, Registered		819		336,211
Bell Food Group AG, Registered		175		46,839
BKW AG		1,724		196,136
Bobst Group SA, Registered		669		55,177
Bossard Holding AG, Class A, Registered		480		106,984
Bucher Industries AG, Registered		547		210,013
Burckhardt Compression Holding AG		253		114,299
Burkhalter Holding AG		504		39,606
Bystronic AG, Registered		117		86,563
Cembra Money Bank AG		2,500		181,733
Coltene Holding AG, Registered		211		20,579
Comet Holding AG, Registered		643		118,589
Daetwyler Holding AG, Bearer		633		154,297
DKSH Holding AG		2,980		244,951
dormakaba Holding AG		240		114,332
Dottikon Es Holding AG^(a)		235		57,740
Dufry AG, Registered^(a)		6,044		227,568
EFG International AG		7,733		60,225
Emmi AG, Registered		174		173,122
Flughafen Zurich AG, Registered^(a)		1,638		272,393
Forbo Holding AG, Registered		85		114,143
Galenica AG^(b)		4,149		328,478
Georg Fischer Ltd.		6,733		411,514
Gurit Holding AG^(c)		265		32,285
Helvetia Holding AG, Registered		3,049		348,588
Huber + Suhner AG, Registered		1,347		121,288
Idorsia Ltd.^(a)(c)		9,553		116,825
Implenia AG, Registered^(a)(c)		1,161		30,705
Inficon Holding AG, Registered		140		116,838
Interroll Holding AG, Registered		54		142,508
Intershop Holding AG		94		63,203
Kardex Holding AG, Registered		523		104,878
Komax Holding AG, Registered		297		80,569
Landis+Gyr Group AG		1,771		116,894
LEM Holding SA, Registered		48		95,309
Leonteq AG		754		44,955
Medacta Group SA^(b)		589		58,229
Medartis Holding AG^(a)(b)		336		29,863
Medmix AG^(b)		2,100		47,588
Metall Zug AG, Class B, Registered		17		34,380
Meyer Burger Technology AG^(a)		197,727		117,565
Mobilezone Holding AG, Registered		3,293		58,773
Mobimo Holding AG, Registered		588		151,399
Molecular Partners AG^(a)		1,766		11,299
Montana Aerospace AG^(a)(b)		1,680		33,468
OC Oerlikon Corp. AG, Registered		15,544		120,296
Orior AG		545		46,637


Security	Shares		Value

Switzerland (continued)
Peach Property Group AG		815	$	29,583
PolyPeptide Group AG^(b)		1,184		56,187
PSP Swiss Property AG, Registered		3,767		450,504
Rieter Holding AG, Registered		197		22,356
Schweiter Technologies AG, Bearer		84		95,297
Sensirion Holding AG^(a)(b)		756		87,738
SFS Group AG		1,560		171,477
Siegfried Holding AG, Registered		331		244,957
SIG Group AG		23,765		619,989
Softwareone Holding AG		7,919		107,783
St. Galler Kantonalbank AG, Class A, Registered		254		120,996
Stadler Rail AG^(c)		4,171		135,084
Sulzer AG, Registered		1,563		104,775
Swiss Steel Holding AG, Registered^(a)		66,170		18,631
Swissquote Group Holding SA, Registered		825		100,299
Tecan Group AG, Registered		1,053		373,959
Trifork Holding AG		759		20,521
TX Group AG		233		30,518
u-blox Holding AG		570		66,725
Valiant Holding AG, Registered		1,327		119,543
Valora Holding AG, Registered		308		84,190
Vetropack Holding AG, Registered		1,009		40,093
Vontobel Holding AG, Registered		2,357		155,035
V-ZUG Holding AG^(a)		171		13,995
Ypsomed Holding AG, Registered		315		44,709
Zehnder Group AG, Registered		788		50,880
Zur Rose Group AG^(a)(c)		799		57,050


				9,998,265

United Kingdom — 31.9%
888 Holdings PLC		30,669		54,940
Abcam PLC^(a)		17,852		266,796
Advanced Medical Solutions Group PLC		17,857		61,118
AG Barr PLC		7,393		48,736
Airtel Africa PLC^(b)		77,261		149,346
AJ Bell PLC		25,591		98,467
Alliance Pharma PLC		42,899		50,832
Alpha FX Group PLC		2,479		54,944
Alphawave IP Group PLC^(a)		22,118		36,255
AO World PLC^(a)(c)		38,032		20,110
Argo Blockchain PLC^(a)		38,348		17,477
Ascential PLC^(a)		36,456		130,338
Ashmore Group PLC		38,515		101,503
ASOS PLC^(a)		5,823		74,110
Assura PLC		244,712		205,081
Aston Martin Lagonda Global Holdings PLC^(a)(b)(c)		5,525		32,494
Atalaya Mining PLC		9,300		31,711
Auction Technology Group PLC^(a)		7,522		91,053
Avacta Group PLC^(a)(c)		21,484		28,780
Avast PLC^(b)		56,368		319,199
Avon Protection PLC		2,645		34,208
B&M European Value Retail SA		78,504		406,482
Babcock International Group PLC^(a)		21,272		88,962
Bakkavor Group PLC^(b)		14,912		15,872
Balanced Commercial Property Trust Ltd.		62,880		91,869
Balfour Beatty PLC		53,537		182,944
Bank of Georgia Group PLC		3,036		55,680
Beazley PLC		50,385		333,707
Bellway PLC		10,279		307,178
Biffa PLC^(b)		25,680		113,646
Big Yellow Group PLC		14,338		248,716


Security	Shares		Value

United Kingdom (continued)
Bodycote PLC		15,666	$	114,606
boohoo Group PLC^(a)		84,085		68,708
Borr Drilling Ltd.^(a)(c)		10,416		38,007
Breedon Group PLC		124,309		107,700
Brewin Dolphin Holdings PLC		22,718		141,650
Bridgepoint Group PLC^(b)		55,269		171,632
Britvic PLC		22,204		232,679
Burford Capital Ltd.		15,495		166,149
Bytes Technology Group PLC		17,936		98,995
Capita PLC^(a)		141,902		49,827
Capital & Counties Properties PLC		58,271		105,566
Capricorn Energy PLC^(a)		27,180		72,881
Carnival PLC^(a)		12,400		99,987
Centamin PLC		95,818		96,879
Central Asia Metals PLC		13,700		41,626
Centrica PLC^(a)		487,567		522,427
Ceres Power Holdings PLC^(a)(c)		10,339		76,804
Chemring Group PLC		23,684		100,233
Cineworld Group PLC^(a)(c)		80,443		22,701
Civitas Social Housing PLC		51,029		51,454
Clarkson PLC		2,268		95,375
Clipper Logistics PLC^(d)		1,078		10,917
Close Brothers Group PLC		12,534		169,430
CLS Holdings PLC		15,327		37,871
CMC Markets PLC^(b)		10,756		33,729
Coats Group PLC		116,754		105,594
Computacenter PLC		6,604		208,779
ContourGlobal PLC^(b)		16,744		52,458
ConvaTec Group PLC^(b)		133,629		372,623
Countryside Partnerships PLC^(a)(b)		40,028		141,879
Craneware PLC		2,070		47,392
Cranswick PLC		4,404		179,131
Crest Nicholson Holdings PLC		21,488		72,248
Currys PLC		89,353		73,061
Custodian Reit PLC		34,482		45,687
CVS Group PLC		5,873		123,303
Darktrace PLC^(a)		17,501		80,358
Dechra Pharmaceuticals PLC		8,988		404,484
Deliveroo PLC^(a)(b)		72,535		80,065
Derwent London PLC		8,398		293,192
Diploma PLC		10,376		348,452
Direct Line Insurance Group PLC		111,376		279,503
Diversified Energy Co. PLC		71,136		107,161
Domino’s Pizza Group PLC		32,532		113,374
Dr. Martens PLC		49,986		158,694
Drax Group PLC		28,192		270,438
DS Smith PLC		113,983		406,303
Dunelm Group PLC		9,311		96,811
easyJet PLC^(a)		25,200		123,082
Elementis PLC^(a)		48,023		63,950
EMIS Group PLC		4,753		106,141
Empiric Student Property PLC		50,725		55,630
Energean PLC^(a)		10,276		143,662
EnQuest PLC^(a)		125,823		44,207
Ergomed PLC^(a)		3,111		45,702
Essentra PLC		24,584		74,211
Euromoney Institutional Investor PLC		9,082		160,800
FD Technologies PLC^(a)		1,861		44,448
Ferrexpo PLC		24,624		44,663
Fevertree Drinks PLC		8,505		111,434


Security	Shares		Value

United Kingdom (continued)
Finablr PLC^(a)(b)(d)		20,497	$	—
Firstgroup PLC		62,498		102,072
Forterra PLC^(b)		19,327		69,315
Frasers Group PLC^(a)		14,646		160,252
Frontier Developments PLC^(a)(c)		1,837		34,892
Future PLC		9,584		214,732
Games Workshop Group PLC		2,694		254,968
Gamma Communications PLC		6,786		92,045
GB Group PLC		19,773		122,356
Genel Energy PLC		12,768		22,644
Genuit Group PLC		20,582		106,590
Genus PLC		5,376		185,801
Go-Ahead Group PLC (The)^(a)		3,448		62,297
Grainger PLC		61,583		222,137
Great Portland Estates PLC		17,969		136,017
Greatland Gold PLC^(a)		333,187		51,531
Greggs PLC		8,521		212,446
Gulf Keystone Petroleum Ltd.		17,825		51,308
Gym Group PLC (The)^(a)(b)		13,308		28,914
Halfords Group PLC		18,661		39,043
Hammerson PLC		291,676		89,049
Harbour Energy PLC		38,245		171,019
Hays PLC		138,940		216,770
Helical PLC		9,240		43,885
Helios Towers PLC^(a)		60,984		107,218
Hill & Smith Holdings PLC		6,473		104,047
Hiscox Ltd.		28,776		313,334
Hochschild Mining PLC		24,175		23,868
Home Reit PLC		65,908		95,513
HomeServe PLC		25,170		360,774
Hotel Chocolat Group PLC^(a)		4,399		7,393
Howden Joinery Group PLC		49,269		406,694
Hunting PLC		11,425		30,053
Ibstock PLC^(b)		33,501		83,971
IG Group Holdings PLC		33,885		328,761
IMI PLC		21,742		355,025
Impact Healthcare Reit PLC		25,737		36,859
Impax Asset Management Group PLC		7,183		63,070
Inchcape PLC		31,744		324,905
Indivior PLC^(a)		58,577		229,396
IntegraFin Holdings PLC		24,237		80,755
Intermediate Capital Group PLC		24,158		450,340
Investec PLC		57,861		313,008
IP Group PLC		87,025		91,673
ITM Power PLC^(a)(c)		35,679		93,155
ITV PLC		300,321		270,114
IWG PLC^(a)		63,114		148,014
J D Wetherspoon PLC^(a)		8,027		54,818
JET2 PLC^(a)		13,468		150,954
John Menzies PLC^(a)		5,751		42,442
John Wood Group PLC^(a)		57,246		109,729
Johnson Service Group PLC^(a)		37,130		51,174
JTC PLC^(b)		10,920		99,301
Judges Scientific PLC		429		44,512
Jupiter Fund Management PLC		35,009		53,754
Just Group PLC		86,941		75,735
Kainos Group PLC		6,469		107,534
Kape Technologies PLC^(a)		13,177		47,980
Keller Group PLC		5,682		55,244
Keywords Studios PLC		5,925		182,158


Security	Shares		Value

United Kingdom (continued)
Kier Group PLC^(a)		37,095	$	34,589
Lancashire Holdings Ltd.		20,190		109,988
Learning Technologies Group PLC		49,870		80,773
Liontrust Asset Management PLC		4,958		62,989
LondonMetric Property PLC		77,125		235,183
Luceco PLC^(b)		6,722		8,934
LXI REIT PLC		155,225		281,168
Man Group PLC/Jersey		113,786		378,536
Marks & Spencer Group PLC^(a)		163,511		283,475
Marlowe PLC^(a)		6,796		66,044
Marshalls PLC		17,934		108,278
Marston’s PLC^(a)		52,101		30,290
Mediclinic International PLC^(a)		33,272		196,869
Meggitt PLC^(a)		64,670		622,946
Micro Focus International PLC		27,669		96,388
Mitchells & Butlers PLC^(a)		22,820		48,203
Mitie Group PLC		116,229		111,062
Moneysupermarket.com Group PLC		44,034		109,619
Moonpig Group PLC^(a)		18,546		47,251
Morgan Advanced Materials PLC		23,438		90,909
Morgan Sindall Group PLC		3,372		83,600
National Express Group PLC^(a)		43,725		97,962
NCC Group PLC		25,960		70,910
Network International Holdings PLC^(a)(b)		42,535		104,013
Next Fifteen Communications Group PLC		6,904		86,445
Ninety One PLC		33,740		84,314
Numis Corp. PLC^(c)		4,653		14,664
On the Beach Group PLC^(a)(b)		12,510		16,968
OSB Group PLC		37,112		238,398
Oxford Biomedica PLC^(a)		5,838		34,339
Oxford Nanopore Technologies PLC^(a)(c)		27,443		107,185
Pagegroup PLC		27,318		152,051
Pan African Resources PLC		167,606		41,209
Pantheon Resources PLC^(a)(c)		59,337		84,673
Paragon Banking Group PLC		20,007		130,628
Patisserie Holdings PLC, NVS^(d)		7,527		—
Penno Group PLC		22,147		271,089
Petrofac Ltd.^(a)(c)		34,833		48,867
Pets at Home Group PLC		41,564		166,768
Picton Property Income Ltd. (The)		42,792		48,152
Playtech PLC^(a)		19,162		114,821
Polar Capital Holdings PLC		5,416		32,273
Premier Foods PLC		54,396		77,107
Primary Health Properties PLC		105,380		189,594
Provident Financial PLC		19,593		46,301
PRS REIT PLC (The)		43,515		58,292
PZ Cussons PLC		18,354		47,091
QinetiQ Group PLC		47,377		220,649
Quilter PLC^(b)		109,496		140,011
Rank Group PLC^(a)		17,004		18,637
Rathbones Group PLC		4,892		107,830
Reach PLC		24,742		29,121
Redde Northgate PLC		19,584		87,527
Redrow PLC		24,740		174,927
Regional REIT Ltd.^(b)		35,063		31,543
Renewi PLC^(a)		6,669		61,661
Renishaw PLC		3,014		160,008
Restaurant Group PLC (The)^(a)		66,942		41,501
Restore PLC		10,446		57,092
Rightmove PLC		70,237		549,097


Security	Shares		Value

United Kingdom (continued)
Rotork PLC		70,626	$	224,115
Royal Mail PLC		64,634		223,362
RS GROUP PLC		39,055		493,056
RWS Holdings PLC		25,746		120,209
S4 Capital PLC^(a)		22,188		34,313
Sabre Insurance Group PLC^(b)		21,213		28,261
Safestore Holdings PLC		17,497		243,639
Saga PLC^(a)		8,556		16,463
Sanne Group PLC^(a)		12,799		143,397
Savills PLC		11,817		172,286
Senior PLC^(a)		35,079		62,028
Serco Group PLC		101,790		234,188
Serica Energy PLC		16,821		77,856
Shaftesbury PLC		16,249		99,709
SIG PLC^(a)(c)		57,301		25,500
Smart Metering Systems PLC		10,544		121,046
Softcat PLC		10,709		182,698
SolGold PLC^(a)		94,784		29,319
Spectris PLC		9,219		350,650
Spire Healthcare Group PLC^(a)(b)		23,859		69,238
Spirent Communications PLC		50,855		174,925
SSP Group PLC^(a)		65,793		204,598
SThree PLC		10,512		48,282
Strix Group PLC^(c)		17,027		33,135
Subsea 7 SA		19,286		173,817
Supermarket Income Reit PLC		82,192		129,212
Synthomer PLC		31,080		88,656
Target Healthcare REIT PLC		51,550		72,194
Tate & Lyle PLC		33,319		326,405
TBC Bank Group PLC		3,508		58,954
Team17 Group PLC^(a)		9,374		50,126
Telecom Plus PLC		5,138		141,233
THG PLC^(a)		61,099		50,947
TI Fluid Systems PLC^(b)		27,948		59,491
TORM PLC, Class A^(a)		2,352		38,437
TP ICAP Group PLC		65,146		94,408
Trainline PLC^(a)(b)		40,045		193,214
Travis Perkins PLC		17,540		225,120
Tritax Big Box REIT PLC		155,011		372,944
Trustpilot Group PLC^(a)(b)		19,645		18,475
Tullow Oil PLC^(a)		92,706		58,187
Tyman PLC		16,323		52,768
UK Commercial Property REIT Ltd.		63,881		59,970
UNITE Group PLC (The)		28,161		401,500
Urban Logistics REIT PLC		39,030		84,334
Vesuvius PLC		18,003		78,883
Victoria PLC^(a)(c)		5,462		24,860
Victrex PLC		7,142		168,216
Virgin Money UK PLC		107,704		187,853
Vistry Group PLC		18,487		208,403
Volex PLC		9,162		35,200
Volution Group PLC		16,464		84,214
Warehouse REIT PLC		34,314		63,099
Watkin Jones PLC		19,551		52,380
Weir Group PLC (The)		21,585		441,387
WH Smith PLC^(a)		10,887		192,161
Wickes Group PLC		21,588		35,833
Wincanton PLC		10,387		47,691
Workspace Group PLC		11,481		82,520
Yellow Cake PLC^(a)(b)		14,533		66,611


Security	Shares		Value


United Kingdom (continued)

YouGov PLC		8,801	$	117,361
Young & Co’s Brewery PLC, Series A		1,874		28,299


				34,851,113

United States — 0.0%
GXO Logistics Inc.^(a)		1		48


Total Common Stocks — 98.7% (Cost: $159,953,391)				107,745,764


Preferred Stocks

Germany — 0.5%
Draegerwerk AG & Co. KGaA, Preference Shares, NVS		673		35,312
Einhell Germany AG, Preference Shares, NVS		126		17,563
Fuchs Petrolub SE, Preference Shares, NVS		5,784		173,306
Jungheinrich AG, Preference Shares, NVS		3,997		108,796
Schaeffler AG, Preference Shares, NVS		10,365		61,055
Sixt SE, Preference Shares, NVS		1,361		96,017
STO SE & Co. KGaA, Preference Shares, NVS		210		32,585


				524,634

Italy — 0.0%
Danieli & C Officine Meccaniche SpA, Preference Shares, NVS		3,067		43,508


Total Preferred Stocks — 0.5% (Cost: $786,729)				568,142


Warrants

Italy — 0.0%
Webuild SpA (Expires 08/02/30)^(a)(c)		5,951		—


Total Warrants — 0.0% (Cost: $0)				—


Total Long-Term Investments — 99.2% (Cost: $160,740,120)				108,313,906


Security	Shares		Value


Short-Term Securities

Money Market Funds — 4.6%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		4,949,251	$	4,948,756
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		30,000		30,000


Total Short-Term Securities — 4.6% (Cost: $4,979,188)				4,978,756


Total Investments in Securities — 103.8% (Cost: $165,719,308)				113,292,662

Liabilities in Excess of Other Assets — (3.8)%				(4,115,192	)


Net Assets — 100.0%			$	109,177,470

^(a)	Non-income producing security.

^(b)	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.

^(c)	All or a portion of this security is on loan.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value


Common Stocks

Australia — 2.5%
Ampol Ltd.		923	$	21,867
APA Group		4,458		36,553
Aristocrat Leisure Ltd.		2,037		50,819
ASX Ltd.		615		38,225
Aurizon Holdings Ltd.		5,071		14,352
Australia & New Zealand Banking Group Ltd.		9,285		150,057
Australia & New Zealand Banking Group Ltd., New		619		9,904
BHP Group Ltd.		16,907		462,666
BlueScope Steel Ltd.		1,806		21,214
Brambles Ltd.		4,382		35,269
Cochlear Ltd.		197		29,693
Coles Group Ltd.		4,880		64,271
Commonwealth Bank of Australia		5,687		403,876
Computershare Ltd.		1,844		32,578
CSL Ltd.		1,609		327,620
Dexus		3,613		24,279
Domino’s Pizza Enterprises Ltd.		193		9,868
Endeavour Group Ltd./Australia		4,266		23,768
Evolution Mining Ltd.		5,149		9,512
Fortescue Metals Group Ltd.		5,956		76,645
Glencore PLC		32,911		186,530
Goodman Group		5,610		82,103
GPT Group (The)		6,533		21,018
IDP Education Ltd.^(a)		692		13,923
Insurance Australia Group Ltd.		7,417		23,338
Lendlease Corp. Ltd.		1,998		14,475
Lottery Corp. Ltd. (The)^(b)		9,204		29,196
Macquarie Group Ltd.		1,233		157,804
Medibank Pvt Ltd.		9,490		22,819
Mineral Resources Ltd.		571		21,757
Mirvac Group		14,867		22,523
National Australia Bank Ltd.		10,729		231,709
Newcrest Mining Ltd.		2,897		39,041
Northern Star Resources Ltd.		3,728		20,488
Orica Ltd.		1,345		15,941
Origin Energy Ltd.		6,071		25,488
Qantas Airways Ltd.^(b)		2,536		8,172
QBE Insurance Group Ltd.		4,574		36,984
Ramsay Health Care Ltd.		615		30,382
REA Group Ltd.		154		13,587
Reece Ltd.		999		10,790
Rio Tinto Ltd.		1,230		85,220
Rio Tinto PLC		3,752		226,506
Santos Ltd.		10,836		56,330
Scentre Group		15,558		31,882
SEEK Ltd.		1,076		17,428
Sonic Healthcare Ltd.		1,461		35,183
South32 Ltd.		16,636		45,343
Stockland		8,644		23,423
Suncorp Group Ltd.		4,228		33,390
Telstra Corp. Ltd.		14,637		40,003
Transurban Group		9,953		101,736
Treasury Wine Estates Ltd.		2,383		20,542
Vicinity Centres		11,335		16,585
Washington H Soul Pattinson & Co. Ltd.		730		13,216
Wesfarmers Ltd.		3,843		125,918
Westpac Banking Corp.		11,926		180,597
WiseTech Global Ltd.		500		17,707


Security	Shares		Value


Australia (continued)
Woodside Energy Group Ltd.		6,384	$	144,154
Woolworths Group Ltd.		3,920		103,132


				4,189,399

Austria — 0.1%
Erste Group Bank AG		1,230		31,184
OMV AG		538		22,913
Verbund AG		231		25,402
voestalpine AG		423		9,525


				89,024

Belgium — 0.2%
Ageas SA/NV		462		20,164
Anheuser-Busch InBev SA/NV		2,923		156,579
D’ieteren Group		84		13,787
Elia Group SA/NV		121		18,369
Groupe Bruxelles Lambert SA		385		34,078
KBC Group NV		846		44,311
Proximus SADP		501		6,942
Sofina SA		39		9,133
Solvay SA		269		23,627
UCB SA		424		33,131
Umicore SA		692		25,066
Warehouses De Pauw CVA		503		17,099


				402,286

Canada — 3.8%
Agnico Eagle Mines Ltd.		1,523		65,485
Air Canada^(b)		461		6,260
Algonquin Power & Utilities Corp.		2,498		34,938
Alimentation Couche-Tard Inc.		2,772		123,842
AltaGas Ltd.		806		17,957
ARC Resources Ltd.		2,323		32,581
Bank of Montreal		2,155		214,835
Bank of Nova Scotia (The)		4,025		245,200
Barrick Gold Corp.		5,735		90,377
Bausch Health Companies Inc.^(b)		1,153		5,312
BCE Inc.		231		11,671
BlackBerry Ltd.^(b)		1,652		10,153
Brookfield Asset Management Inc., Class A		4,765		236,436
Brookfield Renewable Corp., Class A		423		16,549
BRP Inc.		129		9,812
CAE Inc.^(b)		976		25,822
Cameco Corp.		1,385		35,670
Canadian Apartment Properties REIT		269		10,190
Canadian Imperial Bank of Commerce		3,076		155,608
Canadian National Railway Co.		2,026		256,669
Canadian Natural Resources Ltd.		3,894		215,021
Canadian Pacific Railway Ltd.		3,105		244,826
Canadian Tire Corp. Ltd., Class A, NVS		219		28,135
Canadian Utilities Ltd., Class A, NVS		461		14,922
CCL Industries Inc., Class B, NVS		500		25,118
Cenovus Energy Inc.		4,551		86,716
CGI Inc.^(b)		769		65,938
Constellation Software Inc.		69		117,377
Dollarama Inc.		886		53,698
Emera Inc.		846		40,108
Empire Co. Ltd., Class A, NVS		500		15,173
Enbridge Inc.		6,839		307,142
Fairfax Financial Holdings Ltd.		77		41,478
First Quantum Minerals Ltd.		2,057		37,588
FirstService Corp.		153		20,468


Security	Shares		Value


Canada (continued)
Fortis Inc.		1,575	$	74,399
Franco-Nevada Corp.		653		83,614
George Weston Ltd.		269		32,107
GFL Environmental Inc.		615		17,021
Gildan Activewear Inc.		692		20,281
Great-West Lifeco Inc.		1,000		24,302
Hydro One Ltd.^(c)		1,115		31,128
iA Financial Corp. Inc.		385		21,184
IGM Financial Inc.		280		8,130
Imperial Oil Ltd.		762		36,519
Intact Financial Corp.		615		91,538
Ivanhoe Mines Ltd., Class A^(b)		2,037		12,662
Keyera Corp.		692		17,936
Kinross Gold Corp.		3,959		13,572
Lightspeed Commerce Inc.^(b)		345		7,404
Loblaw Companies Ltd.		577		52,525
Lundin Mining Corp.		2,229		12,568
Magna International Inc.		962		61,429
Manulife Financial Corp.		6,340		116,051
Metro Inc.		885		49,007
National Bank of Canada^(a)		1,153		80,900
Northland Power Inc.		653		21,407
Nutrien Ltd.		1,873		160,336
Nuvei Corp.^(b)(c)		155		5,418
Onex Corp.		270		14,430
Open Text Corp.		884		36,159
Pan American Silver Corp.		654		13,309
Parkland Corp.		500		14,029
Pembina Pipeline Corp.		1,738		66,355
Power Corp. of Canada		1,998		54,297
Quebecor Inc., Class B		461		10,242
Restaurant Brands International Inc.		961		51,519
RioCan REIT		500		8,024
Ritchie Bros Auctioneers Inc.		385		27,750
Rogers Communications Inc., Class B, NVS		1,102		50,662
Royal Bank of Canada		4,729		461,101
Saputo Inc.		1,000		24,700
Shaw Communications Inc., Class B, NVS		1,575		42,605
Shopify Inc., Class A^(b)		3,840		133,773
Sun Life Financial Inc.		1,921		89,198
Suncor Energy Inc.		4,752		161,276
TC Energy Corp.		3,305		176,200
Teck Resources Ltd., Class B		1,607		47,248
TELUS Corp.		1,499		34,509
TFI International Inc.		270		26,967
Thomson Reuters Corp.		606		68,046
TMX Group Ltd.		192		19,700
Toromont Industries Ltd.		270		22,740
Toronto-Dominion Bank (The)		6,085		395,260
Tourmaline Oil Corp.		1,038		65,034
Waste Connections Inc.		884		117,899
West Fraser Timber Co. Ltd.		204		19,099
Wheaton Precious Metals Corp.		1,461		50,132
WSP Global Inc.		385		46,451


				6,319,227

Denmark — 0.8%
AP Moller - Maersk A/S, Class A		11		29,469
AP Moller - Maersk A/S, Class B, NVS		18		49,146
Carlsberg A/S, Class B		308		39,837
Chr Hansen Holding A/S		346		22,647


Security	Shares		Value


Denmark (continued)
Coloplast A/S, Class B		384	$	44,943
Danske Bank A/S		2,383		33,325
Demant A/S^(b)		385		14,667
DSV A/S		639		107,672
Genmab A/S^(b)		231		82,194
GN Store Nord A/S		423		14,731
Novo Nordisk A/S, Class B		5,624		655,048
Novozymes A/S, Class B		653		41,714
Orsted A/S^(c)		615		71,596
Pandora A/S		347		25,779
Rockwool A/S, Class B		38		9,416
Tryg A/S		1,346		30,691
Vestas Wind Systems A/S		3,306		86,894


				1,359,769

Finland — 0.3%
Elisa OYJ		538		29,754
Fortum OYJ		1,575		17,678
Kesko OYJ, Class B		923		22,829
Kone OYJ, Class B		1,114		50,911
Neste OYJ		1,422		73,121
Nokia OYJ		17,671		92,041
Nordea Bank Abp		10,655		105,058
Orion OYJ, Class B		346		16,517
Sampo OYJ, Class A		1,729		74,698
Stora Enso OYJ, Class R		1,806		27,931
UPM-Kymmene OYJ		1,647		52,193
Wartsila OYJ Abp		1,460		12,828


				575,559

France — 3.2%
Accor SA^(b)		654		16,971
Aeroports de Paris^(b)		115		15,890
Air Liquide SA		1,739		239,082
Airbus SE		1,999		215,535
Alstom SA^(a)		923		21,936
Amundi SA^(c)		230		12,488
ArcelorMittal SA		2,070		51,075
Arkema SA		230		21,789
AXA SA		6,388		147,195
BioMerieux		154		16,669
BNP Paribas SA		3,710		175,287
Bollore SE		2,844		14,359
Bouygues SA		731		22,098
Bureau Veritas SA		884		24,381
Capgemini SE		539		102,807
Carrefour SA		1,960		33,402
Cie Generale des Etablissements Michelin SCA		2,308		64,588
Cie. de Saint-Gobain		1,618		75,447
Covivio		192		12,143
Credit Agricole SA		3,887		35,814
Danone SA		2,263		124,780
Dassault Aviation SA		77		11,013
Dassault Systemes SE		2,305		98,865
Edenred		807		41,424
Eiffage SA^(a)		269		25,243
Electricite de France SA		1,640		19,917
Engie SA		6,032		74,630
EssilorLuxottica SA		961		150,668
Eurazeo SE		154		11,000
Eurofins Scientific SE		424		33,054


Security	Shares		Value


France (continued)
Gecina SA		116	$	11,894
Getlink SE		1,575		31,523
Hermes International		107		146,798
Ipsen SA		115		11,633
Kering SA		251		143,695
Klepierre SA		730		16,221
La Francaise des Jeux SAEM^(c)		307		10,965
Legrand SA		943		77,202
L’Oreal SA		797		301,312
LVMH Moet Hennessy Louis Vuitton SE		940		652,693
Orange SA		6,878		70,282
Pernod Ricard SA		688		135,154
Publicis Groupe SA		731		38,900
Remy Cointreau SA		77		15,212
Renault SA^(b)		653		19,305
Safran SA		1,149		126,293
Sanofi		3,798		377,421
Sartorius Stedim Biotech		103		41,204
Schneider Electric SE		1,783		246,596
SEB SA		77		6,483
Societe Generale SA		2,690		60,273
Sodexo SA		308		25,026
Teleperformance		193		64,539
Thales SA		347		43,153
TotalEnergies SE		8,280		422,920
Ubisoft Entertainment SA^(a)(b)		308		13,113
Unibail-Rodamco-Westfield^(a)(b)		384		21,805
Valeo		846		18,172
Veolia Environnement SA		2,305		57,650
Vinci SA		1,768		169,478
Vivendi SE		2,421		22,983
Wendel SE		115		10,585
Worldline SA/France^(b)(c)		731		32,265


				5,352,298

Germany — 2.0%
adidas AG		589		101,892
Allianz SE, Registered		1,384		251,343
Aroundtown SA^(a)		3,151		10,105
BASF SE		3,036		135,300
Bayer AG, Registered		3,275		191,031
Bayerische Motoren Werke AG		1,115		91,110
Bechtle AG		270		12,489
Beiersdorf AG		346		35,681
Brenntag SE		538		37,792
Carl Zeiss Meditec AG, Bearer		115		16,783
Commerzbank AG^(b)		3,766		25,801
Continental AG		347		24,721
Covestro AG^(c)		615		20,741
Daimler Truck Holding AG^(b)		1,422		38,856
Delivery Hero SE^(b)(c)		538		25,957
Deutsche Bank AG, Registered		6,918		60,511
Deutsche Boerse AG		653		113,991
Deutsche Lufthansa AG, Registered^(a)(b)		1,653		10,176
Deutsche Post AG, Registered		3,383		135,117
Deutsche Telekom AG, Registered		10,946		207,963
E.ON SE		7,647		68,740
Evonik Industries AG		769		16,402
Fresenius Medical Care AG & Co. KGaA		654		24,246
Fresenius SE & Co. KGaA		1,422		36,387
GEA Group AG		422		15,752


Security	Shares		Value


Germany (continued)
Hannover Rueck SE		231	$	32,767
HeidelbergCement AG		500		25,468
HelloFresh SE^(b)		615		16,998
Henkel AG & Co. KGaA		384		24,213
Infineon Technologies AG		4,459		122,286
KION Group AG		269		12,270
Knorr-Bremse AG		269		16,026
LEG Immobilien SE		231		20,985
Mercedes-Benz Group AG		2,617		154,335
Merck KGaA		423		80,565
MTU Aero Engines AG		192		37,116
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered		462		104,738
Nemetschek SE		192		12,854
Puma SE		346		23,363
QIAGEN NV^(b)		769		38,540
Rational AG		17		11,850
Rheinmetall AG		147		26,956
RWE AG		2,074		85,320
SAP SE		3,487		325,242
Scout24 SE^(c)		211		12,063
Siemens AG, Registered		2,594		289,345
Siemens Healthineers AG^(c)		923		47,298
Symrise AG		423		49,358
Telefonica Deutschland Holding AG		2,728		7,253
Uniper SE^(a)		308		2,058
United Internet AG, Registered		205		5,400
Volkswagen AG		77		15,251
Vonovia SE		2,316		77,169
Zalando SE^(b)(c)		769		21,650


				3,407,624

Hong Kong — 0.9%
AIA Group Ltd.		41,000		411,912
BOC Hong Kong Holdings Ltd.		12,500		45,216
Budweiser Brewing Co. APAC Ltd.^(c)		7,600		21,044
Chow Tai Fook Jewellery Group Ltd.		7,600		15,031
CK Asset Holdings Ltd.		6,836		48,397
CK Hutchison Holdings Ltd.		8,836		58,612
CK Infrastructure Holdings Ltd.		2,000		12,542
CLP Holdings Ltd.		5,500		46,638
ESR Group Ltd.^(b)(c)		7,800		20,283
Futu Holdings Ltd., ADR^(b)		171		7,114
Galaxy Entertainment Group Ltd.		7,000		41,643
Hang Lung Properties Ltd.		7,000		12,771
Hang Seng Bank Ltd.		2,600		41,940
Henderson Land Development Co. Ltd.		4,523		15,745
HK Electric Investments & HK Electric Investments Ltd., Class SS		9,000		8,140
HKT Trust & HKT Ltd., Class SS		12,740		17,850
Hong Kong & China Gas Co. Ltd.		38,618		40,786
Hong Kong Exchanges & Clearing Ltd.		4,100		188,151
Hongkong Land Holdings Ltd.		3,800		19,753
Jardine Matheson Holdings Ltd.		700		36,971
Link REIT		6,700		56,108
MTR Corp. Ltd.		5,000		26,477
New World Development Co. Ltd.		5,583		18,669
Power Assets Holdings Ltd.		4,500		29,465
Sands China Ltd.^(b)		8,000		18,764
Sino Land Co. Ltd.		12,000		17,830
SITC International Holdings Co. Ltd.		4,000		13,620


Security	Shares		Value

Hong Kong (continued)
Sun Hung Kai Properties Ltd.		4,500	$	53,717
Swire Pacific Ltd., Class A		1,500		8,543
Swire Properties Ltd.		4,000		9,531
Techtronic Industries Co. Ltd.		4,393		48,747
WH Group Ltd.^(c)		27,000		20,448
Wharf Real Estate Investment Co. Ltd.		6,000		26,707
Xinyi Glass Holdings Ltd.		5,000		9,862


				1,469,027

Ireland — 0.6%
CRH PLC		2,503		96,051
Flutter Entertainment PLC, Class DI^(b)		539		54,115
James Hardie Industries PLC		1,500		37,045
Kerry Group PLC, Class A		539		56,892
Kingspan Group PLC		538		34,824
Linde PLC		1,712		517,024
Seagate Technology Holdings PLC		730		58,385
Smurfit Kappa Group PLC		885		32,079
STERIS PLC		346		78,075
Trane Technologies PLC		807		118,621


				1,083,111

Israel — 0.2%
Azrieli Group Ltd.		154		12,344
Bank Hapoalim BM		4,010		37,373
Bank Leumi Le-Israel BM		4,896		47,607
Check Point Software Technologies Ltd.^(b)		346		43,112
CyberArk Software Ltd.^(a)(b)		169		21,992
Elbit Systems Ltd.		77		17,767
ICL Group Ltd.		2,459		22,407
Isracard Ltd.		1		2
Israel Discount Bank Ltd., Class A		4,151		23,602
Kornit Digital Ltd.^(b)		154		4,190
Mizrahi Tefahot Bank Ltd.		424		15,763
Nice Ltd.^(b)		231		49,318
Teva Pharmaceutical Industries Ltd., ADR^(b)		3,689		34,603
Tower Semiconductor Ltd.^(b)		369		17,589
Wix.com Ltd.^(b)		193		11,451
ZIM Integrated Shipping Services Ltd.		284		14,149


				373,269

Italy — 0.6%
Amplifon SpA		423		13,988
Assicurazioni Generali SpA		3,613		54,013
Atlantia SpA		1,690		39,057
DiaSorin SpA		77		10,706
Enel SpA		27,774		140,016
Eni SpA		8,214		98,737
Ferrari NV		427		90,679
FinecoBank Banca Fineco SpA		2,072		25,751
Infrastrutture Wireless Italiane SpA^(c)		845		8,880
Intesa Sanpaolo SpA		56,511		100,353
Mediobanca Banca di Credito Finanziario SpA		2,190		18,783
Moncler SpA		615		30,829
Nexi SpA^(b)(c)		2,186		19,853
Poste Italiane SpA^(c)		1,806		15,171
Prysmian SpA		766		24,356
Recordati Industria Chimica e Farmaceutica SpA		384		17,030
Snam SpA		6,301		31,616
Stellantis NV		7,526		108,075
Telecom Italia SpA/Milano^(b)		30,041		6,665
Tenaris SA		1,614		22,586


Security	Shares		Value

Italy (continued)
Terna - Rete Elettrica Nazionale		4,535	$	34,719
UniCredit SpA		6,919		68,427


				980,290

Malta — 0.0%
BGP Holdings PLC, NVS^(b)(d)		38,252		—


Netherlands — 1.4%
ABN AMRO Bank NV, CVA^(c)		1,575		16,062
Adyen NV^(b)(c)		71		127,713
Aegon NV		6,456		28,356
AerCap Holdings NV^(b)		453		20,322
Akzo Nobel NV		615		41,390
Argenx SE^(b)		154		56,256
ASM International NV		154		47,304
ASML Holding NV		1,358		780,521
Davide Campari-Milano NV		2,036		22,603
Euronext NV^(c)		307		25,014
EXOR NV		347		24,405
Heineken Holding NV		278		21,967
Heineken NV		846		83,404
IMCD NV		192		30,749
ING Groep NV		13,341		129,592
JDE Peet’s NV		269		7,802
Just Eat Takeaway.com NV^(b)(c)		615		11,273
Koninklijke Ahold Delhaize NV		3,497		96,303
Koninklijke DSM NV		577		92,406
Koninklijke KPN NV		11,526		38,024
Koninklijke Philips NV		2,998		62,047
NN Group NV		884		41,479
NXP Semiconductors NV		884		162,550
OCI NV		356		12,359
Prosus NV, Class N		2,825		184,289
Randstad NV		423		21,380
Universal Music Group NV		2,421		54,803
Wolters Kluwer NV		923		100,240


				2,340,613

New Zealand — 0.1%
Auckland International Airport Ltd.^(b)		3,383		15,886
Fisher & Paykel Healthcare Corp. Ltd.		1,960		26,210
Mercury NZ Ltd.		2,344		8,966
Meridian Energy Ltd.		4,574		14,354
Spark New Zealand Ltd.		6,032		19,396
Xero Ltd.^(b)		416		27,406


				112,218

Norway — 0.2%
Adevinta ASA^(b)		808		6,144
Aker BP ASA		1,118		38,846
DNB Bank ASA		2,998		59,138
Equinor ASA		3,321		127,871
Gjensidige Forsikring ASA		693		14,495
Kongsberg Gruppen ASA		302		11,128
Mowi ASA		1,482		34,197
Norsk Hydro ASA		4,534		30,719
Orkla ASA		2,767		23,886
Salmar ASA		199		14,254
Telenor ASA		2,536		30,798
Yara International ASA		577		24,590


				416,066


Security	Shares		Value

Portugal — 0.1%
EDP - Energias de Portugal SA		8,914	$	45,095
Galp Energia SGPS SA		1,767		18,652
Jeronimo Martins SGPS SA		961		22,244


				85,991

Singapore — 0.4%
Ascendas Real Estate Investment Trust		11,477		24,704
CapitaLand Integrated Commercial Trust		15,431		24,377
Capitaland Investment Ltd/Singapore		7,700		21,909
City Developments Ltd.		1,600		8,989
DBS Group Holdings Ltd.		6,100		139,192
Genting Singapore Ltd.		19,300		11,272
Grab Holdings Ltd., Class A^(a)(b)		3,638		10,732
Keppel Corp. Ltd.		4,300		21,484
Mapletree Commercial Trust		7,700		10,607
Mapletree Logistics Trust		11,443		14,605
Oversea-Chinese Banking Corp. Ltd.		11,525		97,671
Sea Ltd., ADR^(a)(b)		1,213		92,576
Singapore Airlines Ltd.^(b)		6,100		24,132
Singapore Exchange Ltd.		1,200		8,602
Singapore Technologies Engineering Ltd.		7,200		20,993
Singapore Telecommunications Ltd.		26,900		50,870
United Overseas Bank Ltd.		3,900		77,810
UOL Group Ltd.		1,600		8,645
Venture Corp. Ltd.		900		11,466
Wilmar International Ltd.		7,700		22,437


				703,073

Spain — 0.7%
Acciona SA		83		17,079
ACS Actividades de Construccion y Servicios SA		803		19,302
Aena SME SA^(b)(c)		229		28,966
Amadeus IT Group SA^(b)		1,499		87,407
Banco Bilbao Vizcaya Argentaria SA		22,706		102,896
Banco Santander SA		58,683		146,817
CaixaBank SA		15,136		45,449
Cellnex Telecom SA^(c)		1,731		77,426
EDP Renovaveis SA		962		25,021
Enagas SA		594		11,725
Endesa SA		1,039		19,044
Ferrovial SA		1,470		39,364
Grifols SA		1,039		15,161
Iberdrola SA		19,769		211,103
Iberdrola SA, NVS		549		5,854
Industria de Diseno Textil SA		3,792		92,096
Naturgy Energy Group SA		654		19,183
Red Electrica Corp. SA		961		18,894
Repsol SA		4,879		60,784
Siemens Gamesa Renewable Energy SA^(b)		808		14,867
Telefonica SA		18,407		82,163


				1,140,601

Sweden — 1.0%
Alfa Laval AB		1,153		34,477
Assa Abloy AB, Class B		3,506		82,833
Atlas Copco AB, Class A		9,224		107,823
Atlas Copco AB, Class B		5,380		55,886
Boliden AB		884		29,542
Electrolux AB, Class B		653		9,419
Embracer Group AB^(a)(b)		1,764		13,443
Epiroc AB, Class A		2,306		40,774
Epiroc AB, Class B		1,345		21,363


Security	Shares		Value

Sweden (continued)
EQT AB		1,038	$	28,175
Essity AB, Class B		2,037		51,852
Evolution AB^(c)		577		55,987
Fastighets AB Balder, Class B^(b)		2,076		13,262
Getinge AB, Class B		769		17,353
H & M Hennes & Mauritz AB, Class B		2,421		30,976
Hexagon AB, Class B		6,417		75,557
Holmen AB, Class B		317		13,026
Husqvarna AB, Class B		1,077		8,583
Industrivarden AB, Class A		423		11,037
Industrivarden AB, Class C		500		12,900
Indutrade AB		924		21,717
Investment AB Latour, Class B		500		12,441
Investor AB, Class A		1,690		34,747
Investor AB, Class B		6,147		114,714
Kinnevik AB, Class B^(b)		846		15,238
L E Lundbergforetagen AB, Class B		270		12,814
Lifco AB, Class B		770		14,989
Nibe Industrier AB, Class B		4,842		48,779
Sagax AB, Class B		538		13,865
Sandvik AB		3,728		68,693
Securitas AB, Class B		1,153		11,659
Sinch AB^(a)(b)(c)		1,499		3,801
Skandinaviska Enskilda Banken AB, Class A		5,340		57,850
Skanska AB, Class B		1,269		21,649
SKF AB, Class B		1,384		23,292
Svenska Cellulosa AB SCA, Class B		1,922		28,099
Svenska Handelsbanken AB, Class A		4,585		41,228
Swedbank AB, Class A		3,113		43,115
Swedish Match AB		4,987		52,206
Swedish Orphan Biovitrum AB^(b)		571		12,540
Tele2 AB, Class B		2,206		25,201
Telefonaktiebolaget LM Ericsson, Class B		9,990		75,986
Telia Co. AB		8,952		33,072
Volvo AB, Class A		692		12,894
Volvo AB, Class B		5,103		91,619
Volvo Car AB, Class B^(a)(b)		2,015		15,003


				1,621,479

Switzerland — 3.2%
ABB Ltd., Registered		5,533		168,201
Adecco Group AG, Registered		577		20,326
Alcon Inc.		1,698		133,640
Bachem Holding AG, Class A		80		5,395
Baloise Holding AG, Registered		154		24,537
Barry Callebaut AG, Registered		12		26,588
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS		4		44,235
Cie. Financiere Richemont SA, Class A, Registered		1,725		207,996
Clariant AG, Registered		615		11,522
Coca-Cola HBC AG, Class DI		654		16,096
Credit Suisse Group AG, Registered		8,873		51,610
EMS-Chemie Holding AG, Registered		24		19,058
Geberit AG, Registered		116		61,094
Givaudan SA, Registered		31		108,362
Holcim AG		1,808		84,775
Julius Baer Group Ltd.		752		38,886
Kuehne + Nagel International AG, Registered		192		51,710
Logitech International SA, Registered		615		34,601
Lonza Group AG, Registered		254		154,369
Nestle SA, Registered		9,468		1,160,088


Security	Shares		Value

Switzerland (continued)
Novartis AG, Registered		7,317	$	628,747
Partners Group Holding AG		72		78,606
Roche Holding AG, Bearer		103		41,989
Roche Holding AG, NVS		2,346		778,883
Schindler Holding AG, Participation Certificates, NVS		154		30,101
Schindler Holding AG, Registered		77		14,621
SGS SA, Registered		20		48,809
Siemens Energy AG^(b)		1,307		21,719
Sika AG, Registered		499		123,297
Sonova Holding AG, Registered		192		69,155
STMicroelectronics NV		2,228		84,315
Straumann Holding AG		390		52,748
Swatch Group AG (The), Bearer		115		30,615
Swatch Group AG (The), Registered		154		7,691
Swiss Life Holding AG, Registered		101		53,503
Swiss Prime Site AG, Registered		307		27,957
Swiss Re AG		962		72,185
Swisscom AG, Registered		94		50,820
TE Connectivity Ltd.		1,076		143,893
Temenos AG, Registered		231		18,335
UBS Group AG, Registered		11,955		195,349
VAT Group AG^(c)		78		22,711
Vifor Pharma AG ^(b)		154		26,906
Zurich Insurance Group AG		519		226,558


				5,272,602

United Kingdom — 4.4%
3i Group PLC		3,382		52,549
abrdn PLC		7,032		14,257
Admiral Group PLC		693		16,196
Amcor PLC		5,148		66,667
Anglo American PLC		4,212		152,242
Antofagasta PLC		1,192		16,961
Ashtead Group PLC		1,537		86,517
Associated British Foods PLC		1,230		25,123
AstraZeneca PLC		5,222		686,908
Auto Trader Group PLC^(c)		3,671		28,302
AVEVA Group PLC		385		11,138
Aviva PLC		8,774		42,491
BAE Systems PLC		10,372		97,484
Barclays PLC		56,819		108,840
Barratt Developments PLC		3,306		20,271
Berkeley Group Holdings PLC		423		21,921
BP PLC		64,805		317,172
British American Tobacco PLC		7,271		284,904
British Land Co. PLC (The)		3,306		19,878
BT Group PLC		23,669		46,730
Bunzl PLC		1,192		44,737
Burberry Group PLC		1,422		31,261
Clarivate PLC^(a)(b)		1,153		16,707
CNH Industrial NV		3,343		43,067
Coca-Cola Europacific Partners PLC		653		35,340
Compass Group PLC		5,736		134,431
Croda International PLC		500		45,725
DCC PLC		346		22,590
Diageo PLC		7,726		365,995
Entain PLC^(b)		1,780		26,193
Experian PLC		2,997		104,932
Ferguson PLC		731		91,959
GSK PLC		13,651		286,810
Haleon PLC^(b)		17,064		60,638


Security	Shares		Value

United Kingdom (continued)
Halma PLC		1,307	$	36,809
Hargreaves Lansdown PLC		1,191		12,330
Hikma Pharmaceuticals PLC		692		14,627
HSBC Holdings PLC		67,638		423,682
Imperial Brands PLC		2,894		63,542
Informa PLC^(b)		5,455		39,672
InterContinental Hotels Group PLC		572		33,905
Intertek Group PLC		577		30,838
J Sainsbury PLC		5,379		14,510
JD Sports Fashion PLC		9,337		14,831
Johnson Matthey PLC		692		18,092
Kingfisher PLC		7,378		23,343
Land Securities Group PLC		2,613		23,350
Legal & General Group PLC		19,670		62,816
Lloyds Banking Group PLC		228,938		126,753
London Stock Exchange Group PLC		1,121		109,401
M&G PLC		9,106		23,737
Melrose Industries PLC		14,752		29,039
Mondi PLC		1,690		32,071
National Grid PLC		11,870		163,445
NatWest Group PLC		19,747		59,977
Next PLC		424		35,299
Ocado Group PLC^(a)(b)		1,538		15,811
Pearson PLC		2,459		22,759
Persimmon PLC		1,039		23,966
Phoenix Group Holdings PLC		2,902		22,864
Prudential PLC		8,812		108,691
Reckitt Benckiser Group PLC		2,319		188,105
RELX PLC		6,448		190,922
Rentokil Initial PLC		6,455		42,622
Rolls-Royce Holdings PLC^(b)		28,081		30,691
Royalty Pharma PLC, Class A		1,153		50,144
Sage Group PLC (The)		3,690		31,801
Schroders PLC		423		15,343
Segro PLC		3,959		52,963
Severn Trent PLC		807		29,013
Shell PLC		25,410		677,845
Smith & Nephew PLC		2,997		38,425
Smiths Group PLC		1,346		25,402
Spirax-Sarco Engineering PLC		269		39,249
SSE PLC		3,675		79,374
St. James’s Place PLC		1,806		27,128
Standard Chartered PLC		8,414		57,995
Taylor Wimpey PLC		13,794		21,470
Tesco PLC		25,469		81,683
Unilever PLC		8,679		422,692
United Utilities Group PLC		2,267		30,121
Vodafone Group PLC		87,416		128,821
Whitbread PLC		692		22,026
WPP PLC		3,630		39,176


				7,336,107

United States — 72.9%
3M Co.		1,900		272,156
A O Smith Corp.		385		24,359
Abbott Laboratories		5,890		641,068
AbbVie Inc.		5,907		847,714
Abiomed Inc.^(b)		154		45,124
Accenture PLC, Class A		2,111		646,515
Activision Blizzard Inc.		2,613		208,909
Adobe Inc.^(b)		1,575		645,939


Security	Shares		Value

United States (continued)
Advance Auto Parts Inc.		185	$	35,820
Advanced Micro Devices Inc.^(b)		5,460		515,806
AES Corp. (The)		2,113		46,951
Affirm Holdings Inc.^(b)		560		15,030
Aflac Inc.		2,048		117,350
Agilent Technologies Inc.		999		133,966
Air Products and Chemicals Inc.		735		182,449
Airbnb Inc., Class A^(b)		1,130		125,407
Akamai Technologies Inc.^(b)		538		51,766
Albemarle Corp.		385		94,059
Alcoa Corp.		624		31,755
Alexandria Real Estate Equities Inc.		499		82,724
Align Technology Inc.^(b)		237		66,590
Alleghany Corp.^(b)		50		41,874
Allegion PLC		270		28,539
Alliant Energy Corp.		790		48,135
Allstate Corp. (The)		933		109,133
Ally Financial Inc.		1,062		35,120
Alnylam Pharmaceuticals Inc.^(b)		385		54,685
Alphabet Inc., Class A^(b)		20,160		2,345,011
Alphabet Inc., Class C, NVS^(b)		18,980		2,213,827
Altria Group Inc.		6,030		264,476
Amazon.com Inc.^(b)		30,660		4,137,567
AMC Entertainment Holdings Inc., Class A^(b)		1,690		24,606
AMERCO		38		20,409
Ameren Corp.		846		78,780
American Electric Power Co. Inc.		1,690		166,566
American Express Co.		2,148		330,835
American Financial Group Inc./OH		261		34,890
American Homes 4 Rent, Class A		1,058		40,077
American International Group Inc.		2,699		139,727
American Tower Corp.		1,539		416,807
American Water Works Co. Inc.		615		95,596
Ameriprise Financial Inc.		353		95,282
AmerisourceBergen Corp.		552		80,553
AMETEK Inc.		801		98,924
Amgen Inc.		1,855		459,057
Amphenol Corp., Class A		2,037		157,114
Analog Devices Inc.		1,731		297,663
Annaly Capital Management Inc.		5,033		34,627
Ansys Inc.^(b)		307		85,650
Aon PLC, Class A		729		212,168
APA Corp.		1,173		43,600
Apollo Global Management Inc.		1,268		72,403
Apple Inc.		54,575		8,868,983
Applied Materials Inc.		2,992		317,092
AppLovin Corp., Class A^(a)(b)		402		14,287
Aptiv PLC^(b)		923		96,813
Aramark		846		28,256
Arch Capital Group Ltd.		1,204		53,458
Archer-Daniels-Midland Co.		1,921		159,001
Arista Networks Inc.^(b)		852		99,369
Arrow Electronics Inc.^(b)		231		29,607
Arthur J Gallagher & Co.		714		127,799
Assurant Inc.		193		33,926
AT&T Inc.		23,856		448,016
Atmos Energy Corp.		462		56,082
Autodesk Inc.^(b)		731		158,130
Automatic Data Processing Inc.		1,422		342,873
AutoZone Inc.^(b)		70		149,617


Security	Shares		Value

United States (continued)
Avalara Inc.^(b)		307	$	26,838
AvalonBay Communities Inc.^(a)		462		98,840
Avantor Inc.^(b)		2,063		59,868
Avery Dennison Corp.		269		51,234
Baker Hughes Co.		3,224		82,825
Ball Corp.		1,076		79,000
Bank of America Corp.		24,256		820,095
Bank of New York Mellon Corp. (The)		2,580		112,127
Bath & Body Works Inc.		808		28,716
Baxter International Inc.		1,720		100,895
Becton Dickinson and Co.		961		234,782
Bentley Systems Inc., Class B^(a)		577		22,849
Berkshire Hathaway Inc., Class B^(b)		4,312		1,296,187
Best Buy Co. Inc.		769		59,205
Bill.com Holdings Inc.^(b)		339		45,792
Biogen Inc.^(b)		500		107,530
BioMarin Pharmaceutical Inc.^(b)		615		52,921
Bio-Rad Laboratories Inc., Class A^(b)		77		43,371
Bio-Techne Corp.		139		53,554
Black Knight Inc.^(b)		501		32,906
BlackRock Inc.^(e)		513		343,289
Blackstone Inc., NVS		2,319		236,700
Block Inc.^(b)		22		1,698
Block Inc.^(a)(b)		1,734		131,888
Boeing Co. (The)^(b)		1,836		292,493
Booking Holdings Inc.^(b)		138		267,125
Booz Allen Hamilton Holding Corp.		403		38,680
BorgWarner Inc.		884		33,999
Boston Properties Inc.		533		48,588
Boston Scientific Corp.^(b)		4,723		193,879
Bristol-Myers Squibb Co.		7,280		537,118
Broadcom Inc.		1,368		732,537
Broadridge Financial Solutions Inc.		385		61,812
Brown & Brown Inc.		859		55,921
Brown-Forman Corp., Class B		1,038		77,040
Bunge Ltd.		500		46,165
Burlington Stores Inc.^(b)		231		32,601
Cable One Inc.^(a)		18		24,780
Cadence Design Systems Inc.^(b)		923		171,752
Caesars Entertainment Inc.^(b)		693		31,663
Camden Property Trust		302		42,612
Campbell Soup Co.		797		39,332
Capital One Financial Corp.		1,359		149,259
Cardinal Health Inc.		1,000		59,560
Carlyle Group Inc. (The)		723		28,132
CarMax Inc.^(b)		539		53,652
Carnival Corp.^(b)		3,015		27,316
Carrier Global Corp.		2,808		113,808
Carvana Co., Class A^(a)(b)		231		6,734
Catalent Inc.^(b)		577		65,259
Caterpillar Inc.		1,790		354,868
Cboe Global Markets Inc.		356		43,923
CBRE Group Inc., Class A^(b)		1,115		95,466
CDW Corp./DE		427		77,513
Celanese Corp.		384		45,124
Centene Corp.^(b)		1,987		184,731
CenterPoint Energy Inc.		2,075		65,757
Ceridian HCM Holding Inc.^(a)(b)		461		25,249
CF Industries Holdings Inc.		679		64,838
CH Robinson Worldwide Inc.		461		51,033


Security	Shares		Value

United States (continued)
Charles River Laboratories International Inc.^(b)		155	$	38,834
Charles Schwab Corp. (The)		4,879		336,895
Charter Communications Inc., Class A^(b)		403		174,136
Cheniere Energy Inc.		780		116,672
Chevron Corp.		6,559		1,074,233
Chewy Inc., Class A^(a)(b)		269		10,440
Chipotle Mexican Grill Inc.^(a)(b)		94		147,037
Chubb Ltd.		1,422		268,246
Church & Dwight Co. Inc.		846		74,423
Cigna Corp.		1,061		292,157
Cincinnati Financial Corp.		538		52,369
Cintas Corp.		308		131,051
Cisco Systems Inc.		13,874		629,463
Citigroup Inc.		6,627		343,941
Citizens Financial Group Inc.		1,746		66,296
Citrix Systems Inc.		389		39,449
Cleveland-Cliffs Inc.^(b)		1,774		31,418
Clorox Co. (The)		423		59,998
Cloudflare Inc., Class A^(b)		876		44,080
CME Group Inc.		1,200		239,376
CMS Energy Corp.		962		66,118
Coca-Cola Co. (The)		13,755		882,658
Cognex Corp.		615		31,353
Cognizant Technology Solutions Corp., Class A		1,767		120,085
Coinbase Global Inc., Class A^(a)(b)		405		25,499
Colgate-Palmolive Co.		2,715		213,779
Comcast Corp., Class A		15,108		566,852
Conagra Brands Inc.		1,652		56,515
ConocoPhillips		4,340		422,846
Consolidated Edison Inc.		1,153		114,458
Constellation Brands Inc., Class A		542		133,500
Constellation Energy Corp.		1,115		73,702
Cooper Companies Inc. (The)		177		57,879
Copart Inc.^(b)		730		93,513
Corning Inc.		2,767		101,715
Corteva Inc.		2,373		136,566
CoStar Group Inc.^(b)		1,278		92,770
Costco Wholesale Corp.		1,481		801,665
Coterra Energy Inc.		2,623		80,238
Coupa Software Inc.^(a)(b)		231		15,112
Crowdstrike Holdings Inc., Class A^(b)		670		123,012
Crown Castle International Corp.		1,432		258,705
Crown Holdings Inc.		384		39,045
CSX Corp.		7,456		241,052
Cummins Inc.		459		101,581
CVS Health Corp.		4,383		419,365
Danaher Corp.		2,294		668,632
Darden Restaurants Inc.		424		52,784
Datadog Inc., Class A^(b)		735		74,977
DaVita Inc.^(b)		193		16,243
Deere & Co.		988		339,062
Dell Technologies Inc., Class C		962		43,348
Delta Air Lines Inc.^(b)		500		15,900
DENTSPLY SIRONA Inc.		692		25,023
Devon Energy Corp.		2,102		132,111
Dexcom Inc.^(b)		1,268		104,077
Diamondback Energy Inc.		577		73,868
Digital Realty Trust Inc.		961		127,284
Discover Financial Services		923		93,223
DISH Network Corp., Class A^(b)		807		14,018


Security	Shares		Value

United States (continued)
DocuSign Inc.^(b)		623	$	39,860
Dollar General Corp.		770		191,291
Dollar Tree Inc.^(b)		769		127,162
Dominion Energy Inc.		2,757		226,019
Domino’s Pizza Inc.		116		45,485
DoorDash Inc., Class A^(b)		643		44,849
Dover Corp.		462		61,760
Dow Inc.		2,498		132,919
DR Horton Inc.		1,115		87,003
Dropbox Inc., Class A^(b)		1,000		22,740
DTE Energy Co.		628		81,828
Duke Energy Corp.		2,551		280,431
Duke Realty Corp.		1,307		81,766
DuPont de Nemours Inc.		1,691		103,540
Dynatrace Inc.^(b)		616		23,180
Eastman Chemical Co.		461		44,224
Eaton Corp. PLC		1,346		199,733
eBay Inc.		1,929		93,807
Ecolab Inc.		848		140,064
Edison International		1,234		83,628
Edwards Lifesciences Corp.^(b)		2,113		212,441
Elanco Animal Health Inc.^(b)		1,462		29,620
Electronic Arts Inc.		935		122,700
Elevance Health Inc.		806		384,543
Eli Lilly & Co.		2,704		891,482
Emerson Electric Co.		1,999		180,050
Enphase Energy Inc.^(b)		429		121,913
Entegris Inc.		461		50,664
Entergy Corp.		693		79,785
EOG Resources Inc.		1,966		218,659
EPAM Systems Inc.^(b)		192		67,056
EQT Corp.		1,146		50,458
Equifax Inc.		423		88,369
Equinix Inc.		308		216,752
Equitable Holdings Inc.		1,435		40,797
Equity LifeStyle Properties Inc.		535		39,333
Equity Residential		1,223		95,871
Erie Indemnity Co., Class A, NVS		77		15,659
Essential Utilities Inc.		733		38,072
Essex Property Trust Inc.		221		63,323
Estee Lauder Companies Inc. (The), Class A		768		209,741
Etsy Inc.^(a)(b)		423		43,874
Everest Re Group Ltd.		122		31,885
Evergy Inc.		808		55,154
Eversource Energy		1,136		100,218
Exact Sciences Corp.^(a)(b)		538		24,264
Exelon Corp.		3,343		155,416
Expedia Group Inc.^(b)		499		52,919
Expeditors International of Washington Inc.		577		61,306
Extra Space Storage Inc.		461		87,369
Exxon Mobil Corp.		14,139		1,370,493
F5 Inc.^(b)		193		32,300
FactSet Research Systems Inc.		126		54,140
Fair Isaac Corp.^(b)		92		42,507
Fastenal Co.		1,851		95,067
FedEx Corp.		846		197,194
Fidelity National Financial Inc.		962		38,442
Fidelity National Information Services Inc.		2,036		207,998
Fifth Third Bancorp		2,268		77,384
First Citizens BancShares Inc./NC, Class A		39		29,511


Security	Shares		Value

United States (continued)
First Republic Bank/CA		577	$	93,884
FirstEnergy Corp.		1,767		72,624
Fiserv Inc.^(b)		2,047		216,327
FleetCor Technologies Inc.^(b)		269		59,204
FMC Corp.		390		43,329
Ford Motor Co.		13,141		193,041
Fortinet Inc.^(b)		2,290		136,599
Fortive Corp.		1,191		76,760
Fortune Brands Home & Security Inc., NVS		423		29,475
Fox Corp., Class A, NVS		1,038		34,368
Fox Corp., Class B		577		17,829
Franklin Resources Inc.		1,076		29,536
Freeport-McMoRan Inc.		4,859		153,301
Garmin Ltd.		538		52,520
Gartner Inc.^(b)		270		71,680
Generac Holdings Inc.^(b)		200		53,660
General Dynamics Corp.		776		175,896
General Electric Co.		3,732		275,832
General Mills Inc.		2,075		155,189
General Motors Co.^(b)		4,566		165,563
Genuine Parts Co.		500		76,435
Gilead Sciences Inc.		4,228		252,623
Global Payments Inc.		934		114,247
Globe Life Inc.		308		31,025
GoDaddy Inc., Class A^(b)		615		45,621
Goldman Sachs Group Inc. (The)		1,129		376,397
Guidewire Software Inc.^(b)		270		20,984
Halliburton Co.		2,997		87,812
Hartford Financial Services Group Inc. (The)		1,086		70,014
Hasbro Inc.		462		36,369
HCA Healthcare Inc.		804		170,786
Healthcare Realty Trust Inc.		1,273		33,416
Healthpeak Properties Inc.		1,690		46,695
HEICO Corp.^(a)		122		19,241
HEICO Corp., Class A		231		29,494
Henry Schein Inc.^(b)		500		39,415
Hershey Co. (The)		506		115,348
Hess Corp.		894		100,548
Hewlett Packard Enterprise Co.		4,614		65,703
Hilton Worldwide Holdings Inc.		922		118,081
Hologic Inc.^(b)		846		60,387
Home Depot Inc. (The)		3,488		1,049,679
Honeywell International Inc.		2,290		440,733
Horizon Therapeutics PLC^(b)		769		63,804
Hormel Foods Corp.		1,000		49,340
Host Hotels & Resorts Inc.		2,536		45,166
Howmet Aerospace Inc.		1,230		45,670
HP Inc.		3,588		119,803
HubSpot Inc.^(b)		154		47,432
Humana Inc.		425		204,850
Huntington Bancshares Inc./OH		4,994		66,370
Huntington Ingalls Industries Inc.		154		33,393
IAC/InterActiveCorp.^(b)		270		18,495
IDEX Corp.		235		49,056
IDEXX Laboratories Inc.^(b)		284		113,367
Illinois Tool Works Inc.		1,040		216,070
Illumina Inc.^(b)		536		116,140
Incyte Corp.^(b)		616		47,851
Ingersoll Rand Inc.		1,469		73,156
Insulet Corp.^(a)(b)		231		57,242


Security	Shares		Value

United States (continued)
Intel Corp.		13,599	$	493,780
Intercontinental Exchange Inc.		1,837		187,356
International Business Machines Corp.		3,003		392,762
International Flavors & Fragrances Inc.		846		104,946
International Paper Co.		1,192		50,982
Interpublic Group of Companies Inc. (The)		1,269		37,905
Intuit Inc.		898		409,641
Intuitive Surgical Inc.^(b)		1,184		272,521
Invesco Ltd.		1,158		20,543
Invitation Homes Inc.		1,960		76,499
IQVIA Holdings Inc.^(b)		653		156,896
Iron Mountain Inc.		961		46,599
Jack Henry & Associates Inc.		230		47,787
Jacobs Engineering Group Inc.		423		58,078
Jazz Pharmaceuticals PLC^(b)		192		29,964
JB Hunt Transport Services Inc.		270		49,483
JM Smucker Co. (The)		335		44,327
Johnson & Johnson		8,781		1,532,460
Johnson Controls International PLC		2,421		130,516
JPMorgan Chase & Co.		9,862		1,137,680
Juniper Networks Inc.		951		26,657
Kellogg Co.		884		65,345
Keurig Dr Pepper Inc.		2,638		102,196
KeyCorp.		3,327		60,884
Keysight Technologies Inc.^(b)		615		99,999
Kimberly-Clark Corp.		1,153		151,954
Kimco Realty Corp.		2,066		45,679
Kinder Morgan Inc.		6,840		123,052
KKR & Co. Inc.		1,773		98,331
KLA Corp.		500		191,770
Knight-Swift Transportation Holdings Inc.		470		25,827
Kraft Heinz Co. (The)		2,483		91,449
Kroger Co. (The)		2,298		106,719
L3Harris Technologies Inc.		663		159,100
Laboratory Corp. of America Holdings		312		81,803
Lam Research Corp.		460		230,235
Las Vegas Sands Corp.^(b)		1,168		44,022
Lear Corp.		192		29,019
Leidos Holdings Inc.		424		45,368
Lennar Corp., Class A		884		75,140
Lennox International Inc.		115		27,546
Liberty Broadband Corp., Class C ^(b)		430		46,840
Liberty Global PLC, Class A^(b)		654		14,231
Liberty Global PLC, Class C, NVS^(b)		1,038		23,760
Liberty Media Corp.-Liberty Formula One,
Class C, NVS^(a)(b)		692		46,897
Liberty Media Corp.-Liberty SiriusXM, Class A, NVS^(b)		308		12,274
Liberty Media Corp.-Liberty SiriusXM, Class C, NVS^(b)		461		18,357
Lincoln National Corp.		576		29,572
Live Nation Entertainment Inc.^(b)		580		54,514
LKQ Corp.		884		48,479
Lockheed Martin Corp.		833		344,704
Loews Corp.		653		38,037
Lowe’s Companies Inc.		2,238		428,644
LPL Financial Holdings Inc.		271		56,888
Lucid Group Inc.^(a)(b)		1,346		24,565
Lululemon Athletica Inc.^(b)		383		118,925
Lumen Technologies Inc.		2,845		30,982
Lyft Inc., Class A^(b)		884		12,252
LyondellBasell Industries NV, Class A		845		75,306


Security	Shares		Value

United States (continued)
M&T Bank Corp.		610	$	108,245
Marathon Oil Corp.		2,430		60,264
Marathon Petroleum Corp.		1,847		169,296
Markel Corp.^(a)(b)		46		59,668
MarketAxess Holdings Inc.		127		34,389
Marriott International Inc./MD, Class A		913		145,003
Marsh & McLennan Companies Inc.		1,679		275,289
Martin Marietta Materials Inc.		205		72,176
Marvell Technology Inc.^(a)		2,880		160,358
Masco Corp.		769		42,587
Masimo Corp.^(b)		154		22,265
Mastercard Inc., Class A		2,915		1,031,298
Match Group Inc.^(b)		993		72,797
McCormick & Co. Inc./MD, NVS		884		77,217
McDonald’s Corp.		2,483		653,948
McKesson Corp.		505		172,498
Medical Properties Trust Inc.		2,207		38,049
Medtronic PLC		4,484		414,860
MercadoLibre Inc.^(b)		154		125,311
Merck & Co. Inc.		8,442		754,208
Meta Platforms Inc, Class A^(b)		7,712		1,226,979
MetLife Inc.		2,332		147,499
Mettler-Toledo International Inc.^(b)		77		103,929
MGM Resorts International		1,269		41,534
Microchip Technology Inc.		1,883		129,663
Micron Technology Inc.		3,767		233,027
Microsoft Corp.		23,848		6,695,088
Mid-America Apartment Communities Inc.		385		71,506
Moderna Inc.^(b)		1,154		189,360
Mohawk Industries Inc.^(b)		192		24,668
Molina Healthcare Inc.^(b)		192		62,922
Molson Coors Beverage Co., Class B		654		39,077
Mondelez International Inc., Class A		4,614		295,481
MongoDB Inc.^(a)(b)		228		71,243
Monolithic Power Systems Inc.		154		71,567
Monster Beverage Corp.^(b)		1,307		130,203
Moody’s Corp.		561		174,050
Morgan Stanley		4,462		376,147
Mosaic Co. (The)		1,268		66,773
Motorola Solutions Inc.		577		137,666
MSCI Inc.		274		131,887
Nasdaq Inc.		386		69,827
NetApp Inc.		687		49,004
Netflix Inc.^(b)		1,482		333,302
Neurocrine Biosciences Inc.^(b)		308		28,992
Newell Brands Inc.		1,346		27,203
Newmont Corp.		2,652		120,083
News Corp., Class A, NVS		1,307		22,402
NextEra Energy Inc.		6,548		553,241
Nike Inc., Class B		4,261		489,674
NiSource Inc.		1,269		38,578
Nordson Corp.		192		44,350
Norfolk Southern Corp.		805		202,192
Northern Trust Corp.		663		66,154
Northrop Grumman Corp.		492		235,619
NortonLifeLock Inc.		2,091		51,292
Novocure Ltd.^(b)		307		20,873
NRG Energy Inc.		847		31,974
Nucor Corp.^(a)		917		124,529
Nvidia Corp.		8,349		1,516,429


Security	Shares		Value

United States (continued)
NVR Inc.^(b)		11	$	48,324
Occidental Petroleum Corp.		3,068		201,721
Okta Inc.^(a)(b)		496		48,831
Old Dominion Freight Line Inc.		340		103,193
Omnicom Group Inc.		652		45,536
ON Semiconductor Corp.^(b)		1,537		102,641
ONEOK Inc.		1,538		91,880
Oracle Corp.		5,339		415,588
O’Reilly Automotive Inc.^(b)		230		161,826
Otis Worldwide Corp.		1,422		111,158
Owens Corning		296		27,451
PACCAR Inc.		1,192		109,092
Packaging Corp. of America		307		43,167
Palantir Technologies Inc., Class A^(b)		5,647		58,446
Palo Alto Networks Inc.^(a)(b)		329		164,204
Paramount Global, Class B, NVS		2,174		51,415
Parker-Hannifin Corp.		423		122,285
Paychex Inc.		1,114		142,904
Paycom Software Inc.^(b)		164		54,200
PayPal Holdings Inc.^(b)		3,695		319,728
Peloton Interactive Inc., Class A^(b)		808		7,668
Pentair PLC		577		28,210
PepsiCo Inc.		4,620		808,315
PerkinElmer Inc.^(a)		396		60,655
Pfizer Inc.		18,781		948,628
PG&E Corp.^(b)		4,994		54,235
Philip Morris International Inc.		5,176		502,848
Phillips 66		1,631		145,159
Pinterest Inc., Class A^(b)		1,844		35,921
Pioneer Natural Resources Co.		769		182,215
Plug Power Inc.^(a)(b)		1,844		39,351
PNC Financial Services Group Inc. (The)		1,422		235,967
Pool Corp.		132		47,216
PPG Industries Inc.		808		104,466
PPL Corp.		2,460		71,537
Principal Financial Group Inc.		884		59,175
Procter & Gamble Co. (The)		8,006		1,112,113
Progressive Corp. (The)		1,937		222,871
Prologis Inc.		2,454		325,302
Prudential Financial Inc.		1,262		126,187
PTC Inc.^(b)		384		47,378
Public Service Enterprise Group Inc.		1,729		113,543
Public Storage		536		174,956
PulteGroup Inc.		923		40,261
Qorvo Inc.^(b)		385		40,067
Qualcomm Inc.		3,761		545,571
Quanta Services Inc.		486		67,423
Quest Diagnostics Inc.		423		57,769
Raymond James Financial Inc.		653		64,301
Raytheon Technologies Corp.		4,984		464,559
Realty Income Corp.		2,018		149,312
Regency Centers Corp.		539		34,728
Regeneron Pharmaceuticals Inc.^(b)		361		209,990
Regions Financial Corp.		3,367		71,313
Republic Services Inc.		764		105,936
ResMed Inc.		500		120,260
RingCentral Inc., Class A^(b)		294		14,550
Rivian Automotive Inc., Class A^(a)(b)		577		19,791
Robert Half International Inc.		384		30,390
ROBLOX Corp., Class A^(b)		1,188		51,001


Security	Shares		Value

United States (continued)
Rockwell Automation Inc.		385	$	98,283
Roku Inc.^(a)(b)		385		25,225
Rollins Inc.		846		32,630
Roper Technologies Inc.^(a)		346		151,088
Ross Stores Inc.		1,230		99,950
Royal Caribbean Cruises Ltd.^(b)		769		29,768
RPM International Inc.		461		41,674
S&P Global Inc.		1,183		445,908
Salesforce Inc.^(b)		3,290		605,426
SBA Communications Corp.		358		120,213
Schlumberger NV		4,767		176,522
Seagen Inc.^(b)		462		83,151
Sealed Air Corp.		539		32,944
SEI Investments Co.		459		25,410
Sempra Energy		1,076		178,401
Sensata Technologies Holding PLC		577		25,659
ServiceNow Inc.^(b)		668		298,369
Sherwin-Williams Co. (The)		814		196,939
Signature Bank/New York NY		193		35,815
Simon Property Group Inc.		1,066		115,810
Sirius XM Holdings Inc.^(a)		2,469		16,493
Skyworks Solutions Inc.		577		62,824
Snap Inc., Class A, NVS^(b)		3,574		35,311
Snap-on Inc.		159		35,624
Snowflake Inc., Class A^(b)		726		108,835
SolarEdge Technologies Inc.^(a)(b)		164		59,061
Southern Co. (The)		3,574		274,805
Southwest Airlines Co.^(b)		538		20,509
Splunk Inc.^(b)		497		51,643
SS&C Technologies Holdings Inc.		769		45,502
Stanley Black & Decker Inc.		539		52,461
Starbucks Corp.		3,842		325,725
State Street Corp.		1,230		87,379
Steel Dynamics Inc.		611		47,585
Stryker Corp.		1,151		247,177
Sun Communities Inc.		396		64,928
SVB Financial Group^(b)		193		77,885
Synchrony Financial		1,731		57,954
Synopsys Inc.^(b)		504		185,220
Sysco Corp.		1,687		143,226
T Rowe Price Group Inc.		769		94,948
Take-Two Interactive Software Inc.^(b)		551		73,134
Targa Resources Corp.		733		50,658
Target Corp.		1,599		261,245
Teladoc Health Inc.^(b)		462		17,025
Teledyne Technologies Inc.^(b)		154		60,276
Teleflex Inc.		154		37,031
Teradyne Inc.		552		55,691
Tesla Inc.^(b)		2,946		2,626,212
Texas Instruments Inc.		3,084		551,697
Textron Inc.		682		44,766
Thermo Fisher Scientific Inc.		1,306		781,523
TJX Companies Inc. (The)		3,937		240,787
T-Mobile U.S. Inc.^(b)		2,113		302,286
Tractor Supply Co.		385		73,720
Trade Desk Inc. (The), Class A^(b)		1,423		64,035
Tradeweb Markets Inc., Class A		384		27,080
TransDigm Group Inc.^(b)		176		109,532
TransUnion		615		48,726
Travelers Companies Inc. (The)		798		126,643


Security	Shares		Value

United States (continued)
Trimble Inc.^(b)		884	$	61,376
Truist Financial Corp.		4,436		223,885
Twilio Inc., Class A^(b)		591		50,117
Twitter Inc.^(b)		2,690		111,931
Tyler Technologies Inc.^(b)		129		51,471
Tyson Foods Inc., Class A		941		82,817
U.S. Bancorp		4,647		219,338
Uber Technologies Inc.^(b)		4,889		114,647
UDR Inc.		1,084		52,466
UGI Corp.		616		26,587
Ulta Beauty, Inc.^(b)		180		70,004
Union Pacific Corp.		2,127		483,467
United Parcel Service Inc., Class B		2,447		476,896
United Rentals Inc.^(a)(b)		230		74,214
UnitedHealth Group Inc.		3,142		1,704,032
Unity Software Inc.^(a)(b)		647		24,191
Universal Health Services Inc., Class B		230		25,868
Upstart Holdings Inc.^(a)(b)		147		3,577
Vail Resorts Inc.		150		35,570
Valero Energy Corp.		1,361		150,758
Veeva Systems Inc., Class A^(b)		462		103,294
Ventas Inc.		1,399		75,238
VeriSign Inc.^(b)		351		66,395
Verisk Analytics Inc.		550		104,638
Verizon Communications Inc.		14,020		647,584
Vertex Pharmaceuticals Inc.^(b)		850		238,349
VF Corp.		1,154		51,561
Viatris Inc.		4,151		40,223
VICI Properties Inc.		3,281		112,177
Visa Inc., Class A		5,539		1,174,877
Vistra Corp.		1,422		36,759
VMware Inc., Class A		693		80,527
Vornado Realty Trust		577		17,535
Vulcan Materials Co.		461		76,217
W R Berkley Corp.		693		43,333
Walgreens Boots Alliance Inc.		2,459		97,426
Walmart Inc.		5,095		672,795
Walt Disney Co. (The)^(b)		6,080		645,088
Warner Bros. Discovery Inc.^(b)		7,407		111,105
Waste Management Inc.		1,369		225,283
Waters Corp.^(b)		204		74,262
Wayfair Inc., Class A^(a)(b)		231		12,453
Webster Financial Corp.		602		27,963
WEC Energy Group Inc.		1,077		111,803
Wells Fargo & Co.		12,740		558,904
Welltower Inc.		1,517		130,978
West Pharmaceutical Services Inc.		241		82,798
Western Digital Corp.^(b)		1,076		52,832
Western Union Co. (The)		1,345		22,892
Westinghouse Air Brake Technologies Corp.		553		51,689
Westlake Corp.		130		12,654
Westrock Co.		884		37,446
Weyerhaeuser Co.		2,575		93,524
Whirlpool Corp.		192		33,191
Williams Companies Inc. (The)		4,112		140,178
Willis Towers Watson PLC		382		79,051
Workday Inc., Class A^(b)		653		101,280
WP Carey Inc.		616		55,009
WW Grainger Inc.		154		83,704
Wynn Resorts Ltd.^(b)		330		20,948


Security	Shares		Value


United States (continued)
Xcel Energy Inc.		1,776	$	129,968
Xylem Inc./NY		577		53,101
Yum! Brands Inc.		999		122,417
Zebra Technologies Corp., Class A^(b)		166		59,377
Zendesk Inc.^(b)		385		29,037
Zillow Group Inc., Class C ^(a)(b)		500		17,440
Zimmer Biomet Holdings Inc.		692		76,390
Zoetis Inc.		1,573		287,151
Zoom Video Communications Inc., Class A^(b)		769		79,868
ZoomInfo Technologies Inc.^(b)		948		35,920
Zscaler Inc.^(a)(b)		269		41,711


				121,957,826


Total Common Stocks — 99.6% (Cost: $199,541,056)				166,587,459


Preferred Stocks

Germany — 0.1%
Bayerische Motoren Werke AG, Preference Shares, NVS		193		14,654
Henkel AG & Co. KGaA, Preference Shares, NVS		615		39,288
Porsche Automobil Holding SE, Preference Shares, NVS		538		38,941
Sartorius AG, Preference Shares, NVS		76		33,995
Volkswagen AG, Preference Shares, NVS		616		87,096


				213,974


Total Preferred Stocks — 0.1% (Cost: $353,752)				213,974


Total Long-Term Investments — 99.7% (Cost: $199,894,808)				166,801,433


Security	Shares		Value


Short-Term Securities

Money Market Funds — 1.3%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		2,041,177	$	2,040,973
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		140,000		140,000


Total Short-Term Securities — 1.3% (Cost: $2,180,500)				2,180,973


Total Investments in Securities — 101.0% (Cost: $202,075,308)				168,982,406

Liabilities in Excess of Other Assets — (1.0)%				(1,738,006	)


Net Assets — 100.0%			$	167,244,400

^(a)	All or a portion of this security is on loan.

