N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number		811-09102
iShares, Inc.
(Exact name of registrant as specified in charter)
c/o: BlackRock Fund Advisors 400 Howard Street, San Francisco, CA				94105
(Address of principal executive offices)				(Zip code)
The Corporation Trust Incorporated 2405 York Road, Suite 201, Lutherville-Timonium, Maryland 21093
(Name and address of agent for service)
Registrant’s telephone number, including area code:			(415) 670-2000
Date of fiscal year end:	August 31, 2024
Date of reporting period:	February 29, 2024

Item 1.   Reports to Stockholders.

(a) The Report to Shareholders is attached herewith.

February

29,

2024

iShares,

Inc.

iShares

MSCI

USA

Equal

Weighted

ETF

|

EUSA

|

NYSE

Arca

2024

Semi-Annual

Report

(Unaudited)

Dear

Shareholder,

The

combination

of

continued

economic

growth

and

cooling

inflation

provided

a

supportive

backdrop

for

investors

during

the

12-month

reporting

period

ended

February

29,

2024.

Significantly

tighter

monetary

policy

helped

to

rein

in

inflation,

and

the

Consumer

Price

Index

decelerated

substantially

while

remaining

above

pre-pandemic

levels.

A

moderating

labor

market

helped

ease

inflationary

pressure,

although

wages

continued

to

grow.

Wage

and

job

growth

powered

robust

consumer

spending,

backstopping

the

economy.

On

October

7,

2023,

Hamas

launched

a

horrific

attack

on

Israel.

The

ensuing

war

will

have

a

significant

humanitarian

impact

and

could

lead

to

heightened

economic

and

market

volatility.

We

see

geopolitics

as

a

structural

market

risk

going

forward.

See

our

geopolitical

risk

dashboard

at

blackrock.com

for

more

details.

Equity

returns

were

robust

during

the

period,

as

interest

rates

stabilized

and

the

economy

proved

to

be

more

resilient

than

many

investors

expected.

The

U.S.

economy

continued

to

show

strength,

and

growth

further

accelerated

in

the

second

half

of

2023.

Large-capitalization

U.S.

stocks

posted

particularly

substantial

gains,

supported

by

the

performance

of

a

few

notable

technology

companies,

while

small-

capitalization

U.S.

stocks

advanced

at

a

significantly

slower

pace.

Meanwhile,

international

developed

market

equities

also

gained

strongly,

while

emerging

market

stocks

advanced

at

a

more

modest

pace.

The

10-year

U.S.

Treasury

yield

rose

during

the

reporting

period,

as

investors

reacted

to

elevated

inflation

and

attempted

to

anticipate

future

interest

rate

changes.

However,

higher

yields

drove

positive

returns

overall

for

10-year

U.S.

Treasuries

and

solid

gains

in

shorter-duration

U.S.

Treasuries.

The

corporate

bond

market

benefited

from

improving

economic

sentiment,

although

high-yield

corporate

bond

prices

fared

significantly

better

than

investment-grade

bonds

as

demand

from

yield-seeking

investors

remained

strong.

The

U.S.

Federal

Reserve

(the

“Fed”),

attempting

to

manage

persistent

inflation,

raised

interest

rates

three

times

during

the

12-month

period,

but

paused

its

tightening

after

its

July

meeting.

The

Fed

also

continued

to

reduce

its

balance

sheet

by

not

replacing

some

of

the

securities

that

reach

maturity.

Supply

constraints

appear

to

have

become

an

embedded

feature

of

the

new

macroeconomic

environment,

making

it

difficult

for

developed

economies

to

increase

production

without

sparking

higher

inflation.

Geopolitical

fragmentation

and

an

aging

population

risk

further

exacerbating

these

constraints,

keeping

the

labor

market

tight

and

wage

growth

high.

Although

the

Fed

has

stopped

tightening

for

now,

we

believe

that

the

new

economic

regime

means

that

the

Fed

will

need

to

maintain

high

rates

for

an

extended

period

despite

the

market’s

hopes

for

rapid

interest

rate

cuts,

as

reflected

in

the

recent

rally.

In

this

new

regime,

we

anticipate

greater

volatility

and

dispersion

of

returns,

creating

more

opportunities

for

selective

portfolio

management.

Looking

at

developed

market

stocks,

we

have

an

overweight

stance

on

U.S.

stocks

overall,

particularly

given

the

promise

of

emerging

AI

technologies.

We

are

also

overweight

Japanese

stocks

as

shareholder-

friendly

policies

generate

increased

investor

interest,

although

we

maintain

an

underweight

stance

on

European

stocks.

In

credit,

there

are

selective

opportunities

in

the

near

term

despite

tighter

credit

and

financial

conditions.

For

fixed

income

investing

with

a

six-

to

twelve-month

horizon,

we

see

the

most

attractive

investments

in

short-term

U.S.

Treasuries

and

hard-currency

emerging

market

bonds.

Overall,

our

view

is

that

investors

need

to

think

globally,

position

themselves

to

be

prepared

for

a

decarbonizing

economy,

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,

Rob

Kapito

President,

BlackRock,

Inc.

The

Markets

in

Review

Rob

Kapito

President,

BlackRock,

Inc.

Total

Returns

as

of

February

29,

2024

Past

performance

is

not

an

indication

of

future

results.

Index

performance

is

shown

for

illustrative

purposes

only.

You

cannot

invest

directly

in

an

index.

6-Month

12-Month

U.S.

large

cap

equities

(S&P

500

®

Index)

13.93%

30.45%

U.S.

small

cap

equities

(Russell

2000

®

Index)

8.97

10.05

International

equities

(MSCI

Europe,

Australasia,

Far

East

Index)

9.23

14.41

Emerging

market

equities

(MSCI

Emerging

Markets

Index)

4.93

8.73

3-month

Treasury

bills

(ICE

BofA

3-Month

U.S.

Treasury

Bill

Index)

2.69

5.22

U.S.

Treasury

securities

(ICE

BofA

10-Year

U.S.

Treasury

Index)

0.58

0.69

U.S.

investment

grade

bonds

(Bloomberg

U.S.

Aggregate

Bond

Index)

2.35

3.33

Tax-exempt

municipal

bonds

(Bloomberg

Municipal

Bond

Index)

4.33

5.42

U.S.

high

yield

bonds

(Bloomberg

U.S.

Corporate

High

Yield

2%

Issuer

Capped

Index)

6.18

11.01

2

This

Page

is

not

Part

of

Your

Fund

Report

Table

of

Contents

Page

3

The

Markets

in

Review

...................................................................................................

2

Semi-Annual

Report:

Fund

Summary

........................................................................................................

4

About

Fund

Performance

..................................................................................................

5

Disclosure

of Expenses

...................................................................................................

5

Schedule

of

Investments

..................................................................................................

6

Financial

Statements:

Statement

of

Assets

and

Liabilities

..........................................................................................

14

Statement

of

Operations

................................................................................................

15

Statements

of

Changes

in

Net

Assets

........................................................................................

16

Financial

Highlights

.....................................................................................................

17

Notes

to

Financial

Statements

...............................................................................................

18

Statement

Regarding

Liquidity

Risk

Management

Program

.............................................................................

24

Supplemental

Information

.................................................................................................

25

General

Information

.....................................................................................................

26

Glossary

of

Terms

Used

in

this

Report

..........................................................................................

27

iShares

®

MSCI

USA

Equal

Weighted

ETF

4

2024

iShares

Semi-Annual

Report

to

Shareholders

Fund

Summary

as

of

February

29,

2024

Investment

Objective

The

iShares

MSCI

USA

Equal

Weighted

ETF

(the

“Fund”)

seeks

to

track

the

investment

results

of

an

index

composed

of

equal

weighted

U.S.

equities,

as

represented

by

the

MSCI

USA

Equal

Weighted

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.

Performance

Index

performance

through

August

31,

2015

reflects

the

performance

of

the

MSCI

USA

Index.

Index

performance

beginning

on

September

1,

2015

reflects

the

performance

of

the

MSCI

USA

Equal

Weighted

Index.

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.

Expense

Example

Portfolio

Information

Average

Annual

Total

Returns

Cumulative

Total

Returns

6-Month

Total

Returns

1

Year

5

Years

10

Years

1

Year

5

Years

10

Years

Fund

NAV

....................

11.26

%

16.62

%

10.66

%

10.01

%

16.62

%

65.97

%

159.50

%

Fund

Market

..................

11.21

16.57

10.67

10.00

–

%

16.57

66.04

159.30

Index

.......................

11.23

16.63

10.77

10.13

16.63

66.75

162.38

Actual

Hypothetical

5%

Return

Beginning

Account

Value

(09/01/23)

Ending

Account

Value

(02/29/24)

Expenses

Paid

During

the

Period

(a)

Beginning

Account

Value

(09/01/23)

Ending

Account

Value

(02/29/24)

Expenses

Paid

During

the

Period

(a)

Annualized

Expense

Ratio

$

1,000.00

‌

$

1,112.60

‌

$

0.47

‌

$

1,000.00

‌

$

1,024.42

‌

$

0.45

‌

0.09

%

(a)

Expenses

are

equal

to

the

annualized

expense

ratio,

multiplied

by

the

average

account

value

over

the

period,

multiplied

by

182/366

(to

reflect

the

one-half

year

period

shown).

Other

fees,

such

as

brokerage

commissions

and

other

fees

to

financial

intermediaries,

may

be

paid

which

are

not

reflected

in

the

tables

and

examples

above.

See

“Disclosure

of

Expenses”

for

more

information.

SECTOR

ALLOCATION

Sector

Percent

of

Total

Investments

(a)

Information

Technology

............................

15.8‌

%

Industrials

.....................................

15.5‌

Financials

.....................................

14.8‌

Health

Care

...................................

11.8‌

Consumer

Discretionary

...........................

9.6‌

Consumer

Staples

...............................

6.8‌

Real

Estate

....................................

5.9‌

Materials

.....................................

5.5‌

Utilities

.......................................

5.1‌

Communication

Services

...........................

4.6‌

Energy

.......................................

4.6‌

a

a

(a)

Excludes

money

market

funds.

TEN

LARGEST

HOLDINGS

Security

Percent

of

Total

Investments

(a)

Constellation

Energy

Corp.

.........................

0.2‌

%

Celsius

Holdings,

Inc.

.............................

0.2‌

Block,

Inc.,

Class

A

..............................

0.2‌

Hormel

Foods

Corp.

..............................

0.2‌

Vistra

Corp.

...................................

0.2‌

Okta,

Inc.,

Class

A

...............................

0.2‌

Iron

Mountain,

Inc.

...............................

0.2‌

Robinhood

Markets,

Inc.,

Class

A

.....................

0.2‌

Hyatt

Hotels

Corp.,

Class

A

.........................

0.2‌

Quanta

Services,

Inc.

.............................

0.2‌

      aaa

aa

About

Fund

Performance

5

About

Fund

Performance/Disclosure

of

Expenses

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

the

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.

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, index

returns

do

not

include

brokerage

commissions

that

may

be

payable

on

secondary

market

transactions.

If

brokerage

commissions

were

included, index

returns

would

be

lower.

Disclosure

of Expenses

Shareholders

of

the

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

example

shown

(which

is

based

on

a

hypothetical

investment

of

$1,000

invested

at

the

beginning

of

the

period

and

held

through

the

end

of

the

period)

is

intended

to

assist

shareholders

both

in

calculating

expenses

based

on

an

investment

in

the

Fund

and

in

comparing

these

expenses

with

similar

costs

of

investing

in

other

funds.

The

expense

example

provides

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

example

also

provides

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 the

Fund

and

other

funds,

compare

the

5%

hypothetical

example

with

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

the

other

funds.

The

expenses

shown

in

the

expense

example

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

example

is

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.

Schedule

of

Investments

(unaudited)

February

29,

2024

iShares

®

MSCI

USA

Equal

Weighted

ETF

(Percentages

shown

are

based

on

Net

Assets)

6

2024

iShares

Semi-Annual

Report

to

Shareholders

Security

Shares

Value

a

Common

Stocks

Aerospace

&

Defense

 — 

2

.0

%

Axon

Enterprise,

Inc.

(a)

.....................

4,272

$

1,313,085

Boeing

Co.

(The)

(a)

........................

5,636

1,148,166

General

Dynamics

Corp.

....................

4,289

1,171,969

HEICO

Corp.

(b)

..........................

2,327

450,042

HEICO

Corp.

,

Class

A

......................

4,433

689,730

Howmet

Aerospace,

Inc.

....................

18,437

1,226,982

Huntington

Ingalls

Industries,

Inc.

..............

4,073

1,187,768

L3Harris

Technologies,

Inc.

..................

5,431

1,149,526

Lockheed

Martin

Corp.

.....................

2,718

1,163,956

Northrop

Grumman

Corp.

...................

2,551

1,176,062

RTX

Corp.

.............................

12,661

1,135,312

Textron,

Inc.

............................

13,449

1,197,903

TransDigm

Group,

Inc.

.....................

1,012

1,191,873

14,202,374

a

Air

Freight

&

Logistics

 — 

0

.6

%

CH

Robinson

Worldwide,

Inc.

................

15,900

1,177,872

Expeditors

International

of

Washington,

Inc.

.......

9,208

1,101,277

FedEx

Corp.

............................

4,858

1,209,496

United

Parcel

Service,

Inc.

,

Class

B

............

7,736

1,146,939

4,635,584

a

Automobile

Components

 — 

0

.5

%

Aptiv

PLC

(a)

.............................

14,538

1,155,625

BorgWarner,

Inc.

.........................

37,659

1,172,325

Lear

Corp.

.............................

8,492

1,166,376

3,494,326

a

Automobiles

 — 

0

.6

%

Ford

Motor

Co.

..........................

94,398

1,174,311

General

Motors

Co.

.......................

29,876

1,224,319

Rivian

Automotive,

Inc.

