0001193125-18-231419.txt : 20180730 0001193125-18-231419.hdr.sgml : 20180730 20180730155610 ACCESSION NUMBER: 0001193125-18-231419 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180531 FILED AS OF DATE: 20180730 DATE AS OF CHANGE: 20180730 EFFECTIVENESS DATE: 20180730 FILER: COMPANY DATA: COMPANY CONFORMED NAME: iSHARES INC CENTRAL INDEX KEY: 0000930667 IRS NUMBER: 510396525 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-09102 FILM NUMBER: 18977567 BUSINESS ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: (415) 670-2000 MAIL ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FORMER COMPANY: FORMER CONFORMED NAME: ISHARES INC DATE OF NAME CHANGE: 20000516 FORMER COMPANY: FORMER CONFORMED NAME: WEBS INDEX FUND INC DATE OF NAME CHANGE: 19970211 FORMER COMPANY: FORMER CONFORMED NAME: FOREIGN FUND INC DATE OF NAME CHANGE: 19950524 0000930667 S000004246 iShares MSCI Australia ETF C000011950 iShares MSCI Australia ETF EWA 0000930667 S000004247 iShares MSCI Hong Kong ETF C000011951 iShares MSCI Hong Kong ETF EWH 0000930667 S000004248 iShares MSCI Italy ETF C000011952 iShares MSCI Italy ETF EWI 0000930667 S000004249 iShares MSCI Japan ETF C000011953 iShares MSCI Japan ETF EWJ 0000930667 S000004250 iShares MSCI Malaysia ETF C000011954 iShares MSCI Malaysia ETF EWM 0000930667 S000004251 iShares MSCI Mexico ETF C000011955 iShares MSCI Mexico ETF EWW 0000930667 S000004252 iShares MSCI Netherlands ETF C000011956 iShares MSCI Netherlands ETF EWN 0000930667 S000004253 iShares MSCI Pacific ex Japan ETF C000011957 iShares MSCI Pacific ex Japan ETF EPP 0000930667 S000004254 iShares MSCI Singapore ETF C000011958 iShares MSCI Singapore ETF EWS 0000930667 S000004255 iShares MSCI South Africa ETF C000011959 iShares MSCI South Africa ETF EZA 0000930667 S000004256 iShares MSCI Spain ETF C000011960 iShares MSCI Spain ETF EWP 0000930667 S000004257 iShares MSCI Austria ETF C000011961 iShares MSCI Austria ETF EWO 0000930667 S000004258 iShares MSCI South Korea ETF C000011962 iShares MSCI South Korea ETF EWY 0000930667 S000004259 iShares MSCI Sweden ETF C000011963 iShares MSCI Sweden ETF EWD 0000930667 S000004260 iShares MSCI Switzerland ETF C000011964 iShares MSCI Switzerland ETF EWL 0000930667 S000004261 iShares MSCI Taiwan ETF C000011965 iShares MSCI Taiwan ETF EWT 0000930667 S000004263 iShares MSCI Belgium ETF C000011967 iShares MSCI Belgium ETF EWK 0000930667 S000004264 iShares MSCI Brazil ETF C000011968 iShares MSCI Brazil ETF EWZ 0000930667 S000004265 iShares MSCI Canada ETF C000011969 iShares MSCI Canada ETF EWC 0000930667 S000004266 iShares MSCI Emerging Markets ETF C000011970 iShares MSCI Emerging Markets ETF EEM 0000930667 S000004267 iShares MSCI France ETF C000011971 iShares MSCI France ETF EWQ 0000930667 S000004268 iShares MSCI Eurozone ETF C000011972 iShares MSCI Eurozone ETF EZU 0000930667 S000004269 iShares MSCI Germany ETF C000011973 iShares MSCI Germany ETF EWG 0000930667 S000018069 iShares MSCI BRIC ETF C000050065 iShares MSCI BRIC ETF BKF 0000930667 S000018070 iShares MSCI Chile ETF C000050066 iShares MSCI Chile ETF ECH 0000930667 S000018072 iShares MSCI Thailand ETF C000050068 iShares MSCI Thailand ETF THD 0000930667 S000018073 iShares MSCI Turkey ETF C000050069 iShares MSCI Turkey ETF TUR 0000930667 S000019125 iShares MSCI Emerging Markets Small-Cap ETF C000052897 iShares MSCI Emerging Markets Small-Cap ETF EEMS 0000930667 S000019126 iShares MSCI Japan Small-Cap ETF C000052898 iShares MSCI Japan Small-Cap ETF SCJ 0000930667 S000021462 iShares MSCI Israel ETF C000061365 iShares MSCI Israel ETF EIS 0000930667 S000028709 iShares MSCI USA Equal Weighted ETF C000087836 iShares MSCI USA Equal Weighted ETF EUSA 0000930667 S000032497 iShares Edge MSCI Min Vol Emerging Markets ETF C000100212 iShares Edge MSCI Min Vol Emerging Markets ETF EEMV 0000930667 S000032498 iShares Edge MSCI Min Vol Global ETF C000100213 iShares Edge MSCI Min Vol Global ETF ACWV 0000930667 S000034697 iShares MSCI Emerging Markets Asia ETF C000106873 iShares MSCI Emerging Markets Asia ETF EEMA 0000930667 S000035395 iShares MSCI World ETF C000108746 iShares MSCI World ETF URTH 0000930667 S000035880 iShares MSCI Global Silver Miners ETF C000109983 iShares MSCI Global Silver Miners ETF SLVP 0000930667 S000035882 iShares MSCI Global Gold Miners ETF C000109985 iShares MSCI Global Gold Miners ETF RING 0000930667 S000035883 iShares MSCI Global Agriculture Producers ETF C000109986 iShares MSCI Global Agriculture Producers ETF VEGI 0000930667 S000035884 iShares MSCI Global Energy Producers ETF C000109987 iShares MSCI Global Energy Producers ETF FILL 0000930667 S000035885 iShares MSCI Global Metals & Mining Producers ETF C000109988 iShares MSCI Global Metals & Mining Producers ETF PICK 0000930667 S000036005 iShares MSCI Frontier 100 ETF C000110342 iShares MSCI Frontier 100 ETF FM 0000930667 S000038923 iShares Core MSCI Emerging Markets ETF C000119708 iShares Core MSCI Emerging Markets ETF IEMG 0000930667 S000040976 iShares MSCI Colombia ETF C000127144 iShares MSCI Colombia ETF ICOL 0000930667 S000045639 iShares Currency Hedged MSCI Emerging Markets ETF C000141922 iShares Currency Hedged MSCI Emerging Markets ETF HEEM 0000930667 S000047227 iShares MSCI Russia ETF C000147985 iShares MSCI Russia ETF ERUS 0000930667 S000049021 iShares Edge MSCI Multifactor Emerging Markets ETF C000154544 iShares Edge MSCI Multifactor Emerging Markets ETF EMGF 0000930667 S000051285 iShares Edge MSCI Min Vol EM Currency Hedged ETF C000161697 iShares Edge MSCI Min Vol EM Currency Hedged ETF HEMV 0000930667 S000054183 iShares MSCI EM ESG Optimized ETF C000170244 iShares MSCI EM ESG Optimized ETF ESGE 0000930667 S000057835 iShares MSCI Emerging Markets ex China ETF C000186806 iShares MSCI Emerging Markets ex China ETF EMXC N-Q 1 d910359dnq.htm FORM N-Q - ISHARES INC Form N-Q - iShares Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-09102

 

 

iShares, Inc.

(Exact name of registrant as specified in charter)

 

 

c/o: State Street Bank and Trust Company

100 Summer Street, 4th Floor, Boston, MA 02110

(Address of principal executive offices) (Zip code)

 

 

The Corporation Trust Incorporated

351 West Camden Street, Baltimore, MD 21201

(Name and address of agent for service)

 

 

Registrant’s telephone number, including area code: (415) 670-2000

Date of fiscal year end: August 31, 2018

Date of reporting period: May 31, 2018

 

 

 

Item 1. Schedules of Investments.

 

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Brazil — 3.9%
AES Tiete Energia SA, NVS
     1,260,000 $      3,373,263
Aliansce Shopping Centers SA
       934,000       3,804,670
Alupar Investimento SA, Units, NVS
     1,486,024       6,232,917
Ambev SA
    36,303,999     191,948,481
Arezzo Industria e Comercio SA
       475,712       5,460,906
Atacadao Distribuicao Comercio e Industria Ltda
     2,933,900      12,565,810
B2W Cia. Digital(a)
     1,605,174      10,926,588
B3 SA - Brasil, Bolsa, Balcao
 16,453,228 96,182,053
Banco Bradesco SA
 8,166,524 57,191,216
Banco do Brasil SA
 6,765,513 55,173,435
Banco Santander Brasil SA, NVS
 3,315,063 30,070,173
BB Seguridade Participacoes SA
 5,402,743 37,807,087
BR Malls Participacoes SA
 6,596,865 18,245,649
BR Properties SA
 1,013,600 2,082,153
BRF SA(a)
 4,046,958 23,277,303
CCR SA
 9,791,187 27,080,524
Centrais Eletricas Brasileiras SA(a)
 1,828,000 7,181,332
Cia. de Saneamento Basico do Estado de Sao Paulo
 2,734,228 19,199,544
Cia. de Saneamento de Minas Gerais-COPASA
 604,400 7,011,206
Cia. Hering
 1,061,674 4,840,758
Cia. Siderurgica Nacional SA(a)
 5,117,956 10,582,098
Cielo SA
 9,633,618 43,847,377
Cosan SA Industria e Comercio
 1,375,877 14,334,939
CVC Brasil Operadora e Agencia de Viagens SA
 1,106,540 15,153,808
Cyrela Brazil Realty SA Empreendimentos e Participacoes
 2,106,700 6,613,048
Duratex SA
 2,758,908 7,223,145
EcoRodovias Infraestrutura e Logistica SA
 2,044,200 4,336,456
EDP - Energias do Brasil SA
 2,448,200 8,690,862
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA
 968,705 9,104,248
Embraer SA
 5,431,883 32,803,815
Engie Brasil Energia SA
 1,053,900 10,468,109
Equatorial Energia SA
 1,633,376 26,662,619
Estacio Participacoes SA
 2,254,024 15,222,326
Ez Tec Empreendimentos e Participacoes SA
 615,823 2,974,895
Fibria Celulose SA
 2,011,600 38,232,851
Fleury SA
 1,433,614 9,462,341
Gafisa SA(a)
 1 3
Hypera SA
 2,696,100 20,415,950
Iguatemi Empresa de Shopping Centers SA
 751,400 6,339,600
Instituto Hermes Pardini SA
 394,074 2,100,501
Iochpe Maxion SA
 862,828 5,511,923
IRB Brasil Resseguros S/A
 469,615 6,080,701
JBS SA
 7,379,561 17,695,649
JSL SA(a)
 221,213 316,014
Klabin SA, NVS
 5,421,624 30,558,099
Kroton Educacional SA
 11,083,415 32,172,424
Light SA
 842,500 2,793,968
Linx SA
 1,038,300 5,297,378
Localiza Rent a Car SA
 4,159,684 27,622,880
Lojas Renner SA
 5,848,960 46,599,440
M. Dias Branco SA
 902,704 10,180,736
Magazine Luiza SA
 630,821 18,365,385
Magnesita Refratarios SA
 455,844 8,248,903
Marfrig Global Foods SA(a)
 2,201,013 4,675,021
Minerva SA
 1,304,000 2,479,107
 Security Shares Value
Brazil (continued)
MRV Engenharia e Participacoes SA
     2,416,592 $      8,740,885
Multiplan Empreendimentos Imobiliarios SA
       621,011       9,783,627
Multiplus SA
       485,600       3,390,287
Natura Cosmeticos SA
     1,539,817      13,942,517
Odontoprev SA
     2,323,600       8,710,263
Petrobras Distribuidora SA
     2,488,912      12,163,692
Petroleo Brasileiro SA
    23,784,279     141,720,211
Porto Seguro SA
       982,198      11,211,782
Qualicorp SA
 1,980,000 10,128,489
Raia Drogasil SA
 1,864,357 31,173,994
Rumo SA(a)
 9,018,081 33,442,005
Sao Martinho SA
 1,682,711 7,916,407
SLC Agricola SA
 660,389 8,033,088
Smiles Fidelidade SA
 559,200 8,749,771
Sonae Sierra Brasil SA
 403,043 2,280,344
Sul America SA, NVS
 1,661,832 8,737,442
Suzano Papel e Celulose SA
 3,544,754 41,024,932
TIM Participacoes SA
 7,022,400 25,287,089
TOTVS SA
 825,000 6,214,001
Transmissora Alianca de Energia Eletrica SA, NVS
 1,504,400 7,772,360
Ultrapar Participacoes SA
 2,740,180 36,790,322
Vale SA
 25,141,883 341,814,298
Via Varejo SA
 1,192,835 7,479,142
WEG SA
 6,042,059 27,873,571
    1,937,202,206
Chile — 1.0%
AES Gener SA
 24,950,311 6,510,666
Aguas Andinas SA, Class A
 20,453,624 11,865,508
Banco de Chile
 210,534,723 32,646,856
Banco de Credito e Inversiones SA
 351,490 24,723,074
Banco Santander Chile
 522,598,745 41,904,532
CAP SA
 658,056 6,848,766
Cencosud SA
 10,850,497 28,745,018
Cia. Cervecerias Unidas SA
 1,213,437 15,433,999
Cia. Sud Americana de Vapores SA(a)
 146,425,449 5,642,224
Colbun SA
 66,988,232 15,093,072
Empresa Nacional de Telecomunicaciones SA
 1,193,708 12,755,260
Empresas CMPC SA
 9,691,501 36,669,259
Empresas COPEC SA
 3,341,084 50,950,520
Enel Americas SA
 230,766,214 44,584,881
Enel Chile SA
 239,002,698 25,801,008
Engie Energia Chile SA
 4,240,515 8,511,038
Inversiones Aguas Metropolitanas SA
 4,048,982 6,622,186
Inversiones La Construccion SA
 452,307 7,905,249
Itau CorpBanca
 1,177,213,735 12,128,750
Latam Airlines Group SA
 2,404,626 28,958,753
Parque Arauco SA
 5,251,891 15,167,889
SACI Falabella
 5,419,834 50,677,441
Salfacorp SA
 5,372,491 9,462,980
SONDA SA
 3,728,467 6,082,631
Vina Concha y Toro SA
 3,895,993 8,319,766
    514,011,326
China — 30.8%
21Vianet Group Inc., GDR(a)
 736,262 6,088,887
361 Degrees International Ltd.
 9,186,000 2,892,528
3SBio Inc.(a)(b)(c)
 10,187,000 29,155,249
51job Inc., ADR(a)
 239,203 25,451,199
58.com Inc., ADR(a)
 743,516 60,388,370
AAC Technologies Holdings Inc.
 5,828,000 87,745,237
 
 
1
  

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
Agile Group Holdings Ltd.
    13,338,500 $     25,438,570
Agricultural Bank of China Ltd., Class A
     9,022,173       5,056,569
Agricultural Bank of China Ltd., Class H
   230,027,000     119,058,103
AGTech Holdings Ltd.(a)(c)
    28,032,000       3,287,729
Air China Ltd., Class H
    14,840,000      17,196,968
Ajisen China Holdings Ltd.(c)
     9,636,000       3,918,696
Alibaba Group Holding Ltd., ADR(a)(c)
     9,141,308   1,810,070,396
Alibaba Health Information Technology Ltd.(a)(c)
    32,438,000      29,732,886
Alibaba Pictures Group Ltd.(a)(c)
 131,270,000 17,069,459
Aluminum Corp. of China Ltd., Class H(a)(c)
 32,690,000 17,211,514
Anhui Conch Cement Co. Ltd., Class H
 10,032,500 61,518,871
ANTA Sports Products Ltd.(c)
 8,959,000 51,624,051
APT Satellite Holdings Ltd.
 7,053,500 3,165,202
Asia Cement China Holdings Corp.
 6,668,500 4,038,089
Autohome Inc., ADR(c)
 473,347 53,355,674
AVIC International Holding HK Ltd.(a)(c)
 53,722,000 2,157,331
AviChina Industry & Technology Co. Ltd., Class H
 18,715,000 12,501,877
BAIC Motor Corp. Ltd., Class H(b)
 13,000,000 12,628,519
Baidu Inc., ADR(a)(c)
 2,186,700 530,405,952
Bank of Beijing Co. Ltd., Class A
 2,827,600 2,922,310
Bank of China Ltd., Class H
 622,721,000 325,485,374
Bank of Communications Co. Ltd., Class A
 3,054,000 2,870,225
Bank of Communications Co. Ltd., Class H
 70,408,000 55,740,097
Baoshan Iron & Steel Co. Ltd., Class A
 1,819,567 2,391,831
Baozun Inc., ADR(a)(c)
 307,551 18,855,952
Beijing Capital International Airport Co. Ltd., Class H
 13,212,000 19,538,025
Beijing Capital Land Ltd., Class H
 10,372,000 5,368,373
Beijing Enterprises Holdings Ltd.
 3,966,000 21,917,748
Beijing Enterprises Medical & Health Group Ltd.(a)(c)
 79,032,000 4,231,617
Beijing Enterprises Water Group Ltd.(c)
 47,676,000 28,748,492
Beijing Tong Ren Tang Chinese Medicine Co. Ltd.
 3,952,000 8,383,481
Bitauto Holdings Ltd., ADR(a)(c)
 234,862 5,855,110
BOC Aviation Ltd.(b)
 529,000 3,284,269
BOE Technology Group Co. Ltd., Class A
 4,936,500 3,175,168
Bosideng International Holdings Ltd.
 48,658,000 5,458,723
Brilliance China Automotive Holdings Ltd.(c)
 24,526,000 45,836,854
BYD Co. Ltd., Class H(c)
 5,232,500 33,953,233
BYD Electronic International Co. Ltd.(c)
 5,958,000 9,463,955
C C Land Holdings Ltd.
 24,285,500 5,541,843
CGN Power Co. Ltd., Class H(b)
 91,376,000 25,977,127
Changyou.com Ltd., ADR
 140,367 2,629,074
Chaowei Power Holdings Ltd.(c)
 8,243,000 4,791,861
China Aerospace International Holdings Ltd.(c)
 40,756,000 4,364,404
China Agri-Industries Holdings Ltd.
 20,949,200 8,893,358
China Aircraft Leasing Group Holdings Ltd.(c)
 4,317,500 4,568,404
China Animal Healthcare Ltd.(a)(c)(d)
 1,237,000 12,616
China Aoyuan Property Group Ltd.(c)
 15,216,000 12,414,653
China BlueChemical Ltd., Class H
 18,346,000 6,127,690
China Cinda Asset Management Co. Ltd., Class H
 72,129,000 26,114,539
China CITIC Bank Corp. Ltd., Class H
 71,598,000 48,649,929
China Communications Construction Co. Ltd., Class H
 36,321,000 38,987,375
China Communications Services Corp. Ltd., Class H
 21,214,000 13,657,401
China Conch Venture Holdings Ltd.
 13,905,500 48,218,048
China Construction Bank Corp., Class H
 756,546,000 763,861,517
China Datang Corp. Renewable Power Co. Ltd., Class H
 31,366,000 6,557,784
China Dongxiang Group Co. Ltd.
 37,996,000 7,217,358
 Security Shares Value
China (continued)
China Everbright Bank Co. Ltd., Class A
     4,201,709 $      2,604,155
China Everbright Bank Co. Ltd., Class H
    20,810,000      10,372,966
China Everbright International Ltd.
    20,993,000      31,365,790
China Everbright Ltd.
     7,890,000      17,340,770
China Everbright Water Ltd.(c)
    10,475,600       3,289,657
China Evergrande Group(a)(c)
    23,105,000      67,746,665
China Fiber Optic Network System Group Ltd.(a)(d)
    10,394,800         609,577
China First Capital Group Ltd.(a)
    25,376,000      25,427,275
China Foods Ltd.(c)
 10,588,000 5,318,195
China Galaxy Securities Co. Ltd., Class H
 28,333,000 17,734,876
China Gas Holdings Ltd.(c)
 14,243,400 59,104,259
China Huarong Asset Management Co. Ltd., Class H(b)
 81,224,000 27,336,469
China Huishan Dairy Holdings Co. Ltd.(a)(d)
 24,638,800 31
China Huiyuan Juice Group Ltd.(a)(c)
 10,877,000 2,801,010
China Innovationpay Group Ltd.(a)(c)
 78,440,000 9,399,820
China International Capital Corp. Ltd., Class H(b)
 5,808,800 12,248,306
China International Travel Service Corp. Ltd., Class A
 121,809 1,286,464
China Investment Fund International Holdings Co. Ltd.(a)
 4,240,000 4,329,647
China Jinmao Holdings Group Ltd.
 41,682,000 23,805,685
China Lesso Group Holdings Ltd.(c)
 352,000 248,154
China Life Insurance Co. Ltd., Class H
 58,555,000 163,479,090
China Lilang Ltd.
 6,576,000 9,892,315
China Literature Ltd.(a)(b)
 934,400 8,725,585
China Lodging Group Ltd., ADR
 1,042,000 45,858,420
China Logistics Property Holdings Co. Ltd.(a)(b)(c)
 9,880,000 3,551,895
China Longyuan Power Group Corp. Ltd., Class H
 25,694,000 23,715,069
China Lumena New Materials Corp.(a)(c)(d)
 2,584,000 3
China Maple Leaf Educational Systems Ltd.(c)
 7,322,000 13,945,511
China Medical System Holdings Ltd.
 11,366,000 27,385,682
China Mengniu Dairy Co. Ltd.
 22,477,000 81,665,254
China Merchants Bank Co. Ltd., Class A
 1,154,592 5,187,638
China Merchants Bank Co. Ltd., Class H
 31,066,964 127,925,006
China Merchants Land Ltd.(c)
 22,214,000 4,361,156
China Merchants Port Holdings Co. Ltd.
 10,988,270 25,074,741
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A
 795,379 2,631,210
China Metal Recycling Holdings Ltd., NVS(a)(d)
 62,400 —
China Minsheng Banking Corp. Ltd., Class H
 41,004,100 39,100,561
China Mobile Ltd.
 48,623,000 433,904,247
China Molybdenum Co. Ltd., Class H(c)
 31,689,000 20,077,935
China National Building Material Co. Ltd., Class H
 32,568,850 37,284,890
China Oil & Gas Group Ltd.
 63,488,000 5,018,078
China Oilfield Services Ltd., Class H
 15,794,000 16,510,495
China Overseas Grand Oceans Group Ltd.
 13,233,500 5,752,852
China Overseas Land & Investment Ltd.
 30,182,000 101,002,339
China Pacific Insurance Group Co. Ltd., Class A
 563,745 2,928,100
China Pacific Insurance Group Co. Ltd., Class H
 20,804,200 89,909,344
China Petroleum & Chemical Corp., Class A
 2,286,980 2,517,108
China Petroleum & Chemical Corp., Class H
 201,304,200 196,834,993
China Power Clean Energy Development Co. Ltd.(c)
 5,381,000 2,970,332
China Power International Development Ltd.
 38,974,000 10,831,425
China Railway Construction Corp. Ltd., Class H
 16,167,000 18,322,524
China Railway Group Ltd., Class H
 31,711,000 25,589,851
China Reinsurance Group Corp., Class H
 13,700,000 3,073,883
China Resources Beer Holdings Co. Ltd.
 12,598,000 61,190,033
China Resources Cement Holdings Ltd.
 10,900,000 12,839,632
China Resources Gas Group Ltd.
 7,102,000 26,980,565
 
 
  
2

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
China Resources Land Ltd.
    21,961,777 $     80,633,233
China Resources Pharmaceutical Group Ltd.(b)
    14,212,000      21,814,024
China Resources Phoenix Healthcare Holdings Co. Ltd.(c)
     7,328,500       9,380,002
China Resources Power Holdings Co. Ltd.
    15,056,000      30,825,438
China SCE Property Holdings Ltd.
    16,974,200       8,958,675
China Shenhua Energy Co. Ltd., Class H
    26,910,500      70,328,238
China Shineway Pharmaceutical Group Ltd.(c)
     3,865,000       8,415,724
China Singyes Solar Technologies Holdings Ltd.(c)
     8,524,000       3,194,809
China Southern Airlines Co. Ltd., Class H
 15,342,000 15,177,415
China State Construction Engineering Corp. Ltd., Class A
 2,788,178 3,582,372
China State Construction International Holdings Ltd.
 16,950,000 20,938,598
China Suntien Green Energy Corp. Ltd., Class H
 20,945,000 7,342,892
China Taiping Insurance Holdings Co. Ltd.
 13,326,308 47,823,610
China Telecom Corp. Ltd., Class H
 108,422,000 50,588,594
China Traditional Chinese Medicine Holdings Co. Ltd.
 19,512,000 17,909,703
China Travel International Investment Hong Kong Ltd.
 23,850,000 10,580,879
China Unicom Hong Kong Ltd.
 47,906,000 65,103,033
China Vanke Co. Ltd., Class A
 748,100 2,988,686
China Vanke Co. Ltd., Class H
 9,731,887 34,800,384
China Water Affairs Group Ltd.
 9,904,000 9,747,249
China Yangtze Power Co. Ltd., Class A
 1,373,195 3,668,027
China Yuhua Education Corp Ltd., Class L(b)(c)
 10,774,000 7,897,669
China ZhengTong Auto Services Holdings Ltd.(c)
 9,268,500 7,999,305
Chinasoft International Ltd.(c)
 18,830,000 15,843,399
Chong Sing Holdings FinTech Group Ltd.(a)(c)
 148,680,000 19,712,423
Chongqing Rural Commercial Bank Co. Ltd., Class H
 19,290,000 12,885,985
CIFI Holdings Group Co. Ltd.
 28,402,000 21,978,180
CIMC Enric Holdings Ltd.
 6,934,000 8,185,570
CITIC Ltd.
 45,438,000 67,541,681
CITIC Resources Holdings Ltd.(c)
 33,378,000 3,872,182
CITIC Securities Co. Ltd., Class A
 1,501,963 4,370,745
CITIC Securities Co. Ltd., Class H
 17,440,000 43,977,129
CNOOC Ltd.
 141,903,000 238,791,915
Colour Life Services Group Co. Ltd.(c)
 5,909,000 5,762,747
Comba Telecom Systems Holdings Ltd.(c)
 22,837,524 3,668,375
Concord New Energy Group Ltd.
 102,950,000 4,856,039
Coolpad Group Ltd.(a)(c)(d)
 22,836,000 174,673
COSCO SHIPPING Holdings Co. Ltd., Class H(a)
 10,864,000 6,107,767
COSCO SHIPPING International Hong Kong Co. Ltd.(c)
 9,832,000 4,111,212
COSCO SHIPPING Ports Ltd.(c)
 15,070,000 14,504,886
Country Garden Holdings Co. Ltd.
 60,101,733 117,841,277
CPMC Holdings Ltd.(c)
 5,186,000 3,292,426
CRRC Corp. Ltd., Class A
 2,676,521 3,827,511
CRRC Corp. Ltd., Class H
 31,504,750 28,154,522
CSPC Pharmaceutical Group Ltd.
 37,604,000 117,690,024
CT Environmental Group Ltd.(c)
 28,198,000 3,990,207
Ctrip.com International Ltd., ADR(a)(c)
 3,107,971 140,138,412
Dah Chong Hong Holdings Ltd.(c)
 11,020,000 5,928,545
Dali Foods Group Co. Ltd.(b)
 7,943,000 6,126,241
Daqin Railway Co. Ltd., Class A
 2,228,758 2,922,756
Dawnrays Pharmaceutical Holdings Ltd.
 6,769,000 4,185,240
Dazhong Transportation Group Co. Ltd., Class B
 3,955,943 1,894,897
Digital China Holdings Ltd.(a)(c)
 8,543,000 5,576,150
Dongfeng Motor Group Co. Ltd., Class H
 22,186,000 25,313,731
 Security Shares Value
China (continued)
Dongjiang Environmental Co. Ltd., Class H
       603,300 $        887,551
Eastern Communications Co. Ltd., Class B
     3,992,749       2,303,816
ENN Energy Holdings Ltd.
     6,202,000      63,845,222
Fang Holdings Ltd., ADR(a)
     2,091,244      10,602,607
Fantasia Holdings Group Co. Ltd.(c)
    33,733,500       6,106,662
Far East Horizon Ltd.
    18,152,000      19,276,296
FDG Electric Vehicles Ltd.(a)(c)
   230,325,000       4,580,573
First Tractor Co. Ltd., Class H
     7,560,000       2,602,194
Focus Media Information Technology Co. Ltd., Class A
 1,448,395 2,824,228
Foshan Haitian Flavouring & Food Co. Ltd., Class A
 361,675 4,231,385
Fosun International Ltd.
 20,937,500 46,016,777
Fu Shou Yuan International Group Ltd.
 10,786,000 12,017,827
Fufeng Group Ltd.(c)
 15,051,400 8,519,497
Fullshare Holdings Ltd.(c)
 53,290,000 25,136,312
Future Land Development Holdings Ltd.
 14,904,000 11,685,090
Fuyao Glass Industry Group Co. Ltd., Class H(b)
 4,304,400 15,940,901
GCL New Energy Holdings Ltd.(a)(c)
 75,350,000 4,082,501
GCL-Poly Energy Holdings Ltd.(a)
 111,320,000 12,204,662
GDS Holdings Ltd., ADR(a)(c)
 539,189 20,386,736
Geely Automobile Holdings Ltd.
 39,533,000 112,135,700
Genscript Biotech Corp.(c)
 6,430,000 24,017,771
GF Securities Co. Ltd., Class H
 10,594,000 17,881,422
Glorious Property Holdings Ltd.(a)(c)
 31,861,000 2,274,582
GOME Retail Holdings Ltd.(a)(c)
 106,601,000 11,959,088
Great Wall Motor Co. Ltd., Class H
 25,569,000 24,936,144
Greatview Aseptic Packaging Co. Ltd.
 13,416,000 10,039,573
Gree Electric Appliances Inc. of Zhuhai, Class A
 392,100 2,907,641
Greentown China Holdings Ltd.(c)
 6,978,000 10,497,046
Guangdong Investment Ltd.
 23,348,000 39,349,140
Guangdong Land Holdings Ltd.(a)
 10,092,000 2,573,128
Guangzhou Automobile Group Co. Ltd., Class H
 17,128,000 29,041,056
Guangzhou R&F Properties Co. Ltd., Class H
 7,991,200 18,744,935
Guotai Junan Securities Co. Ltd., Class A(a)
 3,030,657 7,943,974
Guotai Junan Securities Co. Ltd., Class H(a)(b)
 1,858,200 4,320,872
Haier Electronics Group Co. Ltd.
 10,549,000 37,924,033
Haitian International Holdings Ltd.
 5,975,000 16,948,140
Haitong Securities Co. Ltd., Class H
 25,859,600 32,373,332
Hanergy Thin Film Power Group Ltd.(a)(d)
 8,046 —
Hangzhou Hikvision Digital Technology Co. Ltd., Class A
 956,795 5,847,915
Hangzhou Steam Turbine Co. Ltd., Class B
 3,278,101 2,962,939
HC International Inc.(c)
 5,558,500 3,670,637
Hengan International Group Co. Ltd.(c)
 5,920,000 56,376,280
HengTen Networks Group Ltd.(a)(c)
 193,236,000 7,759,839
Hi Sun Technology China Ltd.(a)
 29,712,000 5,492,297
Hua Han Health Industry Holdings Ltd., Class H(a)(c)(d)
 22,424,288 1,286,427
Hua Hong Semiconductor Ltd.(b)(c)
 3,628,000 8,787,695
Huabao International Holdings Ltd.(c)
 10,075,000 6,653,175
Huaneng Power International Inc., Class H
 33,842,000 26,144,645
Huaneng Renewables Corp. Ltd., Class H
 40,378,000 17,347,177
Huangshi Dongbei Electrical Appliance Co. Ltd., Class B
 1,872,103 2,345,745
Huatai Securities Co. Ltd., Class H(b)
 12,914,000 25,452,145
Huaxia Bank Co. Ltd., Class A
 2,640,852 3,434,309
Hutchison China MediTech Ltd.(a)
 21,620 1,205,407
IGG Inc.(c)
 13,120,000 20,606,235
iKang Healthcare Group Inc., ADR(a)(c)
 544,752 11,102,046
 
 
3
  

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
Industrial & Commercial Bank of China Ltd., Class H
   551,498,000 $    456,994,958
Industrial Bank Co. Ltd., Class A
     1,671,600       4,157,177
Inner Mongolia Yili Industrial Group Co. Ltd., Class A
       830,383       4,022,635
Inner Mongolia Yitai Coal Co. Ltd., Class B
    10,259,003      13,716,287
JA Solar Holdings Co. Ltd., ADR(a)(c)
       522,362       3,781,901
JD.com Inc., ADR(a)(c)
     5,664,152     199,264,867
Jiangsu Expressway Co. Ltd., Class H
    10,690,000      16,135,541
Jiangsu Hengrui Medicine Co. Ltd., Class A
       471,092       5,599,019
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A
 156,282 3,505,546
Jiangxi Copper Co. Ltd., Class H
 10,597,000 15,400,751
Jiayuan International Group Ltd.(a)
 8,928,000 17,118,122
JinkoSolar Holding Co. Ltd., ADR(a)(c)
 286,069 5,040,536
Jumei International Holding Ltd., ADR(a)(c)
 1,033,451 2,686,973
Kaisa Group Holdings Ltd.(a)(c)
 19,401,000 10,536,293
Kama Co. Ltd., Class B(a)
 3,404,200 2,178,688
Kangmei Pharmaceutical Co. Ltd., Class A
 1,415,075 5,911,748
Kingboard Chemical Holdings Ltd.(c)
 5,828,200 23,181,586
Kingboard Laminates Holdings Ltd.
 9,095,500 12,059,076
Kingdee International Software Group Co. Ltd.(c)
 18,062,000 19,825,452
Kingsoft Corp. Ltd.(c)
 6,622,000 20,893,851
Konka Group Co. Ltd., Class B(a)
 8,793,718 3,408,005
KuangChi Science Ltd.(a)(c)
 3,054,000 443,842
Kunlun Energy Co. Ltd.
 27,098,000 24,665,479
Kweichow Moutai Co. Ltd., Class A
 85,536 10,030,311
KWG Property Holdings Ltd.
 10,695,500 14,753,072
Lao Feng Xiang Co. Ltd., Class B
 889,964 2,965,360
Launch Tech Co. Ltd.
 2,356,000 2,823,301
Lee & Man Paper Manufacturing Ltd.
 13,675,000 16,038,704
Lee's Pharmaceutical Holdings Ltd.(c)
 1,972,000 3,222,916
Lenovo Group Ltd.(c)
 61,484,000 32,606,903
Li Ning Co. Ltd.(a)
 14,534,000 17,453,807
Lianhua Supermarket Holdings Co. Ltd., Class H(a)(c)
 6,194,000 1,895,119
Lifetech Scientific Corp.(a)(c)
 25,174,000 9,210,607
Logan Property Holdings Co. Ltd.
 6,822,000 10,262,374
Longfor Properties Co. Ltd.
 12,267,000 36,750,253
Lonking Holdings Ltd.
 19,519,000 9,779,220
Luthai Textile Co. Ltd., Class B
 3,227,221 3,822,069
Luye Pharma Group Ltd.(c)
 11,870,500 13,029,456
Meitu Inc.(a)(b)
 18,368,000 19,458,843
Midea Group Co. Ltd., Class A
 655,000 5,410,401
MIE Holdings Corp.(a)
 5,206,000 235,606
MMG Ltd.(a)
 20,331,999 14,774,373
Momo Inc., ADR(a)
 932,002 42,797,532
NetDragon Websoft Holdings Ltd.(c)
 1,980,500 5,201,112
NetEase Inc., ADR
 625,694 142,858,454
New China Life Insurance Co. Ltd., Class H
 6,618,900 30,039,308
New Oriental Education & Technology Group Inc., ADR
 1,128,049 112,207,034
Nexteer Automotive Group Ltd.
 7,637,000 12,598,278
Nine Dragons Paper Holdings Ltd.
 13,714,000 21,818,899
Noah Holdings Ltd., ADR(a)(c)
 267,253 16,003,110
North Mining Shares Co. Ltd.(a)(c)
 152,120,000 2,462,885
Panda Green Energy Group Ltd.(a)(c)
 56,972,852 6,028,374
Parkson Retail Group Ltd.(a)
 26,302,500 3,789,043
PAX Global Technology Ltd.(c)
 9,464,000 4,826,017
 Security Shares Value
China (continued)
People's Insurance Co. Group of China Ltd. (The), Class H
    54,491,000 $     25,772,277
PetroChina Co. Ltd., Class H
   165,082,000     136,583,592
Phoenix Media Investment Holdings Ltd.
    12,090,000       1,078,893
Phoenix New Media Ltd., ADR(a)
       373,785       2,059,555
PICC Property & Casualty Co. Ltd., Class H
    36,559,360      64,411,103
Ping An Bank Co. Ltd., Class A
     1,441,500       2,290,935
Ping An Insurance Group Co. of China Ltd., Class A
       705,822       6,846,158
Ping An Insurance Group Co. of China Ltd., Class H
    41,230,000     404,197,650
Poly Property Group Co. Ltd.(a)
 18,645,000 8,984,798
Poly Real Estate Group Co. Ltd., Class A
 1,336,161 2,574,093
Postal Savings Bank of China Co. Ltd., Class H(b)
 15,000,000 10,039,329
Pou Sheng International Holdings Ltd.(c)
 21,151,000 3,963,714
Q Technology Group Co. Ltd.(c)
 3,609,000 3,068,788
Qingdao Haier Co. Ltd., Class A
 1,269,393 3,983,295
Renren Inc., ADR(a)(c)
 229,147 2,014,202
Road King Infrastructure Ltd.
 4,405,000 8,513,325
Ronshine China Holdings Ltd.(a)(c)
 3,699,000 5,441,821
SAIC Motor Corp. Ltd., Class A
 579,594 3,280,063
Sany Heavy Equipment International Holdings Co. Ltd.
 16,404,000 5,228,100
Semiconductor Manufacturing International Corp.(a)(c)
 23,815,200 31,149,832
Shandong Airlines Co. Ltd., Class B
 1,763,224 3,182,914
Shandong Chenming Paper Holdings Ltd., Class H
 339,500 506,384
Shandong Weigao Group Medical Polymer Co. Ltd., Class H
 15,240,000 13,114,232
Shang Gong Group Co. Ltd., Class B(a)
 4,236,700 3,427,490
Shanghai Baosight Software Co. Ltd., Class B
 1,003,190 1,640,216
Shanghai Chlor-Alkali Chemical Co. Ltd., Class B(a)
 5,290,647 3,772,231
Shanghai Electric Group Co. Ltd., Class H(a)
 27,362,000 10,464,614
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H
 4,150,000 26,585,098
Shanghai Haixin Group Co., Class B
 5,205,300 2,857,710
Shanghai Industrial Holdings Ltd.
 3,948,000 10,493,909
Shanghai Industrial Urban Development Group Ltd.(c)
 22,268,000 4,797,578
Shanghai Jin Jiang International Hotels Group Co. Ltd., Class H
 392,000 172,908
Shanghai Jinjiang International Industrial Investment Co. Ltd., Class B
 2,000,542 2,324,630
Shanghai Jinjiang International Travel Co. Ltd., Class B
 1,058,800 2,401,358
Shanghai Lingyun Industries Development Co. Ltd., Class B(a)
 2,092,215 1,464,551
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B
 7,811,253 11,638,767
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
 7,097,900 21,942,986
Shanghai Pudong Development Bank Co. Ltd., Class A
 2,153,287 3,546,539
Shanghai Shibei Hi-Tech Co. Ltd., Class B
 2,754,218 1,079,653
Shenzhen International Holdings Ltd.
 8,549,250 18,702,489
Shenzhen Investment Ltd.
 28,496,000 12,097,127
Shenzhou International Group Holdings Ltd.
 6,021,000 70,463,696
Shimao Property Holdings Ltd.
 9,789,000 28,952,124
Shougang Concord International Enterprises Co. Ltd.(a)(c)
 221,544,000 6,354,723
Shougang Fushan Resources Group Ltd.
 25,010,000 6,281,076
Shui On Land Ltd.
 34,200,166 9,591,908
 
 
  
4

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
Sihuan Pharmaceutical Holdings Group Ltd.
    36,457,000 $      9,434,765
SINA Corp./China(a)
       513,789      46,662,317
Sino Biopharmaceutical Ltd.
    36,560,000      92,470,236
Sino Oil And Gas Holdings Ltd.(a)
    18,435,000          96,357
Sinofert Holdings Ltd.(a)(c)
    31,546,000       4,262,891
Sinolink Worldwide Holdings Ltd.(a)(c)
    28,346,000       3,649,785
Sino-Ocean Group Holding Ltd.
    25,466,500      17,206,766
Sinopec Engineering Group Co. Ltd., Class H
     3,382,000       3,634,589
Sinopec Kantons Holdings Ltd.(c)
 11,160,000 5,989,636
Sinopec Shanghai Petrochemical Co. Ltd., Class H
 28,839,000 21,286,922
Sinopharm Group Co. Ltd., Class H
 9,522,000 42,304,354
Sinosoft Technology Group Ltd.(c)
 8,925,600 4,119,079
Sinotrans Ltd., Class H
 19,437,000 11,026,644
Sinotrans Shipping Ltd.(c)
 18,889,000 5,177,279
Sinotruk Hong Kong Ltd.
 5,651,000 7,996,545
Skyfame Realty Holdings Ltd.(a)
 11,840,000 8,830,020
Skyworth Digital Holdings Ltd.
 18,304,000 8,703,801
SMI Holdings Group Ltd.(c)
 14,747,999 6,524,041
SOHO China Ltd.
 18,081,500 9,450,884
Sohu.com Inc.(a)
 269,059 9,756,079
SSY Group Ltd.
 18,616,411 19,911,869
Sun Art Retail Group Ltd.
 20,248,000 23,851,089
Sunac China Holdings Ltd.(c)
 19,373,000 73,721,697
Suning.com Co. Ltd., Class A
 2,571,297 6,531,157
Sunny Optical Technology Group Co. Ltd.
 5,684,300 115,654,887
Superb Summit International Group Ltd.(a)(c)(d)
 6,035,000 11,233
TAL Education Group, Class A, ADR(a)
 2,628,935 111,624,580
Tarena International Inc., ADR
 396,805 3,813,296
TCL Multimedia Technology Holdings Ltd.(c)
 7,629,000 3,773,579
Tencent Holdings Ltd.
 44,980,900 2,289,142,263
Tian Ge Interactive Holdings Ltd.(b)(c)
 5,711,000 5,096,409
Tianjin Development Holdings Ltd.
 8,706,000 3,895,650
Tianjin Port Development Holdings Ltd.
 35,306,000 5,041,046
Tianneng Power International Ltd.
 6,706,000 10,412,738
Tibet Water Resources Ltd.(a)(c)
 20,982,000 9,014,277
Tingyi Cayman Islands Holding Corp.(c)
 16,298,000 36,484,881
Tong Ren Tang Technologies Co. Ltd., Class H
 5,627,000 9,784,652
Tongada Hong Tai Holdings Ltd.(a)
 4,500 809
Tongda Group Holdings Ltd.(c)
 30,090,000 7,173,282
Towngas China Co. Ltd.
 10,761,000 10,563,248
TravelSky Technology Ltd., Class H
 7,750,000 22,674,541
Truly International Holdings Ltd.(c)
 30,788,000 6,436,940
Tsingtao Brewery Co. Ltd., Class H
 3,006,000 19,045,811
Tuniu Corp., ADR(a)(c)
 383,913 2,599,091
Uni-President China Holdings Ltd.
 5,717,000 6,158,558
Universal Medical Financial & Technical Advisory Services Co. Ltd.(b)(c)
 6,935,500 6,312,917
Vinda International Holdings Ltd.(c)
 2,446,000 4,384,256
Vipshop Holdings Ltd., ADR(a)
 3,417,856 39,920,558
Viva China Holdings Ltd.(a)(c)
 29,192,000 3,535,424
Want Want China Holdings Ltd.(c)
 41,843,000 41,500,805
Wasion Group Holdings Ltd.
 5,334,000 3,121,187
Weibo Corp., ADR(a)(c)
 378,182 38,540,528
Weichai Power Co. Ltd., Class H
 16,584,000 22,241,247
West China Cement Ltd.
 30,512,000 5,717,973
Wuliangye Yibin Co. Ltd., Class A
 372,494 4,592,898
Wuxi Biologics Cayman Inc.(a)(b)
 3,849,500 43,161,276
Xiamen International Port Co. Ltd., Class H
 20,212,000 3,736,211
Xingda International Holdings Ltd.
 11,723,000 4,199,516
Xinyi Solar Holdings Ltd.
 27,414,800 11,358,541
 Security Shares Value
China (continued)
Xtep International Holdings Ltd.
    10,520,000 $      6,692,223
Xunlei Ltd., ADR(a)
       270,496       3,346,036
Yanzhou Coal Mining Co. Ltd., Class H
    15,402,000      22,226,837
YiChang HEC ChangJiang Pharmaceutical Co. Ltd., Class H(b)(c)
     1,236,400       6,777,688
Yuexiu Property Co. Ltd.
    61,128,880      13,793,479
Yuexiu REIT
    15,112,000      10,576,657
Yuexiu Transport Infrastructure Ltd.(c)
     9,950,000       7,839,090
Yum China Holdings Inc.(c)
     2,975,246     116,927,168
Yunnan Baiyao Group Co. Ltd., Class A
 163,205 2,907,164
Yuzhou Properties Co. Ltd.
 15,640,400 11,006,292
YY Inc., ADR(a)
 371,740 43,318,862
Zhaojin Mining Industry Co. Ltd., Class H
 10,488,000 8,757,660
Zhejiang Expressway Co. Ltd., Class H
 13,162,000 13,171,816
Zhongsheng Group Holdings Ltd.
 5,024,000 16,108,004
Zhuzhou CRRC Times Electric Co. Ltd., Class H
 4,467,500 22,496,542
Zijin Mining Group Co. Ltd., Class H
 48,312,000 20,139,880
ZTE Corp., Class H(a)(c)(d)
 5,908,640 14,311,833
    15,168,890,659
Colombia — 0.3%
Almacenes Exito SA
 1,587,019 9,067,094
Bancolombia SA
 1,544,573 17,713,355
Cementos Argos SA
 3,795,499 12,090,904
Corp. Financiera Colombiana SA
 1,028,970 8,957,154
Ecopetrol SA
 40,218,237 43,031,211
Grupo Argos SA/Colombia
 2,269,304 15,259,629
Grupo de Inversiones Suramericana SA
 2,072,109 26,633,155
Interconexion Electrica SA ESP
 3,276,783 16,066,194
    148,818,696
Czech Republic — 0.2%
CEZ AS
 1,343,005 33,548,863
Komercni Banka AS
 692,459 28,021,088
Moneta Money Bank AS(b)
 5,211,050 18,189,067
    79,759,018
Egypt — 0.2%
Commercial International Bank Egypt SAE
 8,215,625 38,674,728
Eastern Tobacco
 389,021 3,841,732
Egyptian Financial Group-Hermes Holding Co.
 8,610,473 11,023,523
Ezz Steel(a)
 3,583,907 5,171,080
Global Telecom Holding SAE(a)
 33,883,136 9,221,060
Heliopolis Housing
 1,509,274 2,596,002
Medinet Nasr Housing
 5,265,074 3,127,563
Oriental Weavers
 1,387,289 1,087,659
Six of October Development & Investment(a)
 4,079,580 5,674,252
Telecom Egypt Co.
 4,834,474 3,974,021
    84,391,620
Greece — 0.3%
Alpha Bank AE(a)
 12,439,655 26,587,596
Athens Water Supply & Sewage Co. SA
 325,101 2,136,531
Eurobank Ergasias SA(a)
 14,631,453 15,371,362
FF Group(a)
 343,633 1,925,389
Hellenic Exchanges-Athens Stock Exchange SA
 784,444 4,541,779
Hellenic Telecommunications Organization SA
 2,120,955 25,376,850
Holding Co. ADMIE IPTO SA(a)
 1,240,388 2,406,417
JUMBO SA
 895,411 14,361,227
Motor Oil Hellas Corinth Refineries SA
 543,696 11,004,938
Mytilineos Holdings SA(a)
 965,414 10,232,502
National Bank of Greece SA(a)(c)
 48,269,259 15,179,260
OPAP SA
 2,118,003 22,745,568
 
 
5
  

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Greece (continued)
Piraeus Bank SA(a)(c)
     2,310,295 $      6,833,708
Piraeus Port Authority SA
        51,776         985,141
Public Power Corp. SA(a)(c)
     1,280,378       3,004,116
Titan Cement Co. SA
       397,137      9,735,136
    172,427,520
Hungary — 0.2%
Magyar Telekom Telecommunications PLC
     3,445,200       5,220,628
MOL Hungarian Oil & Gas PLC
     2,978,021      28,033,084
OTP Bank Nyrt
 1,767,123 63,234,352
Richter Gedeon Nyrt
 1,114,500 21,771,787
    118,259,851
India — 9.1%
Adani Enterprises Ltd.
 2,405,824 4,313,781
Adani Green Energy Ltd.(a)
 1,985,886 244,396
Adani Ports & Special Economic Zone Ltd.
 5,584,272 32,450,965
Adani Power Ltd.(a)
 10,752,055 3,210,520
AIA Engineering Ltd.
 414,048 9,462,683
Ajanta Pharma Ltd.(a)
 330,773 4,717,066
Amara Raja Batteries Ltd.
 437,196 5,172,884
Ambuja Cements Ltd.
 5,642,294 17,173,744
Apollo Hospitals Enterprise Ltd.
 718,233 10,114,811
Apollo Tyres Ltd.
 2,512,627 10,027,051
Arvind Ltd.
 1,317,419 7,577,612
Ashok Leyland Ltd.
 10,651,762 23,368,923
Asian Paints Ltd.
 2,411,377 46,619,538
Aurobindo Pharma Ltd.
 2,401,092 19,793,687
Avanti Feeds Ltd.
 125,292 3,031,646
Avenue Supermarts Ltd.(a)(b)
 833,112 19,409,136
Axis Bank Ltd.
 14,377,930 116,310,332
Bajaj Auto Ltd.
 712,815 29,051,311
Bajaj Finance Ltd.
 1,453,273 45,437,865
Bajaj Finserv Ltd.
 349,518 31,295,153
Balkrishna Industries Ltd.
 817,611 13,746,696
Bata India Ltd.
 685,843 7,922,270
Bayer CropScience Ltd./India
 122,447 8,387,889
BEML Ltd.
 214,077 2,934,884
Bharat Forge Ltd.
 1,836,549 17,708,924
Bharat Heavy Electricals Ltd.
 7,651,959 9,485,220
Bharat Petroleum Corp. Ltd.
 6,135,526 36,727,236
Bharti Airtel Ltd.
 11,097,029 61,435,928
Bharti Infratel Ltd.
 3,085,779 13,656,398
Blue Dart Express Ltd.
 83,287 4,257,872
Bosch Ltd.
 66,522 18,106,069
Britannia Industries Ltd.
 216,166 18,976,128
Cadila Healthcare Ltd.(a)
 1,881,319 10,072,546
Canara Bank
 1,449,585 5,523,814
Care Ratings Ltd.
 293,381 5,635,898
Ceat Ltd.
 242,110 4,885,970
Century Textiles & Industries Ltd.
 429,423 6,027,163
CESC Ltd.
 737,993 11,147,131
CG Power and Industrial Solutions Ltd.(a)
 4,750,983 4,329,796
Cipla Ltd./India
 3,064,369 23,831,080
Coal India Ltd.
 5,699,197 25,019,629
Container Corp. of India Ltd.
 573,038 11,710,415
CRISIL Ltd.
 246,554 6,266,105
Crompton Greaves Consumer Electricals Ltd.
 3,674,590 12,347,102
Dabur India Ltd.
 4,974,294 28,253,946
DCB Bank Ltd.
 2,406,229 6,603,691
Dewan Housing Finance Corp. Ltd.
 1,416,944 12,874,437
 Security Shares Value
India (continued)
Dish TV India Ltd.(a)
     6,273,817 $      6,786,776
Dr. Reddy's Laboratories Ltd.
       959,813      27,544,532
Edelweiss Financial Services Ltd.
     3,953,265      19,115,332
Eicher Motors Ltd.
       110,361      50,338,730
Escorts Ltd.
       580,109       8,015,747
Exide Industries Ltd.
     2,593,344       9,980,238
Federal Bank Ltd.
    13,350,655      16,776,728
Finolex Cables Ltd.
     1,093,416      11,100,645
Fortis Healthcare Ltd.(a)
 3,240,867 7,066,922
GAIL India Ltd.
 6,024,100 31,324,517
Gateway Distriparks Ltd.
 1,292,084 3,549,844
GE T&D India Ltd.
 994,889 4,565,882
Glenmark Pharmaceuticals Ltd.
 1,335,878 10,609,622
GMR Infrastructure Ltd.(a)
 23,690,100 6,371,657
Godrej Consumer Products Ltd.
 2,101,742 35,478,819
Godrej Industries Ltd.
 955,464 8,448,492
Grasim Industries Ltd.
 2,911,295 44,858,512
GRUH Finance Ltd.
 1,248,004 13,126,859
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.
 535,336 3,786,799
Gujarat Pipavav Port Ltd.
 1,997,292 3,416,995
Havells India Ltd.
 2,367,321 19,089,063
HCL Technologies Ltd.
 4,448,366 60,009,187
Hero MotoCorp Ltd.
 448,052 23,536,466
Hexaware Technologies Ltd.
 1,206,470 7,850,346
Hindalco Industries Ltd.
 10,021,617 34,780,316
Hindustan Petroleum Corp. Ltd.
 5,012,128 23,162,036
Hindustan Unilever Ltd.
 5,394,576 128,819,909
Housing Development & Infrastructure Ltd.(a)
 4,450,537 1,747,701
Housing Development Finance Corp. Ltd.
 12,327,115 334,836,466
ICICI Bank Ltd.
 19,339,915 81,907,868
Idea Cellular Ltd.(a)
 16,439,369 14,981,976
IDFC Bank Ltd.
 15,013,203 9,054,753
IDFC Ltd.
 6,264,111 4,701,622
IFCI Ltd.(a)
 9,967,874 2,614,476
IIFL Holdings Ltd.
 667,219 6,915,170
India Cements Ltd. (The)
 2,089,809 4,024,313
Indiabulls Housing Finance Ltd.
 2,436,578 44,869,936
Indiabulls Real Estate Ltd.(a)
 1,983,827 5,529,698
Indiabulls Ventures Ltd.
 1,122,448 7,772,681
Indian Hotels Co. Ltd. (The)
 4,485,626 9,435,552
Indian Oil Corp. Ltd.
 10,956,302 28,266,472
Infibeam Incorporation Ltd.
 1,514,116 3,816,562
Infosys Ltd.
 13,810,342 252,088,753
InterGlobe Aviation Ltd.(b)
 577,233 10,429,242
IRB Infrastructure Developers Ltd.
 1,890,579 6,457,651
ITC Ltd.
 27,272,493 109,785,096
Jain Irrigation Systems Ltd.
 3,745,998 5,748,129
Jaiprakash Associates Ltd.(a)
 12,500,748 2,806,451
Jammu & Kashmir Bank Ltd. (The)(a)
 2,867,463 2,509,150
Jindal Steel & Power Ltd.(a)
 2,991,993 10,177,631
JSW Steel Ltd.
 7,458,171 36,681,613
Jubilant Foodworks Ltd.
 341,543 12,696,548
Jubilant Life Sciences Ltd.
 691,852 8,091,129
Just Dial Ltd.(a)
 433,914 3,765,743
Kajaria Ceramics Ltd.
 780,690 6,352,994
Karur Vysya Bank Ltd. (The)
 4,223,136 6,577,284
KPIT Technologies Ltd.
 2,030,453 8,337,547
Larsen & Toubro Infotech Ltd.(b)
 142,649 3,679,608
Larsen & Toubro Ltd.
 3,898,605 79,170,871
 
 
  
6

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
India (continued)
LIC Housing Finance Ltd.
     2,665,176 $     18,765,730
Lupin Ltd.
     1,870,178      21,349,115
Mahanagar Gas Ltd.
       231,691       2,811,741
Mahindra & Mahindra Financial Services Ltd.
     2,623,932      18,961,367
Mahindra & Mahindra Ltd.
     6,218,528      85,050,056
Manappuram Finance Ltd.
     4,291,571       6,849,216
Marico Ltd.
     4,164,415      19,861,697
Maruti Suzuki India Ltd.
       877,143     110,967,217
Max Financial Services Ltd.(a)
 1,196,079 8,686,672
Mindtree Ltd.
 873,158 13,041,894
Motherson Sumi Systems Ltd.
 5,624,497 25,850,224
Mphasis Ltd.
 598,819 9,770,824
Natco Pharma Ltd.
 550,519 6,589,994
National Aluminium Co. Ltd.
 3,859,785 4,029,517
NCC Ltd./India
 5,175,960 9,200,258
Nestle India Ltd.
 209,600 29,985,232
NIIT Technologies Ltd.
 403,015 6,671,479
NTPC Ltd.
 14,494,275 35,987,342
Oil & Natural Gas Corp. Ltd.
 10,966,575 28,910,513
Page Industries Ltd.
 54,640 20,421,834
PC Jeweller Ltd.
 1,390,843 3,417,208
Persistent Systems Ltd.
 528,558 6,172,417
Petronet LNG Ltd.
 4,509,232 14,677,180
PI Industries Ltd.
 661,900 8,307,283
Pidilite Industries Ltd.
 507,295 8,702,177
Piramal Enterprises Ltd.
 704,875 24,770,508
Power Finance Corp. Ltd.
 7,029,894 8,391,182
Power Grid Corp. of India Ltd.
 11,500,000 35,693,328
PTC India Ltd.
 4,548,504 5,732,601
Rain Industries Ltd.
 943,020 3,275,573
Rajesh Exports Ltd.
 846,751 7,576,936
Rallis India Ltd.
 1,464,314 4,633,857
Ramco Cements Ltd. (The)
 877,368 10,057,245
Raymond Ltd.
 447,905 6,513,896
RBL Bank Ltd.(b)
 985,824 7,536,570
Redington India Ltd.
 3,611,438 6,373,834
Reliance Capital Ltd.
 942,532 5,832,643
Reliance Communications Ltd.(a)
 8,815,912 2,436,435
Reliance Industries Ltd.
 22,683,367 309,699,851
Reliance Infrastructure Ltd.
 1,351,905 8,709,528
Rural Electrification Corp. Ltd.
 6,304,063 11,037,307
Shree Cement Ltd.
 80,630 20,169,418
Shriram Transport Finance Co. Ltd.
 1,297,050 27,952,429
Siemens Ltd.
 727,227 11,265,782
Sobha Ltd.
 699,707 5,288,046
Solara Active Pharma Sciences Ltd.(a)
 77,587 148,106
SRF Ltd.
 219,390 6,281,708
State Bank of India(a)
 13,936,956 55,669,344
Sterlite Technologies Ltd.
 1,087,774 5,323,415
Strides Shasun Ltd.
 559,869 3,333,536
Sun Pharma Advanced Research Co. Ltd.(a)
 1,092,433 6,598,388
Sun Pharmaceutical Industries Ltd.
 7,124,503 50,713,222
Sundaram Finance Ltd.
 403,514 11,115,956
Suzlon Energy Ltd.(a)
 37,675,745 4,885,159
Tata Communications Ltd.
 765,740 7,005,217
Tata Consultancy Services Ltd.
 7,374,002 190,249,415
Tata Elxsi Ltd.
 279,131 5,117,074
Tata Global Beverages Ltd.
 3,370,089 13,443,900
Tata Motors Ltd.(a)
 12,660,804 53,001,550
Tata Power Co. Ltd. (The)
 10,041,376 12,097,416
 Security Shares Value
India (continued)
Tata Steel Ltd.
     2,812,482 $     23,991,483
Tech Mahindra Ltd.
     3,871,146      40,864,089
Thermax Ltd.
       412,041       6,779,985
TI Financial Holdings Ltd.
       872,365       8,678,728
Titan Co. Ltd.
     2,639,459      35,205,824
Torrent Power Ltd.
     1,426,832       5,546,001
TTK Prestige Ltd.
        54,252       4,759,536
Tube Investments of India Ltd.
       756,067       2,430,686
TV18 Broadcast Ltd.(a)
 7,159,370 5,935,861
UltraTech Cement Ltd.
 754,742 41,883,945
Union Bank of India(a)
 2,729,768 3,668,951
United Spirits Ltd.(a)
 488,775 24,217,658
UPL Ltd.
 3,058,200 32,067,311
VA Tech Wabag Ltd.
 477,333 3,154,398
Vakrangee Ltd.
 3,466,833 1,674,786
Vedanta Ltd.
 11,127,860 40,944,654
Vijaya Bank
 4,287,728 3,755,118
Voltas Ltd.
 1,183,349 9,468,370
Welspun India Ltd.
 2,847,786 2,645,963
Wipro Ltd.
 9,304,064 36,109,130
Wockhardt Ltd.(a)
 484,356 4,905,825
Yes Bank Ltd.
 13,039,334 66,894,638
Zee Entertainment Enterprises Ltd.
 4,616,415 38,038,863
    4,488,589,363
Indonesia — 2.0%
Ace Hardware Indonesia Tbk PT
 89,986,100 8,095,187
Adaro Energy Tbk PT
 120,122,600 16,295,869
Adhi Karya Persero Tbk PT
 23,706,700 3,318,426
AKR Corporindo Tbk PT
 16,922,300 5,991,919
Alam Sutera Realty Tbk PT
 118,452,300 3,017,784
Aneka Tambang Persero Tbk PT
 78,576,643 4,891,601
Astra International Tbk PT
 159,673,700 79,291,006
Bank Bukopin Tbk PT
 64,518,500 1,764,450
Bank Central Asia Tbk PT
 82,926,500 135,475,462
Bank Danamon Indonesia Tbk PT
 28,863,000 12,099,818
Bank Mandiri Persero Tbk PT
 148,160,600 75,173,244
Bank Negara Indonesia Persero Tbk PT
 61,208,200 37,332,817
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT
 23,785,700 3,509,225
Bank Rakyat Indonesia Persero Tbk PT
 433,869,600 96,172,607
Bank Tabungan Negara Persero Tbk PT
 41,200,376 9,043,623
Bukit Asam Tbk PT
 31,633,700 8,651,174
Bumi Resources Tbk PT(a)
 264,960,600 5,034,156
Bumi Serpong Damai Tbk PT
 70,677,500 8,672,554
Charoen Pokphand Indonesia Tbk PT
 64,327,000 17,036,586
Ciputra Development Tbk PT
 118,110,627 8,585,227
Delta Dunia Makmur Tbk PT(a)
 38,484,700 2,423,470
Eagle High Plantations Tbk PT(a)
 147,606,800 1,986,504
Gudang Garam Tbk PT
 3,924,600 19,347,614
Hanjaya Mandala Sampoerna Tbk PT
 72,706,900 19,831,533
Hanson International Tbk PT(a)
 613,225,400 6,134,461
Indah Kiat Pulp & Paper Corp. Tbk PT
 15,533,800 20,905,510
Indika Energy Tbk PT
 15,325,800 4,125,116
Indocement Tunggal Prakarsa Tbk PT
 14,164,400 17,966,718
Indofood CBP Sukses Makmur Tbk PT
 20,676,400 12,946,001
Indofood Sukses Makmur Tbk PT
 35,285,000 17,966,274
Inti Agri Resources Tbk PT(a)
 228,969,600 3,954,855
Jasa Marga Persero Tbk PT
 22,129,080 7,087,039
Kalbe Farma Tbk PT
 179,101,800 17,658,832
Kawasan Industri Jababeka Tbk PT
 152,752,888 2,396,555
 
 
7
  

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Indonesia (continued)
Krakatau Steel Persero Tbk PT(a)
    46,982,314 $      1,460,695
Link Net Tbk PT
    12,330,500       4,126,436
Matahari Department Store Tbk PT
    19,959,500      13,143,535
Medco Energi Internasional Tbk PT(a)
    60,236,200       4,855,311
Media Nusantara Citra Tbk PT
    52,292,700       4,516,102
Mitra Adiperkasa Tbk PT
    10,291,400       6,240,018
Modernland Realty Tbk PT
   123,975,300       2,748,067
Pakuwon Jati Tbk PT
   202,291,000       8,152,786
Panin Financial Tbk PT(a)
 207,628,300 3,317,271
Perusahaan Gas Negara Persero Tbk PT
 88,406,200 13,170,265
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT
 36,870,300 3,051,518
PP Persero Tbk PT
 32,515,350 6,037,395
Ramayana Lestari Sentosa Tbk PT
 39,224,900 3,853,328
Salim Ivomas Pratama Tbk PT
 45,943,300 1,802,022
Semen Indonesia Persero Tbk PT
 24,427,300 14,767,134
Siloam International Hospitals Tbk PT(a)
 3,138,471 1,575,447
Sugih Energy Tbk PT(a)
 82,105,800 295,451
Summarecon Agung Tbk PT
 87,552,700 6,206,507
Surya Citra Media Tbk PT
 55,093,500 9,753,869
Telekomunikasi Indonesia Persero Tbk PT
 394,693,400 99,987,101
Timah Tbk PT
 39,409,952 2,666,092
Tower Bersama Infrastructure Tbk PT
 21,188,300 7,738,800
Unilever Indonesia Tbk PT
 12,200,100 40,037,752
United Tractors Tbk PT
 13,756,300 34,700,131
Waskita Karya Persero Tbk PT
 50,683,800 8,462,498
Wijaya Karya Persero Tbk PT
 31,426,123 3,777,015
    1,000,625,763
Malaysia — 2.4%
AEON Credit Service M Bhd
 2,357,500 8,766,583
AirAsia Group Bhd
 13,037,500 10,056,564
Alliance Bank Malaysia Bhd
 10,097,700 10,757,349
AMMB Holdings Bhd
 13,772,300 12,284,338
Astro Malaysia Holdings Bhd
 15,813,000 5,562,362
Axiata Group Bhd(c)
 22,129,800 24,242,695
Berjaya Corp. Bhd(a)(c)
 39,977,506 2,912,934
Berjaya Sports Toto Bhd
 6,534,873 4,071,981
Bursa Malaysia Bhd
 6,957,700 13,216,134
Cahya Mata Sarawak Bhd(c)
 6,798,600 3,963,003
Carlsberg Brewery Malaysia Bhd
 1,699,900 8,482,416
CIMB Group Holdings Bhd
 36,299,500 53,810,817
Dialog Group Bhd
 35,046,196 28,618,125
DiGi.Com Bhd(c)
 26,201,200 29,097,815
DRB-Hicom Bhd(c)
 6,312,700 2,775,685
Eastern & Oriental Bhd(c)
 9,940,029 3,646,342
Felda Global Ventures Holdings Bhd(c)
 14,807,700 5,841,228
Gamuda Bhd
 14,675,300 12,315,453
Genting Bhd
 17,473,300 38,590,529
Genting Malaysia Bhd(c)
 24,223,700 30,310,057
Genting Plantations Bhd
 2,584,000 6,167,839
HAP Seng Consolidated Bhd
 5,878,100 14,473,714
Hartalega Holdings Bhd
 11,967,800 18,342,608
Hengyuan Refining Co. Bhd
 928,000 1,524,905
Hong Leong Bank Bhd
 6,146,700 29,621,534
Hong Leong Financial Group Bhd
 2,409,700 11,443,048
IHH Healthcare Bhd(c)
 19,320,500 29,126,382
IJM Corp. Bhd
 22,288,100 9,464,042
Inari Amertron Bhd
 23,201,100 13,349,377
IOI Corp. Bhd
 18,884,900 21,969,117
IOI Properties Group Bhd
 18,477,641 7,335,345
 Security Shares Value
Malaysia (continued)
Kossan Rubber Industries
     3,005,800 $      5,777,480
KPJ Healthcare Bhd(c)
    25,124,600       6,249,586
Kuala Lumpur Kepong Bhd
     3,800,800      23,778,874
Lafarge Malaysia Bhd(a)(c)
     4,409,900       3,324,045
Magnum Bhd
     8,412,500       4,628,989
Mah Sing Group Bhd(c)
    14,411,223       3,983,001
Malayan Banking Bhd
    29,031,000      70,462,176
Malaysia Airports Holdings Bhd
     6,954,300      14,555,105
Malaysia Building Society Bhd(c)
 14,829,200 4,359,338
Malaysian Resources Corp. Bhd(c)
 22,712,400 3,366,914
Maxis Bhd(c)
 15,549,100 22,620,424
MISC Bhd
 10,008,300 14,760,985
My EG Services Bhd
 21,330,000 4,769,774
Nestle Malaysia Bhd
 345,600 12,851,457
OSK Holdings Bhd
 11,340,000 2,621,307
Pavilion REIT
 12,928,900 5,100,094
Petronas Chemicals Group Bhd
 18,961,500 38,351,778
Petronas Dagangan Bhd
 2,192,200 13,792,133
Petronas Gas Bhd
 5,471,000 24,165,874
Pos Malaysia Bhd(c)
 3,738,100 3,353,019
PPB Group Bhd
 3,910,200 19,570,649
Press Metal Aluminium Holdings Bhd
 11,423,000 13,575,575
Public Bank Bhd
 22,871,060 137,111,430
QL Resources Bhd
 9,089,295 12,080,998
RHB Bank Bhd
 7,427,566 9,965,629
RHB Bank Bhd, New(a)(d)
 1,769,000 4
Sime Darby Bhd
 18,813,200 11,533,721
Sime Darby Plantation Bhd
 18,683,100 26,006,124
Sime Darby Property Bhd
 18,683,100 5,398,383
SP Setia Bhd Group
 3,882,700 3,004,703
Sunway Bhd(c)
 18,361,554 6,735,645
Sunway Construction Group Bhd(c)
 6,837,270 2,989,158
Sunway REIT(c)
 17,647,400 7,582,174
Supermax Corp. Bhd
 6,174,700 4,762,897
Ta Ann Holdings Bhd
 4,520,360 3,180,153
Telekom Malaysia Bhd(c)
 8,942,200 8,245,697
Tenaga Nasional Bhd
 27,024,000 97,775,276
TIME dotCom Bhd(c)
 3,809,300 7,178,329
Top Glove Corp. Bhd
 6,320,000 16,292,261
UEM Sunrise Bhd(a)(c)
 14,605,000 2,642,111
UOA Development Bhd
 8,832,800 5,725,785
VS Industry Bhd
 7,424,175 3,413,628
WCT Holdings Bhd(a)(c)
 10,863,979 2,142,770
Westports Holdings Bhd
 10,961,700 9,501,976
YTL Corp. Bhd
 32,786,466 7,825,915
    1,179,253,665
Mexico — 2.6%
Alfa SAB de CV, Class A
 24,352,747 24,921,761
Alsea SAB de CV
 4,449,595 14,543,384
America Movil SAB de CV, Series L, NVS
 265,891,472 205,938,209
Arca Continental SAB de CV
 3,711,338 22,194,886
Axtel SAB de CV, CPO(a)(c)
 13,995,500 2,888,280
Banco del Bajio SA(b)
 4,307,853 8,136,797
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Class B
 14,121,911 18,417,675
Bolsa Mexicana de Valores SAB de CV
 4,119,778 6,692,550
Cemex SAB de CV, CPO(a)
 119,847,883 71,025,759
Coca-Cola Femsa SAB de CV, Series L, NVS
 3,991,900 23,312,214
Concentradora Fibra Hotelera Mexicana SA de CV(b)
 6,007,900 3,413,375
 
 
  
8

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Mexico (continued)
Consorcio ARA SAB de CV
    11,318,900 $      3,642,427
Controladora Vuela Cia. de Aviacion SAB de CV, Class A(a)(c)
     5,889,359       3,031,141
Corp Inmobiliaria Vesta SAB de CV
     5,096,200       6,384,129
El Puerto de Liverpool SAB de CV, Series C1, NVS(c)
     1,475,405       8,338,983
Fibra Uno Administracion SA de CV
    26,042,300      35,825,014
Fomento Economico Mexicano SAB de CV
    15,448,045     128,332,308
Genomma Lab Internacional SAB de CV, Class B(a)(c)
     7,174,400       6,058,612
Gruma SAB de CV, Series B(c)
     1,792,705      18,735,596
Grupo Aeromexico SAB de CV(a)
 4,236,100 5,154,256
Grupo Aeroportuario del Centro Norte SAB de CV
 2,646,400 12,612,862
Grupo Aeroportuario del Pacifico SAB de CV, Series B
 2,926,200 24,848,515
Grupo Aeroportuario del Sureste SAB de CV, Class B
 1,751,990 27,722,070
Grupo Bimbo SAB de CV, Series A(c)
 13,428,002 25,537,654
Grupo Carso SAB de CV, Series A1
 4,511,236 14,014,488
Grupo Comercial Chedraui SA de CV
 3,449,700 6,795,146
Grupo Financiero Banorte SAB de CV, Class O
 19,237,478 102,087,714
Grupo Financiero Inbursa SAB de CV, Class O
 18,979,242 26,715,699
Grupo Herdez SAB de CV
 2,874,600 5,663,762
Grupo Lala SAB de CV(c)
 1,487,446 1,615,109
Grupo Mexico SAB de CV, Class B
 29,326,420 72,567,224
Grupo Televisa SAB, CPO
 19,669,556 65,459,037
Industrias Bachoco SAB de CV, Series B
 1,676,984 7,633,929
Industrias CH SAB de CV, Series B(a)
 1,523,500 6,607,132
Industrias Penoles SAB de CV
 1,128,090 18,989,774
Infraestructura Energetica Nova SAB de CV
 4,371,971 18,206,715
Kimberly-Clark de Mexico SAB de CV, Class A
 12,813,175 21,250,289
La Comer SAB de CV(a)(c)
 4,293,502 4,174,989
Macquarie Mexico Real Estate Management SA de CV
 7,625,400 7,815,002
Mexichem SAB de CV
 8,468,383 23,777,180
PLA Administradora Industrial S. de RL de CV
 6,144,649 8,723,066
Promotora y Operadora de Infraestructura SAB de CV
 1,942,645 17,405,021
Qualitas Controladora SAB de CV(c)
 3,033,888 7,739,201
Regional SAB de CV
 2,020,047 11,217,436
Telesites SAB de CV(a)
 13,272,695 9,351,452
Wal-Mart de Mexico SAB de CV
 40,425,996 101,123,571
    1,266,641,393
Pakistan — 0.2%
DG Khan Cement Co. Ltd.
 2,760,400 3,020,117
Engro Corp. Ltd./Pakistan
 2,833,300 7,547,949
Engro Fertilizers Ltd.
 5,597,347 3,599,522
Fauji Cement Co. Ltd.
 7,798,000 1,694,059
Fauji Fertilizer Co. Ltd.
 5,249,320 4,464,772
Habib Bank Ltd.
 4,764,500 7,056,580
Hub Power Co. Ltd. (The)
 6,511,995 5,566,901
Lucky Cement Ltd.
 1,283,050 6,063,975
MCB Bank Ltd.
 3,138,800 5,544,937
National Bank of Pakistan
 4,608,500 1,975,214
Nishat Mills Ltd.
 3,366,500 4,220,613
Oil & Gas Development Co. Ltd.
 6,176,300 8,680,003
Pakistan Oilfields Ltd.
 1,016,800 5,970,692
Pakistan State Oil Co. Ltd.
 1,962,282 5,425,837
Searle Co. Ltd. (The)
 1,077,811 3,028,893
SUI Northern Gas Pipeline
 2,897,100 2,433,779
 Security Shares Value
Pakistan (continued)
United Bank Ltd./Pakistan
     4,022,500 $      5,885,584
    82,179,427
Peru — 0.4%
Cia. de Minas Buenaventura SAA, ADR, NVS
     1,656,740      25,629,768
Credicorp Ltd.
       543,837     120,416,389
Southern Copper Corp.
       730,196     35,699,282
    181,745,439
Philippines — 1.0%
Aboitiz Equity Ventures Inc.
 16,495,840 18,148,862
Aboitiz Power Corp.
 11,148,000 8,339,435
Alliance Global Group Inc.(a)
 28,650,500 7,253,222
Ayala Corp.
 2,127,075 38,059,036
Ayala Land Inc.
 58,058,800 43,984,358
Bank of the Philippine Islands
 8,184,543 14,800,118
BDO Unibank Inc.
 16,568,856 41,157,612
Bloomberry Resorts Corp.
 16,049,600 3,299,401
Cebu Air Inc.
 2,590,700 4,290,259
Cosco Capital Inc.
 25,774,400 3,012,341
D&L Industries Inc.
 26,722,800 5,615,626
DMCI Holdings Inc.
 34,202,600 7,031,209
DoubleDragon Properties Corp.(a)
 4,550,300 2,529,123
Filinvest Land Inc.
 107,640,000 3,298,729
First Gen Corp.
 11,736,900 3,346,666
First Philippine Holdings Corp.
 1,869,170 2,314,426
Globe Telecom Inc.
 306,090 9,415,375
GT Capital Holdings Inc.
 762,975 14,087,346
International Container Terminal Services Inc.
 4,551,130 7,320,202
JG Summit Holdings Inc.
 24,183,263 26,284,404
Jollibee Foods Corp.
 3,658,860 19,082,861
Manila Electric Co.
 913,550 5,613,232
Manila Water Co. Inc.
 11,690,900 6,308,820
Megaworld Corp.
 96,516,600 8,928,642
Melco Resorts And Entertainment (Philippines) Corp.(a)
 18,965,500 2,061,330
Metro Pacific Investments Corp.
 122,722,600 10,862,371
Metropolitan Bank & Trust Co.
 7,622,282 11,520,004
Nickel Asia Corp.
 17,525,724 1,641,301
PLDT Inc.
 726,665 17,912,291
Robinsons Land Corp.
 19,324,313 8,110,727
Security Bank Corp.
 1,927,340 7,153,854
SM Investments Corp.
 1,992,522 32,920,770
SM Prime Holdings Inc.
 72,410,996 50,998,027
Universal Robina Corp.
 7,629,640 18,589,219
Vista Land & Lifescapes Inc.
 44,341,300 5,865,977
    471,157,176
Poland — 1.1%
Alior Bank SA(a)
 773,288 14,474,003
Asseco Poland SA
 609,072 7,556,296
Bank Handlowy w Warszawie SA
 282,437 6,084,257
Bank Millennium SA(a)
 5,196,767 11,265,105
Bank Polska Kasa Opieki SA
 1,150,413 34,763,477
Bank Zachodni WBK SA
 277,901 26,064,368
Budimex SA
 113,874 4,801,498
CCC SA
 250,490 18,469,808
CD Projekt SA
 567,497 22,578,704
Ciech SA(a)
 257,223 4,303,562
Cyfrowy Polsat SA
 1,898,158 12,774,953
Dino Polska SA(a)(b)
 335,549 10,103,428
Enea SA
 1,920,118 5,324,795
 
 
9
  

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Poland (continued)
Eurocash SA(c)
       764,004 $      4,896,151
Getin Noble Bank SA(a)(c)
     5,383,786       1,600,693
Grupa Azoty SA
       376,863       4,339,310
Grupa Lotos SA
       815,014      12,023,370
Jastrzebska Spolka Weglowa SA(a)
       450,725      10,162,708
KGHM Polska Miedz SA
     1,066,904      24,430,869
KRUK SA
       149,215       9,381,015
LPP SA
        10,887      27,719,586
Lubelski Wegiel Bogdanka SA
 155,008 2,262,432
mBank SA
 122,012 13,897,117
Netia SA
 2,194,640 2,776,111
Orange Polska SA(a)
 5,155,654 6,981,506
PGE Polska Grupa Energetyczna SA(a)
 6,684,139 17,777,398
PLAY Communications SA(b)
 667,257 4,490,763
Polski Koncern Naftowy ORLEN SA
 2,371,446 52,239,435
Polskie Gornictwo Naftowe i Gazownictwo SA
 14,452,586 22,344,426
Powszechna Kasa Oszczednosci Bank Polski SA(a)
 7,106,731 72,109,381
Powszechny Zaklad Ubezpieczen SA
 4,746,771 46,585,649
Tauron Polska Energia SA(a)
 9,292,050 5,625,837
Warsaw Stock Exchange
 478,247 4,692,308
    524,900,319
Qatar — 0.7%
Al Meera Consumer Goods Co. QSC
 99,353 4,035,323
Barwa Real Estate Co.
 940,566 8,830,119
Commercial Bank PQSC (The)
 1,897,390 19,610,259
Doha Bank QPSC
 425,969 3,038,054
Ezdan Holding Group QSC(a)
 6,919,803 16,065,689
Gulf International Services QSC(a)
 399,984 1,848,523
Industries Qatar QSC
 1,347,816 37,827,411
Masraf Al Rayan QSC
 3,320,045 30,423,520
Ooredoo QPSC
 706,145 12,972,575
Qatar Electricity & Water Co. QSC
 344,323 17,911,395
Qatar Gas Transport Co. Ltd.
 1,750,518 7,045,206
Qatar Industrial Manufacturing Co. QSC
 272,722 3,090,476
Qatar Insurance Co. SAQ
 1,467,666 13,236,117
Qatar Islamic Bank SAQ
 788,279 24,773,866
Qatar National Bank QPSC
 3,181,013 138,144,362
Qatar National Cement Co. QSC
 208,755 3,199,481
United Development Co. QSC
 1,751,669 6,953,922
Vodafone Qatar QSC(a)
 643,292 1,444,215
    350,450,513
Russia — 3.0%
Aeroflot PJSC
 4,908,257 11,087,924
Alrosa PJSC
 20,956,500 29,689,286
Gazprom PJSC
 65,712,920 152,875,912
Gazprom PJSC, ADR, NVS
 9,413,460 42,755,935
Inter RAO UES PJSC
 280,582,648 18,367,128
LSR Group PJSC, GDR, NVS(e)
 2,412,150 6,681,655
LUKOIL PJSC
 2,608,405 176,146,591
LUKOIL PJSC, ADR, NVS
 812,299 54,212,835
M.Video PJSC(a)
 410,064 2,682,991
Magnit PJSC, GDR, NVS(e)
 2,846,886 57,250,877
Magnitogorsk Iron & Steel Works PJSC
 17,500,127 13,783,342
Mechel PJSC, ADR, NVS(a)
 889,823 3,078,788
MMC Norilsk Nickel PJSC
 519,673 92,641,077
Mobile TeleSystems PJSC, ADR, NVS
 4,154,154 39,796,795
Moscow Exchange MICEX-RTS PJSC
 12,860,405 23,231,366
Novatek PJSC, GDR, NVS(e)
 747,326 107,689,677
Novolipetsk Steel PJSC
 10,013,138 26,210,637
 Security Shares Value
Russia (continued)
PhosAgro PJSC, GDR, NVS(e)
     1,122,937 $     14,935,062
Polyus PJSC
       174,832      10,518,952
Rosneft Oil Co. PJSC
     1,206,660       7,459,405
Rosneft Oil Co. PJSC, GDR, NVS(e)
     8,053,668      49,127,375
RusHydro PJSC
   909,609,000      10,564,614
Sberbank of Russia PJSC
    12,641,030      45,098,222
Sberbank of Russia PJSC, ADR
    17,601,789     253,113,726
Severstal PJSC
     1,768,720      28,457,301
Surgutneftegas OJSC
 51,272,550 23,551,933
Surgutneftegas OJSC, ADR, NVS
 1,299,033 5,780,697
Tatneft PJSC
 12,502,353 133,694,088
VTB Bank PJSC
 5,421,870,000 4,339,932
VTB Bank PJSC, GDR, NVS(e)
 13,930,608 22,107,875
X5 Retail Group NV, GDR(e)
 410,457 11,906,562
    1,478,838,560
South Africa — 6.2%
Adcock Ingram Holdings Ltd.
 1,046,672 5,404,018
Advtech Ltd.
 5,208,704 6,498,028
AECI Ltd.
 1,208,169 10,301,632
African Rainbow Minerals Ltd.
 1,002,625 8,697,069
Anglo American Platinum Ltd.
 424,572 11,263,478
AngloGold Ashanti Ltd.
 3,169,840 27,025,608
Aspen Pharmacare Holdings Ltd.(c)
 3,069,688 60,593,920
Astral Foods Ltd.
 452,097 9,645,926
Attacq Ltd.(a)
 4,950,415 7,172,532
AVI Ltd.
 2,974,236 24,024,030
Barclays Africa Group Ltd.
 5,532,146 70,622,769
Barloworld Ltd.
 1,769,590 18,583,140
Bid Corp. Ltd.
 2,733,489 54,803,595
Bidvest Group Ltd. (The)
 2,631,309 41,967,976
Blue Label Telecoms Ltd.
 5,093,150 4,745,296
Brait SE(a)(c)
 2,298,454 6,625,863
Capitec Bank Holdings Ltd.
 330,050 22,787,913
Cashbuild Ltd.
 234,757 7,228,996
City Lodge Hotels Ltd.
 523,276 6,448,297
Clicks Group Ltd.
 2,121,931 33,841,993
Coronation Fund Managers Ltd.
 1,872,200 9,240,523
Discovery Ltd.
 2,797,355 34,047,554
Emira Property Fund Ltd.
 5,849,517 7,112,717
Exxaro Resources Ltd.
 2,043,407 20,224,324
Famous Brands Ltd.(a)(c)
 762,076 6,624,917
FirstRand Ltd.
 26,104,106 123,667,300
Fortress REIT Ltd., Series A
 8,985,654 11,862,624
Foschini Group Ltd. (The)
 1,765,524 25,683,391
Gold Fields Ltd.
 6,569,018 23,433,733
Grindrod Ltd.(a)
 4,437,600 4,765,208
Growthpoint Properties Ltd.
 24,048,865 51,648,569
Harmony Gold Mining Co. Ltd.
 3,361,739 5,613,958
Hosken Consolidated Investments Ltd.
 672,381 7,534,490
Hudaco Industries Ltd.
 554,667 6,925,783
Hyprop Investments Ltd.
 2,154,842 17,609,644
Impala Platinum Holdings Ltd.(a)(c)
 5,612,163 8,977,688
Imperial Holdings Ltd.
 1,187,926 19,145,634
Investec Ltd.
 2,082,466 15,148,645
JSE Ltd.
 841,475 12,059,702
KAP Industrial Holdings Ltd.
 10,740,298 6,996,246
Kumba Iron Ore Ltd.
 505,687 11,585,882
Liberty Holdings Ltd.
 1,099,697 10,547,193
Life Healthcare Group Holdings Ltd.
 10,240,432 23,044,004
Massmart Holdings Ltd.
 961,644 8,960,411
 
 
  
10

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Africa (continued)
Metair Investments Ltd.
     2,652,944 $      4,191,505
MMI Holdings Ltd./South Africa
     7,382,183      10,899,868
Mondi Ltd.
       940,085      26,032,895
Mpact Ltd.
     2,178,929       4,290,761
Mr. Price Group Ltd.
     1,919,006      38,031,623
MTN Group Ltd.
    13,166,680     119,035,520
Murray & Roberts Holdings Ltd.
     4,230,256       6,072,330
Nampak Ltd.(a)
     5,301,197       6,366,459
Naspers Ltd., Class N
 3,467,776 828,542,454
Nedbank Group Ltd.
 1,711,248 36,967,821
NEPI Rockcastle PLC
 3,027,002 29,636,656
Netcare Ltd.
 8,447,569 19,749,903
Northam Platinum Ltd.(a)
 3,167,549 8,761,093
Omnia Holdings Ltd.
 635,748 6,776,627
Pick n Pay Stores Ltd.
 3,041,151 18,057,209
Pioneer Foods Group Ltd.
 1,140,480 9,680,347
PPC Ltd.(a)
 13,430,636 8,600,273
PSG Group Ltd.
 1,089,080 18,727,189
Rand Merchant Investment Holdings Ltd.
 5,905,108 17,904,157
Redefine Properties Ltd.
 41,966,767 36,350,212
Reinet Investments SCA(a)
 744,994 14,023,416
Remgro Ltd.
 4,089,726 65,874,781
Resilient REIT Ltd.(c)
 2,343,495 10,576,721
Reunert Ltd.
 1,664,008 10,471,491
RMB Holdings Ltd.
 5,566,841 31,924,174
Royal Bafokeng Platinum Ltd.(a)
 632,773 1,066,696
SA Corporate Real Estate Ltd.
 21,819,288 7,976,574
Sanlam Ltd.
 12,674,809 76,108,900
Sappi Ltd.
 4,511,673 29,649,155
Sasol Ltd.
 4,377,723 158,137,250
Shoprite Holdings Ltd.
 3,490,042 64,501,708
Sibanye Gold Ltd.(a)
 14,774,088 9,203,913
SPAR Group Ltd. (The)
 1,560,675 23,752,081
Standard Bank Group Ltd.
 10,020,725 164,097,779
Super Group Ltd./South Africa(a)
 3,408,241 9,800,879
Telkom SA SOC Ltd.
 2,256,690 9,237,016
Tiger Brands Ltd.
 1,278,650 33,912,241
Tongaat Hulett Ltd.
 1,044,093 6,677,579
Trencor Ltd.
 1,736,147 5,169,373
Truworths International Ltd.
 3,541,574 23,511,689
Tsogo Sun Holdings Ltd.
 3,852,131 6,995,579
Vodacom Group Ltd.
 4,639,103 52,563,070
Vukile Property Fund Ltd.
 6,098,960 10,531,722
Wilson Bayly Holmes-Ovcon Ltd.
 574,816 7,034,858
Woolworths Holdings Ltd./South Africa
 7,945,538 36,600,291
Zeder Investments Ltd.
 13,915,270 6,603,298
    3,041,419,355
South Korea — 14.8%
Advanced Process Systems Corp.(a)(c)
 199,228 4,241,646
Ahnlab Inc.(c)
 53,725 2,950,526
AK Holdings Inc.
 53,233 3,975,376
Amorepacific Corp.(c)
 253,880 78,310,775
AMOREPACIFIC Group
 239,400 27,983,116
Ananti Inc.(a)(c)
 456,045 4,569,123
Aprogen pharmaceuticals Inc.(a)(c)
 1,200,227 4,386,933
Asiana Airlines Inc.(a)
 920,607 4,231,743
ATGen Co. Ltd.(a)(c)
 287,560 4,748,428
BGF retail Co. Ltd.
 64,407 10,904,288
BH Co. Ltd.(a)(c)
 223,962 5,744,746
Binggrae Co. Ltd.
 70,745 4,009,944
 Security Shares Value
South Korea (continued)
BNK Financial Group Inc.
     1,853,385 $     16,385,509
Boditech Med Inc.(c)
       234,679       3,330,942
Bukwang Pharmaceutical Co. Ltd.
       303,869       8,160,868
Caregen Co. Ltd.
        43,026       3,444,635
Cell Biotech Co. Ltd.(c)
        88,516       3,440,624
Celltrion Healthcare Co. Ltd.(a)(c)
       276,446      25,594,240
Celltrion Inc.(a)(c)
       646,872     159,325,123
Cheil Worldwide Inc.
       579,430      10,643,085
Chong Kun Dang Pharmaceutical Corp.
 60,879 5,930,048
CJ CGV Co. Ltd.
 135,825 8,316,202
CJ CheilJedang Corp.
 61,852 20,111,439
CJ Corp.
 114,936 15,780,442
CJ E&M Corp.
 169,331 14,232,004
CJ Freshway Corp.(c)
 87,957 2,823,241
CJ Logistics Corp.(a)(c)
 70,618 9,793,952
CJ O Shopping Co. Ltd.
 28,860 5,962,356
Com2uSCorp.
 79,473 14,118,539
Cosmax Inc.(c)
 73,441 11,582,142
Coway Co. Ltd.
 422,747 34,237,036
CrystalGenomics Inc.(a)(c)
 222,629 4,863,781
Daeduck Electronics Co.
 509,709 3,768,617
Daeduck GDS Co. Ltd.(c)
 267,678 3,737,236
Daekyo Co. Ltd.
 345,618 2,423,927
Daelim Industrial Co. Ltd.
 219,320 17,090,663
Daesang Corp.
 193,082 4,540,682
Daewoo Engineering & Construction Co. Ltd.(a)
 1,340,217 8,019,296
Daewoong Pharmaceutical Co. Ltd.(c)
 48,814 9,464,378
Daishin Securities Co. Ltd.
 345,028 4,353,060
Daou Technology Inc.(c)
 246,240 5,927,852
DB HiTek Co. Ltd.
 372,293 5,871,312
DB Insurance Co. Ltd.
 391,230 21,231,926
Dentium Co. Ltd.(c)
 69,236 5,632,912
DGB Financial Group Inc.
 1,203,930 11,559,604
DIO Corp.(a)(c)
 121,971 4,282,761
Dong-A Socio Holdings Co. Ltd.
 40,431 4,219,572
Dong-A ST Co. Ltd.
 56,433 5,078,159
Dongjin Semichem Co. Ltd.
 304,946 4,483,876
DongKook Pharmaceutical Co. Ltd.
 74,042 4,368,543
Dongkuk Steel Mill Co. Ltd.
 583,018 5,462,667
Dongsuh Cos. Inc.
 319,316 7,687,045
Dongwon Industries Co. Ltd.
 16,723 5,181,578
Doosan Bobcat Inc.
 229,791 7,226,601
Doosan Heavy Industries & Construction Co. Ltd.(a)(c)
 533,307 9,449,570
Doosan Infracore Co. Ltd.(a)(c)
 1,176,282 11,348,702
DoubleUGames Co. Ltd.
 100,995 5,218,629
Douzone Bizon Co. Ltd.
 191,916 7,798,062
E1 Corp.(c)
 35,564 2,240,174
Ecopro Co. Ltd.(a)(c)
 191,179 6,677,387
E-MART Inc.
 170,647 39,576,743
Eo Technics Co Ltd.(c)
 79,220 5,555,946
Fila Korea Ltd.(c)
 507,665 13,728,313
Foosung Co. Ltd.(a)(c)
 544,660 4,693,995
GemVax & Kael Co. Ltd.(a)(c)
 303,834 3,988,359
Genexine Co. Ltd.(a)(c)
 120,464 12,739,827
Grand Korea Leisure Co. Ltd.
 274,445 6,976,013
Green Cross Cell Corp.
 104,203 4,939,722
Green Cross Corp./South Korea
 49,049 10,010,464
Green Cross Holdings Corp.
 239,059 8,416,243
GS Engineering & Construction Corp.(c)
 386,525 17,588,062
 
 
11
  

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Korea (continued)
GS Holdings Corp.
       408,134 $     22,073,577
GS Home Shopping Inc.
        31,508       4,945,641
GS Retail Co. Ltd.(c)
       235,178       8,235,975
G-treeBNT Co. Ltd.(a)(c)
       187,398       7,179,867
Gwangju Shinsegae Co. Ltd.
        12,162       2,617,546
Halla Holdings Corp.
        81,014       3,370,730
Hana Financial Group Inc.
     2,288,294      88,309,319
Hana Tour Service Inc.(c)
        95,556       9,130,542
Hanall Biopharma Co. Ltd.(a)(c)
 271,428 8,082,786
Hancom Inc.(c)
 242,535 2,981,204
Handsome Co. Ltd.
 157,663 5,740,779
Hanil Cement Co. Ltd.(c)
 31,161 4,928,754
Hanjin Heavy Industries & Construction Co. Ltd.(a)(c)
 781,084 2,394,807
Hanjin Kal Corp.
 397,315 8,551,146
Hanjin Transportation Co. Ltd.
 107,816 2,450,477
Hankook Shell Oil Co. Ltd.(c)
 11,976 3,705,177
Hankook Tire Co. Ltd.
 596,753 23,721,755
Hankook Tire Worldwide Co. Ltd.(c)
 278,987 4,645,685
Hanmi Pharm Co. Ltd.
 51,634 23,135,787
Hanmi Science Co. Ltd.(c)
 114,315 7,529,445
Hanon Systems
 1,547,193 14,496,636
Hansae Co. Ltd.
 152,796 2,182,901
Hansol Chemical Co. Ltd.
 80,393 5,742,623
Hansol Technics Co. Ltd.(a)
 262,320 2,676,859
Hanssem Co. Ltd.(c)
 95,329 9,993,207
Hanwha Aerospace Co. Ltd.(a)
 347,841 10,697,091
Hanwha Chemical Corp.
 844,636 20,254,966
Hanwha Corp.
 347,501 11,605,395
Hanwha General Insurance Co. Ltd.
 813,059 5,355,275
Hanwha Investment & Securities Co. Ltd.(a)(c)
 1,315,108 3,629,525
Hanwha Life Insurance Co. Ltd.
 1,997,680 10,322,443
Hite Jinro Co. Ltd.
 243,935 4,559,850
HLB Inc.(a)(c)
 261,754 33,509,951
HMC Investment Securities Co. Ltd.
 372,968 3,615,674
Homecast Co. Ltd.(a)(c)
 295,243 2,284,268
Hotel Shilla Co. Ltd.
 256,210 29,472,647
HS Industries Co. Ltd.(c)
 402,045 3,468,638
Huchems Fine Chemical Corp.
 203,859 5,720,799
Hugel Inc.(a)(c)
 21,193 9,486,175
Humedix Co. Ltd.(c)
 134,691 4,148,375
Huons Co. Ltd.(c)
 91,553 8,212,974
Huons Global Co. Ltd.(c)
 87,568 5,150,342
Hy-Lok Corp.(c)
 156,510 4,363,028
Hyosung Corp.
 169,046 21,014,114
Hyundai Construction Equipment Co. Ltd.(a)
 51,328 7,951,924
Hyundai Department Store Co. Ltd.
 107,446 11,213,577
Hyundai Development Co. Engineering & Construction
 475,391 20,463,048
Hyundai Electric & Energy System Co. Ltd.(a)(c)
 52,104 4,437,263
Hyundai Elevator Co. Ltd.(c)
 120,489 14,922,104
Hyundai Engineering & Construction Co. Ltd.
 619,749 42,430,054
Hyundai Glovis Co. Ltd.
 150,439 18,770,857
Hyundai Greenfood Co. Ltd.
 429,513 5,956,880
Hyundai Heavy Industries Co. Ltd.(a)
 290,913 30,900,820
Hyundai Heavy Industries Holdings Co. Ltd.(a)(c)
 78,803 28,364,548
Hyundai Home Shopping Network Corp.
 61,501 6,076,215
Hyundai Livart Furniture Co. Ltd.
 150,537 3,170,082
Hyundai Marine & Fire Insurance Co. Ltd.
 514,758 16,260,040
Hyundai Merchant Marine Co. Ltd.(a)(c)
 2,080,020 11,403,978
Hyundai Mipo Dockyard Co. Ltd.(a)(c)
 103,452 8,992,488
 Security Shares Value
South Korea (continued)
Hyundai Mobis Co. Ltd.
       536,501 $    108,499,669
Hyundai Motor Co.
     1,228,622     158,428,923
Hyundai Rotem Co. Ltd.(a)(c)
       241,645       8,664,204
Hyundai Steel Co.
       619,475      35,515,149
Il Dong Pharmaceutical Co. Ltd.
       173,318       3,673,933
Iljin Materials Co. Ltd.(c)
       177,252       5,697,650
Ilyang Pharmaceutical Co. Ltd.(a)
       165,995       6,252,050
iMarketKorea Inc.
       245,995       1,789,138
InBody Co. Ltd.
 129,737 3,983,761
Industrial Bank of Korea
 1,839,813 26,625,616
ING Life Insurance Korea Ltd.(b)
 265,704 9,908,902
Innocean Worldwide Inc.
 91,160 5,556,113
Innox Advanced Materials Co. Ltd.(a)(c)
 62,442 4,280,777
iNtRON Biotechnology Inc.(a)(c)
 146,693 5,661,143
IS Dongseo Co. Ltd.
 154,552 4,222,419
It's Hanbul Co. Ltd.(c)
 78,016 3,879,269
Jayjun Cosmetic Co. Ltd.(a)(c)
 199,327 4,622,826
JB Financial Group Co. Ltd.(c)
 957,941 5,385,336
Jeil Pharmaceutical Co. Ltd.(c)
 64,952 2,440,332
Jenax Inc.(a)(c)
 157,395 2,022,284
Jusung Engineering Co. Ltd.(c)
 371,169 3,460,502
JW Holdings Corp.(c)
 383,546 2,995,925
JW Pharmaceutical Corp.
 129,588 4,868,792
Kakao Corp.
 360,748 34,637,430
Kakao M Corp.(c)
 69,219 5,329,725
Kangwon Land Inc.
 890,730 22,186,651
KB Financial Group Inc.
 3,065,224 147,296,816
KC Co. Ltd.
 87,601 1,795,985
KC Tech Co. Ltd./New(c)
 127,935 2,753,460
KCC Corp.
 44,083 14,088,403
KEPCO Engineering & Construction Co. Inc.(c)
 143,224 4,145,451
KEPCO Plant Service & Engineering Co. Ltd.(c)
 197,460 7,409,673
Kia Motors Corp.
 2,050,446 59,252,649
KISWIRE Ltd.(c)
 92,662 2,578,839
KIWOOM Securities Co. Ltd.(c)
 98,167 11,429,063
Koh Young Technology Inc.(c)
 123,629 10,883,985
Kolon Corp.(c)
 64,529 2,813,547
Kolon Industries Inc.(c)
 129,852 7,974,584
Kolon Life Science Inc.(a)(c)
 77,794 5,015,709
Komipharm International Co. Ltd.(a)(c)
 345,795 9,431,210
Korea Aerospace Industries Ltd.(a)(c)
 571,734 23,337,164
Korea Electric Power Corp.
 1,958,432 60,227,303
Korea Gas Corp.(a)
 196,635 10,999,666
Korea Investment Holdings Co. Ltd.
 321,860 28,037,158
Korea Kolmar Co. Ltd.(c)
 127,650 9,130,122
Korea Line Corp.(a)(c)
 123,622 2,889,999
Korea Petrochemical Ind. Co Ltd.
 27,768 6,504,402
Korea REIT Co. Ltd.
 1,772,209 4,800,640
Korea Zinc Co. Ltd.
 65,001 24,451,881
Korean Air Lines Co. Ltd.
 361,312 10,709,141
Korean Reinsurance Co.
 790,668 9,315,352
KT Corp.
 51,660 1,293,956
KT Skylife Co. Ltd.
 299,885 3,574,862
KT&G Corp.
 909,639 81,010,570
Kukdo Chemical Co. Ltd.
 86,229 5,175,580
Kumho Industrial Co. Ltd.(c)
 301,609 3,791,272
Kumho Petrochemical Co. Ltd.(c)
 143,611 13,988,733
Kumho Tire Co. Inc.(a)(c)
 884,200 4,995,388
Kwang Dong Pharmaceutical Co. Ltd.(c)
 605,269 4,520,076
Kwangju Bank Co. Ltd.(c)
 394,473 4,007,124
 
 
  
12

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Korea (continued)
L&F Co. Ltd.(c)
       129,711 $      5,878,178
LF Corp.
       176,850       4,733,172
LG Chem Ltd.
       363,121     114,027,978
LG Corp.
       741,912      50,518,429
LG Display Co. Ltd.
     1,818,993      37,461,519
LG Electronics Inc.
       837,392      71,935,154
LG Hausys Ltd.
        63,008       4,167,606
LG Household & Health Care Ltd.
        74,925      93,347,813
LG Innotek Co. Ltd.(c)
 119,936 16,021,879
LG International Corp.
 257,814 6,302,147
LIG Nex1 Co. Ltd.(c)
 107,043 5,064,421
Lock&Lock Co. Ltd.
 186,745 4,123,133
Lotte Chemical Corp.
 129,436 44,248,032
Lotte Confectionery Co. Ltd.(c)
 19,760 3,354,590
Lotte Corp.(a)
 248,013 13,482,594
LOTTE Fine Chemical Co. Ltd.
 155,999 9,927,670
Lotte Food Co. Ltd.(c)
 5,891 3,858,292
LOTTE Himart Co. Ltd.
 70,150 5,121,578
Lotte Shopping Co. Ltd.
 85,550 17,777,448
LS Corp.
 145,779 11,562,785
LS Industrial Systems Co. Ltd.
 130,492 9,345,501
Maeil Dairies Co. Ltd.
 55,929 4,529,525
Mando Corp.(c)
 272,135 9,706,935
Medipost Co. Ltd.(a)(c)
 76,438 7,275,420
Medy-Tox Inc.
 35,840 25,055,915
Meritz Fire & Marine Insurance Co. Ltd.
 499,918 9,507,230
Meritz Securities Co. Ltd.
 3,187,629 12,079,841
Mirae Asset Daewoo Co. Ltd.(c)
 3,046,938 26,570,079
Modetour Network Inc.
 203,740 6,360,083
Muhak Co. Ltd.
 186,136 2,857,786
Namhae Chemical Corp.(c)
 258,867 4,490,758
Namyang Dairy Products Co. Ltd.
 5,335 3,241,732
Naturalendo Tech Co. Ltd.(a)(c)
 115,946 1,683,339
NAVER Corp.
 220,085 136,589,698
NCSoft Corp.(c)
 138,807 45,455,606
Netmarble Corp.(b)(c)
 202,315 29,466,538
Nexen Corp.
 452,516 2,938,552
Nexen Tire Corp.
 336,473 3,511,593
NH Investment & Securities Co. Ltd.
 1,048,989 15,424,162
NHN Entertainment Corp.(a)(c)
 94,099 5,787,619
NHN KCP Corp.(a)(c)
 189,984 2,485,064
NICE Holdings Co. Ltd.
 246,549 4,517,225
NICE Information Service Co. Ltd.
 439,420 4,973,258
Nong Shim Holdings Co. Ltd.(c)
 34,969 3,503,550
NongShim Co. Ltd.
 25,679 7,765,995
NS Shopping Co. Ltd.
 244,677 3,041,581
NUTRIBIOTECH Co. Ltd.(a)(c)
 145,917 3,221,694
OCI Co. Ltd.
 143,136 17,594,063
Orion Corp./Republic of Korea
 169,349 20,344,817
Orion Holdings Corp.(c)
 180,449 4,009,234
Osstem Implant Co. Ltd.(a)(c)
 108,900 5,081,562
Ottogi Corp.
 10,780 8,100,376
Pan Ocean Co. Ltd.(a)(c)
 1,917,653 9,001,646
Paradise Co. Ltd.(c)
 423,390 7,619,802
Partron Co. Ltd.(c)
 369,988 2,629,165
Pearl Abyss Corp.(a)
 41,709 8,651,730
Poongsan Corp.
 198,623 6,624,145
POSCO
 591,803 186,388,161
POSCO Chemtech Co. Ltd.
 200,792 8,326,362
Posco Daewoo Corp.
 370,089 7,862,181
 Security Shares Value
South Korea (continued)
Posco ICT Co. Ltd.(c)
       459,575 $      3,005,709
S&T Motiv Co. Ltd.(c)
       117,045       3,360,585
S-1 Corp.
       135,651      11,124,401
Samchully Co. Ltd.
        26,644       2,842,488
Samjin Pharmaceutical Co. Ltd.
       160,235       7,112,802
Samsung Biologics Co. Ltd.(a)(b)(c)
       134,940      54,454,195
Samsung C&T Corp.
       600,961      69,966,701
Samsung Card Co. Ltd.
       193,416       6,656,833
Samsung Electro-Mechanics Co. Ltd.
 442,637 55,024,220
Samsung Electronics Co. Ltd.
 37,836,079 1,779,571,599
Samsung Engineering Co. Ltd.(a)
 1,233,038 21,104,459
Samsung Fire & Marine Insurance Co. Ltd.
 241,901 56,214,296
Samsung Heavy Industries Co. Ltd.(a)
 3,089,621 21,467,843
Samsung Life Insurance Co. Ltd.
 553,614 52,898,782
Samsung SDI Co. Ltd.
 439,899 81,821,745
Samsung SDS Co. Ltd.
 278,303 54,475,563
Samsung Securities Co. Ltd.
 475,139 16,264,789
Samyang Corp.(c)
 40,585 3,219,089
Samyang Holdings Corp.(c)
 39,489 4,194,527
Sangsangin Co. Ltd.(a)(c)
 289,537 5,895,762
Seah Besteel Corp.
 130,976 2,843,210
Sebang Global Battery Co. Ltd.
 118,468 3,599,264
Seegene Inc.(a)
 181,598 5,323,528
Seobu T&D(a)(c)
 435,198 4,178,579
Seoul Semiconductor Co. Ltd.(c)
 346,812 6,579,438
SFA Engineering Corp.
 168,988 5,706,353
Shinhan Financial Group Co. Ltd.
 3,253,052 132,029,338
Shinsegae Food Co. Ltd.(c)
 27,238 4,118,738
Shinsegae Inc.
 60,766 24,747,228
Shinsegae International Inc.(c)
 34,151 5,385,843
Silicon Works Co. Ltd.
 117,749 4,249,210
SillaJen Inc.(a)(c)
 427,802 31,947,735
Sindoh Co. Ltd.
 73,210 3,640,295
SK Chemicals Co. Ltd.(a)
 80,384 6,629,378
SK Discovery Co. Ltd.
 1 37
SK Gas Ltd.(c)
 46,870 4,348,068
SK Holdings Co. Ltd.
 261,550 67,210,307
SK Hynix Inc.
 4,582,633 397,066,582
SK Innovation Co. Ltd.
 507,113 96,911,061
SK Materials Co. Ltd.(c)
 51,810 8,021,790
SK Networks Co. Ltd.
 1,195,293 5,505,478
SK Securities Co. Ltd.(a)(c)
 3,539,100 3,808,485
SK Telecom Co. Ltd.
 155,253 31,973,808
SKC Co. Ltd.
 184,857 6,628,065
SKCKOLONPI Inc.(c)
 132,725 5,466,849
SL Corp.
 166,634 2,882,995
SM Entertainment Co. Ltd.(a)(c)
 211,958 8,170,003
S-Oil Corp.
 355,611 35,463,781
Songwon Industrial Co. Ltd.
 178,231 4,472,516
Soulbrain Co. Ltd.(c)
 86,423 5,612,143
SPC Samlip Co. Ltd.
 27,088 2,776,774
Ssangyong Cement Industrial Co. Ltd.
 248,515 7,780,863
Ssangyong Motor Co.(a)(c)
 657,286 2,798,778
Sungwoo Hitech Co. Ltd.(c)
 473,414 2,231,034
Taekwang Industrial Co. Ltd.
 3,683 4,243,505
Taewoong Co. Ltd.(a)(c)
 120,049 2,071,442
Taeyoung Engineering & Construction Co. Ltd.(c)
 505,937 8,049,371
Telcon RF Pharmaceutical Inc.(a)(c)
 541,750 5,955,506
Tera Resource Co. Ltd.(a)(d)
 49,111 —
Tongyang Inc.(c)
 1,728,154 3,446,849
 
 
13
  

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Korea (continued)
Tongyang Life Insurance Co. Ltd.
       456,315 $      3,014,020
Toptec Co. Ltd.(a)(c)
       186,602       4,665,266
Value Added Technology Co. Ltd.(c)
       107,753       3,568,609
Vieworks Co. Ltd.
        79,529       2,342,452
ViroMed Co. Ltd.(a)(c)
       114,912      28,249,622
Webzen Inc.(a)(c)
       156,041       3,988,060
Wonik Holdings Co. Ltd.(a)
       369,343       2,244,257
WONIK IPS Co. Ltd.
       187,318       5,925,640
Woori Bank
 3,591,572 50,977,366
YG Entertainment Inc.(c)
 160,042 4,305,597
Youlchon Chemical Co. Ltd.
 308,969 4,141,752
Youngone Corp.
 192,563 5,689,625
Youngone Holdings Co. Ltd.
 76,965 3,912,688
Yuanta Securities Korea Co. Ltd.(a)(c)
 844,771 3,409,021
Yuhan Corp.
 69,141 15,265,604
Yungjin Pharmaceutical Co. Ltd.(a)(c)
 919,399 6,985,368
    7,273,687,748
Taiwan — 12.3%
AcBel Polytech Inc.(c)
 5,324,000 3,465,047
Accton Technology Corp.(c)
 4,124,000 11,878,618
Acer Inc.(c)
 22,953,872 18,808,056
A-DATA Technology Co. Ltd.(c)
 2,068,820 4,667,731
Advanced Ceramic X Corp.(c)
 396,000 3,548,754
Advanced Wireless Semiconductor Co.(c)
 1,700,000 3,744,806
Advantech Co. Ltd.(c)
 2,600,165 17,617,058
Airtac International Group(c)
 935,880 16,086,584
Alpha Networks Inc.(c)
 4,242,700 3,037,429
AmTRAN Technology Co. Ltd.(c)
 7,913,000 3,393,757
Ardentec Corp.
 5,229,546 6,047,887
ASE Industrial Holding Co. Ltd.
 27,925,222 70,834,800
Asia Cement Corp.
 17,762,050 19,593,003
Asia Optical Co. Inc.(c)
 2,401,000 7,588,896
Asia Pacific Telecom Co. Ltd.(a)
 18,721,000 5,023,675
Asia Polymer Corp.(c)
 9,123,977 5,542,325
Asustek Computer Inc.
 5,296,000 47,990,388
AU Optronics Corp.(c)
 65,565,000 28,776,255
Bank of Kaohsiung Co. Ltd.(c)
 19,872,149 6,214,710
BES Engineering Corp.(c)
 19,306,000 5,199,987
Bizlink Holding Inc.(c)
 1,074,926 7,570,028
Brogent Technologies Inc.(c)
 358,799 2,562,722
Capital Securities Corp.
 20,779,000 7,871,490
Casetek Holdings Ltd.(c)
 1,663,485 4,175,161
Catcher Technology Co. Ltd.
 5,125,000 59,611,919
Cathay Financial Holding Co. Ltd.
 63,937,078 114,381,035
Cathay Real Estate Development Co. Ltd.(c)
 6,983,900 4,172,415
Center Laboratories Inc.(a)(c)
 3,059,409 7,035,472
Chailease Holding Co. Ltd.
 9,026,945 32,237,475
Chang Hwa Commercial Bank Ltd.
 40,612,470 23,788,824
Cheng Loong Corp.(c)
 10,109,000 6,022,584
Cheng Shin Rubber Industry Co. Ltd.(c)
 15,868,650 24,151,342
Cheng Uei Precision Industry Co. Ltd.(c)
 3,305,000 3,910,427
Chicony Electronics Co. Ltd.
 3,884,326 9,178,789
China Airlines Ltd.(a)
 21,404,000 7,250,992
China Bills Finance Corp.(c)
 13,817,000 6,502,335
China Development Financial Holding Corp.
 112,024,000 42,062,981
China Life Insurance Co. Ltd./Taiwan
 24,271,622 25,477,446
China Man-Made Fiber Corp.(a)
 16,539,550 5,741,078
China Metal Products(c)
 3,415,146 3,391,038
China Motor Corp.
 4,945,000 4,802,814
China Petrochemical Development Corp.(a)
 20,851,900 9,604,199
 Security Shares Value
Taiwan (continued)
China Steel Chemical Corp.(c)
     1,552,000 $      8,054,870
China Steel Corp.(c)
    97,166,529      76,535,891
China Synthetic Rubber Corp.(c)
     5,993,005       9,631,133
Chin-Poon Industrial Co. Ltd.(c)
     2,434,000       3,225,132
Chipbond Technology Corp.(c)
     5,494,000      11,552,225
Chlitina Holding Ltd.
       525,000       4,774,878
Chong Hong Construction Co. Ltd.
     1,952,122       6,098,447
Chroma ATE Inc.(c)
     3,158,000      15,757,589
Chunghwa Precision Test Tech Co. Ltd.(c)
 178,000 4,794,353
Chunghwa Telecom Co. Ltd.
 28,916,000 105,196,469
Cleanaway Co. Ltd.(c)
 747,000 4,799,409
Clevo Co.
 3,870,175 4,191,619
CMC Magnetics Corp.(a)(c)
 33,729,566 11,257,636
Compal Electronics Inc.
 30,156,000 19,827,886
Compeq Manufacturing Co. Ltd.(c)
 8,981,000 10,071,645
Concraft Holding Co. Ltd.(c)
 384,000 3,793,669
Continental Holdings Corp.(c)
 9,384,600 4,134,530
Coretronic Corp.
 3,592,200 4,963,606
CSBC Corp. Taiwan(a)
 8,299,000 5,041,196
CTBC Financial Holding Co. Ltd.
 136,493,599 98,401,673
CTCI Corp.(c)
 5,176,000 8,490,910
Cub Elecparts Inc.(c)
 417,067 4,969,475
Darwin Precisions Corp.(c)
 4,562,000 4,034,945
Delta Electronics Inc.
 15,767,000 58,412,863
Depo Auto Parts Ind. Co. Ltd.(c)
 1,068,000 2,912,257
E Ink Holdings Inc.
 7,130,000 8,150,543
E.Sun Financial Holding Co. Ltd.
 71,837,926 50,111,398
Eclat Textile Co. Ltd.
 1,265,683 15,461,174
Egis Technology Inc.(a)(c)
 649,000 3,454,951
Elan Microelectronics Corp.
 3,521,000 5,699,598
Elite Advanced Laser Corp.
 1,139,560 4,050,636
Elite Material Co. Ltd.(c)
 2,184,000 5,846,062
Elite Semiconductor Memory Technology Inc.(c)
 3,811,000 5,316,817
Ennoconn Corp.(c)
 452,000 7,354,438
Epistar Corp.(a)(c)
 8,152,000 11,046,550
Eternal Materials Co. Ltd.
 7,698,145 7,553,876
Eva Airways Corp.
 15,272,963 7,722,757
Evergreen Marine Corp. Taiwan Ltd.(a)
 16,775,808 8,314,695
Everlight Chemical Industrial Corp.(c)
 7,940,781 5,115,134
Everlight Electronics Co. Ltd.(c)
 3,181,000 4,289,251
Far Eastern Department Stores Ltd.(c)
 8,270,167 5,465,324
Far Eastern International Bank(c)
 20,078,201 6,734,840
Far Eastern New Century Corp.
 22,210,916 21,164,550
Far EasTone Telecommunications Co. Ltd.
 12,373,000 31,550,396
Faraday Technology Corp.(c)
 2,369,000 5,012,920
Farglory Land Development Co. Ltd.
 2,351,782 2,633,456
Feng Hsin Steel Co. Ltd.
 3,895,000 7,644,010
Feng TAY Enterprise Co. Ltd.(c)
 2,466,506 10,948,894
Firich Enterprises Co. Ltd.(c)
 2,541,798 4,318,126
First Financial Holding Co. Ltd.
 73,305,052 49,789,156
FLEXium Interconnect Inc.(c)
 2,712,616 7,858,587
Formosa Chemicals & Fibre Corp.
 25,385,210 97,435,013
Formosa Petrochemical Corp.
 9,961,000 40,393,889
Formosa Plastics Corp.
 33,129,800 118,867,663
Formosa Taffeta Co. Ltd.
 4,460,000 4,964,404
Foxconn Technology Co. Ltd.(c)
 7,026,424 17,307,214
Foxsemicon Integrated Technology Inc.(c)
 585,000 4,119,787
Fubon Financial Holding Co. Ltd.
 49,770,000 86,544,966
General Interface Solution Holding Ltd.(c)
 1,404,000 8,973,716
Genius Electronic Optical Co. Ltd.(a)(c)
 556,000 8,313,602
 