^(b)	Non-income producing security.

^(c)	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.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):

Basis of Consolidation: The accompanying consolidated financial statements for the iShares MSCI All Country Asia ex Japan ETF includes the accounts of its subsidiary in the Republic of Mauritius, which is a wholly-owned subsidiary (the “Subsidiary”) of the Fund that invests in Indian securities. Through this investment structure, the Fund expects to obtain certain benefits under a current tax treaty between Mauritius and India. The net assets of the Subsidiary as of period end were $0, which is 0.0% of the Fund’s consolidated net assets. Intercompany accounts and transactions, if any, have been eliminated.

Effective August 27, 2021, MSCI All Country Asia ex Japan no longer invests in the Subsidiary. MSCI All Country Asia ex Japan transferred all of the assets of MSCI All Country Asia ex Japan’s wholly owned Mauritius Subsidiary to MSCI All Country Asia ex Japan through on-exchange transactions in India. MSCI All Country Asia ex Japan recognized a net realized gain of $391 as a result of this transaction. After the transfer, MSCI All Country Asia ex Japan began making new investments in India directly. On October 29, 2021, MSCI All Country Asia ex Japan’s Subsidiary was dissolved.

The iShares MSCI All Country Asia ex Japan ETF has conducted investment activities in India through its Subsidiary and expects to obtain benefits under the Double Tax Avoidance Agreement (“DTAA”) between India and Mauritius. In order to be eligible to claim benefits under the DTAA, the Subsidiary must have commercial substance, on an annual basis, to satisfy certain tests and conditions, including the establishment and maintenance of valid tax residence in Mauritius, have the place of effective management outside of India, and related requirements. The Fund has obtained a current tax residence certificate issued by the Mauritian Revenue Authorities.

Based upon current interpretation and practice of the current tax laws in India and Mauritius and the DTAA, the Subsidiary is subject to tax in Mauritius on its net income at the rate of 15%. However, the Subsidiary is entitled to a tax credit equivalent to the higher of the actual foreign tax incurred or 80% of the Mauritius tax on its foreign source income, thus reducing its maximum effective tax rate to 3% up to June 30, 2021. After June 30, 2021, under the new tax regime and subject to meeting the necessary substance requirements as required under the Financial Services Act 2007 (as amended by the Finance Act 2018) and such guidelines issued by the Financial Services Commission (the “FSC”), the Subsidiary is entitled to either (a) a foreign tax credit equivalent to the actual foreign tax suffered on its foreign income against the Subsidiary’s tax liability computed at 15% on such income, or (b) a partial exemption of 80% of some of the income derived, including interest income or foreign source dividends. Taxes on income, if any, are paid by the Subsidiary and are disclosed in its Consolidated Statements of Operations. Any dividends paid by the Subsidiary to its Fund are not subject to tax in Mauritius. The Subsidiary is currently exempt from tax in Mauritius on any gains from the sale of securities.

The DTAA provides that capital gains will be taxable in India with respect to the sale of shares acquired on or after April 1, 2017. Capital gains arising from shares acquired before April 1, 2017, regardless of when they are sold, will continue to be exempt from taxation under the amended DTAA, assuming requirements for eligibility under the DTAA are satisfied. There can be no assurance, however, that the DTAA will remain in effect during the Subsidiary’s existence or that it will continue to enjoy its benefits on the shares acquired prior to April 1, 2017.

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

When determining the price for Fair Valued Investments, the Global Valuation Committee, or its delegate, seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that the Global Valuation Committee, or its delegate, deems relevant and consistent with the principles of fair value measurement. The pricing of all Fair Valued Investments is subsequently reported to the Board or a committee thereof on a quarterly basis.

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: Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved 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 market 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 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 is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does 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, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

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, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of 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.

For its investment advisory services to the iShares MSCI ACWI ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

For its investment advisory services to the iShares MSCI All Country Asia ex Japan ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

Expense Waivers: A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies (“acquired fund fees and expenses”). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund’s total annual operating expenses. Total expenses as shown in the Statement of Operations does not include acquired fund fees and expenses.

For each of the iShares MSCI ACWI and MSCI All Country Asia ex Japan ETFs, BFA has contractually agreed to waive a portion of its investment advisory fee for the Funds through November 30, 2026 in an amount equal to the acquired fund fees and expenses, if any, attributable to each Fund’s investments in other iShares funds.

For year ended July 31, 2022, there were no fees waived by BFA pursuant to this arrangement.

Distributor: BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

Pursuant to the current securities lending agreement, the iShares MSCI Kokusai ETF (the “Group 1 Fund”), retains 81% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Pursuant to the current securities lending agreement, each of iShares MSCI ACWI ETF, iShares MSCI ACWI Low Carbon Target ETF, iShares MSCI All Country Asia ex Japan ETF, iShares MSCI Europe Financials ETF and iShares MSCI Europe Small-Cap ETF (the “Group 2 Funds”), retains 82% of securities lending income (which excludes collateral investment fees) and the 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 plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the “iShares ETF Complex”) in a given calendar year exceeds a specified threshold: (1) the Group 1 Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees, and (2) each Group 2 Fund will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Prior to January 1, 2022, the Group 1 Fund retained 77% of securities lending income (which excludes collateral investment fees) and the amount retained was not less than 70% of the total of securities lending income plus the collateral investment fees. Each Group 2 Fund retained 82% of securities lending income (which excludes collateral investment fees) and the amount retained was not 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 plus the collateral investment fees generated across the iShares ETF Complex in a calendar year exceeded a specified threshold: (1) the Group 1 Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees, and (2) each Group 2 Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees.

Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

For the year ended July 31, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

For the year ended July 31, 2022, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2022, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

As of July 31, 2022, the tax components of accumulated net earnings (losses) were as follows:

For the year ended July 31, 2022, the iShares MSCI All Country Asia ex Japan ETF utilized $46,739,746 of its capital loss carryforwards.

The iShares MSCI ACWI, iShares MSCI ACWI Low Carbon Target and iShares MSCI All Country Asia ex Japan ETFs, along with certain other iShares funds (“Participating Funds”), are parties to a $300 million credit agreement (“Credit Agreement”) with State Street Bank and Trust Company, which expires on October 15, 2021. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Credit Agreement sets specific sub limits on aggregate borrowings based on two tiers of Participating Funds: $300 million with respect to the funds within Tier 1, including the Funds, and $200 million with respect to Tier 2. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Credit Agreement. The Credit Agreement has the following terms: a commitment fee of 0.20% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Credit Agreement. The Credit Agreement was terminated on August 12, 2021.

Effective August 13, 2021, the iShares MSCI ACWI, iShares MSCI ACWI Low Carbon Target and iShares MSCI All Country Asia ex Japan ETFs, along with certain other iShares funds (“Participating Funds”), are parties to a $800 million credit agreement (“Syndicated Credit Agreement”) with a group of lenders, which expires on August 12, 2022. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

For the year ended July 31, 2022, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Syndicated Credit Agreement were as follows:

Market Risk: The iShares MSCI All Country Asia ex Japan ETF invests in A-shares (i.e., equity securities of companies based in the People’s Republic of China (“China” or “PRC”) that trade on the Shanghai Stock Exchange and Shenzhen Stock Exchange) primarily through the Shanghai-Hong Kong Stock Connect program or the Shenzhen-Hong Kong Stock Connect program (together, “Stock Connect”). Investing in A-shares through Stock Connect is subject to trading, clearance and settlement procedures, which could pose risks to the Fund. Trading through Stock Connect is subject to a daily quota, which limits the maximum net purchases under Stock Connect each day. The daily quota may restrict the Fund’s ability to invest in A-shares on a timely basis and could affect the Fund’s ability to effectively pursue its investment strategy. Additionally, the Fund may be subject to the risk of price fluctuations on days when the Chinese markets are open, but Stock Connect is not trading. The A-shares market has a higher propensity for trading suspensions than many other global equity markets.

An outbreak of respiratory disease caused by a novel coronavirus has developed into a global pandemic and has resulted in closing borders, quarantines, disruptions to supply chains and customer activity, as well as general concern and uncertainty. The impact of this pandemic, and other global health crises that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. This pandemic may result in substantial market volatility and may adversely impact the prices and liquidity of a fund’s investments. Although vaccines have been developed and approved for use by various governments, the duration of this pandemic and its effects cannot be determined with certainty.

Certain Funds invest a significant portion of their assets in issuers located in a single country or a limited number of countries. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions in that country or those countries may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the Fund’s portfolio. Unanticipated or sudden political or social developments may cause uncertainty in the markets and as a result adversely affect the Fund’s investments. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be more volatile and less liquid than U.S. securities and may be less subject to governmental supervision not typically associated with investing in U.S. securities. Investment percentages in specific countries are presented in the Schedule of Investments.

Certain Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds’ investments.

debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but could be significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

Certain Funds invest a significant portion of their assets in securities of issuers located in China or with significant exposure to Chinese issuers or countries. Investments in Chinese securities, including certain Hong Kong-listed securities, involves risks specific to China. China may be subject to considerable degrees of economic, political and social instability and demonstrates significantly higher volatility from time to time in comparison to developed markets. Chinese markets generally continue to experience inefficiency, volatility and pricing anomalies resulting from governmental influence, a lack of publicly available information and/or political and social instability. Internal social unrest or confrontations with other neighboring countries may disrupt economic development in China and result in a greater risk of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation. Incidents involving China’s or the region’s security may cause uncertainty in Chinese markets and may adversely affect the Chinese economy and a fund’s investments. Reduction in spending on Chinese products and services, institution of tariffs or other trade barriers, or a downturn in any of the economies of China’s key trading partners may have an adverse impact on the Chinese economy. In addition, measures may be taken to limit the flow of capital and/or sanctions may be imposed, which could prohibit or restrict the ability to own or transfer fund assets and may also include retaliatory actions, such as seizure of fund assets.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust’s administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Investors transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

The iShares MSCI ACWI ETF is expected to seek a closing agreement with the Internal Revenue Service (“IRS”) to address any prior years’ U.S. income tax liabilities attributable to Fund shareholders resulting from the recovery of foreign taxes. The closing agreement would result in the Fund paying a compliance fee to the IRS, on behalf of its shareholders, representing the estimated tax savings generated from foreign tax credits claimed by Fund shareholders on their tax returns in prior years. The Fund has accrued a liability for the estimated IRS compliance fee related to foreign withholding tax claims, which is disclosed in the statements of assets and liabilities. The actual IRS compliance fee may differ from the estimate and that difference may be material.

iShares Trust and Shareholders of each of the six funds listed in the table below

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (six of the funds constituting iShares Trust, hereafter collectively referred to as the “Funds”) as of July 31, 2022, the related statements of operations for the year ended July 31, 2022, the statements of changes in net assets for each of the two years in the period ended July 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended July 31, 2022 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of July 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended July 31, 2022 and each of the financial highlights for each of the five years in the period ended July 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

We have served as the auditor of one or more BlackRock investment companies since 2000.

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2022:

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified business income for individuals for the fiscal year ended July 31, 2022:

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

iShares MSCI ACWI Low Carbon Target ETF, iShares MSCI Europe Financials ETF, iShares MSCI Kokusai ETF (each the “Fund”)

Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were higher than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Information on the Fund’s net asset value, market price, premiums and discounts, and bid-ask spreads can be found at iShares.com.

Regulation under the Alternative Investment Fund Managers Directive (applicable to iShares MSCI ACWI ETF, iShares MSCI All Country Asia ex Japan ETF and iShares MSCI Kokusai ETF only)

The Alternative Investment Fund Managers Directive and the Alternative Investment Fund Managers Regulations 2013 (as amended) and the “Guidelines on sound remuneration policies under the AIFMD” issued by the European Securities and Markets Authority (together the “Regulations”) impose detailed and prescriptive obligations on fund managers established in the European Union (the “EU”) and the UK. These do not currently apply to managers established outside of the EU or UK, such as BFA (the “Company”). Rather, non-EU and non-UK managers are only required to comply with certain disclosure, reporting and transparency obligations of the Regulations if such managers market a fund to EU investors.

The Company has registered the iShares MSCI ACWI ETF, iShares MSCI All Country Asia ex Japan ETF and iShares MSCI Kokusai ETF (each a “Fund”, collectively the “Funds) to be marketed to United Kingdom and EU investors in the Netherlands, Finland and Sweden.

The Company is required under the Regulations to make quantitative disclosures of remuneration. These disclosures are made in line with BlackRock’s interpretation of currently available regulatory guidance on quantitative remuneration disclosures. As market or regulatory practice develops BlackRock may consider it appropriate to make changes to the way in which quantitative remuneration disclosures are calculated. Where such changes are made, this may result in disclosures in relation to a fund not being comparable to the disclosures made in the prior year, or in relation to other BlackRock fund disclosures in that same year.

Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; and (c) staff who have the ability to materially affect the risk profile of the Funds.

All individuals included in the aggregated figures disclosed are rewarded in line with BlackRock’s remuneration policy for their responsibilities across the relevant BlackRock business area. As all individuals have a number of areas of responsibilities, only the portion of remuneration for those individuals’ services attributable to the Funds is included in the aggregate figures disclosed.

BlackRock has a clear and well defined pay-for-performance philosophy, and compensation programmes which support that philosophy.

BlackRock operates a total compensation model for remuneration which includes a base salary, which is contractual, and a discretionary bonus scheme. Although all employees are eligible to receive a discretionary bonus, there is no contractual obligation to make a discretionary bonus award to any employees. For senior management, a significant percentage of variable remuneration is deferred over time. All employees are subject to a claw-back policy.

Remuneration decisions for employees are made once annually in January following the end of the performance year, based on BlackRock’s full-year financial results and other non-financial goals and objectives. Alongside financial performance, individual total compensation is also based on strategic and operating results and other considerations such as management and leadership capabilities. No set formulas are established and no fixed benchmarks are used in determining annual incentive awards.

Annual incentive awards are paid from a bonus pool which is reviewed throughout the year by BlackRock’s independent compensation committee, taking into account both actual and projected financial information together with information provided by the Enterprise Risk and Regulatory Compliance departments in relation to any activities, incidents or events that warrant consideration in making compensation decisions. Individuals are not involved in setting their own remuneration.

Each of the control functions (Enterprise Risk, Legal & Compliance, and Internal Audit) each have their own organisational structures which are independent of the business units. Functional bonus pools for those control functions are determined with reference to the performance of each individual function and the remuneration of the senior members of control functions is directly overseen by BlackRock’s independent remuneration committee.

Members of staff and senior management of the Company typically provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the Company and across the broader BlackRock group. Therefore, the figures disclosed are a sum of each individual’s portion of remuneration attributable to the Funds according to an objective apportionment methodology which acknowledges the multiple-service nature of the Company. Accordingly the figures are not representative of any individual’s actual remuneration or their remuneration structure.

The amount of total & aggregate remuneration awarded by the Company to its staff which has been attributed to the Funds in respect of the Company’s financial year ending December 31, 2021 were as follows:

Disclosures Under the EU Sustainable Finance Disclosure Regulation (applicable to iShares MSCI ACWI ETF, iShares MSCI All Country Asia ex Japan ETF and iShares MSCI Kokusai ETF only)

Each Fund is registered under the Alternative Investment Fund Managers Directive to be marketed to European Union (“EU”) investors, as noted above. As a result, certain disclosures are required under the EU Sustainable Finance Disclosure Regulation (“SFDR”).

Each Fund has not been categorized under the SFDR as an “Article 8” or “Article 9” product. In addition, each Fund’s investments do not take into account the criteria for environmentally sustainable economic activities under the EU sustainable investment taxonomy regulation.

The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds and ETFs (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (including ETFs) (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares U.S. ETF Trust and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 384 funds as of July 31, 2022. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated John E. Kerrigan as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at iShares.com/fundreports.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.

The Markets in Review

Dear Shareholder,

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

The iShares Currency Hedged MSCI ACWI ex U.S. ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization developed and emerging equities, excluding the U.S., while mitigating exposure to fluctuations between the value of the component currencies and the U.S. dollar, as represented by the MSCI ACWI ex USA 100% Hedged to USD Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares MSCI ACWI ex U.S. ETF.

The inception date of the Fund was June 29, 2015. The first day of secondary market trading was July 1, 2015.

International stocks declined significantly in U.S. dollar terms during the reporting period, as global growth cooled in an environment of high inflation, rising interest rates, and volatility in commodities markets. China was the leading detractor from the Index’s return as strict lockdowns to prevent the spread of COVID-19 weighed on economic activity. In the second quarter of 2022, China’s economy contracted for the first time since the coronavirus pandemic began.

Among Chinese stocks, the consumer discretionary sector detracted the most from the Index’s return, particularly the internet and direct marketing retail industry. Strong domestic and international competition slowed revenue growth and diminished earnings. Heightened regulatory scrutiny from the Chinese government contributed to investor uncertainty surrounding the industry. The slowing economy further weighed on Chinese e-commerce platforms, as unemployment increased and consumer confidence declined. The communication services sector was another source of weakness, constrained by new regulations that dampened revenue growth.

German stocks also detracted from the Index’s return, as weakness in the automobiles industry weighed on the consumer discretionary sector. Supply chain problems, exacerbated by a global semiconductor shortage and Russia’s invasion of Ukraine, led to production difficulties that constrained automobile sales.

South Korean stocks detracted amid cooling demand for certain consumer electronics, such as televisions and smartphones. In addition, product delays due to manufacturing issues pressured industry revenues. French stocks also detracted, particularly in the consumer discretionary sector, as investors became concerned about the impact of Chinese lockdowns on demand for luxury products.

In terms of currency performance, the U.S. dollar gained significantly against most foreign currencies during the reporting period. Four interest rate increases by the Fed made U.S.-based investments relatively more attractive, and geopolitical instability led some investors to move into U.S. dollars. The Japanese yen, the euro, and the British pound depreciated by approximately 18%, 14%, and 12% respectively against the U.S. dollar.

The negative performance of some foreign currencies meant hedging activity contributed to the Index’s return. A fully hedged investor seeks to bypass the currency fluctuations — both on the upside and on the downside — related to holding foreign-currency-denominated securities. The Index’s hedging activity offset the negative impact of foreign currency performance relative to the U.S. dollar, resulting in an Index return that was relatively close to the Index’s return measured in local currencies.

The iShares Currency Hedged MSCI EAFE ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization equities in Europe, Australasia, and the Far East while mitigating exposure to fluctuations between the value of the component currencies and the U.S. dollar, as represented by the MSCI EAFE^® 100% Hedged to USD Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares MSCI EAFE ETF.

The inception date of the Fund was January 31, 2014. The first day of secondary market trading was February 4, 2014.

Large- and mid-capitalization stocks in developed markets outside the U.S. and Canada declined in U.S. dollar terms during the reporting period, as higher inflation, rising interest rates, and weakening global economies sent markets lower. Russia’s invasion of Ukraine also increased investor uncertainty, as international sanctions on Russia disrupted global economic activity, unsettled commodities markets, and constrained companies that had connections to Russia. The combination of resilient consumer demand and persistent supply chain disruptions contributed to higher inflation in many countries. This inflationary pressure led some of the world’s central banks to adopt less accommodative stances regarding monetary policy. The Chinese government’s imposition of new lockdowns to quell the spread of COVID-19 pressured Asian stocks.

Japanese stocks, particularly in the industrials sector, detracted the most from the Index’s return. Japan’s gross domestic product shrank in the first quarter as supply chain disruptions, particularly in China, dampened exports and production. Japanese exports to China, the country’s largest export market, slowed amid China’s lockdown measures to limit the spread of the coronavirus, which idled factories and warehouses and slowed deliveries of goods.

European stocks, particularly in Germany, France, and the Netherlands also detracted from the Index’s return. The war in Ukraine disrupted supply chains, weakened the economic outlook, and contributed to record-high inflation across the Eurozone as commodities and oil prices soared. The ECB raised interest rates in July 2022 for the first time in 11 years to fight growing inflation.

In terms of currency performance, the U.S. dollar gained significantly relative to most foreign currencies during the reporting period. Four interest rate increases by the Fed made U.S.-based investments relatively more attractive, and geopolitical instability led some investors to move into U.S. dollars. The Japanese yen, the euro, and the British pound depreciated by approximately 18%, 14%, and 12%, respectively, against the U.S. dollar.

The iShares Currency Hedged MSCI EAFE Small-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of small-capitalization developed market equities, excluding the U.S. and Canada, while mitigating exposure to fluctuations between the value of the component currencies and the U.S. dollar, as represented by the MSCI EAFE Small-Cap 100% Hedged to USD Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares MSCI EAFE Small-Cap ETF.

The inception date of the Fund was June 29, 2015. The first day of secondary market trading was July 1, 2015.

Small-capitalization developed market stocks outside the U.S. and Canada declined in U.S. dollar terms during the reporting period, as higher inflation, rising interest rates, and weakening global economies sent markets lower. Russia’s invasion of Ukraine also increased investor uncertainty, as international sanctions on Russia disrupted global economic activity, unsettled commodities markets, and constrained companies that had connections to Russia. The combination of resilient consumer demand and persistent supply chain disruptions contributed to higher inflation in many countries. This inflationary pressure led some of the world’s central banks to adopt less accommodative stances regarding monetary policy. The Chinese government’s imposition of new lockdowns to quell the spread of COVID-19 pressured Asian stocks.

Japanese stocks detracted the most from the Index’s return. Japan’s gross domestic product shrank in the first quarter as supply chain disruptions, particularly in China, dampened exports and production. Japanese exports to China, the country’s largest export market, slowed amid China’s measures to limit the spread of the coronavirus, which idled factories and warehouses and slowed deliveries of goods.

Stocks in the U.K., particularly in the consumer discretionary sector, also detracted from the Index’s return. Stocks of several consumer discretionary companies dropped on diminished sales outlooks due to falling levels of consumer confidence, inflation rates at 40-year highs, and slowing economic growth. The Bank of England raised interest rates in December 2021 for the first time since the start of the coronavirus pandemic and continued to raise rates in 2022 to the highest levels in 13 years. Stocks in Sweden and Germany also detracted from the Index’s performance amid high inflation.

The iShares MSCI ACWI ex U.S. ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization non-U.S. equities, as represented by the MSCI ACWI ex USA Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

International stocks declined significantly during the reporting period, as global growth cooled in an environment of high inflation, rising interest rates, and volatility in commodities markets. China was the leading detractor from the Index’s return as strict lockdowns to prevent the spread of COVID-19 weighed on economic activity. In the second quarter of 2022, China’s economy contracted for the first time since the coronavirus pandemic began.

Stocks in Japan, which experienced two separate quarters of economic contraction during the reporting period, also detracted from the Index’s performance. The Bank of Japan kept short-term interest rates negative even as the Fed and other central banks raised interest rates. This difference led to a substantial decrease in the Japanese yen’s value relative to the U.S. dollar, reducing the value of Japanese assets denominated in U.S. dollars. The industrials sector led Japanese detraction amid a notable slowdown in industrial production. Although currency weakness has historically aided industrial exporters, recent increases in offshore production have limited the benefits.

The iShares MSCI EAFE ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization developed market equities, excluding the U.S. and Canada, as represented by the MSCI EAFE Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Large- and mid-capitalization stocks in developed markets outside the U.S. and Canada declined during the reporting period, as higher inflation, rising interest rates, and weakening global economies sent markets lower. Russia’s invasion of Ukraine also increased investor uncertainty, as international sanctions on Russia disrupted global economic activity, unsettled commodities markets, and constrained companies that had connections to Russia. The combination of resilient consumer demand and persistent supply chain disruptions contributed to higher inflation in many countries. This inflationary pressure led some of the world’s central banks to adopt less accommodative stances regarding monetary policy. The Chinese government’s imposition of new lockdowns to quell the spread of COVID-19 pressured Asian stocks.

Japanese stocks, particularly in the industrials sector, detracted the most from the Index’s return. Several companies in the industrials sector posted strong earnings during the reporting period, but they detracted from the Index’s performance due primarily to the weakness of the Japanese yen relative to the U.S. dollar. The Japanese yen hit a 24-year low in July 2022 against the U.S. dollar, weakening returns from the country as the Bank of Japan continued its low interest rate policy while other central banks raised interest rates. Japan’s gross domestic product shrank in the first quarter as supply chain disruptions, particularly in China, dampened exports and production. Japanese exports to China, the country’s largest export market, slowed amid China’s lockdown measures to limit the spread of the coronavirus, which idled factories and warehouses and slowed deliveries of goods.

European stocks, particularly in Germany, France, and the Netherlands also detracted from the Index’s return. The weakening euro, which reached parity with the U.S. dollar for the first time in 20 years, devalued returns from the continent. In addition, the war in Ukraine disrupted supply chains, weakened the economic outlook, and contributed to record-high inflation across the Eurozone as commodities and oil prices soared. The ECB raised interest rates in July 2022 for the first time in 11 years to fight growing inflation.

The iShares MSCI EAFE Small-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of small-capitalization developed market equities, excluding the U.S. and Canada, as represented by the MSCI EAFE Small Cap Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Small-capitalization developed market stocks outside the U.S. and Canada declined during the reporting period, as higher inflation, rising interest rates, and weakening global economies sent markets lower. Russia’s invasion of Ukraine also increased investor uncertainty, as international sanctions on Russia disrupted global economic activity, unsettled commodities markets, and constrained companies that had connections to Russia. The combination of resilient consumer demand and persistent supply chain disruptions contributed to higher inflation in many countries. This inflationary pressure led some of the world’s central banks to adopt less accommodative stances regarding monetary policy. The Chinese government’s imposition of new lockdowns to quell the spread of COVID-19 pressured Asian stocks.

Japanese stocks detracted the most from the Index’s return, due primarily to the weakness of the Japanese yen relative to the U.S. dollar. The Japanese yen hit a 24-year low in July 2022 against the U.S. dollar, weakening performance from the country as the Bank of Japan continued its low interest rate policy while some other central banks raised interest rates. Japan’s gross domestic product shrank in the first quarter as supply chain disruptions, particularly in China, dampened exports and production. Japanese exports to China, the country’s largest export market, slowed amid China’s measures to limit the spread of the coronavirus, which idled factories and warehouses and slowed deliveries of goods.

Stocks in the U.K., particularly in the consumer discretionary sector, also detracted from the Index’s return. Stocks of several consumer discretionary companies dropped on diminished sales outlooks due to falling levels of consumer confidence, inflation rates at 40-year highs, and slowing economic growth. The Bank of England raised interest rates in December 2021 for the first time since the start of the coronavirus pandemic and continued to raise rates in 2022 to the highest levels in 13 years. Additionally, the British pound weakened against the U.S. dollar, which diminished returns from the U.K. Stocks in Sweden and Germany also detracted from the Index’s performance amid high inflation and the depreciation of the Swedish krona and the euro relative to the U.S. dollar.

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.


Security	Shares		Value


Investment Companies

Exchange-Traded Funds — 100.1%
iShares MSCI ACWI ex U.S. ETF^(a)		2,588,398	$	120,412,275


Total Investment Companies (Cost: $129,874,651)				120,412,275


Short-Term Securities

Money Market Funds — 0.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(a)(b)		210,000		210,000


Total Short-Term Securities — 0.2% (Cost: $210,000)				210,000


Total Investments in Securities — 100.3% (Cost: $130,084,651)				120,622,275

Liabilities in Excess of Other Assets — (0.3)%				(321,837	)


Net Assets — 100.0%			$	120,300,438

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

The following tables present the Fund’s derivative assets and liabilities by counterparty net of amounts available for offset under an MNA and net of the related collateral received and pledged by the Fund:




Counterparty		Derivative Liabilities Subject to an MNA by Counterparty		Derivatives Available for Offset	^(a)		Non-Cash Collateral Pledged		Cash Collateral Pledged		Net Amount of Derivative Liabilities	^(d)(e)


Bank of America N.A.	$	52,433	$	(52,433	)	$	—	$	—	$	—
Barclays Bank PLC		2,831		(98	)		—		—		2,733
BNP Paribas SA		62,187		(57,743	)		—		—		4,444
Citibank N.A.		16,272		(15,243	)		—		—		1,029
Deutsche Bank Securities Inc.		97,478		(16,157	)		—		—		81,321
HSBC Bank PLC		142,200		(52,734	)		—		—		89,466
JPMorgan Chase Bank N.A.		293,102		(50,788	)		—		—		242,314
Morgan Stanley & Co. International PLC		137,152		(137,152	)		—		—		—
Societe Generale		48		—			—		—		48
State Street Bank and Trust Co.		68,989		(68,989	)		—		—		—
UBS AG		1,881		(92	)		—		—		1,789


	$	874,573	$	(451,429	)	$	—	$	—	$	423,144


Security	Shares		Value


Investment Companies

Exchange-Traded Funds — 100.1%
iShares MSCI EAFE ETF^(a)		55,834,659	$	3,669,453,789


Total Investment Companies (Cost: $3,864,139,459)				3,669,453,789


Short-Term Securities

Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(a)(b)		2,640,000		2,640,000


Total Short-Term Securities — 0.1% (Cost: $2,640,000)				2,640,000


Total Investments in Securities — 100.2% (Cost: $3,866,779,459)				3,672,093,789


Liabilities in Excess of Other Assets — (0.2)%				(8,454,435	)


Net Assets — 100.0%			$	3,663,639,354

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.



Counterparty		Derivative Assets Subject to an MNA by Counterparty		Derivatives Available for Offset	^(a)		Non-Cash Collateral Received		Cash Collateral Received	^(b)		Net Amount of Derivative Assets	^(c)(d)


Banco Santander Central Hispano	$	35,556	$	(17,890	)	$	—	$	—		$	17,666
Bank of America N.A.		286,340		(286,340	)		—		—			—
Bank of New York		38,178		(1,332	)		—		—			36,846
BNP Paribas SA		381,762		(381,762	)		—		—			—
Citibank N.A.		227,207		(177,788	)		—		—			49,419
HSBC Bank PLC		35,046		(35,046	)		—		—			—
Imperial Bank of Canada		16,413		—			—		—			16,413
JPMorgan Chase Bank N.A.		147,393		(147,393	)		—		—			—
Morgan Stanley & Co. International PLC		4,021,154		(2,457,525	)		—		(620,000	)		943,629
Royal Bank of Scotland PLC		73,164		(18,853	)		—		—			54,311
State Street Bank and Trust Co.		34,125,992		(13,365,782	)		—		—			20,760,210
Toronto Dominion Bank		9,023		(9,023	)		—		—			—
UBS AG		46,209		(46,209	)		—		—			—


	$	39,443,437	$	(16,944,943	)	$	—	$	(620,000	)	$	21,878,494




Counterparty		Derivative Liabilities Subject to an MNA by Counterparty		Derivatives Available for Offset	^(a)		Non-Cash Collateral Pledged		Cash Collateral Pledged		Net Amount of Derivative Liabilities	^(d)(e)


Banco Santander Central Hispano	$	17,890	$	(17,890	)	$	—	$	—	$	—
Bank of America N.A.		539,608		(286,340	)		—		—		253,268
Bank of New York		1,332		(1,332	)		—		—		—
BNP Paribas SA		652,944		(381,762	)		—		—		271,182
Citibank N.A.		177,788		(177,788	)		—		—		—
HSBC Bank PLC		264,794		(35,046	)		—		—		229,748
JPMorgan Chase Bank N.A.		14,117,098		(147,393	)		—		—		13,969,705
Morgan Stanley & Co. International PLC		2,457,525		(2,457,525	)		—		—		—
Royal Bank of Scotland PLC		18,853		(18,853	)		—		—		—
State Street Bank & Trust Company		318		—			—		—		318
State Street Bank and Trust Co.		13,365,782		(13,365,782	)		—		—		—
The Northern Trust Co.		94		—			—		—		94
Toronto Dominion Bank		2,222,750		(9,023	)		—		—		2,213,727
UBS AG		175,339		(46,209	)		—		—		129,130


	$	34,012,115	$	(16,944,943	)	$	—	$	—	$	17,067,172


Security	Shares		Value


Investment Companies

Exchange-Traded Funds — 100.1%
iShares MSCI EAFE Small-Cap ETF^(a)		1,853,855	$	107,912,900


Total Investment Companies (Cost: $120,038,457)				107,912,900


Short-Term Securities

Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(a)(b)		70,000		70,000


Total Short-Term Securities — 0.1% (Cost: $70,000)				70,000


Total Investments in Securities — 100.2% (Cost: $120,108,457)				107,982,900

Liabilities in Excess of Other Assets — (0.2)%				(215,352	)


Net Assets — 100.0%			$	107,767,548

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.




Counterparty		Derivative Assets Subject to an MNA by Counterparty		Derivatives Available for Offset	^(a)		Non-Cash Collateral Received		Cash Collateral Received		Net Amount of Derivative Assets	^(b)(c)


Bank of America N.A.	$	60,381	$	(60,381	)	$	—	$	—	$	—
Barclays Bank PLC		559		(559	)		—		—		—
BNP Paribas SA		46,839		(46,839	)		—		—		—
Citibank N.A.		2,421		(2,421	)		—		—		—
Deutsche Bank Securities Inc.		1,712		(19	)		—		—		1,693
JPMorgan Chase Bank N.A.		2,956		(2,956	)		—		—		—
Morgan Stanley & Co. International PLC		119,492		(119,492	)		—		—		—
State Street Bank and Trust Co.		74,650		(74,650	)		—		—		—
UBS AG		564,366		(64,595	)		—		—		499,771


	$	873,376	$	(371,912	)	$	—	$	—	$	501,464




Counterparty		Derivative Liabilities Subject to an MNA by Counterparty		Derivatives Available for Offset	^(a)		Non-Cash Collateral Pledged		Cash Collateral Pledged		Net Amount of Derivative Liabilities	^(c)(d)

Banco Santander Central Hispano	$	1,233	$	—		$	—	$	—	$	1,233
Bank of America N.A.		185,545		(60,381	)		—		—		125,164
Barclays Bank PLC		8,897		(559	)		—		—		8,338
BNP Paribas SA		72,268		(46,839	)		—		—		25,429
Citibank N.A.		8,030		(2,421	)		—		—		5,609
Deutsche Bank Securities Inc.		19		(19	)		—		—		—
JPMorgan Chase Bank N.A.		532,781		(2,956	)		—		—		529,825
Morgan Stanley & Co. International PLC		257,355		(119,492	)		—		—		137,863
State Street Bank and Trust Co.		168,571		(74,650	)		—		—		93,921
UBS AG		64,595		(64,595	)		—		—		—


	$	1,299,294	$	(371,912	)	$	—	$	—	$	927,382


Security	Shares		Value

Common Stocks

Australia — 5.5%

Ampol Ltd.		49,126	$	1,163,869
APA Group		219,899		1,803,029
Aristocrat Leisure Ltd.		110,246		2,750,423
ASX Ltd.		36,916		2,294,505
Aurizon Holdings Ltd.		316,453		895,655
Australia & New Zealand Banking Group Ltd.		503,326		8,134,383
Australia & New Zealand Banking Group Ltd., New		33,555		536,888
BHP Group Ltd.		917,716		25,113,625
BlueScope Steel Ltd.		93,239		1,095,221
Brambles Ltd.		255,805		2,058,898
Cochlear Ltd.		12,439		1,874,892
Coles Group Ltd.		242,218		3,190,093
Commonwealth Bank of Australia		309,771		21,999,131
Computershare Ltd.		100,182		1,769,914
CSL Ltd.		86,779		17,669,678
Dexus		197,495		1,327,167
Domino’s Pizza Enterprises Ltd.		11,526		589,323
Endeavour Group Ltd./Australia		237,101		1,320,993
Evolution Mining Ltd.		306,753		566,658
Fortescue Metals Group Ltd.		308,976		3,976,075
Glencore PLC		1,805,404		10,232,486
Goodman Group		308,488		4,514,741
GPT Group (The)		303,894		977,688
IDP Education Ltd.^(a)		40,094		806,686
Insurance Australia Group Ltd.		451,576		1,420,913
Lendlease Corp. Ltd.		123,414		894,090
Lottery Corp. Ltd. (The)^(b)		417,041		1,322,895
Macquarie Group Ltd.		63,380		8,111,586
Medibank Pvt Ltd.		542,801		1,305,182
Mineral Resources Ltd.		31,036		1,182,598
Mirvac Group		752,339		1,139,783
National Australia Bank Ltd.		588,985		12,720,019
Newcrest Mining Ltd.		151,493		2,041,559
Northern Star Resources Ltd.		200,772		1,103,368
Orica Ltd.		84,952		1,006,871
Origin Energy Ltd.		312,370		1,311,443
Qantas Airways Ltd.^(b)		192,127		619,100
QBE Insurance Group Ltd.		276,898		2,238,921
Ramsay Health Care Ltd.		32,572		1,609,114
REA Group Ltd.		8,220		725,204
Reece Ltd.		52,505		567,071
Rio Tinto Ltd.		66,278		4,592,041
Rio Tinto PLC		203,542		12,287,724
Santos Ltd.		616,330		3,203,917
Scentre Group		965,982		1,979,531
SEEK Ltd.		61,921		1,002,943
Sonic Healthcare Ltd.		82,441		1,985,304
South32 Ltd.		873,525		2,380,892
Stockland		443,506		1,201,762
Suncorp Group Ltd.		227,102		1,793,490
Telstra Corp. Ltd.		730,995		1,997,816
Transurban Group		547,923		5,600,698
Treasury Wine Estates Ltd.		143,798		1,239,544
Vicinity Centres		620,333		907,668
Washington H Soul Pattinson & Co. Ltd.		40,504		733,311
Wesfarmers Ltd.		205,205		6,723,647
Westpac Banking Corp.		636,934		9,645,182
WiseTech Global Ltd.		28,494		1,009,104


Security	Shares		Value

Australia (continued)
Woodside Energy Group Ltd.		342,985	$	7,744,765
Woolworths Group Ltd.		218,469		5,747,719


				227,758,796

Austria — 0.1%
Erste Group Bank AG		58,555		1,484,526
OMV AG		26,889		1,145,200
Verbund AG		11,514		1,266,143
voestalpine AG		21,946		494,150


				4,390,019

Belgium — 0.5%
Ageas SA/NV		30,353		1,324,766
Anheuser-Busch InBev SA/NV		154,591		8,281,099
D’ieteren Group		4,446		729,705
Elia Group SA/NV		6,947		1,054,636
Groupe Bruxelles Lambert SA		19,427		1,719,582
KBC Group NV		45,228		2,368,905
Proximus SADP		23,952		331,903
Sofina SA		2,663		623,646
Solvay SA		13,715		1,204,628
UCB SA		22,352		1,746,557
Umicore SA		37,566		1,360,729
Warehouses De Pauw CVA		27,217		925,220


				21,671,376

Brazil — 1.1%
Ambev SA		832,251		2,401,482
Americanas SA		109,718		296,873
Atacadao SA		77,155		277,806
B3 SA - Brasil, Bolsa, Balcao		1,121,757		2,404,338
Banco Bradesco SA		156,418		437,442
Banco BTG Pactual SA		182,651		795,332
Banco do Brasil SA		151,404		1,052,551
Banco Santander Brasil SA		57,106		312,234
BB Seguridade Participacoes SA		127,926		716,757
BRF SA^(b)		126,508		390,226
CCR SA		254,266		638,356
Centrais Eletricas Brasileiras SA		189,943		1,681,701
Cia. de Saneamento Basico do Estado de Sao Paulo		68,887		594,728
Cia. Siderurgica Nacional SA		134,438		382,208
Cosan SA		186,239		672,017
Energisa SA		22,565		192,065
Engie Brasil Energia SA		54,812		469,505
Equatorial Energia SA		154,292		739,836
Hapvida Participacoes e Investimentos SA^(c)		810,997		965,529
Hypera SA		88,077		724,996
JBS SA		157,008		969,219
Klabin SA		137,734		530,534
Localiza Rent a Car SA		119,592		1,331,574
Lojas Renner SA		181,424		886,765
Magazine Luiza SA^(b)		567,122		282,788
Natura & Co. Holding SA		172,891		520,601
Petro Rio SA^(b)		99,918		467,717
Petroleo Brasileiro SA		713,097		5,093,845
Raia Drogasil SA		222,027		900,278
Rede D’Or Sao Luiz SA^(c)		77,590		485,715
Rumo SA		239,489		811,858
Suzano SA		138,072		1,288,629
Telefonica Brasil SA		89,242		769,253
Tim SA		203,501		495,174
TOTVS SA		97,190		495,333


Security	Shares		Value

Brazil (continued)
Ultrapar Participacoes SA		137,952	$	338,341
Vale SA		729,323		9,831,715
Vibra Energia SA		213,340		686,518
WEG SA		279,608		1,515,280


				43,847,119

Canada — 8.1%
Agnico Eagle Mines Ltd.		83,132		3,574,439
Air Canada^(a)(b)		31,852		432,553
Algonquin Power & Utilities Corp.		115,689		1,618,047
Alimentation Couche-Tard Inc.		154,687		6,910,814
AltaGas Ltd.		52,541		1,170,587
ARC Resources Ltd.		118,402		1,660,613
Bank of Montreal		117,921		11,755,726
Bank of Nova Scotia (The)		220,745		13,447,595
Barrick Gold Corp.		315,568		4,972,990
Bausch Health Companies Inc.^(b)		49,453		227,850
BCE Inc.		13,354		674,713
BlackBerry Ltd.^(a)(b)		102,138		627,719
Brookfield Asset Management Inc., Class A		254,412		12,623,746
Brookfield Renewable Corp., Class A		25,006		978,330
CAE Inc.^(b)		57,085		1,510,320
Cameco Corp.		73,691		1,897,879
Canadian Apartment Properties REIT		17,556		665,059
Canadian Imperial Bank of Commerce		162,375		8,214,168
Canadian National Railway Co.		107,821		13,659,600
Canadian Natural Resources Ltd.		212,131		11,713,547
Canadian Pacific Railway Ltd.		167,379		13,197,655
Canadian Tire Corp. Ltd., Class A, NVS		10,171		1,306,650
Canadian Utilities Ltd., Class A, NVS		23,079		747,042
CCL Industries Inc., Class B, NVS		27,956		1,404,404
Cenovus Energy Inc.		255,543		4,869,196
CGI Inc.^(b)		40,058		3,434,749
Constellation Software Inc.		3,629		6,173,338
Dollarama Inc.		52,631		3,189,795
Emera Inc.		45,578		2,160,822
Empire Co. Ltd., Class A, NVS		30,309		919,767
Enbridge Inc.		367,203		16,491,230
Fairfax Financial Holdings Ltd.		4,504		2,426,191
First Quantum Minerals Ltd.		105,898		1,935,116
FirstService Corp.		6,827		913,306
Fortis Inc.		87,287		4,123,221
Franco-Nevada Corp.		35,001		4,481,757
George Weston Ltd.		13,236		1,579,782
GFL Environmental Inc.		33,364		923,369
Gildan Activewear Inc.		37,972		1,112,873
Great-West Lifeco Inc.		49,123		1,193,790
Hydro One Ltd.^(c)		55,291		1,543,597
iA Financial Corp. Inc.		16,158		889,065
IGM Financial Inc.		12,983		376,954
Imperial Oil Ltd.		42,216		2,023,190
Intact Financial Corp.		31,910		4,749,558
Ivanhoe Mines Ltd., Class A^(b)		109,628		681,456
Keyera Corp.		37,400		969,354
Kinross Gold Corp.		235,876		808,634
Lightspeed Commerce Inc.^(b)		23,113		495,994
Loblaw Companies Ltd.		30,339		2,761,796
Lundin Mining Corp.		127,463		718,662
Magna International Inc.		51,767		3,305,601
Manulife Financial Corp.		342,585		6,270,893
Metro Inc.		43,427		2,404,755


Security	Shares		Value

Canada (continued)
National Bank of Canada^(a)		62,571	$	4,390,304
Northland Power Inc.		38,691		1,268,399
Nutrien Ltd.		99,982		8,558,843
Nuvei Corp.^(b)(c)		13,139		459,257
Onex Corp.		13,829		739,102
Open Text Corp.		49,272		2,015,437
Pan American Silver Corp.		40,834		830,998
Parkland Corp.		28,660		804,150
Pembina Pipeline Corp.		101,483		3,874,510
Power Corp. of Canada		101,440		2,756,715
Quebecor Inc., Class B		23,801		528,787
Restaurant Brands International Inc.		49,246		2,640,067
RioCan REIT		31,932		512,438
Ritchie Bros Auctioneers Inc.		21,118		1,522,152
Rogers Communications Inc., Class B, NVS		65,261		3,000,207
Royal Bank of Canada		254,466		24,811,702
Saputo Inc.		46,606		1,151,183
Shaw Communications Inc., Class B, NVS		85,984		2,325,943
Shopify Inc., Class A^(b)		206,880		7,206,995
Sun Life Financial Inc.		105,858		4,915,323
Suncor Energy Inc.		260,331		8,835,255
TC Energy Corp.		177,845		9,481,456
Teck Resources Ltd., Class B		86,659		2,547,898
TELUS Corp.		86,008		1,980,021
TFI International Inc.		14,752		1,473,414
Thomson Reuters Corp.		30,719		3,449,366
TMX Group Ltd.		10,372		1,064,212
Toromont Industries Ltd.		14,391		1,212,033
Toronto-Dominion Bank (The)		328,430		21,333,652
Tourmaline Oil Corp.		57,149		3,580,543
West Fraser Timber Co. Ltd.^(a)		11,370		1,064,503
Wheaton Precious Metals Corp.		82,926		2,845,471
WSP Global Inc.		20,878		2,518,958


				334,619,151

Chile — 0.1%
Banco de Chile		6,463,268		613,261
Banco de Credito e Inversiones SA		16,538		498,985
Banco Santander Chile		12,131,025		480,475
Cencosud SA		268,978		367,453
Cia. Cervecerias Unidas SA		23,202		133,892
Empresas CMPC SA		211,677		359,647
Empresas COPEC SA		80,636		660,408
Enel Americas SA		3,901,916		394,912
Enel Chile SA		7,925,924		226,932
Falabella SA		153,638		342,706


				4,078,671

China — 9.0%
360 DigiTech Inc.		17,553		254,870
3SBio Inc.^(c)		271,000		180,385
AAC Technologies Holdings Inc.		125,000		242,354
Agricultural Bank of China Ltd., Class A		1,825,400		771,022
Agricultural Bank of China Ltd., Class H		5,261,000		1,735,194
Aier Eye Hospital Group Co. Ltd., Class A		105,874		477,503
Air China Ltd., Class H^(b)		450,000		353,198
Alibaba Group Holding Ltd.^(b)		2,743,964		30,851,673
Alibaba Health Information Technology Ltd.^(b)		982,000		589,689
A-Living Smart City Services Co. Ltd., Class A^(c)		99,000		120,757
Aluminum Corp. of China Ltd., Class H		906,000		331,824
Anhui Conch Cement Co. Ltd., Class A		118,098		568,953


Security	Shares		Value

China (continued)
Anhui Conch Cement Co. Ltd., Class H		155,000	$	613,285
Anhui Gujing Distillery Co. Ltd., Class B		42,700		652,915
ANTA Sports Products Ltd.		205,800		2,266,034
Autohome Inc., ADR		14,073		502,265
AviChina Industry & Technology Co. Ltd., Class H		565,000		301,453
Baidu Inc.^(b)		81,336		1,405,844
Baidu Inc., ADR^(b)		38,869		5,308,339
Bank of Beijing Co. Ltd., Class A		1,004,498		620,913
Bank of China Ltd., Class A		1,241,800		563,136
Bank of China Ltd., Class H		13,418,000		4,771,242
Bank of Communications Co. Ltd., Class A		1,085,800		743,540
Bank of Communications Co. Ltd., Class H		1,033,800		615,331
Bank of Ningbo Co. Ltd., Class A		140,177		649,057
Bank of Shanghai Co. Ltd., Class A		523,499		462,558
Baoshan Iron & Steel Co. Ltd., Class A		439,796		370,210
BeiGene Ltd., ADR^(a)(b)		8,352		1,403,804
Beijing Capital International Airport Co. Ltd., Class H^(b)		386,000		226,912
Beijing Enterprises Holdings Ltd.		90,000		288,448
Beijing Enterprises Water Group Ltd.		810,000		245,576
Beijing Kingsoft Office Software Inc., Class A		10,200		264,896
Beijing-Shanghai High Speed Railway Co. Ltd., Class A		1,356,000		933,955
Bilibili Inc., ADR^(b)		28,786		703,530
Bilibili Inc., Class Z^(b)		2,208		53,971
BOE Technology Group Co. Ltd., Class A		799,900		461,282
Bosideng International Holdings Ltd.		632,000		368,866
BYD Co. Ltd., Class A		27,700		1,321,160
BYD Co. Ltd., Class H		148,500		5,433,017
BYD Electronic International Co. Ltd.		142,000		364,826
CanSino Biologics Inc., Class H^(c)		22,400		187,494
CGN Power Co. Ltd., Class H^(c)		2,380,000		548,789
Changchun High & New Technology Industry Group Inc., Class A		9,400		270,498
China Cinda Asset Management Co. Ltd., Class H		1,574,000		216,821
China CITIC Bank Corp. Ltd., Class H		1,623,000		678,382
China Coal Energy Co. Ltd., Class H		390,000		303,391
China Communications Services Corp. Ltd., Class H		534,000		217,106
China Conch Venture Holdings Ltd.		328,000		635,889
China Construction Bank Corp., Class H		17,597,050		11,237,655
China Everbright Bank Co. Ltd., Class A		623,000		267,868
China Everbright Bank Co. Ltd., Class H		566,000		171,659
China Everbright Environment Group Ltd.		892,037		474,779
China Evergrande Group^(a)(d)		288,000		41,934
China Feihe Ltd.^(c)		712,000		625,189
China Galaxy Securities Co. Ltd., Class H		797,000		394,139
China Gas Holdings Ltd.		575,400		884,473
China Hongqiao Group Ltd.^(a)		465,000		484,565
China International Capital Corp. Ltd., Class H^(c)		332,800		611,928
China Jinmao Holdings Group Ltd.^(b)		976,000		226,497
China Lesso Group Holdings Ltd.		228,000		279,428
China Life Insurance Co. Ltd., Class A		94,000		388,572
China Life Insurance Co. Ltd., Class H		1,141,000		1,699,428
China Literature Ltd.^(b)(c)		71,800		282,970
China Longyuan Power Group Corp. Ltd., Class H		634,000		1,018,559
China Medical System Holdings Ltd.		286,000		454,656
China Meidong Auto Holdings Ltd.		116,000		281,908
China Mengniu Dairy Co. Ltd.		560,000		2,601,756
China Merchants Bank Co. Ltd., Class A		284,400		1,479,472
China Merchants Bank Co. Ltd., Class H		684,093		3,696,358
China Merchants Port Holdings Co. Ltd.		240,000		387,084


Security	Shares		Value

China (continued)
China Merchants Securities Co. Ltd., Class A		224,860	$	463,549
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		202,177		410,525
China Minsheng Banking Corp. Ltd., Class A		972,295		524,504
China Minsheng Banking Corp. Ltd., Class H		693,240		226,097
China National Building Material Co. Ltd., Class H		712,000		714,651
China Northern Rare Earth Group High-Tech Co. Ltd., Class A		67,000		312,070
China Oilfield Services Ltd., Class H		356,000		327,939
China Overseas Land & Investment Ltd.		687,000		1,898,469
China Overseas Property Holdings Ltd.		240,000		250,834
China Pacific Insurance Group Co. Ltd., Class A		183,297		549,194
China Pacific Insurance Group Co. Ltd., Class H		409,800		875,343
China Petroleum & Chemical Corp., Class A		1,067,298		651,442
China Petroleum & Chemical Corp., Class H		4,599,000		2,168,227
China Power International Development Ltd.		1,077,000		610,097
China Railway Group Ltd., Class A		439,896		376,785
China Railway Group Ltd., Class H		562,000		334,556
China Renewable Energy Investment Ltd.^(d)		7,401		—
China Resources Beer Holdings Co. Ltd.		268,000		1,848,587
China Resources Cement Holdings Ltd.		380,000		233,738
China Resources Gas Group Ltd.		168,000		705,000
China Resources Land Ltd.		544,000		2,271,896
China Resources Mixc Lifestyle Services Ltd.^(c)		123,200		521,972
China Resources Power Holdings Co. Ltd.		356,000		670,256
China Ruyi Holdings Ltd.^(a)(b)		912,000		263,975
China Shenhua Energy Co. Ltd., Class A		141,200		587,857
China Shenhua Energy Co. Ltd., Class H		565,000		1,596,882
China Southern Airlines Co. Ltd., Class H^(b)		332,000		179,802
China State Construction Engineering Corp. Ltd., Class A		949,998		709,272
China State Construction International Holdings Ltd.		356,000		369,141
China Suntien Green Energy Corp. Ltd., Class H^(a)		494,000		242,307
China Taiping Insurance Holdings Co. Ltd.		307,600		324,357
China Three Gorges Renewables Group Co. Ltd., Class A		561,100		522,483
China Tourism Group Duty Free Corp. Ltd., Class A		25,898		807,223
China Tower Corp. Ltd., Class H^(c)		8,554,000		1,100,494
China Traditional Chinese Medicine Holdings Co. Ltd.		534,000		226,693
China Vanke Co. Ltd., Class A		214,800		547,185
China Vanke Co. Ltd., Class H		195,700		372,236
China Yangtze Power Co. Ltd., Class A		323,649		1,145,981
Chinasoft International Ltd.		550,000		470,862
Chongqing Zhifei Biological Products Co. Ltd., Class A		26,200		386,340
CIFI Ever Sunshine Services Group Ltd.^(a)		146,000		105,269
CIFI Holdings Group Co. Ltd.		662,688		179,981
CITIC Ltd.		1,053,000		1,138,907
CITIC Securities Co. Ltd., Class A		314,700		915,803
CITIC Securities Co. Ltd., Class H		279,825		575,372
CMOC Group Ltd., Class H		951,000		466,882
Contemporary Amperex Technology Co. Ltd., Class A^(b)		27,200		2,062,368
COSCO SHIPPING Holdings Co. Ltd., Class A		220,330		448,512
COSCO SHIPPING Holdings Co. Ltd., Class H		531,749		797,773
COSCO SHIPPING Ports Ltd.		314,000		234,408
Country Garden Holdings Co. Ltd.^(a)		1,400,828		541,727
Country Garden Services Holdings Co. Ltd.		351,000		782,746
CRRC Corp. Ltd., Class A		583,000		445,328
CRRC Corp. Ltd., Class H		794,000		295,310
CSC Financial Co. Ltd., Class A		129,300		499,306


Security	Shares		Value

China (continued)
CSPC Pharmaceutical Group Ltd.		1,612,960	$	1,766,118
Dali Foods Group Co. Ltd.^(c)		296,500		141,174
Daqo New Energy Corp., ADR^(b)		11,535		746,314
Dongfeng Motor Group Co. Ltd., Class H		448,000		309,566
Dongyue Group Ltd.		325,000		353,482
East Money Information Co. Ltd., Class A		232,652		768,963
ENN Energy Holdings Ltd.		146,600		2,391,426
Eve Energy Co. Ltd., Class A		36,900		517,348
Far East Horizon Ltd.^(a)		274,000		225,841
Flat Glass Group Co. Ltd., Class H^(b)		119,000		431,334
Focus Media Information Technology Co. Ltd., Class A		508,450		445,820
Foshan Haitian Flavouring & Food Co. Ltd., Class A		52,980		649,628
Fosun International Ltd.		474,500		373,841
Fuyao Glass Industry Group Co. Ltd., Class H^(c)		146,400		710,182
Ganfeng Lithium Co. Ltd., Class A		36,400		481,758
Ganfeng Lithium Co. Ltd., Class H^(c)		50,960		460,794
GDS Holdings Ltd., ADR^(b)		15,468		428,154
GDS Holdings Ltd., Class A^(b)		6,900		23,634
Geely Automobile Holdings Ltd.		1,104,000		2,189,115
Genscript Biotech Corp.^(b)		230,000		832,747
GF Securities Co. Ltd., Class H		304,400		402,960
GoerTek Inc., Class A		70,800		334,082
Great Wall Motor Co. Ltd., Class H		631,000		1,000,333
Greentown China Holdings Ltd.		149,000		294,522
Greentown Service Group Co. Ltd.		260,000		232,715
Guangdong Investment Ltd.		564,000		549,407
Guangzhou Automobile Group Co. Ltd., Class H		686,028		643,941
Guotai Junan Securities Co. Ltd., Class A		264,300		566,894
H World Group Ltd., ADR		32,900		1,261,715
Haidilao International Holding Ltd.^(a)(b)(c)		206,000		411,584
Haier Smart Home Co. Ltd., Class A		153,000		562,570
Haier Smart Home Co. Ltd., Class H		347,000		1,110,576
Haitian International Holdings Ltd.		123,000		294,354
Haitong Securities Co. Ltd., Class A		413,092		572,562
Haitong Securities Co. Ltd., Class H		462,800		309,961
Hangzhou Tigermed Consulting Co. Ltd., Class A		30,900		467,638
Hansoh Pharmaceutical Group Co. Ltd.^(c)		234,000		456,088
Henan Shuanghui Investment & Development Co. Ltd., Class A		81,200		322,986
Hengan International Group Co. Ltd.		111,500		539,684
Hengli Petrochemical Co. Ltd., Class A		134,200		401,821
Hopson Development Holdings Ltd.		146,927		194,193
Hua Hong Semiconductor Ltd.^(b)(c)		127,000		380,390
Huaneng Power International Inc., Class H^(b)		952,000		455,162
Huatai Securities Co. Ltd., Class A		322,100		633,997
Huatai Securities Co. Ltd., Class H^(c)		191,800		253,005
Huaxia Bank Co. Ltd., Class A		790,000		599,537
Hutchmed China Ltd., ADR^(a)(b)		20,773		271,503
Hygeia Healthcare Holdings Co. Ltd.^(a)(c)		72,600		417,488
Industrial & Commercial Bank of China Ltd., Class A		1,197,710		777,399
Industrial & Commercial Bank of China Ltd., Class H		9,758,285		5,159,085
Industrial Bank Co. Ltd., Class A		345,142		909,846
Inner Mongolia Yili Industrial Group Co. Ltd., Class A		124,199		659,356
Inner Mongolia Yitai Coal Co. Ltd., Class B		255,600		403,023
Innovent Biologics Inc.^(b)(c)		196,500		821,380
iQIYI Inc., ADR^(a)(b)		62,193		237,577
JA Solar Technology Co. Ltd., Class A		41,260		475,541
JD Health International Inc.^(a)(b)(c)		196,150		1,487,803
JD.com Inc., Class A		366,658		10,938,341
Jiangsu Expressway Co. Ltd., Class H		218,000		190,240


Security	Shares		Value

China (continued)
Jiangsu Hengli Hydraulic Co. Ltd., Class A		38,600	$	298,228
Jiangsu Hengrui Medicine Co. Ltd., Class A		110,156		576,593
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A		26,300		644,241
Jiangxi Copper Co. Ltd., Class H		226,000		276,850
Jinxin Fertility Group Ltd.^(c)		367,000		285,157
Jiumaojiu International Holdings Ltd.^(a)(c)		157,000		341,613
JOYY Inc., ADR		11,427		295,845
Kanzhun Ltd., ADR^(b)		18,315		430,586
KE Holdings Inc., ADR^(b)		60,133		848,477
Kingboard Holdings Ltd.		126,000		368,639
Kingdee International Software Group Co. Ltd.^(a)(b)		480,000		1,036,378
Kingsoft Corp. Ltd.		179,000		597,674
Kuaishou Technology^(b)(c)		321,600		3,233,509
Kunlun Energy Co. Ltd.		702,000		516,789
Kweichow Moutai Co. Ltd., Class A		14,300		4,020,568
Legend Biotech Corp., ADR^(b)		10,529		497,390
Lenovo Group Ltd.		1,326,000		1,285,948
Lens Technology Co. Ltd., Class A		158,925		257,019
Li Auto Inc., ADR^(a)(b)		101,559		3,335,198
Li Ning Co. Ltd.		422,500		3,427,164
Logan Group Co. Ltd.^(a)(d)		182,000		34,777
Longfor Group Holdings Ltd.^(c)		316,000		1,055,872
LONGi Green Energy Technology Co. Ltd., Class A		106,696		975,524
Lufax Holding Ltd., ADR		144,890		663,596
Luxshare Precision Industry Co. Ltd., Class A		116,188		584,790
Luzhou Laojiao Co. Ltd., Class A		20,000		658,903
Mango Excellent Media Co. Ltd., Class A		49,200		229,097
Meituan, Class B^(b)(c)		744,200		16,694,898
Microport Scientific Corp.^(a)(b)		140,000		330,097
Ming Yuan Cloud Group Holdings Ltd.		162,000		148,728
Minth Group Ltd.		152,000		406,332
MMG Ltd.^(b)		500,000		147,901
Muyuan Foods Co. Ltd., Class A		74,058		655,539
NARI Technology Co. Ltd., Class A		167,304		724,433
NAURA Technology Group Co. Ltd., Class A		10,200		384,561
NetEase Inc.		380,685		7,121,383
New China Life Insurance Co. Ltd., Class A		56,800		244,385
New China Life Insurance Co. Ltd., Class H		159,200		379,378
New Hope Liuhe Co. Ltd., Class A^(b)		139,807		329,958
New Oriental Education & Technology Group Inc.^(b)		275,010		753,898
Ningbo Deye Technology Co. Ltd., Class A, NVS		7,952		395,072
NIO Inc., ADR^(b)		241,623		4,767,222
Nongfu Spring Co. Ltd., Class H^(c)		321,000		1,923,813
People’s Insurance Co. Group of China Ltd. (The), Class H		1,422,000		425,756
PetroChina Co. Ltd., Class A		207,100		160,196
PetroChina Co. Ltd., Class H		4,016,000		1,875,309
Pharmaron Beijing Co. Ltd., Class H^(c)		55,200		449,083
PICC Property & Casualty Co. Ltd., Class H		1,260,285		1,293,672
Pinduoduo Inc., ADR^(b)		80,058		3,923,643
Ping An Bank Co. Ltd., Class A		295,800		556,550
Ping An Healthcare and Technology Co. Ltd.^(b)(c)		101,700		265,619
Ping An Insurance Group Co. of China Ltd., Class A		167,106		1,043,795
Ping An Insurance Group Co. of China Ltd., Class H		1,111,500		6,532,328
Poly Developments and Holdings Group Co. Ltd., Class A		259,100		639,509
Postal Savings Bank of China Co. Ltd., Class A		618,700		430,312
Postal Savings Bank of China Co. Ltd., Class H^(a)(c)		1,254,000		829,677
RLX Technology Inc., ADR^(b)		101,724		164,793
Rongsheng Petrochemical Co. Ltd., Class A		198,150		420,162


Security	Shares		Value

China (continued)
SAIC Motor Corp. Ltd., Class A		151,500	$	364,137
Sany Heavy Equipment International Holdings Co. Ltd.		321,000		349,312
Sany Heavy Industry Co. Ltd., Class A		167,627		423,330
Seazen Group Ltd.^(b)		344,000		117,890
SF Holding Co. Ltd., Class A		78,400		579,548
Shaanxi Coal Industry Co. Ltd., Class A		232,800		658,946
Shandong Gold Mining Co. Ltd., Class A		184,200		499,240
Shandong Weigao Group Medical Polymer Co. Ltd., Class H		450,000		562,887
Shanghai Baosight Software Co. Ltd., Class B		207,962		697,619
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H		122,500		443,933
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B		321,712		282,920
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		214,700		323,320
Shanghai Pudong Development Bank Co. Ltd., Class A		566,500		609,644
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A		17,880		726,148
Shenwan Hongyuan Group Co. Ltd., Class A		855,206		524,077
Shenzhen Inovance Technology Co. Ltd., Class A		63,500		622,386
Shenzhen International Holdings Ltd.		226,500		208,627
Shenzhen Kangtai Biological Products Co. Ltd., Class A		32,480		160,701
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		17,600		755,997
Shenzhou International Group Holdings Ltd.		149,800		1,575,620
Shimao Group Holdings Ltd.^(d)		217,500		62,342
Sino Biopharmaceutical Ltd.		2,050,000		1,188,473
Sinopharm Group Co. Ltd., Class H		256,800		588,377
Sinotruk Hong Kong Ltd.		149,000		176,061
Smoore International Holdings Ltd.^(a)(c)		311,000		718,231
Sunac China Holdings Ltd.^(d)		520,000		132,486
Sungrow Power Supply Co. Ltd., Class A		25,800		474,466
Sunny Optical Technology Group Co. Ltd.		134,900		1,825,008
TAL Education Group, ADR^(b)		75,684		372,365
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A		74,100		559,080
Tencent Holdings Ltd.		1,126,300		43,530,156
Tencent Music Entertainment Group, ADR^(b)		121,420		511,178
Tingyi Cayman Islands Holding Corp.		358,000		589,335
Tongcheng Travel Holdings Ltd.^(a)(b)		268,400		513,076
Tongwei Co. Ltd., Class A		69,700		556,236
Topsports International Holdings Ltd.^(c)		318,000		265,247
TravelSky Technology Ltd., Class H		142,000		235,341
Trina Solar Co. Ltd., Class A		42,787		527,843
Trip.com Group Ltd., ADR^(b)		93,208		2,402,902
Tsingtao Brewery Co. Ltd., Class H		108,000		1,054,953
Uni-President China Holdings Ltd.		226,000		206,736
Vipshop Holdings Ltd., ADR^(b)		88,300		808,828
Wanhua Chemical Group Co. Ltd., Class A		56,031		695,784
Want Want China Holdings Ltd.		1,021,000		830,930
Weibo Corp., ADR^(b)		11,421		219,512
Weichai Power Co. Ltd., Class H		427,000		610,477
Wens Foodstuffs Group Co. Ltd., Class A^(b)		201,660		718,979
Wharf Holdings Ltd. (The)^(a)		247,000		903,253
Will Semiconductor Co. Ltd. Shanghai, Class A		25,785		402,904
Wingtech Technology Co. Ltd., Class A		35,500		361,643
Wuliangye Yibin Co. Ltd., Class A		47,700		1,262,271
WuXi AppTec Co. Ltd., Class A		47,814		661,488
WuXi AppTec Co. Ltd., Class H^(c)		45,836		555,265