,

Class

A

(a)

(b)

.............

70,395

796,871

Tesla,

Inc.

(a)

.............................

5,737

1,158,186

4,353,687

a

Banks

 — 

2

.3

%

Bank

of

America

Corp.

.....................

33,893

1,169,986

Citigroup,

Inc.

...........................

21,299

1,181,881

Citizens

Financial

Group,

Inc.

................

37,646

1,181,708

Fifth

Third

Bancorp

.......................

34,282

1,177,244

First

Citizens

BancShares,

Inc.

,

Class

A

..........

761

1,197,669

Huntington

Bancshares,

Inc.

.................

91,213

1,189,417

JPMorgan

Chase

&

Co.

....................

6,464

1,202,692

KeyCorp

...............................

82,280

1,174,136

M&T

Bank

Corp.

.........................

8,368

1,169,344

PNC

Financial

Services

Group,

Inc.

(The)

........

7,784

1,145,805

Regions

Financial

Corp.

....................

62,890

1,171,641

Truist

Financial

Corp.

......................

31,916

1,116,422

U.S.

Bancorp

...........................

27,957

1,173,076

Wells

Fargo

&

Co.

........................

22,397

1,245,049

16,496,070

a

Beverages

 — 

1

.3

%

Brown-Forman

Corp.

,

Class

B

,

NVS

............

19,658

1,184,001

Celsius

Holdings,

Inc.

(a)

(b)

....................

17,894

1,460,508

Coca-Cola

Co.

(The)

......................

19,544

1,173,031

Constellation

Brands,

Inc.

,

Class

A

.............

4,726

1,174,505

Keurig

Dr

Pepper,

Inc.

.....................

37,027

1,107,478

Molson

Coors

Beverage

Co.

,

Class

B

...........

18,731

1,169,189

Monster

Beverage

Corp.

(a)

...................

20,739

1,225,675

PepsiCo,

Inc.

...........................

6,823

1,128,115

9,622,502

a

Security

Shares

Value

a

Biotechnology

 — 

2

.1

%

AbbVie,

Inc.

............................

6,517

$

1,147,318

Alnylam

Pharmaceuticals,

Inc.

(a)

...............

7,823

1,181,977

Amgen,

Inc.

............................

4,084

1,118,322

Biogen,

Inc.

(a)

...........................

5,240

1,137,028

BioMarin

Pharmaceutical,

Inc.

(a)

...............

12,915

1,114,306

Exact

Sciences

Corp.

(a)

.....................

18,861

1,085,073

Gilead

Sciences,

Inc.

......................

16,095

1,160,449

Incyte

Corp.

(a)

...........................

19,682

1,148,642

Moderna,

Inc.

(a)

..........................

13,015

1,200,504

Neurocrine

Biosciences,

Inc.

(a)

................

8,724

1,137,610

Regeneron

Pharmaceuticals,

Inc.

(a)

.............

1,216

1,174,765

United

Therapeutics

Corp.

(a)

..................

5,352

1,207,625

Vertex

Pharmaceuticals,

Inc.

(a)

................

2,735

1,150,724

14,964,343

a

Broadline

Retail

 — 

0

.6

%

Amazon.com,

Inc.

(a)

.......................

6,764

1,195,605

eBay,

Inc.

..............................

26,503

1,253,062

Etsy,

Inc.

(a)

.............................

14,976

1,073,629

MercadoLibre,

Inc.

(a)

.......................

654

1,043,326

4,565,622

a

Building

Products

 — 

1

.8

%

A

O

Smith

Corp.

.........................

14,344

1,189,117

Allegion

PLC

............................

8,690

1,111,190

Builders

FirstSource,

Inc.

(a)

..................

6,310

1,231,586

Carlisle

Companies,

Inc.

....................

3,368

1,178,800

Carrier

Global

Corp.

.......................

21,386

1,188,634

Fortune

Brands

Innovations,

Inc.

..............

14,561

1,184,392

Johnson

Controls

International

PLC

............

20,164

1,195,120

Lennox

International,

Inc.

...................

2,581

1,216,193

Masco

Corp.

............................

15,761

1,209,814

Owens

Corning

..........................

8,306

1,244,073

Trane

Technologies

PLC

....................

4,238

1,194,989

13,143,908

a

Capital

Markets

 — 

4

.8

%

Ameriprise

Financial,

Inc.

...................

2,902

1,182,159

Ares

Management

Corp.

,

Class

A

..............

8,597

1,140,220

Bank

of

New

York

Mellon

Corp.

(The)

...........

21,195

1,188,827

BlackRock,

Inc.

(c)

.........................

1,444

1,171,575

Blackstone,

Inc.

,

NVS

......................

9,004

1,150,891

Carlyle

Group,

Inc.

(The)

....................

25,903

1,187,652

Cboe

Global

Markets,

Inc.

...................

6,185

1,187,520

Charles

Schwab

Corp.

(The)

.................

17,801

1,188,751

CME

Group,

Inc.

,

Class

A

...................

5,399

1,189,670

Coinbase

Global,

Inc.

,

Class

A

(a)

...............

6,383

1,299,323

FactSet

Research

Systems,

Inc.

...............

2,494

1,153,674

Franklin

Resources,

Inc.

....................

42,900

1,177,605

Goldman

Sachs

Group,

Inc.

(The)

.............

3,040

1,182,712

Intercontinental

Exchange,

Inc.

...............

8,360

1,157,191

KKR

&

Co.,

Inc.

..........................

12,095

1,188,455

LPL

Financial

Holdings,

Inc.

..................

4,458

1,194,254

MarketAxess

Holdings,

Inc.

..................

5,235

1,117,201

Moody's

Corp.

...........................

3,092

1,173,167

Morgan

Stanley

..........................

13,340

1,147,774

MSCI,

Inc.

,

Class

A

.......................

2,012

1,128,672

Nasdaq,

Inc.

............................

20,661

1,161,148

Northern

Trust

Corp.

.......................

14,384

1,181,358

Raymond

James

Financial,

Inc.

...............

9,719

1,169,390

Robinhood

Markets,

Inc.

,

Class

A

(a)

.............

82,167

1,340,144

S&P

Global,

Inc.

.........................

2,711

1,161,338

SEI

Investments

Co.

.......................

17,251

1,160,130

State

Street

Corp.

........................

15,918

1,173,634

T

Rowe

Price

Group,

Inc.

...................

10,565

1,197,543

iShares

®

MSCI

USA

Equal

Weighted

ETF

Schedule

of

Investments

(unaudited)

(continued)

February

29,

2024

(Percentages

shown

are

based

on

Net

Assets)

7

Schedule

of

Investments

Security

Shares

Value

a

Capital

Markets

(continued)

Tradeweb

Markets,

Inc.

,

Class

A

...............

11,327

$

1,198,623

34,250,601

a

Chemicals

 — 

3

.0

%

Air

Products

and

Chemicals,

Inc.

..............

5,059

1,184,008

Albemarle

Corp.

.........................

9,357

1,289,862

Celanese

Corp.

..........................

7,692

1,168,953

CF

Industries

Holdings,

Inc.

..................

14,849

1,198,611

Corteva,

Inc.

............................

20,944

1,120,923

Dow,

Inc.

..............................

21,136

1,181,080

DuPont

de

Nemours,

Inc.

...................

16,837

1,164,952

Eastman

Chemical

Co.

.....................

13,652

1,197,827

Ecolab,

Inc.

............................

5,322

1,196,599

FMC

Corp.

.............................

21,919

1,236,012

International

Flavors

&

Fragrances,

Inc.

..........

14,146

1,068,023

Linde

PLC

.............................

2,636

1,183,090

LyondellBasell

Industries

NV

,

Class

A

...........

11,947

1,198,045

Mosaic

Co.

(The)

.........................

37,674

1,173,922

PPG

Industries,

Inc.

.......................

8,057

1,140,871

RPM

International,

Inc.

.....................

10,623

1,225,363

Sherwin-Williams

Co.

(The)

..................

3,716

1,233,824

Westlake

Corp.

..........................

8,057

1,117,586

21,279,551

a

Commercial

Services

&

Supplies

 — 

1

.2

%

Cintas

Corp.

............................

1,863

1,171,100

Copart,

Inc.

(a)

...........................

23,561

1,252,267

Republic

Services,

Inc.

.....................

6,378

1,171,001

Rollins,

Inc.

.............................

27,966

1,232,462

Veralto

Corp.

............................

13,171

1,138,238

Waste

Connections,

Inc.

....................

6,825

1,135,953

Waste

Management,

Inc.

....................

5,700

1,172,205

8,273,226

a

Communications

Equipment

 — 

0

.8

%

Arista

Networks,

Inc.

(a)

.....................

4,402

1,221,731

Cisco

Systems,

Inc.

.......................

23,699

1,146,321

F5,

Inc.

(a)

..............................

6,266

1,173,120

Juniper

Networks,

Inc.

.....................

31,252

1,157,262

Motorola

Solutions,

Inc.

....................

3,585

1,184,448

5,882,882

a

Construction

&

Engineering

 — 

0

.3

%

AECOM

...............................

12,888

1,144,841

Quanta

Services,

Inc.

(b)

.....................

5,462

1,319,128

2,463,969

a

Construction

Materials

 — 

0

.3

%

Martin

Marietta

Materials,

Inc.

................

2,127

1,228,789

Vulcan

Materials

Co.

......................

4,477

1,190,211

2,419,000

a

Consumer

Finance

 — 

0

.8

%

Ally

Financial,

Inc.

........................

32,240

1,192,558

American

Express

Co.

.....................

5,395

1,183,771

Capital

One

Financial

Corp.

..................

8,463

1,164,593

Discover

Financial

Services

..................

10,425

1,258,297

Synchrony

Financial

.......................

29,406

1,214,468

6,013,687

a

Consumer

Staples

Distribution

&

Retail

 — 

1

.5

%

Albertsons

Companies,

Inc.

,

Class

A

............

54,052

1,096,175

Costco

Wholesale

Corp.

....................

1,585

1,179,066

Dollar

General

Corp.

......................

8,119

1,179,772

Dollar

Tree,

Inc.

(a)

.........................

8,017

1,175,934

Kroger

Co.

(The)

.........................

24,370

1,208,996

Security

Shares

Value

a

Consumer

Staples

Distribution

&

Retail

(continued)

Sysco

Corp.

............................

14,537

$

1,177,061

Target

Corp.

............................

7,695

1,176,719

Walgreens

Boots

Alliance,

Inc.

................

52,344

1,112,833

Walmart,

Inc.

............................

20,055

1,175,423

10,481,979

a

Containers

&

Packaging

 — 

1

.2

%

Amcor

PLC

.............................

127,984

1,159,535

Avery

Dennison

Corp.

......................

5,451

1,180,305

Ball

Corp.

..............................

18,461

1,181,873

Crown

Holdings,

Inc.

......................

15,911

1,219,101

International

Paper

Co.

.....................

32,226

1,139,512

Packaging

Corp.

of

America

.................

6,844

1,240,064

Westrock

Co.

...........................

26,406

1,195,928

8,316,318

a

Distributors

 — 

0

.5

%

Genuine

Parts

Co.

........................

8,046

1,200,946

LKQ

Corp.

.............................

23,038

1,204,657

Pool

Corp.

.............................

2,968

1,181,620

3,587,223

a

Diversified

REITs

 — 

0

.2

%

WP

Carey,

Inc.

..........................

13,064

1,129,811

a

Diversified

Telecommunication

Services

 — 

0

.5

%

AT&T,

Inc.

..............................

68,584

1,161,127

Liberty

Global,

Ltd.

,

Class

C

(a)

(b)

...............

60,906

1,129,807

Verizon

Communications,

Inc.

................

28,406

1,136,808

3,427,742

a

Electric

Utilities

 — 

2

.6

%

Alliant

Energy

Corp.

.......................

23,250

1,110,188

American

Electric

Power

Co.,

Inc.

..............

14,013

1,193,768

Constellation

Energy

Corp.

..................

8,809

1,483,876

Duke

Energy

Corp.

.......................

12,525

1,150,171

Edison

International

.......................

17,496

1,190,078

Entergy

Corp.

...........................

11,553

1,173,438

Evergy,

Inc.

.............................

23,117

1,145,216

Eversource

Energy

.......................

19,352

1,135,962

Exelon

Corp.

............................

32,961

1,181,322

FirstEnergy

Corp.

........................

30,957

1,133,336

NextEra

Energy,

Inc.

......................

20,038

1,105,897

NRG

Energy,

Inc.

.........................

22,272

1,232,087

PG&E

Corp.

............................

70,365

1,174,392

PPL

Corp.

.............................

43,801

1,155,032

Southern

Co.

(The)

.......................

17,304

1,163,694

Xcel

Energy,

Inc.

.........................

19,394

1,021,870

18,750,327

a

Electrical

Equipment

 — 

1

.0

%

AMETEK,

Inc.

...........................

6,510

1,172,972

Eaton

Corp.

PLC

.........................

4,142

1,197,038

Emerson

Electric

Co.

......................

10,791

1,153,018

Hubbell,

Inc.

............................

3,204

1,219,667

Rockwell

Automation,

Inc.

...................

4,096

1,167,688

Vertiv

Holdings

Co.

,

Class

A

.................

18,325

1,239,136

7,149,519

a

Electronic

Equipment,

Instruments

&

Components

 — 

1

.5

%

Amphenol

Corp.

,

Class

A

...................

10,911

1,191,918

CDW

Corp.

.............................

4,762

1,172,452

Corning,

Inc.

............................

36,046

1,162,123

Jabil,

Inc.

..............................

8,335

1,200,990

Keysight

Technologies,

Inc.

(a)

.................

7,395

1,141,048

TE

Connectivity

Ltd.

.......................