 
  
14

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Taiwan (continued)
Getac Technology Corp.
     4,085,000 $      5,903,593
Giant Manufacturing Co. Ltd.
     2,337,000      10,140,013
Gigabyte Technology Co. Ltd.(c)
     4,107,000      10,842,705
Gigasolar Materials Corp.(c)
       372,800       2,264,560
Ginko International Co. Ltd.(c)
       470,000       4,219,749
Gintech Energy Corp.(a)(c)
     5,625,762       2,844,660
Global Unichip Corp.(c)
       717,000       6,102,331
Globalwafers Co. Ltd.(c)
     1,780,000      35,229,878
Gloria Material Technology Corp.(c)
 7,719,048 4,933,657
Goldsun Building Materials Co. Ltd.(a)(c)
 15,259,000 4,843,319
Gourmet Master Co. Ltd.(c)
 582,855 6,050,028
Grand Pacific Petrochemical
 8,909,000 9,544,879
Grape King Bio Ltd.(c)
 1,038,000 8,002,870
Great Wall Enterprise Co. Ltd.(c)
 5,393,500 6,975,556
Greatek Electronics Inc.
 3,461,000 6,272,460
HannStar Display Corp.(c)
 22,077,640 6,874,969
Highwealth Construction Corp.(c)
 6,514,230 9,870,869
Hiwin Technologies Corp.(c)
 1,742,621 24,718,853
Ho Tung Chemical Corp.(a)
 20,855,920 6,076,871
Holy Stone Enterprise Co. Ltd.(c)
 1,350,330 9,419,387
Hon Hai Precision Industry Co. Ltd.
 128,109,410 366,436,141
Hota Industrial Manufacturing Co. Ltd.(c)
 2,050,216 9,922,111
Hotai Motor Co. Ltd.(c)
 2,185,000 19,945,513
HTC Corp.(a)(c)
 5,363,000 10,489,188
Hu Lane Associate Inc.
 642,000 3,096,274
Hua Nan Financial Holdings Co. Ltd.
 56,968,182 34,034,693
Huaku Development Co. Ltd.
 2,815,000 6,670,727
Hung Sheng Construction Ltd.
 7,758,000 10,201,932
IEI Integration Corp.(c)
 3,397,582 3,861,211
Innolux Corp.(c)
 70,363,241 27,242,081
International Games System Co. Ltd.(c)
 586,000 3,735,661
Inventec Corp.
 19,832,000 16,051,466
ITEQ Corp.
 2,845,000 6,096,123
Kenda Rubber Industrial Co. Ltd.(c)
 4,016,889 4,518,104
Kerry TJ Logistics Co. Ltd.(c)
 3,213,000 4,187,629
Kindom Construction Corp.(c)
 5,217,000 3,682,711
King Slide Works Co. Ltd.(c)
 426,000 6,227,592
King Yuan Electronics Co. Ltd.
 8,910,000 8,356,424
King's Town Bank Co. Ltd.
 8,308,000 9,705,122
Kinpo Electronics(c)
 16,253,000 5,392,080
Kinsus Interconnect Technology Corp.(c)
 2,230,000 4,279,659
LandMark Optoelectronics Corp.(c)
 408,900 4,094,254
Largan Precision Co. Ltd.(c)
 794,000 108,652,771
LCY Chemical Corp.
 4,726,000 7,247,958
Lealea Enterprise Co. Ltd.(a)(c)
 13,906,173 5,267,929
Lien Hwa Industrial Corp.(c)
 6,698,405 8,562,619
Lite-On Technology Corp.
 16,759,238 21,870,941
Long Chen Paper Co. Ltd.(c)
 5,159,000 5,725,239
Lotes Co. Ltd.
 485,000 3,075,614
Macronix International(a)(c)
 14,514,000 23,978,873
Makalot Industrial Co. Ltd.
 1,649,208 7,458,495
Masterlink Securities Corp.(c)
 18,317,344 6,663,854
MediaTek Inc.
 11,875,572 123,466,471
Mega Financial Holding Co. Ltd.
 83,048,958 72,761,215
Merida Industry Co. Ltd.(c)
 1,709,850 7,304,734
Merry Electronics Co. Ltd.(c)
 1,493,070 7,300,528
Microbio Co. Ltd.(a)
 6,761,141 4,603,484
Micro-Star International Co. Ltd.
 5,399,000 22,524,740
Mitac Holdings Corp.(c)
 5,877,560 6,454,007
Motech Industries Inc.(a)(c)
 5,445,948 3,598,944
 Security Shares Value
Taiwan (continued)
Nan Kang Rubber Tire Co. Ltd.(c)
     5,220,000 $      4,573,369
Nan Ya Plastics Corp.
    37,731,440     105,405,989
Nan Ya Printed Circuit Board Corp.(c)
     2,244,000       1,891,127
Nanya Technology Corp.
     8,256,000      27,445,141
Neo Solar Power Corp.(a)(c)
    10,547,806       4,083,726
Nien Made Enterprise Co. Ltd.(c)
     1,131,000       8,965,255
Novatek Microelectronics Corp.
     4,193,000      18,962,719
OBI Pharma Inc.(a)
       901,000       4,871,652
Oriental Union Chemical Corp.
 5,516,000 6,010,961
Pan-International Industrial Corp.(c)
 3,483,366 2,714,704
Parade Technologies Ltd.(c)
 528,000 8,793,685
PChome Online Inc.(c)
 830,070 4,017,160
Pegatron Corp.
 15,015,000 31,722,360
PharmaEngine Inc.(c)
 822,793 3,666,134
PharmaEssentia Corp.(a)
 1,215,000 7,218,263
Pharmally International Holding Co. Ltd.
 335,704 4,319,340
Phison Electronics Corp.
 1,045,000 9,608,915
Pixart Imaging Inc.
 1,490,000 5,370,893
Pou Chen Corp.
 15,928,000 19,510,292
Powertech Technology Inc.
 5,183,000 15,465,187
Poya International Co. Ltd.(c)
 416,447 4,420,011
President Chain Store Corp.
 4,575,000 46,877,660
President Securities Corp.(a)(c)
 12,029,135 5,861,702
Primax Electronics Ltd.
 3,686,000 7,172,331
Prince Housing & Development Corp.(c)
 11,352,995 4,357,574
Qisda Corp.(c)
 15,638,000 11,065,053
Quanta Computer Inc.(c)
 20,426,000 36,132,303
Radiant Opto-Electronics Corp.(c)
 3,628,000 7,604,372
Radium Life Tech Co. Ltd.(a)
 13,015,196 4,626,332
Realtek Semiconductor Corp.
 3,608,110 13,788,649
Ritek Corp.(a)
 17,799,503 9,148,819
Ruentex Development Co. Ltd.(a)(c)
 8,013,986 9,669,262
Ruentex Industries Ltd.(c)
 4,814,906 9,851,100
Sanyang Motor Co. Ltd.(c)
 5,840,000 4,229,695
ScinoPharm Taiwan Ltd.(c)
 2,326,027 2,655,078
Sercomm Corp.
 2,166,000 5,002,660
Shin Kong Financial Holding Co. Ltd.(c)
 65,669,443 26,301,531
Shin Zu Shing Co. Ltd.(c)
 1,112,000 3,247,501
Shining Building Business Co. Ltd.(a)
 8,723,281 3,493,796
Shinkong Synthetic Fibers Corp.(c)
 15,006,000 5,459,186
Sigurd Microelectronics Corp.(c)
 6,332,000 7,904,037
Silergy Corp.(c)
 454,000 10,394,807
Simplo Technology Co. Ltd.
 1,107,400 6,948,624
Sinbon Electronics Co. Ltd.(c)
 2,253,809 6,078,059
Sino-American Silicon Products Inc.
 4,383,000 20,626,571
SinoPac Financial Holdings Co. Ltd.
 76,575,746 28,369,433
Sinyi Realty Inc.(c)
 3,226,087 4,479,256
Sitronix Technology Corp.(c)
 1,247,000 3,795,751
Soft-World International Corp.(c)
 1,450,000 4,195,885
St. Shine Optical Co. Ltd.(c)
 348,000 9,291,925
Standard Foods Corp.
 4,619,096 9,435,064
Sunny Friend Environmental Technology Co. Ltd.(c)
 672,000 4,485,757
Synnex Technology International Corp.
 9,781,250 15,670,110
TA Chen Stainless Pipe(c)
 8,986,099 9,747,450
Taichung Commercial Bank Co. Ltd.(c)
 21,983,200 7,557,264
Taigen Biopharmaceuticals Holdings Ltd.(a)(c)
 3,139,000 2,372,990
TaiMed Biologics Inc.(a)(c)
 1,600,000 16,821,588
Tainan Spinning Co. Ltd.(c)
 9,954,894 5,050,294
Taishin Financial Holding Co. Ltd.
 72,964,448 35,920,285
Taiwan Business Bank
 32,289,718 9,861,019
 
 
15
  

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Taiwan (continued)
Taiwan Cement Corp.
    28,522,000 $     41,505,238
Taiwan Cogeneration Corp.(c)
     5,364,000       5,030,736
Taiwan Cooperative Financial Holding Co. Ltd.
    61,649,966      36,317,337
Taiwan Fertilizer Co. Ltd.(c)
     4,134,000       5,960,609
Taiwan Glass Industry Corp.(a)(c)
    10,617,053       6,467,007
Taiwan High Speed Rail Corp.
    13,548,000      10,467,974
Taiwan Hon Chuan Enterprise Co. Ltd.
     3,186,674       5,466,851
Taiwan Mobile Co. Ltd.
    12,178,000      44,710,045
Taiwan Paiho Ltd.(c)
 2,123,000 5,016,718
Taiwan PCB Techvest Co. Ltd.
 161,000 150,191
Taiwan Secom Co. Ltd.(c)
 2,375,185 7,174,348
Taiwan Semiconductor Co. Ltd.(c)
 3,134,000 8,922,457
Taiwan Semiconductor Manufacturing Co. Ltd.
 194,243,000 1,452,211,405
Taiwan Shin Kong Security Co. Ltd.(c)
 4,908,770 6,283,108
Taiwan TEA Corp.(c)
 8,952,000 4,631,143
Tatung Co. Ltd.(a)(c)
 16,725,000 12,587,779
TCI Co. Ltd.
 680,000 8,919,447
Teco Electric and Machinery Co. Ltd.
 15,404,000 12,416,154
Test Research Inc.
 2,302,400 4,941,152
Test Rite International Co. Ltd.(c)
 7,761,000 6,087,262
Ton Yi Industrial Corp.(c)
 8,388,000 3,597,477
Tong Hsing Electronic Industries Ltd.
 1,147,000 4,498,189
Tong Yang Industry Co. Ltd.
 3,246,400 5,482,631
Topco Scientific Co. Ltd.(c)
 1,971,639 5,376,330
TPK Holding Co. Ltd.(a)(c)
 2,601,000 5,581,974
Transcend Information Inc.(c)
 1,568,000 4,495,476
Tripod Technology Corp.
 3,735,000 10,571,166
TSRC Corp.(c)
 5,511,900 5,794,932
TTY Biopharm Co. Ltd.
 2,004,124 6,488,328
Tung Ho Steel Enterprise Corp.(c)
 7,724,000 6,200,030
Tung Thih Electronic Co. Ltd.(c)
 405,000 1,378,769
TWi Pharmaceuticals Inc.(a)(c)
 874,000 2,473,681
TXC Corp.
 3,420,000 4,274,786
U-Ming Marine Transport Corp.
 4,883,000 5,598,219
Unimicron Technology Corp.(c)
 11,313,000 6,343,421
Uni-President Enterprises Corp.
 37,906,369 92,483,873
United Integrated Services Co. Ltd.
 3,003,000 6,434,678
United Microelectronics Corp.(c)
 94,245,000 52,373,187
UPC Technology Corp.(c)
 11,109,099 7,600,972
USI Corp.(c)
 10,329,040 5,119,445
Vanguard International Semiconductor Corp.
 6,780,000 14,844,651
Visual Photonics Epitaxy Co. Ltd.(c)
 2,025,000 7,299,368
Voltronic Power Technology Corp.(c)
 371,974 5,890,949
Wafer Works Corp.(a)(c)
 4,260,000 9,938,554
Wah Lee Industrial Corp.
 2,241,000 4,233,453
Walsin Lihwa Corp.(c)
 24,066,000 20,120,932
Walsin Technology Corp.
 2,583,597 33,414,343
Waterland Financial Holdings Co. Ltd.
 24,832,938 8,661,255
Win Semiconductors Corp.
 2,866,427 23,295,729
Winbond Electronics Corp.(c)
 24,856,480 16,633,761
Wistron Corp.(c)
 21,136,825 15,908,262
Wistron NeWeb Corp.
 2,325,736 5,557,889
Wowprime Corp.(c)
 664,260 2,316,812
WPG Holdings Ltd.
 10,974,000 15,932,747
WT Microelectronics Co. Ltd.
 4,139,734 6,286,664
XinTec Inc.(a)(c)
 1,572,000 3,719,934
XPEC Entertainment Inc.(a)(d)
 31,000 —
Yageo Corp.(c)
 1,691,370 53,685,325
Yang Ming Marine Transport Corp.(a)
 11,342,677 3,592,677
Yeong Guan Energy Technology Group Co. Ltd.(c)
 975,937 2,175,879
 Security Shares Value
Taiwan (continued)
YFY Inc.(a)
    12,853,000 $      5,598,239
Yieh Phui Enterprise Co. Ltd.(c)
    13,125,900       4,446,636
Yuanta Financial Holding Co. Ltd.
    81,133,912      38,181,939
Yulon Finance Corp.
     1,847,000       7,582,431
Yulon Motor Co. Ltd.(c)
     7,415,000       5,865,377
YungShin Global Holding Corp.(c)
     3,318,650       4,502,549
Yungtay Engineering Co. Ltd.
     3,572,000       5,960,983
Zhen Ding Technology Holding Ltd.(c)
     3,101,950       7,009,062
Zinwell Corp.(c)
 3,569,000 3,138,800
    6,074,708,731
Thailand — 2.5%
Advanced Info Service PCL, NVDR
 8,239,200 49,064,320
Airports of Thailand PCL, NVDR
 34,395,000 73,649,812
Amata Corp. PCL, NVDR(c)
 7,234,800 5,201,638
AP Thailand PCL, NVDR(c)
 20,286,890 5,834,304
Bangchak Corp. PCL, NVDR(c)
 4,464,000 5,058,456
Bangkok Airways PCL, NVDR(c)
 6,843,300 3,230,192
Bangkok Bank PCL
 1,840,500 11,103,986
Bangkok Chain Hospital PCL, NVDR
 14,172,050 7,265,446
Bangkok Dusit Medical Services PCL, NVDR
 30,917,500 25,853,177
Bangkok Expressway & Metro PCL, NVDR
 70,947,485 18,185,976
Bangkok Land PCL, NVDR
 112,698,500 7,045,858
Banpu PCL, NVDR(c)
 17,939,300 11,776,346
Beauty Community PCL, NVDR(c)
 19,459,100 10,645,022
Berli Jucker PCL, NVDR
 10,320,400 18,388,959
BTS Group Holdings PCL, NVDR
 55,739,100 16,901,196
Bumrungrad Hospital PCL, NVDR
 2,886,900 17,371,937
Central Pattana PCL, NVDR
 11,358,300 27,073,160
Charoen Pokphand Foods PCL, NVDR
 25,932,700 20,266,255
Chularat Hospital PCL, NVDR(c)
 62,199,600 4,510,881
CP ALL PCL, NVDR
 40,795,900 102,978,085
Delta Electronics Thailand PCL, NVDR(c)
 4,208,000 8,484,401
Dynasty Ceramic PCL, NVDR(c)
 38,709,220 2,516,886
Eastern Polymer Group PCL, NVDR(c)
 10,655,300 2,464,808
Electricity Generating PCL, NVDR
 1,113,000 8,384,901
Energy Absolute PCL, NVDR
 10,892,900 13,194,744
Esso Thailand PCL, NVDR
 12,179,200 5,596,569
Glow Energy PCL, NVDR
 3,864,900 10,269,350
Gunkul Engineering PCL, NVDR(c)
 29,426,835 2,998,796
Hana Microelectronics PCL, NVDR(c)
 5,343,100 5,720,574
Home Product Center PCL, NVDR
 40,031,574 18,270,115
Indorama Ventures PCL, NVDR
 13,547,500 24,668,392
Inter Far East Energy Corp., NVDR(a)(c)(d)
 7,049,000 2
IRPC PCL, NVDR
 84,889,300 17,513,891
Italian-Thai Development PCL, NVDR(a)(c)
 23,715,800 2,624,380
Jasmine International PCL, NVDR(c)
 23,357,400 4,234,852
Kasikornbank PCL
 9,614,200 58,604,845
Kasikornbank PCL, NVDR
 4,583,200 27,436,161
KCE Electronics PCL, NVDR(c)
 3,885,700 3,947,648
Khon Kaen Sugar Industry PCL, NVDR(c)
 17,499,086 1,805,157
Kiatnakin Bank PCL, NVDR
 3,598,600 7,733,784
Krung Thai Bank PCL, NVDR
 26,461,700 14,475,766
Krungthai Card PCL, NVDR
 288,700 3,149,619
LPN Development PCL, NVDR(c)
 8,759,200 2,655,962
Major Cineplex Group PCL, NVDR(c)
 4,608,400 3,889,553
Minor International PCL, NVDR
 17,742,660 18,025,522
Muangthai Capital PCL, NVDR(c)
 7,341,200 7,171,382
PTG Energy PCL, NVDR(c)
 7,366,700 4,352,317
PTT Exploration & Production PCL, NVDR
 11,369,101 47,800,690
PTT Global Chemical PCL, NVDR
 17,354,600 48,418,195
 
 
  
16

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Thailand (continued)
PTT PCL, NVDR
    83,204,000 $    135,899,000
Quality Houses PCL, NVDR(c)
    49,241,017       5,017,997
Robinson PCL, NVDR
     4,738,600       9,332,035
Siam Cement PCL (The), NVDR
     3,120,600      43,506,958
Siam Commercial Bank PCL (The), NVDR
    13,718,300      57,034,508
Siam Global House PCL, NVDR(c)
    16,988,365       8,815,469
Singha Estate PCL, NVDR(a)(c)
    25,494,400       2,725,566
Sino-Thai Engineering & Construction PCL, NVDR(a)(c)
     7,855,828       5,549,913
Sri Trang Agro-Industry PCL, NVDR(c)
 9,018,360 3,523,898
Srisawad Corp PCL, NVDR(c)
 5,984,381 6,594,230
Supalai PCL, NVDR(a)(c)
 7,336,500 5,790,767
Super Energy Corp. PCL, NVDR(a)(c)
 136,642,200 6,321,677
Thai Airways International PCL, NVDR(a)
 6,309,000 3,096,321
Thai Oil PCL, NVDR
 8,394,800 24,142,595
Thai Union Group PCL, NVDR
 16,929,500 9,155,372
Thai Vegetable Oil PCL, NVDR
 5,134,600 4,975,699
Thanachart Capital PCL, NVDR
 5,678,600 9,141,854
Thoresen Thai Agencies PCL, NVDR(c)
 12,982,223 3,185,697
TICON Industrial Connection PCL, NVDR(c)
 364,100 193,489
Tisco Financial Group PCL, NVDR
 3,262,550 8,464,884
TMB Bank PCL, NVDR
 119,740,800 9,282,813
True Corp. PCL, NVDR
 91,687,711 20,492,877
TTW PCL, NVDR(c)
 15,603,300 6,048,169
Unique Engineering & Construction PCL, NVDR(c)
 7,419,100 3,409,214
VGI Global Media PCL, NVDR(c)
 29,042,400 7,035,905
Vibhavadi Medical Center PCL, NVDR
 53,583,300 4,321,504
WHA Corp. PCL, NVDR
 77,225,100 10,621,771
    1,231,494,450
Turkey — 0.8%
AG Anadolu Grubu Holding AS(c)
 692,219 3,432,529
Akbank Turk AS
 16,736,180 29,618,293
Aksa Akrilik Kimya Sanayii AS
 1,052,988 2,678,042
Albaraka Turk Katilim Bankasi AS(c)
 10,857,048 3,254,159
Anadolu Efes Biracilik Ve Malt Sanayii AS
 1,752,959 9,735,549
Arcelik AS
 2,287,669 8,379,389
Aselsan Elektronik Sanayi Ve Ticaret AS(c)
 1,824,096 9,487,414
BIM Birlesik Magazalar AS
 1,777,030 27,120,812
Cimsa Cimento Sanayi VE Ticaret AS(c)
 905,465 2,235,002
Coca-Cola Icecek AS
 751,419 5,902,120
Emlak Konut Gayrimenkul Yatirim Ortakligi AS
 24,547,490 11,198,648
Eregli Demir ve Celik Fabrikalari TAS
 11,714,678 28,993,341
Ford Otomotiv Sanayi AS
 626,980 8,843,452
Haci Omer Sabanci Holding AS
 6,769,992 13,920,600
Is Gayrimenkul Yatirim Ortakligi AS
 832,047 183,373
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D(a)
 8,533,068 8,951,593
KOC Holding AS
 5,697,870 17,542,726
Koza Altin Isletmeleri AS(a)(c)
 388,748 4,093,572
Koza Anadolu Metal Madencilik Isletmeleri AS(a)(c)
 1,869,460 3,481,457
Otokar Otomotiv Ve Savunma Sanayi AS(c)
 118,497 2,017,409
Petkim Petrokimya Holding AS
 6,259,398 6,497,430
Soda Sanayii AS
 4,137,279 4,841,695
TAV Havalimanlari Holding AS
 1,573,011 7,606,004
Tekfen Holding AS
 1,785,009 5,955,996
Tofas Turk Otomobil Fabrikasi AS
 1,161,979 6,402,159
Trakya Cam Sanayii AS
 6,086,117 5,365,231
Tupras Turkiye Petrol Rafinerileri AS
 1,012,898 23,684,774
Turk Hava Yollari AO(a)
 4,708,373 17,277,195
Turk Telekomunikasyon AS(a)(c)
 248,634 324,940
 Security Shares Value
Turkey (continued)
Turkcell Iletisim Hizmetleri AS
     8,172,391 $     21,613,173
Turkiye Garanti Bankasi AS
    17,446,525      34,259,008
Turkiye Is Bankasi AS, Class C
    13,108,137      17,217,710
Turkiye Sinai Kalkinma Bankasi AS
    15,905,981       4,276,697
Turkiye Sise ve Cam Fabrikalari AS
     6,494,331       5,696,468
Turkiye Vakiflar Bankasi TAO, Class D
     6,734,533       8,118,634
Ulker Biskuvi Sanayi AS
     1,526,823       5,888,638
Yapi ve Kredi Bankasi AS(a)(c)
     7,258,915       6,431,110
Zorlu Enerji Elektrik Uretim AS(a)(c)
 10,140,104 3,307,442
    385,833,784
United Arab Emirates — 0.6%
Abu Dhabi Commercial Bank PJSC
 18,006,258 34,461,972
Agthia Group PJSC
 1,909,296 2,495,030
Air Arabia PJSC
 22,614,717 7,141,846
Al Waha Capital PJSC
 10,879,283 5,272,076
Aldar Properties PJSC
 29,288,983 16,346,301
Amanat Holdings PJSC
 7,727,821 2,882,299
Amlak Finance PJSC(a)
 10,757,873 2,331,314
DAMAC Properties Dubai Co. PJSC
 12,686,804 8,254,893
Dana Gas PJSC
 7,454,404 2,191,785
Deyaar Development PJSC(a)
 22,304,796 2,884,385
DP World Ltd.
 1,433,934 32,263,515
Dubai Investments PJSC
 8,441,615 4,734,282
Dubai Islamic Bank PJSC
 11,280,889 15,570,861
Emaar Malls PJSC
 15,384,031 8,585,891
Emaar Properties PJSC
 29,971,617 42,430,178
Emirates Telecommunications Group Co. PJSC
 14,556,930 64,201,643
Eshraq Properties Co. PJSC(a)
 14,708,334 2,923,127
First Abu Dhabi Bank PJSC
 12,664,763 42,409,535
    297,380,933
Total Common Stocks — 96.6%

(Cost: $40,629,527,228)
 47,552,667,515
Preferred Stocks
Brazil — 2.0%
Alpargatas SA, Preference Shares, NVS
 1,400,200 4,955,529
Banco ABC Brasil SA, Preference Shares, NVS
 962,305 4,237,806
Banco Bradesco SA, Preference Shares, NVS
 26,141,302 204,761,424
Banco do Estado do Rio Grande do Sul SA, Class B, Preference Shares, NVS
 1,554,900 6,851,656
Bradespar SA, Preference Shares, NVS
 1,951,300 16,321,745
Braskem SA, Class A, Preference Shares, NVS
 1,395,100 17,007,704
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS
 1,793,500 8,066,789
Cia. Brasileira de Distribuicao, Preference Shares, NVS
 1,260,800 26,915,213
Cia. de Saneamento do Parana, Preference Shares, NVS
 2,059,596 4,922,169
Cia. Energetica de Minas Gerais, Preference Shares, NVS
 6,882,294 14,174,674
Cia. Energetica de Sao Paulo, Class B, Preference Shares, NVS
 1,580,300 7,014,503
Cia. Energetica do Ceara, Class A, Preference Shares, NVS
 93,400 1,274,075
Cia. Paranaense de Energia, Preference Shares, NVS
 855,600 5,399,122
Gerdau SA, Preference Shares, NVS
 8,345,874 33,167,905
 
 
17
  

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Brazil (continued)
Gol Linhas Aereas Inteligentes SA, Preference Shares, NVS
       946,200 $      3,427,515
Itau Unibanco Holding SA, Preference Shares, NVS
    25,333,288     292,376,504
Itausa-Investimentos Itau SA, Preference Shares, NVS
    32,619,616      98,365,566
Lojas Americanas SA, Preference Shares, NVS
     5,859,510      27,959,746
Marcopolo SA, Preference Shares, NVS
     4,813,386       4,614,274
Metalurgica Gerdau SA, Preference Shares, NVS
     5,966,536      10,910,732
Petroleo Brasileiro SA, Preference Shares, NVS
    30,774,308     156,844,394
Telefonica Brasil SA, Preference Shares, NVS
     3,418,540     41,767,315
    991,336,360
Chile — 0.1%
Embotelladora Andina SA, Class B, Preference Shares
 2,320,378 10,024,427
Sociedad Quimica y Minera de Chile SA, Series B, Preference Shares
 769,496 40,077,650
    50,102,077
Colombia — 0.1%
Avianca Holdings SA, Preference Shares, NVS
 3,641,108 3,511,242
Bancolombia SA, Preference Shares, NVS
 3,878,177 44,985,701
Grupo Aval Acciones y Valores SA, Preference Shares, NVS
 33,063,307 14,253,375
Grupo de Inversiones Suramericana SA, Preference Shares, NVS
 648,662 7,928,576
    70,678,894
Russia — 0.1%
Surgutneftegas OJSC, Preference Shares, NVS
 54,665,108 26,732,862
Transneft PJSC, Preference Shares
 2,068 5,660,436
    32,393,298
South Korea — 0.7%
Amorepacific Corp., Preference Shares, NVS
 77,357 11,661,499
Hyundai Motor Co.    
Preference Shares, NVS
 169,458 14,054,033
Series 2, Preference Shares, NVS
 278,389 24,405,362
LG Chem Ltd., Preference Shares, NVS
 60,228 10,978,990
LG Household & Health Care Ltd., Preference Shares, NVS
 17,477 11,884,263
Samsung Electronics Co. Ltd., Preference Shares, NVS
 6,884,671 258,666,149
    331,650,296
Total Preferred Stocks — 3.0%

(Cost: $1,362,027,623)
 1,476,160,925
 Security Shares Value
Rights
South Korea — 0.0%
CrystalGenomics Inc., NVS (Expires 06/26/18)(a)(c)
        20,038 $         61,344
Sungwoo Hitech Co. Ltd., NVS (Expires 06/19/18)(a)(c)
       157,825         87,994
    149,338
United Arab Emirates — 0.0%
Dubai Islamic Bank PJSC, NVS (Expires 06/06/18)(a)
     3,760,296      2,006,501
Total Rights — 0.0%

(Cost: $0)
 2,155,839
Short-Term Investments
Money Market Funds — 5.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(f)(g)(h)
 2,496,547,426 2,497,046,736
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(f)(g)
 25,216,119 25,216,119
    2,522,262,855
Total Short-Term Investments — 5.1%

(Cost: $2,521,845,824)
 2,522,262,855
Total Investments in Securities — 104.7%

(Cost: $44,513,400,675)
 51,553,247,134
Other Assets, Less Liabilities — (4.7)%
 (2,312,634,000)
Net Assets — 100.0%
 $ 49,240,613,134
    
(a) Non-income producing security.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) All or a portion of this security is on loan.
(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(e) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(f) Affiliate of the Fund.
(g) Annualized 7-day yield as of period-end.
(h) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 2,544,586,672 (48,039,246) 2,496,547,426 $2,497,046,736   $39,047,492 (a)   $ (229,432)   $ 111,170
BlackRock Cash Funds: Treasury, SL Agency Shares
 111,111,661 (85,895,542) 25,216,119 25,216,119   957,293   —   —
        $2,522,262,855   $40,004,785   $ (229,432)   $ 111,170
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
  
18

iShares® Core MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI Emerging Markets E-Mini
 3,444 06/15/18 $193,157 $ (4,188,917)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Consolidated Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $47,134,984,845   $   401,276,271   $    16,406,399   $47,552,667,515
Preferred Stocks
  1,476,160,925               —               —     1,476,160,925
Rights
         87,994        2,067,845               —         2,155,839
Money Market Funds
  2,522,262,855               —               —    2,522,262,855
  $51,133,496,619   $    403,344,116   $    16,406,399   $51,553,247,134
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $ (4,188,917)   $ —   $ —   $ (4,188,917)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
CPO
 Certificates of Participation (Ordinary)
GDR
 Global Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
19
  

iShares® Currency Hedged MSCI Emerging Markets ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Investment Companies
Exchange-Traded Funds — 99.8%
iShares MSCI Emerging Markets ETF(a)(b)
  9,030,057 $ 412,583,304
Total Investment Companies — 99.8%

(Cost: $363,418,324)
 412,583,304
Short-Term Investments
Money Market Funds — 15.0%
BlackRock Cash Funds: Institutional, SL Agency Shares,

1.98%(a)(c)(d)
 56,028,794   56,040,000
BlackRock Cash Funds: Treasury, SL Agency Shares,

1.64%(a)(c)
  5,959,774   5,959,774
    61,999,774
Total Short-Term Investments — 15.0%

(Cost: $61,999,774)
 61,999,774
Total Investments in Securities — 114.8%

(Cost: $425,418,098)
 474,583,078
Other Assets, Less Liabilities — (14.8)%
 (61,072,632)
Net Assets — 100.0%
 $ 413,510,446
(a) Affiliate of the Fund.
(b) All or a portion of this security is on loan.
(c) Annualized 7-day yield as of period-end.
(d) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Shares
Purchased 		Shares
Sold 		Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 — 56,028,794 (a) — 56,028,794 $ 56,040,000   $ 302,345(b)   $ (40,514)   $ —
BlackRock Cash Funds: Treasury, SL Agency Shares
 — 5,959,774 (a) — 5,959,774 5,959,774   17,150   —   —
iShares MSCI Emerging Markets ETF
 8,795,358 1,485,377 (1,250,678) 9,030,057 412,583,304   6,137,528   11,188,358   (1,987,950)
          $474,583,078   $6,457,023   $11,147,844   $ (1,987,950)
    
(a) Net of purchases and sales.
(b) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Forward Foreign Currency Exchange Contracts
Forward foreign currency exchange contracts outstanding as of May 31, 2018 were as follows:
Currency Purchased Currency Sold Counterparty Settlement Date Unrealized
Appreciation
(Depreciation)
EUR 7,024,000 USD 8,176,498 MS
06/07/18
 $ 36,508
HKD 4,620,000 USD 589,049 CITI
06/07/18
 54
HKD 709,891,000 USD 90,495,483 MS
06/07/18
 23,799
KRW 79,583,829,000 USD 73,680,544 MS
06/07/18
 79,410
RUB 4,856,000 USD 76,971 CITI
06/07/18
 798
TWD 1,929,402,000 USD 64,276,976 MS
06/07/18
 113,079
USD 1,750,556 BRL 6,149,000 CITI
06/07/18
 99,881
USD 28,116,769 BRL 98,001,000 UBS
06/07/18
 1,808,785
USD 433,171 CLP 265,695,000 CITI
06/07/18
 11,548
  
20

iShares® Currency Hedged MSCI Emerging Markets ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Forward Foreign Currency Exchange Contracts (continued)
Currency Purchased Currency Sold Counterparty Settlement Date Unrealized
Appreciation
(Depreciation)
USD 6,538,462 CLP 3,960,706,000 UBS
06/07/18
 $ 253,344
USD 8,556,325 EUR 7,069,000 CITI
06/07/18
 290,701
USD 997,352 HKD 7,821,000 CITI
06/07/18
 84
USD 34,889,373 INR 2,337,376,000 CITI
06/07/18
 254,250
USD 3,651,721 KRW 3,908,585,000 CITI
06/07/18
 29,163
USD 71,392,912 KRW 76,347,580,000 CS
06/07/18
 632,381
USD 12,333,702 MXN 233,066,000 CITI
06/07/18
 654,349
USD 40,197 RUB 2,466,000 CITI
06/07/18
 704
USD 3,881,048 TRY 15,916,000 CITI
06/07/18
 373,843
USD 687,190 TWD 20,431,000 CITI
06/07/18
 5,344
USD 65,684,268 TWD 1,939,328,000 CS
06/07/18
 962,952
USD 27,248,322 ZAR 339,733,000 CITI
06/07/18
 571,331
BRL 12,369,000 USD 3,304,569 MS
07/05/18
 7,078
CLP 184,235,000 USD 291,834 MS
07/05/18
 625
EUR 635,000 USD 743,066 MS
07/05/18
 1,097
KRW 621,737,000 USD 575,412 MS
07/05/18
 564
MXN 19,236,000 USD 956,021 MS
07/05/18
 3,249
RUB 7,023,000 USD 112,278 MS
07/05/18
 68
TRY 272,000 USD 59,166 MS
07/05/18
 109
USD 27,708,224 BRL 103,112,000 MS
07/05/18
 101,263
USD 6,691,810 CLP 4,199,178,000 MS
07/05/18
 25,920
USD 73,741,989 KRW 79,583,829,000 MS
07/05/18
 15,712
USD 12,049,523 MXN 238,943,000 MS
07/05/18
 133,801
USD 11,895,249 RUB 743,233,000 MS
07/05/18
 5,804
USD 3,367,869 TRY 15,249,000 MS
07/05/18
 44,797
USD 26,843,211 ZAR 339,047,000 MS
07/05/18
 318,298
        6,860,693
BRL 1,038,000 USD 293,349 CITI
06/07/18
 (14,702)
BRL 103,112,000 USD 27,792,992 MS
06/07/18
 (112,980)
CLP 27,223,000 USD 43,334 CITI
06/07/18
 (135)
CLP 4,199,178,000 USD 6,689,785 MS
06/07/18
 (26,244)
EUR 45,000 USD 53,765 CITI
06/07/18
 (1,147)
INR 15,797,000 USD 234,466 CITI
06/07/18
 (387)
INR 2,328,973,000 USD 34,522,227 MS
06/07/18
 (11,619)
KRW 672,336,000 USD 624,706 CITI
06/07/18
 (1,571)
MXN 2,569,000 USD 133,358 CITI
06/07/18
 (4,621)
MXN 230,497,000 USD 11,685,941 MS
06/07/18
 (135,325)
RUB 743,233,000 USD 11,931,819 MS
06/07/18
 (28,916)
TRY 715,000 USD 172,939 CITI
06/07/18
 (15,384)
TRY 15,249,000 USD 3,406,585 MS
06/07/18
 (46,359)
TWD 30,357,000 USD 1,024,935 CITI
06/07/18
 (11,829)
USD 90,110,594 HKD 706,690,000 CITI
06/07/18
 (523)
USD 107,897 INR 7,394,000 CITI
06/07/18
 (1,667)
USD 524,098 RUB 33,149,000 CITI
06/07/18
 (6,784)
USD 11,344,676 RUB 712,474,000 CS
06/07/18
 (65,621)
USD 10,500 TRY 48,000 CITI
06/07/18
 (77)
ZAR 3,705,000 USD 294,961 CITI
06/07/18
 (4,031)
ZAR 336,028,000 USD 26,706,167 MS
06/07/18
 (320,106)
INR 59,444,000 USD 878,167 MS
07/05/18
 (246)
21
  

iShares® Currency Hedged MSCI Emerging Markets ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Forward Foreign Currency Exchange Contracts (continued)
Currency Purchased Currency Sold Counterparty Settlement Date Unrealized
Appreciation
(Depreciation)
KRW 424,686,000 USD 393,957 MS
07/05/18
 $ (529)
TWD 2,146,000 USD 71,697 MS
07/05/18
 (4)
USD 1,654,445 BRL 6,213,000 MS
07/05/18
 (9,009)
USD 395,423 CLP 249,483,000 MS
07/05/18
 (613)
USD 8,579,216 EUR 7,352,000 MS
07/05/18
 (36,670)
USD 95,844,398 HKD 751,241,000 MS
07/05/18
 (21,912)
USD 36,278,728 INR 2,456,566,000 MS
07/05/18
 (1,969)
USD 2,850,050 KRW 3,076,552,000 MS
07/05/18
 (61)
USD 215,897 MXN 4,339,000 MS
07/05/18
 (482)
USD 699,853 RUB 43,853,000 MS
07/05/18
 (1,660)
USD 146,852 TRY 675,000 MS
07/05/18
 (244)
USD 67,915,432 TWD 2,036,414,000 MS
07/05/18
 (116,973)
USD 1,002,376 ZAR 12,814,000 MS
07/05/18
 (111)
ZAR 11,933,000 USD 938,385 MS
07/05/18
 (4,822)
        (1,005,333)
Net unrealized appreciation
 $ 5,855,360
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Investment Companies
 $412,583,304   $          —   $         —   $412,583,304
Money Market Funds
  61,999,774            —            —    61,999,774
  $474,583,078   $          —   $          —   $474,583,078
Derivative financial instruments(a)              
Assets              
Forward Foreign Currency Exchange Contracts
 $          —   $  6,860,693   $         —   $  6,860,693
Liabilities              
Forward Foreign Currency Exchange Contracts
 —   (1,005,333)   —   (1,005,333)
  $ —   $ 5,855,360   $ —   $ 5,855,360
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Counterparty Abbreviations
CITI
 Citibank N.A.
CS
 Credit Suisse Securities (USA) LLC
MS
 Morgan Stanley and Co. International PLC
UBS
 UBS AG
    
Currency Abbreviations
BRL
 Brazilian Real
CLP
 Chilean Peso
EUR
 Euro
HKD
 Hong Kong Dollar
INR
 Indian Rupee
 
KRW
 South Korean Won
MXN
 Mexican Peso
RUB
 New Russian Ruble
TRY
 Turkish Lira
TWD
 New Taiwan Dollar
USD
 United States Dollar
ZAR
 South African Rand
  
22

iShares® Edge MSCI Min Vol EM Currency Hedged ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Investment Companies
Exchange-Traded Funds — 100.0%
iShares Edge MSCI Min Vol Emerging Markets ETF(a)
 158,840 $ 9,671,768
Total Investment Companies — 100.0%

(Cost: $8,858,216)
 9,671,768
Short-Term Investments
Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares,

1.64%(a)(b)
   5,175     5,175
Total Short-Term Investments — 0.1%

(Cost: $5,175)
 5,175
Total Investments in Securities — 100.1%

(Cost: $8,863,391)
 9,676,943
Other Assets, Less Liabilities — (0.1)%
 (5,423)
Net Assets — 100.0%
 $ 9,671,520
(a) Affiliate of the Fund.
(b) Annualized 7-day yield as of period-end.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Shares
Purchased 		Shares
Sold 		Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares
 3,008 2,167 (a) — 5,175 $ 5,175   $ 41   $ —   $ —
iShares Edge MSCI Min Vol Emerging Markets ETF
 112,856 74,921 (28,937) 158,840 9,671,768   134,073   275,456   7,790
          $9,676,943   $ 134,114   $ 275,456   $ 7,790
    
(a) Net of purchases and sales.
Forward Foreign Currency Exchange Contracts
Forward foreign currency exchange contracts outstanding as of May 31, 2018 were as follows:
Currency Purchased Currency Sold Counterparty Settlement Date Unrealized
Appreciation
(Depreciation)
BRL 495,000 USD 131,890 UBS
06/07/18
 $ 990
EUR 69,000 USD 80,219 UBS
06/07/18
 461
HKD 16,111,000 USD 2,053,837 BNP
06/07/18
 502
PLN 796,000 USD 214,558 BNP
06/07/18
 886
TWD 85,151,000 USD 2,833,738 BNP
06/07/18
 8,011
USD 143,692 BRL 499,000 CITI
06/07/18
 9,738
USD 14,916 CLP 9,127,000 BNP
06/07/18
 432
USD 413,349 CLP 248,865,000 CITI
06/07/18
 18,433
USD 76,197 EUR 63,000 CS
06/07/18
 2,533
USD 6,056 EUR 5,000 MS
06/07/18
 209
USD 1,212 EUR 1,000 SSB
06/07/18
 43
USD 66,442 HKD 521,000 MS
06/07/18
 9
USD 77,919 INR 5,204,000 JPM
06/07/18
 807
USD 726,919 INR 48,731,000 UBS
06/07/18
 4,826
USD 1,686,690 KRW 1,802,667,000 CITI
06/07/18
 15,941
23
  

iShares® Edge MSCI Min Vol EM Currency Hedged ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Forward Foreign Currency Exchange Contracts (continued)
Currency Purchased Currency Sold Counterparty Settlement Date Unrealized
Appreciation
(Depreciation)
USD 15,394 KRW 16,455,000 JPM
06/07/18
 $ 143
USD 138,170 MXN 2,610,000 CS
06/07/18
 7,378
USD 13,501 MXN 255,000 MS
06/07/18
 723
USD 216,786 PLN 757,000 JPM
06/07/18
 11,897
USD 12,276 PLN 43,000 MS
06/07/18
 638
USD 2,927,705 TWD 86,420,000 JPM
06/07/18
 43,605
USD 12,517 ZAR 157,000 MS
06/07/18
 189
USD 140,542 ZAR 1,753,000 NSI
06/07/18
 2,890
BRL 70,000 USD 18,723 BNP
07/05/18
 19
CLP 8,253,000 USD 13,076 BNP
07/05/18
 25
EUR 8,000 USD 9,361 MS
07/05/18
 14
KRW 7,527,000 USD 6,966 MS
07/05/18
 7
MXN 175,000 USD 8,697 CITI
07/05/18
 30
PLN 30,000 USD 8,114 BNP
07/05/18
 11
TWD 452,000 USD 15,099 CITI
07/05/18
 1
USD 408,978 CLP 256,887,000 CITI
07/05/18
 1,188
USD 1,679,847 KRW 1,810,640,000 BNP
07/05/18
 2,474
USD 143,657 MXN 2,852,000 UBS
07/05/18
 1,432
USD 224 RUB 14,000 BNP
07/05/18
 —
USD 40,635 TWD 1,216,000 BNP
07/05/18
 11
USD 392 ZAR 5,000 BNP
07/05/18
 1
USD 150,949 ZAR 1,904,000 BOA
07/05/18
 1,992
        138,489
BRL 4,000 USD 1,143 UBS
06/07/18
 (69)
CLP 256,887,000 USD 408,821 CITI
06/07/18
 (1,176)
CLP 1,105,000 USD 1,801 UBS
06/07/18
 (48)
INR 53,277,000 USD 789,643 CITI
06/07/18
 (187)
INR 658,000 USD 9,860 UBS
06/07/18
 (110)
KRW 1,809,371,000 USD 1,677,192 BNP
06/07/18
 (229)
KRW 9,751,000 USD 9,125 UBS
06/07/18
 (87)
MXN 13,000 USD 688 CITI
06/07/18
 (37)
MXN 2,852,000 USD 144,350 UBS
06/07/18
 (1,431)
PLN 4,000 USD 1,142 JPM
06/07/18
 (59)
RUB 1,326,000 USD 21,276 MS
06/07/18
 (40)
TWD 968,000 USD 32,774 JPM
06/07/18
 (468)
TWD 301,000 USD 10,183 UBS
06/07/18
 (138)
USD 1,987,888 HKD 15,590,000 CITI
06/07/18
 (17)
USD 17,607 RUB 1,103,000 BNP
06/07/18
 (57)
USD 3,318 RUB 210,000 MS
06/07/18
 (46)
USD 205 RUB 13,000 UBS
06/07/18
 (3)
ZAR 1,904,000 USD 151,511 BOA
06/07/18
 (2,002)
ZAR 6,000 USD 479 JPM
06/07/18
 (7)
INR 179,000 USD 2,644 BNP
07/05/18
 —
USD 2,922 BRL 11,000 JPM
07/05/18
 (24)
USD 131,518 BRL 495,000 UBS
07/05/18
 (1,012)
USD 5,605 CLP 3,543,000 CITI
07/05/18
 (20)
USD 2,340 EUR 2,000 CITI
07/05/18
 (4)
USD 80,402 EUR 69,000 UBS
07/05/18
 (460)
USD 2,138,108 HKD 16,758,000 BNP
07/05/18
 (390)
  
24

iShares® Edge MSCI Min Vol EM Currency Hedged ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Forward Foreign Currency Exchange Contracts (continued)
Currency Purchased Currency Sold Counterparty Settlement Date Unrealized
Appreciation
(Depreciation)
USD 10,207 HKD 80,000 MS
07/05/18
 $ (1)
USD 786,641 INR 53,277,000 CITI
07/05/18
 (200)
USD 10,618 INR 719,000 MS
07/05/18
 (1)
USD 2,090 MXN 42,000 DB
07/05/18
 (5)
USD 214,689 PLN 796,000 BNP
07/05/18
 (885)
USD 3,247 PLN 12,000 CITI
07/05/18
 (3)
USD 21,446 RUB 1,341,000 MS
07/05/18
 (6)
USD 2,837,043 TWD 85,151,000 BNP
07/05/18
 (7,677)
ZAR 101,000 USD 7,943 BNP
07/05/18
 (41)
        (16,940)
Net unrealized appreciation
 $ 121,549
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Investment Companies
 $9,671,768   $        —   $       —   $9,671,768
Money Market Funds
     5,175          —          —       5,175
  $9,676,943   $        —   $       —   $9,676,943
Derivative financial instruments(a)              
Assets              
Forward Foreign Currency Exchange Contracts
 $        —   $  138,489   $       —   $  138,489
Liabilities              
Forward Foreign Currency Exchange Contracts
 —   (16,940)   —   (16,940)
  $ —   $ 121,549   $ —   $ 121,549
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Counterparty Abbreviations
BNP
 BNP Paribas SA
BOA
 Bank of America N.A.
CITI
 Citibank N.A.
CS
 Credit Suisse Securities (USA) LLC
DB
 Deutsche Bank AG London
JPM
 JPMorgan Chase Bank N.A.
MS
 Morgan Stanley and Co. International PLC
NSI
 Nomura Securities International Inc.
SSB
 State Street Bank and Trust Co.
UBS
 UBS AG
    
Currency Abbreviations
BRL
 Brazilian Real
CLP
 Chilean Peso
EUR
 Euro
HKD
 Hong Kong Dollar
INR
 Indian Rupee
KRW
 South Korean Won
 
MXN
 Mexican Peso
PLN
 Polish Zloty
RUB
 New Russian Ruble
TWD
 New Taiwan Dollar
USD
 United States Dollar
ZAR
 South African Rand
25
  

iShares® Edge MSCI Min Vol Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Brazil — 1.4%
Ambev SA
   4,851,000 $    25,648,471
Cielo SA
   1,833,116      8,343,421
Equatorial Energia SA
   1,309,000     21,367,627
Raia Drogasil SA
     637,600    10,661,337
    66,020,856
Chile — 3.3%
Aguas Andinas SA, Class A
  44,486,750     25,807,548
Banco de Chile
 417,076,224 64,674,497
Banco de Credito e Inversiones SA
 100,100 7,040,826
Cia. Cervecerias Unidas SA
 183,296 2,331,386
Colbun SA
 18,864,500 4,250,347
Enel Americas SA
 20,034,630 3,870,764
SACI Falabella
 4,738,580 44,307,465
    152,282,833
China — 28.0%
3SBio Inc.(a)(b)
 1,925,000 5,509,360
51job Inc., ADR(b)
 49,280 5,243,392
AAC Technologies Holdings Inc.
 1,384,500 20,844,763
Agricultural Bank of China Ltd., Class H
 73,150,000 37,861,209
Alibaba Group Holding Ltd., ADR(b)
 319,550 63,274,096
ANTA Sports Products Ltd.
 2,310,000 13,310,811
Autohome Inc., ADR
 49,280 5,554,842
Baidu Inc., ADR(b)
 174,020 42,210,291
Bank of Beijing Co. Ltd., Class A
 2,926,000 3,024,006
Bank of China Ltd., Class H
 94,710,000 49,503,260
Bank of Communications Co. Ltd., Class A
 5,081,940 4,776,133
Bank of Communications Co. Ltd., Class H
 5,494,000 4,349,450
Beijing Capital International Airport Co. Ltd., Class H
 6,376,000 9,428,887
BOC Aviation Ltd.(a)
 600,000 3,725,069
BOE Technology Group Co. Ltd., Class A
 4,312,000 2,773,488
CAR Inc.(b)
 11,550,000 12,927,978
China CITIC Bank Corp. Ltd., Class H
 18,277,000 12,418,989
China Construction Bank Corp., Class H
 5,390,000 5,442,119
China Everbright Bank Co. Ltd., Class H
 17,710,000 8,827,738
China First Capital Group Ltd.(b)
 6,160,000 6,172,447
China Gas Holdings Ltd.
 2,002,000 8,307,478
China Huishan Dairy Holdings Co. Ltd.(b)(c)
 33,013,520 42
China Life Insurance Co. Ltd., Class H
 1,594,000 4,450,272
China Medical System Holdings Ltd.
 7,970,000 19,203,228
China Mengniu Dairy Co. Ltd.
 4,620,000 16,785,758
China Merchants Port Holdings Co. Ltd.
 1,132,000 2,583,173
China Minsheng Banking Corp. Ltd., Class A
 2,232,989 2,670,335
China Mobile Ltd.
 6,774,500 60,454,606
China Pacific Insurance Group Co. Ltd., Class A
 615,932 3,199,160
China Petroleum & Chemical Corp., Class H
 46,236,000 45,209,503
China Railway Signal & Communication Corp. Ltd., Class H(a)
 23,870,000 18,653,787
China Reinsurance Group Corp., Class H
 87,010,000 19,522,523
China Resources Beer Holdings Co. Ltd.
 7,970,000 38,711,269
China Resources Gas Group Ltd.
 2,382,000 9,049,241
China Resources Pharmaceutical Group Ltd.(a)
 8,310,500 12,755,801
China Resources Power Holdings Co. Ltd.
 3,194,000 6,539,350
China Telecom Corp. Ltd., Class H
 40,040,000 18,682,254
China Unicom Hong Kong Ltd.
 3,188,000 4,332,411
China Yangtze Power Co. Ltd., Class A
 1,924,939 5,141,826
Chong Sing Holdings FinTech Group Ltd.(b)
 101,896,000 13,509,665
CNOOC Ltd.
 1,594,000 2,682,356
 Security Shares Value
China (continued)
COSCO SHIPPING Energy Transportation Co. Ltd., Class H
   6,160,000 $     3,486,726
COSCO SHIPPING Ports Ltd.
  14,346,000     13,808,035
CSPC Pharmaceutical Group Ltd.
   9,240,000     28,918,621
Dali Foods Group Co. Ltd.(a)
   3,080,000      2,375,528
Daqin Railway Co. Ltd., Class A
   2,078,969      2,726,325
Dongfeng Motor Group Co. Ltd., Class H
   3,080,000      3,514,211
ENN Energy Holdings Ltd.
     770,000      7,926,608
Fang Holdings Ltd., ADR(b)
     406,560      2,061,259
Focus Media Information Technology Co. Ltd., Class A
 1,308,996 2,552,414
Fullshare Holdings Ltd.(d)
 20,565,000 9,700,286
Fuyao Glass Industry Group Co. Ltd., Class H(a)
 956,400 3,541,929
Guangdong Investment Ltd.
 33,474,000 56,414,816
Hangzhou Hikvision Digital Technology Co. Ltd., Class A
 1,154,978 7,059,206
Hengan International Group Co. Ltd.
 2,391,000 22,769,542
Huadian Power International Corp. Ltd., Class H
 6,160,000 2,834,928
Huaneng Power International Inc., Class H
 32,340,000 24,984,275
Industrial & Commercial Bank of China Ltd., Class H
 34,650,000 28,712,480
Industrial Bank Co. Ltd., Class A
 2,694,929 6,702,139
Jiangsu Expressway Co. Ltd., Class H
 20,722,000 31,277,892
Jiangsu Hengrui Medicine Co. Ltd., Class A
 384,988 4,575,656
Kangmei Pharmaceutical Co. Ltd., Class A
 692,934 2,894,865
Kingboard Chemical Holdings Ltd.
 797,000 3,170,057
Kweichow Moutai Co. Ltd., Class A
 19,542 2,291,577
Lenovo Group Ltd.(d)
 60,060,000 31,851,711
NetEase Inc., ADR
 99,330 22,679,026
New Oriental Education & Technology Group Inc., ADR
 167,860 16,697,034
PetroChina Co. Ltd., Class H
 52,666,000 43,574,172
Ping An Insurance Group Co. of China Ltd., Class H
 770,000 7,548,683
Semiconductor Manufacturing International Corp.(b)(d)
 4,235,000 5,539,300
Shandong Weigao Group Medical Polymer Co. Ltd., Class H
 15,940,000 13,716,591
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B
 11,636,053 17,337,719
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
 3,311,000 10,235,876
Shanghai Pudong Development Bank Co. Ltd., Class A
 3,772,942 6,214,167
Shenzhen International Holdings Ltd.
 1,925,000 4,211,164
Shenzhou International Group Holdings Ltd.
 2,310,000 27,033,904
Sihuan Pharmaceutical Holdings Group Ltd.
 16,940,000 4,383,929
SINA Corp./China(b)
 25,410 2,307,736
Sino Biopharmaceutical Ltd.
 3,080,000 7,790,162
Sinopec Shanghai Petrochemical Co. Ltd., Class H
 13,860,000 10,230,477
Sinopharm Group Co. Ltd., Class H
 1,540,000 6,841,914
Sun Art Retail Group Ltd.
 5,005,000 5,895,629
Sunny Optical Technology Group Co. Ltd.
 385,000 7,833,354
TAL Education Group, Class A, ADR(b)
 195,580 8,304,327
Tencent Holdings Ltd.
 1,232,000 62,698,240
TravelSky Technology Ltd., Class H
 5,390,000 15,769,777
Tsingtao Brewery Co. Ltd., Class H
 2,036,000 12,899,957
Want Want China Holdings Ltd.
 3,985,000 3,952,410
Weibo Corp., ADR(b)
 22,330 2,275,650
Yum China Holdings Inc.
 796,950 31,320,135
Zhaojin Mining Industry Co. Ltd., Class H
 16,940,000 14,145,191
ZTE Corp., Class H(b)(c)
 1,746,800 4,231,077
    1,311,441,053
Colombia — 0.6%
Grupo Argos SA/Colombia
 283,360 1,905,416
 
 
  
26

iShares® Edge MSCI Min Vol Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Colombia (continued)
Interconexion Electrica SA ESP
   4,908,750 $    24,067,791
    25,973,207
Czech Republic — 0.5%
CEZ AS
     129,360      3,231,470
Komercni Banka AS
     268,973     10,884,278
Moneta Money Bank AS(a)
     859,320      2,999,440
O2 Czech Republic AS
     606,760     7,681,444
    24,796,632
Egypt — 0.4%
Commercial International Bank Egypt SAE
 3,619,770 17,039,923
Greece — 0.5%
Hellenic Telecommunications Organization SA
 339,570 4,062,894
JUMBO SA
 220,220 3,532,042
OPAP SA
 364,980 3,919,578
Titan Cement Co. SA
 487,410 11,948,025
    23,462,539
Hungary — 0.7%
MOL Hungarian Oil & Gas PLC
 1,346,730 12,677,209
OTP Bank Nyrt
 44,660 1,598,104
Richter Gedeon Nyrt
 1,067,220 20,848,171
    35,123,484
India — 8.3%
Asian Paints Ltd.
 1,544,620 29,862,386
Britannia Industries Ltd.
 54,670 4,799,205
Cadila Healthcare Ltd.(b)
 429,660 2,300,391
Cipla Ltd./India
 327,250 2,544,968
Coal India Ltd.
 589,820 2,589,326
Dabur India Ltd.
 6,624,310 37,626,022
HCL Technologies Ltd.
 2,518,670 33,977,272
Hindustan Unilever Ltd.
 1,126,510 26,900,523
Housing Development Finance Corp. Ltd.
 316,470 8,596,147
Infosys Ltd.
 3,377,990 61,660,550
InterGlobe Aviation Ltd.(a)
 129,580 2,341,206
ITC Ltd.
 642,180 2,585,088
Lupin Ltd.
 208,670 2,382,083
Marico Ltd.
 3,270,960 15,600,466
Maruti Suzuki India Ltd.
 17,710 2,240,489
Nestle India Ltd.
 35,420 5,067,161
Pidilite Industries Ltd.
 168,630 2,892,692
Power Grid Corp. of India Ltd.
 2,179,870 6,765,810
Reliance Industries Ltd.
 664,510 9,072,668
Sun Pharmaceutical Industries Ltd.
 730,730 5,201,440
Tata Consultancy Services Ltd.
 2,115,960 54,591,815
Tech Mahindra Ltd.
 2,055,130 21,694,096
Titan Co. Ltd.
 595,980 7,949,344
Vakrangee Ltd.
 1,712,273 827,179
Wipro Ltd.
 9,663,500 37,504,103
    387,572,430
Indonesia — 4.7%
Bank Central Asia Tbk PT
 44,275,000 72,331,234
Bank Mandiri Persero Tbk PT
 13,013,000 6,602,494
Bank Rakyat Indonesia Persero Tbk PT
 38,423,000 8,516,937
Gudang Garam Tbk PT
 1,912,800 9,429,781
Hanjaya Mandala Sampoerna Tbk PT
 75,845,000 20,687,481
Indofood CBP Sukses Makmur Tbk PT
 11,704,000 7,328,161
Indofood Sukses Makmur Tbk PT
 16,371,700 8,336,076
Jasa Marga Persero Tbk PT
 7,238,095 2,318,066
Kalbe Farma Tbk PT
 162,624,000 16,034,176
 Security Shares Value
Indonesia (continued)
Telekomunikasi Indonesia Persero Tbk PT
 118,503,000 $    30,020,192
Unilever Indonesia Tbk PT
  11,242,000    36,893,501
    218,498,099
Malaysia — 6.9%
DiGi.Com Bhd(d)
   3,746,400      4,160,575
Fraser & Neave Holdings Bhd
   1,078,000     10,243,709
HAP Seng Consolidated Bhd
   3,031,800      7,465,236
Hong Leong Bank Bhd
   8,162,000     39,333,457
IHH Healthcare Bhd(d)
 35,363,700 53,312,111
Kuala Lumpur Kepong Bhd
 616,000 3,853,869
Malayan Banking Bhd
 22,792,000 55,319,276
Maxis Bhd(d)
 8,547,000 12,433,952
My EG Services Bhd
 27,489,000 6,147,038
Petronas Chemicals Group Bhd
 7,084,000 14,328,191
Petronas Dagangan Bhd
 1,195,500 7,521,437
Petronas Gas Bhd
 3,478,300 15,363,948
Public Bank Bhd
 11,242,080 67,395,987
Telekom Malaysia Bhd(d)
 3,850,000 3,550,126
Tenaga Nasional Bhd(d)
 5,005,000 18,108,543
Westports Holdings Bhd
 3,430,300 2,973,501
    321,510,956
Mexico — 1.2%
Arca Continental SAB de CV
 2,310,000 13,814,475
Coca-Cola Femsa SAB de CV, Series L, NVS
 634,900 3,707,739
Gruma SAB de CV, Series B
 739,200 7,725,394
Infraestructura Energetica Nova SAB de CV
 1,753,400 7,301,891
Wal-Mart de Mexico SAB de CV
 9,163,000 22,920,778
    55,470,277
Pakistan — 0.2%
Habib Bank Ltd.
 1,436,600 2,127,712
Lucky Cement Ltd.
 518,050 2,448,418
MCB Bank Ltd.
 3,104,500 5,484,343
    10,060,473
Peru — 1.2%
Credicorp Ltd.
 251,020 55,580,848
Philippines — 2.8%
Aboitiz Equity Ventures Inc.
 12,239,960 13,466,507
Aboitiz Power Corp.
 25,410,000 19,008,347
Bank of the Philippine Islands
 13,437,028 24,298,192
BDO Unibank Inc.
 11,868,943 29,482,865
Jollibee Foods Corp.
 4,589,200 23,935,069
Manila Electric Co.
 685,300 4,210,769
Metropolitan Bank & Trust Co.
 4,407,482 6,661,288
Security Bank Corp.
 1,523,920 5,656,449
Universal Robina Corp.
 2,571,800 6,266,056
    132,985,542
Poland — 0.4%
Bank Polska Kasa Opieki SA
 442,151 13,361,033
CD Projekt SA
 72,380 2,879,745
Cyfrowy Polsat SA
 593,670 3,995,509
    20,236,287
Qatar — 2.2%
Commercial Bank PQSC (The)
 925,540 9,565,814
Doha Bank QPSC
 552,885 3,943,232
Masraf Al Rayan QSC
 1,218,537 11,166,169
Qatar Electricity & Water Co. QSC
 533,610 27,757,946
Qatar Islamic Bank SAQ
 841,295 26,440,042
 
 
27
  

iShares® Edge MSCI Min Vol Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Qatar (continued)
Qatar National Bank QPSC
     516,670 $    22,437,836
    101,311,039
Russia — 0.2%
Rosneft Oil Co. PJSC
     371,300      2,295,325
Rosneft Oil Co. PJSC, GDR, NVS
     977,900     5,965,190
    8,260,515
South Africa — 1.3%
AngloGold Ashanti Ltd.
     308,770      2,632,530
Bidvest Group Ltd. (The)
 376,809 6,009,903
Fortress REIT Ltd., Series A
 11,976,580 15,811,166
Gold Fields Ltd.
 736,120 2,625,969
Sappi Ltd.
 333,410 2,191,055
SPAR Group Ltd. (The)
 190,960 2,906,241
Tiger Brands Ltd.
 88,550 2,348,515
Vodacom Group Ltd.
 2,494,030 28,258,453
    62,783,832
South Korea — 9.7%
Celltrion Inc.(b)(d)
 29,050 7,155,040
Cheil Worldwide Inc.
 207,130 3,804,605
CJ CheilJedang Corp.
 13,860 4,506,638
CJ Logistics Corp.(b)(d)
 53,130 7,368,556
Coway Co. Ltd.
 81,620 6,610,164
DB Insurance Co. Ltd.
 396,550 21,520,641
E-MART Inc.
 30,291 7,025,140
GS Retail Co. Ltd.(d)
 72,380 2,534,760
Hanssem Co. Ltd.
 27,954 2,930,379
Hanwha Life Insurance Co. Ltd.
 588,280 3,039,770
Hyundai Glovis Co. Ltd.
 44,660 5,572,401
Hyundai Marine & Fire Insurance Co. Ltd.
 300,300 9,485,797
Hyundai Mobis Co. Ltd.
 10,780 2,180,101
Kakao Corp.
 70,840 6,801,744
Kangwon Land Inc.
 807,730 20,119,255
Kia Motors Corp.
 258,720 7,476,347
Korea Electric Power Corp.
 247,170 7,601,174
Korea Gas Corp.(b)
 42,350 2,369,039
KT Corp.
 262,836 6,583,396
KT&G Corp.
 431,970 38,470,356
LG Display Co. Ltd.
 153,230 3,155,718
Lotte Chemical Corp.
 10,010 3,421,944
Lotte Corp.(b)
 49,280 2,678,981
Medy-Tox Inc.
 3,850 2,691,553
NAVER Corp.
 54,163 33,614,775
NCSoft Corp.
 53,463 17,507,713
S-1 Corp.
 243,320 19,954,068
Samsung Biologics Co. Ltd.(a)(b)(d)
 33,880 13,672,063
Samsung Electro-Mechanics Co. Ltd.
 64,680 8,040,373
Samsung Electronics Co. Ltd.
 939,460 44,186,300
Samsung Fire & Marine Insurance Co. Ltd.
 105,490 24,514,351
Samsung Life Insurance Co. Ltd.
 289,520 27,664,140
Samsung SDI Co. Ltd.
 41,580 7,733,930
SK Hynix Inc.
 462,770 40,097,146
SK Telecom Co. Ltd.
 148,610 30,605,705
    452,694,063
Taiwan — 16.0%
Advantech Co. Ltd.
 3,307,333 22,408,377
ASE Industrial Holding Co. Ltd.
 2,779,445 7,050,309
Asustek Computer Inc.
 2,310,000 20,932,363
AU Optronics Corp.
 19,054,000 8,362,736
Chicony Electronics Co. Ltd.
 8,806,085 20,809,066
 Security Shares Value
Taiwan (continued)
Chunghwa Telecom Co. Ltd.
  18,139,000 $    65,989,720
Compal Electronics Inc.
   5,390,000      3,543,981
Delta Electronics Inc.
   2,630,000      9,743,504
E.Sun Financial Holding Co. Ltd.
  26,180,000     18,262,170
Eva Airways Corp.
   7,361,582      3,722,376
Far EasTone Telecommunications Co. Ltd.
  20,722,000     52,839,838
First Financial Holding Co. Ltd.
  65,450,159     44,454,074
Formosa Petrochemical Corp.
   3,850,000     15,612,536
Formosa Plastics Corp.
 2,391,840 8,581,773
Foxconn Technology Co. Ltd.
 3,617,331 8,910,069
Globalwafers Co. Ltd.
 77,000 1,523,989
Hon Hai Precision Industry Co. Ltd.
 17,534,125 50,153,514
Hua Nan Financial Holdings Co. Ltd.
 57,750,034 34,501,798
Innolux Corp.
 8,767,000 3,394,263
Lite-On Technology Corp.
 16,940,752 22,107,818
MediaTek Inc.
 388,000 4,033,910
Nanya Technology Corp.
 3,985,000 13,247,201
Novatek Microelectronics Corp.
 1,516,000 6,856,065
Phison Electronics Corp.
 152,000 1,397,660
Powertech Technology Inc.
 3,479,000 10,380,742
President Chain Store Corp.
 3,021,000 30,954,625
Quanta Computer Inc.
 3,188,000 5,639,371
Standard Foods Corp.
 1,921,476 3,924,848
Synnex Technology International Corp.
 15,940,000 25,536,772
Taiwan Business Bank
 33,110,476 10,111,672
Taiwan Cooperative Financial Holding Co. Ltd.
 110,880,770 65,318,679
Taiwan Mobile Co. Ltd.
 15,913,000 58,422,642
Taiwan Semiconductor Manufacturing Co. Ltd.
 8,767,000 65,544,382
United Microelectronics Corp.
 28,490,000 15,832,268
WPG Holdings Ltd.
 6,376,000 9,257,080
    749,362,191
Thailand — 7.0%
Advanced Info Service PCL, NVDR
 1,925,000 11,463,348
Airports of Thailand PCL, NVDR
 16,863,000 36,108,643
Bangkok Dusit Medical Services PCL, NVDR
 42,812,000 35,799,344
Bangkok Expressway & Metro PCL, NVDR
 79,387,000 20,349,278
BTS Group Holdings PCL, NVDR
 98,175,000 29,768,600
Bumrungrad Hospital PCL, NVDR
 3,696,000 22,240,700
Central Pattana PCL, NVDR
 1,463,000 3,487,144
CP ALL PCL, NVDR
 17,171,000 43,343,490
Delta Electronics Thailand PCL, NVDR
 5,929,000 11,954,376
Electricity Generating PCL, NVDR
 2,223,400 16,750,216
Glow Energy PCL, NVDR
 8,624,000 22,914,661
Home Product Center PCL, NVDR
 28,336,000 12,932,341
IRPC PCL, NVDR
 31,262,000 6,449,803
Kasikornbank PCL, NVDR
 1,673,700 10,019,180
Krung Thai Bank PCL, NVDR
 32,648,000 17,859,956
Minor International PCL, NVDR
 3,696,000 3,754,923
PTT Global Chemical PCL, NVDR
 1,694,000 4,726,149
Robinson PCL, NVDR
 2,233,000 4,397,593
Siam Cement PCL (The), NVDR
 539,000 7,514,661
Thai Union Group PCL, NVDR
 8,855,000 4,788,731
    326,623,137
United Arab Emirates — 1.8%
DP World Ltd.
 665,924 14,983,290
Dubai Islamic Bank PJSC
 2,784,986 3,844,079
Emirates Telecommunications Group Co. PJSC
 5,700,310 25,140,553
 
 
  
28

iShares® Edge MSCI Min Vol Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United Arab Emirates (continued)
First Abu Dhabi Bank PJSC
  12,694,220 $    42,508,176
    86,476,098
Total Common Stocks — 99.3%

(Cost: $4,002,089,172)
 4,645,566,314
Preferred Stocks
Colombia — 0.1%
Grupo de Inversiones Suramericana SA, Preference Shares, NVS
     480,876     5,877,733
Russia — 0.1%
Transneft PJSC, Preference Shares
         695     1,902,323
Total Preferred Stocks — 0.2%

(Cost: $7,196,381)
 7,780,056
Rights
United Arab Emirates — 0.0%
Dubai Islamic Bank PJSC, NVS (Expires 06/06/18)(b)
 1,392,638 743,114
Total Rights — 0.0%

(Cost: $0)
 743,114
 Security Shares Value
Short-Term Investments
Money Market Funds — 0.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(e)(f)(g)
  44,277,894 $    44,286,749
Total Short-Term Investments — 0.9%

(Cost: $44,277,894)
 44,286,749
Total Investments in Securities — 100.4%

(Cost: $4,053,563,447)
 4,698,376,233
Other Assets, Less Liabilities — (0.4)%
 (19,981,744)
Net Assets — 100.0%
 $ 4,678,394,489
    
(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b) Non-income producing security.
(c) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(d) All or a portion of this security is on loan.
(e) Affiliate of the Fund.
(f) Annualized 7-day yield as of period-end.
(g) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 84,571,230 (40,293,336) 44,277,894 $44,286,749   $1,449,707 (a)   $ (273)   $ (6,068)
BlackRock Cash Funds: Treasury, SL Agency Shares
 4,920,351 (4,920,351) — —   82,457   —   —
        $44,286,749   $1,532,164   $ (273)   $ (6,068)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI Emerging Markets E-Mini
 282 06/15/18 $ 15,816 $ (276,907)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
29
  

iShares® Edge MSCI Min Vol Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Consolidated Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $4,540,024,156   $   101,311,039   $    4,231,119   $4,645,566,314
Preferred Stocks
     7,780,056              —              —        7,780,056
Rights
            —         743,114              —          743,114
Money Market Funds
    44,286,749              —              —      44,286,749
  $4,592,090,961   $  102,054,153   $    4,231,119   $4,698,376,233
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $ (276,907)   $ —   $ —   $ (276,907)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
GDR
 Global Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
  
30

iShares® Edge MSCI Min Vol Global ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Belgium — 0.4%
Colruyt SA
     83,640 $     4,439,370
Proximus SADP
    137,350      3,673,129
UCB SA
     55,350     4,361,178
    12,473,677
Canada — 2.9%
Agnico Eagle Mines Ltd.
    203,770      9,140,746
Barrick Gold Corp.
    589,170      7,752,954
BCE Inc.
 216,890 9,030,395
Fairfax Financial Holdings Ltd.
 12,710 7,133,159
First Capital Realty Inc.
 135,710 2,199,063
Franco-Nevada Corp.
 270,600 19,072,586
Goldcorp Inc.
 362,850 5,183,172
Intact Financial Corp.
 205,000 15,495,105
RioCan REIT
 94,300 1,711,968
Rogers Communications Inc., Class B, NVS
 85,690 4,019,609
Shaw Communications Inc., Class B, NVS
 176,300 3,547,202
TELUS Corp.
 287,000 10,086,594
Thomson Reuters Corp.
 120,540 4,684,259
    99,056,812
Chile — 0.4%
Banco de Chile
 36,431,780 5,649,344
SACI Falabella
 863,460 8,073,669
    13,723,013
China — 2.7%
Agricultural Bank of China Ltd., Class H
 5,330,000 2,758,718
ANTA Sports Products Ltd.
 410,000 2,362,525
China Conch Venture Holdings Ltd.
 1,845,000 6,397,634
China First Capital Group Ltd.(a)
 1,640,000 1,643,314
China Huishan Dairy Holdings Co. Ltd.(a)(b)(c)
 3,106,800 4
China Mobile Ltd.
 2,255,000 20,123,277
China Railway Signal & Communication Corp. Ltd., Class H(d)
 1,640,000 1,281,618
China Reinsurance Group Corp., Class H
 6,970,000 1,563,866
China Resources Beer Holdings Co. Ltd.
 820,000 3,982,841
China Resources Pharmaceutical Group Ltd.(d)
 2,460,000 3,775,858
China Telecom Corp. Ltd., Class H
 8,200,000 3,826,036
China Unicom Hong Kong Ltd.
 2,460,000 3,343,077
Chong Sing Holdings FinTech Group Ltd.(a)
 22,604,000 2,996,903
COSCO SHIPPING Ports Ltd.(c)
 1,640,000 1,578,501
CSPC Pharmaceutical Group Ltd.
 820,000 2,566,371
Fullshare Holdings Ltd.(c)
 1,102,500 520,037
Guangdong Investment Ltd.
 4,100,000 6,909,863
Inner Mongolia Yitai Coal Co. Ltd., Class B
 600,000 802,200
Jiangsu Expressway Co. Ltd., Class H
 1,836,000 2,771,268
Lenovo Group Ltd.(c)
 4,100,000 2,174,359
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B
 1,763,031 2,626,916
Shenzhen International Holdings Ltd.
 1,230,000 2,690,770
Shenzhou International Group Holdings Ltd.
 410,000 4,798,225
Sinopec Shanghai Petrochemical Co. Ltd., Class H
 5,740,000 4,236,864
Tencent Holdings Ltd.
 41,000 2,086,549
Yum China Holdings Inc.
 127,920 5,027,256
    92,844,850
Czech Republic — 0.1%
Komercni Banka AS
 50,430 2,040,703
Denmark — 1.2%
Chr Hansen Holding A/S
 40,590 3,891,873
 Security Shares Value
Denmark (continued)
Coloplast A/S, Class B
     56,990 $     5,408,936
H Lundbeck A/S
    103,320      7,276,821
Orsted A/S(d)
    206,230     12,338,450
Pandora A/S
    100,450      7,895,420
William Demant Holding A/S(a)(c)
    153,750     5,589,112
    42,400,612
Finland — 0.1%
Elisa OYJ
     79,540     3,551,399
France — 0.8%
Dassault Systemes SE, NVS
 58,630 8,222,920
Hermes International, NVS
 26,240 18,647,510
    26,870,430
Germany — 0.4%
MAN SE
 51,660 5,614,182
TUI AG
 241,080 5,604,259
Uniper SE
 64,370 2,038,523
    13,256,964
Hong Kong — 3.6%
CK Infrastructure Holdings Ltd.
 1,025,000 7,735,701
CLP Holdings Ltd.
 2,255,000 23,687,971
Hang Seng Bank Ltd.(c)
 1,148,000 28,728,721
HK Electric Investments & HK Electric Investments Ltd.(c)(d)
 4,100,000 3,961,934
HKT Trust & HKT Ltd.
 5,740,000 7,207,792
Hong Kong & China Gas Co. Ltd.
 4,510,852 9,753,007
Jardine Matheson Holdings Ltd.
 82,000 5,120,080
Jardine Strategic Holdings Ltd.
 82,000 2,935,600
Link REIT
 1,025,000 9,068,542
MTR Corp. Ltd.
 2,255,000 12,692,038
PCCW Ltd.(c)
 6,560,000 3,863,669
Power Assets Holdings Ltd.
 820,000 5,702,466
Yue Yuen Industrial Holdings Ltd.
 615,000 1,901,258
    122,358,779
India — 2.1%
Asian Paints Ltd.
 205,820 3,979,151
Bajaj Finserv Ltd.
 42,230 3,781,191
Britannia Industries Ltd.
 37,310 3,275,258
Coal India Ltd.
 934,800 4,103,797
Dabur India Ltd.
 517,830 2,941,270
Eicher Motors Ltd.
 13,120 5,984,398
HCL Technologies Ltd.
 322,122 4,345,479
Hero MotoCorp Ltd.
 43,633 2,292,070
Hindustan Unilever Ltd.
 111,520 2,663,044
Infosys Ltd.
 410,000 7,483,985
InterGlobe Aviation Ltd.(d)
 123,065 2,223,495
Maruti Suzuki India Ltd.
 71,340 9,025,212
Petronet LNG Ltd.
 799,500 2,602,307
Pidilite Industries Ltd.
 154,160 2,644,472
Sun Pharmaceutical Industries Ltd.
 216,480 1,540,935
Tata Consultancy Services Ltd.
 132,840 3,427,275
Wipro Ltd., ADR, NVS(c)
 2,301,453 10,586,684
    72,900,023
Indonesia — 0.7%
Bank Central Asia Tbk PT
 8,487,000 13,865,052
Kalbe Farma Tbk PT
 16,810,000 1,657,409
Telekomunikasi Indonesia Persero Tbk PT
 18,614,000 4,715,458
Unilever Indonesia Tbk PT
 902,000 2,960,144
    23,198,063
 
 
31
  

iShares® Edge MSCI Min Vol Global ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Ireland — 0.5%
AIB Group PLC
    308,320 $     1,682,181
Kerry Group PLC, Class A
     98,810     10,397,981
Ryanair Holdings PLC, ADR, NVS(a)
     29,520     3,421,663
    15,501,825
Isreal — 0.5%
Azrieli Group Ltd.
     53,710      2,617,062
Bank Hapoalim BM
    337,020      2,325,286
Bank Leumi Le-Israel BM
    397,290      2,476,031
Check Point Software Technologies Ltd.(a)(c)
 29,520 2,874,067
Mizrahi Tefahot Bank Ltd.
 208,280 3,977,693
Nice Ltd.(a)
 13,530 1,419,040
    15,689,179
Italy — 0.4%
Luxottica Group SpA
 66,010 4,105,408
Snam SpA
 2,205,390 9,030,824
    13,136,232
Japan — 12.8%
ABC-Mart Inc.
 45,900 2,830,595
Ajinomoto Co. Inc.
 164,000 3,139,012
ANA Holdings Inc.
 164,000 6,614,644
Asahi Group Holdings Ltd.
 41,000 2,149,533
Astellas Pharma Inc.
 1,025,000 15,703,553
Benesse Holdings Inc.(c)
 123,000 4,483,225
Canon Inc.
 574,000 19,622,035
Daiichi Sankyo Co. Ltd.
 223,600 7,192,986
Daito Trust Construction Co. Ltd.
 41,000 6,705,969
Daiwa House REIT Investment Corp.
 1,230 2,905,039
Eisai Co. Ltd.
 51,500 3,733,863
FamilyMart UNY Holdings Co. Ltd.(c)
 41,000 4,264,347
FUJIFILM Holdings Corp.
 91,800 3,533,597
Hamamatsu Photonics KK
 123,000 5,349,303
Hankyu Hanshin Holdings Inc.
 41,000 1,694,418
Japan Airlines Co. Ltd.
 164,000 6,367,085
Japan Post Bank Co. Ltd.
 164,000 2,054,434
Japan Prime Realty Investment Corp.
 1,230 4,477,565
Japan Real Estate Investment Corp.
 1,230 6,464,448
Japan Retail Fund Investment Corp.
 2,870 5,214,580
KDDI Corp.
 82,000 2,223,121
Keikyu Corp.(c)
 123,000 2,075,190
Keyence Corp.
 25,000 15,378,066
Kintetsu Group Holdings Co. Ltd.
 45,900 1,924,382
Kirin Holdings Co. Ltd.
 205,000 5,839,891
Konami Holdings Corp.
 41,000 1,928,391
Kyushu Railway Co.
 211,800 6,754,908
Lawson Inc.
 82,000 5,351,190
LINE Corp.(a)(c)
 41,000 1,490,635
McDonald's Holdings Co. Japan Ltd.
 96,400 4,862,368
MEIJI Holdings Co. Ltd.
 82,000 6,996,548
Mitsubishi Tanabe Pharma Corp.
 369,000 6,622,946
Nagoya Railroad Co. Ltd.
 287,000 7,391,284
Nippon Building Fund Inc.
 1,230 6,905,978
Nippon Prologis REIT Inc.
 2,870 5,996,502
Nippon Telegraph & Telephone Corp.
 410,000 19,268,811
Nissan Motor Co. Ltd.
 574,000 5,708,565
Nissin Foods Holdings Co. Ltd.(c)
 82,000 6,113,489
Nitori Holdings Co. Ltd.(c)
 47,200 8,130,590
Nomura Real Estate Master Fund Inc.
 5,740 8,051,691
Nomura Research Institute Ltd.
 125,830 6,346,803
NTT Data Corp.
 738,000 8,266,796
 Security Shares Value
Japan (continued)
NTT DOCOMO Inc.
  1,312,000 $    34,030,245
Ono Pharmaceutical Co. Ltd.
    164,000      4,074,905
Oracle Corp. Japan(a)
     45,900      3,502,333
Oriental Land Co. Ltd./Japan
    137,700     14,131,851
Otsuka Corp.
    164,000      6,785,218
Otsuka Holdings Co. Ltd.
    205,000     10,224,999
Park24 Co. Ltd.
    164,000      4,434,921
Recruit Holdings Co. Ltd.
     82,000      2,286,898
Sankyo Co. Ltd.
 82,000 3,256,754
Secom Co. Ltd.
 205,000 15,319,573
Shimadzu Corp.
 123,000 3,402,043
Shimamura Co. Ltd.
 41,000 4,196,420
Shionogi & Co. Ltd.
 41,000 2,156,326
Suntory Beverage & Food Ltd.
 205,000 9,132,496
Taisho Pharmaceutical Holdings Co. Ltd.
 45,900 4,888,057
Takeda Pharmaceutical Co. Ltd.
 246,000 10,080,464
Terumo Corp.(c)
 82,000 4,875,696
Tobu Railway Co. Ltd.
 287,000 8,915,505
Toho Co. Ltd./Tokyo
 82,000 2,852,961
Toyo Suisan Kaisha Ltd.
 123,000 4,398,316
Tsuruha Holdings Inc.
 41,000 6,109,715
United Urban Investment Corp.
 4,510 6,924,092
USS Co. Ltd.
 82,000 1,555,543
Yahoo Japan Corp.(c)
 1,271,000 4,632,666
Yamada Denki Co. Ltd.(c)
 943,000 4,895,320
Yamazaki Baking Co. Ltd.(c)
 164,000 3,562,428
    438,754,121
Malaysia — 0.8%
Hong Leong Bank Bhd
 984,000 4,741,990
IHH Healthcare Bhd(c)
 2,255,000 3,399,497
Malayan Banking Bhd
 2,214,000 5,373,678
Maxis Bhd(c)
 2,747,000 3,996,264
Petronas Dagangan Bhd
 328,000 2,063,598
Public Bank Bhd
 1,558,060 9,340,531
    28,915,558
Netherlands — 0.3%
Koninklijke Ahold Delhaize NV
 136,530 3,132,286
NXP Semiconductors NV(a)
 73,800 8,413,200
    11,545,486
New Zealand — 0.2%
Fisher & Paykel Healthcare Corp. Ltd.
 275,520 2,567,271
Spark New Zealand Ltd.
 1,487,070 3,818,854
    6,386,125
Peru — 0.1%
Cia. de Minas Buenaventura SAA, ADR, NVS
 128,330 1,985,265
Credicorp Ltd.
 13,120 2,905,031
    4,890,296
Philippines — 0.3%
Bank of the Philippine Islands
 1,324,309 2,394,749
BDO Unibank Inc.
 3,079,109 7,648,613
Jollibee Foods Corp.
 352,600 1,838,993
    11,882,355
Qatar — 0.2%
Qatar National Bank QPSC
 185,320 8,048,038
Singapore — 1.2%
CapitaLand Commercial Trust
 3,649,000 4,665,438
CapitaLand Mall Trust
 3,567,000 5,520,722
Oversea-Chinese Banking Corp. Ltd.
 410,000 3,844,181
 
 
  
32

iShares® Edge MSCI Min Vol Global ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Singapore (continued)
SATS Ltd.
  1,074,200 $     4,144,358
Singapore Airlines Ltd.
    820,000      6,915,848
Singapore Press Holdings Ltd.(c)
  1,439,500      2,830,674
Singapore Telecommunications Ltd.
  6,068,000     14,881,334
StarHub Ltd.
     12,800        18,471
    42,821,026
South Korea — 0.4%
DB Insurance Co. Ltd.
     28,290      1,535,289
KT&G Corp.
 20,090 1,789,174
NAVER Corp.
 2,460 1,526,731
S-1 Corp.
 28,290 2,319,993
Samsung Fire & Marine Insurance Co. Ltd.
 13,940 3,239,454
SK Telecom Co. Ltd.
 13,940 2,870,894
    13,281,535
Spain — 0.1%
Amadeus IT Group SA
 32,390 2,567,220
Switzerland — 4.3%
Chocoladefabriken Lindt & Spruengli AG, Registered
 146 11,063,981
EMS-Chemie Holding AG, Registered
 11,076 6,945,737
Givaudan SA, Registered
 820 1,830,841
Kuehne + Nagel International AG, Registered
 79,130 11,960,857
Nestle SA, Registered
 405,900 30,709,838
Novartis AG, Registered
 207,460 15,396,482
Partners Group Holding AG
 13,120 9,502,024
Roche Holding AG, NVS
 78,310 16,811,439
Schindler Holding AG, Registered
 31,160 6,408,862
Sika AG, Bearer
 441 3,530,333
Sonova Holding AG, Registered
 70,930 12,409,684
Swiss Prime Site AG, Registered
 70,930 6,634,130
Swisscom AG, Registered
 35,260 15,766,754
    148,970,962
Taiwan — 4.1%
Asustek Computer Inc.
 918,000 8,318,575
Chang Hwa Commercial Bank Ltd.
 7,380,361 4,323,059
Chicony Electronics Co. Ltd.
 820,956 1,939,946
Chunghwa Telecom Co. Ltd.
 5,755,000 20,936,702
Compal Electronics Inc.
 2,870,000 1,887,055
CTBC Financial Holding Co. Ltd.
 2,870,000 2,069,055
E.Sun Financial Holding Co. Ltd.
 8,200,557 5,720,396
Far EasTone Telecommunications Co. Ltd.
 2,460,000 6,272,850
First Financial Holding Co. Ltd.
 14,350,894 9,747,199
Formosa Petrochemical Corp.
 2,050,000 8,313,169
Hon Hai Precision Industry Co. Ltd.
 2,870,400 8,210,313
Hua Nan Financial Holdings Co. Ltd.
 11,070,261 6,613,743
Innolux Corp.
 5,330,000 2,063,582
Mega Financial Holding Co. Ltd.
 14,350,000 12,572,385
Quanta Computer Inc.
 820,000 1,450,528
Synnex Technology International Corp.
 2,050,250 3,284,615
Taiwan Cooperative Financial Holding Co. Ltd.
 12,300,454 7,246,066
Taiwan Mobile Co. Ltd.
 2,460,000 9,031,590
Taiwan Semiconductor Manufacturing Co. Ltd.
 2,050,000 15,326,335
United Microelectronics Corp.
 2,870,000 1,594,897
WPG Holdings Ltd.
 1,640,000 2,381,056
    139,303,116
Thailand — 0.8%
Airports of Thailand PCL, NVDR
 2,788,000 5,969,928
Bangkok Dusit Medical Services PCL, NVDR
 5,863,000 4,902,634
Bangkok Expressway & Metro PCL, NVDR
 11,398,000 2,921,651
 Security Shares Value
Thailand (continued)
BTS Group Holdings PCL, NVDR(c)
  9,266,000 $     2,809,634
Bumrungrad Hospital PCL, NVDR
    533,000      3,207,330
CP ALL PCL, NVDR
  1,025,000      2,587,332
Home Product Center PCL, NVDR
  6,970,000      3,181,057
IRPC PCL, NVDR
  3,280,000        676,711
Krung Thai Bank PCL, NVDR
  5,166,000     2,826,039
    29,082,316
United Arab Emirates — 0.2%
Emirates Telecommunications Group Co. PJSC
 1,177,520 5,193,315
First Abu Dhabi Bank PJSC
 801,140 2,682,717
    7,876,032
United Kingdom — 0.9%
AstraZeneca PLC
 27,470 1,997,986
Compass Group PLC
 435,830 9,380,489
GlaxoSmithKline PLC
 508,810 10,318,218
Kingfisher PLC
 420,250 1,706,697
Randgold Resources Ltd.
 53,300 4,232,725
Royal Mail PLC
 549,810 3,723,870
    31,359,985
United States — 55.6%
Abbott Laboratories
 153,340 9,435,010
Accenture PLC, Class A
 27,880 4,342,031
Adobe Systems Inc.(a)
 22,960 5,723,469
Aetna Inc.
 67,650 11,915,194
AGNC Investment Corp.
 579,740 10,910,707
Alleghany Corp.
 20,090 11,462,550
Allstate Corp. (The)
 168,510 15,752,315
Alphabet Inc., Class C, NVS(a)
 1,230 1,334,538
Altria Group Inc.
 398,520 22,213,505
Ameren Corp.
 50,430 2,984,952
American Electric Power Co. Inc.
 110,290 7,494,206
American Tower Corp.
 14,760 2,042,341
American Water Works Co. Inc.
 84,460 7,022,004
Amphenol Corp., Class A
 79,540 6,914,412
Annaly Capital Management Inc.
 1,618,270 16,878,556
ANSYS Inc.(a)
 75,440 12,281,632
Aon PLC
 63,550 8,888,739
Apple Inc.
 18,860 3,524,368
Aramark
 110,700 4,297,374
Arch Capital Group Ltd.(a)
 198,850 15,599,782
AT&T Inc.
 588,760 19,028,723
Athene Holding Ltd., Class A, NVS(a)
 126,280 5,640,928
Automatic Data Processing Inc.
 132,430 17,218,549
AutoZone Inc.(a)
 13,530 8,785,300
AvalonBay Communities Inc.
 106,190 17,578,693
Axis Capital Holdings Ltd.
 123,820 7,039,167
Baxter International Inc.
 198,850 14,086,534
Becton Dickinson and Co.
 39,360 8,721,782
Berkshire Hathaway Inc., Class B(a)
 100,450 19,239,188
Boston Scientific Corp.(a)
 148,010 4,498,024
Bristol-Myers Squibb Co.
 76,260 4,012,801
Broadridge Financial Solutions Inc.
 121,770 14,058,346
Campbell Soup Co.
 117,670 3,958,419
CH Robinson Worldwide Inc.
 143,090 12,448,830
Chevron Corp.
 18,450 2,293,335
Chubb Ltd.
 113,980 14,896,046
Church & Dwight Co. Inc.
 328,000 15,399,600
Cigna Corp.
 11,070 1,874,926
Cincinnati Financial Corp.
 96,760 6,712,241
 
 
33
  

iShares® Edge MSCI Min Vol Global ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United States (continued)
Cintas Corp.
     11,480 $     2,092,230
Cisco Systems Inc.
    183,680      7,844,973
Clorox Co. (The)
    151,290     18,280,371
CMS Energy Corp.
     36,900      1,702,197
Coca-Cola Co. (The)
    584,660     25,140,380
Cognizant Technology Solutions Corp., Class A
     27,060      2,038,971
Colgate-Palmolive Co.
    129,150      8,148,074
Comcast Corp., Class A
    343,990     10,725,608
CommScope Holding Co. Inc.(a)
 134,890 3,954,975
Conagra Brands Inc.
 57,400 2,127,244
Consolidated Edison Inc.
 456,330 35,014,201
Constellation Brands Inc., Class A
 38,540 8,597,503
Cooper Companies Inc. (The)
 8,610 1,948,529
Costco Wholesale Corp.
 38,130 7,558,891
Crown Castle International Corp.
 109,470 11,401,300
CVS Health Corp.
 45,920 2,910,869
Danaher Corp.
 67,240 6,675,587
Darden Restaurants Inc.
 37,720 3,297,105
Dell Technologies Inc., Class V(a)
 43,050 3,472,413
Dollar General Corp.
 39,770 3,479,080
Dominion Energy Inc.
 254,610 16,343,416
Dr Pepper Snapple Group Inc.
 196,390 23,429,327
DTE Energy Co.
 47,560 4,871,571
Duke Energy Corp.
 300,120 23,157,259
eBay Inc.(a)
 91,840 3,464,205
Ecolab Inc.
 23,780 3,391,266
Edison International
 31,160 1,936,906
Eli Lilly & Co.
 266,910 22,698,026
Entergy Corp.
 29,110 2,355,290
Equity Residential
 119,720 7,660,883
Essex Property Trust Inc.
 12,300 2,940,069
Estee Lauder Companies Inc. (The), Class A
 20,910 3,124,790
Everest Re Group Ltd.
 42,230 9,513,997
Eversource Energy
 70,520 4,025,282
Expeditors International of Washington Inc.
 222,630 16,581,482
Exxon Mobil Corp.
 320,210 26,013,860
F5 Networks Inc.(a)
 79,950 13,840,144
Facebook Inc., Class A(a)
 74,620 14,310,624
Federal Realty Investment Trust
 14,350 1,706,072
Fidelity National Information Services Inc.
 127,920 13,075,982
Fiserv Inc.(a)
 244,360 17,740,536
FNF Group
 117,670 4,349,083
General Dynamics Corp.
 8,610 1,736,723
General Mills Inc.
 102,910 4,352,064
Genuine Parts Co.
 35,670 3,238,479
Gilead Sciences Inc.
 25,010 1,685,674
Harris Corp.
 88,560 13,325,623
HCA Healthcare Inc.
 17,220 1,776,071
Henry Schein Inc.(a)(c)
 82,410 5,702,772
Hershey Co. (The)
 56,990 5,131,380
Home Depot Inc. (The)
 48,380 9,025,289
Hormel Foods Corp.
 130,380 4,679,338
Humana Inc.
 21,320 6,203,694
Intel Corp.
 78,720 4,345,344
International Business Machines Corp.
 73,390 10,370,741
Intuit Inc.
 15,990 3,223,584
Jack Henry & Associates Inc.
 112,750 14,100,515
JM Smucker Co. (The)
 63,960 6,875,700
Johnson & Johnson
 369,410 44,188,824
Kellogg Co.
 223,450 14,387,945
 Security Shares Value
United States (continued)
Kimberly-Clark Corp.
     94,710 $     9,551,504
Kraft Heinz Co. (The)
     77,490      4,454,125
L3 Technologies Inc.
     15,170      3,008,666
Laboratory Corp. of America Holdings(a)
     77,490     13,993,919
Liberty Broadband Corp., Class C, NVS(a)
     36,900      2,541,303
Lockheed Martin Corp.
     99,220     31,208,659
Lowe's Companies Inc.
     20,910      1,986,659
Markel Corp.(a)(c)
     20,910     22,939,943
Marsh & McLennan Companies Inc.
 275,110 22,110,591
Mastercard Inc., Class A
 45,510 8,652,361
McCormick & Co. Inc./MD, NVS
 179,170 18,096,170
McDonald's Corp.
 233,700 37,394,337
Medtronic PLC
 154,980 13,377,874
Merck & Co. Inc.
 378,020 22,503,531
Microsoft Corp.
 27,060 2,674,610
Monsanto Co.
 232,060 29,578,368
Motorola Solutions Inc.
 221,400 23,765,076
Newmont Mining Corp.
 309,140 12,034,820
NextEra Energy Inc.
 138,990 23,045,932
Northrop Grumman Corp.
 129,970 42,532,682
O'Reilly Automotive Inc.(a)
 19,270 5,191,531
Occidental Petroleum Corp.
 88,970 7,491,274
Oracle Corp.
 61,500 2,873,280
Palo Alto Networks Inc.(a)
 33,620 6,995,986
Paychex Inc.
 283,720 18,606,358
PepsiCo Inc.
 270,600 27,127,650
Pfizer Inc.
 600,240 21,566,623
Philip Morris International Inc.
 39,360 3,130,694
Procter & Gamble Co. (The)
 422,300 30,899,691
Progressive Corp. (The)
 157,850 9,800,906
Public Storage(c)
 63,140 13,375,578
Raytheon Co.
 152,110 31,867,045
Realty Income Corp.(c)
 100,040 5,332,132
RenaissanceRe Holdings Ltd.
 59,450 7,298,677
Republic Services Inc.
 341,120 23,001,722
Rockwell Collins Inc.
 104,140 14,320,291
Rollins Inc.
 41,820 2,081,381
Ross Stores Inc.
 57,810 4,560,053
Sherwin-Williams Co. (The)
 6,560 2,487,880
Southern Co. (The)
 576,460 25,883,054
Starbucks Corp.
 191,470 10,850,605
Stryker Corp.
 116,440 20,262,889
Synopsys Inc.(a)
 206,230 18,162,676
Sysco Corp.
 127,510 8,291,975
Tapestry Inc.
 157,440 6,883,277
Texas Instruments Inc.
 20,500 2,294,155
Time Warner Inc.
 201,310 18,955,350
TJX Companies Inc. (The)
 290,690 26,255,121
Travelers Companies Inc. (The)
 105,370 13,542,152
Tyson Foods Inc., Class A
 33,620 2,268,341
UDR Inc.
 252,560 9,210,863
Ulta Salon Cosmetics & Fragrance Inc.(a)
 8,200 2,024,662
UnitedHealth Group Inc.
 85,690 20,694,992
Universal Health Services Inc., Class B
 18,860 2,168,523
Varian Medical Systems Inc.(a)
 25,830 3,044,582
VeriSign Inc.(a)
 31,160 4,064,510
Verizon Communications Inc.
 584,250 27,851,197
Visa Inc., Class A
 269,370 35,212,046
Walmart Inc.
 262,400 21,658,496
Walt Disney Co. (The)
 34,850 3,466,530
 
 
  
34

iShares® Edge MSCI Min Vol Global ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United States (continued)
Waste Management Inc.
    412,460 $    34,114,567
WEC Energy Group Inc.
    316,110     19,962,346
Welltower Inc.
     49,200      2,836,380
Westar Energy Inc.
     71,750      4,068,225
Worldpay Inc., Class A(a)
     64,370      5,115,484
WR Berkley Corp.
    144,320     11,036,150
Xcel Energy Inc.
    436,240     19,857,645
XL Group Ltd.
     91,020      5,058,892
Yum! Brands Inc.
 63,960 5,201,867
    1,909,556,882
Total Common Stocks — 99.1%

(Cost: $3,046,330,067)
 3,404,243,614
Preferred Stocks
Italy — 0.1%
Intesa Sanpaolo SpA, Preference Shares, NVS
 1,264,440 3,800,650
Total Preferred Stocks — 0.1%

(Cost: $3,805,175)
 3,800,650
Short-Term Investments
Money Market Funds — 2.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(e)(f)(g)
 62,112,744 62,125,166
 Security Shares Value
Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(e)(f)
 13,513,184 $    13,513,184
    75,638,350
Total Short-Term Investments — 2.2%

(Cost: $75,626,338)
 75,638,350
Total Investments in Securities — 101.4%

(Cost: $3,125,761,580)
 3,483,682,614
Other Assets, Less Liabilities — (1.4)%
 (48,695,351)
Net Assets — 100.0%
 $ 3,434,987,263
    
(a) Non-income producing security.
(b) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(c) All or a portion of this security is on loan.
(d) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(e) Affiliate of the Fund.
(f) Annualized 7-day yield as of period-end.
(g) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 56,910,361 5,202,383 62,112,744 $62,125,166   $359,631 (a)   $ (7,037)   $ (1,792)
BlackRock Cash Funds: Treasury, SL Agency Shares
 2,465,143 11,048,041 13,513,184 13,513,184   48,416   —   —
        $75,638,350   $408,047   $ (7,037)   $ (1,792)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI EAFE E-Mini
 73 06/15/18 $ 7,253 $ (26,263)
MSCI Emerging Markets E-Mini
 52 06/15/18 2,916 (44,112)
S&P 500 E-Mini
 65 06/15/18 8,793 8,163
        $ (62,212)
35
  

iShares® Edge MSCI Min Vol Global ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $3,396,195,572   $    8,048,038   $            4   $3,404,243,614
Preferred Stocks
     3,800,650              —              —        3,800,650
Money Market Funds
    75,638,350              —              —      75,638,350
  $3,475,634,572   $    8,048,038   $            4   $3,483,682,614
Derivative financial instruments(a)              
Assets              
Futures Contracts
 $        8,163   $            —   $            —   $        8,163
Liabilities              
Futures Contracts
 (70,375)   —   —   (70,375)
  $ (62,212)   $ —   $ —   $ (62,212)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
  
36

iShares® Edge MSCI Multifactor Emerging Markets ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Brazil — 3.9%
BB Seguridade Participacoes SA
    352,000 $   2,463,211
Cia. de Saneamento Basico do Estado de Sao Paulo
    170,500    1,197,238
EDP - Energias do Brasil SA
    159,500      566,209
Hypera SA
    159,500    1,207,798
IRB Brasil Resseguros S/A
     49,500      640,939
Lojas Renner SA
    324,500    2,585,334
M. Dias Branco SA
     50,300      567,286
Odontoprev SA
 130,626 489,666
Porto Seguro SA
 44,000 502,260
Sul America SA, NVS
 104,578 549,841
    10,769,782
Chile — 0.2%
Cia. Cervecerias Unidas SA
 45,375 577,136
China — 38.4%
51job Inc., ADR(a)
 11,110 1,182,104
AAC Technologies Holdings Inc.
 55,000 828,069
Agile Group Holdings Ltd.
 770,000 1,468,508
Alibaba Group Holding Ltd., ADR(a)
 28,325 5,608,633
Angang Steel Co. Ltd., Class H
 550,000 545,502
ANTA Sports Products Ltd.
 495,000 2,852,317
Autohome Inc., ADR
 26,730 3,013,006
BOC Aviation Ltd.(b)
 82,500 512,197
BYD Electronic International Co. Ltd.(c)
 330,000 524,187
China Agri-Industries Holdings Ltd.
 1,100,000 466,972
China Communications Services Corp. Ltd., Class H
 1,138,000 732,635
China Conch Venture Holdings Ltd.
 891,000 3,089,589
China Everbright Ltd.
 440,000 967,039
China Medical System Holdings Ltd.
 605,000 1,457,711
China Reinsurance Group Corp., Class H
 2,475,000 555,318
China Resources Cement Holdings Ltd.
 880,000 1,036,594
China Travel International Investment Hong Kong Ltd.
 834,000 369,998
China Zhongwang Holdings Ltd.
 775,600 420,224
Chongqing Rural Commercial Bank Co. Ltd., Class H
 1,210,000 808,297
COSCO SHIPPING Ports Ltd.
 880,000 847,001
CSPC Pharmaceutical Group Ltd.
 2,200,000 6,885,386
Dongfeng Motor Group Co. Ltd., Class H
 1,320,000 1,506,091
Geely Automobile Holdings Ltd.
 770,000 2,184,112
Guangzhou Automobile Group Co. Ltd., Class H
 990,000 1,678,576
Haitian International Holdings Ltd.
 330,000 936,048
Huaneng Renewables Corp. Ltd., Class H
 2,200,000 945,163
Jiangsu Expressway Co. Ltd., Class H
 550,000 830,173
Kingboard Chemical Holdings Ltd.
 330,000 1,312,571
Kingboard Laminates Holdings Ltd.
 522,500 692,746
Kingdee International Software Group Co. Ltd.
 880,000 965,917
Lee & Man Paper Manufacturing Ltd.
 715,000 838,587
Logan Property Holdings Co. Ltd.
 660,000 992,842
Longfor Properties Co. Ltd.
 687,500 2,059,656
Luye Pharma Group Ltd.
 165,000 181,109
New Oriental Education & Technology Group Inc., ADR
 63,635 6,329,773
Nexteer Automotive Group Ltd.
 440,000 725,840
Nine Dragons Paper Holdings Ltd.
 770,000 1,225,066
People's Insurance Co. Group of China Ltd. (The), Class H
 3,520,000 1,664,833
PICC Property & Casualty Co. Ltd., Class H
 2,200,000 3,876,009
Shandong Weigao Group Medical Polymer Co. Ltd., Class H
 880,000 757,252
Shanghai Industrial Holdings Ltd.
 239,000 635,270
 Security Shares Value
China (continued)
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
    330,000 $   1,020,187
Shenzhen International Holdings Ltd.
    412,500      902,392
Sihuan Pharmaceutical Holdings Group Ltd.
  1,815,000      469,707
Sino Biopharmaceutical Ltd.
  2,200,000    5,564,401
Sino-Ocean Group Holding Ltd.
  1,457,500      984,778
Sinopec Shanghai Petrochemical Co. Ltd., Class H
  1,540,000    1,136,720
Sinotrans Ltd., Class H
    880,000      499,226
Sinotruk Hong Kong Ltd.
    330,000      466,972
SSY Group Ltd.
 660,000 705,927
Sun Art Retail Group Ltd.
 1,127,500 1,328,136
Sunny Optical Technology Group Co. Ltd.
 319,000 6,490,493
TAL Education Group, Class A, ADR(a)
 14,740 625,860
Tencent Holdings Ltd.
 181,500 9,236,794
Towngas China Co. Ltd.
 330,000 323,936
Uni-President China Holdings Ltd.
 550,000 592,480
Yum China Holdings Inc.
 149,160 5,861,988
Yuzhou Properties Co. Ltd.
 770,000 541,856
YY Inc., ADR(a)
 21,505 2,505,978
Zhongsheng Group Holdings Ltd.
 247,500 793,537
    104,560,289
Czech Republic — 0.4%
Moneta Money Bank AS(b)
 244,090 851,991
O2 Czech Republic AS
 27,142 343,612
    1,195,603
Egypt — 0.2%
Commercial International Bank Egypt SAE
 101,970 480,020
Eastern Tobacco
 21,835 215,629
    695,649
Hungary — 0.2%
MOL Hungarian Oil & Gas PLC
 66,660 627,492
India — 0.0%
Rural Electrification Corp. Ltd.
 100 175
Indonesia — 3.0%
Adaro Energy Tbk PT
 7,485,500 1,015,485
Bank Danamon Indonesia Tbk PT
 1,468,500 615,618
Bank Negara Indonesia Persero Tbk PT
 3,740,000 2,281,144
Bank Tabungan Negara Persero Tbk PT
 1,908,500 418,922
Indah Kiat Pulp & Paper Corp. Tbk PT
 1,278,900 1,721,154
United Tractors Tbk PT
 836,000 2,108,802
    8,161,125
Malaysia — 1.9%
AirAsia Group Bhd(c)
 786,500 606,672
Alliance Bank Malaysia Bhd(c)
 561,000 597,648
Hartalega Holdings Bhd
 605,000 927,262
Nestle Malaysia Bhd
 27,500 1,022,613
PPB Group Bhd(c)
 242,000 1,211,216
Top Glove Corp. Bhd
 308,000 793,990
    5,159,401
Peru — 1.2%
Credicorp Ltd.
 14,465 3,202,840
Philippines — 0.2%
DMCI Holdings Inc.
 2,436,500 500,884
Poland — 0.5%
Dino Polska SA(a)(b)
 21,725 654,143
Jastrzebska Spolka Weglowa SA(a)
 26,950 607,654
    1,261,797
 
 
37
  

iShares® Edge MSCI Multifactor Emerging Markets ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Russia — 2.9%
Alrosa PJSC
     84,000 $     119,004
Inter RAO UES PJSC
 12,045,000      788,474
Mobile TeleSystems PJSC, ADR, NVS
     35,475      339,850
RusHydro PJSC
 46,200,000      536,588
Tatneft PJSC
    571,905   6,115,674
    7,899,590
South Africa — 5.8%
Bidvest Group Ltd. (The)
    163,900    2,614,118
Capitec Bank Holdings Ltd.
 19,525 1,348,080
Coronation Fund Managers Ltd.
 118,195 583,369
Exxaro Resources Ltd.
 124,575 1,232,963
Investec Ltd.
 115,775 842,191
Kumba Iron Ore Ltd.
 30,800 705,664
Liberty Holdings Ltd.
 62,150 596,080
Mondi Ltd.
 61,435 1,701,262
Mr. Price Group Ltd.
 124,080 2,459,067
Netcare Ltd.
 469,315 1,097,230
RMB Holdings Ltd.
 98,285 563,635
SPAR Group Ltd. (The)
 96,937 1,475,295
Telkom SA SOC Ltd.
 144,045 589,601
    15,808,555
South Korea — 17.1%
BNK Financial Group Inc.
 128,755 1,138,304
DB Insurance Co. Ltd.
 24,255 1,316,311
DGB Financial Group Inc.
 87,175 837,016
E-MART Inc.
 10,065 2,334,292
Hana Financial Group Inc.
 144,210 5,565,319
Hankook Tire Co. Ltd.
 38,115 1,515,124
Hanwha Chemical Corp.
 54,175 1,299,155
Hanwha Corp.
 21,780 727,381
Hanwha Life Insurance Co. Ltd.
 134,255 693,725
Hyosung Corp.
 10,244 1,273,432
Hyundai Department Store Co. Ltd.
 6,655 694,547
Hyundai Marine & Fire Insurance Co. Ltd.
 30,965 978,114
Hyundai Steel Co.
 41,415 2,374,365
ING Life Insurance Korea Ltd.(b)
 14,960 557,903
KT&G Corp.
 2,970 264,502
Kumho Petrochemical Co. Ltd.
 8,690 846,468
LG Corp.
 29,370 1,999,868
LG Display Co. Ltd.
 115,720 2,383,213
Lotte Chemical Corp.
 7,975 2,726,274
Samsung Electronics Co. Ltd.
 140,525 6,609,414
SK Hynix Inc.
 87,010 7,539,064
SK Telecom Co. Ltd.
 9,625 1,982,235
Yuhan Corp.
 3,795 837,896
    46,493,922
Taiwan — 13.5%
Airtac International Group
 55,000 945,380
AU Optronics Corp.
 4,083,000 1,792,015
Chicony Electronics Co. Ltd.
 275,621 651,301
China Life Insurance Co. Ltd./Taiwan
 1,624,320 1,705,017
Feng TAY Enterprise Co. Ltd.
 165,880 736,346
General Interface Solution Holding Ltd.
 55,000 351,534
Hiwin Technologies Corp.
 110,000 1,560,336
Innolux Corp.
 4,455,000 1,724,813
Inventec Corp.
 1,265,000 1,023,856
Lite-On Technology Corp.
 1,045,718 1,364,670
Macronix International(a)
 880,000 1,453,866
Micro-Star International Co. Ltd.
 330,000 1,376,767
 Security Shares Value
Taiwan (continued)
Nanya Technology Corp.
    330,000 $   1,097,008
Novatek Microelectronics Corp.
    275,000    1,243,679
Phison Electronics Corp.
     55,000      505,732
Powertech Technology Inc.
    165,000      492,332
Realtek Semiconductor Corp.
    220,000      840,746
Ruentex Industries Ltd.
    275,000      562,639
Shin Kong Financial Holding Co. Ltd.
  3,685,000    1,475,894
Synnex Technology International Corp.
    605,000      969,244
Taiwan Business Bank
 1,155,504 352,881
Taiwan Semiconductor Manufacturing Co. Ltd.
 550,000 4,111,944
Teco Electric and Machinery Co. Ltd.
 825,000 664,978
United Microelectronics Corp.
 4,840,000 2,689,652
Win Semiconductors Corp.
 165,000 1,340,971
Wistron Corp.
 1,002,906 754,820
WPG Holdings Ltd.
 1,063,000 1,543,331
Yageo Corp.
 110,000 3,491,481
    36,823,233
Thailand — 0.9%
Central Pattana PCL, NVDR
 693,000 1,651,805
Robinson PCL, NVDR(c)
 269,500 530,744
TMB Bank PCL, NVDR
 2,541,000 196,989
    2,379,538
Turkey — 0.5%
Aselsan Elektronik Sanayi Ve Ticaret AS
 115,128 598,799
Turkiye Sise ve Cam Fabrikalari AS
 229,968 201,715
Turkiye Vakiflar Bankasi TAO, Class D
 255,584 308,113
Yapi ve Kredi Bankasi AS(a)
 271,562 240,593
    1,349,220
United Arab Emirates — 1.6%
Aldar Properties PJSC
 2,067,120 1,153,668
DAMAC Properties Dubai Co. PJSC
 962,940 626,554
Dubai Investments PJSC
 1,026,575 575,731
Dubai Islamic Bank PJSC
 526,706 727,005
Emaar Properties PJSC
 886,105 1,254,440
    4,337,398
Total Common Stocks — 92.4%