Security	Shares		Value

China (continued)
Wuxi Biologics Cayman Inc., New^(b)(c)		644,500	$	6,169,227
Xiaomi Corp., Class B^(b)(c)		2,673,200		4,204,370
Xinjiang Goldwind Science & Technology Co. Ltd., Class H		194,600		347,652
Xinyi Solar Holdings Ltd.		870,000		1,477,965
XPeng Inc., ADR^(a)(b)		76,829		1,876,932
Xtep International Holdings Ltd.		275,500		448,038
Yadea Group Holdings Ltd.^(c)		272,000		586,604
Yankuang Energy Group Co. Ltd., Class H		318,000		993,690
Yihai International Holding Ltd.^(a)		98,000		287,068
Yonyou Network Technology Co. Ltd., Class A		73,800		228,505
Yuexiu Property Co. Ltd.		253,200		316,326
Yum China Holdings Inc.		78,019		3,800,305
Yunnan Baiyao Group Co. Ltd., Class A		42,198		345,037
Yunnan Energy New Material Co. Ltd., Class A		17,400		551,968
Zai Lab Ltd., ADR^(b)		16,292		660,315
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A		10,400		456,157
Zhaojin Mining Industry Co. Ltd., Class H^(b)		209,000		199,629
Zhejiang Expressway Co. Ltd., Class H		168,000		135,218
Zhejiang Huayou Cobalt Co. Ltd., Class A		32,500		406,216
ZhongAn Online P&C Insurance Co. Ltd., Class H^(a)(b)(c)		124,700		316,640
Zhongsheng Group Holdings Ltd.		118,000		675,542
Zhuzhou CRRC Times Electric Co. Ltd.		118,600		509,310
Zijin Mining Group Co. Ltd., Class A		468,700		620,875
Zijin Mining Group Co. Ltd., Class H		844,000		989,009
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H		324,400		168,657
ZTE Corp., Class A		43,200		156,532
ZTE Corp., Class H		130,800		281,474
ZTO Express Cayman Inc., ADR		79,098		2,024,118


				371,415,359

Colombia — 0.0%
Bancolombia SA		35,968		301,957
Ecopetrol SA		1,076,244		572,390
Interconexion Electrica SA ESP		75,843		364,442


				1,238,789

Czech Republic — 0.1%
CEZ AS		36,185		1,644,362
Komercni Banka AS		14,430		364,594
Moneta Money Bank AS^(c)		63,542		211,596


				2,220,552

Denmark — 1.8%
AP Moller - Maersk A/S, Class A		611		1,636,854
AP Moller - Maersk A/S, Class B, NVS		953		2,602,007
Carlsberg A/S, Class B		18,122		2,343,934
Chr Hansen Holding A/S		20,117		1,316,714
Coloplast A/S, Class B		21,476		2,513,528
Danske Bank A/S		117,120		1,637,841
Demant A/S^(b)		20,272		772,276
DSV A/S		35,615		6,001,160
Genmab A/S^(b)		11,752		4,181,595
GN Store Nord A/S		24,619		857,335
Novo Nordisk A/S, Class B		304,931		35,516,458
Novozymes A/S, Class B		37,939		2,423,553
Orsted A/S^(c)		34,909		4,063,988
Pandora A/S		17,846		1,325,810
Rockwool A/S, Class B		1,719		425,966


Security	Shares		Value

Denmark (continued)
Tryg A/S		61,920	$	1,411,859
Vestas Wind Systems A/S		184,977		4,861,885


				73,892,763

Egypt — 0.0%
Commercial International Bank Egypt SAE		307,664		617,071
Eastern Co. SAE		149,094		77,618


				694,689

Finland — 0.8%
Elisa OYJ		23,621		1,306,361
Fortum OYJ		82,120		921,739
Kesko OYJ, Class B		53,570		1,324,956
Kone OYJ, Class B		61,200		2,796,928
Neste OYJ		76,733		3,945,709
Nokia OYJ		983,927		5,124,862
Nordea Bank Abp		584,295		5,761,128
Orion OYJ, Class B		21,304		1,017,000
Sampo OYJ, Class A		87,725		3,789,960
Stora Enso OYJ, Class R		97,960		1,515,019
UPM-Kymmene OYJ		97,105		3,077,234
Wartsila OYJ Abp		90,752		797,395


				31,378,291

France — 7.0%
Accor SA^(b)		33,094		858,753
Aeroports de Paris^(b)		5,661		782,191
Air Liquide SA		94,176		12,947,540
Airbus SE		106,192		11,449,800
Alstom SA^(a)		53,338		1,267,614
Amundi SA^(c)		11,406		619,287
ArcelorMittal SA		109,797		2,709,124
Arkema SA		11,144		1,055,733
AXA SA		347,604		8,009,668
BioMerieux		6,739		729,411
BNP Paribas SA		200,095		9,453,946
Bollore SE		143,472		724,370
Bouygues SA^(a)		36,809		1,112,726
Bureau Veritas SA		55,365		1,527,000
Capgemini SE		29,889		5,700,933
Carrefour SA		111,815		1,905,556
Cie Generale des Etablissements Michelin SCA		122,196		3,419,602
Cie. de Saint-Gobain		89,667		4,181,156
Covivio		8,518		538,709
Credit Agricole SA		223,929		2,063,244
Danone SA		115,437		6,365,099
Dassault Aviation SA		4,851		693,803
Dassault Systemes SE		121,399		5,207,006
Edenred		44,913		2,305,407
Eiffage SA^(a)		14,963		1,404,113
Electricite de France SA		102,636		1,246,437
Engie SA		332,044		4,108,160
EssilorLuxottica SA		52,204		8,184,665
Eurazeo SE		6,301		450,065
Eurofins Scientific SE		24,821		1,935,005
Gecina SA		8,275		848,441
Getlink SE		79,253		1,586,195
Hermes International		5,746		7,883,189
Ipsen SA		7,330		741,482
Kering SA		13,646		7,812,212
Klepierre SA		35,116		780,279
La Francaise des Jeux SAEM^(c)		17,586		628,137


Security	Shares		Value

France (continued)
Legrand SA		48,173	$	3,943,857
L’Oreal SA		43,461		16,430,749
LVMH Moet Hennessy Louis Vuitton SE		49,996		34,714,922
Orange SA		359,088		3,669,316
Pernod Ricard SA		37,587		7,383,753
Publicis Groupe SA		41,447		2,205,616
Remy Cointreau SA		4,361		861,547
Renault SA^(b)		34,771		1,027,983
Safran SA		61,564		6,766,840
Sanofi		204,592		20,331,027
Sartorius Stedim Biotech		5,232		2,093,006
Schneider Electric SE		97,369		13,466,505
SEB SA		4,730		398,221
Societe Generale SA		143,243		3,209,559
Sodexo SA		16,111		1,309,076
Teleperformance		10,848		3,627,581
Thales SA		19,220		2,390,192
TotalEnergies SE		446,566		22,809,410
Ubisoft Entertainment SA^(b)		16,729		712,227
Unibail-Rodamco-Westfield^(a)(b)		21,572		1,224,960
Valeo		37,139		797,747
Veolia Environnement SA		122,604		3,066,429
Vinci SA		96,556		9,255,737
Vivendi SE		132,893		1,261,597
Wendel SE		5,639		519,011
Worldline SA/France^(b)(c)		43,889		1,937,178


				288,650,104

Germany — 4.5%
adidas AG		31,167		5,391,625
Allianz SE, Registered		72,865		13,232,727
Aroundtown SA^(a)		161,348		517,449
BASF SE		166,216		7,407,445
Bayer AG, Registered		178,633		10,419,705
Bayerische Motoren Werke AG		60,482		4,942,185
Bechtle AG		15,345		709,765
Beiersdorf AG		18,471		1,904,817
Brenntag SE		28,514		2,002,968
Carl Zeiss Meditec AG, Bearer		7,753		1,131,471
Commerzbank AG^(b)		191,505		1,312,025
Continental AG		20,436		1,455,884
Covestro AG^(c)		33,277		1,122,279
Daimler Truck Holding AG^(b)		74,910		2,046,912
Delivery Hero SE^(b)(c)		30,021		1,448,404
Deutsche Bank AG, Registered		378,163		3,307,774
Deutsche Boerse AG		34,865		6,086,219
Deutsche Lufthansa AG, Registered^(a)(b)		116,460		716,911
Deutsche Post AG, Registered		178,526		7,130,304
Deutsche Telekom AG, Registered		598,205		11,365,282
E.ON SE		414,258		3,723,807
Evonik Industries AG		37,226		794,019
Fresenius Medical Care AG & Co. KGaA		35,128		1,302,317
Fresenius SE & Co. KGaA		73,295		1,875,543
GEA Group AG		30,999		1,157,118
Hannover Rueck SE		10,328		1,464,996
HeidelbergCement AG		26,414		1,345,450
HelloFresh SE^(b)		30,244		835,936
Henkel AG & Co. KGaA		20,162		1,271,311
Infineon Technologies AG		237,266		6,506,893
KION Group AG		14,427		658,053
Knorr-Bremse AG		12,877		767,154


Security	Shares		Value

Germany (continued)
LEG Immobilien SE		12,639	$	1,148,193
Mercedes-Benz Group AG		146,815		8,658,265
Merck KGaA		23,889		4,549,914
MTU Aero Engines AG		9,938		1,921,148
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered		24,630		5,583,769
Nemetschek SE		11,760		787,292
Puma SE		18,179		1,227,514
QIAGEN NV^(b)		42,684		2,139,184
Rational AG		944		658,011
Rheinmetall AG		7,340		1,345,988
RWE AG		118,242		4,864,233
SAP SE		188,027		17,537,787
Scout24 SE^(c)		15,551		889,027
Siemens AG, Registered		138,896		15,493,010
Siemens Healthineers AG^(c)		51,290		2,628,286
Symrise AG		23,574		2,750,746
Telefonica Deutschland Holding AG		180,310		479,377
Uniper SE^(a)		17,609		117,653
United Internet AG, Registered		20,462		538,993
Volkswagen AG		5,735		1,135,918
Vonovia SE		128,336		4,276,129
Zalando SE^(b)(c)		40,745		1,147,099


				185,232,284

Greece — 0.1%
Alpha Services and Holdings SA^(b)		382,734		340,187
Eurobank Ergasias Services and Holdings SA, Class A^(b)		430,381		396,455
Hellenic Telecommunications Organization SA		34,927		601,371
JUMBO SA		23,107		358,269
OPAP SA		39,345		545,098
Public Power Corp. SA^(b)		35,447		210,275


				2,451,655

Hong Kong — 1.9%
AIA Group Ltd.		2,203,200		22,134,765
Alibaba Pictures Group Ltd.^(b)		2,830,000		241,476
BOC Hong Kong Holdings Ltd.		687,500		2,486,904
Budweiser Brewing Co. APAC Ltd.^(a)(c)		300,800		832,896
Chow Tai Fook Jewellery Group Ltd.^(a)		416,800		824,329
CK Asset Holdings Ltd.		348,060		2,464,170
CK Hutchison Holdings Ltd.		472,560		3,134,621
CK Infrastructure Holdings Ltd.		130,500		818,336
CLP Holdings Ltd.		299,500		2,539,631
ESR Group Ltd.^(b)(c)		386,000		1,003,764
Futu Holdings Ltd., ADR^(b)		11,813		491,421
Galaxy Entertainment Group Ltd.		373,000		2,219,004
Hang Lung Properties Ltd.		361,000		658,642
Hang Seng Bank Ltd.		142,700		2,301,839
Henderson Land Development Co. Ltd.		204,617		712,302
HK Electric Investments & HK Electric Investments Ltd., Class SS		605,000		547,204
HKT Trust & HKT Ltd., Class SS		658,000		921,934
Hong Kong & China Gas Co. Ltd.		2,066,748		2,182,759
Hong Kong Exchanges & Clearing Ltd.		209,300		9,604,868
Hongkong Land Holdings Ltd.		198,400		1,031,295
Jardine Matheson Holdings Ltd.		37,200		1,964,748
Kingboard Laminates Holdings Ltd.		218,000		199,793
Link REIT		390,400		3,269,338
MTR Corp. Ltd.		263,000		1,392,718


Security	Shares		Value

Hong Kong (continued)
New World Development Co. Ltd.		255,750	$	855,202
Nine Dragons Paper Holdings Ltd.		299,000		246,598
Orient Overseas International Ltd.		25,500		888,693
Power Assets Holdings Ltd.		252,500		1,653,306
Sands China Ltd.^(b)		423,200		992,633
Sino Land Co. Ltd.		594,000		882,587
SITC International Holdings Co. Ltd.		241,000		820,587
Sun Hung Kai Properties Ltd.		237,000		2,829,100
Swire Pacific Ltd., Class A		94,500		538,189
Swire Properties Ltd.		208,800		497,514
Techtronic Industries Co. Ltd.		257,500		2,857,380
Vinda International Holdings Ltd.		73,000		193,894
WH Group Ltd.^(c)		1,505,500		1,140,171
Wharf Real Estate Investment Co. Ltd.		275,000		1,224,082
Xinyi Glass Holdings Ltd.		316,000		623,257


				80,221,950

Hungary — 0.0%
MOL Hungarian Oil & Gas PLC		86,035		633,426
OTP Bank Nyrt		39,032		805,792
Richter Gedeon Nyrt		16,628		340,130


				1,779,348

India — 4.0%
ACC Ltd.		19,160		540,411
Adani Enterprises Ltd.		51,422		1,673,103
Adani Green Energy Ltd.^(b)		59,802		1,648,294
Adani Ports & Special Economic Zone Ltd.		107,650		1,040,516
Adani Power Ltd.^(b)		137,775		549,556
Adani Total Gas Ltd.		50,331		1,991,025
Adani Transmission Ltd.^(b)		49,414		1,947,517
Ambuja Cements Ltd.		131,318		622,881
Apollo Hospitals Enterprise Ltd.		20,335		1,085,308
Asian Paints Ltd.		73,676		3,112,430
Aurobindo Pharma Ltd.		56,816		392,979
Avenue Supermarts Ltd.^(b)(c)		30,097		1,618,791
Axis Bank Ltd.		379,293		3,484,866
Bajaj Auto Ltd.		14,941		739,778
Bajaj Finance Ltd.		50,215		4,595,952
Bajaj Finserv Ltd.		7,799		1,489,286
Bandhan Bank Ltd.^(c)		125,976		441,314
Bharat Electronics Ltd.		189,419		658,920
Bharat Petroleum Corp. Ltd.		159,895		668,104
Bharti Airtel Ltd.^(b)		420,839		3,608,795
Biocon Ltd.		88,234		342,917
Britannia Industries Ltd.		22,850		1,127,116
Cholamandalam Investment and Finance Co. Ltd.		75,953		674,759
Cipla Ltd.		90,474		1,118,416
Coal India Ltd.		276,742		739,281
Colgate-Palmolive India Ltd.		25,199		505,364
Dabur India Ltd.		113,819		840,774
Divi’s Laboratories Ltd.		25,252		1,224,969
DLF Ltd.		81,109		396,911
Dr. Reddy’s Laboratories Ltd.		22,681		1,173,608
Eicher Motors Ltd.		26,345		1,032,117
GAIL India Ltd.		346,112		641,652
Godrej Consumer Products Ltd.^(b)		79,156		854,818
Godrej Properties Ltd.^(b)		19,545		373,386
Grasim Industries Ltd.		60,803		1,212,174
Havells India Ltd.		45,111		713,803
HCL Technologies Ltd.		198,539		2,387,631


Security	Shares		Value

India (continued)
HDFC Life Insurance Co. Ltd.^(c)		171,647	$	1,206,471
Hero MotoCorp Ltd.		23,711		846,552
Hindalco Industries Ltd.		266,366		1,401,945
Hindustan Unilever Ltd.		150,775		5,036,916
Housing Development Finance Corp. Ltd.		311,969		9,414,542
ICICI Bank Ltd.		879,276		9,145,134
ICICI Lombard General Insurance Co. Ltd.^(c)		39,035		602,603
ICICI Prudential Life Insurance Co. Ltd.^(c)		82,337		577,314
Indian Railway Catering & Tourism Corp. Ltd.		44,952		363,615
Indraprastha Gas Ltd.		74,045		324,528
Indus Towers Ltd.		142,911		402,579
Info Edge India Ltd.		16,256		893,201
Infosys Ltd.		611,873		12,002,636
InterGlobe Aviation Ltd.^(b)(c)		24,829		588,752
ITC Ltd.		524,817		2,012,626
JSW Steel Ltd.		146,892		1,170,031
Jubilant Foodworks Ltd.		85,370		595,967
Kotak Mahindra Bank Ltd.		102,174		2,346,517
Larsen & Toubro Infotech Ltd.^(c)		10,059		603,774
Larsen & Toubro Ltd.		127,269		2,916,850
Lupin Ltd.		44,642		363,635
Mahindra & Mahindra Ltd.		163,238		2,408,578
Marico Ltd.		112,493		737,381
Maruti Suzuki India Ltd.		24,141		2,686,391
Mindtree Ltd.		11,640		504,260
Mphasis Ltd.		13,628		397,479
MRF Ltd.		465		492,882
Nestle India Ltd.		6,284		1,538,924
NTPC Ltd.		823,530		1,592,686
Oil & Natural Gas Corp. Ltd.		486,717		826,245
Page Industries Ltd.		1,162		718,620
Petronet LNG Ltd.		177,845		494,975
PI Industries Ltd.		3,995		156,219
Pidilite Industries Ltd.		33,580		1,041,730
Piramal Enterprises Ltd.		25,331		568,467
Power Grid Corp. of India Ltd.		537,624		1,455,918
Reliance Industries Ltd.		535,529		17,032,137
Samvardhana Motherson International Ltd.		264,815		427,421
SBI Cards & Payment Services Ltd.		28,034		333,447
SBI Life Insurance Co. Ltd.^(c)		85,608		1,402,397
Shree Cement Ltd.		2,152		558,550
Shriram Transport Finance Co. Ltd.		41,434		725,267
Siemens Ltd.		13,171		448,930
SRF Ltd.		25,948		798,845
State Bank of India		340,185		2,279,605
Sun Pharmaceutical Industries Ltd.		168,079		2,004,714
Tata Consultancy Services Ltd.		163,597		6,843,063
Tata Consumer Products Ltd.		129,082		1,325,450
Tata Elxsi Ltd.		6,516		718,267
Tata Motors Ltd.^(b)		309,281		1,764,663
Tata Power Co. Ltd. (The)		268,595		756,143
Tata Steel Ltd.		1,309,830		1,782,766
Tech Mahindra Ltd.		109,126		1,451,094
Titan Co. Ltd.		68,456		2,038,735
Trent Ltd.		28,354		455,632
UltraTech Cement Ltd.		19,308		1,600,405
United Spirits Ltd.^(b)		71,598		705,587
UPL Ltd.		102,582		962,377
Vedanta Ltd.		166,637		536,713
Wipro Ltd.		238,126		1,270,595


Security	Shares		Value

India (continued)
Yes Bank Ltd.^(b)		1,694,931	$	320,603
Zomato Ltd.^(b)		257,457		153,030


				164,402,901

Indonesia — 0.5%
Adaro Energy Indonesia Tbk PT		2,815,600		618,244
Adaro Minerals Indonesia Tbk PT^(b)		1,567,600		195,460
Aneka Tambang Tbk		1,652,400		218,284
Astra International Tbk PT		3,613,000		1,543,105
Bank Central Asia Tbk PT		9,551,600		4,749,628
Bank Jago Tbk PT^(b)		726,800		519,377
Bank Mandiri Persero Tbk PT		3,520,084		1,970,396
Bank Negara Indonesia Persero Tbk PT		1,226,600		650,976
Bank Rakyat Indonesia Persero Tbk PT		12,645,816		3,732,954
Barito Pacific Tbk PT		6,016,400		365,471
Charoen Pokphand Indonesia Tbk PT		1,556,800		587,769
Gudang Garam Tbk PT		95,100		178,568
Indah Kiat Pulp & Paper Tbk PT		607,900		311,732
Indofood CBP Sukses Makmur Tbk PT		324,000		192,853
Indofood Sukses Makmur Tbk PT		591,300		271,200
Kalbe Farma Tbk PT		4,872,200		532,398
Merdeka Copper Gold Tbk PT^(b)		2,686,607		737,335
Sarana Menara Nusantara Tbk PT		3,412,000		270,365
Semen Indonesia Persero Tbk PT		677,400		298,493
Sumber Alfaria Trijaya Tbk PT		3,015,500		381,751
Telkom Indonesia Persero Tbk PT		9,195,700		2,626,476
Tower Bersama Infrastructure Tbk PT		1,590,900		329,833
Unilever Indonesia Tbk PT		1,468,200		447,065
United Tractors Tbk PT		344,945		753,847


				22,483,580

Ireland — 0.4%
CRH PLC		147,896		5,675,382
Flutter Entertainment PLC, Class DI^(b)		30,051		3,017,103
James Hardie Industries PLC		81,291		2,007,620
Kerry Group PLC, Class A		28,541		3,012,534
Kingspan Group PLC		30,163		1,952,393
Smurfit Kappa Group PLC		41,732		1,512,676


				17,177,708

Israel — 0.5%
Azrieli Group Ltd.		8,603		689,590
Bank Hapoalim BM		198,035		1,845,687
Bank Leumi Le-Israel BM		264,677		2,573,616
Check Point Software Technologies Ltd.^(b)		18,948		2,360,921
CyberArk Software Ltd.^(a)(b)		7,779		1,012,281
Elbit Systems Ltd.		6,030		1,391,322
ICL Group Ltd.		145,052		1,321,774
Isracard Ltd.		1		3
Israel Discount Bank Ltd., Class A		192,499		1,094,522
Kornit Digital Ltd.^(b)		9,838		267,692
Mizrahi Tefahot Bank Ltd.		24,252		901,593
Nice Ltd.^(b)		11,911		2,542,967
Teva Pharmaceutical Industries Ltd., ADR^(a)(b)		201,497		1,890,042
Tower Semiconductor Ltd.^(b)		20,222		963,941
Wix.com Ltd.^(b)		10,380		615,845
ZIM Integrated Shipping Services Ltd.		15,480		771,214


				20,243,010

Italy — 1.3%
Amplifon SpA		23,251		768,867
Assicurazioni Generali SpA		196,767		2,941,597
Atlantia SpA		89,527		2,069,026


Security	Shares		Value

Italy (continued)
DiaSorin SpA		4,656	$	647,381
Enel SpA		1,442,551		7,272,281
Eni SpA		457,190		5,495,688
Ferrari NV		23,229		4,932,962
FinecoBank Banca Fineco SpA		98,828		1,228,231
Infrastrutture Wireless Italiane SpA^(c)		73,960		777,199
Intesa Sanpaolo SpA		2,996,985		5,322,071
Mediobanca Banca di Credito Finanziario SpA		118,332		1,014,899
Moncler SpA		37,581		1,883,893
Nexi SpA^(a)(b)(c)		89,952		816,948
Poste Italiane SpA^(c)		82,333		691,623
Prysmian SpA		47,336		1,505,138
Recordati Industria Chimica e Farmaceutica SpA		16,877		748,483
Snam SpA		381,969		1,916,542
Stellantis NV		376,115		5,401,106
Telecom Italia SpA/Milano^(b)		1,782,422		395,447
Tenaris SA		93,343		1,306,245
Terna - Rete Elettrica Nazionale		261,276		2,000,278
UniCredit SpA		387,141		3,828,703


				52,964,608

Japan — 14.1%
Advantest Corp.		34,000		2,022,217
Aeon Co. Ltd.		116,300		2,345,412
AGC Inc.		32,500		1,184,730
Aisin Corp.		26,300		781,073
Ajinomoto Co. Inc.		84,800		2,231,595
ANA Holdings Inc.^(b)		27,900		520,856
Asahi Group Holdings Ltd.		79,300		2,756,971
Asahi Intecc Co. Ltd.		41,300		764,051
Asahi Kasei Corp.		228,200		1,830,713
Astellas Pharma Inc.		337,900		5,291,982
Azbil Corp.		24,500		737,527
Bandai Namco Holdings Inc.		35,900		2,804,594
Bridgestone Corp.		103,200		4,025,404
Brother Industries Ltd.		50,300		942,191
Canon Inc.		182,300		4,312,820
Capcom Co. Ltd.		33,300		925,658
Central Japan Railway Co.		25,100		2,939,131
Chiba Bank Ltd. (The)		107,200		594,623
Chubu Electric Power Co. Inc.		113,600		1,211,818
Chugai Pharmaceutical Co. Ltd.		118,200		3,320,567
Concordia Financial Group Ltd.		211,100		718,162
CyberAgent Inc.		74,400		742,393
Dai Nippon Printing Co. Ltd.		40,800		900,347
Daifuku Co. Ltd.		17,300		1,103,161
Dai-ichi Life Holdings Inc.		184,400		3,207,615
Daiichi Sankyo Co. Ltd.		317,800		8,426,373
Daikin Industries Ltd.		45,100		7,909,558
Daito Trust Construction Co. Ltd.		10,600		1,004,907
Daiwa House Industry Co. Ltd.		107,900		2,666,001
Daiwa House REIT Investment Corp.		379		912,175
Daiwa Securities Group Inc.		254,300		1,173,906
Denso Corp.		77,600		4,244,337
Dentsu Group Inc.		37,600		1,313,426
Disco Corp.		5,300		1,294,947
East Japan Railway Co.		54,500		2,845,279
Eisai Co. Ltd.		45,400		2,079,085
ENEOS Holdings Inc.		560,500		2,168,239
FANUC Corp.		34,500		5,949,886
Fast Retailing Co. Ltd.		10,500		6,358,698


Security	Shares		Value

Japan (continued)
Fuji Electric Co. Ltd.		22,900	$	1,034,299
FUJIFILM Holdings Corp.		63,600		3,632,961
Fujitsu Ltd.		35,400		4,745,807
GLP J-Reit		800		1,052,123
GMO Payment Gateway Inc.		8,200		681,444
Hakuhodo DY Holdings Inc.		43,300		445,369
Hamamatsu Photonics KK		25,400		1,154,198
Hankyu Hanshin Holdings Inc.		41,200		1,195,077
Hikari Tsushin Inc.		3,700		407,696
Hirose Electric Co. Ltd.		7,300		1,048,758
Hitachi Construction Machinery Co. Ltd.		20,100		443,443
Hitachi Ltd.		172,700		8,743,463
Hitachi Metals Ltd.^(b)		43,400		667,355
Honda Motor Co. Ltd.		289,600		7,421,631
Hoshizaki Corp.		21,300		635,422
Hoya Corp.		66,400		6,652,725
Hulic Co. Ltd.		68,200		546,970
Ibiden Co. Ltd.		20,500		604,987
Idemitsu Kosan Co. Ltd.		34,872		906,839
Iida Group Holdings Co. Ltd.		25,700		420,771
Inpex Corp.		187,900		2,153,667
Isuzu Motors Ltd.		105,300		1,154,994
Ito En Ltd.		11,200		527,759
ITOCHU Corp.		214,300		6,238,200
Itochu Techno-Solutions Corp.		16,400		439,515
Japan Airlines Co. Ltd.^(b)		26,200		453,868
Japan Exchange Group Inc.		94,300		1,499,439
Japan Metropolitan Fund Invest		1,299		1,058,543
Japan Post Bank Co. Ltd.^(a)		72,200		577,575
Japan Post Holdings Co. Ltd.		442,700		3,187,365
Japan Post Insurance Co. Ltd.		34,400		556,174
Japan Real Estate Investment Corp.		222		1,072,029
Japan Tobacco Inc.		211,500		3,797,612
JFE Holdings Inc.		85,200		960,617
JSR Corp.		36,300		1,005,435
Kajima Corp.		72,600		828,780
Kakaku.com Inc.		25,600		501,418
Kansai Electric Power Co. Inc. (The)		124,100		1,258,216
Kao Corp.		82,700		3,596,986
KDDI Corp.		292,000		9,362,197
Keio Corp.		18,700		716,025
Keisei Electric Railway Co. Ltd.		25,400		696,387
Keyence Corp.		35,000		13,871,973
Kikkoman Corp.		26,200		1,553,521
Kintetsu Group Holdings Co. Ltd.		30,200		998,018
Kirin Holdings Co. Ltd.		148,100		2,436,001
Kobayashi Pharmaceutical Co. Ltd.		9,700		646,213
Kobe Bussan Co. Ltd.		30,500		869,407
Koei Tecmo Holdings Co. Ltd.		13,700		478,272
Koito Manufacturing Co. Ltd.		19,500		640,998
Komatsu Ltd.		166,600		3,851,521
Konami Group Corp.		16,400		969,329
Kose Corp.		6,300		562,350
Kubota Corp.^(a)		185,900		3,086,561
Kurita Water Industries Ltd.		23,100		936,926
Kyocera Corp.		57,400		3,190,801
Kyowa Kirin Co. Ltd.		50,100		1,181,119
Lasertec Corp.		13,500		1,932,796
Lixil Corp.		53,600		1,109,265
M3 Inc.		77,000		2,682,673


Security	Shares		Value

Japan (continued)
Makita Corp.		38,800	$	948,212
Marubeni Corp.		283,300		2,635,332
Mazda Motor Corp.		104,400		880,047
McDonald’s Holdings Co. Japan Ltd.		17,600		660,624
MEIJI Holdings Co. Ltd.		20,590		1,075,004
MINEBEA MITSUMI Inc.		64,200		1,154,838
MISUMI Group Inc.		51,900		1,291,184
Mitsubishi Chemical Group Corp.		225,700		1,269,230
Mitsubishi Corp.		228,900		6,802,742
Mitsubishi Electric Corp.		347,900		3,671,815
Mitsubishi Estate Co. Ltd.		209,400		3,109,926
Mitsubishi HC Capital Inc.		128,100		620,760
Mitsubishi Heavy Industries Ltd.		58,400		2,168,536
Mitsubishi UFJ Financial Group Inc.		2,171,700		12,236,426
Mitsui & Co. Ltd.		258,800		5,709,714
Mitsui Chemicals Inc.		30,900		650,885
Mitsui Fudosan Co. Ltd.		164,000		3,665,304
Mitsui OSK Lines Ltd.		63,100		1,730,259
Mizuho Financial Group Inc.		434,760		5,185,110
MonotaRO Co. Ltd.		51,800		924,906
MS&AD Insurance Group Holdings Inc.		79,200		2,568,562
Murata Manufacturing Co. Ltd.		102,700		5,998,778
NEC Corp.		41,500		1,531,949
Nexon Co. Ltd.		89,100		2,022,757
NGK Insulators Ltd.		45,800		669,881
Nidec Corp.		80,500		5,594,271
Nihon M&A Center Holdings Inc.		59,100		790,878
Nintendo Co. Ltd.		19,900		8,898,744
Nippon Building Fund Inc.		263		1,395,148
Nippon Express Holdings Inc.		13,800		824,624
Nippon Paint Holdings Co. Ltd.		151,700		1,159,621
Nippon Prologis REIT Inc.		387		1,006,396
Nippon Sanso Holdings Corp.		35,300		595,252
Nippon Shinyaku Co. Ltd.		9,300		575,592
Nippon Steel Corp.		154,386		2,297,299
Nippon Telegraph & Telephone Corp.		216,400		6,181,535
Nippon Yusen KK		29,100		2,285,843
Nissan Chemical Corp.		22,300		1,140,269
Nissan Motor Co. Ltd.		419,400		1,594,920
Nisshin Seifun Group Inc.		38,625		475,452
Nissin Foods Holdings Co. Ltd.		14,000		1,013,965
Nitori Holdings Co. Ltd.		14,400		1,523,499
Nitto Denko Corp.		24,900		1,603,442
Nomura Holdings Inc.		529,500		2,020,313
Nomura Real Estate Holdings Inc.		23,200		562,817
Nomura Real Estate Master Fund Inc.		733		918,295
Nomura Research Institute Ltd.		58,600		1,760,596
NTT Data Corp.		108,900		1,648,201
Obayashi Corp.		116,900		859,734
Obic Co. Ltd.		12,100		1,934,423
Odakyu Electric Railway Co. Ltd.		52,600		754,411
Oji Holdings Corp.		142,400		593,688
Olympus Corp.		226,600		4,849,728
Omron Corp.		32,100		1,795,289
Ono Pharmaceutical Co. Ltd.		67,600		1,900,837
Open House Group Co. Ltd.		14,600		636,928
Oracle Corp. Japan		7,200		449,051
Oriental Land Co. Ltd./Japan		36,000		5,465,833
ORIX Corp.		220,800		3,935,058
Osaka Gas Co. Ltd.		71,100		1,278,243


Security	Shares		Value

Japan (continued)
Otsuka Corp.		18,400	$	573,817
Otsuka Holdings Co. Ltd.		67,300		2,404,155
Pan Pacific International Holdings Corp.		71,200		1,108,617
Panasonic Holdings Corp.		406,100		3,352,817
Persol Holdings Co. Ltd.		34,400		712,141
Rakuten Group Inc.		156,100		773,872
Recruit Holdings Co. Ltd.		259,800		9,709,514
Renesas Electronics Corp.^(b)		228,100		2,172,618
Resona Holdings Inc.		380,100		1,477,162
Ricoh Co. Ltd.		112,100		901,627
Rohm Co. Ltd.		15,300		1,135,422
SBI Holdings Inc/Japan		42,700		866,273
SCSK Corp.		26,900		473,716
Secom Co. Ltd.		36,100		2,411,121
Seiko Epson Corp.		52,500		788,690
Sekisui Chemical Co. Ltd.		70,700		994,711
Sekisui House Ltd.		110,200		1,951,796
Seven & i Holdings Co. Ltd.		136,000		5,543,388
SG Holdings Co. Ltd.		55,000		1,049,649
Sharp Corp./Japan^(a)		34,000		273,666
Shimadzu Corp.		42,200		1,501,431
Shimano Inc.		13,300		2,221,715
Shimizu Corp.		98,000		555,527
Shin-Etsu Chemical Co. Ltd.		67,500		8,646,361
Shionogi & Co. Ltd.		47,600		2,441,473
Shiseido Co. Ltd.		70,600		2,904,005
Shizuoka Bank Ltd. (The)		88,300		534,340
SMC Corp.		10,300		5,076,214
SoftBank Corp.		512,300		5,923,341
SoftBank Group Corp.		217,600		9,140,674
Sompo Holdings Inc.		56,400		2,517,200
Sony Group Corp.		230,000		19,510,419
Square Enix Holdings Co. Ltd.		16,700		774,876
Subaru Corp.		109,800		1,910,619
SUMCO Corp.		61,400		859,153
Sumitomo Chemical Co. Ltd.		254,200		998,988
Sumitomo Corp.		202,900		2,852,764
Sumitomo Electric Industries Ltd.		137,800		1,536,303
Sumitomo Metal Mining Co. Ltd.		45,000		1,414,971
Sumitomo Mitsui Financial Group Inc.		232,600		7,297,148
Sumitomo Mitsui Trust Holdings Inc.		60,900		2,000,519
Sumitomo Realty & Development Co. Ltd.		55,200		1,524,241
Suntory Beverage & Food Ltd.		23,300		919,358
Suzuki Motor Corp.		66,300		2,173,270
Sysmex Corp.		29,100		2,037,344
T&D Holdings Inc.		97,000		1,097,850
Taisei Corp.		31,600		1,008,255
Takeda Pharmaceutical Co. Ltd.		270,213		7,928,101
TDK Corp.		70,100		2,207,775
Terumo Corp.		116,400		3,974,314
TIS Inc.		41,400		1,173,861
Tobu Railway Co. Ltd.		36,900		876,186
Toho Co. Ltd./Tokyo		22,500		893,492
Tokio Marine Holdings Inc.		112,900		6,609,157
Tokyo Electric Power Co. Holdings Inc.^(b)		277,400		1,091,670
Tokyo Electron Ltd.		26,900		9,258,804
Tokyo Gas Co. Ltd.		72,100		1,416,109
Tokyu Corp.		95,600		1,172,207
Toppan Inc.		49,400		840,563
Toray Industries Inc.		252,000		1,380,289


Security	Shares		Value

Japan (continued)
Toshiba Corp.		70,200	$	2,847,840
Tosoh Corp.		47,300		616,565
TOTO Ltd.		23,800		810,672
Toyota Industries Corp.		26,400		1,607,481
Toyota Motor Corp.		1,911,300		31,022,356
Toyota Tsusho Corp.		36,300		1,238,899
Trend Micro Inc/Japan		22,200		1,290,135
Unicharm Corp.		73,300		2,655,090
USS Co. Ltd.		50,300		987,013
Welcia Holdings Co. Ltd.		20,200		451,165
West Japan Railway Co.		39,600		1,454,536
Yakult Honsha Co. Ltd.		23,700		1,443,318
Yamaha Corp.		23,100		985,309
Yamaha Motor Co. Ltd.		50,100		967,788
Yamato Holdings Co. Ltd.		47,200		825,953
Yaskawa Electric Corp.		45,100		1,579,578
Yokogawa Electric Corp.		49,300		874,250
Z Holdings Corp.		477,700		1,688,306
ZOZO Inc.		24,100		520,601


				581,889,801

Kuwait — 0.3%
Agility Public Warehousing Co. KSC		316,215		923,150
Boubyan Bank KSCP		306,425		827,662
Kuwait Finance House KSCP		984,368		2,859,127
Mabanee Co. KPSC		113,325		302,776
Mobile Telecommunications Co. KSCP		485,784		962,417
National Bank of Kuwait SAKP		1,319,141		4,606,739


				10,481,871

Malaysia — 0.4%
Axiata Group Bhd		594,300		383,252
CIMB Group Holdings Bhd		902,700		1,057,571
Dialog Group Bhd		820,900		408,123
DiGi.Com Bhd		731,500		597,368
Genting Bhd		425,600		453,044
Genting Malaysia Bhd		563,200		370,288
Hartalega Holdings Bhd		322,400		198,489
Hong Leong Bank Bhd		149,100		703,527
Hong Leong Financial Group Bhd		100,800		441,710
IHH Healthcare Bhd		555,800		799,170
Inari Amertron Bhd		586,000		378,620
IOI Corp. Bhd		632,700		572,920
Kuala Lumpur Kepong Bhd		85,300		420,127
Malayan Banking Bhd		705,900		1,405,952
Malaysia Airports Holdings Bhd^(b)		211,200		296,723
Maxis Bhd^(a)		612,100		505,220
MISC Bhd		168,200		272,775
Petronas Chemicals Group Bhd		488,100		975,051
Petronas Dagangan Bhd		61,800		311,048
Petronas Gas Bhd		183,500		707,214
PPB Group Bhd		215,300		787,571
Press Metal Aluminium Holdings Bhd		617,600		675,887
Public Bank Bhd		2,650,000		2,764,758
RHB Bank Bhd		393,595		520,543
Sime Darby Bhd		511,200		269,338
Sime Darby Plantation Bhd		422,700		414,213
Telekom Malaysia Bhd		131,500		168,071
Tenaga Nasional Bhd		418,100		775,982
Top Glove Corp. Bhd^(b)		851,300		184,778


				17,819,333


Security	Shares		Value

Mexico — 0.6%
America Movil SAB de CV, Series L, NVS		5,353,500	$	5,094,695
Arca Continental SAB de CV		51,300		355,354
Cemex SAB de CV, NVS^(b)		3,000,408		1,211,320
Coca-Cola Femsa SAB de CV		40,100		242,778
Fibra Uno Administracion SA de CV		636,500		649,754
Fomento Economico Mexicano SAB de CV		360,600		2,247,039
Gruma SAB de CV, Class B		25,395		315,782
Grupo Aeroportuario del Pacifico SAB de CV, Class B		56,900		771,488
Grupo Aeroportuario del Sureste SAB de CV, Class B		42,730		804,902
Grupo Bimbo SAB de CV, Series A		279,200		986,660
Grupo Carso SAB de CV, Series A1		70,900		276,533
Grupo Financiero Banorte SAB de CV, Class O		475,700		2,706,651
Grupo Financiero Inbursa SAB de CV, Class O^(b)		525,300		967,343
Grupo Mexico SAB de CV, Series B		601,029		2,376,343
Grupo Televisa SAB, CPO		465,400		733,755
Industrias Penoles SAB de CV		30,590		307,738
Kimberly-Clark de Mexico SAB de CV, Class A		388,100		571,522
Operadora De Sites Mexicanos SAB de CV		161,000		188,441
Orbia Advance Corp. SAB de CV		168,400		371,404
Promotora y Operadora de Infraestructura SAB de CV		17,130		123,558
Wal-Mart de Mexico SAB de CV		988,100		3,579,078


				24,882,138

Netherlands — 2.9%
ABN AMRO Bank NV, CVA^(c)		76,945		784,677
Adyen NV^(b)(c)		3,751		6,747,193
Aegon NV		322,396		1,416,029
AerCap Holdings NV^(b)		24,416		1,095,302
Akzo Nobel NV		34,037		2,290,707
Argenx SE^(b)		8,738		3,192,004
ASM International NV		8,792		2,700,653
ASML Holding NV		73,438		42,209,069
Davide Campari-Milano NV		93,835		1,041,743
Euronext NV^(c)		15,514		1,264,058
EXOR NV		20,275		1,425,990
Heineken Holding NV		21,565		1,704,039
Heineken NV		46,732		4,607,159
IMCD NV		10,335		1,655,139
ING Groep NV		715,175		6,947,084
Just Eat Takeaway.com NV^(b)(c)		34,363		629,848
Koninklijke Ahold Delhaize NV		187,894		5,174,361
Koninklijke DSM NV		31,948		5,116,442
Koninklijke KPN NV		644,773		2,127,100
Koninklijke Philips NV		159,154		3,293,891
NN Group NV		48,007		2,252,603
OCI NV		19,065		661,873
Prosus NV, Class N		151,236		9,865,879
Randstad NV		21,274		1,075,251
Universal Music Group NV		131,386		2,974,119
Wolters Kluwer NV		48,290		5,244,403


				117,496,616

New Zealand — 0.2%
Auckland International Airport Ltd.^(b)		228,695		1,073,882
Fisher & Paykel Healthcare Corp. Ltd.		95,334		1,274,866
Mercury NZ Ltd.		112,036		428,528
Meridian Energy Ltd.		213,089		668,725
Spark New Zealand Ltd.		411,841		1,324,306
Xero Ltd.^(b)		24,000		1,581,088


				6,351,395


Security	Shares		Value

Norway — 0.5%
Adevinta ASA^(b)		55,356	$	420,947
Aker BP ASA		52,970		1,840,514
DNB Bank ASA		174,282		3,437,846
Equinor ASA		179,461		6,909,945
Gjensidige Forsikring ASA		46,724		977,268
Mowi ASA		77,549		1,789,450
Norsk Hydro ASA		252,678		1,711,952
Orkla ASA		138,902		1,199,040
Salmar ASA		11,394		816,137
Telenor ASA		116,567		1,415,607
Yara International ASA		33,390		1,422,993


				21,941,699

Peru — 0.1%
Cia. de Minas Buenaventura SAA, ADR		32,820		178,541
Credicorp Ltd.		12,713		1,645,062
Southern Copper Corp.		14,677		730,915


				2,554,518

Philippines — 0.2%
Aboitiz Equity Ventures Inc.		288,830		298,887
ACEN Corp.		1,977,470		300,708
Ayala Corp.		36,090		406,459
Ayala Land Inc.		1,600,620		734,581
Bank of the Philippine Islands		303,616		512,472
BDO Unibank Inc.		372,090		807,697
Globe Telecom Inc.		3,265		122,163
GT Capital Holdings Inc.		13,910		114,502
International Container Terminal Services Inc.		223,620		787,806
JG Summit Holdings Inc.		751,120		701,633
Jollibee Foods Corp.		115,970		423,438
Metro Pacific Investments Corp.		1,820,000		121,867
Metropolitan Bank & Trust Co.		636,198		561,172
Monde Nissin Corp.^(b)(c)		1,364,100		352,660
PLDT Inc.		17,210		519,319
SM Investments Corp.		36,055		507,700
SM Prime Holdings Inc.		2,027,000		1,347,092
Universal Robina Corp.		111,110		223,752


				8,843,908

Poland — 0.2%
Allegro.eu SA ^(b)(c)		63,047		342,907
Bank Polska Kasa Opieki SA		31,365		496,762
CD Projekt SA		12,477		245,362
Cyfrowy Polsat SA		79,245		341,567
Dino Polska SA^(b)(c)		7,565		591,505
KGHM Polska Miedz SA		26,758		670,762
LPP SA		188		402,782
mBank SA^(b)		2,587		123,749
Orange Polska SA		74,090		96,143
PGE Polska Grupa Energetyczna SA^(b)		134,195		300,023
Polski Koncern Naftowy ORLEN SA		53,558		874,866
Polskie Gornictwo Naftowe i Gazownictwo SA^(b)		340,999		509,555
Powszechna Kasa Oszczednosci Bank Polski SA^(b)		150,959		854,351
Powszechny Zaklad Ubezpieczen SA		97,952		641,666
Santander Bank Polska SA		8,296		421,253


				6,913,253

Portugal — 0.1%
EDP - Energias de Portugal SA		529,735		2,679,878
Galp Energia SGPS SA		95,083		1,003,656
Jeronimo Martins SGPS SA		47,623		1,102,327


				4,785,861


Security	Shares		Value

Qatar — 0.3%
Barwa Real Estate Co.		298,500	$	292,735
Commercial Bank PSQC (The)		485,260		967,217
Industries Qatar QSC		290,072		1,351,100
Masraf Al Rayan QSC		1,046,959		1,253,862
Mesaieed Petrochemical Holding Co.		791,706		588,937
Ooredoo QPSC		223,574		567,405
Qatar Electricity & Water Co. QSC		128,076		644,007
Qatar Fuel QSC		91,366		442,043
Qatar International Islamic Bank QSC		91,702		295,919
Qatar Islamic Bank SAQ		256,454		1,791,134
Qatar National Bank QPSC		815,639		4,469,426


				12,663,785

Russia — 0.0%
Alrosa PJSC^(d)		504,040		81
Gazprom PJSC^(b)(d)		2,086,234		334
Inter RAO UES PJSC^(d)		5,597,000		897
LUKOIL PJSC^(b)(d)		71,534		11
Magnit PJSC^(d)		10,825		2
Magnit PJSC, GDR^(d)		4		—
MMC Norilsk Nickel PJSC^(d)		11,400		2
Mobile TeleSystems PJSC^(d)		193,438		31
Moscow Exchange MICEX-Rates PJSC^(b)(d)		287,200		46
Novatek PJSC, GDR^(d)		16,226		162
Novolipetsk Steel PJSC^(d)		223,890		36
Ozon Holdings PLC, GDR^(b)(d)		8,288		1
PhosAgro PJSC^(b)(d)		187		2
PhosAgro PJSC, GDR^(d)		28,993		290
Polymetal International PLC^(d)		52,614		8
Polyus PJSC^(d)		5,198		1
Rosneft Oil Co. PJSC^(d)		165,180		27
Sberbank of Russia PJSC^(b)(d)		1,882,550		302
Severstal PAO^(b)(d)		30,098		5
Surgutneftegas PJSC^(d)		1,575,550		253
Tatneft PJSC^(d)		206,881		33
TCS Group Holding PLC, GDR^(b)(d)		20,990		3
United Co. RUSAL International PJSC^(b)(d)		563,790		90
VK Co. Ltd.^(b)(d)		21,979		4
VTB Bank PJSC^(d)		493,800,000		79
X5 Retail Group NV, GDR^(d)(e)		16,185		3
Yandex NV^(b)(d)		54,504		9


				2,712

Saudi Arabia — 1.3%
ACWA Power Co.		13,781		644,400
Advanced Petrochemical Co.		32,146		421,575
Al Rajhi Bank		367,660		8,858,813
Alinma Bank		183,671		1,873,862
Almarai Co. JSC		22,336		311,559
Arab National Bank		115,727		957,119
Bank AlBilad^(b)		117,666		1,558,445
Bank Al-Jazira		92,522		651,914
Banque Saudi Fransi		126,997		1,740,870
Bupa Arabia for Cooperative Insurance Co.		9,260		397,638
Dar Al Arkan Real Estate Development Co.^(b)		80,350		271,374
Dr Sulaiman Al Habib Medical Services Group Co.		14,192		778,676
Elm Co.		6,833		543,991
Emaar Economic City^(b)		44,738		121,272
Etihad Etisalat Co.		70,959		716,481
Jarir Marketing Co.		20,507		893,527
Mouwasat Medical Services Co.		8,065		531,032


Security	Shares		Value

Saudi Arabia (continued)
National Industrialization Co.^(b)		52,344	$	232,207
Rabigh Refining & Petrochemical Co.^(b)		79,475		394,823
Riyad Bank		246,230		2,397,651
SABIC Agri-Nutrients Co.		41,688		1,487,672
Sahara International Petrochemical Co.		84,124		1,073,674
Saudi Arabian Mining Co.^(b)		172,845		2,628,269
Saudi Arabian Oil Co.^(c)		406,425		4,343,634
Saudi Basic Industries Corp.		157,791		4,204,078
Saudi British Bank (The)		145,659		1,639,787
Saudi Electricity Co.		195,999		1,297,091
Saudi Industrial Investment Group		52,301		390,445
Saudi Investment Bank (The)		82,254		461,077
Saudi Kayan Petrochemical Co.^(b)		120,189		488,527
Saudi National Bank (The)		390,102		7,322,893
Saudi Research & Media Group^(b)		6,344		328,131
Saudi Telecom Co.		102,643		2,759,926
Savola Group (The)		35,892		319,282
Yanbu National Petrochemical Co.		43,229		574,782


				53,616,497

Singapore — 0.9%
Ascendas Real Estate Investment Trust		598,777		1,288,843
BOC Aviation Ltd.^(c)		32,300		274,893
CapitaLand Integrated Commercial Trust		977,821		1,544,683
Capitaland Investment Ltd/Singapore		420,000		1,195,038
City Developments Ltd.		62,800		352,825
DBS Group Holdings Ltd.		326,900		7,459,317
Genting Singapore Ltd.		1,157,200		675,849
Grab Holdings Ltd., Class A^(a)(b)		198,225		584,764
Keppel Corp. Ltd.		278,600		1,391,936
Mapletree Commercial Trust		381,300		525,230
Mapletree Logistics Trust		529,097		675,283
Oversea-Chinese Banking Corp. Ltd.		606,675		5,141,387
Sea Ltd., ADR^(a)(b)		64,756		4,942,178
Singapore Airlines Ltd.^(b)		258,950		1,024,445
Singapore Exchange Ltd.		121,400		870,267
Singapore Technologies Engineering Ltd.		283,200		825,743
Singapore Telecommunications Ltd.		1,492,100		2,821,670
United Overseas Bank Ltd.		216,400		4,317,468
UOL Group Ltd.		70,400		380,363
Venture Corp. Ltd.		57,300		730,014
Wilmar International Ltd.		349,600		1,018,702


				38,040,898

South Africa — 1.0%
Absa Group Ltd.		136,311		1,396,846
Anglo American Platinum Ltd.		10,598		812,978
AngloGold Ashanti Ltd.		80,226		1,182,462
Aspen Pharmacare Holdings Ltd.		80,140		702,365
Bid Corp. Ltd.		69,815		1,285,403
Bidvest Group Ltd. (The)		66,772		858,876
Capitec Bank Holdings Ltd.		14,562		1,749,999
Clicks Group Ltd.		52,513		884,095
Discovery Ltd.^(b)		90,010		695,556
Exxaro Resources Ltd.		59,355		721,473
FirstRand Ltd.		926,803		3,666,222
Gold Fields Ltd.		167,267		1,547,036
Growthpoint Properties Ltd.		809,370		659,866
Harmony Gold Mining Co. Ltd.		117,215		374,434
Impala Platinum Holdings Ltd.		151,690		1,681,865
Kumba Iron Ore Ltd.		11,489		342,380


Security	Shares		Value

South Africa (continued)
Mr. Price Group Ltd.		56,655	$	616,862
MTN Group Ltd.		317,366		2,663,584
MultiChoice Group		72,415		518,582
Naspers Ltd., Class N		39,805		5,623,906
Nedbank Group Ltd.		71,530		935,022
NEPI Rockcastle S.A.		89,182		491,948
Northam Platinum Holdings Ltd.^(b)		72,418		768,711
Old Mutual Ltd.		914,207		623,568
Reinet Investments SCA		24,680		429,108
Remgro Ltd.		95,286		784,642
Sanlam Ltd.		281,916		925,858
Sasol Ltd.^(b)		107,534		2,258,942
Shoprite Holdings Ltd.		89,565		1,211,814
Sibanye Stillwater Ltd.		478,793		1,176,173
SPAR Group Ltd. (The)		22,459		181,429
Standard Bank Group Ltd.		227,409		2,190,893
Vodacom Group Ltd.		103,992		864,029
Woolworths Holdings Ltd.		225,047		717,783


				41,544,710

South Korea — 3.2%
Alteogen Inc.^(b)		6,929		349,400
Amorepacific Corp.		5,595		556,811
AMOREPACIFIC Group		7,503		213,509
BGF retail Co. Ltd.^(a)		1,851		257,868
Celltrion Healthcare Co. Ltd.		17,435		973,613
Celltrion Inc.		18,134		2,654,916
Celltrion Pharm Inc.^(b)		3,855		251,740
Cheil Worldwide Inc.		6,115		107,379
CJ CheilJedang Corp.		2,015		607,349
CJ Corp.		3,698		227,237
CJ ENM Co. Ltd.		2,229		174,842
CJ Logistics Corp.^(b)		888		79,696
Coway Co. Ltd.		10,797		532,630
DB Insurance Co. Ltd.		10,790		502,169
Doosan Bobcat Inc.		7,784		186,969
Doosan Enerbility Co. Ltd.		70,956		1,029,426
Ecopro BM Co. Ltd.^(a)		9,780		904,382
E-MART Inc.		3,768		328,381
F&F Co. Ltd./New		3,305		381,488
Green Cross Corp.		1,109		147,866
GS Engineering & Construction Corp.		9,380		215,640
GS Holdings Corp.		8,060		258,359
Hana Financial Group Inc.		51,061		1,463,229
Hankook Tire & Technology Co. Ltd.		17,177		460,440
Hanmi Pharm Co. Ltd.		1,536		366,070
Hanon Systems		28,015		229,951
Hanwha Solutions Corp.^(b)		20,157		681,011
HD Hyundai Co. Ltd.		11,406		500,147
HLB Inc.^(b)		21,199		687,355
HMM Co. Ltd.		50,063		961,228
Hotel Shilla Co. Ltd.		6,877		380,909
HYBE Co. Ltd.^(b)		3,260		442,682
Hyundai Engineering & Construction Co. Ltd.		15,436		501,923
Hyundai Glovis Co. Ltd.		3,753		526,743
Hyundai Mobis Co. Ltd.		11,662		2,052,595
Hyundai Motor Co.		25,141		3,801,650
Hyundai Steel Co.		18,071		475,341
Iljin Materials Co. Ltd.		4,764		270,773
Industrial Bank of Korea		55,268		399,992
Kakao Corp.		57,535		3,322,432


Security	Shares		Value

South Korea (continued)
Kakao Games Corp.^(b)		6,862	$	268,990
KakaoBank Corp.^(b)		19,668		469,102
Kangwon Land Inc.^(b)		22,242		444,590
KB Financial Group Inc.		73,198		2,722,375
Kia Corp.		47,986		3,004,278
Korea Aerospace Industries Ltd.		17,223		757,457
Korea Electric Power Corp.^(b)		46,119		794,303
Korea Investment Holdings Co. Ltd.		7,896		384,208
Korea Shipbuilding & Offshore Engineering Co. Ltd.^(b)		7,960		520,167
Korea Zinc Co. Ltd.		1,608		591,156
Korean Air Lines Co. Ltd.^(b)		29,434		575,116
Krafton Inc.^(b)		4,203		758,501
KT&G Corp.		17,745		1,118,450
Kumho Petrochemical Co. Ltd.		2,949		294,588
L&F Co. Ltd.^(b)		4,603		814,525
LG Chem Ltd.		8,776		4,087,461
LG Corp.		17,600		1,098,517
LG Display Co. Ltd.		45,706		540,351
LG Electronics Inc.		20,020		1,460,305
LG Energy Solution^(a)(b)		3,837		1,251,181
LG H&H Co. Ltd.		1,607		965,854
LG Innotek Co. Ltd.		2,572		721,136
LG Uplus Corp.		22,753		219,250
Lotte Chemical Corp.		2,944		400,553
Lotte Shopping Co. Ltd.		1,736		127,716
Meritz Securities Co. Ltd.		64,729		241,593
Mirae Asset Securities Co. Ltd.		51,832		263,403
NAVER Corp.^(a)		22,911		4,583,145
NCSoft Corp.		3,075		883,414
Netmarble Corp.^(c)		4,617		256,772
NH Investment & Securities Co. Ltd.		3,839		29,430
Orion Corp./Republic of Korea		5,639		436,551
Pan Ocean Co. Ltd.		58,690		255,474
Pearl Abyss Corp.^(b)		6,796		279,981
POSCO Chemical Co. Ltd.		5,310		538,920
POSCO Holdings Inc.		12,843		2,398,531
S-1 Corp.		2,714		133,192
Samsung Biologics Co. Ltd.^(b)(c)		3,224		2,147,399
Samsung C&T Corp.		14,186		1,316,939
Samsung Electro-Mechanics Co. Ltd.		10,264		1,130,265
Samsung Electronics Co. Ltd.		860,715		40,742,066
Samsung Engineering Co. Ltd.^(b)		29,559		447,418
Samsung Fire & Marine Insurance Co. Ltd.		5,745		872,791
Samsung Heavy Industries Co. Ltd.^(b)		120,787		523,637
Samsung Life Insurance Co. Ltd.		13,674		639,216
Samsung SDI Co. Ltd.		10,076		4,428,901
Samsung SDS Co. Ltd.		6,856		719,109
Samsung Securities Co. Ltd.		11,784		317,850
Seegene Inc.		7,748		237,643
Shinhan Financial Group Co. Ltd.		75,805		2,087,610
SK Biopharmaceuticals Co. Ltd.^(b)		7,192		432,389
SK Bioscience Co. Ltd.^(a)(b)		4,492		422,801
SK Chemicals Co. Ltd.		2,238		181,436
SK Hynix Inc.		98,845		7,472,365
SK IE Technology Co. Ltd.^(b)(c)		4,780		302,595
SK Inc.		6,811		1,155,292
SK Innovation Co. Ltd.^(b)		9,638		1,396,288
SK Square Co. Ltd.^(b)		18,085		595,501
SK Telecom Co. Ltd.		6,071		250,583
SKC Co. Ltd.		4,391		461,530


Security	Shares		Value

South Korea (continued)
S-Oil Corp.		9,294	$	662,433
Woori Financial Group Inc.		87,509		803,043
Yuhan Corp.		13,146		585,259


				133,489,036

Spain — 1.5%
Acciona SA		3,492		718,551
ACS Actividades de Construccion y Servicios SA		49,736		1,195,537
Aena SME SA^(b)(c)		12,406		1,569,230
Amadeus IT Group SA^(b)		82,749		4,825,111
Banco Bilbao Vizcaya Argentaria SA		1,208,679		5,477,333
Banco Santander SA		3,135,807		7,845,383
CaixaBank SA		821,678		2,467,280
Cellnex Telecom SA^(c)		93,359		4,175,862
EDP Renovaveis SA		51,602		1,342,131
Enagas SA		22,741		448,877
Endesa SA		59,820		1,096,466
Ferrovial SA		99,843		2,673,608
Grifols SA^(a)		54,138		789,961
Iberdrola SA		1,063,507		11,356,631
Iberdrola SA, NVS		29,542		314,916
Industria de Diseno Textil SA		202,056		4,907,325
Naturgy Energy Group SA^(a)		31,771		931,910
Red Electrica Corp. SA		64,486		1,267,819
Repsol SA		263,587		3,283,834
Siemens Gamesa Renewable Energy SA^(b)		48,079		884,618
Telefonica SA		971,008		4,334,279


				61,906,662

Sweden — 2.1%
Alfa Laval AB		55,369		1,655,633
Assa Abloy AB, Class B		186,907		4,415,869
Atlas Copco AB, Class A		482,489		5,639,987
Atlas Copco AB, Class B		293,725		3,051,124
Boliden AB		48,482		1,620,213
Electrolux AB, Class B		43,223		623,441
Embracer Group AB^(a)(b)		111,957		853,171
Epiroc AB, Class A		127,292		2,250,737
Epiroc AB, Class B		66,808		1,061,150
EQT AB		55,331		1,501,866
Essity AB, Class B		112,449		2,862,398
Evolution AB^(c)		32,545		3,157,867
Fastighets AB Balder, Class B^(b)		121,680		777,301
Getinge AB, Class B		44,368		1,001,205
H & M Hennes & Mauritz AB, Class B		133,664		1,710,169
Hexagon AB, Class B		357,988		4,215,145
Holmen AB, Class B		14,938		613,831
Husqvarna AB, Class B		94,503		753,164
Industrivarden AB, Class A		24,643		642,986
Industrivarden AB, Class C		26,210		676,224
Indutrade AB		49,982		1,174,755
Investment AB Latour, Class B		29,344		730,118
Investor AB, Class A		58,596		1,204,750
Investor AB, Class B		369,356		6,892,818
Kinnevik AB, Class B^(b)		45,383		817,433
L E Lundbergforetagen AB, Class B		12,793		607,149
Lifco AB, Class B		45,561		886,890
Nibe Industrier AB, Class B		265,830		2,677,999
Sagax AB, Class B		35,858		924,136
Sandvik AB		202,840		3,737,566
Securitas AB, Class B		51,896		524,789


Security	Shares		Value

Sweden (continued)
Sinch AB^(a)(b)(c)		104,009	$	263,703
Skandinaviska Enskilda Banken AB, Class A		294,210		3,187,302
Skanska AB, Class B		61,903		1,056,062
SKF AB, Class B		58,821		989,924
Svenska Cellulosa AB SCA, Class B		113,978		1,666,310
Svenska Handelsbanken AB, Class A		260,093		2,338,733
Swedbank AB, Class A		161,419		2,235,678
Swedish Match AB		293,123		3,068,564
Swedish Orphan Biovitrum AB^(b)		29,676		651,714
Tele2 AB, Class B		99,596		1,137,748
Telefonaktiebolaget LM Ericsson, Class B		533,365		4,056,904
Telia Co. AB		455,052		1,681,120
Volvo AB, Class B		285,338		5,122,965
Volvo Car AB, Class B^(a)(b)		101,801		757,987


				87,476,598

Switzerland — 6.7%
ABB Ltd., Registered		298,264		9,067,106
Adecco Group AG, Registered		28,850		1,016,299
Alcon Inc.		93,959		7,394,957
Bachem Holding AG, Class A		6,250		421,459
Baloise Holding AG, Registered		7,963		1,268,737
Barry Callebaut AG, Registered		585		1,296,162
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS		191		2,112,204
Chocoladefabriken Lindt & Spruengli AG, Registered		19		2,191,120
Cie. Financiere Richemont SA, Class A, Registered		95,406		11,503,817
Clariant AG, Registered		37,067		694,470
Coca-Cola HBC AG, Class DI		36,352		894,681
Credit Suisse Group AG, Registered		489,066		2,844,685
EMS-Chemie Holding AG, Registered		1,198		951,313
Geberit AG, Registered		6,755		3,557,701
Givaudan SA, Registered		1,661		5,806,120
Holcim AG		94,936		4,451,420
Julius Baer Group Ltd.		40,135		2,075,383
Kuehne + Nagel International AG, Registered		10,001		2,693,483
Logitech International SA, Registered		31,923		1,796,057
Lonza Group AG, Registered		13,599		8,264,810
Nestle SA, Registered		504,738		61,844,170
Novartis AG, Registered		394,533		33,902,075
Partners Group Holding AG		4,202		4,587,516
Roche Holding AG, Bearer		5,918		2,412,559
Roche Holding AG, NVS		125,315		41,605,146
Schindler Holding AG, Participation Certificates, NVS		7,604		1,486,269
Schindler Holding AG, Registered		3,869		734,672
SGS SA, Registered		1,053		2,569,812
Siemens Energy AG^(b)		71,901		1,194,814
Sika AG, Registered		26,110		6,451,453
Sonova Holding AG, Registered		10,121		3,645,400
STMicroelectronics NV		124,499		4,711,481
Straumann Holding AG		20,139		2,723,810
Swatch Group AG (The), Bearer		5,589		1,487,886
Swatch Group AG (The), Registered		8,721		435,515
Swiss Life Holding AG, Registered		6,003		3,180,007
Swiss Prime Site AG, Registered		14,747		1,342,915
Swiss Re AG		54,363		4,079,225
Swisscom AG, Registered		4,693		2,537,211
Temenos AG, Registered		12,072		958,185
UBS Group AG, Registered		637,665		10,419,652
VAT Group AG^(c)		5,049		1,470,124
Vifor Pharma AG ^(b)		8,881		1,551,621


Security	Shares		Value

Switzerland (continued)
Zurich Insurance Group AG		27,087	$	11,824,243


				277,457,745

Taiwan — 4.2%
Accton Technology Corp.		109,000		909,700
Acer Inc.		598,792		454,320
Advantech Co. Ltd.		65,793		756,901
Airtac International Group		26,928		738,143
ASE Technology Holding Co. Ltd.		585,762		1,706,935
Asia Cement Corp.		362,440		502,924
ASMedia Technology Inc.		8,000		262,325
Asustek Computer Inc.		116,000		1,094,301
AUO Corp.		1,530,000		687,030
Catcher Technology Co. Ltd.		120,000		685,371
Cathay Financial Holding Co. Ltd.		1,414,281		2,157,565
Chailease Holding Co. Ltd.		242,827		1,726,928
Chang Hwa Commercial Bank Ltd.		827,808		492,907
Cheng Shin Rubber Industry Co. Ltd.		371,000		440,283
China Development Financial Holding Corp.		2,947,358		1,275,884
China Steel Corp.		2,128,288		1,981,577
Chunghwa Telecom Co. Ltd.		685,000		2,779,469
Compal Electronics Inc.		734,000		560,540
CTBC Financial Holding Co. Ltd.		3,016,036		2,317,129
Delta Electronics Inc.		348,000		3,026,597
E Ink Holdings Inc.		169,000		1,111,815
E.Sun Financial Holding Co. Ltd.		2,296,113		2,116,529
Eclat Textile Co. Ltd.		35,000		478,539
eMemory Technology Inc.		14,000		556,535
Evergreen Marine Corp. Taiwan Ltd.		470,000		1,510,288
Far Eastern New Century Corp.		535,000		544,331
Far EasTone Telecommunications Co. Ltd.		283,000		713,520
Feng TAY Enterprise Co. Ltd.		82,600		462,735
First Financial Holding Co. Ltd.		1,905,817		1,721,492
Formosa Chemicals & Fibre Corp.		633,340		1,484,749
Formosa Petrochemical Corp.		229,000		647,589
Formosa Plastics Corp.		678,960		2,094,137
Fubon Financial Holding Co. Ltd.		1,269,330		2,384,325
Giant Manufacturing Co. Ltd.		61,000		499,089
Globalwafers Co. Ltd.		43,000		651,378
Hon Hai Precision Industry Co. Ltd.		2,280,377		8,334,198
Hotai Motor Co. Ltd.		50,000		1,012,647
Hua Nan Financial Holdings Co. Ltd.		1,567,243		1,212,444
Innolux Corp.		1,737,688		601,816
Inventec Corp.		534,000		424,125
Largan Precision Co. Ltd.		17,000		1,192,426
Lite-On Technology Corp.		385,000		844,764
MediaTek Inc.		271,000		6,243,861
Mega Financial Holding Co. Ltd.		1,971,195		2,335,103
Micro-Star International Co. Ltd.		136,000		538,410
momo.com Inc.		13,200		361,827
Nan Ya Plastics Corp.		919,840		2,072,964
Nan Ya Printed Circuit Board Corp.		50,000		405,088
Nanya Technology Corp.		248,000		435,696
Nien Made Enterprise Co. Ltd.		45,000		432,266
Novatek Microelectronics Corp.		102,000		908,697
Parade Technologies Ltd.		16,000		602,534
Pegatron Corp.		348,000		724,461
Pou Chen Corp.		391,000		351,074
Powerchip Semiconductor Manufacturing Corp.		511,000		605,714
President Chain Store Corp.		76,000		718,610
Quanta Computer Inc.		506,000		1,436,502


Security	Shares		Value

Taiwan (continued)
Realtek Semiconductor Corp.		81,000	$	931,479
Ruentex Development Co. Ltd.		298,000		547,516
Shanghai Commercial & Savings Bank Ltd. (The)		555,000		931,685
Shin Kong Financial Holding Co. Ltd.		2,368,983		677,172
Silergy Corp.		58,000		1,085,433
SinoPac Financial Holdings Co. Ltd.		2,005,600		1,135,933
Synnex Technology International Corp.		281,750		522,694
Taishin Financial Holding Co. Ltd.		1,928,723		1,015,283
Taiwan Cement Corp.		953,553		1,237,396
Taiwan Cooperative Financial Holding Co. Ltd.		1,877,167		1,721,055
Taiwan High Speed Rail Corp.		378,000		369,420
Taiwan Mobile Co. Ltd.		234,000		794,076
Taiwan Semiconductor Manufacturing Co. Ltd.		4,438,000		76,109,770
Unimicron Technology Corp.		224,000		1,194,972
Uni-President Enterprises Corp.		789,972		1,859,700
United Microelectronics Corp.		2,177,000		2,928,629
Vanguard International Semiconductor Corp.		179,000		431,128
Voltronic Power Technology Corp.		16,000		785,875
Walsin Lihwa Corp.		482,000		548,340
Wan Hai Lines Ltd.		134,435		483,055
Win Semiconductors Corp.		77,000		409,031
Winbond Electronics Corp.		680,000		529,395
Wiwynn Corp.		20,000		494,730
WPG Holdings Ltd.		368,000		618,301
Yageo Corp.		74,000		854,408
Yang Ming Marine Transport Corp.		316,000		952,988
Yuanta Financial Holding Co. Ltd.		1,736,829		1,164,193
Zhen Ding Technology Holding Ltd.		141,000		534,059


				174,196,823

Thailand — 0.5%
Advanced Info Service PCL, NVDR^(a)		239,600		1,316,992
Airports of Thailand PCL, NVDR^(b)		860,400		1,657,811
Asset World Corp. PCL, NVDR		1,736,000		238,704
B Grimm Power PCL, NVDR^(a)		276,400		287,193
Bangkok Commercial Asset Management PCL, NVDR^(a)		541,900		250,870
Bangkok Dusit Medical Services PCL, NVDR		1,802,600		1,318,315
Bangkok Expressway & Metro PCL, NVDR		2,720,700		646,330
Berli Jucker PCL, NVDR		355,100		315,050
BTS Group Holdings PCL, NVDR		3,075,000		724,444
Central Pattana PCL, NVDR		519,300		904,541
Charoen Pokphand Foods PCL, NVDR^(a)		1,115,700		766,837
CP ALL PCL, NVDR		1,118,200		1,870,901
Delta Electronics Thailand PCL, NVDR		62,600		812,484
Global Power Synergy PCL, NVDR^(a)		182,300		338,164
Indorama Ventures PCL, NVDR		468,988		561,365
Intouch Holdings PCL, NVDR		260,700		500,818
Krungthai Card PCL, NVDR^(a)		242,100		381,033
Land & Houses PCL, NVDR		1,592,700		369,462
Minor International PCL, NVDR^(b)		730,520		671,907
Osotspa PCL, NVDR		340,300		290,602
PTT Exploration & Production PCL, NVDR		264,399		1,188,750
PTT Global Chemical PCL, NVDR		436,701		530,344
PTT Public Company Ltd., NVDR		2,052,800		1,956,213
SCB X PCL, NVS		235,200		648,541
Siam Cement PCL (The), NVDR		138,000		1,404,196
Srisawad Corp. PCL, NVDR^(a)		230,000		316,388
Thai Oil PCL, NVDR		462,800		654,164


Security	Shares		Value

Thailand (continued)
True Corp. PCL, NVDR		3,126,534	$	405,608


				21,328,027

Turkey — 0.1%
Akbank TAS		445,571		214,622
Aselsan Elektronik Sanayi Ve Ticaret AS		121,957		151,276
BIM Birlesik Magazalar AS		85,634		440,203
Eregli Demir ve Celik Fabrikalari TAS		297,963		461,551
Ford Otomotiv Sanayi AS		14,621		248,730
KOC Holding AS		178,018		367,961
Turkcell Iletisim Hizmetleri AS		216,428		205,639
Turkiye Is Bankasi AS, Class C		470,939		138,035
Turkiye Petrol Rafinerileri AS^(b)		24,861		372,400
Turkiye Sise ve Cam Fabrikalari AS		378,112		460,492


				3,060,909

United Arab Emirates — 0.4%
Abu Dhabi Commercial Bank PJSC		587,583		1,460,473
Abu Dhabi Islamic Bank PJSC		250,949		621,908
Abu Dhabi National Oil Co. for Distribution PJSC		513,268		598,516
Aldar Properties PJSC		830,179		1,109,049
Emaar Properties PJSC		845,686		1,269,115
Emirates NBD Bank PJSC		401,915		1,512,648
Emirates Telecommunications Group Co. PJSC		627,769		4,768,385
First Abu Dhabi Bank PJSC		778,833		4,121,970


				15,462,064

United Kingdom — 9.4%
3i Group PLC		173,576		2,696,980
abrdn PLC		416,796		845,022
Admiral Group PLC		32,707		764,414
Anglo American PLC		228,056		8,243,050
Antofagasta PLC		68,197		970,353
Ashtead Group PLC		81,546		4,590,201
Associated British Foods PLC		65,476		1,337,371
AstraZeneca PLC		279,484		36,763,663
Auto Trader Group PLC^(c)		179,820		1,386,325
AVEVA Group PLC		21,596		624,783
Aviva PLC		524,419		2,539,669
BAE Systems PLC		582,364		5,473,487
Barclays PLC		3,075,088		5,890,524
Barratt Developments PLC		192,124		1,178,046
Berkeley Group Holdings PLC		20,567		1,065,853
BP PLC		3,520,627		17,230,863
British American Tobacco PLC		393,878		15,433,571
British Land Co. PLC (The)		176,599		1,061,843
BT Group PLC		1,296,770		2,560,242
Bunzl PLC		62,977		2,363,568
Burberry Group PLC		76,058		1,672,025
CNH Industrial NV		195,104		2,513,458
Coca-Cola Europacific Partners PLC		38,419		2,079,236
Compass Group PLC		321,368		7,531,720
Croda International PLC		25,404		2,323,196
DCC PLC		18,595		1,214,055
Diageo PLC		415,670		19,691,060
Entain PLC^(b)		107,621		1,583,649
Experian PLC		167,826		5,875,966
Ferguson PLC		39,656		4,988,673
GSK PLC		730,752		15,353,248
Haleon PLC^(b)		913,440		3,245,945
Halma PLC		68,889		1,940,112
Hargreaves Lansdown PLC		63,114		653,404


Security	Shares		Value


United Kingdom (continued)
Hikma Pharmaceuticals PLC		27,631	$	584,036
HSBC Holdings PLC		3,664,377		22,953,500
Imperial Brands PLC		168,607		3,701,991
Informa PLC^(b)		264,986		1,927,149
InterContinental Hotels Group PLC		32,947		1,952,936
Intertek Group PLC		29,353		1,568,777
J Sainsbury PLC		332,034		895,685
JD Sports Fashion PLC		466,413		740,833
Johnson Matthey PLC		34,349		898,037
Kingfisher PLC		390,380		1,235,112
Land Securities Group PLC		114,427		1,022,523
Legal & General Group PLC		1,023,496		3,268,552
Lloyds Banking Group PLC		12,792,395		7,082,613
London Stock Exchange Group PLC		59,139		5,771,533
M&G PLC		476,604		1,242,364
Melrose Industries PLC		805,346		1,585,291
Mondi PLC		89,041		1,689,750
National Grid PLC		646,356		8,900,059
NatWest Group PLC		957,429		2,907,957
Next PLC		24,514		2,040,834
NMC Health PLC, NVS^(d)		14,180		—
Ocado Group PLC^(a)(b)		95,880		985,671
Pearson PLC		131,963		1,221,351
Persimmon PLC		60,234		1,389,370
Phoenix Group Holdings PLC		84,781		667,957
Prudential PLC		488,404		6,024,163
Reckitt Benckiser Group PLC		128,701		10,439,547
RELX PLC		349,395		10,345,390
Rentokil Initial PLC		348,845		2,303,409
Rolls-Royce Holdings PLC^(b)		1,537,239		1,680,108
Sage Group PLC (The)		188,731		1,626,505
Schroders PLC		22,474		815,170
Segro PLC		213,647		2,858,165
Severn Trent PLC		38,530		1,385,224
Shell PLC		1,376,798		36,727,894
Smith & Nephew PLC		159,989		2,051,244
Smiths Group PLC		63,228		1,193,251
Spirax-Sarco Engineering PLC		12,496		1,823,278
SSE PLC		191,741		4,141,297
St. James’s Place PLC		91,844		1,379,595
Standard Chartered PLC		477,001		3,287,819
Taylor Wimpey PLC		643,164		1,001,071
Tesco PLC		1,371,515		4,398,635
Unilever PLC		460,356		22,420,666
United Utilities Group PLC		131,443		1,746,422
Vodafone Group PLC		4,880,043		7,191,510
Whitbread PLC		36,578		1,164,271
WPP PLC		208,487		2,250,072


				388,174,162


Total Common Stocks — 98.5% (Cost: $4,229,633,087)				4,065,193,744


Preferred Stocks

Brazil — 0.4%
Banco Bradesco SA, Preference Shares, NVS		1,032,436		3,477,969
Braskem SA, Class A, Preference Shares, NVS		34,792		246,713
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS		120,655		1,103,690


Security	Shares		Value


Brazil (continued)
Cia. Energetica de Minas Gerais, Preference Shares, NVS		320,650	$	696,568
Gerdau SA, Preference Shares, NVS		216,109		1,021,632
Itau Unibanco Holding SA, Preference Shares, NVS		862,182		3,935,900
Itausa SA, Preference Shares, NVS		815,021		1,359,392
Petroleo Brasileiro SA, Preference Shares, NVS		830,776		5,483,272


				17,325,136

Chile — 0.1%
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares		27,268		2,708,311


Colombia — 0.0%
Bancolombia SA, Preference Shares, NVS		109,361		806,623


Germany — 0.3%
Bayerische Motoren Werke AG, Preference Shares, NVS		10,064		764,110
Henkel AG & Co. KGaA, Preference Shares, NVS		32,056		2,047,843
Porsche Automobil Holding SE, Preference Shares, NVS		28,578		2,068,525
Sartorius AG, Preference Shares, NVS		4,937		2,208,316
Volkswagen AG, Preference Shares, NVS		33,652		4,758,051


				11,846,845

Russia — 0.0%
Surgutneftegas PJSC, Preference Shares, NVS^(d)		1,151,800		185


South Korea — 0.2%
Hyundai Motor Co.
Preference Shares, NVS		4,535		329,363
Series 2, Preference Shares, NVS		6,468		470,465
LG Chem Ltd., Preference Shares, NVS		1,241		278,598
LG H&H Co. Ltd., Preference Shares, NVS		229		66,846
Samsung Electronics Co. Ltd., Preference Shares, NVS		149,237		6,558,911


				7,704,183


Total Preferred Stocks — 1.0% (Cost: $35,714,667)				40,391,283


Total Long-Term Investments — 99.5% (Cost: $4,265,347,754)				4,105,585,027


Short-Term Securities

Money Market Funds — 1.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(f)(g)(h)		37,487,026		37,483,277
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(f)(g)		4,160,000		4,160,000


Total Short-Term Securities — 1.0% (Cost: $41,635,645)				41,643,277


Total Investments in Securities — 100.5% (Cost: $4,306,983,399)				4,147,228,304

Liabilities in Excess of Other Assets — (0.5)%				(21,372,505	)


Net Assets — 100.0%			$	4,125,855,799

^(a)	All or a portion of this security is on loan.