8,036

1,153,648

Schedule

of

Investments

(unaudited)

(continued)

February

29,

2024

iShares

®

MSCI

USA

Equal

Weighted

ETF

(Percentages

shown

are

based

on

Net

Assets)

8

2024

iShares

Semi-Annual

Report

to

Shareholders

Security

Shares

Value

a

Electronic

Equipment,

Instruments

&

Components

(continued)

Teledyne

Technologies,

Inc.

(a)

.................

2,667

$

1,139,529

Trimble,

Inc.

(a)

...........................

19,037

1,164,874

Zebra

Technologies

Corp.

,

Class

A

(a)

............

4,160

1,162,637

10,489,219

a

Energy

Equipment

&

Services

 — 

0

.5

%

Baker

Hughes

Co.

,

Class

A

..................

39,783

1,177,179

Halliburton

Co.

..........................

32,806

1,150,506

Schlumberger

Ltd.

........................

23,908

1,155,474

3,483,159

a

Entertainment

 — 

1

.4

%

Electronic

Arts,

Inc.

.......................

8,074

1,126,162

Liberty

Media

Corp.-Liberty

Formula

One

,

Series

C

,

NVS

(a)

...............................

16,552

1,204,324

Live

Nation

Entertainment,

Inc.

(a)

..............

12,327

1,195,472

Netflix,

Inc.

(a)

............................

1,969

1,187,149

ROBLOX

Corp.

,

Class

A

(a)

...................

26,803

1,069,440

Roku,

Inc.

,

Class

A

(a)

......................

15,976

1,009,364

Take-Two

Interactive

Software,

Inc.

(a)

(b)

..........

7,522

1,105,207

Walt

Disney

Co.

(The)

.....................

10,268

1,145,703

Warner

Bros

Discovery,

Inc.

,

Series

A

(a)

..........

116,958

1,028,061

10,070,882

a

Financial

Services

 — 

2

.2

%

Apollo

Global

Management,

Inc.

...............

10,783

1,205,539

Berkshire

Hathaway,

Inc.

,

Class

B

(a)

............

2,990

1,224,106

Block,

Inc.

,

Class

A

(a)

......................

18,348

1,458,116

Equitable

Holdings,

Inc.

....................

33,170

1,135,741

Fidelity

National

Information

Services,

Inc.

........

18,064

1,249,848

Fiserv,

Inc.

(a)

............................

8,195

1,223,268

FleetCor

Technologies,

Inc.

(a)

.................

4,465

1,246,940

Global

Payments,

Inc.

.....................

9,052

1,174,044

Jack

Henry

&

Associates,

Inc.

................

7,034

1,222,298

Mastercard,

Inc.

,

Class

A

....................

2,431

1,154,142

PayPal

Holdings,

Inc.

(a)

.....................

20,514

1,237,815

Toast,

Inc.

,

Class

A

(a)

......................

54,198

1,246,554

Visa,

Inc.

,

Class

A

........................

4,355

1,230,897

16,009,308

a

Food

Products

 — 

2

.5

%

Archer-Daniels-Midland

Co.

..................

21,418

1,137,510

Bunge

Global

SA

.........................

12,592

1,188,307

Campbell

Soup

Co.

.......................

27,764

1,183,857

Conagra

Brands,

Inc.

......................

42,588

1,195,871

Darling

Ingredients,

Inc.

(a)

...................

26,882

1,137,377

General

Mills,

Inc.

........................

17,834

1,144,586

Hershey

Co.

(The)

........................

5,916

1,111,735

Hormel

Foods

Corp.

.......................

39,534

1,396,341

J

M

Smucker

Co.

(The)

.....................

9,311

1,118,903

Kellanova

..............................

20,650

1,138,847

Kraft

Heinz

Co.

(The)

......................

33,331

1,175,918

Lamb

Weston

Holdings,

Inc.

.................

11,387

1,163,865

McCormick

&

Co.,

Inc.

,

NVS

.................

17,339

1,193,964

Mondelez

International,

Inc.

,

Class

A

............

16,066

1,173,943

Tyson

Foods,

Inc.

,

Class

A

..................

21,646

1,174,079

17,635,103

a

Gas

Utilities

 — 

0

.2

%

Atmos

Energy

Corp.

.......................

10,001

1,129,213

a

Ground

Transportation

 — 

1

.3

%

CSX

Corp.

.............................

31,263

1,186,118

JB

Hunt

Transport

Services,

Inc.

..............

5,426

1,119,438

Knight-Swift

Transportation

Holdings,

Inc.

,

Class

A

..

20,338

1,145,843

Norfolk

Southern

Corp.

.....................

4,550

1,152,879

Security

Shares

Value

a

Ground

Transportation

(continued)

Old

Dominion

Freight

Line,

Inc.

...............

2,700

$

1,194,696

Uber

Technologies,

Inc.

(a)

...................

14,728

1,170,876

U-Haul

Holding

Co.

,

Series

N

,

NVS

.............

17,703

1,125,380

Union

Pacific

Corp.

.......................

4,699

1,192,089

9,287,319

a

Health

Care

Equipment

&

Supplies

 — 

3

.0

%

Abbott

Laboratories

.......................

10,106

1,198,976

Align

Technology,

Inc.

(a)

.....................

3,721

1,125,305

Baxter

International,

Inc.

....................

27,900

1,141,668

Becton

Dickinson

&

Co.

....................

4,782

1,126,400

Boston

Scientific

Corp.

(a)

....................

17,586

1,164,369

Cooper

Cos.,

Inc.

The

......................

12,371

1,157,925

Dexcom,

Inc.

(a)

..........................

9,832

1,131,368

Edwards

Lifesciences

Corp.

(a)

................

13,310

1,129,620

GE

HealthCare

Technologies,

Inc.

.............

13,385

1,221,783

Hologic,

Inc.

(a)

...........................

15,538

1,146,704

IDEXX

Laboratories,

Inc.

(a)

...................

2,064

1,187,275

Insulet

Corp.

(a)

...........................

6,010

985,640

Intuitive

Surgical,

Inc.

(a)

.....................

3,042

1,172,995

Medtronic

PLC

..........................

13,690

1,141,198

ResMed,

Inc.

...........................

6,358

1,104,512

STERIS

PLC

............................

4,988

1,161,755

Stryker

Corp.

...........................

3,298

1,151,233

Teleflex,

Inc.

............................

4,601

1,025,057

Zimmer

Biomet

Holdings,

Inc.

................

9,235

1,148,465

21,622,248

a

Health

Care

Providers

&

Services

 — 

2

.6

%

Cardinal

Health,

Inc.

.......................

11,072

1,239,843

Cencora,

Inc.

...........................

5,038

1,186,953

Centene

Corp.

(a)

.........................

14,773

1,158,646

Cigna

Group

(The)

........................

3,387

1,138,506

CVS

Health

Corp.

........................

14,943

1,111,311

DaVita,

Inc.

(a)

............................

9,426

1,196,819

Elevance

Health,

Inc.

......................

2,255

1,130,319

HCA

Healthcare,

Inc.

......................

3,722

1,160,147

Henry

Schein,

Inc.

(a)

(b)

......................

15,135

1,157,373

Humana,

Inc.

...........................

3,136

1,098,604

Laboratory

Corp.

of

America

Holdings

...........

5,273

1,138,072

McKesson

Corp.

.........................

2,267

1,182,036

Molina

Healthcare,

Inc.

(a)

....................

2,883

1,135,643

Quest

Diagnostics,

Inc.

.....................

9,230

1,152,735

UnitedHealth

Group,

Inc.

....................

2,204

1,087,894

Universal

Health

Services,

Inc.

,

Class

B

.........

7,098

1,185,792

18,460,693

a

Health

Care

REITs

 — 

0

.5

%

Healthpeak

Properties,

Inc.

..................

66,913

1,120,793

Ventas,

Inc.

............................

26,332

1,113,580

Welltower,

Inc.

...........................

12,353

1,138,452

3,372,825

a

Health

Care

Technology

 — 

0

.2

%

Veeva

Systems,

Inc.

,

Class

A

(a)

...............

5,239

1,181,447

a

Hotel

&

Resort

REITs

 — 

0

.2

%

Host

Hotels

&

Resorts,

Inc.

..................

58,547

1,214,265

a

Hotels,

Restaurants

&

Leisure

 — 

3

.5

%

Airbnb,

Inc.

,

Class

A

(a)

......................

7,527

1,185,277

Booking

Holdings,

Inc.

(a)

....................

310

1,075,337

Caesars

Entertainment,

Inc.

(a)

................

27,077

1,177,037

Carnival

Corp.

(a)

..........................

77,849

1,234,685

Chipotle

Mexican

Grill,

Inc.

(a)

.................

441

1,185,748

Darden

Restaurants,

Inc.

...................

7,175

1,224,844

iShares

®

MSCI

USA

Equal

Weighted

ETF

Schedule

of

Investments

(unaudited)

(continued)

February

29,

2024

(Percentages

shown

are

based

on

Net

Assets)

9

Schedule

of

Investments

Security

Shares

Value

a

Hotels,

Restaurants

&

Leisure

(continued)

Domino's

Pizza,

Inc.

.......................

2,725

$

1,221,754

DoorDash,

Inc.

,

Class

A

(a)

...................

9,934

1,237,478

DraftKings,

Inc.

,

Class

A

(a)

...................

25,869

1,120,645

Expedia

Group,

Inc.

(a)

......................

8,517

1,165,296

Hilton

Worldwide

Holdings,

Inc.

...............

5,837

1,192,616

Hyatt

Hotels

Corp.

,

Class

A

..................

8,670

1,331,625

Las

Vegas

Sands

Corp.

....................

20,715

1,129,382

Marriott

International,

Inc.

,

Class

A

.............

4,798

1,198,876

McDonald's

Corp.

........................

3,929

1,148,368

MGM

Resorts

International

(a)

.................

27,039

1,170,248

Royal

Caribbean

Cruises

Ltd.

(a)

...............

9,962

1,228,813

Starbucks

Corp.

..........................

12,261

1,163,569

Vail

Resorts,

Inc.

.........................

5,096

1,173,660

Wynn

Resorts

Ltd.

........................

10,913

1,148,048

Yum!

Brands,

Inc.

........................

8,410

1,164,112

24,877,418

a

Household

Durables

 — 

0

.9

%

DR

Horton,

Inc.

..........................

8,177

1,221,971

Garmin

Ltd.

.............................

9,462

1,299,606

Lennar

Corp.

,

Class

A

......................

7,638

1,210,699

NVR,

Inc.

(a)

.............................

153

1,166,712

PulteGroup,

Inc.

.........................

11,596

1,256,775

6,155,763

a

Household

Products

 — 

0

.8

%

Church

&

Dwight

Co.,

Inc.

...................

11,684

1,169,802

Clorox

Co.

(The)

.........................

7,616

1,167,609

Colgate-Palmolive

Co.

.....................

13,696

1,184,978

Kimberly-Clark

Corp.

......................

9,673

1,172,077

Procter

&

Gamble

Co.

(The)

.................

7,209

1,145,799

5,840,265

a

Independent

Power

and

Renewable

Electricity

Producers

 — 

0

.3

%

AES

Corp.

(The)

.........................

68,515

1,041,428

Vistra

Corp.

............................

25,490

1,390,225

2,431,653

a

Industrial

Conglomerates

 — 

0

.5

%

3M

Co.

................................

12,618

1,162,370

General

Electric

Co.

.......................

7,784

1,221,232

Honeywell

International,

Inc.

.................

5,804

1,153,429

3,537,031

a

Industrial

REITs

 — 

0

.2

%

Prologis,

Inc.

............................

8,604

1,146,655

a

Insurance

 — 

4

.4

%

Aflac,

Inc.

..............................

15,832

1,278,276

Allstate

Corp.

(The)

.......................

7,176

1,144,715

American

Financial

Group,

Inc.

...............

9,481

1,210,439

American

International

Group,

Inc.

.............

16,428

1,197,437

Aon

PLC

,

Class

A

........................

3,688

1,165,371

Arch

Capital

Group

Ltd.

(a)

...................

13,501

1,182,553

Arthur

J

Gallagher

&

Co.

....................

4,863

1,186,232

Assurant,

Inc.

...........................

6,623

1,201,743

Brown

&

Brown,

Inc.

.......................

14,051

1,183,235

Chubb

Ltd.

.............................

4,708

1,184,862

Cincinnati

Financial

Corp.

...................

10,424

1,188,336

Erie

Indemnity

Co.

,

Class

A

,

NVS

..............

3,204

1,303,643

Everest

Group

Ltd.

........................

3,156

1,164,185

Fidelity

National

Financial,

Inc.

................

10,419

1,041,543

Globe

Life,

Inc.

..........................

10,002

1,269,554

Hartford

Financial

Services

Group,

Inc.

(The)

......

13,484

1,292,307

Loews

Corp.

............................

16,379

1,230,554

Markel

Group,

Inc.

(a)

.......................

793

1,183,537

Security

Shares

Value

a

Insurance

(continued)

Marsh

&

McLennan

Companies,

Inc.

............

5,807

$

1,174,582

MetLife,

Inc.

............................

18,282

1,274,987

Principal

Financial

Group,

Inc.

................

14,465

1,169,640

Progressive

Corp.

(The)

....................

6,125

1,161,055

Prudential

Financial,

Inc.

....................

11,013

1,200,307

Travelers

Companies,

Inc.

(The)

...............

5,430

1,199,813

W

R

Berkley

Corp.

........................

14,127

1,181,017

Willis

Towers

Watson

PLC

...................

4,166

1,135,693

31,105,616

a

Interactive

Media

&

Services

 — 

0

.8

%

Alphabet,

Inc.

,

Class

A

(a)

....................

4,035

558,686

Alphabet,

Inc.

,

Class

C

,

NVS

(a)

................

4,083

570,722

Match

Group,

Inc.

(a)

.......................

30,543

1,100,770

Meta

Platforms,

Inc.

,

Class

A

.................