(Cost: $239,479,119)
 251,803,629
Investment Companies
India — 3.0%
iShares MSCI India ETF(d)
 240,930 8,107,295
Total Investment Companies — 3.0%

(Cost: $8,187,776)
 8,107,295
Preferred Stocks
Brazil — 2.2%
Itausa-Investimentos Itau SA, Preference Shares, NVS
 1,965,035 5,925,630
Russia — 0.1%
Surgutneftegas OJSC, Preference Shares, NVS
 407,024 199,047
South Korea — 1.9%
Samsung Electronics Co. Ltd., Preference Shares, NVS
 143,055 5,374,764
Total Preferred Stocks — 4.2%

(Cost: $11,778,440)
 11,499,441
 
 
  
38

iShares® Edge MSCI Multifactor Emerging Markets ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Rights
United Arab Emirates — 0.0%
Dubai Islamic Bank PJSC, NVS (Expires 06/06/18)(a)
    165,194 $      88,148
Total Rights — 0.0%

(Cost: $0)
 88,148
Short-Term Investments
Money Market Funds — 1.7%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
  1,177,220    1,177,455
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
  3,304,922   3,304,922
    4,482,377
Total Short-Term Investments — 1.7%

(Cost: $4,482,321)
 4,482,377
Total Investments in Securities — 101.3%

(Cost: $263,927,656)
 275,980,890
Other Assets, Less Liabilities — (1.3)%
 (3,426,230)
Net Assets — 100.0%
 $ 272,554,660
(a) Non-income producing security.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) All or a portion of this security is on loan.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Shares
Purchased 		Shares
Sold 		Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 2,360,187 — (1,182,967) (a) 1,177,220 $ 1,177,455   $ 8,863(b)   $ (293)   $ 56
BlackRock Cash Funds: Treasury, SL Agency Shares
 184,901 3,120,021 (a) — 3,304,922 3,304,922   2,962   —   —
iShares MSCI India ETF
 181,962 239,634 (180,666) 240,930 8,107,295   36,667   521,869   (780,822)
          $12,589,672   $48,492   $ 521,576   $ (780,766)
    
(a) Net of purchases and sales.
(b) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
    
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI Emerging Markets E-Mini
 27 06/15/18 $ 1,514 $ (38,893)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
39
  

iShares® Edge MSCI Multifactor Emerging Markets ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $250,530,197   $  1,273,432   $         —   $251,803,629
Investment Companies
   8,107,295            —            —      8,107,295
Preferred Stocks
  11,499,441            —            —     11,499,441
Rights
          —        88,148            —         88,148
Money Market Funds
   4,482,377            —            —     4,482,377
  $274,619,310   $  1,361,580   $         —   $275,980,890
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $ (38,893)   $ —   $ —   $ (38,893)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
  
40

iShares® MSCI Australia ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Banks — 28.7%
Australia & New Zealand Banking Group Ltd.
  4,297,093 $    88,470,470
Bank of Queensland Ltd.
    576,946      4,422,213
Bendigo & Adelaide Bank Ltd.
    713,219      5,806,711
Commonwealth Bank of Australia
  2,576,774    135,115,324
National Australia Bank Ltd.
  3,997,247     81,057,055
Westpac Banking Corp.
  5,004,714   105,462,850
    420,334,623
Beverages — 1.3%
Coca-Cola Amatil Ltd.
 746,211 5,013,831
Treasury Wine Estates Ltd.
 1,066,976 13,385,488
    18,399,319
Biotechnology — 6.4%
CSL Ltd.
 664,852 93,493,751
Capital Markets — 3.7%
ASX Ltd.
 284,289 13,041,954
Macquarie Group Ltd.
 474,884 41,081,168
    54,123,122
Chemicals — 0.9%
Incitec Pivot Ltd.
 2,455,481 6,391,313
Orica Ltd.
 554,111 7,408,467
    13,799,780
Commercial Services & Supplies — 1.1%
Brambles Ltd.
 2,338,307 15,976,598
Construction & Engineering — 0.3%
CIMIC Group Ltd.
 141,285 4,406,554
Construction Materials — 1.3%
Boral Ltd.
 1,722,509 8,171,919
James Hardie Industries PLC
 650,658 10,914,743
    19,086,662
Containers & Packaging — 1.2%
Amcor Ltd./Australia
 1,702,987 18,117,226
Diversified Financial Services — 1.4%
AMP Ltd.
 4,286,277 12,648,525
Challenger Ltd./Australia
 810,279 7,902,828
    20,551,353
Diversified Telecommunication Services — 1.0%
Telstra Corp. Ltd.
 6,119,269 12,964,406
TPG Telecom Ltd.(a)
 544,635 2,295,386
    15,259,792
Electric Utilities — 0.2%
AusNet Services
 2,610,528 3,209,791
Equity Real Estate Investment Trusts (REITs) — 6.4%
BGP Holdings PLC(b)(c)
 18,888,372 220
Dexus
 1,501,474 11,235,933
Goodman Group
 2,388,760 16,881,632
GPT Group (The)
 2,652,830 10,096,537
Mirvac Group
 5,458,023 9,498,570
Scentre Group
 7,841,154 24,799,979
Stockland
 3,573,943 11,222,530
Vicinity Centres
 4,784,196 9,665,298
    93,400,699
Food & Staples Retailing — 6.8%
Wesfarmers Ltd.
 1,667,307 57,477,031
 Security   Shares Value
Food & Staples Retailing (continued)
Woolworths Group Ltd.
  1,919,092 $    41,326,225
    98,803,256
Gas Utilities — 0.8%
APA Group
  1,734,443    11,404,463
Health Care Equipment & Supplies — 0.9%
Cochlear Ltd.
     84,822    12,589,018
Health Care Providers & Services — 1.7%
Healthscope Ltd.
  2,552,780      4,539,168
Ramsay Health Care Ltd.
 207,875 9,646,511
Sonic Healthcare Ltd.
 592,050 10,554,283
    24,739,962
Hotels, Restaurants & Leisure — 2.8%
Aristocrat Leisure Ltd.
 844,156 19,187,469
Crown Resorts Ltd.
 549,881 5,533,697
Domino's Pizza Enterprises Ltd.(a)
 89,384 3,329,543
Flight Centre Travel Group Ltd.
 81,957 3,821,227
Tabcorp Holdings Ltd.
 2,805,632 9,276,992
    41,148,928
Insurance — 4.4%
Insurance Australia Group Ltd.
 3,483,404 21,428,385
Medibank Pvt Ltd.
 4,044,145 8,965,807
QBE Insurance Group Ltd.
 2,004,195 14,376,175
Suncorp Group Ltd.
 1,904,067 19,348,766
    64,119,133
Internet Software & Services — 0.3%
REA Group Ltd.
 77,408 5,025,957
IT Services — 0.6%
Computershare Ltd.
 678,797 8,906,028
Metals & Mining — 15.1%
Alumina Ltd.
 3,556,637 7,212,227
BHP Billiton Ltd.
 4,722,225 117,161,017
BlueScope Steel Ltd.
 820,821 10,794,270
Fortescue Metals Group Ltd.
 2,290,438 8,128,051
Newcrest Mining Ltd.
 1,127,148 17,705,302
Rio Tinto Ltd.
 606,662 38,085,786
South32 Ltd.
 7,620,067 21,448,492
    220,535,145
Multi-Utilities — 1.1%
AGL Energy Ltd.
 963,686 16,114,724
Multiline Retail — 0.2%
Harvey Norman Holdings Ltd.
 824,188 2,245,039
Oil, Gas & Consumable Fuels — 5.7%
Caltex Australia Ltd.
 383,385 8,534,397
Oil Search Ltd.
 2,020,376 12,642,494
Origin Energy Ltd.(c)
 2,581,559 18,752,032
Santos Ltd.(c)
 2,608,846 11,567,542
Woodside Petroleum Ltd.
 1,324,458 32,479,719
    83,976,184
Professional Services — 0.5%
Seek Ltd.
 482,423 7,373,512
Real Estate Management & Development — 0.8%
LendLease Group
 859,195 12,209,064
 
 
41
  

iShares® MSCI Australia ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Road & Rail — 0.7%
Aurizon Holdings Ltd.
  2,924,745 $     9,538,066
Transportation Infrastructure — 2.6%
Sydney Airport
  1,604,136      8,836,242
Transurban Group
  3,274,788    29,412,298
    38,248,540
Total Common Stocks — 98.9%

(Cost: $1,653,761,149)
 1,447,136,289
Short-Term Investments
Money Market Funds — 0.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 5,489,169 5,490,267
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
 56,441 56,441
    5,546,708
Total Short-Term Investments — 0.4%

(Cost: $5,545,702)
 5,546,708
Total Investments in Securities — 99.3%

(Cost: $1,659,306,851)
 1,452,682,997
Other Assets, Less Liabilities — 0.7%
 10,665,089
Net Assets — 100.0%
 $ 1,463,348,086
(a) All or a portion of this security is on loan.
(b) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(c) Non-income producing security.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 6,985,447 (1,496,278) 5,489,169 $5,490,267   $55,045 (a)   $ (1,701)   $ 687
BlackRock Cash Funds: Treasury, SL Agency Shares
 183,299 (126,858) 56,441 56,441   11,458   —   —
        $5,546,708   $66,503   $ (1,701)   $ 687
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
ASX SPI 200 Index
 136 06/21/18 $ 15,477 $ (114,935)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
  
42

iShares® MSCI Australia ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $1,447,136,069   $           —   $          220   $1,447,136,289
Money Market Funds
     5,546,708              —              —       5,546,708
  $1,452,682,777   $           —   $          220   $1,452,682,997
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $      (114,935)   $           —   $            —   $      (114,935)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
43
  

iShares® MSCI Austria ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 1.1%
FACC AG(a)
   138,935 $   2,701,899
Air Freight & Logistics — 3.0%
Oesterreichische Post AG
   161,537   7,504,772
Auto Components — 0.7%
POLYTEC Holding AG
   117,446   1,812,392
Banks — 27.7%
BAWAG Group AG(b)
   152,010    7,204,114
Erste Group Bank AG
 1,209,730 50,384,352
Raiffeisen Bank International AG(a)
 332,156 10,503,487
    68,091,953
Chemicals — 2.9%
Lenzing AG
 63,860 7,122,656
Construction & Engineering — 1.2%
Porr AG(c)
 76,885 2,836,032
Construction Materials — 4.5%
Wienerberger AG
 416,292 11,089,095
Diversified Telecommunication Services — 2.9%
Telekom Austria AG
 802,571 7,101,254
Electric Utilities — 1.6%
EVN AG
 201,508 3,979,926
Electrical Equipment — 0.7%
Zumtobel Group AG
 216,643 1,790,442
Electronic Equipment, Instruments & Components — 2.1%
AT&S Austria Technologie & Systemtechnik AG
 155,013 3,213,612
Kapsch TrafficCom AG
 44,423 1,918,634
    5,132,246
Energy Equipment & Services — 2.8%
Schoeller-Bleckmann Oilfield Equipment AG(c)
 54,585 6,887,814
Food Products — 0.4%
Agrana Beteiligungs AG
 8,133 911,390
Hotels, Restaurants & Leisure — 1.1%
DO & CO AG(c)
 45,348 2,667,909
Insurance — 5.1%
UNIQA Insurance Group AG
 596,187 7,035,842
Vienna Insurance Group AG Wiener Versicherung Gruppe
 193,240 5,544,486
    12,580,328
 Security   Shares Value
Machinery — 5.2%
ANDRITZ AG
   218,847 $  10,908,144
Semperit AG Holding(a)(c)
    90,585   1,880,054
    12,788,198
Metals & Mining — 9.9%
Voestalpine AG
   452,464  24,274,284
Oil, Gas & Consumable Fuels — 13.7%
OMV AG
   587,153  33,720,870
Real Estate Management & Development — 11.8%
BUWOG AG
 119,856 4,062,925
CA Immobilien Anlagen AG
 294,286 10,319,340
IMMOFINANZ AG
 4,108,163 9,888,233
S IMMO AG
 247,973 4,891,854
    29,162,352
Total Common Stocks — 98.4%

(Cost: $230,550,255)
 242,155,812
Short-Term Investments
Money Market Funds — 2.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 5,885,989 5,887,167
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
 94,424 94,424
    5,981,591
Total Short-Term Investments — 2.4%

(Cost: $5,980,683)
 5,981,591
Total Investments in Securities — 100.8%

(Cost: $236,530,938)
 248,137,403
Other Assets, Less Liabilities — (0.8)%
 (2,069,168)
Net Assets — 100.0%
 $ 246,068,235
    
(a) Non-income producing security.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) All or a portion of this security is on loan.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
  
44

iShares® MSCI Austria ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 6,611,731 (725,742) 5,885,989 $5,887,167   $144,778 (a)   $ (1,478)   $ 386
BlackRock Cash Funds: Treasury, SL Agency Shares
 135,114 (40,690) 94,424 94,424   984   —   —
        $5,981,591   $145,762   $ (1,478)   $ 386
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $242,155,812   $         —   $         —   $242,155,812
Money Market Funds
   5,981,591            —            —     5,981,591
  $248,137,403   $         —   $         —   $248,137,403
45
  

iShares® MSCI Belgium ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Air Freight & Logistics — 1.2%
bpost SA
    42,835 $    757,519
Banks — 9.9%
KBC Group NV
    85,002  6,568,550
Beverages — 22.3%
Anheuser-Busch InBev SA/NV
   157,344 14,733,816
Biotechnology — 2.7%
Galapagos NV(a)(b)
    17,322  1,757,519
Capital Markets — 1.0%
Gimv NV
 11,412 678,050
Chemicals — 13.1%
Recticel SA
 16,025 187,060
Solvay SA
 26,399 3,543,788
Tessenderlo Group SA(a)
 16,209 635,737
Umicore SA
 76,228 4,306,677
    8,673,262
Communications Equipment — 0.5%
EVS Broadcast Equipment SA
 13,002 311,892
Construction & Engineering — 0.9%
Cie. d'Entreprises CFE
 4,780 601,491
Distributors — 1.0%
D'ieteren SA/NV
 15,558 672,678
Diversified Financial Services — 9.9%
Ackermans & van Haaren NV
 9,635 1,642,052
Groupe Bruxelles Lambert SA
 27,990 2,964,069
KBC Ancora
 16,640 931,569
Sofina SA
 5,994 1,008,938
    6,546,628
Diversified Telecommunication Services — 2.4%
Proximus SADP
 58,230 1,557,235
Electric Utilities — 1.5%
Elia System Operator SA/NV
 15,559 984,381
Electronic Equipment, Instruments & Components — 1.1%
Barco NV
 5,627 696,250
Equity Real Estate Investment Trusts (REITs) — 6.7%
Aedifica SA
 9,140 865,266
Befimmo SA
 11,649 726,126
Cofinimmo SA
 9,405 1,164,814
Intervest Offices & Warehouses NV
 15,619 387,431
Retail Estates NV
 2,699 244,797
Warehouses De Pauw CVA
 8,548 1,061,668
    4,450,102
Food & Staples Retailing — 2.1%
Colruyt SA
 25,960 1,377,882
Food Products — 0.4%
Greenyard NV
 13,435 240,259
Health Care Equipment & Supplies — 1.2%
Biocartis NV(a)(b)(c)
 29,293 430,841
Ion Beam Applications(a)(b)
 14,092 370,445
    801,286
 Security   Shares Value
Health Care Providers & Services — 0.8%
Fagron
    32,538 $    534,781
Health Care Technology — 0.6%
AGFA-Gevaert NV(a)
   119,149    426,427
Insurance — 4.3%
Ageas
    56,189  2,846,580
IT Services — 0.7%
Econocom Group SA/NV
    79,267    489,475
Media — 2.7%
Kinepolis Group NV
 9,506 622,505
Telenet Group Holding NV(a)
 22,373 1,129,778
    1,752,283
Metals & Mining — 1.7%
Bekaert SA
 18,998 709,644
Nyrstar NV(a)(b)
 70,502 407,699
    1,117,343
Oil, Gas & Consumable Fuels — 1.5%
Euronav NV
 71,060 653,633
Exmar NV(a)(b)
 45,978 359,589
    1,013,222
Personal Products — 1.4%
Ontex Group NV
 35,126 955,360
Pharmaceuticals — 4.9%
Mithra Pharmaceuticals SA(a)
 5,100 183,955
UCB SA
 38,723 3,051,091
    3,235,046
Semiconductors & Semiconductor Equipment — 1.5%
Melexis NV
 9,732 974,134
Textiles, Apparel & Luxury Goods — 0.6%
Sioen Industries NV
 7,427 252,284
Van de Velde NV
 3,526 135,207
    387,491
Wireless Telecommunication Services — 0.8%
Orange Belgium SA
 26,474 521,644
Total Common Stocks — 99.4%

(Cost: $71,200,241)
 65,662,586
Short-Term Investments
Money Market Funds — 4.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 2,646,428 2,646,958
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
 7,287 7,287
    2,654,245
Total Short-Term Investments — 4.0%

(Cost: $2,653,824)
 2,654,245
Total Investments in Securities — 103.4%

(Cost: $73,854,065)
 68,316,831
Other Assets, Less Liabilities — (3.4)%
 (2,221,409)
Net Assets — 100.0%
 $ 66,095,422
    
(a) Non-income producing security.
 
 
  
46

iShares® MSCI Belgium ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
(b) All or a portion of this security is on loan.
(c) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 3,505,275 (858,847) 2,646,428 $2,646,958   $49,830 (a)   $ 197   $ 93
BlackRock Cash Funds: Treasury, SL Agency Shares
 25,070 (17,783) 7,287 7,287   352   —   —
        $2,654,245   $50,182   $ 197   $ 93
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $65,662,586   $        —   $        —   $65,662,586
Money Market Funds
  2,654,245           —           —    2,654,245
  $68,316,831   $        —   $        —   $68,316,831
47
  

iShares® MSCI Brazil ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 1.4%
Embraer SA
 16,840,287 $   101,700,583
Banks — 5.1%
Banco Bradesco SA
 16,089,824    112,679,102
Banco do Brasil SA
 20,153,387    164,352,886
Banco Santander Brasil SA, NVS
 10,382,975    94,181,575
    371,213,563
Beverages — 4.5%
Ambev SA
 61,910,655 327,337,387
Capital Markets — 3.9%
B3 SA - Brasil, Bolsa, Balcao
 49,075,077 286,882,407
Containers & Packaging — 1.3%
Klabin SA, NVS
 17,409,600 98,126,369
Diversified Consumer Services — 1.4%
Kroton Educacional SA
 34,203,019 99,282,941
Electric Utilities — 2.0%
Centrais Eletricas Brasileiras SA(a)
 7,708,500 30,282,986
EDP - Energias do Brasil SA
 10,296,745 36,552,401
Equatorial Energia SA
 5,050,900 82,449,004
    149,284,391
Food & Staples Retailing — 2.0%
Atacadao Distribuicao Comercio e Industria Ltda
 12,100,300 51,825,240
Raia Drogasil SA
 5,746,500 96,087,473
    147,912,713
Food Products — 2.4%
BRF SA(a)
 13,482,250 77,547,239
JBS SA
 25,414,307 60,941,652
M. Dias Branco SA
 3,259,300 36,758,529
    175,247,420
Health Care Providers & Services — 0.3%
Odontoprev SA
 5,112,465 19,164,622
Independent Power and Renewable Electricity Producers — 0.7%
Engie Brasil Energia SA
 4,856,175 48,235,097
Insurance — 3.3%
BB Seguridade Participacoes SA
 17,004,795 118,995,437
IRB Brasil Resseguros S/A
 3,310,200 42,861,359
Porto Seguro SA
 3,615,620 41,272,273
Sul America SA, NVS
 6,883,449 36,191,225
    239,320,294
IT Services — 1.8%
Cielo SA
 29,159,596 132,719,795
Machinery — 1.3%
WEG SA
 20,627,781 95,161,257
Metals & Mining — 12.8%
Cia. Siderurgica Nacional SA(a)
 19,081,169 39,453,015
Vale SA
 65,714,032 893,409,444
    932,862,459
Multiline Retail — 2.7%
Lojas Renner SA
 17,133,790 136,507,176
Magazine Luiza SA
 2,056,700 59,877,664
    196,384,840
 Security   Shares Value
Oil, Gas & Consumable Fuels — 6.4%
Cosan SA Industria e Comercio
  4,677,450 $    48,733,250
Petroleo Brasileiro SA
 51,060,869    304,249,589
Ultrapar Participacoes SA
  8,774,855   117,813,335
    470,796,174
Paper & Forest Products — 3.5%
Fibria Celulose SA
  6,279,351    119,346,535
Suzano Papel e Celulose SA
 11,924,330   138,005,296
    257,351,831
Personal Products — 0.7%
Natura Cosmeticos SA
 5,523,065 50,009,466
Pharmaceuticals — 0.9%
Hypera SA
 9,155,100 69,326,088
Real Estate Management & Development — 1.4%
BR Malls Participacoes SA
 22,289,538 61,648,539
Multiplan Empreendimentos Imobiliarios SA
 2,793,546 44,010,511
    105,659,050
Road & Rail — 2.6%
Localiza Rent a Car SA
 12,896,631 85,641,623
Rumo SA(a)
 27,557,390 102,191,849
    187,833,472
Specialty Retail — 0.3%
Petrobras Distribuidora SA
 3,810,400 18,622,006
Transportation Infrastructure — 1.2%
CCR SA
 30,552,765 84,503,022
Water Utilities — 0.9%
Cia. de Saneamento Basico do Estado de Sao Paulo
 9,136,000 64,152,307
Wireless Telecommunication Services — 1.1%
TIM Participacoes SA
 22,125,525 79,672,209
Total Common Stocks — 65.9%

(Cost: $4,126,341,610)
 4,808,761,763
Preferred Stocks
Banks — 20.9%
Banco Bradesco SA, Preference Shares, NVS
 67,690,489 530,210,809
Itau Unibanco Holding SA, Preference Shares, NVS
 66,562,898 768,215,614
Itausa-Investimentos Itau SA, Preference Shares, NVS
 74,233,025 223,852,223
    1,522,278,646
Chemicals — 0.8%
Braskem SA, Class A, Preference Shares, NVS
 4,833,656 58,927,238
Diversified Telecommunication Services — 1.8%
Telefonica Brasil SA, Preference Shares, NVS
 10,813,964 132,123,726
Electric Utilities — 1.2%
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS
 7,388,546 33,232,139
Cia. Energetica de Minas Gerais, Preference Shares, NVS
 24,958,070 51,403,283
    84,635,422
Food & Staples Retailing — 1.2%
Cia. Brasileira de Distribuicao, Preference Shares, NVS
 4,232,564 90,355,618
Metals & Mining — 1.4%
Gerdau SA, Preference Shares, NVS
 25,725,126 102,235,970
 
 
  
48

iShares® MSCI Brazil ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Multiline Retail — 1.2%
Lojas Americanas SA, Preference Shares, NVS
 19,155,917 $    91,406,035
Oil, Gas & Consumable Fuels — 5.0%
Petroleo Brasileiro SA, Preference Shares, NVS
 70,938,683   361,546,221
Total Preferred Stocks — 33.5%

(Cost: $1,930,377,451)
 2,443,508,876
Short-Term Investments
Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(b)(c)
  4,344,774     4,344,774
Total Short-Term Investments — 0.1%

(Cost: $4,344,774)
 4,344,774
Total Investments in Securities — 99.5%

(Cost: $6,061,063,835)
 7,256,615,413
Other Assets, Less Liabilities — 0.5%
 37,546,493
Net Assets — 100.0%
 $ 7,294,161,906
(a) Non-income producing security.
(b) Affiliate of the Fund.
(c) Annualized 7-day yield as of period-end.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares
 16,859 4,327,915 4,344,774 $4,344,774   $52,524   $ —   $ —
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI Emerging Markets E-Mini
 617 06/15/18 $ 34,604 $ (1,922,515)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
49
  

iShares® MSCI Brazil ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $4,808,761,763   $           —   $           —   $4,808,761,763
Preferred Stocks
 2,443,508,876              —              —   2,443,508,876
Money Market Funds
     4,344,774              —              —       4,344,774
  $7,256,615,413   $           —   $           —   $7,256,615,413
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $    (1,922,515)   $           —   $           —   $    (1,922,515)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
  
50

iShares® MSCI BRIC ETF
Consolidated Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Brazil — 7.7%
Ambev SA
     501,665 $   2,652,431
Atacadao Distribuicao Comercio e Industria Ltda
      39,600      169,606
B3 SA - Brasil, Bolsa, Balcao
     224,469    1,312,198
Banco Bradesco SA
     105,639      739,803
Banco do Brasil SA
      92,489      754,257
Banco Santander Brasil SA, NVS
      39,600      359,203
BB Seguridade Participacoes SA
      79,200      554,222
BR Malls Participacoes SA
 81,918 226,569
BRF SA(a)
 52,800 303,695
CCR SA
 132,000 365,086
Centrais Eletricas Brasileiras SA(a)
 26,400 103,713
Cia. de Saneamento Basico do Estado de Sao Paulo
 39,600 278,068
Cia. Siderurgica Nacional SA(a)
 66,000 136,464
Cielo SA
 132,021 600,893
Cosan SA Industria e Comercio
 13,200 137,528
EDP - Energias do Brasil SA
 26,400 93,717
Embraer SA
 66,000 398,582
Engie Brasil Energia SA
 13,200 131,112
Equatorial Energia SA
 13,200 215,472
Fibria Celulose SA
 26,441 502,543
Hypera SA
 39,600 299,867
JBS SA
 92,452 221,693
Klabin SA, NVS
 66,000 371,998
Kroton Educacional SA
 145,264 421,666
Localiza Rent a Car SA
 52,879 351,149
Lojas Renner SA
 79,260 631,475
M. Dias Branco SA
 13,200 148,870
Magazine Luiza SA
 13,200 384,298
Multiplan Empreendimentos Imobiliarios SA
 13,710 215,992
Natura Cosmeticos SA
 13,200 119,522
Odontoprev SA
 26,400 98,963
Petrobras Distribuidora SA
 26,400 129,021
Petroleo Brasileiro SA
 316,800 1,887,674
Porto Seguro SA
 13,200 150,678
Raia Drogasil SA
 26,450 442,272
Rumo SA(a)
 118,800 440,549
Sul America SA, NVS
 26,489 139,272
Suzano Papel e Celulose SA
 39,600 458,308
TIM Participacoes SA
 92,469 332,973
Ultrapar Participacoes SA
 39,600 531,679
Vale SA
 330,029 4,486,881
WEG SA
 86,872 400,763
    22,700,725
China — 64.8%
3SBio Inc.(a)(b)
 132,000 377,785
51job Inc., ADR(a)
 2,772 294,941
58.com Inc., ADR(a)
 9,900 804,078
AAC Technologies Holdings Inc.
 80,000 1,204,464
Agile Group Holdings Ltd.
 264,000 503,489
Agricultural Bank of China Ltd., Class A
 92,400 51,787
Agricultural Bank of China Ltd., Class H
 2,904,000 1,503,062
Air China Ltd., Class H
 264,000 305,930
Alibaba Group Holding Ltd., ADR(a)(c)
 121,440 24,046,334
Alibaba Health Information Technology Ltd.(a)(c)
 342,000 313,479
Alibaba Pictures Group Ltd.(a)
 1,320,000 171,644
Aluminum Corp. of China Ltd., Class H(a)(c)
 528,000 277,996
Angang Steel Co. Ltd., Class A
 21,073 19,937
Anhui Conch Cement Co. Ltd., Class H
 132,000 809,418
 Security Shares Value
China (continued)
ANTA Sports Products Ltd.
     132,040 $     760,848
Anxin Trust Co. Ltd., Class A
      13,200       16,857
Autohome Inc., ADR
       6,204      699,315
AviChina Industry & Technology Co. Ltd., Class H
     264,000      176,356
BAIC Motor Corp. Ltd., Class H(b)
     198,000      192,342
Baidu Inc., ADR(a)
      28,908    7,011,924
Bank of China Ltd., Class H
   8,448,000    4,415,622
Bank of Communications Co. Ltd., Class H
   1,056,200      836,165
BBMG Corp., Class H
 264,000 115,775
Beijing Capital International Airport Co. Ltd., Class H
 264,000 390,406
Beijing Enterprises Holdings Ltd.
 66,000 364,743
Beijing Enterprises Water Group Ltd.(c)
 528,000 318,382
BOC Aviation Ltd.(b)
 13,200 81,952
BOE Technology Group Co. Ltd., Class A
 92,400 59,432
Brilliance China Automotive Holdings Ltd.
 264,000 493,392
BYD Co. Ltd., Class H
 66,000 428,268
BYD Electronic International Co. Ltd.
 66,000 104,837
CGN Power Co. Ltd., Class H(b)
 1,188,000 337,734
China Agri-Industries Holdings Ltd.
 132,000 56,037
China Cinda Asset Management Co. Ltd., Class H
 1,056,000 382,328
China CITIC Bank Corp. Ltd., Class H
 1,056,000 717,539
China Coal Energy Co. Ltd., Class H
 132,000 58,056
China Communications Construction Co. Ltd., Class H
 538,000 577,495
China Communications Services Corp. Ltd., Class H
 264,800 170,476
China Conch Venture Holdings Ltd.
 198,000 686,575
China Construction Bank Corp., Class A
 26,400 29,345
China Construction Bank Corp., Class H
 10,032,370 10,129,379
China Eastern Airlines Corp. Ltd., Class A
 38,631 44,388
China Everbright Bank Co. Ltd., Class H
 405,000 201,877
China Everbright International Ltd.
 264,000 394,444
China Evergrande Group(a)(c)
 264,000 774,080
China First Capital Group Ltd.(a)
 264,000 264,533
China Galaxy Securities Co. Ltd., Class H
 330,000 206,562
China Gas Holdings Ltd.
 184,800 766,844
China Grand Automotive Services Co. Ltd., Class A
 13,200 14,034
China Huarong Asset Management Co. Ltd., Class H(b)
 1,056,000 355,404
China Huishan Dairy Holdings Co. Ltd.(a)(d)
 51,450 —
China International Capital Corp. Ltd., Class H(b)
 105,600 222,666
China International Marine Containers Group Co. Ltd., Class H
 39,600 61,893
China Jinmao Holdings Group Ltd.
 528,000 301,555
China Life Insurance Co. Ltd., Class H
 792,000 2,211,176
China Literature Ltd.(a)(b)
 26,400 246,528
China Lodging Group Ltd., ADR
 14,388 633,216
China Longyuan Power Group Corp. Ltd., Class H
 396,000 365,500
China Medical System Holdings Ltd.
 136,000 327,684
China Mengniu Dairy Co. Ltd.
 264,000 959,186
China Merchants Bank Co. Ltd., Class A
 26,400 118,616
China Merchants Bank Co. Ltd., Class H
 396,456 1,632,494
China Merchants Port Holdings Co. Ltd.
 264,000 602,436
China Minsheng Banking Corp. Ltd., Class H
 594,000 566,425
China Mobile Ltd.
 660,000 5,889,739
China Molybdenum Co. Ltd., Class H
 396,000 250,903
China National Building Material Co. Ltd., Class H
 284,000 325,124
China National Nuclear Power Co. Ltd., Class A
 26,400 25,224
China Oilfield Services Ltd., Class H
 284,000 296,884
China Overseas Land & Investment Ltd.
 528,800 1,769,599
China Pacific Insurance Group Co. Ltd., Class H
 290,400 1,255,019
China Petroleum & Chemical Corp., Class H
 2,640,600 2,581,975
China Power International Development Ltd.
 264,000 73,369
 
 
51
  

iShares® MSCI BRIC ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
China Railway Construction Corp. Ltd., Class H
     210,000 $     237,999
China Railway Group Ltd., Class H
     396,000      319,560
China Reinsurance Group Corp., Class H
     264,000       59,234
China Resources Beer Holdings Co. Ltd.
     158,000      767,425
China Resources Cement Holdings Ltd.
     264,000      310,978
China Resources Gas Group Ltd.
      89,000      338,112
China Resources Land Ltd.
     292,444    1,073,716
China Resources Pharmaceutical Group Ltd.(b)
     198,000      303,911
China Resources Power Holdings Co. Ltd.
 264,200 540,919
China Shenhua Energy Co. Ltd., Class H
 396,000 1,034,911
China Southern Airlines Co. Ltd., Class H
 264,000 261,168
China State Construction Engineering Corp. Ltd., Class A
 66,000 84,800
China State Construction International Holdings Ltd.
 264,000 326,123
China Taiping Insurance Holdings Co. Ltd.
 184,840 663,328
China Telecom Corp. Ltd., Class H
 1,584,000 739,078
China Traditional Chinese Medicine Holdings Co. Ltd.
 264,000 242,321
China Travel International Investment Hong Kong Ltd.
 254,000 112,685
China Unicom Hong Kong Ltd.
 571,900 777,198
China Vanke Co. Ltd., Class H
 132,001 472,024
China Yangtze Power Co. Ltd., Class A
 26,400 70,519
China Zhongwang Holdings Ltd.
 150,800 81,704
Chong Sing Holdings FinTech Group Ltd.(a)
 1,452,000 192,510
Chongqing Changan Automobile Co. Ltd., Class B
 52,800 57,820
Chongqing Rural Commercial Bank Co. Ltd., Class H
 264,000 176,356
CIFI Holdings Group Co. Ltd.
 264,000 204,290
CITIC Ltd.
 660,000 981,062
CITIC Securities Co. Ltd., Class H
 264,000 665,709
CNOOC Ltd.
 1,848,000 3,109,782
COSCO SHIPPING Development Co. Ltd., Class A(a)
 66,000 30,396
COSCO SHIPPING Development Co. Ltd., Class H(a)
 132,000 25,073
COSCO SHIPPING Holdings Co. Ltd., Class A(a)
 26,200 25,032
COSCO SHIPPING Holdings Co. Ltd., Class H(a)
 245,000 137,740
COSCO SHIPPING Ports Ltd.
 264,000 254,100
Country Garden Holdings Co. Ltd.
 792,046 1,552,962
CRRC Corp. Ltd., Class H
 471,400 421,271
CSPC Pharmaceutical Group Ltd.
 528,000 1,652,493
Ctrip.com International Ltd., ADR(a)
 41,580 1,874,842
Dali Foods Group Co. Ltd.(b)
 198,000 152,713
Datang International Power Generation Co. Ltd., Class H(a)
 264,000 85,149
Dongfeng Motor Group Co. Ltd., Class H
 264,000 301,218
ENN Energy Holdings Ltd.
 74,000 761,778
Everbright Securities Co. Ltd., Class A
 13,200 24,564
Fang Holdings Ltd., ADR(a)
 21,516 109,086
Far East Horizon Ltd.
 264,000 280,352
Focus Media Information Technology Co. Ltd., Class A
 13,200 25,739
Fosun International Ltd.
 264,000 580,223
Founder Securities Co. Ltd., Class A(a)
 13,200 12,097
Fullshare Holdings Ltd.(c)
 745,000 351,408
Future Land Development Holdings Ltd.
 264,000 206,982
Fuyao Glass Industry Group Co. Ltd., Class H(b)
 52,800 195,539
GCL-Poly Energy Holdings Ltd.(a)
 1,452,000 159,191
GDS Holdings Ltd., ADR(a)
 6,336 239,564
Geely Automobile Holdings Ltd.
 528,000 1,497,677
GF Securities Co. Ltd., Class H
 158,400 267,361
GOME Retail Holdings Ltd.(a)(c)
 1,452,400 162,938
Great Wall Motor Co. Ltd., Class H
 330,000 321,832
Greentown China Holdings Ltd.
 57,500 86,498
Guangdong Investment Ltd.
 264,000 444,928
 Security Shares Value
China (continued)
Guangzhou Automobile Group Co. Ltd., Class H
     264,454 $     448,390
Guangzhou R&F Properties Co. Ltd., Class H
     105,600      247,706
Guotai Junan Securities Co. Ltd., Class A(a)
      26,400       69,200
Guotai Junan Securities Co. Ltd., Class H(a)(b)
      26,400       61,388
Haier Electronics Group Co. Ltd.
     152,000      546,445
Haitong Securities Co. Ltd., Class H
     369,600      462,698
Hanergy Thin Film Power Group Ltd.(a)(d)
       7,709           —
Hangzhou Hikvision Digital Technology Co. Ltd., Class A
      13,200       80,678
Hengan International Group Co. Ltd.(c)
 66,000 628,519
HengTen Networks Group Ltd.(a)
 2,008,000 80,636
Huadian Power International Corp. Ltd., Class A
 39,600 25,780
Huaneng Power International Inc., Class H
 528,000 407,907
Huaneng Renewables Corp. Ltd., Class H
 528,000 226,839
Huatai Securities Co. Ltd., Class H(b)
 184,800 364,221
Huayu Automotive Systems Co. Ltd., Class A
 13,199 52,586
Hubei Biocause Pharmaceutical Co. Ltd., Class A
 13,200 15,806
Hubei Energy Group Co. Ltd., Class A
 26,400 17,805
Industrial & Commercial Bank of China Ltd., Class H
 7,392,050 6,125,370
Inner Mongolia Yili Industrial Group Co. Ltd., Class A
 13,200 63,945
Inner Mongolia Yitai Coal Co. Ltd., Class B
 50,000 66,850
JD.com Inc., ADR(a)(c)
 75,372 2,651,587
Jiangxi Copper Co. Ltd., Class H
 132,000 191,837
Kaisa Group Holdings Ltd.(a)
 230,000 124,908
Kangmei Pharmaceutical Co. Ltd., Class A
 13,200 55,146
Kingboard Chemical Holdings Ltd.
 66,000 262,514
Kingboard Laminates Holdings Ltd.
 132,000 175,009
Kingdee International Software Group Co. Ltd.
 264,000 289,775
Kingsoft Corp. Ltd.
 132,000 416,489
Kunlun Energy Co. Ltd.
 264,000 240,301
KWG Property Holdings Ltd.
 132,000 182,077
Lee & Man Paper Manufacturing Ltd.
 132,000 154,816
Legend Holdings Corp., Class H(b)
 26,400 84,139
Lenovo Group Ltd.
 792,000 420,023
Logan Property Holdings Co. Ltd.
 264,000 397,137
Longfor Properties Co. Ltd.
 132,000 395,454
Luxshare Precision Industry Co. Ltd., Class A
 13,200 47,892
Luye Pharma Group Ltd.
 132,000 144,888
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A
 13,199 61,364
Meitu Inc.(a)(b)
 198,000 209,759
Metallurgical Corp. of China Ltd., Class A
 26,400 15,167
Midea Group Co. Ltd., Class A
 13,200 109,034
Momo Inc., ADR(a)
 12,144 557,652
NetEase Inc., ADR
 8,316 1,898,709
New China Life Insurance Co. Ltd., Class H
 92,400 419,349
New Hope Liuhe Co. Ltd., Class A
 13,200 14,693
New Oriental Education & Technology Group Inc., ADR
 15,048 1,496,825
Nexteer Automotive Group Ltd.
 132,000 217,752
Nine Dragons Paper Holdings Ltd.
 132,000 210,011
Ningbo Zhoushan Port Co. Ltd., Class A
 26,400 21,184
Noah Holdings Ltd., ADR(a)
 3,036 181,796
People's Insurance Co. Group of China Ltd. (The), Class H
 792,000 374,587
PetroChina Co. Ltd., Class H
 2,376,000 1,965,827
PICC Property & Casualty Co. Ltd., Class H
 529,548 932,970
Ping An Insurance Group Co. of China Ltd., Class A
 26,400 256,068
Ping An Insurance Group Co. of China Ltd., Class H
 528,000 5,176,240
Postal Savings Bank of China Co. Ltd., Class H(b)
 264,000 176,692
Qingdao Haier Co. Ltd., Class A
 13,200 41,421
Sanan Optoelectronics Co. Ltd., Class A
 10,530 34,095
 
 
  
52

iShares® MSCI BRIC ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
SDIC Capital Co. Ltd., Class A
      13,200 $      23,286
SDIC Power Holdings Co. Ltd., Class A
      26,400       31,076
Semiconductor Manufacturing International Corp.(a)(c)
     264,200      345,569
Shandong Weigao Group Medical Polymer Co. Ltd., Class H
     184,000      158,335
Shanghai 2345 Network Holding Group Co. Ltd., Class A
      13,200       12,241
Shanghai Electric Group Co. Ltd., Class A, NVS
      13,200       12,612
Shanghai Electric Group Co. Ltd., Class H(a)
     268,000      102,497
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H
      69,500      445,220
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B
 105,680 157,463
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
 105,600 326,460
Shanghai Pudong Development Bank Co. Ltd., Class A
 39,600 65,223
Shenergy Co. Ltd., Class A
 26,400 22,174
Shenwan Hongyuan Group Co. Ltd., Class A
 26,400 19,124
Shenzhen Energy Group Co. Ltd., Class A
 26,400 23,740
Shenzhen International Holdings Ltd.
 66,000 144,383
Shenzhou International Group Holdings Ltd.
 55,000 643,664
Shimao Property Holdings Ltd.
 132,000 390,406
Shui On Land Ltd.
 330,000 92,553
Sichuan Chuantou Energy Co. Ltd., Class A
 26,400 38,701
Sihuan Pharmaceutical Holdings Group Ltd.
 396,000 102,481
SINA Corp./China(a)
 6,600 599,412
Sino Biopharmaceutical Ltd.
 396,000 1,001,592
Sino-Ocean Group Holding Ltd.
 330,000 222,969
Sinopec Engineering Group Co. Ltd., Class H
 132,000 141,859
Sinopec Shanghai Petrochemical Co. Ltd., Class H
 265,000 195,604
Sinopharm Group Co. Ltd., Class H
 105,600 469,160
Sinotrans Ltd., Class H
 132,000 74,884
Sinotruk Hong Kong Ltd.
 66,000 93,394
SOHO China Ltd.
 264,000 137,988
SSY Group Ltd.
 264,000 282,371
Sun Art Retail Group Ltd.
 264,000 310,978
Sunac China Holdings Ltd.
 264,000 1,004,621
Suning.com Co. Ltd., Class A
 13,200 33,528
Sunny Optical Technology Group Co. Ltd.
 79,200 1,611,433
TAL Education Group, Class A, ADR(a)
 35,244 1,496,460
Tencent Holdings Ltd.
 594,000 30,229,509
Tingyi Cayman Islands Holding Corp.(c)
 264,000 590,993
Tongwei Co. Ltd., Class A
 13,195 23,236
Towngas China Co. Ltd.
 132,000 129,574
TravelSky Technology Ltd., Class H
 132,000 386,199
Tsingtao Brewery Co. Ltd., Class H
 40,000 253,437
Uni-President China Holdings Ltd.
 132,000 142,195
Vipshop Holdings Ltd., ADR(a)
 45,672 533,449
Want Want China Holdings Ltd.(c)
 528,000 523,682
Wanxiang Qianchao Co. Ltd., Class A
 13,200 16,610
Weibo Corp., ADR(a)
 5,016 511,181
Weichai Power Co. Ltd., Class H
 265,100 355,533
Wuliangye Yibin Co. Ltd., Class A
 13,200 162,758
Wuxi Biologics Cayman Inc.(a)(b)
 62,500 700,761
Xinjiang Goldwind Science & Technology Co. Ltd., Class A
 13,200 33,260
Xinjiang Goldwind Science & Technology Co. Ltd., Class H
 52,800 84,543
Xinyi Solar Holdings Ltd.
 264,000 109,381
Yanzhou Coal Mining Co. Ltd., Class H
 264,000 380,982
Yonghui Superstores Co. Ltd., Class A
 13,200 19,845
Youngor Group Co. Ltd., Class A
 13,199 17,350
 Security Shares Value
China (continued)
Yuexiu Property Co. Ltd.
     528,000 $     119,141
Yum China Holdings Inc.
      38,808    1,525,154
Yuzhou Properties Co. Ltd.
     132,000       92,890
YY Inc., ADR(a)
       4,884      569,133
Zhaojin Mining Industry Co. Ltd., Class H
      66,000       55,111
Zhejiang Longsheng Group Co. Ltd., Class A
      13,200       26,893
Zhejiang Zheneng Electric Power Co. Ltd., Class A
      26,400       21,514
ZhongAn Online P&C Insurance Co. Ltd., Class H(a)(b)
      13,200       87,841
Zhongjin Gold Corp. Ltd., Class A
 13,200 17,846
Zhongsheng Group Holdings Ltd.
 66,000 211,610
Zhuzhou CRRC Times Electric Co. Ltd., Class H
 66,000 332,350
Zijin Mining Group Co. Ltd., Class A
 39,600 23,183
Zijin Mining Group Co. Ltd., Class H
 559,000 233,031
ZTE Corp., Class H(a)(d)
 87,048 210,847
    190,643,728
India — 16.3%
Adani Ports & Special Economic Zone Ltd.
 56,365 327,545
Ambuja Cements Ltd.
 62,436 190,040
Ashok Leyland Ltd.
 128,590 282,114
Asian Paints Ltd.
 31,152 602,267
Aurobindo Pharma Ltd.
 28,248 232,866
Avenue Supermarts Ltd.(a)(b)
 12,540 292,146
Axis Bank Ltd.
 188,628 1,525,907
Bajaj Auto Ltd.
 9,372 381,963
Bajaj Finance Ltd.
 18,480 577,794
Bajaj Finserv Ltd.
 4,092 366,390
Bharat Forge Ltd.
 21,893 211,103
Bharat Heavy Electricals Ltd.
 86,196 106,847
Bharat Petroleum Corp. Ltd.
 79,728 477,251
Bharti Airtel Ltd.
 146,256 809,710
Bharti Infratel Ltd.
 34,188 151,302
Bosch Ltd.
 792 215,568
Britannia Industries Ltd.
 2,376 208,577
Cadila Healthcare Ltd.(a)
 21,516 115,196
Cipla Ltd./India
 37,092 288,458
Coal India Ltd.
 72,072 316,398
Container Corp. of India Ltd.
 5,808 118,690
Dabur India Ltd.
 55,044 312,649
Dr. Reddy's Laboratories Ltd.
 12,012 344,718
Eicher Motors Ltd.
 1,452 662,298
GAIL India Ltd.
 73,572 382,565
Glenmark Pharmaceuticals Ltd.
 14,784 117,415
Godrej Consumer Products Ltd.
 26,268 443,421
Grasim Industries Ltd.
 35,904 553,225
Havells India Ltd.
 26,664 215,007
HCL Technologies Ltd.
 58,608 790,632
Hero MotoCorp Ltd.
 5,544 291,230
Hindalco Industries Ltd.
 121,308 421,003
Hindustan Petroleum Corp. Ltd.
 64,152 296,459
Hindustan Unilever Ltd.
 68,112 1,626,482
Housing Development Finance Corp. Ltd.
 165,924 4,506,927
ICICI Bank Ltd.
 248,952 1,054,355
Idea Cellular Ltd.(a)
 206,580 188,266
IDFC Bank Ltd.
 4,067 2,453
Indiabulls Housing Finance Ltd.
 29,304 539,637
Indian Oil Corp. Ltd.
 140,429 362,297
Infosys Ltd.
 183,348 3,346,765
InterGlobe Aviation Ltd.(b)
 8,313 150,196
ITC Ltd.
 360,492 1,451,156
JSW Steel Ltd.
 90,948 447,311
 
 
53
  

iShares® MSCI BRIC ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
India (continued)
Larsen & Toubro Ltd.
      50,688 $   1,029,346
LIC Housing Finance Ltd.
      30,888      217,485
Lupin Ltd.
      22,836      260,686
Mahindra & Mahindra Financial Services Ltd.
      32,297      233,388
Mahindra & Mahindra Ltd.
      79,596    1,088,625
Marico Ltd.
      55,440      264,415
Maruti Suzuki India Ltd.
      11,220    1,419,440
Motherson Sumi Systems Ltd.
      67,514      310,295
Nestle India Ltd.
 2,640 377,677
NTPC Ltd.
 183,348 455,228
Oil & Natural Gas Corp. Ltd.
 141,504 373,038
Petronet LNG Ltd.
 51,480 167,563
Pidilite Industries Ltd.
 9,504 163,032
Piramal Enterprises Ltd.
 8,670 304,679
Power Grid Corp. of India Ltd.
 150,348 466,645
Reliance Industries Ltd.
 299,508 4,089,233
Rural Electrification Corp. Ltd.
 76,296 133,581
Shree Cement Ltd.
 924 231,137
Shriram Transport Finance Co. Ltd.
 15,972 344,209
Siemens Ltd.
 8,184 126,782
State Bank of India(a)
 179,916 718,651
Sun Pharmaceutical Industries Ltd.
 87,120 620,132
Tata Consultancy Services Ltd.
 99,924 2,578,041
Tata Motors Ltd.(a)
 163,548 684,656
Tata Power Co. Ltd. (The)
 121,044 145,829
Tata Steel Ltd.
 34,716 296,140
Tech Mahindra Ltd.
 50,292 530,886
Titan Co. Ltd.
 33,792 450,727
UltraTech Cement Ltd.
 9,768 542,069
United Spirits Ltd.(a)
 6,204 307,394
UPL Ltd.
 38,148 400,008
Vakrangee Ltd.
 50,352 24,324
Vedanta Ltd.
 132,792 488,604
Wipro Ltd.
 119,856 465,162
Yes Bank Ltd.
 188,760 968,380
Zee Entertainment Enterprises Ltd.
 52,668 433,980
    48,016,066
Russia — 6.5%
Alrosa PJSC
 283,800 402,062
Gazprom PJSC
 930,104 2,163,813
Gazprom PJSC, ADR, NVS
 100,189 455,058
Inter RAO UES PJSC
 3,036,000 198,739
LUKOIL PJSC
 28,248 1,907,598
LUKOIL PJSC, ADR, NVS
 17,573 1,172,822
Magnit PJSC, GDR, NVS(e)
 37,356 751,229
Magnitogorsk Iron & Steel Works PJSC
 250,800 197,534
MMC Norilsk Nickel PJSC
 6,732 1,200,100
Mobile TeleSystems PJSC, ADR, NVS
 52,404 502,030
Moscow Exchange MICEX-RTS PJSC
 150,480 271,831
Novatek PJSC, GDR, NVS(e)
 9,636 1,388,548
Novolipetsk Steel PJSC
 134,970 353,301
PhosAgro PJSC, GDR, NVS(e)
 13,068 173,804
Polyus PJSC
 2,772 166,780
Rosneft Oil Co. PJSC
 97,602 603,362
Rosneft Oil Co. PJSC, GDR, NVS(e)
 28,116 171,508
RusHydro PJSC
 13,068,200 151,780
Sberbank of Russia PJSC
 878,900 3,135,570
Sberbank of Russia PJSC, ADR
 68,207 980,817
Severstal PJSC
 22,440 361,042
 Security Shares Value
Russia (continued)
Surgutneftegas OJSC
     633,610 $     291,047
Surgutneftegas OJSC, ADR, NVS
      11,514       51,237
Tatneft PJSC
     160,152    1,712,588
VTB Bank PJSC
 355,868,001      284,854
VTB Bank PJSC, GDR, NVS(e)
         502          797
X5 Retail Group NV, GDR(e)
       7,396     214,544
    19,264,395
Total Common Stocks — 95.3%

(Cost: $231,732,902)
 280,624,914
Preferred Stocks
Brazil — 4.2%
Banco Bradesco SA, Preference Shares, NVS
 356,402 2,791,650
Braskem SA, Class A, Preference Shares, NVS
 13,200 160,922
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS
 26,482 119,110
Cia. Brasileira de Distribuicao, Preference Shares, NVS
 13,556 289,390
Cia. Energetica de Minas Gerais, Preference Shares, NVS
 92,487 190,485
Gerdau SA, Preference Shares, NVS
 105,600 419,672
Itau Unibanco Holding SA, Preference Shares, NVS
 343,271 3,961,759
Itausa-Investimentos Itau SA, Preference Shares, NVS
 435,677 1,313,799
Lojas Americanas SA, Preference Shares, NVS
 79,304 378,414
Petroleo Brasileiro SA, Preference Shares, NVS
 409,214 2,085,601
Telefonica Brasil SA, Preference Shares, NVS
 52,864 645,886
    12,356,688
Russia — 0.2%
Surgutneftegas OJSC, Preference Shares, NVS
 795,300 388,925
Total Preferred Stocks — 4.4%

(Cost: $10,913,229)
 12,745,613
Short-Term Investments
Money Market Funds — 2.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(f)(g)(h)
 5,916,007 5,917,190
Total Short-Term Investments — 2.0%

(Cost: $5,916,702)
 5,917,190
Total Investments in Securities — 101.7%

(Cost: $248,562,833)
 299,287,717
Other Assets, Less Liabilities — (1.7)%
 (4,885,239)
Net Assets — 100.0%
 $ 294,402,478
    
(a) Non-income producing security.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) All or a portion of this security is on loan.
(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(e) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(f) Affiliate of the Fund.
(g) Annualized 7-day yield as of period-end.
(h) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
  
54

iShares® MSCI BRIC ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 25,497,132 (19,581,125) 5,916,007 $5,917,190   $78,946 (a)   $ (3,988)   $ (1,649)
BlackRock Cash Funds: Treasury, SL Agency Shares
 159,468 (159,468) — —   3,595   —   —
        $5,917,190   $82,541   $ (3,988)   $ (1,649)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Consolidated Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $280,414,067   $         —   $    210,847   $280,624,914
Preferred Stocks
  12,745,613            —            —     12,745,613
Money Market Funds
   5,917,190            —            —     5,917,190
  $299,076,870   $         —   $    210,847   $299,287,717
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
GDR
 Global Depositary Receipt
NVS
 Non-Voting Shares
55
  

iShares® MSCI Canada ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 1.0%
Bombardier Inc., Class B(a)
 4,521,055 $    17,007,977
CAE Inc.
   580,530    12,221,920
    29,229,897
Auto Components — 1.7%
Linamar Corp.
    99,203      4,964,739
Magna International Inc.
   738,124    47,307,762
    52,272,501
Banks — 28.2%
Bank of Montreal
 1,391,746 107,760,537
Bank of Nova Scotia (The)
 2,583,664 155,832,463
Canadian Imperial Bank of Commerce
 945,469 82,506,237
National Bank of Canada
 736,176 35,197,067
Royal Bank of Canada
 3,113,355 235,205,666
Toronto-Dominion Bank (The)
 3,970,924 231,729,068
    848,231,038
Capital Markets — 3.8%
Brookfield Asset Management Inc., Class A
 1,812,441 72,248,939
CI Financial Corp.
 592,132 11,475,639
IGM Financial Inc.
 180,384 5,328,643
Thomson Reuters Corp.
 612,797 23,813,673
    112,866,894
Chemicals — 2.7%
Methanex Corp.
 145,371 9,926,737
Nutrien Ltd.
 1,389,504 70,278,567
    80,205,304
Construction & Engineering — 0.9%
SNC-Lavalin Group Inc.
 378,952 16,522,915
WSP Global Inc.
 219,579 11,540,931
    28,063,846
Containers & Packaging — 0.5%
CCL Industries Inc., Class B, NVS
 318,575 15,759,295
Diversified Financial Services — 0.4%
Onex Corp.
 184,297 13,222,727
Diversified Telecommunication Services — 1.0%
BCE Inc.
 329,051 13,700,312
TELUS Corp.
 422,217 14,838,786
    28,539,098
Electric Utilities — 1.4%
Emera Inc.
 126,010 3,934,170
Fortis Inc./Canada
 907,689 28,989,790
Hydro One Ltd.(b)
 697,632 10,465,555
    43,389,515
Equity Real Estate Investment Trusts (REITs) — 0.5%
H&R REIT
 300,353 4,679,413
RioCan REIT
 347,568 6,309,918
SmartCentres REIT
 140,617 3,189,140
    14,178,471
Food & Staples Retailing — 3.1%
Alimentation Couche-Tard Inc., Class B
 932,286 38,909,932
Empire Co. Ltd., Class A, NVS
 371,150 7,141,462
George Weston Ltd.
 111,027 9,008,319
Loblaw Companies Ltd.
 416,662 21,536,530
Metro Inc.
 523,218 17,255,062
    93,851,305
 Security   Shares Value
Food Products — 0.6%
Saputo Inc.
   495,780 $    17,221,590
Hotels, Restaurants & Leisure — 1.0%
Restaurant Brands International Inc.
   498,437    29,421,308
Insurance — 8.3%
Fairfax Financial Holdings Ltd.
    60,176     33,772,226
Great-West Lifeco Inc.
   640,969     16,261,401
Industrial Alliance Insurance & Financial Services Inc.
   230,121      9,402,107
Intact Financial Corp.
   300,463     22,710,760
Manulife Financial Corp.
 4,269,003 80,496,310
Power Corp. of Canada
 762,938 17,767,774
Power Financial Corp.
 536,998 13,375,274
Sun Life Financial Inc.
 1,315,884 54,361,875
    248,147,727
Internet Software & Services — 0.9%
Shopify Inc., Class A(a)(c)
 188,430 27,937,667
IT Services — 1.1%
CGI Group Inc., Class A(a)(c)
 549,510 33,766,144
Media — 0.7%
Shaw Communications Inc., Class B, NVS
 971,380 19,544,417
Metals & Mining — 7.0%
Agnico Eagle Mines Ltd.
 502,894 22,558,898
Barrick Gold Corp.
 2,511,964 33,055,215
First Quantum Minerals Ltd.(c)
 1,488,010 23,343,358
Franco-Nevada Corp.
 400,691 28,241,735
Goldcorp Inc.(c)
 1,867,128 26,671,201
Kinross Gold Corp.(a)
 2,686,440 9,692,059
Lundin Mining Corp.
 1,402,023 8,786,962
Teck Resources Ltd., Class B
 1,108,388 30,050,883
Turquoise Hill Resources Ltd.(a)
 2,192,436 6,168,973
Wheaton Precious Metals Corp.
 954,598 20,855,155
    209,424,439
Multi-Utilities — 0.4%
Atco Ltd./Canada, Class I, NVS
 163,748 4,974,799
Canadian Utilities Ltd., Class A, NVS
 274,633 6,662,581
    11,637,380
Multiline Retail — 1.4%
Canadian Tire Corp. Ltd., Class A, NVS
 135,660 17,263,917
Dollarama Inc.(c)
 224,096 25,852,579
    43,116,496
Oil, Gas & Consumable Fuels — 21.4%
AltaGas Ltd.
 377,516 7,406,554
ARC Resources Ltd.
 766,407 7,893,306
Cameco Corp.(c)
 853,364 8,821,779
Canadian Natural Resources Ltd.
 2,626,882 90,904,049
Cenovus Energy Inc.
 2,253,109 23,760,816
Crescent Point Energy Corp.
 1,171,521 9,428,522
Enbridge Inc.
 3,649,334 113,345,411
Encana Corp.
 2,099,875 26,709,788
Husky Energy Inc.
 760,099 10,963,192
Imperial Oil Ltd.
 626,449 20,485,636
Inter Pipeline Ltd.
 822,293 15,524,172
Keyera Corp.
 442,346 12,395,372
Pembina Pipeline Corp.
 1,084,526 37,705,922
PrairieSky Royalty Ltd.
 459,291 9,464,114
Seven Generations Energy Ltd., Class A(a)
 569,146 7,362,219
Suncor Energy Inc.
 3,536,702 140,791,930
 
 
  
56

iShares® MSCI Canada ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Oil, Gas & Consumable Fuels (continued)
Tourmaline Oil Corp.
   550,030 $    10,964,983
TransCanada Corp.
 1,896,645     79,363,160
Vermilion Energy Inc.
   248,288     8,699,267
    641,990,192
Paper & Forest Products — 0.3%
West Fraser Timber Co. Ltd.
   131,183     9,529,274
Pharmaceuticals — 0.5%
Valeant Pharmaceuticals International Inc.(a)
   676,790    14,884,998
Real Estate Management & Development — 0.2%
First Capital Realty Inc.
 360,250 5,837,539
Road & Rail — 6.4%
Canadian National Railway Co.
 1,596,773 133,249,057
Canadian Pacific Railway Ltd.
 310,873 59,914,708
    193,163,765
Software — 2.2%
BlackBerry Ltd.(a)
 1,103,539 13,058,375
Constellation Software Inc./Canada
 43,304 34,091,051
Open Text Corp.
 573,829 20,007,929
    67,157,355
Textiles, Apparel & Luxury Goods — 0.5%
Gildan Activewear Inc.
 473,427 13,704,274
Trading Companies & Distributors — 0.3%
Finning International Inc.
 362,348 9,008,420
Wireless Telecommunication Services — 1.2%
Rogers Communications Inc., Class B, NVS
 782,535 36,707,720
Total Common Stocks — 99.6%

(Cost: $3,386,245,183)
 2,992,010,596
 Security   Shares Value
Short-Term Investments
Money Market Funds — 0.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 1,954,221 $     1,954,612
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
 1,027,113     1,027,113
    2,981,725
Total Short-Term Investments — 0.1%

(Cost: $2,981,344)
 2,981,725
Total Investments in Securities — 99.7%

(Cost: $3,389,226,527)
 2,994,992,321
Other Assets, Less Liabilities — 0.3%
 9,893,466
Net Assets — 100.0%
 $ 3,004,885,787
    
(a) Non-income producing security.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) All or a portion of this security is on loan.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 43,796,579 (41,842,358) 1,954,221 $1,954,612   $41,230 (a)   $ (2,388)   $ (2,305)
BlackRock Cash Funds: Treasury, SL Agency Shares
 412,255 614,858 1,027,113 1,027,113   15,974   —   —
        $2,981,725   $57,204   $ (2,388)   $ (2,305)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
S&P/TSX 60 Index
 83 06/14/18 $ 12,148 $ 283,178
57
  

iShares® MSCI Canada ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $2,992,010,596   $           —   $           —   $2,992,010,596
Money Market Funds
     2,981,725              —              —       2,981,725
  $2,994,992,321   $           —   $           —   $2,994,992,321
Derivative financial instruments(a)              
Assets              
Futures Contracts
 $      283,178   $           —   $           —   $      283,178
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
  
58

iShares® MSCI Chile ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Airlines — 4.3%
Latam Airlines Group SA
     1,509,978 $  18,184,566
Banks — 18.6%
Banco de Chile
   114,890,935   17,815,721
Banco de Credito e Inversiones SA
       272,677   19,179,532
Banco Santander Chile
   377,715,984   30,287,121
Itau CorpBanca
 1,053,676,996  10,855,960
    78,138,334
Beverages — 4.5%
Cia. Cervecerias Unidas SA
 971,309 12,354,314
Vina Concha y Toro SA
 2,997,591 6,401,258
    18,755,572
Capital Markets — 0.8%
Sociedad de Inversiones Oro Blanco SA
 349,097,558 3,477,905
Construction & Engineering — 2.1%
Besalco SA
 3,617,336 3,993,836
Salfacorp SA
 2,675,157 4,711,959
    8,705,795
Diversified Financial Services — 1.2%
Inversiones La Construccion SA
 292,634 5,114,545
Electric Utilities — 13.4%
Enel Americas SA
 165,548,024 31,984,487
Enel Chile SA
 154,039,206 16,628,962
Engie Energia Chile SA
 3,799,518 7,625,924
    56,239,373
Food & Staples Retailing — 5.1%
Cencosud SA
 7,015,776 18,586,117
SMU SA(a)
 9,142,832 2,859,084
    21,445,201
Independent Power and Renewable Electricity Producers — 4.2%
AES Gener SA
 21,881,765 5,709,943
Colbun SA
 52,737,064 11,882,151
    17,592,094
IT Services — 1.4%
SONDA SA
 3,604,037 5,879,636
Marine — 0.3%
Cia. Sud Americana de Vapores SA(a)
 33,249,223 1,281,195
Metals & Mining — 1.4%
CAP SA
 582,808 6,065,617
Multiline Retail — 10.7%
Ripley Corp. SA
 5,462,957 5,472,514
SACI Falabella
 4,211,257 39,376,801
    44,849,315
 Security   Shares Value
Oil, Gas & Consumable Fuels — 8.7%
Empresas COPEC SA
     2,396,391 $  36,544,237
Paper & Forest Products — 4.5%
Empresas CMPC SA
     5,059,174  19,142,149
Real Estate Management & Development — 2.7%
Parque Arauco SA
     3,960,091  11,437,066
Specialty Retail — 0.3%
Empresas Tricot SA
       784,973   1,219,578
Textiles, Apparel & Luxury Goods — 0.7%
Forus SA
 909,939 3,155,504
Water Utilities — 3.7%
Aguas Andinas SA, Class A
 17,648,110 10,237,980
Inversiones Aguas Metropolitanas SA
 3,205,824 5,243,185
    15,481,165
Wireless Telecommunication Services — 2.6%
Empresa Nacional de Telecomunicaciones SA
 1,022,744 10,928,440
Total Common Stocks — 91.2%

(Cost: $252,266,305)
 383,637,287
Preferred Stocks
Beverages — 1.9%
Embotelladora Andina SA, Class B, Preference Shares
 1,835,587 7,930,048
Chemicals — 6.8%
Sociedad Quimica y Minera de Chile SA, Series B, Preference Shares
 551,126 28,704,288
Total Preferred Stocks — 8.7%

(Cost: $16,822,941)
 36,634,336
Short-Term Investments
Money Market Funds — 0.7%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(b)(c)
 2,693,403 2,693,403
Total Short-Term Investments — 0.7%

(Cost: $2,693,403)
 2,693,403
Total Investments in Securities — 100.6%

(Cost: $271,782,649)
 422,965,026
Other Assets, Less Liabilities — (0.6)%
 (2,388,139)
Net Assets — 100.0%
 $ 420,576,887
    
(a) Non-income producing security.
(b) Affiliate of the Fund.
(c) Annualized 7-day yield as of period-end.
 
 
59
  

iShares® MSCI Chile ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares
 227,709 2,465,694 2,693,403 $2,693,403   $ 7,269   $ —   $ —
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $383,637,287   $         —   $         —   $383,637,287
Preferred Stocks
  36,634,336            —            —     36,634,336
Money Market Funds
   2,693,403            —            —     2,693,403
  $422,965,026   $         —   $         —   $422,965,026
  
60

iShares® MSCI Colombia ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Banks — 7.3%
Banco de Bogota SA
     6,745 $    163,440
Bancolombia SA
   120,234   1,378,858
Grupo Aval Acciones y Valores SA
   114,753     49,271
    1,591,569
Capital Markets — 1.9%
Bolsa de Valores de Colombia
   105,756    402,810
Construction & Engineering — 1.5%
Constructora Conconcreto SA
 1,167,946 319,082
Construction Materials — 10.6%
Cementos Argos SA
 217,761 693,697
Cemex Latam Holdings SA(a)
 212,527 654,947
Grupo Argos SA/Colombia
 145,899 981,078
    2,329,722
Diversified Financial Services — 5.1%
Corp. Financiera Colombiana SA
 18,357 159,797
Grupo de Inversiones Suramericana SA
 74,298 954,964
    1,114,761
Diversified Telecommunication Services — 1.7%
Empresa de Telecomunicaciones de Bogota(a)
 2,703,269 374,413
Electric Utilities — 8.3%
Celsia SA ESP
 177,695 283,032
Enel Americas SA
 2,758,190 532,892
Interconexion Electrica SA ESP
 204,508 1,002,711
    1,818,635
Food & Staples Retailing — 4.5%
Almacenes Exito SA
 173,188 989,473
Food Products — 4.4%
Grupo Nutresa SA
 108,489 969,938
Gas Utilities — 6.4%
Grupo Energia Bogota SA ESP
 1,393,211 998,595
Promigas SA ESP
 150,394 405,146
    1,403,741
Metals & Mining — 1.6%
Mineros SA
 448,282 358,563
Oil, Gas & Consumable Fuels — 19.1%
Canacol Energy Ltd.(a)
 190,733 627,837
Ecopetrol SA
 2,771,095 2,964,913
 Security   Shares Value
Oil, Gas & Consumable Fuels (continued)
Empresas COPEC SA
    39,295 $    599,237
    4,191,987
Total Common Stocks — 72.4%

(Cost: $12,875,519)
 15,864,694
Preferred Stocks
Airlines — 2.5%
Avianca Holdings SA, Preference Shares, NVS
   563,789    543,681
Banks — 21.2%
Banco Davivienda SA, Preference Shares, NVS
    87,725   1,046,744
Bancolombia SA, Preference Shares, NVS
 251,633 2,918,868
Grupo Aval Acciones y Valores SA, Preference Shares, NVS
 1,566,725 675,405
    4,641,017
Construction Materials — 3.3%
Cementos Argos SA, Preference Shares, NVS
 59,566 167,065
Grupo Argos SA/Colombia, Preference Shares, NVS
 95,584 562,647
    729,712
Diversified Financial Services — 0.2%
Grupo de Inversiones Suramericana SA, Preference Shares, NVS
 4,553 55,651
Total Preferred Stocks — 27.2%

(Cost: $4,824,247)
 5,970,061
Short-Term Investments
Money Market Funds — 0.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(b)(c)
 39,909 39,909
Total Short-Term Investments — 0.2%

(Cost: $39,909)
 39,909
Total Investments in Securities — 99.8%

(Cost: $17,739,675)
 21,874,664
Other Assets, Less Liabilities — 0.2%
 38,481
Net Assets — 100.0%
 $ 21,913,145
    
(a) Non-income producing security.
(b) Affiliate of the Fund.
(c) Annualized 7-day yield as of period-end.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 59,106 (59,106) — $ —   $ 806(a)   $ (15)   $ 4
BlackRock Cash Funds: Treasury, SL Agency Shares
 57,311 (17,402) 39,909 39,909   341   —   —
        $ 39,909   $ 1,147   $ (15)   $ 4
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
61
  

iShares® MSCI Colombia ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $15,864,694   $        —   $        —   $15,864,694
Preferred Stocks
  5,970,061           —           —     5,970,061
Money Market Funds
     39,909           —           —       39,909
  $21,874,664   $        —   $        —   $21,874,664
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
  
62

iShares® MSCI EM ESG Optimized ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Brazil — 3.9%
Ambev SA
    386,400 $   2,042,995
Atacadao Distribuicao Comercio e Industria Ltda
     92,000      394,033
B3 SA - Brasil, Bolsa, Balcao
    349,600    2,043,687
Banco Bradesco SA
     60,602      424,404
Banco do Brasil SA
     64,400      525,188
Banco Santander Brasil SA, NVS
     64,400      584,158
Cielo SA
    110,400      502,485
Cosan SA Industria e Comercio
 119,600 1,246,084
EDP - Energias do Brasil SA
 257,600 914,454
Klabin SA, NVS
 55,200 311,126
Localiza Rent a Car SA
 92,030 611,136
Natura Cosmeticos SA
 94,000 851,138
Ultrapar Participacoes SA
 119,600 1,605,779
WEG SA
 165,680 764,324
    12,820,991
Chile — 0.9%
Banco Santander Chile
 16,832,596 1,349,720
Empresas COPEC SA
 84,272 1,285,122
Latam Airlines Group SA
 26,128 314,658
    2,949,500
China — 30.0%
3SBio Inc.(a)(b)
 138,000 394,957
58.com Inc., ADR(b)
 3,864 313,834
AAC Technologies Holdings Inc.
 78,500 1,181,881
Agricultural Bank of China Ltd., Class H
 1,380,000 714,265
Air China Ltd., Class H
 376,000 435,718
Alibaba Group Holding Ltd., ADR(b)
 61,916 12,259,987
Alibaba Pictures Group Ltd.(b)(c)
 6,580,000 855,619
Baidu Inc., ADR(b)
 13,524 3,280,381
Bank of China Ltd., Class H
 1,412,000 738,028
BBMG Corp., Class H
 1,472,000 645,536
Beijing Enterprises Water Group Ltd.(c)
 368,000 221,903
Brilliance China Automotive Holdings Ltd.
 184,000 343,879
BYD Co. Ltd., Class H
 188,000 1,219,915
BYD Electronic International Co. Ltd.(c)
 276,000 438,411
China Agri-Industries Holdings Ltd.
 644,000 273,391
China CITIC Bank Corp. Ltd., Class H
 1,564,000 1,062,718
China Construction Bank Corp., Class H
 5,888,000 5,944,935
China Everbright Bank Co. Ltd., Class H
 2,116,000 1,054,743
China Everbright International Ltd.
 736,000 1,099,663
China Everbright Ltd.
 222,000 487,915
China Evergrande Group(b)
 92,000 269,755
China Galaxy Securities Co. Ltd., Class H
 1,196,000 748,629
China International Marine Containers Group Co. Ltd., Class H
 211,600 330,720
China Life Insurance Co. Ltd., Class H
 276,000 770,562
China Longyuan Power Group Corp. Ltd., Class H
 1,564,000 1,443,542
China Medical System Holdings Ltd.
 188,000 452,975
China Mengniu Dairy Co. Ltd.
 184,000 668,524
China Merchants Bank Co. Ltd., Class H
 506,000 2,083,565
China Minsheng Banking Corp. Ltd., Class H
 920,000 877,291
China Molybdenum Co. Ltd., Class H
 1,380,000 874,359
China National Building Material Co. Ltd., Class H
 368,000 421,287
China Oilfield Services Ltd., Class H
 328,000 342,880
China Pacific Insurance Group Co. Ltd., Class H
 165,600 715,672
China Shenhua Energy Co. Ltd., Class H
 330,000 862,426
China Travel International Investment Hong Kong Ltd.
 1,924,000 853,569
China Vanke Co. Ltd., Class H
 101,200 361,882
 Security Shares Value
China (continued)
Chongqing Rural Commercial Bank Co. Ltd., Class H
    368,000 $     245,829
Country Garden Holdings Co. Ltd.
    276,000      541,152
CSPC Pharmaceutical Group Ltd.
    276,000      863,803
Ctrip.com International Ltd., ADR(b)
      9,752      439,718
Fosun International Ltd.
    276,000      606,597
GCL-Poly Energy Holdings Ltd.(b)
  3,312,000      363,114
Geely Automobile Holdings Ltd.
    828,000    2,348,629
Greentown China Holdings Ltd.
    312,750      470,472
Guangzhou Automobile Group Co. Ltd., Class H
 368,000 623,955
Haier Electronics Group Co. Ltd.
 96,000 345,123
HengTen Networks Group Ltd.(b)
 10,352,000 415,709
Huaneng Renewables Corp. Ltd., Class H
 2,944,000 1,264,800
Industrial & Commercial Bank of China Ltd., Class H
 3,772,000 3,125,641
JD.com Inc., ADR(b)
 17,020 598,764
Kingboard Chemical Holdings Ltd.
 92,000 365,929
Kingboard Laminates Holdings Ltd.
 230,000 304,941
Lee & Man Paper Manufacturing Ltd.
 276,000 323,706
Lenovo Group Ltd.(c)
 2,760,000 1,463,715
Momo Inc., ADR(b)
 9,844 452,036
NetEase Inc., ADR
 1,380 315,082
New Oriental Education & Technology Group Inc., ADR
 6,624 658,889
People's Insurance Co. Group of China Ltd. (The), Class H
 736,000 348,101
Ping An Insurance Group Co. of China Ltd., Class H
 368,000 3,607,682
Semiconductor Manufacturing International Corp.(b)
 276,000 361,003
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H
 154,000 986,531
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
 349,600 1,080,780
Shenzhou International Group Holdings Ltd.
 92,000 1,076,675
Shui On Land Ltd.
 2,668,000 748,277
Sino Biopharmaceutical Ltd.
 276,000 698,079
Sinopharm Group Co. Ltd., Class H
 220,800 980,971
Sinotrans Ltd., Class H
 1,656,000 939,452
SOHO China Ltd.
 1,748,000 913,649
Sunac China Holdings Ltd.
 188,000 715,412
Sunny Optical Technology Group Co. Ltd.
 27,600 561,560
TAL Education Group, Class A, ADR(b)
 10,856 460,946
Tencent Holdings Ltd.
 377,200 19,196,247
Towngas China Co. Ltd.
 460,000 451,547
TravelSky Technology Ltd., Class H
 190,000 555,892
Vipshop Holdings Ltd., ADR(b)
 40,112 468,508
Weibo Corp., ADR(b)(c)
 3,128 318,774
Xinjiang Goldwind Science & Technology Co. Ltd., Class H
 294,400 471,391
Yanzhou Coal Mining Co. Ltd., Class H
 184,000 265,533
YY Inc., ADR(b)
 2,944 343,064
Zhongsheng Group Holdings Ltd.
 184,000 589,943
    97,322,938
Colombia — 0.9%
Bancolombia SA
 21,068 241,611
Cementos Argos SA
 563,776 1,795,959
Grupo Argos SA/Colombia
 108,744 731,234
    2,768,804
Czech Republic — 0.3%
Komercni Banka AS
 27,599 1,116,823
Egypt — 0.1%
Commercial International Bank Egypt SAE
 59,064 278,041
Global Telecom Holding SAE(b)
 394,461 107,350
    385,391
 
 
63
  

iShares® MSCI EM ESG Optimized ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Greece — 0.2%
Hellenic Telecommunications Organization SA
     65,688 $     785,945
Hungary — 0.6%
MOL Hungarian Oil & Gas PLC
    199,916   1,881,875
India — 8.8%
Axis Bank Ltd., GDR(d)
     85,550    3,379,225
Housing Development Finance Corp. Ltd.
     20,000      543,252
ICICI Bank Ltd., ADR, NVS
    418,692    3,512,826
IDFC Bank Ltd.
     14,038        8,467
Infosys Ltd., ADR, NVS(c)
 415,656 7,560,783
Mahindra & Mahindra Ltd., GDR, NVS
 334,673 4,334,015
Reliance Industries Ltd., GDR, NVS(a)
 210,701 5,583,576
Tata Consultancy Services Ltd.
 3,912 100,930
Wipro Ltd., ADR, NVS
 738,852 3,398,719
    28,421,793
Indonesia — 1.6%
Astra International Tbk PT
 2,189,600 1,087,315
Bank Danamon Indonesia Tbk PT
 828,000 347,110
Bank Mandiri Persero Tbk PT
 1,830,800 928,905
Bank Rakyat Indonesia Persero Tbk PT
 2,732,400 605,671
Kalbe Farma Tbk PT
 7,461,200 735,649
Unilever Indonesia Tbk PT
 211,600 694,420
United Tractors Tbk PT
 358,800 905,069
    5,304,139
Malaysia — 3.3%
Astro Malaysia Holdings Bhd
 1,472,000 517,789
Axiata Group Bhd
 257,600 282,195
CIMB Group Holdings Bhd
 404,800 600,080
DiGi.Com Bhd
 19,000 21,101
Maxis Bhd
 772,800 1,124,249
Nestle Malaysia Bhd
 36,800 1,368,442
Petronas Dagangan Bhd
 82,800 520,933
Public Bank Bhd
 726,800 4,357,148
Sime Darby Plantation Bhd
 708,400 986,064
Sime Darby Property Bhd
 929,200 268,488
Telekom Malaysia Bhd
 340,400 313,886
Top Glove Corp. Bhd
 110,400 284,599
    10,644,974
Mexico — 2.2%
Alsea SAB de CV
 119,600 390,909
Arca Continental SAB de CV
 156,400 935,318
Coca-Cola Femsa SAB de CV, Series L, NVS
 441,600 2,578,891
Grupo Financiero Banorte SAB de CV, Class O
 211,600 1,122,900
Industrias Penoles SAB de CV
 21,620 363,942
Infraestructura Energetica Nova SAB de CV
 138,000 574,690
Kimberly-Clark de Mexico SAB de CV, Class A
 690,000 1,144,345
    7,110,995
Peru — 0.1%
Credicorp Ltd.
 1,656 366,672
Philippines — 0.4%
SM Prime Holdings Inc.
 1,895,200 1,334,762
Poland — 0.9%
Bank Handlowy w Warszawie SA
 15,088 325,026
Bank Zachodni WBK SA
 4,646 435,749
KGHM Polska Miedz SA
 40,112 918,518
mBank SA
 3,878 441,702
 Security Shares Value
Poland (continued)
Polski Koncern Naftowy ORLEN SA
     33,304 $     733,638
    2,854,633
Qatar — 0.3%
Commercial Bank PQSC (The)
     32,384      334,701
Ooredoo QPSC
     37,720      692,954
Qatar Gas Transport Co. Ltd.
     22,292      89,717
    1,117,372
Russia — 3.2%
Alrosa PJSC
 462,300 654,945
Gazprom PJSC
 7,360 17,123
Gazprom PJSC, ADR, NVS
 61,042 277,253
Inter RAO UES PJSC
 11,592,000 758,820
LUKOIL PJSC
 26,680 1,801,711
LUKOIL PJSC, ADR, NVS
 3,408 227,450
Novatek PJSC, GDR, NVS(d)
 13,354 1,924,311
Novolipetsk Steel PJSC
 289,800 758,588
Rosneft Oil Co. PJSC
 2,040 12,611
RusHydro PJSC
 46,368,000 538,539
Sberbank of Russia PJSC
 73,710 262,968
Sberbank of Russia PJSC, ADR
 167,072 2,402,495
Tatneft PJSC
 56,120 600,120
    10,236,934
South Africa — 7.0%
Barclays Africa Group Ltd.
 42,780 546,125
Clicks Group Ltd.
 23,920 381,492
Exxaro Resources Ltd.
 52,440 519,017
FirstRand Ltd.
 228,436 1,082,208
Foschini Group Ltd. (The)
 25,852 376,074
Growthpoint Properties Ltd.
 589,536 1,266,118
Imperial Holdings Ltd.
 60,352 972,685
Investec Ltd.
 250,608 1,823,017
Kumba Iron Ore Ltd.
 41,492 950,630
Mondi Ltd.
 28,704 794,873
Mr. Price Group Ltd.
 21,712 430,297
Naspers Ltd., Class N
 26,312 6,286,625
Nedbank Group Ltd.
 11,316 244,458
NEPI Rockcastle PLC
 71,852 703,486
Netcare Ltd.
 400,936 937,364
Sanlam Ltd.
 106,168 637,511
Sasol Ltd.
 7,360 265,867
Standard Bank Group Ltd.
 95,312 1,560,814
Vodacom Group Ltd.
 207,644 2,352,697
Woolworths Holdings Ltd./South Africa
 125,304 577,200
    22,708,558
South Korea — 14.2%
Amorepacific Corp.
 2,300 709,449
AMOREPACIFIC Group
 6,256 731,255
BNK Financial Group Inc.
 164,588 1,455,099
Celltrion Inc.(b)
 3,312 815,748
CJ CheilJedang Corp.
 1,932 628,198
DGB Financial Group Inc.
 97,152 932,811
GS Engineering & Construction Corp.
 7,360 334,902
GS Holdings Corp.
 16,376 885,682
Hana Financial Group Inc.
 8,188 315,989
Hankook Tire Co. Ltd.
 14,996 596,112
Hanwha Chemical Corp.
 19,964 478,751
Hyundai Marine & Fire Insurance Co. Ltd.
 11,960 377,789
Hyundai Motor Co.
 1,104 142,359
Kangwon Land Inc.
 13,892 346,027
 
 
  
64

iShares® MSCI EM ESG Optimized ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Korea (continued)
KB Financial Group Inc.
     40,112 $   1,927,549
LG Chem Ltd.
      5,336    1,675,621
LG Corp.
     10,304      701,622
LG Display Co. Ltd.
     56,488    1,163,350
LG Electronics Inc.
     17,858    1,534,070
LG Household & Health Care Ltd.
      1,104    1,375,455
LG Innotek Co. Ltd.
      2,944      393,280
NAVER Corp.
      1,840    1,141,945
NCSoft Corp.
 920 301,276
POSCO
 10,580 3,332,168
Samsung Electro-Mechanics Co. Ltd.
 6,624 823,430
Samsung Electronics Co. Ltd.
 286,396 13,470,270
Samsung Fire & Marine Insurance Co. Ltd.
 2,392 555,866
Samsung SDI Co. Ltd.
 3,496 650,260
Shinhan Financial Group Co. Ltd.
 72,772 2,953,546
SK Holdings Co. Ltd.
 4,048 1,040,212
SK Hynix Inc.
 24,472 2,120,400
SK Innovation Co. Ltd.
 4,324 826,331
SK Telecom Co. Ltd.
 4,442 914,814
S-Oil Corp.
 4,232 422,042
    46,073,678
Taiwan — 12.1%
Acer Inc.
 1,196,000 979,984
ASE Industrial Holding Co. Ltd.
 292,186 741,156
Cathay Financial Holding Co. Ltd.
 368,000 658,338
China Steel Corp.
 368,000 289,865
Chunghwa Telecom Co. Ltd.
 1,362,000 4,954,959
Delta Electronics Inc.
 111,000 411,228
E.Sun Financial Holding Co. Ltd.
 3,312,000 2,310,325
Eva Airways Corp.
 2,208,441 1,116,696
Far Eastern New Century Corp.
 2,169,000 2,066,817
Far EasTone Telecommunications Co. Ltd.
 276,000 703,783
Fubon Financial Holding Co. Ltd.
 1,288,000 2,239,701
Hiwin Technologies Corp.
 17,380 246,533
Hotai Motor Co. Ltd.
 94,000 858,068
Inventec Corp.
 1,012,000 819,084
Lite-On Technology Corp.
 368,039 480,294
Macronix International(b)
 276,000 455,985
MediaTek Inc.
 95,000 987,684
President Chain Store Corp.
 206,000 2,110,776
Taiwan Semiconductor Manufacturing Co. Ltd.
 2,075,000 15,513,242
Wistron Corp.
 1,659,529 1,249,016
    39,193,534
Thailand — 3.3%
BTS Group Holdings PCL, NVDR
 9,117,200 2,764,515
Kasikornbank PCL, NVDR
 294,400 1,762,351
Minor International PCL, NVDR
 1,794,000 1,822,601
PTT Exploration & Production PCL, NVDR
 178,600 750,913
PTT PCL, NVDR
 628,800 1,027,033
Siam Cement PCL (The), NVDR
 138,000 1,923,976
Siam Commercial Bank PCL (The), NVDR
 165,600 688,490
    10,739,879
Turkey — 0.7%
Anadolu Efes Biracilik Ve Malt Sanayii AS
 62,376 346,423
Arcelik AS
 267,352 979,270
Coca-Cola Icecek AS
 91,056 715,211
Ulker Biskuvi Sanayi AS
 84,548 326,084
    2,366,988
 Security Shares Value
United Arab Emirates — 0.6%
Abu Dhabi Commercial Bank PJSC
    746,856 $   1,429,399
First Abu Dhabi Bank PJSC
    193,016     646,338
    2,075,737
Total Common Stocks — 95.6%

(Cost: $305,973,247)
 310,582,915
Preferred Stocks
Brazil — 2.6%
Banco Bradesco SA, Preference Shares, NVS
    303,655    2,378,490
Cia. Brasileira de Distribuicao, Preference Shares, NVS
     37,600      802,674
Cia. Energetica de Minas Gerais, Preference Shares, NVS
 386,482 795,993
Itau Unibanco Holding SA, Preference Shares, NVS
 211,640 2,442,579
Itausa-Investimentos Itau SA, Preference Shares, NVS
 395,665 1,193,141
Telefonica Brasil SA, Preference Shares, NVS
 64,400 786,832
    8,399,709
Chile — 0.3%
Embotelladora Andina SA, Class B, Preference Shares
 153,916 664,943
Sociedad Quimica y Minera de Chile SA, Series B, Preference Shares
 10,212 531,872
    1,196,815
Colombia — 0.1%
Bancolombia SA, Preference Shares, NVS
 36,156 419,399
South Korea — 0.8%
LG Chem Ltd., Preference Shares, NVS
 1,840 335,414
Samsung Electronics Co. Ltd., Preference Shares, NVS
 58,250 2,188,529
    2,523,943
Total Preferred Stocks — 3.8%

(Cost: $13,284,074)
 12,539,866
Short-Term Investments
Money Market Funds — 3.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(e)(f)(g)
 10,706,974 10,709,115
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(e)(f)
 444,639 444,639
    11,153,754
Total Short-Term Investments — 3.5%

(Cost: $11,153,121)
 11,153,754
Total Investments in Securities — 102.9%

(Cost: $330,410,442)
 334,276,535
Other Assets, Less Liabilities — (2.9)%
 (9,287,650)
Net Assets — 100.0%
 $ 324,988,885
    
(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b) Non-income producing security.
(c) All or a portion of this security is on loan.
(d) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(e) Affiliate of the Fund.
(f) Annualized 7-day yield as of period-end.
(g) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
65
  

iShares® MSCI EM ESG Optimized ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 3,986,796 6,720,178 10,706,974 $10,709,115   $37,190 (a)   $ (354)   $ 575
BlackRock Cash Funds: Treasury, SL Agency Shares
 113,313 331,326 444,639 444,639   3,174   —   —
        $11,153,754   $40,364   $ (354)   $ 575
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
    
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI Emerging Markets E-Mini
 22 06/15/18 $ 1,234 $ (46,033)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $309,465,543   $  1,117,372   $         —   $310,582,915
Preferred Stocks
  12,539,866            —            —     12,539,866
Money Market Funds
  11,153,754            —            —    11,153,754
  $333,159,163   $  1,117,372   $         —   $334,276,535
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $     (46,033)   $          —   $         —   $     (46,033)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
GDR
 Global Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
  
66

iShares® MSCI Emerging Markets Asia ETF
Consolidated Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
China — 42.5%
3SBio Inc.(a)(b)(c)
    148,000 $     423,577
58.com Inc., ADR(b)
     12,575    1,021,341
AAC Technologies Holdings Inc.
    101,000    1,520,636
Agile Group Holdings Ltd.
     58,000      110,615
Agricultural Bank of China Ltd., Class A
     44,000       24,660
Agricultural Bank of China Ltd., Class H
  3,569,000    1,847,254
Air China Ltd., Class H
    258,000      298,977
Alibaba Group Holding Ltd., ADR(b)
 155,802 30,850,354
Alibaba Health Information Technology Ltd.(b)(c)
 480,000 439,971
Alibaba Pictures Group Ltd.(b)(c)
 1,800,000 234,060
Aluminum Corp. of China Ltd., Class H(b)(c)
 570,000 300,109
Anhui Conch Cement Co. Ltd., Class H
 170,000 1,042,433
ANTA Sports Products Ltd.
 151,000 870,101
Autohome Inc., ADR
 7,341 827,478
AviChina Industry & Technology Co. Ltd., Class H
 321,000 214,432
Baidu Inc., ADR(b)
 37,496 9,095,030
Bank of Beijing Co. Ltd., Class A
 23,500 24,287
Bank of China Ltd., Class H
 10,896,000 5,695,149
Bank of Communications Co. Ltd., Class A
 26,200 24,623
Bank of Communications Co. Ltd., Class H
 1,183,000 936,549
Bank of Jiangsu Co. Ltd., Class A
 21,499 24,166
Beijing Capital International Airport Co. Ltd., Class H
 212,000 313,508
Beijing Enterprises Holdings Ltd.
 69,500 384,086
Beijing Enterprises Water Group Ltd.(c)
 778,000 469,132
BOE Technology Group Co. Ltd., Class A
 38,800 24,956
Brilliance China Automotive Holdings Ltd.
 420,000 784,942
BYD Co. Ltd., Class H(c)
 90,000 584,002
BYD Electronic International Co. Ltd.(c)
 36,000 57,184
CGN Power Co. Ltd., Class H(a)
 1,470,000 417,904
Changjiang Securities Co. Ltd., Class A
 23,700 23,458
China Cinda Asset Management Co. Ltd., Class H
 1,242,000 449,670
China CITIC Bank Corp. Ltd., Class H
 1,233,000 837,808
China Communications Construction Co. Ltd., Class H
 584,000 626,872
China Communications Services Corp. Ltd., Class H
 358,000 230,477
China Conch Venture Holdings Ltd.
 227,000 787,134
China Construction Bank Corp., Class A
 21,900 24,343
China Construction Bank Corp., Class H
 11,608,000 11,720,245
China Everbright Bank Co. Ltd., Class H
 382,000 190,412
China Everbright International Ltd.
 335,000 500,526
China Everbright Ltd.
 130,000 285,716
China Evergrande Group(b)(c)
 563,000 1,650,784
China Galaxy Securities Co. Ltd., Class H
 449,500 281,362
China Gas Holdings Ltd.
 234,600 973,494
China Huarong Asset Management Co. Ltd., Class H(a)
 937,000 315,353
China Huishan Dairy Holdings Co. Ltd.(b)(d)
 20,200 —
China International Marine Containers Group Co. Ltd., Class A
 9,900 24,636
China Jinmao Holdings Group Ltd.
 688,000 392,935
China Life Insurance Co. Ltd., Class H
 1,021,000 2,850,519
China Longyuan Power Group Corp. Ltd., Class H
 421,000 388,575
China Medical System Holdings Ltd.
 180,000 433,699
China Mengniu Dairy Co. Ltd.
 379,000 1,377,013
China Merchants Bank Co. Ltd., Class A
 5,500 24,712
China Merchants Bank Co. Ltd., Class H
 532,831 2,194,048
China Merchants Port Holdings Co. Ltd.
 176,000 401,624
China Minsheng Banking Corp. Ltd., Class H
 759,800 724,528
China Mobile Ltd.
 842,500 7,518,342
China Molybdenum Co. Ltd., Class H
 135,000 85,535
 Security Shares Value
China (continued)
China National Building Material Co. Ltd., Class H
    544,000 $     622,772
China National Nuclear Power Co. Ltd., Class A
     24,500       23,408
China Oilfield Services Ltd., Class H
    238,000      248,797
China Overseas Land & Investment Ltd.
    530,000    1,773,615
China Pacific Insurance Group Co. Ltd., Class H
    363,200    1,569,638
China Petroleum & Chemical Corp., Class H
  3,494,600    3,417,015
China Power International Development Ltd.
     87,000       24,179
China Railway Construction Corp. Ltd., Class H
    273,500      309,965
China Railway Group Ltd., Class H
 569,000 459,166
China Resources Beer Holdings Co. Ltd.
 224,000 1,087,995
China Resources Gas Group Ltd.
 126,000 478,675
China Resources Land Ltd.
 379,777 1,394,361
China Resources Pharmaceutical Group Ltd.(a)
 79,500 122,025
China Resources Power Holdings Co. Ltd.
 262,000 536,415
China Shenhua Energy Co. Ltd., Class H
 456,000 1,191,716
China Southern Airlines Co. Ltd., Class H
 256,000 253,254
China State Construction International Holdings Ltd.
 268,000 331,065
China Taiping Insurance Holdings Co. Ltd.
 227,300 815,703
China Telecom Corp. Ltd., Class H
 1,924,000 897,719
China Unicom Hong Kong Ltd.
 842,000 1,144,257
China Vanke Co. Ltd., Class H
 160,800 575,007
Chongqing Rural Commercial Bank Co. Ltd., Class H
 353,000 235,809
CIFI Holdings Group Co. Ltd.
 106,000 82,025
CITIC Ltd.
 807,000 1,199,572
CITIC Securities Co. Ltd., Class H
 314,500 793,051
CNOOC Ltd.
 2,446,000 4,116,086
COSCO SHIPPING Ports Ltd.
 236,000 227,150
Country Garden Holdings Co. Ltd.
 733,828 1,438,814
CRRC Corp. Ltd., Class H
 590,750 527,929
CSPC Pharmaceutical Group Ltd.
 586,000 1,834,016
Ctrip.com International Ltd., ADR(b)
 53,932 2,431,794
Dongfeng Motor Group Co. Ltd., Class H
 378,000 431,290
ENN Energy Holdings Ltd.
 105,000 1,080,901
Far East Horizon Ltd.
 303,000 321,767
Fosun International Ltd.
 357,500 785,719
Fullshare Holdings Ltd.(c)
 600,000 283,013
Fuyao Glass Industry Group Co. Ltd., Class H(a)
 70,800 262,200
GCL-Poly Energy Holdings Ltd.(b)
 1,840,000 201,730
Geely Automobile Holdings Ltd.
 673,000 1,908,970
Gemdale Corp., Class A
 14,900 24,727
GF Securities Co. Ltd., Class H
 196,000 330,825
GOME Retail Holdings Ltd.(b)(c)
 1,550,000 173,888
Great Wall Motor Co. Ltd., Class H
 415,000 404,728
Guangdong Investment Ltd.
 412,000 694,357
Guangzhou Automobile Group Co. Ltd., Class H
 292,000 495,095
Guangzhou R&F Properties Co. Ltd., Class H
 136,400 319,953
Haier Electronics Group Co. Ltd.
 171,000 614,751
Haitian International Holdings Ltd.(c)
 91,000 258,122
Haitong Securities Co. Ltd., Class H
 454,800 569,359
Hanergy Thin Film Power Group Ltd.(b)(d)
 2,513 —
Hengan International Group Co. Ltd.(c)
 100,500 957,064
Huaneng Power International Inc., Class H
 554,000 427,993
Huaneng Renewables Corp. Ltd., Class H
 686,000 294,719
Huatai Securities Co. Ltd., Class H(a)
 214,400 422,560
Huaxia Bank Co. Ltd., Class A
 19,000 24,709
Industrial & Commercial Bank of China Ltd., Class H
 10,111,000 8,378,409
Industrial Securities Co. Ltd., Class A
 25,600 23,620
JD.com Inc., ADR(b)
 90,030 3,167,255
Jiangsu Expressway Co. Ltd., Class H
 174,000 262,636
Jiangxi Copper Co. Ltd., Class H
 175,000 254,330
 
 
67
  

iShares® MSCI Emerging Markets Asia ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
Jihua Group Corp. Ltd., Class A
     34,600 $      23,605
Kangmei Pharmaceutical Co. Ltd., Class A
      5,900       24,648
Kingboard Chemical Holdings Ltd.
     20,000       79,550
Kingsoft Corp. Ltd.
    115,000      362,850
Kunlun Energy Co. Ltd.
    468,000      425,989
Lee & Man Paper Manufacturing Ltd.
     83,000       97,346
Lenovo Group Ltd.
    968,000      513,361
Longfor Properties Co. Ltd.
    208,000      623,140
Luzhou Laojiao Co. Ltd., Class A
 2,500 26,969
Meitu Inc.(a)(b)
 67,500 71,509
Momo Inc., ADR(b)
 14,485 665,151
NetEase Inc., ADR
 10,914 2,491,884
New China Life Insurance Co. Ltd., Class H
 106,200 481,980
New Oriental Education & Technology Group Inc., ADR
 18,425 1,832,735
Nexteer Automotive Group Ltd.
 41,000 67,635
Nine Dragons Paper Holdings Ltd.
 239,000 380,248
People's Insurance Co. Group of China Ltd. (The), Class H
 990,000 468,234
PetroChina Co. Ltd., Class H
 2,890,000 2,391,094
PICC Property & Casualty Co. Ltd., Class H
 635,160 1,119,039
Ping An Insurance Group Co. of China Ltd., Class A
 2,600 25,219
Ping An Insurance Group Co. of China Ltd., Class H
 712,000 6,980,081
Poly Real Estate Group Co. Ltd., Class A
 12,600 24,274
RiseSun Real Estate Development Co. Ltd., Class A
 16,600 24,024
Semiconductor Manufacturing International Corp.(b)(c)
 404,300 528,817
Shandong Weigao Group Medical Polymer Co. Ltd., Class H
 268,000 230,618
Shanghai Electric Group Co. Ltd., Class H(b)
 398,000 152,215
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H
 68,500 438,814
Shanghai Industrial Holdings Ltd.
 64,000 170,114
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B
 131,480 195,905
Shanghai Pharmaceuticals Holding Co. Ltd., Class A
 6,000 24,813
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
 115,600 357,375
Shenzhou International Group Holdings Ltd.
 104,000 1,217,111
Shimao Property Holdings Ltd.
 169,500 501,316
Sihuan Pharmaceutical Holdings Group Ltd.
 550,000 142,335
SINA Corp./China(b)
 7,951 722,110
Sino Biopharmaceutical Ltd.
 611,000 1,545,386
Sino-Ocean Group Holding Ltd.
 442,000 298,643
Sinopec Shanghai Petrochemical Co. Ltd., Class H
 469,000 346,183
Sinopharm Group Co. Ltd., Class H
 165,200 733,951
SOHO China Ltd.
 288,500 150,794
Sun Art Retail Group Ltd.
 337,000 396,968
Sunac China Holdings Ltd.
 331,000 1,259,582
Sunny Optical Technology Group Co. Ltd.
 98,000 1,993,945
TAL Education Group, Class A, ADR(b)
 38,498 1,634,625
Tencent Holdings Ltd.
 777,600 39,573,175
Tingyi Cayman Islands Holding Corp.(c)
 278,000 622,334
TravelSky Technology Ltd., Class H
 135,000 394,976
Tsingtao Brewery Co. Ltd., Class H
 48,000 304,125
Vipshop Holdings Ltd., ADR(b)
 54,805 640,122
Want Want China Holdings Ltd.
 701,000 695,267
Weibo Corp., ADR(b)
 6,529 665,370
Weichai Power Co. Ltd., Class H
 265,200 355,667
XCMG Construction Machinery Co. Ltd., Class A
 37,600 24,126
Xinhu Zhongbao Co. Ltd., Class A(b)
 37,400 23,881
Yanzhou Coal Mining Co. Ltd., Class H
 262,000 378,096
Yum China Holdings Inc.
 52,856 2,077,241
YY Inc., ADR(b)
 5,818 677,972
 Security Shares Value
China (continued)
Zhaojin Mining Industry Co. Ltd., Class H
     30,500 $      25,468
Zhejiang Expressway Co. Ltd., Class H
    206,000      206,154
Zhuzhou CRRC Times Electric Co. Ltd., Class H
     80,000      402,848
Zijin Mining Group Co. Ltd., Class H
    800,000      333,497
ZTE Corp., Class H(b)(d)
    111,960     271,188
    227,626,711
India — 11.2%
Adani Ports & Special Economic Zone Ltd.
     98,522      572,525
Ambuja Cements Ltd.
 78,480 238,874
Ashok Leyland Ltd.
 162,815 357,200
Asian Paints Ltd.
 40,080 774,873
Aurobindo Pharma Ltd.
 36,901 304,198
Axis Bank Ltd.
 246,532 1,994,322
Bajaj Auto Ltd.
 11,718 477,576
Bajaj Finance Ltd.
 22,776 712,112
Bajaj Finserv Ltd.
 5,397 483,237
Bharat Forge Ltd.
 26,701 257,464
Bharat Heavy Electricals Ltd.
 114,065 141,393
Bharat Petroleum Corp. Ltd.
 102,390 612,906
Bharti Airtel Ltd.
 167,635 928,069
Bharti Infratel Ltd.
 76,208 337,265
Bosch Ltd.
 993 270,276
Britannia Industries Ltd.
 1,498 131,502
Cadila Healthcare Ltd.(b)
 31,164 166,851
Cipla Ltd./India
 46,755 363,606
Coal India Ltd.
 93,600 410,907
Container Corp. of India Ltd.
 5,748 117,464
Dabur India Ltd.
 74,320 422,137
Dr. Reddy's Laboratories Ltd.
 15,611 448,002
Eicher Motors Ltd.
 1,820 830,153
GAIL India Ltd.
 96,268 500,581
Glenmark Pharmaceuticals Ltd.
 17,963 142,663
Godrej Consumer Products Ltd.
 32,711 552,184
Grasim Industries Ltd.
 45,843 706,369
Havells India Ltd.
 36,958 298,013
HCL Technologies Ltd.
 78,498 1,058,951
Hero MotoCorp Ltd.
 6,866 360,675
Hindalco Industries Ltd.
 159,821 554,663
Hindustan Petroleum Corp. Ltd.
 85,868 396,813
Hindustan Unilever Ltd.
 89,240 2,131,009
Housing Development Finance Corp. Ltd.
 205,948 5,594,083
ICICI Bank Ltd.
 326,170 1,381,386
Idea Cellular Ltd.(b)
 284,776 259,530
IDFC Bank Ltd.
 3,319 2,002
Indiabulls Housing Finance Ltd.
 42,870 789,457
Indian Oil Corp. Ltd.
 154,876 399,569
Infosys Ltd.
 239,524 4,372,180
ITC Ltd.
 467,283 1,881,042
JSW Steel Ltd.
 115,929 570,175
Larsen & Toubro Ltd.
 65,264 1,325,348
LIC Housing Finance Ltd.
 39,419 277,553
Lupin Ltd.
 29,787 340,035
Mahindra & Mahindra Financial Services Ltd.
 36,544 264,079
Mahindra & Mahindra Ltd.
 102,743 1,405,204
Marico Ltd.
 65,434 312,080
Maruti Suzuki India Ltd.
 14,537 1,839,073
Motherson Sumi Systems Ltd.
 83,830 385,283
Nestle India Ltd.
 3,209 459,077
NTPC Ltd.
 223,585 555,132
Oil & Natural Gas Corp. Ltd.
 179,211 472,443
 
 
  
68

iShares® MSCI Emerging Markets Asia ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
India (continued)
Petronet LNG Ltd.
     27,668 $      90,057
Piramal Enterprises Ltd.
     10,743      377,527
Reliance Industries Ltd.
    358,055    4,888,586
Rural Electrification Corp. Ltd.
    101,943      178,484
Shree Cement Ltd.
      1,181      295,425
Shriram Transport Finance Co. Ltd.
     20,572      443,342
Siemens Ltd.
      9,646      149,430
State Bank of India(b)
    238,898      954,247
Sun Pharmaceutical Industries Ltd.
 133,282 948,720
Tata Consultancy Services Ltd.
 124,912 3,222,732
Tata Motors Ltd.(b)
 221,275 926,317
Tata Power Co. Ltd. (The)
 143,127 172,433
Tata Steel Ltd.
 48,833 416,563
Tech Mahindra Ltd.
 63,826 673,752
Titan Co. Ltd.
 44,083 587,991
UltraTech Cement Ltd.
 11,989 665,322
United Spirits Ltd.(b)
 8,246 408,570
UPL Ltd.
 48,454 508,073
Vakrangee Ltd.
 61,938 29,922
Vedanta Ltd.
 206,027 758,071
Wipro Ltd.
 154,459 599,456
Yes Bank Ltd.
 230,197 1,180,961
Zee Entertainment Enterprises Ltd.
 72,338 596,059
    60,011,604
Indonesia — 2.7%
Adaro Energy Tbk PT
 2,112,600 286,596
AKR Corporindo Tbk PT
 286,500 101,445
Astra International Tbk PT
 2,782,200 1,381,589
Bank Central Asia Tbk PT
 1,344,700 2,196,811
Bank Danamon Indonesia Tbk PT
 494,500 207,302
Bank Mandiri Persero Tbk PT
 2,569,700 1,303,806
Bank Negara Indonesia Persero Tbk PT
 1,052,400 641,892
Bank Rakyat Indonesia Persero Tbk PT
 7,615,700 1,688,115
Bank Tabungan Negara Persero Tbk PT
 369,400 81,085
Bumi Serpong Damai Tbk PT
 1,085,400 133,185
Charoen Pokphand Indonesia Tbk PT
 1,010,600 267,651
Gudang Garam Tbk PT
 65,600 323,397
Hanjaya Mandala Sampoerna Tbk PT
 1,299,700 354,506
Indocement Tunggal Prakarsa Tbk PT
 248,600 315,335
Indofood CBP Sukses Makmur Tbk PT
 295,500 185,020
Indofood Sukses Makmur Tbk PT
 598,900 304,946
Jasa Marga Persero Tbk PT
 345,598 110,681
Kalbe Farma Tbk PT
 2,900,600 285,989
Matahari Department Store Tbk PT
 336,300 221,457
Pakuwon Jati Tbk PT
 2,918,800 117,634
Perusahaan Gas Negara Persero Tbk PT
 1,435,000 213,778
Semen Indonesia Persero Tbk PT
 409,000 247,254
Surya Citra Media Tbk PT
 934,600 165,464
Telekomunikasi Indonesia Persero Tbk PT
 6,911,200 1,750,804
Tower Bersama Infrastructure Tbk PT
 339,800 124,108
Unilever Indonesia Tbk PT
 207,500 680,964
United Tractors Tbk PT
 230,200 580,677
Waskita Karya Persero Tbk PT
 809,800 135,210
    14,406,701
Malaysia — 3.0%
AirAsia Group Bhd
 224,100 172,861
Alliance Bank Malaysia Bhd
 132,800 141,475
AMMB Holdings Bhd
 218,700 195,072
Astro Malaysia Holdings Bhd
 206,100 72,497
 Security Shares Value
Malaysia (continued)
Axiata Group Bhd(c)
    372,400 $     407,956
British American Tobacco Malaysia Bhd(c)
     20,400      165,763
CIMB Group Holdings Bhd
    625,700      927,545
Dialog Group Bhd
    437,578      357,319
DiGi.Com Bhd(c)
    447,900      497,417
Felda Global Ventures Holdings Bhd
    237,500       93,687
Gamuda Bhd(c)
    234,300      196,624
Genting Bhd
    310,700      686,194
Genting Malaysia Bhd(c)
 394,600 493,746
Genting Plantations Bhd
 30,700 73,279
HAP Seng Consolidated Bhd
 88,000 216,683
Hartalega Holdings Bhd
 178,600 273,734
Hong Leong Bank Bhd
 91,200 439,501
Hong Leong Financial Group Bhd
 30,100 142,937
IHH Healthcare Bhd(c)
 293,800 442,915
IJM Corp. Bhd
 393,900 167,259
IOI Corp. Bhd
 300,800 349,926
IOI Properties Group Bhd
 242,343 96,206
Kuala Lumpur Kepong Bhd
 63,700 398,525
Malayan Banking Bhd
 522,500 1,268,178
Malaysia Airports Holdings Bhd
 79,600 166,600
Maxis Bhd(c)
 278,600 405,300
MISC Bhd
 176,300 260,020
Nestle Malaysia Bhd(c)
 3,600 133,869
Petronas Chemicals Group Bhd
 341,800 691,329
Petronas Dagangan Bhd
 33,100 208,247
Petronas Gas Bhd
 97,600 431,108
PPB Group Bhd(c)
 61,900 309,811
Press Metal Aluminium Holdings Bhd
 68,900 81,884
Public Bank Bhd
 399,910 2,397,450
RHB Bank Bhd
 110,262 147,939
RHB Bank Bhd, New(b)(d)
 28,800 —
Sime Darby Bhd
 352,200 215,922
Sime Darby Plantation Bhd
 92,700 129,035
Sime Darby Property Bhd
 280,800 81,136
SP Setia Bhd Group
 117,500 90,930
Telekom Malaysia Bhd(c)
 155,300 143,204
Tenaga Nasional Bhd(c)
 463,300 1,676,261
UMW Holdings Bhd(b)(c)
 78,200 125,749
Westports Holdings Bhd
 143,300 124,217
YTL Corp. Bhd(c)
 614,808 146,751
    16,244,061
Pakistan — 0.1%
Habib Bank Ltd.
 68,900 102,046
Lucky Cement Ltd.
 17,800 84,127
MCB Bank Ltd.
 58,600 103,522
Oil & Gas Development Co. Ltd.
 92,600 130,137
United Bank Ltd./Pakistan
 79,200 115,883
    535,715
Philippines — 1.3%
Aboitiz Equity Ventures Inc.
 272,410 299,708
Aboitiz Power Corp.
 197,700 147,893
Alliance Global Group Inc.(b)
 615,500 155,821
Ayala Corp.
 33,780 604,414
Ayala Land Inc.
 1,007,900 763,568
Bank of the Philippine Islands
 117,382 212,262
BDO Unibank Inc.
 273,149 678,512
DMCI Holdings Inc.
 518,000 106,488
Globe Telecom Inc.
 4,515 138,882
 