^(b)	Non-income producing security.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Australia — 8.7%
Ampol Ltd.		788,834	$	18,688,661
APA Group		3,897,139		31,954,011
Aristocrat Leisure Ltd.		1,989,508		49,634,346
ASX Ltd.		639,118		39,724,226
Aurizon Holdings Ltd.		6,101,671		17,269,532
Australia & New Zealand Banking Group Ltd.		9,255,423		149,579,304
Australia & New Zealand Banking Group Ltd., New		617,028		9,872,593
BHP Group Ltd.		16,711,772		457,323,589
BlueScope Steel Ltd.		1,613,861		18,957,023
Brambles Ltd.		4,736,383		38,121,733
Cochlear Ltd.		216,543		32,638,851
Coles Group Ltd.		4,415,155		58,149,078
Commonwealth Bank of Australia		5,633,150		400,051,673
Computershare Ltd.		1,794,735		31,707,561
CSL Ltd.		1,590,212		323,794,164
Dexus		3,540,947		23,795,179
Domino’s Pizza Enterprises Ltd.		202,156		10,336,206
Endeavour Group Ltd./Australia		4,422,163		24,637,790
Evolution Mining Ltd.		6,073,735		11,219,878
Fortescue Metals Group Ltd.		5,592,480		71,967,152
Glencore PLC		32,644,692		185,020,287
Goodman Group		5,552,242		81,257,398
GPT Group (The)		6,306,413		20,288,988
IDP Education Ltd.^(a)		694,781		13,978,906
Insurance Australia Group Ltd.		8,115,538		25,536,056
Lendlease Corp. Ltd.		2,267,673		16,428,468
Lottery Corp. Ltd. (The)^(b)		7,327,627		23,243,958
Macquarie Group Ltd.		1,203,175		153,986,389
Medibank Pvt Ltd.		9,111,518		21,908,937
Mineral Resources Ltd.		559,555		21,321,332
Mirvac Group		12,979,948		19,664,440
National Australia Bank Ltd.		10,675,374		230,550,803
Newcrest Mining Ltd.		2,937,518		39,586,746
Northern Star Resources Ltd.		3,841,914		21,113,732
Orica Ltd.		1,352,856		16,034,359
Origin Energy Ltd.		5,798,213		24,343,007
Qantas Airways Ltd.^(b)		3,042,501		9,804,001
QBE Insurance Group Ltd.		4,884,405		39,493,948
Ramsay Health Care Ltd.		604,857		29,880,999
REA Group Ltd.		175,374		15,472,252
Reece Ltd.^(a)		744,342		8,039,133
Rio Tinto Ltd.		1,225,522		84,909,737
Rio Tinto PLC		3,708,575		223,884,733
Santos Ltd.		10,632,070		55,269,538
Scentre Group		17,143,959		35,132,126
SEEK Ltd.		1,106,908		17,928,739
Sonic Healthcare Ltd.		1,504,789		36,237,597
South32 Ltd.		15,344,038		41,821,927
Stockland		7,858,983		21,295,381
Suncorp Group Ltd.		4,170,369		32,934,606
Telstra Corp. Ltd.		13,575,104		37,100,884
Transurban Group		10,136,840		103,615,614
Treasury Wine Estates Ltd.		2,376,449		20,485,073
Vicinity Centres		12,832,059		18,775,804
Washington H Soul Pattinson & Co. Ltd.		712,819		12,905,343
Wesfarmers Ltd.		3,744,045		122,675,551
Westpac Banking Corp.		11,557,944		175,023,579
WiseTech Global Ltd.		485,233		17,184,339


Security	Shares		Value

Australia (continued)
Woodside Energy Group Ltd.		6,220,790	$	140,468,416
Woolworths Group Ltd.		4,000,980		105,262,111


				4,139,287,787

Austria — 0.2%
Erste Group Bank AG		1,143,083		28,980,211
OMV AG		484,847		20,649,597
Verbund AG		224,176		24,651,624
voestalpine AG		384,077		8,648,118


				82,929,550

Belgium — 0.8%
Ageas SA/NV		534,577		23,331,770
Anheuser-Busch InBev SA/NV		2,867,398		153,600,184
D’ieteren Group		82,924		13,609,992
Elia Group SA/NV		109,647		16,645,700
Groupe Bruxelles Lambert SA		334,586		29,615,904
KBC Group NV		831,284		43,540,131
Proximus SADP		507,604		7,033,865
Sofina SA		51,137		11,975,734
Solvay SA		246,099		21,615,595
UCB SA		416,225		32,523,300
Umicore SA		691,405		25,044,324
Warehouses De Pauw CVA		489,694		16,646,754


				395,183,253

Denmark — 2.8%
AP Moller - Maersk A/S, Class A		10,339		27,697,922
AP Moller - Maersk A/S, Class B, NVS		17,637		48,154,885
Carlsberg A/S, Class B		331,447		42,869,981
Chr Hansen Holding A/S		351,386		22,999,201
Coloplast A/S, Class B		392,183		45,900,673
Danske Bank A/S		2,278,282		31,860,174
Demant A/S^(b)		316,217		12,046,515
DSV A/S		633,845		106,803,454
Genmab A/S^(b)		217,055		77,232,489
GN Store Nord A/S		432,843		15,073,369
Novo Nordisk A/S, Class B		5,559,019		647,479,807
Novozymes A/S, Class B		678,169		43,321,614
Orsted A/S^(c)		624,494		72,701,487
Pandora A/S		312,756		23,235,177
Rockwool A/S, Class B		29,332		7,268,441
Tryg A/S		1,197,416		27,302,693
Vestas Wind Systems A/S		3,329,960		87,523,752


				1,339,471,634

Finland — 1.2%
Elisa OYJ		470,054		25,996,373
Fortum OYJ		1,462,210		16,412,270
Kesko OYJ, Class B		899,195		22,239,938
Kone OYJ, Class B		1,123,199		51,331,802
Neste OYJ		1,397,278		71,849,827
Nokia OYJ		17,866,250		93,057,791
Nordea Bank Abp		10,923,808		107,708,367
Orion OYJ, Class B		350,055		16,710,747
Sampo OYJ, Class A		1,646,934		71,152,048
Stora Enso OYJ, Class R		1,814,449		28,061,702
UPM-Kymmene OYJ		1,763,674		55,890,404
Wartsila OYJ Abp		1,558,445		13,693,326


				574,104,595

France — 11.1%
Accor SA^(b)		564,138		14,638,763
Aeroports de Paris^(b)		98,692		13,636,453


Security	Shares		Value

France (continued)
Air Liquide SA		1,726,050	$	237,301,442
Airbus SE		1,946,268		209,849,895
Alstom SA^(a)		1,044,630		24,826,355
Amundi SA^(c)		202,819		11,012,018
ArcelorMittal SA		2,012,337		49,652,269
Arkema SA		195,650		18,535,010
AXA SA		6,395,278		147,363,252
BioMerieux		137,815		14,916,729
BNP Paribas SA		3,667,305		173,270,219
Bollore SE		2,938,416		14,835,648
Bouygues SA		762,346		23,045,515
Bureau Veritas SA		978,210		26,979,626
Capgemini SE		540,025		103,002,655
Carrefour SA		2,049,393		34,925,844
Cie Generale des Etablissements Michelin SCA		2,237,019		62,602,001
Cie. de Saint-Gobain		1,641,512		76,543,407
Covivio		155,686		9,846,138
Credit Agricole SA		4,111,755		37,885,008
Danone SA		2,156,672		118,917,072
Dassault Aviation SA		83,243		11,905,632
Dassault Systemes SE		2,202,046		94,449,430
Edenred		823,160		42,253,214
Eiffage SA		277,060		25,999,028
Electricite de France SA^(a)		1,850,459		22,472,435
Engie SA		6,022,624		74,513,939
EssilorLuxottica SA		949,269		148,828,612
Eurazeo SE		143,845		10,274,490
Eurofins Scientific SE		443,049		34,539,376
Gecina SA		151,255		15,508,265
Getlink SE		1,448,556		28,991,869
Hermes International		104,552		143,439,470
Ipsen SA		125,475		12,692,692
Kering SA		246,982		141,394,963
Klepierre SA		709,427		15,763,500
La Francaise des Jeux SAEM^(c)		346,792		12,386,724
Legrand SA		881,888		72,198,952
L’Oreal SA		795,378		300,698,476
LVMH Moet Hennessy Louis Vuitton SE		916,469		636,353,910
Orange SA		6,587,262		67,311,485
Pernod Ricard SA		691,607		135,862,282
Publicis Groupe SA		757,952		40,334,674
Remy Cointreau SA		76,131		15,040,227
Renault SA^(b)		636,924		18,830,260
Safran SA		1,128,332		124,021,209
Sanofi		3,754,147		373,062,803
Sartorius Stedim Biotech		91,042		36,420,384
Schneider Electric SE		1,784,572		246,813,140
SEB SA		81,982		6,902,099
Societe Generale SA		2,625,344		58,824,483
Sodexo SA		291,268		23,666,569
Teleperformance		193,905		64,842,011
Thales SA		352,257		43,806,543
TotalEnergies SE		8,184,599		418,047,659
Ubisoft Entertainment SA^(b)		309,070		13,158,472
Unibail-Rodamco-Westfield^(b)		387,862		22,024,641
Valeo		678,809		14,580,834
Veolia Environnement SA		2,194,440		54,884,790
Vinci SA		1,761,500		168,855,173
Vivendi SE		2,372,224		22,520,310
Wendel SE		88,948		8,186,741


Security	Shares		Value

France (continued)
Worldline SA/France^(b)(c)		784,842	$	34,641,454


				5,280,888,539

Germany — 7.1%
adidas AG		570,746		98,734,192
Allianz SE, Registered		1,348,404		244,878,372
Aroundtown SA^(a)		3,312,332		10,622,763
BASF SE		3,032,087		135,125,485
Bayer AG, Registered		3,243,184		189,175,690
Bayerische Motoren Werke AG		1,093,134		89,323,614
Bechtle AG		269,629		12,471,382
Beiersdorf AG		332,840		34,324,034
Brenntag SE		510,169		35,836,867
Carl Zeiss Meditec AG, Bearer		132,504		19,337,610
Commerzbank AG^(b)		3,504,532		24,009,998
Continental AG		363,712		25,911,261
Covestro AG^(c)		636,048		21,450,960
Daimler Truck Holding AG^(b)		1,493,732		40,816,161
Delivery Hero SE^(b)(c)		539,819		26,044,298
Deutsche Bank AG, Registered		6,827,604		59,720,723
Deutsche Boerse AG		627,229		109,492,418
Deutsche Lufthansa AG, Registered^(a)(b)		1,967,873		12,113,936
Deutsche Post AG, Registered		3,272,311		130,695,652
Deutsche Telekom AG, Registered		10,699,863		203,286,428
E.ON SE		7,415,449		66,658,211
Evonik Industries AG		690,369		14,725,354
Fresenius Medical Care AG & Co. KGaA		677,214		25,106,675
Fresenius SE & Co. KGaA		1,382,299		35,371,588
GEA Group AG		505,080		18,853,417
Hannover Rueck SE		199,205		28,256,636
HeidelbergCement AG		476,769		24,285,182
HelloFresh SE^(b)		547,151		15,123,104
Henkel AG & Co. KGaA		343,694		21,671,554
Infineon Technologies AG		4,311,115		118,230,024
KION Group AG		239,472		10,922,943
Knorr-Bremse AG		238,814		14,227,475
LEG Immobilien SE		241,051		21,898,338
Mercedes-Benz Group AG		2,648,815		156,211,167
Merck KGaA		426,748		81,278,688
MTU Aero Engines AG		176,531		34,125,802
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered		462,495		104,850,388
Nemetschek SE		190,123		12,728,081
Puma SE		347,579		23,469,841
QIAGEN NV^(b)		762,045		38,191,236
Rational AG		16,844		11,741,030
Rheinmetall AG		143,404		26,297,005
RWE AG		2,121,047		87,255,515
SAP SE		3,447,214		321,530,983
Scout24 SE^(c)		264,032		15,094,308
Siemens AG, Registered		2,525,423		281,695,686
Siemens Healthineers AG^(c)		930,366		47,675,328
Symrise AG		438,035		51,112,378
Telefonica Deutschland Holding AG		3,445,818		9,161,153
Uniper SE		303,766		2,029,581
United Internet AG, Registered		319,341		8,411,815
Volkswagen AG		97,737		19,358,533
Vonovia SE		2,308,201		76,908,778
Zalando SE^(a)(b)(c)		733,248		20,643,218


				3,368,472,859


Security	Shares		Value

Hong Kong — 3.0%
AIA Group Ltd.		39,935,800	$	401,220,746
BOC Hong Kong Holdings Ltd.		12,216,000		44,189,115
Budweiser Brewing Co. APAC Ltd.^(c)		5,720,000		15,838,308
Chow Tai Fook Jewellery Group Ltd.		6,584,400		13,022,347
CK Asset Holdings Ltd.		6,611,684		46,808,919
CK Hutchison Holdings Ltd.		8,866,684		58,815,169
CK Infrastructure Holdings Ltd.		2,073,792		13,004,280
CLP Holdings Ltd.		5,421,000		45,967,747
ESR Group Ltd.^(b)(c)		6,635,200		17,254,347
Futu Holdings Ltd., ADR^(b)		198,254		8,247,366
Galaxy Entertainment Group Ltd.		7,196,000		42,809,527
Hang Lung Properties Ltd.		6,740,000		12,297,091
Hang Seng Bank Ltd.		2,524,600		40,723,351
Henderson Land Development Co. Ltd.		4,781,764		16,646,016
HK Electric Investments & HK Electric Investments Ltd., Class SS		8,727,000		7,893,311
HKT Trust & HKT Ltd., Class SS		12,545,440		17,577,606
Hong Kong & China Gas Co. Ltd.^(a)		36,952,513		39,026,738
Hong Kong Exchanges & Clearing Ltd.		3,971,500		182,253,859
Hongkong Land Holdings Ltd.^(a)		3,778,500		19,640,870
Jardine Matheson Holdings Ltd.		707,200		37,351,344
Link REIT		6,971,758		58,383,796
MTR Corp. Ltd.		5,097,500		26,993,834
New World Development Co. Ltd.		4,971,033		16,622,622
Power Assets Holdings Ltd.		4,567,000		29,903,550
Sands China Ltd.^(b)		8,036,800		18,850,635
Sino Land Co. Ltd.		11,300,000		16,789,958
SITC International Holdings Co. Ltd.		4,415,000		15,032,746
Sun Hung Kai Properties Ltd.		4,787,000		57,143,044
Swire Pacific Ltd., Class A		1,639,000		9,334,302
Swire Properties Ltd.		3,851,855		9,177,929
Techtronic Industries Co. Ltd.		4,539,033		50,367,929
WH Group Ltd.^(c)		27,455,500		20,793,063
Wharf Real Estate Investment Co. Ltd.		5,519,912		24,570,272
Xinyi Glass Holdings Ltd.		5,954,000		11,743,271


				1,446,295,008

Ireland — 0.7%
CRH PLC		2,529,019		97,048,931
Flutter Entertainment PLC, Class DI^(b)		551,310		55,351,198
James Hardie Industries PLC		1,470,559		36,317,964
Kerry Group PLC, Class A		526,033		55,523,369
Kingspan Group PLC		507,560		32,853,382
Smurfit Kappa Group PLC		810,145		29,365,648


				306,460,492

Israel — 0.8%
Azrieli Group Ltd.		140,257		11,242,572
Bank Hapoalim BM		4,065,466		37,890,159
Bank Leumi Le-Israel BM		5,096,418		49,555,575
Check Point Software Technologies Ltd.^(b)		340,796		42,463,182
CyberArk Software Ltd.^(a)(b)		132,328		17,219,843
Elbit Systems Ltd.		88,303		20,374,449
ICL Group Ltd.		2,350,918		21,422,544
Isracard Ltd.		1		3
Israel Discount Bank Ltd., Class A		4,072,456		23,155,409
Kornit Digital Ltd.^(b)		162,362		4,417,870
Mizrahi Tefahot Bank Ltd.		512,795		19,063,687
Nice Ltd.^(b)		208,377		44,487,928
Teva Pharmaceutical Industries Ltd., ADR^(a)(b)		3,660,591		34,336,344
Tower Semiconductor Ltd.^(b)		363,462		17,325,483


Security	Shares		Value

Israel (continued)
Wix.com Ltd.^(b)		189,584	$	11,248,019
ZIM Integrated Shipping Services Ltd.		276,106		13,755,601


				367,958,668

Italy — 2.0%
Amplifon SpA		409,921		13,555,321
Assicurazioni Generali SpA		3,656,399		54,661,866
Atlantia SpA		1,635,650		37,800,912
DiaSorin SpA		84,012		11,681,233
Enel SpA		26,819,078		135,202,059
Eni SpA		8,331,968		100,155,079
Ferrari NV		416,177		88,380,277
FinecoBank Banca Fineco SpA		2,021,994		25,129,268
Infrastrutture Wireless Italiane SpA^(c)		1,106,401		11,626,475
Intesa Sanpaolo SpA		54,522,368		96,821,273
Mediobanca Banca di Credito Finanziario SpA		2,004,903		17,195,471
Moncler SpA		678,223		33,998,551
Nexi SpA^(b)(c)		1,725,351		15,669,707
Poste Italiane SpA^(c)		1,719,976		14,448,337
Prysmian SpA		842,455		26,787,453
Recordati Industria Chimica e Farmaceutica SpA		344,238		15,266,712
Snam SpA		6,658,189		33,407,678
Stellantis NV		7,239,461		103,960,485
Telecom Italia SpA/Milano^(a)(b)		32,803,722		7,277,814
Tenaris SA		1,554,613		21,755,306
Terna - Rete Elettrica Nazionale		4,644,982		35,561,069
UniCredit SpA		6,984,527		69,074,779


				969,417,125

Japan — 22.3%
Advantest Corp.		625,900		37,226,642
Aeon Co. Ltd.		2,158,800		43,536,333
AGC Inc.^(a)		636,500		23,202,478
Aisin Corp.		485,100		14,406,782
Ajinomoto Co. Inc.		1,540,900		40,550,289
ANA Holdings Inc.^(b)		528,700		9,870,128
Asahi Group Holdings Ltd.		1,505,300		52,333,772
Asahi Intecc Co. Ltd.		721,300		13,344,067
Asahi Kasei Corp.		4,143,300		33,239,226
Astellas Pharma Inc.		6,146,150		96,257,219
Azbil Corp.		382,400		11,511,441
Bandai Namco Holdings Inc.		659,300		51,506,100
Bridgestone Corp.		1,885,600		73,549,439
Brother Industries Ltd.		776,900		14,552,449
Canon Inc.		3,302,900		78,139,410
Capcom Co. Ltd.		579,700		16,114,228
Central Japan Railway Co.		475,600		55,691,273
Chiba Bank Ltd. (The)		1,754,200		9,730,293
Chubu Electric Power Co. Inc.		2,121,100		22,626,645
Chugai Pharmaceutical Co. Ltd.		2,214,900		62,222,709
Concordia Financial Group Ltd.		3,624,100		12,329,180
CyberAgent Inc.		1,417,400		14,143,383
Dai Nippon Printing Co. Ltd.		736,000		16,241,553
Daifuku Co. Ltd.		335,300		21,380,916
Dai-ichi Life Holdings Inc.		3,320,252		57,755,377
Daiichi Sankyo Co. Ltd.		5,784,785		153,381,856
Daikin Industries Ltd.^(a)		822,500		144,248,593
Daito Trust Construction Co. Ltd.		204,200		19,358,682
Daiwa House Industry Co. Ltd.		1,978,400		48,882,444
Daiwa House REIT Investment Corp.		7,256		17,463,706
Daiwa Securities Group Inc.		4,497,800		20,762,855


Security	Shares		Value

Japan (continued)
Denso Corp.		1,431,000	$	78,268,633
Dentsu Group Inc.		712,100		24,874,759
Disco Corp.		95,100		23,235,754
East Japan Railway Co.		997,400		52,071,225
Eisai Co. Ltd.		832,400		38,119,618
ENEOS Holdings Inc.		10,129,650		39,185,560
FANUC Corp.		633,200		109,201,965
Fast Retailing Co. Ltd.		192,600		116,636,690
Fuji Electric Co. Ltd.		420,400		18,987,737
FUJIFILM Holdings Corp.		1,189,800		67,963,782
Fujitsu Ltd.		649,200		87,033,275
GLP J-Reit		14,044		18,470,022
GMO Payment Gateway Inc.		139,400		11,584,546
Hakuhodo DY Holdings Inc.		775,420		7,975,697
Hamamatsu Photonics KK		461,900		20,989,139
Hankyu Hanshin Holdings Inc.		757,200		21,963,893
Hikari Tsushin Inc.		67,500		7,437,704
Hirose Electric Co. Ltd.		100,548		14,445,273
Hitachi Construction Machinery Co. Ltd.		356,800		7,871,673
Hitachi Ltd.		3,196,300		161,822,420
Hitachi Metals Ltd.^(b)		706,000		10,856,058
Honda Motor Co. Ltd.		5,381,900		137,922,907
Hoshizaki Corp.		360,200		10,745,491
Hoya Corp.		1,220,500		122,283,890
Hulic Co. Ltd.		1,272,800		10,207,970
Ibiden Co. Ltd.		371,000		10,948,781
Idemitsu Kosan Co. Ltd.		690,583		17,958,474
Iida Group Holdings Co. Ltd.		489,180		8,009,057
Inpex Corp.		3,432,943		39,347,612
Isuzu Motors Ltd.		1,928,900		21,157,334
Ito En Ltd.		178,300		8,401,728
ITOCHU Corp.		3,924,000		114,226,309
Itochu Techno-Solutions Corp.		318,800		8,543,742
Japan Airlines Co. Ltd.^(b)		476,700		8,257,974
Japan Exchange Group Inc.		1,659,700		26,390,443
Japan Metropolitan Fund Invest		23,168		18,879,390
Japan Post Bank Co. Ltd.^(a)		1,367,600		10,940,334
Japan Post Holdings Co. Ltd.		8,090,900		58,253,113
Japan Post Insurance Co. Ltd.		661,600		10,696,652
Japan Real Estate Investment Corp.		4,126		19,924,295
Japan Tobacco Inc.		3,962,700		71,152,701
JFE Holdings Inc.		1,618,275		18,245,804
JSR Corp.		595,600		16,496,896
Kajima Corp.		1,392,300		15,894,081
Kakaku.com Inc.		439,300		8,604,410
Kansai Electric Power Co. Inc. (The)		2,317,900		23,500,557
Kao Corp.		1,568,800		68,234,004
KDDI Corp.		5,324,600		170,719,020
Keio Corp.		338,600		12,965,026
Keisei Electric Railway Co. Ltd.		454,800		12,469,175
Keyence Corp.		642,292		254,567,359
Kikkoman Corp.		480,600		28,497,038
Kintetsu Group Holdings Co. Ltd.		564,900		18,668,216
Kirin Holdings Co. Ltd.		2,714,400		44,647,401
Kobayashi Pharmaceutical Co. Ltd.		176,700		11,771,735
Kobe Bussan Co. Ltd.		495,400		14,121,452
Koei Tecmo Holdings Co. Ltd.		194,300		6,783,079
Koito Manufacturing Co. Ltd.		344,100		11,311,149
Komatsu Ltd.		3,053,000		70,580,388
Konami Group Corp.		307,100		18,151,277


Security	Shares		Value

Japan (continued)
Kose Corp.		109,700	$	9,792,029
Kubota Corp.		3,365,200		55,873,557
Kurita Water Industries Ltd.		344,300		13,964,654
Kyocera Corp.		1,058,600		58,846,374
Kyowa Kirin Co. Ltd.		893,300		21,059,749
Lasertec Corp.		249,200		35,677,978
Lixil Corp.		985,180		20,388,532
M3 Inc.		1,456,000		50,726,909
Makita Corp.		741,600		18,123,557
Marubeni Corp.		5,162,000		48,018,298
Mazda Motor Corp.		1,872,000		15,780,155
McDonald’s Holdings Co. Japan Ltd.		288,000		10,810,205
MEIJI Holdings Co. Ltd.		379,004		19,787,801
MINEBEA MITSUMI Inc.		1,201,100		21,605,535
MISUMI Group Inc.		940,900		23,407,993
Mitsubishi Chemical Group Corp.		4,215,100		23,703,727
Mitsubishi Corp.		4,169,000		123,899,665
Mitsubishi Electric Corp.		6,381,500		67,351,796
Mitsubishi Estate Co. Ltd.		3,900,800		57,933,149
Mitsubishi HC Capital Inc.		2,185,800		10,592,170
Mitsubishi Heavy Industries Ltd.		1,058,000		39,286,143
Mitsubishi UFJ Financial Group Inc.		39,461,980		222,348,200
Mitsui & Co. Ltd.		4,608,500		101,673,938
Mitsui Chemicals Inc.		606,400		12,773,351
Mitsui Fudosan Co. Ltd.		3,010,400		67,280,673
Mitsui OSK Lines Ltd.		1,136,400		31,161,114
Mizuho Financial Group Inc.		7,963,416		94,974,673
MonotaRO Co. Ltd.		825,200		14,734,221
MS&AD Insurance Group Holdings Inc.		1,469,088		47,644,488
Murata Manufacturing Co. Ltd.		1,896,400		110,770,042
NEC Corp.		811,000		29,937,603
Nexon Co. Ltd.		1,632,400		37,058,912
NGK Insulators Ltd.		783,200		11,455,259
Nidec Corp.		1,476,300		102,594,060
Nihon M&A Center Holdings Inc.		997,200		13,344,566
Nintendo Co. Ltd.^(a)		364,400		162,949,859
Nippon Building Fund Inc.		5,048		26,778,362
Nippon Express Holdings Inc.		255,000		15,237,627
Nippon Paint Holdings Co. Ltd.		2,731,400		20,879,296
Nippon Prologis REIT Inc.		7,033		18,289,358
Nippon Sanso Holdings Corp.		570,300		9,616,785
Nippon Shinyaku Co. Ltd.		162,800		10,075,949
Nippon Steel Corp.		2,666,435		39,677,164
Nippon Telegraph & Telephone Corp.		3,945,800		112,713,034
Nippon Yusen KK		533,400		41,899,270
Nissan Chemical Corp.		425,800		21,772,485
Nissan Motor Co. Ltd.		7,668,900		29,163,760
Nisshin Seifun Group Inc.		653,897		8,049,108
Nissin Foods Holdings Co. Ltd.		205,900		14,912,529
Nitori Holdings Co. Ltd.		264,800		28,015,462
Nitto Denko Corp.		470,000		30,265,774
Nomura Holdings Inc.		9,607,600		36,657,907
Nomura Real Estate Holdings Inc.		390,600		9,475,707
Nomura Real Estate Master Fund Inc.		14,068		17,624,252
Nomura Research Institute Ltd.		1,109,471		33,333,280
NTT Data Corp.		2,084,855		31,554,280
Obayashi Corp.		2,137,800		15,722,314
Obic Co. Ltd.		230,200		36,801,989
Odakyu Electric Railway Co. Ltd.		978,900		14,039,789
Oji Holdings Corp.		2,671,600		11,138,313


Security	Shares		Value

Japan (continued)
Olympus Corp.		4,075,200	$	87,218,063
Omron Corp.		613,100		34,289,453
Ono Pharmaceutical Co. Ltd.		1,221,600		34,350,046
Open House Group Co. Ltd.		271,300		11,835,519
Oracle Corp. Japan		127,800		7,970,656
Oriental Land Co. Ltd./Japan		660,400		100,267,674
ORIX Corp.		3,947,500		70,351,632
Osaka Gas Co. Ltd.		1,234,600		22,195,758
Otsuka Corp.		375,300		11,703,987
Otsuka Holdings Co. Ltd.		1,288,400		46,025,449
Pan Pacific International Holdings Corp.		1,253,000		19,509,799
Panasonic Holdings Corp.		7,295,268		60,230,720
Persol Holdings Co. Ltd.		584,500		12,100,189
Rakuten Group Inc.		2,864,600		14,201,361
Recruit Holdings Co. Ltd.		4,758,900		177,854,519
Renesas Electronics Corp.^(b)		3,849,900		36,669,711
Resona Holdings Inc.		7,140,500		27,749,746
Ricoh Co. Ltd.		1,888,800		15,191,732
Rohm Co. Ltd.		289,700		21,498,813
SBI Holdings Inc/Japan		812,080		16,475,014
SCSK Corp.		517,700		9,116,824
Secom Co. Ltd.		693,000		46,285,516
Seiko Epson Corp.		921,000		13,835,882
Sekisui Chemical Co. Ltd.		1,241,800		17,471,456
Sekisui House Ltd.		2,034,500		36,033,834
Seven & i Holdings Co. Ltd.		2,487,380		101,386,125
SG Holdings Co. Ltd.		948,700		18,105,496
Sharp Corp./Japan^(a)		804,600		6,476,225
Shimadzu Corp.		783,000		27,858,300
Shimano Inc.		243,500		40,675,752
Shimizu Corp.		1,826,800		10,355,474
Shin-Etsu Chemical Co. Ltd.		1,237,900		158,567,849
Shionogi & Co. Ltd.		874,000		44,828,723
Shiseido Co. Ltd.		1,319,500		54,275,279
Shizuoka Bank Ltd. (The)		1,488,400		9,006,928
SMC Corp.		189,100		93,195,338
SoftBank Corp.		9,482,000		109,633,269
SoftBank Group Corp.		3,981,500		167,249,972
Sompo Holdings Inc.		1,032,550		46,083,952
Sony Group Corp.		4,163,100		353,147,067
Square Enix Holdings Co. Ltd.		282,400		13,103,301
Subaru Corp.		2,031,400		35,348,198
SUMCO Corp.		1,152,800		16,130,808
Sumitomo Chemical Co. Ltd.		4,905,000		19,276,306
Sumitomo Corp.		3,722,600		52,339,577
Sumitomo Electric Industries Ltd.		2,361,800		26,331,206
Sumitomo Metal Mining Co. Ltd.		817,100		25,692,732
Sumitomo Mitsui Financial Group Inc.		4,310,200		135,219,983
Sumitomo Mitsui Trust Holdings Inc.		1,115,160		36,632,165
Sumitomo Realty & Development Co. Ltd.		1,022,700		28,239,878
Suntory Beverage & Food Ltd.		457,800		18,063,616
Suzuki Motor Corp.		1,215,900		39,856,387
Sysmex Corp.		553,900		38,779,550
T&D Holdings Inc.		1,745,200		19,752,241
Taisei Corp.		628,300		20,047,044
Takeda Pharmaceutical Co. Ltd.		4,962,210		145,592,193
TDK Corp.		1,283,100		40,410,782
Terumo Corp.^(a)		2,132,200		72,800,965
TIS Inc.		748,100		21,211,719
Tobu Railway Co. Ltd.		621,700		14,762,193


Security	Shares		Value

Japan (continued)
Toho Co. Ltd./Tokyo		368,400	$	14,629,438
Tokio Marine Holdings Inc.		2,072,300		121,312,275
Tokyo Electric Power Co. Holdings Inc.^(b)		5,026,100		19,779,534
Tokyo Electron Ltd.		493,000		169,687,368
Tokyo Gas Co. Ltd.		1,312,100		25,770,834
Tokyu Corp.		1,757,200		21,546,042
Toppan Inc.		863,500		14,692,842
Toray Industries Inc.		4,583,400		25,104,828
Toshiba Corp.		1,285,400		52,145,495
Tosoh Corp.		856,200		11,160,736
TOTO Ltd.		469,600		15,995,447
Toyota Industries Corp.		484,400		29,494,850
Toyota Motor Corp.		35,008,420		568,222,499
Toyota Tsusho Corp.		699,400		23,870,129
Trend Micro Inc/Japan		440,200		25,581,873
Unicharm Corp.		1,331,500		48,229,909
USS Co. Ltd.		721,880		14,165,102
Welcia Holdings Co. Ltd.		313,600		7,004,225
West Japan Railway Co.		725,900		26,662,826
Yakult Honsha Co. Ltd.		424,100		25,827,472
Yamaha Corp.		462,500		19,727,498
Yamaha Motor Co. Ltd.		980,000		18,930,787
Yamato Holdings Co. Ltd.		959,400		16,788,540
Yaskawa Electric Corp.		793,400		27,787,956
Yokogawa Electric Corp.		751,700		13,330,099
Z Holdings Corp.		8,786,222		31,052,604
ZOZO Inc.		413,100		8,923,656


				10,634,350,694

Malta — 0.0%
BGP Holdings PLC, NVS^(b)(d)		33,026,812		338


Netherlands — 4.5%
ABN AMRO Bank NV, CVA^(c)		1,392,589		14,201,474
Adyen NV^(b)(c)		71,537		128,678,740
Aegon NV		5,919,361		25,999,044
AerCap Holdings NV^(b)		443,401		19,890,969
Akzo Nobel NV		599,530		40,348,658
Argenx SE^(b)		159,742		58,353,977
ASM International NV		154,673		47,511,159
ASML Holding NV		1,341,856		771,242,306
Davide Campari-Milano NV		1,720,885		19,105,025
Euronext NV^(c)		283,392		23,090,373
EXOR NV		357,036		25,111,207
Heineken Holding NV		331,886		26,225,219
Heineken NV		855,815		84,372,067
IMCD NV		188,358		30,165,322
ING Groep NV		12,888,124		125,192,969
JDE Peet’s NV		332,455		9,641,992
Just Eat Takeaway.com NV^(b)(c)		601,578		11,026,477
Koninklijke Ahold Delhaize NV		3,452,153		95,067,890
Koninklijke DSM NV		577,041		92,412,570
Koninklijke KPN NV		10,902,900		35,968,563
Koninklijke Philips NV		2,914,589		60,321,059
NN Group NV		944,059		44,297,508
OCI NV		351,059		12,187,588
Prosus NV, Class N		2,738,210		178,627,098
Randstad NV		393,657		19,896,598
Universal Music Group NV		2,397,609		54,273,471
Wolters Kluwer NV		866,673		94,122,648


				2,147,331,971


Security	Shares		Value

New Zealand — 0.2%
Auckland International Airport Ltd.^(b)		4,121,087	$	19,351,364
Fisher & Paykel Healthcare Corp. Ltd.		1,899,986		25,407,798
Mercury NZ Ltd.		2,283,144		8,732,834
Meridian Energy Ltd.		4,238,831		13,302,487
Spark New Zealand Ltd.		6,154,466		19,790,147
Xero Ltd.^(b)		444,920		29,310,746


				115,895,376

Norway — 0.8%
Adevinta ASA^(b)		969,025		7,368,811
Aker BP ASA		1,041,563		36,190,511
DNB Bank ASA		3,070,845		60,574,776
Equinor ASA		3,226,289		124,224,654
Gjensidige Forsikring ASA		658,435		13,771,663
Kongsberg Gruppen ASA		294,375		10,847,345
Mowi ASA		1,361,936		31,426,792
Norsk Hydro ASA		4,427,476		29,997,170
Orkla ASA		2,472,663		21,344,698
Salmar ASA		193,909		13,889,452
Telenor ASA		2,311,212		28,067,700
Yara International ASA		550,457		23,459,017


				401,162,589

Portugal — 0.2%
EDP - Energias de Portugal SA		9,164,070		46,360,139
Galp Energia SGPS SA		1,650,239		17,419,228
Jeronimo Martins SGPS SA		932,284		21,579,527


				85,358,894

Singapore — 1.5%
Ascendas Real Estate Investment Trust		11,105,700		23,904,557
CapitaLand Integrated Commercial Trust		17,616,525		27,829,174
Capitaland Investment Ltd/Singapore		8,602,200		24,476,080
City Developments Ltd.		1,350,400		7,586,863
DBS Group Holdings Ltd.		5,979,600		136,444,585
Genting Singapore Ltd.		20,137,200		11,760,889
Grab Holdings Ltd., Class A^(a)(b)		3,623,843		10,690,337
Keppel Corp. Ltd.		4,816,000		24,061,617
Mapletree Commercial Trust		7,470,800		10,290,819
Mapletree Logistics Trust		10,925,928		13,944,684
Oversea-Chinese Banking Corp. Ltd.		11,178,098		94,730,998
Sea Ltd., ADR^(a)(b)		1,183,638		90,335,252
Singapore Airlines Ltd.^(b)		4,438,900		17,560,952
Singapore Exchange Ltd.		2,654,800		19,031,176
Singapore Technologies Engineering Ltd.		5,185,800		15,120,545
Singapore Telecommunications Ltd.		27,259,085		51,548,915
United Overseas Bank Ltd.		3,891,400		77,638,619
UOL Group Ltd.		1,540,900		8,325,295
Venture Corp. Ltd.		921,800		11,743,933
Wilmar International Ltd.		6,359,300		18,530,404


				695,555,694

Spain — 2.4%
Acciona SA		81,269		16,722,761
ACS Actividades de Construccion y Servicios SA		776,069		18,654,879
Aena SME SA^(b)(c)		246,913		31,231,937
Amadeus IT Group SA^(b)		1,485,487		86,619,046
Banco Bilbao Vizcaya Argentaria SA		22,012,067		99,751,407
Banco Santander SA		57,245,029		143,219,641
CaixaBank SA		14,635,421		43,946,276
Cellnex Telecom SA^(c)		1,792,025		80,155,635
EDP Renovaveis SA		948,698		24,674,952
Enagas SA		820,886		16,203,186


Security	Shares		Value

Spain (continued)
Endesa SA		1,045,679	$	19,166,690
Ferrovial SA		1,592,246		42,637,358
Grifols SA^(a)		982,025		14,329,338
Iberdrola SA		19,126,549		204,242,345
Iberdrola SA, NVS		531,293		5,663,571
Industria de Diseno Textil SA		3,596,920		87,358,233
Naturgy Energy Group SA		478,821		14,044,819
Red Electrica Corp. SA		1,403,443		27,592,227
Repsol SA		4,784,648		59,608,362
Siemens Gamesa Renewable Energy SA^(b)		784,855		14,440,749
Telefonica SA		17,723,918		79,114,087


				1,129,377,499

Sweden — 3.4%
Alfa Laval AB		966,646		28,904,465
Assa Abloy AB, Class B		3,309,829		78,198,089
Atlas Copco AB, Class A		8,868,342		103,665,237
Atlas Copco AB, Class B		5,150,019		53,496,791
Boliden AB		903,945		30,208,818
Electrolux AB, Class B^(a)		742,536		10,710,206
Embracer Group AB^(a)(b)		2,103,035		16,026,228
Epiroc AB, Class A		2,175,756		38,471,031
Epiroc AB, Class B		1,283,858		20,392,262
EQT AB		978,472		26,558,953
Essity AB, Class B		2,008,758		51,133,087
Evolution AB^(c)		602,985		58,508,105
Fastighets AB Balder, Class B^(b)		2,092,716		13,368,425
Getinge AB, Class B		753,041		16,993,061
H & M Hennes & Mauritz AB, Class B		2,412,866		30,871,506
Hexagon AB, Class B		6,428,315		75,690,467
Holmen AB, Class B		308,848		12,691,160
Husqvarna AB, Class B		1,392,315		11,096,377
Industrivarden AB, Class A		434,827		11,345,521
Industrivarden AB, Class C		506,975		13,080,081
Indutrade AB		899,228		21,135,053
Investment AB Latour, Class B		487,415		12,127,531
Investor AB, Class A		1,647,502		33,873,090
Investor AB, Class B		6,014,586		112,242,516
Kinnevik AB, Class B^(b)		797,212		14,359,280
L E Lundbergforetagen AB, Class B		250,205		11,874,600
Lifco AB, Class B		773,529		15,057,512
Nibe Industrier AB, Class B		5,002,964		50,400,384
Sagax AB, Class B		626,611		16,149,078
Sandvik AB		3,515,957		64,785,654
Securitas AB, Class B		1,030,861		10,424,394
Sinch AB^(a)(b)(c)		1,838,999		4,662,566
Skandinaviska Enskilda Banken AB, Class A		5,378,277		58,265,170
Skanska AB, Class B		1,120,015		19,107,402
SKF AB, Class B		1,262,063		21,239,810
Svenska Cellulosa AB SCA, Class B		2,001,783		29,265,222
Svenska Handelsbanken AB, Class A		4,815,083		43,296,797
Swedbank AB, Class A		2,989,587		41,406,242
Swedish Match AB		5,211,564		54,557,363
Swedish Orphan Biovitrum AB^(b)		556,091		12,212,305
Tele2 AB, Class B		1,877,621		21,449,255
Telefonaktiebolaget LM Ericsson, Class B		9,638,165		73,310,229
Telia Co. AB		8,776,894		32,424,890
Volvo AB, Class A		662,910		12,352,351
Volvo AB, Class B		4,982,745		89,460,316


Security	Shares		Value

Sweden (continued)
Volvo Car AB, Class B^(a)(b)		1,985,625	$	14,784,520


				1,591,633,400

Switzerland — 10.7%
ABB Ltd., Registered		5,422,292		164,835,506
Adecco Group AG, Registered		531,777		18,732,911
Alcon Inc.		1,649,613		129,831,276
Bachem Holding AG, Class A		102,445		6,908,222
Baloise Holding AG, Registered		150,782		24,023,955
Barry Callebaut AG, Registered		11,791		26,124,873
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS		3,526		38,992,841
Chocoladefabriken Lindt & Spruengli AG, Registered		358		41,285,308
Cie. Financiere Richemont SA, Class A, Registered		1,723,230		207,782,765
Clariant AG, Registered		710,321		13,308,248
Coca-Cola HBC AG, Class DI		662,549		16,306,396
Credit Suisse Group AG, Registered		8,761,668		50,962,817
EMS-Chemie Holding AG, Registered		23,100		18,343,356
Geberit AG, Registered		118,516		62,419,610
Givaudan SA, Registered		30,482		106,551,558
Holcim AG		1,830,342		85,822,255
Julius Baer Group Ltd.		730,396		37,768,810
Kuehne + Nagel International AG, Registered		179,309		48,291,738
Logitech International SA, Registered		571,893		32,175,937
Lonza Group AG, Registered		245,837		149,407,760
Nestle SA, Registered		9,292,895		1,138,633,075
Novartis AG, Registered		7,232,872		621,518,012
Partners Group Holding AG		74,950		81,826,358
Roche Holding AG, Bearer		88,071		35,903,432
Roche Holding AG, NVS		2,319,304		770,019,403
Schindler Holding AG, Participation Certificates, NVS		134,597		26,308,170
Schindler Holding AG, Registered		77,291		14,676,536
SGS SA, Registered		21,018		51,293,746
Siemens Energy AG^(b)		1,442,648		23,973,184
Sika AG, Registered		480,229		118,658,560
Sonova Holding AG, Registered		177,401		63,896,605
STMicroelectronics NV		2,253,649		85,286,020
Straumann Holding AG		367,918		49,761,090
Swatch Group AG (The), Bearer		95,262		25,360,346
Swatch Group AG (The), Registered		173,896		8,684,138
Swiss Life Holding AG, Registered		104,219		55,208,583
Swiss Prime Site AG, Registered		253,004		23,039,451
Swiss Re AG		995,933		74,731,623
Swisscom AG, Registered		85,454		46,199,622
Temenos AG, Registered		209,155		16,601,158
UBS Group AG, Registered		11,611,338		189,733,008
VAT Group AG^(c)		89,346		26,014,997
Vifor Pharma AG ^(b)		149,794		26,170,870
Zurich Insurance Group AG		496,700		216,823,620


				5,070,197,749

United Kingdom — 14.9%
3i Group PLC		3,212,848		49,920,421
abrdn PLC		7,186,863		14,570,807
Admiral Group PLC		591,712		13,829,244
Anglo American PLC		4,196,273		151,673,653
Antofagasta PLC		1,312,284		18,672,070
Ashtead Group PLC		1,469,145		82,697,744
Associated British Foods PLC		1,177,785		24,056,689
AstraZeneca PLC		5,114,955		672,827,356
Auto Trader Group PLC^(c)		3,126,386		24,102,914


Security	Shares		Value

United Kingdom (continued)
AVEVA Group PLC		397,066	$	11,487,318
Aviva PLC		9,333,925		45,202,551
BAE Systems PLC		10,387,104		97,625,670
Barclays PLC		55,316,798		105,962,791
Barratt Developments PLC		3,385,132		20,756,598
Berkeley Group Holdings PLC		368,981		19,121,871
BP PLC		64,283,503		314,620,155
British American Tobacco PLC		7,187,030		281,613,939
British Land Co. PLC (The)		2,898,750		17,429,421
BT Group PLC		22,963,997		45,338,340
Bunzl PLC		1,113,827		41,802,651
Burberry Group PLC		1,320,982		29,039,885
CNH Industrial NV		3,376,996		43,504,683
Coca-Cola Europacific Partners PLC		677,974		36,691,953
Compass Group PLC		5,890,193		138,045,119
Croda International PLC		460,580		42,120,039
DCC PLC		324,681		21,198,197
Diageo PLC		7,643,740		362,098,154
Entain PLC^(b)		1,931,368		28,420,180
Experian PLC		3,044,139		106,582,166
Ferguson PLC		722,103		90,839,612
GSK PLC		13,425,583		282,074,221
Haleon PLC^(b)		16,781,979		59,635,433
Halma PLC		1,253,851		35,312,052
Hargreaves Lansdown PLC		1,182,153		12,238,551
Hikma Pharmaceuticals PLC		571,599		12,081,887
HSBC Holdings PLC		66,856,769		418,787,919
Imperial Brands PLC		2,981,924		65,472,106
Informa PLC^(b)		4,938,653		35,917,062
InterContinental Hotels Group PLC		607,640		36,017,912
Intertek Group PLC		533,328		28,503,821
J Sainsbury PLC		5,760,261		15,538,709
JD Sports Fashion PLC		8,490,739		13,486,365
Johnson Matthey PLC		616,853		16,127,304
Kingfisher PLC		6,782,653		21,459,438
Land Securities Group PLC		2,319,039		20,723,000
Legal & General Group PLC		19,709,666		62,943,152
Lloyds Banking Group PLC		234,359,766		129,755,180
London Stock Exchange Group PLC		1,086,274		106,012,388
M&G PLC		8,604,973		22,430,599
Melrose Industries PLC		14,447,767		28,439,837
Mondi PLC		1,603,972		30,438,921
National Grid PLC		12,032,600		165,684,011
NatWest Group PLC		18,575,888		56,419,730
Next PLC		436,806		36,364,882
NMC Health PLC, NVS^(d)		473,933		6
Ocado Group PLC^(b)		1,910,043		19,635,726
Pearson PLC		2,243,664		20,765,676
Persimmon PLC		1,050,922		24,240,788
Phoenix Group Holdings PLC		2,468,002		19,444,449
Prudential PLC		9,066,476		111,829,414
Reckitt Benckiser Group PLC		2,359,799		191,414,468
RELX PLC		6,383,091		188,999,754
Rentokil Initial PLC		6,121,247		40,418,339
Rolls-Royce Holdings PLC^(b)		27,547,582		30,107,822
Sage Group PLC (The)		3,351,211		28,881,114
Schroders PLC		412,203		14,951,303
Segro PLC		3,966,553		53,064,465
Severn Trent PLC		826,839		29,726,370
Shell PLC		25,117,174		670,033,582


Security	Shares		Value


United Kingdom (continued)
Smith & Nephew PLC		2,902,618	$	37,214,912
Smiths Group PLC		1,280,664		24,168,937
Spirax-Sarco Engineering PLC		243,176		35,481,550
SSE PLC		3,514,588		75,909,452
St. James’s Place PLC		1,796,450		26,984,597
Standard Chartered PLC		8,611,556		59,356,775
Taylor Wimpey PLC		12,012,463		18,697,140
Tesco PLC		25,200,935		80,822,815
Unilever PLC		8,454,278		411,747,748
United Utilities Group PLC		2,253,092		29,935,785
Vodafone Group PLC		88,933,067		131,056,851
Whitbread PLC		665,019		21,167,436
WPP PLC		3,771,409		40,702,492


			7,100,476,437


Total Common Stocks — 99.3% (Cost: $45,575,769,835)				47,241,810,151


Preferred Stocks

Germany — 0.4%
Bayerische Motoren Werke AG, Preference Shares, NVS		189,923		14,419,922
Henkel AG & Co. KGaA, Preference Shares, NVS		588,093		37,569,320
Porsche Automobil Holding SE, Preference Shares, NVS		505,768		36,608,353
Sartorius AG, Preference Shares, NVS		80,394		35,960,174
Volkswagen AG, Preference Shares, NVS		612,761		86,638,181


				211,195,950


Total Preferred Stocks — 0.4% (Cost: $251,892,847)				211,195,950


Total Long-Term Investments — 99.7% (Cost: $45,827,662,682)				47,453,006,101


Security	Shares		Value


Short-Term Securities

Money Market Funds — 0.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		182,144,004	$	182,125,789
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		41,190,000		41,190,000


Total Short-Term Securities — 0.5% (Cost: $223,280,764)				223,315,789


Total Investments in Securities — 100.2% (Cost: $46,050,943,446)				47,676,321,890

Liabilities in Excess of Other Assets — (0.2)%				(82,110,317	)


Net Assets — 100.0%			$	47,594,211,573

^(a)	All or a portion of this security is on loan.

^(b)	Non-income producing security.

^(c)	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.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Australia — 10.3%
29Metals Ltd.^(a)		1,100,145	$	1,168,997
5E Advanced Materials Inc.^(a)		1,040,652		1,700,072
Abacus Property Group		1,569,538		3,242,237
Accent Group Ltd.		1,467,608		1,353,556
Adbri Ltd.		1,501,126		2,676,977
AET&D Holdings No. 1 Pty Ltd.^(b)		169,200		1
AGL Energy Ltd.		2,803,938		16,514,335
Alkane Resources Ltd.^(a)		1,922,986		1,066,294
Allkem Ltd.^(a)		2,432,229		19,619,312
ALS Ltd.		1,955,961		16,065,157
Altium Ltd.		500,769		11,058,390
Alumina Ltd.		10,471,872		11,374,892
AMP Ltd.^(a)		13,097,717		10,030,358
Ansell Ltd.		541,609		9,943,754
APM Human Services International Ltd.^(a)		1,151,844		2,677,758
Appen Ltd.		470,877		1,930,682
ARB Corp. Ltd.		328,566		7,715,387
Arena REIT		1,470,949		4,993,368
Atlas Arteria Ltd.		4,057,776		22,079,740
AUB Group Ltd.		371,503		5,095,478
Aussie Broadband Ltd.^(a)		755,420		1,930,337
Austal Ltd.		1,409,956		2,648,693
Australian Agricultural Co. Ltd.^(a)		1,387,360		1,799,292
Australian Clinical Labs Ltd.		298,284		1,107,377
Australian Ethical Investment Ltd.		349,755		1,605,735
Australian Strategic Materials Ltd.^(a)		382,872		964,537
AVZ Minerals Ltd.^(a)(b)(c)		10,717,468		5,330,469
Bank of Queensland Ltd.		2,742,522		14,524,933
Bapcor Ltd.		1,429,586		6,702,838
Beach Energy Ltd.		6,658,874		8,581,422
Bega Cheese Ltd.		1,249,241		3,056,333
Bellevue Gold Ltd.^(a)		4,348,937		2,586,587
Bendigo & Adelaide Bank Ltd.		2,359,882		17,124,795
Betmakers Technology Group Ltd.^(a)(c)		2,651,306		941,621
Blackmores Ltd.		68,606		3,746,342
Boral Ltd.		1,601,568		3,263,775
Boss Energy Ltd. ^(a)		1,363,562		2,195,034
BrainChip Holdings Ltd.^(a)(c)		6,131,059		4,709,318
Breville Group Ltd.		415,364		6,140,792
Brickworks Ltd.		322,232		4,764,300
BWP Trust		2,094,284		6,310,815
Calix Ltd.^(a)		546,057		2,432,153
Capricorn Metals Ltd.^(a)		1,172,134		3,216,626
carsales.com Ltd.		1,416,742		20,653,565
Centuria Capital Group		2,075,946		3,053,768
Centuria Industrial REIT		2,446,030		5,457,438
Centuria Office REIT		1,629,158		2,134,725
Chalice Mining Ltd.^(a)		1,345,773		4,610,176
Challenger Ltd.		2,441,079		12,058,348
Champion Iron Ltd.		1,443,791		4,926,053
Charter Hall Group		2,009,706		18,161,910
Charter Hall Long Wale REIT		2,690,167		8,628,344
Charter Hall Retail REIT		2,247,798		6,653,555
Charter Hall Social Infrastructure REIT		1,424,482		3,784,072
City Chic Collective Ltd.^(a)(c)		958,792		1,568,883
Cleanaway Waste Management Ltd.		8,706,472		16,772,929
Clinuvel Pharmaceuticals Ltd.^(c)		161,332		2,137,801
Codan Ltd./Australia		426,754		2,614,774


Security	Shares		Value

Australia (continued)
Collins Foods Ltd.^(c)		461,854	$	3,366,595
Core Lithium Ltd.^(a)(c)		6,172,358		5,116,622
Coronado Global Resources Inc.^(d)		3,249,271		3,232,466
Corporate Travel Management Ltd.^(a)(c)		508,779		6,784,822
Costa Group Holdings Ltd.		2,012,343		3,648,207
Credit Corp. Group Ltd.		284,297		4,833,271
Cromwell Property Group		5,981,688		3,536,129
CSR Ltd.		2,071,806		6,649,060
Data#3 Ltd.		611,820		2,664,760
De Grey Mining Ltd.^(a)		5,152,445		3,249,290
Deterra Royalties Ltd.		1,770,772		5,404,755
Dexus Industria REIT		895,060		1,891,250
DGL Group Ltd./Au^(a)		471,253		826,778
Dicker Data Ltd.		257,498		2,040,005
Domain Holdings Australia Ltd.		1,092,362		2,734,925
Downer EDI Ltd.		2,890,196		11,251,984
Eagers Automotive Ltd.		656,709		5,805,596
Eclipx Group Ltd.^(a)(c)		1,205,962		2,233,122
Elders Ltd.		664,454		5,279,885
EML Payments Ltd.^(a)(c)		1,495,335		1,110,964
EVENT Hospitality and Entertainment Ltd.^(a)		477,258		4,773,727
Firefinch Ltd.^(a)(b)(c)		4,681,624		654,210
Flight Centre Travel Group Ltd.^(a)		685,232		8,333,258
G8 Education Ltd.		3,181,921		2,375,472
GDI Property Group Partnership		3,273,283		2,250,531
Genworth Mortgage Insurance Australia Ltd.		1,733,587		3,435,090
Gold Road Resources Ltd.		4,118,726		4,025,918
Goulamina Holdings Pty. Ltd.^(a)		3,407,276		1,035,589
GrainCorp Ltd., Class A		965,462		5,828,234
Grange Resources Ltd.		2,181,171		1,724,660
Growthpoint Properties Australia Ltd.		1,123,466		2,985,711
GUD Holdings Ltd.		610,854		3,779,220
GWA Group Ltd.		952,711		1,389,477
Hansen Technologies Ltd.		675,396		2,706,794
Harvey Norman Holdings Ltd.		2,382,870		6,953,542
Healius Ltd.		2,671,130		7,277,864
Home Consortium Ltd.		451,000		1,698,373
HomeCo Daily Needs REIT		6,120,065		5,941,102
HUB24 Ltd.		322,233		5,566,672
IGO Ltd.		2,906,760		22,776,889
Iluka Resources Ltd.		1,788,805		12,140,660
Imdex Ltd.		1,490,470		1,897,653
Imugene Ltd.^(a)(c)		21,110,812		3,674,818
Incitec Pivot Ltd.		8,289,103		21,119,340
Ingenia Communities Group		1,550,151		5,082,947
Inghams Group Ltd.		1,571,574		3,258,366
Insignia Financial Ltd.		2,598,960		5,654,352
Integral Diagnostics Ltd.		797,567		1,729,037
InvoCare Ltd.		578,545		4,488,130
ionner Ltd.^(a)		6,191,770		2,456,675
IPH Ltd.		882,433		5,447,497
IRESS Ltd.		763,891		6,125,668
JB Hi-Fi Ltd.		490,658		14,528,587
Jervois Global Ltd.^(a)		5,460,692		1,539,783
Johns Lyng Group Ltd.		716,376		3,808,438
Judo Capital Holdings Ltd.^(a)		2,243,098		2,072,391
Jumbo Interactive Ltd.		224,823		2,278,419
Karoon Energy Ltd.^(a)		2,258,857		2,984,697
Kelsian Group Ltd.		555,477		2,392,395
Kogan.com Ltd.^(a)(c)		372,745		1,206,506


Security	Shares		Value

Australia (continued)
Lake Resources NL^(a)(c)		4,881,710	$	2,816,903
Lifestyle Communities Ltd.		399,222		4,755,964
Link Administration Holdings Ltd.		2,162,419		6,666,980
Liontown Resources Ltd.^(a)		6,927,645		6,507,513
Lovisa Holdings Ltd.^(c)		247,582		3,110,154
Lynas Rare Earths Ltd.^(a)(c)		3,823,500		23,512,005
MA Financial Group Ltd.		402,886		1,745,481
Maas Group Holdings Ltd.^(c)		382,811		1,118,328
Magellan Financial Group Ltd.		589,943		6,061,228
Mayne Pharma Group Ltd.^(a)		6,701,556		1,599,145
McMillan Shakespeare Ltd.		281,779		2,429,700
Megaport Ltd.^(a)(c)		644,303		4,423,742
Mesoblast Ltd.^(a)(c)		2,432,549		1,596,316
Metcash Ltd.		4,093,401		11,932,011
Mincor Resources NL^(a)		1,521,569		2,063,697
Monadelphous Group Ltd.		382,504		2,776,870
Mount Gibson Iron Ltd.^(c)		2,610,143		962,476
Nanosonics Ltd.^(a)(c)		1,100,403		3,660,996
National Storage REIT		4,494,494		7,859,144
Nearmap Ltd.^(a)(c)		2,055,747		2,013,178
Neometals Ltd.^(a)(c)		1,958,213		1,542,383
Netwealth Group Ltd.		515,630		4,684,459
New Hope Corp. Ltd.^(c)		2,112,531		6,544,790
NEXTDC Ltd.^(a)		1,933,683		16,097,027
nib holdings Ltd.		1,929,314		9,866,630
Nick Scali Ltd.^(c)		275,571		1,870,995
Nickel Mines Ltd.		4,505,416		3,460,021
Nine Entertainment Co. Holdings Ltd.		6,160,378		8,987,802
Novonix Ltd.^(a)		1,225,526		2,477,772
NRW Holdings Ltd.		1,852,983		2,536,693
Nufarm Ltd./Australia		1,600,621		5,829,234
Objective Corp. Ltd.		109,613		1,177,046
Omni Bridgeway Ltd.^(a)		1,104,433		3,204,509
oOh!media Ltd.^(c)		1,986,824		1,748,098
Orora Ltd.		3,663,596		9,170,495
OZ Minerals Ltd.		1,418,921		18,950,037
Pact Group Holdings Ltd.		893,647		1,271,205
Paladin Energy Ltd.^(a)(c)		11,406,053		5,965,591
Pendal Group Ltd.		1,461,491		4,949,667
Pepper Money Ltd./Australia		736,299		845,277
Perenti Global Ltd.		2,552,949		1,029,908
Perpetual Ltd.		240,106		5,124,838
Perseus Mining Ltd.^(c)		5,466,994		6,488,345
PEXA Group Ltd.^(a)(c)		414,638		4,238,441
Pilbara Minerals Ltd.^(a)		10,112,783		19,939,684
Pinnacle Investment Management Group Ltd.		498,995		3,543,233
Platinum Asset Management Ltd.		2,224,143		2,855,753
PointsBet Holdings Ltd.^(a)(c)		841,351		1,906,684
PolyNovo Ltd.^(a)(c)		2,507,369		2,897,601
Premier Investments Ltd.		370,298		5,507,688
Pro Medicus Ltd.^(c)		197,851		6,930,496
PWR Holdings Ltd.		317,851		1,867,923
Qube Holdings Ltd.		7,816,198		15,203,535
Ramelius Resources Ltd.		3,744,485		2,837,094
Red 5 Ltd.^(a)		10,175,449		1,887,304
Regis Resources Ltd.		3,277,512		4,060,705
Reliance Worldwide Corp. Ltd.		3,330,416		10,405,440
Rural Funds Group		1,528,867		2,945,474
Sandfire Resources Ltd.		1,738,715		5,611,096
Sayona Mining Ltd.^(a)(c)		27,910,101		3,896,493


Security	Shares		Value

Australia (continued)
Select Harvests Ltd.^(c)		509,075	$	1,645,104
Seven Group Holdings Ltd.		695,822		8,621,122
Seven West Media Ltd.^(a)		4,029,326		1,346,658
SG Fleet Group Ltd.		545,750		1,002,586
Shopping Centres Australasia Property Group		4,748,506		9,910,010
Sierra Rutile Holdings Ltd.^(a)		1,788,805		399,948
Sigma Healthcare Ltd.		4,858,241		2,110,139
Silver Lake Resources Ltd.^(a)		3,854,183		3,896,987
Sims Ltd.		707,644		7,358,789
SiteMinder Ltd.^(a)(c)		919,239		2,744,972
SmartGroup Corp. Ltd.		529,924		2,567,448
Southern Cross Media Group Ltd.^(c)		1,065,556		894,551
St. Barbara Ltd.		3,491,934		2,753,253
Star Entertainment Grp Ltd. (The)^(a)		3,801,992		8,237,596
Steadfast Group Ltd.		4,124,409		15,462,578
Super Retail Group Ltd.		662,231		4,622,905
Syrah Resources Ltd.^(a)		2,687,511		2,800,177
Tabcorp Holdings Ltd.		9,517,857		6,639,455
Tassal Group Ltd.		989,530		3,407,695
Technology One Ltd.		1,226,896		10,179,884
Telix Pharmaceuticals Ltd.^(a)		916,956		4,789,470
Temple & Webster Group Ltd.^(a)		387,188		1,439,302
Tyro Payments Ltd.^(a)(c)		1,693,800		991,111
United Malt Grp Ltd.		1,070,628		2,764,927
Ventia Services Group Pty Ltd.		1,071,459		2,008,022
Viva Energy Group Ltd.^(d)		3,612,931		6,787,144
Vulcan Energy Resources Ltd.^(a)(c)		366,810		2,025,629
Waypoint REIT Ltd.		3,042,903		5,605,313
Webjet Ltd.^(a)(c)		1,607,219		5,856,065
West African Resources Ltd.^(a)		4,146,463		3,860,272
Westgold Resources Ltd.		2,025,083		1,848,212
Whitehaven Coal Ltd.		3,953,573		17,407,106
Worley Ltd.		1,319,009		13,311,828
Zip Co. Ltd.^(a)(c)		2,445,145		1,975,653


				1,135,507,596

Austria — 1.0%
Agrana Beteiligungs AG		12,995		215,161
ams-OSRAM AG^(a)(c)		1,182,435		9,760,473
ANDRITZ AG		290,813		13,607,083
AT&S Austria Technologie & Systemtechnik AG		106,944		5,343,375
BAWAG Group AG^(d)		362,032		16,714,928
CA Immobilien Anlagen AG		185,064		6,040,467
DO & CO AG^(a)(c)		28,339		2,367,757
EVN AG		168,110		3,964,929
FACC AG^(a)(c)		109,182		829,552
IMMOFINANZ AG^(c)		151,311		2,311,978
Kontron AG^(c)		184,341		2,746,763
Lenzing AG		56,258		4,539,930
Oesterreichische Post AG^(c)		149,636		4,312,033
Palfinger AG^(c)		54,113		1,341,175
Porr AG		56,282		699,196
Raiffeisen Bank International AG		634,005		7,680,814
S IMMO AG		160,415		3,741,678
Schoeller-Bleckmann Oilfield Equipment AG		44,015		2,516,741
Semperit AG Holding		43,521		882,488
Strabag SE		65,088		2,690,862
Telekom Austria AG		708,991		4,383,975
UNIQA Insurance Group AG		557,980		3,822,774
Vienna Insurance Group AG Wiener Versicherung Gruppe		153,644		3,527,407


Security	Shares		Value

Austria (continued)
Wienerberger AG		497,082	$	11,441,584


				115,483,123

Belgium — 1.5%
Ackermans & van Haaren NV		99,867		14,680,609
Aedifica SA		158,402		16,446,149
AGFA-Gevaert NV^(a)		608,690		2,202,321
Barco NV		290,348		7,607,509
Bekaert SA		151,792		5,376,087
bpost SA^(c)		427,496		2,682,931
Cofinimmo SA		129,639		14,589,441
Dredging Environmental & Marine Engineering NV^(a)		32,635		3,773,071
Econocom Group SA/NV		482,794		1,642,480
Etablissements Franz Colruyt NV		235,924		6,517,637
Euronav NV		742,630		10,139,705
Fagron		283,732		4,327,707
Galapagos NV^(a)(c)		194,458		9,865,638
Gimv NV		86,470		4,668,470
Immobel SA^(c)		19,097		1,147,318
Intervest Offices & Warehouses NV		108,202		3,063,283
Ion Beam Applications		103,910		1,813,916
KBC Ancora		148,225		5,191,582
Kinepolis Group NV^(a)(c)		56,622		2,788,789
Melexis NV		84,305		7,233,607
Mithra Pharmaceuticals SA^(a)(c)		84,918		574,037
Montea NV		47,589		4,812,557
Ontex Group NV^(a)		287,957		1,882,692
Orange Belgium SA^(a)(c)		65,773		1,266,491
Recticel SA		174,135		2,673,177
Retail Estates NV		40,978		2,893,220
Shurgard Self Storage SA		111,347		5,743,397
Telenet Group Holding NV		198,107		3,168,381
Tessenderlo Group SA^(a)		109,839		3,442,432
Van de Velde NV		20,133		757,454
VGP NV		41,549		7,297,501
X-Fab Silicon Foundries SE^(a)(c)(d)		246,410		1,645,575
Xior Student Housing NV		101,278		4,430,208


				166,345,372

Denmark — 1.9%
ALK-Abello A/S^(a)		561,174		11,204,248
Alm Brand A/S		3,622,457		5,451,433
Amagerbanken A/S^(b)		130,550		—
Ambu A/S, Class B^(c)		714,426		8,122,474
Bavarian Nordic A/S^(a)(c)		299,775		14,864,781
Better Collective A/S^(a)		128,922		2,047,780
cBrain A/S		44,478		1,275,416
Chemometec A/S		69,716		8,327,740
D/S Norden A/S		100,312		4,377,377
Dfds A/S		148,504		5,322,171
Drilling Co. of 1972 A/S (The)^(a)		86,807		4,119,685
FLSmidth & Co. A/S		222,183		6,102,756
H Lundbeck A/S		1,170,518		5,785,415
H Lundbeck A/S, Class A^(a)(c)		292,319		1,393,648
ISS A/S^(a)		673,547		11,771,268
Jyske Bank A/S, Registered^(a)		218,566		11,438,984
Matas A/S		146,396		1,570,696
Netcompany Group A/S^(a)(d)		170,329		9,551,588
Nilfisk Holding A/S^(a)		53,562		1,265,918
NKT A/S^(a)		172,017		8,813,318
NTG Nordic Transport Group A/S, Class A^(a)(c)		33,439		1,474,282


Security	Shares		Value

Denmark (continued)
Per Aarsleff Holding A/S		75,543	$	2,323,251
Ringkjoebing Landbobank A/S		116,712		13,105,926
Royal Unibrew A/S		207,765		17,718,944
Scandinavian Tobacco Group A/S, Class A^(d)		246,764		4,726,091
Schouw & Co. A/S		52,956		3,942,891
SimCorp A/S		171,470		12,798,222
Solar A/S, Class B		22,365		2,103,320
Spar Nord Bank A/S		356,731		4,087,433
Sydbank A/S		250,748		7,700,236
Topdanmark A/S		191,022		9,310,342
Zealand Pharma A/S^(a)(c)		150,652		2,717,077