2,440

1,195,917

Pinterest,

Inc.

,

Class

A

(a)

....................

32,642

1,197,961

Snap,

Inc.

,

Class

A

,

NVS

(a)

..................

103,121

1,136,394

5,760,450

a

IT

Services

 — 

2

.1

%

Accenture

PLC

,

Class

A

....................

3,112

1,166,315

Akamai

Technologies,

Inc.

(a)

..................

10,570

1,172,424

Cloudflare,

Inc.

,

Class

A

(a)

...................

11,687

1,151,637

Cognizant

Technology

Solutions

Corp.

,

Class

A

.....

14,871

1,175,107

EPAM

Systems,

Inc.

(a)

......................

3,681

1,120,496

Gartner,

Inc.

(a)

...........................

2,574

1,198,352

GoDaddy,

Inc.

,

Class

A

(a)

....................

10,520

1,200,858

International

Business

Machines

Corp.

..........

6,196

1,146,446

MongoDB,

Inc.

,

Class

A

(a)

...................

2,480

1,109,998

Okta,

Inc.

,

Class

A

(a)

.......................

12,945

1,388,999

Snowflake,

Inc.

,

Class

A

(a)

...................

4,993

940,082

Twilio,

Inc.

,

Class

A

(a)

......................

19,629

1,169,692

VeriSign,

Inc.

(a)

..........................

5,863

1,144,985

15,085,391

a

Leisure

Products

 — 

0

.2

%

Hasbro,

Inc.

............................

22,662

1,139,672

a

Life

Sciences

Tools

&

Services

 — 

2

.3

%

Agilent

Technologies,

Inc.

...................

8,505

1,168,247

Avantor,

Inc.

(a)

...........................

48,465

1,194,177

Bio-Rad

Laboratories,

Inc.

,

Class

A

(a)

............

3,363

1,095,934

Bio-Techne

Corp.

.........................

16,018

1,178,444

Charles

River

Laboratories

International,

Inc.

(a)

.....

4,688

1,191,643

Danaher

Corp.

..........................

4,588

1,161,406

Illumina,

Inc.

(a)

...........................

8,005

1,119,339

IQVIA

Holdings,

Inc.

(a)

......................

4,819

1,191,064

Mettler-Toledo

International,

Inc.

(a)

.............

962

1,199,826

Repligen

Corp.

(a)

.........................

5,519

1,070,631

Revvity,

Inc.

(b)

...........................

11,207

1,228,175

Thermo

Fisher

Scientific,

Inc.

.................

2,093

1,193,387

Waters

Corp.

(a)

..........................

3,530

1,191,093

West

Pharmaceutical

Services,

Inc.

............

3,173

1,137,076

16,320,442

a

Machinery

 — 

3

.3

%

Caterpillar,

Inc.

..........................

3,579

1,195,243

CNH

Industrial

N.V.

.......................

95,176

1,137,353

Cummins,

Inc.

...........................

4,304

1,156,097

Deere

&

Co.

............................

3,189

1,164,145

Dover

Corp.

............................

7,107

1,175,356

Fortive

Corp.

............................

13,591

1,157,002

Graco,

Inc.

.............................

12,987

1,185,194

IDEX

Corp.

.............................

5,017

1,183,510

Illinois

Tool

Works,

Inc.

.....................

4,496

1,178,626

Ingersoll

Rand,

Inc.

.......................

12,904

1,178,522

Schedule

of

Investments

(unaudited)

(continued)

February

29,

2024

iShares

®

MSCI

USA

Equal

Weighted

ETF

(Percentages

shown

are

based

on

Net

Assets)

10

2024

iShares

Semi-Annual

Report

to

Shareholders

Security

Shares

Value

a

Machinery

(continued)

Nordson

Corp.

...........................

4,459

$

1,184,533

Otis

Worldwide

Corp.

......................

12,242

1,166,663

PACCAR,

Inc.

...........................

10,942

1,213,358

Parker-Hannifin

Corp.

......................

2,231

1,194,589

Pentair

PLC

............................

15,436

1,200,766

Snap-on,

Inc.

...........................

4,320

1,190,851

Stanley

Black

&

Decker,

Inc.

.................

13,037

1,164,074

Toro

Co.

(The)

...........................

12,208

1,126,921

Westinghouse

Air

Brake

Technologies

Corp.

.......

8,623

1,218,344

Xylem,

Inc.

.............................

9,249

1,175,085

23,546,232

a

Media

 — 

1

.7

%

Charter

Communications,

Inc.

,

Class

A

(a)

(b)

........

3,924

1,153,381

Comcast

Corp.

,

Class

A

....................

27,970

1,198,515

Fox

Corp.

,

Class

A

,

NVS

....................

25,783

768,076

Fox

Corp.

,

Class

B

........................

12,964

354,954

Interpublic

Group

of

Companies,

Inc.

(The)

.......

35,516

1,115,202

Liberty

Broadband

Corp.

,

Class

C

,

NVS

(a)

........

19,021

1,144,684

Liberty

Media

Corp.-Liberty

SiriusXM

,

Series

C

,

NVS

(a)

38,289

1,109,615

News

Corp.

,

Class

A

,

NVS

..................

44,064

1,184,440

Omnicom

Group,

Inc.

......................

13,183

1,165,245

Paramount

Global

,

Class

B

,

NVS

..............

96,136

1,061,342

Sirius

XM

Holdings,

Inc.

(b)

...................

240,030

1,060,933

Trade

Desk,

Inc.

(The)

,

Class

A

(a)

..............

12,919

1,103,670

12,420,057

a

Metals

&

Mining

 — 

1

.0

%

Cleveland-Cliffs,

Inc.

(a)

.....................

57,899

1,204,299

Freeport-McMoRan,

Inc.

....................

29,489

1,114,979

Newmont

Corp.

..........................

34,344

1,073,250

Nucor

Corp.

............................

6,213

1,194,760

Reliance,

Inc.

...........................

3,526

1,132,622

Steel

Dynamics,

Inc.

.......................

9,336

1,249,343

6,969,253

a

Mortgage

REITs

 — 

0

.2

%

Annaly

Capital

Management,

Inc.

..............

62,522

1,193,545

a

Multi-Utilities

 — 

1

.6

%

Ameren

Corp.

...........................

16,348

1,163,814

CenterPoint

Energy,

Inc.

....................

41,794

1,149,335

CMS

Energy

Corp.

........................

19,887

1,140,917

Consolidated

Edison,

Inc.

...................

13,247

1,155,271

Dominion

Energy,

Inc.

......................

25,092

1,200,150

DTE

Energy

Co.

.........................

10,588

1,147,210

NiSource,

Inc.

...........................

45,188

1,177,599

Public

Service

Enterprise

Group,

Inc.

...........

19,134

1,193,962

Sempra

...............................

16,301

1,150,851

WEC

Energy

Group,

Inc.

....................

14,561

1,142,893

11,622,002

a

Office

REITs

 — 

0

.3

%

Alexandria

Real

Estate

Equities,

Inc.

............

9,647

1,203,270

Boston

Properties,

Inc.

.....................

17,159

1,110,531

2,313,801

a

Oil,

Gas

&

Consumable

Fuels

 — 

4

.1

%

APA

Corp.

.............................

36,368

1,083,403

Cheniere

Energy,

Inc.

......................

7,147

1,109,214

Chesapeake

Energy

Corp.

..................

14,694

1,216,369

Chevron

Corp.

...........................

7,363

1,119,250

ConocoPhillips

..........................

10,364

1,166,365

Coterra

Energy,

Inc.

.......................

46,923

1,209,675

Devon

Energy

Corp.

.......................

26,468

1,166,180

Diamondback

Energy,

Inc.

...................

6,467

1,180,357

Security

Shares

Value

a

Oil,

Gas

&

Consumable

Fuels

(continued)

EOG

Resources,

Inc.

......................

9,978

$

1,142,082

EQT

Corp.

.............................

33,249

1,235,200

Exxon

Mobil

Corp.

........................

10,995

1,149,197

Hess

Corp.

.............................

7,685

1,120,089

HF

Sinclair

Corp.

.........................

19,008

1,054,944

Kinder

Morgan,

Inc.

,

Class

P

.................

67,704

1,177,373

Marathon

Oil

Corp.

........................

49,306

1,195,670

Marathon

Petroleum

Corp.

..................

6,973

1,180,041

Occidental

Petroleum

Corp.

..................

18,929

1,147,287

ONEOK,

Inc.

............................

15,984

1,200,718

Ovintiv,

Inc.

.............................

25,708

1,270,232

Phillips

66

..............................

8,049

1,147,063

Pioneer

Natural

Resources

Co.

...............

4,980

1,171,246

Targa

Resources

Corp.

.....................

11,903

1,169,351

Texas

Pacific

Land

Corp.

....................

756

1,191,017

Valero

Energy

Corp.

.......................

8,269

1,169,733

Williams

Companies,

Inc.

(The)

...............

33,820

1,215,491

29,187,547

a

Passenger

Airlines

 — 

0

.3

%

Delta

Air

Lines,

Inc.

.......................

28,891

1,221,223

Southwest

Airlines

Co.

.....................

34,057

1,167,133

2,388,356

a

Personal

Care

Products

 — 

0

.3

%

Estee

Lauder

Companies,

Inc.

(The)

,

Class

A

......

7,819

1,161,747

Kenvue,

Inc.

............................

60,247

1,144,693

2,306,440

a

Pharmaceuticals

 — 

1

.6

%

Bristol-Myers

Squibb

Co.

....................

23,119

1,173,289

Catalent,

Inc.

(a)

..........................

19,775

1,133,898

Eli

Lilly

&

Co.

...........................

1,481

1,116,200

Jazz

Pharmaceuticals

PLC

(a)

.................

9,023

1,072,835

Johnson

&

Johnson

.......................

7,224

1,165,809

Merck

&

Co.,

Inc.

.........................

9,045

1,150,072

Pfizer,

Inc.

.............................

41,650

1,106,224

Royalty

Pharma

PLC

,

Class

A

................

38,561

1,169,941

Viatris,

Inc.

.............................

89,276

1,104,344

Zoetis,

Inc.

,

Class

A

.......................

6,088

1,207,433

11,400,045

a

Professional

Services

 — 

2

.3

%

Automatic

Data

Processing,

Inc.

...............

4,531

1,137,870

Booz

Allen

Hamilton

Holding

Corp.

,

Class

A

.......

7,936

1,172,227

Broadridge

Financial

Solutions,

Inc.

............

5,845

1,189,925

Dayforce,

Inc.

(a)

(b)

.........................

15,649

1,091,674

Equifax,

Inc.

............................

4,452

1,218,023

Jacobs

Solutions,

Inc.

......................

7,788

1,142,110

Leidos

Holdings,

Inc.

......................

9,321

1,191,783

Paychex,

Inc.

...........................

9,269

1,136,565

Paycom

Software,

Inc.

.....................

6,009

1,095,981

Paylocity

Holding

Corp.

(a)

(b)

..................

6,460

1,089,221

Robert

Half,

Inc.

.........................

14,190

1,140,876

SS&C

Technologies

Holdings,

Inc.

.............

18,206

1,160,814

TransUnion

.............................

15,322

1,189,447

Verisk

Analytics,

Inc.

.......................

4,694

1,135,479

16,091,995

a

Real

Estate

Management

&

Development

 — 

0

.5

%

CBRE

Group,

Inc.

,

Class

A

(a)

.................

12,302

1,130,431

CoStar

Group,

Inc.

(a)

.......................

14,108

1,227,819

Zillow

Group,

Inc.

,

Class

C

,

NVS

(a)

.............

20,984

1,178,252

3,536,502

a

iShares

®

MSCI

USA

Equal

Weighted

ETF

Schedule

of

Investments

(unaudited)

(continued)

February

29,

2024

(Percentages

shown

are

based

on

Net

Assets)

11

Schedule

of

Investments

Security

Shares

Value

a

Residential

REITs

 — 

1

.6

%

American

Homes

4

Rent

,

Class

A

..............

33,284

$

1,231,841

AvalonBay

Communities,

Inc.

................

6,467

1,144,853

Camden

Property

Trust

.....................

11,998

1,133,571

Equity

LifeStyle

Properties,

Inc.

...............

17,262

1,162,078

Equity

Residential

........................

19,078

1,148,686

Essex

Property

Trust,

Inc.

...................

4,906

1,135,248

Invitation

Homes,

Inc.

......................

35,256

1,201,172

Mid-America

Apartment

Communities,

Inc.

........

8,851

1,112,394

Sun

Communities,

Inc.

.....................

8,806

1,177,891

UDR,

Inc.

..............................

31,805

1,129,077

11,576,811

a

Retail

REITs

 — 

0

.7

%

Kimco

Realty

Corp.

.......................

58,958

1,165,010

Realty

Income

Corp.

.......................

21,931

1,142,824

Regency

Centers

Corp.

....................

19,098

1,183,121

Simon

Property

Group,

Inc.

..................

7,770

1,151,048

4,642,003

a

Semiconductors

&

Semiconductor

Equipment

 — 

3

.8

%

Advanced

Micro

Devices,

Inc.

(a)

...............

6,630

1,276,474

Analog

Devices,

Inc.

.......................

6,062

1,162,813

Applied

Materials,

Inc.

.....................

5,754

1,160,121

Broadcom,

Inc.

..........................

931

1,210,756

Enphase

Energy,

Inc.

(a)

.....................

8,707

1,105,876

Entegris,

Inc.

............................

8,411

1,130,102

First

Solar,

Inc.

(a)

.........................

7,317

1,126,013

Intel

Corp.

.............................

26,481

1,140,007

KLA

Corp.

..............................

1,745

1,190,613

Lam

Research

Corp.

......................

1,244

1,167,183

Lattice

Semiconductor

Corp.

(a)

................

15,660

1,199,713

Marvell

Technology,

Inc.