 
69
  

iShares® MSCI Emerging Markets Asia ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Philippines (continued)
GT Capital Holdings Inc.
     12,640 $     233,381
International Container Terminal Services Inc.
     67,230      108,135
JG Summit Holdings Inc.
    394,956      429,271
Jollibee Foods Corp.
     58,460      304,899
Manila Electric Co.
     23,870      146,667
Megaworld Corp.
  1,506,500      139,365
Metro Pacific Investments Corp.
  1,913,700      169,385
Metropolitan Bank & Trust Co.
    118,568      179,199
PLDT Inc.
 11,705 288,528
Robinsons Land Corp.
 310,090 130,150
Security Bank Corp.
 30,170 111,984
SM Investments Corp.
 32,659 539,597
SM Prime Holdings Inc.
 1,182,850 833,064
Universal Robina Corp.
 119,590 291,375
    7,012,548
South Korea — 19.5%
Amorepacific Corp.
 4,447 1,371,703
AMOREPACIFIC Group
 4,062 474,801
BGF retail Co. Ltd.
 992 167,948
BNK Financial Group Inc.
 37,879 334,883
Celltrion Healthcare Co. Ltd.(b)(c)
 1,020 94,435
Celltrion Inc.(b)(c)
 11,153 2,746,993
Cheil Worldwide Inc.
 10,402 191,066
CJ CheilJedang Corp.
 1,123 365,148
CJ Corp.
 2,100 288,325
CJ E&M Corp.
 2,772 232,982
CJ Logistics Corp.(b)
 1,196 165,872
Coway Co. Ltd.
 7,514 608,537
Daelim Industrial Co. Ltd.
 3,754 292,533
Daewoo Engineering & Construction Co. Ltd.(b)
 22,059 131,992
DB Insurance Co. Ltd.
 6,956 377,500
DGB Financial Group Inc.
 24,722 237,370
Dongsuh Cos. Inc.
 4,982 119,934
Doosan Bobcat Inc.
 4,646 146,110
Doosan Heavy Industries & Construction Co. Ltd.(b)
 7,499 132,873
E-MART Inc.
 2,835 657,498
GS Engineering & Construction Corp.(c)
 7,000 318,521
GS Holdings Corp.
 7,339 396,924
GS Retail Co. Ltd.
 3,696 129,435
Hana Financial Group Inc.
 40,637 1,568,254
Hankook Tire Co. Ltd.
 10,104 401,648
Hanmi Pharm Co. Ltd.
 860 385,343
Hanmi Science Co. Ltd.
 1,662 109,469
Hanon Systems
 25,702 240,818
Hanssem Co. Ltd.
 1,393 146,026
Hanwha Chemical Corp.
 14,281 342,469
Hanwha Corp.
 6,628 221,354
Hanwha Life Insurance Co. Ltd.
 34,035 175,866
Hotel Shilla Co. Ltd.
 4,449 511,783
Hyosung Corp.
 2,771 344,463
Hyundai Department Store Co. Ltd.
 1,909 199,232
Hyundai Development Co. Engineering & Construction
 8,640 371,906
Hyundai Engineering & Construction Co. Ltd.
 10,805 739,746
Hyundai Glovis Co. Ltd.
 2,691 335,767
Hyundai Heavy Industries Co. Ltd.(b)
 4,952 526,002
Hyundai Heavy Industries Holdings Co. Ltd.(b)
 1,380 496,721
Hyundai Marine & Fire Insurance Co. Ltd.
 8,946 282,584
Hyundai Mobis Co. Ltd.
 9,352 1,891,309
Hyundai Motor Co.
 21,182 2,731,386
Hyundai Steel Co.
 11,152 639,356
 Security Shares Value
South Korea (continued)
Industrial Bank of Korea
     35,544 $     514,390
ING Life Insurance Korea Ltd.(a)
      1,934       72,125
Kakao Corp.
      6,213      596,545
Kangwon Land Inc.
     16,319      406,480
KB Financial Group Inc.
     54,533    2,620,538
KCC Corp.
        850      271,650
KEPCO Plant Service & Engineering Co. Ltd.
      3,170      118,954
Kia Motors Corp.
     36,250    1,047,532
Korea Aerospace Industries Ltd.(b)
 9,141 373,119
Korea Electric Power Corp.
 35,387 1,088,250
Korea Gas Corp.(b)
 3,804 212,794
Korea Investment Holdings Co. Ltd.
 5,400 470,393
Korea Zinc Co. Ltd.
 1,205 453,293
Korean Air Lines Co. Ltd.
 6,709 198,852
KT Corp.
 574 14,377
KT&G Corp.
 15,913 1,417,179
Kumho Petrochemical Co. Ltd.
 2,600 253,259
LG Chem Ltd.
 6,295 1,976,768
LG Corp.
 12,994 884,790
LG Display Co. Ltd.
 31,551 649,782
LG Electronics Inc.
 14,619 1,255,828
LG Household & Health Care Ltd.
 1,287 1,603,452
LG Innotek Co. Ltd.
 1,851 247,269
Lotte Chemical Corp.
 2,132 728,830
Lotte Corp.(b)
 3,898 211,905
Lotte Shopping Co. Ltd.
 1,628 338,301
Medy-Tox Inc.
 585 408,976
Mirae Asset Daewoo Co. Ltd.
 49,897 435,115
NAVER Corp.
 3,845 2,386,293
NCSoft Corp.
 2,379 779,059
Netmarble Corp.(a)
 2,470 359,748
NH Investment & Securities Co. Ltd.
 20,532 301,899
OCI Co. Ltd.
 2,384 293,038
Orion Corp./Republic of Korea
 3,123 375,183
Ottogi Corp.
 183 137,511
Pan Ocean Co. Ltd.(b)
 28,476 133,669
POSCO
 10,148 3,196,109
Posco Daewoo Corp.
 4,911 104,329
S-1 Corp.
 2,410 197,638
Samsung Biologics Co. Ltd.(a)(b)(c)
 2,288 923,308
Samsung C&T Corp.
 10,444 1,215,940
Samsung Card Co. Ltd.
 4,658 160,315
Samsung Electro-Mechanics Co. Ltd.
 7,765 965,267
Samsung Electronics Co. Ltd.
 665,724 31,311,477
Samsung Fire & Marine Insurance Co. Ltd.
 4,249 987,406
Samsung Heavy Industries Co. Ltd.(b)
 52,565 365,241
Samsung Life Insurance Co. Ltd.
 9,609 918,157
Samsung SDI Co. Ltd.
 7,545 1,403,379
Samsung SDS Co. Ltd.
 4,833 946,021
Samsung Securities Co. Ltd.
 9,674 331,157
Shinhan Financial Group Co. Ltd.
 58,672 2,381,279
Shinsegae Inc.
 1,031 419,879
SillaJen Inc.(b)
 895 66,838
SK Holdings Co. Ltd.
 4,325 1,111,392
SK Hynix Inc.
 79,758 6,910,708
SK Innovation Co. Ltd.
 8,896 1,700,057
SK Telecom Co. Ltd.
 2,801 576,856
S-Oil Corp.
 6,135 611,821
Woori Bank
 53,418 758,194
 
 
  
70

iShares® MSCI Emerging Markets Asia ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Korea (continued)
Yuhan Corp.
      1,169 $     258,103
    104,102,902
Taiwan — 15.0%
Acer Inc.
    432,062      354,025
Advantech Co. Ltd.
     49,282      333,903
Airtac International Group
      5,000       85,944
ASE Industrial Holding Co. Ltd.
    458,484    1,162,985
Asia Cement Corp.
    323,229      356,548
Asustek Computer Inc.
 96,000 869,916
AU Optronics Corp.
 1,182,000 518,776
Catcher Technology Co. Ltd.
 89,000 1,035,212
Cathay Financial Holding Co. Ltd.
 1,121,944 2,007,116
Chailease Holding Co. Ltd.
 161,496 576,743
Chang Hwa Commercial Bank Ltd.
 633,294 370,953
Cheng Shin Rubber Industry Co. Ltd.
 283,776 431,894
Chicony Electronics Co. Ltd.
 80,173 189,451
China Airlines Ltd.(b)
 370,000 125,344
China Development Financial Holding Corp.
 1,801,200 676,318
China Life Insurance Co. Ltd./Taiwan
 339,640 356,513
China Steel Corp.
 1,708,867 1,346,036
Chunghwa Telecom Co. Ltd.
 526,000 1,913,589
Compal Electronics Inc.
 585,000 384,644
CTBC Financial Holding Co. Ltd.
 2,401,265 1,731,132
Delta Electronics Inc.
 268,000 992,874
E.Sun Financial Holding Co. Ltd.
 1,252,766 873,882
Eclat Textile Co. Ltd.
 25,604 312,770
Eva Airways Corp.
 314,628 159,091
Evergreen Marine Corp. Taiwan Ltd.(b)
 318,437 157,829
Far Eastern New Century Corp.
 439,460 418,757
Far EasTone Telecommunications Co. Ltd.
 223,000 568,636
Feng TAY Enterprise Co. Ltd.
 49,064 217,797
First Financial Holding Co. Ltd.
 1,242,817 844,128
Formosa Chemicals & Fibre Corp.
 400,950 1,538,950
Formosa Petrochemical Corp.
 185,000 750,213
Formosa Plastics Corp.
 565,400 2,028,620
Formosa Taffeta Co. Ltd.
 107,000 119,101
Foxconn Technology Co. Ltd.
 123,521 304,252
Fubon Financial Holding Co. Ltd.
 906,396 1,576,130
General Interface Solution Holding Ltd.
 25,000 159,788
Giant Manufacturing Co. Ltd.
 45,000 195,251
Globalwafers Co. Ltd.
 30,000 593,762
Highwealth Construction Corp.
 123,840 187,652
Hiwin Technologies Corp.
 30,540 433,206
Hon Hai Precision Industry Co. Ltd.
 2,130,314 6,093,417
Hotai Motor Co. Ltd.
 37,000 337,750
HTC Corp.(b)
 94,000 183,849
Hua Nan Financial Holdings Co. Ltd.
 972,011 580,712
Innolux Corp.
 1,229,620 476,064
Inventec Corp.
 350,980 284,073
Largan Precision Co. Ltd.
 14,000 1,915,792
Lite-On Technology Corp.
 281,032 366,749
Macronix International(b)
 55,000 90,867
MediaTek Inc.
 206,176 2,143,545
Mega Financial Holding Co. Ltd.
 1,497,542 1,312,033
Micro-Star International Co. Ltd.
 95,000 396,342
Nan Ya Plastics Corp.
 642,090 1,793,733
Nanya Technology Corp.
 97,000 322,454
Nien Made Enterprise Co. Ltd.
 22,000 174,390
Novatek Microelectronics Corp.
 83,000 375,365
Pegatron Corp.
 269,000 568,319
 Security Shares Value
Taiwan (continued)
Phison Electronics Corp.
     22,000 $     202,293
Pou Chen Corp.
    301,000      368,697
Powertech Technology Inc.
    103,000      307,334
President Chain Store Corp.
     78,000      799,226
Quanta Computer Inc.
    373,000      659,813
Realtek Semiconductor Corp.
     66,140      252,759
Ruentex Development Co. Ltd.(b)
    134,065      161,756
Ruentex Industries Ltd.
     79,855      163,380
Shin Kong Financial Holding Co. Ltd.
 1,142,138 457,442
SinoPac Financial Holdings Co. Ltd.
 1,398,529 518,121
Standard Foods Corp.
 90,987 185,852
Synnex Technology International Corp.
 197,050 315,685
TaiMed Biologics Inc.(b)
 25,000 262,837
Taishin Financial Holding Co. Ltd.
 1,297,305 638,661
Taiwan Business Bank
 429,768 131,248
Taiwan Cement Corp.
 488,000 710,138
Taiwan Cooperative Financial Holding Co. Ltd.
 1,131,948 666,819
Taiwan High Speed Rail Corp.
 238,000 183,893
Taiwan Mobile Co. Ltd.
 223,000 818,717
Taiwan Semiconductor Manufacturing Co. Ltd.
 3,070,000 22,952,122
Teco Electric and Machinery Co. Ltd.
 253,000 203,927
Uni-President Enterprises Corp.
 663,650 1,619,172
United Microelectronics Corp.
 1,659,000 921,928
Vanguard International Semiconductor Corp.
 129,000 282,442
Win Semiconductors Corp.
 9,000 73,144
Winbond Electronics Corp.
 129,000 86,326
Wistron Corp.
 343,119 258,243
WPG Holdings Ltd.
 218,000 316,506
Yageo Corp.
 7,000 222,185
Yuanta Financial Holding Co. Ltd.
 1,395,893 656,913
Zhen Ding Technology Holding Ltd.
 66,455 150,160
    80,222,924
Thailand — 3.1%
Advanced Info Service PCL, NVDR
 140,800 838,462
Airports of Thailand PCL, NVDR
 596,100 1,276,425
Bangkok Bank PCL
 36,900 222,623
Bangkok Dusit Medical Services PCL, NVDR
 537,800 449,708
Bangkok Expressway & Metro PCL, NVDR(c)
 1,108,800 284,219
Banpu PCL, NVDR
 292,600 192,079
Berli Jucker PCL, NVDR(c)
 162,500 289,544
BTS Group Holdings PCL, NVDR
 816,900 247,700
Bumrungrad Hospital PCL, NVDR
 48,300 290,645
Central Pattana PCL, NVDR
 190,500 454,068
Charoen Pokphand Foods PCL, NVDR
 430,300 336,277
CP ALL PCL, NVDR
 681,500 1,720,260
Delta Electronics Thailand PCL, NVDR
 69,400 139,928
Electricity Generating PCL, NVDR
 18,900 142,385
Energy Absolute PCL, NVDR(c)
 168,300 203,864
Glow Energy PCL, NVDR
 69,200 183,870
Home Product Center PCL, NVDR
 553,345 252,543
Indorama Ventures PCL, NVDR
 205,900 374,919
IRPC PCL, NVDR
 1,434,900 296,041
Kasikornbank PCL
 159,800 974,086
Kasikornbank PCL, NVDR
 63,300 378,929
Krung Thai Bank PCL, NVDR
 495,550 271,089
Minor International PCL, NVDR
 292,680 297,346
PTT Exploration & Production PCL, NVDR
 191,210 803,931
PTT Global Chemical PCL, NVDR
 306,900 856,231
PTT PCL, NVDR
 1,447,900 2,364,888
Robinson PCL, NVDR
 78,300 154,201
 
 
71
  

iShares® MSCI Emerging Markets Asia ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Thailand (continued)
Siam Cement PCL (The), NVDR
     15,200 $     211,916
Siam Commercial Bank PCL (The), NVDR
    243,600    1,012,779
Thai Oil PCL, NVDR
    119,000      342,232
Thai Union Group PCL, NVDR
    291,000      157,371
TMB Bank PCL, NVDR
  1,706,500      132,295
True Corp. PCL, NVDR
  1,398,505     312,576
    16,465,430
Total Common Stocks — 98.4%

(Cost: $436,175,342)
 526,628,596
Preferred Stocks
South Korea — 1.1%
Amorepacific Corp., Preference Shares, NVS
 1,184 178,487
Hyundai Motor Co.    
Preference Shares, NVS
 3,214 266,554
Series 2, Preference Shares, NVS
 5,247 459,986
LG Chem Ltd., Preference Shares, NVS
 1,056 192,499
LG Household & Health Care Ltd., Preference Shares, NVS
 303 206,038
Samsung Electronics Co. Ltd., Preference Shares, NVS
 120,997 4,546,016
    5,849,580
Total Preferred Stocks — 1.1%

(Cost: $4,211,511)
 5,849,580
 Security Shares Value
Short-Term Investments
Money Market Funds — 2.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(e)(f)(g)
 10,388,874 $  10,390,952
Total Short-Term Investments — 2.0%

(Cost: $10,388,881)
 10,390,952
Total Investments in Securities — 101.5%

(Cost: $450,775,734)
 542,869,128
Other Assets, Less Liabilities — (1.5)%
 (7,942,372)
Net Assets — 100.0%
 $ 534,926,756
    
(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b) Non-income producing security.
(c) All or a portion of this security is on loan.
(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(e) Affiliate of the Fund.
(f) Annualized 7-day yield as of period-end.
(g) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 9,807,306 581,568 10,388,874 $10,390,952   $177,545 (a)   $ (2,441)   $ 800
BlackRock Cash Funds: Treasury, SL Agency Shares
 768,227 (768,227) — —   11,652   —   —
        $10,390,952   $189,197   $ (2,441)   $ 800
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Consolidated Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $525,641,039   $    716,369   $    271,188   $526,628,596
Preferred Stocks
   5,849,580            —            —      5,849,580
Money Market Funds
  10,390,952            —            —    10,390,952
  $541,881,571   $    716,369   $    271,188   $542,869,128
  
72

iShares® MSCI Emerging Markets Asia ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
73
  

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Brazil — 3.9%
Ambev SA
     32,450,215 $    171,572,544
Atacadao Distribuicao Comercio e Industria Ltda
      2,756,400      11,805,583
B3 SA - Brasil, Bolsa, Balcao
     14,289,401      83,532,783
Banco Bradesco SA
      7,039,791      49,300,560
Banco do Brasil SA
      5,920,774      48,284,504
Banco Santander Brasil SA, NVS
      2,862,300      25,963,264
BB Seguridade Participacoes SA
      4,819,900      33,728,493
BR Malls Participacoes SA
 5,822,288 16,103,319
BRF SA(a)
 3,206,985 18,445,944
CCR SA
 8,414,500 23,272,875
Centrais Eletricas Brasileiras SA(a)
 1,430,900 5,621,317
Cia. de Saneamento Basico do Estado de Sao Paulo
 2,379,624 16,709,541
Cia. Siderurgica Nacional SA(a)
 4,370,028 9,035,651
Cielo SA
 8,464,176 38,524,666
Cosan SA Industria e Comercio
 1,134,300 11,818,005
EDP - Energias do Brasil SA
 2,176,300 7,725,644
Embraer SA
 4,661,700 28,152,585
Engie Brasil Energia SA
 1,156,700 11,489,194
Equatorial Energia SA
 1,409,800 23,013,048
Fibria Celulose SA
 1,733,561 32,948,389
Hypera SA
 2,413,100 18,272,961
IRB Brasil Resseguros S/A
 649,100 8,404,721
JBS SA
 5,904,665 14,158,956
Klabin SA, NVS
 4,788,900 26,991,853
Kroton Educacional SA
 9,647,280 28,003,678
Localiza Rent a Car SA
 3,503,989 23,268,659
Lojas Renner SA
 4,956,790 39,491,403
M. Dias Branco SA
 713,200 8,043,501
Magazine Luiza SA
 527,900 15,368,998
Multiplan Empreendimentos Imobiliarios SA
 613,803 9,670,069
Natura Cosmeticos SA
 1,248,400 11,303,835
Odontoprev SA
 1,909,100 7,156,466
Petrobras Distribuidora SA
 2,281,000 11,147,595
Petroleo Brasileiro SA
 20,662,874 123,121,111
Porto Seguro SA
 720,400 8,223,360
Raia Drogasil SA
 1,603,000 26,803,832
Rumo SA(a)
 7,596,800 28,171,428
Sul America SA, NVS
 1,423,236 7,482,972
Suzano Papel e Celulose SA
 3,071,600 35,548,921
TIM Participacoes SA
 5,928,676 21,348,678
Ultrapar Participacoes SA
 2,499,700 33,561,580
Vale SA
 21,947,809 298,389,541
WEG SA
 5,289,206 24,400,467
    1,495,382,494
Chile — 1.0%
Aguas Andinas SA, Class A
 19,155,816 11,112,627
Banco de Chile
 173,256,690 26,866,287
Banco de Credito e Inversiones SA
 280,109 19,702,284
Banco Santander Chile
 457,265,257 36,665,773
Cencosud SA
 9,799,713 25,961,292
Cia. Cervecerias Unidas SA
 1,024,337 13,028,790
Colbun SA
 56,918,903 12,824,358
Empresa Nacional de Telecomunicaciones SA
 1,048,954 11,208,504
Empresas CMPC SA
 8,874,467 33,577,887
Empresas COPEC SA
 2,582,599 39,383,853
Enel Americas SA
 200,336,340 38,705,717
Enel Chile SA
 203,206,522 21,936,711
 Security Shares Value
Chile (continued)
Itau CorpBanca
  1,087,151,297 $     11,200,843
Latam Airlines Group SA
      2,110,105      25,411,856
SACI Falabella
      4,998,998     46,742,469
    374,329,251
China — 33.1%
3SBio Inc.(a)(b)(c)
      7,942,000      22,730,047
51job Inc., ADR(a)
        171,539      18,251,750
58.com Inc., ADR(a)
        642,737      52,203,099
AAC Technologies Holdings Inc.
 5,095,500 76,716,859
Agile Group Holdings Ltd.(c)
 11,042,000 21,058,792
Agricultural Bank of China Ltd., Class A
 7,603,600 4,261,515
Agricultural Bank of China Ltd., Class H
 196,652,000 101,783,765
Air China Ltd., Class H
 13,172,000 15,264,048
Alibaba Group Holding Ltd., ADR(a)(c)
 7,996,663 1,583,419,241
Alibaba Health Information Technology Ltd.(a)(c)
 23,442,000 21,487,093
Alibaba Pictures Group Ltd.(a)(c)
 90,680,000 11,791,411
Aluminum Corp. of China Ltd., Class H(a)(c)
 27,994,000 14,739,037
Angang Steel Co. Ltd., Class A
 2,623,301 2,481,825
Angang Steel Co. Ltd., Class H
 4,632,000 4,594,119
Anhui Conch Cement Co. Ltd., Class H
 8,824,500 54,111,465
ANTA Sports Products Ltd.
 7,523,402 43,351,768
Autohome Inc., ADR(c)
 409,477 46,156,247
AviChina Industry & Technology Co. Ltd., Class H
 15,206,000 10,157,817
BAIC Motor Corp. Ltd., Class H(b)
 11,929,500 11,588,609
Baidu Inc., ADR(a)
 1,910,502 463,411,365
Bank of Beijing Co. Ltd., Class A
 3,155,727 3,261,428
Bank of China Ltd., Class H
 554,119,000 289,628,309
Bank of Communications Co. Ltd., Class A
 2,709,600 2,546,549
Bank of Communications Co. Ltd., Class H
 55,812,600 44,185,316
Bank of Shanghai Co. Ltd., Class A
 1,018,761 2,476,346
Baoshan Iron & Steel Co. Ltd., Class A
 1,405,874 1,848,029
BBMG Corp., Class H
 15,543,000 6,816,280
Beijing Capital International Airport Co. Ltd., Class H
 11,678,000 17,269,532
Beijing Enterprises Holdings Ltd.
 3,633,000 20,077,453
Beijing Enterprises Water Group Ltd.(c)
 38,912,000 23,463,825
BOC Aviation Ltd.(b)
 1,392,800 8,647,127
BOE Technology Group Co. Ltd., Class A
 2,784,700 1,791,125
Brilliance China Automotive Holdings Ltd.(c)
 21,112,000 39,456,400
BYD Co. Ltd., Class H(c)
 4,522,500 29,346,105
BYD Electronic International Co. Ltd.(c)
 4,785,500 7,601,503
CAR Inc.(a)
 4,382,000 4,904,797
CGN Power Co. Ltd., Class H(b)
 75,712,000 21,524,035
China Agri-Industries Holdings Ltd.
 11,949,000 5,072,592
China Cinda Asset Management Co. Ltd., Class H
 64,115,000 23,213,044
China CITIC Bank Corp. Ltd., Class H
 63,108,800 42,881,626
China Coal Energy Co. Ltd., Class H
 11,875,000 5,222,841
China Communications Construction Co. Ltd., Class H
 31,555,000 33,871,497
China Communications Services Corp. Ltd., Class H
 17,350,000 11,169,789
China Conch Venture Holdings Ltd.
 11,506,000 39,897,656
China Construction Bank Corp., Class A
 1,838,400 2,043,480
China Construction Bank Corp., Class H
 663,137,760 669,550,054
China Eastern Airlines Corp. Ltd., Class A
 3,428,020 3,938,869
China Eastern Airlines Corp. Ltd., Class H
 5,118,000 4,071,355
China Everbright Bank Co. Ltd., Class H
 13,977,000 6,966,984
China Everbright International Ltd.(c)
 17,830,000 26,639,929
China Everbright Ltd.
 6,684,000 14,690,204
China Evergrande Group(a)(c)
 18,253,388 53,521,149
 
 
  
74

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
China First Capital Group Ltd.(a)
     22,020,000 $     22,064,494
China Galaxy Securities Co. Ltd., Class H
     24,004,500      15,025,477
China Gas Holdings Ltd.
     12,144,600      50,395,101
China Huarong Asset Management Co. Ltd., Class H(b)
     70,163,000      23,613,817
China Huishan Dairy Holdings Co. Ltd.(a)(d)
      8,317,264              11
China International Capital Corp. Ltd., Class H(b)
      6,832,000      14,405,803
China International Marine Containers Group Co. Ltd., Class A
      1,040,100       2,588,295
China International Marine Containers Group Co. Ltd., Class H
      1,753,800       2,741,099
China International Travel Service Corp. Ltd., Class A
 70,600 745,629
China Jinmao Holdings Group Ltd.
 36,688,000 20,953,480
China Life Insurance Co. Ltd., Class H
 51,863,000 144,795,765
China Literature Ltd.(a)(b)
 1,217,800 11,372,022
China Lodging Group Ltd., ADR
 920,904 40,528,985
China Longyuan Power Group Corp. Ltd., Class H
 22,542,000 20,805,834
China Medical System Holdings Ltd.
 9,682,000 23,328,187
China Mengniu Dairy Co. Ltd.
 19,258,000 69,969,723
China Merchants Bank Co. Ltd., Class A
 1,278,891 5,746,120
China Merchants Bank Co. Ltd., Class H
 27,031,467 111,307,966
China Merchants Port Holdings Co. Ltd.
 9,392,000 21,432,125
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A
 618,983 2,047,670
China Minsheng Banking Corp. Ltd., Class A
 6,417,961 7,674,961
China Minsheng Banking Corp. Ltd., Class H
 39,192,040 37,372,623
China Mobile Ltd.
 42,593,500 380,097,907
China Molybdenum Co. Ltd., Class H
 27,111,000 17,177,345
China National Building Material Co. Ltd., Class H
 27,780,000 31,802,604
China Oilfield Services Ltd., Class H
 13,210,000 13,809,272
China Overseas Land & Investment Ltd.
 26,980,960 90,290,242
China Pacific Insurance Group Co. Ltd., Class H
 18,915,200 81,745,668
China Petroleum & Chemical Corp., Class A
 2,579,777 2,839,368
China Petroleum & Chemical Corp., Class H
 176,696,800 172,773,909
China Power International Development Ltd.
 24,872,000 6,912,280
China Railway Construction Corp. Ltd., Class H
 14,087,000 15,965,201
China Railway Group Ltd., Class H
 28,103,000 22,678,300
China Railway Signal & Communication Corp. Ltd., Class H(b)
 9,000,000 7,033,267
China Reinsurance Group Corp., Class H
 27,293,000 6,123,758
China Resources Beer Holdings Co. Ltd.
 10,332,000 50,183,793
China Resources Cement Holdings Ltd.
 12,908,000 15,204,951
China Resources Gas Group Ltd.(c)
 6,362,000 24,169,298
China Resources Land Ltd.
 19,415,333 71,283,898
China Resources Pharmaceutical Group Ltd.(b)(c)
 12,057,500 18,507,078
China Resources Power Holdings Co. Ltd.
 12,368,999 25,324,111
China Shenhua Energy Co. Ltd., Class H
 23,729,000 62,013,666
China Southern Airlines Co. Ltd., Class H
 13,356,000 13,212,720
China State Construction Engineering Corp. Ltd., Class A
 2,409,200 3,095,445
China State Construction International Holdings Ltd.
 14,492,000 17,902,192
China Taiping Insurance Holdings Co. Ltd.
 11,323,260 40,635,348
China Telecom Corp. Ltd., Class H
 97,872,000 45,666,072
China Traditional Chinese Medicine Holdings Co. Ltd.
 15,374,000 14,111,510
China Travel International Investment Hong Kong Ltd.
 12,860,000 5,705,245
China Unicom Hong Kong Ltd.
 42,752,000 58,098,879
 Security Shares Value
China (continued)
China Vanke Co. Ltd., Class A
        647,400 $      2,586,386
China Vanke Co. Ltd., Class H
      8,560,531      30,611,716
China Yangtze Power Co. Ltd., Class A
      1,519,295       4,058,284
China Zhongwang Holdings Ltd.
      9,414,800       5,100,986
Chong Sing Holdings FinTech Group Ltd.(a)
    104,468,000      13,850,668
Chongqing Changan Automobile Co. Ltd., Class B
      3,487,200       3,818,775
Chongqing Rural Commercial Bank Co. Ltd., Class H
     18,276,000      12,208,619
CIFI Holdings Group Co. Ltd.
     23,060,000      17,844,406
CITIC Ltd.
 41,282,000 61,363,962
CITIC Securities Co. Ltd., Class H
 15,002,000 37,829,409
CNOOC Ltd.
 124,244,000 209,075,655
COSCO SHIPPING Development Co. Ltd., Class H(a)
 2,467,000 468,608
COSCO SHIPPING Energy Transportation Co. Ltd., Class H
 4,826,000 2,731,646
COSCO SHIPPING Holdings Co. Ltd., Class A(a)
 2,702,399 2,581,970
COSCO SHIPPING Holdings Co. Ltd., Class H(a)
 13,458,000 7,566,120
COSCO SHIPPING Ports Ltd.(c)
 11,974,000 11,524,984
Country Garden Holdings Co. Ltd.
 52,851,939 103,626,629
CRRC Corp. Ltd., Class A
 1,988,500 2,843,619
CRRC Corp. Ltd., Class H
 29,019,300 25,933,376
CSPC Pharmaceutical Group Ltd.
 32,642,000 102,160,349
Ctrip.com International Ltd., ADR(a)(c)
 2,724,447 122,845,315
Dali Foods Group Co. Ltd.(b)
 12,869,500 9,925,929
Daqin Railway Co. Ltd., Class A
 1,756,067 2,302,877
Datang International Power Generation Co. Ltd., Class H(a)
 17,804,000 5,742,384
Dongfeng Motor Group Co. Ltd., Class H
 19,332,000 22,057,380
ENN Energy Holdings Ltd.
 5,351,000 55,084,777
Fang Holdings Ltd., ADR(a)
 1,387,054 7,032,364
Far East Horizon Ltd.
 14,430,000 15,323,764
Focus Media Information Technology Co. Ltd., Class A
 915,797 1,785,714
Foshan Haitian Flavouring & Food Co. Ltd., Class A
 257,700 3,014,939
Fosun International Ltd.
 18,116,000 39,815,638
Fullshare Holdings Ltd.(c)
 48,425,000 22,841,544
Future Land Development Holdings Ltd.
 12,198,000 9,563,522
Fuyao Glass Industry Group Co. Ltd., Class H(b)
 3,615,200 13,388,520
GCL-Poly Energy Holdings Ltd.(a)(c)
 93,095,000 10,206,549
GDS Holdings Ltd., ADR(a)
 410,674 15,527,584
Geely Automobile Holdings Ltd.
 34,218,000 97,059,656
Genscript Biotech Corp.
 5,480,000 20,469,267
GF Securities Co. Ltd., Class H
 9,928,000 16,757,293
GOME Retail Holdings Ltd.(a)(c)
 82,616,200 9,268,341
Great Wall Motor Co. Ltd., Class H(c)
 21,708,000 21,170,707
Gree Electric Appliances Inc. of Zhuhai, Class A
 267,600 1,984,404
Greentown China Holdings Ltd.
 5,004,000 7,527,546
Guangdong Investment Ltd.
 21,046,110 35,469,691
Guangzhou Automobile Group Co. Ltd., Class H
 14,752,742 25,013,732
Guangzhou R&F Properties Co. Ltd., Class H
 6,888,800 16,159,038
Guotai Junan Securities Co. Ltd., Class A(a)
 2,492,900 6,534,403
Guotai Junan Securities Co. Ltd., Class H(a)(b)
 1,549,000 3,601,889
Haier Electronics Group Co. Ltd.
 8,976,000 32,269,041
Haitian International Holdings Ltd.
 4,683,000 13,283,370
Haitong Securities Co. Ltd., Class H
 23,315,600 29,188,528
Hangzhou Hikvision Digital Technology Co. Ltd., Class A
 747,596 4,569,294
Hengan International Group Co. Ltd.(c)
 5,070,000 48,281,713
 
 
75
  

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
HengTen Networks Group Ltd.(a)
    143,328,000 $      5,755,668
Huadian Power International Corp. Ltd., Class H
      8,712,000       4,009,398
Huaneng Power International Inc., Class H
     30,386,000      23,474,712
Huaneng Renewables Corp. Ltd., Class H
     34,252,000      14,715,328
Huatai Securities Co. Ltd., Class H(b)
     11,790,000      23,236,858
Industrial & Commercial Bank of China Ltd., Class A
      3,512,504       3,103,728
Industrial & Commercial Bank of China Ltd., Class H
    480,264,085     397,967,473
Industrial Bank Co. Ltd., Class A
      1,879,400       4,673,964
Inner Mongolia Yili Industrial Group Co. Ltd., Class A
 546,989 2,649,786
Inner Mongolia Yitai Coal Co. Ltd., Class B
 3,000,000 4,011,000
JD.com Inc., ADR(a)(c)
 4,997,537 175,813,352
Jiangsu Expressway Co. Ltd., Class H
 8,844,000 13,349,179
Jiangsu Hengrui Medicine Co. Ltd., Class A
 314,594 3,739,010
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A
 111,187 2,494,024
Jiangxi Copper Co. Ltd., Class H
 9,030,000 13,123,410
Jiayuan International Group Ltd.(a)
 6,702,000 12,850,096
Kaisa Group Holdings Ltd.(a)
 12,674,000 6,882,994
Kangmei Pharmaceutical Co. Ltd., Class A
 627,388 2,621,034
Kingboard Chemical Holdings Ltd.
 4,817,000 19,159,552
Kingboard Laminates Holdings Ltd.
 7,192,500 9,536,024
Kingdee International Software Group Co. Ltd.
 13,578,000 14,903,664
Kingsoft Corp. Ltd.(c)
 5,688,000 17,946,878
Kunlun Energy Co. Ltd.
 23,112,000 21,037,293
Kweichow Moutai Co. Ltd., Class A
 73,536 8,623,141
KWG Property Holdings Ltd.
 8,560,500 11,808,113
Lee & Man Paper Manufacturing Ltd.
 11,148,000 13,074,916
Legend Holdings Corp., Class H(b)
 2,152,800 6,861,164
Lenovo Group Ltd.(c)
 51,730,000 27,434,050
Logan Property Holdings Co. Ltd.
 9,242,000 13,902,794
Longfor Properties Co. Ltd.
 10,547,500 31,598,867
Luye Pharma Group Ltd.
 7,773,500 8,532,452
Meitu Inc.(a)(b)
 11,847,500 12,551,102
Metallurgical Corp. of China Ltd., Class A
 5,239,399 3,010,091
Metallurgical Corp. of China Ltd., Class H
 10,433,000 3,125,584
Midea Group Co. Ltd., Class A
 517,400 4,273,803
MMG Ltd.(a)
 16,352,000 11,882,282
Momo Inc., ADR(a)
 808,635 37,132,519
NetEase Inc., ADR
 548,647 125,267,083
New China Life Insurance Co. Ltd., Class H
 5,891,500 26,738,066
New Oriental Education & Technology Group Inc., ADR
 985,817 98,059,217
Nexteer Automotive Group Ltd.(c)
 6,192,000 10,214,552
Nine Dragons Paper Holdings Ltd.
 11,538,000 18,356,895
Noah Holdings Ltd., ADR(a)
 195,925 11,731,989
People's Insurance Co. Group of China Ltd. (The), Class H
 50,450,000 23,861,030
PetroChina Co. Ltd., Class H
 147,930,000 122,392,573
PICC Property & Casualty Co. Ltd., Class H
 32,298,128 56,903,569
Ping An Bank Co. Ltd., Class A
 1,295,100 2,058,266
Ping An Insurance Group Co. of China Ltd., Class A
 702,400 6,812,966
Ping An Insurance Group Co. of China Ltd., Class H
 35,982,500 352,753,868
Poly Real Estate Group Co. Ltd., Class A
 914,173 1,761,140
Postal Savings Bank of China Co. Ltd., Class H(b)
 17,823,000 11,928,730
Qingdao Haier Co. Ltd., Class A
 723,796 2,271,238
 Security Shares Value
China (continued)
SAIC Motor Corp. Ltd., Class A
        633,394 $      3,584,531
Semiconductor Manufacturing International Corp.(a)(c)
     20,704,999      27,081,747
Shandong Weigao Group Medical Polymer Co. Ltd., Class H
     13,508,000      11,623,822
Shanghai Electric Group Co. Ltd., Class H(a)
     20,612,000       7,883,072
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H
      3,481,000      22,299,452
Shanghai Industrial Holdings Ltd.
      3,594,000       9,552,966
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B
      7,191,326      10,715,076
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
      5,989,100      18,515,158
Shanghai Pudong Development Bank Co. Ltd., Class A
 2,372,785 3,908,060
Shenzhen International Holdings Ltd.
 5,670,500 12,404,885
Shenzhen Investment Ltd.
 15,512,000 6,585,157
Shenzhou International Group Holdings Ltd.
 5,325,000 62,318,416
Shimao Property Holdings Ltd.
 8,411,500 24,878,005
Shui On Land Ltd.
 22,474,500 6,303,283
Sihuan Pharmaceutical Holdings Group Ltd.
 27,163,000 7,029,556
SINA Corp./China(a)
 445,840 40,491,189
Sino Biopharmaceutical Ltd.
 31,071,000 78,587,054
Sino-Ocean Group Holding Ltd.
 21,817,500 14,741,272
Sinopec Engineering Group Co. Ltd., Class H
 7,704,000 8,279,383
Sinopec Shanghai Petrochemical Co. Ltd., Class H
 25,269,000 18,651,799
Sinopharm Group Co. Ltd., Class H
 8,352,400 37,108,054
Sinotrans Ltd., Class H
 11,887,000 6,743,516
Sinotruk Hong Kong Ltd.
 4,580,000 6,481,008
Skyworth Digital Holdings Ltd.
 10,814,000 5,142,204
SOHO China Ltd.
 15,595,000 8,151,234
SSY Group Ltd.
 9,762,000 10,441,307
Sun Art Retail Group Ltd.
 16,853,000 19,851,956
Sunac China Holdings Ltd.(c)
 16,800,000 63,930,445
Suning.com Co. Ltd., Class A
 1,242,798 3,156,737
Sunny Optical Technology Group Co. Ltd.
 4,945,300 100,618,917
TAL Education Group, Class A, ADR(a)
 2,292,742 97,349,825
Tencent Holdings Ltd.
 39,420,700 2,006,175,741
Tingyi Cayman Islands Holding Corp.(c)
 13,974,000 31,282,349
Tong Ren Tang Technologies Co. Ltd., Class H
 3,194,000 5,553,968
Towngas China Co. Ltd.
 5,538,000 5,436,230
TravelSky Technology Ltd., Class H
 6,714,000 19,643,467
Tsingtao Brewery Co. Ltd., Class H
 2,648,000 16,777,548
Uni-President China Holdings Ltd.
 8,288,000 8,928,131
Vipshop Holdings Ltd., ADR(a)
 2,912,808 34,021,597
Want Want China Holdings Ltd.(c)
 35,381,000 35,091,652
Weibo Corp., ADR(a)(c)
 322,818 32,898,382
Weichai Power Co. Ltd., Class H
 13,932,800 18,685,652
Wuliangye Yibin Co. Ltd., Class A
 269,995 3,329,072
Wuxi Biologics Cayman Inc.(a)(b)
 3,267,000 36,630,183
Xinjiang Goldwind Science & Technology Co. Ltd., Class A
 1,320,689 3,327,779
Xinjiang Goldwind Science & Technology Co. Ltd., Class H
 2,930,600 4,692,457
Xinyi Solar Holdings Ltd.
 19,450,000 8,058,553
Yanzhou Coal Mining Co. Ltd., Class H
 13,098,800 18,903,057
Yuexiu Property Co. Ltd.
 41,330,000 9,325,944
Yum China Holdings Inc.
 2,546,641 100,082,991
Yunnan Baiyao Group Co. Ltd., Class A
 123,900 2,207,025
 
 
  
76

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
Yuzhou Properties Co. Ltd.
     10,998,000 $      7,739,393
YY Inc., ADR(a)
        313,998      36,590,187
Zhaojin Mining Industry Co. Ltd., Class H
      5,246,000       4,380,500
Zhejiang Expressway Co. Ltd., Class H
     10,340,000      10,347,711
ZhongAn Online P&C Insurance Co. Ltd., Class H(a)(b)
      1,042,200       6,935,467
Zhongsheng Group Holdings Ltd.
      3,776,000      12,106,653
Zhuzhou CRRC Times Electric Co. Ltd., Class H
      3,894,300      19,610,136
Zijin Mining Group Co. Ltd., Class H
     41,594,000      17,339,339
ZTE Corp., Class H(a)(d)
 5,607,400 13,582,173
    12,559,355,402
Colombia — 0.3%
Bancolombia SA
 1,574,607 18,057,789
Cementos Argos SA
 3,269,120 10,414,076
Ecopetrol SA
 34,451,254 36,860,869
Grupo Argos SA/Colombia
 2,142,054 14,403,953
Grupo de Inversiones Suramericana SA
 1,826,449 23,475,647
Interconexion Electrica SA ESP
 2,801,114 13,733,970
    116,946,304
Czech Republic — 0.2%
CEZ AS
 1,135,694 28,370,142
Komercni Banka AS
 513,973 20,798,462
Moneta Money Bank AS(b)
 3,397,394 11,858,537
O2 Czech Republic AS
 442,028 5,595,974
    66,623,115
Egypt — 0.1%
Commercial International Bank Egypt SAE
 6,946,358 32,699,704
Eastern Tobacco
 913,844 9,024,560
EISewedy Electric Co.
 446,909 5,229,797
Global Telecom Holding SAE(a)
 15,405,771 4,192,574
    51,146,635
Greece — 0.3%
Alpha Bank AE(a)
 9,870,252 21,095,944
Eurobank Ergasias SA(a)
 13,224,919 13,893,700
FF Group(a)
 246,892 1,383,346
Hellenic Telecommunications Organization SA
 1,716,551 20,538,228
JUMBO SA
 748,486 12,004,741
National Bank of Greece SA(a)
 38,970,592 12,255,103
OPAP SA
 1,615,265 17,346,585
Piraeus Bank SA(a)(c)
 2,016,529 5,964,767
Titan Cement Co. SA
 335,712 8,229,407
    112,711,821
Hungary — 0.3%
MOL Hungarian Oil & Gas PLC
 2,561,525 24,112,472
OTP Bank Nyrt
 1,550,074 55,467,517
Richter Gedeon Nyrt
 970,443 18,957,629
    98,537,618
India — 8.3%
Adani Ports & Special Economic Zone Ltd.
 3,712,215 21,572,187
Ambuja Cements Ltd.
 4,195,308 12,769,477
Ashok Leyland Ltd.
 8,191,572 17,971,507
Asian Paints Ltd.
 2,004,070 38,745,007
Aurobindo Pharma Ltd.
 1,841,681 15,182,116
Avenue Supermarts Ltd.(a)(b)
 821,292 19,133,764
Axis Bank Ltd.
 12,440,812 100,640,007
Bajaj Auto Ltd.
 580,780 23,670,125
Bajaj Finance Ltd.
 1,208,113 37,772,721
Bajaj Finserv Ltd.
 266,585 23,869,495
 Security Shares Value
India (continued)
Bharat Forge Ltd.
      1,475,721 $     14,229,640
Bharat Heavy Electricals Ltd.
      6,165,326       7,642,419
Bharat Petroleum Corp. Ltd.
      5,254,452      31,453,131
Bharti Airtel Ltd.
      9,689,464      53,643,296
Bharti Infratel Ltd.
      2,164,877       9,580,862
Bosch Ltd.
         52,267      14,226,120
Britannia Industries Ltd.
        191,272      16,790,809
Cadila Healthcare Ltd.(a)
      1,442,326       7,722,186
Cipla Ltd./India
 2,423,828 18,849,701
Coal India Ltd.
 4,736,905 20,795,141
Container Corp. of India Ltd.
 500,826 10,234,714
Dabur India Ltd.
 3,739,892 21,242,553
Dr. Reddy's Laboratories Ltd.
 794,945 22,813,181
Eicher Motors Ltd.
 92,592 42,233,793
GAIL India Ltd.
 5,302,158 27,570,514
Glenmark Pharmaceuticals Ltd.
 972,010 7,719,761
Godrej Consumer Products Ltd.
 1,670,562 28,200,210
Grasim Industries Ltd.
 2,311,502 35,616,638
Havells India Ltd.
 1,762,327 14,210,651
HCL Technologies Ltd.
 3,854,382 51,996,246
Hero MotoCorp Ltd.
 344,311 18,086,883
Hindalco Industries Ltd.
 8,167,082 28,344,098
Hindustan Petroleum Corp. Ltd.
 4,231,315 19,553,745
Hindustan Unilever Ltd.
 4,507,013 107,625,327
Housing Development Finance Corp. Ltd.
 10,899,373 296,055,284
ICICI Bank Ltd.
 16,458,765 69,705,702
Idea Cellular Ltd.(a)
 13,536,926 12,336,842
IDFC Bank Ltd.
 220,745 133,136
Indiabulls Housing Finance Ltd.
 1,943,137 35,783,149
Indian Oil Corp. Ltd.
 9,893,964 25,525,716
Infosys Ltd.
 12,087,015 220,631,795
InterGlobe Aviation Ltd.(b)
 585,371 10,576,277
ITC Ltd.
 23,614,514 95,059,945
JSW Steel Ltd.
 5,920,115 29,116,974
Larsen & Toubro Ltd.
 3,300,258 67,019,947
LIC Housing Finance Ltd.
 2,087,555 14,698,652
Lupin Ltd.
 1,533,615 17,507,062
Mahindra & Mahindra Financial Services Ltd.
 2,059,474 14,882,414
Mahindra & Mahindra Ltd.
 5,197,326 71,083,200
Marico Ltd.
 3,169,716 15,117,595
Maruti Suzuki India Ltd.
 731,985 92,603,302
Motherson Sumi Systems Ltd.
 4,434,861 20,382,649
Nestle India Ltd.
 161,892 23,160,158
NTPC Ltd.
 13,071,941 32,455,877
Oil & Natural Gas Corp. Ltd.
 9,376,915 24,719,789
Petronet LNG Ltd.
 4,009,200 13,049,617
Pidilite Industries Ltd.
 735,834 12,622,553
Piramal Enterprises Ltd.
 574,518 20,189,541
Power Grid Corp. of India Ltd.
 10,490,429 32,559,854
Reliance Industries Ltd.
 19,726,839 269,333,873
Rural Electrification Corp. Ltd.
 4,938,283 8,646,066
Shree Cement Ltd.
 59,405 14,860,031
Shriram Transport Finance Co. Ltd.
 1,039,673 22,405,756
Siemens Ltd.
 505,146 7,825,431
State Bank of India(a)
 11,923,436 47,626,602
Sun Pharmaceutical Industries Ltd.
 5,850,789 41,646,745
Tata Consultancy Services Ltd.
 6,473,240 167,009,736
Tata Motors Ltd.(a)
 10,942,856 45,809,755
Tata Power Co. Ltd. (The)
 7,974,385 9,607,194
Tata Steel Ltd.
 2,417,078 20,618,545
 
 
77
  

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
India (continued)
Tech Mahindra Ltd.
      3,269,865 $     34,516,924
Titan Co. Ltd.
      2,152,201      28,706,644
UltraTech Cement Ltd.
        637,993      35,405,031
United Spirits Ltd.(a)
        403,985      20,016,512
UPL Ltd.
      2,510,019      26,319,260
Vakrangee Ltd.
      3,212,023       1,551,690
Vedanta Ltd.
      9,077,445      33,400,209
Wipro Ltd.
      7,876,027      30,566,909
Yes Bank Ltd.
 12,068,354 61,913,298
Zee Entertainment Enterprises Ltd.
 3,428,424 28,249,919
    3,164,721,185
Indonesia — 2.0%
Adaro Energy Tbk PT
 99,782,500 13,536,525
AKR Corporindo Tbk PT
 12,409,600 4,394,043
Astra International Tbk PT
 139,679,700 69,362,355
Bank Central Asia Tbk PT
 67,959,300 111,023,829
Bank Danamon Indonesia Tbk PT
 24,853,016 10,418,771
Bank Mandiri Persero Tbk PT
 128,543,700 65,220,085
Bank Negara Indonesia Persero Tbk PT
 51,562,976 31,449,890
Bank Rakyat Indonesia Persero Tbk PT
 381,757,010 84,621,201
Bank Tabungan Negara Persero Tbk PT
 27,561,200 6,049,778
Bumi Serpong Damai Tbk PT
 53,443,900 6,557,888
Charoen Pokphand Indonesia Tbk PT
 52,203,045 13,825,635
Gudang Garam Tbk PT
 3,341,200 16,471,551
Hanjaya Mandala Sampoerna Tbk PT
 64,173,600 17,503,990
Indah Kiat Pulp & Paper Corp. Tbk PT
 18,393,500 24,754,117
Indocement Tunggal Prakarsa Tbk PT
 12,750,200 16,172,888
Indofood CBP Sukses Makmur Tbk PT
 16,187,100 10,135,140
Indofood Sukses Makmur Tbk PT
 30,396,600 15,477,218
Jasa Marga Persero Tbk PT
 15,139,595 4,848,593
Kalbe Farma Tbk PT
 148,822,115 14,673,357
Matahari Department Store Tbk PT
 17,225,400 11,343,103
Pakuwon Jati Tbk PT
 140,732,000 5,671,819
Perusahaan Gas Negara Persero Tbk PT
 75,511,900 11,249,344
Semen Indonesia Persero Tbk PT
 20,716,200 12,523,647
Surya Citra Media Tbk PT
 41,147,700 7,284,875
Telekomunikasi Indonesia Persero Tbk PT
 348,302,200 88,234,886
Tower Bersama Infrastructure Tbk PT
 15,590,400 5,694,227
Unilever Indonesia Tbk PT
 10,498,700 34,454,172
United Tractors Tbk PT
 11,676,353 29,453,485
Waskita Karya Persero Tbk PT
 33,165,100 5,537,462
    747,943,874
Malaysia — 2.3%
AirAsia Group Bhd(c)
 10,508,200 8,105,571
Alliance Bank Malaysia Bhd(c)
 7,412,700 7,896,947
AMMB Holdings Bhd
 11,951,775 10,660,503
Astro Malaysia Holdings Bhd
 10,319,600 3,630,010
Axiata Group Bhd(c)
 19,057,200 20,876,732
British American Tobacco Malaysia Bhd(c)
 992,100 8,061,436
CIMB Group Holdings Bhd
 31,787,700 47,122,470
Dialog Group Bhd
 23,192,612 18,938,691
DiGi.Com Bhd(c)
 22,944,100 25,480,634
Felda Global Ventures Holdings Bhd(c)
 10,218,000 4,030,719
Fraser & Neave Holdings Bhd
 619,700 5,888,707
Gamuda Bhd(c)
 12,575,200 10,553,057
Genting Bhd(c)
 14,951,000 33,019,922
Genting Malaysia Bhd(c)
 20,727,800 25,935,790
Genting Plantations Bhd(c)
 2,042,800 4,876,030
HAP Seng Consolidated Bhd(c)
 4,129,900 10,169,101
 Security Shares Value
Malaysia (continued)
Hartalega Holdings Bhd(c)
      9,249,100 $     14,175,756
Hong Leong Bank Bhd(c)
      4,461,500      21,500,394
Hong Leong Financial Group Bhd(c)
      1,477,700       7,017,219
IHH Healthcare Bhd(c)
     16,846,200      25,396,281
IJM Corp. Bhd
     20,184,040       8,570,610
IOI Corp. Bhd
     14,855,920      17,282,138
IOI Properties Group Bhd(c)
     15,224,456       6,043,880
Kuala Lumpur Kepong Bhd(c)
      3,148,200      19,696,025
Malayan Banking Bhd
 26,430,600 64,150,652
Malaysia Airports Holdings Bhd
 6,231,100 13,041,473
Maxis Bhd(c)
 13,704,300 19,936,658
MISC Bhd
 8,217,300 12,119,485
My EG Services Bhd
 13,763,100 3,077,678
Nestle Malaysia Bhd(c)
 369,300 13,732,764
Petronas Chemicals Group Bhd(c)
 16,757,600 33,894,141
Petronas Dagangan Bhd
 1,467,900 9,235,230
Petronas Gas Bhd(c)
 4,898,000 21,634,884
PPB Group Bhd(c)
 3,503,800 17,536,607
Press Metal Aluminium Holdings Bhd(c)
 9,219,300 10,956,605
Public Bank Bhd(c)
 20,620,730 123,620,758
RHB Bank Bhd
 5,606,525 7,522,323
RHB Bank Bhd, New(a)(d)
 3,214,200 8
Sime Darby Bhd(c)
 16,461,973 10,092,265
Sime Darby Plantation Bhd
 16,658,673 23,188,203
Sime Darby Property Bhd(c)
 17,301,973 4,999,314
SP Setia Bhd Group(c)
 7,098,200 5,493,079
Telekom Malaysia Bhd(c)
 7,813,000 7,204,450
Tenaga Nasional Bhd(c)
 21,792,350 78,846,693
Top Glove Corp. Bhd
 4,500,700 11,602,307
UMW Holdings Bhd(a)
 3,086,900 4,963,859
Westports Holdings Bhd(c)
 6,951,600 6,025,884
YTL Corp. Bhd(c)
 24,293,889 5,798,793
    873,602,736
Mexico — 2.6%
Alfa SAB de CV, Class A
 21,065,600 21,557,809
Alsea SAB de CV
 2,513,000 8,213,674
America Movil SAB de CV, Series L, NVS
 232,998,300 180,461,796
Arca Continental SAB de CV(c)
 3,065,736 18,333,997
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Class B
 12,732,900 16,606,139
Cemex SAB de CV, CPO(a)
 101,360,773 60,069,695
Coca-Cola Femsa SAB de CV, Series L, NVS
 3,548,393 20,722,187
El Puerto de Liverpool SAB de CV, Series C1, NVS(c)
 1,270,865 7,182,924
Fibra Uno Administracion SA de CV
 22,087,900 30,385,156
Fomento Economico Mexicano SAB de CV
 13,470,200 111,901,658
Gruma SAB de CV, Series B
 1,495,390 15,628,351
Grupo Aeroportuario del Pacifico SAB de CV, Series B
 2,494,300 21,180,935
Grupo Aeroportuario del Sureste SAB de CV, Class B
 1,467,440 23,219,581
Grupo Bimbo SAB de CV, Series A(c)
 11,546,600 21,959,565
Grupo Carso SAB de CV, Series A1
 3,634,141 11,289,728
Grupo Financiero Banorte SAB de CV, Class O
 17,193,956 91,243,335
Grupo Financiero Inbursa SAB de CV, Class O(c)
 16,181,200 22,777,098
Grupo Lala SAB de CV(c)
 1,048,616 1,138,615
Grupo Mexico SAB de CV, Class B
 24,522,888 60,681,048
Grupo Televisa SAB, CPO(c)
 16,990,300 56,542,643
Industrias Penoles SAB de CV
 984,413 16,571,178
Infraestructura Energetica Nova SAB de CV(c)
 3,755,800 15,640,721
 
 
  
78

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Mexico (continued)
Kimberly-Clark de Mexico SAB de CV, Class A
     10,642,200 $     17,649,788
Mexichem SAB de CV
      7,406,434      20,795,483
Promotora y Operadora de Infraestructura SAB de CV
      1,636,165      14,659,131
Wal-Mart de Mexico SAB de CV
     35,960,600     89,953,611
    976,365,846
Pakistan — 0.1%
Habib Bank Ltd.
      4,065,000       6,020,568
Lucky Cement Ltd.
        928,050       4,386,167
MCB Bank Ltd.
 2,635,600 4,655,995
Oil & Gas Development Co. Ltd.
 4,566,700 6,417,916
United Bank Ltd./Pakistan
 3,284,700 4,806,060
    26,286,706
Peru — 0.4%
Cia. de Minas Buenaventura SAA, ADR, NVS
 1,280,703 19,812,476
Credicorp Ltd.
 465,974 103,175,963
Southern Copper Corp.
 587,160 28,706,252
    151,694,691
Philippines — 1.0%
Aboitiz Equity Ventures Inc.
 14,799,150 16,282,149
Aboitiz Power Corp.
 8,578,464 6,417,254
Alliance Global Group Inc.(a)
 25,833,980 6,540,186
Ayala Corp.
 1,767,646 31,627,894
Ayala Land Inc.
 52,527,700 39,794,091
Bank of the Philippine Islands
 6,528,624 11,805,718
BDO Unibank Inc.
 13,692,121 34,011,702
DMCI Holdings Inc.
 26,473,400 5,442,276
Globe Telecom Inc.
 242,345 7,454,569
GT Capital Holdings Inc.
 593,060 10,950,085
International Container Terminal Services Inc.
 3,583,090 5,763,172
JG Summit Holdings Inc.
 20,290,154 22,053,046
Jollibee Foods Corp.
 3,193,739 16,657,013
Manila Electric Co.
 1,232,170 7,570,966
Megaworld Corp.
 76,860,200 7,110,251
Metro Pacific Investments Corp.
 96,004,600 8,497,519
Metropolitan Bank & Trust Co.
 5,542,030 8,375,997
PLDT Inc.
 622,668 15,348,765
Robinsons Land Corp.
 12,909,306 5,418,245
Security Bank Corp.
 1,414,450 5,250,121
SM Investments Corp.
 1,738,532 28,724,306
SM Prime Holdings Inc.
 67,146,425 47,290,265
Universal Robina Corp.
 6,288,540 15,321,699
    363,707,289
Poland — 1.1%
Alior Bank SA(a)
 628,716 11,767,980
Bank Handlowy w Warszawie SA
 238,434 5,136,344
Bank Millennium SA(a)
 4,294,248 9,308,702
Bank Polska Kasa Opieki SA
 1,130,923 34,174,523
Bank Zachodni WBK SA
 241,297 22,631,275
CCC SA
 202,785 14,952,294
CD Projekt SA
 469,829 18,692,838
Cyfrowy Polsat SA
 1,552,716 10,450,065
Dino Polska SA(a)(b)
 317,344 9,555,273
Grupa Azoty SA
 314,539 3,621,694
Grupa Lotos SA
 648,410 9,565,570
Jastrzebska Spolka Weglowa SA(a)
 369,183 8,324,142
KGHM Polska Miedz SA
 970,516 22,223,695
LPP SA
 9,078 23,113,659
mBank SA
 104,210 11,869,476
 Security Shares Value
Poland (continued)
Orange Polska SA(a)
      4,568,893 $      6,186,946
PGE Polska Grupa Energetyczna SA(a)
      5,872,123      15,617,728
PLAY Communications SA(b)
        741,062       4,987,484
Polski Koncern Naftowy ORLEN SA
      2,074,020      45,687,582
Polskie Gornictwo Naftowe i Gazownictwo SA
     12,216,135      18,886,760
Powszechna Kasa Oszczednosci Bank Polski SA(a)
      6,219,588      63,107,868
Powszechny Zaklad Ubezpieczen SA
      4,173,558     40,960,035
    410,821,933
Qatar — 0.7%
Barwa Real Estate Co.
 740,330 6,950,285
Commercial Bank PQSC (The)
 1,457,344 15,062,214
Doha Bank QPSC
 699,459 4,988,612
Ezdan Holding Group QSC(a)
 5,713,509 13,265,039
Industries Qatar QSC
 1,074,058 30,144,199
Masraf Al Rayan QSC
 2,721,683 24,940,378
Ooredoo QPSC
 589,723 10,833,789
Qatar Electricity & Water Co. QSC
 345,039 17,948,641
Qatar Gas Transport Co. Ltd.
 388,732 1,564,506
Qatar Insurance Co. SAQ
 1,146,092 10,336,008
Qatar Islamic Bank SAQ
 734,787 23,092,731
Qatar National Bank QPSC
 2,052,272 89,125,636
    248,252,038
Russia — 3.3%
Alrosa PJSC
 18,134,300 25,691,046
Gazprom PJSC
 59,898,719 139,349,633
Gazprom PJSC, ADR, NVS
 6,941,709 31,529,242
Inter RAO UES PJSC
 218,725,000 14,317,885
LUKOIL PJSC
 2,416,473 163,185,349
LUKOIL PJSC, ADR, NVS
 558,835 37,296,648
Magnit PJSC, GDR, NVS(e)
 2,466,879 49,608,937
Magnitogorsk Iron & Steel Works PJSC
 15,484,900 12,196,121
MMC Norilsk Nickel PJSC
 441,681 78,737,597
Mobile TeleSystems PJSC, ADR, NVS
 3,453,399 33,083,563
Moscow Exchange MICEX-RTS PJSC
 9,717,490 17,553,924
Novatek PJSC, GDR, NVS(e)
 630,522 90,858,220
Novolipetsk Steel PJSC
 8,373,169 21,917,814
PhosAgro PJSC, GDR, NVS(e)
 789,862 10,505,165
Polyus PJSC
 196,295 11,810,297
Rosneft Oil Co. PJSC
 6,670,147 41,233,928
Rosneft Oil Co. PJSC, GDR, NVS
 1,041,033 6,350,301
Rosneft Oil Co. PJSC, GDR, NVS New
 402,389 2,454,573
RusHydro PJSC
 741,321,100 8,610,041
Sberbank of Russia PJSC
 61,060,101 217,838,419
Sberbank of Russia PJSC, ADR
 3,624,485 52,120,094
Severstal PJSC
 1,452,753 23,373,643
Surgutneftegas OJSC
 38,997,860 17,913,581
Surgutneftegas OJSC, ADR, NVS
 1,139,160 5,069,262
Tatneft PJSC
 10,593,671 113,283,570
VTB Bank PJSC
 23,164,823,998 18,542,266
VTB Bank PJSC, GDR, NVS(e)
 167,118 265,216
X5 Retail Group NV, GDR
 526,734 15,279,533
    1,259,975,868
South Africa — 6.3%
Anglo American Platinum Ltd.
 379,254 10,061,236
AngloGold Ashanti Ltd.
 2,880,415 24,558,011
Aspen Pharmacare Holdings Ltd.
 2,690,100 53,101,066
Barclays Africa Group Ltd.
 4,965,384 63,387,547
Bid Corp. Ltd.
 2,338,470 46,883,877
 
 
79
  

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Africa (continued)
Bidvest Group Ltd. (The)
      2,329,474 $     37,153,869
Capitec Bank Holdings Ltd.
        280,725      19,382,327
Clicks Group Ltd.
      1,655,756      26,407,118
Coronation Fund Managers Ltd.
      1,594,289       7,868,852
Discovery Ltd.
      2,478,691      30,168,987
Exxaro Resources Ltd.
      1,747,360      17,294,242
FirstRand Ltd.
     23,276,332     110,270,819
Fortress REIT Ltd., Series A
      7,315,040       9,657,123
Fortress REIT Ltd., Series B
 5,424,554 6,338,997
Foschini Group Ltd. (The)
 1,563,291 22,741,471
Gold Fields Ltd.
 5,829,033 20,793,976
Growthpoint Properties Ltd.
 20,730,304 44,521,458
Hyprop Investments Ltd.
 1,769,444 14,460,123
Imperial Holdings Ltd.
 1,104,339 17,798,474
Investec Ltd.
 1,955,865 14,227,702
Kumba Iron Ore Ltd.
 449,336 10,294,815
Liberty Holdings Ltd.
 897,279 8,605,802
Life Healthcare Group Holdings Ltd.
 9,319,132 20,970,806
MMI Holdings Ltd./South Africa
 6,810,694 10,056,058
Mondi Ltd.
 825,173 22,850,744
Mr. Price Group Ltd.
 1,748,699 34,656,411
MTN Group Ltd.
 11,716,736 105,927,065
Naspers Ltd., Class N
 3,033,066 724,678,856
Nedbank Group Ltd.
 1,545,753 33,392,659
NEPI Rockcastle PLC
 2,628,119 25,731,288
Netcare Ltd.
 7,211,542 16,860,147
Pick n Pay Stores Ltd.
 2,561,128 15,207,014
Pioneer Foods Group Ltd.
 900,558 7,643,899
PSG Group Ltd.
 1,007,217 17,319,520
Rand Merchant Investment Holdings Ltd.
 4,732,176 14,347,853
Redefine Properties Ltd.
 37,002,806 32,050,595
Reinet Investments SCA(a)
 1,020,747 19,214,061
Remgro Ltd.
 3,684,188 59,342,626
Resilient REIT Ltd.
 1,945,575 8,780,819
RMB Holdings Ltd.
 4,983,217 28,577,264
Sanlam Ltd.
 11,598,069 69,643,359
Sappi Ltd.
 3,729,189 24,506,940
Sasol Ltd.
 3,846,015 138,930,269
Shoprite Holdings Ltd.
 3,070,553 56,748,862
SPAR Group Ltd. (The)
 1,364,082 20,760,111
Standard Bank Group Ltd.
 8,939,082 146,384,967
Steinhoff International Holdings NV, Class H(a)
 11,092,214 980,914
Telkom SA SOC Ltd.
 1,921,042 7,863,152
Tiger Brands Ltd.
 1,116,935 29,623,250
Truworths International Ltd.
 3,062,016 20,328,015
Vodacom Group Ltd.
 4,167,410 47,218,582
Woolworths Holdings Ltd./South Africa
 6,926,288 31,905,222
    2,408,479,220
South Korea — 14.2%
Amorepacific Corp.(c)
 221,143 68,212,855
AMOREPACIFIC Group
 199,965 23,373,617
BGF retail Co. Ltd.(c)
 56,717 9,602,349
BNK Financial Group Inc.
 1,815,338 16,049,141
Celltrion Healthcare Co. Ltd.(a)(c)
 238,188 22,052,194
Celltrion Inc.(a)(c)
 562,554 138,557,528
Celltrion Pharm Inc.(a)
 105,760 9,144,053
Cheil Worldwide Inc.
 488,568 8,974,114
CJ CheilJedang Corp.
 56,959 18,520,460
CJ Corp.
 100,750 13,832,738
CJ E&M Corp.
 131,736 11,072,203
 Security Shares Value
South Korea (continued)
CJ Logistics Corp.(a)(c)
         55,859 $      7,747,039
Coway Co. Ltd.
        343,516      27,820,351
Daelim Industrial Co. Ltd.
        190,947      14,879,677
Daewoo Engineering & Construction Co. Ltd.(a)
      1,132,053       6,773,730
DB Insurance Co. Ltd.
        345,216      18,734,761
DGB Financial Group Inc.
      1,175,760      11,289,128
Dongsuh Cos. Inc.
        254,817       6,134,330
Doosan Bobcat Inc.
        244,027       7,674,303
Doosan Heavy Industries & Construction Co. Ltd.(a)(c)
 379,555 6,725,266
E-MART Inc.
 144,677 33,553,736
GS Engineering & Construction Corp.(c)
 348,608 15,862,723
GS Holdings Corp.
 356,102 19,259,471
GS Retail Co. Ltd.(c)
 187,856 6,578,750
Hana Financial Group Inc.
 2,088,607 80,603,044
Hankook Tire Co. Ltd.
 510,522 20,293,954
Hanmi Pharm Co. Ltd.(c)
 43,433 19,461,143
Hanmi Science Co. Ltd.(c)
 88,651 5,839,066
Hanon Systems
 1,293,252 12,117,302
Hanssem Co. Ltd.(c)
 72,910 7,643,054
Hanwha Chemical Corp.
 744,115 17,844,402
Hanwha Corp.
 286,808 9,578,448
Hanwha Life Insurance Co. Ltd.
 1,793,462 9,267,205
HLB Inc.(a)
 216,979 27,777,821
Hotel Shilla Co. Ltd.(c)
 218,113 25,090,229
Hyosung Corp.
 154,462 19,201,176
Hyundai Department Store Co. Ltd.
 98,112 10,239,436
Hyundai Development Co. Engineering & Construction
 460,781 19,834,165
Hyundai Engineering & Construction Co. Ltd.
 538,533 36,869,739
Hyundai Glovis Co. Ltd.
 128,717 16,060,519
Hyundai Heavy Industries Co. Ltd.(a)(c)
 253,254 26,900,675
Hyundai Heavy Industries Holdings Co. Ltd.(a)
 67,996 24,474,649
Hyundai Marine & Fire Insurance Co. Ltd.
 437,715 13,826,426
Hyundai Mobis Co. Ltd.
 488,666 98,825,723
Hyundai Motor Co.
 1,062,923 137,062,291
Hyundai Steel Co.
 555,379 31,840,458
Industrial Bank of Korea
 1,747,094 25,283,795
ING Life Insurance Korea Ltd.(b)
 229,751 8,568,106
Kakao Corp.(c)
 316,950 30,432,140
Kangwon Land Inc.
 807,646 20,117,162
KB Financial Group Inc.
 2,739,005 131,620,631
KCC Corp.
 41,439 13,243,412
KEPCO Plant Service & Engineering Co. Ltd.(c)
 154,823 5,809,723
Kia Motors Corp.
 1,813,810 52,414,473
Korea Aerospace Industries Ltd.(a)(c)
 484,298 19,768,182
Korea Electric Power Corp.
 1,773,096 54,527,698
Korea Gas Corp.(a)
 192,858 10,788,383
Korea Investment Holdings Co. Ltd.
 282,973 24,649,719
Korea Zinc Co. Ltd.(c)
 58,790 22,115,446
Korean Air Lines Co. Ltd.
 324,786 9,626,525
KT Corp.
 169,957 4,257,005
KT&G Corp.
 822,874 73,283,458
Kumho Petrochemical Co. Ltd.
 128,009 12,468,987
LG Chem Ltd.
 316,759 99,469,290
LG Corp.
 652,374 44,421,589
LG Display Co. Ltd.
 1,606,268 33,080,523
LG Electronics Inc.(c)
 734,080 63,060,261
LG Household & Health Care Ltd.
 64,781 80,709,572
LG Innotek Co. Ltd.(c)
 99,016 13,227,241
 
 
  
80

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Korea (continued)
Lotte Chemical Corp.
        110,636 $     37,821,203
Lotte Corp.(a)(c)
        209,725      11,401,164
Lotte Shopping Co. Ltd.
         79,448      16,509,441
Medy-Tox Inc.(c)
         29,667      20,740,342
Mirae Asset Daewoo Co. Ltd.
      2,654,652      23,149,245
NAVER Corp.
        193,386     120,019,699
NCSoft Corp.(c)
        121,245      39,704,518
Netmarble Corp.(b)(c)
        177,089      25,792,451
NH Investment & Securities Co. Ltd.
 994,094 14,616,995
OCI Co. Ltd.
 120,073 14,759,193
Orion Corp./Republic of Korea(c)
 155,023 18,623,757
Ottogi Corp.
 8,598 6,460,764
Pan Ocean Co. Ltd.(a)(c)
 1,537,618 7,217,725
Pearl Abyss Corp.(a)
 37,901 7,861,834
POSCO
 532,818 167,810,855
Posco Daewoo Corp.
 272,982 5,799,237
S-1 Corp.
 123,968 10,166,308
Samsung Biologics Co. Ltd.(a)(b)(c)
 114,539 46,221,499
Samsung C&T Corp.
 522,485 60,830,157
Samsung Card Co. Ltd.
 209,341 7,204,927
Samsung Electro-Mechanics Co. Ltd.
 388,557 48,301,533
Samsung Electronics Co. Ltd.
 33,244,394 1,563,607,566
Samsung Engineering Co. Ltd.(a)
 1,052,041 18,006,546
Samsung Fire & Marine Insurance Co. Ltd.
 213,259 49,558,309
Samsung Heavy Industries Co. Ltd.(a)
 2,670,984 18,558,996
Samsung Life Insurance Co. Ltd.
 481,558 46,013,706
Samsung SDI Co. Ltd.(c)
 381,165 70,897,150
Samsung SDS Co. Ltd.
 241,085 47,190,440
Samsung Securities Co. Ltd.
 440,750 15,087,597
Shinhan Financial Group Co. Ltd.
 3,005,783 121,993,605
Shinsegae Inc.(c)
 51,474 20,963,019
SillaJen Inc.(a)(c)
 354,519 26,475,049
SK Holdings Co. Ltd.(c)
 219,124 56,308,129
SK Hynix Inc.
 4,024,346 348,693,276
SK Innovation Co. Ltd.
 446,741 85,373,761
SK Telecom Co. Ltd.
 138,255 28,473,130
S-Oil Corp.
 310,810 30,995,941
ViroMed Co. Ltd.(a)
 94,726 23,287,156
Woori Bank
 3,264,918 46,340,967
Yuhan Corp.
 59,925 13,230,809
    5,388,086,762
Taiwan — 11.4%
Acer Inc.(c)
 20,304,121 16,636,890
Advantech Co. Ltd.
 2,459,126 16,661,468
Airtac International Group(c)
 819,000 14,077,566
ASE Industrial Holding Co. Ltd.
 24,349,110 61,763,675
Asia Cement Corp.
 15,832,077 17,464,084
Asustek Computer Inc.
 4,912,968 44,519,494
AU Optronics Corp.(c)
 60,486,000 26,547,099
Catcher Technology Co. Ltd.
 4,556,210 52,995,984
Cathay Financial Holding Co. Ltd.
 56,477,644 101,036,387
Chailease Holding Co. Ltd.
 8,105,932 28,948,308
Chang Hwa Commercial Bank Ltd.
 36,521,940 21,392,789
Cheng Shin Rubber Industry Co. Ltd.(c)
 13,353,128 20,322,836
Chicony Electronics Co. Ltd.
 3,872,267 9,150,293
China Airlines Ltd.(a)
 18,578,347 6,293,751
China Development Financial Holding Corp.
 96,487,848 36,229,437
China Life Insurance Co. Ltd./Taiwan(c)
 18,021,285 18,916,590
China Steel Corp.
 88,121,313 69,411,177
Chunghwa Telecom Co. Ltd.
 26,093,410 94,927,881
 Security Shares Value
Taiwan (continued)
Compal Electronics Inc.
     29,537,908 $     19,421,484
CTBC Financial Holding Co. Ltd.
    121,061,772      87,276,481
Delta Electronics Inc.
     13,987,000      51,818,400
E.Sun Financial Holding Co. Ltd.
     63,345,712      44,187,553
Eclat Textile Co. Ltd.(c)
      1,260,427      15,396,969
Eva Airways Corp.
     14,694,364       7,430,189
Evergreen Marine Corp. Taiwan Ltd.(a)
     13,917,012       6,897,773
Far Eastern New Century Corp.
     22,400,038      21,344,762
Far EasTone Telecommunications Co. Ltd.
 11,058,000 28,197,226
Feng TAY Enterprise Co. Ltd.(c)
 2,342,529 10,398,557
First Financial Holding Co. Ltd.
 67,675,639 45,965,631
Formosa Chemicals & Fibre Corp.
 23,670,090 90,851,938
Formosa Petrochemical Corp.
 8,683,000 35,211,338
Formosa Plastics Corp.
 29,708,280 106,591,462
Formosa Taffeta Co. Ltd.
 5,549,000 6,176,565
Foxconn Technology Co. Ltd.(c)
 6,490,637 15,987,484
Fubon Financial Holding Co. Ltd.
 46,106,969 80,175,328
General Interface Solution Holding Ltd.(c)
 1,217,000 7,778,499
Giant Manufacturing Co. Ltd.(c)
 2,119,203 9,195,013
Globalwafers Co. Ltd.
 1,553,000 30,737,079
Highwealth Construction Corp.(c)
 5,922,170 8,973,734
Hiwin Technologies Corp.
 1,490,971 21,149,231
Hon Hai Precision Industry Co. Ltd.
 113,300,592 324,077,925
Hotai Motor Co. Ltd.(c)
 1,893,000 17,280,026
HTC Corp.(a)(c)
 4,560,708 8,920,030
Hua Nan Financial Holdings Co. Ltd.
 53,164,305 31,762,130
Innolux Corp.(c)
 62,071,002 24,031,628
Inventec Corp.
 17,522,281 14,182,044
Largan Precision Co. Ltd.(c)
 710,000 97,158,020
Lite-On Technology Corp.
 14,794,246 19,306,611
Macronix International(a)(c)
 12,523,000 20,689,502
MediaTek Inc.
 10,424,338 108,378,462
Mega Financial Holding Co. Ltd.
 75,310,162 65,981,067
Micro-Star International Co. Ltd.(c)
 4,728,000 19,725,314
Nan Ya Plastics Corp.
 34,295,160 95,806,448
Nanya Technology Corp.(c)
 7,209,000 23,964,635
Nien Made Enterprise Co. Ltd.(c)
 1,091,000 8,648,182
Novatek Microelectronics Corp.
 4,096,000 18,524,039
Pegatron Corp.(c)
 13,529,414 28,583,746
Phison Electronics Corp.
 1,072,535 9,862,103
Pou Chen Corp.
 15,468,220 18,947,105
Powertech Technology Inc.
 5,076,300 15,146,812
President Chain Store Corp.
 3,992,000 40,903,960
Quanta Computer Inc.(c)
 18,634,000 32,962,368
Realtek Semiconductor Corp.
 3,245,637 12,403,432
Ruentex Development Co. Ltd.(a)
 6,865,430 8,283,474
Ruentex Industries Ltd.
 4,039,598 8,264,852
Shin Kong Financial Holding Co. Ltd.(c)
 57,043,865 22,846,866
SinoPac Financial Holdings Co. Ltd.
 74,938,006 27,762,691
Standard Foods Corp.
 3,256,615 6,652,031
Synnex Technology International Corp.
 10,051,834 16,103,601
TaiMed Biologics Inc.(a)(c)
 1,264,000 13,289,054
Taishin Financial Holding Co. Ltd.
 65,843,006 32,414,410
Taiwan Business Bank
 28,877,632 8,818,996
Taiwan Cement Corp.
 24,767,296 36,041,390
Taiwan Cooperative Financial Holding Co. Ltd.
 57,507,605 33,877,117
Taiwan High Speed Rail Corp.
 11,507,000 8,890,978
Taiwan Mobile Co. Ltd.
 11,123,600 40,838,943
Taiwan Semiconductor Manufacturing Co. Ltd.
 170,250,000 1,272,833,470
Teco Electric and Machinery Co. Ltd.
 13,750,000 11,082,973
 
 
81
  

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Taiwan (continued)
Uni-President Enterprises Corp.
     33,514,839 $     81,769,429
United Microelectronics Corp.(c)
     83,491,000      46,397,048
Vanguard International Semiconductor Corp.
      6,322,000      13,841,870
Walsin Technology Corp.
      2,219,000      28,698,914
Win Semiconductors Corp.(c)
      2,280,000      18,529,780
Winbond Electronics Corp.(c)
     20,846,000      13,949,979
Wistron Corp.(c)
     18,795,156      14,145,846
WPG Holdings Ltd.
     11,173,532      16,222,440
Yageo Corp.(c)
 1,488,000 47,230,212
Yuanta Financial Holding Co. Ltd.
 71,804,635 33,791,544
Zhen Ding Technology Holding Ltd.(c)
 3,172,075 7,167,514
    4,335,449,416
Thailand — 2.3%
Advanced Info Service PCL, NVDR
 7,220,700 42,999,167
Airports of Thailand PCL, NVDR
 29,720,000 63,639,262
Bangkok Bank PCL
 1,703,900 10,279,859
Bangkok Dusit Medical Services PCL, NVDR
 27,256,100 22,791,518
Bangkok Expressway & Metro PCL, NVDR
 53,190,600 13,634,352
Banpu PCL, NVDR
 14,545,200 9,548,271
Berli Jucker PCL, NVDR
 8,464,000 15,081,213
BTS Group Holdings PCL, NVDR
 40,391,100 12,247,380
Bumrungrad Hospital PCL, NVDR
 2,517,500 15,149,070
Central Pattana PCL, NVDR
 9,639,500 22,976,301
Charoen Pokphand Foods PCL, NVDR
 21,496,600 16,799,469
CP ALL PCL, NVDR
 34,933,800 88,180,817
Delta Electronics Thailand PCL, NVDR
 3,575,100 7,208,314
Electricity Generating PCL, NVDR
 878,800 6,620,531
Energy Absolute PCL, NVDR(c)
 7,968,300 9,652,130
Glow Energy PCL, NVDR
 3,640,700 9,673,632
Home Product Center PCL, NVDR
 28,474,114 12,995,376
Indorama Ventures PCL, NVDR
 11,073,280 20,163,131
IRPC PCL, NVDR
 71,196,900 14,688,951
Kasikornbank PCL
 8,546,700 52,097,734
Kasikornbank PCL, NVDR
 4,419,700 26,457,410
Krung Thai Bank PCL, NVDR(c)
 24,561,000 13,435,996
Land & Houses PCL, NVDR
 21,082,500 7,315,278
Minor International PCL, NVDR
 15,766,620 16,017,979
PTT Exploration & Production PCL, NVDR
 9,670,139 40,657,508
PTT Global Chemical PCL, NVDR
 15,727,130 43,877,660
PTT PCL, NVDR
 73,164,700 119,501,581
Robinson PCL, NVDR
 3,605,300 7,100,153
Siam Cement PCL (The), NVDR
 2,601,900 36,275,317
Siam Commercial Bank PCL (The), NVDR
 12,680,300 52,718,972
Thai Oil PCL, NVDR
 7,842,300 22,553,661
Thai Union Group PCL, NVDR(c)
 13,728,900 7,424,507
TMB Bank PCL, NVDR
 81,539,500 6,321,287
True Corp. PCL, NVDR(c)
 70,592,101 15,777,853
    881,861,640
Turkey — 0.7%
Akbank Turk AS
 15,149,309 26,809,982
Anadolu Efes Biracilik Ve Malt Sanayii AS
 1,458,877 8,102,282
Arcelik AS
 1,655,356 6,063,321
Aselsan Elektronik Sanayi Ve Ticaret AS(c)
 1,471,183 7,651,857
BIM Birlesik Magazalar AS
 1,482,797 22,630,264
Coca-Cola Icecek AS
 529,052 4,155,509
Emlak Konut Gayrimenkul Yatirim Ortakligi AS(c)
 12,918,829 5,893,613
Enka Insaat ve Sanayi AS
 1 —
Eregli Demir ve Celik Fabrikalari TAS
 9,905,785 24,516,405
Ford Otomotiv Sanayi AS
 503,496 7,101,730
 Security Shares Value
Turkey (continued)
Haci Omer Sabanci Holding AS
      6,430,524 $     13,222,579
KOC Holding AS
      5,271,809      16,230,960
Petkim Petrokimya Holding AS
      4,928,926       5,116,363
TAV Havalimanlari Holding AS
      1,182,769       5,719,061
Tofas Turk Otomobil Fabrikasi AS
        867,922       4,781,992
Tupras Turkiye Petrol Rafinerileri AS
        869,222      20,325,173
Turk Hava Yollari AO(a)
      3,813,142      13,992,179
Turk Telekomunikasyon AS(a)(c)
        193,825         253,310
Turkcell Iletisim Hizmetleri AS
 7,673,887 20,294,801
Turkiye Garanti Bankasi AS
 15,815,347 31,055,933
Turkiye Halk Bankasi AS(c)
 4,122,912 6,978,361
Turkiye Is Bankasi AS, Class C
 10,917,378 14,340,119
Turkiye Sise ve Cam Fabrikalari AS
 5,424,954 4,758,469
Turkiye Vakiflar Bankasi TAO, Class D
 5,100,952 6,149,315
Ulker Biskuvi Sanayi AS
 1,090,999 4,207,756
Yapi ve Kredi Bankasi AS(a)(c)
 5,808,182 5,145,818
    285,497,152
United Arab Emirates — 0.6%
Abu Dhabi Commercial Bank PJSC
 14,968,560 28,648,157
Aldar Properties PJSC
 23,604,726 13,173,894
DAMAC Properties Dubai Co. PJSC
 11,694,929 7,609,512
DP World Ltd.
 1,193,420 26,851,950
Dubai Investments PJSC
 5,617,760 3,150,589
Dubai Islamic Bank PJSC
 9,477,592 13,081,794
Emaar Development PJSC(a)
 4,129,308 5,958,192
Emaar Malls PJSC
 14,414,197 8,044,622
Emaar Properties PJSC
 25,140,108 35,590,314
Emirates Telecommunications Group Co. PJSC
 12,554,494 55,370,133
First Abu Dhabi Bank PJSC
 10,047,027 33,643,720
    231,122,877
Total Common Stocks — 96.5%

(Cost: $29,519,210,856)
 36,628,901,873
Preferred Stocks
Brazil — 2.1%
Banco Bradesco SA, Preference Shares, NVS
 23,140,246 181,254,542
Braskem SA, Class A, Preference Shares, NVS
 1,218,900 14,859,645
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS
 1,673,337 7,526,321
Cia. Brasileira de Distribuicao, Preference Shares, NVS
 1,102,086 23,527,030
Cia. Energetica de Minas Gerais, Preference Shares, NVS
 6,116,310 12,597,064
Gerdau SA, Preference Shares, NVS
 7,194,385 28,591,694
Itau Unibanco Holding SA, Preference Shares, NVS
 22,318,153 257,578,232
Itausa-Investimentos Itau SA, Preference Shares, NVS
 28,125,357 84,812,975
Lojas Americanas SA, Preference Shares, NVS
 5,154,124 24,593,865
Petroleo Brasileiro SA, Preference Shares, NVS
 27,026,927 137,745,485
Telefonica Brasil SA, Preference Shares, NVS
 3,096,267 37,829,822
    810,916,675
Chile — 0.1%
Embotelladora Andina SA, Class B, Preference Shares
 1,904,817 8,229,133
Sociedad Quimica y Minera de Chile SA, Series B, Preference Shares
 671,735 34,985,965
    43,215,098
 
 
  
82

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Colombia — 0.1%
Bancolombia SA, Preference Shares, NVS
      3,162,913 $     36,688,852
Grupo Aval Acciones y Valores SA, Preference Shares, NVS
     23,640,098      10,191,091
Grupo de Inversiones Suramericana SA, Preference Shares, NVS
        641,175      7,837,063
    54,717,006
Russia — 0.1%
Surgutneftegas OJSC, Preference Shares, NVS
     48,423,574      23,680,567
Transneft PJSC, Preference Shares
          3,495      9,566,355
    33,246,922
South Korea — 0.8%
Amorepacific Corp., Preference Shares, NVS
 64,345 9,699,951
Hyundai Motor Co.    
Preference Shares, NVS
 165,055 13,688,870
Series 2, Preference Shares, NVS(c)
 261,879 22,957,990
LG Chem Ltd., Preference Shares, NVS
 54,163 9,873,398
LG Household & Health Care Ltd., Preference Shares, NVS
 14,727 10,014,278
Samsung Electronics Co. Ltd., Preference Shares, NVS
 5,973,341 224,426,282
    290,660,769
Total Preferred Stocks — 3.2%

(Cost: $909,869,126)
 1,232,756,470
Rights
United Arab Emirates — 0.0%
Dubai Islamic Bank PJSC, NVS (Expires 06/06/18)(a)
 3,265,250 1,742,344
Total Rights — 0.0%

(Cost: $0)
 1,742,344
 Security Shares Value
Short-Term Investments
Money Market Funds — 5.3%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(f)(g)(h)
  1,993,963,822 $  1,994,362,615
Total Short-Term Investments — 5.3%

(Cost: $1,994,006,173)
 1,994,362,615
Total Investments in Securities — 105.0%

(Cost: $32,423,086,155)
 39,857,763,302
Other Assets, Less Liabilities — (5.0)%
 (1,882,818,962)
Net Assets — 100.0%
 $ 37,974,944,340
    
(a) Non-income producing security.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) All or a portion of this security is on loan.
(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(e) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(f) Affiliate of the Fund.
(g) Annualized 7-day yield as of period-end.
(h) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 2,193,968,858 (200,005,036) 1,993,963,822 $1,994,362,615   $16,717,408 (a)   $ (77,722)   $ (32,088)
BlackRock Cash Funds: Treasury, SL Agency Shares
 94,337,685 (94,337,685) — —   546,266   —   —
        $1,994,362,615   $17,263,674   $ (77,722)   $ (32,088)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI Emerging Markets E-Mini
 1,284 06/15/18 $ 72,013 $ (142,100)
83
  

iShares® MSCI Emerging Markets ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Consolidated Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $36,326,648,956   $   288,670,725   $    13,582,192   $36,628,901,873
Preferred Stocks
  1,232,756,470               —               —     1,232,756,470
Rights
             —        1,742,344               —         1,742,344
Money Market Funds
  1,994,362,615               —               —    1,994,362,615
  $39,553,768,041   $   290,413,069   $    13,582,192   $39,857,763,302
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $ (142,100)   $ —   $ —   $ (142,100)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
CPO
 Certificates of Participation (Ordinary)
GDR
 Global Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
  
84

iShares® MSCI Emerging Markets ex China ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Brazil — 5.8%
Ambev SA
  13,000 $     68,734
B3 SA - Brasil, Bolsa, Balcao
   6,200      36,244
Banco Bradesco SA
   2,420      16,948
Banco do Brasil SA
   2,600      21,203
Banco Santander Brasil SA, NVS
   1,200      10,885
BB Seguridade Participacoes SA
   2,400      16,795
BR Malls Participacoes SA
   3,000       8,298
BRF SA(a)
 1,400 8,053
CCR SA
 4,000 11,063
Centrais Eletricas Brasileiras SA(a)
 1,200 4,714
Cia. de Saneamento Basico do Estado de Sao Paulo
 1,000 7,022
Cia. Siderurgica Nacional SA(a)
 1,800 3,722
Cielo SA
 3,600 16,385
Embraer SA
 2,000 12,078
Equatorial Energia SA
 600 9,794
Fibria Celulose SA
 800 15,205
Hypera SA
 1,000 7,572
JBS SA
 2,600 6,235
Klabin SA, NVS
 1,800 10,145
Kroton Educacional SA
 3,400 9,869
Localiza Rent a Car SA
 1,600 10,625
Lojas Renner SA
 2,400 19,121
Magazine Luiza SA
 200 5,823
Multiplan Empreendimentos Imobiliarios SA
 400 6,302
Petroleo Brasileiro SA
 8,200 48,860
Raia Drogasil SA
 600 10,033
Rumo SA(a)
 3,400 12,608
Suzano Papel e Celulose SA
 1,400 16,203
TIM Participacoes SA
 2,600 9,362
Ultrapar Participacoes SA
 1,000 13,426
Vale SA
 8,871 120,605
WEG SA
 2,340 10,795
    584,727
Chile — 1.4%
Banco de Chile
 52,327 8,114
Banco de Credito e Inversiones SA
 101 7,104
Banco Santander Chile
 153,417 12,302
Cencosud SA
 3,790 10,040
Cia. Cervecerias Unidas SA
 468 5,953
Empresas CMPC SA
 2,794 10,571
Empresas COPEC SA
 1,394 21,258
Enel Americas SA
 103,930 20,080
Enel Chile SA
 123,005 13,279
Latam Airlines Group SA
 1,112 13,392
SACI Falabella
 2,030 18,981
    141,074
Colombia — 0.6%
Bancolombia SA
 980 11,239
Ecopetrol SA
 14,616 15,638
Grupo Argos SA/Colombia
 1,430 9,616
Grupo de Inversiones Suramericana SA
 988 12,699
Interconexion Electrica SA ESP
 1,712 8,394
    57,586
Czech Republic — 0.2%
CEZ AS
 612 15,288
Komercni Banka AS
 260 10,521
    25,809
 Security Shares Value
Egypt — 0.2%
Commercial International Bank Egypt SAE
   3,660 $     17,229
Greece — 0.4%
Alpha Bank AE(a)
   4,454       9,519
Eurobank Ergasias SA(a)
   4,724       4,963
Hellenic Telecommunications Organization SA
   1,016      12,156
JUMBO SA
     434       6,961
OPAP SA
     971     10,428
    44,027
Hungary — 0.4%
MOL Hungarian Oil & Gas PLC
 1,104 10,392
OTP Bank Nyrt
 680 24,333
Richter Gedeon Nyrt
 416 8,127
    42,852
Indonesia — 3.0%
Adaro Energy Tbk PT
 44,800 6,078
Astra International Tbk PT
 61,400 30,490
Bank Central Asia Tbk PT
 30,400 49,664
Bank Mandiri Persero Tbk PT
 57,000 28,920
Bank Negara Indonesia Persero Tbk PT
 22,200 13,540
Bank Rakyat Indonesia Persero Tbk PT
 161,400 35,776
Charoen Pokphand Indonesia Tbk PT
 26,000 6,886
Gudang Garam Tbk PT
 1,600 7,888
Hanjaya Mandala Sampoerna Tbk PT
 32,600 8,892
Indah Kiat Pulp & Paper Corp. Tbk PT
 7,000 9,421
Indocement Tunggal Prakarsa Tbk PT
 5,800 7,357
Indofood Sukses Makmur Tbk PT
 16,000 8,147
Kalbe Farma Tbk PT
 56,200 5,541
Matahari Department Store Tbk PT
 9,000 5,927
Perusahaan Gas Negara Persero Tbk PT
 31,000 4,618
Semen Indonesia Persero Tbk PT
 11,400 6,892
Telekomunikasi Indonesia Persero Tbk PT
 141,400 35,821
Unilever Indonesia Tbk PT
 5,000 16,409
United Tractors Tbk PT
 4,600 11,603
    299,870
Malaysia — 3.4%
AMMB Holdings Bhd
 300 268
Axiata Group Bhd
 8,600 9,421
British American Tobacco Malaysia Bhd
 400 3,250
CIMB Group Holdings Bhd
 13,600 20,161
Dialog Group Bhd
 8,800 7,186
DiGi.Com Bhd
 10,200 11,328
Gamuda Bhd
 7,600 6,378
Genting Bhd
 6,800 15,018
Genting Malaysia Bhd
 9,200 11,512
Hartalega Holdings Bhd
 3,600 5,518
Hong Leong Bank Bhd
 2,600 12,530
IHH Healthcare Bhd
 6,000 9,045
IOI Corp. Bhd
 8,200 9,539
Kuala Lumpur Kepong Bhd
 2,000 12,513
Malayan Banking Bhd
 12,400 30,096
Malaysia Airports Holdings Bhd
 4,800 10,046
Maxis Bhd
 6,800 9,892
MISC Bhd
 6,000 8,849
Nestle Malaysia Bhd
 200 7,437
Petronas Chemicals Group Bhd
 6,800 13,754
Petronas Gas Bhd
 2,400 10,601
PPB Group Bhd
 2,200 11,011
Press Metal Aluminium Holdings Bhd
 3,000 3,565
 
 
85
  

iShares® MSCI Emerging Markets ex China ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Malaysia (continued)
Public Bank Bhd
   8,400 $     50,358
Sime Darby Bhd
   6,000       3,678
Sime Darby Plantation Bhd
   6,800       9,465
Sime Darby Property Bhd
  12,800       3,699
Tenaga Nasional Bhd
   9,800      35,457
YTL Corp. Bhd
  25,840      6,168
    347,743
Mexico — 3.9%
Alfa SAB de CV, Class A
 9,800 10,029
America Movil SAB de CV, Series L, NVS
 94,200 72,960
Arca Continental SAB de CV
 1,200 7,176
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Class B
 4,200 5,478
Cemex SAB de CV, CPO(a)
 40,400 23,942
Coca-Cola Femsa SAB de CV, Series L, NVS
 1,400 8,176
Fibra Uno Administracion SA de CV
 8,600 11,831
Fomento Economico Mexicano SAB de CV
 5,400 44,860
Gruma SAB de CV, Series B
 730 7,629
Grupo Aeroportuario del Pacifico SAB de CV, Series B
 1,200 10,190
Grupo Aeroportuario del Sureste SAB de CV, Class B
 770 12,184
Grupo Bimbo SAB de CV, Series A
 6,000 11,411
Grupo Financiero Banorte SAB de CV, Class O
 7,000 37,147
Grupo Financiero Inbursa SAB de CV, Class O
 7,000 9,853
Grupo Mexico SAB de CV, Class B
 9,800 24,250
Grupo Televisa SAB, CPO
 7,200 23,961
Industrias Penoles SAB de CV
 400 6,733
Infraestructura Energetica Nova SAB de CV
 1,200 4,997
Kimberly-Clark de Mexico SAB de CV, Class A
 5,000 8,292
Mexichem SAB de CV
 3,600 10,108
Promotora y Operadora de Infraestructura SAB de CV
 670 6,003
Wal-Mart de Mexico SAB de CV
 14,800 37,022
    394,232
Pakistan — 0.1%
Lucky Cement Ltd.
 1,350 6,380
Peru — 0.6%
Cia. de Minas Buenaventura SAA, ADR, NVS
 538 8,323
Credicorp Ltd.
 190 42,070
Southern Copper Corp.
 258 12,613
    63,006
Philippines — 1.4%
Aboitiz Equity Ventures Inc.
 7,300 8,032
Ayala Corp.
 790 14,135
Ayala Land Inc.
 26,000 19,697
BDO Unibank Inc.
 7,400 18,382
GT Capital Holdings Inc.
 360 6,647
JG Summit Holdings Inc.
 9,680 10,521
Jollibee Foods Corp.
 1,620 8,449
Metro Pacific Investments Corp.
 66,600 5,895
PLDT Inc.
 300 7,395
SM Investments Corp.
 720 11,896
SM Prime Holdings Inc.
 31,000 21,833
Universal Robina Corp.
 3,740 9,112
    141,994
Poland — 1.6%
Alior Bank SA(a)
 384 7,188
Bank Polska Kasa Opieki SA
 562 16,983
Bank Zachodni WBK SA
 122 11,442
CCC SA
 96 7,079
 Security Shares Value
Poland (continued)
CD Projekt SA
     194 $      7,719
KGHM Polska Miedz SA
     454      10,396
LPP SA
       4      10,185
mBank SA
      26       2,961
PGE Polska Grupa Energetyczna SA(a)
   3,406       9,059
Polski Koncern Naftowy ORLEN SA
     916      20,178
Polskie Gornictwo Naftowe i Gazownictwo SA
   6,568      10,154
Powszechna Kasa Oszczednosci Bank Polski SA(a)
   2,791      28,319
Powszechny Zaklad Ubezpieczen SA
 1,962 19,255
    160,918
Qatar — 1.0%
Commercial Bank PQSC (The)
 470 4,858
Ezdan Holding Group QSC(a)
 2,628 6,101
Industries Qatar QSC
 507 14,229
Masraf Al Rayan QSC
 1,254 11,491
Ooredoo QPSC
 320 5,879
Qatar Electricity & Water Co. QSC
 208 10,820
Qatar Insurance Co. SAQ
 660 5,952
Qatar Islamic Bank SAQ
 247 7,763
Qatar National Bank QPSC
 713 30,964
    98,057
Russia — 4.9%
Alrosa PJSC
 8,000 11,334
Gazprom PJSC
 29,640 68,955
Inter RAO UES PJSC
 118,000 7,724
LUKOIL PJSC
 1,244 84,008
Magnit PJSC, GDR, NVS(b)
 1,006 20,231
MMC Norilsk Nickel PJSC
 176 31,375
Mobile TeleSystems PJSC, ADR, NVS
 1,392 13,335
Moscow Exchange MICEX-RTS PJSC
 4,900 8,852
Novatek PJSC, GDR, NVS(b)
 254 36,601
Novolipetsk Steel PJSC
 4,620 12,093
Polyus PJSC
 62 3,730
Rosneft Oil Co. PJSC, GDR, NVS(b)
 3,122 19,044
RusHydro PJSC
 498,000 5,784
Sberbank of Russia PJSC, ADR
 7,118 102,357
Severstal PJSC
 500 8,045
Surgutneftegas OJSC
 20,000 9,187
Tatneft PJSC
 4,363 46,656
VTB Bank PJSC, GDR, NVS(b)
 4,038 6,408
X5 Retail Group NV, GDR(b)
 181 5,251
    500,970
South Africa — 9.5%
AngloGold Ashanti Ltd.
 1,138 9,702
Aspen Pharmacare Holdings Ltd.
 1,154 22,779
Barclays Africa Group Ltd.
 1,882 24,025
Bid Corp. Ltd.
 1,052 21,092
Bidvest Group Ltd. (The)
 852 13,589
Capitec Bank Holdings Ltd.
 116 8,009
Clicks Group Ltd.
 650 10,367
Discovery Ltd.
 1,012 12,317
Exxaro Resources Ltd.
 638 6,315
FirstRand Ltd.
 9,082 43,026
Fortress REIT Ltd., Series B
 3,383 3,953
Foschini Group Ltd. (The)
 688 10,008
Gold Fields Ltd.
 2,526 9,011
Growthpoint Properties Ltd.
 8,140 17,482
Hyprop Investments Ltd.
 880 7,191
Imperial Holdings Ltd.
 504 8,123
 
 
  
86

iShares® MSCI Emerging Markets ex China ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Africa (continued)
Investec Ltd.
     800 $      5,820
Life Healthcare Group Holdings Ltd.
   4,170       9,384
Mondi Ltd.
     360       9,969
Mr. Price Group Ltd.
     766      15,181
MTN Group Ltd.
   5,190      46,921
Naspers Ltd., Class N
   1,226     292,923
Nedbank Group Ltd.
     510      11,017
NEPI Rockcastle PLC
   1,104      10,809
Netcare Ltd.
 4,040 9,445
Pick n Pay Stores Ltd.
 884 5,249
PSG Group Ltd.
 428 7,360
Rand Merchant Investment Holdings Ltd.
 2,390 7,246
Redefine Properties Ltd.
 15,868 13,744
Reinet Investments SCA(a)
 408 7,680
Remgro Ltd.
 1,462 23,549
Resilient REIT Ltd.
 844 3,809
RMB Holdings Ltd.
 1,942 11,137
Sanlam Ltd.
 4,776 28,679
Sappi Ltd.
 1,684 11,067
Sasol Ltd.
 1,598 57,725
Shoprite Holdings Ltd.
 1,232 22,769
SPAR Group Ltd. (The)
 720 10,958
Standard Bank Group Ltd.
 3,732 61,115
Tiger Brands Ltd.
 488 12,943
Truworths International Ltd.
 1,290 8,564
Vodacom Group Ltd.
 1,542 17,472
Woolworths Holdings Ltd./South Africa
 3,244 14,943
    964,467
South Korea — 21.3%
Amorepacific Corp.
 98 30,229
AMOREPACIFIC Group
 96 11,221
BGF retail Co. Ltd.
 29 4,910
BNK Financial Group Inc.
 788 6,967
Celltrion Healthcare Co. Ltd.(a)
 97 8,981
Celltrion Inc.(a)
 226 55,664
Celltrion Pharm Inc.(a)
 44 3,804
CJ CheilJedang Corp.
 28 9,104
CJ Corp.
 52 7,139
CJ E&M Corp.
 54 4,539
Coway Co. Ltd.
 160 12,958
Daelim Industrial Co. Ltd.
 116 9,039
DB Insurance Co. Ltd.
 152 8,249
DGB Financial Group Inc.
 506 4,858
E-MART Inc.
 66 15,307
GS Holdings Corp.
 154 8,329
Hana Financial Group Inc.
 880 33,961
Hankook Tire Co. Ltd.
 246 9,779
Hanmi Pharm Co. Ltd.
 16 7,169
Hanon Systems
 638 5,978
Hanwha Chemical Corp.
 362 8,681
Hanwha Corp.
 104 3,473
HLB Inc.(a)
 86 11,010
Hotel Shilla Co. Ltd.
 92 10,583
Hyosung Corp.
 72 8,950
Hyundai Development Co. Engineering & Construction
 160 6,887
Hyundai Engineering & Construction Co. Ltd.
 232 15,884
Hyundai Glovis Co. Ltd.
 62 7,736
Hyundai Heavy Industries Co. Ltd.(a)
 110 11,684
Hyundai Heavy Industries Holdings Co. Ltd.(a)
 32 11,518
Hyundai Marine & Fire Insurance Co. Ltd.
 202 6,381
 Security Shares Value
South Korea (continued)
Hyundai Mobis Co. Ltd.
     198 $     40,043
Hyundai Motor Co.
     436      56,222
Hyundai Steel Co.
     242      13,874
Industrial Bank of Korea
     744      10,767
Kakao Corp.
     126      12,098
Kangwon Land Inc.
     378       9,415
KB Financial Group Inc.
   1,040      49,976
KCC Corp.
      26       8,309
KEPCO Plant Service & Engineering Co. Ltd.
 62 2,327
Kia Motors Corp.
 802 23,176
Korea Aerospace Industries Ltd.(a)
 232 9,470
Korea Electric Power Corp.
 766 23,557
Korea Investment Holdings Co. Ltd.
 126 10,976
Korea Zinc Co. Ltd.
 26 9,781
KT&G Corp.
 330 29,389
LG Chem Ltd.
 136 42,707
LG Corp.
 306 20,836
LG Display Co. Ltd.
 702 14,457
LG Electronics Inc.
 300 25,771
LG Household & Health Care Ltd.
 28 34,885
LG Innotek Co. Ltd.
 46 6,145
Lotte Chemical Corp.
 48 16,409
Lotte Corp.(a)
 78 4,240
Lotte Shopping Co. Ltd.
 35 7,273
Medy-Tox Inc.
 14 9,787
Mirae Asset Daewoo Co. Ltd.
 1,168 10,185
NAVER Corp.
 80 49,650
NCSoft Corp.
 52 17,029
Netmarble Corp.(c)
 68 9,904
NH Investment & Securities Co. Ltd.
 514 7,558
OCI Co. Ltd.
 46 5,654
Orion Corp./Republic of Korea
 58 6,968
POSCO
 222 69,919
Samsung Biologics Co. Ltd.(a)(c)
 46 18,563
Samsung C&T Corp.
 218 25,381
Samsung Electro-Mechanics Co. Ltd.
 162 20,138
Samsung Electronics Co. Ltd.
 13,254 623,385
Samsung Engineering Co. Ltd.(a)
 390 6,675
Samsung Fire & Marine Insurance Co. Ltd.
 92 21,379
Samsung Heavy Industries Co. Ltd.(a)
 1,178 8,185
Samsung Life Insurance Co. Ltd.
 220 21,021
Samsung SDI Co. Ltd.
 158 29,388
Samsung SDS Co. Ltd.
 100 19,574
Samsung Securities Co. Ltd.
 254 8,695
Shinhan Financial Group Co. Ltd.
 1,262 51,220
Shinsegae Inc.
 20 8,145
SillaJen Inc.(a)
 146 10,903
SK Holdings Co. Ltd.
 100 25,697
SK Hynix Inc.
 1,624 140,713
SK Innovation Co. Ltd.
 182 34,781
SK Telecom Co. Ltd.
 58 11,945
S-Oil Corp.
 126 12,566
ViroMed Co. Ltd.(a)
 38 9,342
Woori Bank
 1,004 14,250
Yuhan Corp.
 33 7,286
    2,158,961
Taiwan — 17.0%
Acer Inc.
 8,000 6,555
ASE Industrial Holding Co. Ltd.
 10,000 25,366
Asia Cement Corp.
 10,000 11,031
 
 
87
  

iShares® MSCI Emerging Markets ex China ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Taiwan (continued)
Asustek Computer Inc.
   2,000 $     18,123
AU Optronics Corp.
  26,000      11,411
Catcher Technology Co. Ltd.
   2,000      23,263
Cathay Financial Holding Co. Ltd.
  24,000      42,935
Chailease Holding Co. Ltd.
   4,000      14,285
Chang Hwa Commercial Bank Ltd.
  16,800       9,841
Cheng Shin Rubber Industry Co. Ltd.
   4,000       6,088
China Airlines Ltd.(a)
  11,000       3,726
China Development Financial Holding Corp.
 48,000 18,023
China Life Insurance Co. Ltd./Taiwan
 8,720 9,153
China Steel Corp.
 36,000 28,356
Chunghwa Telecom Co. Ltd.
 10,000 36,380
Compal Electronics Inc.
 16,000 10,520
CTBC Financial Holding Co. Ltd.
 44,000 31,721
Delta Electronics Inc.
 6,000 22,229
E.Sun Financial Holding Co. Ltd.
 26,074 18,188
Far Eastern New Century Corp.
 10,000 9,529
Far EasTone Telecommunications Co. Ltd.
 6,000 15,300
Feng TAY Enterprise Co. Ltd.
 2,000 8,878
First Financial Holding Co. Ltd.
 26,520 18,012
Formosa Chemicals & Fibre Corp.
 10,000 38,383
Formosa Petrochemical Corp.
 4,000 16,221
Formosa Plastics Corp.
 12,000 43,055
Foxconn Technology Co. Ltd.
 4,000 9,853
Fubon Financial Holding Co. Ltd.
 16,000 27,822
Hon Hai Precision Industry Co. Ltd.
 44,000 125,855
Hotai Motor Co. Ltd.
 600 5,477
Hua Nan Financial Holdings Co. Ltd.
 23,100 13,801
Innolux Corp.
 28,000 10,841
Inventec Corp.
 10,000 8,094
Largan Precision Co. Ltd.
 288 39,411
Lite-On Technology Corp.
 8,000 10,440
Macronix International(a)
 6,000 9,913
MediaTek Inc.
 4,000 41,587
Mega Financial Holding Co. Ltd.
 32,000 28,036
Micro-Star International Co. Ltd.
 2,000 8,344
Nan Ya Plastics Corp.
 14,000 39,110
Nanya Technology Corp.
 4,000 13,297
Novatek Microelectronics Corp.
 2,000 9,045
Pegatron Corp.
 6,000 12,676
Pou Chen Corp.
 8,000 9,799
Powertech Technology Inc.
 2,000 5,968
President Chain Store Corp.
 2,000 20,493
Quanta Computer Inc.
 8,000 14,151
Shin Kong Financial Holding Co. Ltd.
 26,000 10,413
SinoPac Financial Holdings Co. Ltd.
 39,470 14,623
Synnex Technology International Corp.
 2,000 3,204
Taishin Financial Holding Co. Ltd.
 35,460 17,457
Taiwan Cement Corp.
 10,000 14,552
Taiwan Cooperative Financial Holding Co. Ltd.
 24,720 14,562
Taiwan High Speed Rail Corp.
 8,000 6,181
Taiwan Mobile Co. Ltd.
 4,000 14,685
Taiwan Semiconductor Manufacturing Co. Ltd.
 68,000 508,386
Teco Electric and Machinery Co. Ltd.
 10,000 8,060
Uni-President Enterprises Corp.
 14,000 34,157
United Microelectronics Corp.
 36,000 20,006
Vanguard International Semiconductor Corp.
 2,000 4,379
Walsin Technology Corp.
 1,000 12,933
Win Semiconductors Corp.
 1,000 8,127
Winbond Electronics Corp.
 10,000 6,692
 Security Shares Value
Taiwan (continued)
Wistron Corp.
  10,296 $      7,749
WPG Holdings Ltd.
   8,000      11,615
Yageo Corp.
   1,000      31,741
Yuanta Financial Holding Co. Ltd.
  26,000     12,236
    1,722,343
Thailand — 3.5%
Advanced Info Service PCL, NVDR
   3,400      20,247
Airports of Thailand PCL, NVDR
  11,800      25,267
Bangkok Dusit Medical Services PCL, NVDR
 14,400 12,041
Banpu PCL, NVDR
 11,000 7,221
Berli Jucker PCL, NVDR
 5,400 9,622
Bumrungrad Hospital PCL, NVDR
 1,400 8,425
Central Pattana PCL, NVDR
 3,700 8,819
Charoen Pokphand Foods PCL, NVDR
 11,800 9,222
CP ALL PCL, NVDR
 14,800 37,359
Energy Absolute PCL, NVDR
 4,600 5,572
Indorama Ventures PCL, NVDR
 6,400 11,654
Kasikornbank PCL
 3,400 20,725
Kasikornbank PCL, NVDR
 2,400 14,367
Krung Thai Bank PCL, NVDR
 14,200 7,768
Minor International PCL, NVDR
 6,600 6,705
PTT Exploration & Production PCL, NVDR
 4,800 20,181
PTT Global Chemical PCL, NVDR
 7,400 20,645
PTT PCL, NVDR
 30,000 49,000
Siam Cement PCL (The), NVDR
 1,100 15,336
Siam Commercial Bank PCL (The), NVDR
 5,400 22,451
Thai Oil PCL, NVDR
 3,400 9,778
True Corp. PCL, NVDR
 35,600 7,957
    350,362
Turkey — 1.1%
Akbank Turk AS
 7,804 13,811
Arcelik AS
 1,020 3,736
BIM Birlesik Magazalar AS
 714 10,897
Eregli Demir ve Celik Fabrikalari TAS
 4,508 11,157
Haci Omer Sabanci Holding AS
 3,188 6,555
KOC Holding AS
 2,438 7,506
Petkim Petrokimya Holding AS
 3,454 3,585
Tupras Turkiye Petrol Rafinerileri AS
 408 9,540
Turk Hava Yollari AO(a)
 1,854 6,803
Turkcell Iletisim Hizmetleri AS
 3,628 9,595
Turkiye Garanti Bankasi AS
 7,000 13,746
Turkiye Halk Bankasi AS
 2,200 3,724
Turkiye Is Bankasi AS, Class C
 5,900 7,750
Turkiye Vakiflar Bankasi TAO, Class D
 3,800 4,581
    112,986
United Arab Emirates — 0.9%
Abu Dhabi Commercial Bank PJSC
 6,136 11,744
Aldar Properties PJSC
 17,462 9,746
DAMAC Properties Dubai Co. PJSC
 7,026 4,571
DP World Ltd.
 546 12,285
Dubai Islamic Bank PJSC
 3,200 4,417
Emaar Properties PJSC
 10,876 15,397
Emirates Telecommunications Group Co. PJSC
 5,602 24,707
First Abu Dhabi Bank PJSC
 4,000 13,394
    96,261
Total Common Stocks — 82.2%

(Cost: $8,208,622)
 8,331,854
 
 
  
88

iShares® MSCI Emerging Markets ex China ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Investment Companies
India — 12.5%
iShares MSCI India ETF(d)
  37,681 $  1,267,965
Total Investment Companies — 12.5%

(Cost: $1,268,884)
 1,267,965
Preferred Stocks
Brazil — 3.3%
Banco Bradesco SA, Preference Shares, NVS
   9,680      75,822
Braskem SA, Class A, Preference Shares, NVS
     400       4,876
Cia. Brasileira de Distribuicao, Preference Shares, NVS
     600      12,809
Cia. Energetica de Minas Gerais, Preference Shares, NVS
 3,708 7,637
Gerdau SA, Preference Shares, NVS
 3,000 11,923
Itau Unibanco Holding SA, Preference Shares, NVS
 9,200 106,179
Itausa-Investimentos Itau SA, Preference Shares, NVS
 12,077 36,419
Lojas Americanas SA, Preference Shares, NVS
 2,400 11,452
Petroleo Brasileiro SA, Preference Shares, NVS
 10,800 55,043
Telefonica Brasil SA, Preference Shares, NVS
 1,200 14,661
    336,821
Chile — 0.2%
Embotelladora Andina SA, Class B, Preference Shares
 1,708 7,379
Sociedad Quimica y Minera de Chile SA, Series B, Preference Shares
 280 14,583
    21,962
Colombia — 0.1%
Bancolombia SA, Preference Shares, NVS
 922 10,695
Russia — 0.1%
Surgutneftegas OJSC, Preference Shares, NVS
 20,000 9,781
South Korea — 1.1%
Hyundai Motor Co.    
Preference Shares, NVS
 56 4,645
Series 2, Preference Shares, NVS
 86 7,539
 Security Shares Value
South Korea (continued)
Samsung Electronics Co. Ltd., Preference Shares, NVS
   2,500 $     93,928
    106,112
Total Preferred Stocks — 4.8%

(Cost: $478,144)
 485,371
Rights
United Arab Emirates — 0.0%
Dubai Islamic Bank PJSC, NVS (Expires 06/06/18)(a)
   1,066        569
Total Rights — 0.0%

(Cost: $0)
 569
Short-Term Investments
Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
 11,614 11,614
Total Short-Term Investments — 0.1%

(Cost: $11,614)
 11,614
Total Investments in Securities — 99.6%

(Cost: $9,967,264)
 10,097,373
Other Assets, Less Liabilities — 0.4%
 39,714
Net Assets — 100.0%
 $ 10,137,087
    
(a) Non-income producing security.
(b) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(c) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
07/18/17 		Shares
Purchased 		Shares
Sold 		Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares
 15,969 — (4,355) (a) 11,614 $ 11,614   $ 100   $ —   $ —
iShares MSCI India ETF
 36,404 1,714 (437) 37,681 1,267,966   9,890   295   (18,393)
iShares MSCI Qatar Capped ETF
 5,430 — (5,430) — —   —   (19,411)   5,702
          $1,279,580   $ 9,990   $ (19,116)   $ (12,691)
    
(a) Net of purchases and sales.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
89
  

iShares® MSCI Emerging Markets ex China ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $ 8,217,960   $    113,894   $        —   $ 8,331,854
Investment Companies
  1,267,965           —           —     1,267,965
Preferred Stocks
    485,371           —           —       485,371
Rights
         —          569           —           569
Money Market Funds
     11,614           —           —       11,614
  $ 9,982,910   $    114,463   $        —   $10,097,373
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
CPO
 Certificates of Participation (Ordinary)
GDR
 Global Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
  