				204,814,711

Finland — 1.5%
Aktia Bank OYJ		215,378		2,062,590
Anora Group OYJ		142,020		1,206,818
Cargotec OYJ, Class B		162,995		5,764,618
Caverion OYJ		436,622		2,177,527
Citycon OYJ		360,065		2,561,812
Finnair OYJ^(a)(c)		2,691,595		1,106,551
F-Secure OYJ^(a)		473,469		1,468,663
Harvia OYJ^(c)		64,874		1,384,295
Huhtamaki OYJ		411,688		16,047,006
Kamux Corp.		131,053		1,080,629
Kemira OYJ		461,527		5,860,102
Kempower OYJ^(a)(c)		70,349		989,559
Kojamo OYJ		582,706		10,395,101
Konecranes OYJ		250,450		6,724,290
Marimekko OYJ		111,661		1,552,282
Metsa Board OYJ, Class B		755,996		6,739,535
Metso Outotec OYJ		2,827,485		23,373,946
Musti Group OYJ		132,446		2,745,125
Nokian Renkaat OYJ		562,643		6,654,815
Oriola OYJ, Class B		758,192		1,538,971
Outokumpu OYJ		1,561,585		6,875,351
Puuilo OYJ		215,141		1,095,264
QT Group OYJ^(a)		69,329		5,605,988
Remedy Entertainment OYJ^(c)		33,231		898,960
Revenio Group OYJ		100,999		5,202,404
Rovio Entertainment OYJ^(d)		166,745		1,130,950
Sanoma OYJ		314,556		4,443,300
Spinnova OYJ^(a)(c)		63,443		486,565
Talenom OYJ^(c)		119,200		1,365,839
TietoEVRY Oyj		368,211		10,015,307
TietoEVRY OYJ, New		12,844		348,828
Tokmanni Group Corp.		207,233		2,725,994
Uponor OYJ		235,393		3,543,895
Valmet OYJ		705,511		19,632,512
WithSecure OYJ^(a)		473,389		859,277
YIT OYJ		611,229		2,079,172


				167,743,841

France — 3.5%
AB Science SA^(a)(c)		106,471		816,185
ABC arbitrage		83,506		597,431
Air France-KLM^(a)(c)		4,977,110		6,862,608
AKWEL^(c)		36,551		658,229
Albioma SA		109,083		5,558,804
ALD SA^(d)		430,931		5,104,820
Altarea SCA		16,803		2,491,915
Alten SA		123,591		16,739,168


Security	Shares		Value

France (continued)
Antin Infrastructure Partners SA		147,670	$	4,434,208
APERAM SA		202,123		6,590,073
Aramis Group SAS^(a)(c)(d)		85,520		350,450
Atos SE^(a)		430,266		5,304,537
Aubay		30,099		1,600,450
Believe SA^(a)(c)		80,243		742,814
Beneteau SA		167,082		1,921,367
Boiron SA		34,035		1,591,435
Bonduelle SCA^(c)		59,486		799,976
Carmila SA		241,155		3,816,933
Casino Guichard Perrachon SA^(a)(c)		190,836		2,246,905
CGG SA^(a)		2,997,208		2,676,989
Chargeurs SA		70,207		1,203,609
Cie. des Alpes^(a)		81,763		1,435,507
Cie. Plastic Omnium SA		249,360		4,663,878
Coface SA^(a)		444,033		4,650,286
Derichebourg SA		404,563		2,578,610
Elior Group SA^(a)(c)(d)		561,062		1,823,278
Elis SA		804,332		12,005,339
Equasens		19,115		1,665,217
Eramet SA		39,571		4,188,844
Esker SA		22,517		3,382,308
Etablissements Maurel et Prom SA		250,302		1,322,781
Euroapi SA^(a)		215,793		3,640,418
Eutelsat Communications SA		731,054		5,563,118
Faurecia SE^(a)(c)		672,615		12,157,512
Fnac Darty SA^(c)		68,181		2,734,923
Gaztransport Et Technigaz SA		108,934		15,024,613
Groupe Guillin		21,316		457,506
ICADE		147,236		7,371,611
ID Logistics Group^(a)		12,297		3,981,622
Imerys SA		144,240		4,887,777
Interparfums SA		80,334		4,030,221
IPSOS		169,952		8,711,007
JCDecaux SA^(a)		272,914		4,401,148
Kaufman & Broad SA^(c)		51,964		1,442,714
Korian SA		319,183		4,722,723
LISI		82,869		1,952,515
LNA Sante SA		17,779		608,729
Maisons du Monde SA^(d)		130,443		1,394,235
Manitou BF SA^(c)		54,046		1,027,421
McPhy Energy SA^(a)(c)		89,945		1,383,989
Mercialys SA		328,792		2,914,496
Mersen SA		71,525		2,516,351
Metropole Television SA		109,900		1,447,655
Neoen SA^(d)		203,821		8,964,265
Nexans SA		102,216		9,817,294
Nexity SA		165,573		4,068,904
Orpea SA^(a)(c)		232,415		5,786,946
Peugeot Invest		22,362		2,269,568
Quadient SA		144,735		2,817,937
Rexel SA		1,034,092		18,378,341
Rubis SCA		396,637		9,694,291
SCOR SE		677,755		11,926,804
SES SA		1,622,955		12,248,035
SES-Imagotag SA^(a)		20,023		1,945,023
SMCP SA^(a)(d)		165,692		902,167
Societe BIC SA^(c)		105,044		5,935,320
SOITEC^(a)		110,552		17,695,702
Solutions 30 SE^(a)(c)		360,123		1,225,506


Security	Shares		Value

France (continued)
Somfy SA		31,299	$	3,957,703
Sopra Steria Group SACA		65,111		10,849,514
SPIE SA		546,661		13,128,024
Technicolor SA^(a)		838,172		2,679,612
Television Francaise 1		173,170		1,192,913
Trigano SA		36,792		3,599,938
Vallourec SA^(a)		382,830		3,547,311
Valneva SE^(a)(c)		355,196		3,532,629
Verallia SA^(d)		320,536		8,204,651
Vicat SA		74,955		1,954,210
Vilmorin & Cie SA		26,104		1,079,189
Virbac SA^(c)		17,995		6,646,553
Voltalia SA^(a)(c)		116,910		2,479,109
Waga Energy SA^(a)		20,844		743,496
Wavestone		34,143		1,782,870


				381,251,083

Germany — 4.1%
1&1 AG		185,102		3,207,318
Aareal Bank AG^(a)		253,246		8,230,794
About You Holding SE^(a)(c)		162,185		1,464,575
Adesso SE		13,396		2,320,928
ADLER Group SA^(a)(c)(d)		289,771		1,027,750
AIXTRON SE		481,607		12,450,915
Amadeus Fire AG		24,543		2,742,180
Atoss Software AG		17,291		2,728,401
AURELIUS Equity Opportunities SE & Co. KGaA		122,396		2,919,700
Aurubis AG		132,807		9,588,277
Auto1 Group SE^(a)(c)(d)		364,393		3,143,026
Basler AG^(c)		49,158		1,872,984
BayWa AG		59,886		2,577,731
Bertrandt AG		31,692		1,183,639
Bike24 Holding AG^(a)(c)		82,393		244,812
Bilfinger SE		128,425		3,880,690
Borussia Dortmund GmbH & Co. KGaA^(a)(c)		338,853		1,321,789
CANCOM SE		165,777		5,667,059
Ceconomy AG		687,209		1,385,984
Cewe Stiftung & Co. KGaA^(c)		21,856		1,876,938
CompuGroup Medical SE & Co. KgaA		114,059		4,944,263
CropEnergies AG		105,856		1,560,002
CTS Eventim AG & Co. KGaA^(a)		245,236		13,508,402
Datagroup SE		20,729		1,580,180
Dermapharm Holding SE		78,787		4,438,740
Deutsche Beteiligungs AG		51,306		1,480,806
Deutsche Euroshop^(b)		211,517		4,647,889
Deutsche Pfandbriefbank AG^(d)		566,781		5,238,947
Deutz AG		464,440		1,938,988
DIC Asset AG		177,862		2,023,089
Draegerwerk AG & Co. KGaA		13,057		593,848
Duerr AG		218,772		5,439,260
Eckert & Ziegler Strahlen- und Medizintechnik AG		63,688		2,824,107
Elmos Semiconductor SE		35,702		1,729,164
ElringKlinger AG		125,518		1,004,619
Encavis AG		513,664		11,240,392
Energiekontor AG		26,936		2,643,636
Evotec SE^(a)		600,870		15,611,323
Fielmann AG		110,678		4,473,852
flatexDEGIRO AG^(a)(c)		287,740		2,926,666
Fraport AG Frankfurt Airport Services Worldwide^(a)		157,515		7,203,575
Freenet AG		514,844		12,122,847
Gerresheimer AG^(c)		133,961		8,046,423


Security	Shares		Value

Germany (continued)
GFT Technologies SE		72,572	$	3,279,880
Global Fashion Group SA^(a)(c)		415,182		616,055
Grand City Properties SA		406,743		5,547,435
GRENKE AG^(c)		117,109		3,075,055
Hamborner REIT AG		276,549		2,433,188
Hamburger Hafen und Logistik AG		112,423		1,566,869
Heidelberger Druckmaschinen AG^(a)(c)		1,111,984		1,706,657
Hensoldt AG		154,686		3,966,067
HOCHTIEF AG		106,678		5,725,897
Hornbach Holding AG & Co. KGaA		37,114		2,913,080
Hugo Boss AG		240,885		14,234,466
Hypoport SE^(a)		16,337		3,395,673
Indus Holding AG		74,573		1,788,188
Instone Real Estate Group SE^(d)		202,922		2,223,222
Jenoptik AG		216,651		5,247,360
JOST Werke AG^(d)		56,255		2,338,697
K+S AG, Registered		813,079		17,144,766
Kloeckner & Co. SE		312,667		3,064,329
Krones AG		59,660		5,198,183
KWS Saat SE & Co. KGaA		54,400		3,323,778
LANXESS AG		348,116		12,802,239
MBB SE^(c)		8,158		901,393
Media and Games Invest SE^(a)(c)		474,599		1,158,308
Medios AG^(a)		60,199		1,750,120
METRO AG^(a)		532,578		4,328,314
MLP SE		277,973		1,625,065
MorphoSys AG^(a)(c)		150,222		3,339,964
Nagarro SE^(a)		34,642		4,062,728
Nordex SE^(a)(c)		538,774		5,235,107
Norma Group SE		137,354		2,562,472
Northern Data AG^(a)(c)		20,907		511,200
OHB SE		14,662		503,222
PATRIZIA AG		198,339		2,558,229
Pfeiffer Vacuum Technology AG		15,734		2,487,714
PNE AG		152,034		2,420,103
ProSiebenSat.1 Media SE		751,101		6,423,955
PVA TePla AG^(a)		83,791		1,830,311
Salzgitter AG^(c)		126,081		3,210,104
Secunet Security Networks AG		6,829		1,975,373
SGL Carbon SE^(a)		267,578		2,026,704
Siltronic AG		62,743		5,094,002
Sirius Real Estate Ltd.		4,959,986		5,773,381
Sixt SE		56,964		6,954,261
SMA Solar Technology AG^(a)(c)		44,230		2,413,293
Software AG^(c)		219,447		5,928,687
Stabilus SE		104,597		5,894,875
Steico SE		23,519		1,922,099
Stratec SE		34,014		3,137,572
Stroeer SE & Co. KGaA		144,456		6,318,183
Suedzucker AG		299,253		4,221,669
Synlab AG		474,248		8,979,938
TAG Immobilien AG		756,199		8,374,348
Takkt AG		146,568		1,998,619
TeamViewer AG^(a)(d)		645,389		6,719,580
thyssenkrupp AG^(a)		1,979,548		12,225,840
Tonies SE, Class A^(a)(c)		169,595		866,673
TUI AG^(a)(c)		4,476,865		7,233,893
Varta AG^(c)		77,278		6,290,770
VERBIO Vereinigte BioEnergie AG		95,143		5,904,418
Vitesco Technologies Group AG^(a)		84,188		4,578,909


Security	Shares		Value

Germany (continued)
Vossloh AG		51,843	$	1,850,271
Wacker Neuson SE		119,977		2,308,459
Wuestenrot & Wuerttembergische AG		68,041		1,168,449
Zeal Network SE^(c)		57,252		1,831,500


				455,547,667

Hong Kong — 2.0%
Apollo Future Mobility Group Ltd.^(a)(c)		17,656,000		708,894
ASMPT Ltd.		1,327,000		10,573,049
Atlas Corp.		360,903		4,215,347
Bank of East Asia Ltd. (The)		5,451,800		6,929,032
Brightoil Petroleum Holdings Ltd.^(b)		12,938,512		16
Cafe de Coral Holdings Ltd.		1,520,000		2,319,473
Champion REIT		11,252,000		4,962,638
Chinese Estates Holdings Ltd.^(a)		1,810,500		498,318
Chow Sang Sang Holdings International Ltd.		1,570,000		1,622,979
CITIC Telecom International Holdings Ltd.		6,837,000		2,280,068
Citychamp Watch & Jewellery Group Ltd.^(a)		5,546,000		840,742
CK Life Sciences International Holdings Inc.^(c)		14,480,000		1,478,405
C-Mer Eye Care Holdings Ltd.^(a)(c)		2,236,000		1,139,388
Comba Telecom Systems Holdings Ltd.^(a)		8,152,000		1,473,695
Cowell e Holdings Inc.^(a)		1,238,000		2,174,647
Crystal International Group Ltd.^(c)(d)		2,155,500		680,690
Dah Sing Banking Group Ltd.		2,191,200		1,671,282
Dah Sing Financial Holdings Ltd.		629,600		1,653,361
EC Healthcare		1,997,000		1,716,675
E-Commodities Holdings Ltd.		5,458,000		1,247,268
Far East Consortium International Ltd.		4,415,000		1,424,256
First Pacific Co. Ltd.		9,704,000		3,872,285
Fortune REIT		6,105,000		5,213,309
Fosun Tourism Group^(a)(c)(d)		1,060,000		1,514,567
Guotai Junan International Holdings Ltd.		12,402,000		1,249,480
Haitong International Securities Group Ltd.^(c)		9,198,899		1,101,174
Hang Lung Group Ltd.		3,312,000		5,973,610
Health and Happiness H&H International Holdings Ltd.		964,000		1,159,226
HKBN Ltd.		3,567,500		3,962,929
Hong Kong Technology Venture Co. Ltd.^(c)		2,356,000		1,468,716
Hutchison Telecommunications Hong Kong Holdings Ltd.		10,256,000		1,854,024
Hysan Development Co. Ltd.		2,565,000		7,863,230
IGG Inc.		3,323,000		1,332,687
Johnson Electric Holdings Ltd.		1,440,250		1,841,680
K Wah International Holdings Ltd.		4,281,000		1,591,706
Kerry Logistics Network Ltd.		1,577,888		3,167,342
Kerry Properties Ltd.		2,351,500		5,655,677
Lifestyle International Holdings Ltd.^(a)		1,606,000		551,321
LK Technology Holdings Ltd.		2,332,500		4,074,987
Luk Fook Holdings International Ltd.		1,526,000		3,725,928
Man Wah Holdings Ltd.		7,429,200		5,815,588
MECOM Power and Construction Ltd.		4,589,000		1,332,874
Melco International Development Ltd.^(a)(c)		2,884,000		1,955,924
Melco Resorts & Entertainment Ltd., ADR^(a)(c)		903,126		4,651,099
MGM China Holdings Ltd.^(a)		3,988,800		2,141,432
Nissin Foods Co. Ltd.^(c)		1,343,000		976,401
NWS Holdings Ltd.		6,596,000		6,541,978
Pacific Basin Shipping Ltd.		20,531,000		9,818,659
Pacific Textiles Holdings Ltd.		3,789,000		1,506,703
PAX Global Technology Ltd.		2,954,000		2,763,805
PCCW Ltd.		17,664,000		9,453,909
Perfect Medical Health Management Ltd.		1,872,000		879,757


Security	Shares		Value

Hong Kong (continued)
Prosperity REIT		9,176,000	$	2,805,437
Realord Group Holdings Ltd.^(a)(c)		1,798,000		2,256,179
Sa Sa International Holdings Ltd.^(a)		5,154,000		853,285
Shangri-La Asia Ltd.^(a)		4,674,000		3,812,305
Shun Tak Holdings Ltd.^(a)(c)		6,116,000		1,146,532
SJM Holdings Ltd.^(a)(c)		8,288,000		3,381,405
SmarTone Telecommunications Holdings Ltd.		2,607,500		1,361,264
Stella International Holdings Ltd.		2,141,000		2,086,479
Sun Hung Kai & Co. Ltd.		2,447,000		1,128,274
SUNeVision Holdings Ltd.		2,799,000		1,830,591
Sunlight REIT		4,117,000		1,966,745
Texhong Textile Group Ltd.		1,167,500		1,086,543
Theme International Holdings Ltd.^(a)(c)		19,970,000		2,624,679
United Energy Group Ltd.		33,326,000		3,829,346
United Laboratories International Holdings Ltd. (The)		4,400,000		2,321,175
Value Partners Group Ltd.^(c)		3,715,000		1,233,704
Vesync Co. Ltd.		1,218,000		780,651
Vitasoy International Holdings Ltd.		3,660,000		5,515,239
Viva China Holdings Ltd.^(a)		16,552,000		2,384,571
Vobile Group Ltd.^(a)(c)		6,217,000		3,178,526
VSTECS Holdings Ltd.		3,784,000		2,890,100
VTech Holdings Ltd.		681,700		4,647,178
Wynn Macau Ltd.^(a)		6,539,600		4,300,596
Xinyi Electric Storage Holdings Ltd.^(a)		1		1
Yue Yuen Industrial Holdings Ltd.		3,399,500		4,521,176
Zensun Enterprises Ltd.^(c)		2,357,000		720,621


				217,284,832

Ireland — 0.7%
AIB Group PLC		3,465,280		7,882,290
Bank of Ireland Group PLC		4,336,505		24,838,454
C&C Group PLC^(a)(c)		1,659,686		4,011,334
Cairn Homes PLC^(a)		3,102,986		3,444,147
Dalata Hotel Group PLC^(a)		854,382		3,148,125
Glanbia PLC		844,038		9,920,461
Glenveagh Properties PLC^(a)(d)		2,815,635		3,125,105
Grafton Group PLC		954,499		9,872,825
Greencore Group PLC^(a)		2,288,758		2,803,973
Irish Residential Properties REIT PLC		1,958,702		2,710,560
Origin Enterprises PLC		552,320		2,242,234
Uniphar PLC^(a)		970,074		3,207,385


				77,206,893

Israel — 3.1%
AFI Properties Ltd.		42,807		2,239,197
Africa Israel Residences Ltd.		26,721		1,540,681
Airport City Ltd.^(a)		300,329		5,806,130
Alony Hetz Properties & Investments Ltd.^(c)		608,975		8,886,902
Altshuler Shaham Penn Ltd.^(c)		266,250		771,878
Amot Investments Ltd.		943,876		6,471,096
Arad Investment & Industrial Development Ltd.		14,087		1,724,063
Ashtrom Group Ltd.		164,072		3,823,759
AudioCodes Ltd.		110,657		2,712,977
Azorim-Investment Development & Construction Co. Ltd.^(c)		389,599		1,488,072
Bezeq The Israeli Telecommunication Corp. Ltd.		8,754,730		14,989,363
Big Shopping Centers Ltd.		48,545		6,466,196
Blue Square Real Estate Ltd.		19,925		1,553,762
Camtek Ltd./Israel^(a)(c)		119,932		3,539,438
Cellcom Israel Ltd.^(a)(c)		402,937		2,209,990
Cellebrite DI Ltd.^(a)(c)		156,404		789,840


Security	Shares		Value

Israel (continued)
Clal Insurance Enterprises Holdings Ltd.^(a)		260,337	$	5,092,638
Cognyte Software Ltd.^(a)(c)		281,755		1,270,715
Danel Adir Yeoshua Ltd.		22,943		2,909,860
Danya Cebus Ltd.		32,887		846,487
Delek Automotive Systems Ltd.		220,035		2,769,005
Delek Group Ltd.^(a)		38,660		5,870,022
Delta Galil Industries Ltd.		49,668		2,426,981
Doral Group Renewable Energy Resources Ltd.^(a)(c)		291,917		1,021,005
Elco Ltd.		40,556		2,814,132
Electra Consumer Products 1970 Ltd.^(c)		50,821		2,391,552
Electra Ltd./Israel		8,872		5,317,011
Electra Real Estate Ltd.		106,628		1,760,267
Electreon Wireless Ltd.^(a)(c)		16,346		395,886
Energix-Renewable Energies Ltd.		984,143		3,988,927
Enlight Renewable Energy Ltd.^(a)		3,945,683		8,988,776
Equital Ltd.^(a)(c)		140,477		4,981,230
Fattal Holdings 1998 Ltd.^(a)		25,583		2,991,949
FIBI Holdings Ltd.		71,296		3,315,354
First International Bank Of Israel Ltd. (The)		229,570		9,706,234
Fiverr International Ltd.^(a)		132,303		4,244,280
Formula Systems 1985 Ltd.		40,289		4,191,391
Fox Wizel Ltd.^(c)		35,009		4,451,208
G City Ltd.		336,965		2,080,143
Gav-Yam Lands Corp. Ltd.		1		5
Gilat Satellite Networks Ltd.^(a)(c)		173,419		1,170,985
Harel Insurance Investments & Financial Services Ltd.		481,899		4,927,476
Hilan Ltd.		59,958		3,493,539
IDI Insurance Co. Ltd.^(c)		42,662		1,112,430
Inmode Ltd.^(a)(c)		300,839		9,999,888
Isracard Ltd.		848,020		2,650,996
Israel Canada T.R Ltd.		547,891		2,116,171
Israel Corp. Ltd.^(a)		16,303		7,260,947
Israel Land Development - Urban Renewal Ltd.^(c)		68,158		1,089,246
Isras Investment Co. Ltd.		7,574		1,498,949
Ituran Location and Control Ltd.		66,095		1,678,813
M Yochananof & Sons Ltd.		21,572		1,243,128
Magic Software Enterprises Ltd.		112,441		2,250,140
Malam - Team Ltd.^(c)		36,107		809,741
Matrix IT Ltd.		160,673		4,083,182
Maytronics Ltd.^(c)		203,592		2,682,789
Mega Or Holdings Ltd.		97,898		3,280,398
Mehadrin Ltd.^(a)		—		1
Melisron Ltd.^(a)		98,386		7,444,389
Menora Mivtachim Holdings Ltd.^(a)		139,991		2,801,990
Migdal Insurance & Financial Holdings Ltd.		1,712,989		2,675,471
Mivne Real Estate KD Ltd.		2,493,417		8,468,499
Nano Dimension Ltd., ADR^(a)(c)		1,095,893		3,605,488
Nano-X Imaging Ltd.^(a)(c)		153,303		1,845,768
Naphtha Israel Petroleum Corp. Ltd.^(a)(c)		330,779		2,069,240
Nayax Ltd.^(a)		341,844		920,435
Neto Malinda Trading Ltd.^(a)(c)		47,961		1,809,856
Nova Ltd.^(a)		120,859		12,835,634
Oil Refineries Ltd.		8,736,116		3,292,191
One Software Technologies Ltd.^(c)		165,054		2,710,845
OPC Energy Ltd.^(a)(c)		385,511		4,458,586
OY Nofar Energy Ltd.^(a)(c)		63,082		1,854,351
Partner Communications Co. Ltd.^(a)(c)		579,420		4,624,525
Paz Oil Co. Ltd.^(a)(c)		42,273		5,213,654
Perion Network Ltd.^(a)(c)		157,882		3,045,577


Security	Shares		Value

Israel (continued)
Phoenix Holdings Ltd. (The)		651,175	$	6,958,204
Plus500 Ltd.		421,114		8,546,704
Prashkovsky Investments and Construction Ltd.		32,077		1,038,418
Property & Building Corp. Ltd.^(a)(c)		11,854		1,137,813
RADA Electronic Industries Ltd.^(a)(c)		178,216		1,803,546
Radware Ltd.^(a)		173,980		4,024,157
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.^(c)		37,851		2,961,340
Reit 1 Ltd.		760,362		4,406,020
Retailors Ltd.^(c)		50,921		1,151,178
Sapiens International Corp. NV^(c)		135,449		3,552,580
Sella Capital Real Estate Ltd.		820,472		2,433,496
Shapir Engineering and Industry Ltd.		589,847		5,252,364
Shikun & Binui Ltd.^(a)		1,020,736		4,811,315
Shufersal Ltd.		1,112,099		7,266,674
SimilarWeb Ltd.^(a)(c)		78,932		657,504
Sisram Medical Ltd.^(d)		578,800		823,002
Strauss Group Ltd.^(c)		214,855		5,708,984
Summit Real Estate Holdings Ltd.^(c)		155,048		2,825,220
Taboola.com Ltd.^(a)		239,114		626,479
Tadiran Group Ltd.		14,522		2,246,807
Taro Pharmaceutical Industries Ltd.^(a)		39,732		1,418,035
Tower Semiconductor Ltd.^(a)		1		37
Tremor International Ltd.^(a)(c)		395,084		2,075,580
YH Dimri Construction & Development Ltd.^(c)		32,952		2,749,143


				344,338,320

Italy — 2.7%
A2A SpA		6,839,589		8,815,530
ACEA SpA		175,654		2,536,554
Anima Holding SpA^(d)		1,033,892		3,629,828
Antares Vision SpA^(a)		116,754		1,249,176
Arnoldo Mondadori Editore SpA		490,976		851,430
Ascopiave SpA		272,720		775,018
Autogrill SpA^(a)		815,322		5,319,348
Azimut Holding SpA		453,612		7,935,091
Banca Generali SpA^(c)		247,296		7,194,728
Banca IFIS SpA		110,697		1,489,390
Banca Mediolanum SpA		943,851		6,250,559
Banca Monte dei Paschi di Siena SpA^(a)(c)		1,060,237		449,634
Banca Popolare di Sondrio SPA		1,912,459		6,346,631
Banco BPM SpA		6,138,701		15,899,685
BFF Bank SpA^(d)		680,775		4,783,076
Biesse SpA^(c)		59,204		844,276
Bio On SpA^(b)(c)		19,879		—
BPER Banca		4,513,257		6,264,930
Brembo SpA		640,263		6,763,379
Brunello Cucinelli SpA		145,366		8,448,500
Buzzi Unicem SpA		413,863		7,566,696
Carel Industries SpA^(d)		168,765		3,845,016
CIR SpA-Compagnie Industriali^(a)		5,540,507		2,347,178
Credito Emiliano SpA		384,616		2,176,982
Danieli & C Officine Meccaniche SpA		32,342		665,235
Datalogic SpA^(c)		77,130		601,092
De’ Longhi SpA^(c)		323,379		6,150,542
Digital Bros. SpA		20,654		560,331
Digital Value SpA^(a)		14,714		964,374
doValue SpA^(d)		254,652		1,554,982
El.En. SpA		190,398		2,859,244
Enav SpA^(a)(d)		1,150,769		5,031,264
ERG SpA		253,836		8,279,428


Security	Shares		Value

Italy (continued)
Esprinet SpA		126,048	$	912,334
Fila SpA		100,984		821,764
Fincantieri SpA^(a)(c)		2,127,104		1,118,274
Gruppo MutuiOnline SpA		110,899		2,971,632
GVS SpA^(d)		299,865		2,913,594
Hera SpA		3,544,354		10,183,908
Illimity Bank SpA^(a)		224,174		2,308,044
Immobiliare Grande Distribuzione SIIQ SpA		224,983		836,339
Interpump Group SpA		300,747		12,853,261
Iren SpA		3,032,354		5,714,537
Italgas SpA		2,058,358		11,775,435
Italmobiliare SpA		59,964		1,670,687
Juventus Football Club SpA^(a)(c)		4,254,567		1,567,534
Leonardo SpA		1,714,153		16,055,780
Maire Tecnimont SpA^(c)		617,813		1,715,717
MARR SpA		147,158		2,036,663
OVS SpA^(c)(d)		921,380		1,481,926
Pharmanutra SpA		14,257		981,268
Piaggio & C SpA		727,856		1,917,554
Pirelli & C SpA^(d)		1,481,269		6,413,334
RAI Way SpA^(d)		419,559		2,088,146
Reply SpA		94,979		12,503,645
Safilo Group SpA^(a)(c)		960,753		1,312,801
Saipem SpA^(a)(c)		4,901,520		4,077,542
Salcef SpA		107,075		2,066,733
Salvatore Ferragamo SpA^(c)		216,050		3,832,255
Sanlorenzo SpA/Ameglia^(c)		52,394		1,824,039
Saras SpA^(a)		2,397,905		3,041,793
Seco SpA^(a)(c)		134,441		873,514
Sesa SpA		32,865		4,664,758
SOL SpA		153,789		2,852,331
Tamburi Investment Partners SpA		447,918		3,721,529
Technogym SpA^(c)(d)		596,028		4,199,017
Technoprobe SpA^(a)		528,649		4,259,031
Tinexta SpA		86,331		2,149,812
Tod’s SpA^(a)(c)		40,300		1,431,360
Unipol Gruppo SpA		1,664,623		6,982,600
Webuild SpA^(c)		1,672,075		2,580,534
Wiit SpA		43,387		889,099
Zignago Vetro SpA		117,732		1,493,471


				291,542,722

Japan — 29.8%
77 Bank Ltd. (The)		221,800		2,964,425
ABC-Mart Inc.		141,700		6,000,848
Activia Properties Inc.		2,974		9,324,898
Adastria Co. Ltd.		95,680		1,436,909
ADEKA Corp.		328,300		5,938,383
Advance Logistics Investment Corp.		2,338		2,695,563
Advance Residence Investment Corp.		5,548		15,286,933
Aeon Delight Co. Ltd.		93,500		2,023,598
AEON Financial Service Co. Ltd.		464,100		5,080,959
Aeon Hokkaido Corp.		101,200		804,169
Aeon Mall Co. Ltd.		435,600		5,557,952
AEON REIT Investment Corp.		6,910		8,104,677
Ai Holdings Corp.		147,800		1,871,014
Aica Kogyo Co. Ltd.		226,200		5,241,256
Aichi Corp.		124,700		803,163
Aida Engineering Ltd.		300,500		2,068,335
Aiful Corp.		1,308,700		3,837,499
Ain Holdings Inc.		105,300		6,069,089


Security	Shares		Value

Japan (continued)
Air Water Inc.		784,100	$	10,556,251
Airtrip Corp.^(c)		61,400		1,140,006
Alfresa Holdings Corp.		797,200		10,639,344
Alpen Co. Ltd.^(c)		71,700		1,120,078
Alpha Systems Inc.		25,500		941,544
Alps Alpine Co. Ltd.		844,700		8,791,195
Amada Co. Ltd.		1,436,700		11,596,619
Amano Corp.		228,700		4,400,228
Amvis Holdings Inc.^(c)		54,900		1,935,954
AnGes Inc.^(a)(c)		633,000		1,761,803
Anicom Holdings Inc.		317,800		1,631,802
Anritsu Corp.		600,400		7,338,424
AOKI Holdings Inc.		112,600		554,347
Aozora Bank Ltd.		493,800		10,322,612
Appier Group Inc.^(a)(c)		235,400		1,548,223
Arata Corp.		53,900		1,666,201
Arcland Sakamoto Co. Ltd.		129,500		1,505,232
Arcland Service Holdings Co. Ltd.		61,600		985,350
Arcs Co. Ltd.		173,600		2,766,538
Argo Graphics Inc.		65,600		1,702,988
Ariake Japan Co. Ltd.		79,200		3,156,791
ARTERIA Networks Corp.		106,300		1,015,178
As One Corp.		124,200		5,892,926
Asahi Holdings Inc.		321,300		4,903,782
Asics Corp.		688,900		13,125,947
ASKUL Corp.		177,600		2,342,950
Atom Corp.^(a)		476,800		2,927,288
Autobacs Seven Co. Ltd.		280,400		2,955,844
Avex Inc.		142,900		1,638,167
Awa Bank Ltd. (The)		164,000		2,480,426
Axial Retailing Inc.^(c)		46,700		1,198,311
Bank of Kyoto Ltd. (The)		240,600		10,236,432
BayCurrent Consulting Inc.^(c)		56,400		17,645,555
Belc Co. Ltd.		41,000		1,695,491
Bell System24 Holdings Inc.		139,500		1,617,690
Belluna Co. Ltd.		228,000		1,332,604
Benefit One Inc.^(c)		336,000		5,457,445
Benesse Holdings Inc.		310,400		5,594,040
BeNext-Yumeshin Group Co.		246,531		2,958,418
Bengo4.com Inc.^(a)(c)		33,600		969,056
Bic Camera Inc.		395,500		3,438,767
BIPROGY Inc.		305,500		6,519,183
BML Inc.		94,100		2,783,103
Bunka Shutter Co. Ltd.		309,100		2,399,321
Bushiroad Inc.^(a)		62,400		716,566
C Uyemura & Co. Ltd.		46,900		2,186,204
C.I. Takiron Corp.		177,700		745,486
Calbee Inc.		374,100		8,028,155
Canon Electronics Inc.		47,400		593,315
Canon Marketing Japan Inc.		195,200		4,584,076
Casio Computer Co. Ltd.		836,600		8,183,580
Cawachi Ltd.		59,100		955,288
CellSource Co. Ltd.^(a)(c)		30,200		1,054,888
Central Glass Co. Ltd.		129,800		3,196,504
Change Inc.^(c)		154,000		2,332,688
Chiyoda Corp.^(a)		659,600		2,029,762
Chofu Seisakusho Co. Ltd.		37,300		521,289
Chudenko Corp.		77,000		1,236,530
Chugoku Bank Ltd. (The)		607,200		4,415,561
Chugoku Electric Power Co. Inc. (The)		1,163,600		7,603,278


Security	Shares		Value

Japan (continued)
Chugoku Marine Paints Ltd.		151,500	$	1,001,381
Citizen Watch Co. Ltd.		1,074,000		4,708,424
CKD Corp.		218,200		3,098,809
Coca-Cola Bottlers Japan Holdings Inc.		566,600		6,459,805
COLOPL Inc.		246,000		1,240,020
Colowide Co. Ltd.		314,700		4,615,449
Comforia Residential REIT Inc.		2,671		6,746,349
COMSYS Holdings Corp.		483,000		9,703,591
Comture Corp.		98,300		2,219,804
CONEXIO Corp.		38,500		382,172
Cosmo Energy Holdings Co. Ltd.		322,700		9,787,604
Cosmos Pharmaceutical Corp.		85,500		9,192,307
CRE Logistics REIT Inc.		2,340		3,580,926
Create Restaurants Holdings Inc.		502,100		3,824,010
Create SD Holdings Co. Ltd.		114,600		2,654,601
Credit Saison Co. Ltd.		628,200		8,021,821
Curves Holdings Co. Ltd.		224,200		1,220,231
CYBERDYNE Inc.^(a)(c)		450,400		1,189,039
Cybozu Inc.		104,400		902,139
Daicel Corp.		1,096,200		6,973,274
Daido Steel Co. Ltd.		108,200		3,229,383
Daihen Corp.		81,800		2,576,795
Daiho Corp.		27,500		883,718
Daiichikosho Co. Ltd.		159,000		4,510,054
Daiken Corp.		43,200		633,085
Daiki Aluminium Industry Co. Ltd.		102,000		950,992
Daikokutenbussan Co. Ltd.		24,000		985,376
Daio Paper Corp.		353,700		3,787,231
Daiseki Co. Ltd.		184,560		5,486,415
Daishi Hokuetsu Financial Group Inc.		144,900		2,796,189
Daiwa Industries Ltd.		129,600		1,103,954
Daiwa Office Investment Corp.		1,355		6,874,263
Daiwa Securities Living Investments Corp.		7,966		7,523,661
Daiwabo Holdings Co. Ltd.		348,300		5,000,060
DCM Holdings Co. Ltd.		502,600		3,933,195
Demae-Can Co. Ltd.^(a)(c)		150,600		723,163
DeNA Co. Ltd.^(c)		357,000		5,273,294
Denka Co. Ltd.		317,000		8,219,365
Descente Ltd.		116,000		2,474,811
Dexerials Corp.^(c)		232,000		6,262,425
DIC Corp.		316,900		5,860,566
Digital Arts Inc.		47,200		2,336,485
Digital Garage Inc.		140,500		4,082,364
Dip Corp.		151,600		4,072,293
Direct Marketing MiX Inc.		83,900		1,306,160
DMG Mori Co. Ltd.		482,800		6,484,105
Doshisha Co. Ltd.		96,100		1,141,922
Doutor Nichires Holdings Co. Ltd.		113,600		1,419,785
Dowa Holdings Co. Ltd.		223,600		8,109,235
DTS Corp.		161,100		4,092,383
Duskin Co. Ltd.		189,200		4,268,641
DyDo Group Holdings Inc.		36,100		1,379,045
Earth Corp.		65,700		2,636,964
Ebara Corp.		392,300		15,367,995
EDION Corp.		339,300		3,198,943
eGuarantee Inc.		145,000		2,544,766
Eiken Chemical Co. Ltd.		137,400		2,032,442
Eizo Corp.		61,200		1,711,768
Elan Corp.		138,600		1,228,174
Elecom Co. Ltd.^(c)		212,500		2,719,546


Security	Shares		Value

Japan (continued)
Electric Power Development Co. Ltd.		620,200	$	10,464,460
EM Systems Co. Ltd.		182,900		1,517,926
en Japan Inc.		141,400		2,222,254
eRex Co. Ltd.		128,700		2,328,351
ES-Con Japan Ltd.		142,600		903,445
Euglena Co. Ltd.^(a)(c)		406,800		2,858,317
Exedy Corp.		123,000		1,601,646
EXEO Group Inc.		435,900		7,303,897
Ezaki Glico Co. Ltd.		205,100		5,992,569
Fancl Corp.		334,600		6,377,670
FCC Co. Ltd.		145,800		1,552,449
Ferrotec Holdings Corp.		183,400		3,436,708
Financial Products Group Co. Ltd.		268,000		2,092,178
Food & Life Companies Ltd.		471,300		9,184,401
FP Corp.		196,800		4,430,942
Freee KK^(a)(c)		165,600		4,033,893
Frontier Real Estate Investment Corp.		2,044		8,331,240
Fuji Co. Ltd./Ehime		116,100		1,898,388
Fuji Corp./Aichi		314,100		4,867,647
Fuji Kyuko Co. Ltd.		94,400		2,896,863
Fuji Media Holdings Inc.		183,900		1,600,722
Fuji Oil Holdings Inc.		191,000		3,259,585
Fuji Seal International Inc.		184,500		2,137,882
Fuji Soft Inc.		106,800		6,499,198
Fujicco Co. Ltd.		43,200		626,346
Fujikura Ltd.		999,400		6,041,583
Fujimi Inc.		66,800		2,975,559
Fujimori Kogyo Co. Ltd.		57,000		1,522,285
Fujio Food Group Inc.		79,600		816,839
Fujitec Co. Ltd.		271,200		5,821,541
Fujitsu General Ltd.		250,800		5,347,441
Fujiya Co. Ltd.		33,400		600,368
Fukui Computer Holdings Inc.		46,900		1,239,788
Fukuoka Financial Group Inc.		724,900		12,848,642
Fukuoka REIT Corp.		2,703		3,507,666
Fukushima Galilei Co. Ltd.		44,100		1,212,526
Fukuyama Transporting Co. Ltd.		101,100		2,361,179
Fullcast Holdings Co. Ltd.		81,900		1,449,570
Funai Soken Holdings Inc.		162,060		2,856,929
Furukawa Co. Ltd.		171,000		1,589,353
Furukawa Electric Co. Ltd.		285,800		4,995,679
Fuso Chemical Co. Ltd.		73,500		1,884,138
Future Corp.		184,100		2,230,327
Fuyo General Lease Co. Ltd.		70,000		4,309,058
G-7 Holdings Inc.		86,300		964,056
Genky DrugStores Co. Ltd.		33,200		809,099
Geo Holdings Corp.^(c)		99,700		1,053,207
Giken Ltd.		73,000		1,812,844
Global One Real Estate Investment Corp.		4,206		3,471,787
GLOBERIDE Inc.		69,800		1,196,523
Glory Ltd.		204,900		3,402,310
GMO Financial Gate Inc.^(c)		7,500		800,979
GMO Financial Holdings Inc.		149,900		884,728
GMO GlobalSign Holdings KK		19,900		893,936
GMO internet Inc.		284,600		5,590,215
GNI Group Ltd.^(a)(c)		185,397		2,612,142
Goldcrest Co. Ltd.		66,400		903,122
Goldwin Inc.		100,800		6,289,009
Gree Inc.		276,500		1,762,997
GS Yuasa Corp.		272,700		4,978,982


Security	Shares		Value

Japan (continued)
G-Tekt Corp.		50,700	$	510,727
GungHo Online Entertainment Inc.^(c)		191,630		3,739,127
Gunma Bank Ltd. (The)		1,399,700		4,016,243
Gunze Ltd.		68,600		1,999,108
H.U. Group Holdings Inc.		221,200		5,301,033
H2O Retailing Corp.		338,000		2,541,908
Hachijuni Bank Ltd. (The)		1,468,900		5,468,481
Halows Co. Ltd.		28,500		671,393
Hamakyorex Co. Ltd.		42,800		1,027,333
Hankyu Hanshin REIT Inc.		2,490		2,870,559
Hanwa Co. Ltd.		144,300		3,155,954
Harmonic Drive Systems Inc.		204,300		7,789,312
Haseko Corp.		1,031,300		12,555,471
Hazama Ando Corp.		674,700		4,541,916
Heiwa Corp.		227,100		3,545,057
Heiwa Real Estate Co. Ltd.		135,700		4,085,515
Heiwa Real Estate REIT Inc.		3,734		4,179,817
Heiwado Co. Ltd.		120,600		1,814,005
Hiday Hidaka Corp.		107,900		1,751,486
Hino Motors Ltd.		1,230,900		6,397,249
Hioki E.E. Corp.		39,300		1,975,417
Hirata Corp.		39,300		1,409,042
Hirogin Holdings Inc.		1,028,500		4,751,890
HIS Co. Ltd.^(a)(c)		220,200		3,340,919
Hisamitsu Pharmaceutical Co. Inc.		200,400		5,226,535
Hitachi Transport System Ltd.		178,800		11,645,811
Hitachi Zosen Corp.		676,500		4,233,592
Hogy Medical Co. Ltd.		109,800		2,894,731
Hokkaido Electric Power Co. Inc.		730,800		2,807,022
Hokkoku Financial Holdings Inc.		101,800		3,544,287
Hokuetsu Corp.		509,500		2,686,597
Hokuhoku Financial Group Inc.		501,100		3,238,024
Hokuriku Electric Power Co.		704,600		2,871,344
Hokuto Corp.		88,700		1,287,109
Horiba Ltd.		145,600		7,176,783
Hoshino Resorts REIT Inc.		970		4,751,083
Hosiden Corp.		193,900		2,158,672
House Foods Group Inc.		266,600		5,732,295
Hulic Reit Inc.		5,473		6,852,265
Hyakugo Bank Ltd. (The)		1,155,700		2,838,112
Ichibanya Co. Ltd.		58,700		2,094,833
Ichigo Inc.		1,029,300		2,324,759
Ichigo Office REIT Investment Corp.		5,037		3,239,131
Idec Corp./Japan		120,000		2,677,786
IDOM Inc.		234,300		1,424,240
IHI Corp.		592,600		15,625,500
Iino Kaiun Kaisha Ltd.		352,900		1,882,183
Inaba Denki Sangyo Co. Ltd.		203,100		4,234,685
Inabata & Co. Ltd.		178,800		3,244,791
Inageya Co. Ltd.		99,000		947,230
Industrial & Infrastructure Fund Investment Corp.		8,318		11,565,464
Infocom Corp.		102,100		1,640,866
Infomart Corp.		856,700		3,023,949
Information Services International-Dentsu Ltd.		109,500		3,682,060
INFRONEER Holdings Inc.		1,107,128		8,126,914
Insource Co. Ltd.		96,700		2,046,181
Internet Initiative Japan Inc.		218,500		8,871,931
Invincible Investment Corp.		25,933		8,158,065
IR Japan Holdings Ltd.^(c)		41,800		703,734
Iriso Electronics Co. Ltd.		83,100		1,870,396


Security	Shares		Value

Japan (continued)
Isetan Mitsukoshi Holdings Ltd.		1,428,400	$	11,435,831
Itochu Enex Co. Ltd.		196,400		1,580,991
Itochu-Shokuhin Co. Ltd.		23,200		870,404
Itoham Yonekyu Holdings Inc.		634,400		3,179,344
Iwatani Corp.		185,000		7,754,595
Iyo Bank Ltd. (The)		931,400		4,518,524
Izumi Co. Ltd.		140,800		3,300,359
J Front Retailing Co. Ltd.		1,030,300		8,673,594
JAC Recruitment Co. Ltd.		69,200		1,021,469
Jaccs Co. Ltd.		97,200		2,780,021
JAFCO Group Co. Ltd.		308,700		4,198,231
Japan Airport Terminal Co. Ltd.^(a)		255,200		10,003,447
Japan Aviation Electronics Industry Ltd.		196,700		3,359,931
Japan Display Inc.^(a)		2,544,500		1,221,957
Japan Elevator Service Holdings Co. Ltd.		262,400		3,140,297
Japan Excellent Inc.		5,068		4,821,328
Japan Hotel REIT Investment Corp.		18,774		9,742,862
Japan Lifeline Co. Ltd.		246,300		1,837,673
Japan Logistics Fund Inc.		3,493		8,393,929
Japan Material Co. Ltd.		284,900		4,227,301
Japan Petroleum Exploration Co. Ltd.		132,000		3,482,995
Japan Prime Realty Investment Corp.		3,541		10,813,111
Japan Pulp & Paper Co. Ltd.		45,100		1,410,854
Japan Securities Finance Co. Ltd.		380,900		2,362,944
Japan Steel Works Ltd. (The)		254,200		5,888,709
Japan Wool Textile Co. Ltd. (The)		148,300		1,156,516
JCR Pharmaceuticals Co. Ltd.		274,600		5,101,799
JCU Corp.		80,900		2,168,993
JDC Corp.		162,300		742,445
Jeol Ltd.		187,300		8,515,632
JGC Holdings Corp.		940,500		11,566,651
JINS Holdings Inc.^(c)		60,000		1,718,062
JMDC Inc.^(c)		109,400		5,443,928
J-Oil Mills Inc.		34,100		414,941
Joshin Denki Co. Ltd.		57,700		869,502
Joyful Honda Co. Ltd.		213,100		2,521,273
JTEKT Corp.		867,700		6,433,934
JTOWER Inc.^(a)(c)		37,600		1,868,987
Juroku Financial Group Inc.		157,400		2,954,369
Justsystems Corp.		152,200		4,698,910
Kadokawa Corp.		390,234		9,476,533
Kaga Electronics Co. Ltd.		61,900		1,508,283
Kagome Co. Ltd.		323,800		7,658,740
Kaken Pharmaceutical Co. Ltd.		124,900		3,646,775
Kameda Seika Co. Ltd.		51,600		1,831,246
Kamigumi Co. Ltd.		441,200		8,971,542
Kanamoto Co. Ltd.		121,300		1,867,647
Kandenko Co. Ltd.		423,700		2,630,404
Kaneka Corp.		198,500		5,378,376
Kanematsu Corp.		311,700		3,249,249
Kanematsu Electronics Ltd.		30,900		970,561
Kansai Paint Co. Ltd.		748,300		10,760,651
Kanto Denka Kogyo Co. Ltd.		161,900		1,110,383
Kappa Create Co. Ltd.^(a)(c)		112,900		1,251,558
Katakura Industries Co. Ltd.^(c)		69,000		1,059,072
Katitas Co. Ltd.		219,200		5,518,409
Kato Sangyo Co. Ltd.		77,700		1,925,207
Kawasaki Heavy Industries Ltd.		644,600		12,660,280
Kawasaki Kisen Kaisha Ltd.		221,500		16,333,317
KeePer Technical Laboratory Co. Ltd.		54,000		1,450,583


Security	Shares		Value

Japan (continued)
Keihan Holdings Co. Ltd.		412,900	$	10,301,877
Keihanshin Building Co. Ltd.		122,000		1,200,366
Keikyu Corp.		938,300		10,421,406
Keiyo Bank Ltd. (The)		679,300		2,423,146
Keiyo Co. Ltd.		118,000		874,619
Kenedix Office Investment Corp.		1,792		9,632,180
Kenedix Residential Next Investment Corp.		4,222		7,097,590
Kenedix Retail REIT Corp.		2,452		5,256,520
Kewpie Corp.		395,600		6,872,012
KFC Holdings Japan Ltd.		60,900		1,346,147
KH Neochem Co. Ltd.		141,300		2,698,278
Kinden Corp.		543,800		6,420,262
Kintetsu Department Store Co. Ltd.^(a)(c)		29,700		520,057
Kisoji Co. Ltd.^(c)		91,400		1,564,547
Kissei Pharmaceutical Co. Ltd.		105,400		2,234,609
Ki-Star Real Estate Co. Ltd.		37,800		1,383,277
Kitz Corp.		246,500		1,301,833
Kiyo Bank Ltd. (The)		242,500		2,663,479
Koa Corp.		129,600		2,088,831
Kobe Steel Ltd.		1,434,100		6,666,919
Kohnan Shoji Co. Ltd.		100,900		2,829,418
Kokuyo Co. Ltd.		351,300		4,684,305
KOMEDA Holdings Co. Ltd.		201,100		3,446,680
Komeri Co. Ltd.		125,900		2,533,195
Konica Minolta Inc.		1,913,100		6,785,557
Konishi Co. Ltd.		182,300		2,228,640
Konoike Transport Co. Ltd.		89,700		870,742
Koshidaka Holdings Co. Ltd.		188,900		1,061,926
Kotobuki Spirits Co. Ltd.^(c)		78,500		4,290,874
K’s Holdings Corp.		674,140		6,807,234
Kumagai Gumi Co. Ltd.		148,800		3,165,960
Kumiai Chemical Industry Co. Ltd.		312,500		2,337,533
Kura Sushi Inc.^(c)		88,500		2,148,330
Kuraray Co. Ltd.		1,357,800		10,928,993
Kureha Corp.		65,800		5,004,347
Kusuri no Aoki Holdings Co. Ltd.		67,600		2,812,672
KYB Corp.		68,500		1,592,852
Kyoei Steel Ltd.		85,500		948,099
Kyokuto Kaihatsu Kogyo Co. Ltd.		100,100		1,093,214
KYORIN Holdings Inc.		151,500		2,058,065
Kyoritsu Maintenance Co. Ltd.		124,100		4,779,977
Kyudenko Corp.		177,300		3,859,198
Kyushu Electric Power Co. Inc.		1,709,300		11,172,910
Kyushu Financial Group Inc.		1,435,800		4,243,377
Kyushu Railway Co.		575,000		12,055,291
LaSalle Logiport REIT		7,568		9,974,042
Lawson Inc.		194,400		6,893,709
Leopalace21 Corp.^(a)		703,700		1,475,449
Life Corp.		73,000		1,415,018
Link And Motivation Inc.		172,800		756,467
Lintec Corp.		159,400		2,802,345
Lion Corp.		998,400		11,495,004
LITALICO Inc.		81,100		1,537,580
M&A Capital Partners Co. Ltd.^(a)		60,700		1,701,220
Mabuchi Motor Co. Ltd.		200,100		5,734,925
Macnica Holdings Inc.		202,750		4,138,330
Maeda Kosen Co. Ltd.		79,600		1,859,912
Makino Milling Machine Co. Ltd.		99,200		3,377,265
Management Solutions Co. Ltd.^(a)(c)		43,400		1,011,249
Mandom Corp.		157,800		1,926,514


Security	Shares		Value

Japan (continued)
Mani Inc.		315,600	$	3,737,203
Maruha Nichiro Corp.		181,400		3,385,126
Marui Group Co. Ltd.		754,600		13,774,527
Maruichi Steel Tube Ltd.		244,900		5,420,667
MARUKA FURUSATO Corp.^(c)		80,900		1,760,680
Maruwa Co. Ltd./Aichi		38,300		4,921,797
Maruwa Unyu Kikan Co. Ltd.		169,200		1,942,034
Maruzen Showa Unyu Co. Ltd.		39,900		983,224
Matsuda Sangyo Co. Ltd.^(c)		51,100		778,467
Matsui Securities Co. Ltd.		495,300		2,993,309
MatsukiyoCocokara & Co.		458,140		17,297,400
Matsuyafoods Holdings Co. Ltd.		38,400		1,170,398
Max Co. Ltd.		100,400		1,284,747
Maxell Ltd.		195,500		2,044,872
Maxvalu Tokai Co. Ltd.		43,100		876,667
MCJ Co. Ltd.^(c)		269,700		1,913,190
Mebuki Financial Group Inc.		4,089,300		8,250,329
Medipal Holdings Corp.		782,100		11,799,858
Medley Inc.^(a)(c)		89,000		2,217,648
MedPeer Inc.^(a)(c)		54,300		899,099
Megachips Corp.		59,000		1,478,090
Megmilk Snow Brand Co. Ltd.		202,300		2,816,632
Meidensha Corp.		136,000		2,104,937
Meiko Electronics Co. Ltd.		85,300		2,056,309
Meitec Corp.		314,100		5,921,268
Melco Holdings Inc.		24,000		643,355
Menicon Co. Ltd.		256,800		6,475,491
Mercari Inc.^(a)(c)		445,900		7,688,617
METAWATER Co. Ltd.		105,200		1,572,552
Micronics Japan Co. Ltd.		126,100		1,211,126
Midac Holdings Co. Ltd.		37,200		825,088
Mie Kotsu Group Holdings Inc.		71,800		261,180
Milbon Co. Ltd.		112,400		4,533,107
Mimasu Semiconductor Industry Co. Ltd.^(c)		74,000		1,186,649
Mirai Corp.		6,894		2,621,866
MIRAIT One Corp.		403,700		5,042,308
Mitani Sekisan Co. Ltd.		47,500		1,409,440
Mitsubishi Estate Logistics REIT Investment Corp.		1,791		6,420,932
Mitsubishi Gas Chemical Co. Inc.		669,500		9,731,604
Mitsubishi Logisnext Co. Ltd.		121,400		807,962
Mitsubishi Logistics Corp.		221,000		5,929,913
Mitsubishi Materials Corp.		497,100		7,520,772
Mitsubishi Motors Corp.^(a)		2,860,600		9,967,176
Mitsubishi Pencil Co. Ltd.		126,100		1,343,573
Mitsubishi Research Institute Inc.		33,700		1,113,357
Mitsubishi Shokuhin Co. Ltd.		55,400		1,440,556
Mitsuboshi Belting Ltd.		91,100		2,210,765
Mitsui DM Sugar Holdings Co. Ltd.		25,200		359,638
Mitsui Fudosan Logistics Park Inc.		2,324		9,127,584
Mitsui High-Tec Inc.		84,700		5,689,446
Mitsui Mining & Smelting Co. Ltd.		227,400		5,445,859
Mitsui-Soko Holdings Co. Ltd.		75,600		1,763,156
Mitsuuroko Group Holdings Co. Ltd.		118,300		845,417
Miura Co. Ltd.		369,800		8,915,352
Mixi Inc.		162,800		2,865,834
Mizuho Leasing Co. Ltd.		113,200		2,818,264
Mizuno Corp.		126,400		2,373,655
Mochida Pharmaceutical Co. Ltd.		92,000		2,258,594
Modec Inc.		87,500		815,500
Monex Group Inc.		761,370		2,686,397


Security	Shares		Value

Japan (continued)
Money Forward Inc.^(a)(c)		182,900	$	4,742,090
Monogatari Corp. (The)		42,700		1,880,534
Mori Hills REIT Investment Corp.		6,451		7,413,647
Mori Trust Hotel Reit Inc.		1,197		1,151,547
Mori Trust Sogo REIT Inc.		4,186		4,628,044
Morinaga & Co. Ltd./Japan		160,000		5,028,388
Morinaga Milk Industry Co. Ltd.		158,200		5,833,289
Morita Holdings Corp.		82,100		832,071
MOS Food Services Inc.		120,100		3,088,749
Musashi Seimitsu Industry Co. Ltd.		192,500		2,070,621
Musashino Bank Ltd. (The)		150,600		2,005,054
Nabtesco Corp.		460,000		11,024,429
Nachi-Fujikoshi Corp.		59,100		1,646,355
Nafco Co. Ltd.		71,800		863,382
Nagaileben Co. Ltd.		60,500		921,956
Nagase & Co. Ltd.		424,500		6,385,158
Nagawa Co. Ltd.^(c)		33,300		2,059,939
Nagoya Railroad Co. Ltd.		798,800		12,876,708
Nakanishi Inc.		302,600		5,694,958
Nankai Electric Railway Co. Ltd.		435,200		8,597,534
Nanto Bank Ltd. (The)		131,000		1,994,030
NEC Networks & System Integration Corp.		291,300		4,020,899
NET One Systems Co. Ltd.		344,300		8,018,587
Nextage Co. Ltd.		189,300		4,187,140
NGK Spark Plug Co. Ltd.		655,000		12,826,501
NH Foods Ltd.		354,600		10,743,201
NHK Spring Co. Ltd.		826,400		5,631,698
Nichias Corp.		230,400		4,111,447
Nichicon Corp.^(c)		183,500		1,760,476
Nichiden Corp.		23,000		342,095
Nichiha Corp.		108,700		2,245,614
Nichi-Iko Pharmaceutical Co. Ltd.^(a)(c)		218,100		589,375
Nichirei Corp.		466,000		8,315,022
Nifco Inc./Japan		340,600		8,265,774
Nihon Kohden Corp.		345,200		7,723,566
Nihon Parkerizing Co. Ltd.		437,800		3,154,332
Nikkiso Co. Ltd.		198,700		1,233,635
Nikkon Holdings Co. Ltd.		252,900		4,650,911
Nikon Corp.		1,288,900		14,843,677
Nippn Corp., New		183,900		2,217,652
Nippon Accommodations Fund Inc.		2,131		11,135,221
Nippon Carbon Co. Ltd.		39,300		1,207,497
Nippon Ceramic Co. Ltd.		79,100		1,244,561
Nippon Densetsu Kogyo Co. Ltd.		107,700		1,467,803
Nippon Electric Glass Co. Ltd.^(c)		357,700		7,121,763
Nippon Gas Co. Ltd.		452,500		6,794,054
Nippon Kanzai Co. Ltd.		78,000		1,586,563
Nippon Kayaku Co. Ltd.		542,800		4,569,251
Nippon Light Metal Holdings Co. Ltd.		232,090		2,775,646
Nippon Paper Industries Co. Ltd.		427,700		3,101,740
Nippon Parking Development Co. Ltd.		1,382,600		1,757,806
NIPPON REIT Investment Corp.		1,888		5,320,412
Nippon Road Co. Ltd. (The)^(c)		17,600		896,164
Nippon Seiki Co. Ltd.		195,300		1,253,602
Nippon Shokubai Co. Ltd.		119,800		4,689,102
Nippon Signal Company Ltd.		186,800		1,379,079
Nippon Soda Co. Ltd.		90,200		2,851,674
Nippon Steel Trading Corp.		63,500		2,468,689
Nippon Suisan Kaisha Ltd.		1,172,700		5,279,533
Nippon Television Holdings Inc.		213,800		1,991,412


Security	Shares		Value

Japan (continued)
Nipro Corp.		620,500	$	5,441,579
Nishimatsu Construction Co. Ltd.		142,500		4,268,294
Nishimatsuya Chain Co. Ltd.		162,400		2,004,844
Nishi-Nippon Financial Holdings Inc.		507,300		2,830,365
Nishi-Nippon Railroad Co. Ltd.		255,900		5,647,405
Nishio Rent All Co. Ltd.		101,300		2,190,384
Nissan Shatai Co. Ltd.		336,400		1,648,367
Nissha Co. Ltd.		169,700		1,997,920
Nisshin Oillio Group Ltd. (The)		126,700		3,085,389
Nisshinbo Holdings Inc.		561,000		4,468,530
Nissin Electric Co. Ltd.		214,300		2,462,419
Nitta Corp.		64,900		1,427,880
Nittetsu Mining Co. Ltd.		22,700		922,342
Nitto Boseki Co. Ltd.		102,100		1,857,510
Nitto Kogyo Corp.		119,200		2,321,223
Noevir Holdings Co. Ltd.		68,200		3,029,220
NOF Corp.		281,600		11,142,070
Nohmi Bosai Ltd.		86,900		1,206,658
Nojima Corp.		133,000		2,917,365
NOK Corp.		362,700		3,256,883
Nomura Co. Ltd.		333,200		2,211,534
Noritake Co. Ltd./Nagoya Japan		33,800		1,081,769
Noritsu Koki Co. Ltd.		78,500		1,406,080
Noritz Corp.		106,900		1,197,390
North Pacific Bank Ltd.		1,214,100		2,088,909
NS Solutions Corp.		140,800		4,143,047
NS United Kaiun Kaisha Ltd.		41,700		1,255,411
NSD Co. Ltd.		274,280		5,152,216
NSK Ltd.		1,657,300		9,281,045
NTN Corp.^(a)		1,678,900		3,116,432
NTT UD REIT Investment Corp.		5,928		6,791,641
Obara Group Inc.		50,700		1,144,334
OBIC Business Consultants Co. Ltd.		130,600		4,455,390
Ogaki Kyoritsu Bank Ltd. (The)		161,800		2,119,860
Ohsho Food Service Corp.		45,300		2,373,693
Oiles Corp.		41,300		496,451
Oisix ra daichi Inc.^(a)(c)		118,800		1,596,887
Okamoto Industries Inc.		33,100		982,242
Okamura Corp.		232,200		2,317,352
Okasan Securities Group Inc.		708,600		1,810,666
Oki Electric Industry Co. Ltd.		360,400		2,082,274
Okinawa Cellular Telephone Co.		50,000		2,035,715
Okinawa Electric Power Co. Inc. (The)		190,977		1,936,840
Okinawa Financial Group Inc.		76,600		1,285,758
OKUMA Corp.		100,600		3,952,728
Okumura Corp.		125,000		2,778,790
One REIT Inc.		962		1,999,744
Open Door Inc.^(a)(c)		54,300		712,528
Optex Group Co. Ltd.		140,100		2,180,002
Optorun Co. Ltd.^(c)		132,200		1,875,898
Organo Corp.		28,300		1,980,014
Orient Corp.		2,011,400		2,044,686
Orix JREIT Inc.		11,145		15,989,351
Osaka Organic Chemical Industry Ltd.		63,800		1,198,871
Osaka Soda Co. Ltd.		57,200		1,461,903
OSG Corp.		353,300		4,848,906
Outsourcing Inc.		479,800		4,316,139
Pacific Industrial Co. Ltd.		150,300		1,159,948
Pacific Metals Co. Ltd.		70,000		1,307,789
PAL GROUP Holdings Co. Ltd.		87,200		1,491,290


Security	Shares		Value

Japan (continued)
Paltac Corp.		133,300	$	4,178,758
Paramount Bed Holdings Co. Ltd.		166,500		3,086,537
Park24 Co. Ltd.^(a)		549,300		7,718,603
Pasona Group Inc.^(c)		89,200		1,371,681
Penta-Ocean Construction Co. Ltd.		1,155,000		6,348,415
PeptiDream Inc.^(a)		419,000		5,246,755
Pharma Foods International Co. Ltd.^(c)		91,100		1,008,005
PHC Holdings Corp.		116,400		1,427,784
Pigeon Corp.^(c)		496,000		7,225,687
Pilot Corp.		123,800		4,731,613
Piolax Inc.		106,300		1,589,437
PKSHA Technology Inc.^(a)		73,300		1,262,406
Plaid Inc.^(a)(c)		71,700		203,621
Plenus Co. Ltd.		92,500		1,383,501
Plus Alpha Consulting Co. Ltd.^(c)		50,400		1,020,880
Pola Orbis Holdings Inc.		403,100		4,941,015
Pressance Corp.		94,000		1,108,961
Prestige International Inc.		415,000		2,160,011
Prima Meat Packers Ltd.		106,900		1,821,852
Raito Kogyo Co. Ltd.		187,300		2,763,165
Raiznext Corp.		199,200		1,832,466
Raksul Inc.^(a)		103,200		1,713,416
Rakus Co. Ltd.^(c)		389,400		5,508,863
Relia Inc.		190,200		1,586,459
Relo Group Inc.		449,600		7,465,599
Rengo Co. Ltd.		809,000		4,731,152
RENOVA Inc.^(a)(c)		155,500		2,940,087
Resorttrust Inc.		345,600		5,681,835
Restar Holdings Corp.		77,800		1,139,011
Retail Partners Co. Ltd.^(c)		92,100		842,596
Ricoh Leasing Co. Ltd.		60,800		1,633,861
Riken Keiki Co. Ltd.^(c)		57,300		1,786,843
Riken Vitamin Co. Ltd.		76,600		994,750
Ringer Hut Co. Ltd.		144,300		2,529,858
Rinnai Corp.		160,800		12,225,374
Riso Kagaku Corp.		89,300		1,635,617
Riso Kyoiku Co. Ltd.		470,600		1,102,529
Rohto Pharmaceutical Co. Ltd.		400,200		11,995,504
Roland Corp.		56,700		1,837,532
Rorze Corp.		45,200		2,908,318
Round One Corp.		287,900		3,244,723
Royal Holdings Co. Ltd.		117,700		1,907,988
RS Technologies Co. Ltd.		34,800		1,636,686
Ryohin Keikaku Co. Ltd.		1,078,900		10,708,904
Ryosan Co. Ltd.		97,600		1,644,000
Ryoyo Electro Corp.		58,300		981,563
S Foods Inc.		81,400		1,870,427
Saibu Gas Holdings Co. Ltd.		86,800		1,206,359
Saizeriya Co. Ltd.		120,700		2,453,720
Sakai Moving Service Co. Ltd.		40,300		1,497,559
Sakata INX Corp.		110,600		821,399
Sakata Seed Corp.		125,500		4,562,156
SAMTY Co. Ltd.		89,800		1,391,790
Samty Residential Investment Corp.		1,311		1,250,519
San-A Co. Ltd.		77,100		2,422,343
San-Ai Obbli Co. Ltd.		234,000		1,883,463
SanBio Co. Ltd.^(a)(c)		153,900		1,240,531
Sangetsu Corp.		197,800		2,382,992
San-in Godo Bank Ltd. (The)		596,200		3,029,542
Sanken Electric Co. Ltd.		97,500		3,758,646


Security	Shares		Value

Japan (continued)
Sanki Engineering Co. Ltd.		213,800	$	2,664,242
Sankyo Co. Ltd.		175,600		5,522,720
Sankyu Inc.		225,500		7,477,758
Sanrio Co. Ltd.		225,500		5,198,644
Sansan Inc.^(a)(c)		298,700		3,004,051
Santen Pharmaceutical Co. Ltd.		1,535,200		12,435,345
Sanwa Holdings Corp.		782,100		8,448,736
Sanyo Chemical Industries Ltd.		49,000		1,770,387
Sanyo Denki Co. Ltd.		36,000		1,495,174
Sanyo Special Steel Co. Ltd.		88,400		1,349,072
Sapporo Holdings Ltd.		262,600		5,880,182
Sato Holdings Corp.		106,600		1,595,603
Sawai Group Holdings Co. Ltd.		157,500		5,109,315
SB Technology Corp.		40,500		788,309
SBS Holdings Inc.		78,300		1,643,836
SCREEN Holdings Co. Ltd.		162,100		11,731,053
Sega Sammy Holdings Inc.		733,200		12,591,479
Seibu Holdings Inc.		967,400		9,778,978
Seiko Holdings Corp.^(c)		113,700		2,509,806
Seino Holdings Co. Ltd.		533,400		4,424,292
Seiren Co. Ltd.		183,400		2,801,349
Sekisui House Reit Inc.		17,802		11,150,916
Sekisui Jushi Corp.		77,000		1,006,297
Senko Group Holdings Co. Ltd.		430,100		2,977,144
Septeni Holdings Co. Ltd.^(c)		277,900		1,134,218
Seria Co. Ltd.		197,800		3,939,954
Seven Bank Ltd.		2,379,500		4,721,943
Shibaura Machine Co. Ltd.		89,100		1,907,214
Shibuya Corp.		79,000		1,479,204
SHIFT Inc.^(a)		52,800		8,298,266
Shiga Bank Ltd. (The)		166,200		3,383,242
Shikoku Chemicals Corp.		89,200		844,665
Shikoku Electric Power Co. Inc.		669,700		3,956,357
Shima Seiki Manufacturing Ltd.		112,900		1,892,365
Shimamura Co. Ltd.		94,600		9,071,523
Shin-Etsu Polymer Co. Ltd.		189,200		1,961,086
Shinko Electric Industries Co. Ltd.		288,900		7,440,230
Shinmaywa Industries Ltd.		226,900		1,815,676
Shinsei Bank Ltd.		276,500		4,182,418
Ship Healthcare Holdings Inc.		321,900		6,151,831
Shizuoka Gas Co. Ltd.		164,800		1,169,353
SHO-BOND Holdings Co. Ltd.		168,600		7,459,622
Shochiku Co. Ltd.^(a)		39,400		3,791,223
Shoei Co. Ltd.		101,800		4,371,677
Shoei Foods Corp.		38,300		1,137,975
Showa Denko KK		750,000		12,577,906
Showa Sangyo Co. Ltd.		42,700		812,734
Siix Corp.		114,400		834,334
Simplex Holdings Inc.		105,000		1,567,716
SKY Perfect JSAT Holdings Inc.		682,300		2,858,587
Skylark Holdings Co. Ltd.^(a)(c)		974,400		11,626,078
SMS Co. Ltd.		296,900		7,137,370
Snow Peak Inc.^(c)		116,100		2,331,864
Sohgo Security Services Co. Ltd.		327,500		9,177,833
Sojitz Corp.		1,005,320		15,277,424
Solasto Corp.		223,600		1,435,580
Sosei Group Corp.^(a)		313,100		3,380,164
SOSiLA Logistics REIT Inc.		2,622		3,028,082
Sotetsu Holdings Inc.		331,700		5,864,699
SPARX Group Co. Ltd.		701,000		1,590,114


Security	Shares		Value

Japan (continued)
S-Pool Inc.		294,300	$	2,436,492
SRE Holdings Corp.^(a)(c)		42,900		889,168
Stanley Electric Co. Ltd.		559,300		9,828,205
Star Asia Investment Corp.		6,714		2,995,748
Star Micronics Co. Ltd.		158,900		2,059,092
Starts Corp. Inc.		126,500		2,745,803
Starts Proceed Investment Corp.		963		1,864,469
Strike Co. Ltd.		34,900		1,024,936
Sugi Holdings Co. Ltd.		149,000		6,721,975
Sumitomo Bakelite Co. Ltd.		145,600		4,712,533
Sumitomo Densetsu Co. Ltd.		76,400		1,533,316
Sumitomo Forestry Co. Ltd.		607,400		9,430,806
Sumitomo Heavy Industries Ltd.		467,300		10,691,751
Sumitomo Mitsui Construction Co. Ltd.		586,380		1,992,964
Sumitomo Osaka Cement Co. Ltd.		142,800		3,773,245
Sumitomo Pharma Co., Ltd.		769,000		6,022,397
Sumitomo Riko Co. Ltd.		126,600		589,316
Sumitomo Rubber Industries Ltd.		731,300		6,593,678
Sumitomo Warehouse Co. Ltd. (The)		266,600		4,207,470
Sun Frontier Fudousan Co. Ltd.		122,200		1,024,420
Sundrug Co. Ltd.		308,700		7,241,239
Suruga Bank Ltd.^(c)		677,600		1,899,171
Suzuken Co. Ltd.		284,000		7,849,459
Systena Corp.		1,144,500		3,924,809
T Hasegawa Co. Ltd.		126,800		2,907,398
Tadano Ltd.		413,700		3,006,453
Taihei Dengyo Kaisha Ltd.		46,600		1,067,006
Taiheiyo Cement Corp.		494,000		7,411,513
Taikisha Ltd.		97,300		2,408,396
Taisho Pharmaceutical Holdings Co. Ltd.		163,900		6,526,146
Taiyo Holdings Co. Ltd.		146,600		3,161,494
Taiyo Yuden Co. Ltd.		498,900		17,730,924
Takamatsu Construction Group Co. Ltd.		32,600		521,140
Takara Bio Inc.		208,700		3,372,810
Takara Holdings Inc.		593,500		4,801,407
Takara Leben Real Estate Investment Corp.		2,356		2,050,962
Takara Standard Co. Ltd.		101,400		1,015,330
Takasago International Corp.^(c)		25,100		486,862
Takasago Thermal Engineering Co. Ltd.		196,500		2,499,318
Takashimaya Co. Ltd.		598,800		6,432,764
Takeuchi Manufacturing Co. Ltd.		148,100		2,862,024
Takuma Co. Ltd.		262,100		2,772,940
Tama Home Co. Ltd.		66,400		1,235,034
Tamron Co. Ltd.		62,300		1,346,599
TBS Holdings Inc.		141,100		1,806,914
TechMatrix Corp.		163,800		2,280,423
TechnoPro Holdings Inc.		461,100		10,715,385
Teijin Ltd.		748,600		7,932,118
Tenma Corp.		46,900		820,264
T-Gaia Corp.		87,800		1,077,912
THK Co. Ltd.		494,800		10,497,448
TKC Corp.		114,500		3,008,581
TKP Corp.^(a)		72,000		1,307,932
Toa Corp./Tokyo		52,800		1,030,671
Toagosei Co. Ltd.		430,200		3,340,086
TOC Co. Ltd.		334,100		1,994,706
Tocalo Co. Ltd.		233,600		2,246,250
Toda Corp.		903,800		4,847,844
Toei Animation Co. Ltd.		35,900		2,976,005
Toei Co. Ltd.		25,700		3,686,404