....................

17,377

1,245,236

Microchip

Technology,

Inc.

...................

14,035

1,180,905

Micron

Technology,

Inc.

.....................

14,491

1,313,030

Monolithic

Power

Systems,

Inc.

...............

1,571

1,131,183

NVIDIA

Corp.

...........................

1,588

1,256,299

NXP

Semiconductors

NV

...................

4,954

1,237,162

ON

Semiconductor

Corp.

(a)

..................

14,596

1,151,916

Qorvo,

Inc.

(a)

............................

10,199

1,168,295

QUALCOMM,

Inc.

........................

7,519

1,186,423

Skyworks

Solutions,

Inc.

....................

11,018

1,156,009

Teradyne,

Inc.

...........................

11,216

1,161,865

Texas

Instruments,

Inc.

.....................

7,075

1,183,860

27,241,854

a

Software

 — 

6

.2

%

Adobe,

Inc.

(a)

............................

2,104

1,178,829

ANSYS,

Inc.

(a)

...........................

3,484

1,164,248

AppLovin

Corp.

,

Class

A

(a)

...................

19,232

1,148,535

Aspen

Technology,

Inc.

(a)

....................

6,304

1,222,283

Atlassian

Corp.

,

Class

A

(a)

...................

5,542

1,149,522

Autodesk,

Inc.

(a)

..........................

4,434

1,144,726

Bentley

Systems,

Inc.

,

Class

B

................

21,779

1,118,787

BILL

Holdings,

Inc.

(a)

.......................

18,115

1,147,223

Cadence

Design

Systems,

Inc.

(a)

..............

3,973

1,209,302

Confluent,

Inc.

,

Class

A

(a)

(b)

..................

33,869

1,147,143

Crowdstrike

Holdings,

Inc.

,

Class

A

(a)

............

3,518

1,140,360

Datadog,

Inc.

,

Class

A

(a)

....................

8,883

1,167,759

DocuSign,

Inc.

(a)

.........................

22,904

1,220,096

Dropbox,

Inc.

,

Class

A

(a)

....................

45,984

1,101,317

Dynatrace,

Inc.

(a)

.........................

22,554

1,117,551

Fair

Isaac

Corp.

(a)

.........................

905

1,149,268

Fortinet,

Inc.

(a)

...........................

16,764

1,158,560

Gen

Digital,

Inc.

..........................

54,133

1,163,318

HubSpot,

Inc.

(a)

..........................

1,886

1,167,076

Security

Shares

Value

a

Software

(continued)

Intuit,

Inc.

..............................

1,764

$

1,169,338

Manhattan

Associates,

Inc.

(a)

.................

4,716

1,194,704

Microsoft

Corp.

..........................

2,844

1,176,392

Oracle

Corp.

............................

10,392

1,160,578

Palantir

Technologies,

Inc.

,

Class

A

(a)

...........

47,093

1,181,092

Palo

Alto

Networks,

Inc.

(a)

...................

3,147

977,301

PTC,

Inc.

(a)

.............................

6,485

1,186,820

Roper

Technologies,

Inc.

....................

2,114

1,151,559

Salesforce,

Inc.

(a)

.........................

3,984

1,230,339

Samsara,

Inc.

,

Class

A

(a)

....................

33,449

1,155,663

ServiceNow,

Inc.

(a)

........................

1,509

1,163,952

Splunk,

Inc.

(a)

...........................

7,416

1,158,527

Synopsys,

Inc.

(a)

.........................

2,081

1,193,932

Tyler

Technologies,

Inc.

(a)

...................

2,608

1,140,061

UiPath,

Inc.

,

Class

A

(a)

.....................

46,173

1,096,609

Unity

Software,

Inc.

(a)

(b)

.....................

33,882

993,420

Workday,

Inc.

,

Class

A

(a)

....................

3,810

1,122,655

Zoom

Video

Communications,

Inc.

,

Class

A

(a)

......

18,401

1,301,503

Zscaler,

Inc.

(a)

...........................

4,569

1,105,561

43,875,909

a

Specialized

REITs

 — 

1

.8

%

American

Tower

Corp.

.....................

6,132

1,219,410

Crown

Castle,

Inc.

........................

10,594

1,164,704

Digital

Realty

Trust,

Inc.

....................

8,458

1,241,719

Equinix,

Inc.

............................

1,339

1,190,130

Extra

Space

Storage,

Inc.

...................

8,120

1,144,676

Gaming

and

Leisure

Properties,

Inc.

............

25,551

1,162,060

Iron

Mountain,

Inc.

........................

17,130

1,347,103

Public

Storage

...........................

4,075

1,156,770

SBA

Communications

Corp.

,

Class

A

............

5,527

1,156,414

VICI

Properties,

Inc.

.......................

39,490

1,181,936

Weyerhaeuser

Co.

........................

35,033

1,204,435

13,169,357

a

Specialty

Retail

 — 

2

.4

%

AutoZone,

Inc.

(a)

.........................

421

1,265,535

Bath

&

Body

Works,

Inc.

....................

25,394

1,160,506

Best

Buy

Co.,

Inc.

........................

15,681

1,268,279

Burlington

Stores,

Inc.

(a)

....................

5,889

1,207,834

CarMax,

Inc.

(a)

(b)

..........................

16,056

1,268,424

Dick's

Sporting

Goods,

Inc.

..................

6,829

1,214,811

Home

Depot,

Inc.

(The)

....................

3,187

1,213,004

Lowe's

Companies,

Inc.

....................

5,076

1,221,641

O'Reilly

Automotive,

Inc.

(a)

...................

1,095

1,190,725

Ross

Stores,

Inc.

.........................

8,018

1,194,361

TJX

Companies,

Inc.

(The)

..................

11,729

1,162,813

Tractor

Supply

Co.

........................

4,860

1,235,995

Ulta

Beauty,

Inc.

(a)

........................

2,154

1,181,598

Williams-Sonoma,

Inc.

.....................

5,108

1,203,087

16,988,613

a

Technology

Hardware,

Storage

&

Peripherals

 — 

1

.4

%

Apple,

Inc.

.............................

6,171

1,115,408

Dell

Technologies,

Inc.

,

Class

C

...............

13,735

1,300,155

Hewlett

Packard

Enterprise

Co.

...............

77,814

1,185,107

HP,

Inc.

...............................

40,581

1,149,660

NetApp,

Inc.

............................

13,467

1,200,179

Seagate

Technology

Holdings

PLC

.............

13,202

1,228,446

Super

Micro

Computer,

Inc.

(a)

.................

1,433

1,241,150

Western

Digital

Corp.

(a)

.....................

21,312

1,267,425

9,687,530

a

Schedule

of

Investments

(unaudited)

(continued)

February

29,

2024

iShares

®

MSCI

USA

Equal

Weighted

ETF

(Percentages

shown

are

based

on

Net

Assets)

12

2024

iShares

Semi-Annual

Report

to

Shareholders

Derivative

Financial

Instruments

Outstanding

as

of

Period

End

Security

Shares

Value

a

Textiles,

Apparel

&

Luxury

Goods

 — 

0

.5

%

Deckers

Outdoor

Corp.

(a)

....................

1,339

$

1,199,195

Lululemon

Athletica,

Inc.

(a)

...................

2,558

1,194,816

Nike,

Inc.

,

Class

B

........................

11,049

1,148,323

3,542,334

a

Tobacco

 — 

0

.3

%

Altria

Group,

Inc.

.........................

28,938

1,183,853

Philip

Morris

International,

Inc.

................

12,981

1,167,771

2,351,624

a

Trading

Companies

&

Distributors

 — 

0

.8

%

Fastenal

Co.

............................

16,268

1,187,727

Ferguson

PLC

...........................

5,794

1,225,141

United

Rentals,

Inc.

.......................

1,773

1,229,168

Watsco,

Inc.

............................

3,010

1,186,301

WW

Grainger,

Inc.

........................

1,226

1,193,462

6,021,799

a

Water

Utilities

 — 

0

.3

%

American

Water

Works

Co.,

Inc.

...............

9,246

1,096,021

Essential

Utilities,

Inc.

......................

31,615

1,099,570

2,195,591

a

Security

Shares

Value

a

Wireless

Telecommunication

Services

 — 

0

.2

%

T-Mobile

U.S.,

Inc.

........................

7,145

$

1,166,778

a

Total

Long-Term

Investments — 99.8%

(Cost:

$

625,359,026

)

................................

711,696,266

a

Short-Term

Securities

Money

Market

Funds

 — 

2

.1

%

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

,

5.50

%

(c)

(d)

(e)

......................

14,102,930

14,109,981

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

,

5.30

%

(c)

(d)

............................

898,386

898,386

a

Total

Short-Term

Securities — 2.1%

(Cost:

$

14,997,421

)

.................................

15,008,367

Total

Investments

—

101.9%

(Cost:

$

640,356,447

)

................................

726,704,633

Liabilities

in

Excess

of

Other

Assets

—

(

1

.9

)

%

...............

(

13,542,201

)

Net

Assets

—

100.0%

.................................

$

713,162,432

(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.

Affiliates

Investments

in

issuers

considered

to

be

affiliate(s)

of

the

Fund

during

the

six

months

ended

February

29,

2024

for

purposes

of

Section

2(a)(3)

of

the

Investment

Company

Act

of

1940,

as

amended,

were

as

follows:

Affiliated

Issuer

Value

at

08/31/23

Purchases

at

Cost

Proceeds

from

Sale

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

02/29/24

  Shares

Held

at

02/29/24

Income

  Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

$

13,704,791

$

401,449

(a)

$

—

$

921

$

2,820

$

14,109,981

14,102,930

$

166,284

(b)

$

—

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

.

828,406

69,980

(a)

—

—

—

898,386

898,386

26,993

—

BlackRock,

Inc.

...

901,595

282,795

(

162,306

)

35,200

114,291

1,171,575

1,444

13,020

—

$

36,121

$

117,111

$

16,179,942

$

206,297

$

—

(a)

Represents

net

amount

purchased

(sold).

(b)

All

or

a

portion

represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Futures

Contracts

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

(000)

Value/

Unrealized

Appreciation

(Depreciation)

Long

Contracts

E-Mini

S&P

500

Index

...................................................................

2

03/15/24

$

510

$

6,566

E-Mini

S&P

MidCap

400

Index

.............................................................

2

03/15/24

579

8,706

$

15,272

iShares

®

MSCI

USA

Equal

Weighted

ETF

Schedule

of

Investments

(unaudited)

(continued)

February

29,

2024

13

Schedule

of

Investments

Derivative

Financial

Instruments

Categorized

by

Risk

Exposure 

As

of

period

end,

the

fair

values

of

derivative

financial

instruments

located

in

the

Statement

of

Assets

and

Liabilities

were

as

follows: 

For

the

period

ended

February

29,

2024,

the

effect

of

derivative

financial

instruments

in

the

Statement

of

Operations

was

as

follows:

Average

Quarterly

Balances

of

Outstanding

Derivative

Financial

Instruments

For

more

information

about

the

Fund’s

investment

risks

regarding

derivative

financial

instruments,

refer

to

the

Notes

to

Financial

Statements. 

Fair

Value

Hierarchy

as

of

Period

End 

Various

inputs

are

used

in

determining

the

fair

value

of

financial

instruments.

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.

See

notes

to

financial

statements.

Commodity

Contracts

Credit

Contracts

Equity

Contracts

Foreign

Currency

Exchange

Contracts

Interest

Rate

Contracts

Other

Contracts

Total

Assets

—

Derivative

Financial

Instruments

Futures

contracts

Unrealized

appreciation

on

futures

contracts

(a)

.............

$

—

$

—

$

15,272

$

—

$

—

$

—

$

15,272

(a)

Net

cumulative

unrealized

appreciation

(depreciation)

on

futures

contracts

are

reported

in

the

Schedule

of

Investments.

In

the

Statement

of

Assets

and

Liabilities,

only

current

day’s

variation

margin

is

reported

in

receivables

or

payables

and

the

net

cumulative

unrealized

appreciation

(depreciation)

is

included

in

accumulated

earnings

(loss).

Commodity

Contracts

Credit

Contracts

Equity

Contracts

Foreign

Currency

Exchange

Contracts

Interest

Rate

Contracts

Other

Contracts

Total

Net

Realized

Gain

(Loss)

from

Futures

contracts

..................................

$

—

$

—

$

82,998

$

—

$

—

$

—

$

82,998

Net

Change

in

Unrealized

Appreciation

(Depreciation)

on

Futures

contracts

..................................

$

—

$

—

$

13,918

$

—

$

—

$

—

$

13,918

Futures

contracts

Average

notional

value

of

contracts

—

long

...................................................................................

$

1,644,023

a

Level

1

Level

2

Level

3

Total

Assets

Investments

Long-Term

Investments

Common

Stocks

.........................................

$

711,696,266

‌

$

—

‌

$

—

‌

$

711,696,266

‌

Short-Term

Securities

Money

Market

Funds

......................................

15,008,367

‌

—

‌

—

‌

15,008,367

‌

$

726,704,633

‌

$

—

‌

$

—

‌

$

726,704,633

‌

Derivative

Financial

Instruments

(a)

Assets

Equity

Contracts

...........................................

$

15,272

‌

$

—

‌

$

—

‌

$

15,272

‌

a

(a)

Derivative

financial

instruments

are

futures

contracts.

Futures

contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

14

2024

iShares

Semi-Annual

Report

to

Shareholders

Statement

of

Assets

and

Liabilities

(unaudited)

February

29,

2024

See

notes

to

financial

statements.

iShares

MSCI

USA

Equal

Weighted

ETF

ASSETS

Investments,

at

value

—

unaffiliated

(a)

(b)

....................................................................................

$

710,524,691

‌

Investments,

at

value

—

affiliated

(c)

.......................................................................................

16,179,942

‌

Cash

...........................................................................................................