90

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Brazil — 4.0%
AES Tiete Energia SA, NVS
     66,500 $     178,033
Aliansce Shopping Centers SA
     41,600      169,459
Alupar Investimento SA, Units, NVS
     69,908      293,219
Anima Holding SA
     18,800       94,403
Arezzo Industria e Comercio SA
     19,600      224,997
B2W Cia. Digital(a)
     85,823      584,206
BK Brasil Operacao e Assessoria a Restaurantes SA(a)
     64,300      284,891
BR Properties SA
 64,841 133,197
Cia. de Gas de Sao Paulo - COMGAS, NVS
 160 2,463
Cia. de Saneamento de Minas Gerais-COPASA
 27,800 322,488
Cia. Hering
 60,400 275,397
Cosan Logistica SA(a)
 66,422 179,073
CVC Brasil Operadora e Agencia de Viagens SA
 68,100 932,614
Cyrela Brazil Realty SA Empreendimentos e Participacoes
 119,300 374,489
Dommo Energia SA(a)
 561,100 248,604
Duratex SA
 133,700 350,042
EcoRodovias Infraestrutura e Logistica SA
 108,400 229,954
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA
 52,600 494,354
Estacio Participacoes SA
 122,900 829,993
Ez Tec Empreendimentos e Participacoes SA
 25,344 122,431
Fleury SA
 84,400 557,069
Guararapes Confeccoes SA
 3,700 108,008
Iguatemi Empresa de Shopping Centers SA
 41,700 351,825
Instituto Hermes Pardini SA
 23,700 126,326
Iochpe Maxion SA
 44,305 283,030
Light SA
 37,200 123,366
Linx SA
 55,400 282,649
Magnesita Refratarios SA
 13,300 240,675
Mahle-Metal Leve SA
 17,700 128,328
Marfrig Global Foods SA(a)
 102,300 217,288
Minerva SA
 46,200 87,833
MRV Engenharia e Participacoes SA
 128,400 464,427
Multiplus SA
 24,000 167,560
QGEP Participacoes SA
 40,000 130,933
Qualicorp SA
 115,100 588,782
Santos Brasil Participacoes SA
 144,100 106,410
Sao Martinho SA
 84,800 398,946
Ser Educacional SA(b)
 34,435 159,875
SLC Agricola SA
 26,900 327,216
Smiles Fidelidade SA
 29,300 458,455
TOTVS SA
 56,400 424,812
Transmissora Alianca de Energia Eletrica SA, NVS
 106,100 548,157
Tupy SA
 24,400 117,609
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA
 32,440 158,365
Via Varejo SA
 66,300 415,705
Wiz Solucoes e Corretagem de Seguros SA
 32,000 65,305
    13,363,261
Chile — 1.5%
AES Gener SA
 1,479,538 386,079
Besalco SA
 181,317 200,189
CAP SA
 33,523 348,893
Cia. Sud Americana de Vapores SA(a)
 6,390,975 246,264
Engie Energia Chile SA
 233,334 468,319
Forus SA
 42,955 148,960
Inversiones Aguas Metropolitanas SA
 199,178 325,759
Inversiones La Construccion SA
 16,855 294,585
 Security Shares Value
Chile (continued)
Parque Arauco SA
    252,080 $     728,028
Ripley Corp. SA
    317,700      318,256
Salfacorp SA
    173,804      306,134
SMU SA(a)
  1,143,309      357,528
Sociedad de Inversiones Oro Blanco SA
 14,245,982      141,927
SONDA SA
    244,454      398,803
Vina Concha y Toro SA
    173,638     370,798
    5,040,522
China — 14.4%
21Vianet Group Inc., GDR(a)
 32,479 268,601
361 Degrees International Ltd.
 310,000 97,614
500.com Ltd., ADR(a)(c)
 8,114 154,977
AGTech Holdings Ltd.(a)(c)
 1,952,000 228,940
Ajisen China Holdings Ltd.
 367,000 149,249
Anton Oilfield Services Group/Hong Kong(a)
 896,000 141,639
Anxin-China Holdings Ltd.(a)(d)
 1,084,000 17,965
APT Satellite Holdings Ltd.
 117,000 52,503
Asia Cement China Holdings Corp.
 265,000 160,470
AVIC International Holding HK Ltd.(a)(c)
 2,134,000 85,696
AVIC International Holdings Ltd., Class H
 128,000 84,527
Baozun Inc., ADR(a)(c)
 16,499 1,011,554
Beijing Capital Land Ltd., Class H
 442,000 228,772
Beijing Enterprises Medical & Health Group Ltd.(a)
 2,208,000 118,223
Beijing Gas Blue Sky Holdings Ltd.(a)(c)
 4,304,000 296,292
Beijing Sports and Entertainment Industry Group Ltd., NVS
 345,000 127,107
Beijing Tong Ren Tang Chinese Medicine Co. Ltd.(c)
 130,000 275,772
Best Pacific International Holdings Ltd.(c)
 146,000 55,838
Bitauto Holdings Ltd., ADR(a)(c)
 11,152 278,019
Boshiwa International Holding Ltd.(a)(d)
 32,000 204
Bosideng International Holdings Ltd.
 2,428,000 272,386
Boyaa Interactive International Ltd.(a)
 137,000 47,855
C C Land Holdings Ltd.
 937,000 213,819
C.banner International Holdings Ltd.(a)(c)
 498,000 147,924
Canvest Environment Protection Group Co. Ltd.(c)
 349,000 192,204
Capital Environment Holdings Ltd.(a)(c)
 2,824,000 88,923
Carnival Group International Holdings Ltd.(a)(c)
 3,777,500 166,141
Central China Real Estate Ltd.
 350,000 189,632
CGN Meiya Power Holdings Co. Ltd.(a)(b)
 838,000 148,495
Changyou.com Ltd., ADR
 7,380 138,227
Chaowei Power Holdings Ltd.(c)
 310,000 180,211
China Aerospace International Holdings Ltd.
 2,882,000 308,622
China Aircraft Leasing Group Holdings Ltd.
 233,000 246,540
China Animal Healthcare Ltd.(a)(c)(d)
 126,000 1,285
China Aoyuan Property Group Ltd.(c)
 548,000 447,110
China Beidahuang Industry Group Holdings Ltd.(a)
 620,000 23,712
China BlueChemical Ltd., Class H
 800,000 267,205
China Chengtong Development Group Ltd.(a)
 798,000 34,080
China Datang Corp. Renewable Power Co. Ltd., Class H
 1,203,000 251,515
China Dongxiang Group Co. Ltd.
 1,922,000 365,085
China Electronics Huada Technology Co. Ltd.(c)
 560,000 86,383
China Electronics Optics Valley Union Holding Co Ltd.
 2,732,000 229,868
China Everbright Greentech Ltd., Class L(b)
 301,000 336,143
China Fangda Group Co. Ltd., Class B
 386,300 216,686
China Foods Ltd.
 404,000 202,923
China Goldjoy Group Ltd.(c)
 3,428,000 222,877
China Grand Pharmaceutical and Healthcare Holdings Ltd., Class A(a)
 416,000 327,745
China Greenland Broad Greenstate Group Co. Ltd.(c)
 492,000 67,740
China Harmony New Energy Auto Holding Ltd.(a)(c)
 352,000 181,292
 
 
91
  

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
China High Speed Transmission Equipment Group Co. Ltd.(c)
    232,000 $     340,126
China Huiyuan Juice Group Ltd.(a)
    379,000       97,599
China Innovationpay Group Ltd.(a)(c)
  2,740,000      328,347
China Internet Nationwide Financial Services Inc.(a)(c)
      3,602       85,872
China Investment Fund International Holdings Co. Ltd.(a)
    368,000      375,781
China Lesso Group Holdings Ltd.
      2,000        1,410
China Lilang Ltd.
    221,000      332,452
China Logistics Property Holdings Co. Ltd.(a)(b)(c)
    558,000      200,603
China Lumena New Materials Corp.(a)(c)(d)
 210,000 —
China Maple Leaf Educational Systems Ltd.
 344,000 655,184
China Merchants Land Ltd.(c)
 920,000 180,619
China Metal Recycling Holdings Ltd., NVS(a)(d)
 12,000 —
China Metal Resources Utilization Ltd.(a)(b)(c)
 408,000 256,946
China Modern Dairy Holdings Ltd.(a)
 692,000 132,328
China New Higher Education Group Ltd.(b)
 238,000 239,694
China NT Pharma Group Co. Ltd.
 263,500 72,223
China Oil & Gas Group Ltd.
 2,670,000 211,036
China Overseas Grand Oceans Group Ltd.
 699,000 303,868
China Overseas Property Holdings Ltd.(c)
 590,000 230,159
China Power Clean Energy Development Co. Ltd.
 354,000 195,409
China Regenerative Medicine International Ltd.(a)
 4,960,000 88,525
China Resources Phoenix Healthcare Holdings Co. Ltd.(c)
 432,000 552,932
China Sanjiang Fine Chemicals Co. Ltd.
 415,000 168,240
China SCE Property Holdings Ltd.
 772,000 407,448
China Shengmu Organic Milk Ltd.(a)(b)(c)
 1,777,000 183,496
China Shineway Pharmaceutical Group Ltd.(c)
 133,000 289,597
China Silver Group Ltd.
 496,000 95,480
China Singyes Solar Technologies Holdings Ltd.(c)
 306,000 114,689
China Suntien Green Energy Corp. Ltd., Class H
 787,000 275,906
China Water Affairs Group Ltd.
 392,000 385,796
China Water Industry Group Ltd.(a)(c)
 900,000 181,282
China Yuchai International Ltd.
 8,885 204,799
China Yuhua Education Corp Ltd., Class L(b)(c)
 550,000 403,167
China ZhengTong Auto Services Holdings Ltd.(c)
 513,500 443,183
Chinasoft International Ltd.(c)
 896,000 753,887
Chongqing Machinery & Electric Co. Ltd., Class H
 1,942,000 180,728
CIMC Enric Holdings Ltd.
 292,000 344,705
CITIC Resources Holdings Ltd.(c)
 1,868,000 216,707
Citychamp Watch & Jewellery Group Ltd.(c)
 764,000 160,706
COFCO Meat Holdings Ltd.(a)(c)
 930,000 154,128
Cogobuy Group(b)(c)
 276,000 142,149
Colour Life Services Group Co. Ltd.(c)
 169,000 164,817
Comba Telecom Systems Holdings Ltd.(c)
 858,894 137,963
Concord New Energy Group Ltd.
 5,320,000 250,939
Consun Pharmaceutical Group Ltd.
 197,000 221,257
Coolpad Group Ltd.(a)(d)
 1,024,000 7,833
COSCO SHIPPING International Hong Kong Co. Ltd.(c)
 564,000 235,834
Cosmo Lady China Holdings Co. Ltd.(b)(c)
 268,000 151,354
CPMC Holdings Ltd.
 230,000 146,020
CT Environmental Group Ltd.(c)
 1,036,000 146,601
Dah Chong Hong Holdings Ltd.(c)
 436,000 234,559
Daqo New Energy Corp., ADR(a)
 4,587 264,486
Dawnrays Pharmaceutical Holdings Ltd.
 278,000 171,886
Dazhong Transportation Group Co. Ltd., Class B
 215,600 103,272
Digital China Holdings Ltd.(a)(c)
 375,000 244,768
Dongyue Group Ltd.(d)
 534,000 490,149
eHi Car Services Ltd., ADR(a)
 19,483 258,150
Fanhua Inc., ADR
 18,047 522,822
Fantasia Holdings Group Co. Ltd.(c)
 922,500 166,997
 Security Shares Value
China (continued)
FDG Electric Vehicles Ltd.(a)(c)
  7,330,000 $     145,775
Fu Shou Yuan International Group Ltd.(c)
    435,000      484,680
Fufeng Group Ltd.(c)
    686,400      388,521
GCL New Energy Holdings Ltd.(a)(c)
  3,232,000      175,111
Gemdale Properties & Investment Corp. Ltd.
  2,628,000      311,575
Glorious Property Holdings Ltd.(a)
  1,277,000       91,166
Grand Baoxin Auto Group Ltd.(a)
    333,000      146,884
Greatview Aseptic Packaging Co. Ltd.
    408,000      305,318
Greenland Hong Kong Holdings Ltd.
 413,000 196,914
Greentown Service Group Co. Ltd.(c)
 458,000 472,938
Ground International Development Ltd.(a)(c)
 605,000 108,750
Guorui Properties Ltd.(c)
 452,000 142,904
Haichang Ocean Park Holdings Ltd.(a)(b)
 759,000 208,034
Hangzhou Steam Turbine Co. Ltd., Class B
 125,380 113,326
Harbin Electric Co. Ltd., Class H
 414,000 143,557
HC International Inc.(c)
 252,000 166,412
Hi Sun Technology China Ltd.(a)
 936,000 173,021
Honghua Group Ltd.(a)(c)
 1,232,000 125,648
Hua Han Health Industry Holdings Ltd., Class H(a)(d)
 1,112,400 63,816
Hua Hong Semiconductor Ltd.(b)(c)
 159,000 385,128
Huabao International Holdings Ltd.(c)
 427,000 281,976
Huangshi Dongbei Electrical Appliance Co. Ltd., Class B
 69,200 86,708
Huanxi Media Group Ltd.(a)(c)
 530,000 133,106
Huayi Tencent Entertainment Co. Ltd.(a)(c)
 3,130,000 223,453
IGG Inc.(c)
 430,000 675,357
iKang Healthcare Group Inc., ADR(a)(c)
 23,155 471,899
IMAX China Holding Inc.(b)
 65,600 232,071
JA Solar Holdings Co. Ltd., ADR(a)(c)
 22,887 165,702
Jinchuan Group International Resources Co. Ltd.(a)
 752,000 138,049
JinkoSolar Holding Co. Ltd., ADR(a)(c)
 12,687 223,545
JNBY Design Ltd.
 93,500 224,567
Jumei International Holding Ltd., ADR(a)(c)
 29,622 77,017
Jupai Holdings Ltd., NVS
 6,501 154,204
Kama Co. Ltd., Class B(a)
 125,500 80,320
Kong Sun Holdings Ltd.(a)
 2,600,000 74,578
Konka Group Co. Ltd., Class B(a)
 370,400 143,548
KuangChi Science Ltd.(a)
 116,000 16,858
Lao Feng Xiang Co. Ltd., Class B
 42,500 141,610
Launch Tech Co. Ltd.
 62,500 74,897
Lee's Pharmaceutical Holdings Ltd.(c)
 145,000 236,979
Li Ning Co. Ltd.(a)
 781,000 937,899
Lifestyle China Group Ltd.(a)
 341,000 161,715
Lifetech Scientific Corp.(a)(c)
 1,090,000 398,807
Lonking Holdings Ltd.
 847,000 424,356
Luthai Textile Co. Ltd., Class B
 164,200 194,466
Nam Tai Property Inc.
 17,201 210,712
National Agricultural Holdings Ltd.(a)(c)(d)
 354,000 40,165
NetDragon Websoft Holdings Ltd.(c)
 91,500 240,294
New Provenance Everlasting Holdings Ltd.(a)
 4,350,000 42,701
North Mining Shares Co. Ltd.(a)(c)
 5,940,000 96,171
O-Net Technologies Group Ltd.(a)(c)
 189,000 120,954
Panda Green Energy Group Ltd.(a)(c)
 1,828,000 193,423
PAX Global Technology Ltd.(c)
 455,000 232,020
Phoenix Media Investment Holdings Ltd.
 690,000 61,575
Phoenix New Media Ltd., ADR(a)
 4,021 22,156
Poly Property Group Co. Ltd.(a)
 929,000 447,674
Pou Sheng International Holdings Ltd.
 912,000 170,909
Powerlong Real Estate Holdings Ltd.
 548,000 329,744
Q Technology Group Co. Ltd.(c)
 186,000 158,159
Realord Group Holdings Ltd.(a)(c)
 202,000 117,685
 
 
  
92

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
China (continued)
Redco Group(b)
    394,000 $     224,521
Renhe Commercial Holdings Co. Ltd.(a)
  6,222,000      131,672
Road King Infrastructure Ltd.
    102,000      197,130
Ronshine China Holdings Ltd.(a)
    225,500      331,747
Sany Heavy Equipment International Holdings Co. Ltd.
    467,000      148,837
Seaspan Corp.(c)
     27,591      242,249
Shandong Airlines Co. Ltd., Class B
     65,400      118,058
Shang Gong Group Co. Ltd., Class B(a)
    313,300      253,460
Shanghai Baosight Software Co. Ltd., Class B
 41,500 67,852
Shanghai Dasheng Agricultural Finance Technology Co. Ltd.
 24,000 229
Shanghai Haixin Group Co., Class B
 250,200 137,360
Shanghai Haohai Biological Technology Co. Ltd.(b)
 22,900 166,842
Shanghai Industrial Urban Development Group Ltd.
 876,000 188,732
Shanghai Jinjiang International Industrial Investment Co. Ltd., Class B
 196,800 228,682
Shanghai Jinjiang International Travel Co. Ltd., Class B
 100 227
Shanghai Lingyun Industries Development Co. Ltd., Class B(a)
 83,181 58,227
Shanghai Shibei Hi-Tech Co. Ltd., Class B
 154,184 60,440
Shanghai Zhongyida Co. Ltd.(a)
 324,600 86,019
Shougang Concord International Enterprises Co. Ltd.(a)(c)
 5,030,415 144,291
Shougang Fushan Resources Group Ltd.
 1,044,000 262,193
Silver Grant International Industries Ltd.(a)
 804,000 201,919
Sino Oil And Gas Holdings Ltd.(a)
 3,890,000 20,332
Sinolink Worldwide Holdings Ltd.(a)
 1,020,000 131,333
Sinopec Kantons Holdings Ltd.
 492,000 264,059
Sinosoft Technology Group Ltd.(c)
 310,800 143,431
Sinotrans Shipping Ltd.(c)
 716,000 196,248
Skyfame Realty Holdings Ltd.(a)
 344,000 256,548
SMI Holdings Group Ltd.(c)
 680,800 301,164
Sohu.com Inc.(a)
 14,256 516,923
Suncity Group Holdings Ltd.(a)
 880,000 161,547
Superb Summit International Group Ltd.(a)(c)(d)
 238,250 443
Tarena International Inc., ADR
 15,560 149,532
TCL Multimedia Technology Holdings Ltd.(c)
 268,000 132,562
Texhong Textile Group Ltd.
 115,000 199,677
Tian Ge Interactive Holdings Ltd.(b)(c)
 238,000 212,388
Tianjin Development Holdings Ltd.
 446,000 199,570
Tianjin Port Development Holdings Ltd.
 1,884,000 269,000
Tianneng Power International Ltd.
 310,000 481,352
Tibet Water Resources Ltd.(a)(c)
 987,000 424,034
Tongda Group Holdings Ltd.(c)
 1,660,000 395,734
TPV Technology Ltd.
 252,000 30,841
Truly International Holdings Ltd.(c)
 740,000 154,714
Universal Medical Financial & Technical Advisory Services Co. Ltd.(b)(c)
 426,500 388,214
Vinda International Holdings Ltd.(c)
 107,000 191,789
Viva China Holdings Ltd.(a)
 1,352,000 163,740
Wasion Group Holdings Ltd.
 278,000 162,672
West China Cement Ltd.
 1,184,000 221,882
Wisdom Education International Holdings Co. Ltd.(c)
 290,000 253,985
Xiamen International Port Co. Ltd., Class H
 1,406,000 259,901
Xingda International Holdings Ltd.
 456,000 163,352
Xinjiang Xinxin Mining Industry Co. Ltd., Class H(a)
 471,000 73,855
Xinyuan Real Estate Co. Ltd., ADR
 22,286 119,676
Xtep International Holdings Ltd.
 452,000 287,537
Xunlei Ltd., ADR(a)
 12,910 159,697
Yadea Group Holdings Ltd.(b)
 490,000 181,154
 Security Shares Value
China (continued)
YiChang HEC ChangJiang Pharmaceutical Co. Ltd., Class H(b)
     48,400 $     265,319
Yihai International Holding Ltd.(c)
    192,000      354,425
Yuexiu REIT
    615,000      430,429
Yuexiu Transport Infrastructure Ltd.
    432,000      340,350
Zhuguang Holdings Group Co. Ltd.(a)(c)
  1,072,000     209,093
    48,270,199
Colombia — 0.3%
Almacenes Exito SA
     83,664      477,996
Cemex Latam Holdings SA(a)
 86,128 265,422
Corp. Financiera Colombiana SA
 35,025 304,892
    1,048,310
Czech Republic — 0.0%
Central European Media Enterprises Ltd. AS Class A(a)(c)
 33,144 127,677
Egypt — 0.6%
Alexandria Mineral Oils Co.
 211,394 147,545
Egyptian Financial Group-Hermes Holding Co.
 219,164 280,584
Ezz Steel(a)
 88,085 127,094
Global Telecom Holding SAE(a)
 95,726 26,051
Heliopolis Housing
 58,049 99,846
Juhayna Food Industries
 200,233 139,531
Medinet Nasr Housing
 317,201 188,424
Oriental Weavers
 104,075 81,597
Palm Hills Developments SAE(a)
 718,916 193,238
Pioneers Holding For Financial Investments SAE(a)
 199,588 89,672
Sidi Kerir Petrochemicals Co.
 82,825 135,843
Six of October Development & Investment(a)
 93,147 129,557
Talaat Moustafa Group
 449,969 301,237
Telecom Egypt Co.
 175,908 144,599
    2,084,818
Greece — 0.8%
Aegean Airlines SA
 25,886 261,375
GEK Terna Holding Real Estate Construction SA(a)
 52,135 321,326
Grivalia Properties REIC AE
 29,634 321,703
Hellenic Exchanges-Athens Stock Exchange SA
 60,090 347,909
Motor Oil Hellas Corinth Refineries SA
 28,286 572,536
Mytilineos Holdings SA(a)
 54,962 582,547
Public Power Corp. SA(a)
 56,032 131,466
Terna Energy SA
 21,236 121,961
    2,660,823
Hungary — 0.1%
Magyar Telekom Telecommunications PLC
 198,998 301,548
India — 15.1%
Aarti Industries
 10,899 200,997
Adani Green Energy Ltd.(a)
 89,049 10,959
Adani Power Ltd.(a)
 456,546 136,323
Aditya Birla Fashion and Retail Ltd.(a)
 112,130 246,418
Aegis Logistics Ltd.
 41,214 166,731
AIA Engineering Ltd.
 20,109 459,573
Ajanta Pharma Ltd.(a)
 13,464 192,006
Alembic Pharmaceuticals Ltd.
 30,034 190,265
Allcargo Logistics Ltd.
 36,014 66,550
Amara Raja Batteries Ltd.
 18,443 218,217
Apollo Hospitals Enterprise Ltd.
 38,440 541,347
Apollo Tyres Ltd.
 115,934 462,654
Arvind Ltd.
 69,533 399,944
Asahi India Glass Ltd.
 29,503 151,554
Astral Polytechnik Ltd.
 14,570 223,486
 
 
93
  

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
India (continued)
Avanti Feeds Ltd.
      5,422 $     131,194
Balkrishna Industries Ltd.
     34,386      578,140
BASF India Ltd.
      6,406      192,439
Bata India Ltd.
     21,042      243,059
Bayer CropScience Ltd./India
      4,556      312,096
Birla Corp. Ltd.
      9,935      109,277
Blue Dart Express Ltd.
      3,465      177,141
Can Fin Homes Ltd.
     17,330       97,291
Canara Bank
 65,415 249,272
Capital First Ltd.
 28,991 245,199
Care Ratings Ltd.
 12,139 233,192
Ceat Ltd.
 11,350 229,052
Century Plyboards India Ltd.
 39,224 162,371
Century Textiles & Industries Ltd.
 17,844 250,449
CESC Ltd.
 30,580 461,900
CG Power and Industrial Solutions Ltd.(a)
 239,216 218,009
City Union Bank Ltd.
 59,344 172,670
Coromandel International Ltd.
 39,327 262,802
Cox & Kings Ltd.
 54,739 174,805
CRISIL Ltd.
 8,870 225,429
Crompton Greaves Consumer Electricals Ltd.
 168,260 565,376
Dalmia Bharat Ltd.
 9,374 378,724
DCB Bank Ltd.
 85,007 233,294
Dewan Housing Finance Corp. Ltd.
 63,672 578,528
Dilip Buildcon Ltd.(b)
 17,122 211,188
Dish TV India Ltd.(a)
 316,288 342,148
Dr Lal PathLabs Ltd.(b)
 11,564 147,586
eClerx Services Ltd.
 13,667 267,669
Edelweiss Financial Services Ltd.
 204,213 987,437
EID Parry India Ltd.(a)
 63,223 221,853
EIH Ltd.
 80,071 209,722
Endurance Technologies Ltd.(b)
 14,403 279,491
Engineers India Ltd.
 110,178 214,699
Eris Lifesciences Ltd.(a)(b)
 15,226 181,992
Escorts Ltd.
 26,488 366,002
Exide Industries Ltd.
 113,592 437,148
Federal Bank Ltd.
 645,938 811,700
Finolex Cables Ltd.
 42,648 432,974
Fortis Healthcare Ltd.(a)
 158,372 345,340
Future Lifestyle Fashions Ltd.
 28,874 191,709
Gateway Distriparks Ltd.
 8,098 22,248
Gayatri Highways Ltd., NVS(a)
 79,435 10,606
Gayatri Projects Ltd.(a)
 72,596 202,515
GE T&D India Ltd.
 39,461 181,100
Gillette India Ltd.
 3,847 374,675
GMR Infrastructure Ltd.(a)
 981,624 264,016
Godfrey Phillips India Ltd.
 11,824 131,990
Godrej Industries Ltd.
 35,039 309,825
Godrej Properties Ltd.(a)
 24,843 269,129
Graphite India Ltd.
 21,929 288,709
Great Eastern Shipping Co. Ltd. (The)
 47,190 229,927
GRUH Finance Ltd.
 40,055 421,310
Gujarat Fluorochemicals Ltd.
 17,406 202,246
Gujarat Gas Ltd.
 20,317 260,742
Gujarat Mineral Development Corp. Ltd.
 75,417 129,807
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.
 22,772 161,082
Gujarat Pipavav Port Ltd.
 123,038 210,495
Gujarat State Petronet Ltd.
 82,653 219,669
HEG Ltd.
 4,077 213,944
Hexaware Technologies Ltd.
 50,505 328,630
 Security Shares Value
India (continued)
Hindustan Construction Co. Ltd.(a)
    269,032 $      59,003
Housing Development & Infrastructure Ltd.(a)
    143,961       56,533
IDFC Bank Ltd.
    779,186      469,942
IDFC Ltd.
    445,358      334,270
IIFL Holdings Ltd.
     47,180      488,981
India Cements Ltd. (The)
    115,568      222,547
Indiabulls Real Estate Ltd.(a)
    105,906      295,201
Indiabulls Ventures Ltd.
     61,220      423,934
Indian Bank
 37,617 190,001
Indian Hotels Co. Ltd. (The)
 236,060 496,554
Indraprastha Gas Ltd.
 89,975 353,327
Infibeam Incorporation Ltd.
 59,959 151,136
Info Edge India Ltd.
 26,928 506,677
Inox Leisure Ltd.(a)
 15,921 63,382
Ipca Laboratories Ltd.
 24,539 243,781
IRB Infrastructure Developers Ltd.
 77,218 263,754
Jain Irrigation Systems Ltd.
 196,365 301,317
Jaiprakash Associates Ltd.(a)
 503,425 113,020
Jammu & Kashmir Bank Ltd. (The)(a)
 106,156 92,891
Jindal Steel & Power Ltd.(a)
 142,585 485,020
JK Cement Ltd.
 11,053 153,980
JM Financial Ltd.
 107,340 217,996
JSW Energy Ltd.
 168,299 205,129
Jubilant Foodworks Ltd.
 14,568 541,552
Jubilant Life Sciences Ltd.
 31,687 370,576
Just Dial Ltd.(a)
 19,391 168,286
Kajaria Ceramics Ltd.
 29,767 242,234
Karnataka Bank Ltd. (The)
 11,877 21,111
Karur Vysya Bank Ltd. (The)
 159,440 248,318
Kaveri Seed Co. Ltd.
 24,731 196,415
KEC International Ltd.
 33,570 179,634
KPIT Technologies Ltd.
 77,369 317,696
KRBL Ltd.
 25,548 203,263
Lakshmi Machine Works Ltd.
 1,549 188,011
Larsen & Toubro Infotech Ltd.(b)
 14,855 383,182
Laurus Labs Ltd.(b)
 35,370 247,366
Magma Fincorp Ltd.
 45,214 118,156
Mahanagar Gas Ltd.
 13,340 161,891
Mahindra CIE Automotive Ltd.(a)
 61,198 219,282
Manappuram Finance Ltd.
 193,146 308,255
Marksans Pharma Ltd.
 69,091 29,742
Max Financial Services Ltd.(a)
 60,347 438,278
Max India Ltd.(a)
 137,800 172,754
Minda Industries Ltd.
 10,284 194,700
Mindtree Ltd.
 44,591 666,032
MOIL Ltd.
 7,327 20,266
Motilal Oswal Financial Services Ltd.
 15,957 216,811
Mphasis Ltd.
 33,920 553,467
Muthoot Finance Ltd.
 43,201 249,446
Natco Pharma Ltd.
 39,669 474,858
National Aluminium Co. Ltd.
 215,181 224,643
NBCC India Ltd.
 246,601 336,561
NCC Ltd./India
 221,829 394,301
NIIT Technologies Ltd.
 13,299 220,151
Oberoi Realty Ltd.
 54,130 406,642
Page Industries Ltd.
 2,562 957,554
PC Jeweller Ltd.
 71,983 176,857
Persistent Systems Ltd.
 19,698 230,030
Pfizer Ltd./India
 5,483 202,400
Phoenix Mills Ltd. (The)
 27,684 285,322
 
 
  
94

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
India (continued)
PI Industries Ltd.
     24,817 $     311,470
Power Finance Corp. Ltd.
    345,842      412,812
Prestige Estates Projects Ltd.
     49,096      180,429
PVR Ltd.
     10,802      211,766
Quess Corp. Ltd.(a)(b)
     12,393      215,501
Radico Khaitan Ltd.
     26,181      178,620
Rain Industries Ltd.
     38,068      132,229
Rajesh Exports Ltd.
     38,640      345,760
Ramco Cements Ltd. (The)
 33,073 379,115
Raymond Ltd.
 15,064 219,076
RBL Bank Ltd.(b)
 52,793 403,600
Redington India Ltd.
 151,023 266,541
Reliance Capital Ltd.
 44,480 275,254
Reliance Communications Ltd.(a)
 426,134 117,770
Reliance Infrastructure Ltd.
 59,637 384,206
Reliance Power Ltd.(a)
 291,622 157,301
Repco Home Finance Ltd.
 22,632 198,006
Sadbhav Engineering Ltd.
 54,751 279,789
Sanofi India Ltd.
 2,940 217,873
Shankara Building Products Ltd.
 5,469 143,309
Sintex Plastics Technology Ltd., Class L(a)
 269,543 202,709
Sobha Ltd.
 23,745 179,453
Solara Active Pharma Sciences Ltd.(a)
 4,036 7,704
Somany Ceramics Ltd.
 10,253 80,161
SpiceJet Ltd.(a)
 67,855 119,908
SRF Ltd.
 8,003 229,147
Sterlite Technologies Ltd.
 53,575 262,189
Strides Shasun Ltd.
 28,396 169,074
Sun Pharma Advanced Research Co. Ltd.(a)
 42,955 259,452
Sundaram Finance Ltd.
 14,044 386,882
Sundram Fasteners Ltd.
 28,305 265,779
Supreme Industries Ltd.
 20,086 387,507
Suzlon Energy Ltd.(a)
 2,011,310 260,793
Symphony Ltd.
 10,932 247,573
Syngene International Ltd.(b)
 29,424 261,462
Tata Communications Ltd.
 30,284 277,047
Tata Elxsi Ltd.
 11,363 208,308
Tata Global Beverages Ltd.
 145,444 580,203
TeamLease Service Ltd.
 3,897 157,254
Thermax Ltd.
 18,435 303,341
Thomas Cook India Ltd.
 53,262 220,009
TI Financial Holdings Ltd.
 37,591 373,974
Time Technoplast Ltd.
 56,491 125,401
Torrent Power Ltd.
 57,622 223,973
TTK Prestige Ltd.
 2,240 196,516
Tube Investments of India Ltd.
 36,903 118,640
TV18 Broadcast Ltd.(a)
 275,394 228,330
Union Bank of India(a)
 105,452 141,733
VA Tech Wabag Ltd.
 22,442 148,305
Varun Beverages Ltd.
 20,363 230,312
V-Guard Industries Ltd.
 49,432 161,739
V-Mart Retail Ltd.
 4,271 152,078
Voltas Ltd.
 50,236 401,955
VRL Logistics Ltd.(a)
 24,571 135,194
WABCO India Ltd.
 3,107 343,541
Welspun India Ltd.
 126,932 117,936
Whirlpool of India Ltd.
 16,135 368,464
Wockhardt Ltd.(a)
 19,307 195,552
    50,744,500
 Security Shares Value
Indonesia — 2.6%
Ace Hardware Indonesia Tbk PT
  3,561,300 $     320,376
Alam Sutera Realty Tbk PT
  5,677,900      144,655
Aneka Tambang Persero Tbk PT
  3,698,400      230,235
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT
  1,022,600      150,869
Bukit Asam Tbk PT
  1,590,400      434,942
Bumi Resources Tbk PT(a)
 23,914,400      454,365
Ciputra Development Tbk PT
  5,445,263      395,805
Delta Dunia Makmur Tbk PT(a)
  2,080,400      131,008
Global Mediacom Tbk PT
 4,862,200 181,961
Hanson International Tbk PT(a)
 33,374,000 333,860
Harum Energy Tbk PT(a)
 387,500 90,077
Indika Energy Tbk PT
 770,200 207,308
Indo Tambangraya Megah Tbk PT
 150,100 278,973
Indofarma Persero Tbk PT(a)
 152,100 41,706
Inti Agri Resources Tbk PT(a)
 13,302,600 229,768
Japfa Comfeed Indonesia Tbk PT
 2,101,500 235,180
Kawasan Industri Jababeka Tbk PT
 8,943,198 140,311
Krakatau Steel Persero Tbk PT(a)
 1,824,800 56,734
Kresna Graha Investama Tbk PT(a)
 6,039,900 321,664
Link Net Tbk PT
 491,000 164,315
Lippo Karawaci Tbk PT
 7,362,800 200,298
Medco Energi Internasional Tbk PT(a)
 3,539,966 285,337
Media Nusantara Citra Tbk PT
 3,394,800 293,182
Mitra Adiperkasa Tbk PT
 384,200 232,953
Panin Financial Tbk PT(a)
 7,952,600 127,058
Pelat Timah Nusantara Tbk PT(a)
 247,400 85,464
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT
 1,413,300 116,970
PP Persero Tbk PT
 1,322,925 245,638
PP Properti Tbk PT
 18,510,869 226,473
Ramayana Lestari Sentosa Tbk PT
 1,805,000 177,317
Sawit Sumbermas Sarana Tbk PT
 1,626,700 139,900
Siloam International Hospitals Tbk PT(a)
 328,625 164,963
Sitara Propertindo Tbk PT(a)
 4,902,600 312,256
Sri Rejeki Isman Tbk PT
 4,140,400 102,504
Sugih Energy Tbk PT(a)
 5,450,300 19,612
Summarecon Agung Tbk PT
 4,294,100 304,404
Timah Tbk PT
 1,656,796 112,083
Totalindo Eka Persada Tbk PT(a)
 40,200 11,052
Trada Alam Minera Tbk PT(a)
 11,765,700 311,607
Tunas Baru Lampung Tbk PT
 1,374,200 111,756
Visi Media Asia Tbk PT(a)
 4,073,500 70,359
Waskita Beton Precast Tbk PT
 8,272,900 239,346
Wijaya Karya Persero Tbk PT
 1,422,348 170,948
    8,605,592
Malaysia — 3.1%
AEON Credit Service M Bhd
 53,000 197,085
AirAsia X Bhd(a)(c)
 1,083,400 97,996
Berjaya Sports Toto Bhd
 263,800 164,378
Bermaz Auto Bhd
 527,600 291,638
Bumi Armada Bhd(a)(c)
 1,426,400 275,962
Bursa Malaysia Bhd
 286,350 543,921
Cahya Mata Sarawak Bhd(c)
 310,900 181,228
Carlsberg Brewery Malaysia Bhd
 79,700 397,699
DRB-Hicom Bhd(c)
 309,700 136,175
Eastern & Oriental Bhd
 538,681 197,607
Eco World Development Group Bhd(a)
 524,300 179,158
Globetronics Technology BHD
 288,483 173,960
Hengyuan Refining Co. Bhd
 46,300 76,081
 
 
95
  

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Malaysia (continued)
IGB REIT(c)
  1,158,800 $     494,965
Inari Amertron Bhd
  1,109,450      638,352
Kossan Rubber Industries(c)
    149,300      286,971
KPJ Healthcare Bhd
  1,611,600      400,875
Lafarge Malaysia Bhd(a)
    128,000       96,482
Magnum Bhd
    368,900      202,988
Mah Sing Group Bhd
    506,257      139,920
Malaysia Building Society Bhd
    661,000      194,314
Malaysian Pacific Industries Bhd
 100 251
Malaysian Resources Corp. Bhd(c)
 1,081,700 160,352
OSK Holdings Bhd
 1,036,480 239,588
Padini Holdings Bhd(c)
 189,300 273,011
Pos Malaysia Bhd(c)
 168,200 150,873
QL Resources Bhd(c)
 394,730 524,654
Sapura Energy Bhd
 1,740,700 240,549
Scientex BHD
 173,400 307,589
Serba Dinamik Holdings Bhd(c)
 368,000 305,126
SKP Resources Bhd
 542,900 204,611
Sunway Bhd(c)
 908,835 333,392
Sunway Construction Group Bhd(c)
 392,420 171,560
Sunway REIT(c)
 917,000 393,987
Supermax Corp. Bhd
 259,400 200,090
TIME dotCom Bhd
 213,900 403,078
Unisem M Bhd
 302,700 181,772
Velesto Energy Bhd(a)
 1,779,700 120,733
VS Industry Bhd
 589,625 271,109
WCT Holdings Bhd(a)
 15 3
Yinson Holdings BHD(c)
 325,100 356,956
    10,207,039
Mexico — 2.6%
Axtel SAB de CV, CPO(a)(c)
 25,026 5,165
Banco del Bajio SA(b)
 360,100 680,167
Bolsa Mexicana de Valores SAB de CV
 193,400 314,177
Concentradora Fibra Danhos SA de CV
 169,900 258,512
Concentradora Fibra Hotelera Mexicana SA de CV(b)
 347,500 197,431
Consorcio ARA SAB de CV
 461,700 148,575
Controladora Vuela Cia. de Aviacion SAB de CV, Class A(a)(c)
 284,000 146,169
Corp Inmobiliaria Vesta SAB de CV
 259,500 325,082
Credito Real SAB de CV SOFOM ER
 110,800 134,705
Genomma Lab Internacional SAB de CV, Class B(a)(c)
 331,000 279,522
Gentera SAB de CV
 532,700 401,141
Grupo Aeromexico SAB de CV(a)
 134,600 163,774
Grupo Aeroportuario del Centro Norte SAB de CV
 150,900 719,196
Grupo Cementos de Chihuahua SAB de CV
 82,200 431,365
Grupo Comercial Chedraui SA de CV
 158,000 311,225
Grupo Financiero Interacciones SA de CV, Series O
 40,000 179,908
Grupo Herdez SAB de CV(c)
 107,400 211,608
Hoteles City Express SAB de CV(a)
 244,600 296,883
Industrias Bachoco SAB de CV, Series B
 87,500 398,316
Industrias CH SAB de CV, Series B(a)
 67,600 293,168
La Comer SAB de CV(a)(c)
 235,300 228,805
Macquarie Mexico Real Estate Management SA de CV
 333,100 341,382
Minera Frisco SAB de CV, Series A1(a)(c)
 4,577 1,718
PLA Administradora Industrial S. de RL de CV
 364,700 517,735
Prologis Property Mexico SA de CV
 170,000 295,872
Qualitas Controladora SAB de CV
 107,100 273,203
Regional SAB de CV
 98,000 544,200
Telesites SAB de CV(a)(c)
 614,600 433,024
TV Azteca SAB de CV, CPO(c)
 515,100 67,694
 Security Shares Value
Mexico (continued)
Unifin Financiera SAB de CV SOFOM ENR
     75,900 $     214,816
Urbi Desarrollos Urbanos SAB de CV(a)
          1          —
    8,814,538
Pakistan — 0.8%
Bank Alfalah Ltd.
    242,000      110,359
DG Khan Cement Co. Ltd.
    101,373      110,911
Engro Corp. Ltd./Pakistan
    111,500      297,037
Engro Fertilizers Ltd.
    221,500      142,441
Fauji Cement Co. Ltd.
 260,500 56,592
Fauji Fertilizer Co. Ltd.
 209,500 178,189
Honda Atlas Cars Pakistan Ltd.
 16,350 56,583
Hub Power Co. Ltd. (The)
 265,400 226,882
Indus Motor Co. Ltd.
 6,340 86,632
International Steels Ltd.
 66,500 64,196
Kot Addu Power Co. Ltd.
 161,000 81,513
Maple Leaf Cement Factory Ltd.
 91,037 50,731
Millat Tractors Ltd.
 19,170 203,718
National Bank of Pakistan
 156,500 67,076
Nishat Mills Ltd.
 57,564 72,169
Packages Ltd.
 16,500 71,463
Pakistan Oilfields Ltd.
 41,900 246,039
Pakistan State Oil Co. Ltd.
 75,298 208,204
Searle Co. Ltd. (The)
 37,750 106,086
SUI Northern Gas Pipeline
 97,200 81,655
Thal Ltd.
 18,000 76,919
    2,595,395
Philippines — 0.9%
Bloomberry Resorts Corp.
 1,701,100 349,704
Cebu Air Inc.
 97,610 161,644
Cosco Capital Inc.
 2,176,400 254,363
D&L Industries Inc.
 1,693,400 355,857
DoubleDragon Properties Corp.(a)
 280,910 156,134
Filinvest Land Inc.
 6,747,000 206,768
First Gen Corp.
 560,700 159,878
First Philippine Holdings Corp.
 226,550 280,517
Manila Water Co. Inc.
 750,500 404,996
Megawide Construction Corp.
 419,800 177,396
Melco Resorts And Entertainment (Philippines) Corp.(a)
 834,700 90,722
Petron Corp.
 1,040,800 175,331
Premium Leisure Corp.
 4,399,000 84,571
Vista Land & Lifescapes Inc.
 2,142,100 283,382
    3,141,263
Poland — 1.0%
Asseco Poland SA
 33,939 421,056
Boryszew SA(a)
 50,239 111,348
Budimex SA
 4,934 208,042
Ciech SA(a)
 12,557 210,089
Enea SA
 125,372 347,677
Energa SA
 93,352 237,938
Eurocash SA
 40,102 256,995
Famur SA(a)
 150,628 249,164
KRUK SA
 8,461 531,936
Netia SA
 27,690 35,026
PKP Cargo SA(a)
 13,337 158,613
Tauron Polska Energia SA(a)
 692,133 419,049
Warsaw Stock Exchange
 15,900 156,002
    3,342,935
Qatar — 0.7%
Gulf International Services QSC(a)
 16,484 76,181
 
 
  
96

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Qatar (continued)
Gulf Warehousing Co.
     14,065 $     163,466
Medicare Group
      5,833       90,565
Qatar First Bank(a)
    119,537      177,055
Qatar Gas Transport Co. Ltd.
    126,638      509,672
Qatar National Cement Co. QSC
     13,022      199,582
Qatar Navigation QSC
     20,332      350,696
United Development Co. QSC
     80,028      317,702
Vodafone Qatar QSC(a)
    160,612     360,580
    2,245,499
Russia — 0.9%
Aeroflot PJSC
 255,256 576,632
Credit Bank of Moscow PJSC(a)
 3,924,634 304,891
Detsky Mir PJSC(b)
 125,200 190,831
LSR Group PJSC, GDR, NVS(e)
 114,706 317,736
M.Video PJSC(a)
 30,120 197,071
Mechel PJSC, ADR, NVS(a)
 54,527 188,663
Raspadskaya OAO(a)
 92,620 144,887
Ros Agro PLC, GDR(e)
 16,930 194,215
Safmar Financial Investment
 16,320 194,549
Sistema PJSFC, GDR(e)
 14,455 48,829
Sistema PJSFC, GDR(e)
 65,168 220,138
TMK PJSC, GDR, NVS(e)
 39,597 213,824
Unipro PJSC
 6,412,070 292,582
    3,084,848
South Africa — 5.2%
Adcock Ingram Holdings Ltd.
 31,968 165,052
Advtech Ltd.
 190,329 237,442
AECI Ltd.
 52,588 448,399
African Rainbow Minerals Ltd.
 51,090 443,170
Alexander Forbes Group Holdings Ltd.
 315,729 157,054
Arrowhead Properties Ltd., Class A
 465,820 249,369
Ascendis Health Ltd.
 98,742 76,717
Astral Foods Ltd.
 17,373 370,670
Attacq Ltd.(a)
 249,963 362,165
AVI Ltd.
 146,886 1,186,454
Barloworld Ltd.
 102,030 1,071,456
Blue Label Telecoms Ltd.
 180,416 168,094
Brait SE(a)
 157,561 454,209
Cashbuild Ltd.
 8,200 252,507
City Lodge Hotels Ltd.
 19,648 242,121
Curro Holdings Ltd.(a)(c)
 94,882 226,773
DataTec Ltd.
 87,960 151,404
Delta Property Fund Ltd.
 328,658 163,486
Dis-Chem Pharmacies Ltd.(b)
 161,557 366,102
Emira Property Fund Ltd.
 229,143 278,626
EOH Holdings Ltd.
 58,517 155,198
Equites Property Fund Ltd.
 166,428 256,377
Famous Brands Ltd.(a)
 35,885 311,957
Grindrod Ltd.(a)
 194,651 209,021
Harmony Gold Mining Co. Ltd.
 186,642 311,684
Hosken Consolidated Investments Ltd.
 23,047 258,257
Hudaco Industries Ltd.
 14,028 175,159
Impala Platinum Holdings Ltd.(a)
 330,283 528,349
Invicta Holdings Ltd.
 27,043 93,524
JSE Ltd.
 36,721 526,272
KAP Industrial Holdings Ltd.
 842,516 548,816
Massmart Holdings Ltd.
 49,000 456,572
Metair Investments Ltd.
 89,178 140,896
Mpact Ltd.
 82,650 162,755
 Security Shares Value
South Africa (continued)
Murray & Roberts Holdings Ltd.
    175,058 $     251,287
Nampak Ltd.(a)
    297,016      356,701
Northam Platinum Ltd.(a)
    159,020      439,832
Oceana Group Ltd.
     20,752      137,637
Omnia Holdings Ltd.
     28,530      304,110
PPC Ltd.(a)
    691,758      442,965
Raubex Group Ltd.
     79,626      142,025
Reunert Ltd.
     83,403      524,850
SA Corporate Real Estate Ltd.
 878,184 321,042
Sibanye Gold Ltd.(a)
 869,294 541,550
Stadio Holdings Ltd.(a)(c)
 97,284 30,649
Sun International Ltd./South Africa(a)(c)
 46,416 249,213
Super Group Ltd./South Africa(a)
 155,564 447,346
Tongaat Hulett Ltd.
 45,563 291,402
Trencor Ltd.
 79,576 236,937
Tsogo Sun Holdings Ltd.
 230,731 419,014
Vukile Property Fund Ltd.
 268,219 463,162
Wilson Bayly Holmes-Ovcon Ltd.
 20,895 255,722
Zeder Investments Ltd.
 454,751 215,796
    17,277,347
South Korea — 19.3%
Advanced Process Systems Corp.(a)
 12,108 257,784
Ahnlab Inc.(c)
 2,601 142,844
AK Holdings Inc.
 3,035 226,650
Amicogen Inc.(a)
 7,303 182,245
Ananti Inc.(a)
 14,880 149,083
Anterogen Co. Ltd., NVS
 1,889 253,397
Aprogen pharmaceuticals Inc.(a)(c)
 60,010 219,342
APS Holdings Corp.(a)
 1 6
Asiana Airlines Inc.(a)
 52,501 241,331
ATGen Co. Ltd.(a)
 9,918 163,774
BGF Co. Ltd.
 16,886 177,797
BH Co. Ltd.(a)
 10,885 279,206
Binex Co. Ltd.(a)
 15,540 186,690
Binggrae Co. Ltd.
 5,648 320,138
Bukwang Pharmaceutical Co. Ltd.
 14,288 383,726
Cafe24 Corp.(a)
 2,850 455,810
Caregen Co. Ltd.
 2,337 187,099
Chabiotech Co. Ltd.(a)
 1 18
Chong Kun Dang Pharmaceutical Corp.
 3,337 325,048
CJ CGV Co. Ltd.
 6,252 382,793
CJ Freshway Corp.
 3,891 124,893
CJ O Shopping Co. Ltd.
 1,602 330,967
CMG Pharmaceutical Co. Ltd.(a)(c)
 42,639 203,712
Com2uSCorp.
 4,302 764,259
Cosmax Inc.
 3,342 527,056
CrystalGenomics Inc.(a)(c)
 9,799 214,079
Dae Hwa Pharmaceutical Co. Ltd.
 6,491 147,530
Daeduck GDS Co. Ltd.
 8,812 123,030
Daesang Corp.
 12,587 296,007
Daewoong Co. Ltd.
 11,979 225,033
Daewoong Pharmaceutical Co. Ltd.
 2,294 444,776
Daishin Securities Co. Ltd.
 23,656 298,457
Daou Technology Inc.
 12,713 306,046
DB HiTek Co. Ltd.
 16,681 263,071
Dentium Co. Ltd.
 3,052 248,305
DIO Corp.(a)
 5,016 176,127
Dong-A Socio Holdings Co. Ltd.
 2,264 236,282
Dong-A ST Co. Ltd.
 2,941 264,648
Dongjin Semichem Co. Ltd.
 14,630 215,117
 
 
97
  

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Korea (continued)
DongKook Pharmaceutical Co. Ltd.
      4,463 $     263,321
Dongkuk Steel Mill Co. Ltd.
     33,325      312,243
Dongwon F&B Co. Ltd.
        728      155,670
Dongwon Industries Co. Ltd.
        753      233,315
Doosan Infracore Co. Ltd.(a)(c)
     60,134      580,169
DoubleUGames Co. Ltd.
      4,375      226,066
Douzone Bizon Co. Ltd.
      9,487      385,482
Duk San Neolux Co. Ltd.(a)(c)
      5,126       76,798
Easy Bio Inc.
 24,719 213,492
Ecopro Co. Ltd.(a)
 8,127 283,855
Enzychem Lifesciences Corp., NVS
 3,303 252,179
Eo Technics Co Ltd.
 4,029 282,566
Esmo Corp., NVS
 20,953 196,322
Eugene Corp.
 21,478 205,226
F&F Co. Ltd.
 3,237 191,887
Fila Korea Ltd.
 23,430 633,596
Foosung Co. Ltd.(a)
 23,850 205,544
Gamevil Inc.(a)
 2,441 142,889
GemVax & Kael Co. Ltd.(a)
 14,439 189,537
Genexine Co. Ltd.(a)
 6,292 665,419
Grand Korea Leisure Co. Ltd.
 15,274 388,244
Green Cross Cell Corp.
 4,332 205,358
Green Cross Corp./South Korea
 2,846 580,843
Green Cross Holdings Corp.
 14,663 516,221
GS Home Shopping Inc.
 1,782 279,711
G-treeBNT Co. Ltd.(a)
 9,796 375,319
Halla Holdings Corp.
 5,094 211,945
Hana Tour Service Inc.(c)
 5,125 489,703
Hanall Biopharma Co. Ltd.(a)
 13,796 410,828
Handsome Co. Ltd.
 7,069 257,394
Hanil Cement Co. Ltd.
 1,370 216,694
Hanjin Heavy Industries & Construction Co. Ltd.(a)(c)
 37,093 113,727
Hanjin Kal Corp.
 22,226 478,355
Hanjin Transportation Co. Ltd.
 5,945 135,120
Hankook Tire Worldwide Co. Ltd.(c)
 15,564 259,171
Hansae Co. Ltd.
 8,286 118,377
Hansol Chemical Co. Ltd.
 4,192 299,442
Hansol Technics Co. Ltd.(a)
 20,556 209,765
Hanwha Aerospace Co. Ltd.(a)
 17,434 536,145
Hanwha General Insurance Co. Ltd.
 30,374 200,061
Hanwha Investment & Securities Co. Ltd.(a)
 67,926 187,467
Hite Jinro Co. Ltd.
 13,741 256,859
Homecast Co. Ltd.(a)
 13,092 101,292
HS Industries Co. Ltd.
 24,150 208,354
Huchems Fine Chemical Corp.
 10,869 305,012
Hugel Inc.(a)
 1,040 465,513
Huons Co. Ltd.
 2,765 248,041
Huons Global Co. Ltd.(c)
 3,050 179,387
Hyundai Construction Equipment Co. Ltd.(a)
 2,682 415,505
Hyundai Electric & Energy System Co. Ltd.(a)
 2,783 237,005
Hyundai Elevator Co. Ltd.(c)
 6,470 801,285
Hyundai Greenfood Co. Ltd.
 26,363 365,626
Hyundai Home Shopping Network Corp.
 3,577 353,403
Hyundai Livart Furniture Co. Ltd.
 6,448 135,785
Hyundai Merchant Marine Co. Ltd.(a)(c)
 113,868 624,296
Hyundai Mipo Dockyard Co. Ltd.(a)
 5,350 465,045
Hyundai Rotem Co. Ltd.(a)
 13,431 481,570
Hyundai Wia Corp.
 8,062 377,690
Iljin Materials Co. Ltd.(c)
 10,486 337,066
Ilyang Pharmaceutical Co. Ltd.(a)
 9,112 343,195
 Security Shares Value
South Korea (continued)
InBody Co. Ltd.
      5,757 $     176,777
Innocean Worldwide Inc.
      4,758      289,995
Innox Advanced Materials Co. Ltd.(a)
      2,772      190,037
Inscobee Inc.(a)
     37,319      353,127
Interflex Co. Ltd.(a)(c)
      4,759       87,414
iNtRON Biotechnology Inc.(a)
      6,773      261,382
IS Dongseo Co. Ltd.
     10,017      273,668
It's Hanbul Co. Ltd.
      3,997      198,747
Jayjun Cosmetic Co. Ltd.(a)(c)
 8,423 195,348
JB Financial Group Co. Ltd.
 52,129 293,058
Jeil Holdings Co. Ltd.
 20,769 289,007
Jeil Pharmaceutical Co. Ltd.
 3,003 112,827
Jeju Air Co. Ltd.
 4,230 200,130
Jenax Inc.(a)
 7,450 95,721
Jin Air Co. Ltd.
 6,236 174,709
Jusung Engineering Co. Ltd.
 21,451 199,993
JW Holdings Corp.
 15,364 120,010
JW Pharmaceutical Corp.
 7,080 266,005
JYP Entertainment Corp.(a)
 13,532 311,326
Kakao M Corp.
 3,571 274,960
KC Co. Ltd.
 4,691 96,174
KEPCO Engineering & Construction Co. Inc.
 5,920 171,347
Kginicis Co. Ltd.
 9,666 193,688
KIWOOM Securities Co. Ltd.(c)
 5,529 643,712
Koh Young Technology Inc.
 5,601 493,098
Kolmar BNH Co. Ltd.
 5,464 138,634
Kolon Corp.(c)
 3,825 166,775
Kolon Industries Inc.
 7,564 464,527
Kolon Life Science Inc.(a)
 3,561 229,593
Komipharm International Co. Ltd.(a)
 18,849 514,087
Korea Kolmar Co. Ltd.
 6,275 448,817
Korea Kolmar Holdings Co. Ltd.(c)
 4,532 209,793
Korea Line Corp.(a)
 5,836 136,432
Korea Petrochemical Ind. Co Ltd.
 1,413 330,982
Korea REIT Co. Ltd.
 101,547 275,075
Korean Reinsurance Co.
 42,791 504,147
KT Skylife Co. Ltd.
 23,010 274,297
Kumho Tire Co. Inc.(a)(c)
 45,331 256,103
Kyung Dong Navien Co. Ltd.
 2,806 136,142
L&F Co. Ltd.
 5,733 259,805
LEENO Industrial Inc.(c)
 5,869 340,287
LegoChem Biosciences Inc., NVS
 4,364 189,466
LF Corp.
 10,557 282,545
LG Hausys Ltd.
 4,603 304,461
LG International Corp.
 18,698 457,064
LIG Nex1 Co. Ltd.
 5,448 257,756
Lock&Lock Co. Ltd.
 10,497 231,763
Lotte Chilsung Beverage Co. Ltd.
 191 280,489
LOTTE Fine Chemical Co. Ltd.
 8,135 517,706
Lotte Food Co. Ltd.
 331 216,787
LOTTE Himart Co. Ltd.
 4,040 294,956
LS Corp.
 7,994 634,062
LS Industrial Systems Co. Ltd.
 7,092 507,911
Lutronic Corp.
 10,402 155,362
Maeil Dairies Co. Ltd.
 2,078 168,291
Mando Corp.
 15,228 543,176
Medipost Co. Ltd.(a)
 3,660 348,361
MeereCo. Inc.
 1,559 199,295
Meritz Financial Group Inc.
 23,040 304,578
Meritz Fire & Marine Insurance Co. Ltd.
 25,733 489,379
 
 
  
98

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
South Korea (continued)
Meritz Securities Co. Ltd.
    162,682 $     616,500
Mezzion Pharma Co. Ltd., NVS
      3,679      189,078
Mirae Asset Life Insurance Co. Ltd.
     40,178      218,045
Modetour Network Inc.
      7,243      226,102
Muhak Co. Ltd.
     16,508      253,451
Namhae Chemical Corp.
     11,252      195,197
Nanomedics Co. Ltd., NVS
      9,234      145,198
Naturalendo Tech Co. Ltd.(a)
      7,630      110,775
Naturecell Co. Ltd.(a)
 18,524 506,942
Nexen Tire Corp.
 23,718 247,532
NHN Entertainment Corp.(a)
 5,553 341,541
NICE Holdings Co. Ltd.
 9,827 180,048
NICE Information Service Co. Ltd.
 18,689 211,518
NongShim Co. Ltd.
 1,358 410,694
NUTRIBIOTECH Co. Ltd.(a)
 4,961 109,534
Orion Holdings Corp.(c)
 10,348 229,913
Oscotec Inc., NVS
 11,223 298,808
Osstem Implant Co. Ltd.(a)
 4,993 232,987
Paradise Co. Ltd.(c)
 21,337 384,005
Partron Co. Ltd.(c)
 18,208 129,387
Peptron Inc.(a)(c)
 2,908 156,737
Pharmicell Co. Ltd.(a)
 25,040 456,455
Poongsan Corp.
 10,802 360,250
POSCO Chemtech Co. Ltd.
 9,533 395,311
Posco ICT Co. Ltd.
 39,226 256,546
PSK Inc.
 7,682 212,369
S&T Motiv Co. Ltd.
 6,194 177,842
Sam Chun Dang Pharm Co. Ltd.
 6,415 267,800
Samjin Pharmaceutical Co. Ltd.
 5,500 244,144
Samwha Capacitor Co. Ltd.
 3,732 246,850
Samyang Corp.(c)
 2,602 206,383
Samyang Foods Co. Ltd.
 1,560 146,166
Samyang Holdings Corp.
 1,908 202,668
Sangsangin Co. Ltd.(a)
 14,838 302,142
Seah Besteel Corp.
 10,260 222,723
SeAH Steel Corp.
 2,016 168,132
Seegene Inc.(a)
 7,800 228,656
Seoul Semiconductor Co. Ltd.
 18,983 360,130
SFA Engineering Corp.
 9,854 332,748
Shinsegae International Inc.
 1,189 187,513
Silicon Works Co. Ltd.
 4,995 180,255
SK Chemicals Co. Ltd.(a)
 3,973 327,659
SK Discovery Co. Ltd.
 5,543 202,858
SK Gas Ltd.
 2,053 190,454
SK Materials Co. Ltd.
 2,581 399,619
SK Networks Co. Ltd.
 81,483 375,308
SK Securities Co. Ltd.(a)
 197,800 212,856
SKC Co. Ltd.
 10,650 381,857
SKCKOLONPI Inc.
 7,353 302,865
SM Entertainment Co. Ltd.(a)
 8,872 341,975
Songwon Industrial Co. Ltd.
 7,156 179,572
Soulbrain Co. Ltd.(c)
 4,306 279,623
SPC Samlip Co. Ltd.
 1,078 110,505
Ssangyong Cement Industrial Co. Ltd.
 11,870 371,643
Sungwoo Hitech Co. Ltd.
 25,203 118,773
Taekwang Industrial Co. Ltd.
 222 255,785
Taewoong Co. Ltd.(a)
 5,056 87,241
Taeyoung Engineering & Construction Co. Ltd.
 16,358 260,253
Taihan Fiberoptics Co. Ltd.(a)
 25,861 170,575
Telcon RF Pharmaceutical Inc.(a)
 28,832 316,953
 Security Shares Value
South Korea (continued)
TES Co. Ltd./Korea
      8,261 $     231,058
Theragen Etex Co. Ltd., NVS
     13,296      187,485
Tokai Carbon Korea Co. Ltd.
      2,313      148,056
Tongyang Inc.
     98,720      196,900
Tongyang Life Insurance Co. Ltd.
     25,504      168,457
Toptec Co. Ltd.(a)
      9,979      249,487
Vieworks Co. Ltd.(c)
      3,782      111,395
Webzen Inc.(a)
      7,487      191,351
WeMade Entertainment Co. Ltd.
 4,310 213,911
WONIK IPS Co. Ltd.
 12,973 410,389
Young Poong Corp.
 293 219,081
Youngone Corp.
 12,017 355,064
Yuanta Securities Korea Co. Ltd.(a)
 57,786 233,192
Yungjin Pharmaceutical Co. Ltd.(a)
 41,777 317,411
Yuyang DNU Co. Ltd.(a)
 21,926 190,590
    64,702,011
Taiwan — 19.2%
AcBel Polytech Inc.
 513,000 333,878
Accton Technology Corp.
 209,000 601,996
A-DATA Technology Co. Ltd.
 92,000 207,573
Advanced Ceramic X Corp.
 18,000 161,307
Advanced Wireless Semiconductor Co.
 69,000 151,995
AmTRAN Technology Co. Ltd.
 388,312 166,541
Ardentec Corp.
 191,000 220,888
Asia Optical Co. Inc.
 104,000 328,715
Asia Pacific Telecom Co. Ltd.(a)
 1,095,000 293,837
Asia Polymer Corp.
 760,869 462,187
Asia Vital Components Co. Ltd.
 179,000 172,360
ASMedia Technology Inc.
 16,000 200,257
ASPEED Technology Inc.
 10,000 300,719
BES Engineering Corp.
 789,000 212,514
Bizlink Holding Inc.
 46,770 329,372
Capital Securities Corp.
 678,000 256,840
Career Technology MFG. Co. Ltd.
 167,000 370,102
Casetek Holdings Ltd.
 74,816 187,780
Cathay Real Estate Development Co. Ltd.
 302,300 180,604
Center Laboratories Inc.(a)
 100,000 229,962
Charoen Pokphand Enterprise
 75,000 146,438
Cheng Loong Corp.
 373,000 222,220
Cheng Uei Precision Industry Co. Ltd.
 195,000 230,721
Chilisin Electronics Corp.
 82,000 437,895
China Bills Finance Corp.
 337,000 158,594
China General Plastics Corp.
 147,000 146,453
China Man-Made Fiber Corp.(a)
 590,700 205,039
China Motor Corp.
 206,000 200,077
China Petrochemical Development Corp.(a)
 1,082,000 498,360
China Steel Chemical Corp.
 77,000 399,630
China Synthetic Rubber Corp.
 232,233 373,213
Chin-Poon Industrial Co. Ltd.
 169,000 223,931
Chipbond Technology Corp.
 279,000 586,653
Chlitina Holding Ltd.
 20,000 181,900
Chong Hong Construction Co. Ltd.
 81,424 254,369
Chroma ATE Inc.
 168,000 838,276
Chung Hung Steel Corp.(a)
 514,000 196,429
Chunghwa Precision Test Tech Co. Ltd.
 8,000 215,477
Cleanaway Co. Ltd.
 40,000 256,996
Clevo Co.
 259,000 280,512
CMC Magnetics Corp.(a)
 766,000 255,661
Compeq Manufacturing Co. Ltd.
 439,000 492,312
Concraft Holding Co. Ltd.
 15,528 153,406
 
 
99
  

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Taiwan (continued)
Coretronic Corp.
    185,400 $     256,181
CSBC Corp. Taiwan(a)
    198,420      120,529
CTCI Corp.
    301,000      493,772
Cub Elecparts Inc.
     22,600      269,286
Darwin Precisions Corp.
    172,000      152,129
E Ink Holdings Inc.
    387,000      442,393
Egis Technology Inc.(a)
     27,000      143,734
Elan Microelectronics Corp.
    219,000      354,505
Elite Advanced Laser Corp.
 57,840 205,596
Elite Material Co. Ltd.
 120,000 321,212
Elite Semiconductor Memory Technology Inc.
 138,000 192,527
eMemory Technology Inc.
 34,000 411,929
Ennoconn Corp.
 23,000 374,230
Epistar Corp.(a)
 442,000 598,942
Eternal Materials Co. Ltd.
 555,532 545,121
Everlight Electronics Co. Ltd.
 208,000 280,467
Far Eastern Department Stores Ltd.
 500,000 330,424
Far Eastern International Bank
 995,360 333,874
Faraday Technology Corp.
 106,000 224,301
Farglory Land Development Co. Ltd.
 150,000 167,966
Feng Hsin Steel Co. Ltd.
 258,000 506,330
Firich Enterprises Co. Ltd.
 134,267 228,099
FLEXium Interconnect Inc.
 137,418 398,107
Foxsemicon Integrated Technology Inc.
 26,000 183,102
Genius Electronic Optical Co. Ltd.(a)
 30,000 448,576
Getac Technology Corp.
 206,000 297,709
Gigabyte Technology Co. Ltd.
 229,000 604,573
Ginko International Co. Ltd.
 22,000 197,520
Gintech Energy Corp.(a)
 258,647 130,785
Global Unichip Corp.
 40,000 340,437
Gloria Material Technology Corp.
 330,850 211,464
Goldsun Building Materials Co. Ltd.(a)
 623,000 197,745
Gourmet Master Co. Ltd.
 36,070 374,406
Grand Pacific Petrochemical
 350,000 374,981
Grape King Bio Ltd.
 54,000 416,334
Great Wall Enterprise Co. Ltd.
 245,128 317,031
Greatek Electronics Inc.
 184,000 333,468
HannStar Display Corp.
 1,163,320 362,257
Ho Tung Chemical Corp.(a)
 639,342 186,288
Holtek Semiconductor Inc.
 86,000 212,406
Holy Stone Enterprise Co. Ltd.
 62,050 432,837
Hota Industrial Manufacturing Co. Ltd.
 96,192 465,525
Hu Lane Associate Inc.
 45,000 217,029
Huaku Development Co. Ltd.
 128,080 303,512
Huang Hsiang Construction Corp.
 75,000 70,090
Hung Sheng Construction Ltd.
 260,000 341,905
International Games System Co. Ltd.
 27,000 172,121
ITEQ Corp.
 103,600 221,989
Jih Sun Financial Holdings Co. Ltd.
 669,690 202,506
Kenda Rubber Industrial Co. Ltd.
 342,341 385,057
Kerry TJ Logistics Co. Ltd.
 160,000 208,534
Kindom Construction Corp.
 209,000 147,534
King Slide Works Co. Ltd.
 26,000 380,088
King Yuan Electronics Co. Ltd.
 555,000 520,518
King's Town Bank Co. Ltd.
 388,000 453,248
Kinpo Electronics
 1,093,000 362,613
Kinsus Interconnect Technology Corp.
 114,000 218,781
LandMark Optoelectronics Corp.
 32,400 324,416
LCY Chemical Corp.
 279,000 427,884
Lealea Enterprise Co. Ltd.(a)
 590 223
 Security Shares Value
Taiwan (continued)
Lien Hwa Industrial Corp.
    291,904 $     373,143
Long Chen Paper Co. Ltd.
    253,751      281,602
Lotes Co. Ltd.
     28,000      177,561
Lung Yen Life Service Corp.
     77,000      162,936
Machvision Inc.
     15,000      232,799
Makalot Industrial Co. Ltd.
     80,559      364,326
Masterlink Securities Corp.
    464,121      168,847
Mercuries & Associates Holding Ltd.
    222,330      180,319
Mercuries Life Insurance Co. Ltd.(a)
 288,000 158,123
Merida Industry Co. Ltd.
 93,000 397,310
Merry Electronics Co. Ltd.
 80,000 391,169
Microbio Co. Ltd.(a)
 347,727 236,758
Mitac Holdings Corp.
 385,379 423,175
momo.com Inc.
 20,000 151,528
Motech Industries Inc.(a)
 212,344 140,327
Nan Kang Rubber Tire Co. Ltd.
 440,000 385,495
Neo Solar Power Corp.(a)
 674,364 261,089
OBI Pharma Inc.(a)
 50,000 270,347
On-Bright Electronics Inc.
 16,000 152,729
Oriental Union Chemical Corp.
 235,000 256,087
Pan Jit International Inc.
 141,000 285,186
Pan-International Industrial Corp.
 183,722 143,181
Parade Technologies Ltd.
 32,000 532,951
PChome Online Inc.
 39,305 190,218
PharmaEngine Inc.
 55,756 248,433
PharmaEssentia Corp.(a)
 63,000 374,280
Pharmally International Holding Co. Ltd.
 17,851 229,680
Pixart Imaging Inc.
 59,635 214,962
Poya International Co. Ltd.
 23,453 248,921
President Securities Corp.(a)
 524,741 255,702
Primax Electronics Ltd.
 179,000 348,304
Prince Housing & Development Corp.
 609,917 234,102
Qisda Corp.
 810,000 573,136
Radiant Opto-Electronics Corp.
 189,000 396,148
Radium Life Tech Co. Ltd.(a)
 419,707 149,187
Ritek Corp.(a)
 928,260 477,119
Roo Hsing Co. Ltd.(a)
 439,000 221,247
Run Long Construction Co. Ltd.
 68,000 140,714
Sanyang Motor Co. Ltd.
 410,820 297,542
ScinoPharm Taiwan Ltd.
 187,708 214,262
SDI Corp.
 59,000 156,945
Senao International Co. Ltd.
 89,000 152,683
Sercomm Corp.
 127,000 293,323
Shin Zu Shing Co. Ltd.
 61,000 178,145
Shining Building Business Co. Ltd.(a)
 297,858 119,296
Shinkong Synthetic Fibers Corp.
 773,135 281,267
Sigurd Microelectronics Corp.
 206,000 257,143
Silergy Corp.
 29,000 663,985
Simplo Technology Co. Ltd.
 75,600 474,369
Sinbon Electronics Co. Ltd.
 98,000 264,286
Sino-American Silicon Products Inc.
 229,000 1,077,683
Sinyi Realty Inc.
 135,588 188,257
Sitronix Technology Corp.
 75,000 228,293
Soft-World International Corp.
 56,140 162,453
Sporton International Inc.
 34,000 171,353
St. Shine Optical Co. Ltd.
 22,000 587,420
Sunny Friend Environmental Technology Co. Ltd.
 30,000 200,257
Supreme Electronics Co. Ltd.
 161,000 178,671
TA Chen Stainless Pipe
 351,010 380,749
Taichung Commercial Bank Co. Ltd.
 1,520,014 522,542
 
 
  
100

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Taiwan (continued)
Tainan Spinning Co. Ltd.
    556,190 $     282,165
Taiwan Cogeneration Corp.
    187,000      175,382
Taiwan Fertilizer Co. Ltd.
    440,000      634,414
Taiwan Glass Industry Corp.(a)
    483,000      294,203
Taiwan Hon Chuan Enterprise Co. Ltd.
    153,004      262,484
Taiwan Paiho Ltd.
    102,050      241,147
Taiwan Secom Co. Ltd.
    151,450      457,461
Taiwan Semiconductor Co. Ltd.
     93,000      264,770
Taiwan Shin Kong Security Co. Ltd.
 319,640 409,132
Taiwan Styrene Monomer
 266,000 216,181
Taiwan TEA Corp.
 627,000 324,366
Taiwan Union Technology Corp.
 89,000 281,007
Tatung Co. Ltd.(a)
 891,000 670,596
TCI Co. Ltd.
 32,000 419,739
Test Research Inc.
 69,000 148,080
Ton Yi Industrial Corp.
 709,000 304,079
Tong Hsing Electronic Industries Ltd.
 66,000 258,832
Tong Yang Industry Co. Ltd.
 167,133 282,260
Topco Scientific Co. Ltd.
 76,000 207,239
TPK Holding Co. Ltd.(a)
 150,000 321,913
Transcend Information Inc.
 71,000 203,558
Tripod Technology Corp.
 197,000 557,569
TSRC Corp.
 278,000 292,275
TTY Biopharm Co. Ltd.
 97,450 315,493
Tung Ho Steel Enterprise Corp.
 421,000 337,935
TXC Corp.
 230,000 287,486
U-Ming Marine Transport Corp.
 206,000 236,173
Unimicron Technology Corp.
 606,000 339,796
Unitech Printed Circuit Board Corp.(a)
 246,000 195,000
United Integrated Services Co. Ltd.
 92,000 197,133
UPC Technology Corp.
 397,202 271,770
USI Corp.
 474,089 234,976
Visual Photonics Epitaxy Co. Ltd.
 88,425 318,739
Voltronic Power Technology Corp.
 25,077 397,144
Wafer Works Corp.(a)
 211,000 492,262
Wah Lee Industrial Corp.
 157,000 296,587
Walsin Lihwa Corp.
 1,195,000 999,107
Waterland Financial Holdings Co. Ltd.
 1,015,097 354,046
Win Semiconductors Corp.
 1 8
Wistron NeWeb Corp.
 152,923 365,445
Wowprime Corp.
 28,000 97,659
WT Microelectronics Co. Ltd.
 206,757 313,984
XinTec Inc.(a)
 75,000 177,478
Xxentria Technology Materials Corp.
 67,000 180,685
Yang Ming Marine Transport Corp.(a)
 476,820 151,028
Yeong Guan Energy Technology Group Co. Ltd.
 52,601 117,275
YFY Inc.(a)
 668,000 290,953
Yieh Phui Enterprise Co. Ltd.
 692,342 234,543
Yulon Finance Corp.
 46,000 188,842
Yulon Motor Co. Ltd.
 377,000 298,213
YungShin Global Holding Corp.
 206,200 279,760
Yungtay Engineering Co. Ltd.
 182,000 303,723
Zinwell Corp.
 223,000 196,120
    64,179,415
Thailand — 3.8%
Amata Corp. PCL, NVDR(c)
 312,200 224,464
Bangchak Corp. PCL, NVDR
 280,900 318,307
Bangkok Airways PCL, NVDR(c)
 569,100 268,628
Bangkok Chain Hospital PCL, NVDR
 767,800 393,621
Bangkok Land PCL, NVDR
 9,024,700 564,220
 Security Shares Value
Thailand (continued)
Beauty Community PCL, NVDR
  1,019,300 $     557,604
CH Karnchang PCL, NVDR(c)
    379,300      317,170
Chularat Hospital PCL, NVDR(c)
  3,183,200      230,854
Eastern Polymer Group PCL, NVDR(c)
    662,400      153,228
Esso Thailand PCL, NVDR
    572,100      262,891
GFPT PCL, NVDR(c)
    419,300      157,287
Group Lease PCL, NVDR
     35,800        7,106
Gunkul Engineering PCL, NVDR(c)
  1,846,583      188,179
Hana Microelectronics PCL, NVDR
 283,200 303,207
Italian-Thai Development PCL, NVDR(a)(c)
 2,065,100 228,523
Jasmine International PCL, NVDR(c)
 1,873,500 339,678
KCE Electronics PCL, NVDR
 290,000 294,623
Khon Kaen Sugar Industry PCL, NVDR(c)
 1,075,130 110,907
Kiatnakin Bank PCL, NVDR
 247,332 531,543
LPN Development PCL, NVDR(c)
 575,300 174,442
Major Cineplex Group PCL, NVDR(c)
 339,200 286,290
Muangthai Capital PCL, NVDR
 288,100 281,436
PTG Energy PCL, NVDR(c)
 398,200 235,260
Quality Houses PCL, NVDR
 3,824,767 389,770
Samart Corp. PCL, NVDR
 146,100 34,710
Siam Global House PCL, NVDR(c)
 870,428 451,676
Siamgas & Petrochemicals PCL
 484,500 150,696
Sino-Thai Engineering & Construction PCL, NVDR(a)
 385,028 272,011
Sri Trang Agro-Industry PCL, NVDR(c)
 406,980 159,026
Srisawad Corp PCL, NVDR(c)
 276,843 305,055
Supalai PCL, NVDR(a)(c)
 473,000 373,343
Super Energy Corp. PCL, NVDR(a)
 6,737,100 311,688
Taokaenoi Food & Marketing PCL, NVDR
 266,100 165,533
Thai Airways International PCL, NVDR(a)(c)
 456,200 223,893
Thai Vegetable Oil PCL, NVDR
 247,500 239,841
Thaicom PCL, NVDR(c)
 294,400 86,047
Thanachart Capital PCL, NVDR
 375,100 603,865
Tisco Financial Group PCL, NVDR
 186,040 482,692
TTW PCL, NVDR
 1,054,500 408,747
U City PCL, NVDR(a)
 85,044,600 79,754
VGI Global Media PCL, NVDR(c)
 1,362,200 330,011
Vibhavadi Medical Center PCL, NVDR
 5,237,100 422,373
WHA Corp. PCL, NVDR(c)
 4,059,200 558,315
Workpoint Entertainment PCL, NVDR(c)
 105,200 141,407
    12,619,921
Turkey — 1.1%
AG Anadolu Grubu Holding AS
 61,056 302,760
Akcansa Cimento AS
 16,559 33,575
Aygaz AS
 137,178 366,114
Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS(a)
 29,369 14,563
Cimsa Cimento Sanayi VE Ticaret AS(c)
 18,004 44,440
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D(a)
 414,958 435,311
Koza Altin Isletmeleri AS(a)
 21,413 225,482
Koza Anadolu Metal Madencilik Isletmeleri AS(a)
 92,189 171,682
Logo Yazilim Sanayi Ve Ticaret AS(a)
 19,634 207,701
Mavi Giyim Sanayi Ve Ticaret AS, Class B(b)
 15,272 163,980
Otokar Otomotiv Ve Savunma Sanayi AS(c)
 4,679 79,660
Sasa Polyester Sanayi AS(a)
 60,798 142,433
Soda Sanayii AS
 315,889 369,672
Tekfen Holding AS
 118,856 396,584
Trakya Cam Sanayii AS
 383,671 338,226
Turkiye Sinai Kalkinma Bankasi AS
 1,450,187 389,917
Vestel Elektronik Sanayi ve Ticaret AS(a)(c)
 41,661 81,349
 
 
101
  

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Turkey (continued)
Zorlu Enerji Elektrik Uretim AS(a)
    103,085 $      33,624
    3,797,073
United Arab Emirates — 0.5%
Agthia Group PJSC
     87,504      114,348
Air Arabia PJSC
    945,877      298,713
Al Waha Capital PJSC
    475,013      230,190
Amanat Holdings PJSC
    526,001      196,186
Amlak Finance PJSC(a)
    308,665       66,890
Arabtec Holding PJSC
 310,671 164,929
Dana Gas PJSC
 375,281 110,342
Deyaar Development PJSC(a)
 1,731,305 223,887
Drake & Scull International PJSC(a)
 228,391 72,127
DXB Entertainments PJSC(a)
 1,979,004 225,747
Eshraq Properties Co. PJSC(a)
 563,157 111,922
    1,815,281
Total Common Stocks — 98.5%

(Cost: $309,966,250)
 330,069,815
Preferred Stocks
Brazil — 1.1%
Alpargatas SA, Preference Shares, NVS
 78,000 276,054
Banco ABC Brasil SA, Preference Shares, NVS
 33,923 149,390
Banco do Estado do Rio Grande do Sul SA, Class B, Preference Shares, NVS
 83,300 367,061
Bradespar SA, Preference Shares, NVS
 104,300 872,423
Cia. de Gas de Sao Paulo - COMGAS, Preference Shares, NVS
 10,500 161,643
Cia. de Saneamento do Parana, Preference Shares, NVS
 53,400 127,619
Cia. Energetica de Sao Paulo, Class B, Preference Shares, NVS
 81,700 362,643
Cia. Paranaense de Energia, Preference Shares, NVS
 45,100 284,596
Gol Linhas Aereas Inteligentes SA, Preference Shares, NVS
 51,000 184,742
Marcopolo SA, Preference Shares, NVS
 211,500 202,751
Metalurgica Gerdau SA, Preference Shares, NVS
 286,200 523,361
Randon SA Implemetos e Participacoes, Preference Shares, NVS
 77,825 144,405
    3,656,688
Colombia — 0.0%
Avianca Holdings SA, Preference Shares, NVS
 147,154 141,905
Total Preferred Stocks — 1.1%

(Cost: $3,427,319)
 3,798,593
 Security Shares Value
Rights
South Africa — 0.0%
Sun International Ltd. (Expires 06/01/18)(a)(c)
     11,761 $       9,453
South Korea — 0.0%
CrystalGenomics Inc., NVS (Expires 06/26/18)(a)(c)
        917        2,808
Sungwoo Hitech Co. Ltd., NVS (Expires 06/19/18)(a)
     10,206       5,690
    8,498
Total Rights — 0.0%

(Cost: $0)
 17,951
Warrants
Thailand — 0.0%
Samart Corp. PCL (Expires 05/17/21)(a)
 101,933 1,211
Total Warrants — 0.0%

(Cost: $0)
 1,211
Short-Term Investments
Money Market Funds — 9.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(f)(g)(h)
 31,413,306 31,419,589
Total Short-Term Investments — 9.4%

(Cost: $31,414,071)
 31,419,589
Total Investments in Securities — 109.0%

(Cost: $344,807,640)
 365,307,159
Other Assets, Less Liabilities — (9.0)%
 (30,145,295)
Net Assets — 100.0%
 $ 335,161,864
    
(a) Non-income producing security.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) All or a portion of this security is on loan.
(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(e) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(f) Affiliate of the Fund.
(g) Annualized 7-day yield as of period-end.
(h) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
  
102

iShares® MSCI Emerging Markets Small-Cap ETF
Consolidated Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 25,015,086 6,398,220 31,413,306 $31,419,589   $1,122,956 (a)   $ (3,840)   $ 1,033
BlackRock Cash Funds: Treasury, SL Agency Shares
 579,280 (579,280) — —   5,865   —   —
        $31,419,589   $1,128,821   $ (3,840)   $ 1,033
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Consolidated Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $327,179,713   $  2,758,391   $    131,711   $330,069,815
Preferred Stocks
   3,798,593            —            —      3,798,593
Rights
       5,690        12,261            —         17,951
Warrants
       1,211            —            —          1,211
Money Market Funds
  31,419,589            —            —    31,419,589
  $362,404,796   $  2,770,652   $    131,711   $365,307,159
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
CPO
 Certificates of Participation (Ordinary)
GDR
 Global Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
103
  

iShares® MSCI Eurozone ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Austria — 0.7%
ANDRITZ AG
     186,394 $      9,290,566
Erste Group Bank AG
     765,070      31,864,595
OMV AG
     373,762      21,465,580
Raiffeisen Bank International AG(a)
     372,910      11,792,216
Voestalpine AG
     285,412     15,312,096
    89,725,053
Belgium — 3.2%
Ageas
 475,476 24,087,999
Anheuser-Busch InBev SA/NV
 1,931,752 180,890,773
Colruyt SA
 149,994 7,961,249
Groupe Bruxelles Lambert SA
 204,976 21,706,432
KBC Group NV
 637,843 49,289,472
Proximus SADP
 382,079 10,217,876
Solvay SA
 191,013 25,641,484
Telenet Group Holding NV(a)
 132,130 6,672,220
UCB SA
 320,412 25,246,137
Umicore SA
 528,469 29,857,075
    381,570,717
Finland — 3.1%
Elisa OYJ
 358,299 15,997,769
Fortum OYJ
 1,129,573 26,516,046
Kone OYJ, Class B
 863,776 42,700,891
Metso OYJ
 267,845 9,260,853
Neste OYJ
 324,596 26,379,075
Nokia OYJ
 14,243,669 82,135,557
Nokian Renkaat OYJ
 292,447 11,337,007
Orion OYJ, Class B
 263,389 7,775,509
Sampo OYJ, Class A
 1,114,266 54,732,715
Stora Enso OYJ, Class R
 1,392,092 28,445,426
UPM-Kymmene OYJ
 1,348,527 49,443,587
Wartsila OYJ Abp
 1,131,419 23,884,952
    378,609,387
France — 33.1%
Accor SA, NVS
 477,035 26,065,813
Aeroports de Paris, NVS
 75,997 15,852,705
Air Liquide SA
 1,086,152 133,632,965
Airbus SE
 1,471,113 167,103,633
Alstom SA, NVS
 389,067 18,393,391
Amundi SA(b)
 154,648 11,289,756
Arkema SA, NVS
 172,153 20,949,470
Atos SE
 238,864 32,399,568
AXA SA, NVS
 4,914,381 122,332,049
BioMerieux, NVS
 101,777 8,945,961
BNP Paribas SA
 2,846,862 176,325,875
Bollore SA, NVS
 2,229,190 10,960,184
Bouygues SA, NVS
 549,863 25,378,944
Bureau Veritas SA, NVS
 671,725 16,630,855
Capgemini SE
 405,421 53,311,368
Carrefour SA, NVS
 1,466,784 26,410,324
Casino Guichard Perrachon SA, NVS
 141,984 6,132,302
Cie. de Saint-Gobain, NVS
 1,264,335 63,277,408
Cie. Generale des Etablissements Michelin SCA, Class B, NVS
 431,371 55,741,795
CNP Assurances, NVS
 429,822 10,044,657
Credit Agricole SA
 2,888,299 39,581,535
Danone SA, NVS(c)
 1,528,548 116,673,655
Dassault Aviation SA, NVS
 6,435 12,454,189
Dassault Systemes SE, NVS
 328,405 46,059,150
 Security Shares Value
France (continued)
Edenred, NVS(c)
     585,337 $     18,741,924
Eiffage SA, NVS
     192,811      21,696,577
Electricite de France SA, NVS
   1,476,201      19,644,127
Engie SA
   4,626,591      73,097,371
Essilor International Cie Generale d'Optique SA, NVS
     526,445      71,837,284
Eurazeo SA, NVS
     113,207       8,853,816
Eurofins Scientific SE, NVS
      29,088      14,919,570
Eutelsat Communications SA
     440,435       8,446,986
Faurecia SA, NVS
 189,923 16,073,037
Fonciere Des Regions
 84,194 8,771,457
Gecina SA
 117,116 20,233,002
Getlink, NVS
 1,182,071 15,992,243
Hermes International, NVS
 80,278 57,049,728
ICADE
 85,960 7,977,116
Iliad SA, NVS
 66,425 11,239,116
Imerys SA, NVS
 89,860 7,646,740
Ingenico Group SA, NVS
 150,191 11,991,745
Ipsen SA, NVS
 95,807 15,181,667
JCDecaux SA
 189,356 5,883,957
Kering SA, NVS
 192,123 109,822,632
Klepierre SA
 526,163 20,464,808
Legrand SA
 674,775 50,835,878
L'Oreal SA
 637,868 153,086,295
LVMH Moet Hennessy Louis Vuitton SE, NVS
 706,716 245,051,219
Natixis SA
 2,373,269 17,170,420
Orange SA, NVS
 5,056,322 86,910,533
Pernod Ricard SA, NVS
 537,718 90,197,340
Peugeot SA, NVS
 1,483,201 34,531,579
Publicis Groupe SA, NVS
 520,720 36,190,574
Remy Cointreau SA, NVS
 57,356 8,482,773
Renault SA, NVS
 487,675 47,038,193
Rexel SA
 764,646 11,233,007
Safran SA
 846,495 100,935,783
Sanofi, NVS
 2,857,533 218,915,264
Schneider Electric SE, NVS
 1,365,408 117,593,544
SCOR SE
 432,636 15,948,402
SEB SA, NVS
 57,202 10,316,255
SES SA(c)
 914,099 15,765,332
Societe BIC SA, NVS
 67,086 6,515,348
Societe Generale SA, NVS
 1,944,825 83,667,989
Sodexo SA, NVS
 229,578 22,248,226
STMicroelectronics NV
 1,729,521 41,104,181
Suez
 928,800 12,771,735
Teleperformance, NVS
 146,037 23,047,402
Thales SA, NVS
 266,857 33,922,579
TOTAL SA, NVS
 6,087,246 369,848,595
Ubisoft Entertainment SA, NVS(a)
 196,278 21,220,655
Unibail-Rodamco SE
 351,086 78,911,340
Valeo SA, NVS
 608,322 38,572,312
Veolia Environnement SA, NVS
 1,341,053 30,400,278
Vinci SA
 1,277,584 124,853,600
Vivendi SA, NVS
 2,611,653 65,605,481
Wendel SA, NVS
 71,960 9,491,874
    3,983,896,441
Germany — 27.5%
1&1 Drillisch AG
 132,576 9,161,551
adidas AG
 476,492 107,682,059
Allianz SE, Registered
 1,111,320 228,807,815
Axel Springer SE
 123,633 8,962,071
BASF SE
 2,320,694 228,228,657
 
 
  
104

iShares® MSCI Eurozone ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Germany (continued)
Bayer AG, Registered
   2,091,698 $    248,705,299
Bayerische Motoren Werke AG
     835,882      83,307,386
Beiersdorf AG
     256,386      29,407,185
Brenntag AG
     391,512      22,548,965
Commerzbank AG(a)
   2,541,100      25,933,708
Continental AG
     278,720      70,633,438
Covestro AG(b)
     486,334      44,246,347
Daimler AG, Registered
   2,297,353     165,407,228
Delivery Hero AG(a)(b)
 235,524 10,810,134
Deutsche Bank AG, Registered
 4,963,953 53,059,513
Deutsche Boerse AG
 488,361 65,215,283
Deutsche Lufthansa AG, Registered
 591,743 16,059,739
Deutsche Post AG, Registered
 2,482,194 94,080,669
Deutsche Telekom AG, Registered
 8,425,049 130,012,849
Deutsche Wohnen SE
 896,996 42,018,646
E.ON SE
 5,582,386 59,116,034
Evonik Industries AG
 415,825 14,552,065
Fraport AG Frankfurt Airport Services Worldwide
 104,713 9,780,961
Fresenius Medical Care AG & Co. KGaA
 546,254 54,467,392
Fresenius SE & Co. KGaA
 1,053,009 80,830,688
GEA Group AG(c)
 440,419 16,194,181
Hannover Rueck SE
 153,023 19,291,360
HeidelbergCement AG
 380,155 33,636,616
Henkel AG & Co. KGaA
 259,619 29,229,480
HOCHTIEF AG
 49,489 9,081,208
HUGO BOSS AG(c)
 158,822 14,253,005
Infineon Technologies AG
 2,882,550 79,039,148
Innogy SE(b)(c)
 352,675 14,865,672
K+S AG, Registered
 481,226 12,863,731
KION Group AG
 178,294 14,472,841
LANXESS AG
 221,159 17,472,190
Linde AG
 470,640 107,678,077
MAN SE
 87,427 9,501,182
Merck KGaA
 329,949 33,638,947
METRO AG(c)
 452,842 6,089,499
MTU Aero Engines AG
 132,545 25,018,182
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered
 393,039 80,885,439
OSRAM Licht AG
 249,638 14,709,992
ProSiebenSat.1 Media SE(c)
 586,587 17,234,474
Puma SE
 4,901 2,969,166
Puma SE
 16,984 10,289,392
QIAGEN NV(a)
 575,523 20,866,352
RTL Group SA
 98,602 7,429,582
RWE AG
 1,314,666 29,763,747
SAP SE
 2,486,658 279,643,730
Siemens AG, Registered
 1,934,787 251,820,113
Siemens Healthineers AG(a)(b)
 380,445 15,101,394
Symrise AG
 312,791 25,361,294
Telefonica Deutschland Holding AG
 1,903,176 8,033,222
thyssenkrupp AG
 1,103,850 29,081,982
Uniper SE
 505,193 15,998,877
United Internet AG, Registered(d)
 314,135 20,021,258
Volkswagen AG
 81,772 15,186,482
Vonovia SE
 1,229,836 57,940,301
Wirecard AG
 298,113 45,986,512
Zalando SE(a)(b)(c)
 284,112 15,106,378
    3,308,790,688
Ireland — 1.7%
AIB Group PLC
 2,029,384 11,072,236
 Security Shares Value
Ireland (continued)
Bank of Ireland Group PLC
   2,326,264 $     19,198,213
CRH PLC
   2,114,073      77,981,116
Irish Bank Resolution Corp. Ltd.(a)(e)
     446,666               5
Kerry Group PLC, Class A
     404,297      42,545,011
Paddy Power Betfair PLC
     213,417      25,908,647
Ryanair Holdings PLC(a)
      42,432         809,582
Ryanair Holdings PLC, ADR, NVS(a)
      58,572       6,789,080
Smurfit Kappa Group PLC
     575,875     23,796,543
    208,100,433
Italy — 7.0%
Assicurazioni Generali SpA(c)
 3,015,292 51,212,356
Atlantia SpA
 1,245,740 36,048,427
CNH Industrial NV
 2,579,895 30,175,338
Davide Campari-Milano SpA, NVS
 1,432,803 10,687,342
Enel SpA
 20,597,652 113,077,209
Eni SpA
 6,456,048 116,734,857
Ferrari NV
 311,897 40,594,617
Fiat Chrysler Automobiles NV(a)
 2,729,246 61,805,454
Intesa Sanpaolo SpA
 34,121,370 100,152,198
Leonardo SpA(c)
 988,508 10,066,494
Luxottica Group SpA
 431,349 26,827,203
Mediobanca Banca di Credito Finanziario SpA
 1,548,126 14,579,901
Moncler SpA
 462,056 21,180,583
Pirelli & C SpA(a)(b)
 984,507 8,409,954
Poste Italiane SpA(b)
 1,328,689 11,359,365
Prysmian SpA
 524,234 14,564,129
Recordati SpA
 266,058 9,845,051
Snam SpA
 5,798,671 23,744,905
Telecom Italia SpA/Milano(a)(c)
 29,220,906 23,440,087
Tenaris SA
 1,196,077 21,431,369
Terna Rete Elettrica Nazionale SpA
 3,544,719 18,748,143
UniCredit SpA
 5,077,589 83,773,183
    848,458,165
Netherlands — 11.3%
ABN AMRO Group NV, CVA(b)
 1,075,686 27,900,498
Aegon NV
 4,528,034 28,150,961
AerCap Holdings NV(a)(c)
 337,626 18,674,094
Akzo Nobel NV
 639,542 56,064,944
ArcelorMittal
 1,684,256 54,459,075
ASML Holding NV
 1,038,275 202,885,139
EXOR NV
 274,764 19,885,381
Heineken Holding NV
 293,626 28,551,038
Heineken NV
 654,241 65,402,869
ING Groep NV
 9,839,262 143,084,713
Koninklijke Ahold Delhaize NV
 3,155,084 72,384,281
Koninklijke DSM NV
 459,782 45,716,396
Koninklijke KPN NV
 8,511,921 23,120,986
Koninklijke Philips NV
 2,382,024 97,374,370
Koninklijke Vopak NV
 175,918 8,624,659
NN Group NV
 774,308 33,225,508
NXP Semiconductors NV(a)
 870,052 99,185,928
Randstad NV
 301,878 17,992,631
RELX NV
 2,447,046 53,358,227
Unilever NV
 3,897,351 217,187,247
Wolters Kluwer NV
 733,115 41,110,948
    1,354,339,893
Portugal — 0.5%
EDP - Energias de Portugal SA
 6,447,239 25,211,632
Galp Energia SGPS SA
 1,279,410 23,738,467
 
 
105
  

iShares® MSCI Eurozone ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Portugal (continued)
Jeronimo Martins SGPS SA
     628,821 $      9,872,604
    58,822,703
Spain — 9.0%
ACS Actividades de Construccion y Servicios SA
     635,662      26,348,707
Aena SME SA(b)
     170,805      32,758,238
Amadeus IT Group SA
   1,113,262      88,236,758
Banco Bilbao Vizcaya Argentaria SA
  16,886,887     115,098,711
Banco de Sabadell SA
  14,180,372      23,802,847
Banco Santander SA
 40,853,851 219,367,971
Bankia SA
 3,104,477 11,763,034
Bankinter SA
 1,709,397 16,449,902
CaixaBank SA
 9,115,492 38,688,899
Enagas SA
 574,490 15,296,432
Endesa SA
 796,152 17,513,563
Ferrovial SA
 1,241,202 25,253,538
Gas Natural SDG SA
 880,149 21,565,078
Grifols SA
 755,645 22,228,018
Iberdrola SA
 14,681,982 104,063,598
Industria de Diseno Textil SA
 2,759,529 87,004,543
International Consolidated Airlines Group SA
 1,548,664 14,042,641
Mapfre SA
 2,704,294 8,182,223
Red Electrica Corp. SA
 1,165,739 22,656,768
Repsol SA
 3,336,193 63,497,168
Siemens Gamesa Renewable Energy SA(c)
 601,012 9,229,037
Telefonica SA
 11,828,890 104,207,920
    1,087,255,594
United Kingdom — 0.2%
Coca-Cola European Partners PLC, NVS
 547,841 20,801,523
Total Common Stocks — 97.3%

(Cost: $11,942,111,436)
 11,720,370,597
Preferred Stocks
Germany — 1.8%
Bayerische Motoren Werke AG, Preference Shares, NVS
 140,327 12,277,085
Fuchs Petrolub SE, Preference Shares, NVS
 178,016 9,321,820
Henkel AG & Co. KGaA, Preference Shares, NVS
 454,239 56,019,123
Porsche Automobil Holding SE, Preference Shares, NVS
 389,689 28,694,074
Sartorius AG, Preference Shares, NVS
 91,555 13,391,077
Schaeffler AG, Preference Shares, NVS
 425,455 6,361,875
Volkswagen AG, Preference Shares, NVS
 471,441 88,567,367
    214,632,421
 Security Shares Value
Italy — 0.2%
Intesa Sanpaolo SpA, Preference Shares, NVS
   2,404,522 $      7,227,505
Telecom Italia SpA/Milano, Preference Shares, NVS
  14,985,900     10,478,329
    17,705,834
Total Preferred Stocks — 2.0%

(Cost: $269,859,536)
 232,338,255
Rights
Spain — 0.0%
Ferrovial SA, NVS (Expires 06/05/18)(a)
   1,308,533        476,564
Total Rights — 0.0%

(Cost: $473,708)
 476,564
Short-Term Investments
Money Market Funds — 1.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(f)(g)(h)
 132,664,600 132,691,133
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(f)(g)
 6,066,467 6,066,467
    138,757,600
Total Short-Term Investments — 1.1%

(Cost: $138,736,230)
 138,757,600
Total Investments in Securities — 100.4%

(Cost: $12,351,180,910)
 12,091,943,016
Other Assets, Less Liabilities — (0.4)%
 (49,936,958)
Net Assets — 100.0%
 $ 12,042,006,058
    
(a) Non-income producing security.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) All or a portion of this security is on loan.
(d) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(e) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(f) Affiliate of the Fund.
(g) Annualized 7-day yield as of period-end.
(h) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
  
106

iShares® MSCI Eurozone ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 57,577,483 75,087,117 132,664,600 $132,691,133   $1,534,318 (a)   $ (32,992)   $ 12,332
BlackRock Cash Funds: Treasury, SL Agency Shares
 489,933 5,576,534 6,066,467 6,066,467   56,499   —   —
        $138,757,600   $1,590,817   $ (32,992)   $ 12,332
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
Euro STOXX 50
 2,167 06/15/18 $ 86,181 $ (3,262,169)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $ 11,720,370,592   $            —   $             5   $ 11,720,370,597
Preferred Stocks
    232,338,255               —               —       232,338,255
Rights
        476,564               —               —           476,564
Money Market Funds
    138,757,600               —               —      138,757,600
  $ 12,091,943,011   $            —   $             5   $12,091,943,016
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $ (3,262,169)   $ —   $ —   $ (3,262,169)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
NVS
 Non-Voting Shares
107
  

iShares® MSCI France ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 7.7%
Airbus SE
   312,750 $  35,525,253
Dassault Aviation SA, NVS
     1,336    2,585,671
Safran SA
   179,566   21,411,390
Thales SA, NVS
    56,975   7,242,602
    66,764,916
Air Freight & Logistics — 0.3%
Bollore SA, NVS
   471,770   2,319,536
Auto Components — 2.7%
Cie. Generale des Etablissements Michelin SCA, Class B, NVS
 92,215 11,916,030
Faurecia SA, NVS
 40,787 3,451,772
Valeo SA, NVS
 129,155 8,189,424
    23,557,226
Automobiles — 2.0%
Peugeot SA, NVS
 316,209 7,361,913
Renault SA, NVS
 103,504 9,983,372
    17,345,285
Banks — 7.3%
BNP Paribas SA
 604,749 37,456,293
Credit Agricole SA
 613,220 8,403,627
Societe Generale SA, NVS
 412,979 17,766,700
    63,626,620
Beverages — 2.4%
Pernod Ricard SA, NVS
 114,244 19,163,399
Remy Cointreau SA, NVS
 12,212 1,806,117
    20,969,516
Building Products — 1.5%
Cie. de Saint-Gobain, NVS
 267,869 13,406,301
Capital Markets — 0.7%
Amundi SA(a)
 32,537 2,375,296
Natixis SA
 505,827 3,659,620
    6,034,916
Chemicals — 3.8%
Air Liquide SA
 230,419 28,349,231
Arkema SA, NVS
 36,604 4,454,377
    32,803,608
Commercial Services & Supplies — 0.6%
Edenred, NVS(b)
 126,298 4,043,940
Societe BIC SA, NVS
 14,013 1,360,933
    5,404,873
Construction & Engineering — 4.2%
Bouygues SA, NVS
 116,375 5,371,292
Eiffage SA, NVS
 42,040 4,730,664
Vinci SA
 270,828 26,467,028
    36,568,984
Construction Materials — 0.2%
Imerys SA, NVS
 19,391 1,650,100
Diversified Financial Services — 0.4%
Eurazeo SA, NVS
 24,577 1,922,144
Wendel SA, NVS
 14,940 1,970,659
    3,892,803
Diversified Telecommunication Services — 2.4%
Iliad SA, NVS
 14,200 2,402,641
 Security   Shares Value
Diversified Telecommunication Services (continued)
Orange SA, NVS
 1,073,688 $  18,455,074
    20,857,715
Electric Utilities — 0.5%
Electricite de France SA, NVS(b)
   315,391   4,196,977
Electrical Equipment — 4.1%
Legrand SA
   143,239   10,791,272
Schneider Electric SE, NVS
   290,007  24,976,381
    35,767,653
Electronic Equipment, Instruments & Components — 0.3%
Ingenico Group SA, NVS
 31,874 2,544,925
Equity Real Estate Investment Trusts (REITs) — 3.3%
Fonciere Des Regions
 19,848 2,067,794
Gecina SA
 24,584 4,247,141
ICADE
 18,040 1,674,118
Klepierre SA
 111,026 4,318,293
Unibail-Rodamco SE
 74,273 16,693,864
    29,001,210
Food & Staples Retailing — 0.8%
Carrefour SA, NVS
 312,940 5,634,672
Casino Guichard Perrachon SA, NVS
 30,049 1,297,819
    6,932,491
Food Products — 2.9%
Danone SA, NVS(b)
 324,800 24,791,896
Health Care Equipment & Supplies — 2.0%
BioMerieux, NVS
 22,403 1,969,172
Essilor International Cie Generale d'Optique SA, NVS
 111,944 15,275,580
    17,244,752
Hotels, Restaurants & Leisure — 1.2%
Accor SA, NVS
 101,171 5,528,115
Sodexo SA, NVS
 48,601 4,709,885
    10,238,000
Household Durables — 0.3%
SEB SA, NVS
 12,153 2,191,767
Insurance — 3.6%
AXA SA, NVS
 1,043,876 25,984,857
CNP Assurances, NVS
 92,594 2,163,861
SCOR SE
 90,024 3,318,584
    31,467,302
IT Services — 2.1%
Atos SE
 50,986 6,915,753
Capgemini SE
 86,509 11,375,614
    18,291,367
Life Sciences Tools & Services — 0.4%
Eurofins Scientific SE, NVS
 6,177 3,168,254
Machinery — 0.5%
Alstom SA, NVS
 83,470 3,946,098
Media — 3.3%
Eutelsat Communications SA
 94,296 1,808,478
JCDecaux SA
 40,339 1,253,475
Publicis Groupe SA, NVS
 111,409 7,743,040
SES SA
 195,917 3,378,952
Vivendi SA, NVS
 557,952 14,015,916
    28,199,861
 
 
  
108

iShares® MSCI France ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Metals & Mining — 1.3%
ArcelorMittal
   357,641 $  11,564,037
Multi-Utilities — 2.9%
Engie SA
   979,795   15,480,175
Suez
   198,117    2,724,265
Veolia Environnement SA, NVS
   288,345   6,536,482
    24,740,922
Oil, Gas & Consumable Fuels — 9.1%
TOTAL SA, NVS
 1,296,779  78,789,635
Personal Products — 3.8%
L'Oreal SA
 135,578 32,538,290
Pharmaceuticals — 5.7%
Ipsen SA, NVS
 20,226 3,205,031
Sanofi, NVS
 607,945 46,574,594
    49,779,625
Professional Services — 1.0%
Bureau Veritas SA, NVS
 142,431 3,526,368
Teleperformance, NVS
 31,030 4,897,121
    8,423,489
Semiconductors & Semiconductor Equipment — 1.0%
STMicroelectronics NV
 367,502 8,734,134
Software — 1.7%
Dassault Systemes SE, NVS
 69,817 9,791,908
Ubisoft Entertainment SA, NVS(c)
 41,933 4,533,599
    14,325,507
Textiles, Apparel & Luxury Goods — 10.1%
Hermes International, NVS
 17,045 12,113,065
Kering SA, NVS
 40,774 23,307,506
LVMH Moet Hennessy Louis Vuitton SE, NVS
 150,068 52,035,537
Puma SE
 35 21,204
    87,477,312
Trading Companies & Distributors — 0.3%
Rexel SA
 163,463 2,401,348
 Security   Shares Value
Transportation Infrastructure — 0.8%
Aeroports de Paris, NVS
    15,938 $   3,324,611
Getlink, NVS
   251,507   3,402,639
    6,727,250
Total Common Stocks — 99.2%

(Cost: $855,568,614)
 858,686,501
Short-Term Investments
Money Market Funds — 0.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
   792,206      792,364
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
   719,280     719,280
    1,511,644
Total Short-Term Investments — 0.2%

(Cost: $1,511,643)
 1,511,644
Total Investments in Securities — 99.4%

(Cost: $857,080,257)
 860,198,145
Other Assets, Less Liabilities — 0.6%
 5,444,200
Net Assets — 100.0%
 $ 865,642,345
    
(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b) All or a portion of this security is on loan.
(c) Non-income producing security.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 — 792,206 792,206 $ 792,364   $113,006 (a)   $ (158)   $ 1
BlackRock Cash Funds: Treasury, SL Agency Shares
 218,501 500,779 719,280 719,280   2,067   —   —
        $1,511,644   $115,073   $ (158)   $ 1
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
109
  

iShares® MSCI France ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
CAC 40 Index
 105 06/15/18 $ 6,592 $ (136,594)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $858,686,501   $         —   $         —   $858,686,501
Money Market Funds
   1,511,644            —            —     1,511,644
  $860,198,145   $         —   $         —   $860,198,145
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $    (136,594)   $         —   $         —   $    (136,594)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
  
110

iShares® MSCI Frontier 100 ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Argentina — 20.6%
Adecoagro SA(a)
     436,670 $   3,550,127
Arcos Dorados Holdings Inc., Class A
     555,616    4,111,558
Banco Macro SA, ADR
     210,709   16,563,834
BBVA Banco Frances SA, ADR
     329,277    4,725,125
Central Puerto SA, ADR
     316,075    4,276,495
Corp. America Airports SA(a)
     137,986    1,647,553
Cresud SACIF y A, ADR
     156,947    2,657,113
Empresa Distribuidora y Comercializadora Norte SA, ADR(a)
 98,184 4,375,079
Globant SA(a)(b)
 125,148 6,445,122
Grupo Financiero Galicia SA, ADR
 471,233 19,928,444
Grupo Supervielle SA, ADR(b)
 273,916 4,703,138
IRSA Inversiones y Representaciones SA, ADR
 103,348 1,963,612
Loma Negra Cia Industrial Argentina SA, ADR(a)
 270,498 3,489,424
Pampa Energia SA, ADR(a)
 295,041 14,073,456
Telecom Argentina SA, ADR
 491,308 10,823,515
Transportadora de Gas del Sur SA, Class B, ADR(a)
 345,160 5,753,817
YPF SA, ADR
 794,743 14,432,533
    123,519,945
Bahrain — 3.8%
Ahli United Bank BSC
 28,172,470 15,656,550
Aluminium Bahrain BSC
 922,686 1,502,388
GFH Financial Group BSC
 12,163,555 4,702,298
Ithmaar Holding BSC(a)
 8,111,597 906,953
    22,768,189
Bangladesh — 6.0%
ACI Ltd.
 108,023 435,215
Acme Laboratores Ltd. (The)
 1,013,275 1,162,249
Bangladesh Export Import Co. Ltd.
 4,282,136 1,396,766
Beximco Pharmaceuticals Ltd.
 2,284,474 2,683,121
BRAC Bank Ltd.
 3,904,297 3,475,358
City Bank Ltd. (The)
 3,818,228 1,541,981
Eastern Bank Ltd.
 2,256,247 970,487
GrameenPhone Ltd.
 674,478 3,342,774
International Finance Investment & Commerce Bank Ltd.(a)
 5,688,196 863,135
Islami Bank Bangladesh Ltd.
 4,528,168 1,271,425
LafargeHolcim Bangladesh Ltd.
 2,788,582 1,805,856
National Bank Ltd.(a)
 12,829,972 1,502,285
Olympic Industries Ltd.
 1,003,138 2,844,192
Pubali Bank Ltd.
 2,510,791 683,984
Renata Ltd.
 64,201 927,327
Square Pharmaceuticals Ltd.
 2,954,126 9,960,623
Summit Power Ltd.
 2,978,750 1,274,141
    36,140,919
British Virgin Islands — 0.4%
Despegar.com Corp.(a)
 89,373 2,081,497
Croatia — 0.3%
Valamar Riviera DD
 299,827 1,942,498
Jordan — 1.9%
Al-Eqbal Investment Co. PLC(a)
 53,619 2,471,235
Arab Bank PLC
 497,826 4,911,602
Bank of Jordan
 331,372 1,167,625
Jordan Islamic Bank
 290,283 1,333,788
Jordan Petroleum Refinery Co.
 437,553 1,578,768
    11,463,018
 Security Shares Value
Kazakhstan — 0.9%
Halyk Savings Bank of Kazakhstan JSC, GDR(c)
     383,735 $   4,624,007
KCell JSC, GDR(c)
     211,846     953,307
    5,577,314
Kenya — 7.0%
Co-operative Bank of Kenya Ltd. (The)
  12,594,060    2,111,430
East African Breweries Ltd.
   2,399,242    5,560,373
Equity Group Holdings Ltd./Kenya
  16,499,900    7,688,563
KCB Group Ltd.
  14,048,436    6,373,058
Safaricom PLC
 72,190,567 20,112,264
    41,845,688
Kuwait — 18.5%
Agility Public Warehousing Co. KSC
 3,729,020 9,004,911
Al Mazaya Holding Co. KSCP
 425,096 123,324
Alimtiaz Investment Co. KSCC
 3,499,274 1,504,815
Boubyan Bank KSCP
 3,179,200 5,258,353
Burgan Bank SAK
 3,027,294 2,453,480
Gulf Bank KSCP
 5,880,152 5,076,810
Human Soft Holding Co. KSC
 298,500 3,278,267
Kuwait Finance House KSCP
 13,953,483 23,632,760
Kuwait International Bank KSCP
 2,220,496 1,608,629
Kuwait Projects Co. Holding KSCP
 2,091,676 1,660,609
Mabanee Co. SAK
 2,255,261 4,707,475
Mezzan Holding Co. KSCC
 601,710 1,405,251
Mobile Telecommunications Co. KSC
 10,591,316 13,138,417
National Bank of Kuwait SAKP
 13,664,072 32,679,868
National Industries Group Holding SAK
 4,454,155 2,210,133
National Real Estate Co. KPSC(a)
 2,920,925 1,024,208
Warba Bank KSCP(a)
 2,198,205 1,723,370
    110,490,680
Mauritius — 0.9%
Greenbay Properties Ltd.
 47,250,625 5,111,201
Morocco — 7.4%
Attijariwafa Bank
 244,386 12,481,645
Banque Centrale Populaire
 125,536 3,839,931
Ciments du Maroc
 17,087 3,015,427
Cosumar
 112,662 3,261,078
Douja Promotion Groupe Addoha SA
 776,251 1,757,315
Maroc Telecom
 1,075,356 16,203,203
Societe d'Exploitation des Ports
 131,667 2,635,531
TOTAL Maroc SA
 7,809 1,295,045
    44,489,175
Netherlands — 0.1%
Digi Communications NV(d)
 63,937 464,350
Nigeria — 6.7%
Access Bank PLC
 86,644,398 2,497,857
Afriland Properties PLC(a)
 8,020 44
Dangote Cement PLC
 9,116,124 6,064,781
FBN Holdings PLC
 107,262,625 3,017,923
Guaranty Trust Bank PLC
 87,977,936 9,876,941
Lafarge Africa PLC
 15,827,202 1,526,782
Nestle Nigeria PLC
 1,851,615 7,557,874
United Bank for Africa PLC
 103,069,638 3,085,661
Zenith Bank PLC
 93,820,738 6,631,819
    40,259,682
Oman — 2.4%
Bank Muscat SAOG
 5,150,813 5,459,942
Bank Nizwa SAOG(a)
 5,131,760 1,186,611
 
 
111
  

iShares® MSCI Frontier 100 ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Oman (continued)
Bank Sohar SAOG
   2,527,837 $     886,615
Oman Telecommunications Co. SAOG
   2,001,919    3,890,453
Ooredoo QSC
   1,624,058    2,151,908
Phoenix Power Co. SAOC
   1,789,870     581,278
    14,156,807
Romania — 5.4%
Banca Transilvania SA
  19,017,309   11,334,993
BRD-Groupe Societe Generale SA
   1,320,269    4,099,958
OMV Petrom SA
 70,282,806 5,385,993
Societatea Energetica Electrica SA
 993,494 2,458,201
Societatea Nationala de Gaze Naturale ROMGAZ SA
 696,710 6,115,547
Transgaz SA Medias
 29,774 2,758,889
    32,153,581
Slovenia — 0.6%
Petrol DD Ljubljana
 2,726 1,065,990
Zavarovalnica Triglav DD
 62,875 2,495,395
    3,561,385
Sri Lanka — 0.3%
Sampath Bank PLC
 1,017,832 1,962,566
Vietnam — 16.2%
Bank for Foreign Trade of Vietnam JSC
 1,734,585 4,114,753
FLC Faros Construction JSC(a)
 851,662 2,266,767
Hoa Phat Group JSC(a)
 4,417,372 10,866,201
Hoa Sen Group
 106,431 49,468
Hoang Huy Investment Financial Services JSC
 1,073,110 1,312,802
Kinh Bac City Development Share Holding Corp.(a)
 1,455,630 804,215
Masan Group Corp.(a)
 2,773,530 9,850,738
No Va Land Investment Group Corp.(a)
 1,462,079 3,269,579
PetroVietnam Fertilizer & Chemicals JSC
 1,087,530 791,590
PetroVietnam Gas JSC
 342,290 1,356,793
PetroVietnam Technical Services Corp.
 1,288,200 960,247
Saigon Beer Alcohol Beverage Corp.
 381,450 4,014,207
Saigon Securities Inc.
 2,068,670 2,902,633
 Security Shares Value
Vietnam (continued)
Saigon Thuong Tin Commercial JSB(a)
   3,440,719 $   1,772,711
Thanh Thanh Cong - Bien Hoa JSC(a)
   1,644,150    1,063,370
Vietnam Dairy Products JSC
   3,305,810   23,801,368
Vincom Retail JSC(a)
   4,545,590    8,570,568
Vingroup JSC(a)
   3,758,770  19,118,535
    96,886,545
Total Common Stocks — 99.4%