Security	Shares		Value

Japan (continued)
Toenec Corp.		13,500	$	378,857
Toho Bank Ltd. (The)		821,300		1,321,708
Toho Gas Co. Ltd.		314,600		7,573,623
Toho Holdings Co. Ltd.		232,900		3,566,584
Toho Titanium Co. Ltd.		136,300		2,297,035
Tohoku Electric Power Co. Inc.		1,943,200		10,758,662
Tokai Carbon Co. Ltd.		864,400		6,988,387
Tokai Corp./Gifu		47,200		632,398
TOKAI Holdings Corp.		384,800		2,566,399
Tokai Rika Co. Ltd.		221,700		2,439,891
Tokai Tokyo Financial Holdings Inc.		800,100		2,265,906
Token Corp.		28,300		1,889,991
Tokushu Tokai Paper Co. Ltd.		36,000		857,378
Tokuyama Corp.		258,800		3,498,813
Tokyo Century Corp.		155,600		5,502,808
Tokyo Ohka Kogyo Co. Ltd.		137,000		7,103,453
Tokyo Seimitsu Co. Ltd.		158,600		5,510,080
Tokyo Steel Manufacturing Co. Ltd.		267,000		2,746,481
Tokyo Tatemono Co. Ltd.		800,200		11,784,761
Tokyotokeiba Co. Ltd.		59,500		1,843,053
Tokyu Construction Co. Ltd.		350,240		1,661,304
Tokyu Fudosan Holdings Corp.		2,596,700		14,071,383
Tokyu REIT Inc.		3,709		5,422,449
TOMONY Holdings Inc.		1,025,300		2,426,486
Tomy Co. Ltd.		337,700		3,742,400
Topcon Corp.		440,500		6,225,914
Topre Corp.		153,800		1,191,507
Toridoll Holdings Corp.		189,800		3,686,979
Torii Pharmaceutical Co. Ltd.		46,000		1,139,021
Tosei Corp.		132,700		1,274,412
Toshiba TEC Corp.		109,100		3,601,721
Tosho Co. Ltd.^(c)		63,600		661,168
Totetsu Kogyo Co. Ltd.		118,400		2,118,957
Towa Pharmaceutical Co. Ltd.		104,700		1,991,973
Toyo Construction Co. Ltd.		289,600		1,889,162
Toyo Gosei Co. Ltd.		20,100		1,235,692
Toyo Ink SC Holdings Co. Ltd.		152,900		2,228,499
Toyo Seikan Group Holdings Ltd.		557,100		6,415,338
Toyo Suisan Kaisha Ltd.		377,900		16,056,167
Toyo Tanso Co. Ltd.		59,700		1,358,755
Toyo Tire Corp.		459,500		6,175,722
Toyobo Co. Ltd.^(c)		330,900		2,571,919
Toyoda Gosei Co. Ltd.		285,200		4,500,796
Toyota Boshoku Corp.		315,400		4,663,939
Trancom Co. Ltd.		29,700		1,641,448
Transcosmos Inc.		103,500		2,936,566
TRE Holdings Corp.		195,000		2,283,399
Tri Chemical Laboratories Inc.		104,200		1,774,626
Trusco Nakayama Corp.		192,900		2,745,226
TS Tech Co. Ltd.		377,500		4,304,597
Tsubakimoto Chain Co.		109,200		2,599,119
Tsugami Corp.		165,500		1,522,911
Tsumura & Co.		241,100		5,656,888
Tsuruha Holdings Inc.		168,900		9,622,818
TV Asahi Holdings Corp.		89,600		1,006,445
UACJ Corp.^(c)		132,394		2,246,201
UBE Corp.		401,700		6,289,602
Ulvac Inc.		198,700		7,503,291
Union Tool Co.		23,000		584,935
United Arrows Ltd.		83,800		1,110,001


Security	Shares		Value

Japan (continued)
United Super Markets Holdings Inc.		239,200	$	1,937,712
United Urban Investment Corp.		12,576		13,709,151
Universal Entertainment Corp.^(a)		106,400		1,157,874
Usen-Next Holdings Co. Ltd.		62,000		970,947
Ushio Inc.		400,300		5,534,608
UT Group Co. Ltd.		115,700		2,253,190
Valor Holdings Co. Ltd.		154,300		2,175,708
ValueCommerce Co. Ltd.		66,000		1,373,390
Vector Inc.		122,400		1,117,191
Vision Inc./Tokyo Japan^(a)(c)		158,400		1,389,551
Visional Inc.^(a)		69,800		3,822,815
VT Holdings Co. Ltd.		352,700		1,285,434
Wacoal Holdings Corp.		178,700		2,898,239
Wacom Co. Ltd.		634,300		4,161,559
Wakita & Co. Ltd.		95,500		791,593
WDB Holdings Co. Ltd.^(c)		31,100		596,240
WealthNavi Inc.^(a)(c)		118,700		1,890,480
Weathernews Inc.		25,600		1,495,254
West Holdings Corp.^(c)		97,330		2,997,958
Workman Co. Ltd.		88,100		4,232,576
YAMABIKO Corp.		141,900		1,288,727
Yamada Holdings Co. Ltd.		3,106,500		11,215,649
Yamaguchi Financial Group Inc.		805,300		4,558,701
YA-MAN Ltd.		126,300		1,474,884
Yamato Kogyo Co. Ltd.		171,900		5,878,271
Yamazaki Baking Co. Ltd.		515,700		6,226,325
Yamazen Corp.		155,900		1,178,742
Yaoko Co. Ltd.		77,800		3,783,550
Yellow Hat Ltd.		136,000		1,779,256
Yodogawa Steel Works Ltd.		123,300		2,211,897
Yokogawa Bridge Holdings Corp.		141,100		2,039,134
Yokohama Rubber Co. Ltd. (The)		500,400		7,329,571
Yokorei Co. Ltd.		323,600		2,207,192
Yokowo Co. Ltd.		76,200		1,127,299
Yonex Co. Ltd.^(c)		254,900		2,283,342
Yoshinoya Holdings Co. Ltd.		275,300		5,336,837
Yuasa Trading Co. Ltd.		52,700		1,431,072
Yurtec Corp.		91,900		502,830
Zenkoku Hosho Co. Ltd.		222,300		7,562,866
Zenrin Co. Ltd.		168,600		1,172,546
Zensho Holdings Co. Ltd.		391,700		10,370,268
Zeon Corp.		551,300		5,598,009
ZERIA Pharmaceutical Co. Ltd.		147,500		2,426,570
Zojirushi Corp.		145,800		1,618,603
Zuken Inc.		64,400		1,643,945


				3,270,452,956

Netherlands — 2.2%
Aalberts NV		423,603		18,153,898
Alfen Beheer BV^(a)(d)		92,704		10,822,101
AMG Advanced Metallurgical Group NV		117,256		3,291,556
Arcadis NV		306,750		11,342,274
Ariston Holding NV		356,612		2,952,249
ASR Nederland NV		589,083		24,622,151
B&S Group Sarl^(d)		156,862		818,520
Basic-Fit NV^(a)(d)		221,375		8,978,457
BE Semiconductor Industries NV		302,510		16,239,262
Boskalis Westminster		330,649		10,849,428
Brunel International NV		114,402		1,295,864
Cementir Holding NV		186,415		1,211,595
CM.Com NV^(a)(c)		50,939		617,432


Security	Shares		Value

Netherlands (continued)
Corbion NV		251,606	$	8,768,582
COSMO Pharmaceuticals NV		36,367		1,951,392
CureVac NV^(a)(c)		237,043		3,164,043
Ebusco Holding NV^(a)(c)		62,360		1,498,772
Eurocommercial Properties NV		177,859		4,027,154
Fastned BV^(a)(c)		20,611		597,106
Flow Traders^(d)		145,967		3,172,056
Fugro NV^(a)		405,237		4,823,255
InPost SA^(a)		951,757		6,284,687
Intertrust NV^(a)(d)		383,250		7,559,821
Iveco Group NV^(a)		852,832		5,221,547
Koninklijke BAM Groep NV^(a)		1,110,987		2,708,939
Koninklijke Vopak NV		297,615		6,907,357
Meltwater Holding BV^(a)(c)		602,346		782,636
MFE-MediaForEurope NV^(a)		1,699,014		764,772
MFE-MediaForEurope NV, Class B^(a)		1,714,102		1,103,112
NSI NV		87,202		2,829,369
Pharming Group NV^(a)(c)		2,720,488		2,128,806
PostNL NV^(c)		1,564,101		4,114,055
RHI Magnesita NV		111,746		3,080,541
SBM Offshore NV		562,177		7,846,141
Shop Apotheke Europe NV^(a)(c)(d)		61,237		5,946,614
Signify NV^(d)		543,756		17,660,120
Sligro Food Group NV^(a)		94,094		1,865,674
SNS Real NV^(b)(c)		287,474		3
Technip Energies NV		562,610		6,644,572
TKH Group NV		169,928		6,975,700
TomTom NV^(a)(c)		310,075		2,802,984
Van Lanschot Kempen NV		125,463		2,873,015
Vastned Retail NV		52,420		1,270,212
Wereldhave NV		136,437		2,066,885


				238,634,709

New Zealand — 1.1%
a2 Milk Co. Ltd. (The)^(a)		3,130,123		9,835,470
Air New Zealand Ltd.^(a)(c)		6,956,849		2,678,794
Argosy Property Ltd.		3,516,911		2,894,331
Chorus Ltd.		1,905,022		9,587,805
Contact Energy Ltd.		3,296,366		15,902,152
Fletcher Building Ltd.		3,397,283		11,053,223
Genesis Energy Ltd.		2,062,638		3,740,477
Goodman Property Trust		4,231,511		5,811,706
Infratil Ltd.		3,047,748		16,092,783
Kiwi Property Group Ltd.		8,752,850		5,619,731
Oceania Healthcare Ltd.		2,559,276		1,518,252
Precinct Properties New Zealand Ltd.		5,771,884		5,165,808
Pushpay Holdings Ltd.^(a)		4,539,792		3,699,920
Ryman Healthcare Ltd.		1,795,509		10,502,260
SKYCITY Entertainment Group Ltd.		3,338,463		5,831,358
Summerset Group Holdings Ltd.		939,997		6,336,759
Synlait Milk Ltd.^(a)(c)		361,935		730,268
Vulcan Steel Ltd.		202,142		1,240,652
Warehouse Group Ltd. (The)		512,639		1,049,420


				119,291,169

Norway — 2.3%
Aker ASA, Class A		94,343		7,326,786
Aker Carbon Capture ASA^(a)		1,405,060		3,166,946
Aker Horizons Holding AS^(a)		732,019		1,359,571
Aker Solutions ASA		1,053,081		3,264,151
Atea ASA		359,889		4,394,336


Security	Shares		Value

Norway (continued)
Austevoll Seafood ASA		381,352	$	4,697,799
Bakkafrost P/F		214,048		14,922,508
Bewi ASA		198,993		1,417,630
Bonheur ASA		89,160		3,570,288
Borregaard ASA		382,775		6,871,099
BW Energy Ltd.^(a)		366,726		1,044,880
BW LPG Ltd.^(d)		352,777		2,901,815
BW Offshore Ltd.		414,057		1,165,446
Crayon Group Holding ASA^(a)(d)		295,797		4,741,979
DNO ASA		1,794,747		2,582,337
Elkem ASA^(d)		1,351,514		5,537,647
Elopak ASA^(c)		505,264		959,122
Entra ASA^(d)		266,078		3,747,040
Europris ASA^(d)		658,218		3,891,969
Flex LNG Ltd.^(c)		127,550		4,045,011
Frontline Ltd./Bermuda^(a)		526,607		5,016,086
Golden Ocean Group Ltd.		555,409		6,132,334
Grieg Seafood ASA		190,240		2,921,184
Hafnia Ltd.^(c)		481,795		1,712,311
Hexagon Composites ASA^(a)(c)		476,775		1,601,150
Hexagon Purus ASA^(a)		345,186		1,000,685
Kahoot! ASA^(a)(c)		1,170,411		2,806,331
Leroy Seafood Group ASA		1,139,637		8,952,681
LINK Mobility Group Holding ASA^(a)		727,278		953,936
MPC Container Ships AS		1,155,420		2,817,839
NEL ASA^(a)(c)		6,238,391		10,761,913
Nordic Semiconductor ASA^(a)		691,217		12,147,129
Norway Royal Salmon ASA^(a)		58,127		1,494,507
Norwegian Air Shuttle ASA^(a)(c)		2,736,989		2,670,391
Nykode Therapeutics AS^(a)(c)		439,486		1,490,036
Odfjell Drilling Ltd.^(a)		355,902		854,047
Protector Forsikring ASA		303,058		3,574,574
REC Silicon ASA^(a)(c)		1,194,375		2,254,652
Scatec ASA^(c)(d)		506,634		6,049,690
Schibsted ASA, Class A		309,319		5,813,797
Schibsted ASA, Class B		411,828		7,408,217
Selvaag Bolig ASA		289,115		1,227,913
SpareBank 1 Nord Norge		330,642		3,198,625
SpareBank 1 Oestlandet		117,166		1,447,583
SpareBank 1 SMN		608,822		7,806,385
SpareBank 1 SR-Bank ASA		760,357		8,990,725
Stolt-Nielsen Ltd.		75,087		1,599,965
Storebrand ASA		2,016,946		16,964,621
TGS ASA		489,629		7,267,605
TOMRA Systems ASA		1,007,670		23,589,164
Veidekke ASA		464,709		4,804,759
Volue ASA^(a)(c)		235,690		599,806
Wallenius Wilhelmsen ASA		451,882		3,029,278


				250,568,279

Portugal — 0.3%
Altri SGPS SA		309,058		1,823,587
Banco Comercial Portugues SA, Class R		35,462,851		5,262,273
Corticeira Amorim SGPS SA		118,007		1,254,334
CTT-Correios de Portugal SA		438,528		1,499,735
Greenvolt Energias Renovaveis SA^(a)(c)		237,714		2,146,984
Navigator Co. SA (The)		894,432		3,691,259
NOS SGPS SA		874,287		3,300,828
REN - Redes Energeticas Nacionais SGPS SA		1,661,518		4,697,418
Semapa-Sociedade de Investimento e Gestao		77,927		1,140,375


Security	Shares		Value

Portugal (continued)
Sonae SGPS SA		3,924,815	$	4,465,546


				29,282,339

Singapore — 2.2%
AEM Holdings Ltd.^(c)		1,141,700		3,615,872
AIMS APAC REIT^(c)		2,254,400		2,270,364
Ascendas India Trust		3,893,000		3,275,511
Ascott Residence Trust		8,327,496		7,071,807
Best World International Ltd.^(a)(b)(c)		463,194		456,018
Bumitama Agri Ltd.^(c)		1,484,200		644,645
CapitaLand China Trust^(c)		4,984,334		4,263,929
CDL Hospitality Trusts		3,738,700		3,579,184
China Aviation Oil Singapore Corp. Ltd.		568,100		353,723
ComfortDelGro Corp. Ltd.		9,142,700		9,406,464
Cromwell European Real Estate Investment Trust		1,287,960		2,632,718
Digital Core REIT Management Pte Ltd.^(a)		3,329,400		2,900,979
Eagle Hospitality Trust^(a)(b)(c)		2,020,200		20
ESR-LOGOS REIT		21,084,273		6,416,234
Far East Hospitality Trust		3,985,700		1,848,324
First Resources Ltd.		2,393,500		2,396,338
Frasers Centrepoint Trust		4,373,438		7,390,610
Frasers Hospitality Trust		3,159,800		1,589,736
Frasers Logistics & Commercial Trust		12,458,436		13,005,321
Frencken Group Ltd.		1,261,100		1,119,595
Golden Agri-Resources Ltd.		27,114,600		5,105,392
Haw Par Corp. Ltd.		517,300		4,123,569
Hour Glass Ltd. (The)^(c)		1,042,500		1,678,483
Hutchison Port Holdings Trust, Class U		22,325,400		5,257,386
iFAST Corp. Ltd.^(c)		600,700		1,835,873
Japfa Ltd.^(c)		2,059,820		872,030
Kenon Holdings Ltd./Singapore		81,159		3,513,234
Keppel DC REIT^(c)		5,871,100		8,802,889
Keppel Infrastructure Trust		14,681,900		6,231,964
Keppel Pacific Oak US REIT		3,516,000		2,462,976
Keppel REIT		7,921,000		6,368,223
Lendlease Global Commercial REIT		7,066,629		4,277,792
Manulife US Real Estate Investment Trust^(c)		6,800,131		3,946,844
Mapletree Industrial Trust		8,613,593		16,919,213
Maxeon Solar Technologies Ltd.^(a)(c)		103,133		1,779,044
Nanofilm Technologies International Ltd.^(c)		1,120,100		1,634,315
NetLink NBN Trust		11,120,100		7,727,882
Olam Group Ltd.		4,014,300		4,727,938
OUE Commercial Real Estate Investment Trust		9,093,879		2,534,410
OUE Ltd.		1,352,600		1,282,689
Parkway Life REIT		1,669,800		5,792,411
Prime U.S. REIT		2,680,194		1,877,280
Raffles Medical Group Ltd.		3,576,800		2,979,316
Riverstone Holdings Ltd./Singapore		1,937,600		1,094,055
Sasseur Real Estate Investment Trust		2,357,900		1,349,508
SATS Ltd.^(a)(c)		2,896,500		8,350,160
Sembcorp Industries Ltd.		4,159,900		8,776,898
Sembcorp Marine Ltd.^(a)(c)		74,023,833		5,847,047
Sheng Siong Group Ltd.		2,960,600		3,429,440
SIA Engineering Co. Ltd.^(a)(c)		1,100,200		1,930,850
Silverlake Axis Ltd.		4,476,340		1,301,230
Singapore Post Ltd.^(c)		6,205,500		2,857,764
SPH REIT		4,929,036		3,373,767
Starhill Global REIT		6,342,100		2,736,515
StarHub Ltd.		2,662,400		2,410,694
Straits Trading Co. Ltd.		549,100		1,169,065
Suntec REIT		9,722,600		11,355,876


Security	Shares		Value

Singapore (continued)
TDCX Inc., ADR^(a)(c)		93,967	$	738,581
Yangzijiang Financial Holding Ltd.^(a)		10,271,000		2,936,908
Yangzijiang Shipbuilding Holdings Ltd.		10,842,000		7,309,732
Yanlord Land Group Ltd.		2,323,600		1,736,328


			244,672,963

Spain — 1.8%
Acerinox SA		848,518		8,278,433
Almirall SA		300,048		2,896,939
Applus Services SA		602,902		4,378,071
Atresmedia Corp. de Medios de Comunicacion SA^(c)		385,549		1,184,762
Audax Renovables SA^(c)		516,559		566,832
Banco de Sabadell SA		23,930,059		15,321,532
Bankinter SA		2,837,074		13,968,437
Befesa SA^(d)		170,767		7,910,022
Cia. de Distribucion Integral Logista Holdings SA		276,372		5,696,896
Cie. Automotive SA		206,090		5,421,289
Construcciones y Auxiliar de Ferrocarriles SA		86,530		2,562,078
Corp Financiera Alba SA		66,575		3,511,988
Distribuidora Internacional de Alimentacion SA^(a)		65,957,017		886,999
Ebro Foods SA		297,123		4,944,423
eDreams ODIGEO SA^(a)		245,471		1,299,928
Ence Energia y Celulosa SA		554,090		1,835,485
Faes Farma SA		1,315,278		5,605,645
Fluidra SA		413,294		7,725,346
Gestamp Automocion SA^(d)		731,472		2,813,951
Global Dominion Access SA^(d)		358,553		1,438,351
Grenergy Renovables SA^(a)(c)		47,378		1,875,531
Grupo Catalana Occidente SA		183,858		5,482,754
Indra Sistemas SA		597,041		5,461,552
Inmobiliaria Colonial Socimi SA		1,263,191		8,369,235
Laboratorios Farmaceuticos Rovi SA		81,702		4,277,834
Lar Espana Real Estate Socimi SA		295,740		1,446,319
Let’s Gowex SA.^(a)(b)(c)		51,450		—
Linea Directa Aseguradora SA Cia de Seguros y Reaseguros		2,784,331		3,090,059
Mapfre SA		3,817,488		6,165,801
Mediaset Espana Comunicacion SA^(a)		650,526		2,263,475
Melia Hotels International SA^(a)		505,501		3,188,306
Merlin Properties Socimi SA		1,394,151		14,953,390
Miquel y Costas & Miquel SA		108,856		1,403,308
Neinor Homes SA^(c)(d)		117,140		1,259,955
Pharma Mar SA		61,665		3,798,536
Prosegur Cash SA^(d)		1,428,221		1,037,856
Prosegur Cia. de Seguridad SA		815,127		1,453,683
Sacyr SA		1,647,459		3,767,681
Solaria Energia y Medio Ambiente SA^(a)		316,594		7,299,889
Soltec Power Holdings SA^(a)(c)		178,366		890,031
Talgo SA^(c)(d)		415,973		1,236,932
Tecnicas Reunidas SA^(a)(c)		131,664		874,104
Unicaja Banco SA^(d)		6,100,214		5,276,732
Viscofan SA		167,163		9,735,310


				192,855,680

Sweden — 5.9%
AAK AB		769,181		13,445,226
AcadeMedia AB^(d)		357,357		1,761,782
AddLife AB		480,592		8,280,114
AddTech AB, Class B		1,105,516		18,924,954
AFRY AB		392,825		5,998,367
Alimak Group AB^(d)		183,875		1,638,110


Security	Shares		Value

Sweden (continued)
Ambea AB^(d)		301,123	$	1,484,406
Arjo AB, Class B		910,195		4,999,967
Atrium Ljungberg AB, Class B		186,478		2,772,891
Attendo AB^(a)(d)		462,715		1,126,407
Avanza Bank Holding AB		532,344		10,271,861
Axfood AB^(c)		461,504		14,641,405
Beijer Alma AB		195,146		3,918,973
Beijer Ref AB		1,049,333		16,645,371
Betsson AB		483,008		3,334,220
BHG Group AB^(a)		425,195		1,453,264
BICO Group AB, Class B^(a)(c)		171,247		680,092
Bilia AB, Class A		303,092		4,282,529
BillerudKorsnas AB^(c)		961,868		12,406,706
BioArctic AB^(a)(d)		146,874		1,594,793
BioGaia AB		366,802		3,450,657
Biotage AB		277,798		6,111,094
Bonava AB, Class B		321,434		1,204,180
Boozt AB^(a)(c)(d)		219,831		1,548,574
Bravida Holding AB^(d)		849,081		8,598,897
Bufab AB		110,732		3,340,798
Bure Equity AB		233,180		6,207,479
Calliditas Therapeutics AB, Class B^(a)(c)		135,307		1,279,188
Camurus AB^(a)		123,421		2,804,876
Cary Group AB^(a)(c)		334,372		2,084,437
Castellum AB		1,112,982		17,843,354
Catena AB		128,456		5,886,300
Cellavision AB		65,069		2,343,998
Cibus Nordic Real Estate AB		187,812		3,366,367
Cint Group AB^(a)		624,278		4,406,234
Clas Ohlson AB, Class B		162,065		1,838,328
Cloetta AB, Class B		841,336		1,683,980
Collector AB^(a)		276,619		961,175
Coor Service Management Holding AB^(d)		394,899		3,269,613
Corem Property Group AB, Class B		2,454,389		3,300,582
Creades AB, Class A		235,346		2,168,143
Dios Fastigheter AB		354,647		2,803,302
Dometic Group AB^(d)		1,365,784		9,262,361
Duni AB^(a)		149,089		1,423,081
Dustin Group AB^(c)(d)		314,135		2,145,043
Electrolux Professional AB, Class B		1,001,416		6,119,535
Elekta AB, Class B		1,590,123		11,484,678
Fabege AB		1,122,973		11,527,106
Fagerhult AB		374,735		2,038,493
Fingerprint Cards AB, Class B^(a)(c)		1,172,743		1,039,209
Fortnox AB		2,066,271		11,782,674
GARO AB		137,375		2,400,356
Granges AB		450,068		4,173,149
Hemnet Group AB		162,786		2,467,344
Hexatronic Group AB		676,229		8,203,187
Hexpol AB		1,119,081		11,672,083
HMS Networks AB^(c)		117,673		5,609,355
Hufvudstaden AB, Class A		479,386		6,617,113
Humble Group AB^(a)(c)		585,881		946,673
Implantica AG, SDR^(a)		138,757		546,169
Instalco AB		775,036		3,836,483
Intrum AB		311,282		6,648,972
Investment AB Oresund		182,157		1,998,065
INVISIO AB		171,637		2,800,320
Inwido AB		237,318		2,879,649
JM AB		221,724		4,114,651


Security	Shares		Value

Sweden (continued)
Kambi Group PLC, Class B^(a)		107,187	$	1,934,917
Karo Pharma AB^(a)		232,403		1,161,763
K-Fast Holding AB^(a)(c)		259,215		744,635
Kindred Group PLC		988,040		8,701,726
KNOW IT AB		108,217		3,198,545
LeoVegas AB^(d)		335,087		2,005,598
Lime Technologies AB		42,271		1,212,116
Lindab International AB		319,344		5,589,600
Loomis AB		315,136		8,886,289
MEKO AB		160,316		1,884,540
Millicom International Cellular SA, SDR^(a)(c)		734,690		11,552,316
MIPS AB^(c)		111,356		5,957,513
Modern Times Group MTG AB, Class B		417,225		4,318,523
Munters Group AB^(d)		541,094		4,035,507
Mycronic AB		311,635		4,583,514
NCC AB, Class B		354,510		3,681,656
New Wave Group AB, Class B		178,319		2,733,110
Nobia AB		528,693		1,535,659
Nolato AB, Class B		866,537		5,214,573
Nordnet AB publ		581,344		7,808,917
Note AB^(a)		73,487		1,508,911
Nyfosa AB		698,456		6,521,133
Orron Energy AB		—		—
OX2 AB^(a)		348,544		3,427,806
Pandox AB^(a)		384,783		5,642,909
Paradox Interactive AB^(c)		138,100		2,449,497
Peab AB, Class B		779,458		5,317,800
Platzer Fastigheter Holding AB, Class B		262,824		2,253,195
PowerCell Sweden AB^(a)		197,859		3,556,632
Ratos AB, Class B		853,393		4,275,226
Re:NewCell AB^(a)(c)		82,149		859,517
Resurs Holding AB^(d)		535,163		1,250,180
Rvrc Holding AB		166,083		752,420
Saab AB, Class B		311,615		11,272,237
Samhallsbyggnadsbolaget i Norden AB^(c)		4,504,143		8,357,267
Samhallsbyggnadsbolaget i Norden AB, Class D^(c)		716,116		1,373,774
Scandic Hotels Group AB^(a)(c)(d)		678,283		2,777,644
Sdiptech AB, Class B^(a)		126,106		3,516,314
Sectra AB		573,284		10,524,854
Sedana Medical AB^(a)(c)		278,678		760,572
SkiStar AB		172,877		2,683,710
SSAB AB, Class A		1,009,084		4,883,337
SSAB AB, Class B		2,736,338		12,554,838
Stillfront Group AB^(a)(c)		1,932,384		5,063,630
Storskogen Group AB		5,821,606		7,744,221
Storytel AB^(a)(c)		176,625		999,502
Surgical Science Sweden AB^(a)		140,005		2,183,360
Svolder AB		380,798		2,474,652
Sweco AB, Class B		914,788		10,202,894
SwedenCare AB		369,191		2,595,311
Synsam AB		190,060		1,173,340
Thule Group AB^(d)		450,802		13,087,592
Trelleborg AB, Class B		1,030,545		25,321,046
Troax Group AB		167,139		3,553,325
Truecaller AB^(a)(c)		276,482		2,168,220
Vestum AB^(a)		593,443		937,149
Viaplay Group AB, Class B^(a)		312,766		9,286,262
Vimian Group AB^(a)(c)		540,929		2,110,018
Vitec Software Group AB, Class B		123,090		5,675,305
Vitrolife AB		260,102		8,485,878


Security	Shares		Value

Sweden (continued)
VNV Global AB^(a)		386,543	$	1,091,589
Volati AB		100,231		1,417,847
Wallenstam AB, Class B^(c)		1,495,128		7,621,148
Wihlborgs Fastigheter AB		1,186,377		10,116,421
XANO Industri AB, Class B		64,884		796,828
Xvivo Perfusion AB^(a)		95,246		2,151,006


				647,416,077

Switzerland — 4.7%
Allreal Holding AG, Registered		63,413		10,491,522
ALSO Holding AG, Registered		27,045		5,014,315
APG SGA SA		3,623		690,838
Arbonia AG		221,140		3,144,896
Aryzta AG^(a)		4,024,557		4,599,466
Autoneum Holding AG		12,275		1,422,870
Banque Cantonale Vaudoise, Registered		128,003		11,918,403
Basilea Pharmaceutica AG, Registered^(a)(c)		49,262		2,282,817
Belimo Holding AG, Registered		41,611		17,081,886
Bell Food Group AG, Registered		6,219		1,664,531
BKW AG		90,109		10,251,512
Bobst Group SA, Registered		36,140		2,980,711
Bossard Holding AG, Class A, Registered		23,762		5,296,157
Bucher Industries AG, Registered		28,443		10,920,318
Burckhardt Compression Holding AG		13,064		5,901,971
Burkhalter Holding AG^(c)		14,209		1,116,597
Bystronic AG, Registered		5,827		4,311,131
Cembra Money Bank AG		127,513		9,269,350
Coltene Holding AG, Registered		12,231		1,192,920
Comet Holding AG, Registered		32,849		6,058,394
Daetwyler Holding AG, Bearer		32,030		7,807,482
DKSH Holding AG		151,282		12,435,152
dormakaba Holding AG		12,571		5,988,597
Dottikon Es Holding AG^(a)(c)		11,840		2,909,117
Dufry AG, Registered^(a)		311,887		11,743,110
EFG International AG		391,744		3,050,945
Emmi AG, Registered		9,064		9,018,280
Flughafen Zurich AG, Registered^(a)		85,667		14,246,094
Forbo Holding AG, Registered		4,238		5,691,063
Galenica AG^(d)		212,939		16,858,469
Georg Fischer Ltd.		348,575		21,304,527
Gurit Holding AG^(c)		14,122		1,720,507
Helvetia Holding AG, Registered		159,215		18,202,834
Huber + Suhner AG, Registered		67,209		6,051,691
Idorsia Ltd.^(a)(c)		490,751		6,001,446
Implenia AG, Registered^(a)(c)		63,488		1,679,077
Inficon Holding AG, Registered		7,208		6,015,515
Interroll Holding AG, Registered		2,703		7,133,329
Intershop Holding AG		6,164		4,144,519
Kardex Holding AG, Registered^(c)		26,203		5,254,516
Komax Holding AG, Registered		15,234		4,132,610
Landis+Gyr Group AG^(c)		91,952		6,069,242
LEM Holding SA, Registered		2,358		4,682,061
Leonteq AG		42,016		2,505,097
Medacta Group SA^(d)		32,131		3,176,474
Medartis Holding AG^(a)(d)		18,285		1,625,163
Medmix AG^(d)		106,486		2,413,070
Metall Zug AG, Class B, Registered		863		1,745,312
Meyer Burger Technology AG^(a)		10,121,643		6,018,137
Mobilezone Holding AG, Registered		182,501		3,257,248
Mobimo Holding AG, Registered		30,015		7,728,310
Molecular Partners AG^(a)		85,547		547,335


Security	Shares		Value

Switzerland (continued)
Montana Aerospace AG^(a)(d)		85,509	$	1,703,468
OC Oerlikon Corp. AG, Registered		794,313		6,147,253
Orior AG		25,349		2,169,192
Peach Property Group AG^(c)		35,034		1,271,655
PolyPeptide Group AG^(d)		64,269		3,049,926
PSP Swiss Property AG, Registered		195,885		23,426,308
Rieter Holding AG, Registered		11,510		1,306,189
Schweiter Technologies AG, Bearer		4,334		4,916,893
Sensirion Holding AG^(a)(d)		39,385		4,570,831
SFS Group AG		79,115		8,696,436
Siegfried Holding AG, Registered^(c)		16,685		12,347,778
SIG Group AG		1,221,015		31,854,215
Softwareone Holding AG		400,714		5,454,007
St. Galler Kantonalbank AG, Class A, Registered		12,607		6,005,492
Stadler Rail AG^(c)		212,397		6,878,774
Sulzer AG, Registered^(c)		80,175		5,374,473
Swiss Steel Holding AG, Registered^(a)		3,172,629		893,276
Swissquote Group Holding SA, Registered		42,567		5,175,047
Tecan Group AG, Registered		54,072		19,202,936
Trifork Holding AG^(c)		36,971		999,596
TX Group AG		11,677		1,529,420
u-blox Holding AG		28,415		3,326,277
Valiant Holding AG, Registered		64,348		5,796,784
Valora Holding AG, Registered		15,880		4,340,682
Vetropack Holding AG, Registered^(c)		49,050		1,949,002
Vontobel Holding AG, Registered		121,022		7,960,397
V-ZUG Holding AG^(a)(c)		10,254		839,191
Ypsomed Holding AG, Registered		15,346		2,178,087
Zehnder Group AG, Registered		44,606		2,880,139
Zur Rose Group AG^(a)(c)		42,198		3,012,990


				512,023,648

United Kingdom — 16.4%
888 Holdings PLC		1,589,875		2,848,076
Abcam PLC^(a)		922,918		13,792,918
Advanced Medical Solutions Group PLC		998,453		3,417,345
AG Barr PLC		382,575		2,522,010
Airtel Africa PLC^(d)		3,961,793		7,658,195
AJ Bell PLC		1,317,601		5,069,739
Alliance Pharma PLC		2,168,614		2,569,632
Alpha FX Group PLC		126,905		2,812,717
Alphawave IP Group PLC^(a)		1,155,495		1,894,040
AO World PLC^(a)(c)		1,780,466		941,455
Argo Blockchain PLC^(a)		1,973,845		899,557
Ascential PLC^(a)		1,862,368		6,658,388
Ashmore Group PLC		1,999,906		5,270,565
ASOS PLC^(a)(c)		295,634		3,762,550
Assura PLC		12,641,155		10,593,916
Aston Martin Lagonda Global Holdings PLC^(a)(c)(d)		298,897		1,757,905
Atalaya Mining PLC		472,962		1,612,725
Auction Technology Group PLC^(a)		381,535		4,618,455
Avacta Group PLC^(a)(c)		1,080,742		1,447,740
Avast PLC^(d)		2,880,386		16,310,961
Avon Protection PLC		133,466		1,726,121
B&M European Value Retail SA		4,046,258		20,950,902
Babcock International Group PLC^(a)		1,085,622		4,540,181
Bakkavor Group PLC^(d)		742,603		790,395
Balanced Commercial Property Trust Ltd.		3,156,929		4,612,321
Balfour Beatty PLC		2,685,657		9,177,283
Bank of Georgia Group PLC		156,509		2,870,385
Beazley PLC		2,577,539		17,071,385


Security	Shares		Value

United Kingdom (continued)
Bellway PLC		526,849	$	15,744,375
Biffa PLC^(d)		1,298,175		5,745,054
Big Yellow Group PLC		741,409		12,860,953
Bodycote PLC		805,742		5,894,482
boohoo Group PLC^(a)(c)		4,269,260		3,488,531
Borr Drilling Ltd.^(a)(c)		574,596		2,096,627
Breedon Group PLC		6,617,327		5,733,172
Brewin Dolphin Holdings PLC		1,165,803		7,268,939
Bridgepoint Group PLC^(d)		2,781,615		8,637,998
Britvic PLC		1,138,611		11,931,696
Burford Capital Ltd.		790,092		8,471,941
Bytes Technology Group PLC		933,707		5,153,441
Capita PLC^(a)		7,226,944		2,537,654
Capital & Counties Properties PLC		3,054,305		5,533,310
Capricorn Energy PLC^(a)		1,340,078		3,593,331
Carnival PLC^(a)		640,773		5,166,872
Centamin PLC		4,886,666		4,940,772
Central Asia Metals PLC		753,350		2,288,987
Centrica PLC^(a)		24,936,967		26,719,916
Ceres Power Holdings PLC^(a)(c)		524,602		3,897,030
Chemring Group PLC		1,203,737		5,094,352
Cineworld Group PLC^(a)(c)		4,198,791		1,184,902
Civitas Social Housing PLC		2,584,267		2,605,815
Clarkson PLC		116,480		4,898,266
Close Brothers Group PLC		631,393		8,534,947
CLS Holdings PLC		782,376		1,933,130
CMC Markets PLC^(d)		558,016		1,749,846
Coats Group PLC		6,198,758		5,606,234
Computacenter PLC		335,094		10,593,690
ContourGlobal PLC^(d)		831,312		2,604,469
ConvaTec Group PLC^(d)		6,844,404		19,085,528
Countryside Partnerships PLC^(a)(d)		2,095,518		7,427,551
Craneware PLC		112,178		2,568,275
Cranswick PLC		227,259		9,243,650
Crest Nicholson Holdings PLC		1,093,280		3,675,858
Currys PLC		4,685,123		3,830,855
Custodian Reit PLC		1,776,864		2,354,285
CVS Group PLC		295,634		6,206,799
Darktrace PLC^(a)		887,899		4,076,897
Dechra Pharmaceuticals PLC		458,942		20,653,603
Deliveroo PLC^(a)(d)		3,714,025		4,099,592
Derwent London PLC		432,491		15,099,173
Diploma PLC		528,129		17,735,893
Direct Line Insurance Group PLC		5,745,421		14,418,411
Diversified Energy Co. PLC		3,518,990		5,301,071
Domino’s Pizza Group PLC		1,728,103		6,022,413
Dr. Martens PLC		2,562,808		8,136,329
Drax Group PLC		1,435,354		13,768,941
DS Smith PLC		5,880,396		20,961,210
Dunelm Group PLC		474,520		4,933,812
easyJet PLC^(a)		1,298,027		6,339,846
Elementis PLC^(a)		2,480,493		3,303,135
EMIS Group PLC		248,476		5,548,806
Empiric Student Property PLC		2,580,623		2,830,152
Energean PLC^(a)		518,506		7,248,891
EnQuest PLC^(a)		6,384,220		2,243,033
Ergomed PLC^(a)		161,731		2,375,888
Essentra PLC		1,294,403		3,907,355
Euromoney Institutional Investor PLC		459,609		8,137,522
FD Technologies PLC^(a)		98,521		2,353,045


Security	Shares		Value

United Kingdom (continued)
Ferrexpo PLC		1,251,533	$	2,270,053
Fevertree Drinks PLC		453,800		5,945,762
Finablr PLC^(a)(b)(d)		1,080,679		13
Firstgroup PLC		3,142,675		5,132,628
Forterra PLC^(d)		947,817		3,399,270
Frasers Group PLC^(a)		728,291		7,968,752
Frontier Developments PLC^(a)(c)		98,032		1,862,044
Future PLC		483,811		10,839,931
Games Workshop Group PLC		139,157		13,170,204
Gamma Communications PLC		348,842		4,731,658
GB Group PLC		1,031,169		6,380,908
Genel Energy PLC		647,695		1,148,709
Genuit Group PLC		1,047,644		5,425,518
Genus PLC		283,053		9,782,640
Go-Ahead Group PLC (The)^(a)		175,305		3,167,339
Grainger PLC		3,104,634		11,198,797
Great Portland Estates PLC		910,208		6,889,872
Greatland Gold PLC^(a)		17,431,284		2,695,933
Greggs PLC		430,901		10,743,248
Gulf Keystone Petroleum Ltd.		892,000		2,567,550
Gym Group PLC (The)^(a)(d)		682,168		1,482,157
Halfords Group PLC		910,244		1,904,424
Hammerson PLC^(c)		14,934,687		4,559,596
Harbour Energy PLC		1,949,126		8,715,871
Hays PLC		7,057,960		11,011,606
Helical PLC		585,777		2,782,101
Helios Towers PLC^(a)(c)		3,113,286		5,473,589
Hill & Smith Holdings PLC		337,929		5,431,856
Hiscox Ltd.		1,465,965		15,962,488
Hochschild Mining PLC		1,279,743		1,263,490
Home Reit PLC		3,349,512		4,854,052
HomeServe PLC		1,290,994		18,504,468
Hotel Chocolat Group PLC^(a)		230,339		387,099
Howden Joinery Group PLC		2,536,406		20,936,898
Hunting PLC		591,330		1,555,463
Ibstock PLC^(d)		1,697,916		4,255,878
IG Group Holdings PLC		1,746,118		16,941,266
IMI PLC		1,099,627		17,955,825
Impact Healthcare Reit PLC		1,243,316		1,780,593
Impax Asset Management Group PLC		367,758		3,229,075
Inchcape PLC		1,614,290		16,522,543
Indivior PLC^(a)		2,963,715		11,606,337
IntegraFin Holdings PLC		1,261,789		4,204,155
Intermediate Capital Group PLC		1,231,311		22,953,435
Investec PLC		2,946,230		15,938,093
IP Group PLC		4,330,035		4,561,324
ITM Power PLC^(a)(c)		1,815,419		4,739,921
ITV PLC		15,428,181		13,876,388
IWG PLC^(a)		3,198,647		7,501,424
J D Wetherspoon PLC^(a)		409,885		2,799,111
JET2 PLC^(a)		681,379		7,637,137
John Menzies PLC^(a)		291,668		2,152,471
John Wood Group PLC^(a)		2,911,838		5,581,429
Johnson Service Group PLC^(a)		1,867,417		2,573,769
JTC PLC^(d)		577,449		5,251,023
Judges Scientific PLC		22,281		2,311,800
Jupiter Fund Management PLC		1,882,184		2,889,964
Just Group PLC		4,418,747		3,849,190
Kainos Group PLC		340,462		5,659,489
Kape Technologies PLC^(a)(c)		653,482		2,379,473


Security	Shares		Value

United Kingdom (continued)
Keller Group PLC		315,392	$	3,066,454
Keywords Studios PLC		307,295		9,447,443
Kier Group PLC^(a)		1,903,597		1,774,981
Lancashire Holdings Ltd.		1,036,684		5,647,499
Learning Technologies Group PLC		2,505,669		4,058,366
Liontrust Asset Management PLC		262,419		3,333,900
LondonMetric Property PLC		3,972,575		12,113,854
Luceco PLC^(d)		342,997		455,858
LXI REIT PLC		8,047,969		14,577,752
Man Group PLC/Jersey		5,786,829		19,251,279
Marks & Spencer Group PLC^(a)		8,337,354		14,454,288
Marlowe PLC^(a)		344,690		3,349,712
Marshalls PLC		903,843		5,457,007
Marston’s PLC^(a)		2,771,114		1,611,064
Mediclinic International PLC^(a)		1,751,963		10,366,305
Meggitt PLC^(a)		3,323,594		32,015,125
Micro Focus International PLC		1,423,085		4,957,482
Mitchells & Butlers PLC^(a)		1,149,884		2,428,933
Mitie Group PLC		6,196,982		5,921,468
Moneysupermarket.com Group PLC		2,266,641		5,642,608
Moonpig Group PLC^(a)(c)		981,905		2,501,688
Morgan Advanced Materials PLC		1,199,501		4,652,496
Morgan Sindall Group PLC		175,203		4,343,712
National Express Group PLC^(a)		2,207,064		4,944,714
NCC Group PLC		1,338,648		3,656,536
Network International Holdings PLC^(a)(d)		2,136,868		5,225,373
Next Fifteen Communications Group PLC		350,244		4,385,409
Ninety One PLC		2,007,209		5,015,865
Numis Corp. PLC^(c)		299,737		944,626
On the Beach Group PLC^(a)(d)		694,613		942,116
OSB Group PLC		1,904,661		12,235,067
Oxford Biomedica PLC^(a)		277,687		1,633,348
Oxford Nanopore Technologies PLC^(a)(c)		1,392,424		5,438,449
Pagegroup PLC		1,382,145		7,692,973
Pan African Resources PLC		8,504,354		2,090,936
Pantheon Resources PLC^(a)(c)		2,950,808		4,210,748
Paragon Banking Group PLC		1,042,951		6,809,524
Penno Group PLC		1,120,472		13,715,084
Petrofac Ltd.^(a)		1,857,616		2,606,060
Pets at Home Group PLC		2,133,738		8,561,225
Picton Property Income Ltd. (The)		2,364,994		2,661,203
Playtech PLC^(a)		969,504		5,809,397
Polar Capital Holdings PLC		310,642		1,851,050
Premier Foods PLC		2,683,129		3,803,386
Primary Health Properties PLC		5,607,889		10,089,390
Provident Financial PLC		1,016,807		2,402,873
PRS REIT PLC (The)		2,172,748		2,910,569
PZ Cussons PLC		962,298		2,468,998
QinetiQ Group PLC		2,454,489		11,431,322
Quilter PLC^(d)		5,859,923		7,493,024
Rank Group PLC^(a)		935,411		1,025,229
Rathbones Group PLC		250,552		5,522,712
Reach PLC		1,265,118		1,489,048
Redde Northgate PLC		983,019		4,393,432
Redrow PLC		1,256,856		8,886,762
Regional REIT Ltd.^(d)		1,661,778		1,494,953
Renewi PLC^(a)		338,512		3,129,839
Renishaw PLC		153,805		8,165,227
Restaurant Group PLC (The)^(a)		3,274,380		2,029,985
Restore PLC		553,243		3,023,744


Security	Shares		Value

United Kingdom (continued)
Rightmove PLC		3,601,427	$	28,155,140
Rotork PLC		3,619,185		11,484,642
Royal Mail PLC		3,301,509		11,409,337
RS GROUP PLC		1,996,082		25,199,875
RWS Holdings PLC		1,341,135		6,261,819
S4 Capital PLC^(a)		1,173,042		1,814,064
Sabre Insurance Group PLC^(d)		1,063,816		1,417,293
Safestore Holdings PLC		895,322		12,467,008
Saga PLC^(a)		448,511		862,991
Sanne Group PLC^(a)		660,977		7,405,427
Savills PLC		605,228		8,823,900
Senior PLC^(a)		1,878,156		3,321,041
Serco Group PLC		5,183,880		11,926,517
Serica Energy PLC		860,902		3,984,674
Shaftesbury PLC		818,264		5,021,122
SIG PLC^(a)(c)		3,025,394		1,346,348
Smart Metering Systems PLC		549,220		6,305,096
Softcat PLC		548,213		9,352,624
SolGold PLC^(a)(c)		4,778,467		1,478,081
Spectris PLC		469,466		17,856,438
Spire Healthcare Group PLC^(a)(d)		1,197,466		3,475,030
Spirent Communications PLC		2,607,731		8,969,758
SSP Group PLC^(a)		3,368,753		10,475,875
SThree PLC		531,819		2,442,653
Strix Group PLC^(c)		863,654		1,680,709
Subsea 7 SA^(c)		1,010,690		9,108,922
Supermarket Income Reit PLC		4,170,335		6,556,094
Synthomer PLC		1,587,193		4,527,499
Target Healthcare REIT PLC		2,646,191		3,705,911
Tate & Lyle PLC		1,708,234		16,734,479
TBC Bank Group PLC		174,387		2,930,685
Team17 Group PLC^(a)		435,400		2,328,227
Telecom Plus PLC		271,281		7,456,976
THG PLC^(a)		3,100,114		2,585,006
TI Fluid Systems PLC^(d)		1,424,223		3,031,663
TORM PLC, Class A^(a)		120,135		1,963,282
TP ICAP Group PLC		3,351,810		4,857,382
Trainline PLC^(a)(d)		2,036,068		9,823,871
Travis Perkins PLC		913,564		11,725,265
Tritax Big Box REIT PLC		8,011,299		19,274,521
Trustpilot Group PLC^(a)(d)		895,382		842,037
Tullow Oil PLC^(a)		4,778,096		2,998,991
Tyman PLC		811,185		2,622,364
UK Commercial Property REIT Ltd.		3,291,139		3,089,647
Ultra Electronics Holdings PLC		302,857		12,933,392
UNITE Group PLC (The)		1,442,597		20,567,534
Urban Logistics REIT PLC		2,003,624		4,329,315
Vesuvius PLC		945,487		4,142,787
Victoria PLC^(a)(c)		269,616		1,227,130
Victrex PLC		368,585		8,681,282
Virgin Money UK PLC		5,459,085		9,521,510
Vistry Group PLC		942,978		10,630,124
Volex PLC		502,708		1,931,388
Volution Group PLC		844,432		4,319,300
Warehouse REIT PLC		1,693,539		3,114,211
Watkin Jones PLC		963,892		2,582,421
Weir Group PLC (The)		1,109,074		22,679,217
WH Smith PLC^(a)		557,341		9,837,340
Wickes Group PLC		1,101,734		1,828,726
Wincanton PLC		527,003		2,419,682


Security	Shares		Value

United Kingdom (continued)
Workspace Group PLC		608,708	$	4,375,101
Yellow Cake PLC^(a)(d)		742,868		3,404,891
YouGov PLC		458,462		6,113,549
Young & Co’s Brewery PLC, Series A		95,465		1,441,590


				1,800,693,757


Total Common Stocks — 99.0% (Cost: $12,376,239,703)				10,862,957,737


Preferred Stocks

Germany — 0.3%
Draegerwerk AG & Co. KGaA, Preference Shares, NVS		37,084		1,945,787
Einhell Germany AG, Preference Shares, NVS^(c)		7,132		994,136
Fuchs Petrolub SE, Preference Shares, NVS		294,930		8,836,997
Jungheinrich AG, Preference Shares, NVS		202,207		5,503,971
Schaeffler AG, Preference Shares, NVS^(c)		536,873		3,162,446
Sixt SE, Preference Shares, NVS		70,591		4,980,092
STO SE & Co. KGaA, Preference Shares, NVS		10,085		1,564,824


				26,988,253

Italy — 0.0%
Danieli & C Officine Meccaniche SpA, Preference Shares, NVS		214,377		3,041,144


Total Preferred Stocks — 0.3% (Cost: $36,022,333)				30,029,397


Warrants

Australia — 0.0%
PointsBet Holdings Ltd. (Expires 07/08/24)^(a)		42,123		—


Italy — 0.0%
Webuild SpA (Expires 08/02/30)^(a)(c)		97,516		1


Singapore — 0.0%
Ezion Holdings Ltd. (Expires 04/16/23)^(a)(b)(c)		3,963,747		29


Security	Shares		Value


Spain — 0.0%
Abengoa SA (Expires 03/31/25)^(a)(c)		3,096,556	$	18,989


Total Warrants — 0.0% (Cost: $0)				19,019


Total Long-Term Investments — 99.3% (Cost: $12,412,262,036)				10,893,006,153


Short-Term Securities

Money Market Funds — 4.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		488,967,372		488,918,475
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		3,220,000		3,220,000


Total Short-Term Securities — 4.5% (Cost: $492,141,086)				492,138,475


Total Investments in Securities — 103.8% (Cost: $12,904,403,122)				11,385,144,628

Liabilities in Excess of Other Assets — (3.8)%				(418,654,478	)
Liabilities in Excess of Other Assets — (3.8)%

Net Assets — 100.0%			$	10,966,490,150

^(a)	Non-income producing security.

^(b)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(c)	All or a portion of this security is on loan.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):

Currently each Fund seeks to achieve its investment objective by investing a substantial portion of its assets in an iShares fund (an “underlying fund”). The financial statements, including the accounting policies, and Schedules of Investments for the underlying funds are included in this report and should be read in conjunction with the financial statements of the Funds.

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

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

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.

Forward Foreign Currency Exchange Contracts: Forward foreign currency exchange contracts are entered into to gain or reduce exposure to foreign currencies (foreign currency exchange rate risk).

A forward foreign currency exchange contract is an agreement between two parties to buy and sell a currency at a set exchange rate on a specified date. These contracts help to manage the overall exposure to the currencies in which some of the investments held by the Funds are denominated and in some cases, may be used to obtain exposure to a particular market.The contracts are traded over-the-counter (“OTC”) and not on an organized exchange.

The contract is marked-to-market daily and the change in market value is recorded as unrealized appreciation or depreciation 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 value at the time it was opened and the value at the time it was closed. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in cash without the delivery of foreign currency. The use of forward foreign currency exchange contracts involves the risk that the value of a contract changes unfavorably due to movements in the value of the referenced foreign currencies, and such value may exceed the amount(s) reflected in the Statements of Assets and Liabilities. Cash amounts pledged for forward foreign currency exchange contracts are considered restricted and are included in cash pledged as collateral for OTC derivatives in the Statements of Assets and Liabilities. A Fund’s risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by the Fund.

Master Netting Arrangements: In order to define its contractual rights and to secure rights that will help mitigate its counterparty risk, a Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs certain OTC derivatives and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency, or other events.

For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the mark-to-market amount for each transaction under such agreement, and comparing that amount to the value of any collateral currently pledged by a Fund and the counterparty.

Cash collateral that has been pledged to cover obligations of the Funds and cash collateral received from the counterparty, if any, is reported separately in the Statements of Assets and Liabilities as cash pledged as collateral and cash received as collateral, respectively. Non-cash collateral pledged by the Funds, if any, is noted in the Schedules of Investments. Generally, the amount of collateral due from or to a counterparty is subject to a certain minimum transfer amount threshold before a transfer is required, which is determined at the close of business of the Funds. Any additional required collateral is delivered to/pledged by the Funds on the next business day. Typically, the counterparty is not permitted to sell, re-pledge or use cash and non-cash collateral it receives. A Fund generally agrees not to use non-cash collateral that it receives but may, absent default or certain other circumstances defined in the underlying ISDA Master Agreement, be permitted to use cash collateral received. In such cases, interest may be paid pursuant to the collateral arrangement with the counterparty. To the extent amounts due to the Funds from the counterparty are not fully collateralized, each Fund bears the risk of loss from counterparty non-performance. Likewise, to the extent the Funds have delivered collateral to a counterparty and stand ready to perform under the terms of their agreement with such counterparty, each Fund bears the risk of loss from a counterparty in the amount of the value of the collateral in the event the counterparty fails to return such collateral. Based on the terms of agreements, collateral may not be required for all derivative contracts.

For financial reporting purposes, each Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements, if any, in the Statements of Assets and Liabilities.

For its investment advisory services to each of the iShares MSCI ACWI ex U.S. and iShares MSCI EAFE ETFs, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on each Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

For its investment advisory services to the iShares MSCI EAFE Small-Cap ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

Expense Waivers: A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies (“acquired fund fees and expenses”). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund’s total annual operating expenses. Total expenses as shown in the Statements of Operations does not include acquired fund fees and expenses.

For the iShares Currency Hedged MSCI EAFE ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investments in the iShares MSCI EAFE ETF (“EFA”), after taking into account any fee waivers by EFA, plus 0.03%.

For the iShares Currency Hedged MSCI ACWI ex U.S. ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investments in the iShares MSCI ACWI ex U.S. ETF (“ACWX”), after taking into account any fee waivers by ACWX, plus 0.03%.

For the iShares Currency Hedged MSCI EAFE Small-Cap ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investments in the iShares MSCI EAFE Small-Cap ETF (“SCZ”), taking into account any fee waivers by SCZ, plus 0.03%.

For ACWX, BFA has contractually agreed to waive a portion of its investment advisory fees for the Fund through November 30, 2026 in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund’s investments in other iShares funds.

These amounts are included in investment advisory fees waived in the Statements of Operations. For the year ended July 31, 2022, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

For the year ended July 31, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

For the year ended July 31, 2022, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2022, permanent differences attributable to distributions paid in excess of taxable income, undistributed capital gains, certain deemed distributions, and realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

As of July 31, 2022, the tax components of accumulated net earnings (losses) were as follows:

For the year ended July 31, 2022, the Funds listed below utilized the following amounts of their respective capital loss carryforwards:

The iShares MSCI ACWI ex U.S. ETF, along with certain other iShares funds (“Participating Funds”), is a party to a $300 million credit agreement (“Credit Agreement”) with State Street Bank and Trust Company, which expires on October 15, 2021. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Credit Agreement sets specific sub limits on aggregate borrowings based on two tiers of Participating Funds: $300 million with respect to the funds within Tier 1, including the Fund, and $200 million with respect to Tier 2. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Credit Agreement. The Credit Agreement has the following terms: a commitment fee of 0.20% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Credit Agreement. The Credit Agreement was terminated on August 12, 2021.

Effective August 13, 2021, the iShares Currency Hedged MSCI EAFE ETF and iShares MSCI ACWI ex U.S. ETF, along with certain other iShares funds (“Participating Funds”), are parties to a $800 million credit agreement (“Syndicated Credit Agreement”) with a group of lenders, which expires on August 12, 2022. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

For the year ended July 31, 2022, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Credit Agreement and Syndicated Credit Agreement were as follows:

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 a 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.

Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but could be significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust’s administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Investors transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

The iShares MSCI EAFE ETF has filed claims to recover taxes withheld by Sweden on dividend income based upon certain provisions in the Treaty on the Functioning of the European Union. The Fund has recorded receivables for all recoverable taxes withheld by Sweden based upon previous determinations made by the Swedish tax authorities. Professional and other fees associated with the filing of these claims for foreign withholding taxes have been approved by the Board as appropriate expenses of the Fund. Swedish tax claim receivables and related liabilities are disclosed in the statements of assets and liabilities. Collection of these receivables, and any payment of associated liabilities, depends upon future determinations made by the Swedish tax authorities, the outcome of which is uncertain. If such future determinations are unfavorable, the potential negative impact to the Fund, as of July 31, 2022, is $26,105,571 or $0.04 per share.

The Internal Revenue Service (“IRS”) has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which each of the iShares MSCI ACWI ex U.S. and iShares MSCI EAFE Small-Cap ETFs is able to pass through to shareholders as a foreign tax credit in the current year, each of the Funds will be able to offset the prior years’ withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Funds.

The iShares MSCI EAFE ETF is expected to seek a closing agreement with the Internal Revenue Service (“IRS”) to address any prior years’ U.S. income tax liabilities attributable to Fund shareholders resulting from the recovery of foreign taxes. The closing agreement would result in the Fund paying a compliance fee to the IRS, on behalf

of its shareholders, representing the estimated tax savings generated from foreign tax credits claimed by Fund shareholders on their tax returns in prior years. The Fund has accrued a liability for the estimated IRS compliance fee related to foreign withholding tax claims, which is disclosed in the Statements of Assets and Liabilities. The actual IRS compliance fee may differ from the estimate and that difference may be material.

iShares Trust and Shareholders of each of the six funds listed in the table below

We have served as the auditor of one or more BlackRock investment companies since 2000.

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2022:

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as capital gain dividends, subject to a long-term capital gains tax rate as noted below, for the fiscal year ended July 31, 2022:

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were higher than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rate and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. Further, with respect to comparisons with one or more open-end index mutual funds registered under the 1940 Act managed by BFA (or an affiliate) that track the same index as the Fund and have investment advisory fee rates and overall expenses (net of waivers and reimbursements) that are lower than the investment advisory fee rate and overall expenses (net of waivers and reimbursements) of the Fund, the Board gave weight to management’s explanations of the relevant circumstances applicable to such mutual funds. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

Information on the Fund’s net asset value, market price, premiums and discounts, and bid-ask spreads can be found at iShares.com.

Regulation under the Alternative Investment Fund Managers Directive (applicable to iShares MSCI EAFE ETF and iShares MSCI EAFE Small-Cap ETF only)

The Company has registered the iShares MSCI EAFE ETF and iShares MSCI EAFE Small-Cap ETF (each a “Fund”, collectively the “Funds) to be marketed to United Kingdom and EU investors in the Netherlands, Finland and Sweden.

Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; and (c) staff who have the ability to materially affect the risk profile of the Funds.

BlackRock has a clear and well defined pay-for-performance philosophy, and compensation programmes which support that philosophy.

Disclosures Under the EU Sustainable Finance Disclosure Regulation (applicable to iShares MSCI EAFE ETF and iShares MSCI EAFE Small-Cap ETF only)

The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds and ETFs (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (including ETFs) (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares U.S. ETF Trust and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 384 funds as of July 31, 2022. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated John E. Kerrigan as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at iShares.com. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at iShares.com/fundreports.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

The Markets in Review

Dear Shareholder,

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.

Total Returns as of July 31, 2022


	6-Month	12-Month
U.S. large cap equities (S&P 500^® Index)	(7.81)%	(4.64)%
U.S. small cap equities (Russell 2000^® Index)	(6.42)	(14.29)
International equities (MSCI Europe, Australasia, Far East Index)	(11.27)	(14.32)
Emerging market equities (MSCI Emerging Markets Index)	(16.24)	(20.09)
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)	0.21	0.22
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)	(6.38)	(10.00)
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)	(6.14)	(9.12)
Tax-exempt municipal bonds (Bloomberg Municipal Bond Index)	(3.95)	(6.93)
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)	(6.58)	(8.03)

Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

The iShares MSCI EAFE Growth ETF (the “Fund”) seeks to track the investment results of an index composed of developed market equities, excluding the U.S. and Canada, that exhibit growth characteristics, as represented by the MSCI EAFE Growth Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Growth-oriented stocks in developed markets outside the U.S. and Canada declined during the reporting period, as higher inflation, rising interest rates, and weakening global economies sent markets lower. Rising interest rates typically pressure high-valuation growth-oriented stocks by lowering the current value of future earnings. Russia’s invasion of Ukraine also increased investor uncertainty, as international sanctions on Russia disrupted global economic activity, unsettled commodities markets, and constrained companies that had connections to Russia. The combination of resilient consumer demand and persistent supply chain disruptions contributed to higher inflation in many countries. Inflationary pressure led some of the world’s central banks to adopt less accommodative stances regarding monetary policy. The Chinese government’s imposition of new lockdowns to quell the spread of COVID-19 pressured Asian stocks.

Japanese stocks detracted the most from the Index’s performance, particularly in the industrials and information technology sectors. Several companies in these sectors posted strong earnings but nevertheless detracted from the Index’s return due primarily to the weakness of the Japanese yen relative to the U.S. dollar. The Japanese yen hit a 24-year low in July 2022 against the U.S. dollar, weakening returns from the country as the Bank of Japan continued its low interest rate policy while some other central banks raised interest rates. Japan’s gross domestic product shrank in the first quarter as supply chain disruptions dampened exports and production. Lockdowns in China, Japan’s largest export market, idled factories and warehouses and slowed deliveries of goods.

European stocks, most notably in France, Germany, the Netherlands, and Switzerland, also detracted from the Index’s return. The decline of the euro, which reached parity with the U.S. dollar for the first time in 20 years, and a more modest weakening of the Swiss franc against the U.S. dollar devalued returns from the continent for U.S. investors. In addition, the war in Ukraine disrupted supply chains, clouded the outlook for economic growth, and contributed to record-high inflation across the Eurozone as commodities and oil prices soared. Late in the reporting period, the ECB and the Swiss central bank raised interest rates to fight growing inflation.

The iShares MSCI EAFE Value ETF (the “Fund”) seeks to track the investment results of an index composed of developed market equities, excluding the U.S. and Canada, that exhibit value characteristics, as represented by the MSCI EAFE Value Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Value-oriented stocks in developed markets outside the U.S. and Canada declined during the reporting period, as higher inflation, rising interest rates, and weakening global economies sent markets lower. Russia’s invasion of Ukraine also increased investor uncertainty, as international sanctions on Russia disrupted global economic activity, unsettled commodities markets, and constrained companies that had connections to Russia. The combination of resilient consumer demand and persistent supply chain disruptions contributed to higher inflation in many countries. Inflationary pressure led some of the world’s central banks to adopt less accommodative stances regarding monetary policy. The Chinese government’s imposition of new lockdowns to quell the spread of COVID-19 pressured Asian stocks.

German stocks detracted the most from the Index’s performance, particularly in the industrials, consumer discretionary, and materials sectors. The weakening euro, which reached parity with the U.S. dollar for the first time in 20 years, devalued returns from Germany for U.S. investors. In addition, the war in Ukraine disrupted supply chains, clouded the economic outlook, and contributed to record-high inflation across the Eurozone as commodities and energy prices soared. Some companies incurred significant costs related to exiting the Russian market, which weighed on earnings. The ECB raised interest rates in July 2022 for the first time in 11 years to fight growing inflation. Similar factors negatively impacted stocks across Europe. In France, the financials and consumer discretionary sectors detracted the most, and in Italy, utilities and financials stocks led the decline.

Japanese stocks also weighed on the Index’s return, most notably in the consumer discretionary sector. The Japanese yen hit a 24-year low in July 2022 against the U.S. dollar, weakening returns from the country as the Bank of Japan continued its low interest rate policy while other central banks raised interest rates. Japan’s gross domestic product shrank in the first quarter as supply chain disruptions dampened exports and production. Lockdowns in China, Japan’s largest export market, idled factories and warehouses and slowed deliveries of goods.

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.