2,899

‌

Cash

pledged:

Futures

contracts

.................................................................................................

90,000

‌

Receivables:

Investments

sold

.................................................................................................

35,935,868

‌

Securities

lending

income

—

affiliated

...................................................................................

37,333

‌

Dividends

—

unaffiliated

............................................................................................

946,900

‌

Dividends

—

affiliated

..............................................................................................

3,623

‌

Variation

margin

on

futures

contracts

....................................................................................

10,386

‌

Total

assets

......................................................................................................

763,731,642

‌

LIABILITIES

Collateral

on

securities

loaned

..........................................................................................

14,110,951

‌

Payables:

Investments

purchased

.............................................................................................

36,410,948

‌

Investment

advisory

fees

............................................................................................

47,311

‌

Total

liabilities

.....................................................................................................

50,569,210

‌

Commitments

and

contingent

liabilities

NET

ASSETS

.....................................................................................................

$

713,162,432

‌

NET

ASSETS

CONSIST

OF:

Paid-in

capital

.....................................................................................................

$

672,004,188

‌

Accumulated

earnings

...............................................................................................

41,158,244

‌

NET

ASSETS

.....................................................................................................

$

713,162,432

‌

NET

ASSET

VALUE

Shares

outstanding

.................................................................................................

8,150,000

‌

Net

asset

value

....................................................................................................

$

87.50

‌

Shares

authorized

..................................................................................................

500

million

Par

value

........................................................................................................

$                    0.001

(a)

Securities

loaned,

at

value

..........................................................................................

$

12,997,410

‌

(b)

Investments,

at

cost

—

unaffiliated

.....................................................................................

$

624,329,485

‌

(c)

Investments,

at

cost

—

affiliated

.......................................................................................

$

16,026,962

‌

15

Financial

Statements

Statement

of

Operations

(unaudited)

Six

Months

Ended

February

29,

2024

See

notes

to

financial

statements.

iShares

MSCI

USA

Equal

Weighted

ETF

INVESTMENT

INCOME

Dividends

—

unaffiliated

............................................................................................

$

5,372,629

‌

Dividends

—

affiliated

..............................................................................................

40,013

‌

Interest

—

unaffiliated

..............................................................................................

3,970

‌

Securities

lending

income

—

affiliated

—

net

...............................................................................

166,284

‌

Foreign

taxes

withheld

.............................................................................................

(

4,479

)

Total

investment

income

..............................................................................................

5,578,417

‌

EXPENSES

Investment

advisory

...............................................................................................

258,919

‌

Total

expenses

....................................................................................................

258,919

‌

Net

investment

income

...............................................................................................

5,319,498

‌

—

‌

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Net

realized

gain

(loss)

from:

Investments

—

unaffiliated

.........................................................................................

(

7,071,976

)

Investments

—

affiliated

...........................................................................................

634

‌

Futures

contracts

...............................................................................................

82,998

‌

In-kind

redemptions

—

unaffiliated

(a)

...................................................................................

16,899,535

‌

In-kind

redemptions

—

affiliated

(a)

....................................................................................

35,487

‌

9,946,678

‌

Net

change

in

unrealized

appreciation

(depreciation)

on:

Investments

—

unaffiliated

.........................................................................................

51,634,336

‌

Investments

—

affiliated

...........................................................................................

117,111

‌

Futures

contracts

...............................................................................................

13,918

‌

51,765,365

‌

Net

realized

and

unrealized

gain

........................................................................................

61,712,043

‌

NET

INCREASE

IN

NET

ASSETS

RESULTING

FROM

OPERATIONS

...............................................................

$

67,031,541

‌

(a)

See

Note

2

of

the

Notes

to

Financial

Statements.

16

2024

iShares

Semi-Annual

Report

to

Shareholders

Statements

of

Changes

in

Net

Assets

See

notes

to

financial

statements.

iShares

MSCI

USA

Equal

Weighted

ETF

Six

Months

Ended

02/29/24

(unaudited)

Year

Ended

08/31/23

INCREASE

(DECREASE)

IN

NET

ASSETS

OPERATIONS

Net

investment

income

............................................................................

$

5,319,498

‌

$

7,495,597

‌

Net

realized

gain

................................................................................

9,946,678

‌

337,894

‌

Net

change

in

unrealized

appreciation

(depreciation)

........................................................

51,765,365

‌

29,518,184

‌

Net

increase

in

net

assets

resulting

from

operations

...........................................................

67,031,541

‌

37,351,675

‌

DISTRIBUTIONS

TO

SHAREHOLDERS

(a)

Decrease

in

net

assets

resulting

from

distributions

to

shareholders

.................................................

(

5,145,476

)

(

7,198,664

)

CAPITAL

SHARE

TRANSACTIONS

Net

increase

in

net

assets

derived

from

capital

share

transactions

.................................................

95,743,565

‌

112,912,241

‌

NET

ASSETS

Total

increase

in

net

assets

...........................................................................

157,629,630

‌

143,065,252

‌

Beginning

of

period

................................................................................

555,532,802

‌

412,467,550

‌

End

of

period

....................................................................................

$

713,162,432

‌

$

555,532,802

‌

(a)

Distributions

for

annual

periods

determined

in

accordance

with

U.S.

federal

income

tax

regulations.

17

Financial

Highlights

Financial

Highlights

(For

a

share

outstanding

throughout

each

period)

See

notes

to

financial

statements.

iShares

MSCI

USA

Equal

Weighted

ETF

Six

Months

Ended

02/29/24

(unaudited)

Year

Ended

08/31/23

Year

Ended

08/31/22

Year

Ended

08/31/21

Year

Ended

08/31/20

Year

Ended

08/31/19

Net

asset

value,

beginning

of

period

......

$

79.36

‌

$

74.32

‌

$

87.61

‌

$

62.79

‌

$

58.13

‌

$

59.33

‌

Net

investment

income

(a)

..............

0

.73

‌

1

.27

‌

1

.25

‌

1

.03

‌

1

.09

‌

0

.92

‌

Net

realized

and

unrealized

gain

(loss)

(b)

....

8

.12

‌

5

.05

‌

(

13.32

)

24.72

‌

4

.65

‌

(

1

.11

)

Net

increase

(decrease)

from

investment

operations

........................

8

.85

‌

6

.32

‌

(

12.07

)

25.75

‌

5

.74

‌

(

0

.19

)

Distributions

from

net

investment

income

(c)

....

(

0

.71

)

(

1

.28

)

(

1

.22

)

(

0

.93

)

(

1

.08

)

(

1

.01

)

Net

asset

value,

end

of

period

...........

$

87.50

‌

$

79.36

‌

$

74.32

‌

$

87.61

‌

$

62.79

‌

$

58.13

‌

Total

Return

(d)

–

–

–

–

–

–

Based

on

net

asset

value

...............

11.26

%

(e)

8

.69

%

(

13.93

)

%

41.36

%

10.18

%

(

0

.23

)

%

Ratios

to

Average

Net

Assets

(f)

–

–

–

–

–

–

Total

expenses

......................

0

.09

%

(g)

0

.09

%

0

.10

%

0

.15

%

0

.15

%

0

.15

%

Total

expenses

after

fees

waived

..........

0

.09

%

(g)

0

.09

%

0

.09

%

0

.15

%

0

.15

%

0

.15

%

Net

investment

income

.................

1

.85

%

(g)

1

.69

%

1

.52

%

1

.34

%

1

.84

%

1

.63

%

Supplemental

Data

Net

assets,

end

of

period

(000)

...........

$

713,162

‌

$

555,533

‌

$

412,468

‌

$

473,092

‌

$

226,062

‌

$

308,090

‌

Portfolio

turnover

rate

(h)

.................

13

%

28

%

27

%

30

%

30

%

24

%

(a)

Based

on

average

shares

outstanding.

(b)

The

amounts

reported

for

a

share

outstanding

may

not

accord

with

the

change

in

aggregate

gains

and

losses

in

securities

for

the

fiscal

period

due

to

the

timing

of

capital

share

transactions

in

relation

to

the

fluctuating

market

values

of

the

Fund’s

underlying

securities.

(c)

Distributions

for

annual

periods

determined

in

accordance

with

U.S.

federal

income

tax

regulations.

(d)

Where

applicable,

assumes

the

reinvestment

of

distributions.

(e)

Not

annualized.

(f)

Excludes

fees

and

expenses

incurred

indirectly

as

a

result

of

investments

in

underlying

funds.

(g)

Annualized.

(h)

Portfolio

turnover

rate

excludes

in-kind

transactions,

if

any.

Notes

to

Financial

Statements

(unaudited)

18

2024

iShares

Semi-Annual

Report

to

Shareholders

1.

Organization

iShares,

Inc.

(the

“Company”)

is

registered

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“1940

Act”),

as

an

open-end

management

investment

company.

The

Company

is

organized

as

a

Maryland

corporation

and

is

authorized

to

have

multiple

series

or

portfolios. 

These financial

statements

relate

only

to

the

following

fund

(the

“Fund”):

2.

Significant

Accounting

Policies

The

financial

statements

are

prepared

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(“U.S.

GAAP”),

which

may

require

management

to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities

in

the

financial

statements,

disclosure

of

contingent

assets

and

liabilities

at

the

date

of

the

financial

statements

and

the

reported

amounts

of

increases

and

decreases

in

net

assets

from

operations

during

the

reporting

period.

Actual

results

could

differ

from

those

estimates. The

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

Fund

is

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. Interest

income,

including

amortization

and

accretion

of

premiums

and

discounts

on

debt

securities,

is

recognized

daily

on

an

accrual

basis.

Foreign

Taxes:

The

Fund

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

the

Fund

invests.

These

foreign

taxes,

if

any,

are

paid

by

the

Fund

and

are

reflected

in

its

Statement

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

February

29,

2024,

if

any,

are

disclosed

in

the

Statement

of

Assets

and

Liabilities.

The

Fund

files

withholding

tax

reclaims

in

certain

jurisdictions

to

recover

a

portion

of

amounts

previously

withheld.

The

Fund

may

record

a

reclaim

receivable

based

on

collectability,

which

includes

factors

such

as

the

jurisdiction’s

applicable

laws,

payment

history

and

market

convention.

The

Statement

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

Fund

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

Fund.

Because

such

gains

or

losses

are

not

taxable

to

the

Fund

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 Fund’s

tax

year.

These

reclassifications

have

no

effect

on

net

assets

or

net

asset

value

(“NAV”)

per

share.

Distributions:

Dividends

and

distributions

paid

by the

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

Fund.

Indemnifications:

In

the

normal

course

of

business,

the

Fund

enters

into

contracts

that

contain

a

variety

of

representations

that

provide

general

indemnification.

The

Fund’s

maximum

exposure

under

these

arrangements

is

unknown

because

it

involves

future

potential

claims

against

the

Fund,

which

cannot

be

predicted

with

any

certainty.

3.

Investment

Valuation

and

Fair

Value

Measurements

Investment

Valuation

Policies:

The

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.

The

Board

of Directors of

the

Company (the

“Board”) of

the

Fund

has

approved

the

designation

of

BlackRock

Fund

Advisors

(“BFA”),

the

Fund’s

investment

adviser, as

the

valuation

designee

for

the

Fund.

The

Fund

determines

the

fair

values

of

its

financial

instruments

using

various

independent

dealers

or

pricing

services

under

BFA’s

policies.

If

a

security’s

market

price

is

not

readily

available

or

does

not

otherwise

accurately

represent

the

fair

value

of

the

security,

the

security

will

be

valued

in

accordance

with

BFA’s

policies

and

procedures

as

reflecting

fair

value.

BFA

has

formed

a

committee

(the

“Valuation

Committee”)

to

develop

pricing

policies

and

procedures

and

to

oversee

the

pricing

function

for

all

financial

instruments,

with

assistance

from

other

BlackRock

pricing

committees.

iShares

ETF

Diversification

Classification

MSCI

USA

Equal

Weighted

..............................................................................................

Diversified

Notes

to

Financial

Statements

(unaudited)

(

continued)

19

Notes

to

Financial

Statements

Fair

Value

Inputs

and

Methodologies:

The

following

methods

and

inputs

are

used

to

establish

the

fair

value

of

the

Fund’s

assets

and

liabilities:

Equity

investments

traded

on

a

recognized

securities

exchange

are

valued

at

that

day’s

official

closing

price,

as

applicable,

on

the

exchange

where

the

stock

is

primarily

traded.

Equity

investments

traded

on

a

recognized

exchange

for

which

there

were

no

sales

on

that

day

are

valued

at

the

last

traded

price.

Investments

in

open-end

U.S.

mutual

funds

(including

money

market

funds)

are

valued

at

that

day’s

published

NAV. 

Futures

contracts

are

valued

based

on

that

day’s

last

reported

settlement

or

trade

price

on

the

exchange

where

the

contract

is

traded. 

If

events

(e.g.,

market

volatility,

company

announcement

or

a

natural

disaster)

occur

that

are

expected

to

materially

affect

the

value

of

such

investment,

or

in

the

event

that

application

of

these

methods

of

valuation

results

in

a

price

for

an

investment

that

is

deemed

not

to

be

representative

of

the

market

value

of

such

investment,

or

if

a

price

is

not

available,

the

investment

will

be

valued

by

the

Valuation

Committee,

in

accordance

with BFA’s

policies

and

procedures

as

reflecting

fair

value

(“Fair

Valued

Investments”).

The

fair

valuation

approaches

that

may

be

used

by

the

Valuation

Committee

include

market

approach,

income

approach

and

cost

approach.

Valuation

techniques

such

as

discounted

cash

flow,

use

of

market

comparables

and

matrix

pricing

are

types

of

valuation

approaches

and

are

typically

used

in

determining

fair

value.