(Cost: $530,621,483)
 594,875,040
Short-Term Investments
Money Market Funds — 0.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(e)(f)(g)
 2,493,267 2,493,766
Total Short-Term Investments — 0.4%

(Cost: $2,493,339)
 2,493,766
Total Investments in Securities — 99.8%

(Cost: $533,114,822)
 597,368,806
Other Assets, Less Liabilities — 0.2%
 1,286,190
Net Assets — 100.0%
 $ 598,654,996
    
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(c) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(d) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(e) Affiliate of the Fund.
(f) Annualized 7-day yield as of period-end.
(g) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 4,575,839 (2,082,572) 2,493,267 $2,493,766   $14,038 (a)   $ (452)   $ (236)
BlackRock Cash Funds: Treasury, SL Agency Shares
 3,859,935 (3,859,935) — —   42,021   —   —
        $2,493,766   $56,059   $ (452)   $ (236)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
  
112

iShares® MSCI Frontier 100 ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $594,874,996   $         44   $         —   $594,875,040
Money Market Funds
   2,493,766            —            —     2,493,766
  $597,368,762   $         44   $         —   $597,368,806
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
GDR
 Global Depositary Receipt
113
  

iShares® MSCI Germany ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 0.7%
MTU Aero Engines AG
    141,277 $    26,666,368
Air Freight & Logistics — 2.7%
Deutsche Post AG, Registered
  2,666,409   101,062,827
Airlines — 0.5%
Deutsche Lufthansa AG, Registered
    638,021    17,315,710
Auto Components — 2.0%
Continental AG
    298,462    75,636,470
Automobiles — 7.4%
Bayerische Motoren Werke AG
 898,318 89,530,011
Daimler AG, Registered
 2,467,716 177,673,202
Volkswagen AG
 88,074 16,356,873
    283,560,086
Banks — 0.7%
Commerzbank AG(a)
 2,720,956 27,769,265
Capital Markets — 3.3%
Deutsche Bank AG, Registered
 5,325,368 56,922,665
Deutsche Boerse AG
 523,642 69,926,676
    126,849,341
Chemicals — 12.7%
BASF SE
 2,491,979 245,073,681
Covestro AG(b)
 521,944 47,486,121
Evonik Industries AG
 443,246 15,511,680
K+S AG, Registered
 518,504 13,860,215
LANXESS AG
 237,019 18,725,176
Linde AG
 503,927 115,293,835
Symrise AG
 334,594 27,129,096
    483,079,804
Construction & Engineering — 0.3%
HOCHTIEF AG
 52,146 9,568,766
Construction Materials — 0.9%
HeidelbergCement AG
 403,384 35,691,949
Diversified Telecommunication Services — 3.9%
Deutsche Telekom AG, Registered
 9,042,997 139,548,839
Telefonica Deutschland Holding AG
 2,029,719 8,567,354
    148,116,193
Electrical Equipment — 0.4%
OSRAM Licht AG
 269,842 15,900,518
Food & Staples Retailing — 0.2%
METRO AG(c)
 486,047 6,536,016
Health Care Equipment & Supplies — 0.4%
Siemens Healthineers AG(a)(b)
 406,394 16,131,415
Health Care Providers & Services — 3.8%
Fresenius Medical Care AG & Co. KGaA
 584,886 58,319,418
Fresenius SE & Co. KGaA
 1,128,549 86,629,261
    144,948,679
Household Products — 0.8%
Henkel AG & Co. KGaA
 281,953 31,743,977
Independent Power and Renewable Electricity Producers — 0.5%
Uniper SE
 546,385 17,303,380
 Security   Shares Value
Industrial Conglomerates — 7.1%
Siemens AG, Registered
  2,075,565 $   270,142,921
Insurance — 9.3%
Allianz SE, Registered
  1,195,060    246,048,904
Hannover Rueck SE
    163,609     20,625,920
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered
    420,621    86,561,675
    353,236,499
Internet & Direct Marketing Retail — 0.4%
Zalando SE(a)(b)
    302,042    16,059,725
Internet Software & Services — 0.9%
Delivery Hero AG(a)(b)
 248,912 11,424,619
United Internet AG, Registered
 333,439 21,251,590
    32,676,209
IT Services — 1.3%
Wirecard AG
 318,493 49,130,303
Life Sciences Tools & Services — 0.6%
QIAGEN NV(a)
 619,152 22,448,179
Machinery — 1.1%
GEA Group AG(c)
 471,901 17,351,772
KION Group AG
 192,238 15,604,732
MAN SE
 95,504 10,378,955
    43,335,459
Media — 0.9%
Axel Springer SE
 132,361 9,594,758
ProSiebenSat.1 Media SE
 632,171 18,573,775
RTL Group SA
 104,468 7,871,580
    36,040,113
Metals & Mining — 0.8%
thyssenkrupp AG
 1,182,324 31,149,455
Multi-Utilities — 2.9%
E.ON SE
 5,971,924 63,241,141
Innogy SE(b)(c)
 376,827 15,883,708
RWE AG
 1,405,882 31,828,857
    110,953,706
Personal Products — 0.8%
Beiersdorf AG
 273,367 31,354,886
Pharmaceuticals — 7.9%
Bayer AG, Registered
 2,243,639 266,771,259
Merck KGaA
 350,655 35,749,964
    302,521,223
Real Estate Management & Development — 2.8%
Deutsche Wohnen SE
 962,687 45,095,858
Vonovia SE
 1,317,369 62,064,174
    107,160,032
Semiconductors & Semiconductor Equipment — 2.2%
Infineon Technologies AG
 3,082,690 84,526,961
Software — 7.9%
SAP SE
 2,666,502 299,868,565
Textiles, Apparel & Luxury Goods — 3.8%
adidas AG
 510,879 115,453,151
HUGO BOSS AG
 171,911 15,427,637
Puma SE
 22,547 13,659,617
    144,540,405
 
 
  
114

iShares® MSCI Germany ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Trading Companies & Distributors — 0.6%
Brenntag AG
    418,562 $    24,106,898
Transportation Infrastructure — 0.3%
Fraport AG Frankfurt Airport Services Worldwide
    112,439    10,502,626
Wireless Telecommunication Services — 0.3%
1&1 Drillisch AG
    144,520     9,986,931
Total Common Stocks — 93.1%

(Cost: $3,757,773,922)
 3,547,621,860
Preferred Stocks
Auto Components — 0.2%
Schaeffler AG, Preference Shares, NVS
 448,139 6,701,072
Automobiles — 3.6%
Bayerische Motoren Werke AG, Preference Shares, NVS
 150,005 13,123,805
Porsche Automobil Holding SE, Preference Shares, NVS
 415,460 30,591,677
Volkswagen AG, Preference Shares, NVS
 503,524 94,594,646
    138,310,128
Chemicals — 0.2%
Fuchs Petrolub SE, Preference Shares, NVS
 187,801 9,834,212
Health Care Equipment & Supplies — 0.4%
Sartorius AG, Preference Shares, NVS
 96,230 14,074,855
Household Products — 1.6%
Henkel AG & Co. KGaA, Preference Shares, NVS
 484,014 59,691,132
Total Preferred Stocks — 6.0%

(Cost: $268,524,516)
 228,611,399
 Security   Shares Value
Short-Term Investments
Money Market Funds — 0.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 31,333,427 $    31,339,693
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
     88,816        88,816
    31,428,509
Total Short-Term Investments — 0.8%

(Cost: $31,422,278)
 31,428,509
Total Investments in Securities — 99.9%

(Cost: $4,057,720,716)
 3,807,661,768
Other Assets, Less Liabilities — 0.1%
 2,484,361
Net Assets — 100.0%
 $ 3,810,146,129
    
(a) Non-income producing security.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) All or a portion of this security is on loan.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 69,810,722 (38,477,295) 31,333,427 $31,339,693   $685,622 (a)   $ (22,001)   $ 6,231
BlackRock Cash Funds: Treasury, SL Agency Shares
 589,306 (500,490) 88,816 88,816   11,595   —   —
        $31,428,509   $697,217   $ (22,001)   $ 6,231
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
DAX Index
 89 06/15/18 $ 32,756 $ (1,073,326)
115
  

iShares® MSCI Germany ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $3,547,621,860   $           —   $           —   $3,547,621,860
Preferred Stocks
   228,611,399              —              —      228,611,399
Money Market Funds
    31,428,509              —              —      31,428,509
  $3,807,661,768   $           —   $           —   $3,807,661,768
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $    (1,073,326)   $           —   $           —   $    (1,073,326)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
  
116

iShares® MSCI Global Agriculture Producers ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Australia — 2.0%
Australian Agricultural Co. Ltd.(a)(b)
    30,338 $     28,923
Costa Group Holdings Ltd.
    23,804     138,507
Elders Ltd.
     9,064      60,696
GrainCorp Ltd., Class A
    18,942     114,803
Inghams Group Ltd.
    20,438      61,239
Nufarm Ltd./Australia
    19,074     136,963
Select Harvests Ltd.
     7,854      41,302
Tassal Group Ltd.
 14,586 45,360
    627,793
Brazil — 0.4%
Sao Martinho SA
 13,200 62,100
SLC Agricola SA
 4,400 53,522
    115,622
Canada — 8.7%
Ag Growth International Inc.
 1,364 60,640
Nutrien Ltd.
 53,350 2,698,345
Rogers Sugar Inc.
 7,612 31,746
    2,790,731
China — 0.9%
Beijing Dabeinong Technology Group Co. Ltd., Class A
 2,200 1,879
China Agri-Industries Holdings Ltd.
 176,200 74,801
China BlueChemical Ltd., Class H
 132,000 44,089
China Huishan Dairy Holdings Co. Ltd.(a)(c)
 295,050 —
China Modern Dairy Holdings Ltd.(a)
 154,000 29,449
China Shengmu Organic Milk Ltd.(a)(b)(d)
 308,000 31,805
COFCO Meat Holdings Ltd.(a)(b)
 66,000 10,938
First Tractor Co. Ltd., Class H
 44,000 15,145
Henan Shuanghui Investment & Development Co. Ltd., Class A
 2,200 10,063
Inner Mongolia Yili Industrial Group Co. Ltd., Class A
 4,400 21,315
New Hope Liuhe Co. Ltd., Class A
 2,200 2,449
Qinghai Salt Lake Industry Co. Ltd., Class A
 2,200 4,221
Sinofert Holdings Ltd.(a)(b)
 176,000 23,783
Tongwei Co. Ltd., Class A
 2,200 3,874
    273,811
Finland — 0.1%
Ponsse OYJ
 924 32,573
France — 0.2%
Naturex, NVS(a)
 457 71,590
Germany — 1.9%
K+S AG, Registered
 15,862 424,010
KWS Saat SE
 198 74,307
Suedzucker AG(b)
 5,918 105,935
    604,252
Hong Kong — 2.3%
WH Group Ltd.(d)
 726,000 745,052
India — 2.4%
Bayer CropScience Ltd./India
 682 46,718
Chambal Fertilizers and Chemicals Ltd.
 8,162 20,440
Coromandel International Ltd.
 5,764 38,518
Deepak Fertilisers & Petrochemicals Corp. Ltd.
 1,694 8,135
Dhanuka Agritech Ltd.
 968 8,229
EID Parry India Ltd.(a)
 4,444 15,594
Escorts Ltd.
 4,950 68,397
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.
 3,080 21,787
 Security Shares Value
India (continued)
Jain Irrigation Systems Ltd.
    24,420 $     37,472
Kaveri Seed Co. Ltd.
     2,486      19,744
KRBL Ltd.
     3,894      30,981
Monsanto India Ltd.
       352      14,844
Rallis India Ltd.
     3,828      12,114
Sharda Cropchem Ltd.
     1,760      11,271
Tata Global Beverages Ltd.
    24,574      98,030
UPL Ltd.
    29,480     309,118
Venky's India Ltd.
 284 12,709
    774,101
Indonesia — 1.0%
Charoen Pokphand Indonesia Tbk PT
 611,600 161,978
Eagle High Plantations Tbk PT(a)
 781,000 10,511
Inti Agri Resources Tbk PT(a)
 2,644,400 45,675
Japfa Comfeed Indonesia Tbk PT
 380,600 42,593
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT
 259,600 21,485
Salim Ivomas Pratama Tbk PT
 261,800 10,269
Sawit Sumbermas Sarana Tbk PT
 264,000 22,705
Tunas Baru Lampung Tbk PT
 228,800 18,607
    333,823
Ireland — 0.2%
Origin Enterprises PLC
 10,142 63,929
Isreal — 1.0%
Israel Chemicals Ltd.
 58,300 270,178
Israel Corp. Ltd. (The)
 308 63,208
    333,386
Italy — 3.1%
CNH Industrial NV
 84,700 990,680
Japan — 6.7%
Chubu Shiryo Co. Ltd.
 2,200 41,491
Hokuto Corp.
 2,200 41,167
Iseki & Co. Ltd.
 2,200 40,094
Kubota Corp.
 81,400 1,373,337
Kumiai Chemical Industry Co. Ltd.
 8,800 55,241
Maruha Nichiro Corp.
 3,300 126,205
Mitsui Sugar Co. Ltd.
 800 26,913
NH Foods Ltd.
 7,100 292,443
Nihon Nohyaku Co. Ltd.
 4,400 27,904
Nippon Beet Sugar Manufacturing Co. Ltd.
 700 14,529
Sakata Seed Corp.
 2,200 82,820
YAMABIKO Corp.
 2,200 29,078
    2,151,222
Malaysia — 2.7%
Boustead Plantations Bhd
 37,400 12,028
Felda Global Ventures Holdings Bhd(b)
 134,200 52,938
Genting Plantations Bhd(b)
 19,800 47,261
IOI Corp. Bhd
 160,600 186,829
Kuala Lumpur Kepong Bhd
 35,200 220,221
QL Resources Bhd(b)
 55,905 74,306
Sime Darby Plantation Bhd
 198,000 275,608
    869,191
Mexico — 0.2%
Industrias Bachoco SAB de CV, Series B
 15,400 70,104
Netherlands — 0.7%
ForFarmers NV
 3,080 41,490
 
 
117
  

iShares® MSCI Global Agriculture Producers ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Netherlands (continued)
OCI NV(a)(b)
     6,116 $    167,557
    209,047
Norway — 6.2%
Austevoll Seafood ASA
     7,546      90,376
Bakkafrost P/F
     3,432     179,767
Grieg Seafood ASA
     4,158      46,598
Leroy Seafood Group ASA
    24,684     163,624
Marine Harvest ASA
    34,496     690,127
Norway Royal Salmon ASA
 1,072 24,551
Salmar ASA
 4,224 184,291
Yara International ASA
 14,696 605,617
    1,984,951
Pakistan — 0.5%
Engro Corp. Ltd./Pakistan
 22,000 58,609
Engro Fertilizers Ltd.
 42,967 27,631
Fauji Fertilizer Bin Qasim Ltd.
 33,000 11,260
Fauji Fertilizer Co. Ltd.
 46,100 39,210
Millat Tractors Ltd.
 2,200 23,379
    160,089
Poland — 0.1%
Grupa Azoty SA
 3,696 42,557
Russia — 0.5%
PhosAgro PJSC, GDR, NVS(e)
 9,724 129,329
Ros Agro PLC, GDR(e)
 1,782 20,443
    149,772
Singapore — 1.9%
Bumitama Agri Ltd.
 30,800 16,120
China XLX Fertiliser Ltd.
 44,000 18,174
First Resources Ltd.(b)
 46,200 56,306
Golden Agri-Resources Ltd.
 534,600 125,910
Indofood Agri Resources Ltd.
 2,100 393
Japfa Ltd.
 28,600 11,868
Wilmar International Ltd.
 158,400 383,727
    612,498
South Africa — 0.5%
Astral Foods Ltd.
 3,388 72,286
Oceana Group Ltd.
 3,256 21,595
Tongaat Hulett Ltd.
 9,042 57,829
    151,710
South Korea — 0.5%
Dongwon Industries Co. Ltd.
 110 34,083
Easy Bio Inc.
 3,388 29,261
Farmsco
 1,364 17,082
Jeil Holdings Co. Ltd.
 2,002 27,859
Namhae Chemical Corp.
 1,870 32,440
Sajo Industries Co. Ltd.
 198 12,307
    153,032
Sweden — 0.1%
Scandi Standard AB
 4,488 29,830
Taiwan — 0.3%
Charoen Pokphand Enterprise
 22,000 42,955
Taiwan Fertilizer Co. Ltd.
 44,000 63,442
    106,397
Thailand — 0.8%
Charoen Pokphand Foods PCL, NVDR
 283,800 221,788
GFPT PCL, NVDR(b)
 42,900 16,093
Khon Kaen Sugar Industry PCL, NVDR(b)
 134,354 13,860
 Security Shares Value
Thailand (continued)
Thaifoods Group PCL, NVDR(b)
   110,000 $     16,436
    268,177
Turkey — 0.0%
Gubre Fabrikalari TAS(a)
     3,333       2,343
Turk Traktor ve Ziraat Makineleri AS
     1,044     13,483
    15,826
United Kingdom — 0.5%
Sirius Minerals PLC(a)
   333,102    152,475
United States — 51.8%
AGCO Corp.
 5,258 334,409
AgroFresh Solutions Inc.(a)
 2,310 16,332
American Vanguard Corp.
 2,222 47,884
Archer-Daniels-Midland Co.
 46,310 2,024,673
Bunge Ltd.
 11,660 810,953
Cal-Maine Foods Inc.(a)
 2,530 121,567
CF Industries Holdings Inc.
 19,316 794,660
Darling Ingredients Inc.(a)
 13,662 256,709
Deere & Co.
 25,432 3,802,338
FMC Corp.
 11,132 969,486
Fresh Del Monte Produce Inc.
 2,640 118,562
Ingredion Inc.
 5,984 666,558
Intrepid Potash Inc.(a)
 8,030 35,974
Lindsay Corp.
 880 86,610
Monsanto Co.
 36,520 4,654,839
Mosaic Co. (The)
 30,294 832,782
Sanderson Farms Inc.
 1,694 165,809
Scotts Miracle-Gro Co. (The)
 3,542 301,531
Titan International Inc.
 4,202 48,785
Toro Co. (The)
 8,888 515,504
    16,605,965
Total Common Stocks — 98.2%

(Cost: $30,595,150)
 31,490,186
Preferred Stocks
Chile — 1.3%
Sociedad Quimica y Minera de Chile SA, Series B, Preference Shares
 7,986 415,935
Total Preferred Stocks — 1.3%

(Cost: $228,256)
 415,935
Short-Term Investments
Money Market Funds — 1.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(f)(g)(h)
 409,123 409,205
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(f)(g)
 34,588 34,588
    443,793
Total Short-Term Investments — 1.4%

(Cost: $443,711)
 443,793
Total Investments in Securities — 100.9%

(Cost: $31,267,117)
 32,349,914
Other Assets, Less Liabilities — (0.9)%
 (273,640)
Net Assets — 100.0%
 $ 32,076,274
 
 
  
118

iShares® MSCI Global Agriculture Producers ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(c) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(d) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(e) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(f) Affiliate of the Fund.
(g) Annualized 7-day yield as of period-end.
(h) All or a portion of this security was purchased with cash collateral received from loaned securities.
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Shares
Purchased 		Shares
Sold 		Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 1,885,655 — (1,476,532) (a) 409,123 $409,205   $ 19,211(b)   $ (95)   $ (45)
BlackRock Cash Funds: Treasury, SL Agency Shares
 37,102 — (2,514) (a) 34,588 34,588   371   —   —
iShares India 50 ETF
 22,680 4,117 (26,797) — —   1,308   137,122   (133,195)
          $443,793   $20,890   $ 137,027   $ (133,240)
    
(a) Net of purchases and sales.
(b) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $31,490,186   $        —   $         0 (a)   $31,490,186
Preferred Stocks
    415,935           —           —       415,935
Money Market Funds
    443,793           —           —      443,793
  $32,349,914   $        —   $         0 (a)   $32,349,914
    
(a) Rounds to less than $1.
Portfolio Abbreviations - Equity
GDR
 Global Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
119
  

iShares® MSCI Global Energy Producers ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Australia — 1.8%
Beach Energy Ltd.
  27,846 $     34,554
Karoon Gas Australia Ltd.(a)(b)
   4,716       3,925
Oil Search Ltd.
  22,590     141,357
Santos Ltd.(a)
  28,278     125,384
Washington H Soul Pattinson & Co. Ltd.
   1,764      26,067
Whitehaven Coal Ltd.
  10,800      42,984
Woodside Petroleum Ltd.
  14,706    360,636
    734,907
Austria — 0.3%
OMV AG
 2,250 129,220
Bermuda — 0.0%
FLEX LNG Ltd.(a)
 2,862 4,075
Gulf Keystone Petroleum Ltd.(a)
 3,618 9,205
    13,280
Brazil — 0.7%
Petroleo Brasileiro SA
 48,600 289,586
QGEP Participacoes SA
 1,800 5,892
    295,478
Canada — 7.8%
Advantage Oil & Gas Ltd.(a)(b)
 3,114 9,290
ARC Resources Ltd.
 6,030 62,104
Athabasca Oil Corp.(a)(b)
 5,148 6,945
Baytex Energy Corp.(a)
 3,458 14,528
Birchcliff Energy Ltd.
 4,068 14,332
Bonavista Energy Corp.
 3,636 4,513
Bonterra Energy Corp.
 756 9,704
Cameco Corp.
 6,444 66,616
Canacol Energy Ltd.(a)
 1,332 4,385
Canadian Natural Resources Ltd.
 19,368 670,236
Cardinal Energy Ltd.(b)
 2,880 11,678
Cenovus Energy Inc.
 16,560 174,638
Crescent Point Energy Corp.
 9,054 72,868
Crew Energy Inc.(a)
 3,186 5,919
Encana Corp.
 15,642 198,962
Enerplus Corp.
 3,780 46,186
Freehold Royalties Ltd.
 1,602 15,079
Husky Energy Inc.
 5,634 81,261
Imperial Oil Ltd.
 4,698 153,630
Kelt Exploration Ltd.(a)
 2,275 15,030
MEG Energy Corp.(a)(b)
 3,456 24,724
NexGen Energy Ltd.(a)
 5,329 10,065
NuVista Energy Ltd.(a)
 2,628 18,942
Obsidian Energy Ltd.(a)
 6,840 7,751
Painted Pony Energy Ltd.(a)(b)
 1,746 3,567
Paramount Resources Ltd., Class A(a)(b)
 1,206 14,736
Parex Resources Inc.(a)
 2,304 41,579
Pengrowth Energy Corp.(a)
 7,506 5,555
Peyto Exploration & Development Corp.
 2,934 23,952
PrairieSky Royalty Ltd.
 3,438 70,843
Raging River Exploration Inc.(a)
 3,474 20,621
Seven Generations Energy Ltd., Class A(a)
 4,184 54,122
Spartan Energy Corp.(a)
 3,150 16,221
Suncor Energy Inc.
 25,992 1,034,711
Surge Energy Inc.
 4,896 9,134
Tamarack Valley Energy Ltd.(a)
 2,970 9,868
TORC Oil & Gas Ltd.
 2,124 12,722
Tourmaline Oil Corp.(b)
 4,122 82,173
 Security Shares Value
Canada (continued)
Ultra Petroleum Corp.(a)
   2,880 $      5,126
Vermilion Energy Inc.
   1,926      67,481
Whitecap Resources Inc.
   6,894     49,903
    3,221,700
China — 2.4%
China Coal Energy Co. Ltd., Class H
  18,000       7,917
China Shenhua Energy Co. Ltd., Class H
  54,000     141,124
CNOOC Ltd.
 288,000     484,641
Inner Mongolia Yitai Coal Co. Ltd., Class B
 18,000 24,066
MIE Holdings Corp.(a)
 30,000 1,358
PetroChina Co. Ltd., Class H
 344,000 284,615
Yanzhou Coal Mining Co. Ltd., Class H
 36,000 51,952
    995,673
Colombia — 0.2%
Ecopetrol SA
 80,838 86,492
Finland — 0.4%
Neste OYJ
 1,998 162,372
France — 5.6%
Esso SA Francaise(a)
 54 3,221
Etablissements Maurel et Prom(a)
 1,152 7,651
TOTAL SA, NVS
 38,250 2,323,992
    2,334,864
Greece — 0.1%
Motor Oil Hellas Corinth Refineries SA
 1,065 21,557
Hungary — 0.2%
MOL Hungarian Oil & Gas PLC
 6,516 61,337
India — 1.8%
Bharat Petroleum Corp. Ltd.
 4,050 24,243
Gujarat Mineral Development Corp. Ltd.
 100 172
Reliance Industries Ltd., GDR, NVS(c)
 27,900 739,350
    763,765
Indonesia — 0.4%
Adaro Energy Tbk PT
 241,200 32,721
Bukit Asam Tbk PT
 63,000 17,229
Bumi Resources Tbk PT(a)
 853,500 16,216
Delta Dunia Makmur Tbk PT(a)
 81,000 5,101
Harum Energy Tbk PT(a)
 14,400 3,348
Indika Energy Tbk PT
 25,200 6,783
Indo Tambangraya Megah Tbk PT
 5,400 10,036
Medco Energi Internasional Tbk PT(a)
 134,266 10,823
Sugih Energy Tbk PT(a)
 618,000 2,224
United Tractors Tbk PT
 27,000 68,107
    172,588
Isreal — 0.1%
Jerusalem Oil Exploration(a)
 198 10,447
Naphtha Israel Petroleum Corp. Ltd.
 1,099 7,080
Oil Refineries Ltd.
 33,102 14,561
Paz Oil Co. Ltd.
 162 22,664
    54,752
Italy — 1.8%
Eni SpA
 41,058 742,389
Saras SpA
 8,136 18,216
    760,605
Japan — 1.6%
Idemitsu Kosan Co. Ltd.
 1,800 60,555
Inpex Corp.
 16,200 181,019
 
 
  
120

iShares® MSCI Global Energy Producers ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Japan (continued)
Japan Petroleum Exploration Co. Ltd.
     100 $      2,554
JXTG Holdings Inc.
  54,000     349,364
Showa Shell Sekiyu KK
   3,600     47,980
    641,472
Malaysia — 0.0%
Hengyuan Refining Co. Bhd
   1,800       2,958
Petron Malaysia Refining & Marketing Bhd
   1,800      3,663
    6,621
New Zealand — 0.0%
New Zealand Refining Co. Ltd. (The)
 6,660 11,542
Norway — 1.4%
Aker BP ASA
 1,746 63,801
DNO ASA(a)
 10,260 19,943
Equinor ASA
 18,126 476,933
    560,677
Pakistan — 0.1%
Oil & Gas Development Co. Ltd.
 14,400 20,237
Pakistan Oilfields Ltd.
 1,876 11,016
    31,253
Philippines — 0.0%
Petron Corp.
 68,400 11,523
Poland — 0.3%
Grupa Lotos SA
 1,566 23,102
Lubelski Wegiel Bogdanka SA
 134 1,956
Polski Koncern Naftowy ORLEN SA
 4,914 108,248
    133,306
Portugal — 0.4%
Galp Energia SGPS SA
 7,866 145,948
Russia — 2.6%
LUKOIL PJSC
 5,580 376,819
LUKOIL PJSC, ADR, NVS
 1,359 90,700
Novatek PJSC, GDR, NVS(d)
 1,458 210,098
Rosneft Oil Co. PJSC
 9,280 57,368
Rosneft Oil Co. PJSC, GDR, NVS(d)
 8,020 48,922
Surgutneftegas OJSC
 61,200 28,112
Surgutneftegas OJSC, ADR, NVS
 4,760 21,182
Tatneft PJSC
 24,300 259,852
    1,093,053
South Africa — 0.1%
Exxaro Resources Ltd.
 4,374 43,291
South Korea — 0.7%
SK Innovation Co. Ltd.
 1,062 202,952
S-Oil Corp.
 756 75,393
    278,345
Spain — 1.0%
Repsol SA
 21,276 404,942
Sweden — 0.2%
Lundin Petroleum AB
 2,988 94,596
Thailand — 0.6%
Bangchak Corp. PCL, NVDR(b)
 9,000 10,199
Banpu PCL, NVDR(b)
 37,800 24,814
Esso Thailand PCL, NVDR
 19,800 9,098
IRPC PCL, NVDR
 176,400 36,394
PTT Exploration & Production PCL, NVDR
 23,431 98,514
 Security Shares Value
Thailand (continued)
Thai Oil PCL, NVDR
  18,000 $     51,766
    230,785
Turkey — 0.1%
Tupras Turkiye Petrol Rafinerileri AS
   2,070     48,403
United Kingdom — 17.4%
BP PLC
 315,216   2,417,247
Cairn Energy PLC(a)
   9,162      28,138
EnQuest PLC(a)
  16,164       7,550
Faroe Petroleum PLC(a)
 6,372 12,854
Hurricane Energy PLC(a)
 21,366 12,839
Nostrum Oil & Gas PLC(a)(b)
 1,206 3,402
Ophir Energy PLC(a)
 13,716 10,275
Premier Oil PLC(a)(b)
 12,330 19,672
Royal Dutch Shell PLC, Class A
 71,982 2,497,060
Royal Dutch Shell PLC, Class B
 60,066 2,139,642
Soco International PLC
 3,924 5,608
Sound Energy PLC(a)(b)
 9,288 4,607
Stobart Group Ltd.
 4,806 14,133
Tullow Oil PLC(a)(b)
 22,806 76,626
    7,249,653
United States — 48.5%
Alta Mesa Resources Inc.(a)
 1,170 7,862
Anadarko Petroleum Corp.
 8,496 593,021
Andeavor
 2,322 335,366
Antero Resources Corp.(a)
 3,636 69,484
Apache Corp.
 6,120 244,800
Arch Coal Inc., Class A
 306 25,141
Bonanza Creek Energy Inc.(a)
 252 9,269
Cabot Oil & Gas Corp.
 7,398 169,044
California Resources Corp.(a)
 630 23,146
Callon Petroleum Co.(a)
 3,294 39,001
Carrizo Oil & Gas Inc.(a)
 1,314 33,192
Centennial Resource Development Inc./DE, Class A(a)(b)
 2,088 36,749
Chesapeake Energy Corp.(a)
 14,634 65,414
Chevron Corp.
 30,258 3,761,069
Cimarex Energy Co.
 1,548 143,840
CNX Resources Corp.(a)
 2,898 46,832
Concho Resources Inc.(a)(b)
 2,340 321,305
ConocoPhillips
 18,684 1,259,115
CONSOL Energy Inc.(a)(b)
 324 14,275
Continental Resources Inc./OK(a)(b)
 1,476 99,394
CVR Energy Inc.
 252 9,508
Delek U.S. Holdings Inc.
 1,224 68,275
Denbury Resources Inc.(a)
 6,552 27,846
Devon Energy Corp.
 8,334 346,444
Diamondback Energy Inc.
 1,530 184,763
Eclipse Resources Corp.(a)
 1,134 1,837
Energen Corp.(a)
 1,404 95,247
EOG Resources Inc.
 9,216 1,085,737
EQT Corp.
 4,212 217,086
Extraction Oil & Gas Inc.(a)(b)
 1,602 27,170
Exxon Mobil Corp.
 67,284 5,466,152
Gran Tierra Energy Inc.(a)(b)
 5,814 19,012
Gulfport Energy Corp.(a)(b)
 2,736 30,397
Halcon Resources Corp.(a)
 1,998 9,670
Hess Corp.
 4,482 270,802
HighPoint Resources Corp.(a)
 1,440 10,282
HollyFrontier Corp.
 2,610 201,440
Jagged Peak Energy Inc.(a)(b)
 864 10,411
 
 
121
  

iShares® MSCI Global Energy Producers ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United States (continued)
Kosmos Energy Ltd.(a)
   3,600 $     27,972
Laredo Petroleum Inc.(a)
   2,556      23,720
Marathon Oil Corp.
  13,428     287,762
Marathon Petroleum Corp.
   7,524     594,622
Matador Resources Co.(a)
   1,476      41,431
Midstates Petroleum Co. Inc.(a)
     198       2,610
Murphy Oil Corp.
   2,736      84,132
Newfield Exploration Co.(a)
   3,294      96,317
Noble Energy Inc.
 7,704 275,033
Oasis Petroleum Inc.(a)
 4,392 57,228
Occidental Petroleum Corp.
 12,222 1,029,092
Par Pacific Holdings Inc.(a)
 306 5,450
Parsley Energy Inc., Class A(a)
 3,744 110,373
PBF Energy Inc., Class A
 1,674 78,979
PDC Energy Inc.(a)
 1,044 63,152
Peabody Energy Corp.
 1,332 57,636
Penn Virginia Corp.(a)
 162 11,172
Pioneer Natural Resources Co.
 2,718 524,846
QEP Resources Inc.(a)
 3,726 45,047
Range Resources Corp.
 3,942 62,441
Resolute Energy Corp.(a)
 270 9,628
Ring Energy Inc.(a)(b)
 864 11,932
RSP Permian Inc.(a)(b)
 2,250 98,415
SandRidge Energy Inc.(a)
 504 7,328
SM Energy Co.
 1,674 43,859
Southwestern Energy Co.(a)
 9,432 44,613
SRC Energy Inc.(a)
 3,492 45,186
Talos Energy Inc.(a)
 288 9,251
Tellurian Inc.(a)(b)
 1,224 13,697
Valero Energy Corp.
 6,858 831,190
W&T Offshore Inc.(a)
 1,458 9,987
Whiting Petroleum Corp.(a)
 1,416 74,227
WildHorse Resource Development Corp.(a)
 306 8,219
WPX Energy Inc.(a)
 6,426 117,017
    20,182,962
Total Common Stocks — 98.6%

(Cost: $37,948,491)
 40,976,962
 Security Shares Value
Preferred Stocks
Brazil — 0.8%
Petroleo Brasileiro SA, Preference Shares, NVS
  61,200 $    311,912
Russia — 0.1%
Surgutneftegas OJSC, Preference Shares, NVS
 124,200     60,738
Total Preferred Stocks — 0.9%

(Cost: $270,942)
 372,650
Short-Term Investments
Money Market Funds — 1.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(e)(f)(g)
 762,881     763,033
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(e)(f)
 34,093 34,093
    797,126
Total Short-Term Investments — 1.9%

(Cost: $796,995)
 797,126
Total Investments in Securities — 101.4%

(Cost: $39,016,428)
 42,146,738
Other Assets, Less Liabilities — (1.4)%
 (561,780)
Net Assets — 100.0%
 $ 41,584,958
    
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(c) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(d) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(e) Affiliate of the Fund.
(f) Annualized 7-day yield as of period-end.
(g) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 656,714 106,167 762,881 $763,033   $ 6,352(a)   $ (105)   $ 37
BlackRock Cash Funds: Treasury, SL Agency Shares
 25,717 8,376 34,093 34,093   328   —   —
        $797,126   $ 6,680   $ (105)   $ 37
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
  
122

iShares® MSCI Global Energy Producers ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $40,976,962   $        —   $        —   $40,976,962
Preferred Stocks
    372,650           —           —       372,650
Money Market Funds
    797,126           —           —      797,126
  $42,146,738   $        —   $        —   $42,146,738
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
GDR
 Global Depositary Receipt
NVDR
 Non-Voting Depositary Receipt
NVS
 Non-Voting Shares
123
  

iShares® MSCI Global Gold Miners ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Australia — 12.1%
Newcrest Mining Ltd.
  1,845,643 $  28,991,460
Resolute Mining Ltd.
  2,581,006    2,421,618
St. Barbara Ltd.
  1,840,815    6,657,836
Westgold Resources Ltd.(a)(b)
  1,769,643   2,262,911
    40,333,825
Canada — 52.7%
Agnico Eagle Mines Ltd.
    345,727   15,508,676
Alacer Gold Corp.(a)
 1,608,534 2,951,211
Alamos Gold Inc., Class A
 1,353,182 7,479,429
Barrick Gold Corp.
 2,873,113 37,807,616
Centerra Gold Inc.(a)
 864,981 4,540,950
China Gold International Resources Corp. Ltd.(a)
 1,483,724 2,928,102
Detour Gold Corp.(a)
 389,290 3,076,027
Eldorado Gold Corp.(a)
 2,689,441 3,047,701
Endeavour Mining Corp.(a)(b)
 226,270 3,922,920
Goldcorp Inc.
 2,076,084 29,656,057
Guyana Goldfields Inc.(a)(b)
 611,161 2,303,868
IAMGOLD Corp.(a)
 1,509,739 9,427,140
Kinross Gold Corp.(a)
 3,568,554 12,874,524
Kirkland Lake Gold Ltd.
 590,069 10,844,315
New Gold Inc.(a)(b)
 2,134,423 4,952,677
Premier Gold Mines Ltd.(a)
 538,303 1,120,427
SEMAFO Inc.(a)
 1,436,348 3,908,656
SSR Mining Inc.(a)
 379,514 3,882,324
Tahoe Resources Inc.(b)
 936,004 4,899,373
Torex Gold Resources Inc.(a)
 166,712 1,627,023
Yamana Gold Inc.
 3,109,573 9,037,226
    175,796,242
Peru — 2.7%
Cia. de Minas Buenaventura SAA, ADR, NVS
 578,713 8,952,690
South Africa — 7.9%
AngloGold Ashanti Ltd.
 1,176,359 10,029,471
Gold Fields Ltd.
 2,646,742 9,441,753
Harmony Gold Mining Co. Ltd.
 1,806,473 3,016,731
Sibanye Gold Ltd.(a)
 6,213,819 3,871,065
    26,359,020
 Security Shares Value
Turkey — 0.9%
Koza Altin Isletmeleri AS(a)
    281,526 $   2,964,509
United Kingdom — 6.8%
Acacia Mining PLC(a)
    438,509      753,301
Centamin PLC
  3,739,166    6,410,963
Randgold Resources Ltd.
    193,905  15,398,624
    22,562,888
United States — 16.7%
McEwen Mining Inc.(b)
  1,437,286    3,233,893
Newmont Mining Corp.
 1,344,592 52,344,967
    55,578,860
Total Common Stocks — 99.8%

(Cost: $367,376,377)
 332,548,034
Short-Term Investments
Money Market Funds — 3.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(c)(d)(e)
 10,459,377 10,461,469
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(c)(d)
 255,797 255,797
    10,717,266
Total Short-Term Investments — 3.2%

(Cost: $10,715,950)
 10,717,266
Total Investments in Securities — 103.0%

(Cost: $378,092,327)
 343,265,300
Other Assets, Less Liabilities — (3.0)%
 (10,070,361)
Net Assets — 100.0%
 $ 333,194,939
    
(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 cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 5,122,703 5,336,674 10,459,377 $10,461,469   $41,633 (a)   $ (1,683)   $ 479
BlackRock Cash Funds: Treasury, SL Agency Shares
 27,472 228,325 255,797 255,797   1,544   —   —
        $10,717,266   $43,177   $ (1,683)   $ 479
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
  
124

iShares® MSCI Global Gold Miners ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $332,548,034   $         —   $         —   $332,548,034
Money Market Funds
  10,717,266            —            —    10,717,266
  $343,265,300   $         —   $         —   $343,265,300
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
NVS
 Non-Voting Shares
125
  

iShares® MSCI Global Metals & Mining Producers ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Australia — 18.5%
Altura Mining Ltd.(a)
    742,045 $     207,743
Alumina Ltd.
  1,836,680    3,724,460
Ausdrill Ltd.
    262,800      503,085
BHP Billiton Ltd.
  2,382,720   59,116,603
BlueScope Steel Ltd.
    412,450    5,423,956
Fortescue Metals Group Ltd.
  1,066,895    3,786,078
Galaxy Resources Ltd.(a)(b)
    285,615      754,226
Iluka Resources Ltd.
 320,470 2,715,817
Independence Group NL(b)
 375,220 1,374,125
Jacana Minerals Ltd.(a)(b)(c)
 6,808 —
Kidman Resources Ltd.(a)
 235,425 400,802
Lynas Corp. Ltd.(a)
 442,015 809,371
Mineral Resources Ltd.
 120,450 1,684,239
Orocobre Ltd.(a)(b)
 162,425 696,837
OZ Minerals Ltd.
 228,125 1,698,490
Pilbara Minerals Ltd.(a)(b)
 1,069,450 744,463
Rio Tinto Ltd.
 306,235 19,225,204
Sandfire Resources NL
 127,385 837,593
Sims Metal Management Ltd.
 124,465 1,502,114
South32 Ltd.
 3,845,275 10,823,442
Syrah Resources Ltd.(a)(b)
 225,570 537,634
Western Areas Ltd.
 215,350 550,753
    117,117,035
Austria — 0.7%
Voestalpine AG
 83,585 4,484,260
Belgium — 0.2%
Bekaert SA
 26,645 995,287
Nyrstar NV(a)(b)
 65,700 379,930
    1,375,217
Bermuda — 0.0%
Petra Diamonds Ltd.(a)(b)
 376,315 310,211
Brazil — 5.2%
Cia. Siderurgica Nacional SA(a)
 474,500 981,096
Vale SA
 2,336,062 31,759,729
    32,740,825
Canada — 4.8%
Altius Minerals Corp.
 33,580 365,000
Arizona Mining Inc.(a)
 143,080 455,535
First Quantum Minerals Ltd.
 511,365 8,022,108
HudBay Minerals Inc.
 195,640 1,256,307
Ivanhoe Mines Ltd., Class A(a)
 407,340 1,026,828
Labrador Iron Ore Royalty Corp.
 42,705 789,443
Lithium Americas Corp.(a)(b)
 37,960 201,037
Lucara Diamond Corp.
 217,905 344,361
Lundin Mining Corp.
 482,530 3,024,182
Major Drilling Group International Inc.(a)
 68,620 386,159
Mountain Province Diamonds Inc.(a)
 100,010 254,420
Nemaska Lithium Inc.(a)(b)
 262,070 210,109
Nevsun Resources Ltd.
 229,585 730,948
Stelco Holdings Inc.
 18,250 337,650
Stornoway Diamond Corp.(a)(b)
 354,160 132,414
Teck Resources Ltd., Class B
 380,330 10,311,599
Trevali Mining Corp.(a)
 438,365 358,208
Turquoise Hill Resources Ltd.(a)
 734,015 2,065,337
    30,271,645
 Security Shares Value
Chile — 0.1%
CAP SA
     52,925 $     550,821
China — 1.6%
Aluminum Corp. of China Ltd., Class H(a)(b)
  2,920,000    1,537,400
Angang Steel Co. Ltd., Class A
     58,269       55,127
Angang Steel Co. Ltd., Class H
    730,000      724,030
Baoshan Iron & Steel Co. Ltd., Class A
     72,999       95,958
Chiho Environmental Group Ltd.(a)(b)
    730,000      306,177
China Metal Recycling Holdings Ltd., NVS(a)(c)
    132,000           —
China Molybdenum Co. Ltd., Class H
 3,330,000 2,109,865
China Northern Rare Earth Group High-Tech Co. Ltd., Class A
 36,500 68,892
China Zhongwang Holdings Ltd.
 1,112,800 602,921
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A(a)
 474,498 126,672
Inner Mongolia Eerduosi Resourses Co. Ltd., Class B
 255,596 262,753
Jiangxi Copper Co. Ltd., Class H
 1,095,000 1,591,377
Jinchuan Group International Resources Co. Ltd.(a)
 1,095,000 201,016
Jinduicheng Molybdenum Co. Ltd., Class A(a)
 73,000 76,129
MMG Ltd.(a)
 1,466,000 1,065,278
North Mining Shares Co. Ltd.(a)
 10,950,000 177,285
Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd., Class A
 73,000 67,012
Shougang Concord International Enterprises Co. Ltd.(a)(b)
 8,842,000 253,622
Shougang Fushan Resources Group Ltd.
 1,460,000 366,668
Tiangong International Co. Ltd.
 730,000 153,554
Tongling Nonferrous Metals Group Co. Ltd., Class A(a)
 182,500 71,798
Xinjiang Xinxin Mining Industry Co. Ltd., Class H(a)
 730,000 114,467
    10,028,001
Egypt — 0.0%
Ezz Steel(a)
 168,995 243,836
Finland — 0.2%
Outokumpu OYJ
 221,555 1,395,519
France — 0.5%
APERAM SA
 36,135 1,672,030
Eramet, NVS
 6,935 1,215,093
    2,887,123
Germany — 1.9%
Aurubis AG
 29,200 2,366,873
Salzgitter AG
 28,105 1,435,632
thyssenkrupp AG
 322,295 8,491,170
    12,293,675
India — 1.0%
Hindalco Industries Ltd.
 314,640 1,091,967
Jindal Stainless Ltd.(a)
 100 126
Tata Steel Ltd., GDR(b)(d)
 658,977 5,588,125
    6,680,218
Indonesia — 0.1%
Aneka Tambang Persero Tbk PT
 6,825,538 424,907
Krakatau Steel Persero Tbk PT(a)
 2,226,553 69,224
Pelat Timah Nusantara Tbk PT(a)
 333,100 115,069
Timah Tbk PT
 2,555,067 172,851
    782,051
Japan — 7.3%
Asahi Holdings Inc.
 36,500 672,921
Daido Steel Co. Ltd.
 19,000 895,393
Dowa Holdings Co. Ltd.
 40,200 1,274,693
Hitachi Metals Ltd.
 146,000 1,609,904
JFE Holdings Inc.
 365,000 7,565,742
Kobe Steel Ltd.
 219,000 2,203,203
 
 
  
126

iShares® MSCI Global Metals & Mining Producers ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Japan (continued)
Kyoei Steel Ltd.(b)
     36,500 $     698,454
Maruichi Steel Tube Ltd.
     47,000    1,559,529
Mitsubishi Materials Corp.
     79,100    2,202,379
Mitsui Mining & Smelting Co. Ltd.
     42,600    1,870,330
Nakayama Steel Works Ltd.
     36,500      230,130
Neturen Co. Ltd.
     36,500      332,933
Nippon Denko Co. Ltd.
     73,000      219,715
Nippon Light Metal Holdings Co. Ltd.
    474,500    1,109,328
Nippon Steel & Sumitomo Metal Corp.
 547,540 11,503,153
Nisshin Steel Co. Ltd.
 36,500 535,851
OSAKA Titanium Technologies Co. Ltd.
 1,800 31,528
Sumitomo Metal Mining Co. Ltd.
 182,500 6,997,975
Toho Titanium Co. Ltd.
 36,500 388,702
Tokyo Steel Manufacturing Co. Ltd.
 109,500 891,965
Toyo Kohan Co. Ltd.
 36,500 240,545
UACJ Corp.
 36,538 833,031
Yamato Kogyo Co. Ltd.
 36,500 1,138,893
Yodogawa Steel Works Ltd.
 36,500 939,334
    45,945,631
Malaysia — 0.2%
Press Metal Aluminium Holdings Bhd
 1,022,000 1,214,588
Mexico — 1.1%
Grupo Mexico SAB de CV, Class B
 2,628,000 6,502,896
Industrias CH SAB de CV, Series B(a)
 109,500 474,881
Minera Frisco SAB de CV, Series A1(a)
 8,822 3,311
    6,981,088
Netherlands — 2.9%
AMG Advanced Metallurgical Group NV
 22,995 1,320,629
ArcelorMittal
 489,465 15,826,460
Constellium NV, Class A(a)
 91,250 1,108,688
    18,255,777
Norway — 1.0%
Norsk Hydro ASA
 1,000,830 6,279,535
Pakistan — 0.0%
International Steels Ltd.
 73,000 70,471
Peru — 0.5%
Southern Copper Corp.
 67,160 3,283,452
Philippines — 0.0%
Nickel Asia Corp.
 1,031,000 96,554
Poland — 0.6%
Boryszew SA(a)
 74,095 164,222
Jastrzebska Spolka Weglowa SA(a)
 39,055 880,591
KGHM Polska Miedz SA
 105,485 2,415,485
Stalprodukt SA
 1,095 136,144
    3,596,442
Russia — 2.8%
Alrosa PJSC
 1,943,625 2,753,553
Magnitogorsk Iron & Steel Works PJSC
 1,569,500 1,236,160
Mechel PJSC, ADR, NVS(a)
 62,780 217,219
MMC Norilsk Nickel PJSC
 47,450 8,458,818
Novolipetsk Steel PJSC
 886,950 2,321,702
Raspadskaya OAO(a)
 105,850 165,583
Severstal PJSC
 153,300 2,466,475
    17,619,510
 Security Shares Value
South Africa — 0.7%
African Rainbow Minerals Ltd.
     81,760 $     709,211
Anglo American Platinum Ltd.
     40,515    1,074,823
Impala Platinum Holdings Ltd.(a)
    497,130      795,251
Kumba Iron Ore Ltd.
     45,990    1,053,685
Northam Platinum Ltd.(a)
    268,825      743,540
Royal Bafokeng Platinum Ltd.(a)
     60,590     102,140
    4,478,650
South Korea — 4.2%
Dongkuk Steel Mill Co. Ltd.
 41,610 389,871
Hyundai Steel Co.
 59,130 3,389,985
Jenax Inc.(a)
 11,315 145,380
KISCO Corp.
 17,155 135,591
KISWIRE Ltd.(b)
 4,015 111,740
Korea Zinc Co. Ltd.
 6,570 2,471,483
Poongsan Corp.
 14,965 499,088
Poongsan Holdings Corp.
 6,570 292,555
POSCO
 58,035 18,278,104
Seah Besteel Corp.
 5,635 122,324
SeAH Steel Corp.
 2,289 190,901
Young Poong Corp.
 365 272,916
    26,299,938
Spain — 0.3%
Acerinox SA
 120,085 1,614,818
Tubacex SA(a)(b)
 79,935 271,993
    1,886,811
Sweden — 1.7%
Boliden AB
 208,415 7,335,598
Granges AB
 60,955 786,120
SSAB AB, Class A
 164,615 887,967
SSAB AB, Class B
 400,040 1,708,562
    10,718,247
Switzerland — 0.0%
Schmolz + Bickenbach AG(a)
 279,590 219,554
Taiwan — 1.6%
China Metal Products
 365,011 362,434
China Steel Corp.
 9,125,612 7,188,040
Chung Hung Steel Corp.(a)
 730,000 278,975
Feng Hsin Steel Co. Ltd.
 365,000 716,319
Gloria Material Technology Corp.
 365,000 233,291
TA Chen Stainless Pipe
 425,353 461,391
Ton Yi Industrial Corp.
 365,000 156,543
Tung Ho Steel Enterprise Corp.
 730,000 585,969
Yieh Phui Enterprise Co. Ltd.
 754,706 255,670
    10,238,632
Turkey — 0.6%
Borusan Mannesmann Boru Sanayi ve Ticaret AS(b)
 23,816 47,974
Eregli Demir ve Celik Fabrikalari TAS
 1,037,787 2,568,479
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class A(a)
 19,710 15,768
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D(a)
 613,930 644,042
Koza Anadolu Metal Madencilik Isletmeleri AS(a)
 153,665 286,167
    3,562,430
United Kingdom — 26.2%
Anglo American PLC
 783,290 18,731,954
Antofagasta PLC
 294,190 4,127,989
BHP Billiton PLC
 1,569,500 36,109,410
Central Asia Metals PLC
 131,400 500,064
 
 
127
  

iShares® MSCI Global Metals & Mining Producers ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United Kingdom (continued)
Evraz PLC
    265,355 $   1,803,608
Ferrexpo PLC
    217,175      633,453
Glencore PLC
  8,559,980   42,377,774
Hill & Smith Holdings PLC
     59,495    1,114,672
KAZ Minerals PLC(a)
    186,150    2,509,207
Rio Tinto PLC
    891,695   50,309,068
Vedanta Ltd., ADR, NVS
    452,515    6,651,971
Vedanta Resources PLC
     57,670     543,463
    165,412,633
United States — 12.1%
AK Steel Holding Corp.(a)
 231,775 1,047,623
Alcoa Corp.(a)
 138,335 6,649,763
Allegheny Technologies Inc.(a)(b)
 92,710 2,644,089
Carpenter Technology Corp.(b)
 35,040 2,100,298
Century Aluminum Co.(a)
 38,690 685,587
Cleveland-Cliffs Inc.(a)(b)
 208,050 1,760,103
Commercial Metals Co.
 86,140 2,036,350
Compass Minerals International Inc.
 25,550 1,670,970
Freeport-McMoRan Inc.
 1,019,810 17,234,789
Haynes International Inc.
 9,125 388,543
Kaiser Aluminum Corp.
 13,870 1,529,306
Materion Corp.
 16,790 915,894
Nucor Corp.
 235,060 15,088,501
Reliance Steel & Aluminum Co.
 53,655 5,020,498
Ryerson Holding Corp.(a)
 11,680 144,248
Schnitzer Steel Industries Inc., Class A
 18,980 591,227
Steel Dynamics Inc.
 176,660 8,732,304
SunCoke Energy Inc.(a)
 43,800 593,052
TimkenSteel Corp.(a)
 25,915 454,290
U.S. Steel Corp.
 130,305 4,804,345
Warrior Met Coal Inc.
 29,200 793,364
Worthington Industries Inc.
 33,945 1,627,663
    76,512,807
Total Common Stocks — 98.6%

(Cost: $568,181,555)
 623,833,187
 Security Shares Value
Preferred Stocks
Brazil — 0.9%
Bradespar SA, Preference Shares, NVS
    182,500 $   1,526,530
Gerdau SA, Preference Shares, NVS
    766,500    3,046,200
Metalurgica Gerdau SA, Preference Shares, NVS
    474,500     867,696
    5,440,426
Total Preferred Stocks — 0.9%

(Cost: $4,101,105)
 5,440,426
Short-Term Investments
Money Market Funds — 1.3%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(e)(f)(g)
 7,518,687 7,520,191
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(e)(f)
 577,766 577,766
    8,097,957
Total Short-Term Investments — 1.3%

(Cost: $8,096,759)
 8,097,957
Total Investments in Securities — 100.8%

(Cost: $580,379,419)
 637,371,570
Other Assets, Less Liabilities — (0.8)%
 (5,021,235)
Net Assets — 100.0%
 $ 632,350,335
    
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(c) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(d) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(e) Affiliate of the Fund.
(f) Annualized 7-day yield as of period-end.
(g) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 10,837,677 (3,318,990) 7,518,687 $7,520,191   $ 205,113(a)   $ (1,288)   $ (62)
BlackRock Cash Funds: Treasury, SL Agency Shares
 1,803,747 (1,225,981) 577,766 577,766   4,551   —   —
        $8,097,957   $209,664   $ (1,288)   $ (62)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
  
128

iShares® MSCI Global Metals & Mining Producers ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $623,833,187   $         —   $          0 (a)   $623,833,187
Preferred Stocks
   5,440,426            —            —      5,440,426
Money Market Funds
   8,097,957            —            —     8,097,957
  $637,371,570   $         —   $          0 (a)   $637,371,570
    
(a) Rounds to less than $1.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
GDR
 Global Depositary Receipt
NVS
 Non-Voting Shares
129
  

iShares® MSCI Global Silver Miners ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Canada — 60.3%
Alexco Resource Corp.(a)(b)
    20,093 $     26,642
Americas Silver Corp.(a)(b)
   174,210     609,708
Dalradian Resources Inc.(a)(b)
   832,674     609,806
Dundee Precious Metals Inc.(a)
   428,017   1,121,845
Endeavour Silver Corp.(a)(b)
   368,193   1,030,327
Excellon Resources Inc.(a)(b)
   366,362     401,044
First Majestic Silver Corp.(a)(b)
   376,809   2,669,500
Fortuna Silver Mines Inc.(a)
 370,691 2,048,917
GoGold Resources Inc.(a)(b)
 1,042,676 369,743
Great Panther Silver Ltd.(a)(b)
 547,288 683,477
Klondex Mines Ltd.(a)(b)
 502,576 1,224,283
Levon Resources Ltd.(a)
 1,293,514 219,375
Lundin Gold Inc.(a)
 91,236 358,698
MAG Silver Corp.(a)(b)
 164,291 1,913,689
Mandalay Resources Corp.
 1,965,923 310,680
Minco Silver Corp.(a)(b)
 573,235 313,750
Pan American Silver Corp.
 165,786 2,929,244
Seabridge Gold Inc.(a)
 73,408 821,115
Silvercorp Metals Inc.(b)
 433,059 1,265,259
SSR Mining Inc.(a)
 261,735 2,677,477
Tahoe Resources Inc.(b)
 605,452 3,169,148
Wheaton Precious Metals Corp.
 673,393 14,711,654
    39,485,381
China — 0.9%
China Silver Group Ltd.(b)
 3,184,000 612,921
Japan — 1.9%
Asahi Holdings Inc.
 65,400 1,205,727
Mexico — 6.0%
Industrias Penoles SAB de CV
 231,546 3,897,744
Peru — 6.4%
Cia. de Minas Buenaventura SAA, ADR, NVS
 271,970 4,207,376
United Kingdom — 12.9%
Fresnillo PLC
 381,798 6,749,308
 Security Shares Value
United Kingdom (continued)
Hochschild Mining PLC
   581,055 $  1,675,484
    8,424,792
United States — 11.2%
Coeur Mining Inc.(a)
   350,031   2,821,250
Golden Minerals Co.(a)(b)
   729,590     284,905
Hecla Mining Co.
   730,821   2,747,887
McEwen Mining Inc.(b)
   659,219  1,483,243
    7,337,285
Total Common Stocks — 99.6%

(Cost: $67,291,207)
 65,171,226
Short-Term Investments
Money Market Funds — 12.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(c)(d)(e)
 8,164,159 8,165,792
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(c)(d)
 37,654 37,654
    8,203,446
Total Short-Term Investments — 12.5%

(Cost: $8,201,996)
 8,203,446
Total Investments in Securities — 112.1%

(Cost: $75,493,203)
 73,374,672
Other Assets, Less Liabilities — (12.1)%
 (7,907,472)
Net Assets — 100.0%
 $ 65,467,200
    
(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 cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 7,553,574 610,585 8,164,159 $8,165,792   $126,573 (a)   $ 373   $ (267)
BlackRock Cash Funds: Treasury, SL Agency Shares
 37,449 205 37,654 37,654   332   —   —
        $8,203,446   $126,905   $ 373   $ (267)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
  
130

iShares® MSCI Global Silver Miners ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $65,171,226   $        —   $        —   $65,171,226
Money Market Funds
  8,203,446           —           —    8,203,446
  $73,374,672   $        —   $        —   $73,374,672
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
NVS
 Non-Voting Shares
131
  

iShares® MSCI Hong Kong ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Auto Components — 0.6%
Minth Group Ltd.(a)
  3,816,000 $    17,561,826
Banks — 7.9%
Bank of East Asia Ltd. (The)(a)
  6,521,010     27,059,513
BOC Hong Kong Holdings Ltd.
 19,038,500     95,748,912
Hang Seng Bank Ltd.
  3,930,400    98,358,333
    221,166,758
Capital Markets — 6.6%
Hong Kong Exchanges & Clearing Ltd.
 5,724,900 185,230,984
Diversified Telecommunication Services — 1.3%
HKT Trust & HKT Ltd.
 19,269,500 24,196,959
PCCW Ltd.
 21,681,169 12,769,644
    36,966,603
Electric Utilities — 6.2%
CK Infrastructure Holdings Ltd.
 3,365,000 25,395,741
CLP Holdings Ltd.
 8,349,200 87,705,370
HK Electric Investments & HK Electric Investments Ltd.(a)(b)
 13,104,500 12,663,209
Power Assets Holdings Ltd.
 7,067,000 49,145,522
    174,909,842
Equity Real Estate Investment Trusts (REITs) — 3.5%
Link REIT
 11,099,000 98,196,822
Food & Staples Retailing — 0.5%
Dairy Farm International Holdings Ltd.
 1,683,900 14,431,023
Food Products — 1.7%
WH Group Ltd.(b)
 45,132,000 46,316,376
Gas Utilities — 3.3%
Hong Kong & China Gas Co. Ltd.
 42,902,802 92,761,041
Hotels, Restaurants & Leisure — 10.5%
Galaxy Entertainment Group Ltd.
 12,173,000 107,155,734
Melco Resorts & Entertainment Ltd., ADR
 1,271,016 41,511,383
MGM China Holdings Ltd.
 4,934,688 14,343,286
Sands China Ltd.
 12,388,400 74,148,936
Shangri-La Asia Ltd.
 6,518,000 13,029,103
SJM Holdings Ltd.
 10,233,000 14,689,110
Wynn Macau Ltd.
 8,039,600 30,849,991
    295,727,543
Household Durables — 1.5%
Techtronic Industries Co. Ltd.
 7,094,647 42,554,406
Industrial Conglomerates — 10.0%
CK Hutchison Holdings Ltd.
 13,857,767 156,435,722
Jardine Matheson Holdings Ltd.
 1,109,400 69,270,936
Jardine Strategic Holdings Ltd.
 1,149,100 41,137,780
NWS Holdings Ltd.
 7,991,000 14,873,326
    281,717,764
Insurance — 20.1%
AIA Group Ltd.
 61,743,400 566,731,233
 Security   Shares Value
Real Estate Management & Development — 22.3%
CK Asset Holdings Ltd.
 13,302,767 $   111,080,390
Hang Lung Group Ltd.
  4,558,000     14,120,000
Hang Lung Properties Ltd.
 10,464,000     23,744,982
Henderson Land Development Co. Ltd.
  6,229,862     40,980,970
Hongkong Land Holdings Ltd.
  6,036,100     43,822,086
Hysan Development Co. Ltd.
  3,235,000     18,702,759
Kerry Properties Ltd.
  3,389,000     18,124,150
New World Development Co. Ltd.
 31,297,066     48,037,923
Sino Land Co. Ltd.
 16,644,000 28,814,533
Sun Hung Kai Properties Ltd.
 8,170,000 131,859,029
Swire Pacific Ltd., Class A
 2,530,000 26,092,948
Swire Properties Ltd.
 6,077,800 23,825,698
Wharf Holdings Ltd. (The)
 6,310,150 20,392,560
Wharf Real Estate Investment Co. Ltd.
 6,243,150 48,191,676
Wheelock & Co. Ltd.
 4,243,357 31,970,628
    629,760,332
Road & Rail — 1.5%
MTR Corp. Ltd.
 7,710,583 43,398,232
Semiconductors & Semiconductor Equipment — 0.7%
ASM Pacific Technology Ltd.
 1,581,200 20,762,428
Textiles, Apparel & Luxury Goods — 0.9%
Li & Fung Ltd.(a)
 30,448,000 11,838,937
Yue Yuen Industrial Holdings Ltd.
 3,828,500 11,835,715
    23,674,652
Total Common Stocks — 99.1%

(Cost: $2,571,155,028)
 2,791,867,865
Short-Term Investments
Money Market Funds — 1.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(c)(d)(e)
 27,052,006 27,057,416
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(c)(d)
 2,063,234 2,063,234
    29,120,650
Total Short-Term Investments — 1.0%

(Cost: $29,115,508)
 29,120,650
Total Investments in Securities — 100.1%

(Cost: $2,600,270,536)
 2,820,988,515
Other Assets, Less Liabilities — (0.1)%
 (1,899,865)
Net Assets — 100.0%
 $ 2,819,088,650
    
(a) All or a portion of this security is on loan.
(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(c) Affiliate of the Fund.
(d) Annualized 7-day yield as of period-end.
(e) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
  
132

iShares® MSCI Hong Kong ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 33,422,824 (6,370,818) 27,052,006 $27,057,416   $516,331 (a)   $ (846)   $ (602)
BlackRock Cash Funds: Treasury, SL Agency Shares
 109,004 1,954,230 2,063,234 2,063,234   31,981   —   —
        $29,120,650   $548,312   $ (846)   $ (602)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
Hang Seng Index
 138 06/28/18 $ 26,826 $ (51,779)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $2,791,867,865   $           —   $           —   $2,791,867,865
Money Market Funds
    29,120,650              —              —      29,120,650
  $2,820,988,515   $           —   $           —   $2,820,988,515
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $       (51,779)   $           —   $           —   $       (51,779)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
133
  

iShares® MSCI Israel ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 2.6%
Elbit Systems Ltd.
     22,958 $   2,754,780
Banks — 20.6%
Bank Hapoalim BM
    941,412    6,495,318
Bank Leumi Le-Israel BM
  1,286,487    8,017,776
First International Bank of Israel Ltd.
     45,815    1,010,733
Israel Discount Bank Ltd., Class A
  1,097,645    3,308,105
Mizrahi Tefahot Bank Ltd.
    137,053   2,617,413
    21,449,345
Biotechnology — 0.1%
UroGen Pharma Ltd.(a)
 1,830 110,020
Building Products — 0.4%
Caesarstone Ltd.(b)
 24,240 379,356
Chemicals — 6.8%
Frutarom Industries Ltd.
 36,861 3,606,630
Israel Chemicals Ltd.
 571,236 2,647,265
Israel Corp. Ltd. (The)
 3,814 782,710
    7,036,605
Communications Equipment — 1.6%
Ituran Location and Control Ltd.
 18,925 624,525
Radware Ltd.(a)
 43,817 1,022,251
    1,646,776
Construction & Engineering — 1.4%
Elco Holdings Ltd.
 5,402 108,831
Electra Ltd./Israel
 2,167 565,003
Shapir Engineering and Industry Ltd.
 115,360 365,463
Shikun & Binui Ltd.
 235,019 394,674
    1,433,971
Diversified Telecommunication Services — 2.5%
B Communications Ltd.(a)
 17,961 181,277
Bezeq The Israeli Telecommunication Corp. Ltd.
 2,020,804 2,470,129
    2,651,406
Electronic Equipment, Instruments & Components — 2.7%
Orbotech Ltd.(a)
 44,702 2,862,716
Equity Real Estate Investment Trusts (REITs) — 0.7%
REIT 1 Ltd.
 181,605 757,091
Food & Staples Retailing — 0.9%
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.
 7,864 391,337
Shufersal Ltd.
 82,306 545,722
    937,059
Food Products — 1.0%
Strauss Group Ltd.
 47,559 1,013,207
Health Care Equipment & Supplies — 0.8%
Mazor Robotics Ltd.(a)
 29,213 877,971
Household Durables — 1.2%
SodaStream International Ltd.(a)
 14,400 1,198,944
Independent Power and Renewable Electricity Producers — 0.3%
Kenon Holdings Ltd./Singapore
 22,556 359,186
Insurance — 2.9%
Clal Insurance Enterprises Holdings Ltd.(a)
 24,818 389,849
Harel Insurance Investments & Financial Services Ltd.
 117,890 896,016
IDI Insurance Co. Ltd.
 7,916 489,132
 Security   Shares Value
Insurance (continued)
Menora Mivtachim Holdings Ltd.
     32,443 $     383,833
Migdal Insurance & Financial Holding Ltd.(a)
    447,148      436,380
Phoenix Holdings Ltd. (The)(a)
     82,224     463,343
    3,058,553
Internet Software & Services — 2.6%
Wix.com Ltd.(a)(b)
     31,046   2,699,450
IT Services — 0.6%
Formula Systems 1985 Ltd.
      4,682      174,710
Matrix IT Ltd.
 41,652 486,946
    661,656
Machinery — 0.5%
Kornit Digital Ltd.(a)(b)
 31,339 537,464
Oil, Gas & Consumable Fuels — 3.1%
Delek Group Ltd.
 4,523 684,239
Jerusalem Oil Exploration(a)
 10,029 529,181
Naphtha Israel Petroleum Corp. Ltd.
 47,001 302,936
Oil Refineries Ltd.
 1,539,024 676,982
Paz Oil Co. Ltd.
 7,333 1,025,868
    3,219,206
Pharmaceuticals — 17.2%
Teva Pharmaceutical Industries Ltd., ADR, NVS
 833,662 17,923,733
Real Estate Management & Development — 8.1%
Africa Israel Properties Ltd.(a)
 16,809 394,213
Airport City Ltd.(a)
 83,354 984,056
Alony Hetz Properties & Investments Ltd.
 108,655 1,004,638
Amot Investments Ltd.
 136,907 710,079
Azrieli Group Ltd.
 41,819 2,037,663
Bayside Land Corp.
 895 408,997
Big Shopping Centers Ltd.
 2,576 174,844
Blue Square Real Estate Ltd.
 4,009 146,675
Brack Capital Properties NV(a)
 983 110,760
Gazit-Globe Ltd.
 102,556 989,073
Industrial Buildings Corp. Ltd.(a)
 81,701 105,364
Jerusalem Economy Ltd.(a)
 75,200 179,224
Melisron Ltd.
 18,815 802,823
Norstar Holdings Inc.
 16,585 303,532
Summit Real Estate Holdings Ltd.
 12,033 111,562
    8,463,503
Semiconductors & Semiconductor Equipment — 2.5%
Nova Measuring Instruments Ltd.(a)
 9,901 297,011
Tower Semiconductor Ltd.(a)
 85,690 2,253,436
    2,550,447
Software — 17.2%
Check Point Software Technologies Ltd.(a)(b)
 118,207 11,508,634
CyberArk Software Ltd.(a)
 23,480 1,428,758
Nice Ltd.(a)
 44,069 4,622,000
Sapiens International Corp. NV(b)
 32,728 302,515
    17,861,907
Specialty Retail — 0.3%
Delek Automotive Systems Ltd.
 48,545 304,452
Textiles, Apparel & Luxury Goods — 0.4%
Delta-Galil Industries Ltd.(b)
 11,743 380,251
Wireless Telecommunication Services — 0.9%
Cellcom Israel Ltd.(a)(b)
 64,191 449,908
 
 
  
134

iShares® MSCI Israel ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Wireless Telecommunication Services (continued)
Partner Communications Co. Ltd.(a)
    125,392 $     497,785
    947,693
Total Common Stocks — 99.9%

(Cost: $112,211,745)
 104,076,748
Short-Term Investments
Money Market Funds — 13.6%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(c)(d)(e)
 14,108,943   14,111,765
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(c)(d)
     21,548      21,548
    14,133,313
Total Short-Term Investments — 13.6%

(Cost: $14,132,054)
 14,133,313
Total Investments in Securities — 113.5%

(Cost: $126,343,799)
 118,210,061
Other Assets, Less Liabilities — (13.5)%
 (14,072,180)
Net Assets — 100.0%
 $ 104,137,881
(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 cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 15,525,641 (1,416,698) 14,108,943 $ 14,111,765   $40,227 (a)   $ (3,032)   $ 713
BlackRock Cash Funds: Treasury, SL Agency Shares
 40,997 (19,449) 21,548 21,548   356   —   —
        $14,133,313   $40,583   $ (3,032)   $ 713
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $104,076,748   $         —   $         —   $104,076,748
Money Market Funds
  14,133,313            —            —    14,133,313
  $ 118,210,061   $         —   $         —   $ 118,210,061
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
NVS
 Non-Voting Shares
135
  

iShares® MSCI Italy ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 1.6%
Leonardo SpA
    752,209 $   7,660,137
Auto Components — 0.8%
Pirelli & C SpA(a)(b)
    456,453   3,899,158
Automobiles — 9.3%
Ferrari NV(c)
    163,760   21,314,006
Fiat Chrysler Automobiles NV(b)
    985,338  22,313,585
    43,627,591
Banks — 21.6%
Intesa Sanpaolo SpA
 16,946,170 49,739,978
Mediobanca Banca di Credito Finanziario SpA
 1,051,191 9,899,879
UniCredit SpA
 2,498,993 41,229,922
    100,869,779
Beverages — 1.7%
Davide Campari-Milano SpA, NVS
 1,068,596 7,970,706
Diversified Financial Services — 2.7%
EXOR NV(c)
 175,354 12,690,822
Diversified Telecommunication Services — 2.9%
Telecom Italia SpA/Milano(b)(c)
 16,796,705 13,473,786
Electric Utilities — 14.7%
Enel SpA
 10,266,909 56,363,386
Terna Rete Elettrica Nazionale SpA
 2,297,151 12,149,712
    68,513,098
Electrical Equipment — 2.1%
Prysmian SpA
 355,538 9,877,462
Energy Equipment & Services — 2.9%
Tenaris SA
 750,915 13,454,933
Insurance — 6.3%
Assicurazioni Generali SpA
 1,241,407 21,084,319
Poste Italiane SpA(a)
 950,188 8,123,445
    29,207,764
Machinery — 3.9%
CNH Industrial NV
 1,547,149 18,095,986
Oil, Gas & Consumable Fuels — 15.6%
Eni SpA
 3,214,578 58,124,305
Snam SpA
 3,565,661 14,600,980
    72,725,285
Pharmaceuticals — 1.6%
Recordati SpA(c)
 199,002 7,363,751
 Security   Shares Value
Textiles, Apparel & Luxury Goods — 5.6%
Luxottica Group SpA
    261,476 $  16,262,168
Moncler SpA
    217,290   9,960,543
    26,222,711
Transportation Infrastructure — 4.3%
Atlantia SpA
    689,680  19,957,519
Total Common Stocks — 97.6%

(Cost: $507,704,320)
 455,610,488
Preferred Stocks
Banks — 0.8%
Intesa Sanpaolo SpA, Preference Shares, NVS
 1,245,321 3,743,182
Diversified Telecommunication Services — 1.5%
Telecom Italia SpA/Milano, Preference Shares, NVS
 9,908,196 6,927,935
Total Preferred Stocks — 2.3%

(Cost: $12,830,782)
 10,671,117
Short-Term Investments
Money Market Funds — 5.7%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 25,989,243 25,994,441
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
 430,912 430,912
    26,425,353
Total Short-Term Investments — 5.7%

(Cost: $26,422,693)
 26,425,353
Total Investments in Securities — 105.6%

(Cost: $546,957,795)
 492,706,958
Other Assets, Less Liabilities — (5.6)%
 (25,908,136)
Net Assets — 100.0%
 $ 466,798,822
    
(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b) Non-income producing security.
(c) All or a portion of this security is on loan.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
  
136

iShares® MSCI Italy ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 — 25,989,243 25,989,243 $25,994,441   $22,990 (a)   $ 2,841   $ 2,660
BlackRock Cash Funds: Treasury, SL Agency Shares
 998,621 (567,709) 430,912 430,912   3,035   —   —
        $26,425,353   $26,025   $ 2,841   $ 2,660
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
FTSE/MIB Index
 5 06/15/18 $ 635 $ (37,020)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $455,610,488   $         —   $         —   $455,610,488
Preferred Stocks
  10,671,117            —            —     10,671,117
Money Market Funds
  26,425,353            —            —    26,425,353
  $492,706,958   $         —   $         —   $492,706,958
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $     (37,020)   $         —   $         —   $     (37,020)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
137
  

iShares® MSCI Japan ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Air Freight & Logistics — 0.3%
SG Holdings Co. Ltd.
     459,400 $     10,435,816
Yamato Holdings Co. Ltd.
   1,783,200     51,274,488
    61,710,304
Airlines — 0.3%
ANA Holdings Inc.
     668,700      26,970,807
Japan Airlines Co. Ltd.
     668,700     25,961,403
    52,932,210
Auto Components — 2.8%
Aisin Seiki Co. Ltd.
 927,900 46,802,817
Bridgestone Corp.
 3,566,400 143,286,263
Denso Corp.
 2,451,900 119,384,702
Koito Manufacturing Co. Ltd.
 668,700 49,300,815
NGK Spark Plug Co. Ltd.
 891,600 24,455,502
NOK Corp.
 445,800 8,395,295
Stanley Electric Co. Ltd.
 668,700 22,865,484
Sumitomo Electric Industries Ltd.
 4,235,100 64,104,395
Sumitomo Rubber Industries Ltd.
 891,600 14,976,943
Toyoda Gosei Co. Ltd.
 445,800 11,772,288
Toyota Industries Corp.
 891,600 52,193,621
Yokohama Rubber Co. Ltd. (The)
 668,700 14,587,132
    572,125,257
Automobiles — 8.0%
Honda Motor Co. Ltd.
 9,138,900 289,951,570
Isuzu Motors Ltd.
 3,121,000 41,912,090
Mazda Motor Corp.
 3,120,600 39,350,380
Mitsubishi Motors Corp.
 3,789,300 28,739,318
Nissan Motor Co. Ltd.
 12,928,200 128,573,980
Subaru Corp.
 3,365,600 103,156,593
Suzuki Motor Corp.
 1,889,300 108,894,073
Toyota Motor Corp.
 12,837,700 817,798,534
Yamaha Motor Co. Ltd.
 1,560,300 45,238,575
    1,603,615,113
Banks — 6.6%
Aozora Bank Ltd.
 668,700 26,527,654
Bank of Kyoto Ltd. (The)
 339,800 17,827,420
Chiba Bank Ltd. (The)
 3,519,500 27,211,376
Concordia Financial Group Ltd.
 6,241,200 35,214,281
Fukuoka Financial Group Inc.
 4,458,000 23,881,044
Japan Post Bank Co. Ltd.
 2,229,000 27,922,767
Mebuki Financial Group Inc.
 4,903,880 17,874,145
Mitsubishi UFJ Financial Group Inc.
 66,201,380 399,602,973
Mizuho Financial Group Inc.
 133,740,080 233,517,356
Resona Holdings Inc.
 11,813,700 65,992,310
Seven Bank Ltd.
 3,343,500 10,586,442
Shinsei Bank Ltd.
 891,600 14,115,256
Shizuoka Bank Ltd. (The)
 2,570,700 24,868,201
Sumitomo Mitsui Financial Group Inc.
 7,585,400 314,391,423
Sumitomo Mitsui Trust Holdings Inc.
 1,807,032 75,544,566
Suruga Bank Ltd.
 891,600 10,307,420
Yamaguchi Financial Group Inc.
 922,000 11,142,584
    1,336,527,218
Beverages — 1.5%
Asahi Group Holdings Ltd.
 2,006,100 105,175,071
Coca-Cola Bottlers Japan Holdings Inc.
 668,700 28,220,254
Kirin Holdings Co. Ltd.
 4,680,900 133,346,086
Suntory Beverage & Food Ltd.
 739,200 32,930,443
    299,671,854
 Security   Shares Value
Building Products — 1.4%
Asahi Glass Co. Ltd.
   1,120,200 $     45,985,476
Daikin Industries Ltd.
   1,348,700     156,165,916
LIXIL Group Corp.
   1,560,300      34,553,654
TOTO Ltd.
     774,800     40,649,455
    277,354,501
Capital Markets — 1.2%
Daiwa Securities Group Inc.
   8,916,000      51,840,740
Japan Exchange Group Inc.
   2,897,700      55,182,855
Nomura Holdings Inc.
 19,615,200 101,844,856
SBI Holdings Inc./Japan
 1,344,210 36,795,808
    245,664,259
Chemicals — 4.4%
Air Water Inc.
 891,600 17,381,461
Asahi Kasei Corp.
 6,909,900 95,114,874
Daicel Corp.
 1,560,300 17,693,309
Hitachi Chemical Co. Ltd.
 668,700 14,439,415
JSR Corp.
 1,114,500 21,788,375
Kaneka Corp.
 1,370,000 14,123,061
Kansai Paint Co. Ltd.
 1,114,500 23,963,109
Kuraray Co. Ltd.
 1,783,200 27,377,032
Mitsubishi Chemical Holdings Corp.
 7,355,700 68,245,622
Mitsubishi Gas Chemical Co. Inc.
 920,100 23,551,918
Mitsui Chemicals Inc.
 956,600 27,735,193
Nippon Paint Holdings Co. Ltd.(a)
 891,600 37,380,809
Nissan Chemical Industries Ltd.
 668,700 31,513,130
Nitto Denko Corp.
 901,200 70,996,095
Shin-Etsu Chemical Co. Ltd.
 2,072,500 207,736,435
Sumitomo Chemical Co. Ltd.
 8,916,000 54,081,126
Taiyo Nippon Sanso Corp.
 668,700 9,934,022
Teijin Ltd.
 1,114,500 21,665,277
Toray Industries Inc.
 7,801,500 63,973,090
Tosoh Corp.
 1,596,900 28,073,809
    876,767,162
Commercial Services & Supplies — 0.9%
Dai Nippon Printing Co. Ltd.
 1,439,700 31,034,814
Park24 Co. Ltd.
 668,700 18,083,120
Secom Co. Ltd.
 1,122,300 83,869,057
Sohgo Security Services Co. Ltd.
 445,800 20,454,812
Toppan Printing Co. Ltd.
 2,874,000 23,490,377
    176,932,180
Construction & Engineering — 0.9%
JGC Corp.
 1,114,500 23,316,844
Kajima Corp.
 4,764,000 38,938,120
Obayashi Corp.
 3,566,400 36,075,968
Shimizu Corp.
 3,120,600 30,589,894
Taisei Corp.
 1,114,500 61,446,500
    190,367,326
Construction Materials — 0.1%
Taiheiyo Cement Corp.
 668,700 24,804,280
Consumer Finance — 0.2%
Acom Co. Ltd.
 2,229,000 9,375,977
AEON Financial Service Co. Ltd.
 668,770 15,635,103
Credit Saison Co. Ltd.
 891,600 14,829,226
    39,840,306
Containers & Packaging — 0.1%
Toyo Seikan Group Holdings Ltd.
 891,600 14,993,356
 
 
  
138

iShares® MSCI Japan ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Diversified Consumer Services — 0.1%
Benesse Holdings Inc.
     445,800 $     16,248,958
Diversified Financial Services — 0.8%
Mitsubishi UFJ Lease & Finance Co. Ltd.
   2,451,900      14,691,766
ORIX Corp.
   7,355,700     123,661,338
Tokyo Century Corp.
     229,700     13,848,175
    152,201,279
Diversified Telecommunication Services — 0.9%
Nippon Telegraph & Telephone Corp.
   3,812,900    179,195,245
Electric Utilities — 1.1%
Chubu Electric Power Co. Inc.
 3,566,400 55,328,521
Chugoku Electric Power Co. Inc. (The)
 1,560,300 20,436,347
Kansai Electric Power Co. Inc. (The)
 4,012,200 57,831,517
Kyushu Electric Power Co. Inc.
 2,229,000 26,384,040
Tohoku Electric Power Co. Inc.
 2,451,900 31,346,947
Tokyo Electric Power Co. Holdings Inc.(b)
 7,801,500 37,124,355
    228,451,727
Electrical Equipment — 1.8%
Fuji Electric Co. Ltd.
 2,696,000 19,281,071
Mabuchi Motor Co. Ltd.
 246,100 11,439,137
Mitsubishi Electric Corp.
 10,253,400 145,809,775
Nidec Corp.
 1,258,200 195,542,427
    372,072,410
Electronic Equipment, Instruments & Components — 5.7%
Alps Electric Co. Ltd.
 1,115,200 26,523,787
Hamamatsu Photonics KK
 891,600 38,775,922
Hirose Electric Co. Ltd.
 222,958 29,079,248
Hitachi High-Technologies Corp.
 445,800 20,372,746
Hitachi Ltd.
 26,748,000 196,119,995
Keyence Corp.
 539,852 332,075,191
Kyocera Corp.
 1,783,200 105,962,899
Murata Manufacturing Co. Ltd.
 1,036,900 154,468,466
Nippon Electric Glass Co. Ltd.
 445,900 12,115,576
Omron Corp.
 1,114,500 58,779,373
Shimadzu Corp.
 1,338,100 37,010,359
TDK Corp.
 687,500 61,887,340
Yaskawa Electric Corp.
 1,337,400 54,163,192
Yokogawa Electric Corp.
 1,337,400 24,484,225
    1,151,818,319
Equity Real Estate Investment Trusts (REITs) — 1.1%
Daiwa House REIT Investment Corp.
 8,916 21,057,993
Japan Prime Realty Investment Corp.
 4,458 16,228,441
Japan Real Estate Investment Corp.
 6,687 35,144,526
Japan Retail Fund Investment Corp.
 15,671 28,473,058
Nippon Building Fund Inc.
 7,094 39,830,089
Nippon Prologis REIT Inc.
 11,145 23,286,069
Nomura Real Estate Master Fund Inc.
 22,358 31,362,319
United Urban Investment Corp.
 17,832 27,377,032
    222,759,527
Food & Staples Retailing — 1.9%
Aeon Co. Ltd.
 3,566,400 70,871,716
FamilyMart UNY Holdings Co. Ltd.(a)
 445,800 46,366,975
Lawson Inc.
 266,900 17,417,470
Seven & i Holdings Co. Ltd.
 4,235,180 187,931,361
Sundrug Co. Ltd.
 445,800 20,311,197
Tsuruha Holdings Inc.
 222,900 33,215,988
    376,114,707
 Security   Shares Value
Food Products — 1.5%
Ajinomoto Co. Inc.
   2,674,800 $     51,196,526
Calbee Inc.(a)
     447,600      16,355,764
Kikkoman Corp.
     891,600      42,181,638
MEIJI Holdings Co. Ltd.
     668,756      57,060,777
NH Foods Ltd.
     544,700      22,435,754
Nisshin Seifun Group Inc.
   1,114,575      23,595,403
Nissin Foods Holdings Co. Ltd.
     305,200      22,754,107
Toyo Suisan Kaisha Ltd.
     445,800      15,941,212
Yakult Honsha Co. Ltd.
 668,700 44,069,143
Yamazaki Baking Co. Ltd.
 668,700 14,525,583
    310,115,907
Gas Utilities — 0.6%
Osaka Gas Co. Ltd.
 2,027,200 44,305,641
Toho Gas Co. Ltd.
 445,800 14,094,740
Tokyo Gas Co. Ltd.
 2,229,000 60,831,009
    119,231,390
Health Care Equipment & Supplies — 1.9%
CYBERDYNE Inc.(a)(b)
 445,800 5,732,271
Hoya Corp.
 2,229,000 132,802,403
Olympus Corp.
 1,566,600 55,659,036
Sysmex Corp.
 891,600 80,506,199
Terumo Corp.
 1,783,200 106,028,552
    380,728,461
Health Care Providers & Services — 0.3%
Alfresa Holdings Corp.
 1,114,500 28,240,770
Medipal Holdings Corp.
 891,600 20,606,633
Suzuken Co. Ltd./Aichi Japan
 445,840 20,025,765
    68,873,168
Health Care Technology — 0.2%
M3 Inc.
 1,114,500 46,726,011
Hotels, Restaurants & Leisure — 0.7%
McDonald's Holdings Co. Japan Ltd.
 445,800 22,485,931
Oriental Land Co. Ltd./Japan
 1,114,500 114,378,711
    136,864,642
Household Durables — 3.5%
Casio Computer Co. Ltd.
 1,114,900 17,086,000
Iida Group Holdings Co. Ltd.
 891,680 17,062,936
Nikon Corp.
 1,783,200 28,969,101
Panasonic Corp.
 12,266,315 168,168,588
Rinnai Corp.
 222,900 21,337,015
Sekisui Chemical Co. Ltd.
 2,229,000 36,683,253
Sekisui House Ltd.
 3,343,500 59,764,159
Sharp Corp./Japan(a)
 891,600 23,766,152
Sony Corp.
 7,188,400 341,406,820
    714,244,024
Household Products — 0.5%
Lion Corp.
 1,337,400 24,533,464
Unicharm Corp.
 2,229,000 69,365,815
    93,899,279
Independent Power and Renewable Electricity Producers — 0.1%
Electric Power Development Co. Ltd.
 891,600 23,725,119
Industrial Conglomerates — 0.7%
Keihan Holdings Co. Ltd.
 445,800 15,120,558
Seibu Holdings Inc.
 1,337,400 22,046,881
Toshiba Corp.(b)
 35,993,000 101,374,734
    138,542,173
 
 
139
  

iShares® MSCI Japan ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Insurance — 3.2%
Dai-ichi Life Holdings Inc.
   6,019,400 $    112,498,428
Japan Post Holdings Co. Ltd.
   8,922,800     102,413,656
MS&AD Insurance Group Holdings Inc.
   2,674,840      85,283,683
Sompo Holdings Inc.
   2,006,150      87,377,254
Sony Financial Holdings Inc.
     891,600      16,421,295
T&D Holdings Inc.
   3,120,600      49,317,228
Tokio Marine Holdings Inc.
   3,789,300    182,759,740
    636,071,284
Internet & Direct Marketing Retail — 0.4%
Rakuten Inc.
 4,903,800 33,021,493
Start Today Co. Ltd.
 1,115,200 38,851,599
    71,873,092
Internet Software & Services — 0.3%
DeNA Co. Ltd.
 668,700 12,888,378
Kakaku.com Inc.
 891,600 19,441,303
Yahoo Japan Corp.(a)
 7,801,500 28,435,676
    60,765,357
IT Services — 1.0%
Fujitsu Ltd.
 11,145,000 68,391,288
Nomura Research Institute Ltd.
 668,704 33,729,099
NTT Data Corp.
 3,343,500 37,452,616
Obic Co. Ltd.
 445,800 38,652,823
Otsuka Corp.
 493,800 20,430,126
    198,655,952
Leisure Products — 0.9%
Bandai Namco Holdings Inc.
 1,114,598 47,499,551
Sankyo Co. Ltd.
 222,900 8,852,810
Sega Sammy Holdings Inc.
 891,600 15,789,391
Shimano Inc.
 445,800 63,149,358
Yamaha Corp.
 891,600 46,613,171
    181,904,281
Machinery — 5.8%
Amada Holdings Co. Ltd.
 1,783,200 19,433,097
Daifuku Co. Ltd.(a)
 545,800 28,383,911
FANUC Corp.
 1,121,300 240,164,306
Hino Motors Ltd.
 1,337,400 15,030,286
Hitachi Construction Machinery Co. Ltd.
 668,700 24,742,731
Hoshizaki Corp.
 277,400 27,907,239
IHI Corp.
 891,600 33,605,799
JTEKT Corp.
 1,114,500 16,279,732
Kawasaki Heavy Industries Ltd.
 891,600 27,122,629
Komatsu Ltd.
 5,126,700 169,262,027
Kubota Corp.
 5,572,500 94,016,222
Kurita Water Industries Ltd.
 445,800 12,843,242
Makita Corp.
 1,337,400 59,825,707
MINEBEA MITSUMI Inc.
 2,229,000 42,427,834
MISUMI Group Inc.
 1,560,300 45,238,575
Mitsubishi Heavy Industries Ltd.
 1,783,200 67,621,925
Nabtesco Corp.
 668,700 21,911,473
NGK Insulators Ltd.
 1,337,400 24,459,605
NSK Ltd.
 2,006,100 22,877,794
SMC Corp./Japan
 310,400 118,365,981
Sumitomo Heavy Industries Ltd.
 668,700 23,696,396
THK Co. Ltd.
 669,300 23,840,867
    1,159,057,378
Marine — 0.2%
Mitsui OSK Lines Ltd.
 668,700 17,713,826
 Security   Shares Value
Marine (continued)
Nippon Yusen KK
     891,600 $     18,210,321
    35,924,147
Media — 0.6%
CyberAgent Inc.
     552,600      28,940,991
Dentsu Inc.
   1,171,400      56,065,903
Hakuhodo DY Holdings Inc.
   1,338,100      20,346,461
Toho Co. Ltd./Tokyo
     668,700     23,265,553
    128,618,908
Metals & Mining — 1.3%
Hitachi Metals Ltd.
 1,114,500 12,289,300
JFE Holdings Inc.
 2,674,850 55,444,450
Kobe Steel Ltd.
 1,788,800 17,995,843
Maruichi Steel Tube Ltd.
 269,800 8,952,359
Mitsubishi Materials Corp.
 668,700 18,618,597
Nippon Steel & Sumitomo Metal Corp.
 4,235,570 88,984,201
Sumitomo Metal Mining Co. Ltd.
 1,337,400 51,282,695
    253,567,445
Multiline Retail — 0.8%
Don Quijote Holdings Co. Ltd.
 668,700 35,698,467
Isetan Mitsukoshi Holdings Ltd.(a)
 1,783,260 22,059,933
J Front Retailing Co. Ltd.
 1,337,400 21,111,335
Marui Group Co. Ltd.
 1,114,500 22,680,837
Ryohin Keikaku Co. Ltd.
 123,100 41,922,776
Takashimaya Co. Ltd.
 1,522,000 12,734,116
    156,207,464
Oil, Gas & Consumable Fuels — 1.1%
Idemitsu Kosan Co. Ltd.
 668,700 22,496,190
Inpex Corp.
 5,809,000 64,909,807
JXTG Holdings Inc.
 18,318,695 118,516,367
Showa Shell Sekiyu KK
 1,114,500 14,853,845
    220,776,209
Paper & Forest Products — 0.1%
Oji Holdings Corp.
 4,458,000 29,338,396
Personal Products — 2.2%
Kao Corp.
 2,715,100 210,970,355
Kobayashi Pharmaceutical Co. Ltd.
 229,700 20,317,704
Kose Corp.
 145,400 31,677,647
Pola Orbis Holdings Inc.
 465,200 23,079,093
Shiseido Co. Ltd.
 2,070,700 164,405,709
    450,450,508
Pharmaceuticals — 5.1%
Astellas Pharma Inc.
 11,632,450 178,215,408
Chugai Pharmaceutical Co. Ltd.
 1,337,400 75,705,371
Daiichi Sankyo Co. Ltd.
 3,121,069 100,401,640
Eisai Co. Ltd.
 1,411,100 102,307,835
Hisamitsu Pharmaceutical Co. Inc.
 283,500 23,641,309
Kyowa Hakko Kirin Co. Ltd.
 1,337,400 27,426,271
Mitsubishi Tanabe Pharma Corp.
 1,337,400 24,004,142
Ono Pharmaceutical Co. Ltd.
 2,237,900 55,605,054
Otsuka Holdings Co. Ltd.
 2,229,000 111,178,158
Santen Pharmaceutical Co. Ltd.
 2,006,100 35,027,582
Shionogi & Co. Ltd.
 1,602,100 84,259,739
Sumitomo Dainippon Pharma Co. Ltd.
 891,600 18,571,410
Taisho Pharmaceutical Holdings Co. Ltd.
 229,700 24,461,586
Takeda Pharmaceutical Co. Ltd.
 4,012,200 164,409,907
    1,025,215,412
 
 
  
140

iShares® MSCI Japan ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Professional Services — 1.0%
Persol Holdings Co. Ltd.
     891,600 $     19,145,868
Recruit Holdings Co. Ltd.
   6,248,000    174,250,448
    193,396,316
Real Estate Management & Development — 3.0%
Aeon Mall Co. Ltd.
     668,700      12,943,772
Daito Trust Construction Co. Ltd.
     452,600      74,027,355
Daiwa House Industry Co. Ltd.
   3,120,600     113,369,305
Hulic Co. Ltd.
   1,560,300      16,041,742
Mitsubishi Estate Co. Ltd.
 6,687,000 121,620,986
Mitsui Fudosan Co. Ltd.(a)
 4,903,800 123,446,942
Nomura Real Estate Holdings Inc.
 668,700 15,713,481
Sumitomo Realty & Development Co. Ltd.
 2,229,000 84,383,791
Tokyo Tatemono Co. Ltd.
 1,114,500 15,469,336
Tokyu Fudosan Holdings Corp.
 2,674,800 19,794,185
    596,810,895
Road & Rail — 3.9%
Central Japan Railway Co.
 784,000 162,435,823
East Japan Railway Co.
 1,783,200 176,522,767
Hankyu Hanshin Holdings Inc.
 1,337,400 55,271,076
Keikyu Corp.
 1,337,400 22,563,893
Keio Corp.
 668,700 31,143,835
Keisei Electric Railway Co. Ltd.
 691,000 23,500,805
Kintetsu Group Holdings Co. Ltd.
 995,000 41,715,910
Kyushu Railway Co.
 891,600 28,435,676
Nagoya Railroad Co. Ltd.
 1,011,600 26,052,343
Nippon Express Co. Ltd.
 445,800 33,605,799
Odakyu Electric Railway Co. Ltd.
 1,560,300 33,821,220
Tobu Railway Co. Ltd.
 1,114,500 34,621,359
Tokyu Corp.
 2,922,500 52,023,701
West Japan Railway Co.
 891,600 64,240,828
    785,955,035
Semiconductors & Semiconductor Equipment — 1.6%
Disco Corp.
 144,500 27,331,907
Renesas Electronics Corp.(b)
 4,680,900 46,617,275
Rohm Co. Ltd.
 491,900 45,683,382
Sumco Corp.
 1,337,400 32,608,703
Tokyo Electron Ltd.
 891,652 167,423,266
    319,664,533
Software — 2.0%
Konami Holdings Corp.
 498,700 23,455,815
LINE Corp.(a)(b)
 453,500 16,487,873
Nexon Co. Ltd.(b)
 2,451,900 40,644,962
Nintendo Co. Ltd.
 634,500 262,805,467
Oracle Corp. Japan(b)
 222,900 17,008,063
Trend Micro Inc./Japan
 668,700 38,037,333
    398,439,513
Specialty Retail — 1.5%
ABC-Mart Inc.
 222,900 13,745,962
Fast Retailing Co. Ltd.
 320,500 140,802,292
Hikari Tsushin Inc.
 93,100 16,572,820
Nitori Holdings Co. Ltd.
 445,800 76,792,738
Shimamura Co. Ltd.
 108,100 11,064,218
USS Co. Ltd.
 1,337,400 25,370,531
Yamada Denki Co. Ltd.(a)
 3,566,400 18,513,964
    302,862,525
Technology Hardware, Storage & Peripherals — 2.2%
Brother Industries Ltd.
 1,337,400 28,066,381
 Security   Shares Value
Technology Hardware, Storage & Peripherals (continued)
Canon Inc.
   5,621,850 $    192,181,425
FUJIFILM Holdings Corp.
   2,229,000      85,799,420
Konica Minolta Inc.
   2,451,900      22,432,589
NEC Corp.
   1,562,900      44,163,127
Ricoh Co. Ltd.
   3,789,300      34,389,524
Seiko Epson Corp.
   1,560,300     27,416,013
    434,448,479
Textiles, Apparel & Luxury Goods — 0.1%
Asics Corp.
 891,600 14,903,084
Tobacco — 0.8%
Japan Tobacco Inc.
 6,076,000 164,196,567
Trading Companies & Distributors — 3.7%
ITOCHU Corp.
 8,024,400 151,115,306
Marubeni Corp.
 8,916,000 69,624,322
Mitsubishi Corp.
 7,578,600 211,429,303
Mitsui & Co. Ltd.
 9,584,700 169,118,412
Sumitomo Corp.
 6,464,100 108,731,582
Toyota Tsusho Corp.
 1,114,500 38,570,758
    748,589,683
Transportation Infrastructure — 0.1%
Japan Airport Terminal Co. Ltd.
 222,900 10,299,213
Kamigumi Co. Ltd.
 668,700 14,660,991
    24,960,204
Wireless Telecommunication Services — 4.1%
KDDI Corp.
 10,260,200 278,166,681
NTT DOCOMO Inc.
 7,808,300 202,529,241
SoftBank Group Corp.
 4,687,700 335,036,040
    815,731,962
Total Common Stocks — 99.1%

(Cost: $19,047,434,244)
 19,913,502,301
Short-Term Investments
Money Market Funds — 0.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(c)(d)(e)
 91,232,671 91,250,917
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(c)(d)
 7,848,162 7,848,162
    99,099,079
Total Short-Term Investments — 0.5%

(Cost: $99,084,392)
 99,099,079
Total Investments in Securities — 99.6%

(Cost: $19,146,518,636)
 20,012,601,380
Other Assets, Less Liabilities — 0.4%
 89,315,402
Net Assets — 100.0%
 $ 20,101,916,782
    
(a) All or a portion of this security is on loan.
(b) Non-income producing security.
(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 cash collateral received from loaned securities.
 