Security	Shares		Value

Common Stocks

Australia — 7.9%
Ampol Ltd.		326,133	$	7,726,580
APA Group		817,223		6,700,698
Aristocrat Leisure Ltd.		830,706		20,724,495
ASX Ltd.		274,883		17,085,287
Brambles Ltd.		1,980,499		15,940,445
Cochlear Ltd.		90,761		13,680,122
Coles Group Ltd.		1,841,472		24,252,806
Commonwealth Bank of Australia		1,176,102		83,523,707
Computershare Ltd.		750,396		13,257,237
CSL Ltd.		663,466		135,092,943
Domino’s Pizza Enterprises Ltd.		82,147		4,200,164
Endeavour Group Ltd./Australia		1,856,936		10,345,796
Evolution Mining Ltd.		2,549,904		4,710,382
Goodman Group		2,317,073		33,910,504
IDP Education Ltd.^(a)		289,670		5,828,124
Macquarie Group Ltd.		330,371		42,281,993
Medibank Pvt Ltd.		1,913,200		4,600,351
Mineral Resources Ltd.		235,254		8,964,139
National Australia Bank Ltd.		4,450,002		96,104,505
Newcrest Mining Ltd.		1,227,976		16,548,519
Northern Star Resources Ltd.		1,599,921		8,792,572
Orica Ltd.		566,514		6,714,454
Qantas Airways Ltd.^(b)		649,555		2,093,093
QBE Insurance Group Ltd.		1,023,834		8,278,439
Ramsay Health Care Ltd.		164,671		8,135,037
REA Group Ltd.		73,244		6,461,902
Reece Ltd.^(a)		315,436		3,406,810
SEEK Ltd.		466,380		7,554,020
Sonic Healthcare Ltd.		629,188		15,151,800
Telstra Corp. Ltd.		1,996,355		5,456,057
Transurban Group		4,229,125		43,228,795
Treasury Wine Estates Ltd.		997,969		8,602,528
Washington H Soul Pattinson & Co. Ltd.		298,115		5,397,270
Wesfarmers Ltd.		1,562,459		51,194,769
WiseTech Global Ltd.		203,428		7,204,324
Woolworths Group Ltd.		1,669,781		43,930,405


				797,081,072

Austria — 0.1%
Verbund AG		94,095		10,347,203


Belgium — 0.8%
Anheuser-Busch InBev SA/NV		598,166		32,042,433
D’ieteren Group		34,508		5,663,663
Elia Group SA/NV		45,752		6,945,690
Groupe Bruxelles Lambert SA		91,546		8,103,201
Sofina SA		21,409		5,013,757
UCB SA		87,508		6,837,765
Umicore SA		287,999		10,432,005
Warehouses De Pauw CVA		206,095		7,006,034


				82,044,548

Denmark — 4.8%
AP Moller-Maersk A/S, Class A		2,751		7,369,860
Carlsberg A/S, Class B		48,693		6,298,045
Chr Hansen Holding A/S		145,885		9,548,583
Coloplast A/S, Class B		163,771		19,167,580
Demant A/S^(b)		133,332		5,079,379
DSV A/S		264,443		44,558,884
Genmab A/S^(b)		90,543		32,217,002


Security	Shares		Value

Denmark (continued)
GN Store Nord A/S		179,557	$	6,252,911
Novo Nordisk A/S, Class B		2,319,120		270,116,610
Novozymes A/S, Class B		283,600		18,116,442
Orsted A/S^(c)		91,496		10,651,656
Pandora A/S		131,382		9,760,593
Rockwool A/S, Class B		12,316		3,051,893
Tryg A/S		249,660		5,692,583
Vestas Wind Systems A/S		1,391,041		36,561,739


				484,443,760

Finland — 0.8%
Elisa OYJ		69,317		3,833,582
Kesko OYJ, Class B		377,671		9,340,999
Kone OYJ, Class B		162,420		7,422,827
Neste OYJ		582,857		29,971,255
Nokia OYJ		2,616,328		13,627,353
Orion OYJ, Class B		52,132		2,488,651
Stora Enso OYJ, Class R		760,744		11,765,429


				78,450,096

France — 13.5%
Accor SA^(b)		153,738		3,989,333
Aeroports de Paris^(b)		26,883		3,714,473
Air Liquide SA		720,248		99,021,401
Airbus SE		812,412		87,595,631
BioMerieux		57,420		6,214,988
Bureau Veritas SA		406,595		11,214,137
Capgemini SE		225,549		43,020,501
Cie. de Saint-Gobain		343,327		16,009,276
Dassault Aviation SA		34,759		4,971,323
Dassault Systemes SE		918,622		39,401,231
Edenred		344,173		17,666,572
Eiffage SA^(a)		57,803		5,424,175
EssilorLuxottica SA		257,412		40,357,655
Eurofins Scientific SE		185,753		14,481,000
Getlink SE		601,833		12,045,281
Hermes International		43,604		59,822,238
Ipsen SA		52,368		5,297,397
Kering SA		103,198		59,079,922
La Francaise des Jeux SAEM^(c)		143,370		5,120,893
Legrand SA		368,430		30,162,855
L’Oreal SA		331,837		125,453,407
LVMH Moet Hennessy Louis Vuitton SE		382,327		265,470,279
Pernod Ricard SA		288,459		56,666,138
Remy Cointreau SA		31,885		6,299,111
Safran SA		470,605		51,726,798
Sartorius Stedim Biotech		37,823		15,130,689
Schneider Electric SE		744,676		102,991,542
SEB SA		12,351		1,039,836
Sodexo SA		122,299		9,937,232
Teleperformance		80,915		27,058,051
Thales SA		147,084		18,291,309
Ubisoft Entertainment SA^(b)		65,618		2,793,647
Valeo		186,604		4,008,258
Veolia Environnement SA		916,226		22,915,583
Vinci SA		735,818		70,534,587
Vivendi SE		996,161		9,456,887
Wendel SE		36,484		3,357,974
Worldline SA/France^(b)(c)		328,968		14,520,031


				1,372,261,641


Security	Shares		Value

Germany — 4.9%
adidas AG		238,064	$	41,183,042
Bechtle AG		111,437		5,154,391
Beiersdorf AG		139,049		14,339,390
Brenntag SE		211,834		14,880,298
Carl Zeiss Meditec AG, Bearer		55,699		8,128,702
Delivery Hero SE^(b)(c)		144,746		6,983,467
Deutsche Boerse AG		267,656		46,723,450
Deutsche Lufthansa AG, Registered^(a)(b)		541,664		3,334,404
Deutsche Post AG, Registered		478,304		19,103,396
Deutsche Telekom AG, Registered		2,231,699		42,399,993
E.ON SE		1,086,637		9,767,889
GEA Group AG		212,403		7,928,491
HelloFresh SE^(b)		228,741		6,322,339
Infineon Technologies AG		1,799,055		49,338,122
Knorr-Bremse AG		65,636		3,910,301
Merck KGaA		178,029		33,907,514
MTU Aero Engines AG		73,718		14,250,675
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered		96,639		21,908,640
Nemetschek SE		80,167		5,366,905
Puma SE		145,947		9,854,890
QIAGEN NV^(b)		318,358		15,955,075
Rational AG		7,082		4,936,474
Rheinmetall AG		59,657		10,939,726
SAP SE		503,290		46,943,221
Scout24 SE^(c)		111,167		6,355,248
Siemens Healthineers AG^(c)		389,399		19,954,217
Symrise AG		183,048		21,359,066
Zalando SE^(b)(c)		307,998		8,671,104


				499,900,430

Hong Kong — 3.1%
AIA Group Ltd.		16,760,600		168,387,773
Budweiser Brewing Co. APAC Ltd.^(c)		2,536,000		7,022,019
ESR Group Ltd.^(b)(c)		2,969,800		7,722,745
Futu Holdings Ltd., ADR^(b)		116,405		4,842,448
Galaxy Entertainment Group Ltd.		3,090,000		18,382,635
Hong Kong Exchanges & Clearing Ltd.		1,417,700		65,058,869
Sands China Ltd.^(b)		3,758,800		8,816,416
SITC International Holdings Co. Ltd.		1,344,000		4,576,220
Techtronic Industries Co. Ltd.		1,981,500		21,987,954
WH Group Ltd.^(c)		4,676,500		3,541,686
Xinyi Glass Holdings Ltd.^(a)		1,114,000		2,197,179


				312,535,944

Ireland — 0.7%
Flutter Entertainment PLC, Class DI^(b)		229,142		23,005,721
James Hardie Industries PLC		614,901		15,186,030
Kerry Group PLC, Class A		219,369		23,154,642
Kingspan Group PLC		212,908		13,781,125


				75,127,518

Israel — 0.7%
Azrieli Group Ltd.		20,945		1,678,887
Check Point Software Technologies Ltd.^(a)(b)		142,396		17,742,542
Elbit Systems Ltd.		36,755		8,480,605
ICL Group Ltd.		979,026		8,921,293
Israel Discount Bank Ltd., Class A		603,290		3,430,222
Kornit Digital Ltd.^(a)(b)		65,620		1,785,520
Mizrahi Tefahot Bank Ltd.		107,068		3,980,364
Nice Ltd.^(b)		87,101		18,595,829
Tower Semiconductor Ltd.^(b)		151,051		7,200,289


Security	Shares		Value

Israel (continued)
Wix.com Ltd.^(a)(b)		39,816	$	2,362,283


				74,177,834

Italy — 1.0%
Amplifon SpA		172,754		5,712,652
Atlantia SpA		240,572		5,559,772
DiaSorin SpA		34,924		4,855,918
Ferrari NV		173,603		36,866,721
FinecoBank Banca Fineco SpA		297,483		3,697,108
Infrastrutture Wireless Italiane SpA^(c)		466,882		4,906,171
Moncler SpA		281,166		14,094,533
Nexi SpA^(b)(c)		726,469		6,597,820
Prysmian SpA		352,545		11,209,836
Recordati Industria Chimica e Farmaceutica SpA		144,871		6,424,926
Telecom Italia SpA/Milano^(a)(b)		9,103,120		2,019,613


				101,945,070

Japan — 21.9%
Advantest Corp.		261,700		15,565,126
Aeon Co. Ltd.		449,900		9,073,094
Ajinomoto Co. Inc.		642,200		16,900,121
ANA Holdings Inc.^(b)		111,000		2,072,223
Asahi Intecc Co. Ltd.		298,200		5,516,707
Astellas Pharma Inc.		897,800		14,060,791
Azbil Corp.		157,900		4,753,286
Bandai Namco Holdings Inc.		274,900		21,475,848
Capcom Co. Ltd.		241,200		6,704,764
Chubu Electric Power Co. Inc.		312,100		3,329,299
Chugai Pharmaceutical Co. Ltd.		925,500		25,999,872
CyberAgent Inc.		587,500		5,862,309
Daifuku Co. Ltd.		140,400		8,952,820
Daiichi Sankyo Co. Ltd.		2,414,100		64,009,145
Daikin Industries Ltd.		343,900		60,312,573
Denso Corp.		594,500		32,516,214
Disco Corp.		38,800		9,479,992
East Japan Railway Co.		143,900		7,512,582
Eisai Co. Ltd.		347,300		15,904,545
FANUC Corp.		263,700		45,477,824
Fast Retailing Co. Ltd.		80,400		48,689,459
Fuji Electric Co. Ltd.		60,800		2,746,086
Fujitsu Ltd.		270,200		36,223,646
GLP J-Reit		2,949		3,878,389
GMO Payment Gateway Inc.		58,000		4,819,969
Hakuhodo DY Holdings Inc.		162,900		1,675,532
Hamamatsu Photonics KK		194,800		8,851,882
Hankyu Hanshin Holdings Inc.		315,800		9,160,324
Hikari Tsushin Inc.		8,500		936,600
Hirose Electric Co. Ltd.		27,600		3,965,166
Hitachi Construction Machinery Co. Ltd.		147,800		3,260,743
Hitachi Metals Ltd.^(b)		193,600		2,976,959
Hoshizaki Corp.		76,600		2,285,132
Hoya Corp.		508,200		50,917,389
Ibiden Co. Ltd.		151,900		4,482,803
Isuzu Motors Ltd.		282,600		3,099,727
Ito En Ltd.		73,400		3,458,703
ITOCHU Corp.		1,061,300		30,894,083
Itochu Techno-Solutions Corp.		134,200		3,596,519
Japan Airlines Co. Ltd.^(b)		65,600		1,136,403
Japan Exchange Group Inc.		753,700		11,984,381
JSR Corp.		163,800		4,536,923
Kakaku.com Inc.		182,500		3,574,562


Security	Shares		Value

Japan (continued)
Kao Corp.		229,600	$	9,986,313
Keio Corp.		142,211		5,445,273
Keisei Electric Railway Co. Ltd.		192,000		5,264,031
Keyence Corp.		267,448		106,000,901
Kikkoman Corp.		200,800		11,906,378
Kintetsu Group Holdings Co. Ltd.		83,400		2,756,115
Kobayashi Pharmaceutical Co. Ltd.		73,500		4,896,562
Kobe Bussan Co. Ltd.		207,000		5,900,566
Koei Tecmo Holdings Co. Ltd.		81,850		2,857,411
Koito Manufacturing Co. Ltd.		144,200		4,740,098
Komatsu Ltd.		1,274,600		29,466,676
Konami Group Corp.		125,300		7,405,910
Kose Corp.		45,900		4,097,121
Kubota Corp.		492,400		8,175,484
Kurita Water Industries Ltd.		143,900		5,836,519
Kyowa Kirin Co. Ltd.		184,400		4,347,272
Lasertec Corp.		105,700		15,133,075
M3 Inc.		608,400		21,196,601
Makita Corp.		109,200		2,668,679
McDonald’s Holdings Co. Japan Ltd.		119,000		4,466,717
MINEBEA MITSUMI Inc.		499,400		8,983,269
MISUMI Group Inc.		389,900		9,700,049
Mitsubishi Heavy Industries Ltd.		440,500		16,356,849
Mitsui & Co. Ltd.		962,200		21,228,309
Mitsui Fudosan Co. Ltd.		1,254,300		28,032,869
MonotaRO Co. Ltd.		345,900		6,176,160
Murata Manufacturing Co. Ltd.		792,100		46,267,112
NEC Corp.		331,100		12,222,368
Nexon Co. Ltd.		679,500		15,426,078
Nidec Corp.		616,600		42,850,029
Nihon M&A Center Holdings Inc.		419,500		5,613,764
Nintendo Co. Ltd.		151,400		67,702,000
Nippon Paint Holdings Co. Ltd.		1,145,700		8,757,930
Nippon Prologis REIT Inc.		1,469		3,820,143
Nippon Sanso Holdings Corp.		237,800		4,009,945
Nippon Shinyaku Co. Ltd.		66,400		4,109,601
Nissan Chemical Corp.		176,400		9,019,884
Nissin Foods Holdings Co. Ltd.		86,300		6,250,370
Nitori Holdings Co. Ltd.		110,200		11,659,003
Nitto Denko Corp.		197,000		12,685,867
Nomura Research Institute Ltd.		463,170		13,915,618
NTT Data Corp.		870,100		13,168,963
Obic Co. Ltd.		95,400		15,251,563
Odakyu Electric Railway Co. Ltd.		406,400		5,828,757
Olympus Corp.		1,697,900		36,338,719
Omron Corp.		256,400		14,339,938
Ono Pharmaceutical Co. Ltd.		507,400		14,267,529
Open House Group Co. Ltd.		113,500		4,951,461
Oracle Corp. Japan		53,800		3,355,409
Oriental Land Co. Ltd./Japan		274,200		41,631,430
Otsuka Corp.		79,800		2,488,618
Otsuka Holdings Co. Ltd.		535,900		19,143,929
Pan Pacific International Holdings Corp.		524,300		8,163,597
Persol Holdings Co. Ltd.		242,900		5,028,462
Rakuten Group Inc.		606,200		3,005,259
Recruit Holdings Co. Ltd.		1,985,200		74,192,942
Renesas Electronics Corp.^(b)		1,606,200		15,298,810
Rohm Co. Ltd.		120,000		8,905,273
SCSK Corp.		140,800		2,479,523
Secom Co. Ltd.		186,100		12,429,631


Security	Shares		Value

Japan (continued)
Sekisui Chemical Co. Ltd.		182,200	$	2,563,456
SG Holdings Co. Ltd.		398,500		7,605,186
Shimadzu Corp.		325,400		11,577,383
Shimano Inc.		100,000		16,704,621
Shin-Etsu Chemical Co. Ltd.		517,500		66,288,765
Shionogi & Co. Ltd.		181,300		9,299,139
Shiseido Co. Ltd.		549,000		22,582,136
SMC Corp.		78,900		38,884,782
Sony Group Corp.		1,735,300		147,201,870
Square Enix Holdings Co. Ltd.		117,900		5,470,535
SUMCO Corp.		480,900		6,729,099
Sumitomo Metal Mining Co. Ltd.		223,000		7,011,968
Suntory Beverage & Food Ltd.		94,600		3,732,674
Sysmex Corp.		231,300		16,193,735
T&D Holdings Inc.		367,100		4,154,852
TDK Corp.		533,500		16,802,394
Terumo Corp.		886,500		30,268,293
TIS Inc.		312,700		8,866,334
Tobu Railway Co. Ltd.		260,400		6,183,167
Toho Co. Ltd./Tokyo		98,300		3,903,566
Tokio Marine Holdings Inc.		865,400		50,660,446
Tokyo Electric Power Co. Holdings Inc.^(b)		742,900		2,923,582
Tokyo Electron Ltd.		205,700		70,800,591
Tokyu Corp.		732,600		8,982,831
Toshiba Corp.		535,000		21,703,625
TOTO Ltd.		96,100		3,273,344
Trend Micro Inc/Japan		91,400		5,311,638
Unicharm Corp.		555,400		20,117,831
USS Co. Ltd.		150,300		2,949,264
Welcia Holdings Co. Ltd.		127,400		2,845,467
Yakult Honsha Co. Ltd.		176,400		10,742,670
Yamaha Corp.		193,600		8,257,824
Yamaha Motor Co. Ltd.		143,800		2,777,803
Yamato Holdings Co. Ltd.		402,400		7,041,598
Yaskawa Electric Corp.		329,400		11,536,870
Yokogawa Electric Corp.		204,400		3,624,680
Z Holdings Corp.		2,391,000		8,450,364
ZOZO Inc.		172,200		3,719,810


				2,217,979,440

Netherlands — 6.9%
Adyen NV^(b)(c)		29,813		53,626,784
Akzo Nobel NV		250,418		16,853,252
Argenx SE^(b)		43,359		15,839,104
ASM International NV		64,243		19,733,628
ASML Holding NV		559,786		321,741,413
Davide Campari-Milano NV		723,608		8,033,395
Euronext NV^(c)		124,291		10,127,052
Heineken Holding NV		49,108		3,880,453
Heineken NV		357,076		35,202,982
IMCD NV		78,801		12,619,892
JDE Peet’s NV		139,879		4,056,826
Just Eat Takeaway.com NV^(b)(c)		88,681		1,625,457
Koninklijke DSM NV		240,697		38,547,397
Koninklijke Philips NV		610,208		12,629,017
OCI NV		146,343		5,080,537
Prosus NV, Class N		1,143,127		74,571,877
Universal Music Group NV		1,004,767		22,744,406
Wolters Kluwer NV		361,510		39,260,803


				696,174,275


Security	Shares		Value

New Zealand — 0.3%
Auckland International Airport Ltd.^(b)		1,730,946	$	8,127,993
Fisher & Paykel Healthcare Corp. Ltd.		797,600		10,666,005
Xero Ltd.^(b)		185,753		12,237,164


				31,031,162

Norway — 0.4%
Adevinta ASA^(b)		406,921		3,094,372
Aker BP ASA		412,290		14,325,572
Kongsberg Gruppen ASA		124,298		4,580,223
Mowi ASA		570,007		13,152,962
Salmar ASA		81,691		5,851,421


				41,004,550

Portugal — 0.1%
Jeronimo Martins SGPS SA		391,726		9,067,260


Singapore — 1.4%
Capitaland Investment Ltd/Singapore		3,591,000		10,217,573
DBS Group Holdings Ltd.		1,248,500		28,488,706
Genting Singapore Ltd.		8,396,100		4,903,641
Grab Holdings Ltd., Class A^(a)(b)		1,509,133		4,451,942
Sea Ltd., ADR^(a)(b)		495,295		37,800,914
Singapore Airlines Ltd.^(a)(b)		1,206,800		4,774,281
Singapore Exchange Ltd.		657,000		4,709,764
Singapore Technologies Engineering Ltd.		2,161,100		6,301,248
Singapore Telecommunications Ltd.		11,388,800		21,537,050
United Overseas Bank Ltd.		570,900		11,390,216
Venture Corp. Ltd.^(a)		382,600		4,874,408


				139,449,743

Spain — 1.4%
Acciona SA		34,189		7,035,087
Aena SME SA^(b)(c)		103,572		13,100,785
Amadeus IT Group SA^(b)		402,034		23,442,684
Cellnex Telecom SA^(c)		748,878		33,496,626
EDP Renovaveis SA		259,586		6,751,645
Ferrovial SA		432,744		11,588,072
Industria de Diseno Textil SA		1,503,161		36,507,203
Repsol SA		702,544		8,752,472
Siemens Gamesa Renewable Energy SA^(b)		330,489		6,080,752


				146,755,326

Sweden — 4.5%
Alfa Laval AB		405,734		12,132,181
Assa Abloy AB, Class B		1,380,628		32,618,746
Atlas Copco AB, Class A		3,701,085		43,263,313
Atlas Copco AB, Class B		2,163,409		22,472,818
Embracer Group AB^(a)(b)		884,890		6,743,325
Epiroc AB, Class A		909,700		16,085,028
Epiroc AB, Class B		539,678		8,572,019
EQT AB		448,985		12,186,932
Evolution AB^(c)		251,750		24,427,499
Fastighets AB Balder, Class B^(b)		875,520		5,592,887
Getinge AB, Class B		316,779		7,148,409
Hexagon AB, Class B		2,683,181		31,593,228
Holmen AB, Class B		84,968		3,491,499
Industrivarden AB, Class A		114,281		2,981,824
Industrivarden AB, Class C		135,372		3,492,631
Indutrade AB		373,288		8,773,595
Investment AB Latour, Class B		205,676		5,117,492
Investor AB, Class A		688,734		14,160,559
Investor AB, Class B		2,508,840		46,819,268
Kinnevik AB, Class B^(b)		329,926		5,942,585


Security	Shares		Value

Sweden (continued)
L E Lundbergforetagen AB, Class B		37,323	$	1,771,330
Lifco AB, Class B		323,291		6,293,181
Nibe Industrier AB, Class B		2,085,139		21,005,909
Sagax AB, Class B		263,721		6,796,642
Sandvik AB		1,470,834		27,101,851
Sinch AB^(a)(b)(c)		778,326		1,973,354
Svenska Cellulosa AB SCA, Class B		413,659		6,047,520
Swedish Match AB		2,177,964		22,800,060
Swedish Orphan Biovitrum AB^(b)		234,452		5,148,796
Telefonaktiebolaget LM Ericsson, Class B		4,022,358		30,595,034
Volvo AB, Class A		278,063		5,181,294
Volvo Car AB, Class B^(a)(b)		825,930		6,149,690


				454,480,499

Switzerland — 14.5%
ABB Ltd., Registered		1,470,303		44,696,623
Alcon Inc.		688,134		54,158,954
Bachem Holding AG, Class A		43,279		2,918,453
Barry Callebaut AG, Registered		4,920		10,901,058
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS		1,469		16,245,174
Chocoladefabriken Lindt & Spruengli AG, Registered		149		17,182,991
Cie. Financiere Richemont SA, Class A, Registered		719,486		86,753,823
Clariant AG, Registered		195,352		3,660,025
Credit Suisse Group AG, Registered		1,449,388		8,430,460
EMS-Chemie Holding AG, Registered		9,694		7,697,857
Geberit AG, Registered		49,244		25,935,665
Givaudan SA, Registered		12,726		44,484,454
Kuehne + Nagel International AG, Registered		74,894		20,170,551
Logitech International SA, Registered		238,831		13,437,149
Lonza Group AG, Registered		102,709		62,421,530
Nestle SA, Registered		3,876,705		475,002,089
Partners Group Holding AG		31,764		34,678,218
Roche Holding AG, Bearer		36,816		15,008,581
Roche Holding AG, NVS		967,569		321,237,278
Schindler Holding AG, Participation Certificates, NVS		28,232		5,518,193
Schindler Holding AG, Registered		21,228		4,030,916
SGS SA, Registered		4,385		10,701,450
Siemens Energy AG^(b)		297,798		4,948,654
Sika AG, Registered		199,851		49,380,675
Sonova Holding AG, Registered		73,970		26,642,645
STMicroelectronics NV		941,406		35,626,121
Straumann Holding AG		153,217		20,722,674
Swiss Re AG		207,992		15,607,054
Temenos AG, Registered		87,990		6,983,987
VAT Group AG^(c)		37,319		10,866,224
Vifor Pharma AG^(b)		59,522		10,399,232


				1,466,448,758

United Kingdom — 9.9%
Ashtead Group PLC		611,996		34,449,076
Associated British Foods PLC		490,162		10,011,738
AstraZeneca PLC		1,066,866		140,336,842
Auto Trader Group PLC^(c)		1,301,437		10,033,446
AVEVA Group PLC		166,090		4,805,067
Barclays PLC		8,020,958		15,364,647
Bunzl PLC		464,215		17,422,291
Burberry Group PLC		550,026		12,091,529
CNH Industrial NV		1,411,191		18,179,890
Coca-Cola Europacific Partners PLC		283,549		15,345,672
Compass Group PLC		2,457,110		57,585,896


Security	Shares		Value

United Kingdom (continued)
Croda International PLC		192,239	$	17,580,256
Diageo PLC		3,188,601		151,049,949
Entain PLC^(b)		807,129		11,876,945
Experian PLC		1,269,050		44,432,300
Ferguson PLC		301,854		37,972,838
Halma PLC		523,305		14,737,774
Hikma Pharmaceuticals PLC		239,091		5,053,666
Informa PLC^(b)		2,059,518		14,978,140
InterContinental Hotels Group PLC		253,690		15,037,496
Intertek Group PLC		222,031		11,866,491
JD Sports Fashion PLC		3,551,395		5,640,900
London Stock Exchange Group PLC		458,527		44,748,878
Melrose Industries PLC		6,020,871		11,851,838
Next PLC		182,145		15,163,897
NMC Health PLC, NVS^(d)		50,450		1
Ocado Group PLC^(a)(b)		396,817		4,079,379
Prudential PLC		3,787,767		46,719,780
Reckitt Benckiser Group PLC		491,740		39,887,359
RELX PLC		2,664,286		78,888,018
Rentokil Initial PLC		2,560,498		16,906,861
Rolls-Royce Holdings PLC^(b)		11,523,029		12,593,966
Sage Group PLC (The)		911,099		7,851,954
Segro PLC		1,076,273		14,398,358
Severn Trent PLC		223,849		8,047,780
Smith & Nephew PLC		423,916		5,435,092
Spirax-Sarco Engineering PLC		101,284		14,778,240
Tesco PLC		3,678,595		11,797,753
Whitbread PLC		139,066		4,426,446

				1,003,428,449


Total Common Stocks — 99.6% (Cost: $10,010,508,784)				10,094,134,578


Preferred Stocks

Germany — 0.2%
Sartorius AG, Preference Shares, NVS		33,638		15,046,252


Total Preferred Stocks — 0.2% (Cost: $10,287,829)				15,046,252


Total Long-Term Investments — 99.8% (Cost: $10,020,796,613)				10,109,180,830


Security	Shares		Value

Short-Term Securities

Money Market Funds — 0.3%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		30,383,933	$	30,380,895
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		2,190,000		2,190,000


Total Short-Term Securities — 0.3% (Cost: $32,565,899)				32,570,895


Total Investments in Securities — 100.1% (Cost: $10,053,362,512)				10,141,751,725

Liabilities in Excess of Other Assets — (0.1)%				(6,133,786	)


Net Assets — 100.0%			$	10,135,617,939

^(a)	All or a portion of this security is on loan.

^(b)	Non-income producing security.

^(c)	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.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Australia — 9.6%
APA Group		1,197,144	$	9,815,804
Aurizon Holdings Ltd.		3,734,684		10,570,259
Australia & New Zealand Banking Group Ltd.		5,704,460		92,191,265
Australia & New Zealand Banking Group Ltd., New		383,614		6,137,914
BHP Group Ltd.		10,212,034		279,455,945
BlueScope Steel Ltd.		993,651		11,671,801
Commonwealth Bank of Australia		1,721,078		122,226,487
Dexus		2,176,227		14,624,255
Fortescue Metals Group Ltd.		3,410,295		43,885,578
Glencore PLC		19,948,658		113,062,988
GPT Group (The)		3,847,247		12,377,361
Insurance Australia Group Ltd.		4,984,070		15,682,693
Lendlease Corp. Ltd.		1,383,312		10,021,594
Lottery Corp. Ltd. (The)^(a)		4,502,166		14,281,316
Macquarie Group Ltd.		257,980		33,017,149
Medibank Pvt Ltd.		2,816,896		6,773,317
Mirvac Group		7,918,644		11,996,635
Origin Energy Ltd.		3,666,053		15,391,424
Qantas Airways Ltd.^(a)		944,152		3,042,388
QBE Insurance Group Ltd.		1,498,345		12,115,203
Ramsay Health Care Ltd.		128,674		6,356,722
Rio Tinto Ltd.		748,761		51,877,567
Rio Tinto PLC		2,261,550		136,528,590
Santos Ltd.		6,489,601		33,735,411
Scentre Group		10,479,523		21,475,082
South32 Ltd.		9,340,957		25,459,844
Stockland		4,794,769		12,992,321
Suncorp Group Ltd.		2,549,322		20,132,731
Telstra Corp. Ltd.		5,368,629		14,672,512
Vicinity Centres		7,771,847		11,371,727
Westpac Banking Corp.		7,062,403		106,946,967
Woodside Energy Group Ltd.		3,801,111		85,830,906


				1,365,721,756

Austria — 0.2%
Erste Group Bank AG		694,214		17,600,182
OMV AG		301,467		12,839,456
voestalpine AG		239,246		5,387,013

				35,826,651

Belgium — 0.8%
Ageas SA/NV		328,387		14,332,547
Anheuser-Busch InBev SA/NV		872,550		46,740,578
Groupe Bruxelles Lambert SA		72,599		6,426,106
KBC Group NV		504,470		26,422,606
Proximus SADP		304,969		4,225,954
Solvay SA		151,731		13,326,977
UCB SA		128,115		10,010,746


				121,485,514

Denmark — 0.8%
AP Moller - Maersk A/S, Class A		2,182		5,845,523
AP Moller - Maersk A/S, Class B, NVS		10,737		29,315,587
Carlsberg A/S, Class B		131,995		17,072,483
Danske Bank A/S		1,393,493		19,487,021
Orsted A/S^(b)		254,511		29,629,313
Tryg A/S		362,248		8,259,741


				109,609,668

Finland — 1.7%
Elisa OYJ		185,674		10,268,715


Security	Shares		Value

Finland (continued)
Fortum OYJ		924,605	$	10,378,035
Kone OYJ, Class B		445,969		20,381,422
Nokia OYJ		7,094,476		36,952,145
Nordea Bank Abp		6,674,655		65,811,867
Orion OYJ, Class B		142,563		6,805,600
Sampo OYJ, Class A		1,001,985		43,288,489
UPM-Kymmene OYJ		1,076,498		34,113,962
Wartsila OYJ Abp		950,638		8,352,811


				236,353,046

France — 8.5%
Accor SA^(a)		122,747		3,185,150
Aeroports de Paris^(a)		21,556		2,978,432
Alstom SA		641,288		15,240,653
Amundi SA^(b)		124,600		6,765,133
ArcelorMittal SA		1,229,429		30,334,849
Arkema SA		120,425		11,408,528
AXA SA		3,907,709		90,043,420
BNP Paribas SA		2,240,879		105,875,458
Bollore SE		1,796,901		9,072,300
Bouygues SA		460,933		13,933,881
Carrefour SA		1,246,880		21,249,383
Cie Generale des Etablissements Michelin SCA		1,370,060		38,340,532
Cie. de Saint-Gobain		499,989		23,314,396
Covivio		94,928		6,003,586
Credit Agricole SA^(c)		2,512,458		23,149,359
Danone SA		1,317,782		72,661,386
Eiffage SA		83,628		7,847,566
Electricite de France SA^(c)		1,144,059		13,893,737
Engie SA		3,683,972		45,579,346
EssilorLuxottica SA		202,183		31,698,723
Eurazeo SE		87,484		6,248,764
Gecina SA		92,260		9,459,473
Klepierre SA		432,048		9,600,126
Orange SA		4,007,974		40,955,207
Publicis Groupe SA		458,235		24,385,132
Renault SA^(a)		389,771		11,523,336
Sanofi		2,294,033		227,966,135
SEB SA		33,425		2,814,065
Societe Generale SA		1,606,315		35,991,721
TotalEnergies SE		5,001,336		255,455,008
Ubisoft Entertainment SA^(a)		96,319		4,100,724
Unibail-Rodamco-Westfield^(a)		238,592		13,548,384
Valeo		144,743		3,109,083


				1,217,732,976

Germany — 9.3%
Allianz SE, Registered		823,952		149,634,698
Aroundtown SA^(c)		2,005,686		6,432,304
BASF SE		1,852,720		82,566,789
Bayer AG, Registered		1,981,758		115,596,413
Bayerische Motoren Werke AG		666,460		54,458,663
Commerzbank AG^(a)		2,150,761		14,735,139
Continental AG		222,366		15,841,610
Covestro AG^(b)		390,951		13,184,971
Daimler Truck Holding AG^(a)		909,271		24,845,790
Delivery Hero SE^(a)(b)		117,387		5,663,495
Deutsche Bank AG, Registered		4,174,100		36,510,651
Deutsche Lufthansa AG, Registered^(a)(c)		430,057		2,647,367
Deutsche Post AG, Registered		1,299,602		51,905,925
Deutsche Telekom AG, Registered		3,255,906		61,858,876


Security	Shares		Value

Germany (continued)
E.ON SE		2,943,169	$	26,456,440
Evonik Industries AG		421,097		8,981,867
Fresenius Medical Care AG & Co. KGaA		413,959		15,346,898
Fresenius SE & Co. KGaA		844,766		21,616,680
Hannover Rueck SE		121,802		17,277,251
HeidelbergCement AG		296,564		15,106,080
Henkel AG & Co. KGaA		210,314		13,261,306
KION Group AG		147,503		6,727,997
Knorr-Bremse AG		52,471		3,125,989
LEG Immobilien SE		147,397		13,390,317
Mercedes-Benz Group AG		1,618,536		95,451,512
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered		141,552		32,090,687
RWE AG		1,295,771		53,305,356
SAP SE		1,369,179		127,707,032
Siemens AG, Registered		1,543,189		172,133,414
Telefonica Deutschland Holding AG		2,090,260		5,557,226
Uniper SE^(c)		186,678		1,247,270
United Internet AG, Registered		194,712		5,128,942
Volkswagen AG		59,269		11,739,269
Vonovia SE		1,409,768		46,973,177


				1,328,507,401

Hong Kong — 2.9%
BOC Hong Kong Holdings Ltd.		7,436,000		26,898,352
Chow Tai Fook Jewellery Group Ltd.^(c)		4,020,000		7,950,585
CK Asset Holdings Ltd.		4,026,500		28,506,521
CK Hutchison Holdings Ltd.		5,418,000		35,939,093
CK Infrastructure Holdings Ltd.		1,282,000		8,039,132
CLP Holdings Ltd.		3,323,500		28,181,849
Hang Lung Properties Ltd.		4,059,088		7,405,783
Hang Seng Bank Ltd.^(c)		1,535,800		24,773,399
Henderson Land Development Co. Ltd.		2,919,794		10,164,228
HK Electric Investments & HK Electric Investments Ltd., Class SS		5,420,500		4,902,680
HKT Trust & HKT Ltd., Class SS		7,613,000		10,666,690
Hong Kong & China Gas Co. Ltd.^(c)		23,184,650		24,486,055
Hongkong Land Holdings Ltd.		2,296,200		11,935,785
Jardine Matheson Holdings Ltd.		430,300		22,726,645
Link REIT		4,240,400		35,510,505
MTR Corp. Ltd.		3,131,000		16,580,224
New World Development Co. Ltd.		3,035,250		10,149,563
Power Assets Holdings Ltd.		2,804,000		18,359,876
Sino Land Co. Ltd.		6,952,000		10,329,539
SITC International Holdings Co. Ltd.		969,000		3,299,373
Sun Hung Kai Properties Ltd.		2,924,500		34,910,138
Swire Pacific Ltd., Class A		1,006,000		5,729,291
Swire Properties Ltd.		2,350,800		5,601,321
WH Group Ltd.^(b)		10,892,500		8,249,292
Wharf Real Estate Investment Co. Ltd.		3,377,419		15,033,592
Xinyi Glass Holdings Ltd.		2,406,000		4,745,433


				421,074,944

Ireland — 0.5%
CRH PLC		1,545,175		59,294,763
Smurfit Kappa Group PLC		503,812		18,261,874


				77,556,637

Israel — 0.8%
Azrieli Group Ltd.		56,840		4,556,121
Bank Hapoalim BM		2,606,346		24,291,155
Bank Leumi Le-Israel BM		3,107,140		30,212,614


Security	Shares		Value

Israel (continued)
CyberArk Software Ltd.^(a)(c)		80,546	$	10,481,451
Isracard Ltd.		1		3
Israel Discount Bank Ltd., Class A		1,617,543		9,197,121
Mizrahi Tefahot Bank Ltd.		159,332		5,923,333
Teva Pharmaceutical Industries Ltd., ADR^(a)(c)		2,228,822		20,906,350
Wix.com Ltd.^(a)(c)		56,502		3,352,264
ZIM Integrated Shipping Services Ltd.		170,536		8,496,103


				117,416,515

Italy — 3.1%
Assicurazioni Generali SpA		2,229,136		33,324,791
Atlantia SpA		651,084		15,046,965
Enel SpA		16,406,030		82,707,132
Eni SpA		5,090,980		61,196,527
FinecoBank Banca Fineco SpA		796,140		9,894,399
Intesa Sanpaolo SpA		33,244,387		59,035,658
Mediobanca Banca di Credito Finanziario SpA		1,226,408		10,518,546
Poste Italiane SpA^(b)		1,059,721		8,901,989
Snam SpA		4,177,854		20,962,517
Stellantis NV		4,406,285		63,275,363
Telecom Italia SpA/Milano^(a)(c)		6,989,946		1,550,785
Tenaris SA		955,987		13,378,114
Terna - Rete Elettrica Nazionale		2,838,768		21,733,050
UniCredit SpA		4,265,575		42,185,198


				443,711,034

Japan — 22.8%
Aeon Co. Ltd.		662,400		13,358,563
AGC Inc.		391,400		14,267,792
Aisin Corp.		296,200		8,796,720
ANA Holdings Inc.^(a)		160,600		2,998,189
Asahi Group Holdings Ltd.		921,100		32,023,276
Asahi Kasei Corp.		2,534,800		20,335,190
Astellas Pharma Inc.		2,440,300		38,218,477
Bridgestone Corp.		1,152,200		44,942,545
Brother Industries Ltd.		480,000		8,991,087
Canon Inc.		2,018,100		47,743,844
Central Japan Railway Co.		289,900		33,946,384
Chiba Bank Ltd. (The)		1,066,900		5,917,940
Chubu Electric Power Co. Inc.		851,200		9,080,100
Concordia Financial Group Ltd.		2,189,100		7,447,313
Dai Nippon Printing Co. Ltd.		446,400		9,850,855
Dai-ichi Life Holdings Inc.		2,024,400		35,214,190
Daito Trust Construction Co. Ltd.		124,800		11,831,359
Daiwa House Industry Co. Ltd.		1,204,800		29,768,282
Daiwa House REIT Investment Corp.		4,430		10,662,103
Daiwa Securities Group Inc.		2,754,800		12,716,776
Dentsu Group Inc.		437,800		15,293,034
East Japan Railway Co.		396,900		20,720,944
ENEOS Holdings Inc.		6,167,050		23,856,629
Fuji Electric Co. Ltd.		165,700		7,483,987
FUJIFILM Holdings Corp.		725,700		41,453,451
GLP J-Reit		4,288		5,639,380
Hakuhodo DY Holdings Inc.		239,000		2,458,270
Hikari Tsushin Inc.		27,600		3,041,194
Hirose Electric Co. Ltd.		22,190		3,187,936
Hitachi Ltd.		1,953,600		98,906,949
Hitachi Metals Ltd.^(a)		153,500		2,360,347
Honda Motor Co. Ltd.		3,288,600		84,277,536
Hoshizaki Corp.		109,400		3,263,622
Hulic Co. Ltd.		772,700		6,197,123


Security	Shares		Value

Japan (continued)
Idemitsu Kosan Co. Ltd.		423,183	$	11,004,790
Iida Group Holdings Co. Ltd.		294,900		4,828,224
Inpex Corp.		2,090,200		23,957,397
Isuzu Motors Ltd.		771,000		8,456,791
ITOCHU Corp.		835,800		24,329,855
Japan Airlines Co. Ltd.^(a)		191,400		3,315,662
Japan Metropolitan Fund Invest		14,050		11,449,216
Japan Post Bank Co. Ltd.^(c)		829,400		6,634,917
Japan Post Holdings Co. Ltd.		4,937,700		35,550,606
Japan Post Insurance Co. Ltd.		401,500		6,491,393
Japan Real Estate Investment Corp.		2,527		12,202,785
Japan Tobacco Inc.		2,420,900		43,468,740
JFE Holdings Inc.		997,400		11,245,533
JSR Corp.		127,400		3,528,718
Kajima Corp.		849,900		9,702,205
Kansai Electric Power Co. Inc. (The)		1,426,000		14,457,826
Kao Corp.		620,500		26,988,271
KDDI Corp.		3,254,400		104,343,608
Kintetsu Group Holdings Co. Ltd.		224,200		7,409,124
Kirin Holdings Co. Ltd.		1,659,300		27,292,747
Kubota Corp.		1,339,300		22,236,852
Kyocera Corp.		646,800		35,954,879
Kyowa Kirin Co. Ltd.		275,500		6,494,975
Lixil Corp.		599,000		12,396,446
Makita Corp.		292,700		7,153,135
Marubeni Corp.		3,144,100		29,247,255
Mazda Motor Corp.		1,154,900		9,735,311
MEIJI Holdings Co. Ltd.		230,100		12,013,522
Mitsubishi Chemical Group Corp.		2,590,100		14,565,496
Mitsubishi Corp.		2,547,100		75,697,970
Mitsubishi Electric Corp.		3,892,500		41,082,327
Mitsubishi Estate Co. Ltd.		2,385,500		35,428,509
Mitsubishi HC Capital Inc.		1,327,500		6,432,933
Mitsubishi UFJ Financial Group Inc.		24,111,400		135,855,484
Mitsui & Co. Ltd.		1,407,900		31,061,460
Mitsui Chemicals Inc.		370,200		7,797,979
Mitsui OSK Lines Ltd.		695,300		19,065,754
Mizuho Financial Group Inc.		4,865,620		58,029,201
MS&AD Insurance Group Holdings Inc.		898,408		29,136,573
NGK Insulators Ltd.		478,000		6,991,335
Nippon Building Fund Inc.		3,097		16,428,801
Nippon Express Holdings Inc.		154,800		9,250,136
Nippon Prologis REIT Inc.		2,147		5,583,286
Nippon Steel Corp.		1,623,800		24,162,516
Nippon Telegraph & Telephone Corp.		2,411,200		68,876,696
Nippon Yusen KK		324,600		25,497,756
Nissan Motor Co. Ltd.		4,690,800		17,838,460
Nisshin Seifun Group Inc.		405,830		4,995,541
Nomura Holdings Inc.		5,874,600		22,414,603
Nomura Real Estate Holdings Inc.		238,400		5,783,432
Nomura Real Estate Master Fund Inc.		8,528		10,683,795
Obayashi Corp.		1,305,900		9,604,158
Oji Holdings Corp.		1,633,000		6,808,229
ORIX Corp.		2,407,700		42,909,594
Osaka Gas Co. Ltd.		759,200		13,648,971
Otsuka Corp.		115,300		3,595,709
Panasonic Holdings Corp.		4,453,400		36,767,873
Rakuten Group Inc.		885,600		4,390,395
Resona Holdings Inc.		4,367,900		16,974,738
Ricoh Co. Ltd.		1,152,900		9,272,844


Security	Shares		Value

Japan (continued)
SBI Holdings Inc/Japan		501,500	$	10,174,145
SCSK Corp.		110,600		1,947,693
Secom Co. Ltd.		147,700		9,864,893
Seiko Epson Corp.		568,000		8,532,879
Sekisui Chemical Co. Ltd.		493,500		6,943,279
Sekisui House Ltd.		1,238,700		21,939,106
Seven & i Holdings Co. Ltd.		1,519,800		61,947,363
Sharp Corp./Japan		492,200		3,961,718
Shimizu Corp.		1,109,200		6,287,657
Shionogi & Co. Ltd.		268,000		13,746,107
Shizuoka Bank Ltd. (The)		897,700		5,432,357
SoftBank Corp.		5,793,400		66,984,748
SoftBank Group Corp.		2,433,300		102,215,084
Sompo Holdings Inc.		631,100		28,166,754
Subaru Corp.		1,237,100		21,526,659
Sumitomo Chemical Co. Ltd.		2,994,400		11,767,782
Sumitomo Corp.		2,271,200		31,932,963
Sumitomo Electric Industries Ltd.		1,446,300		16,124,491
Sumitomo Metal Mining Co. Ltd.		177,100		5,568,697
Sumitomo Mitsui Financial Group Inc.		2,633,500		82,618,400
Sumitomo Mitsui Trust Holdings Inc.		682,005		22,403,350
Sumitomo Realty & Development Co. Ltd.		625,800		17,280,254
Suntory Beverage & Food Ltd.		139,800		5,516,150
Suzuki Motor Corp.		743,400		24,368,154
T&D Holdings Inc.		532,700		6,029,119
Taisei Corp.		383,600		12,239,450
Takeda Pharmaceutical Co. Ltd.		3,031,800		88,953,593
Toho Co. Ltd./Tokyo		80,100		3,180,831
Tokyo Electric Power Co. Holdings Inc.^(a)		2,047,300		8,056,871
Tokyo Gas Co. Ltd.		802,700		15,765,756
Toppan Inc.		527,200		8,970,546
Toray Industries Inc.		2,787,600		15,268,625
Tosoh Corp.		522,700		6,813,498
TOTO Ltd.		142,300		4,847,002
Toyota Industries Corp.		296,400		18,047,633
Toyota Motor Corp.		21,392,780		347,226,722
Toyota Tsusho Corp.		429,800		14,668,833
Trend Micro Inc/Japan		134,500		7,816,360
USS Co. Ltd.		220,400		4,324,803
West Japan Railway Co.		442,800		16,264,361
Yamaha Motor Co. Ltd.		394,600		7,622,539
Yokogawa Electric Corp.		164,500		2,917,123
Z Holdings Corp.		1,870,800		6,611,853


				3,247,650,925

Malta — 0.0%
BGP Holdings PLC, NVS^(a)(d)		2,256,851		23


Netherlands — 2.1%
ABN AMRO Bank NV, CVA^(b)		858,977		8,759,756
Aegon NV		3,619,768		15,898,761
AerCap Holdings NV^(a)(c)		275,692		12,367,543
Argenx SE^(a)		34,050		12,438,513
EXOR NV		219,527		15,439,866
Heineken Holding NV		133,077		10,515,579
ING Groep NV		7,875,032		76,496,675
Just Eat Takeaway.com NV^(a)(b)		243,235		4,458,316
Koninklijke Ahold Delhaize NV		2,109,318		58,087,927
Koninklijke KPN NV		6,638,120		21,899,094
Koninklijke Philips NV		892,670		18,474,921
NN Group NV		574,900		26,975,684


Security	Shares		Value

Netherlands (continued)
Randstad NV		244,926	$	12,379,290


				294,191,925

New Zealand — 0.2%
Mercury NZ Ltd.		1,394,052		5,332,132
Meridian Energy Ltd.		2,620,831		8,224,808
Spark New Zealand Ltd.		3,754,622		12,073,268


				25,630,208

Norway — 1.3%
DNB Bank ASA		1,874,290		36,971,810
Equinor ASA		1,971,342		75,904,322
Gjensidige Forsikring ASA		409,236		8,559,478
Norsk Hydro ASA		2,717,344		18,410,632
Orkla ASA		1,520,491		13,125,290
Telenor ASA		1,405,455		17,068,053
Yara International ASA		338,949		14,445,107


				184,484,692

Portugal — 0.3%
EDP - Energias de Portugal SA		5,677,587		28,722,360
Galp Energia SGPS SA		1,015,277		10,716,837


				39,439,197

Singapore — 1.5%
Ascendas Real Estate Investment Trust		6,884,200		14,817,954
CapitaLand Integrated Commercial Trust		10,884,904		17,195,099
City Developments Ltd.		839,300		4,715,384
DBS Group Holdings Ltd.		1,829,300		41,741,601
Keppel Corp. Ltd.		2,983,700		14,907,111
Mapletree Commercial Trust		4,648,100		6,402,628
Mapletree Logistics Trust^(c)		6,673,300		8,517,085
Oversea-Chinese Banking Corp. Ltd.^(c)		6,830,500		57,886,421
Singapore Airlines Ltd.^(a)(c)		962,600		3,808,190
Singapore Exchange Ltd.		260,500		1,867,418
United Overseas Bank Ltd.		1,547,700		30,878,679
UOL Group Ltd.		970,100		5,241,332
Wilmar International Ltd.		3,936,400		11,470,300


				219,449,202

Spain — 3.3%
ACS Actividades de Construccion y Servicios SA		477,973		11,489,350
Amadeus IT Group SA^(a)		334,555		19,507,969
Banco Bilbao Vizcaya Argentaria SA		13,604,347		61,650,401
Banco Santander SA		35,233,520		88,149,699
CaixaBank SA		8,962,243		26,911,232
EDP Renovaveis SA		206,192		5,362,906
Enagas SA		186,158		3,674,509
Endesa SA		702,226		12,871,395
Ferrovial SA		382,193		10,234,411
Grifols SA^(c)		665,951		9,717,306
Iberdrola SA		11,797,891		125,983,465
Iberdrola SA, NVS		333,436		3,554,424
Naturgy Energy Group SA^(c)		335,246		9,833,465
Red Electrica Corp. SA		389,421		7,656,166
Repsol SA		1,908,384		23,775,133
Telefonica SA		11,195,637		49,973,860


				470,345,691

Sweden — 2.2%
Boliden AB		552,416		18,461,117
Electrolux AB, Class B		461,297		6,653,665
Essity AB, Class B		1,228,268		31,265,655
H & M Hennes & Mauritz AB, Class B		1,475,284		18,875,577


Security	Shares		Value

Sweden (continued)
Holmen AB, Class B		67,921	$	2,791,005
Husqvarna AB, Class B		841,224		6,704,330
Industrivarden AB, Class A		95,959		2,503,766
Industrivarden AB, Class C		108,133		2,789,858
L E Lundbergforetagen AB, Class B		100,988		4,792,838
Securitas AB, Class B		640,498		6,476,919
Skandinaviska Enskilda Banken AB, Class A		3,279,443		35,527,606
Skanska AB, Class B		683,321		11,657,424
SKF AB, Class B		776,532		13,068,597
Svenska Cellulosa AB SCA, Class B		615,042		8,991,654
Svenska Handelsbanken AB, Class A		2,930,089		26,347,099
Swedbank AB, Class A		1,819,234		25,196,672
Tele2 AB, Class B		1,161,076		13,263,707
Telia Co. AB		5,365,367		19,821,526
Volvo AB, Class B		3,031,742		54,431,964


				309,620,979

Switzerland — 6.7%
ABB Ltd., Registered		1,159,473		35,247,515
Adecco Group AG, Registered		324,698		11,438,138
Baloise Holding AG, Registered		92,717		14,772,513
Clariant AG, Registered		155,785		2,918,716
Coca-Cola HBC AG, Class DI		411,170		10,119,555
Credit Suisse Group AG, Registered		3,511,798		20,426,603
Holcim AG		1,114,132		52,240,139
Julius Baer Group Ltd.		446,937		23,111,132
Novartis AG, Registered		4,419,821		379,793,582
Schindler Holding AG, Participation Certificates, NVS		40,999		8,013,616
Schindler Holding AG, Registered		17,070		3,241,367
SGS SA, Registered		6,444		15,726,372
Siemens Energy AG^(a)		443,624		7,371,916
Swatch Group AG (The), Bearer		59,316		15,790,916
Swatch Group AG (The), Registered		107,966		5,391,681
Swiss Life Holding AG, Registered		63,594		33,688,048
Swiss Prime Site AG, Registered		155,475		14,158,111
Swiss Re AG		303,225		22,753,033
Swisscom AG, Registered		52,076		28,154,229
UBS Group AG, Registered		7,095,111		115,936,402
Zurich Insurance Group AG		303,519		132,494,641


				952,788,225

United Kingdom — 20.1%
3i Group PLC		1,976,132		30,704,640
abrdn PLC		4,057,996		8,227,272
Admiral Group PLC		364,738		8,524,503
Anglo American PLC		2,564,283		92,685,621
Antofagasta PLC		799,069		11,369,698
AstraZeneca PLC		1,562,840		205,577,860
Aviva PLC		5,707,380		27,639,834
BAE Systems PLC		6,347,396		59,657,513
Barclays PLC		21,972,090		42,088,914
Barratt Developments PLC		2,071,485		12,701,715
Berkeley Group Holdings PLC		227,363		11,782,737
BP PLC		39,282,643		192,259,455
British American Tobacco PLC		4,391,877		172,089,692
British Land Co. PLC (The)		1,787,449		10,747,461
BT Group PLC		13,961,157		27,563,829
DCC PLC		199,753		13,041,735
GSK PLC		8,204,158		172,371,023
Haleon PLC^(a)		10,230,227		36,353,520
Hargreaves Lansdown PLC		735,997		7,619,603


Security	Shares		Value

United Kingdom (continued)
HSBC Holdings PLC		40,855,117	$	255,914,692
Imperial Brands PLC		1,822,886		40,023,886
J Sainsbury PLC		3,553,462		9,585,714
Johnson Matthey PLC		376,470		9,842,614
Kingfisher PLC		4,151,263		13,134,060
Land Securities Group PLC		1,427,722		12,758,165
Legal & General Group PLC		12,019,249		38,383,675
Lloyds Banking Group PLC		143,213,572		79,291,352
M&G PLC		5,265,939		13,726,733
Mondi PLC		981,004		18,616,724
National Grid PLC		7,352,934		101,246,912
NatWest Group PLC		11,363,143		34,512,776
Ocado Group PLC^(a)		591,156		6,077,233
Pearson PLC		1,379,560		12,768,175
Persimmon PLC		645,663		14,892,999
Phoenix Group Holdings PLC		1,506,236		11,867,060
Reckitt Benckiser Group PLC		719,518		58,363,511
Sage Group PLC (The)		732,113		6,309,432
Schroders PLC		256,646		9,308,987
Segro PLC		854,131		11,426,547
Severn Trent PLC		178,933		6,432,968
Shell PLC		15,348,707		409,446,904
Smith & Nephew PLC		1,155,570		14,815,741
Smiths Group PLC		783,559		14,787,476
SSE PLC		2,151,190		46,462,246
St. James’s Place PLC		1,110,791		16,685,267
Standard Chartered PLC		5,265,257		36,291,777
Taylor Wimpey PLC		7,399,765		11,517,575
Tesco PLC		9,999,566		32,069,964
Unilever PLC		5,166,273		251,612,412
United Utilities Group PLC		1,377,974		18,308,500
Vodafone Group PLC		54,345,601		80,086,784
Whitbread PLC		202,932		6,459,289
WPP PLC		2,294,987		24,768,380


				2,870,803,155


Total Common Stocks — 98.7% (Cost: $15,413,175,036)				14,089,400,364


Preferred Stocks

Germany — 0.8%
Bayerische Motoren Werke AG, Preference Shares, NVS		116,049		8,811,031


Security	Shares		Value

Germany (continued)
Henkel AG & Co. KGaA, Preference Shares, NVS		359,457	$	22,963,298
Porsche Automobil Holding SE, Preference Shares, NVS		309,049		22,369,495
Volkswagen AG, Preference Shares, NVS		373,563		52,818,014


				106,961,838


Total Preferred Stocks — 0.8% (Cost: $142,869,027)				106,961,838


Total Long-Term Investments — 99.5% (Cost: $15,556,044,063)				14,196,362,202


Short-Term Securities

Money Market Funds — 0.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(e)(f)(g)		57,877,939		57,872,151
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(e)(f)		3,960,000		3,960,000


Total Short-Term Securities — 0.4% (Cost: $61,825,185)				61,832,151


Total Investments in Securities — 99.9% (Cost: $15,617,869,248)				14,258,194,353

Other Assets Less Liabilities — 0.1%				15,119,098


Net Assets — 100.0%			$	14,273,313,451

^(a)	Non-income producing security.

^(b)	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.

^(c)	All or a portion of this security is on loan.

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

^(e)	Affiliate of the Fund.

^(f)	Annualized 7-day yield as of period end.

^(g)	All or a portion of this security was purchased with the cash collateral from loaned securities.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):

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

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

For its investment advisory services to the iShares MSCI EAFE Growth ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund as follows:

For its investment advisory services to the iShares MSCI EAFE Value ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund as follows:

Prior to June 30, 2022, for its investment advisory services to the iShares MSCI EAFE Value ETF, BFA was entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund as follows:

Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

For the year ended July 31, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

For the year ended July 31, 2022, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2022, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

As of July 31, 2022, the tax components of accumulated net earnings (losses) were as follows:

pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

The Internal Revenue Service (“IRS”) has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which the iShares MSCI EAFE Growth ETF and iShares MSCI EAFE Value ETF are able to pass through to its shareholders as a foreign tax credit in the current year, the iShares MSCI EAFE Growth ETF and iShares MSCI EAFE Value ETF will be able to offset the prior years’ withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Fund.

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

iShares Trust and Shareholders of each of the two funds listed in the table below

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (two of the funds constituting iShares Trust, hereafter collectively referred to as the “Funds”) as of July 31, 2022, the related statements of operations for the year ended July 31, 2022, the statements of changes in net assets for each of the two years in the period ended July 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended July 31, 2022 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of July 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended July 31, 2022 and each of the financial highlights for each of the five years in the period ended July 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

We have served as the auditor of one or more BlackRock investment companies since 2000.

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2022:

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate, and the Board and BFA agreed during the June 13-15, 2022 meeting to revise the Advisory Agreement for the Fund to provide for one or more additional breakpoints, as the assets of the Fund increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

Information on the Fund’s net asset value, market price, premiums and discounts, and bid-ask spreads can be found at iShares.com.

The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds and ETFs (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (including ETFs) (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares U.S. ETF Trust and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 384 funds as of July 31, 2022. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated John E. Kerrigan as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at iShares.com/fundreports.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

The Markets in Review

Dear Shareholder,

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.


Total Returns as of July 31, 2022

	6-Month			12-Month

U.S. large cap equities (S&P 500^® Index)		(7.81	)%		(4.64	)%

U.S. small cap equities (Russell 2000^® Index)		(6.42	)		(14.29	)

International equities (MSCI Europe, Australasia, Far East Index)		(11.27	)		(14.32	)

Emerging market equities (MSCI Emerging Markets Index)		(16.24	)		(20.09	)

3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)		0.21			0.22

U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)		(6.38	)		(10.00	)

U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)		(6.14	)		(9.12	)

Tax-exempt municipal bonds (Bloomberg Municipal Bond Index)		(3.95	)		(6.93	)

U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)		(6.58	)		(8.03	)

Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

The iShares China Large-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of large-capitalization Chinese equities that trade on the Hong Kong Stock Exchange, as represented by the FTSE China 50 Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Large-capitalization Chinese stocks declined significantly for the reporting period as economic growth slowed amid pandemic-related restrictions. A far-reaching regulatory crackdown, mounting stress in the property market, rising unemployment, weakness in consumer spending, inflationary pressures, and supply chain disruptions weighed on Chinese markets.

Technology-related stocks in the consumer discretionary sector drove the majority of detraction from the Index’s return, due to concerns surrounding slowing growth driven by lockdowns, widespread quarantines, and regulatory restrictions. The government’s campaign to rein in large internet firms by lessening their market advantages included billions of dollars in antitrust fines, which continued into July 2022, and development of a state-backed cloud system to compete with private industry. While investor sentiment periodically shifted toward signs of an easing crackdown, further government statements repeatedly reignited uncertainty. The internet and direct marketing industry declined as regulations weakened companies’ competitive advantages, while concerns surrounding new customer growth and slowing consumption pressured margins and earnings. Growth in cloud businesses stagnated amid competition from government-backed rivals. The possibility of delisting from U.S. exchanges amid a cross-border auditing dispute also weighed on Chinese stocks.

Technology-related stocks in the communication services sector also weighed substantially on the Index’s return as COVID-related restrictions and regulatory issues weighed on earnings and forward guidance. The media and entertainment industry declined amid rules limiting video game use and restrictions on key advertisers. Revenue growth slowed for media and videogaming firms, constraining earnings and raising concerns about future growth. While China resumed the approval of video games in April 2022 after a months-long suspension, titles from two of the country’s largest gaming companies were not included.

The iShares MSCI China A ETF (the “Fund”) seeks to track the investment results of an index composed of domestic Chinese equities that trade on the Shanghai or Shenzhen Stock Exchange, as represented by the MSCI China A Inclusion Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was June 13, 2016. The first day of secondary market trading was June 15, 2016.

Index performance through April 25, 2018 reflects the performance of the MSCI China A International Index. Index performance beginning on April 26, 2018 reflects the performance of the MSCI China A Inclusion Index.

Domestic Chinese equities declined during the reporting period as economic growth slowed and pandemic-related restrictions continued, including widespread lockdowns. Stress mounted in the property market amid falling prices, a debt crisis, and a homebuyer boycott of mortgage payments. Unemployment ran high and consumer spending weakened, while inflationary pressures mounted and supply chain disruptions continued. A regulatory crackdown on large internet firms continued to weigh on investor sentiment. Concerns about delisting from U.S. exchanges arising from audit requirements also weighed on Chinese stocks.

In that environment, the information technology sector detracted from the Index’s return. Weaker demand for consumer electronics raised concerns about future growth as slowing sales of personal computers and smartphones weighed on the technology hardware and equipment industry and the semiconductors and semiconductor equipment industry. Sales and production of microchips in China declined, as did memory prices, and concerns surrounding capacity additions and rising inventory levels raised fears that the mismatch between semiconductor supply and demand had abated.

In the healthcare sector, stocks in the pharmaceuticals, biotechnology, and life sciences industry detracted substantially from the Index’s return, declining as acquisition and initial public offering activity slowed. Tighter regulations, including drug price reductions, weighed on the industry. Oversupply of COVID vaccines weakened producers’ profit margins, while a domestically produced messenger RNA vaccine remained out of reach.

In the materials sector, chemicals stocks detracted from the Index’s return as higher costs compressed margins, demand softened, and manufacturing slowed. In the metals and mining industry, producers of battery metals such as lithium and cobalt declined as prices showed signs of abating after a run-up fueled by electric vehicle battery demand, raising concerns about a correction.


Security	Shares		Value

Common Stocks

Automobiles — 5.7%
BYD Co. Ltd., Class H		5,170,000	$	189,149,473
Great Wall Motor Co. Ltd., Class H		19,639,500		31,134,786
XPeng Inc.^(a)		6,648,800		80,726,834


				301,011,093

Banks — 18.5%
Agricultural Bank of China Ltd., Class H		194,767,000		64,238,448
Bank of China Ltd., Class H		482,214,000		171,468,146
Bank of Communications Co. Ltd., Class H		46,103,200		27,441,227
China CITIC Bank Corp. Ltd., Class H		59,054,000		24,683,397
China Construction Bank Corp., Class H		415,717,320		265,481,310
China Everbright Bank Co. Ltd., Class H		19,651,000		5,959,841
China Merchants Bank Co. Ltd., Class H		23,977,938		129,559,942
China Minsheng Banking Corp. Ltd., Class H		40,381,100		13,170,111
Industrial & Commercial Bank of China Ltd., Class H		451,801,995		238,862,124
Postal Savings Bank of China Co. Ltd., Class H^(b)		59,348,000		39,266,074


				980,130,620

Beverages — 2.5%
China Resources Beer Holdings Co. Ltd.		9,968,000		68,756,384
Nongfu Spring Co. Ltd., Class H^(b)(c)		11,055,200		66,255,881


				135,012,265

Capital Markets — 1.0%
China International Capital Corp. Ltd., Class H^(b)		9,365,200		17,220,035
CITIC Securities Co. Ltd., Class H		14,218,700		29,236,271
CSC Financial Co. Ltd., Class H^(b)		5,682,500		5,309,529


				51,765,835

Construction & Engineering — 0.3%
China Railway Group Ltd., Class H		25,617,000		15,249,662


Construction Materials — 0.6%
Anhui Conch Cement Co. Ltd., Class H		7,496,000		29,659,263


Entertainment — 3.3%
NetEase Inc.		9,421,300		176,241,992


Household Durables — 0.9%
Haier Smart Home Co. Ltd., Class H^(c)		14,652,600		46,895,766


Independent Power and Renewable Electricity Producers — 0.6%
China Longyuan Power Group Corp. Ltd., Class H		21,163,000		33,999,620


Industrial Conglomerates — 0.6%
CITIC Ltd.		31,095,000		33,631,826


Insurance — 6.3%
China Life Insurance Co. Ltd., Class H		47,149,000		70,224,651
China Pacific Insurance Group Co. Ltd., Class H		16,352,200		34,928,692
People’s Insurance Co. Group of China Ltd. (The), Class H		51,968,000		15,559,563
Ping An Insurance Group Co. of China Ltd., Class H		36,163,500		212,534,284


				333,247,190

Interactive Media & Services — 14.2%
Baidu Inc.^(a)		13,063,000		225,786,090
Kuaishou Technology^(a)(b)		12,246,500		123,131,736
Tencent Holdings Ltd.		10,371,800		400,857,741


				749,775,567

Internet & Direct Marketing Retail — 22.5%
Alibaba Group Holding Ltd.^(a)		36,448,500		409,807,560
JD.com Inc., Class A		10,899,550		325,161,317


Security	Shares		Value

Internet & Direct Marketing Retail (continued)
Meituan, Class B^(a)(b)		20,273,100	$	454,793,527


				1,189,762,404

Life Sciences Tools & Services — 4.5%
WuXi AppTec Co. Ltd., Class H^(b)		2,122,752		25,715,398
Wuxi Biologics Cayman Inc., New^(a)(b)		22,463,000		215,018,395


				240,733,793

Marine — 0.6%
COSCO SHIPPING Holdings Co. Ltd., Class H^(c)		20,587,100		30,886,454


Metals & Mining — 1.1%
Ganfeng Lithium Co. Ltd., Class H^(b)		1,510,840		13,661,413
Zijin Mining Group Co. Ltd., Class H		36,350,000		42,595,338


				56,256,751

Oil, Gas & Consumable Fuels — 3.7%
China Petroleum & Chemical Corp., Class H		161,658,600		76,214,949
China Shenhua Energy Co. Ltd., Class H		21,400,500		60,485,074
PetroChina Co. Ltd., Class H		131,840,000		61,563,934


				198,263,957

Real Estate Management & Development — 3.8%
China Overseas Land & Investment Ltd.		24,272,000		67,073,707
China Resources Land Ltd.		17,439,333		72,831,519
China Vanke Co. Ltd., Class H		12,046,200		22,912,793
Longfor Group Holdings Ltd.^(b)		11,676,500		39,015,471


				201,833,490

Technology Hardware, Storage & Peripherals — 2.8%
Xiaomi Corp., Class B^(a)(b)		92,817,600		145,982,153


Textiles, Apparel & Luxury Goods — 4.6%
ANTA Sports Products Ltd.^(c)		7,181,800		79,077,752
Li Ning Co. Ltd.		14,381,500		116,657,423
Shenzhou International Group Holdings Ltd.		4,787,300		50,353,591


				246,088,766


Total Long-Term Investments — 98.1% (Cost: $6,291,316,208)				5,196,428,467


Short-Term Securities

Money Market Funds — 1.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(d)(e)(f)		53,502,469		53,497,119
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(d)(e)		2,890,000		2,890,000


Total Short-Term Securities — 1.1% (Cost: $56,385,784)				56,387,119


Total Investments in Securities — 99.2% (Cost: $6,347,701,992)				5,252,815,586

Other Assets Less Liabilities — 0.8%				40,879,033


Net Assets — 100.0%			$	5,293,694,619

^(a)	Non-income producing security.

^(b)	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.

^(c)	All or a portion of this security is on loan.

^(d)	Affiliate of the Fund.

^(e)	Annualized 7-day yield as of period end.

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

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Aerospace & Defense — 0.7%
AECC Aero-Engine Control Co. Ltd., Class A		124,498	$	503,898
AECC Aviation Power Co. Ltd., Class A		249,298		1,840,198
AVIC Electromechanical Systems Co. Ltd., Class A		435,499		763,416
AVICOPTER PLC, Class A		62,299		404,169
Kuang-Chi Technologies Co. Ltd., Class A^(a)		207,240		552,947


				4,064,628

Air Freight & Logistics — 1.0%
SF Holding Co. Ltd., Class A		466,915		3,451,528
Sinotrans Ltd., Class A		436,600		243,736
YTO Express Group Co. Ltd., Class A		311,000		890,965
Yunda Holding Co. Ltd., Class A		249,200		668,468


				5,254,697

Airlines — 0.5%
Air China Ltd., Class A^(a)		622,800		891,663
China Eastern Airlines Corp. Ltd., Class A^(a)		874,400		635,400
China Southern Airlines Co. Ltd., Class A^(a)		1,029,124		976,981


				2,504,044

Auto Components — 1.5%
Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A		31,197		813,657
Fuyao Glass Industry Group Co. Ltd., Class A		186,600		1,133,863
Huayu Automotive Systems Co. Ltd., Class A		280,700		912,307
Huizhou Desay Sv Automotive Co. Ltd., Class A		45,700		1,324,992
Ningbo Joyson Electronic Corp., Class A^(a)		124,800		399,706
Ningbo Tuopu Group Co. Ltd., Class A		125,105		1,716,460
Sailun Group Co. Ltd., Class A		279,900		492,868
Shandong Linglong Tyre Co. Ltd., Class A		124,800		531,794
Shenzhen Kedali Industry Co. Ltd., Class A		31,100		669,235


				7,994,882

Automobiles — 2.6%
BYD Co. Ltd., Class A		167,273		7,978,139
Chongqing Changan Automobile Co. Ltd., Class A		768,938		2,096,488
FAW Jiefang Group Co. Ltd., Class A		279,900		361,238
Great Wall Motor Co. Ltd., Class A		217,789		1,115,203
Guangzhou Automobile Group Co. Ltd., Class A		466,500		1,031,421
SAIC Motor Corp. Ltd., Class A		746,806		1,794,981


				14,377,470

Banks — 9.4%
Agricultural Bank of China Ltd., Class A		7,998,700		3,378,533
Bank of Beijing Co. Ltd., Class A		2,021,500		1,249,555
Bank of Changsha Co. Ltd., Class A		373,200		409,457
Bank of Chengdu Co. Ltd., Class A		342,177		781,841
Bank of China Ltd., Class A		3,329,700		1,509,966
Bank of Communications Co. Ltd., Class A		3,704,902		2,537,063
Bank of Hangzhou Co. Ltd., Class A		560,288		1,188,030
Bank of Jiangsu Co. Ltd., Class A		1,399,500		1,494,611
Bank of Nanjing Co. Ltd., Class A		934,280		1,431,719
Bank of Ningbo Co. Ltd., Class A		622,021		2,880,123
Bank of Shanghai Co. Ltd., Class A		1,370,469		1,210,932
China Construction Bank Corp., Class A		934,200		771,330
China Everbright Bank Co. Ltd., Class A		3,924,200		1,687,268
China Merchants Bank Co. Ltd., Class A		1,931,002		10,045,232
China Minsheng Banking Corp. Ltd., Class A		3,392,380		1,830,017
China Zheshang Bank Co. Ltd., Class A^(a)		1,586,100		761,638
Chongqing Rural Commercial Bank Co. Ltd., Class A		870,830		462,213
Huaxia Bank Co. Ltd., Class A		1,244,060		944,127
Industrial & Commercial Bank of China Ltd., Class A		5,915,000		3,839,258


Security	Shares		Value

Banks (continued)
Industrial Bank Co. Ltd., Class A		1,928,247	$	5,083,148
Ping An Bank Co. Ltd., Class A		1,803,856		3,393,969
Postal Savings Bank of China Co. Ltd., Class A		2,459,700		1,710,746
Qingdao Rural Commercial Bank Corp., Class A		562,300		258,530
Shanghai Pudong Development Bank Co. Ltd., Class A		2,770,720		2,981,733


				51,841,039

Beverages — 11.2%
Anhui Gujing Distillery Co. Ltd., Class A		31,199		987,471
Anhui Kouzi Distillery Co. Ltd., Class A		62,200		461,901
Anhui Yingjia Distillery Co. Ltd., Class A		62,200		502,998
Beijing Shunxin Agriculture Co. Ltd., Class A		63,000		219,370
Chongqing Brewery Co. Ltd., Class A		49,695		905,040
Jiangsu King’s Luck Brewery JSC Ltd., Class A		124,400		807,173
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A		142,800		3,498,010
JiuGui Liquor Co. Ltd., Class A		31,100		680,011
Kweichow Moutai Co. Ltd., Class A		117,803		33,121,325
Luzhou Laojiao Co. Ltd., Class A		141,600		4,665,030
Shanghai Bairun Investment Holding Group Co. Ltd., Class A		96,488		386,557
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A		112,101		4,552,681
Sichuan Swellfun Co. Ltd., Class A		50,100		530,328
Tsingtao Brewery Co. Ltd., Class A		67,800		990,658
Wuliangye Yibin Co. Ltd., Class A		354,714		9,386,691


				61,695,244

Biotechnology — 1.8%
Beijing Tiantan Biological Products Corp. Ltd., Class A		150,421		446,270
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A		62,255		1,247,977
BGI Genomics Co. Ltd., Class A		36,700		337,278
Bloomage Biotechnology Corp. Ltd., Class A		28,498		673,798
Chongqing Zhifei Biological Products Co. Ltd., Class A		155,500		2,292,970
Daan Gene Co. Ltd., Class A		124,444		346,424
Hualan Biological Engineering Inc., Class A		156,748		465,391
Imeik Technology Development Co. Ltd., Class A		16,000		1,391,461
Shanghai Junshi Biosciences Co. Ltd., Class A^(a)		63,308		575,655
Shanghai RAAS Blood Products Co. Ltd., Class A		559,800		478,873
Shenzhen Kangtai Biological Products Co. Ltd., Class A		105,256		520,775
Walvax Biotechnology Co. Ltd., Class A		155,598		1,002,347
Zhejiang Orient Gene Biotech Co. Ltd., Class A		13,956		234,683


				10,013,902

Building Products — 0.3%
Beijing New Building Materials PLC, Class A		155,900		665,164
Guangdong Kinlong Hardware Products Co. Ltd., Class A		31,120		371,265
Zhejiang Weixing New Building Materials Co. Ltd., Class A		124,404		362,692
Zhuzhou Kibing Group Co. Ltd., Class A		222,800		378,552


				1,777,673

Capital Markets — 5.5%
BOC International China Co. Ltd., Class A		248,800		465,476
Caitong Securities Co. Ltd., Class A		404,351		436,918
Changjiang Securities Co. Ltd., Class A		560,200		451,620
China Galaxy Securities Co. Ltd., Class A		373,600		481,852
China Great Wall Securities Co. Ltd., Class A		218,100		291,028
China International Capital Corp. Ltd., Class A		124,400		783,586
China Merchants Securities Co. Ltd., Class A		684,207		1,410,493
CITIC Securities Co. Ltd., Class A		1,119,670		3,258,333
CSC Financial Co. Ltd., Class A		404,739		1,562,942
Dongxing Securities Co. Ltd., Class A		342,139		416,526
East Money Information Co. Ltd., Class A		1,212,916		4,008,938
Everbright Securities Co. Ltd., Class A		373,600		839,748


Security	Shares		Value

Capital Markets (continued)
First Capital Securities Co. Ltd., Class A		373,200	$	338,062
Founder Securities Co. Ltd., Class A		747,200		728,126
GF Securities Co. Ltd., Class A		560,200		1,324,478
Guangzhou Yuexiu Financial Holdings Group Co. Ltd., Class A		410,091		389,359
Guolian Securities Co. Ltd., Class A		217,700		344,330
Guosen Securities Co. Ltd., Class A		574,100		784,078
Guotai Junan Securities Co. Ltd., Class A		684,645		1,468,487
Guoyuan Securities Co. Ltd., Class A		404,744		388,049
Haitong Securities Co. Ltd., Class A		903,500		1,252,287
Hithink RoyalFlush Information Network Co. Ltd., Class A		62,200		794,674
Huatai Securities Co. Ltd., Class A		654,300		1,287,873
Huaxi Securities Co. Ltd., Class A		249,200		274,895
Industrial Securities Co. Ltd., Class A		592,160		567,657
Nanjing Securities Co. Ltd., Class A		311,462		368,895
Northeast Securities Co. Ltd., Class A		218,100		224,500
Orient Securities Co. Ltd., Class A		697,621		896,025
Sealand Securities Co. Ltd., Class A		498,800		256,747
Shanxi Securities Co. Ltd., Class A		342,557		277,177
Shenwan Hongyuan Group Co. Ltd., Class A		2,055,000		1,259,321
Sinolink Securities Co. Ltd., Class A		342,988		432,219
SooChow Securities Co. Ltd., Class A		467,338		457,616
Southwest Securities Co. Ltd., Class A		635,600		360,186
Western Securities Co. Ltd., Class A		405,520		382,832
Zheshang Securities Co. Ltd., Class A^(a)		342,527		543,797
Zhongtai Securities Co. Ltd., Class A		529,900		573,167


				30,382,297

Chemicals — 6.0%
Asia - Potash International Investment Guangzhou Co. Ltd., Class A^(a)		62,200		321,162
CNGR Advanced Material Co. Ltd., Class A		31,100		573,802
CNNC Hua Yuan Titanium Dioxide Co. Ltd., Class A		272,740		401,400
Do-Fluoride New Materials Co. Ltd., Class A		63,000		455,002
Guangzhou Tinci Materials Technology Co. Ltd., Class A		186,720		1,451,188
Hangzhou Oxygen Plant Group Co. Ltd., Class A		93,300		533,571
Hengli Petrochemical Co. Ltd., Class A		529,115		1,584,274
Hengyi Petrochemical Co. Ltd., Class A		342,976		475,789
Hoshine Silicon Industry Co. Ltd., Class A		45,600		664,070
Huafon Chemical Co. Ltd., Class A		435,400		490,922
Hubei Xingfa Chemicals Group Co. Ltd., Class A		107,800		596,104
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A		778,300		524,899
Inner Mongolia Yuan Xing Energy Co. Ltd., Class A		346,600		469,694
Jiangsu Eastern Shenghong Co. Ltd., Class A		373,200		1,092,289
Jiangsu Yangnong Chemical Co. Ltd., Class A		31,100		530,159
Jiangsu Yoke Technology Co. Ltd., Class A		46,100		347,189
Kingfa Sci & Tech Co. Ltd., Class A		252,100		377,044
LB Group Co. Ltd., Class A		217,709		657,137
Luxi Chemical Group Co. Ltd., Class A		186,600		389,767
Ningbo Shanshan Co. Ltd., Class A		186,600		785,226
Ningxia Baofeng Energy Group Co. Ltd., Class A		557,500		1,112,704
Rongsheng Petrochemical Co. Ltd., Class A		934,601		1,981,749
Satellite Chemical Co. Ltd., Class A		228,841		768,863
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A		187,460		793,625
Shanghai Putailai New Energy Technology Co. Ltd., Class A		132,120		1,387,306
Shenzhen Capchem Technology Co. Ltd., Class A		72,820		479,689
Shenzhen Dynanonic Co. Ltd., Class A		16,200		861,679
Shenzhen Senior Technology Co. Ltd., Class A		124,417		527,129
Sichuan Hebang Biotechnology Co. Ltd., Class A		777,500		447,422


Security	Shares		Value

Chemicals (continued)
Sichuan Yahua Industrial Group Co. Ltd., Class A		112,700	$	487,942
Sinoma Science & Technology Co. Ltd., Class A		155,500		666,465
Sinopec Shanghai Petrochemical Co. Ltd., Class A		653,531		296,954
Skshu Paint Co. Ltd., Class A^(a)		34,460		541,571
SuZhou TA&A Ultra Clean Technology Co. Ltd., Class A		62,200		719,883
Tongkun Group Co. Ltd., Class A		218,597		467,792
Transfar Zhilian Co. Ltd., Class A		280,733		238,449
Wanhua Chemical Group Co. Ltd., Class A		311,800		3,871,885
Weihai Guangwei Composites Co. Ltd., Class A		62,295		647,810
Xinjiang Zhongtai Chemical Co. Ltd., Class A		248,800		273,016
Yunnan Energy New Material Co. Ltd., Class A		81,615		2,589,014
Zhejiang Juhua Co. Ltd., Class A		249,200		639,460
Zhejiang Yongtai Technology Co. Ltd., Class A		93,300		425,633
Zibo Qixiang Tengda Chemical Co. Ltd., Class A^(a)		273,600		305,132


				33,251,860

Commercial Services & Supplies — 0.3%
Beijing Originwater Technology Co. Ltd., Class A		373,200		307,831
Shanghai M&G Stationery Inc., Class A		93,300		627,652
Zhejiang Weiming Environment Protection Co. Ltd., Class A		155,453		677,054


				1,612,537

Communications Equipment — 0.7%
Fiberhome Telecommunication Technologies Co. Ltd., Class A		93,399		200,052
Guangzhou Haige Communications Group Inc. Co., Class A		186,600		247,491
Hengtong Optic-Electric Co. Ltd., Class A		223,600		519,113
Tianjin 712 Communication & Broadcasting Co. Ltd., Class A		62,600		286,533
Yealink Network Technology Corp. Ltd., Class A		93,355		1,050,733
Zhongji Innolight Co. Ltd., Class A		62,688		304,827
ZTE Corp., Class A		373,200		1,352,263


				3,961,012

Construction & Engineering — 1.8%
China Energy Engineering Corp. Ltd., Class A^(a)		3,105,200		1,054,802
China National Chemical Engineering Co. Ltd., Class A		559,810		894,378
China Railway Group Ltd., Class A		1,928,200		1,651,565
China State Construction Engineering Corp. Ltd., Class A		3,918,600		2,925,641
Metallurgical Corp. of China Ltd., Class A		1,650,300		796,780
Power Construction Corp. of China Ltd., Class A		1,401,500		1,507,028
Shanghai Construction Group Co. Ltd., Class A		840,900		365,055
Sichuan Road & Bridge Co. Ltd., Class A		442,600		663,392


				9,858,641

Construction Materials — 0.7%
Anhui Conch Cement Co. Ltd., Class A		373,600		1,799,868
BBMG Corp., Class A		839,700		327,284
China Jushi Co. Ltd., Class A		373,550		827,758
Huaxin Cement Co. Ltd., Class A		124,419		331,080
Tangshan Jidong Cement Co. Ltd., Class A		248,800		356,130


				3,642,120

Distributors — 0.1%
Wuchan Zhongda Group Co. Ltd., Class A		498,014		354,518


Diversified Financial Services — 0.1%
AVIC Industry-Finance Holdings Co. Ltd., Class A		870,801		421,001


Electrical Equipment — 7.5%
Beijing Easpring Material Technology Co. Ltd., Class A		62,200		885,498
Contemporary Amperex Technology Co. Ltd., Class A^(a)		217,702		16,506,674


Security	Shares		Value

Electrical Equipment (continued)
Dongfang Electric Corp. Ltd., Class A		249,290	$	640,948
Eve Energy Co. Ltd., Class A		186,682		2,617,335
Fangda Carbon New Material Co. Ltd., Class A^(a)		342,528		359,174
Ginlong Technologies Co. Ltd., Class A		39,100		1,331,085
Gotion High-tech Co. Ltd., Class A		157,000		910,928
Hongfa Technology Co. Ltd., Class A		101,100		615,743
Jiangsu Zhongtian Technology Co. Ltd., Class A^(a)		311,400		1,063,674
Jiangxi Special Electric Motor Co. Ltd., Class A, NVS^(a)		155,500		565,210
Ming Yang Smart Energy Group Ltd., Class A		201,200		894,057
NARI Technology Co. Ltd., Class A		628,574		2,721,751
Ningbo Orient Wires & Cables Co. Ltd., Class A		62,200		737,298
Ningbo Ronbay New Energy Technology Co. Ltd., Class A		40,058		826,875
Shanghai Electric Group Co. Ltd., Class A		1,152,350		759,940
Sieyuan Electric Co. Ltd., Class A		63,000		413,887
Sungrow Power Supply Co. Ltd., Class A		140,600		2,585,655
Sunwoda Electronic Co. Ltd., Class A		155,599		663,447
Suzhou Maxwell Technologies Co. Ltd., Class A		15,360		1,078,036
TBEA Co. Ltd., Class A		342,500		1,269,439
Titan Wind Energy Suzhou Co. Ltd., Class A		156,300		412,953
Xinjiang Goldwind Science & Technology Co. Ltd., Class A		298,751		661,898
Zhefu Holding Group Co. Ltd., Class A		440,600		307,641
Zhejiang Chint Electrics Co. Ltd., Class A		218,500		1,190,024
Zhejiang HangKe Technology Inc. Co., Class A		40,170		445,489
Zhuzhou CRRC Times Electric Co. Ltd., Class A, NVS		62,360		511,516