When

determining

the

price

for

Fair

Valued

Investments,

the

Valuation

Committee

seeks

to

determine

the

price

that the

Fund

might

reasonably

expect

to

receive

or

pay

from

the

current

sale

or

purchase

of

that

asset

or

liability

in

an

arm’s-length

transaction.

Fair

value

determinations

shall

be

based

upon

all

available

factors

that

the

Valuation

Committee

deems

relevant

and

consistent

with

the

principles

of

fair

value

measurement.

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:

Level

1

–

Unadjusted

price

quotations

in

active

markets/exchanges

for

identical

assets

or

liabilities

that the

Fund

has

the

ability

to

access;

Level

2

–

Other

observable

inputs

(including,

but

not

limited

to,

quoted

prices

for

similar

assets

or

liabilities

in

markets

that

are

active,

quoted

prices

for

identical

or

similar

assets

or

liabilities

in

markets

that

are

not

active,

inputs

other

than

quoted

prices

that

are

observable

for

the

assets

or

liabilities

(such

as

interest

rates,

yield

curves,

volatilities,

prepayment

speeds,

loss

severities,

credit

risks

and

default

rates)

or

other

market-corroborated

inputs);

and

Level

3

–

Unobservable

inputs

based

on

the

best

information

available

in

the

circumstances,

to

the

extent

observable

inputs

are

not

available,

(including

the

Valuation

Committee’s

assumptions

used

in

determining

the

fair

value

of

financial

instruments).

The

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements).

Accordingly,

the

degree

of

judgment

exercised

in

determining

fair

value

is

greatest

for

instruments

categorized

in

Level

3.

The

inputs

used

to

measure

fair

value

may

fall

into

different

levels

of

the

fair

value

hierarchy.

In

such

cases,

for

disclosure

purposes,

the

fair

value

hierarchy

classification

is

determined

based

on

the

lowest

level

input

that

is

significant

to

the

fair

value

measurement

in

its

entirety.

Investments

classified

within

Level

3

have

significant

unobservable

inputs

used

by

the

Valuation

Committee

in

determining

the

price

for

Fair

Valued

Investments.

Level

3

investments

include

equity

or

debt

issued

by

privately

held

companies

or

funds

that

may

not

have

a

secondary

market

and/or

may

have

a

limited

number

of

investors.

The

categorization

of

a

value

determined

for

financial

instruments

is

based

on

the

pricing

transparency

of

the

financial

instruments

and

is

not

necessarily

an

indication

of

the

risks

associated

with

investing

in

those

securities.

4.

Securities

and

Other

Investments

Securities

Lending:

The

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

the

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,

the

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 BFA,

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

the

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

Statement

of

Assets

and

Liabilities.

Securities

lending

transactions

are

entered

into

by

the

Fund

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

Fund,

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 Fund

can

reinvest

cash

collateral

received

in

connection

with

loaned

securities.

Upon

an

event

of

default,

the

parties’

obligations

to

return

the

securities

or

collateral

to

the

other

party

are

extinguished,

and

the

parties

can

resell

or

re-pledge

the

loaned

securities

or

the

collateral

received

in

connection

with

the

loaned

securities

in

order

to

satisfy

the

defaulting

party’s

net

payment

obligation

for

all

transactions

under

the

MSLA.

The

defaulting

party

remains

liable

for

any

deficiency.

Notes

to

Financial

Statements

(unaudited)

(continued)

20

2024

iShares

Semi-Annual

Report

to

Shareholders

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,

the

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.

The

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

the

Fund.

5.

Derivative

Financial

Instruments

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

Fund

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

Fund

is

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

Statement

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

Statement

of

Assets

and

Liabilities.

Pursuant

to

the

contract,

the

Fund

agrees

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

Statement

of

Assets

and

Liabilities.

When

the

contract

is

closed,

a

realized

gain

or

loss

is

recorded

in

the

Statement

of

Operations

equal

to

the

difference

between

the

notional

amount

of

the

contract

at

the

time

it

was

opened

and

the

notional

amount

at

the

time

it

was

closed.

The

use

of

futures

contracts

involves

the

risk

of

an

imperfect

correlation

in

the

movements

in

the

price

of

futures

contracts

and

interest

rates,

foreign

currency

exchange

rates

or

underlying

assets. 

6.

Investment

Advisory

Agreement

and

Other

Transactions

with

Affiliates 

Investment

Advisory

Fees:

Pursuant

to

an

Investment

Advisory

Agreement

with

the

Company, BFA

manages

the

investment

of

the

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

Fund,

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

directors).

For

its

investment

advisory

services

to

the

Fund,

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: 

Distributor:

BlackRock

Investments,

LLC

(“BRIL”),

an

affiliate

of

BFA,

is

the

distributor

for

the

Fund.

Pursuant

to

the

distribution

agreement,

BFA

is

responsible

for

any

fees

or

expenses

for

distribution

services

provided

to

the

Fund. 

iShares

ETF

and

Counterparty

Securities

Loaned

at

Value

Cash

Collateral

Received

(a)

Non-Cash

Collateral

Received,

at

Fair

Value

(a)

Net

Amount

(b)

MSCI

USA

Equal

Weighted

Barclays

Bank

PLC

...........................................

$

1,364,205

‌

$

(

1,364,205

)

$

—

‌

$

—

‌

Barclays

Capital,

Inc.

.........................................

1,375,862

‌

(

1,375,862

)

—

‌

—

‌

BNP

Paribas

SA

.............................................

730,028

‌

(

730,028

)

—

‌

—

‌

BofA

Securities,

Inc.

..........................................

252,203

‌

(

252,203

)

—

‌

—

‌

Citigroup

Global

Markets,

Inc.

....................................

1,808,847

‌

(

1,584,425

)

—

‌

224,422

‌

Goldman

Sachs

&

Co.

LLC

.....................................

1,655,708

‌

(

1,655,708

)

—

‌

—

‌

HSBC

Bank

PLC

............................................

884,949

‌

(

884,949

)

—

‌

—

‌

J.P.

Morgan

Securities

LLC

.....................................

1,903,736

‌

(

1,903,736

)

—

‌

—

‌

Morgan

Stanley

.............................................

1,723,924

‌

(

1,723,924

)

—

‌

—

‌

Natixis

SA

.................................................

89,851

‌

(

89,851

)

—

‌

—

‌

RBC

Capital

Markets

LLC

......................................

838,020

‌

(

833,903

)

—

‌

4,117

‌

Scotia

Capital

(USA),

Inc.

......................................

370,077

‌

(

370,077

)

—

‌

—

‌

$

12,997,410

‌

$

(

12,768,871

)

$

—

‌

$

228,539

‌

a

(a)

Collateral

received,

if

any,

in

excess

of

the

market

value

of

securities

on

loan

is

not

presented

in

this

table.

The

total

cash

collateral

received

by

the

Fund

is

disclosed

in

the

Fund’s

Statement

of

Assets

and

Liabilities.

(b)

The

market

value

of

the

loaned

securities

is

determined

as

of

February

29,

2024.

Additional

collateral

is

delivered

to

the

Fund

on

the

next

business

day

in

accordance

with

the

MSLA.

The

net

amount

would

be

subject

to

the

borrower

default

indemnity

in

the

event

of

default

by

the

counterparty.

iShares

ETF

Investment

Advisory

Fees

MSCI

USA

Equal

Weighted

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

0.09%

Notes

to

Financial

Statements

(unaudited)

(

continued)

21

Notes

to

Financial

Statements

ETF

Servicing

Fees:

The

Fund

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.

The

Fund

does

not

pay

BRIL

for

ETF

Services. 

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

Fund,

subject

to

applicable

conditions.

As

securities

lending

agent,

BTC

bears

all

operational

costs

directly

related

to

securities

lending,

including

any

custodial

costs.

The

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 the

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. 

The

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,

the

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.

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

that

calendar

year

exceeds

a

specified

threshold, the

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.

The

share

of

securities

lending

income

earned

by

the

Fund

is

shown

as

securities

lending

income

–

affiliated

–

net

in

its

Statement

of

Operations.

For

the six

months

ended

February

29,

2024

,

the

Fund

paid

BTC

$42,738 for

securities

lending

agent

services.

Officers

and

Directors:

Certain

officers

and/or

directors

of

the

Company

are

officers

and/or directors

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

six

months

ended

February

29,

2024

,

transactions

executed

by

the

Fund

pursuant

to

Rule

17a-7

under

the

1940

Act

were

as

follows:

The

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

Statement

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.

7.

Purchases

and

Sales

For

the six

months

ended

February

29,

2024

,

purchases

and

sales

of

investments,

excluding

short-term

securities

and

in-kind

transactions,

were

as

follows:

For

the six

months ended

February

29,

2024

,

in-kind

transactions

were

as

follows:

8.

Income

Tax

Information

The

Fund

is

treated

as

an

entity

separate

from

the

Company’s

other

funds

for

federal

income

tax

purposes.

It

is

the

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

Fund

as

of

February

29,

2024,

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

Fund’s

financial

statements.

iShares

ETF

Purchases

Sales

Net

Realized

Gain

(Loss)

MSCI

USA

Equal

Weighted

.........................................................

$

33,481,386

‌

$

28,849,636

‌

$

(

3,957,496

)

iShares

ETF

Purchases

Sales

MSCI

USA

Equal

Weighted

...........................................................................

$

80,999,549

‌

$

77,874,318

‌

iShares

ETF

In-kind

Purchases

In-kind

Sales

MSCI

USA

Equal

Weighted

...........................................................................

$

161,405,867

‌

$

66,559,124

‌

Notes

to

Financial

Statements

(unaudited)

(continued)

22

2024

iShares

Semi-Annual

Report

to

Shareholders

As

of August

31,

2023,

the

Fund

had

non-expiring

capital

loss

carryforwards available

to

offset

future

realized

capital

gains

as

follows:

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

February

29,

2024,

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:

9.

Principal

Risks

In

the

normal

course

of

business,

the

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

Fund

and

its

investments. The

Fund’s

prospectus

provides

details

of

the

risks

to

which

the

Fund

is

subject.

BFA

uses

an

indexing

approach

to

try

to

achieve

the

Fund’s

investment

objective.

The

Fund

is

not

actively

managed,

and

BFA

generally

does

not

attempt

to

take

defensive

positions

under

any

market

conditions,

including

declining

markets.

The

Fund

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.

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. 

Counterparty

Credit

Risk:

The

Fund

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

Fund

manages

counterparty

credit

risk

by

entering

into

transactions

only

with

counterparties

that

BFA

believes

have

the

financial

resources

to

honor

their

obligations

and

by

monitoring

the

financial

stability

of

those

counterparties.

Financial

assets,

which

potentially

expose

the

Fund

to

market,

issuer

and

counterparty

credit

risks,

consist

principally

of

financial

instruments

and

receivables

due

from

counterparties.

The

extent

of

the

Fund’s

exposure

to

market,

issuer

and

counterparty

credit

risks

with

respect

to

these

financial

assets

is

approximately

their

value

recorded

in

the

Statement

of

Assets

and

Liabilities,

less

any

collateral

held

by

the

Fund.

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

Fund

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

Fund.

Geographic/Asset

Class

Risk:

A

diversified

portfolio,

where

this

is

appropriate

and

consistent

with

a

fund’s

objectives,

minimizes

the

risk

that

a

price

change

of

a

particular

investment

will

have

a

material

impact

on

the

NAV

of

a

fund.

The

investment

concentrations

within

the

Fund’s

portfolio

are

disclosed

in

its

Schedule

of

Investments.

The

Fund

invests

a

significant

portion

of

its

assets

in

securities

of

issuers

located

in

the

United

States.

A

decrease

in

imports

or

exports,

changes

in

trade

regulations,

inflation

and/or

an

economic

recession

in

the

United

States

may

have

a

material

adverse

effect

on

the

U.S.

economy

and

the

securities

listed

on

U.S.

exchanges.

Proposed

and

adopted

policy

and

legislative

changes

in

the

United

States

may

also

have

a

significant

effect

on

U.S.

markets

generally,

as

well

as

on

the

value

of

certain

securities.

Governmental

agencies

project

that

the

United

States

will

continue

to

maintain

elevated

public

debt

levels

for

the

foreseeable

future

which

may

constrain

future

economic

iShares

ETF

Non-Expiring

Capital

Loss

Carryforwards

MSCI

USA

Equal

Weighted

............................................................................................

$

(

55,536,677

)

iShares

ETF

Tax

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

Depreciation

Net

Unrealized

Appreciation

(Depreciation)

MSCI

USA

Equal

Weighted

.......................................

$

641,700,729

‌

$

111,030,581

‌

$

(

26,011,405

)

$

85,019,176

‌

Notes

to

Financial

Statements

(unaudited)

(

continued)

23

Notes

to

Financial

Statements

growth.

Circumstances

could

arise

that

could

prevent

the

timely

payment

of

interest

or

principal

on

U.S.

government

debt,

such

as

reaching

the

legislative

“debt

ceiling.”

Such

non-payment

would

result

in

substantial

negative

consequences

for

the

U.S.

economy

and

the

global

financial

system.

If

U.S.

relations

with

certain

countries

deteriorate,

it

could

adversely

affect

issuers

that

rely

on

the

United

States

for

trade.

The

United

States

has

also

experienced

increased

internal

unrest

and

discord.

If

these

trends

were

to

continue,

they

may

have

an

adverse

impact

on

the

U.S.

economy

and

the

issuers

in

which

the

Fund

invests.

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.

10.

Capital

Share

Transactions 

Capital

shares

are

issued

and

redeemed

by the

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

the

Fund

are

not

redeemable.

Transactions

in

capital

shares

were

as

follows:

The

consideration

for

the

purchase

of

Creation

Units

of

a

fund

in

the

Company

generally

consists

of

the

in-kind

deposit

of

a

designated

portfolio

of

securities

and

a

specified

amount

of

cash.

Certain

funds

in

the

Company

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

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

Statement

of

Assets

and

Liabilities.

11.