 
141
  

iShares® MSCI Japan ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 40,539,970 50,692,701 91,232,671 $91,250,917   $3,045,592 (a)   $ (12,554)   $ 7,875
BlackRock Cash Funds: Treasury, SL Agency Shares
 5,281,032 2,567,130 7,848,162 7,848,162   89,760   —   —
        $99,099,079   $3,135,352   $ (12,554)   $ 7,875
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
TOPIX Index
 1,184 06/07/18 $190,113 $ 3,596,433
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $19,913,502,301   $            —   $            —   $19,913,502,301
Money Market Funds
     99,099,079               —               —       99,099,079
  $20,012,601,380   $            —   $            —   $20,012,601,380
Derivative financial instruments(a)              
Assets              
Futures Contracts
 $     3,596,433   $            —   $            —   $     3,596,433
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
  
142

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 0.0%
Jamco Corp.(a)
      6,700 $     139,556
Air Freight & Logistics — 0.2%
Kintetsu World Express Inc.
     26,800      547,372
Konoike Transport Co. Ltd.
     20,100      327,461
Maruwa Unyu Kikan Co. Ltd.
      6,700      225,091
Mitsui-Soko Holdings Co. Ltd.(b)
     67,000     207,207
    1,307,131
Auto Components — 3.4%
Aisan Industry Co. Ltd.
 20,100 188,891
Akebono Brake Industry Co. Ltd.(a)(b)
 60,300 118,774
Daido Metal Co. Ltd.
 20,100 225,708
Daikyonishikawa Corp.
 26,800 434,641
Eagle Industry Co. Ltd.
 13,400 221,884
Exedy Corp.
 20,100 634,571
FCC Co. Ltd.
 20,100 555,019
Futaba Industrial Co. Ltd.
 40,200 289,350
G-Tekt Corp.
 13,400 230,024
Ichikoh Industries Ltd.
 20,100 268,814
Kasai Kogyo Co. Ltd.
 20,100 268,999
Keihin Corp.
 26,800 523,198
KYB Corp.
 13,400 631,488
Mitsuba Corp.
 20,100 205,357
Musashi Seimitsu Industry Co. Ltd.
 13,400 493,350
NHK Spring Co. Ltd.
 134,000 1,323,411
Nifco Inc./Japan
 53,600 1,852,529
Nippon Seiki Co. Ltd.
 33,500 607,129
Nissin Kogyo Co. Ltd.
 26,800 475,096
Pacific Industrial Co. Ltd.
 26,800 379,633
Piolax Inc.
 20,100 508,952
Press Kogyo Co. Ltd.
 60,300 332,456
Riken Corp.
 6,700 340,411
Sanden Holdings Corp.(a)(b)
 13,400 179,826
Shoei Co. Ltd.
 10,500 405,426
Showa Corp.
 33,500 602,195
Sumitomo Riko Co. Ltd.
 26,800 279,976
Tachi-S Co. Ltd.
 20,100 360,577
Taiho Kogyo Co. Ltd.
 13,400 172,056
Tokai Rika Co. Ltd.
 33,500 628,404
Topre Corp.
 20,100 560,569
Toyo Tire & Rubber Co. Ltd.
 67,000 1,040,968
Toyota Boshoku Corp.
 40,200 765,186
TPR Co. Ltd.
 13,400 346,825
TS Tech Co. Ltd.
 26,800 1,181,573
Unipres Corp.
 26,800 571,053
Yorozu Corp.
 13,400 219,417
    18,423,736
Automobiles — 0.1%
Nissan Shatai Co. Ltd.
 53,600 481,509
Banks — 4.8%
77 Bank Ltd. (The)
 33,500 746,500
Aichi Bank Ltd. (The)
 6,700 305,260
Akita Bank Ltd. (The)
 13,400 366,312
Aomori Bank Ltd. (The)
 13,400 407,014
Awa Bank Ltd. (The)
 134,000 855,962
Bank of Iwate Ltd. (The)
 13,400 518,634
Bank of Nagoya Ltd. (The)(a)
 6,700 238,658
 Security   Shares Value
Banks (continued)
Bank of Okinawa Ltd. (The)
     13,400 $     522,334
Bank of Saga Ltd. (The)
      6,700      146,587
Bank of the Ryukyus Ltd.
     26,800      407,507
Chiba Kogyo Bank Ltd. (The)
     33,500      152,630
Chugoku Bank Ltd. (The)(a)
    107,200    1,207,721
Chukyo Bank Ltd. (The)
      6,700      143,256
Daishi Bank Ltd. (The)
     13,400      560,569
Ehime Bank Ltd. (The)
     20,100      228,483
Eighteenth Bank Ltd. (The)
 67,000 181,923
Gunma Bank Ltd. (The)
 214,400 1,219,561
Hachijuni Bank Ltd. (The)
 187,600 834,008
Hiroshima Bank Ltd. (The)
 167,500 1,191,748
Hokkoku Bank Ltd. (The)
 13,400 532,201
Hokuetsu Bank Ltd. (The)
 13,400 278,003
Hokuhoku Financial Group Inc.
 73,700 1,048,060
Hyakugo Bank Ltd. (The)
 134,000 561,186
Hyakujushi Bank Ltd. (The)
 134,000 441,548
Iyo Bank Ltd. (The)
 160,800 1,105,597
Jimoto Holdings Inc.
 107,200 180,566
Juroku Bank Ltd. (The)
 20,100 531,523
Kansai Mirai Financial Group Inc.(b)
 53,674 415,480
Keiyo Bank Ltd. (The)
 134,000 600,653
Kiyo Bank Ltd. (The)
 40,200 673,793
Kyushu Financial Group Inc.
 194,300 931,753
Miyazaki Bank Ltd. (The)
 6,700 214,299
Musashino Bank Ltd. (The)
 20,100 641,972
Nanto Bank Ltd. (The)
 20,100 522,828
Nishi-Nippon Financial Holdings Inc.
 93,800 1,093,017
North Pacific Bank Ltd.
 180,900 601,085
Ogaki Kyoritsu Bank Ltd. (The)
 20,100 521,163
Oita Bank Ltd. (The)
 6,700 238,966
San ju San Financial Group Inc.(b)
 6,700 141,838
San-in Godo Bank Ltd. (The)
 93,800 866,816
Senshu Ikeda Holdings Inc.
 160,800 569,819
Shiga Bank Ltd. (The)
 134,000 706,724
Shikoku Bank Ltd. (The)
 26,800 347,565
Tochigi Bank Ltd. (The)
 60,300 217,567
Toho Bank Ltd. (The)
 134,000 498,283
Tokyo Kiraboshi Financial Group Inc.
 13,430 305,820
TOMONY Holdings Inc.
 93,800 407,507
Towa Bank Ltd. (The)
 20,100 230,703
Tsukuba Bank Ltd.
 41,700 113,610
Yamagata Bank Ltd. (The)
 13,400 294,653
Yamanashi Chuo Bank Ltd. (The)
 67,000 273,809
    26,343,074
Beverages — 0.7%
Ito En Ltd.
 33,500 1,379,838
Sapporo Holdings Ltd.
 40,200 1,036,035
Takara Holdings Inc.
 107,200 1,277,776
    3,693,649
Biotechnology — 0.8%
GNI Group Ltd.(a)(b)
 67,000 281,826
HEALIOS KK(a)(b)
 6,700 102,062
Japan Tissue Engineering Co. Ltd.(b)
 13,400 166,259
NanoCarrier Co. Ltd.(b)
 26,600 143,473
PeptiDream Inc.(a)(b)
 60,300 2,625,238
SanBio Co. Ltd.(b)
 13,400 364,462
Takara Bio Inc.
 33,500 782,885
    4,466,205
 
 
143
  

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Building Products — 1.6%
Aica Kogyo Co. Ltd.
     33,500 $   1,254,959
Bunka Shutter Co. Ltd.
     33,500      304,952
Central Glass Co. Ltd.
     26,800      596,707
Maeda Kosen Co. Ltd.
     13,400      234,341
Nichias Corp.
     69,000      868,811
Nichiha Corp.
     20,100      803,852
Nippon Sheet Glass Co. Ltd.
     60,300      607,745
Nitto Boseki Co. Ltd.
     13,600      312,570
Noritz Corp.
 20,100 350,957
Okabe Co. Ltd.
 26,800 239,521
Sankyo Tateyama Inc.
 20,100 285,465
Sanwa Holdings Corp.
 127,300 1,395,502
Sekisui Jushi Corp.
 20,100 420,519
Sinko Industries Ltd.
 13,400 245,195
Takara Standard Co. Ltd.
 26,800 435,381
Takasago Thermal Engineering Co. Ltd.
 33,500 606,204
    8,962,681
Capital Markets — 1.0%
Ichiyoshi Securities Co. Ltd.
 26,800 317,964
Jafco Co. Ltd.
 20,100 827,903
kabu.com Securities Co. Ltd.
 93,800 334,985
Kyokuto Securities Co. Ltd.
 13,400 180,319
M&A Capital Partners Co. Ltd.(b)
 6,700 653,689
Marusan Securities Co. Ltd.
 33,500 309,885
Matsui Securities Co. Ltd.
 73,700 698,028
Monex Group Inc.(a)
 120,600 717,084
Okasan Securities Group Inc.
 67,000 337,945
SPARX Group Co. Ltd.
 60,300 157,070
Tokai Tokyo Financial Holdings Inc.
 140,700 932,431
Uzabase Inc.(b)
 6,700 198,882
    5,666,185
Chemicals — 6.7%
Achilles Corp.
 13,400 280,099
ADEKA Corp.
 53,600 968,446
C.I. Takiron Corp.
 6,700 42,058
Chugoku Marine Paints Ltd.
 40,200 393,693
Dainichiseika Color & Chemicals Manufacturing Co. Ltd.
 6,900 240,384
Denka Co. Ltd.
 53,600 1,970,933
DIC Corp.
 46,900 1,534,627
Fujimi Inc.
 13,400 329,804
Fujimori Kogyo Co. Ltd.
 13,400 466,216
Fuso Chemical Co. Ltd.
 13,400 343,988
Hodogaya Chemical Co. Ltd.
 6,700 227,558
Ishihara Sangyo Kaisha Ltd.(b)
 20,100 222,192
JCU Corp.
 13,400 316,484
JSP Corp.
 6,700 209,057
Kanto Denka Kogyo Co. Ltd.
 26,800 278,249
KH Neochem Co. Ltd.
 20,100 543,733
Koatsu Gas Kogyo Co. Ltd.
 20,100 177,051
Konishi Co. Ltd.
 20,100 338,931
Kumiai Chemical Industry Co. Ltd.(a)
 54,849 344,305
Kureha Corp.
 13,400 900,364
Lintec Corp.
 33,500 968,199
Nihon Nohyaku Co. Ltd.
 33,500 212,449
Nihon Parkerizing Co. Ltd.
 60,300 898,020
Nippon Kayaku Co. Ltd.
 87,100 958,826
Nippon Shokubai Co. Ltd.
 20,100 1,552,202
Nippon Soda Co. Ltd.
 67,000 371,863
Nippon Valqua Industries Ltd.
 6,700 204,740
 Security   Shares Value
Chemicals (continued)
NOF Corp.
     41,000 $   1,249,114
Okamoto Industries Inc.
     24,000      252,934
Osaka Soda Co. Ltd.
      6,700      194,565
Sakai Chemical Industry Co. Ltd.
      6,700      171,747
Sakata INX Corp.
     26,800      378,399
Sanyo Chemical Industries Ltd.
      6,700      323,761
Sekisui Plastics Co. Ltd.
     13,400      157,132
Shikoku Chemicals Corp.
     20,100      281,209
Shin-Etsu Polymer Co. Ltd.
 26,800 268,629
Showa Denko KK
 87,100 3,771,968
Stella Chemifa Corp.(a)
 6,700 219,849
Sumitomo Bakelite Co. Ltd.
 134,000 1,365,346
Sumitomo Seika Chemicals Co. Ltd.
 6,700 308,035
T. Hasegawa Co. Ltd.(a)
 13,400 272,453
Taiyo Holdings Co. Ltd.
 13,400 551,319
Takasago International Corp.
 6,700 212,757
Tanaka Chemical Corp.(a)(b)
 6,700 86,275
Tayca Corp.
 6,700 157,625
Tenma Corp.
 13,400 234,711
Toagosei Co. Ltd.
 73,700 861,512
Tokai Carbon Co. Ltd.
 127,300 2,616,420
Tokuyama Corp.
 40,200 1,437,498
Tokyo Ohka Kogyo Co. Ltd.
 20,100 764,076
Toyo Ink SC Holdings Co. Ltd.
 134,000 752,359
Toyobo Co. Ltd.
 53,600 892,470
Ube Industries Ltd.
 67,000 1,908,647
W-Scope Corp.(a)
 20,100 346,332
Zeon Corp.
 100,500 1,278,393
    36,610,006
Commercial Services & Supplies — 1.6%
Aeon Delight Co. Ltd.
 13,400 479,166
Bell System24 Holdings Inc.
 20,100 345,222
Central Security Patrols Co. Ltd.
 6,700 268,876
Daiseki Co. Ltd.
 26,860 866,531
Duskin Co. Ltd.
 26,800 650,729
Itoki Corp.
 26,800 156,885
Kokuyo Co. Ltd.
 53,600 1,006,927
Kyodo Printing Co. Ltd.
 5,800 155,403
Matsuda Sangyo Co. Ltd.
 13,460 211,604
Mitsubishi Pencil Co. Ltd.
 26,800 556,992
Nichiban Co. Ltd.
 6,700 177,668
Nippon Kanzai Co. Ltd.
 13,400 271,219
Nippon Parking Development Co. Ltd.
 127,300 214,422
Okamura Corp.
 40,200 606,080
Oyo Corp.
 13,400 179,949
Pilot Corp.
 18,200 966,579
Prestige International Inc.
 33,500 490,575
Relia Inc.
 26,800 381,853
Sato Holdings Corp.
 13,400 362,612
Toppan Forms Co. Ltd.
 33,500 348,737
    8,698,029
Communications Equipment — 0.1%
Denki Kogyo Co. Ltd.
 6,700 189,323
Icom Inc.
 6,700 168,109
    357,432
Construction & Engineering — 4.8%
Chiyoda Corp.(a)
 113,900 991,757
Chudenko Corp.
 20,100 539,848
COMSYS Holdings Corp.
 73,700 1,963,841
 
 
  
144

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Construction & Engineering (continued)
Dai-Dan Co. Ltd.
      6,700 $     150,410
Daiho Corp.
     67,000      376,179
Fudo Tetra Corp.
    120,600      206,467
Fukuda Corp.
      6,700      416,264
Hazama Ando Corp.
    113,900      999,095
Hibiya Engineering Ltd.
     13,400      267,889
Kandenko Co. Ltd.
     60,300      663,247
Kinden Corp.
     87,100    1,437,437
Kumagai Gumi Co. Ltd.
 20,100 678,973
Kyowa Exeo Corp.
 53,600 1,406,047
Kyudenko Corp.
 26,800 1,295,044
Maeda Corp.
 87,100 946,800
Maeda Road Construction Co. Ltd.
 40,200 798,857
Mirait Holdings Corp.
 40,200 631,611
Nippo Corp.
 34,100 660,689
Nippon Densetsu Kogyo Co. Ltd.
 20,100 439,390
Nippon Koei Co. Ltd.
 6,700 188,706
Nippon Road Co. Ltd. (The)
 6,700 354,595
Nishimatsu Construction Co. Ltd.
 33,700 973,979
Okumura Corp.
 20,300 677,321
OSJB Holdings Corp.(a)
 87,100 232,491
Penta-Ocean Construction Co. Ltd.
 180,900 1,180,525
Raito Kogyo Co. Ltd.
 26,800 264,682
Sanki Engineering Co. Ltd.
 26,800 267,889
Shinnihon Corp.
 20,100 236,438
SHO-BOND Holdings Co. Ltd.
 13,400 901,597
Sumitomo Densetsu Co. Ltd.
 13,400 244,208
Sumitomo Mitsui Construction Co. Ltd.
 107,200 718,317
Taihei Dengyo Kaisha Ltd.
 6,700 181,923
Taikisha Ltd.
 13,400 421,814
Takamatsu Construction Group Co. Ltd.
 6,700 187,781
Tekken Corp.
 6,700 184,081
Toa Corp./Tokyo
 6,700 160,400
Toda Corp.
 134,000 1,181,573
Tokyu Construction Co. Ltd.
 53,640 544,571
Toshiba Plant Systems & Services Corp.
 33,500 748,967
Totetsu Kogyo Co. Ltd.
 13,400 424,281
Toyo Construction Co. Ltd.
 46,900 206,775
Toyo Engineering Corp.(a)(b)
 20,100 153,555
Yahagi Construction Co. Ltd.
 20,100 163,731
Yokogawa Bridge Holdings Corp.
 20,100 462,701
Yurtec Corp.
 20,100 164,101
    26,296,847
Construction Materials — 0.2%
Sumitomo Osaka Cement Co. Ltd.
 268,000 1,260,509
Consumer Finance — 0.5%
Aiful Corp.(b)
 214,400 710,424
Hitachi Capital Corp.
 33,500 869,838
J Trust Co. Ltd.(a)
 46,900 370,382
Jaccs Co. Ltd.
 13,400 303,533
Orient Corp.(a)
 294,800 409,727
    2,663,904
Containers & Packaging — 0.6%
FP Corp.
 13,400 778,259
Fuji Seal International Inc.
 26,800 1,057,002
Pack Corp. (The)
 6,700 234,033
Rengo Co. Ltd.
 120,600 1,072,296
    3,141,590
 Security   Shares Value
Distributors — 0.5%
Arata Corp.
      6,700 $     418,731
Canon Marketing Japan Inc.
     33,500      719,674
Doshisha Co. Ltd.
     13,400      306,987
PALTAC Corp.
     20,100   1,189,590
    2,634,982
Diversified Consumer Services — 0.0%
Meiko Network Japan Co. Ltd.
     13,400     157,625
Diversified Financial Services — 0.9%
Financial Products Group Co. Ltd.
 46,900 630,686
Fuyo General Lease Co. Ltd.
 13,400 969,433
IBJ Leasing Co. Ltd.
 20,100 568,894
Japan Investment Adviser Co. Ltd.
 6,700 339,795
Japan Securities Finance Co. Ltd.
 60,300 359,097
Ricoh Leasing Co. Ltd.
 6,700 223,857
Zenkoku Hosho Co. Ltd.
 33,500 1,615,721
    4,707,483
Electric Utilities — 0.7%
Hokkaido Electric Power Co. Inc.(a)
 120,600 821,428
Hokuriku Electric Power Co.(b)
 107,200 1,079,449
Okinawa Electric Power Co. Inc. (The)
 25,912 590,768
Shikoku Electric Power Co. Inc.
 93,800 1,228,565
    3,720,210
Electrical Equipment — 1.7%
Chiyoda Integre Co. Ltd.
 6,700 146,155
Cosel Co. Ltd.
 13,400 170,699
Daihen Corp.
 67,000 476,699
Denyo Co. Ltd.
 13,400 241,865
FDK Corp.(a)(b)
 67,000 128,888
Fujikura Ltd.
 167,500 1,143,955
Furukawa Electric Co. Ltd.
 46,900 1,817,378
Futaba Corp.
 20,100 365,942
GS Yuasa Corp.
 201,000 954,632
Idec Corp./Japan
 20,100 507,102
Nippon Carbon Co. Ltd.
 6,700 394,680
Nissin Electric Co. Ltd.
 33,500 316,052
Nitto Kogyo Corp.
 13,400 253,952
Sanyo Denki Co. Ltd.
 6,700 561,185
Sinfonia Technology Co. Ltd.(a)
 67,000 262,709
Tatsuta Electric Wire and Cable Co. Ltd.
 26,800 149,485
Toyo Tanso Co. Ltd.
 6,700 230,641
Ushio Inc.
 73,700 949,699
    9,071,718
Electronic Equipment, Instruments & Components — 4.5%
Ai Holdings Corp.
 26,800 635,435
Amano Corp.
 33,500 836,845
Anritsu Corp.
 93,800 1,259,646
Azbil Corp.
 40,200 1,972,166
Canon Electronics Inc.
 13,400 293,050
Citizen Watch Co. Ltd.
 187,600 1,251,875
CMK Corp.
 26,800 170,699
CONEXIO Corp.
 6,700 130,244
Daiwabo Holdings Co. Ltd.
 13,400 752,359
Dexerials Corp.
 33,500 335,786
Elematec Corp.
 6,700 157,872
Enplas Corp.
 6,700 197,340
ESPEC Corp.
 6,700 147,388
Hioki E.E. Corp.
 8,100 319,467
Hochiki Corp.
 6,700 137,336
 
 
145
  

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Electronic Equipment, Instruments & Components (continued)
Horiba Ltd.
     26,800 $   2,234,875
Hosiden Corp.
     33,500      323,144
Ibiden Co. Ltd.
     73,700    1,148,457
Iriso Electronics Co. Ltd.
     13,400      833,761
Japan Aviation Electronics Industry Ltd.
     24,000      400,939
Japan Cash Machine Co. Ltd.
     13,400      145,045
Japan Display Inc.(b)
    381,900      435,875
Kaga Electronics Co. Ltd.
     13,400      343,741
Koa Corp.(a)
 13,400 281,333
Macnica Fuji Electronics Holdings Inc.
 26,800 449,442
Maruwa Co. Ltd./Aichi
 6,700 536,518
Nichicon Corp.
 33,500 417,806
Nippon Ceramic Co. Ltd.
 13,400 331,408
Nippon Chemi-Con Corp.
 6,700 253,458
Nippon Signal Co. Ltd.
 33,500 310,194
Nissha Co. Ltd.(a)
 26,800 548,112
Nohmi Bosai Ltd.
 13,400 326,474
Ohara Inc.
 6,700 135,548
Oki Electric Industry Co. Ltd.
 53,600 613,234
Optex Group Co. Ltd.
 20,100 564,269
Osaki Electric Co. Ltd.
 13,400 102,987
Riken Keiki Co. Ltd.
 6,700 164,964
Ryosan Co. Ltd.
 13,600 497,584
Ryoyo Electro Corp.
 13,400 222,254
Sanshin Electronics Co. Ltd.
 6,700 132,526
SIIX Corp.(a)
 20,100 386,478
Taiyo Yuden Co. Ltd.
 73,700 1,663,329
Tamura Corp.
 40,200 294,530
Topcon Corp.(a)
 67,000 1,168,622
UKC Holdings Corp.
 6,700 136,720
V Technology Co. Ltd.
 2,500 571,586
    24,572,721
Energy Equipment & Services — 0.2%
Japan Drilling Co. Ltd.(b)
 6,700 107,797
Modec Inc.
 13,400 364,709
Shinko Plantech Co. Ltd.
 26,800 238,534
Toyo Kanetsu KK
 6,700 234,033
    945,073
Equity Real Estate Investment Trusts (REITs) — 7.3%
Activia Properties Inc.
 402 1,792,710
Advance Residence Investment Corp.
 871 2,284,025
AEON REIT Investment Corp.
 938 1,061,936
Comforia Residential REIT Inc.
 335 797,068
Daiwa Office Investment Corp.
 201 1,178,490
Frontier Real Estate Investment Corp.
 335 1,384,463
Fukuoka REIT Corp.
 469 753,284
Global One Real Estate Investment Corp.
 536 543,672
GLP J-REIT
 1,876 2,099,697
Hankyu REIT Inc.
 335 423,973
Heiwa Real Estate REIT Inc.
 603 588,320
Hoshino Resorts REIT Inc.
 134 685,756
Hulic Reit Inc.
 603 949,637
Ichigo Office REIT Investment
 871 675,026
Industrial & Infrastructure Fund Investment Corp.
 871 974,859
Invesco Office J-Reit Inc.
 5,427 738,286
Invincible Investment Corp.
 3,149 1,449,215
Japan Excellent Inc.
 804 1,073,036
Japan Hotel REIT Investment Corp.
 2,613 1,952,926
Japan Logistics Fund Inc.
 536 1,108,064
 Security   Shares Value
Equity Real Estate Investment Trusts (REITs) (continued)
Japan Rental Housing Investments Inc.
      1,072 $     862,376
Kenedix Office Investment Corp.
        272    1,689,907
Kenedix Residential Next Investment Corp.
        469      689,827
Kenedix Retail REIT Corp.
        335      746,500
LaSalle Logiport REIT
        737      751,619
MCUBS MidCity Investment Corp.
      1,005      778,876
Mitsubishi Estate Logistics REIT Investment Corp.
        206      504,927
Mitsui Fudosan Logistics Park Inc.
        134      421,197
Mori Hills REIT Investment Corp.
 1,005 1,295,043
Mori Trust Hotel Reit Inc.
 201 267,704
Mori Trust Sogo REIT Inc.
 670 997,183
Nippon Accommodations Fund Inc.
 335 1,512,426
NIPPON REIT Investment Corp.
 268 816,494
Orix JREIT Inc.
 1,675 2,650,214
Premier Investment Corp.
 871 863,424
Sekisui House Reit Inc.
 2,308 1,516,786
Tokyu REIT Inc.
 603 828,643
    39,707,589
Food & Staples Retailing — 3.5%
Ain Holdings Inc.(a)
 14,400 1,020,572
Arcs Co. Ltd.
 26,800 728,678
Axial Retailing Inc.
 6,700 253,150
Belc Co. Ltd.
 6,700 350,895
Cawachi Ltd.
 6,700 150,225
Cocokara fine Inc.
 13,400 996,567
Cosmos Pharmaceutical Corp.
 6,700 1,446,749
Create SD Holdings Co. Ltd.
 20,100 600,345
Daikokutenbussan Co. Ltd.
 6,700 343,495
Genky DrugStores Co. Ltd.(b)
 6,700 273,809
Heiwado Co. Ltd.
 20,100 487,306
Kansai Super Market Ltd.
 6,700 75,421
Kato Sangyo Co. Ltd.
 13,400 468,066
Kobe Bussan Co. Ltd.
 6,700 326,844
Kusuri no Aoki Holdings Co. Ltd.
 7,800 572,912
Life Corp.
 6,700 169,281
Matsumotokiyoshi Holdings Co. Ltd.
 53,600 2,595,021
Ministop Co. Ltd.
 13,400 276,646
Mitsubishi Shokuhin Co. Ltd.
 6,700 179,949
Qol Co. Ltd.
 13,400 287,006
Retail Partners Co. Ltd.
 17,000 287,597
San-A Co. Ltd.
 13,400 682,056
Shoei Foods Corp.
 6,700 287,068
Sogo Medical Co. Ltd.
 13,400 294,160
Sugi Holdings Co. Ltd.
 26,800 1,610,787
United Super Markets Holdings Inc.
 33,500 440,007
Valor Holdings Co. Ltd.
 26,800 648,755
Welcia Holdings Co. Ltd.
 33,500 1,813,061
Yakuodo Co. Ltd.
 6,700 245,133
Yaoko Co. Ltd.
 13,400 714,124
Yokohama Reito Co. Ltd.
 33,500 329,311
    18,954,996
Food Products — 4.6%
Ariake Japan Co. Ltd.(a)
 13,400 1,165,539
Chubu Shiryo Co. Ltd.
 13,400 252,719
DyDo Group Holdings Inc.
 6,700 384,196
Ezaki Glico Co. Ltd.
 26,800 1,393,713
Feed One Co. Ltd.
 53,600 125,311
Fuji Oil Holdings Inc.
 33,500 1,217,958
Fujicco Co. Ltd.
 13,400 328,941
 
 
  
146

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Food Products (continued)
Fujiya Co. Ltd.
      6,700 $     162,744
Hokuto Corp.
     13,400      250,745
House Foods Group Inc.
     40,200    1,476,350
Itoham Yonekyu Holdings Inc.
     93,800      888,400
J-Oil Mills Inc.
      6,700      245,133
Kagome Co. Ltd.
     53,600    1,864,863
Kameda Seika Co. Ltd.
      6,700      362,612
Kenko Mayonnaise Co. Ltd.(a)
      6,700      258,392
Kewpie Corp.
 60,300 1,460,254
KEY Coffee Inc.
 13,400 267,889
Kotobuki Spirits Co. Ltd.
 13,400 719,057
Marudai Food Co. Ltd.
 67,000 308,960
Maruha Nichiro Corp.
 26,800 1,024,934
Megmilk Snow Brand Co. Ltd.
 33,500 928,115
Mitsui Sugar Co. Ltd.
 13,400 450,798
Morinaga & Co. Ltd./Japan
 26,800 1,332,045
Morinaga Milk Industry Co. Ltd.
 26,800 1,054,535
Nichirei Corp.
 73,900 2,007,261
Nippon Beet Sugar Manufacturing Co. Ltd.
 13,400 278,126
Nippon Flour Mills Co. Ltd.
 33,500 559,335
Nippon Suisan Kaisha Ltd.
 187,600 920,344
Nisshin OilliO Group Ltd. (The)
 13,400 383,580
Prima Meat Packers Ltd.
 67,000 402,697
Riken Vitamin Co. Ltd.
 6,700 266,409
Rock Field Co. Ltd.
 20,100 360,947
Rokko Butter Co. Ltd.
 6,700 145,785
S Foods Inc.
 6,700 276,893
Sakata Seed Corp.
 20,100 756,675
Showa Sangyo Co. Ltd.
 13,400 355,089
Warabeya Nichiyo Holdings Co. Ltd.
 13,400 339,425
    24,976,769
Gas Utilities — 0.4%
K&O Energy Group Inc.
 13,400 222,131
Nippon Gas Co. Ltd.(a)
 26,800 1,401,113
Shizuoka Gas Co. Ltd.
 33,500 320,061
    1,943,305
Health Care Equipment & Supplies — 1.9%
Asahi Intecc Co. Ltd.
 60,700 2,184,518
Eiken Chemical Co. Ltd.
 20,100 455,300
Fukuda Denshi Co. Ltd.
 6,700 498,900
Hogy Medical Co. Ltd.
 13,400 609,904
JEOL Ltd.
 67,000 699,940
Mani Inc.
 13,400 627,788
Menicon Co. Ltd.
 13,400 355,582
Nagaileben Co. Ltd.
 13,400 351,758
Nakanishi Inc.
 40,200 851,029
Nihon Kohden Corp.
 53,600 1,489,917
Nikkiso Co. Ltd.
 40,200 435,135
Nipro Corp.
 93,800 1,141,365
Paramount Bed Holdings Co. Ltd.
 13,400 611,137
    10,312,273
Health Care Providers & Services — 1.1%
AS ONE Corp.
 6,700 472,383
BML Inc.
 13,400 336,095
Japan Lifeline Co. Ltd.(a)
 33,500 857,812
Miraca Holdings Inc.
 33,500 1,091,537
NichiiGakkan Co. Ltd.
 26,800 291,076
Ship Healthcare Holdings Inc.
 26,800 979,300
Solasto Corp.
 6,700 224,783
 Security   Shares Value
Health Care Providers & Services (continued)
Toho Holdings Co. Ltd.
     33,500 $     824,203
Tokai Corp./Gifu
     13,400      278,989
Tsukui Corp.
     40,200      312,290
Vital KSK Holdings Inc.
     26,800     272,822
    5,941,290
Health Care Technology — 0.0%
Medical Data Vision Co. Ltd.(b)
     11,600     155,243
Hotels, Restaurants & Leisure — 4.0%
Aeon Fantasy Co. Ltd.
 6,700 434,765
Arcland Service Holdings Co. Ltd.
 6,700 150,163
Atom Corp.
 60,300 589,430
BRONCO BILLY Co. Ltd.
 6,700 261,167
Colowide Co. Ltd.
 40,200 1,128,538
Create Restaurants Holdings Inc.
 33,500 444,015
Doutor Nichires Holdings Co. Ltd.
 20,100 411,084
Fuji Kyuko Co. Ltd.(a)
 13,400 394,063
Fujita Kanko Inc.(a)
 6,700 209,057
Hiday Hidaka Corp.
 13,459 324,691
HIS Co. Ltd.
 26,800 927,498
Ichibanya Co. Ltd.
 6,700 289,226
Kappa Create Co. Ltd.
 20,100 263,079
Kisoji Co. Ltd.
 13,400 356,569
KNT-CT Holdings Co. Ltd.(b)
 6,700 94,230
Komeda Holdings Co. Ltd.
 26,800 527,884
Koshidaka Holdings Co. Ltd.
 28,400 451,702
Kura Corp.(a)
 6,700 509,384
Kyoritsu Maintenance Co. Ltd.
 20,180 1,045,731
Matsuya Foods Co. Ltd.
 6,700 230,333
Monogatari Corp. (The)
 900 93,525
MOS Food Services Inc.
 20,100 604,045
Ohsho Food Service Corp.
 6,700 368,779
Pepper Food Service Co. Ltd.(a)
 6,700 316,361
Plenus Co. Ltd.
 13,400 228,544
Resorttrust Inc.
 53,600 987,686
Ringer Hut Co. Ltd.
 13,400 323,761
Round One Corp.
 46,900 829,691
Royal Holdings Co. Ltd.
 20,100 547,988
Saizeriya Co. Ltd.
 20,100 464,736
Skylark Co. Ltd.(a)
 120,600 1,813,801
St. Marc Holdings Co. Ltd.
 13,400 348,428
Sushiro Global Holdings Ltd.
 13,400 831,295
TKP Corp.(b)
 6,300 313,130
Tokyo Dome Corp.
 60,300 582,214
Tokyotokeiba Co. Ltd.
 13,400 585,236
Toridoll Holdings Corp.
 13,400 404,547
Tosho Co. Ltd.(a)
 13,400 495,817
WATAMI Co. Ltd.(a)
 13,400 167,369
Yoshinoya Holdings Co. Ltd.
 40,200 788,866
Zensho Holdings Co. Ltd.
 60,300 1,507,986
    21,646,414
Household Durables — 1.9%
Alpine Electronics Inc.
 26,800 512,837
Chofu Seisakusho Co. Ltd.
 13,400 307,974
Clarion Co. Ltd.
 67,000 175,139
Cleanup Corp.
 13,400 111,251
ES-Con Japan Ltd.
 20,100 124,509
Foster Electric Co. Ltd.
 13,400 205,850
France Bed Holdings Co. Ltd.
 20,100 182,971
Fujitsu General Ltd.
 40,200 627,171
 
 
147
  

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Household Durables (continued)
Funai Electric Co. Ltd.(b)
     13,300 $      81,285
Haseko Corp.
    180,900    2,754,003
Hinokiya Group Co. Ltd.
      6,700      182,725
JVC Kenwood Corp.
     87,100      289,411
LEC Inc.
      8,600      331,667
Misawa Homes Co. Ltd.
     13,400      119,514
Pioneer Corp.(a)(b)
    214,400      305,877
Pressance Corp.
     26,800      433,901
Sangetsu Corp.
 33,500 704,257
Starts Corp. Inc.
 20,100 516,167
Sumitomo Forestry Co. Ltd.
 87,100 1,334,820
Tamron Co. Ltd.
 13,400 260,489
Token Corp.
 6,720 642,032
Zojirushi Corp.
 26,800 405,780
    10,609,630
Household Products — 0.8%
Earth Corp.
 6,700 350,279
Pigeon Corp.
 73,700 3,629,205
S.T. Corp.
 6,700 165,087
    4,144,571
Independent Power and Renewable Electricity Producers — 0.0%
eRex Co. Ltd.(a)
 20,100 196,662
Industrial Conglomerates — 0.4%
Katakura Industries Co. Ltd.(a)
 13,400 162,806
Nisshinbo Holdings Inc.
 93,800 1,139,638
TOKAI Holdings Corp.
 60,300 621,066
    1,923,510
Insurance — 0.1%
Anicom Holdings Inc.(a)
 13,400 510,617
Internet & Direct Marketing Retail — 0.2%
ASKUL Corp.(a)
 13,400 392,213
Belluna Co. Ltd.
 33,500 432,915
Open Door Inc.(b)
 6,700 132,218
Yume No Machi Souzou Iinkai Co. Ltd.(a)
 13,400 255,185
    1,212,531
Internet Software & Services — 1.2%
Ateam Inc.
 6,700 139,988
COOKPAD Inc.(a)
 40,200 218,307
Dip Corp.
 20,100 496,372
F@N Communications Inc.
 26,800 181,799
GMO Internet Inc.
 46,900 1,257,919
Gree Inc.
 73,700 420,581
Gurunavi Inc.
 20,100 171,131
Infomart Corp.
 60,300 622,176
Internet Initiative Japan Inc.
 20,100 408,864
Istyle Inc.(a)
 26,800 296,257
Mixi Inc.
 26,800 841,162
Rakus Co. Ltd.
 13,400 222,747
SMS Co. Ltd.
 20,100 755,750
UNITED Inc./Japan(a)
 6,700 224,474
ZIGExN Co. Ltd.(a)(b)
 33,500 288,301
    6,545,828
IT Services — 2.5%
Comture Corp.
 6,700 207,207
Digital Garage Inc.
 20,100 843,628
DTS Corp.
 13,400 535,901
Future Corp.
 13,400 178,223
 Security   Shares Value
IT Services (continued)
GMO Payment Gateway Inc.
     13,474 $   1,441,096
Hearts United Group Co. Ltd.
      6,700       99,903
Ines Corp.
     20,100      198,882
Infocom Corp.
      6,700      163,360
Information Services International-Dentsu Ltd.
      6,700      208,132
Itochu Techno-Solutions Corp.
     67,000    1,217,957
Kanematsu Electronics Ltd.
      6,700      220,466
NEC Networks & System Integration Corp.
     13,400      306,370
NET One Systems Co. Ltd.
 53,600 876,683
Nihon Unisys Ltd.
 46,900 1,179,785
NS Solutions Corp.
 26,800 730,898
Remixpoint Inc.
 16,100 247,476
SCSK Corp.
 33,556 1,544,296
SHIFT Inc.(b)
 6,700 296,627
TIS Inc.
 46,948 2,212,469
TKC Corp.
 13,400 537,135
Transcosmos Inc.
 20,100 478,426
    13,724,920
Leisure Products — 0.6%
Fields Corp.
 13,400 114,827
Heiwa Corp.
 33,516 770,919
Mars Engineering Corp.
 6,700 166,197
Mizuno Corp.
 13,400 489,033
Tomy Co. Ltd.
 53,600 476,576
Universal Entertainment Corp.(a)(b)
 13,400 695,624
Yonex Co. Ltd.(a)
 40,200 297,490
    3,010,666
Life Sciences Tools & Services — 0.1%
CMIC Holdings Co. Ltd.
 6,700 134,870
EPS Holdings Inc.
 20,100 399,243
Linical Co. Ltd.
 6,700 131,416
    665,529
Machinery — 6.2%
Aichi Corp.
 20,100 133,019
Aida Engineering Ltd.
 33,500 401,772
Anest Iwata Corp.
 26,800 270,849
Asahi Diamond Industrial Co. Ltd.
 33,500 268,259
Bando Chemical Industries Ltd.
 26,800 320,924
CKD Corp.
 33,500 697,782
Daiwa Industries Ltd.
 20,100 235,328
DMG Mori Co. Ltd.
 67,000 1,128,538
Ebara Corp.
 67,000 2,315,661
Fuji Corp./Aichi
 40,200 824,018
Fujitec Co. Ltd.
 40,200 534,298
Fukushima Industries Corp.
 6,700 296,935
Furukawa Co. Ltd.
 20,100 296,195
Giken Ltd.(a)
 6,700 159,722
Glory Ltd.
 33,500 994,408
Harmonic Drive Systems Inc.(a)
 20,100 962,032
Hirata Corp.(a)
 6,700 491,500
Hisaka Works Ltd.
 6,700 66,725
Hitachi Zosen Corp.
 107,200 550,578
Hosokawa Micron Corp.
 6,700 421,197
Iseki & Co. Ltd.
 13,400 244,208
Japan Steel Works Ltd. (The)
 40,200 1,135,938
Kitz Corp.
 53,600 480,029
Komori Corp.
 33,500 415,956
Kyokuto Kaihatsu Kogyo Co. Ltd.
 20,100 313,955
Makino Milling Machine Co. Ltd.
 67,000 599,420
 
 
  
148

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Machinery (continued)
Max Co. Ltd.
     13,400 $     176,989
Meidensha Corp.
    134,000      503,217
METAWATER Co. Ltd.
      6,700      180,936
Mitsubishi Logisnext Co. Ltd.
     20,100      215,162
Mitsuboshi Belting Ltd.
     13,000      157,826
Mitsui E&S Holdings Co. Ltd.(b)
     46,900      628,528
Miura Co. Ltd.
     60,300    1,605,114
Morita Holdings Corp.
     20,100      405,719
Nachi-Fujikoshi Corp.
 6,700 321,911
Namura Shipbuilding Co. Ltd.
 33,500 160,339
Nippon Sharyo Ltd.(b)
 67,000 166,506
Nippon Thompson Co. Ltd.
 40,200 317,101
Nissei ASB Machine Co. Ltd.
 6,700 320,061
Nitta Corp.
 13,400 513,701
Nitto Kohki Co. Ltd.
 6,700 164,902
Nittoku Engineering Co. Ltd.
 6,700 216,766
Noritake Co. Ltd./Nagoya Japan
 6,700 336,711
NTN Corp.
 268,000 1,144,572
Obara Group Inc.(a)
 7,000 408,486
Oiles Corp.
 13,496 288,814
OKUMA Corp.
 13,400 785,660
OSG Corp.
 46,900 982,938
Rheon Automatic Machinery Co. Ltd.
 13,400 275,906
Ryobi Ltd.
 13,400 406,397
Shibuya Corp.
 6,700 225,399
Shima Seiki Manufacturing Ltd.
 13,400 762,226
Shinmaywa Industries Ltd.
 53,600 621,621
Sintokogio Ltd.
 26,800 255,062
Sodick Co. Ltd.
 26,800 273,809
Star Micronics Co. Ltd.
 26,800 450,922
Tadano Ltd.
 67,000 924,414
Takeuchi Manufacturing Co. Ltd.
 20,100 461,405
Takuma Co. Ltd.
 46,900 543,055
Teikoku Sen-I Co. Ltd.(a)
 13,400 286,143
Tocalo Co. Ltd.
 34,300 418,312
Toshiba Machine Co. Ltd.
 67,000 375,563
Tsubaki Nakashima Co. Ltd.
 26,800 671,449
Tsubakimoto Chain Co.
 67,000 524,801
Tsugami Corp.
 24,000 250,725
Tsukishima Kikai Co. Ltd.
 20,100 334,676
Tsurumi Manufacturing Co. Ltd.
 13,400 237,918
Union Tool Co.
 6,700 236,808
YAMABIKO Corp.
 20,100 265,669
Yamashin-Filter Corp.
 20,100 228,853
Yushin Precision Equipment Co. Ltd.
 13,400 170,329
    33,762,667
Marine — 0.3%
Iino Kaiun Kaisha Ltd.
 60,300 276,399
Kawasaki Kisen Kaisha Ltd.(a)(b)
 53,600 1,105,104
NS United Kaiun Kaisha Ltd.
 6,700 128,518
    1,510,021
Media — 1.4%
Amuse Inc.
 6,700 190,556
Avex Inc.
 20,100 280,469
D.A. Consortium Holdings Inc.
 13,400 343,742
Daiichikosho Co. Ltd.
 26,800 1,253,109
Kadokawa Dwango(b)
 33,508 354,372
Lifull Co. Ltd.
 33,500 239,891
Macromill Inc.
 20,100 473,246
 Security   Shares Value
Media (continued)
Proto Corp.
      6,700 $      99,903
Septeni Holdings Co. Ltd.(a)
     53,600      122,351
Shochiku Co. Ltd.
      6,700      949,082
SKY Perfect JSAT Holdings Inc.
     87,100      393,632
Toei Animation Co. Ltd.
      6,900      224,506
Toei Co. Ltd.
      6,700      727,074
Tokyo Broadcasting System Holdings Inc.
     26,800      569,079
TV Asahi Holdings Corp.
     13,400      287,870
Vector Inc.(a)
 20,100 408,309
Zenrin Co. Ltd.
 20,100 476,576
    7,393,767
Metals & Mining — 2.1%
Aichi Steel Corp.
 6,700 269,492
Asahi Holdings Inc.
 20,100 370,567
Daido Steel Co. Ltd.
 20,100 947,232
Dowa Holdings Co. Ltd.
 33,700 1,068,586
Godo Steel Ltd.(a)
 6,700 141,283
Kyoei Steel Ltd.(a)
 13,400 256,419
Mitsubishi Steel Manufacturing Co. Ltd.
 6,700 139,865
Mitsui Mining & Smelting Co. Ltd.
 40,200 1,764,959
Nakayama Steel Works Ltd.
 6,700 42,243
Neturen Co. Ltd.
 20,100 183,341
Nippon Denko Co. Ltd.
 73,700 221,822
Nippon Light Metal Holdings Co. Ltd.
 395,300 924,168
Nisshin Steel Co. Ltd.
 33,500 491,808
Nittetsu Mining Co. Ltd.
 6,700 331,778
Osaka Steel Co. Ltd.
 6,700 135,055
OSAKA Titanium Technologies Co. Ltd.
 13,400 234,711
Pacific Metals Co. Ltd.(b)
 6,700 224,474
Sanyo Special Steel Co. Ltd.
 13,400 345,222
Toho Titanium Co. Ltd.
 20,100 214,052
Toho Zinc Co. Ltd.
 6,700 264,251
Tokyo Steel Manufacturing Co. Ltd.
 67,000 545,768
Topy Industries Ltd.
 6,700 193,331
Toyo Kohan Co. Ltd.
 33,500 220,774
UACJ Corp.(a)
 20,114 458,580
Yamato Kogyo Co. Ltd.
 26,800 836,228
Yodogawa Steel Works Ltd.
 13,400 344,852
    11,170,861
Multiline Retail — 0.9%
Fuji Co. Ltd./Ehime
 13,400 284,170
H2O Retailing Corp.
 53,635 912,306
Izumi Co. Ltd.
 26,800 1,665,056
Kintetsu Department Store Co. Ltd.(b)
 6,700 246,058
Matsuya Co. Ltd.
 20,100 275,844
Parco Co. Ltd.
 13,400 161,079
Seria Co. Ltd.
 26,800 1,297,510
    4,842,023
Oil, Gas & Consumable Fuels — 0.5%
Cosmo Energy Holdings Co. Ltd.
 40,200 1,370,896
ITOCHU Enex Co. Ltd.
 33,500 339,795
Japan Petroleum Exploration Co. Ltd.
 20,100 513,392
San-Ai Oil Co. Ltd.
 33,500 480,091
    2,704,174
Paper & Forest Products — 0.5%
Daiken Corp.
 6,700 157,317
Daio Paper Corp.(a)
 46,900 673,423
Hokuetsu Kishu Paper Co. Ltd.
 80,400 436,615
Nippon Paper Industries Co. Ltd.
 60,300 1,017,349
 
 
149
  

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Paper & Forest Products (continued)
Tokushu Tokai Paper Co. Ltd.
      6,700 $     261,475
    2,546,179
Personal Products — 1.1%
Ci:z Holdings Co. Ltd.
     20,100    1,145,188
Euglena Co. Ltd.(a)(b)
     46,900      382,901
Fancl Corp.
     26,800    1,240,775
Kitanotatsujin Corp.
     40,200      314,511
Mandom Corp.
     26,800      875,696
Milbon Co. Ltd.
 13,400 649,989
Noevir Holdings Co. Ltd.
 13,400 996,567
YA-MAN Ltd.(a)
 20,100 482,126
    6,087,753
Pharmaceuticals — 2.4%
ASKA Pharmaceutical Co. Ltd.
 13,400 158,242
Fuji Pharma Co. Ltd.
 6,700 246,983
JCR Pharmaceuticals Co. Ltd.
 6,700 427,364
Kaken Pharmaceutical Co. Ltd.
 20,100 1,115,588
Kissei Pharmaceutical Co. Ltd.
 20,100 545,398
KYORIN Holdings Inc.
 26,800 559,952
Mochida Pharmaceutical Co. Ltd.
 6,700 477,316
Nichi-Iko Pharmaceutical Co. Ltd.(a)
 26,850 412,963
Nippon Shinyaku Co. Ltd.
 33,500 2,408,164
Rohto Pharmaceutical Co. Ltd.
 60,300 1,950,891
Sawai Pharmaceutical Co. Ltd.
 26,800 1,180,340
Seikagaku Corp.
 26,800 380,619
Sosei Group Corp.(a)(b)
 13,400 899,130
Torii Pharmaceutical Co. Ltd.
 6,700 173,351
Towa Pharmaceutical Co. Ltd.
 6,700 420,581
Tsumura & Co.
 40,200 1,467,099
ZERIA Pharmaceutical Co. Ltd.
 20,100 415,154
    13,239,135
Professional Services — 2.1%
Altech Corp.
 6,700 143,935
BayCurrent Consulting Inc.
 6,700 259,317
Benefit One Inc.(a)
 20,100 547,433
en-japan Inc.
 13,400 662,322
FULLCAST Holdings Co. Ltd.
 13,400 348,058
Funai Soken Holdings Inc.
 26,800 653,935
JAC Recruitment Co. Ltd.
 6,700 133,575
Link And Motivation Inc.(a)
 20,100 265,854
Meitec Corp.
 13,600 628,395
Nihon M&A Center Inc.
 93,800 3,090,837
Nomura Co. Ltd.
 26,800 579,439
Outsourcing Inc.
 46,900 900,919
Pasona Group Inc.
 13,400 208,934
Tanseisha Co. Ltd.
 26,800 344,112
TechnoPro Holdings Inc.
 20,100 1,304,294
Trust Tech Inc.
 6,700 201,657
UT Group Co. Ltd.(b)
 13,400 483,483
WDB Holdings Co. Ltd.
 6,700 187,781
World Holdings Co. Ltd.
 6,700 231,566
YAMADA Consulting Group Co. Ltd.
 6,700 186,548
Yumeshin Holdings Co. Ltd.
 26,800 265,176
    11,627,570
Real Estate Management & Development — 2.1%
Daibiru Corp.
 33,500 358,912
Daikyo Inc.(a)
 20,100 478,611
Goldcrest Co. Ltd.
 13,400 240,508
Heiwa Real Estate Co. Ltd.
 26,800 556,745
 Security   Shares Value
Real Estate Management & Development (continued)
Ichigo Inc.
    154,100 $     727,630
Japan Asset Marketing Co. Ltd.(b)
     87,100      107,427
Katitas Co. Ltd.
     13,400      492,117
Kenedix Inc.
    167,500    1,080,745
Leopalace21 Corp.
    160,800    1,110,037
NTT Urban Development Corp.
     80,400      842,888
Open House Co. Ltd.
     20,300    1,281,771
Raysum Co. Ltd.
      6,700      120,624
Relo Group Inc.
 73,700 1,909,573
SAMTY Co. Ltd.
 6,700 130,429
Shinoken Group Co. Ltd.
 6,700 208,440
Sun Frontier Fudousan Co. Ltd.
 20,100 248,463
Takara Leben Co. Ltd.
 53,600 207,700
Tateru Inc.
 20,100 396,098
TOC Co. Ltd.
 40,200 323,391
Tosei Corp.
 20,100 253,644
Unizo Holdings Co. Ltd.(a)
 13,400 268,876
    11,344,629
Road & Rail — 2.3%
Fukuyama Transporting Co. Ltd.
 20,100 1,013,834
Hamakyorex Co. Ltd.
 6,700 226,324
Hitachi Transport System Ltd.
 26,800 723,991
Nankai Electric Railway Co. Ltd.
 67,000 1,871,646
Nikkon Holdings Co. Ltd.
 40,200 1,111,887
Nishi-Nippon Railroad Co. Ltd.
 40,200 1,060,086
Sakai Moving Service Co. Ltd.(a)
 6,700 387,280
Sankyu Inc.
 33,700 1,854,904
Seino Holdings Co. Ltd.
 93,800 1,769,893
Senko Group Holdings Co. Ltd.
 67,000 537,751
Sotetsu Holdings Inc.
 46,900 1,357,637
Tonami Holdings Co. Ltd.
 800 56,625
Trancom Co. Ltd.
 6,700 503,217
    12,475,075
Semiconductors & Semiconductor Equipment — 2.1%
Advantest Corp.
 120,600 2,838,365
Ferrotec Holdings Corp.
 20,100 408,309
Japan Material Co. Ltd.
 40,200 653,442
Lasertec Corp.
 26,800 916,397
Megachips Corp.(a)
 13,400 390,980
Micronics Japan Co. Ltd.(a)
 20,100 211,277
Mimasu Semiconductor Industry Co. Ltd.
 6,700 114,026
Mitsui High-Tec Inc.(a)
 13,400 182,786
Optorun Co. Ltd.
 6,700 228,791
Sanken Electric Co. Ltd.
 67,000 397,763
SCREEN Holdings Co. Ltd.
 26,800 2,284,210
Shindengen Electric Manufacturing Co. Ltd.
 6,700 380,496
Shinko Electric Industries Co. Ltd.
 46,900 397,147
Tokyo Seimitsu Co. Ltd.
 26,800 1,027,401
Ulvac Inc.
 26,800 1,195,140
    11,626,530
Software — 2.0%
Akatsuki Inc.
 6,700 292,618
Broadleaf Co. Ltd.
 53,600 289,596
Capcom Co. Ltd.
 53,600 1,262,482
COLOPL Inc.(a)
 33,500 240,200
Computer Engineering & Consulting Ltd.
 6,700 227,249
Digital Arts Inc.
 6,700 359,529
Fuji Soft Inc.
 13,400 548,852
Fukui Computer Holdings Inc.
 6,700 116,801
 
 
  
150

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Software (continued)
GungHo Online Entertainment Inc.(a)
    254,600 $     677,246
Gunosy Inc.(a)(b)
      6,700      102,863
Justsystems Corp.
     20,100      434,765
KLab Inc.
     20,100      306,555
Koei Tecmo Holdings Co. Ltd.
     26,840      539,048
Marvelous Inc.
     20,100      172,611
Miroku Jyoho Service Co. Ltd.
     13,400      378,646
Money Forward Inc.
      6,700      331,778
MTI Ltd.
 20,100 117,479
NSD Co. Ltd.
 26,800 583,386
OBIC Business Consultants Co. Ltd.
 6,700 502,600
PKSHA Technology Inc.(b)
 800 93,737
Square Enix Holdings Co. Ltd.
 53,800 2,678,982
Systena Corp.
 33,500 378,646
    10,635,669
Specialty Retail — 2.8%
Adastria Co. Ltd.(a)
 13,400 191,050
Alpen Co. Ltd.
 13,400 293,913
AOKI Holdings Inc.
 26,800 429,461
Aoyama Trading Co. Ltd.
 26,800 952,165
Arcland Sakamoto Co. Ltd.
 13,400 206,220
Asahi Co. Ltd.(a)
 13,400 163,176
Autobacs Seven Co. Ltd.
 46,900 856,456
Bic Camera Inc.
 67,000 1,060,702
Chiyoda Co. Ltd.
 13,400 316,114
DCM Holdings Co. Ltd.
 67,000 674,039
EDION Corp.
 46,900 484,778
Geo Holdings Corp.
 20,100 286,760
IDOM Inc.
 40,200 270,109
JINS Inc.
 8,000 447,697
Joshin Denki Co. Ltd.
 13,700 489,263
Joyful Honda Co. Ltd.
 20,100 694,698
Keiyo Co. Ltd.(a)
 20,100 99,348
Kohnan Shoji Co. Ltd.
 20,100 487,861
Komeri Co. Ltd.
 20,100 513,947
K's Holdings Corp.
 100,500 1,221,041
Laox Co. Ltd.(b)
 20,100 80,478
LIXIL VIVA Corp.
 13,600 236,837
Nextage Co. Ltd.
 20,100 230,888
Nishimatsuya Chain Co. Ltd.
 33,500 365,079
Nojima Corp.
 20,100 496,557
PAL GROUP Holdings Co. Ltd.
 6,700 171,933
PC Depot Corp.
 20,140 107,703
Sac's Bar Holdings Inc.
 13,400 128,394
Sanrio Co. Ltd.(a)
 33,500 619,154
Shimachu Co. Ltd.
 26,800 830,061
T-Gaia Corp.
 13,400 376,796
Tokyo Base Co. Ltd.(b)
 13,400 119,637
United Arrows Ltd.
 13,400 495,817
VT Holdings Co. Ltd.
 53,600 256,542
Xebio Holdings Co. Ltd.
 13,400 226,324
Yellow Hat Ltd.
 13,400 397,147
    15,278,145
Technology Hardware, Storage & Peripherals — 0.6%
Eizo Corp.
 13,400 575,986
Elecom Co. Ltd.
 6,700 173,474
Maxell Holdings Ltd.
 33,500 552,552
MCJ Co. Ltd.
 20,100 327,831
Melco Holdings Inc.
 6,700 259,009
 Security   Shares Value
Technology Hardware, Storage & Peripherals (continued)
Noritsu Koki Co. Ltd.
     13,400 $     238,535
Riso Kagaku Corp.
     13,400      300,080
Roland DG Corp.
      6,700      148,375
Toshiba TEC Corp.
     67,000      405,163
Wacom Co. Ltd.
     93,800     526,651
    3,507,656
Textiles, Apparel & Luxury Goods — 1.1%
Descente Ltd.
     20,100      387,403
Fujibo Holdings Inc.
 6,700 245,133
Goldwin Inc.(a)
 6,700 555,635
Gunze Ltd.
 13,400 863,363
Japan Wool Textile Co. Ltd. (The)
 40,200 394,063
Kurabo Industries Ltd.
 134,000 461,282
Onward Holdings Co. Ltd.
 67,000 549,469
Seiko Holdings Corp.
 13,400 320,554
Seiren Co. Ltd.
 33,500 617,304
TSI Holdings Co. Ltd.
 46,900 328,941
Unitika Ltd.(a)(b)
 40,200 231,258
Wacoal Holdings Corp.
 26,800 799,227
Yondoshi Holdings Inc.
 13,400 346,825
    6,100,457
Thrifts & Mortgage Finance — 0.0%
Aruhi Corp.
 13,400 215,224
Trading Companies & Distributors — 2.4%
Advan Co. Ltd.
 6,700 60,065
Hanwa Co. Ltd.
 20,100 850,104
Inaba Denki Sangyo Co. Ltd.
 13,600 595,849
Inabata & Co. Ltd.
 26,800 388,513
Iwatani Corp.
 26,800 950,932
Japan Pulp & Paper Co. Ltd.
 6,700 301,868
Kamei Corp.
 13,400 196,230
Kanamoto Co. Ltd.
 20,100 701,174
Kanematsu Corp.
 53,600 832,281
MonotaRO Co. Ltd.(a)
 40,200 1,620,654
Nagase & Co. Ltd.
 67,000 1,120,521
Nippon Steel & Sumikin Bussan Corp.
 6,844 354,027
Nishio Rent All Co. Ltd.
 13,400 443,398
Sojitz Corp.
 824,100 2,943,079
Trusco Nakayama Corp.
 26,800 671,943
Wakita & Co. Ltd.
 26,800 290,830
Yamazen Corp.
 40,200 413,674
Yuasa Trading Co. Ltd.
 13,400 453,265
    13,188,407
Transportation Infrastructure — 0.3%
Mitsubishi Logistics Corp.
 33,500 711,040
Nissin Corp.
 13,400 324,131
Sumitomo Warehouse Co. Ltd. (The)
 67,000 430,448
    1,465,619
Total Common Stocks — 99.4%

(Cost: $534,023,829)
 541,225,759
Short-Term Investments
Money Market Funds — 4.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(c)(d)(e)
 23,644,092 23,648,821
 
 
151
  

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(c)(d)
    138,186 $     138,186
    23,787,007
Total Short-Term Investments — 4.4%

(Cost: $23,784,174)
 23,787,007
Total Investments in Securities — 103.8%

(Cost: $557,808,003)
 565,012,766
Other Assets, Less Liabilities — (3.8)%
 (20,552,860)
Net Assets — 100.0%
 $ 544,459,906
(a) All or a portion of this security is on loan.
(b) Non-income producing security.
(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 cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 9,394,924 14,249,168 23,644,092 $23,648,821   $314,950 (a)   $ (1,869)   $ 1,605
BlackRock Cash Funds: Treasury, SL Agency Shares
 78,081 60,105 138,186 138,186   2,601   —   —
        $23,787,007   $317,551   $ (1,869)   $ 1,605
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
TOPIX Index
 24 06/07/18 $ 3,854 $ 39,587
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
  
152

iShares® MSCI Japan Small-Cap ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $541,225,759   $         —   $         —   $541,225,759
Money Market Funds
  23,787,007            —            —    23,787,007
  $565,012,766   $         —   $         —   $565,012,766
Derivative financial instruments(a)              
Assets              
Futures Contracts
 $     39,587   $         —   $         —   $     39,587
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
153
  

iShares® MSCI Malaysia ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Airlines — 0.9%
AirAsia Group Bhd
  5,953,500 $   4,592,273
Automobiles — 0.5%
UMW Holdings Bhd(a)(b)
  1,608,100   2,585,889
Banks — 32.9%
Alliance Bank Malaysia Bhd
  3,948,100    4,206,016
AMMB Holdings Bhd
  6,503,337    5,800,715
CIMB Group Holdings Bhd
 18,077,012   26,797,581
Hong Leong Bank Bhd
 2,552,640 12,301,416
Hong Leong Financial Group Bhd
 903,100 4,288,590
Malayan Banking Bhd(b)
 14,904,281 36,174,712
Public Bank Bhd
 11,410,280 68,404,342
RHB Bank Bhd
 3,914,902 5,252,658
RHB Bank Bhd, New(a)(c)
 1,621,200 4
    163,226,034
Beverages — 1.0%
Fraser & Neave Holdings Bhd
 501,500 4,765,510
Chemicals — 3.8%
Petronas Chemicals Group Bhd(b)
 9,414,800 19,042,497
Construction & Engineering — 2.3%
Gamuda Bhd(b)
 7,700,400 6,462,145
IJM Corp. Bhd
 11,383,280 4,833,604
    11,295,749
Diversified Telecommunication Services — 0.8%
Telekom Malaysia Bhd(b)
 4,423,000 4,078,495
Electric Utilities — 8.9%
Tenaga Nasional Bhd(b)
 12,216,412 44,200,084
Energy Equipment & Services — 2.4%
Dialog Group Bhd
 14,364,254 11,729,604
Food Products — 11.1%
Felda Global Ventures Holdings Bhd(b)
 6,424,400 2,534,248
Genting Plantations Bhd
 947,200 2,260,904
IOI Corp. Bhd
 7,417,830 8,629,285
Kuala Lumpur Kepong Bhd(b)
 1,680,800 10,515,558
Nestle Malaysia Bhd
 229,900 8,549,045
PPB Group Bhd
 1,862,166 9,320,188
Sime Darby Plantation Bhd(b)
 9,324,555 12,979,406
    54,788,634
Gas Utilities — 2.4%
Petronas Gas Bhd
 2,714,700 11,991,062
Health Care Equipment & Supplies — 3.0%
Hartalega Holdings Bhd
 5,193,300 7,959,580
Top Glove Corp. Bhd
 2,754,900 7,101,828
    15,061,408
Health Care Providers & Services — 3.0%
IHH Healthcare Bhd(b)
 9,687,700 14,604,573
Hotels, Restaurants & Leisure — 6.7%
Genting Bhd
 8,331,000 18,399,369
Genting Malaysia Bhd(b)
 11,650,300 14,577,511
    32,976,880
Industrial Conglomerates — 2.4%
HAP Seng Consolidated Bhd
 2,445,800 6,022,321
 Security   Shares Value
Industrial Conglomerates (continued)
Sime Darby Bhd(b)
  9,322,455 $   5,715,274
    11,737,595
IT Services — 0.4%
My EG Services Bhd
  8,474,600   1,895,074
Marine — 1.3%
MISC Bhd
  4,436,920   6,543,900
Media — 0.4%
Astro Malaysia Holdings Bhd(b)
  5,142,100   1,808,779
Metals & Mining — 1.3%
Press Metal Aluminium Holdings Bhd(b)
 5,300,900 6,299,813
Multi-Utilities — 0.6%
YTL Corp. Bhd
 12,839,262 3,064,648
Oil, Gas & Consumable Fuels — 1.0%
Petronas Dagangan Bhd
 780,700 4,911,741
Real Estate Management & Development — 2.1%
IOI Properties Group Bhd
 6,493,925 2,577,990
Sime Darby Property Bhd
 11,965,555 3,457,384
SP Setia Bhd Group
 5,896,700 4,563,276
    10,598,650
Tobacco — 0.9%
British American Tobacco Malaysia Bhd(b)
 559,600 4,547,101
Transportation Infrastructure — 2.1%
Malaysia Airports Holdings Bhd
 3,325,100 6,959,317
Westports Holdings Bhd
 4,066,300 3,524,808
    10,484,125
Wireless Telecommunication Services — 7.8%
Axiata Group Bhd(b)
 10,644,600 11,660,919
DiGi.Com Bhd(b)
 12,196,600 13,544,968
Maxis Bhd(b)
 9,164,800 13,332,711
    38,538,598
Total Common Stocks — 100.0%

(Cost: $338,671,936)
 495,368,716
Short-Term Investments
Money Market Funds — 2.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 14,249,614 14,252,464
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
 150,918 150,918
    14,403,382
Total Short-Term Investments — 2.9%

(Cost: $14,401,554)
 14,403,382
Total Investments in Securities — 102.9%

(Cost: $353,073,490)
 509,772,098
Other Assets, Less Liabilities — (2.9)%
 (14,134,091)
Net Assets — 100.0%
 $ 495,638,007
    
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(c) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
 
 
  
154

iShares® MSCI Malaysia ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 12,721,787 1,527,827 14,249,614 $14,252,464   $348,745 (a)   $ (3,287)   $ (806)
BlackRock Cash Funds: Treasury, SL Agency Shares
 290,485 (139,567) 150,918 150,918   6,135   —   —
        $14,403,382   $354,880   $ (3,287)   $ (806)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $495,368,712   $         —   $          4   $495,368,716
Money Market Funds
  14,403,382            —            —    14,403,382
  $509,772,094   $         —   $          4   $509,772,098
155
  

iShares® MSCI Mexico ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Airlines — 0.5%
Controladora Vuela Cia. de Aviacion SAB de CV, Class A(a)(b)
   4,430,800 $   2,280,447
Grupo Aeromexico SAB de CV(a)(b)
   2,132,843   2,595,127
    4,875,574
Auto Components — 0.2%
Rassini SAB de CV
     593,299   2,059,844
Banks — 13.8%
Banco del Bajio SA(c)
   4,347,830    8,212,307
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Class B(b)
 11,532,350 15,040,392
Grupo Financiero Banorte SAB de CV, Class O
 13,380,578 71,006,845
Grupo Financiero Inbursa SAB de CV, Class O(b)
 14,283,792 20,106,255
Grupo Financiero Interacciones SA de CV, Series O
 836,900 3,764,135
Regional SAB de CV
 1,591,700 8,838,801
    126,968,735
Beverages — 12.6%
Arca Continental SAB de CV(b)
 2,711,729 16,216,932
Coca-Cola Femsa SAB de CV, Series L, NVS
 2,196,747 12,828,737
Fomento Economico Mexicano SAB de CV
 10,528,710 87,465,673
    116,511,342
Building Products — 0.0%
Elementia SAB de CV(a)(b)(c)
 86,894 53,971
Capital Markets — 0.5%
Bolsa Mexicana de Valores SAB de CV
 3,048,387 4,952,083
Chemicals — 2.0%
Mexichem SAB de CV
 6,529,118 18,332,191
Construction Materials — 4.7%
Cemex SAB de CV, CPO(a)
 71,055,429 42,109,761
Grupo Cementos de Chihuahua SAB de CV
 150,200 788,212
    42,897,973
Consumer Finance — 1.2%
Credito Real SAB de CV SOFOM ER(b)
 1,949,274 2,369,823
Gentera SAB de CV(b)
 6,595,206 4,966,409
Unifin Financiera SAB de CV SOFOM ENR
 1,160,548 3,284,635
    10,620,867
Diversified Telecommunication Services — 1.0%
Axtel SAB de CV, CPO(a)(b)
 9,975,682 2,058,702
Telesites SAB de CV(a)(b)
 9,693,346 6,829,575
    8,888,277
Equity Real Estate Investment Trusts (REITs) — 5.6%
Concentradora Fibra Danhos SA de CV
 2,153,000 3,275,911
Concentradora Fibra Hotelera Mexicana SA de CV(c)
 7,218,890 4,101,396
Fibra Uno Administracion SA de CV
 18,299,041 25,173,023
Macquarie Mexico Real Estate Management SA de CV
 5,880,400 6,026,614
PLA Administradora Industrial S. de RL de CV
 5,605,800 7,958,105
Prologis Property Mexico SA de CV
 2,875,400 5,004,406
    51,539,455
Food & Staples Retailing — 8.6%
Grupo Comercial Chedraui SA de CV
 2,589,800 5,101,333
La Comer SAB de CV(a)(b)
 4,232,555 4,115,724
Wal-Mart de Mexico SAB de CV
 28,068,833 70,212,757
    79,429,814
Food Products — 4.9%
Gruma SAB de CV, Series B
 1,377,515 14,396,438
 Security   Shares Value
Food Products (continued)
Grupo Bimbo SAB de CV, Series A(b)
  10,194,404 $  19,387,930
Grupo Herdez SAB de CV
   1,936,670    3,815,779
Grupo Lala SAB de CV(b)
   1,127,060    1,223,792
Industrias Bachoco SAB de CV, Series B
   1,366,300   6,219,640
    45,043,579
Gas Utilities — 1.4%
Infraestructura Energetica Nova SAB de CV
   3,125,800  13,017,138
Hotels, Restaurants & Leisure — 1.6%
Alsea SAB de CV
 3,359,766 10,981,306
Hoteles City Express SAB de CV(a)(b)
 3,250,900 3,945,772
    14,927,078
Household Durables — 0.3%
Consorcio ARA SAB de CV
 7,975,719 2,566,590
Household Products — 1.7%
Kimberly-Clark de Mexico SAB de CV, Class A
 9,634,854 15,979,133
Industrial Conglomerates — 3.0%
Alfa SAB de CV, Class A
 17,673,151 18,086,093
Grupo Carso SAB de CV, Series A1
 3,057,633 9,498,763
    27,584,856
Insurance — 0.5%
Qualitas Controladora SAB de CV(b)
 1,653,200 4,217,178
Machinery — 0.2%
Grupo Rotoplas SAB de CV(b)
 1,620,504 1,984,697
Media — 4.5%
Grupo Televisa SAB, CPO
 12,027,947 40,028,246
TV Azteca SAB de CV, CPO(b)
 13,694,522 1,799,714
    41,827,960
Metals & Mining — 6.4%
Grupo Mexico SAB de CV, Class B
 15,664,686 38,761,730
Industrias CH SAB de CV, Series B(a)
 1,129,783 4,899,656
Industrias Penoles SAB de CV
 879,023 14,797,089
Minera Frisco SAB de CV, Series A1(a)(b)
 83,665 31,397
    58,489,872
Mortgage Real Estate Investment — 0.2%
Concentradora Hipotecaria SAPI de CV(b)
 2,763,000 2,072,347
Multiline Retail — 0.8%
El Puerto de Liverpool SAB de CV, Series C1, NVS(b)
 1,248,865 7,058,580
Pharmaceuticals — 0.5%
Genomma Lab Internacional SAB de CV, Class B(a)(b)
 5,841,093 4,932,665
Real Estate Management & Development — 0.8%
Corp Inmobiliaria Vesta SAB de CV
 3,982,849 4,989,408
Grupo GICSA SA de CV(a)(b)
 4,768,766 2,173,210
    7,162,618
Transportation Infrastructure — 6.6%
Grupo Aeroportuario del Centro Norte SAB de CV
 1,773,592 8,453,019
Grupo Aeroportuario del Pacifico SAB de CV, Series B
 2,227,649 18,916,605
Grupo Aeroportuario del Sureste SAB de CV, Class B
 1,282,550 20,294,032
Promotora y Operadora de Infraestructura SAB de CV
 1,472,460 13,192,425
    60,856,081
 
 
  
156

iShares® MSCI Mexico ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Wireless Telecommunication Services — 15.6%
America Movil SAB de CV, Series L, NVS
 186,201,818 $ 144,216,994
Total Common Stocks — 99.7%

(Cost: $1,385,114,986)
 919,067,492
Short-Term Investments
Money Market Funds — 2.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
  26,023,883  26,029,088
Total Short-Term Investments — 2.8%

(Cost: $26,025,116)
 26,029,088
Total Investments in Securities — 102.5%

(Cost: $1,411,140,102)
 945,096,580
Other Assets, Less Liabilities — (2.5)%
 (22,759,443)
Net Assets — 100.0%
 $ 922,337,137
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(c) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 27,657,667 (1,633,784) 26,023,883 $26,029,088   $306,361 (a)   $ 821   $ (2,499)
BlackRock Cash Funds: Treasury, SL Agency Shares
 431,254 (431,254) — —   7,160   —   —
        $26,029,088   $313,521   $ 821   $ (2,499)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MEX BOLSA Index
 218 06/15/18 $ 4,879 $ (61,644)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
157
  

iShares® MSCI Mexico ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $919,067,492   $         —   $         —   $919,067,492
Money Market Funds
  26,029,088            —            —    26,029,088
  $945,096,580   $         —   $         —   $945,096,580
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $     (61,644)   $         —   $         —   $     (61,644)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
CPO
 Certificates of Participation (Ordinary)
NVS
 Non-Voting Shares
  
158

iShares® MSCI Netherlands ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Air Freight & Logistics — 0.4%
PostNL NV
   189,284 $     657,551
Banks — 11.6%
ABN AMRO Group NV, CVA(a)
   146,563    3,801,463
ING Groep NV
 1,195,408  17,383,886
    21,185,349
Beverages — 5.7%
Coca-Cola European Partners PLC, NVS
    58,215    2,210,424
Heineken Holding NV
 18,461 1,795,075
Heineken NV
 63,760 6,373,931
    10,379,430
Biotechnology — 0.0%
Pharming Group NV(b)
 44,455 71,663
Capital Markets — 0.5%
BinckBank NV
 57,945 300,656
Flow Traders(a)
 16,053 681,338
    981,994
Chemicals — 8.3%
Akzo Nobel NV
 83,039 7,279,549
Corbion NV
 27,601 864,748
Koninklijke DSM NV
 61,109 6,076,104
OCI NV(b)(c)
 35,133 962,522
    15,182,923
Construction & Engineering — 1.2%
Arcadis NV
 38,047 769,220
Boskalis Westminster(c)
 36,409 1,004,705
Koninklijke BAM Groep NV(c)
 87,236 407,322
Koninklijke Volkerwessels NV
 2,351 59,552
    2,240,799
Diversified Financial Services — 0.0%
SNS REAAL NV(c)(d)
 68,952 1
Diversified Telecommunication Services — 1.7%
Koninklijke KPN NV
 1,171,240 3,181,447
Electrical Equipment — 1.0%
Kendrion NV
 11,804 497,415
SIF Holding NV
 2,958 62,842
Signify NV(a)
 2,281 65,048
TKH Group NV
 17,975 1,206,477
    1,831,782
Energy Equipment & Services — 0.9%
Fugro NV(b)(c)
 35,938 566,121
SBM Offshore NV
 72,395 1,142,953
    1,709,074
Equity Real Estate Investment Trusts (REITs) — 1.4%
Eurocommercial Properties NV
 20,978 865,392
NSI NV
 12,359 504,933
Vastned Retail NV
 11,572 567,336
Wereldhave NV
 18,292 690,959
    2,628,620
Food & Staples Retailing — 4.5%
Koninklijke Ahold Delhaize NV
 360,535 8,271,433
Food Products — 0.5%
ForFarmers NV
 5,777 77,820
 Security   Shares Value
Food Products (continued)
Wessanen
    40,477 $     838,666
    916,486
Health Care Equipment & Supplies — 4.4%
Koninklijke Philips NV
   195,626   7,996,963
Hotels, Restaurants & Leisure — 0.1%
Basic-Fit NV(a)(b)
     3,970     127,903
Household Durables — 0.3%
TomTom NV(b)
    56,871     547,813
Insurance — 5.4%
Aegon NV
 613,231 3,812,480
ASR Nederland NV
 37,306 1,576,412
NN Group NV
 103,673 4,448,602
    9,837,494
Internet Software & Services — 0.0%
Takeaway.com NV(a)(b)
 1,386 80,813
IT Services — 1.0%
InterXion Holding NV(b)
 28,655 1,829,908
Leisure Products — 0.2%
Accell Group
 16,361 344,149
Machinery — 1.0%
Aalberts Industries NV
 38,858 1,898,725
Metals & Mining — 0.2%
AMG Advanced Metallurgical Group NV
 3,433 197,161
Constellium NV, Class A(b)
 7,332 89,084
    286,245
Oil, Gas & Consumable Fuels — 0.8%
Koninklijke Vopak NV
 28,523 1,398,385
Personal Products — 15.1%
Unilever NV
 495,555 27,615,739
Professional Services — 8.7%
Brunel International NV
 19,207 355,810
Intertrust NV(a)
 23,195 435,916
Randstad NV
 42,638 2,541,324
RELX NV
 320,575 6,990,189
Wolters Kluwer NV
 99,546 5,582,249
    15,905,488
Semiconductors & Semiconductor Equipment — 21.1%
ASM International NV
 19,882 1,156,467
ASML Holding NV
 125,672 24,557,060
BE Semiconductor Industries NV
 32,009 1,074,592
NXP Semiconductors NV(b)
 103,628 11,813,592
    38,601,711
Software — 1.0%
Gemalto NV(b)
 30,240 1,769,899
Trading Companies & Distributors — 2.3%
AerCap Holdings NV(b)
 50,687 2,803,498
IMCD NV
 21,259 1,316,469
    4,119,967
Total Common Stocks — 99.3%

(Cost: $168,284,293)
 181,599,754
 
 
159
  

iShares® MSCI Netherlands ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Short-Term Investments
Money Market Funds — 1.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(e)(f)(g)
 2,732,331 $   2,732,877
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(e)(f)
    93,122      93,122
    2,825,999
Total Short-Term Investments — 1.5%

(Cost: $2,825,922)
 2,825,999
Total Investments in Securities — 100.8%

(Cost: $171,110,215)
 184,425,753
Other Assets, Less Liabilities — (0.8)%
 (1,507,792)
Net Assets — 100.0%
 $ 182,917,961
(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b) Non-income producing security.
(c) All or a portion of this security is on loan.
(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(e) Affiliate of the Fund.
(f) Annualized 7-day yield as of period-end.
(g) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 1,224,613 1,507,718 2,732,331 $2,732,877   $23,573 (a)   $ (21)   $ (148)
BlackRock Cash Funds: Treasury, SL Agency Shares
 32,493 60,629 93,122 93,122   1,195   —   —
        $2,825,999   $24,768   $ (21)   $ (148)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
Euro STOXX 50
 32 06/15/18 $ 1,273 $ (10,090)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
  
160

iShares® MSCI Netherlands ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $181,599,753   $         —   $          1   $181,599,754
Money Market Funds
   2,825,999            —            —     2,825,999
  $184,425,752   $         —   $          1   $184,425,753
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $     (10,090)   $         —   $          —   $     (10,090)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
161
  

iShares® MSCI Pacific ex Japan ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Australia — 55.5%
AGL Energy Ltd.
    976,760 $    16,333,347
Alumina Ltd.
  3,642,871      7,387,094
Amcor Ltd./Australia
  1,729,204     18,396,135
AMP Ltd.
  4,362,094     12,872,256
APA Group
  1,750,554     11,510,398
Aristocrat Leisure Ltd.
    857,405     19,488,615
ASX Ltd.
    290,436     13,323,952
Aurizon Holdings Ltd.
 2,988,267 9,745,221
AusNet Services
 2,688,086 3,305,153
Australia & New Zealand Banking Group Ltd.
 4,363,002 89,827,434
Bank of Queensland Ltd.
 583,735 4,474,250
Bendigo & Adelaide Bank Ltd.
 722,518 5,882,419
BGP Holdings PLC(a)(b)
 27,004,595 315
BHP Billiton Ltd.
 4,790,292 118,849,797
BlueScope Steel Ltd.
 831,219 10,931,010
Boral Ltd.
 1,743,674 8,272,330
Brambles Ltd.
 2,373,699 16,218,416
Caltex Australia Ltd.
 390,341 8,689,242
Challenger Ltd./Australia
 826,408 8,060,138
CIMIC Group Ltd.
 146,099 4,556,698
Coca-Cola Amatil Ltd.
 768,206 5,161,616
Cochlear Ltd.
 85,661 12,713,540
Commonwealth Bank of Australia
 2,614,481 137,092,522
Computershare Ltd.
 690,951 9,065,492
Crown Resorts Ltd.
 560,550 5,641,064
CSL Ltd.
 674,937 94,911,938
Dexus
 1,511,473 11,310,758
Domino's Pizza Enterprises Ltd.(c)
 92,123 3,431,571
Flight Centre Travel Group Ltd.
 82,633 3,852,745
Fortescue Metals Group Ltd.
 2,321,225 8,237,305
Goodman Group
 2,439,794 17,242,295
GPT Group (The)
 2,658,043 10,116,378
Harvey Norman Holdings Ltd.
 836,255 2,277,909
Healthscope Ltd.
 2,607,997 4,637,351
Incitec Pivot Ltd.
 2,486,120 6,471,062
Insurance Australia Group Ltd.
 3,535,145 21,746,673
James Hardie Industries PLC
 659,357 11,060,668
LendLease Group
 870,111 12,364,179
Macquarie Group Ltd.
 482,686 41,756,102
Medibank Pvt Ltd.
 4,103,136 9,096,589
Mirvac Group
 5,493,470 9,560,259
National Australia Bank Ltd.
 4,055,293 82,234,125
Newcrest Mining Ltd.
 1,145,011 17,985,895
Oil Search Ltd.
 2,045,500 12,799,707
Orica Ltd.
 565,891 7,565,966
Origin Energy Ltd.(b)
 2,625,848 19,073,740
QBE Insurance Group Ltd.
 2,029,781 14,559,705
Ramsay Health Care Ltd.
 210,535 9,769,949
REA Group Ltd.
 78,089 5,070,173
Rio Tinto Ltd.
 615,204 38,622,046
Santos Ltd.(b)
 2,644,350 11,724,966
Scentre Group
 7,936,098 25,100,267
Seek Ltd.
 497,695 7,606,935
Sonic Healthcare Ltd.
 596,219 10,628,602
South32 Ltd.
 7,728,260 21,753,027
Stockland
 3,615,739 11,353,773
Suncorp Group Ltd.
 1,938,470 19,698,363
Sydney Airport
 1,642,313 9,046,537
 Security Shares Value
Australia (continued)
Tabcorp Holdings Ltd.
  2,856,653 $     9,445,696
Telstra Corp. Ltd.
  6,211,156     13,159,079
TPG Telecom Ltd.(c)
    547,123      2,305,872
Transurban Group
  3,320,712     29,824,761
Treasury Wine Estates Ltd.
  1,070,372     13,428,092
Vicinity Centres
  4,885,545      9,870,049
Wesfarmers Ltd.
  1,691,329     58,305,141
Westpac Banking Corp.
  5,077,553    106,997,765
Woodside Petroleum Ltd.
 1,343,721 32,952,106
Woolworths Group Ltd.
 1,947,803 41,944,495
    1,468,699,068
Hong Kong — 30.8%
AIA Group Ltd.
 18,009,614 165,306,911
ASM Pacific Technology Ltd.
 454,900 5,973,203
Bank of East Asia Ltd. (The)
 1,852,520 7,687,197
BOC Hong Kong Holdings Ltd.
 5,522,500 27,773,898
CK Asset Holdings Ltd.
 3,862,232 32,250,301
CK Hutchison Holdings Ltd.
 4,029,232 45,484,660
CK Infrastructure Holdings Ltd.
 986,708 7,446,710
CLP Holdings Ltd.
 2,447,500 25,710,115
Dairy Farm International Holdings Ltd.
 494,300 4,236,151
Galaxy Entertainment Group Ltd.
 3,540,000 31,161,694
Hang Lung Group Ltd.
 1,322,000 4,095,358
Hang Lung Properties Ltd.
 3,026,736 6,868,291
Hang Seng Bank Ltd.
 1,141,200 28,558,551
Henderson Land Development Co. Ltd.
 1,791,002 11,781,481
HK Electric Investments & HK Electric Investments Ltd.(c)(d)
 4,030,500 3,894,774
HKT Trust & HKT Ltd.
 5,636,338 7,077,622
Hong Kong & China Gas Co. Ltd.
 12,513,237 27,055,130
Hong Kong Exchanges & Clearing Ltd.
 1,743,000 56,395,326
Hongkong Land Holdings Ltd.
 1,757,500 12,759,450
Hysan Development Co. Ltd.
 925,830 5,352,574
Jardine Matheson Holdings Ltd.
 324,600 20,268,024
Jardine Strategic Holdings Ltd.
 333,000 11,921,400
Kerry Properties Ltd.
 970,500 5,190,170
Li & Fung Ltd.
 8,881,200 3,453,231
Link REIT
 3,256,586 28,812,181
Melco Resorts & Entertainment Ltd., ADR
 369,996 12,084,069
MGM China Holdings Ltd.(c)
 1,409,600 4,097,178
Minth Group Ltd.(c)
 1,110,000 5,108,393
MTR Corp. Ltd.
 2,240,786 12,612,036
New World Development Co. Ltd.
 9,036,921 13,870,786
NWS Holdings Ltd.
 2,309,000 4,297,649
PCCW Ltd.
 6,239,867 3,675,119
Power Assets Holdings Ltd.
 2,067,500 14,377,864
Sands China Ltd.
 3,626,000 21,702,887
Shangri-La Asia Ltd.
 1,875,000 3,748,016
Sino Land Co. Ltd.
 4,810,800 8,328,584
SJM Holdings Ltd.
 2,960,000 4,248,975
Sun Hung Kai Properties Ltd.
 2,372,000 38,282,695
Swire Pacific Ltd., Class A
 743,500 7,668,027
Swire Properties Ltd.
 1,732,400 6,791,214
Techtronic Industries Co. Ltd.
 2,053,207 12,315,342
WH Group Ltd.(d)
 13,115,000 13,459,170
Wharf Holdings Ltd. (The)
 1,825,600 5,899,806
Wharf Real Estate Investment Co. Ltd.
 1,810,600 13,976,254
Wheelock & Co. Ltd.
 1,214,000 9,146,612
Wynn Macau Ltd.
 2,316,000 8,887,082
 
 
  
162

iShares® MSCI Pacific ex Japan ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Hong Kong (continued)
Yue Yuen Industrial Holdings Ltd.
  1,110,000 $     3,431,538
    814,523,699
New Zealand — 1.7%
a2 Milk Co. Ltd.(b)
  1,089,148      8,306,862
Auckland International Airport Ltd.
  1,420,741      6,579,295
Fisher & Paykel Healthcare Corp. Ltd.
    855,316      7,969,759
Fletcher Building Ltd.
  1,277,701      5,907,928
Meridian Energy Ltd.
  1,891,071      3,960,707
Ryman Healthcare Ltd.
 593,862 4,750,189
Spark New Zealand Ltd.
 2,748,537 7,058,350
    44,533,090
Singapore — 11.1%
Ascendas REIT
 3,735,825 7,402,098
CapitaLand Commercial Trust
 3,754,093 4,799,805
CapitaLand Ltd.
 3,848,000 9,954,824
CapitaLand Mall Trust
 3,718,500 5,755,202
City Developments Ltd.
 610,500 5,116,980
ComfortDelGro Corp. Ltd.
 3,200,700 5,887,115
DBS Group Holdings Ltd.
 2,677,000 56,784,545
Genting Singapore PLC
 9,034,200 8,511,041
Golden Agri-Resources Ltd.
 9,766,087 2,300,136
Hutchison Port Holdings Trust
 333,300 91,658
Jardine Cycle & Carriage Ltd.
 148,000 3,802,221
Keppel Corp. Ltd.
 2,169,700 12,507,673
Oversea-Chinese Banking Corp. Ltd.(c)
 4,691,524 43,987,970
SATS Ltd.
 1,000,000 3,858,088
Sembcorp Industries Ltd.
 1,461,940 3,202,725
Singapore Airlines Ltd.
 812,400 6,851,749
Singapore Exchange Ltd.
 1,202,200 6,507,853
Singapore Press Holdings Ltd.(c)
 2,427,617 4,773,736
Singapore Technologies Engineering Ltd.
 2,316,900 6,028,496
Singapore Telecommunications Ltd.
 12,156,028 29,811,785
StarHub Ltd.
 12,500 18,038
Suntec REIT
 3,232,900 4,350,981
United Overseas Bank Ltd.
 1,994,600 41,966,462
 Security Shares Value
Singapore (continued)
UOL Group Ltd.
    749,100 $     4,547,977
Venture Corp. Ltd.
    406,100      6,406,752
Wilmar International Ltd.
  2,837,000      6,872,691
Yangzijiang Shipbuilding Holdings Ltd.
  3,588,900     2,589,471
    294,688,072
Total Common Stocks — 99.1%

(Cost: $2,581,320,714)
 2,622,443,929
Short-Term Investments
Money Market Funds — 0.7%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(e)(f)(g)
 16,040,941 16,044,149
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(e)(f)
 893,881 893,881
    16,938,030
Total Short-Term Investments — 0.7%

(Cost: $16,935,239)
 16,938,030
Total Investments in Securities — 99.8%

(Cost: $2,598,255,953)
 2,639,381,959
Other Assets, Less Liabilities — 0.2%
 6,500,970
Net Assets — 100.0%
 $ 2,645,882,929
    
(a) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(b) Non-income producing security.
(c) All or a portion of this security is on loan.
(d) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(e) Affiliate of the Fund.
(f) Annualized 7-day yield as of period-end.
(g) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 44,795,138 (28,754,197) 16,040,941 $16,044,149   $378,713 (a)   $ (8,451)   $ (1,663)
BlackRock Cash Funds: Treasury, SL Agency Shares
 800,222 93,659 893,881 893,881   22,104   —   —
        $16,938,030   $400,817   $ (8,451)   $ (1,663)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
163
  

iShares® MSCI Pacific ex Japan ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
ASX SPI 200 Index
 129 06/21/18 $ 14,680 $ 33,475
Hang Seng Index
 26 06/28/18 5,054 84,240
MSCI Singapore Index
 125 06/28/18 3,659 (15,897)
        $ 101,818
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $2,622,443,614   $           —   $          315   $2,622,443,929
Money Market Funds
    16,938,030              —              —      16,938,030
  $2,639,381,644   $           —   $          315   $2,639,381,959
Derivative financial instruments(a)              
Assets              
Futures Contracts
 $       117,715   $           —   $            —   $       117,715
Liabilities              
Futures Contracts
 (15,897)   —   —   (15,897)
  $ 101,818   $ —   $ —   $ 101,818
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
  
164

iShares® MSCI Russia ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Banks — 19.4%
Sberbank of Russia PJSC
     17,691,520 $  63,116,383
Sberbank of Russia PJSC, ADR
      1,418,771   20,401,927
VTB Bank PJSC
 10,586,456,000    8,473,921
VTB Bank PJSC, GDR, NVS(a)
         80,322     127,471
    92,119,702
Capital Markets — 2.3%
Moscow Exchange MICEX-RTS PJSC
      6,000,220  10,838,952
Chemicals — 1.7%
PhosAgro PJSC, GDR, NVS(a)
 611,570 8,133,881
Electric Utilities — 3.8%
Inter RAO UES PJSC
 153,945,000 10,077,343
RusHydro PJSC
 680,183,000 7,899,956
    17,977,299
Food & Staples Retailing — 5.9%
Magnit PJSC, GDR, NVS(a)
 1,063,182 21,380,590
X5 Retail Group NV, GDR(a)
 226,975 6,584,105
    27,964,695
Metals & Mining — 16.7%
Alrosa PJSC
 9,956,349 14,105,260
Magnitogorsk Iron & Steel Works PJSC
 11,694,200 9,210,514
MMC Norilsk Nickel PJSC
 123,333 21,986,330
Novolipetsk Steel PJSC
 4,974,865 13,022,329
Polyus PJSC
 132,034 7,943,965
Severstal PJSC
 823,455 13,248,737
    79,517,135
Oil, Gas & Consumable Fuels — 42.6%
Gazprom PJSC, ADR, NVS
 836,543 3,799,578
Gazprom PJSC
 23,350,280 54,322,580
LUKOIL PJSC
 982,980 66,381,017
LUKOIL PJSC, ADR, NVS
 32,321 2,157,103
Novatek PJSC, GDR, NVS(a)
 160,248 23,091,737
Rosneft Oil Co. PJSC, GDR, NVS(a)
 1,840,909 11,229,545
Rosneft Oil Co. PJSC
 1,363,360 8,428,103
 Security   Shares Value
Oil, Gas & Consumable Fuels (continued)
Surgutneftegas OJSC, ADR, NVS
        344,941 $   1,534,988
Surgutneftegas OJSC
     19,838,646    9,112,838
Tatneft PJSC
      2,066,946  22,102,916
    202,160,405
Wireless Telecommunication Services — 3.5%
Mobile TeleSystems PJSC, ADR, NVS
      1,735,740  16,628,389
Total Common Stocks — 95.9%

(Cost: $460,529,627)
 455,340,458
Preferred Stocks
Oil, Gas & Consumable Fuels — 3.3%
Surgutneftegas OJSC, Preference Shares, NVS
 22,392,549 10,950,622
Transneft PJSC, Preference Shares
 1,779 4,869,398
    15,820,020
Total Preferred Stocks — 3.3%

(Cost: $16,974,667)
 15,820,020
Short-Term Investments
Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(b)(c)
 548,175 548,175
Total Short-Term Investments — 0.1%

(Cost: $548,175)
 548,175
Total Investments in Securities — 99.3%

(Cost: $478,052,469)
 471,708,653
Other Assets, Less Liabilities — 0.7%
 3,138,496
Net Assets — 100.0%
 $ 474,847,149
    
(a) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(b) Affiliate of the Fund.
(c) Annualized 7-day yield as of period-end.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Treasury, SL Agency Shares
 1,026,049 (477,874) 548,175 $548,175   $19,485   $ —   $ —
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
165
  

iShares® MSCI Russia ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements (continued)
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $455,340,458   $         —   $         —   $455,340,458
Preferred Stocks
  15,820,020            —            —     15,820,020
Money Market Funds
     548,175            —            —       548,175
  $471,708,653   $         —   $         —   $471,708,653
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
GDR
 Global Depositary Receipt
NVS
 Non-Voting Shares
  
166

iShares® MSCI Singapore ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 2.7%
Singapore Technologies Engineering Ltd.
  7,958,300 $  20,707,229
Airlines — 2.9%
Singapore Airlines Ltd.
  2,684,867  22,644,061
Banks — 44.7%
DBS Group Holdings Ltd.
  6,536,400 138,650,169
Oversea-Chinese Banking Corp. Ltd.(a)
 11,359,850 106,510,538
United Overseas Bank Ltd.
  4,812,700 101,259,395
    346,420,102
Capital Markets — 2.7%
Singapore Exchange Ltd.
 3,939,600 21,326,183
Distributors — 1.8%
Jardine Cycle & Carriage Ltd.
 535,044 13,745,644
Diversified Telecommunication Services — 4.6%
Singapore Telecommunications Ltd.
 14,466,668 35,478,464
Electronic Equipment, Instruments & Components — 2.7%
Venture Corp. Ltd.
 1,306,800 20,616,457
Equity Real Estate Investment Trusts (REITs) — 9.2%
Ascendas REIT
 12,183,881 24,140,928
CapitaLand Commercial Trust
 8,350,283 10,676,275
CapitaLand Mall Trust(a)
 12,510,400 19,362,614
Suntec REIT
 12,836,700 17,276,205
    71,456,022
Food Products — 4.1%
Golden Agri-Resources Ltd.
 42,895,828 10,102,947
Wilmar International Ltd.
 8,997,600 21,796,870
    31,899,817
Hotels, Restaurants & Leisure — 3.5%
Genting Singapore PLC
 28,602,500 26,946,166
Industrial Conglomerates — 5.9%
Keppel Corp. Ltd.
 5,844,900 33,694,104
Sembcorp Industries Ltd.
 5,703,600 12,495,082
    46,189,186
Machinery — 1.3%
Yangzijiang Shipbuilding Holdings Ltd.
 14,052,400 10,139,120
 Security   Shares Value
Media — 1.6%
Singapore Press Holdings Ltd.(a)
  6,178,700 $  12,149,973
Real Estate Management & Development — 7.4%
CapitaLand Ltd.
  9,503,600   24,585,933
City Developments Ltd.
  2,078,700   17,422,877
UOL Group Ltd.
  2,587,200  15,707,551
    57,716,361
Road & Rail — 2.7%
ComfortDelGro Corp. Ltd.
 11,293,500  20,772,373
Transportation Infrastructure — 1.9%
Hutchison Port Holdings Trust
 1,327,600 365,090
SATS Ltd.(a)
 3,769,600 14,543,449
    14,908,539
Wireless Telecommunication Services — 0.0%
StarHub Ltd.
 60,800 87,737
Total Common Stocks — 99.7%

(Cost: $748,312,321)
 773,203,434
Short-Term Investments
Money Market Funds — 1.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(b)(c)(d)
 8,767,450 8,769,203
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(b)(c)
 2,903,945 2,903,945
    11,673,148
Total Short-Term Investments — 1.5%

(Cost: $11,671,395)
 11,673,148
Total Investments in Securities — 101.2%

(Cost: $759,983,716)
 784,876,582
Other Assets, Less Liabilities — (1.2)%
 (9,272,587)
Net Assets — 100.0%
 $ 775,603,995
    
(a) All or a portion of this security is on loan.
(b) Affiliate of the Fund.
(c) Annualized 7-day yield as of period-end.
(d) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 17,309,109 (8,541,659) 8,767,450 $ 8,769,203   $61,725 (a)   $ 2,841   $ (2,423)
BlackRock Cash Funds: Treasury, SL Agency Shares
 226,142 2,677,803 2,903,945 2,903,945   8,746   —   —
        $11,673,148   $70,471   $ 2,841   $ (2,423)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
167
  

iShares® MSCI Singapore ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI Singapore Index
 249 06/28/18 $ 7,289 $ (170,175)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $773,203,434   $         —   $         —   $773,203,434
Money Market Funds
  11,673,148            —            —    11,673,148
  $784,876,582   $         —   $         —   $784,876,582
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $    (170,175)   $         —   $         —   $    (170,175)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
  
168

iShares® MSCI South Africa ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Banks — 11.8%
Barclays Africa Group Ltd.
   937,616 $  11,969,503
Capitec Bank Holdings Ltd.
    63,764    4,402,510
Nedbank Group Ltd.
   320,621    6,926,325
Standard Bank Group Ltd.
 1,689,721  27,670,599
    50,968,937
Capital Markets — 1.8%
Coronation Fund Managers Ltd.
   427,431    2,109,650
Investec Ltd.
 462,479 3,364,247
Reinet Investments SCA(a)
 114,250 2,150,588
    7,624,485
Chemicals — 6.0%
Sasol Ltd.
 722,838 26,111,203
Distributors — 0.9%
Imperial Holdings Ltd.
 233,993 3,771,232
Diversified Financial Services — 9.8%
FirstRand Ltd.
 4,409,409 20,889,423
PSG Group Ltd.
 239,378 4,116,205
Remgro Ltd.
 717,624 11,559,044
RMB Holdings Ltd.
 1,018,818 5,842,618
    42,407,290
Diversified Telecommunication Services — 0.5%
Telkom SA SOC Ltd.
 545,027 2,230,888
Equity Real Estate Investment Trusts (REITs) — 5.9%
Fortress REIT Ltd., Series A
 2,041,228 2,694,776
Fortress REIT Ltd., Series B
 1,501,751 1,754,908
Growthpoint Properties Ltd.
 4,266,017 9,161,916
Hyprop Investments Ltd.
 412,827 3,373,675
Redefine Properties Ltd.
 7,375,866 6,388,729
Resilient REIT Ltd.
 462,456 2,087,168
    25,461,172
Food & Staples Retailing — 7.5%
Bid Corp. Ltd.
 464,580 9,314,343
Clicks Group Ltd.
 238,916 3,810,394
Pick n Pay Stores Ltd.
 616,371 3,659,779
Shoprite Holdings Ltd.
 605,897 11,197,971
SPAR Group Ltd. (The)
 294,781 4,486,304
    32,468,791
Food Products — 1.9%
Pioneer Foods Group Ltd.
 251,926 2,138,337
Tiger Brands Ltd.
 232,547 6,167,591
    8,305,928
Health Care Providers & Services — 2.0%
Life Healthcare Group Holdings Ltd.
 2,064,842 4,646,506
Netcare Ltd.
 1,719,012 4,018,945
    8,665,451
Household Durables — 0.0%
Steinhoff International Holdings NV, Class H(a)
 2,039,550 180,363
Industrial Conglomerates — 1.8%
Bidvest Group Ltd. (The)
 474,110 7,561,802
Insurance — 6.0%
Discovery Ltd.
 511,723 6,228,354
Liberty Holdings Ltd.
 249,069 2,388,820
 Security   Shares Value
Insurance (continued)
MMI Holdings Ltd./South Africa
 1,696,581 $   2,505,019
Rand Merchant Investment Holdings Ltd.
 1,109,934    3,365,295
Sanlam Ltd.
 1,936,838  11,630,204
    26,117,692
Media — 21.7%
Naspers Ltd., Class N
   394,274  94,202,379
Metals & Mining — 3.4%
Anglo American Platinum Ltd.
    99,084    2,628,601
AngloGold Ashanti Ltd.
 608,957 5,191,881
Gold Fields Ltd.
 1,256,854 4,483,590
Kumba Iron Ore Ltd.
 114,359 2,620,099
    14,924,171
Multiline Retail — 1.5%
Woolworths Holdings Ltd./South Africa
 1,424,189 6,560,378
Oil, Gas & Consumable Fuels — 0.9%
Exxaro Resources Ltd.
 384,481 3,805,345
Paper & Forest Products — 2.5%
Mondi Ltd.
 186,282 5,158,533
Sappi Ltd.
 830,640 5,458,679
    10,617,212
Pharmaceuticals — 2.4%
Aspen Pharmacare Holdings Ltd.
 528,206 10,426,490
Real Estate Management & Development — 1.2%
NEPI Rockcastle PLC
 548,208 5,367,374
Specialty Retail — 3.7%
Foschini Group Ltd. (The)
 335,905 4,886,470
Mr. Price Group Ltd.
 346,311 6,863,329
Truworths International Ltd.
 664,216 4,409,576
    16,159,375
Wireless Telecommunication Services — 6.8%
MTN Group Ltd.
 2,224,202 20,108,261
Vodacom Group Ltd.
 831,579 9,422,155
    29,530,416
Total Common Stocks — 100.0%

(Cost: $500,527,757)
 433,468,374
Short-Term Investments
Money Market Funds — 0.0%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(b)(c)
 174,608 174,608
Total Short-Term Investments — 0.0%

(Cost: $174,608)
 174,608
Total Investments in Securities — 100.0%

(Cost: $500,702,365)
 433,642,982
Other Assets, Less Liabilities — 0.0%
 4,363
Net Assets — 100.0%
 $ 433,647,345
    
(a) Non-income producing security.
(b) Affiliate of the Fund.
(c) Annualized 7-day yield as of period-end.
 
 
169
  

iShares® MSCI South Africa ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 — 0 (a) — $ —   $24,910 (b)   $ (1,147)   $ —
BlackRock Cash Funds: Treasury, SL Agency Shares
 225,602 (50,994) 174,608 174,608   2,565   —   —
        $174,608   $27,475   $ (1,147)   $ —
    
(a) Net of purchases and sales.
(b) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $433,468,374   $         —   $         —   $433,468,374
Money Market Funds
     174,608            —            —       174,608
  $433,642,982   $         —   $         —   $433,642,982
  
170

iShares® MSCI South Korea ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 0.4%
Korea Aerospace Industries Ltd.(a)(b)
     420,365 $    17,158,551
Air Freight & Logistics — 0.4%
Hyundai Glovis Co. Ltd.
     119,658    14,930,193
Airlines — 0.3%
Korean Air Lines Co. Ltd.
     345,427    10,238,316
Auto Components — 2.5%
Hankook Tire Co. Ltd.
     446,519     17,749,746
Hanon Systems
 1,270,674 11,905,754
Hyundai Mobis Co. Ltd.
 365,119 73,840,106
    103,495,606
Automobiles — 3.5%
Hyundai Motor Co.
 814,214 104,991,647
Kia Motors Corp.
 1,451,890 41,955,910
    146,947,557
Banks — 8.1%
BNK Financial Group Inc.
 1,645,872 14,550,916
DGB Financial Group Inc.
 1,172,081 11,253,804
Hana Financial Group Inc.
 1,587,780 61,275,243
Industrial Bank of Korea
 1,489,793 21,560,157
KB Financial Group Inc.
 2,094,220 100,636,018
Shinhan Financial Group Co. Ltd.
 2,264,251 91,897,566
Woori Bank
 2,603,779 36,957,019
    338,130,723
Biotechnology — 4.0%
Celltrion Inc.(a)(b)
 429,103 105,688,433
Medy-Tox Inc.
 26,992 18,870,236
SillaJen Inc.(a)(b)
 302,756 22,609,451
ViroMed Co. Ltd.(a)
 81,478 20,030,308
    167,198,428
Building Products — 0.3%
KCC Corp.
 39,034 12,474,802
Capital Markets — 1.7%
Korea Investment Holdings Co. Ltd.
 246,926 21,509,672
Mirae Asset Daewoo Co. Ltd.
 2,371,912 20,683,680
NH Investment & Securities Co. Ltd.
 949,981 13,968,365
Samsung Securities Co. Ltd.
 425,063 14,550,605
    70,712,322
Chemicals — 4.1%
Hanwha Chemical Corp.
 668,238 16,024,818
Hyosung Corp.
 133,009 16,534,353
Kumho Petrochemical Co. Ltd.
 130,441 12,705,881
LG Chem Ltd.
 244,741 76,854,055
Lotte Chemical Corp.
 95,756 32,734,437
OCI Co. Ltd.(b)
 113,988 14,011,234
    168,864,778
Commercial Services & Supplies — 0.4%
KEPCO Plant Service & Engineering Co. Ltd.
 195,333 7,329,858
S-1 Corp.
 123,018 10,088,400
    17,418,258
Construction & Engineering — 2.6%
Daelim Industrial Co. Ltd.
 184,296 14,361,393
Daewoo Engineering & Construction Co. Ltd.(a)
 1,393,466 8,337,915
GS Engineering & Construction Corp.(b)
 364,231 16,573,617
Hyundai Development Co. Engineering & Construction
 393,399 16,933,730
 Security   Shares Value
Construction & Engineering (continued)
Hyundai Engineering & Construction Co. Ltd.
     483,816 $    33,123,634
Samsung Engineering Co. Ltd.(a)
     974,613    16,681,302
    106,011,591
Consumer Finance — 0.2%
Samsung Card Co. Ltd.
     236,882     8,152,811
Diversified Telecommunication Services — 0.1%
KT Corp.
     205,716     5,152,681
Electric Utilities — 1.0%
Korea Electric Power Corp.
 1,412,357 43,433,958
Electrical Equipment — 0.2%
Doosan Heavy Industries & Construction Co. Ltd.(a)(b)
 503,672 8,924,473
Electronic Equipment, Instruments & Components — 3.3%
LG Display Co. Ltd.(b)
 1,327,709 27,343,699
LG Innotek Co. Ltd.(b)
 97,844 13,070,677
Samsung Electro-Mechanics Co. Ltd.
 321,906 40,016,145
Samsung SDI Co. Ltd.
 301,146 56,013,519
    136,444,040
Food & Staples Retailing — 1.3%
BGF retail Co. Ltd.
 57,438 9,724,417
Dongsuh Cos. Inc.
 305,001 7,342,433
E-MART Inc.
 118,515 27,486,201
GS Retail Co. Ltd.(b)
 227,926 7,982,009
    52,535,060
Food Products — 1.0%
CJ CheilJedang Corp.
 51,807 16,845,265
Orion Corp./Republic of Korea
 140,497 16,878,669
Ottogi Corp.(b)
 10,526 7,909,514
    41,633,448
Gas Utilities — 0.3%
Korea Gas Corp.(a)
 211,566 11,834,899
Health Care Providers & Services — 0.5%
Celltrion Healthcare Co. Ltd.(a)(b)
 207,840 19,242,481
Hotels, Restaurants & Leisure — 0.4%
Kangwon Land Inc.
 716,878 17,856,277
Household Durables — 2.0%
Coway Co. Ltd.
 305,851 24,769,973
Hanssem Co. Ltd.(b)
 83,962 8,801,620
LG Electronics Inc.
 579,784 49,805,648
    83,377,241
Industrial Conglomerates — 3.9%
CJ Corp.
 95,419 13,100,804
Hanwha Corp.
 307,557 10,271,397
LG Corp.
 526,610 35,858,040
Lotte Corp.(a)
 207,541 11,282,437
Samsung C&T Corp.
 415,320 48,353,504
SK Holdings Co. Ltd.
 174,349 44,802,331
    163,668,513
Insurance — 3.0%
DB Insurance Co. Ltd.
 306,301 16,622,857
Hanwha Life Insurance Co. Ltd.
 2,117,078 10,939,398
Hyundai Marine & Fire Insurance Co. Ltd.
 411,246 12,990,330
ING Life Insurance Korea Ltd.(c)
 248,678 9,273,951
Samsung Fire & Marine Insurance Co. Ltd.
 169,550 39,400,970
 
 
171
  

iShares® MSCI South Korea ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Insurance (continued)
Samsung Life Insurance Co. Ltd.
     386,491 $    36,929,888
    126,157,394
Internet Software & Services — 2.8%
Kakao Corp.(b)
     261,377     25,096,266
NAVER Corp.
     148,116    91,924,119
    117,020,385
IT Services — 0.9%
Samsung SDS Co. Ltd.(b)
     192,642    37,708,114
Leisure Products — 0.6%
HLB Inc.(a)
 182,032 23,303,879
Life Sciences Tools & Services — 0.9%
Samsung Biologics Co. Ltd.(a)(b)(c)
 92,408 37,290,672
Machinery — 1.7%
Doosan Bobcat Inc.
 275,978 8,679,117
Hyundai Heavy Industries Co. Ltd.(a)
 214,278 22,760,639
Hyundai Heavy Industries Holdings Co. Ltd.(a)
 58,119 20,919,497
Samsung Heavy Industries Co. Ltd.(a)(b)
 2,429,919 16,883,987
    69,243,240
Marine — 0.2%
Pan Ocean Co. Ltd.(a)(b)
 1,867,512 8,766,279
Media — 0.5%
Cheil Worldwide Inc.
 520,351 9,557,910
CJ E&M Corp.
 134,677 11,319,390
    20,877,300
Metals & Mining — 4.2%
Hyundai Steel Co.
 469,624 26,924,035
Korea Zinc Co. Ltd.
 50,747 19,089,854
POSCO
 406,177 127,925,313
    173,939,202
Multiline Retail — 1.1%
Hyundai Department Store Co. Ltd.
 107,351 11,203,662
Lotte Shopping Co. Ltd.(b)
 72,971 15,163,509
Shinsegae Inc.
 47,845 19,485,092
    45,852,263
Oil, Gas & Consumable Fuels — 2.6%
GS Holdings Corp.
 315,091 17,041,426
SK Innovation Co. Ltd.
 349,848 66,857,171
S-Oil Corp.
 259,550 25,883,970
    109,782,567
Personal Products — 3.3%
Amorepacific Corp.
 176,446 54,425,803
AMOREPACIFIC Group
 172,107 20,117,336
LG Household & Health Care Ltd.
 51,215 63,807,918
    138,351,057
Pharmaceuticals — 1.1%
Celltrion Pharm Inc.(a)
 113,549 9,817,493
Hanmi Pharm Co. Ltd.(b)
 38,870 17,416,587
Hanmi Science Co. Ltd.(b)
 109,581 7,217,637
Yuhan Corp.
 59,281 13,088,620
    47,540,337
Road & Rail — 0.2%
CJ Logistics Corp.(a)(b)
 63,727 8,838,245
Semiconductors & Semiconductor Equipment — 6.3%
SK Hynix Inc.
 3,040,355 263,434,442
 Security   Shares Value
Software — 1.5%
NCSoft Corp.
      98,430 $    32,233,211
Netmarble Corp.(b)(c)
     151,312     22,038,113
Pearl Abyss Corp.(a)
      42,543     8,824,728
    63,096,052
Specialty Retail — 0.6%
Hotel Shilla Co. Ltd.
     200,422    23,055,177
Technology Hardware, Storage & Peripherals — 22.0%
Samsung Electronics Co. Ltd.
  19,487,064   916,549,139
Tobacco — 1.4%
KT&G Corp.
 631,943 56,279,538
Trading Companies & Distributors — 0.2%
Posco Daewoo Corp.
 395,021 8,391,837
Wireless Telecommunication Services — 0.6%
SK Telecom Co. Ltd.
 117,317 24,161,022
Total Common Stocks — 98.2%

(Cost: $1,792,129,721)
 4,085,475,148
Preferred Stocks
Automobiles — 0.8%
Hyundai Motor Co.    
Preference Shares, NVS
 158,508 13,145,893
Series 2, Preference Shares, NVS(b)
 225,376 19,757,904
    32,903,797
Chemicals — 0.2%
LG Chem Ltd., Preference Shares, NVS
 54,845 9,997,720
Personal Products — 0.5%
Amorepacific Corp., Preference Shares, NVS
 66,370 10,005,218
LG Household & Health Care Ltd., Preference Shares, NVS
 15,987 10,871,071
    20,876,289
Technology Hardware, Storage & Peripherals — 0.1%
Samsung Electronics Co. Ltd., Preference Shares, NVS
 103,071 3,872,513
Total Preferred Stocks — 1.6%

(Cost: $40,664,724)
 67,650,319
Short-Term Investments
Money Market Funds — 6.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 245,750,527 245,799,677
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
 14,430,981 14,430,981
    260,230,658
Total Short-Term Investments — 6.2%

(Cost: $260,190,286)
 260,230,658
Total Investments in Securities — 106.0%

(Cost: $2,092,984,731)
 4,413,356,125
Other Assets, Less Liabilities — (6.0)%
 (250,882,226)
Net Assets — 100.0%
 $ 4,162,473,899
    
(a) Non-income producing security.
 