				40,976,175

Electronic Equipment, Instruments & Components — 4.2%
Avary Holding Shenzhen Co. Ltd., Class A		184,400		841,199
Beijing Yuanliu Hongyuan Electronic Technology Co. Ltd., Class A		31,100		548,854
BOE Technology Group Co. Ltd., Class A		3,455,328		1,992,599
Chaozhou Three-Circle Group Co. Ltd., Class A		155,900		620,634
China Railway Signal & Communication Corp. Ltd., Class A		628,781		409,173
China Zhenhua Group Science & Technology Co. Ltd., Class A		53,300		935,945
Foxconn Industrial Internet Co. Ltd., Class A		901,906		1,344,101
GoerTek Inc., Class A		311,804		1,471,301
Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A		62,867		633,893
Huagong Tech Co. Ltd., Class A		93,383		305,946
Lens Technology Co. Ltd., Class A		435,800		704,791
Lingyi iTech Guangdong Co., Class A^(a)		624,000		475,940
Luxshare Precision Industry Co. Ltd., Class A		654,368		3,293,524
Maxscend Microelectronics Co. Ltd., Class A		50,856		726,279
OFILM Group Co. Ltd., Class A^(a)		280,700		251,931
Raytron Technology Co. Ltd., Class A		62,296		350,908
Shanghai Friendess Electronic Technology Corp. Ltd., Class A		14,144		519,137
Shengyi Technology Co. Ltd., Class A		218,182		514,231
Shennan Circuits Co. Ltd., Class A		62,267		800,596
Shenzhen Sunlord Electronics Co. Ltd., Class A		80,300		293,527
Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A		162,400		643,580
Tianma Microelectronics Co. Ltd., Class A		218,500		315,177
Unisplendour Corp. Ltd., Class A		251,891		693,903
Westone Information Industry Inc., Class A		62,200		404,883
Wingtech Technology Co. Ltd., Class A		124,411		1,267,390
Wuhan Guide Infrared Co. Ltd., Class A		262,611		484,320
WUS Printed Circuit Kunshan Co. Ltd., Class A		155,590		279,603
Xiamen Faratronic Co. Ltd., Class A		31,100		963,149
Zhejiang Dahua Technology Co. Ltd., Class A		251,300		552,093


Security	Shares		Value

Electronic Equipment, Instruments & Components (continued)
Zhuzhou Hongda Electronics Corp. Ltd., Class A		31,100	$	241,182


				22,879,789

Energy Equipment & Services — 0.1%
Offshore Oil Engineering Co. Ltd., Class A		405,968		254,238
Yantai Jereh Oilfield Services Group Co. Ltd., Class A		93,385		497,122


				751,360

Entertainment — 0.6%
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A		186,693		541,572
Beijing Enlight Media Co. Ltd., Class A		279,900		346,896
G-Bits Network Technology Xiamen Co. Ltd., Class A		5,500		289,669
Giant Network Group Co. Ltd., Class A		187,412		233,061
Kunlun Tech Co. Ltd., Class A		93,300		198,512
Mango Excellent Media Co. Ltd., Class A		186,680		869,265
Perfect World Co. Ltd., Class A		186,652		412,103
Zhejiang Century Huatong Group Co. Ltd., Class A^(a)		653,982		434,875


				3,325,953

Food & Staples Retailing — 0.2%
DaShenLin Pharmaceutical Group Co. Ltd., Class A		74,326		354,967
Yifeng Pharmacy Chain Co. Ltd., Class A		62,217		477,354


				832,321

Food Products — 4.9%
Angel Yeast Co. Ltd., Class A		93,796		617,254
Anjoy Foods Group Co. Ltd., Class A		31,100		677,475
Beijing Dabeinong Technology Group Co. Ltd., Class A^(a)		373,600		401,982
Chacha Food Co. Ltd., Class A		62,200		440,386
Chongqing Fuling Zhacai Group Co. Ltd., Class A		62,200		274,925
Foshan Haitian Flavouring & Food Co. Ltd., Class A		373,566		4,580,574
Fujian Sunner Development Co. Ltd., Class A		124,400		364,894
Guangdong Haid Group Co. Ltd., Class A		155,599		1,515,058
Heilongjiang Agriculture Co. Ltd., Class A		155,900		324,384
Henan Shuanghui Investment & Development Co. Ltd., Class A		311,400		1,238,642
Inner Mongolia Yili Industrial Group Co. Ltd., Class A		591,700		3,141,257
Jiangxi Zhengbang Technology Co. Ltd., Class A^(a)		279,900		252,103
Jonjee Hi-Tech Industrial And Commercial Holding Co. Ltd., Class A		78,562		404,276
Juewei Food Co. Ltd., Class A		62,200		482,045
Muyuan Foods Co. Ltd., Class A		498,019		4,408,313
New Hope Liuhe Co. Ltd., Class A^(a)		418,500		987,700
Toly Bread Co. Ltd., Class A		132,365		275,208
Tongwei Co. Ltd., Class A		435,493		3,475,423
Wens Foodstuffs Group Co. Ltd., Class A^(a)		592,546		2,112,607
Yihai Kerry Arawana Holdings Co. Ltd., Class A^(a)		125,200		850,643
Yuan Longping High-Tech Agriculture Co. Ltd., Class A^(a)		124,400		275,074


				27,100,223

Gas Utilities — 0.1%
ENN Natural Gas Co. Ltd., Class A		218,900		559,950


Health Care Equipment & Supplies — 1.3%
Intco Medical Technology Co. Ltd., Class A		68,236		232,680
Jafron Biomedical Co. Ltd., Class A		79,550		522,267
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A		62,600		250,013
Lepu Medical Technology Beijing Co. Ltd., Class A		155,900		414,160
Ovctek China Inc., Class A		93,380		660,949
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		111,734		4,799,466


Security	Shares		Value

Health Care Equipment & Supplies (continued)
Shenzhen New Industries Biomedical Engineering Co. Ltd., Class A		62,200	$	371,318


				7,250,853

Health Care Providers & Services — 1.2%
Aier Eye Hospital Group Co. Ltd., Class A		648,149		2,923,224
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A		42,097		434,211
Huadong Medicine Co. Ltd., Class A		155,925		1,041,233
Jointown Pharmaceutical Group Co. Ltd., Class A		202,570		340,374
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A^(a)		373,560		280,465
Shanghai Pharmaceuticals Holding Co. Ltd., Class A		249,209		634,614
Topchoice Medical Corp., Class A^(a)		31,100		676,584


				6,330,705

Health Care Technology — 0.0%
Winning Health Technology Group Co. Ltd., Class A		187,088		219,909


Hotels, Restaurants & Leisure — 0.4%
BTG Hotels Group Co. Ltd., Class A		93,300		289,156
Shanghai Jinjiang International Hotels Co. Ltd., Class A		93,300		855,225
Shenzhen Overseas Chinese Town Co. Ltd., Class A		779,156		645,611
Songcheng Performance Development Co. Ltd., Class A		248,872		472,396


				2,262,388

Household Durables — 1.5%
Beijing Roborock Technology Co. Ltd., Class A		9,364		452,405
Ecovacs Robotics Co. Ltd., Class A		49,300		677,294
Gree Electric Appliances Inc. of Zhuhai, Class A		276,500		1,363,752
Haier Smart Home Co. Ltd., Class A		591,700		2,175,640
Hangzhou Robam Appliances Co. Ltd., Class A		93,364		391,704
Jason Furniture Hangzhou Co. Ltd., Class A		81,220		556,277
Oppein Home Group Inc., Class A		52,483		936,510
TCL Technology Group Corp., Class A		1,307,838		861,371
Xiamen Intretech Inc., Class A		67,926		202,536
Zhejiang Supor Co. Ltd., Class A		62,298		433,373


				8,050,862

Independent Power and Renewable Electricity Producers — 3.0%
CECEP Solar Energy Co. Ltd., Class A^(a)		283,800		375,568
CECEP Wind Power Corp, Class A		451,800		365,270
China National Nuclear Power Co. Ltd., Class A		1,648,347		1,508,315
China Three Gorges Renewables Group Co. Ltd., Class A		2,643,500		2,461,565
China Yangtze Power Co. Ltd., Class A		2,114,888		7,488,426
GD Power Development Co. Ltd., Class A^(a)		1,617,200		914,011
Huadian Power International Corp. Ltd., Class A		777,500		498,237
Huaneng Power International Inc., Class A^(a)		840,900		876,019
SDIC Power Holdings Co. Ltd., Class A		684,600		1,048,321
Shenzhen Energy Group Co. Ltd., Class A		435,818		413,343
Sichuan Chuantou Energy Co. Ltd., Class A		342,100		632,365


				16,581,440

Industrial Conglomerates — 0.1%
China Baoan Group Co. Ltd., Class A		218,100		460,741


Insurance — 1.9%
China Life Insurance Co. Ltd., Class A		249,600		1,031,782
China Pacific Insurance Group Co. Ltd., Class A		653,416		1,957,765
New China Life Insurance Co. Ltd., Class A		187,400		806,298
People’s Insurance Co. Group of China Ltd. (The), Class A		685,500		473,781
Ping An Insurance Group Co. of China Ltd., Class A		1,027,123		6,415,723


				10,685,349

IT Services — 0.1%
Beijing Sinnet Technology Co. Ltd., Class A		155,999		222,102


Security	Shares		Value

IT Services (continued)
DHC Software Co. Ltd., Class A		279,900	$	256,782


				478,884

Life Sciences Tools & Services — 1.1%
Hangzhou Tigermed Consulting Co. Ltd., Class A		36,104		546,395
Joinn Laboratories China Co. Ltd., Class A		31,160		511,500
Pharmaron Beijing Co. Ltd., Class A		93,300		1,071,129
Shanghai Medicilon Inc., Class A		9,506		464,893
WuXi AppTec Co. Ltd., Class A		248,848		3,442,715


				6,036,632

Machinery — 2.7%
China CSSC Holdings Ltd., Class A		404,300		1,399,329
CRRC Corp. Ltd., Class A		2,292,190		1,750,903
Jiangsu Hengli Hydraulic Co. Ltd., Class A		124,424		961,313
Keda Industrial Group Co. Ltd., Class A		155,500		463,153
Luoyang Xinqianglian Slewing Bearing Co. Ltd., Class A		31,150		445,591
Ningbo Deye Technology Co. Ltd., Class A, NVS		14,400		715,422
North Industries Group Red Arrow Co. Ltd., Class A		132,900		646,627
Riyue Heavy Industry Co. Ltd., Class A		95,982		356,841
Sany Heavy Industry Co. Ltd., Class A		778,350		1,965,669
Shenzhen Inovance Technology Co. Ltd., Class A		248,811		2,438,686
Weichai Power Co. Ltd., Class A		622,000		1,104,392
Wuxi Shangji Automation Co. Ltd., Class A		35,380		857,889
XCMG Construction Machinery Co. Ltd., Class A^(a)		716,100		594,073
Zhejiang Dingli Machinery Co. Ltd., Class A		63,098		400,196
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A		654,650		596,355


				14,696,439

Marine — 0.4%
COSCO SHIPPING Holdings Co. Ltd., Class A		1,183,450		2,409,076


Media — 0.2%
Focus Media Information Technology Co. Ltd., Class A		1,309,060		1,147,811


Metals & Mining — 5.1%
Aluminum Corp. of China Ltd., Class A^(a)		1,214,100		842,309
Anhui Honglu Steel Construction Group Co. Ltd., Class A		71,230		316,364
Baoshan Iron & Steel Co. Ltd., Class A		2,086,570		1,756,424
Chengtun Mining Group Co. Ltd., Class A		249,600		291,753
Chifeng Jilong Gold Mining Co. Ltd., Class A^(a)		156,300		423,096
China Minmetals Rare Earth Co. Ltd., Class A^(a)		93,300		393,765
China Northern Rare Earth Group High-Tech Co. Ltd., Class A		342,500		1,595,281
CMOC Group Ltd., Class A		1,619,200		1,294,209
Ganfeng Lithium Co. Ltd., Class A		156,670		2,073,544
GEM Co. Ltd., Class A		437,096		633,277
Henan Shenhuo Coal & Power Co. Ltd., Class A		186,600		398,087
Hesteel Co. Ltd., Class A		1,088,500		450,673
Huaibei Mining Holdings Co. Ltd., Class A		217,700		420,419
Hunan Valin Steel Co. Ltd., Class A		656,040		442,513
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A		4,203,300		1,409,440
Inner Mongolia ERDOS Resources Co. Ltd., Class A		117,380		317,537
Jiangxi Copper Co. Ltd., Class A		187,000		468,091
Maanshan Iron & Steel Co. Ltd., Class A		559,800		260,086
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A^(a)		778,300		854,894
Shandong Gold Mining Co. Ltd., Class A		311,428		844,068
Shandong Nanshan Aluminum Co. Ltd., Class A		1,058,600		549,972
Shanxi Meijin Energy Co. Ltd., Class A		404,700		682,884
Shanxi Taigang Stainless Steel Co. Ltd., Class A		529,100		388,709
Shenghe Resources Holding Co. Ltd., Class A		167,800		516,701


Security	Shares		Value

Metals & Mining (continued)
Sinomine Resource Group Co. Ltd., Class A		44,780	$	596,320
Tianshan Aluminum Group Co. Ltd., Class A		345,000		373,487
Tibet Summit Resources Co. Ltd., Class A^(a)		94,200		401,596
Tongling Nonferrous Metals Group Co. Ltd., Class A		964,900		434,212
Western Mining Co. Ltd., Class A		217,700		363,972
Western Superconducting Technologies Co. Ltd., Class A		62,368		925,232
Xiamen Tungsten Co. Ltd., Class A		124,898		498,007
Yintai Gold Co. Ltd., Class A		218,520		351,640
YongXing Special Materials Technology Co. Ltd., Class A		31,100		660,579
Youngy Co. Ltd., Class A^(a)		31,100		603,599
Yunnan Aluminium Co. Ltd., Class A		311,000		463,819
Yunnan Tin Co. Ltd., Class A		155,500		346,922
Zhejiang Huayou Cobalt Co. Ltd., Class A		161,512		2,018,731
Zijin Mining Group Co. Ltd., Class A		1,898,700		2,515,158


				28,177,370

Oil, Gas & Consumable Fuels — 2.6%
China Petroleum & Chemical Corp., Class A		3,051,443		1,862,497
China Shenhua Energy Co. Ltd., Class A		622,499		2,591,647
COSCO SHIPPING Energy Transportation Co. Ltd., Class A^(a)		311,049		584,789
Guanghui Energy Co. Ltd., Class A		592,083		855,637
Inner Mongolia Dian Tou Energy Corp. Ltd., Class A		186,600		369,091
Jizhong Energy Resources Co. Ltd., Class A		342,100		341,036
PetroChina Co. Ltd., Class A		2,023,900		1,565,523
Pingdingshan Tianan Coal Mining Co. Ltd., Class A		217,700		385,652
Shaanxi Coal Industry Co. Ltd., Class A		903,501		2,557,381
Shan Xi Hua Yang Group New Energy Co. Ltd., Class A		217,700		688,330
Shanxi Coking Coal Energy Group Co. Ltd., Class A		388,860		675,214
Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A		280,300		571,888
Yankuang Energy Group Co. Ltd., Class A		248,800		1,351,268


				14,399,953

Paper & Forest Products — 0.2%
Chengxin Lithium Group Co. Ltd., Class A		93,300		785,563
Shandong Sun Paper Industry JSC Ltd., Class A		249,200		433,858


				1,219,421

Personal Products — 0.3%
By-health Co. Ltd., Class A		155,900		427,125
Proya Cosmetics Co. Ltd., Class A		16,940		442,479
Yunnan Botanee Bio-Technology Group Co. Ltd., Class A		31,100		895,060


				1,764,664

Pharmaceuticals — 3.2%
Apeloa Pharmaceutical Co. Ltd., Class A		93,700		267,857
Asymchem Laboratories Tianjin Co. Ltd., Class A		30,380		742,547
Betta Pharmaceuticals Co. Ltd., Class A		31,112		230,843
CanSino Biologics Inc., Class A^(a)		10,138		242,976
Changchun High & New Technology Industry Group Inc., Class A		38,540		1,109,044
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A		93,300		501,200
Dong-E-E-Jiao Co. Ltd., Class A		62,200		330,122
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A		124,800		532,957
Humanwell Healthcare Group Co. Ltd., Class A		155,500		404,795
Jiangsu Hengrui Medicine Co. Ltd., Class A		592,142		3,099,466
Joincare Pharmaceutical Group Industry Co. Ltd., Class A		187,000		305,733
Livzon Pharmaceutical Group Inc., Class A		62,200		292,664
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd., Class A		161,900		448,563


Security	Shares		Value

Pharmaceuticals (continued)
Shandong Buchang Pharmaceuticals Co. Ltd., Class A		96,327	$	270,515
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A		186,663		1,213,511
Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A		109,900		391,314
Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A		155,960		512,598
Sichuan Kelun Pharmaceutical Co. Ltd., Class A		124,800		407,355
Yunnan Baiyao Group Co. Ltd., Class A		155,560		1,271,955
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A		62,299		2,732,512
Zhejiang Huahai Pharmaceutical Co. Ltd., Class A		125,204		378,959
Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A		82,800		575,889
Zhejiang NHU Co. Ltd., Class A		269,868		824,462
Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd., Class A		62,200		421,191


				17,509,028

Real Estate Management & Development — 1.7%
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		715,300		1,452,434
China Vanke Co. Ltd., Class A		901,900		2,297,514
Gemdale Corp., Class A		404,718		702,718
Jinke Properties Group Co. Ltd., Class A^(a)		500,500		194,385
Poly Developments and Holdings Group Co. Ltd., Class A		1,090,031		2,690,408
Seazen Holdings Co. Ltd., Class A^(a)		217,766		675,340
Shanghai Lingang Holdings Corp. Ltd., Class A		186,600		337,129
Shanghai Zhangjiang High-Tech Park Development Co. Ltd., Class A		155,500		268,088
Youngor Group Co. Ltd., Class A		435,494		420,819
Zhejiang China Commodities City Group Co. Ltd., Class A		466,500		366,093


				9,404,928

Road & Rail — 0.7%
Beijing-Shanghai High Speed Railway Co. Ltd., Class A		3,797,894		2,615,829
Daqin Railway Co. Ltd., Class A		1,399,500		1,254,775


				3,870,604

Semiconductors & Semiconductor Equipment — 6.3%
Advanced Micro-Fabrication Equipment Inc., Class A^(a)		62,364		1,124,545
Amlogic Shanghai Co. Ltd., Class A^(a)		35,362		443,583
China Resources Microelectronics Ltd., Class A		99,421		747,539
Flat Glass Group Co. Ltd., Class A^(a)		155,900		951,246
GCL System Integration Technology Co. Ltd., Class A^(a)		530,700		347,828
Gigadevice Semiconductor Beijing Inc., Class A		62,757		1,104,017
Hangzhou First Applied Material Co. Ltd., Class A		131,350		1,361,399
Hangzhou Lion Electronics Co. Ltd., Class A		62,200		524,554
Hangzhou Silan Microelectronics Co. Ltd., Class A		124,400		769,074
Ingenic Semiconductor Co. Ltd., Class A		46,700		617,433
JA Solar Technology Co. Ltd., Class A		217,700		2,509,095
JCET Group Co. Ltd., Class A		156,700		586,673
LONGi Green Energy Technology Co. Ltd., Class A		699,046		6,391,396
Montage Technology Co. Ltd., Class A		124,516		1,057,505
National Silicon Industry Group Co. Ltd., Class A^(a)		197,286		591,712
NAURA Technology Group Co. Ltd., Class A		47,900		1,805,930
SG Micro Corp., Class A		37,450		893,874
Shenzhen SC New Energy Technology Corp., Class A		31,100		615,142
StarPower Semiconductor Ltd., Class A		17,700		1,023,458
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A		279,999		2,112,574
Tianshui Huatian Technology Co. Ltd., Class A		217,700		286,187
TongFu Microelectronics Co. Ltd., Class A^(a)		95,300		233,405
Trina Solar Co. Ltd., Class A		198,643		2,450,565
Unigroup Guoxin Microelectronics Co. Ltd., Class A^(a)		62,200		1,945,555
Will Semiconductor Co. Ltd. Shanghai, Class A		125,955		1,968,112
Yangzhou Yangjie Electronic Technology Co. Ltd., Class A		62,200		577,489


Security	Shares		Value

Semiconductors & Semiconductor Equipment (continued)
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A		124,401	$	1,349,960


				34,389,850

Software — 1.4%
360 Security Technology Inc., Class A		654,700		717,100
Beijing Kingsoft Office Software Inc., Class A		40,944		1,063,323
Beijing Shiji Information Technology Co. Ltd., Class A		174,112		366,978
Hundsun Technologies Inc., Class A		125,602		791,177
Iflytek Co. Ltd., Class A		217,750		1,358,480
NavInfo Co. Ltd., Class A		217,700		451,111
Sangfor Technologies Inc., Class A		41,400		591,962
Shanghai Baosight Software Co. Ltd., Class A		123,091		734,195
Thunder Software Technology Co. Ltd., Class A		42,500		897,754
Yonyou Network Technology Co. Ltd., Class A		311,849		965,569


				7,937,649

Specialty Retail — 1.1%
China Tourism Group Duty Free Corp. Ltd., Class A		186,641		5,817,472
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A		342,406		423,654


				6,241,126

Technology Hardware, Storage & Peripherals — 0.5%
China Greatwall Technology Group Co. Ltd., Class A		280,400		402,078
GRG Banking Equipment Co. Ltd., Class A		186,600		254,394
Inspur Electronic Information Industry Co. Ltd., Class A		126,560		455,899
Ninestar Corp., Class A		124,410		926,072
Shenzhen Transsion Holding Co. Ltd., Class A		62,295		655,616


				2,694,059

Textiles, Apparel & Luxury Goods — 0.0%
Zhejiang Semir Garment Co. Ltd., Class A		252,100		199,314


Trading Companies & Distributors — 0.4%
Beijing United Information Technology Co. Ltd., Class A		48,955		666,488


Security	Shares		Value

Trading Companies & Distributors (continued)
China Meheco Co. Ltd., Class A		130,520	$	280,511
COSCO SHIPPING Development Co. Ltd., Class A		933,800		389,445
Sichuan New Energy Power Co. Ltd., Class A^(a)		122,900		427,663
Xiamen C & D Inc., Class A		248,800		414,066


				2,178,173

Transportation Infrastructure — 0.3%
Liaoning Port Co Ltd., Class A		1,523,900		381,772
Shanghai International Airport Co. Ltd., Class A^(a)		93,322		713,708
Shanghai International Port Group Co. Ltd., Class A		872,400		709,119


				1,804,599

Wireless Telecommunication Services — 0.3%
China United Network Communications Ltd., Class A		3,073,800		1,567,321


Total Common Stocks — 99.8% (Cost: $432,965,208)				549,402,484


Rights

Pharmaceuticals — 0.0%
Kangmei Pharmaceutical Co. Ltd., Class A, (Expires 12/31/49)^(a)		30,064		—


Total Rights — 0.0% (Cost: $0)				—


Total Investments in Securities — 99.8% (Cost: $432,965,208)				549,402,484

Other Assets Less Liabilities — 0.2%				902,762


Net Assets — 100.0%			$	550,305,246

^(a)	Non-income producing security.

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):

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 date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

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

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

For its investment advisory services to the iShares China Large-Cap ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund as follows:

For its investment advisory services to the iShares MSCI China A ETF, BFA is entitled to an annual investment advisory fee of 0.60%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

Expense Waivers: BFA may from time to time voluntarily waive and/or reimburse fees or expenses in order to limit total annual fund operating expenses (excluding acquired fund fees and expenses, if any). BFA has elected to implement a voluntary fee waiver in order to limit the Fund’s total annual operating expenses after fee waiver to 0.24%, and currently intends to keep such voluntary fee waiver for the Fund in place through December 31, 2022. Any such voluntary waiver or reimbursement may be eliminated by BFA at any time.

Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

For the year ended July 31, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

For the year ended July 31, 2022, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2022, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

As of July 31, 2022, the tax components of accumulated net earnings (losses) were as follows:

The iShares MSCI China A ETF, along with certain other iShares funds (“Participating Funds”), is a party to a $300 million credit agreement (“Credit Agreement”) with State Street Bank and Trust Company, which expires on October 15, 2021. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Credit Agreement sets specific sub limits on aggregate borrowings based on two tiers of Participating Funds: $300 million with respect to the funds within Tier 1 and $200 million with respect to Tier 2, including the Fund. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Credit Agreement. The Credit Agreement has the following terms: a commitment fee of 0.20% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Credit Agreement. The Credit Agreement was terminated on August 12, 2021.

Effective August 13, 2021, the iShares MSCI China A ETF, along with certain other iShares funds (“Participating Funds”), is a party to a $800 million credit agreement (“Syndicated Credit Agreement”) with a group of lenders, which expires on August 12, 2022. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) the one-month LIBOR rate (not less than zero) plus 1.00% per annum or (b) the U.S. Federal Funds rate (not less than zero) plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund’s relative exposure to certain target markets or a Participating Fund’s maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

During the year ended July 31, 2022, the Fund did not borrow under the Credit Agreement or Syndicated Credit Agreement.

Market Risk: The iShares MSCI China A ETF invests in A-shares (i.e., equity securities of companies based in the People’s Republic of China (“China” or “PRC”) that trade on the Shanghai Stock Exchange and Shenzhen Stock Exchange) primarily through the Shanghai-Hong Kong Stock Connect program or the Shenzhen-Hong Kong Stock Connect program (together, “Stock Connect”). Investing in A-shares through Stock Connect is subject to trading, clearance and settlement procedures, which could pose risks to the Fund. Trading through Stock Connect is subject to a daily quota, which limits the maximum net purchases under Stock Connect each day. The daily quota may restrict the Fund’s ability to invest in A-shares on a timely basis and could affect the Fund’s ability to effectively pursue its investment strategy. Additionally, the Fund may be subject to the risk of price fluctuations on days when the Chinese markets are open, but Stock Connect is not trading. The A-shares market has a higher propensity for trading suspensions than many other global equity markets.

The Funds invest a significant portion of their assets in issuers located in a single country or a limited number of countries. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions in that country or those countries may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the Fund’s portfolio. Unanticipated or sudden political or social developments may cause uncertainty in the markets and as a result adversely affect the Fund’s investments. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be more volatile and less liquid than U.S. securities and may be less subject to governmental supervision not typically associated with investing in U.S. securities.

The Funds invest a significant portion of their assets in securities of issuers located in China or with significant exposure to Chinese issuers or countries. Investments in Chinese securities, including certain Hong Kong-listed securities, involves risks specific to China. China may be subject to considerable degrees of economic, political and social instability and demonstrates significantly higher volatility from time to time in comparison to developed markets. Chinese markets generally continue to experience inefficiency, volatility and pricing anomalies resulting from governmental influence, a lack of publicly available information and/or political and social instability. Internal social unrest or confrontations with other neighboring countries may disrupt economic development in China and result in a greater risk of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation. Incidents involving China’s or the region’s security may cause uncertainty in Chinese markets and may adversely affect the Chinese economy and a fund’s investments. Reduction in spending on Chinese products and services, institution of tariffs or other trade barriers,

or a downturn in any of the economies of China’s key trading partners may have an adverse impact on the Chinese economy. In addition, measures may be taken to limit the flow of capital and/or sanctions may be imposed, which could prohibit or restrict the ability to own or transfer fund assets and may also include retaliatory actions, such as seizure of fund assets.

The Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds’ investments.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust’s administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Investors transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

iShares Trust and Shareholders of each of the two funds listed in the table below

We have served as the auditor of one or more BlackRock investment companies since 2000.

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2022:

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were higher than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

Information on the Fund’s net asset value, market price, premiums and discounts, and bid-ask spreads can be found at iShares.com.

Regulation under the Alternative Investment Fund Managers Directive (applicable to iShares China Large-Cap ETF only)

The Company has registered the iShares China Large-Cap ETF (the “Fund”) to be marketed to United Kingdom and EU investors in the Netherlands, Finland and Sweden.

Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; and (c) staff who have the ability to materially affect the risk profile of the Fund.

BlackRock has a clear and well defined pay-for-performance philosophy, and compensation programmes which support that philosophy.

Members of staff and senior management of the Company typically provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the Company and across the broader BlackRock group. Therefore, the figures disclosed are a sum of each individual’s portion of remuneration attributable to the Fund according to an objective apportionment methodology which acknowledges the multiple-service nature of the Company. Accordingly the figures are not representative of any individual’s actual remuneration or their remuneration structure.

The amount of total & aggregate remuneration awarded by the Company to its staff which has been attributed to the Fund in respect of the Company’s financial year ending December 31, 2021 were as follows:

Disclosures Under the EU Sustainable Finance Disclosure Regulation (applicable to iShares China Large-Cap ETF only)

The Fund is registered under the Alternative Investment Fund Managers Directive to be marketed to European Union (“EU”) investors, as noted above. As a result, certain disclosures are required under the EU Sustainable Finance Disclosure Regulation (“SFDR”).

The Fund has not been categorized under the SFDR as an “Article 8” or “Article 9” product. In addition, the Fund’s investments do not take into account the criteria for environmentally sustainable economic activities under the EU sustainable investment taxonomy regulation.

The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds and ETFs (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (including ETFs) (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares U.S. ETF Trust and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 384 funds as of July 31, 2022. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated John E. Kerrigan as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by FTSE International Limited or MSCI Inc., nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above

The Markets in Review

Dear Shareholder,

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.

Total Returns as of July 31, 2022



	6-Month		12-Month
U.S. large cap equities (S&P 500^® Index)	(7.81)	%	(4.64)	%
U.S. small cap equities (Russell 2000^® Index)	(6.42)		(14.29)
International equities (MSCI Europe, Australasia, Far East Index)	(11.27)		(14.32)
Emerging market equities (MSCI Emerging Markets Index)	(16.24)		(20.09)
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)	0.21		0.22
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)	(6.38)		(10.00)
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)	(6.14)		(9.12)
Tax-exempt municipal bonds (Bloomberg Municipal Bond Index)	(3.95)		(6.93)
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)	(6.58)		(8.03)
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

The iShares MSCI EAFE Min Vol Factor ETF (the “Fund”) seeks to track the investment results of an index composed of developed market equities that, in the aggregate, have lower volatility characteristics relative to the broader developed equity markets, excluding the U.S. and Canada, as represented by the MSCI EAFE Minimum Volatility (USD) Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was October 18, 2011. The first day of secondary market trading was October 20, 2011.

Lower volatility stocks in developed markets outside the U.S. and Canada declined during the reporting period, as higher inflation, rising interest rates, and weakening global economies sent markets lower. Japanese stocks detracted the most from the Index’s return, driven by the industrials sector. Although increased e-commerce raised earnings for delivery and logistics services, an unbalanced economic recovery weighed on the transportation industry. Japan’s economy shrank in the first quarter as supply chain disruptions dampened exports and production. Exports to China, Japan’s largest export market, slowed amid China’s coronavirus-related lockdown measures, which idled factories and warehouses and slowed deliveries of goods. Passenger rail operators posted improved earnings, but their stocks did not fully recover from lows related to domestic pandemic emergency measures. These restrictions also weighed on Japan’s consumer discretionary sector, constraining retail sales. In addition, as the Japanese yen weakened, reaching a 24-year low against the U.S. dollar in July 2022, prices for imported goods rose. The information technology sector also detracted as a global shortage of semiconductors interrupted electronics production.

Swiss stocks, particularly in the industrials and materials sectors, also weighed on the Index’s performance. In the industrials sector, machinery and building products companies contended with rising materials costs, in addition to construction delays in end markets such as China, where regulatory curbs on borrowing weakened the property industry. The Swiss materials sector also declined, most notably the chemicals industry, which was pressured by rising raw materials costs and supply chain disruptions.

French stocks further detracted as rising interest rates, soaring inflation, and the declining economic outlook dampened consumer spending. Hong Kong stocks also detracted, as economic growth in China slowed amid pandemic-related lockdowns.

In terms of relative performance, the Index outperformed the broader market, as measured by the MSCI EAFE Index. The Index seeks exposure to stocks that experience lower volatility, which were in high demand later in the reporting period as investors sought refuge from volatility induced by elevated inflation, interest rate increases, and geopolitical instability. An underweight position in the consumer discretionary sector, particularly the internet and direct marketing retail industry, contributed to relative performance, as did an overweight position in utilities. Conversely, an underweight in the energy sector detracted the most from relative return. From a country perspective, an underweight in Germany contributed to relative performance, whereas an underweight in the U.K. detracted.

The iShares MSCI USA Small-Cap Min Vol Factor ETF (the “Fund”) seeks to track the investment results of an index composed of small-capitalization U.S. equities that, in the aggregate, have lower volatility characteristics relative to the small-capitalization U.S. equity market, as represented by the MSCI USA Small Cap Minimum Volatility (USD) Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was September 7, 2016. The first day of secondary market trading was September 9, 2016.

Stocks of small-market-capitalization companies with lower volatility characteristics declined moderately during the reporting period. Higher inflation, rising interest rates, and a weakening outlook for economic growth sent markets lower and led investors to seek relatively lower-risk investments.

Healthcare companies detracted the most from the Index’s return. Disappointing clinical trial results led to sharp declines for several small biotechnology companies, which typically have narrower product lines than their larger competitors and are thus more vulnerable to failure. A monoclonal antibody treatment for eosinophilic gastrointestinal diseases failed to show any meaningful improvement in patients in late-stage trials despite promising mid-stage results. Research into combinations of monoclonal antibodies to treat certain squamous cell carcinomas ended abruptly following the deaths of several patients in mid-stage clinical trials. The healthcare equipment and supplies industry also weighed on the Index’s performance. Supply constraints pressured revenues at some healthcare equipment manufacturers. Government-imposed lockdowns to curb the spread of coronavirus variants disrupted production at China-based manufacturing operations, and global semiconductor shortages delayed fulfillment of orders for medical testing equipment.

The communication services sector also detracted from the Index’s return. The media and entertainment industry declined amid concerns about the sustainability of recent growth. High content licensing fees offset strong revenues from sports-related streaming, hindering profitability. Revenue from digital news subscriptions and online games, which posted strong growth early in the coronavirus pandemic when consumers spent more time at home, showed signs of slowing. The telecommunications industry was another source of weakness. One service provider’s stock declined sharply after a series of ransomware cyberattacks forced the company to divert some customers’ traffic from its platform.

In terms of relative performance, the Index outperformed the broader market for small-company stocks, as represented by the MSCI USA Small Cap Index. Stocks with low volatility characteristics outperformed the broader market as investor uncertainty rose amid escalating inflation, rising interest rates, and slowing economic growth. An overweight position in the utilities sector contributed the most to relative performance. An underweight position in the consumer discretionary sector and an overweight position in the consumer staples sector also proved beneficial. Conversely, an underweight position in the energy sector and overweight positions in the healthcare and communication services sectors detracted from relative performance. However, beneficial stock selection in healthcare outweighed the negative impact of healthcare allocation on relative performance.

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.


Security	Shares		Value

Common Stocks

Australia — 4.2%
Brambles Ltd.		803,136	$	6,464,202
Cochlear Ltd.		28,423		4,284,110
Coles Group Ltd.		1,227,802		16,170,566
Commonwealth Bank of Australia		327,788		23,278,652
CSL Ltd.		92,539		18,842,512
Medibank Pvt Ltd.		4,114,891		9,894,387
Newcrest Mining Ltd.		1,514,711		20,412,634
Rio Tinto PLC		80,113		4,836,380
Sonic Healthcare Ltd.		480,601		11,573,600
Telstra Corp. Ltd.		6,622,868		18,100,359
Transurban Group		1,607,546		16,431,833
Wesfarmers Ltd.		1,865,351		61,119,180
Woolworths Group Ltd.		1,467,310		38,603,579


				250,011,994

Belgium — 1.6%
Groupe Bruxelles Lambert SA		596,721		52,818,802
Proximus SADP		1,208,418		16,745,041
Sofina SA		28,204		6,605,073
UCB SA		206,661		16,148,231


				92,317,147

Denmark — 4.4%
Carlsberg A/S, Class B		64,007		8,278,786
Chr Hansen Holding A/S		320,398		20,970,950
Coloplast A/S, Class B		412,691		48,300,907
DSV A/S		38,838		6,544,238
Genmab A/S^(a)		73,085		26,005,098
Novo Nordisk A/S, Class B		748,287		87,155,795
Novozymes A/S, Class B		515,032		32,900,379
Orsted A/S^(b)		28,033		3,263,507
Tryg A/S		1,061,388		24,201,072


				257,620,732

Finland — 2.0%
Elisa OYJ		936,128		51,772,633
Kone OYJ, Class B		777,478		35,531,858
Nokia OYJ		1,744,890		9,088,399
Orion OYJ, Class B		411,209		19,630,085


				116,022,975

France — 6.1%
Air Liquide SA		278,726		38,319,911
BioMerieux		131,639		14,248,255
Carrefour SA		1,782,629		30,379,640
Danone SA		400,011		22,056,269
Dassault Systemes SE		200,878		8,615,993
EssilorLuxottica SA		67,387		10,565,091
Eurofins Scientific SE		193,719		15,102,016
Getlink SE		264,231		5,288,405
Hermes International		20,936		28,723,016
La Francaise des Jeux SAEM^(b)		82,461		2,945,344
L’Oreal SA		96,884		36,627,706
Orange SA		3,397,365		34,715,744
Pernod Ricard SA		129,773		25,493,172
Sanofi		783,599		77,868,991
SEB SA		133,895		11,272,676


				362,222,229

Germany — 4.5%
Beiersdorf AG		308,132		31,776,028
Deutsche Boerse AG		117,589		20,526,959


Security	Shares		Value

Germany (continued)
Deutsche Telekom AG, Registered		2,058,266	$	39,104,944
Knorr-Bremse AG		177,130		10,552,617
Merck KGaA		206,203		39,273,551
QIAGEN NV^(a)		1,065,816		53,415,258
Siemens Healthineers AG^(b)		357,513		18,320,263
Symrise AG		454,318		53,012,369
Telefonica Deutschland Holding AG		1,235,668		3,285,183


				269,267,172

Hong Kong — 7.5%
BOC Hong Kong Holdings Ltd.		4,559,000		16,491,337
CK Infrastructure Holdings Ltd.		4,163,000		26,105,230
CLP Holdings Ltd.		7,632,500		64,720,314
Hang Seng Bank Ltd.		3,419,000		55,150,574
HK Electric Investments & HK Electric Investments Ltd., Class SS		21,424,500		19,377,820
HKT Trust & HKT Ltd., Class SS		27,269,349		38,207,499
Hong Kong & China Gas Co. Ltd.		12,327,799		13,019,785
Jardine Matheson Holdings Ltd.		546,600		28,869,124
Link REIT		4,575,300		38,315,068
MTR Corp. Ltd.		12,621,248		66,835,874
Power Assets Holdings Ltd.		11,078,000		72,535,916
Sun Hung Kai Properties Ltd.		595,000		7,102,593


				446,731,134

Ireland — 0.8%
Kerry Group PLC, Class A		434,615		45,874,097


Israel — 2.3%
Azrieli Group Ltd.		59,351		4,757,395
Bank Hapoalim BM		3,436,301		32,026,338
Bank Leumi Le-Israel BM		4,151,422		40,366,804
Check Point Software Technologies Ltd.^(a)		204,675		25,502,502
ICL Group Ltd.		1,564,646		14,257,706
Isracard Ltd.		2		5
Mizrahi Tefahot Bank Ltd.		492,764		18,319,014


				135,229,764

Italy — 2.4%
DiaSorin SpA		110,881		15,417,164
Eni SpA		708,957		8,522,074
Ferrari NV		154,532		32,816,760
FinecoBank Banca Fineco SpA		704,177		8,751,486
Infrastrutture Wireless Italiane SpA^(b)		1,818,498		19,109,457
Recordati Industria Chimica e Farmaceutica SpA		473,298		20,990,432
Snam SpA		5,590,692		28,051,477
Terna - Rete Elettrica Nazionale		1,343,118		10,282,647


				143,941,497

Japan — 27.4%
Ajinomoto Co. Inc.		788,100		20,739,622
Astellas Pharma Inc.		281,400		4,407,114
Bandai Namco Holdings Inc.		105,800		8,265,350
Bridgestone Corp.		394,900		15,403,412
Canon Inc.		1,929,800		45,654,859
Central Japan Railway Co.		122,900		14,391,206
Chubu Electric Power Co. Inc.		2,589,400		27,622,193
Chugai Pharmaceutical Co. Ltd.		819,700		23,027,656
East Japan Railway Co.		609,900		31,841,027
ENEOS Holdings Inc.		5,751,000		22,247,181
Fast Retailing Co. Ltd.		7,600		4,602,486
FUJIFILM Holdings Corp.		426,400		24,356,830
Hamamatsu Photonics KK		154,500		7,020,615


Security	Shares		Value

Japan (continued)
Hankyu Hanshin Holdings Inc.		264,600	$	7,675,180
Hikari Tsushin Inc.		44,100		4,859,300
Hirose Electric Co. Ltd.		248,000		35,629,029
Hitachi Metals Ltd.^(a)		1,743,000		26,801,853
Idemitsu Kosan Co. Ltd.		1,038,500		27,005,986
ITOCHU Corp.		1,583,200		46,086,415
Itochu Techno-Solutions Corp.		254,900		6,831,241
Japan Post Bank Co. Ltd.^(c)		3,220,000		25,758,902
Japan Post Holdings Co. Ltd.		3,924,300		28,254,297
Japan Tobacco Inc.		1,415,400		25,414,372
Kao Corp.		142,800		6,210,999
KDDI Corp.		1,053,100		33,764,827
Keio Corp.		335,600		12,850,156
Keisei Electric Railway Co. Ltd.		167,700		4,597,803
Kintetsu Group Holdings Co. Ltd.		801,900		26,500,340
Kirin Holdings Co. Ltd.		243,300		4,001,884
Kobayashi Pharmaceutical Co. Ltd.		111,100		7,401,470
Kyowa Kirin Co. Ltd.		190,100		4,481,650
McDonald’s Holdings Co. Japan Ltd.		701,400		26,327,353
MEIJI Holdings Co. Ltd.		582,200		30,396,665
Mitsubishi Corp.		799,800		23,769,478
Mitsubishi UFJ Financial Group Inc.		3,791,200		21,361,485
Mizuho Financial Group Inc.		4,442,420		52,981,960
MonotaRO Co. Ltd.		550,600		9,831,147
MS&AD Insurance Group Holdings Inc.		170,800		5,539,272
Murata Manufacturing Co. Ltd.		146,800		8,574,690
NEC Corp.		444,100		16,393,698
Nintendo Co. Ltd.		11,300		5,053,055
Nippon Express Holdings Inc.		61,900		3,698,859
Nippon Prologis REIT Inc.		16,501		42,910,948
Nippon Shinyaku Co. Ltd.		139,700		8,646,253
Nippon Telegraph & Telephone Corp.		2,019,300		57,681,948
Nissin Foods Holdings Co. Ltd.		414,900		30,049,579
Nitori Holdings Co. Ltd.		323,700		34,246,998
Nitto Denko Corp.		45,700		2,942,864
Nomura Research Institute Ltd.		219,500		6,594,724
Obic Co. Ltd.		161,900		25,882,893
Odakyu Electric Railway Co. Ltd.		606,900		8,704,411
Ono Pharmaceutical Co. Ltd.		1,350,400		37,971,760
Oracle Corp. Japan		88,200		5,500,876
Oriental Land Co. Ltd./Japan		210,500		31,959,942
Osaka Gas Co. Ltd.		1,582,500		28,450,338
Otsuka Corp.		293,900		9,165,472
Otsuka Holdings Co. Ltd.		1,250,500		44,671,549
Pan Pacific International Holdings Corp.		1,102,800		17,171,114
Secom Co. Ltd.		499,100		33,334,922
Sekisui House Ltd.		890,500		15,771,998
Seven & i Holdings Co. Ltd.		579,200		23,608,312
SG Holdings Co. Ltd.		1,670,000		31,871,170
Shimano Inc.		126,000		21,047,822
Shionogi & Co. Ltd.		165,100		8,468,218
Shizuoka Bank Ltd. (The)		2,184,100		13,216,899
SoftBank Corp.		6,189,800		71,568,024
Sumitomo Mitsui Financial Group Inc.		256,000		8,031,255
Suntory Beverage & Food Ltd.		824,000		32,512,931
Takeda Pharmaceutical Co. Ltd.		1,125,100		33,010,650
Tobu Railway Co. Ltd.		694,900		16,500,318
Tokio Marine Holdings Inc.		206,500		12,088,493
Tokyo Gas Co. Ltd.		992,500		19,493,601
Tokyu Corp.		260,800		3,197,819


Security	Shares		Value

Japan (continued)
Trend Micro Inc/Japan		158,400	$	9,205,290
USS Co. Ltd.		1,785,900		35,043,852
Welcia Holdings Co. Ltd.		767,800		17,148,738
West Japan Railway Co.		327,800		12,040,328
Yakult Honsha Co. Ltd.		327,000		19,914,132
Yamato Holdings Co. Ltd.		487,100		8,523,763


				1,625,783,121

Netherlands — 2.7%
Davide Campari-Milano NV		404,279		4,488,249
Heineken NV		130,841		12,899,196
Koninklijke Ahold Delhaize NV		2,770,295		76,290,391
Koninklijke DSM NV		143,197		22,932,864
Koninklijke KPN NV		2,788,438		9,199,030
OCI NV		75,279		2,613,434
Wolters Kluwer NV		310,581		33,729,799


				162,152,963

New Zealand — 0.5%
Auckland International Airport Ltd.^(a)		1,943,701		9,127,025
Fisher & Paykel Healthcare Corp. Ltd.		560,360		7,493,484
Spark New Zealand Ltd.		4,793,020		15,412,315


				32,032,824

Norway — 0.2%
Telenor ASA		1,172,013		14,233,099


Portugal — 0.8%
Jeronimo Martins SGPS SA		1,906,498		44,129,605


Singapore — 4.3%
DBS Group Holdings Ltd.		2,277,200		51,961,939
Oversea-Chinese Banking Corp. Ltd.^(c)		4,734,999		40,127,684
Singapore Exchange Ltd.		6,141,500		44,025,903
Singapore Technologies Engineering Ltd.		11,479,800		33,472,335
Singapore Telecommunications Ltd.		15,021,500		28,406,750
United Overseas Bank Ltd.		2,501,100		49,900,280
Venture Corp. Ltd.		726,300		9,253,221


				257,148,112

Spain — 1.3%
Aena SME SA^(a)(b)		63,453		8,026,147
Cellnex Telecom SA^(b)		117,525		5,256,785
Endesa SA		659,689		12,091,717
Grifols SA^(c)		693,001		10,112,009
Iberdrola SA		1,299,152		13,872,960
Iberdrola SA, NVS		36,610		390,257
Red Electrica Corp. SA		1,447,446		28,457,343


				78,207,218

Sweden — 0.5%
Telefonaktiebolaget LM Ericsson, Class B		1,485,863		11,301,836
Telia Co. AB		4,458,114		16,469,819


				27,771,655

Switzerland — 15.2%
Alcon Inc.		58,715		4,621,110
Bachem Holding AG, Class A		40,266		2,715,276
Barry Callebaut AG, Registered		15,402		34,125,629
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS		2,614		28,907,341
EMS-Chemie Holding AG, Registered		55,953		44,431,419
Geberit AG, Registered		56,763		29,895,747
Givaudan SA, Registered		21,120		73,826,157
Kuehne + Nagel International AG, Registered		165,628		44,607,153


Security	Shares		Value

Switzerland (continued)
Logitech International SA, Registered		242,856	$	13,663,604
Lonza Group AG, Registered		35,807		21,761,751
Nestle SA, Registered		757,877		92,860,598
Novartis AG, Registered		1,002,770		86,167,655
Partners Group Holding AG		9,846		10,749,330
Roche Holding AG, Bearer		165,534		67,482,357
Roche Holding AG, NVS		261,666		86,874,294
Schindler Holding AG, Participation Certificates, NVS		86,760		16,958,006
Schindler Holding AG, Registered		160,056		30,392,512
SGS SA, Registered		17,891		43,662,404
Swatch Group AG (The), Registered		77,119		3,851,222
Swiss Prime Site AG, Registered		624,300		56,850,995
Swisscom AG, Registered		152,625		82,514,772
Vifor Pharma AG ^(a)		94,550		16,519,058
Zurich Insurance Group AG		18,785		8,200,185


				901,638,575

United Kingdom — 10.6%
Admiral Group PLC		1,093,681		25,561,052
AstraZeneca PLC		462,287		60,809,790
Bunzl PLC		533,113		20,008,078
Croda International PLC		615,297		56,268,909
DCC PLC		91,036		5,943,677
Diageo PLC		128,977		6,109,880
GSK PLC		2,789,358		58,604,977
Haleon PLC^(a)		3,486,701		12,390,131
Halma PLC		177,349		4,994,658
Hikma Pharmaceuticals PLC		585,717		12,380,299
HSBC Holdings PLC		6,775,680		42,442,568
J Sainsbury PLC		6,868,459		18,528,151
National Grid PLC		5,507,526		75,836,394
Reckitt Benckiser Group PLC		628,561		50,985,558
RELX PLC		1,268,637		37,563,632
Rentokil Initial PLC		605,849		4,000,396
Sage Group PLC (The)		649,673		5,598,955
Segro PLC		287,096		3,840,764


Security	Shares		Value

United Kingdom (continued)
Severn Trent PLC		386,596	$	13,898,831
Spirax-Sarco Engineering PLC		27,536		4,017,748
Tesco PLC		12,330,610		39,545,938
Unilever PLC		1,250,865		60,920,737
United Utilities Group PLC		740,364		9,836,872


				630,087,995


Total Long-Term Investments — 99.3% (Cost: $6,130,648,672)				5,892,423,908


Short-Term Securities

Money Market Funds — 0.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(d)(e)(f)		2,760,389		2,760,113
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(d)(e)		980,000		980,000


Total Short-Term Securities — 0.1% (Cost: $3,739,450)				3,740,113


Total Investments in Securities — 99.4% (Cost: $6,134,388,122)				5,896,164,021

Other Assets Less Liabilities — 0.6%				37,810,936


Net Assets — 100.0%			$	5,933,974,957

^(a)	Non-income producing security.

^(b)	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.

^(c)	All or a portion of this security is on loan.

^(d)	Affiliate of the Fund.

^(e)	Annualized 7-day yield as of period end.

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

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value

Common Stocks

Aerospace & Defense — 0.7%
Aerojet Rocketdyne Holdings Inc.^(a)		37,017	$	1,617,273
BWX Technologies Inc.		44,452		2,519,539
National Presto Industries Inc.		9,913		705,805
Parsons Corp.^(a)(b)		13,090		565,881


				5,408,498

Air Freight & Logistics — 0.5%
Air Transport Services Group Inc.^(a)		32,189		1,008,803
Atlas Air Worldwide Holdings Inc.^(a)		7,439		563,207
Forward Air Corp.		4,777		501,251
Hub Group Inc., Class A^(a)		19,340		1,477,576


				3,550,837

Auto Components — 1.1%
Dorman Products Inc.^(a)(b)		40,917		4,136,299
Gentex Corp.		108,057		3,049,369
Standard Motor Products Inc.		20,626		943,433


				8,129,101

Banks — 4.4%
Arrow Financial Corp.		32,978		1,106,412
Bank First Corp.		14,042		1,080,111
Capital City Bank Group Inc.		28,769		931,828
CBTX Inc.		30,888		955,984
City Holding Co.		23,821		2,067,425
Commerce Bancshares Inc.		58,629		4,074,129
Community Bank System Inc.		4,977		335,101
CVB Financial Corp.		32,180		858,241
Eastern Bankshares Inc.		297,427		6,067,511
First Financial Corp./IN^(b)		23,961		1,119,458
First Interstate BancSystem Inc., Class A		19,255		785,219
German American Bancorp. Inc.		45,152		1,708,552
HarborOne Bancorp Inc.		92,805		1,345,672
Nicolet Bankshares Inc.^(a)(b)		17,780		1,422,044
Northwest Bancshares Inc.		177,639		2,554,449
Origin Bancorp Inc.		39,504		1,701,437
Park National Corp.		27,083		3,508,873
Westamerica Bancorp		43,144		2,589,071


				34,211,517

Biotechnology — 7.8%
2seventy bio Inc.^(a)		32,158		462,754
Agios Pharmaceuticals Inc.^(a)(b)		35,490		765,519
Albireo Pharma Inc.^(a)		32,031		665,924
Alkermes PLC^(a)		220,235		5,638,016
AnaptysBio Inc.^(a)(b)		30,543		639,570
Arcutis Biotherapeutics Inc.^(a)		29,252		709,654
Blueprint Medicines Corp.^(a)		8,442		431,049
Celularity Inc.^(a)(b)		49,261		148,276
Coherus Biosciences Inc.^(a)		113,944		965,106
Eagle Pharmaceuticals Inc./DE^(a)		21,905		869,629
Enanta Pharmaceuticals Inc.^(a)		36,246		1,998,967
EQRx Inc.^(a)(b)		270,121		1,472,159
Exelixis Inc.^(a)		423,521		8,860,059
Geron Corp.^(a)(b)		420,362		798,688
Halozyme Therapeutics Inc.^(a)(b)		108,643		5,312,643
Ionis Pharmaceuticals Inc.^(a)(b)		103,923		3,903,348
Ironwood Pharmaceuticals Inc.^(a)		267,627		3,064,329
iTeos Therapeutics Inc.^(a)		31,415		768,411
Madrigal Pharmaceuticals Inc.^(a)(b)		6,503		408,518
Mirati Therapeutics Inc.^(a)		8,546		550,362


Security	Shares		Value

Biotechnology (continued)
Mirum Pharmaceuticals Inc.^(a)		15,767	$	395,752
Point Biopharma Global Inc.^(a)(b)		61,786		453,509
PTC Therapeutics Inc.^(a)(b)		54,782		2,385,756
Sarepta Therapeutics Inc.^(a)		12,412		1,153,695
Syndax Pharmaceuticals Inc.^(a)		33,018		672,577
United Therapeutics Corp.^(a)		50,089		11,574,065
Vanda Pharmaceuticals Inc.^(a)		96,601		1,041,359
Vir Biotechnology Inc.^(a)		31,082		864,390
Xencor Inc.^(a)(b)		103,552		2,970,907


				59,944,991

Building Products — 1.1%
AAON Inc.^(b)		21,307		1,282,042
Carlisle Companies Inc.		14,355		4,250,516
CSW Industrials Inc.		26,105		3,118,764


				8,651,322

Capital Markets — 1.5%
Diamond Hill Investment Group Inc.		5,378		1,028,112
Freedom Holding Corp./NV^(a)(b)		31,060		1,662,642
Houlihan Lokey Inc.		40,335		3,410,728
Morningstar Inc.		8,263		2,109,957
Virtu Financial Inc., Class A		153,351		3,577,679


				11,789,118

Chemicals — 2.8%
Ashland Global Holdings Inc.		17,876		1,796,002
Balchem Corp.		42,535		5,774,552
GCP Applied Technologies Inc.^(a)		89,526		2,820,069
NewMarket Corp.		14,510		4,509,708
Sensient Technologies Corp.		53,195		4,573,706
Stepan Co.		21,017		2,358,317


				21,832,354

Commercial Services & Supplies — 1.2%
Brady Corp., Class A, NVS		40,645		1,944,863
Casella Waste Systems Inc., Class A^(a)		42,809		3,465,388
Ennis Inc.		49,542		1,082,493
Stericycle Inc.^(a)(b)		19,963		935,666
UniFirst Corp./MA^(b)		10,373		2,031,967


				9,460,377

Communications Equipment — 1.3%
Ciena Corp.^(a)		40,826		2,106,621
Lumentum Holdings Inc.^(a)(b)		5,222		472,382
NETGEAR Inc.^(a)		39,079		1,007,457
NetScout Systems Inc.^(a)		50,622		1,801,131
Viavi Solutions Inc.^(a)(b)		302,441		4,476,127


				9,863,718

Construction & Engineering — 0.6%
Argan Inc.		29,692		1,103,355
MDU Resources Group Inc.		125,431		3,583,563


				4,686,918

Containers & Packaging — 3.0%
AptarGroup Inc.		92,276		9,943,662
Berry Global Group Inc.^(a)		28,180		1,624,577
Silgan Holdings Inc.		165,341		7,357,674
Sonoco Products Co.		69,224		4,395,032


				23,320,945

Diversified Consumer Services — 3.4%
frontdoor Inc.^(a)(b)		101,282		2,711,319
Graham Holdings Co., Class B		2,695		1,602,151
Grand Canyon Education Inc.^(a)		39,654		3,809,560


Security	Shares		Value

Diversified Consumer Services (continued)
H&R Block Inc.		80,037	$	3,198,278
Perdoceo Education Corp.^(a)		36,513		500,228
Service Corp. International		120,186		8,949,050
Terminix Global Holdings Inc.^(a)		123,952		5,540,654


				26,311,240

Diversified Financial Services — 0.1%
Cannae Holdings Inc.^(a)		23,214		490,048


Diversified Telecommunication Services — 1.5%
Anterix Inc.^(a)		24,000		1,067,760
ATN International Inc.		20,817		958,415
Cogent Communications Holdings Inc.		76,067		4,853,835
EchoStar Corp., Class A^(a)(b)		30,324		599,202
Frontier Communications Parent Inc.^(a)		134,388		3,481,993
Radius Global Infrastructure Inc., Class A^(a)		25,710		392,849


				11,354,054

Electric Utilities — 3.9%
Hawaiian Electric Industries Inc.		83,548		3,534,080
IDACORP Inc.		89,421		9,990,114
MGE Energy Inc.		36,921		3,004,631
PNM Resources Inc.		113,974		5,501,525
Portland General Electric Co.		156,685		8,044,208


				30,074,558

Electronic Equipment, Instruments & Components — 1.0%
National Instruments Corp.		20,948		796,024
OSI Systems Inc.^(a)(b)		31,266		3,022,484
Rogers Corp.^(a)		8,825		2,376,132
Vontier Corp.^(b)		65,995		1,702,671


				7,897,311

Entertainment — 1.4%
Liberty Media Corp.-Liberty Braves, Class C, NVS^(a)		73,227		2,026,191
Madison Square Garden Entertainment Corp.^(a)(b)		8,361		486,861
Madison Square Garden Sports Corp.^(a)		27,619		4,247,250
World Wrestling Entertainment Inc., Class A^(b)		58,469		4,052,486


				10,812,788

Equity Real Estate Investment Trusts (REITs) — 6.6%
Agree Realty Corp.		30,321		2,413,248
Alexander’s Inc.		4,442		1,081,671
Americold Realty Trust Inc.^(b)		150,396		4,925,469
Broadstone Net Lease Inc.		279,149		6,328,308
CBL & Associates Properties Inc.		23,549		725,074
Centerspace		8,566		735,734
CubeSmart		183,651		8,424,071
Easterly Government Properties Inc.		155,666		3,155,350
EastGroup Properties Inc.		2,958		504,457
Equity Commonwealth^(a)		212,675		5,965,534
First Industrial Realty Trust Inc.		15,995		830,940
Gladstone Land Corp.^(b)		51,906		1,407,172
Indus Realty Trust Inc.		7,609		464,758
JBG SMITH Properties		51,193		1,302,350
Life Storage Inc.		53,474		6,731,842
NETSTREIT Corp.		82,539		1,692,050
Rexford Industrial Realty Inc.		17,519		1,145,918
Terreno Realty Corp.		31,130		1,950,294
Washington Real Estate Investment Trust		34,159		757,305


				50,541,545

Food & Staples Retailing — 2.7%
BJ’s Wholesale Club Holdings Inc.^(a)		77,832		5,269,226
Casey’s General Stores Inc.		10,077		2,042,104


Security	Shares		Value

Food & Staples Retailing (continued)
Grocery Outlet Holding Corp.^(a)(b)		33,711	$	1,440,134
Ingles Markets Inc., Class A^(b)		25,643		2,447,881
SpartanNash Co.		62,756		2,026,391
Sprouts Farmers Market Inc.^(a)		199,679		5,519,128
Weis Markets Inc.		30,296		2,330,671


				21,075,535

Food Products — 5.0%
B&G Foods Inc.		39,489		975,773
Cal-Maine Foods Inc.		70,298		3,592,931
Flowers Foods Inc.		377,368		10,721,025
Hain Celestial Group Inc. (The)^(a)		161,950		3,684,363
Hostess Brands Inc.^(a)		136,986		3,098,623
J&J Snack Foods Corp.^(b)		6,767		916,996
John B Sanfilippo & Son Inc.		17,494		1,310,301
Lancaster Colony Corp.		36,130		4,782,889
Post Holdings Inc.^(a)(b)		22,410		1,948,325
Seaboard Corp.		535		2,172,442
Tootsie Roll Industries Inc.		29,601		1,039,587
TreeHouse Foods Inc.^(a)		93,611		4,064,590


				38,307,845

Gas Utilities — 1.2%
Chesapeake Utilities Corp.		9,724		1,333,452
Northwest Natural Holding Co.		13,719		736,299
ONE Gas Inc.		42,519		3,611,564
Spire Inc.		35,610		2,679,297
Star Group LP		63,204		621,927


				8,982,539

Health Care Equipment & Supplies — 2.1%
Atrion Corp.		2,528		1,708,675
ICU Medical Inc.^(a)(b)		26,051		4,615,456
Integra LifeSciences Holdings Corp.^(a)		24,511		1,349,085
Meridian Bioscience Inc.^(a)(b)		51,879		1,642,489
Mesa Laboratories Inc.		9,698		2,068,099
Neogen Corp.^(a)		43,816		1,013,464
Omnicell Inc.^(a)		3,651		402,048
OraSure Technologies Inc.^(a)		86,690		265,271
QuidelOrtho Corp.^(a)		24,588		2,508,960
Tandem Diabetes Care Inc.^(a)		5,198		344,160


				15,917,707

Health Care Providers & Services — 2.9%
Chemed Corp.		14,819		7,129,273
Contra Zogenix Inc., NVS^(b)(c)		43,886		29,842
CorVel Corp.^(a)		15,568		2,567,008
National HealthCare Corp.		27,634		1,962,843
Patterson Companies Inc.		75,919		2,358,044
Premier Inc., Class A		223,089		8,580,003


				22,627,013

Health Care Technology — 1.8%
Allscripts Healthcare Solutions Inc.^(a)(b)		29,799		471,420
Change Healthcare Inc.^(a)		464,481		11,272,954
Computer Programs & Systems Inc.^(a)		26,053		879,549
HealthStream Inc.^(a)		44,314		1,066,195
NextGen Healthcare Inc.^(a)(b)		29,880		511,546


				14,201,664

Hotels, Restaurants & Leisure — 0.4%
Papa John’s International Inc.		29,761		2,853,782


Household Durables — 0.5%
Helen of Troy Ltd.^(a)		30,240		4,045,810


Security	Shares		Value

Household Products — 1.0%
Reynolds Consumer Products Inc.		118,555	$	3,445,208
WD-40 Co.^(b)		22,149		3,928,568


				7,373,776

Insurance — 5.2%
AMERISAFE Inc.		35,257		1,606,309
Axis Capital Holdings Ltd.		90,819		4,585,451
Donegal Group Inc., Class A		32,454		459,549
Employers Holdings Inc.		44,651		1,773,091
Enstar Group Ltd.^(a)		21,601		4,275,270
Hanover Insurance Group Inc. (The)		63,277		8,635,412
Mercury General Corp.		53,838		2,257,427
ProAssurance Corp.^(b)		58,737		1,299,850
RenaissanceRe Holdings Ltd.		27,219		3,519,689
Safety Insurance Group Inc.		23,736		2,054,351
Selective Insurance Group Inc.		37,296		2,903,867
White Mountains Insurance Group Ltd.		5,645		6,996,582


				40,366,848

Interactive Media & Services — 0.3%
Ziff Davis Inc.^(a)		30,253		2,477,418


IT Services — 3.1%
Cass Information Systems Inc.		12,637		460,745
CSG Systems International Inc.^(b)		61,440		4,008,960
EVERTEC Inc.		71,029		2,769,421
ExlService Holdings Inc.^(a)		5,494		925,025
Hackett Group Inc. (The)^(b)		45,102		945,789
International Money Express Inc.^(a)		38,939		936,093
Maximus Inc.		107,489		7,185,640
Switch Inc., Class A		179,695		6,075,488
Tucows Inc., Class A^(a)(b)		15,578		720,794


				24,027,955

Leisure Products — 0.6%
Johnson Outdoors Inc., Class A		6,474		435,765
Mattel Inc.^(a)(b)		95,148		2,207,434
Sturm Ruger & Co. Inc.		32,704		2,162,715


				4,805,914

Machinery — 1.3%
Graco Inc.		83,097		5,580,795
Toro Co. (The)		51,782		4,452,734


				10,033,529

Media — 1.2%
John Wiley & Sons Inc., Class A		41,119		2,147,234
New York Times Co. (The), Class A		103,349		3,302,001
Scholastic Corp., NVS		55,002		2,588,944
TEGNA Inc.		30,945		647,988
WideOpenWest Inc.^(a)(b)		25,531		469,260


				9,155,427

Metals & Mining — 2.1%
McEwen Mining Inc., NVS^(b)		71,985		280,024
Reliance Steel & Aluminum Co.		18,202		3,462,930
Royal Gold Inc.^(b)		100,832		10,564,169
Warrior Met Coal Inc.		53,600		1,711,448


				16,018,571

Mortgage Real Estate Investment — 2.5%
AGNC Investment Corp.		806,270		10,167,065
ARMOUR Residential REIT Inc.		175,637		1,382,263
Broadmark Realty Capital Inc.		242,551		1,840,962
Dynex Capital Inc.		67,858		1,140,015


Security	Shares		Value

Mortgage Real Estate Investment (continued)
Ellington Financial Inc.		98,327	$	1,578,148
Franklin BSP Realty Trust Inc.		79,026		1,213,049
New York Mortgage Trust Inc.		498,963		1,566,744


				18,888,246

Multi-Utilities — 1.2%
Avista Corp.		113,063		4,778,042
NorthWestern Corp.		81,264		4,506,089


				9,284,131

Oil, Gas & Consumable Fuels — 1.1%
Enviva Inc.		61,755		4,300,001
Hess Midstream LP		79,077		2,405,522
Kimbell Royalty Partners LP		75,367		1,343,040


				8,048,563

Personal Products — 0.1%
USANA Health Sciences Inc.^(a)		14,101		981,712


Pharmaceuticals — 3.5%
Amphastar Pharmaceuticals Inc.^(a)		71,602		2,677,199
Cara Therapeutics Inc.^(a)(b)		44,754		391,150
Collegium Pharmaceutical Inc.^(a)		60,736		1,044,052
Corcept Therapeutics Inc.^(a)(b)		118,720		3,402,515
Innoviva Inc.^(a)		116,270		1,667,312
Organon & Co.		14,936		473,770
Pacira BioSciences Inc.^(a)		25,121		1,420,844
Perrigo Co. PLC		87,187		3,650,520
Phibro Animal Health Corp., Class A		21,366		418,133
Prestige Consumer Healthcare Inc.^(a)		94,266		5,685,182
Roivant Sciences Ltd.^(a)(b)		446,603		1,777,480
SIGA Technologies Inc.		83,383		1,433,354
Supernus Pharmaceuticals Inc.^(a)		51,414		1,632,394
Theravance Biopharma Inc.^(a)		84,374		741,647
Tricida Inc.^(a)(b)		38,119		349,170


				26,764,722

Professional Services — 3.0%
CACI International Inc., Class A^(a)(b)		13,048		3,944,280
CBIZ Inc.^(a)		83,871		3,826,195
Dun & Bradstreet Holdings Inc.^(a)(b)		139,822		2,203,595
Exponent Inc.		12,458		1,251,904
FTI Consulting Inc.^(a)		60,119		9,833,064
Heidrick & Struggles International Inc.		13,239		412,262
ManTech International Corp./VA, Class A		19,680		1,885,738


				23,357,038

Real Estate Management & Development — 0.2%
Five Point Holdings LLC, Class A^(a)(b)		101,772		429,478
FRP Holdings Inc.^(a)(b)		11,649		687,291
Tejon Ranch Co.^(a)		40,674		671,934


				1,788,703

Road & Rail — 2.9%
Heartland Express Inc.		110,404		1,753,215
Landstar System Inc.		66,728		10,448,270
Marten Transport Ltd.		123,937		2,672,082
Schneider National Inc., Class B^(b)		105,921		2,682,979
Werner Enterprises Inc.		110,425		4,854,283


				22,410,829

Software — 2.8%
Aspen Technology Inc.^(a)		2,069		422,262
Box Inc., Class A^(a)		33,964		965,936
CommVault Systems Inc.^(a)		21,635		1,213,507


Security	Shares		Value

Software (continued)
Dolby Laboratories Inc., Class A		88,853	$	6,877,222
Envestnet Inc.^(a)		12,568		732,337
InterDigital Inc.		28,889		1,773,496
Progress Software Corp.		27,888		1,309,621
Qualys Inc.^(a)		8,498		1,039,476
SPS Commerce Inc.^(a)		10,728		1,284,785
Verint Systems Inc.^(a)		122,388		5,589,460


				21,208,102

Specialty Retail — 2.1%
Arko Corp.		87,333		797,350
AutoNation Inc.^(a)		8,722		1,035,650
Monro Inc.		10,114		507,217
Murphy USA Inc.		41,718		11,862,931
Sportsman’s Warehouse Holdings Inc.^(a)		42,246		416,546
Winmark Corp.		5,655		1,256,258


				15,875,952

Textiles, Apparel & Luxury Goods — 0.2%
Columbia Sportswear Co.		24,497		1,813,023


Thrifts & Mortgage Finance — 1.3%
Capitol Federal Financial Inc.		146,472		1,404,666
Columbia Financial Inc.^(a)		72,864		1,482,054
Hingham Institution For Savings (The)		2,796		810,868
Kearny Financial Corp./MD		129,567		1,517,229
Northfield Bancorp. Inc.		79,793		1,174,553
PennyMac Financial Services Inc.		17,982		985,234
TFS Financial Corp.		107,749		1,578,523
Waterstone Financial Inc.		40,837		761,610


				9,714,737

Trading Companies & Distributors — 1.5%
McGrath RentCorp		6,578		554,920
MSC Industrial Direct Co. Inc., Class A		40,735		3,367,155
Watsco Inc.		28,162		7,714,980


				11,637,055

Water Utilities — 1.5%
American States Water Co.		66,078		5,760,019


Security	Shares		Value

Water Utilities (continued)
California Water Service Group		78,340	$	4,706,667
SJW Group		19,506		1,280,764


				11,747,450

Wireless Telecommunication Services — 0.6%
Shenandoah Telecommunications Co.		89,173		1,988,558
Telephone and Data Systems Inc.		98,366		1,555,166
United States Cellular Corp.^(a)		30,710		899,496


				4,443,220


Total Long-Term Investments — 99.8% (Cost: $724,113,330)				768,566,056


Short-Term Securities

Money Market Funds — 4.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.93%^(d)(e)(f)		29,775,868		29,772,890
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%^(d)(e)		1,800,000		1,800,000


Total Short-Term Securities — 4.1% (Cost: $31,568,102)				31,572,890


Total Investments in Securities — 103.9% (Cost: $755,681,432)				800,138,946

Liabilities in Excess of Other Assets — (3.9)%				(29,971,020	)


Net Assets — 100.0%			$	770,167,926

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

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

^(d)	Affiliate of the Fund.

^(e)	Annualized 7-day yield as of period end.

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

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the period ended July 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):

Foreign Taxes: Certain 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 “Other foreign taxes”, and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2022, if any, are disclosed in the Statements of Assets and Liabilities.

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

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

For its investment advisory services to the iShares MSCI EAFE Min Vol Factor ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

For its investment advisory services to the iShares MSCI USA Small-Cap Min Vol Factor ETF, BFA is entitled to an annual investment advisory fee of 0.20%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

Expense Waivers: The total of the investment advisory fee and any other fund expenses is a fund’s total annual operating expenses. For the iShares MSCI EAFE Min Vol Factor ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2026 in order to limit the Fund’s total annual operating expenses after fee waiver to 0.20% of average daily net assets.

ETF Servicing Fees: iShares MSCI USA Small-Cap Min Vol Factor ETF has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units (“ETF Services”). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. iShares MSCI USA Small-Cap Min Vol Factor ETF do not pay BRIL for ETF Services.

Prior to April 25, 2022, ETF Services were performed by State Street Bank and Trust Company.

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 BFA, 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 each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% of the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.

Pursuant to the current securities lending agreement, the iShares MSCI USA Small-Cap Min Vol Factor ETF (the “Group 1 Fund”), retains 77% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Pursuant to the current securities lending agreement, the iShares MSCI EAFE Min Vol Factor ETF (the “Group 2 Fund”), retains 82% of securities lending income (which excludes collateral investment fees) and the 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 plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the “iShares ETF Complex”) in a given calendar year exceeds a specified threshold: (1) the Group 1 Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees, and (2) the Group 2 Fund will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Prior to January 1, 2022, the Group 1 Fund retained 77% of securities lending income (which excludes collateral investment fees) and the amount retained was not less than 70% of the total of securities lending income plus the collateral investment fees. The Group 2 Fund retained 82% of securities lending income (which excludes collateral investment fees) and the amount retained was not 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 plus the collateral investment fees generated across the iShares ETF Complex in a calendar year exceeded a specified threshold: (1) the Group 1 Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees, and (2) the Group 2 Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained could never be less than 70% of the total of securities lending income plus the collateral investment fees.

Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

For the year ended July 31, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

For the year ended July 31, 2022, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2022, permanent differences attributable to distributions paid in excess of taxable income and realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

As of July 31, 2022, the tax components of accumulated net earnings (losses) were as follows:

The Internal Revenue Service has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which the iShares MSCI EAFE Min Vol Factor ETF is able to pass through to its shareholders as a foreign tax credit in the current year, the Fund will be able to offset the prior years’ withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Fund.