Subsequent

Events

Management

has

evaluated

the

impact

of

all

subsequent

events

on

the

Fund

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.

Six

Months

Ended

02/29/24

Year

Ended

08/31/23

iShares

ETF

Shares

Amount

Shares

Amount

MSCI

USA

Equal

Weighted

Shares

sold

...............................................

2,000,000

‌

$

162,930,340

‌

3,000,000

‌

$

230,557,616

‌

Shares

redeemed

...........................................

(

850,000

)

(

67,186,775

)

(

1,550,000

)

(

117,645,375

)

1,150,000

‌

$

95,743,565

‌

1,450,000

‌

$

112,912,241

‌

Statement

Regarding

Liquidity

Risk

Management

Program

(unaudited)

24

2024

iShares

Semi-Annual

Report

to

Shareholders

In

compliance

with

Rule

22e-4

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“Liquidity

Rule”),

iShares,

Inc.

(the

“Company”)

has

adopted

and

implemented

a

liquidity

risk

management

program

(the

“Program”)

for iShares

MSCI

USA

Equal

Weighted

ETF

(the

“Fund”

or

“ETF”),

a

series

of

the

Company,

which

is

reasonably

designed

to

assess

and

manage the

Fund’s

liquidity

risk.

The

Board

of

Directors

(the

“Board”)

of

the

Company,

on

behalf

of

the

Fund,

met

on

December

8,

2023

(the

“Meeting”)

to

review

the

Program.

The

Board

previously

appointed

BlackRock

Fund

Advisors

(“BlackRock”),

the

investment

adviser

to

the

Fund,

as

the

program

administrator

for the

Fund’s

Program.

BlackRock

also

previously

delegated

oversight

of

the

Program

to

the

40

Act

Liquidity

Risk

Management

Committee

(the

“Committee”).

At

the

Meeting,

the

Committee,

on

behalf

of

BlackRock,

provided

the

Board

with

a

report

that

addressed

the

operation

of

the

Program

and

assessed

its

adequacy

and

effectiveness

of

implementation,

including

the

management

of

the

Fund’s

Highly

Liquid

Investment

Minimum

(“HLIM”)

where

applicable,

and

any

material

changes

to

the

Program

(the

“Report”).

The

Report

covered

the

period

from

October

1,

2022

through

September

30,

2023

(the

“Program

Reporting

Period”).

The

Report

described

the

Program’s

liquidity

classification

methodology

for

categorizing the

Fund’s

investments

(including

derivative

transactions)

into

one

of

four

liquidity

buckets.

It

also

referenced

the

methodology

used

by

BlackRock

to

establish the Fund’s

HLIM

and

noted

that

the

Committee

reviews

and

ratifies

the

HLIM

assigned

to

the Fund

no

less

frequently

than

annually.

The

Report

also

discussed

notable

events

affecting

liquidity

over

the

Program

Reporting

Period,

including

extended

market

holidays,

delays

in

the

repatriation

of

the

local

currency

in

certain

non-U.S.

countries,

the

continued

illiquidity

of

Russian

equity

securities

and

the

suspension

of

select

sanctions

in

Venezuela.

The

Report

noted

that

the

Program

complied

with

the

key

factors

for

consideration

under

the

Liquidity

Rule

for

assessing,

managing

and

periodically

reviewing

the

Fund’s

liquidity

risk,

as

follows:

a)

The

Fund’s

investment

strategy

and

liquidity

of

portfolio

investments

during

both

normal

and

reasonably

foreseeable

stressed

conditions.

During

the

Program

Reporting

Period,

the

Committee

reviewed

whether

the

Fund’s

strategy

is

appropriate

for

an

open-end

fund

structure,

with

a

focus

on

funds

with

more

significant

and

consistent

holdings

of

less

liquid

and

illiquid

assets.

The

Committee

also

factored

a

fund’s

concentration

in

an

issuer

into

the

liquidity

classification

methodology

by

taking

issuer

position

sizes

into

account.

Derivative

exposure

was

also

considered

in

the

calculation

of

a

fund’s

liquidity

bucketing.

Finally,

a

factor

for

consideration

under

the

Liquidity

Rule

is

a

Fund’s

use

of

borrowings

for

investment

purposes.

However,

the

Fund

does

not

borrow

for

investment

purposes.

b)

Short-term

and

long-term

cash

flow

projections

during

both

normal

and

reasonably

foreseeable

stressed

conditions.

During

the

Program

Reporting

Period,

the

Committee

reviewed

historical

redemption

activity

and

used

this

information

as

a

component

to

establish

each

ETF’s

reasonably

anticipated

trading

size

utilized

for

liquidity

classifications.

The

Committee

may

also

take

into

consideration

a

fund’s

shareholder

ownership

concentration

(which,

depending

on

product

type

and

distribution

channel,

may

or

may

not

be

available),

a

fund’s

distribution

channels,

and

the

degree

of

certainty

associated

with

a

fund’s

short-term

and

long-term

cash

flow

projections.

c)

Holdings

of

cash

and

cash

equivalents,

as

well

as

borrowing

arrangements.

The

Committee

considered

that

ETFs

generally

do

not

hold

more

than

de

minimis

amounts

of

cash.

The

Committee

also

considered

that

ETFs

generally

do

not

engage

in

borrowing.

d)

The

relationship

between

an

ETF’s

portfolio

liquidity

and

the

way

in

which,

and

the

prices

and

spreads

at

which,

ETF

shares

trade,

including

the

efficiency

of

the

arbitrage

function

and

the

level

of

active

participation

by

market

participants,

including

authorized

participants.

The

Committee

monitored

the

prevailing

bid/ask

spread

and

the

ETF

price

premium

(or

discount)

to

NAV

for

all

ETFs.

However,

there

were

no

ETFs

with

persistent

deviations

of

fund

premium/

discount

or

bid/ask

spreads

from

long-term

averages

over

the

Program

Reporting

Period.

e)

The

effect

of

the

composition

of

baskets

on

the

overall

liquidity

of

an

ETF’s

portfolio.

In

reviewing

the

linkage

between

the

composition

of

custom

baskets

accepted

by

an

ETF

and

any

significant

change

in

the

liquidity

profile

of

such

ETF,

the

Committee

reviewed

changes

in

the

proportion

of

each

ETF’s

portfolio

comprised

of

less

liquid

and

illiquid

holdings

to

determine

if

applicable

thresholds

were

met

requiring

enhanced

review.

There

were

no

ETFs

for

which

the

custom

baskets

accepted

by

the

ETF

had

a

significant

change

in

its

liquidity

profile.

There

were

no

material

changes

to

the

Program

during

the

Program

Reporting

Period

other

than

the

enhancement

of

certain

model

components

in

the

Program’s

classification

methodology.

The

Report

provided

to

the

Board

stated

that

the

Committee

concluded

that

based

on

the

operation

of

the

functions,

as

described

in

the

Report,

the

Program

is

operating

as

intended

and

is

effective

in

implementing

the

requirements

of

the

Liquidity

Rule.

Supplemental

Information

(unaudited)

25

Supplemental

Information

Section

19(a)

Notices

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

the

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.

February

29,

2024

Tailored

Shareholder

Reports

for

Open-End

Mutual

Funds

and

ETFs 

Effective

January

24,

2023,

the

SEC adopted

rule

and

form

amendments

to

require

open-end

mutual

funds

and

ETFs

to

transmit

concise

and

visually

engaging

streamlined

annual

and

semiannual

reports

to

shareholders

that

highlight

key

information.

Other

information,

including

financial

statements,

will

no

longer

appear

in

a

streamlined

shareholder

report

but

must

be

available

online,

delivered

free

of

charge

upon

request,

and

filed

on

a

semiannual

basis

on

Form

N-CSR.

The

rule

and

form

amendments

have

a

compliance

date

of

July

24,

2024.

At

this

time,

management

is

evaluating

the

impact

of

these

amendments

on

the

shareholder

reports

for

the

Funds.

Total

Cumulative

Distributions

for

the

Fiscal

Year-to-Date

%

Breakdown

of

the

Total

Cumulative

Distributions

for

the

Fiscal

Year-to-Date

iShares

ETF

Net

Investment

Income

Net

Realized

Capital

Gains

Return

of

Capital

Total

Per

Share

Net

Investment

Income

Net

Realized

Capital

Gains

Return

of

Capital

Total

Per

Share

MSCI

USA

Equal

Weighted

............

$

0

.712386

‌

$

—

‌

$

—

‌

$

0

.712386

‌

100

%

—

%

—

%

100

%

General

Information

26

2024

iShares

Semi-Annual

Report

to

Shareholders

Electronic

Delivery

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.

To

enroll

in

electronic

delivery:

Go

to

icsdelivery.com

.

If

your

brokerage

firm

is

not

listed,

electronic

delivery

may

not

be

available.

Please

contact

your

broker-dealer

or

financial

advisor.

Householding

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.

Availability

of

Quarterly

Schedule

of

Investments

The

Fund

files

its

complete

schedule

of

portfolio

holdings

with

the

SEC

for

the

first

and

third

quarters

of

each

fiscal

year

as

an

exhibit

to

its

reports

on

Form

N-PORT.

The

Fund’s

Form

N-PORT

are

available

on

the

SEC’s

website

at

sec.gov

.

Additionally,

the

Fund

makes

its

portfolio

holdings

for

the

first

and

third

quarters

of

each

fiscal

year

available

at

iShares.com/fundreports

.

Availability

of

Proxy

Voting

Policies

and

Proxy

Voting

Records

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

Company’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

.

Glossary

of

Terms

Used

in

this

Report

27

Glossary

of

Terms

Used

in

this

Report

Portfolio

Abbreviation

NVS

Non-Voting

Shares

REIT

Real

Estate

Investment

Trust

iS-SAR-823-0224

Want

to

know

more?

iShares.com

|

1-800-474-2737

This

report

is

intended

for

the

Fund’s

shareholders.

It

may

not

be

distributed

to

prospective

investors

unless

it

is

preceded

or

accompanied

by

the

current

prospectus.

Investing

involves

risk,

including

possible

loss

of

principal.

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.

©2024

BlackRock,

Inc.

All

rights

reserved.

iSHARES

and

BLACKROCK

are

registered

trademarks

of

BlackRock,

Inc.

or

its

subsidiaries.

All

other

marks

are

the

property

of

their

respective

owners.

b) Not Applicable

Item 2.   Code of Ethics.

Not applicable to this semi-annual report.

Item 3.   Audit Committee Financial Expert.

Not applicable to this semi-annual report.

Item 4.   Principal Accountant Fees and Services.

Not applicable to this semi-annual report.

Item 5.   Audit Committee of Listed Registrants.

Not applicable to this semi-annual report.

Item 6.   Investments.

(a)

Schedules of investments are included as part of the reports to shareholders filed under Item 1 of this Form.

(b)

Not applicable.

Item 7.   Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

                Not applicable to the registrant.

Item 8.   Portfolio Managers of Closed-End Management Investment Companies.

                Not applicable to the registrant.

Item 9.   Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

                Not applicable to the registrant.

Item 10. Submission of Matters to a Vote of Security Holders.

There were no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Directors.

Item 11. Controls and Procedures.

(a)

The President (the registrant’s Principal Executive Officer) and Treasurer and Chief Financial Officer (the registrant’s Principal Financial Officer) have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective as of a date within 90 days of the filing date of this report, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rules 13a-15(b) or 15d-15(b) under the Exchange Act of 1934.

(b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable to the registrant.

Item 13.   Recovery of Erroneously Awarded Compensation.

Not applicable

Item 14. Exhibits.

(a) (1) Not applicable to this semi-annual report.

(a) (2) Section 302 Certifications are attached.

(a)

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

      (a) (4) Change in Registrant’s independent public accountant – Not Applicable

(b) Section 906 Certifications are attached.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
iShares, Inc.
By: /s/ Jessica Tan
Jessica Tan, President (Principal Executive Officer)
Date:	April 19, 2024
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: /s/ Jessica Tan
Jessica Tan, President (Principal Executive Officer)
Date:		April 19, 2024
By: /s/ Trent Walker
Trent Walker, Treasurer and Chief Financial Officer (Principal Financial Officer)
Date:		April 19, 2024

EX-99.CERT

N-CSR Exhibit for Item 14(a)(2): SECTION 302 CERTIFICATIONS                                EX-99.CERT

I, Jessica Tan, certify that:

1.I have reviewed this report on Form N-CSR of iShares, Inc. for the following one series: iShares MSCI USA Equal Weighted ETF;

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

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

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

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

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

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

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

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

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

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	April 19, 2024	/s/ Jessica Tan	President (Principal Executive Officer)
		Jessica Tan [Signature]	[Title]

N-CSR Exhibit for Item 14(a)(2): SECTION 302 CERTIFICATIONS                             EX-99.CERT

I, Trent Walker, certify that:

1.I have reviewed this report on Form N-CSR of iShares, Inc. for the following one series: iShares MSCI USA Equal Weighted ETF;

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

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

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

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

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

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

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

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

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

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	April 19, 2024	/s/ Trent Walker	Treasurer and Chief Financial Officer (Principal Financial Officer)
		Trent Walker [Signature]	[Title]

EX-99.906 CERT

Ex.99.906 CERT

N-CSR Exhibit for Item 14(b): CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002                      

Jessica Tan, President (Principal Executive Officer), and Trent Walker, Treasurer and Chief Financial Officer (Principal Financial Officer), of iShares, Inc. (the “Registrant”), each certify, to his knowledge, that:

1. The Registrant’s periodic report on Form N-CSR for the period ended February 29, 2024 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date:	April 19, 2024	/s/ Jessica Tan	President (Principal Executive Officer)
		Jessica Tan [Signature]	[Title]

Date:	April 19, 2024	/s/ Trent Walker	Treasurer and Chief Financial Officer (Principal Financial Officer)
		Trent Walker [Signature]	[Title]