 
  
172

iShares® MSCI South Korea ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
(b) All or a portion of this security is on loan.
(c) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 140,876,705 104,873,822 245,750,527 $245,799,677   $3,932,891 (a)   $ (31,913)   $ 20,531
BlackRock Cash Funds: Treasury, SL Agency Shares
 4,974,415 9,456,566 14,430,981 14,430,981   101,088   —   —
        $260,230,658   $4,033,979   $ (31,913)   $ 20,531
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
KOSPI 200 Index
 159 06/14/18 $ 11,442 $ (234,474)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $4,052,007,065   $   33,468,083   $           —   $4,085,475,148
Preferred Stocks
    67,650,319              —              —       67,650,319
Money Market Funds
   260,230,658              —              —     260,230,658
  $4,379,888,042   $   33,468,083   $           —   $4,413,356,125
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $      (234,474)   $            —   $           —   $      (234,474)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
173
  

iShares® MSCI Spain ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Airlines — 2.3%
International Consolidated Airlines Group SA
  2,550,016 $    23,122,485
Banks — 39.7%
Banco Bilbao Vizcaya Argentaria SA
 13,573,090     92,512,324
Banco de Sabadell SA
 18,392,540     30,873,295
Banco Santander SA
 35,369,731    189,920,557
Bankia SA
  5,260,412     19,931,990
Bankinter SA
  2,555,420     24,591,366
CaixaBank SA
 10,391,519 44,104,743
    401,934,275
Biotechnology — 3.0%
Grifols SA
 1,032,327 30,366,883
Construction & Engineering — 6.6%
ACS Actividades de Construccion y Servicios SA
 830,682 34,432,445
Ferrovial SA
 1,609,630 32,749,587
    67,182,032
Diversified Telecommunication Services — 8.1%
Telefonica SA
 9,328,807 82,183,161
Electric Utilities — 13.6%
Endesa SA
 1,190,100 26,179,539
Iberdrola SA
 11,595,845 82,189,540
Red Electrica Corp. SA
 1,512,916 29,404,340
    137,773,419
Electrical Equipment — 1.8%
Siemens Gamesa Renewable Energy SA
 1,176,815 18,070,969
Gas Utilities — 3.0%
Gas Natural SDG SA
 1,252,691 30,692,960
Insurance — 1.6%
Mapfre SA
 5,490,138 16,611,186
IT Services — 4.7%
Amadeus IT Group SA
 605,157 47,964,533
Oil, Gas & Consumable Fuels — 6.9%
Enagas SA
 745,443 19,848,245
 Security   Shares Value
Oil, Gas & Consumable Fuels (continued)
Repsol SA
  2,623,317 $    49,929,126
    69,777,371
Specialty Retail — 4.5%
Industria de Diseno Textil SA
  1,437,644    45,327,141
Transportation Infrastructure — 4.0%
Aena SME SA(a)
    210,462    40,363,948
Total Common Stocks — 99.8%

(Cost: $1,231,479,524)
 1,011,370,363
Rights
Construction & Engineering — 0.0%
Ferrovial SA, NVS (Expires 06/05/18)(b)
 1,516,426 552,279
Total Rights — 0.0%

(Cost: $548,968)
 552,279
Short-Term Investments
Money Market Funds — 0.0%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(c)(d)
 98,293 98,293
Total Short-Term Investments — 0.0%

(Cost: $98,293)
 98,293
Total Investments in Securities — 99.8%

(Cost: $1,232,126,785)
 1,012,020,935
Other Assets, Less Liabilities — 0.2%
 1,719,636
Net Assets — 100.0%
 $ 1,013,740,571
    
(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b) Non-income producing security.
(c) Affiliate of the Fund.
(d) Annualized 7-day yield as of period-end.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 10,256,664 (10,256,664) — $ —   $60,233 (a)   $ (2,698)   $ —
BlackRock Cash Funds: Treasury, SL Agency Shares
 1,301,695 (1,203,402) 98,293 98,293   6,804   —   —
        $ 98,293   $67,037   $ (2,698)   $ —
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
  
174

iShares® MSCI Spain ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
IBEX 35 Index
 13 06/15/18 $ 1,434 $ (90,339)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $ 1,011,370,363   $           —   $           —   $ 1,011,370,363
Rights
       552,279              —              —          552,279
Money Market Funds
        98,293              —              —          98,293
  $1,012,020,935   $           —   $           —   $1,012,020,935
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $       (90,339)   $           —   $           —   $       (90,339)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
175
  

iShares® MSCI Sweden ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Banks — 20.5%
Nordea Bank AB
  2,091,616 $  20,083,227
Skandinaviska Enskilda Banken AB, Class A
  1,088,973    9,795,171
Svenska Handelsbanken AB, Class A
  1,047,159   11,460,805
Swedbank AB, Class A
    620,944  12,887,557
    54,226,760
Building Products — 5.5%
Assa Abloy AB, Class B
    680,105  14,600,577
Commercial Services & Supplies — 1.5%
Securitas AB, Class B
 252,463 4,062,071
Communications Equipment — 5.7%
Telefonaktiebolaget LM Ericsson, Class B
 2,087,828 15,120,246
Construction & Engineering — 1.8%
Skanska AB, Class B
 258,259 4,747,483
Diversified Financial Services — 8.4%
Industrivarden AB, Class C
 140,082 2,937,508
Investor AB, Class B
 283,011 11,715,618
Kinnevik AB, Class B
 165,865 5,769,413
L E Lundbergforetagen AB, Class B
 53,211 1,715,920
    22,138,459
Diversified Telecommunication Services — 3.7%
Telia Co. AB
 2,094,184 9,802,594
Electronic Equipment, Instruments & Components — 4.1%
Hexagon AB, Class B
 191,754 10,784,358
Food & Staples Retailing — 0.8%
ICA Gruppen AB
 70,306 2,166,091
Household Durables — 3.0%
Electrolux AB, Series B
 183,710 4,526,342
Husqvarna AB, Class B
 348,877 3,424,104
    7,950,446
Household Products — 3.9%
Essity AB, Class B
 406,578 10,312,111
Machinery — 26.1%
Alfa Laval AB
 229,273 5,716,444
Atlas Copco AB, Class A
 460,963 18,267,950
Atlas Copco AB, Class B
 265,806 9,600,882
Sandvik AB
 666,740 11,550,576
 Security   Shares Value
Machinery (continued)
SKF AB, Class B
    291,127 $   5,645,062
Volvo AB, Class B
  1,070,917  18,400,948
    69,181,862
Metals & Mining — 2.8%
Boliden AB
    206,970   7,284,739
Oil, Gas & Consumable Fuels — 1.9%
Lundin Petroleum AB
    155,577   4,925,363
Specialty Retail — 3.7%
Hennes & Mauritz AB, Class B(a)
 651,812 9,807,034
Tobacco — 2.6%
Swedish Match AB
 142,642 6,751,175
Wireless Telecommunication Services — 2.3%
Millicom International Cellular SA, SDR
 47,240 2,973,996
Tele2 AB, Class B
 258,000 3,152,077
    6,126,073
Total Common Stocks — 98.3%

(Cost: $319,109,275)
 259,987,442
Short-Term Investments
Money Market Funds — 4.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(b)(c)(d)
 10,616,050 10,618,173
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(b)(c)
 23,353 23,353
    10,641,526
Total Short-Term Investments — 4.0%

(Cost: $10,641,526)
 10,641,526
Total Investments in Securities — 102.3%

(Cost: $329,750,801)
 270,628,968
Other Assets, Less Liabilities — (2.3)%
 (5,972,204)
Net Assets — 100.0%
 $ 264,656,764
    
(a) All or a portion of this security is on loan.
(b) Affiliate of the Fund.
(c) Annualized 7-day yield as of period-end.
(d) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 3,689,579 6,926,471 10,616,050 $10,618,173   $ 3,710(a)   $ (344)   $ 266
BlackRock Cash Funds: Treasury, SL Agency Shares
 5,596 17,757 23,353 23,353   3,752   —   —
        $10,641,526   $ 7,462   $ (344)   $ 266
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
  
176

iShares® MSCI Sweden ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
OMXS 30 Index
 235 06/15/18 $ 4,107 $ (143,121)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $259,987,442   $         —   $         —   $259,987,442
Money Market Funds
  10,641,526            —            —    10,641,526
  $270,628,968   $         —   $         —   $270,628,968
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $    (143,121)   $         —   $         —   $    (143,121)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
SDR
 Swedish Depositary Receipt
177
  

iShares® MSCI Switzerland ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Building Products — 1.6%
Geberit AG, Registered
    35,201 $  15,246,247
Capital Markets — 10.6%
Credit Suisse Group AG, Registered
 2,163,829   33,059,416
Julius Baer Group Ltd.
   217,754   12,736,095
Partners Group Holding AG
    17,045   12,344,665
UBS Group AG, Registered
 2,668,118  40,302,667
    98,442,843
Chemicals — 4.8%
Clariant AG, Registered
 117,801 2,849,464
EMS-Chemie Holding AG, Registered
 9,811 6,152,458
Givaudan SA, Registered
 8,540 19,067,541
Sika AG, Bearer(a)
 2,030 16,250,738
    44,320,201
Construction Materials — 2.3%
LafargeHolcim Ltd., Registered
 421,861 21,644,460
Diversified Financial Services — 0.5%
Pargesa Holding SA, Bearer
 53,935 4,726,376
Diversified Telecommunication Services — 1.3%
Swisscom AG, Registered
 25,997 11,624,739
Electrical Equipment — 3.9%
ABB Ltd., Registered
 1,616,734 36,656,496
Food Products — 21.7%
Barry Callebaut AG, Registered
 2,905 5,091,359
Chocoladefabriken Lindt & Spruengli AG, NVS
 1,173 7,522,902
Chocoladefabriken Lindt & Spruengli AG, Registered
 111 8,411,657
Nestle SA, Registered
 2,399,208 181,520,793
    202,546,711
Health Care Equipment & Supplies — 1.9%
Sonova Holding AG, Registered
 57,116 9,992,831
Straumann Holding AG, Registered
 11,428 7,550,082
    17,542,913
Insurance — 8.9%
Baloise Holding AG, Registered
 53,166 7,819,961
Swiss Life Holding AG, Registered
 33,714 11,522,637
Swiss Re AG
 283,218 24,539,222
Zurich Insurance Group AG
 132,288 39,319,045
    83,200,865
Life Sciences Tools & Services — 2.0%
Lonza Group AG, Registered
 69,090 18,532,228
Machinery — 1.6%
Schindler Holding AG, NVS
 42,937 9,093,158
Schindler Holding AG, Registered
 25,985 5,344,489
    14,437,647
 Security   Shares Value
Marine — 0.9%
Kuehne + Nagel International AG, Registered
    57,472 $   8,687,152
Pharmaceuticals — 26.0%
Novartis AG, Registered
 1,658,306 123,069,887
Roche Holding AG, NVS
   517,831 111,166,954
Vifor Pharma AG
    50,421   7,844,463
    242,081,304
Professional Services — 2.5%
Adecco Group AG, Registered
   165,268    9,938,607
SGS SA, Registered
 5,186 13,446,357
    23,384,964
Real Estate Management & Development — 0.8%
Swiss Prime Site AG, Registered
 79,889 7,472,072
Software — 0.3%
Temenos AG
 20,651 3,066,876
Specialty Retail — 0.6%
Dufry AG, Registered
 40,441 5,530,762
Textiles, Apparel & Luxury Goods — 6.7%
Cie. Financiere Richemont SA, Registered
 454,438 41,759,667
Swatch Group AG (The), Bearer
 29,587 14,391,723
Swatch Group AG (The), Registered
 67,647 6,024,306
    62,175,696
Total Common Stocks — 98.9%

(Cost: $1,005,941,839)
 921,320,552
Short-Term Investments
Money Market Funds — 0.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(b)(c)(d)
 126 126
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(b)(c)
 96,407 96,407
    96,533
Total Short-Term Investments — 0.0%

(Cost: $96,533)
 96,533
Total Investments in Securities — 98.9%

(Cost: $1,006,038,372)
 921,417,085
Other Assets, Less Liabilities — 1.1%
 10,092,199
Net Assets — 100.0%
 $ 931,509,284
    
(a) All or a portion of this security is on loan.
(b) Affiliate of the Fund.
(c) Annualized 7-day yield as of period-end.
(d) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
  
178

iShares® MSCI Switzerland ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 — 126 126 $ 126   $ 0(a)(b)   $ —   $ —
BlackRock Cash Funds: Treasury, SL Agency Shares
 609,567 (513,160) 96,407 96,407   6,762   —   —
        $ 96,533   $ 6,762   $ —   $ —
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
(b) Rounds to less than $1.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
Euro STOXX 50
 262 06/15/18 $ 10,420 $ (28,957)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $921,320,552   $         —   $         —   $921,320,552
Money Market Funds
      96,533            —            —        96,533
  $921,417,085   $         —   $         —   $921,417,085
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $     (28,957)   $         —   $         —   $     (28,957)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
179
  

iShares® MSCI Taiwan ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Airlines — 0.5%
China Airlines Ltd.(a)
  25,488,761 $     8,634,779
Eva Airways Corp.
  19,116,278     9,666,125
    18,300,904
Auto Components — 0.5%
Cheng Shin Rubber Industry Co. Ltd.(b)
  13,806,670    21,013,105
Banks — 11.1%
Chang Hwa Commercial Bank Ltd.
  38,232,848     22,394,956
China Development Financial Holding Corp.
 92,394,508 34,692,463
CTBC Financial Holding Co. Ltd.
 114,696,325 82,687,470
E.Sun Financial Holding Co. Ltd.
 62,658,058 43,707,872
First Financial Holding Co. Ltd.
 67,968,171 46,164,320
Hua Nan Financial Holdings Co. Ltd.
 53,100,746 31,724,158
Mega Financial Holding Co. Ltd.
 72,216,271 63,270,434
SinoPac Financial Holdings Co. Ltd.
 76,956,397 28,510,455
Taishin Financial Holding Co. Ltd.
 66,513,469 32,744,478
Taiwan Business Bank
 36,108,697 11,027,304
Taiwan Cooperative Financial Holding Co. Ltd.
 57,348,014 33,783,103
    430,707,013
Biotechnology — 0.5%
TaiMed Biologics Inc.(a)
 1,654,000 17,389,316
Capital Markets — 0.9%
Yuanta Financial Holding Co. Ltd.
 71,154,248 33,485,470
Chemicals — 7.0%
Formosa Chemicals & Fibre Corp.
 22,302,610 85,603,196
Formosa Plastics Corp.
 27,612,518 99,071,998
Nan Ya Plastics Corp.
 31,860,938 89,006,242
    273,681,436
Construction Materials — 1.4%
Asia Cement Corp.
 16,992,136 18,743,724
Taiwan Cement Corp.
 25,488,504 37,090,893
    55,834,617
Diversified Financial Services — 2.7%
Chailease Holding Co. Ltd.
 8,496,937 30,344,685
Fubon Financial Holding Co. Ltd.
 43,542,515 75,716,003
    106,060,688
Diversified Telecommunication Services — 2.3%
Chunghwa Telecom Co. Ltd.
 24,464,648 89,002,441
Electrical Equipment — 0.3%
Teco Electric and Machinery Co. Ltd.
 14,868,092 11,984,194
Ya Hsin Industrial Co. Ltd.(a)(c)
 6,845,461 2
    11,984,196
Electronic Equipment, Instruments & Components — 15.2%
AU Optronics Corp.(b)
 62,658,830 27,500,746
Delta Electronics Inc.(b)
 13,190,180 48,866,378
General Interface Solution Holding Ltd.(b)
 1,461,000 9,338,034
Hon Hai Precision Industry Co. Ltd.
 103,014,003 294,654,809
Innolux Corp.(b)
 64,782,873 25,081,565
Largan Precision Co. Ltd.(b)
 656,794 89,877,189
Pacific Electric Wire & Cable Co. Ltd.(a)(c)
 197 —
Synnex Technology International Corp.
 10,620,364 17,014,418
Walsin Technology Corp.
 430,000 5,561,304
WPG Holdings Ltd.
 12,744,744 18,503,625
Yageo Corp.(b)
 1,431,000 45,420,990
 Security   Shares Value
Electronic Equipment, Instruments & Components (continued)
Zhen Ding Technology Holding Ltd.(b)
   4,248,072 $     9,598,801
    591,417,859
Food & Staples Retailing — 1.1%
President Chain Store Corp.
   4,248,215    43,529,263
Food Products — 2.2%
Standard Foods Corp.(b)
   4,248,056      8,677,170
Uni-President Enterprises Corp.
  31,860,189    77,732,417
    86,409,587
Household Durables — 0.2%
Nien Made Enterprise Co. Ltd.
 1,062,000 8,418,304
Industrial Conglomerates — 0.6%
Far Eastern New Century Corp.
 23,364,843 22,264,115
Insurance — 3.5%
Cathay Financial Holding Co. Ltd.
 53,100,483 94,994,773
China Life Insurance Co. Ltd./Taiwan
 17,669,250 18,547,066
Shin Kong Financial Holding Co. Ltd.(b)
 60,534,205 24,244,796
    137,786,635
Leisure Products — 0.2%
Giant Manufacturing Co. Ltd.(b)
 2,124,590 9,218,387
Machinery — 1.1%
Airtac International Group
 1,062,000 18,254,426
Hiwin Technologies Corp.
 1,844,862 26,169,129
    44,423,555
Marine — 0.2%
Evergreen Marine Corp. Taiwan Ltd.(a)
 19,116,364 9,474,759
Metals & Mining — 1.7%
China Steel Corp.
 83,898,977 66,085,338
Oil, Gas & Consumable Fuels — 0.9%
Formosa Petrochemical Corp.
 8,496,950 34,456,867
Real Estate Management & Development — 0.6%
Highwealth Construction Corp.
 7,434,790 11,265,773
Ruentex Development Co. Ltd.(a)(b)
 8,900,127 10,738,434
    22,004,207
Semiconductors & Semiconductor Equipment — 32.3%
ASE Industrial Holding Co. Ltd.
 22,833,432 57,919,024
Globalwafers Co. Ltd.
 1,607,000 31,805,851
Macronix International(a)(b)
 12,744,000 21,054,620
MediaTek Inc.
 9,723,175 101,088,698
Nanya Technology Corp.
 7,434,000 24,712,594
Novatek Microelectronics Corp.
 4,248,544 19,213,915
Phison Electronics Corp.
 1,062,698 9,771,650
Powertech Technology Inc.
 5,310,036 15,844,241
Realtek Semiconductor Corp.
 3,186,063 12,175,766
Taiwan Semiconductor Manufacturing Co. Ltd.
 116,124,882 868,179,950
United Microelectronics Corp.(b)
 82,836,501 46,033,334
Vanguard International Semiconductor Corp.(b)
 7,434,000 16,276,568
Win Semiconductors Corp.
 2,484,000 20,187,707
Winbond Electronics Corp.
 22,302,000 14,924,323
    1,259,188,241
Specialty Retail — 0.5%
Hotai Motor Co. Ltd.
 2,124,000 19,388,682
Technology Hardware, Storage & Peripherals — 8.5%
Acer Inc.
 23,364,737 19,144,712
 
 
  
180

iShares® MSCI Taiwan ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Technology Hardware, Storage & Peripherals (continued)
Advantech Co. Ltd.(b)
   2,326,614 $    15,763,651
Asustek Computer Inc.
   4,874,857     44,174,146
Catcher Technology Co. Ltd.
   4,625,743     53,804,764
Chicony Electronics Co. Ltd.
   5,331,050     12,597,445
Compal Electronics Inc.
  31,860,554     20,948,648
Foxconn Technology Co. Ltd.(b)
   6,425,499     15,827,039
HTC Corp.(a)(b)
   5,310,884     10,387,257
Inventec Corp.
  20,178,868     16,332,211
Lite-On Technology Corp.(b)
 15,983,071 20,858,037
Micro-Star International Co. Ltd.
 5,310,000 22,153,430
Pegatron Corp.
 13,806,037 29,168,171
Quanta Computer Inc.(b)
 19,116,240 33,815,421
Wistron Corp.(b)
 20,178,130 15,186,717
    330,161,649
Textiles, Apparel & Luxury Goods — 1.8%
Eclat Textile Co. Ltd.(b)
 1,454,601 17,768,936
Feng TAY Enterprise Co. Ltd.(b)
 3,186,476 14,144,863
Formosa Taffeta Co. Ltd.
 7,434,515 8,275,322
Pou Chen Corp.
 15,930,103 19,512,868
Ruentex Industries Ltd.
 5,310,262 10,864,578
    70,566,567
Transportation Infrastructure — 0.3%
Taiwan High Speed Rail Corp.
 14,694,000 11,353,440
Wireless Telecommunication Services — 1.8%
Far EasTone Telecommunications Co. Ltd.
 11,682,259 29,789,049
Taiwan Mobile Co. Ltd.
 10,620,609 38,992,273
    68,781,322
Total Common Stocks — 99.9%

(Cost: $2,012,938,882)
 3,892,387,963
 Security   Shares Value
Short-Term Investments
Money Market Funds — 5.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 207,305,838 $   207,347,299
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
   6,915,975     6,915,975
    214,263,274
Total Short-Term Investments — 5.5%

(Cost: $214,228,608)
 214,263,274
Total Investments in Securities — 105.4%

(Cost: $2,227,167,490)
 4,106,651,237
Other Assets, Less Liabilities — (5.4)%
 (211,825,243)
Net Assets — 100.0%
 $ 3,894,825,994
    
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(c) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 176,501,828 30,804,010 207,305,838 $207,347,299   $2,369,947 (a)   $ (17,500)   $ 2,921
BlackRock Cash Funds: Treasury, SL Agency Shares
 22,826,941 (15,910,966) 6,915,975 6,915,975   66,732   —   —
        $214,263,274   $2,436,679   $ (17,500)   $ 2,921
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI Taiwan Index
 80 06/28/18 $ 3,159 $ (41,477)
181
  

iShares® MSCI Taiwan ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $3,892,387,961   $           —   $            2   $3,892,387,963
Money Market Funds
   214,263,274              —              —     214,263,274
  $4,106,651,235   $           —   $            2   $4,106,651,237
Derivative financial instruments(a)              
Liabilities              
Futures Contracts
 $       (41,477)   $           —   $            —   $       (41,477)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
  
182

iShares® MSCI Thailand ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Airlines — 0.4%
Bangkok Airways PCL, NVDR(a)
   2,205,400 $   1,040,998
Thai Airways International PCL, NVDR(b)
   1,978,966     971,234
    2,012,232
Auto Components — 0.2%
Sri Trang Agro-Industry PCL, NVDR
   2,280,245     890,999
Banks — 16.2%
Bangkok Bank PCL
     741,300    4,472,363
Kasikornbank PCL, NVDR
 1,907,600 11,419,362
Kasikornbank PCL
 3,485,700 21,247,624
Kiatnakin Bank PCL, NVDR
 1,119,373 2,405,655
Krung Thai Bank PCL, NVDR
 10,465,300 5,725,000
Siam Commercial Bank PCL (The), NVDR
 4,793,200 19,927,965
Thanachart Capital PCL, NVDR
 1,776,400 2,859,788
Tisco Financial Group PCL, NVDR
 962,110 2,496,253
TMB Bank PCL, NVDR
 39,388,400 3,053,555
    73,607,565
Building Products — 0.2%
Dynasty Ceramic PCL, NVDR(a)
 7,080,840 460,399
Vanachai Group PCL, NVDR(a)
 1,280,200 346,162
    806,561
Chemicals — 6.2%
Eastern Polymer Group PCL, NVDR(a)
 2,963,800 685,593
Global Green Chemicals PCL, NVDR(a)
 591,100 256,839
Indorama Ventures PCL, NVDR
 4,602,910 8,381,354
PTT Global Chemical PCL, NVDR
 6,493,407 18,116,179
Vinythai PCL, NVDR(a)
 747,100 618,886
    28,058,851
Construction & Engineering — 0.9%
CH Karnchang PCL, NVDR(a)
 1,275,700 1,066,739
Italian-Thai Development PCL, NVDR(a)(b)
 5,179,848 573,200
Sino-Thai Engineering & Construction PCL, NVDR(a)(b)
 2,243,028 1,584,634
Unique Engineering & Construction PCL, NVDR(a)
 1,604,300 737,205
    3,961,778
Construction Materials — 3.5%
Siam Cement PCL (The), NVDR
 1,102,500 15,370,897
TPI Polene PCL, NVDR
 9,136,800 539,811
    15,910,708
Consumer Finance — 1.2%
Group Lease PCL, NVDR(a)
 87,100 17,289
Krungthai Card PCL, NVDR
 68,000 741,857
Muangthai Capital PCL, NVDR(a)
 1,905,100 1,861,031
Ratchthani Leasing PCL, NVDR(a)
 3,230,149 782,546
Srisawad Corp PCL, NVDR(a)
 1,683,718 1,855,301
    5,258,024
Containers & Packaging — 0.1%
Polyplex Thailand PCL, NVDR(a)
 1,005,600 502,957
Diversified Telecommunication Services — 1.9%
Jasmine International PCL, NVDR
 8,231,168 1,492,365
Thaicom PCL, NVDR(a)
 1,364,700 398,873
True Corp. PCL, NVDR
 29,921,418 6,687,657
    8,578,895
Electrical Equipment — 0.2%
Gunkul Engineering PCL, NVDR(a)
 6,739,168 686,767
 Security   Shares Value
Electronic Equipment, Instruments & Components — 1.6%
Cal-Comp Electronics Thailand PCL, NVDR
   5,648,012 $     346,049
Delta Electronics Thailand PCL, NVDR
   1,491,244    3,006,728
Hana Microelectronics PCL, NVDR(a)
   1,686,100    1,805,218
KCE Electronics PCL, NVDR(a)
   1,580,900    1,606,104
Samart Corp. PCL, NVDR
     743,700      176,684
SVI PCL, NVDR(a)
   4,195,415     545,574
    7,486,357
Food & Staples Retailing — 9.5%
Berli Jucker PCL, NVDR
 3,579,200 6,377,443
CP ALL PCL, NVDR
 14,650,700 36,981,683
    43,359,126
Food Products — 3.2%
Charoen Pokphand Foods PCL, NVDR
 9,704,600 7,584,089
GFPT PCL, NVDR(a)
 1,572,400 589,834
Ichitan Group PCL, NVDR
 1,435,800 246,855
Khon Kaen Sugar Industry PCL, NVDR(a)
 4,709,078 485,776
Taokaenoi Food & Marketing PCL, NVDR(a)
 1,048,700 652,364
Thai Union Group PCL, NVDR
 5,712,000 3,089,015
Thai Vegetable Oil PCL, NVDR
 1,194,853 1,157,876
Thaifoods Group PCL, NVDR(a)
 3,882,400 580,115
    14,385,924
Health Care Providers & Services — 4.6%
Bangkok Chain Hospital PCL, NVDR
 3,671,625 1,882,296
Bangkok Dusit Medical Services PCL, NVDR
 11,572,700 9,677,078
Bumrungrad Hospital PCL, NVDR
 1,067,076 6,421,136
Chularat Hospital PCL, NVDR
 14,908,900 1,081,233
Thonburi Healthcare Group PCL, NVDR
 590,400 622,882
Vibhavadi Medical Center PCL, NVDR
 15,914,500 1,283,508
    20,968,133
Hotels, Restaurants & Leisure — 1.7%
Erawan Group PCL (The), NVDR
 3,743,800 953,797
Minor International PCL, NVDR
 6,462,910 6,565,945
    7,519,742
Independent Power and Renewable Electricity Producers — 2.4%
BCPG PCL, NVDR(a)
 1,801,800 1,103,947
CK Power PCL, NVDR(a)
 5,601,260 696,875
Electricity Generating PCL, NVDR
 393,800 2,966,733
Glow Energy PCL, NVDR
 1,529,200 4,063,207
Inter Far East Energy Corp., NVDR(b)(c)
 3,184,500 1
SPCG PCL, NVDR(a)
 1,121,600 750,304
Super Energy Corp. PCL, NVDR(b)
 32,935,450 1,523,741
Thai Solar Energy PCL, NVDR(a)
 119,935 10,948
    11,115,756
Industrial Conglomerates — 0.1%
Thoresen Thai Agencies PCL, NVDR
 2,718,089 666,990
Marine — 0.1%
Precious Shipping PCL, NVDR(a)(b)
 1,683,700 626,322
Media — 1.2%
BEC World PCL, NVDR(a)
 2,973,600 878,416
Major Cineplex Group PCL, NVDR(a)
 1,310,100 1,105,742
Mono Technology PCL, NVDR
 2,733,900 235,872
Plan B Media PCL, NVDR(a)
 3,228,400 640,836
RS PCL, NVDR(a)(b)
 1,374,000 807,477
VGI Global Media PCL, NVDR(a)
 5,193,540 1,258,204
Workpoint Entertainment PCL, NVDR(a)
 440,000 591,435
    5,517,982
 
 
183
  

iShares® MSCI Thailand ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Multiline Retail — 0.6%
Robinson PCL, NVDR
   1,496,800 $   2,947,746
Oil, Gas & Consumable Fuels — 21.1%
Bangchak Corp. PCL, NVDR
   1,036,800    1,174,867
Banpu PCL, NVDR
   6,148,600    4,036,280
Energy Absolute PCL, NVDR(a)
   3,588,200    4,346,444
Energy Earth PCL, NVDR(a)(b)(c)
   4,419,400            2
Esso Thailand PCL, NVDR
   3,618,100    1,662,584
IRPC PCL, NVDR
  29,932,700    6,175,549
Prima Marine PCL, NVDR
 1,077,500 282,932
PTT Exploration & Production PCL, NVDR
 4,151,784 17,455,922
PTT PCL, NVDR
 31,305,900 51,132,644
Siamgas & Petrochemicals PCL, NVDR(a)
 2,240,800 696,967
Thai Oil PCL, NVDR
 3,177,800 9,139,031
    96,103,222
Personal Products — 0.0%
Do Day Dream PCL, NVDR
 106,400 222,845
Pharmaceuticals — 0.3%
Mega Lifesciences PCL, NVDR(a)
 1,042,600 1,352,545
Real Estate Management & Development — 6.4%
Amata Corp. PCL, NVDR(a)
 1,569,800 1,128,647
Ananda Development PCL, NVDR(a)
 4,539,800 618,741
AP Thailand PCL, NVDR(a)
 2,866,786 824,459
Bangkok Land PCL, NVDR
 30,541,800 1,909,459
Central Pattana PCL, NVDR
 4,028,300 9,601,684
Golden Land Property Development PCL, NVDR
 1,472,100 519,998
Land & Houses PCL, NVDR
 7,878,500 2,733,709
LPN Development PCL, NVDR
 1,757,347 532,862
Origin Property PCL, NVDR(a)
 1,233,800 771,366
Platinum Group PCL (The), NVDR
 2,566,100 649,747
Quality Houses PCL, NVDR(a)
 13,037,931 1,328,654
Sansiri PCL, NVDR
 16,840,637 915,996
SC Asset Corp. PCL, NVDR(a)
 4,533,604 521,527
Siam Future Development PCL, NVDR(a)
 2,657,228 730,966
Singha Estate PCL, NVDR(a)(b)
 7,273,000 777,545
Supalai PCL, NVDR(a)(b)
 1,820,700 1,437,095
U City PCL, NVDR(b)
 842,327,900 789,929
Univentures PCL, NVDR(a)
 2,046,700 553,422
WHA Corp. PCL, NVDR(a)
 21,015,640 2,890,554
    29,236,360
Road & Rail — 1.2%
BTS Group Holdings PCL, NVDR
 17,486,000 5,302,101
Specialty Retail — 2.7%
Beauty Community PCL, NVDR
 5,634,400 3,082,276
Com7 PCL, NVDR(a)
 1,105,800 632,577
Home Product Center PCL, NVDR
 11,805,371 5,387,884
PTG Energy PCL, NVDR(a)
 1,764,000 1,042,188
Siam Global House PCL, NVDR(a)
 4,175,740 2,166,842
    12,311,767
 Security   Shares Value
Textiles, Apparel & Luxury Goods — 0.1%
MC Group PCL, NVDR(a)
   1,113,200 $     462,818
Transportation Infrastructure — 7.4%
Airports of Thailand PCL, NVDR
  12,749,100   27,299,573
Bangkok Aviation Fuel Services PCL, NVDR(a)
     586,100      687,051
Bangkok Expressway & Metro PCL, NVDR
  22,397,253   5,741,090
    33,727,714
Water Utilities — 0.5%
TTW PCL, NVDR
   4,182,366    1,621,173
WHA Utilities and Power PCL, NVDR(a)
 4,109,600 822,177
    2,443,350
Wireless Telecommunication Services — 4.1%
Advanced Info Service PCL, NVDR
 3,109,419 18,516,546
Total Common Stocks — 99.8%

(Cost: $454,423,000)
 454,548,683
Warrants
Electronic Equipment, Instruments & Components — 0.0%
Samart Corp. PCL, NVDR, (Expires 05/17/21)(b)
 578,245 6,869
Total Warrants — 0.0%

(Cost: $0)
 6,869
Short-Term Investments
Money Market Funds — 5.7%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 22,101,468 22,105,888
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
 3,851,268 3,851,268
    25,957,156
Total Short-Term Investments — 5.7%

(Cost: $25,953,406)
 25,957,156
Total Investments in Securities — 105.5%

(Cost: $480,376,406)
 480,512,708
Other Assets, Less Liabilities — (5.5)%
 (25,122,480)
Net Assets — 100.0%
 $ 455,390,228
    
(a) All or a portion of this security is on loan.
(b) Non-income producing security.
(c) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
  
184

iShares® MSCI Thailand ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 15,082,493 7,018,975 22,101,468 $22,105,888   $ 782,811(a)   $ 296   $ (774)
BlackRock Cash Funds: Treasury, SL Agency Shares
 1,168,228 2,683,040 3,851,268 3,851,268   8,526   —   —
        $25,957,156   $791,337   $ 296   $ (774)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $454,548,680   $         —   $          3   $454,548,683
Warrants
       6,869            —            —          6,869
Money Market Funds
  25,957,156            —            —    25,957,156
  $480,512,705   $         —   $          3   $480,512,708
Portfolio Abbreviations - Equity
NVDR
 Non-Voting Depositary Receipt
185
  

iShares® MSCI Turkey ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 1.9%
Aselsan Elektronik Sanayi Ve Ticaret AS(a)
    955,702 $   4,970,758
Airlines — 4.5%
Pegasus Hava Tasimaciligi AS(b)
    186,344    1,094,052
Turk Hava Yollari AO(b)
  2,862,000  10,502,000
    11,596,052
Auto Components — 0.2%
Goodyear Lastikleri TAS
    101,680       73,278
Kordsa Teknik Tekstil AS(a)
 307,596 467,076
    540,354
Automobiles — 3.4%
Ford Otomotiv Sanayi AS
 364,055 5,134,937
Tofas Turk Otomobil Fabrikasi AS
 648,724 3,574,276
    8,709,213
Banks — 27.3%
Akbank Turk AS
 11,401,308 20,177,083
Albaraka Turk Katilim Bankasi AS(a)
 1,676,211 502,407
Turkiye Garanti Bankasi AS
 11,971,374 23,507,684
Turkiye Halk Bankasi AS
 3,239,008 5,482,282
Turkiye Is Bankasi AS, Class C
 8,162,246 10,721,217
Turkiye Sinai Kalkinma Bankasi AS
 5,597,005 1,504,886
Turkiye Vakiflar Bankasi TAO, Class D
 3,886,810 4,685,639
Yapi ve Kredi Bankasi AS(a)(b)
 4,505,644 3,991,821
    70,573,019
Beverages — 3.5%
Anadolu Efes Biracilik Ve Malt Sanayii AS
 1,075,757 5,974,518
Coca-Cola Icecek AS
 396,728 3,116,152
    9,090,670
Building Products — 0.7%
Trakya Cam Sanayii AS
 2,060,597 1,816,525
Capital Markets — 0.3%
Verusa Holding AS(a)
 129,060 691,172
Chemicals — 3.0%
Gubre Fabrikalari TAS(b)
 101,075 71,060
Petkim Petrokimya Holding AS
 3,891,670 4,039,662
Sasa Polyester Sanayi AS(a)(b)
 629,415 1,474,546
Soda Sanayii AS
 1,870,094 2,188,498
    7,773,766
Construction & Engineering — 1.4%
Tekfen Holding AS
 1,057,607 3,528,892
Construction Materials — 0.5%
Akcansa Cimento AS
 250,797 508,509
Cimsa Cimento Sanayi VE Ticaret AS(a)
 281,993 696,056
    1,204,565
Containers & Packaging — 0.2%
Anadolu Cam Sanayii AS
 992,788 560,125
Diversified Financial Services — 3.8%
Haci Omer Sabanci Holding AS
 4,763,097 9,793,980
Diversified Telecommunication Services — 0.1%
Turk Telekomunikasyon AS(b)
 146,065 190,893
Equity Real Estate Investment Trusts (REITs) — 1.6%
Emlak Konut Gayrimenkul Yatirim Ortakligi AS(a)
 9,083,937 4,144,123
 Security   Shares Value
Equity Real Estate Investment Trusts (REITs) (continued)
Is Gayrimenkul Yatirim Ortakligi AS
    161,489 $      35,590
    4,179,713
Food & Staples Retailing — 7.0%
BIM Birlesik Magazalar AS
  1,101,685   16,813,780
Migros Ticaret AS(b)
    277,912   1,217,008
    18,030,788
Food Products — 1.2%
Ulker Biskuvi Sanayi AS
    800,111   3,085,862
Gas Utilities — 0.4%
Aygaz AS(a)
 392,399 1,047,274
Health Care Providers & Services — 0.8%
MLP Saglik Hizmetleri AS(b)(c)
 434,084 1,530,671
Selcuk Ecza Deposu Ticaret ve Sanayi AS
 816,404 698,112
    2,228,783
Household Durables — 2.1%
Arcelik AS(a)
 1,228,328 4,499,181
Vestel Elektronik Sanayi ve Ticaret AS(a)(b)
 438,083 855,417
    5,354,598
Independent Power and Renewable Electricity Producers — 0.6%
Aksa Enerji Uretim AS(a)(b)
 800,960 716,679
Zorlu Enerji Elektrik Uretim AS(b)
 2,972,189 969,452
    1,686,131
Industrial Conglomerates — 7.5%
AG Anadolu Grubu Holding AS(a)
 504,839 2,503,361
Alarko Holding AS(a)
 408,859 429,814
Dogan Sirketler Grubu Holding AS(a)(b)
 5,424,822 1,123,832
Enka Insaat ve Sanayi AS
 1 1
KOC Holding AS
 3,944,183 12,143,438
Turkiye Sise ve Cam Fabrikalari AS
 3,629,972 3,184,010
    19,384,456
Insurance — 0.9%
Anadolu Anonim Turk Sigorta Sirketi
 1,030,759 1,019,980
Anadolu Hayat Emeklilik AS
 451,459 810,894
AvivaSA Emeklilik ve Hayat AS(a)
 123,173 459,851
    2,290,725
Machinery — 0.6%
Otokar Otomotiv Ve Savunma Sanayi AS(a)
 43,824 746,103
Turk Traktor ve Ziraat Makineleri AS
 69,923 903,037
    1,649,140
Media — 0.0%
Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS(b)
 151,447 75,098
Metals & Mining — 10.5%
Borusan Mannesmann Boru Sanayi ve Ticaret AS(a)
 221,839 446,861
Eregli Demir ve Celik Fabrikalari TAS
 7,255,377 17,956,755
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class A(b)
 1,069,408 855,536
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D(b)
 3,436,935 3,605,508
Koza Altin Isletmeleri AS(b)
 238,015 2,506,332
Koza Anadolu Metal Madencilik Isletmeleri AS(a)(b)
 1,010,943 1,882,658
    27,253,650
Oil, Gas & Consumable Fuels — 6.2%
Ipek Dogal Enerji Kaynaklari Arastirma Ve Uretim AS(a)(b)
 545,436 805,391
Tupras Turkiye Petrol Rafinerileri AS
 649,310 15,182,931
    15,988,322
 
 
  
186

iShares® MSCI Turkey ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Personal Products — 0.3%
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS
    900,271 $     680,543
Software — 0.3%
Logo Yazilim Sanayi Ve Ticaret AS(a)(b)
     85,150     900,770
Textiles, Apparel & Luxury Goods — 1.2%
Aksa Akrilik Kimya Sanayii AS
    435,314    1,107,125
Mavi Giyim Sanayi Ve Ticaret AS, Class B(c)
    187,775   2,016,198
    3,123,323
Transportation Infrastructure — 1.8%
TAV Havalimanlari Holding AS
 943,407 4,561,670
Wireless Telecommunication Services — 5.8%
Turkcell Iletisim Hizmetleri AS
 5,704,186 15,085,617
Total Common Stocks — 99.6%

(Cost: $466,384,903)
 257,646,447
Short-Term Investments
Money Market Funds — 5.7%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(d)(e)(f)
 14,161,375 14,164,208
 Security   Shares Value
Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(d)(e)
    556,096 $     556,096
    14,720,304
Total Short-Term Investments — 5.7%

(Cost: $14,718,096)
 14,720,304
Total Investments in Securities — 105.3%

(Cost: $481,102,999)
 272,366,751
Other Assets, Less Liabilities — (5.3)%
 (13,767,341)
Net Assets — 100.0%
 $ 258,599,410
    
(a) All or a portion of this security is on loan.
(b) Non-income producing security.
(c) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period-end.
(f) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Net Activity Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 15,951,030 (1,789,655) 14,161,375 $14,164,208   $808,302 (a)   $ (185)   $ (1,722)
BlackRock Cash Funds: Treasury, SL Agency Shares
 100,988 455,108 556,096 556,096   1,564   —   —
        $14,720,304   $809,866   $ (185)   $ (1,722)
    
(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $257,646,447   $         —   $         —   $257,646,447
Money Market Funds
  14,720,304            —            —    14,720,304
  $272,366,751   $         —   $         —   $272,366,751
187
  

iShares® MSCI USA Equal Weighted ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Common Stocks
Aerospace & Defense — 2.2%
Arconic Inc.
    13,698 $     241,770
Boeing Co. (The)
       703      247,568
General Dynamics Corp.
     1,213      244,674
Harris Corp.
     1,651      248,426
Huntington Ingalls Industries Inc.
     1,123      248,262
L3 Technologies Inc.
     1,275      252,871
Lockheed Martin Corp.
       787      247,543
Northrop Grumman Corp.
 761 249,037
Raytheon Co.
 1,195 250,353
Rockwell Collins Inc.
 1,828 251,368
Spirit AeroSystems Holdings Inc., Class A
 2,914 246,845
Textron Inc.
 3,793 252,538
TransDigm Group Inc.
 756 252,587
United Technologies Corp.
 1,987 248,017
    3,481,859
Air Freight & Logistics — 0.8%
CH Robinson Worldwide Inc.
 2,861 248,907
Expeditors International of Washington Inc.
 3,420 254,722
FedEx Corp.
 1,004 250,116
United Parcel Service Inc., Class B
 2,186 253,838
XPO Logistics Inc.(a)
 2,320 244,180
    1,251,763
Airlines — 0.6%
American Airlines Group Inc.
 5,621 244,738
Delta Air Lines Inc.
 4,519 244,252
Southwest Airlines Co.
 4,776 243,958
United Continental Holdings Inc.(a)
 3,522 245,096
    978,044
Auto Components — 0.8%
Aptiv PLC
 2,585 252,037
Autoliv Inc.
 1,710 253,029
BorgWarner Inc.
 4,906 239,315
Goodyear Tire & Rubber Co. (The)
 10,022 244,837
Lear Corp.
 1,271 251,658
    1,240,876
Automobiles — 0.7%
Ford Motor Co.
 21,934 253,338
General Motors Co.
 6,592 281,478
Harley-Davidson Inc.
 5,967 245,124
Tesla Inc.(a)(b)
 905 257,681
    1,037,621
Banks — 3.5%
Bank of America Corp.
 8,371 243,094
BB&T Corp.
 4,606 241,815
CIT Group Inc.
 4,888 244,058
Citigroup Inc.
 3,689 246,019
Citizens Financial Group Inc.
 6,082 248,450
Comerica Inc.
 2,569 242,231
East West Bancorp. Inc.
 3,585 249,086
Fifth Third Bancorp.
 8,050 246,169
First Republic Bank/CA
 2,527 251,689
Huntington Bancshares Inc./OH
 16,719 248,611
JPMorgan Chase & Co.
 2,281 244,090
KeyCorp.
 12,598 244,905
M&T Bank Corp.
 1,410 242,633
People's United Financial Inc.
 13,457 247,743
PNC Financial Services Group Inc. (The)(c)
 1,704 244,371
 Security   Shares Value
Banks (continued)
Regions Financial Corp.
    13,280 $     242,227
Signature Bank/New York NY(a)
     1,939      247,203
SunTrust Banks Inc.
     3,661      247,154
SVB Financial Group(a)
       790      246,583
U.S. Bancorp.
     4,995      249,700
Wells Fargo & Co.
     4,599      248,300
Zions BanCorp.
     4,425     242,534
    5,408,665
Beverages — 1.1%
Brown-Forman Corp., Class B, NVS
 4,445 251,409
Coca-Cola Co. (The)
 5,954 256,022
Constellation Brands Inc., Class A
 1,166 260,111
Dr Pepper Snapple Group Inc.
 2,098 250,291
Molson Coors Brewing Co., Class B
 4,110 253,382
Monster Beverage Corp.(a)
 5,084 260,098
PepsiCo Inc.
 2,517 252,329
    1,783,642
Biotechnology — 2.3%
AbbVie Inc.
 2,498 247,152
Alexion Pharmaceuticals Inc.(a)
 2,144 248,983
Alkermes PLC(a)
 5,516 260,355
Alnylam Pharmaceuticals Inc.(a)(b)
 2,525 251,162
Amgen Inc.
 1,416 254,342
Biogen Inc.(a)
 882 259,273
BioMarin Pharmaceutical Inc.(a)
 2,730 246,628
Celgene Corp.(a)
 3,211 252,642
Gilead Sciences Inc.
 3,747 252,548
Incyte Corp.(a)(b)
 3,689 251,848
Regeneron Pharmaceuticals Inc.(a)
 859 257,975
Seattle Genetics Inc.(a)(b)
 4,525 273,717
United Therapeutics Corp.(a)
 2,437 259,735
Vertex Pharmaceuticals Inc.(a)
 1,603 246,862
    3,563,222
Building Products — 1.1%
Allegion PLC
 3,204 244,882
AO Smith Corp.
 3,916 246,982
Fortune Brands Home & Security Inc.
 4,391 246,642
Johnson Controls International PLC
 7,288 244,585
Lennox International Inc.
 1,218 247,632
Masco Corp.
 6,661 248,256
Owens Corning
 3,918 247,696
    1,726,675
Capital Markets — 3.8%
Affiliated Managers Group Inc.
 1,546 246,216
Ameriprise Financial Inc.
 1,775 246,068
Bank of New York Mellon Corp. (The)
 4,441 243,145
BlackRock Inc.(c)
 467 249,485
Cboe Global Markets Inc.
 2,449 238,924
Charles Schwab Corp. (The)
 4,406 245,062
CME Group Inc.
 1,582 257,708
E*TRADE Financial Corp.(a)
 3,936 249,346
Eaton Vance Corp., NVS
 4,592 247,050
Franklin Resources Inc.
 7,419 249,056
Goldman Sachs Group Inc. (The)
 1,074 242,595
Intercontinental Exchange Inc.
 3,563 252,581
Invesco Ltd.
 8,937 244,159
Moody's Corp.
 1,451 247,497
Morgan Stanley
 4,762 238,767
MSCI Inc.
 1,584 257,511
 
 
  
188

iShares® MSCI USA Equal Weighted ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Capital Markets (continued)
Nasdaq Inc.
     2,721 $     249,951
Northern Trust Corp.
     2,368      242,767
Raymond James Financial Inc.
     2,538      245,069
S&P Global Inc.
     1,260      248,850
SEI Investments Co.
     3,878      247,339
State Street Corp.
     2,513      241,524
T Rowe Price Group Inc.
     2,080      252,554
TD Ameritrade Holding Corp.
     4,196     248,403
    5,931,627
Chemicals — 2.8%
Air Products & Chemicals Inc.
 1,530 246,957
Albemarle Corp.
 2,663 248,911
Axalta Coating Systems Ltd.(a)(b)
 7,794 242,471
Celanese Corp., Series A
 2,206 249,101
CF Industries Holdings Inc.
 6,060 249,308
Chemours Co. (The)
 4,983 244,117
DowDuPont Inc.
 3,842 246,311
Eastman Chemical Co.
 2,376 247,841
Ecolab Inc.
 1,745 248,854
FMC Corp.
 2,815 245,158
International Flavors & Fragrances Inc.
 2,013 245,848
LyondellBasell Industries NV, Class A
 2,219 248,794
Monsanto Co.
 1,996 254,410
Mosaic Co. (The)
 9,048 248,730
PPG Industries Inc.
 2,442 246,447
Praxair Inc.
 1,607 251,110
Sherwin-Williams Co. (The)
 644 244,237
Westlake Chemical Corp.
 2,135 247,084
    4,455,689
Commercial Services & Supplies — 1.1%
Cintas Corp.
 1,396 254,421
Copart Inc.(a)
 4,654 255,179
Republic Services Inc.
 3,729 251,446
Rollins Inc.
 5,037 250,691
Stericycle Inc.(a)
 3,988 253,238
Waste Connections Inc.
 3,304 254,012
Waste Management Inc.
 3,043 251,687
    1,770,674
Communications Equipment — 1.1%
Arista Networks Inc.(a)
 987 248,290
Cisco Systems Inc.
 5,818 248,487
CommScope Holding Co. Inc.(a)
 8,523 249,894
F5 Networks Inc.(a)
 1,444 249,971
Juniper Networks Inc.
 9,271 246,979
Motorola Solutions Inc.
 2,283 245,057
Palo Alto Networks Inc.(a)
 1,206 250,957
    1,739,635
Construction & Engineering — 0.3%
Fluor Corp.
 5,202 253,545
Jacobs Engineering Group Inc.
 3,967 257,062
    510,607
Construction Materials — 0.3%
Martin Marietta Materials Inc.
 1,160 258,529
Vulcan Materials Co.
 1,983 253,309
    511,838
Consumer Finance — 0.8%
Ally Financial Inc.
 9,389 240,828
American Express Co.
 2,497 245,455
 Security   Shares Value
Consumer Finance (continued)
Capital One Financial Corp.
     2,663 $     250,322
Discover Financial Services
     3,322      245,363
Synchrony Financial
     7,090     245,527
    1,227,495
Containers & Packaging — 1.1%
Avery Dennison Corp.
     2,327      244,405
Ball Corp.
     6,580      243,131
Crown Holdings Inc.(a)
     5,541      240,147
International Paper Co.
 4,664 249,524
Packaging Corp. of America
 2,105 247,337
Sealed Air Corp.
 5,516 240,277
WestRock Co.
 4,210 247,885
    1,712,706
Distributors — 0.3%
Genuine Parts Co.
 2,760 250,581
LKQ Corp.(a)
 8,207 260,736
    511,317
Diversified Consumer Services — 0.2%
H&R Block Inc.
 9,039 248,121
Diversified Financial Services — 0.5%
Berkshire Hathaway Inc., Class B(a)
 1,300 248,989
Jefferies Financial Group Inc.
 10,863 237,682
Voya Financial Inc.
 4,753 246,871
    733,542
Diversified Telecommunication Services — 0.6%
AT&T Inc.
 7,766 250,997
CenturyLink Inc.
 13,892 253,112
Verizon Communications Inc.
 5,200 247,884
Zayo Group Holdings Inc.(a)
 7,248 252,231
    1,004,224
Electric Utilities — 2.6%
Alliant Energy Corp.
 6,189 256,348
American Electric Power Co. Inc.
 3,756 255,220
Duke Energy Corp.
 3,330 256,943
Edison International
 4,009 249,199
Entergy Corp.
 3,166 256,161
Eversource Energy
 4,487 256,118
Exelon Corp.
 6,208 256,949
FirstEnergy Corp.
 7,404 254,846
NextEra Energy Inc.
 1,554 257,669
OGE Energy Corp.
 7,341 257,082
PG&E Corp.
 5,653 244,945
Pinnacle West Capital Corp.
 3,237 257,698
PPL Corp.
 9,197 251,262
Southern Co. (The)
 5,671 254,628
Westar Energy Inc.
 4,496 254,923
Xcel Energy Inc.
 5,587 254,320
    4,074,311
Electrical Equipment — 0.9%
Acuity Brands Inc.
 2,111 249,626
AMETEK Inc.
 3,362 245,527
Eaton Corp. PLC
 3,225 246,971
Emerson Electric Co.
 3,483 246,736
Rockwell Automation Inc.
 1,418 248,731
Sensata Technologies Holding PLC(a)
 4,848 247,684
    1,485,275
 
 
189
  

iShares® MSCI USA Equal Weighted ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Electronic Equipment, Instruments & Components — 1.9%
Amphenol Corp., Class A
     2,893 $     251,488
Arrow Electronics Inc.(a)
     3,402      252,156
Avnet Inc.
     6,524      248,695
CDW Corp./DE
     3,129      250,476
Cognex Corp.
     5,405      247,063
Corning Inc.
     9,330      253,496
Flex Ltd.(a)
    18,046      250,659
FLIR Systems Inc.
     4,690      252,791
IPG Photonics Corp.(a)
 1,010 243,683
Keysight Technologies Inc.(a)
 4,737 278,251
TE Connectivity Ltd.
 2,682 249,641
Trimble Inc.(a)
 7,280 240,677
    3,019,076
Energy Equipment & Services — 1.0%
Baker Hughes a GE Co.
 7,275 251,642
Halliburton Co.
 5,030 250,192
Helmerich & Payne Inc.
 3,793 251,779
National Oilwell Varco Inc.
 6,119 253,449
Schlumberger Ltd.
 3,680 252,706
TechnipFMC PLC
 8,084 251,817
    1,511,585
Equity Real Estate Investment Trusts (REITs) — 5.9%
Alexandria Real Estate Equities Inc.
 2,044 255,337
American Tower Corp.
 1,852 256,261
AvalonBay Communities Inc.
 1,561 258,408
Boston Properties Inc.
 2,109 256,813
Camden Property Trust
 2,949 259,512
Crown Castle International Corp.
 2,457 255,897
Digital Realty Trust Inc.(b)
 2,369 254,620
Duke Realty Corp.
 9,036 254,092
Equinix Inc.(b)
 651 258,349
Equity Residential
 4,088 261,591
Essex Property Trust Inc.
 1,078 257,674
Extra Space Storage Inc.(b)
 2,653 255,351
Federal Realty Investment Trust
 2,159 256,684
GGP Inc.
 12,285 249,140
HCP Inc.
 10,734 257,294
Host Hotels & Resorts Inc.
 11,710 253,287
Invitation Homes Inc.
 11,570 254,656
Iron Mountain Inc.
 7,653 254,768
Kimco Realty Corp.(b)
 16,842 260,377
Liberty Property Trust
 5,877 259,822
Macerich Co. (The)(b)
 4,611 256,510
Mid-America Apartment Communities Inc.
 2,758 258,039
National Retail Properties Inc.
 6,200 256,866
Prologis Inc.
 3,920 252,252
Public Storage
 1,211 256,538
Realty Income Corp.
 4,778 254,668
Regency Centers Corp.
 4,368 253,694
SBA Communications Corp.(a)
 1,599 252,754
Simon Property Group Inc.
 1,583 253,628
SL Green Realty Corp.
 2,634 256,868
UDR Inc.
 7,106 259,156
Ventas Inc.
 4,708 257,339
VEREIT Inc.
 35,608 254,953
Vornado Realty Trust
 3,734 260,297
Welltower Inc.
 4,439 255,908
Weyerhaeuser Co.
 6,832 255,039
    9,224,442
 Security   Shares Value
Food & Staples Retailing — 0.8%
Costco Wholesale Corp.
     1,273 $     252,360
Kroger Co. (The)
    10,258      249,577
Sysco Corp.
     3,883      252,511
Walgreens Boots Alliance Inc.
     3,974      247,938
Walmart Inc.
     3,062     252,737
    1,255,123
Food Products — 2.2%
Archer-Daniels-Midland Co.
     5,667      247,761
Bunge Ltd.
 3,610 251,075
Campbell Soup Co.
 7,297 245,471
Conagra Brands Inc.
 6,748 250,081
General Mills Inc.
 5,921 250,399
Hershey Co. (The)
 2,743 246,980
Hormel Foods Corp.
 7,040 252,666
Ingredion Inc.
 2,222 247,509
JM Smucker Co. (The)
 2,301 247,357
Kellogg Co.
 3,870 249,189
Kraft Heinz Co. (The)
 4,370 251,188
McCormick & Co. Inc./MD, NVS
 2,441 246,541
Mondelez International Inc., Class A
 6,378 250,464
Tyson Foods Inc., Class A
 3,628 244,781
    3,481,462
Gas Utilities — 0.3%
Atmos Energy Corp.
 2,877 256,657
UGI Corp.
 5,060 255,378
    512,035
Health Care Equipment & Supplies — 3.0%
Abbott Laboratories
 4,048 249,073
ABIOMED Inc.(a)
 640 243,930
Align Technology Inc.(a)
 793 263,236
Baxter International Inc.
 3,481 246,594
Becton Dickinson and Co.
 1,128 249,954
Boston Scientific Corp.(a)
 8,329 253,118
Cooper Companies Inc. (The)(b)
 1,108 250,752
Danaher Corp.
 2,472 245,420
DENTSPLY SIRONA Inc.
 5,421 237,494
Edwards Lifesciences Corp.(a)
 1,856 254,847
Hologic Inc.(a)
 6,487 245,792
IDEXX Laboratories Inc.(a)
 1,239 257,972
Intuitive Surgical Inc.(a)
 553 254,198
Medtronic PLC
 2,925 252,486
ResMed Inc.
 2,448 251,679
Stryker Corp.
 1,453 252,851
Teleflex Inc.
 949 253,535
Varian Medical Systems Inc.(a)
 2,130 251,063
Zimmer Biomet Holdings Inc.
 2,273 253,462
    4,767,456
Health Care Providers & Services — 2.7%
Aetna Inc.
 1,414 249,048
AmerisourceBergen Corp.
 2,953 242,559
Anthem Inc.
 1,086 240,462
Cardinal Health Inc.
 4,814 250,761
Centene Corp.(a)
 2,132 249,785
Cigna Corp.
 1,435 243,046
CVS Health Corp.
 3,823 242,340
DaVita Inc.(a)
 3,719 248,578
Express Scripts Holding Co.(a)
 3,275 248,278
HCA Healthcare Inc.
 2,435 251,146
Henry Schein Inc.(a)
 3,585 248,082
 
 
  
190

iShares® MSCI USA Equal Weighted ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Health Care Providers & Services (continued)
Humana Inc.
       858 $     249,661
Laboratory Corp. of America Holdings(a)
     1,386      250,298
McKesson Corp.
     1,731      245,698
Quest Diagnostics Inc.
     2,386      254,180
UnitedHealth Group Inc.
     1,031      248,997
Universal Health Services Inc., Class B
     2,164     248,817
    4,211,736
Health Care Technology — 0.3%
Cerner Corp.(a)
 4,212 251,372
Veeva Systems Inc., Class A(a)
 3,277 253,509
    504,881
Hotels, Restaurants & Leisure — 2.7%
Aramark
 6,518 253,029
Carnival Corp.
 3,929 244,698
Chipotle Mexican Grill Inc.(a)
 589 253,376
Darden Restaurants Inc.
 2,873 251,129
Domino's Pizza Inc.
 1,008 253,492
Hilton Worldwide Holdings Inc.
 3,085 248,990
Las Vegas Sands Corp.
 3,182 256,501
Marriott International Inc./MD, Class A
 1,830 247,709
McDonald's Corp.
 1,547 247,535
MGM Resorts International
 8,027 252,449
Norwegian Cruise Line Holdings Ltd.(a)(b)
 4,664 244,114
Royal Caribbean Cruises Ltd.
 2,299 241,349
Starbucks Corp.
 4,359 247,025
Vail Resorts Inc.
 1,046 251,866
Wyndham Worldwide Corp.
 2,339 253,641
Wynn Resorts Ltd.
 1,300 254,813
Yum! Brands Inc.
 3,059 248,789
    4,250,505
Household Durables — 1.6%
DR Horton Inc.
 5,918 249,799
Garmin Ltd.
 4,169 250,515
Leggett & Platt Inc.
 6,064 250,443
Lennar Corp., Class A
 4,729 244,678
Mohawk Industries Inc.(a)
 1,183 241,379
Newell Brands Inc.
 9,994 235,659
NVR Inc.(a)
 83 248,215
PulteGroup Inc.
 8,286 250,652
Toll Brothers Inc.
 6,192 244,522
Whirlpool Corp.(b)
 1,671 241,877
    2,457,739
Household Products — 0.8%
Church & Dwight Co. Inc.
 5,324 249,962
Clorox Co. (The)
 2,060 248,910
Colgate-Palmolive Co.
 3,960 249,836
Kimberly-Clark Corp.
 2,394 241,435
Procter & Gamble Co. (The)
 3,397 248,558
    1,238,701
Independent Power and Renewable Electricity Producers — 0.3%
AES Corp./VA
 20,343 259,373
Vistra Energy Corp.(a)
 10,541 258,571
    517,944
Industrial Conglomerates — 0.6%
3M Co.
 1,268 250,088
General Electric Co.
 17,256 242,964
Honeywell International Inc.
 1,676 247,897
 Security   Shares Value
Industrial Conglomerates (continued)
Roper Technologies Inc.
       904 $     249,314
    990,263
Insurance — 5.2%
Aflac Inc.
     5,568      250,894
Alleghany Corp.
       438      249,905
Allstate Corp. (The)
     2,645      247,255
American Financial Group Inc./OH
     2,276      250,087
American International Group Inc.
     4,737      250,066
Aon PLC
 1,775 248,269
Arch Capital Group Ltd.(a)(b)
 3,195 250,648
Arthur J Gallagher & Co.
 3,734 247,490
Assurant Inc.
 2,616 244,204
Athene Holding Ltd., Class A, NVS(a)
 5,366 239,699
Axis Capital Holdings Ltd.
 4,390 249,572
Brighthouse Financial Inc.(a)
 5,229 246,338
Chubb Ltd.
 1,891 247,135
Cincinnati Financial Corp.
 3,585 248,691
Everest Re Group Ltd.
 1,110 250,072
FNF Group
 6,624 244,823
Hartford Financial Services Group Inc. (The)
 4,771 249,666
Lincoln National Corp.
 3,665 242,953
Loews Corp.
 5,077 248,113
Markel Corp.(a)
 222 243,552
Marsh & McLennan Companies Inc.
 3,105 249,549
MetLife Inc.
 5,290 243,287
Principal Financial Group Inc.
 4,336 241,949
Progressive Corp. (The)
 4,049 251,402
Prudential Financial Inc.
 2,524 244,424
Reinsurance Group of America Inc.
 1,683 251,508
RenaissanceRe Holdings Ltd.
 2,022 248,241
Torchmark Corp.
 2,946 249,909
Travelers Companies Inc. (The)
 1,927 247,658
Unum Group
 6,525 253,235
Willis Towers Watson PLC
 1,626 245,770
WR Berkley Corp.
 3,291 251,663
XL Group Ltd.
 4,537 252,166
    8,180,193
Internet & Direct Marketing Retail — 1.0%
Amazon.com Inc.(a)
 157 255,850
Booking Holdings Inc.(a)
 120 253,071
Expedia Group Inc.
 2,143 259,367
Netflix Inc.(a)
 719 252,800
Qurate Retail Inc., Class A(a)
 11,959 243,127
TripAdvisor Inc.(a)
 5,102 266,018
    1,530,233
Internet Software & Services — 1.6%
Akamai Technologies Inc.(a)
 3,300 248,754
Alphabet Inc., Class A(a)
 114 125,400
Alphabet Inc., Class C, NVS(a)
 120 130,199
eBay Inc.(a)
 6,654 250,989
Facebook Inc., Class A(a)
 1,365 261,780
GoDaddy Inc., Class A(a)
 3,555 254,502
IAC/InterActiveCorp.(a)
 1,657 257,067
MercadoLibre Inc.
 802 233,246
Twitter Inc.(a)
 7,507 260,493
VeriSign Inc.(a)
 1,965 256,314
Zillow Group Inc., Class C, NVS(a)(b)
 4,496 262,252
    2,540,996
 
 
191
  

iShares® MSCI USA Equal Weighted ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
IT Services — 3.9%
Accenture PLC, Class A
     1,618 $     251,987
Alliance Data Systems Corp.
     1,185      249,822
Automatic Data Processing Inc.
     1,932      251,199
Broadridge Financial Solutions Inc.
     2,178      251,450
Cognizant Technology Solutions Corp., Class A
     3,331      250,991
DXC Technology Co.
     2,680      246,855
Fidelity National Information Services Inc.
     2,440      249,417
First Data Corp., Class A(a)
    13,094      248,786
Fiserv Inc.(a)
 3,518 255,407
FleetCor Technologies Inc.(a)
 1,249 248,988
Gartner Inc.(a)
 1,932 256,454
Global Payments Inc.
 2,260 251,222
International Business Machines Corp.
 1,758 248,423
Jack Henry & Associates Inc.
 2,079 260,000
Leidos Holdings Inc.
 4,190 251,651
Mastercard Inc., Class A
 1,321 251,148
Paychex Inc.
 3,828 251,040
PayPal Holdings Inc.(a)
 3,118 255,894
Sabre Corp.
 10,541 258,360
Square Inc., Class A(a)
 4,527 263,698
Total System Services Inc.
 2,931 249,692
Visa Inc., Class A(b)
 1,923 251,374
Western Union Co. (The)
 12,623 251,071
Worldpay Inc., Class A(a)
 3,192 253,668
    6,058,597
Leisure Products — 0.5%
Hasbro Inc.
 2,881 249,927
Mattel Inc.(b)
 16,576 257,259
Polaris Industries Inc.
 2,222 248,642
    755,828
Life Sciences Tools & Services — 1.0%
Agilent Technologies Inc.
 3,998 247,556
Illumina Inc.(a)
 948 258,273
IQVIA Holdings Inc.(a)
 2,524 249,699
Mettler-Toledo International Inc.(a)
 455 250,587
Thermo Fisher Scientific Inc.
 1,187 247,217
Waters Corp.(a)
 1,324 255,029
    1,508,361
Machinery — 3.0%
AGCO Corp.
 3,742 237,991
Caterpillar Inc.
 1,620 246,094
Cummins Inc.
 1,723 245,338
Deere & Co.
 1,588 237,422
Dover Corp.
 3,190 246,300
Flowserve Corp.
 5,971 246,841
Fortive Corp.
 3,343 243,003
IDEX Corp.
 1,807 250,595
Illinois Tool Works Inc.
 1,712 246,014
Ingersoll-Rand PLC
 2,811 246,075
Middleby Corp. (The)(a)
 2,428 241,877
PACCAR Inc.
 3,906 243,070
Parker-Hannifin Corp.
 1,425 243,533
Pentair PLC
 5,606 244,646
Snap-on Inc.
 1,669 246,712
Stanley Black & Decker Inc.
 1,722 239,771
WABCO Holdings Inc.(a)
 2,005 242,465
Wabtec Corp./DE(b)
 2,594 252,941
Xylem Inc./NY
 3,536 248,934
    4,649,622
 Security   Shares Value
Media — 2.9%
CBS Corp., Class B, NVS
     4,953 $     249,483
Charter Communications Inc., Class A(a)
       934      243,811
Comcast Corp., Class A
     7,951      247,912
Discovery Inc., Class A(a)(b)
     3,975       83,833
Discovery Inc., Class C, NVS(a)
     7,812      154,443
DISH Network Corp., Class A(a)
     8,221      242,931
Interpublic Group of Companies Inc. (The)
    10,967      247,854
Liberty Broadband Corp., Class C, NVS(a)
     3,541      243,869
Liberty Global PLC, Series A(a)(b)
 2,383 67,939
Liberty Global PLC, Series C, NVS(a)
 6,621 183,269
Liberty Media Corp.-Liberty Formula One, Class C, NVS(a)
 8,189 258,609
Liberty Media Corp.-Liberty SiriusXM, Class A(a)
 1,802 83,343
Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a)
 3,692 170,533
Live Nation Entertainment Inc.(a)
 5,821 248,149
News Corp., Class A, NVS
 16,204 243,546
Omnicom Group Inc.
 3,508 252,857
Sirius XM Holdings Inc.(b)
 36,325 257,907
Time Warner Inc.
 2,681 252,443
Twenty-First Century Fox Inc., Class A, NVS
 4,584 176,713
Twenty-First Century Fox Inc., Class B
 1,910 72,905
Viacom Inc., Class B, NVS
 9,180 248,778
Walt Disney Co. (The)
 2,470 245,691
    4,476,818
Metals & Mining — 0.6%
Freeport-McMoRan Inc.
 14,781 249,799
Newmont Mining Corp.
 6,401 249,191
Nucor Corp.
 3,947 253,358
Steel Dynamics Inc.
 5,106 252,389
    1,004,737
Mortgage Real Estate Investment — 0.3%
AGNC Investment Corp.
 13,225 248,895
Annaly Capital Management Inc.
 24,136 251,738
    500,633
Multi-Utilities — 1.8%
Ameren Corp.
 4,288 253,807
CenterPoint Energy Inc.
 9,717 253,905
CMS Energy Corp.
 5,534 255,283
Consolidated Edison Inc.
 3,326 255,204
Dominion Energy Inc.
 3,934 252,523
DTE Energy Co.
 2,471 253,105
NiSource Inc.
 10,058 254,467
Public Service Enterprise Group Inc.
 4,818 255,258
SCANA Corp.
 7,050 255,915
Sempra Energy
 2,400 255,672
WEC Energy Group Inc.
 4,038 255,000
    2,800,139
Multiline Retail — 0.9%
Dollar General Corp.
 2,599 227,361
Dollar Tree Inc.(a)
 2,652 219,029
Kohl's Corp.
 3,867 258,122
Macy's Inc.
 7,397 258,229
Nordstrom Inc.
 5,160 252,995
Target Corp.
 3,545 258,395
    1,474,131
Oil, Gas & Consumable Fuels — 5.3%
Anadarko Petroleum Corp.
 3,735 260,703
Andeavor
 1,788 258,241
Antero Resources Corp.(a)
 13,818 264,062
Apache Corp.
 6,427 257,080
 
 
  
192

iShares® MSCI USA Equal Weighted ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Oil, Gas & Consumable Fuels (continued)
Cabot Oil & Gas Corp.
    11,220 $     256,377
Cheniere Energy Inc.(a)
     4,061      270,544
Chevron Corp.
     2,066      256,804
Cimarex Energy Co.
     2,742      254,787
Concho Resources Inc.(a)
     1,809      248,394
ConocoPhillips
     3,856      259,856
Continental Resources Inc./OK(a)(b)
     3,900      262,626
Devon Energy Corp.
     6,221      258,607
Diamondback Energy Inc.
 2,098 253,354
EOG Resources Inc.
 2,144 252,585
EQT Corp.
 5,026 259,040
Exxon Mobil Corp.
 3,207 260,537
Hess Corp.
 4,267 257,812
HollyFrontier Corp.
 3,473 268,046
Kinder Morgan Inc./DE
 15,888 265,012
Marathon Oil Corp.
 12,190 261,232
Marathon Petroleum Corp.
 3,279 259,139
Newfield Exploration Co.(a)
 9,013 263,540
Noble Energy Inc.
 7,144 255,041
Occidental Petroleum Corp.
 3,064 257,989
ONEOK Inc.
 3,832 261,189
Parsley Energy Inc., Class A(a)
 8,581 252,968
Phillips 66
 2,184 254,414
Pioneer Natural Resources Co.
 1,324 255,664
Plains GP Holdings LP, Class A
 10,648 261,621
Targa Resources Corp.
 5,396 262,407
Valero Energy Corp.
 2,126 257,671
Williams Companies Inc. (The)
 9,354 251,248
    8,278,590
Personal Products — 0.3%
Coty Inc., Class A
 18,468 244,701
Estee Lauder Companies Inc. (The), Class A
 1,674 250,163
    494,864
Pharmaceuticals — 1.8%
Allergan PLC
 1,639 247,161
Bristol-Myers Squibb Co.
 4,784 251,734
Eli Lilly & Co.
 3,050 259,372
Jazz Pharmaceuticals PLC(a)
 1,530 258,570
Johnson & Johnson
 2,078 248,570
Merck & Co. Inc.
 4,272 254,312
Mylan NV(a)
 6,411 246,567
Nektar Therapeutics(a)
 3,157 253,413
Perrigo Co. PLC
 3,355 245,452
Pfizer Inc.
 7,076 254,241
Zoetis Inc.
 3,017 252,523
    2,771,915
Professional Services — 1.3%
CoStar Group Inc.(a)
 663 252,749
Equifax Inc.
 2,191 249,686
IHS Markit Ltd.(a)
 5,054 249,061
ManpowerGroup Inc.
 2,732 245,880
Nielsen Holdings PLC
 8,415 253,881
Robert Half International Inc.
 3,968 252,682
TransUnion
 3,694 253,408
Verisk Analytics Inc.(a)
 2,379 252,745
    2,010,092
Real Estate Management & Development — 0.3%
CBRE Group Inc., Class A(a)
 5,308 245,176
 Security   Shares Value
Real Estate Management & Development (continued)
Jones Lang LaSalle Inc.
     1,484 $     243,020
    488,196
Road & Rail — 1.3%
AMERCO
       713      230,256
CSX Corp.
     3,903      252,329
JB Hunt Transport Services Inc.
     1,966      251,845
Kansas City Southern
     2,253      241,409
Knight-Swift Transportation Holdings Inc.
     6,241      253,884
Norfolk Southern Corp.
 1,650 250,222
Old Dominion Freight Line Inc.
 1,637 255,307
Union Pacific Corp.
 1,740 248,402
    1,983,654
Semiconductors & Semiconductor Equipment — 2.9%
Advanced Micro Devices Inc.(a)
 18,645 255,996
Analog Devices Inc.
 2,645 257,041
Applied Materials Inc.
 4,965 252,123
Broadcom Inc.
 1,010 254,591
Intel Corp.
 4,554 251,381
KLA-Tencor Corp.
 2,208 250,012
Lam Research Corp.
 1,250 247,725
Marvell Technology Group Ltd.
 11,225 241,787
Maxim Integrated Products Inc.
 4,266 250,201
Microchip Technology Inc.
 2,635 256,596
Micron Technology Inc.(a)
 4,115 236,983
NVIDIA Corp.
 1,013 255,468
ON Semiconductor Corp.(a)
 9,766 245,420
Qorvo Inc.(a)
 3,098 248,614
QUALCOMM Inc.
 4,210 244,685
Skyworks Solutions Inc.
 2,515 248,004
Texas Instruments Inc.
 2,263 253,252
Xilinx Inc.
 3,626 246,967
    4,496,846
Software — 3.9%
Activision Blizzard Inc.
 3,533 250,525
Adobe Systems Inc.(a)
 1,037 258,503
ANSYS Inc.(a)
 1,553 252,828
Autodesk Inc.(a)(b)
 1,902 245,548
CA Inc.
 7,124 254,612
Cadence Design Systems Inc.(a)
 5,977 253,724
CDK Global Inc.
 3,960 254,826
Citrix Systems Inc.(a)
 2,369 250,214
Dell Technologies Inc., Class V(a)
 3,078 248,271
Electronic Arts Inc.(a)
 1,915 250,693
Fortinet Inc.(a)
 4,182 255,855
Intuit Inc.
 1,281 258,250
Microsoft Corp.
 2,567 253,722
Oracle Corp.
 5,371 250,933
Red Hat Inc.(a)
 1,529 248,340
salesforce.com Inc.(a)
 1,973 255,168
ServiceNow Inc.(a)
 1,429 253,805
Splunk Inc.(a)
 2,290 253,755
SS&C Technologies Holdings Inc.
 5,029 256,026
Symantec Corp.
 11,988 249,111
Synopsys Inc.(a)
 2,858 251,704
Take-Two Interactive Software Inc.(a)
 2,254 252,628
VMware Inc., Class A(a)(b)
 1,850 254,338
Workday Inc., Class A(a)
 1,930 252,753
    6,066,132
 
 
193
  

iShares® MSCI USA Equal Weighted ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security   Shares Value
Specialty Retail — 2.3%
Advance Auto Parts Inc.
     2,021 $     259,941
AutoZone Inc.(a)
       398      258,429
Best Buy Co. Inc.
     3,688      251,706
CarMax Inc.(a)(b)
     3,752      258,588
Gap Inc. (The)
     8,968      250,925
Home Depot Inc. (The)
     1,347      251,283
L Brands Inc.
     7,112      241,168
Lowe's Companies Inc.
     2,611      248,071
O'Reilly Automotive Inc.(a)
 941 253,515
Ross Stores Inc.
 3,264 257,464
Tiffany & Co.
 1,954 255,544
TJX Companies Inc. (The)
 2,865 258,767
Tractor Supply Co.
 3,442 255,775
Ulta Salon Cosmetics & Fragrance Inc.(a)
 1,006 248,391
    3,549,567
Technology Hardware, Storage & Peripherals — 1.1%
Apple Inc.
 1,339 250,219
Hewlett Packard Enterprise Co.
 16,267 247,909
HP Inc.
 11,523 253,852
NetApp Inc.
 3,760 256,883
Seagate Technology PLC
 4,393 247,546
Western Digital Corp.
 2,924 244,183
Xerox Corp.
 9,045 245,843
    1,746,435
Textiles, Apparel & Luxury Goods — 1.4%
Hanesbrands Inc.
 13,879 253,014
Lululemon Athletica Inc.(a)
 2,378 249,809
Michael Kors Holdings Ltd.(a)
 3,678 211,081
NIKE Inc., Class B
 3,494 250,869
PVH Corp.
 1,600 256,000
Ralph Lauren Corp.
 1,839 247,493
Tapestry Inc.
 5,700 249,204
Under Armour Inc., Class A(a)(b)
 6,517 136,205
Under Armour Inc., Class C, NVS(a)
 6,422 121,504
VF Corp.
 3,089 250,703
    2,225,882
Thrifts & Mortgage Finance — 0.2%
New York Community Bancorp. Inc.
 21,233 246,090
Tobacco — 0.3%
Altria Group Inc.
 4,538 252,948
 Security   Shares Value
Tobacco (continued)
Philip Morris International Inc.
     3,142 $     249,915
    502,863
Trading Companies & Distributors — 0.6%
Fastenal Co.
     4,809      255,983
HD Supply Holdings Inc.(a)
     6,246      254,399
United Rentals Inc.(a)
     1,559      248,770
WW Grainger Inc.
       815     251,827
    1,010,979
Water Utilities — 0.2%
American Water Works Co. Inc.
 3,042 252,912
Wireless Telecommunication Services — 0.3%
Sprint Corp.(a)(b)
 49,021 251,968
T-Mobile U.S. Inc.(a)
 4,461 248,478
    500,446
Total Common Stocks — 99.8%

(Cost: $141,618,687)
 156,438,127
Short-Term Investments
Money Market Funds — 3.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(c)(d)(e)
 4,612,244 4,613,166
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(c)(d)
 152,735 152,735
    4,765,901
Total Short-Term Investments — 3.1%

(Cost: $4,765,110)
 4,765,901
Total Investments in Securities — 102.9%

(Cost: $146,383,797)
 161,204,028
Other Assets, Less Liabilities — (2.9)%
 (4,476,621)
Net Assets — 100.0%
 $ 156,727,407
    
(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 cash collateral received from loaned securities.
 
 
  
194

iShares® MSCI USA Equal Weighted ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Shares
Purchased 		Shares
Sold 		Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 7,464,215 — (2,851,971) (a) 4,612,244 $4,613,166   $22,899 (b)   $ (676)   $ 93
BlackRock Cash Funds: Treasury, SL Agency Shares
 69,879 82,856 (a) — 152,735 152,735   1,369   —   —
BlackRock Inc.
 515 173 (221) 467 249,485   2,310   27,971   26,598
PNC Financial Services Group Inc. (The)
 1,677 736 (709) 1,704 244,371   3,518   29,807   571
          $5,259,757   $30,096   $ 57,102   $ 27,262
    
(a) Net of purchases and sales.
(b) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $156,438,127   $         —   $         —   $156,438,127
Money Market Funds
   4,765,901            —            —     4,765,901
  $161,204,028   $         —   $         —   $161,204,028
Portfolio Abbreviations - Equity
NVS
 Non-Voting Shares
195
  

iShares® MSCI World ETF
Schedule of Investments (unaudited)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Common Stocks
Australia — 2.5%
AGL Energy Ltd.
    11,956 $     199,928
Amcor Ltd./Australia
    19,276      205,068
AMP Ltd.
    41,480      122,405
APA Group
    20,406      134,175
Aristocrat Leisure Ltd.
     6,283      142,811
ASX Ltd.
     3,663      168,043
Aurizon Holdings Ltd.
    32,513      106,030
Australia & New Zealand Banking Group Ltd.
 36,173 744,746
Bendigo & Adelaide Bank Ltd.
 10,187 82,938
BHP Billiton Ltd.
 42,578 1,056,384
BlueScope Steel Ltd.
 9,411 123,760
Brambles Ltd.
 22,753 155,461
Cochlear Ltd.
 1,647 244,443
Commonwealth Bank of Australia
 21,550 1,129,992
Computershare Ltd.
 8,723 114,448
Crown Resorts Ltd.
 7,015 70,595
CSL Ltd.
 6,588 926,427
Dexus
 19,655 147,084
Fortescue Metals Group Ltd.
 22,696 80,541
Goodman Group
 32,696 231,066
GPT Group (The)
 40,504 154,156
Incitec Pivot Ltd.
 37,271 97,012
Insurance Australia Group Ltd.
 36,539 224,772
James Hardie Industries PLC
 9,036 151,578
LendLease Group
 12,871 182,895
Macquarie Group Ltd.
 4,341 375,530
Medibank Pvt Ltd.
 45,630 101,161
Mirvac Group
 91,805 159,768
National Australia Bank Ltd.
 33,367 676,623
Newcrest Mining Ltd.
 12,688 199,304
Oil Search Ltd.
 21,494 134,499
OneMarket Ltd., NVS(a)
 1,385 1,603
Orica Ltd.
 7,015 93,791
Origin Energy Ltd.(a)
 32,635 237,055
QBE Insurance Group Ltd.
 19,459 139,580
Ramsay Health Care Ltd.
 2,501 116,060
Rio Tinto Ltd.
 4,209 264,238
Santos Ltd.(a)
 26,243 116,361
Scentre Group
 73,404 232,162
Sonic Healthcare Ltd.
 8,296 147,890
South32 Ltd.
 82,598 232,492
Stockland
 45,695 143,487
Suncorp Group Ltd.
 16,426 166,918
Sydney Airport
 17,814 98,127
Tabcorp Holdings Ltd.
 24,107 79,711
Telstra Corp. Ltd.
 52,544 111,321
Transurban Group
 35,493 318,778
Treasury Wine Estates Ltd.
 7,747 97,188
Vicinity Centres
 60,756 122,743
Wesfarmers Ltd.
 14,152 487,861
Westpac Banking Corp.
 42,155 888,320
Woodside Petroleum Ltd.
 10,921 267,816
Woolworths Group Ltd.
 16,897 363,864
    13,371,009
Austria — 0.1%
ANDRITZ AG
 1,769 88,173
Erste Group Bank AG
 5,002 208,330
OMV AG
 3,721 213,701
 Security Shares Value
Austria (continued)
Raiffeisen Bank International AG(a)
     2,417 $      76,431
    586,635
Belgium — 0.4%
Ageas
     3,782      191,599
Anheuser-Busch InBev SA/NV
     9,638      902,510
Colruyt SA
     1,952      103,607
Groupe Bruxelles Lambert SA
     1,037      109,816
KBC Group NV
     3,675      283,986
Proximus SADP
 3,111 83,197
Solvay SA
 1,044 140,146
UCB SA
 2,135 168,222
Umicore SA
 4,514 255,029
    2,238,112
Canada — 3.5%
Agnico Eagle Mines Ltd.
 4,087 183,335
Alimentation Couche-Tard Inc., Class B
 5,856 244,406
ARC Resources Ltd.
 6,161 63,453
Bank of Montreal
 8,296 642,345
Bank of Nova Scotia (The)
 15,311 923,476
Barrick Gold Corp.
 14,367 189,057
BCE Inc.
 854 35,557
BlackBerry Ltd.(a)
 9,089 107,552
Bombardier Inc., Class B(a)
 23,163 87,138
Brookfield Asset Management Inc., Class A
 11,468 457,146
Cameco Corp.
 7,991 82,608
Canadian Imperial Bank of Commerce
 5,429 473,761
Canadian National Railway Co.
 10,614 885,727
Canadian Natural Resources Ltd.
 14,640 506,622
Canadian Pacific Railway Ltd.
 2,074 399,723
Canadian Tire Corp. Ltd., Class A, NVS
 1,342 170,781
Canadian Utilities Ltd., Class A, NVS
 2,928 71,033
Cenovus Energy Inc.
 15,189 160,180
CGI Group Inc., Class A(a)
 3,660 224,899
CI Financial Corp.
 4,514 87,482
Constellation Software Inc./Canada
 366 288,133
Crescent Point Energy Corp.
 12,749 102,605
Dollarama Inc.
 1,098 126,670
Enbridge Inc.
 24,019 746,011
Encana Corp.
 14,457 183,889
Fairfax Financial Holdings Ltd.
 366 205,408
Finning International Inc.
 4,331 107,674
First Quantum Minerals Ltd.
 9,428 147,903
Fortis Inc./Canada
 5,795 185,081
Franco-Nevada Corp.
 2,806 197,774
George Weston Ltd.
 1,525 123,733
Gildan Activewear Inc.
 3,721 107,712
Goldcorp Inc.
 12,017 171,658
Great-West Lifeco Inc.
 3,660 92,854
Husky Energy Inc.
 6,060 87,406
IGM Financial Inc.
 1,769 52,257
Imperial Oil Ltd.
 4,636 151,603
Intact Financial Corp.
 1,952 147,544
Inter Pipeline Ltd.
 9,288 175,349
Loblaw Companies Ltd.
 3,416 176,567
Magna International Inc.
 5,307 340,136
Manulife Financial Corp.
 25,620 483,091
Metro Inc.
 5,490 181,053
National Bank of Canada
 5,124 244,982
Nutrien Ltd.
 8,872 448,730
 
 
  
196

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Canada (continued)
Onex Corp.
     2,257 $     161,933
Open Text Corp.
     4,514      157,391
Pembina Pipeline Corp.
     7,442      258,737
Power Corp. of Canada
     5,002      116,490
Power Financial Corp.
     3,538       88,123
PrairieSky Royalty Ltd.
     4,941      101,814
Restaurant Brands International Inc.
     3,599      212,439
RioCan REIT
     4,880       88,594
Rogers Communications Inc., Class B, NVS
 5,612 263,252
Royal Bank of Canada
 18,422 1,391,733
Saputo Inc.
 5,124 177,989
Shaw Communications Inc., Class B, NVS
 6,289 126,536
Shopify Inc., Class A(a)
 1,206 178,808
SNC-Lavalin Group Inc.
 2,867 125,006
Sun Life Financial Inc.
 7,625 315,004
Suncor Energy Inc.
 22,031 877,028
Teck Resources Ltd., Class B
 6,405 173,654
TELUS Corp.
 2,411 84,734
Thomson Reuters Corp.
 4,026 156,453
Toronto-Dominion Bank (The)
 23,241 1,356,262
Tourmaline Oil Corp.
 3,599 71,747
TransCanada Corp.
 11,712 490,077
Valeant Pharmaceuticals International Inc.(a)
 5,063 111,353
Vermilion Energy Inc.
 2,684 94,039
Waste Connections Inc.
 4,484 344,730
Wheaton Precious Metals Corp.
 7,137 155,922
    18,951,952
Denmark — 0.6%
AP Moller - Maersk A/S, Class A(b)
 183 256,855
Carlsberg A/S, Class B
 1,870 207,630
Coloplast A/S, Class B
 2,318 220,002
Danske Bank A/S
 9,924 329,008
DSV A/S
 4,584 380,577
Genmab A/S(a)
 943 141,674
Novo Nordisk A/S, Class B
 25,254 1,197,838
Novozymes A/S, Class B
 4,209 214,260
Pandora A/S
 1,775 139,516
Vestas Wind Systems A/S
 3,310 216,720
William Demant Holding A/S(a)(b)
 4,026 146,353
    3,450,433
Finland — 0.4%
Elisa OYJ
 3,294 147,075
Fortum OYJ
 3,843 90,212
Kone OYJ, Class B
 4,880 241,243
Metso OYJ
 3,320 114,790
Neste OYJ
 1,320 107,273
Nokia OYJ
 78,590 453,186
Sampo OYJ, Class A
 5,124 251,691
Stora Enso OYJ, Class R
 9,882 201,925
UPM-Kymmene OYJ
 8,113 297,462
Wartsila OYJ Abp
 9,516 200,889
    2,105,746
France — 3.8%
Accor SA, NVS
 3,172 173,322
Air Liquide SA
 5,525 679,760
Airbus SE
 7,930 900,768
Alstom SA, NVS
 3,782 178,796
Atos SE
 2,013 273,044
AXA SA, NVS
 24,278 604,344
 Security Shares Value
France (continued)
BNP Paribas SA
    14,580 $     903,040
Bollore SA, NVS
    28,975      142,460
Bouygues SA, NVS
     3,050      140,773
Bureau Veritas SA, NVS
     5,003      123,866
Capgemini SE
     2,318      304,808
Carrefour SA, NVS
     9,150      164,751
Casino Guichard Perrachon SA, NVS
     2,013       86,942
Cie. de Saint-Gobain, NVS
     6,344      317,504
Cie. Generale des Etablissements Michelin SCA, Class B, NVS
 2,623 338,944
Credit Agricole SA
 15,128 207,316
Danone SA, NVS(b)
 7,686 586,670
Dassault Systemes SE, NVS
 2,318 325,102
Edenred, NVS(b)
 4,209 134,768
Electricite de France SA, NVS
 6,511 86,643
Engie SA
 22,265 351,774
Essilor International Cie Generale d'Optique SA, NVS
 2,867 391,223
Eutelsat Communications SA
 3,965 76,044
Getlink, NVS
 11,529 155,976
Hermes International, NVS
 497 353,194
Iliad SA, NVS
 610 103,212
Ingenico Group SA, NVS
 854 68,186
Ipsen SA, NVS
 475 75,269
Kering SA, NVS
 1,220 697,385
Klepierre SA
 4,172 162,268
Legrand SA
 4,209 317,096
L'Oreal SA
 3,172 761,270
LVMH Moet Hennessy Louis Vuitton SE, NVS
 3,721 1,290,243
Orange SA, NVS
 25,498 438,272
Pernod Ricard SA, NVS
 3,050 511,610
Peugeot SA, NVS
 7,259 169,003
Publicis Groupe SA, NVS
 2,806 195,020
Renault SA, NVS
 2,637 254,349
Safran SA
 4,392 523,701
Sanofi, NVS
 15,433 1,182,320
Schneider Electric SE, NVS
 7,278 626,806
SCOR SE
 2,684 98,941
SES SA(b)
 5,734 98,893
Societe BIC SA, NVS
 610 59,243
Societe Generale SA, NVS
 10,370 446,126
Sodexo SA, NVS
 1,525 147,787
STMicroelectronics NV
 11,157 265,160
Suez
 6,710 92,268
Thales SA, NVS
 1,952 248,136
TOTAL SA, NVS
 29,280 1,778,993
Ubisoft Entertainment SA, NVS(a)
 1,077 116,440
Unibail-Rodamco SE
 1,299 291,968
Unibail-Rodamco SE & WFD Unibail-Rodamco NV, NVS(a)
 10,214 113,680
Valeo SA, NVS
 3,843 243,676
Veolia Environnement SA, NVS
 6,893 156,257
Vinci SA
 6,527 637,860
Vivendi SA, NVS
 14,884 373,890
    20,547,160
Germany — 3.3%
1&1 Drillisch AG
 893 61,710
adidas AG
 2,562 578,984
Allianz SE, Registered
 5,795 1,193,123
BASF SE
 11,956 1,175,813
Bayer AG, Registered
 11,041 1,312,788
Bayerische Motoren Werke AG
 4,026 401,247
 
 
197
  

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Germany (continued)
Beiersdorf AG
     2,650 $     303,952
Brenntag AG
     3,294      189,717
Commerzbank AG(a)
    19,094      194,868
Continental AG
     1,482      375,570
Covestro AG(c)
     1,948      177,228
Daimler AG, Registered
    11,913      857,725
Deutsche Bank AG, Registered
    27,049      289,126
Deutsche Boerse AG
     2,909      388,465
Deutsche Lufthansa AG, Registered
 4,379 118,845
Deutsche Post AG, Registered
 13,969 529,456
Deutsche Telekom AG, Registered
 41,420 639,181
E.ON SE
 32,419 343,309
Fresenius Medical Care AG & Co. KGaA
 3,355 334,530
Fresenius SE & Co. KGaA
 5,734 440,151
GEA Group AG
 3,172 116,634
Hannover Rueck SE
 1,220 153,803
HeidelbergCement AG
 2,440 215,894
Henkel AG & Co. KGaA
 1,769 199,165
Infineon Technologies AG
 18,666 511,819
LANXESS AG
 2,257 178,309
Linde AG
 2,684 614,074
MAN SE
 1,403 152,472
Merck KGaA
 2,257 230,106
MTU Aero Engines AG
 453 85,505
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered
 2,013 414,265
OSRAM Licht AG
 2,136 125,864
ProSiebenSat.1 Media SE
 3,610 106,065
Puma SE
 101 61,189
QIAGEN NV(a)
 5,170 187,445
RWE AG
 9,211 208,535
SAP SE
 13,115 1,474,882
Siemens AG, Registered
 10,126 1,317,939
thyssenkrupp AG
 6,771 178,388
TUI AG
 8,174 190,017
United Internet AG, Registered(d)
 1,431 91,204
Vonovia SE
 11,712 551,778
Wirecard AG
 1,451 223,829
Zalando SE(a)(c)
 2,379 126,493
    17,621,462
Hong Kong — 1.4%
AIA Group Ltd.
 170,800 1,567,742
Bank of East Asia Ltd. (The)(b)
 48,800 202,500
BOC Hong Kong Holdings Ltd.
 91,500 460,174
CK Asset Holdings Ltd.
 57,500 480,135
CK Hutchison Holdings Ltd.
 30,500 344,304
CLP Holdings Ltd.
 30,500 320,392
Galaxy Entertainment Group Ltd.
 47,000 413,729
Hang Seng Bank Ltd.
 18,300 457,958
Hong Kong & China Gas Co. Ltd.
 219,497 474,579
Hong Kong Exchanges & Clearing Ltd.(b)
 16,000 517,685
Jardine Matheson Holdings Ltd.
 6,100 380,884
Li & Fung Ltd.
 130,000 50,547
Link REIT
 30,500 269,844
Melco Resorts & Entertainment Ltd., ADR
 6,051 197,626
Minth Group Ltd.(b)
 8,000 36,817
MTR Corp. Ltd.
 61,000 343,332
New World Development Co. Ltd.
 183,333 281,398
Sands China Ltd.
 48,800 292,085
Sun Hung Kai Properties Ltd.
 8,000 129,115
 Security Shares Value
Hong Kong (continued)
WH Group Ltd.(c)
    92,500 $      94,928
Wynn Macau Ltd.
     9,200      35,303
    7,351,077
Ireland — 0.2%
AIB Group PLC
    13,279       72,450
Bank of Ireland Group PLC
    15,570      128,496
CRH PLC
    11,163      411,766
Kerry Group PLC, Class A
     2,684      282,443
Paddy Power Betfair PLC
 1,232 149,564
Smurfit Kappa Group PLC
 3,242 133,967
    1,178,686
Isreal — 0.2%
Bank Hapoalim BM
 32,635 225,167
Check Point Software Technologies Ltd.(a)(b)
 2,013 195,986
Nice Ltd.(a)
 1,708 179,137
Teva Pharmaceutical Industries Ltd., ADR, NVS(b)
 12,505 268,857
    869,147
Italy — 0.9%
Assicurazioni Generali SpA
 15,982 271,442
Atlantia SpA
 7,564 218,882
CNH Industrial NV
 18,020 210,768
Enel SpA
 107,319 589,161
Eni SpA
 33,367 603,325
Ferrari NV
 2,372 308,725
Fiat Chrysler Automobiles NV(a)
 15,128 342,583
Intesa Sanpaolo SpA
 201,361 591,030
Leonardo SpA
 3,996 40,693
Luxottica Group SpA
 2,440 151,753
Mediobanca Banca di Credito Finanziario SpA
 12,435 117,110
Snam SpA
 49,084 200,994
Telecom Italia SpA/Milano(a)(b)
 234,915 188,441
Tenaris SA
 7,991 143,183
Terna Rete Elettrica Nazionale SpA
 30,073 159,057
UniCredit SpA
 27,354 451,303
    4,588,450
Japan — 8.7%
Aeon Co. Ltd.
 12,200 242,439
Aisin Seiki Co. Ltd.
 6,100 307,681
Ajinomoto Co. Inc.
 12,200 233,512
Alps Electric Co. Ltd.
 800 19,027
ANA Holdings Inc.
 6,100 246,032
Asahi Group Holdings Ltd.
 10,000 524,276
Asahi Kasei Corp.
 28,200 388,173
Astellas Pharma Inc.
 36,600 560,732
Bridgestone Corp.
 12,200 490,156
Canon Inc.
 18,300 625,581
Casio Computer Co. Ltd.
 6,400 98,081
Central Japan Railway Co.
 2,200 455,815
Chubu Electric Power Co. Inc.
 18,300 283,903
Chugai Pharmaceutical Co. Ltd.
 6,100 345,299
Chugoku Electric Power Co. Inc. (The)
 18,300 239,688
Concordia Financial Group Ltd.
 24,400 137,670
Daifuku Co. Ltd.
 1,000 52,004
Dai-ichi Life Holdings Inc.
 15,000 280,340
Daiichi Sankyo Co. Ltd.
 7,000 225,183
Daikin Industries Ltd.
 6,100 706,319
Daiwa House Industry Co. Ltd.
 12,200 443,218
Denso Corp.
 6,100 297,013
Dentsu Inc.
 5,000 239,312
 
 
  
198

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Japan (continued)
East Japan Railway Co.
     6,100 $     603,852
Eisai Co. Ltd.
     6,100      442,263
FANUC Corp.
     2,700      578,296
Fast Retailing Co. Ltd.
       700      307,524
FUJIFILM Holdings Corp.
     6,100      234,803
Fujitsu Ltd.
    40,000      245,460
Hakuhodo DY Holdings Inc.
    12,200      185,507
Hitachi Ltd.
    61,000      447,260
Honda Motor Co. Ltd.
 24,400 774,143
Hoya Corp.
 6,100 363,434
Hulic Co. Ltd.
 12,200 125,431
Idemitsu Kosan Co. Ltd.
 900 30,277
Iida Group Holdings Co. Ltd.
 6,100 116,728
Inpex Corp.
 24,400 272,646
ITOCHU Corp.
 24,400 459,500
Japan Airlines Co. Ltd.
 6,100 236,825
Japan Exchange Group Inc.
 12,200 232,333
Japan Post Holdings Co. Ltd.
 18,300 210,043
Japan Retail Fund Investment Corp.
 122 221,665
Japan Tobacco Inc.
 18,300 494,535
JFE Holdings Inc.
 12,200 252,882
JTEKT Corp.
 6,100 89,104
JXTG Holdings Inc.
 54,900 355,186
Kansai Electric Power Co. Inc. (The)
 16,100 232,064
Kao Corp.
 6,100 473,986
KDDI Corp.
 24,400 661,514
Keyence Corp.
 1,000 615,123
Kirin Holdings Co. Ltd.
 12,200 347,545
Kobe Steel Ltd.
 6,100 61,368
Komatsu Ltd.
 16,900 557,967
Konami Holdings Corp.
 2,900 136,398
Konica Minolta Inc.
 14,500 132,661
Kose Corp.
 200 43,573
Kubota Corp.
 18,300 308,748
Kuraray Co. Ltd.
 18,300 280,955
Kyocera Corp.
 6,100 362,480
Kyushu Electric Power Co. Inc.
 12,200 144,408
M3 Inc.
 6,100 255,746
Marubeni Corp.
 36,600 285,806
Marui Group Co. Ltd.
 6,100 124,139
Mazda Motor Corp.
 12,200 153,840
MINEBEA MITSUMI Inc.
 6,100 116,110
Mitsubishi Chemical Holdings Corp.
 36,600 339,572
Mitsubishi Corp.
 24,400 680,716
Mitsubishi Electric Corp.
 28,200 401,022
Mitsubishi Estate Co. Ltd.
 13,400 243,715
Mitsubishi Heavy Industries Ltd.
 6,100 231,322
Mitsubishi Motors Corp.
 12,200 92,529
Mitsubishi UFJ Financial Group Inc.
 171,400 1,034,600
Mitsubishi UFJ Lease & Finance Co. Ltd.
 24,400 146,205
Mitsui & Co. Ltd.
 30,600 539,925
Mitsui Fudosan Co. Ltd.
 12,200 307,120
Mizuho Financial Group Inc.
 372,100 649,707
MS&AD Insurance Group Holdings Inc.
 8,000 255,069
Murata Manufacturing Co. Ltd.
 2,700 402,223
Nagoya Railroad Co. Ltd.
 6,100 157,097
NEC Corp.
 3,000 84,771
Nexon Co. Ltd.(a)
 2,800 46,415
Nidec Corp.
 4,700 730,448
Nikon Corp.
 12,200 198,196
 Security Shares Value
Japan (continued)
Nintendo Co. Ltd.
     1,600 $     662,709
Nippon Paint Holdings Co. Ltd.(b)
     4,900      205,435
Nippon Steel & Sumitomo Metal Corp.
    12,247      257,295
Nippon Telegraph & Telephone Corp.
    12,200      573,365
Nissan Motor Co. Ltd.
    42,700      424,661
Nitori Holdings Co. Ltd.
       900      155,032
Nitto Denko Corp.
     3,700      291,484
Nomura Holdings Inc.
    67,100      348,393
Nomura Real Estate Master Fund Inc.
 122 171,133
NTT DOCOMO Inc.
 24,400 632,880
Olympus Corp.
 6,100 216,724
Omron Corp.
 6,100 321,717
Ono Pharmaceutical Co. Ltd.(b)
 6,100 151,567
ORIX Corp.
 24,400 410,204
Otsuka Holdings Co. Ltd.
 6,100 304,256
Panasonic Corp.
 36,600 501,778
Rakuten Inc.
 18,300 123,230
Recruit Holdings Co. Ltd.
 18,300 510,369
Renesas Electronics Corp.(a)
 6,100 60,750
Resona Holdings Inc.
 42,700 238,526
Ricoh Co. Ltd.
 15,200 137,947
Ryohin Keikaku Co. Ltd.
 200 68,112
Sekisui House Ltd.
 12,200 218,072
Seven & i Holdings Co. Ltd.
 12,200 541,361
Seven Bank Ltd.
 28,800 91,189
Sharp Corp./Japan(b)
 1,600 42,649
Shin-Etsu Chemical Co. Ltd.
 6,100 611,432
Shionogi & Co. Ltd.
 6,100 320,819
Shiseido Co. Ltd.(b)
 6,100 484,317
SMC Corp./Japan
 600 228,800
SoftBank Group Corp.(b)
 12,200 871,950
Sompo Holdings Inc.
 6,100 265,684
Sony Corp.
 18,300 869,143
Start Today Co. Ltd.
 2,200 76,644
Subaru Corp.
 6,100 186,967
Sumco Corp.
 2,500 60,955
Sumitomo Chemical Co. Ltd.
 5,000 30,328
Sumitomo Corp.
 18,300 307,821
Sumitomo Electric Industries Ltd.
 18,300 276,997
Sumitomo Metal Mining Co. Ltd.
 900 34,511
Sumitomo Mitsui Financial Group Inc.
 18,300 758,479
Sumitomo Mitsui Trust Holdings Inc.
 6,100 255,016
Sumitomo Realty & Development Co. Ltd.
 5,000 189,286
Suzuki Motor Corp.
 6,100 351,587
Sysmex Corp.
 4,000 361,176
T&D Holdings Inc.
 12,200 192,806
Takeda Pharmaceutical Co. Ltd.
 12,200 499,925
Terumo Corp.
 6,100 362,704
Tohoku Electric Power Co. Inc.
 12,200 155,974
Tokio Marine Holdings Inc.
 12,200 588,412
Tokyo Electric Power Co. Holdings Inc.(a)
 30,500 145,138
Tokyo Electron Ltd.
 1,700 319,205
Tokyo Gas Co. Ltd.
 12,200 332,947
Tokyu Fudosan Holdings Corp.
 24,400 180,566
Toray Industries Inc.
 6,100 50,021
Toshiba Corp.(a)
 61,000 171,807
Tosoh Corp.
 6,100 107,239
Toyota Motor Corp.
 30,500 1,942,938
Unicharm Corp.(b)
 6,100 189,830
USS Co. Ltd.
 6,100 115,717
 
 
199
  

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Japan (continued)
Yahoo Japan Corp.
    42,800 $     156,002
Yakult Honsha Co. Ltd.
       500       32,951
Yamada Denki Co. Ltd.(b)
    24,400      126,666
Yamaha Corp.
     4,800      250,946
Yamaha Motor Co. Ltd.
       900       26,094
Yamato Holdings Co. Ltd.
     6,100      175,401
Yaskawa Electric Corp.
     2,700      109,347
Yokogawa Electric Corp.
     6,100     111,675
    47,103,295
Netherlands — 1.3%
Aegon NV
 25,376 157,764
AerCap Holdings NV(a)
 2,623 145,078
Akzo Nobel NV
 3,661 320,939
ArcelorMittal
 10,146 328,063
ASML Holding NV
 5,124 1,001,260
Heineken Holding NV
 2,074 201,668
Heineken NV
 3,233 323,195
ING Groep NV
 50,508 734,498
Koninklijke Ahold Delhaize NV
 18,504 424,521
Koninklijke DSM NV
 2,990 297,298
Koninklijke KPN NV
 56,120 152,439
Koninklijke Philips NV
 13,557 554,194
NN Group NV
 3,965 170,138
NXP Semiconductors NV(a)
 4,758 542,412
Randstad NV
 2,089 124,509
RELX NV
 13,974 304,705
Unilever NV
 21,228 1,182,970
Wolters Kluwer NV
 5,673 318,125
    7,283,776
New Zealand — 0.1%
a2 Milk Co. Ltd.(a)
 10,980 83,744
Fletcher Building Ltd.
 23,747 109,803
Spark New Zealand Ltd.
 39,345 101,039
    294,586
Norway — 0.2%
DNB ASA
 15,128 270,851
Equinor ASA
 16,043 422,125
Norsk Hydro ASA
 23,546 147,735
Orkla ASA
 14,918 134,549
Telenor ASA
 9,699 199,787
Yara International ASA
 3,660 150,827
    1,325,874
Portugal — 0.0%
EDP - Energias de Portugal SA
 29,795 116,512
Galp Energia SGPS SA
 6,910 128,210
    244,722
Singapore — 0.4%
Ascendas REIT
 100,165 198,465
CapitaLand Ltd.
 85,400 220,931
CapitaLand Mall Trust
 75,700 117,163
DBS Group Holdings Ltd.
 23,100 489,997
Genting Singapore PLC
 140,300 132,176
Hutchison Port Holdings Trust
 10,200 2,805
Oversea-Chinese Banking Corp. Ltd.
 42,700 400,357
Singapore Press Holdings Ltd.(b)
 3,700 7,276
Singapore Telecommunications Ltd.
 122,000 299,196
United Overseas Bank Ltd.
 16,600 349,265
 Security Shares Value
Singapore (continued)
Venture Corp. Ltd.
     6,100 $      96,235
    2,313,866
Spain — 1.1%
ACS Actividades de Construccion y Servicios SA
     4,188      173,596
Aena SME SA(c)
     1,281      245,680
Amadeus IT Group SA
     6,771      536,667
Banco Bilbao Vizcaya Argentaria SA
    86,501      589,579
Banco de Sabadell SA
    88,215      148,076
Banco Santander SA
 210,866 1,132,262
Bankia SA
 25,300 95,863
Bankinter SA
 12,703 122,244
CaixaBank SA
 51,547 218,781
Enagas SA
 2,061 54,876
Endesa SA
 3,867 85,065
Ferrovial SA
 8,290 168,669
Gas Natural SDG SA
 4,026 98,644
Grifols SA
 3,974 116,899
Iberdrola SA
 72,641 514,868
Industria de Diseno Textil SA
 13,725 432,732
International Consolidated Airlines Group SA
 10,126 91,818
Red Electrica Corp. SA
 5,764 112,026
Repsol SA
 17,845 339,641
Telefonica SA
 57,255 504,394
    5,782,380
Sweden — 0.9%
Alfa Laval AB
 5,673 141,444
Assa Abloy AB, Class B
 14,762 316,912
Atlas Copco AB, Class A
 7,991 316,683
Atlas Copco AB, Class B
 6,832 246,771
Boliden AB
 5,494 193,373
Electrolux AB, Series B
 4,148 102,201
Essity AB, Class B
 8,540 216,602
Hennes & Mauritz AB, Class B(b)
 11,468 172,545
Hexagon AB, Class B
 4,331 243,578
Investor AB, Class B
 6,100 252,518
Kinnevik AB, Class B
 3,904 135,796
Lundin Petroleum AB
 4,575 144,838
Millicom International Cellular SA, SDR
 1,344 84,612
Nordea Bank AB
 38,125 366,068
Sandvik AB
 18,976 328,739
Skandinaviska Enskilda Banken AB, Class A
 19,276 173,385
Skanska AB, Class B
 6,161 113,255
SKF AB, Class B
 6,100 118,281
Svenska Handelsbanken AB, Class A
 19,581 214,308
Swedbank AB, Class A
 10,187 211,429
Swedish Match AB
 3,965 187,661
Telefonaktiebolaget LM Ericsson, Class B
 42,395 307,029
Telia Co. AB
 25,099 117,485
Volvo AB, Class B
 21,361 367,034
    5,072,547
Switzerland — 2.8%
ABB Ltd., Registered
 26,291 596,100
Adecco Group AG, Registered
 2,562 154,069
Baloise Holding AG, Registered
 1,159 170,472
Cie. Financiere Richemont SA, Registered
 7,259 667,051
Coca-Cola HBC AG
 3,041 103,995
Credit Suisse Group AG, Registered
 33,926 518,328
Geberit AG, Registered
 732 317,044
Givaudan SA, Registered
 122 272,393
 
 
  
200

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
Switzerland (continued)
Julius Baer Group Ltd.
     4,087 $     239,042
Kuehne + Nagel International AG, Registered
     1,681      254,091
LafargeHolcim Ltd., Registered
     6,588      338,011
Lonza Group AG, Registered
       976      261,796
Nestle SA, Registered
    40,870    3,092,168
Novartis AG, Registered
    29,036    2,154,884
Partners Group Holding AG
       488      353,429
Roche Holding AG, NVS
     9,211    1,977,400
Schindler Holding AG, NVS
 732 155,022
Schindler Holding AG, Registered
 732 150,555
SGS SA, Registered
 122 316,324
Sonova Holding AG, Registered
 1,342 234,792
Swatch Group AG (The), Bearer
 610 296,717
Swiss Life Holding AG, Registered
 549 187,635
Swiss Prime Site AG, Registered
 1,768 165,362
Swiss Re AG
 3,660 317,118
Swisscom AG, Registered
 408 182,440
Temenos AG
 976 144,946
UBS Group AG, Registered
 46,823 707,275
Zurich Insurance Group AG
 1,891 562,049
    14,890,508
United Kingdom — 6.4%
3i Group PLC
 15,952 202,289
Admiral Group PLC
 3,843 98,464
Anglo American PLC(b)
 16,531 395,330
Antofagasta PLC
 9,516 133,526
Aptiv PLC
 3,617 352,657
Ashtead Group PLC
 7,403 229,622
Associated British Foods PLC
 5,551 195,741
AstraZeneca PLC
 16,775 1,220,102
Auto Trader Group PLC(c)
 22,509 105,609
Aviva PLC
 50,581 343,797
Babcock International Group PLC
 7,198 79,785
BAE Systems PLC
 45,445 386,654
Barclays PLC
 221,430 581,160
BHP Billiton PLC
 29,158 670,837
BP PLC
 253,394 1,943,162
British American Tobacco PLC
 30,063 1,547,730
British Land Co. PLC (The)
 12,993 117,220
BT Group PLC
 112,118 305,690
Bunzl PLC
 7,137 217,478
Burberry Group PLC
 6,527 179,696
Carnival PLC
 3,172 204,161
Centrica PLC
 72,529 140,809
Compass Group PLC
 21,071 453,517
Croda International PLC
 2,950 183,003
Diageo PLC
 32,635 1,199,637
Experian PLC
 14,396 352,759
Ferguson PLC
 3,488 271,145
G4S PLC
 29,768 106,910
GlaxoSmithKline PLC
 62,281 1,263,004
Glencore PLC
 164,887 816,304
Hammerson PLC
 12,688 92,352
HSBC Holdings PLC
 261,141 2,503,995
Imperial Brands PLC
 12,078 435,540
InterContinental Hotels Group PLC
 3,398 217,667
Intertek Group PLC
 3,660 266,204
Investec PLC
 13,481 99,666
ITV PLC
 55,815 120,763
J Sainsbury PLC
 27,464 116,323
 Security Shares Value
United Kingdom (continued)
Johnson Matthey PLC
     3,174 $     148,371
Kingfisher PLC
    31,476      127,829
Land Securities Group PLC
    10,580      130,872
Legal & General Group PLC
    76,433      274,402
Lloyds Banking Group PLC
   915,732      770,226
London Stock Exchange Group PLC
     5,494      327,295
Marks & Spencer Group PLC
    22,692       85,754
Meggitt PLC
    15,860      103,769
Melrose Industries PLC
 64,379 202,172
Micro Focus International PLC
 3,124 55,412
National Grid PLC
 39,284 435,593
Next PLC
 2,257 174,190
NMC Health PLC
 1,708 80,092
Old Mutual PLC
 71,980 229,681
Pearson PLC
 11,712 140,511
Prudential PLC
 34,526 832,010
Randgold Resources Ltd.
 1,142 90,690
Reckitt Benckiser Group PLC
 8,601 659,342
RELX PLC
 16,592 364,842
Rio Tinto PLC
 16,714 942,997
Rolls-Royce Holdings PLC
 24,949 273,754
Rolls-Royce Holdings PLC, NVS(a)(e)
 1,771,379 2,357
Royal Bank of Scotland Group PLC(a)
 53,070 194,269
Royal Dutch Shell PLC, Class A
 56,394 1,956,312
Royal Dutch Shell PLC, Class B
 51,182 1,823,181
RSA Insurance Group PLC
 19,171 166,274
Sage Group PLC (The)
 20,313 179,043
Segro PLC
 22,842 198,964
Severn Trent PLC
 5,246 138,844
Shire PLC
 12,157 663,246
Sky PLC
 13,359 239,445
Smith & Nephew PLC
 12,749 232,159
Smiths Group PLC
 8,357 195,772
SSE PLC
 12,523 227,877
Standard Chartered PLC
 45,019 452,040
Standard Life Aberdeen PLC
 39,255 183,083
Taylor Wimpey PLC
 66,734 168,853
Tesco PLC
 127,978 418,412
Unilever PLC
 17,263 952,493
United Utilities Group PLC
 12,627 130,351
Vodafone Group PLC
 336,845 859,781
Weir Group PLC (The)
 4,392 128,047
Whitbread PLC
 2,806 157,380
WPP PLC
 17,324 284,118
    34,552,413
United States — 59.9%
3M Co.
 7,747 1,527,941
Abbott Laboratories
 22,064 1,357,598
AbbVie Inc.
 21,045 2,082,192
ABIOMED Inc.(a)
 549 209,246
Accenture PLC, Class A
 8,113 1,263,519
Activision Blizzard Inc.
 9,761 692,152
Acuity Brands Inc.
 427 50,493
Adobe Systems Inc.(a)
 6,771 1,687,875
Advance Auto Parts Inc.
 1,220 156,916
Advanced Micro Devices Inc.(a)
 11,102 152,430
AES Corp./VA
 8,967 114,329
Aetna Inc.
 4,636 816,539
Affiliated Managers Group Inc.
 976 155,438
Aflac Inc.
 10,370 467,272
 
 
201
  

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United States (continued)
AGCO Corp.
     1,403 $      89,231
Agilent Technologies Inc.
     5,673      351,272
AGNC Investment Corp.
     5,843      109,965
Air Products & Chemicals Inc.
     2,806      452,916
Akamai Technologies Inc.(a)
     2,623      197,722
Albemarle Corp.
     1,831      171,144
Alexion Pharmaceuticals Inc.(a)
     3,172      368,364
Align Technology Inc.(a)
     1,117      370,788
Alkermes PLC(a)
 2,745 129,564
Alleghany Corp.
 151 86,155
Allergan PLC
 4,453 671,512
Alliance Data Systems Corp.
 793 167,180
Alliant Energy Corp.
 4,453 184,443
Allstate Corp. (The)
 4,758 444,778
Alnylam Pharmaceuticals Inc.(a)
 1,140 113,396
Alphabet Inc., Class A(a)
 3,904 4,294,400
Alphabet Inc., Class C, NVS(a)
 4,148 4,500,538
Altria Group Inc.
 24,950 1,390,713
Amazon.com Inc.(a)
 5,429 8,847,207
Ameren Corp.
 4,026 238,299
American Airlines Group Inc.
 1,891 82,334
American Electric Power Co. Inc.
 6,466 439,365
American Express Co.
 9,943 977,397
American International Group Inc.
 11,734 619,438
American Tower Corp.
 5,978 827,176
American Water Works Co. Inc.
 3,660 304,292
Ameriprise Financial Inc.
 2,013 279,062
AmerisourceBergen Corp.
 2,318 190,401
AMETEK Inc.
 4,087 298,474
Amgen Inc.
 9,577 1,720,221
Amphenol Corp., Class A
 4,758 413,613
Anadarko Petroleum Corp.
 7,381 515,194
Analog Devices Inc.
 5,234 508,640
Andeavor
 2,257 325,978
Annaly Capital Management Inc.
 15,921 166,056
ANSYS Inc.(a)
 1,587 258,364
Anthem Inc.
 3,538 783,384
Aon PLC
 3,500 489,545
Apache Corp.
 5,124 204,960
Apple Inc.
 67,962 12,700,059
Applied Materials Inc.
 15,279 775,868
Arch Capital Group Ltd.(a)
 2,257 177,062
Archer-Daniels-Midland Co.
 7,930 346,700
Arconic Inc.
 5,780 102,017
Arista Networks Inc.(a)
 683 171,815
Arrow Electronics Inc.(a)
 1,830 135,640
Assurant Inc.
 1,220 113,887
AT&T Inc.
 82,594 2,669,438
Autodesk Inc.(a)
 3,050 393,755
Autoliv Inc.
 1,342 198,576
Automatic Data Processing Inc.
 6,039 785,191
AutoZone Inc.(a)
 427 277,260
AvalonBay Communities Inc.
 1,830 302,938
Avery Dennison Corp.
 1,952 205,019
Avnet Inc.
 2,501 95,338
Axis Capital Holdings Ltd.
 2,074 117,907
Baker Hughes a GE Co.
 5,856 202,559
Ball Corp.
 7,137 263,712
Bank of America Corp.
 129,442 3,758,996
Bank of New York Mellon Corp. (The)
 13,969 764,803
 Security Shares Value
United States (continued)
Baxter International Inc.
     6,527 $     462,373
BB&T Corp.
    10,371      544,477
Becton Dickinson and Co.
     3,798      841,599
Berkshire Hathaway Inc., Class B(a)
    15,703    3,007,596
Best Buy Co. Inc.
     3,965      270,611
Biogen Inc.(a)
     2,928      860,715
BioMarin Pharmaceutical Inc.(a)
     2,928      264,516
BlackRock Inc.(f)
     1,586      847,289
Boeing Co. (The)
 7,686 2,706,702
Booking Holdings Inc.(a)
 671 1,415,085
BorgWarner Inc.
 3,233 157,706
Boston Properties Inc.
 2,318 282,263
Boston Scientific Corp.(a)
 19,215 583,944
Brighthouse Financial Inc.(a)
 1,320 62,185
Bristol-Myers Squibb Co.
 21,592 1,136,171
Broadcom Inc.
 5,429 1,368,488
Brown-Forman Corp., Class B, NVS
 3,965 224,260
Bunge Ltd.
 2,135 148,489
CA Inc.
 4,697 167,871
Cabot Oil & Gas Corp.
 7,442 170,050
Cadence Design Systems Inc.(a)
 3,355 142,420
Campbell Soup Co.
 3,355 112,862
Capital One Financial Corp.
 6,771 636,474
Cardinal Health Inc.
 4,392 228,779
CarMax Inc.(a)
 2,806 193,390
Carnival Corp.
 4,209 262,137
Caterpillar Inc.
 7,625 1,158,314
CBRE Group Inc., Class A(a)
 4,819 222,590
CBS Corp., Class B, NVS
 4,960 249,835
CDK Global Inc.
 2,501 160,939
Celanese Corp., Series A
 2,379 268,637
Celgene Corp.(a)
 10,370 815,912
Centene Corp.(a)
 2,867 335,898
CenterPoint Energy Inc.
 6,405 167,363
CenturyLink Inc.
 13,916 253,550
Cerner Corp.(a)
 4,148 247,553
CF Industries Holdings Inc.
 3,483 143,291
CH Robinson Worldwide Inc.
 2,501 217,587
Charles Schwab Corp. (The)
 16,592 922,847
Charter Communications Inc., Class A(a)
 2,269 592,300
Chemours Co. (The)
 2,569 125,855
Cheniere Energy Inc.(a)
 3,416 227,574
Chevron Corp.
 24,583 3,055,667
Chipotle Mexican Grill Inc.(a)
 366 157,446
Chubb Ltd.
 5,621 734,608
Church & Dwight Co. Inc.
 4,636 217,660
Cigna Corp.
 3,538 599,231
Cimarex Energy Co.
 1,464 136,035
Cincinnati Financial Corp.
 2,318 160,800
Cintas Corp.
 1,769 322,400
Cisco Systems Inc.
 64,416 2,751,207
CIT Group Inc.
 3,294 164,469
Citigroup Inc.
 33,611 2,241,518
Citizens Financial Group Inc.
 8,324 340,035
Citrix Systems Inc.(a)
 2,623 277,041
Clorox Co. (The)
 2,075 250,722
CME Group Inc.
 4,514 735,331
CMS Energy Corp.
 4,880 225,114
Coca-Cola Co. (The)
 51,728 2,224,304
Cognex Corp.
 3,060 139,873
 
 
  
202

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United States (continued)
Cognizant Technology Solutions Corp., Class A
     8,174 $     615,911
Colgate-Palmolive Co.
    11,041      696,577
Comcast Corp., Class A
    61,854    1,928,608
Comerica Inc.
     3,416      322,095
Conagra Brands Inc.
     6,710      248,673
Concho Resources Inc.(a)
     2,135      293,157
ConocoPhillips
    16,104    1,085,249
Consolidated Edison Inc.
     4,392      336,998
Constellation Brands Inc., Class A
 2,562 571,531
Continental Resources Inc./OK(a)(b)
 1,594 107,340
Copart Inc.(a)
 2,684 147,164
Corning Inc.
 14,152 384,510
CoStar Group Inc.(a)
 427 162,781
Costco Wholesale Corp.
 5,856 1,160,893
Coty Inc., Class A
 8,196 108,597
Crown Castle International Corp.
 5,429 565,430
Crown Holdings Inc.(a)
 2,928 126,900
CSX Corp.
 11,895 769,012
Cummins Inc.
 2,318 330,060
CVS Health Corp.
 13,359 846,827
Danaher Corp.
 7,991 793,346
Darden Restaurants Inc.
 2,135 186,620
DaVita Inc.(a)
 2,135 142,703
Deere & Co.
 3,721 556,327
Dell Technologies Inc., Class V(a)
 2,929 236,253
Delta Air Lines Inc.
 2,338 126,369
DENTSPLY SIRONA Inc.
 3,416 149,655
Devon Energy Corp.
 6,710 278,935
Diamondback Energy Inc.
 793 95,763
Digital Realty Trust Inc.
 2,928 314,701
Discover Financial Services
 5,551 409,997
Discovery Inc., Class A(a)(b)
 2,074 43,741
Discovery Inc., Class C, NVS(a)
 5,385 106,461
DISH Network Corp., Class A(a)
 3,294 97,338
Dollar General Corp.
 4,026 352,194
Dollar Tree Inc.(a)
 3,233 267,013
Dominion Energy Inc.
 7,869 505,111
Domino's Pizza Inc.
 488 122,722
Dover Corp.
 2,745 211,941
DowDuPont Inc.
 29,376 1,883,295
DR Horton Inc.
 5,368 226,583
Dr Pepper Snapple Group Inc.
 2,928 349,310
DTE Energy Co.
 2,623 268,674
Duke Energy Corp.
 8,540 658,946
Duke Realty Corp.
 7,564 212,700
DXC Technology Co.
 4,197 386,586
Eastman Chemical Co.
 2,318 241,791
Eaton Corp. PLC
 5,978 457,795
Eaton Vance Corp., NVS
 2,440 131,272
eBay Inc.(a)
 13,603 513,105
Ecolab Inc.
 3,843 548,050
Edison International
 4,514 280,590
Edwards Lifesciences Corp.(a)
 3,050 418,795
Electronic Arts Inc.(a)
 4,331 566,971
Eli Lilly & Co.
 12,932 1,099,737
Emerson Electric Co.
 8,296 587,689
Entergy Corp.
 2,745 222,098
EOG Resources Inc.
 7,381 869,556
EQT Corp.
 3,861 198,996
Equifax Inc.
 1,708 194,644
 Security Shares Value
United States (continued)
Equinix Inc.
     1,098 $     435,741
Equity Residential
     5,002      320,078
Essex Property Trust Inc.
     1,037      247,874
Estee Lauder Companies Inc. (The), Class A
     3,050      455,792
Everest Re Group Ltd.
       707      159,280
Eversource Energy
     4,758      271,587
Exelon Corp.
    12,078      499,908
Expedia Group Inc.
     1,769      214,102
Expeditors International of Washington Inc.
 3,538 263,510
Express Scripts Holding Co.(a)
 7,507 569,106
Exxon Mobil Corp.
 57,279 4,653,346
F5 Networks Inc.(a)
 1,281 221,754
Facebook Inc., Class A(a)
 31,659 6,071,563
Fastenal Co.
 4,209 224,045
Federal Realty Investment Trust
 1,342 159,550
FedEx Corp.
 3,416 850,994
Fidelity National Information Services Inc.
 4,392 448,950
Fifth Third Bancorp.
 11,956 365,614
First Data Corp., Class A(a)
 3,965 75,335
First Republic Bank/CA(b)
 2,684 267,326
FirstEnergy Corp.
 6,344 218,360
Fiserv Inc.(a)
 7,076 513,718
FleetCor Technologies Inc.(a)
 1,282 255,567
Flex Ltd.(a)
 10,553 146,581
FLIR Systems Inc.
 3,050 164,395
Flowserve Corp.
 2,745 113,478
Fluor Corp.
 2,623 127,845
FMC Corp.
 2,257 196,562
FNF Group
 4,148 153,310
Ford Motor Co.
 47,885 553,072
Fortive Corp.
 4,473 325,142
Franklin Resources Inc.
 5,307 178,156
Freeport-McMoRan Inc.
 17,751 299,992
Gap Inc. (The)
 3,599 100,700
Garmin Ltd.
 2,379 142,954
Gartner Inc.(a)
 976 129,554
General Dynamics Corp.
 3,599 725,954
General Electric Co.
 117,791 1,658,497
General Mills Inc.
 7,869 332,780
General Motors Co.
 16,592 708,478
Genuine Parts Co.
 2,501 227,066
GGP Inc.
 8,296 168,243
Gilead Sciences Inc.
 17,141 1,155,303
Global Payments Inc.
 2,623 291,573
Goldman Sachs Group Inc. (The)
 4,697 1,060,958
Goodyear Tire & Rubber Co. (The)
 4,026 98,355
H&R Block Inc.
 3,416 93,769
Halliburton Co.
 11,468 570,418
Hanesbrands Inc.
 5,551 101,195
Harley-Davidson Inc.
 2,501 102,741
Harris Corp.
 1,999 300,790
Hartford Financial Services Group Inc. (The)
 5,673 296,868
Hasbro Inc.
 1,709 148,256
HCA Healthcare Inc.
 3,965 408,950
HCP Inc.
 6,771 162,301
Helmerich & Payne Inc.
 1,586 105,279
Henry Schein Inc.(a)
 2,392 165,526
Hershey Co. (The)
 2,379 214,205
Hess Corp.
 3,904 235,880
Hewlett Packard Enterprise Co.
 20,748 316,200
 
 
203
  

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United States (continued)
Hilton Worldwide Holdings Inc.
     3,052 $     246,327
HollyFrontier Corp.
     2,989      230,691
Hologic Inc.(a)
     4,299      162,889
Home Depot Inc. (The)
    15,250    2,844,887
Honeywell International Inc.
     9,272    1,371,422
Hormel Foods Corp.
     4,819      172,954
Host Hotels & Resorts Inc.(b)
    10,004      216,387
HP Inc.
    23,851      525,438
Humana Inc.
 2,074 603,493
Huntington Bancshares Inc./OH
 16,874 250,916
IAC/InterActiveCorp.(a)
 873 135,437
IDEXX Laboratories Inc.(a)
 915 190,512
IHS Markit Ltd.(a)
 5,429 267,541
Illinois Tool Works Inc.
 4,453 639,896
Illumina Inc.(a)
 2,135 581,659
Incyte Corp.(a)
 2,623 179,072
Ingersoll-Rand PLC
 3,904 341,756
Intel Corp.
 61,123 3,373,990
Intercontinental Exchange Inc.
 8,174 579,455
International Business Machines Corp.
 11,468 1,620,543
International Flavors & Fragrances Inc.
 1,403 171,348
International Paper Co.
 5,368 287,188
Interpublic Group of Companies Inc. (The)
 6,771 153,025
Intuit Inc.
 3,538 713,261
Intuitive Surgical Inc.(a)
 1,708 785,116
Invesco Ltd.
 6,405 174,985
IPG Photonics Corp.(a)
 427 103,022
Iron Mountain Inc.
 4,167 138,719
Jacobs Engineering Group Inc.
 2,440 158,112
Jazz Pharmaceuticals PLC(a)
 976 164,944
JB Hunt Transport Services Inc.
 1,586 203,167
Jefferies Financial Group Inc.
 6,100 133,468
JM Smucker Co. (The)
 1,891 203,282
Johnson & Johnson
 34,905 4,175,336
Johnson Controls International PLC
 13,486 452,590
JPMorgan Chase & Co.
 46,360 4,960,984
Juniper Networks Inc.
 5,856 156,004
Kansas City Southern
 1,891 202,621
Kellogg Co.
 3,843 247,451
KeyCorp.
 16,470 320,177
Keysight Technologies Inc.(a)
 1,586 93,162
Kimberly-Clark Corp.
 5,002 504,452
Kimco Realty Corp.
 7,159 110,678
Kinder Morgan Inc./DE
 30,439 507,723
KLA-Tencor Corp.
 2,434 275,602
Kohl's Corp.
 2,867 191,372
Kraft Heinz Co. (The)
 8,784 504,904
Kroger Co. (The)
 12,322 299,794
L Brands Inc.
 3,477 117,905
L3 Technologies Inc.
 1,342 266,159
Laboratory Corp. of America Holdings(a)
 1,647 297,432
Lam Research Corp.
 2,542 503,774
Las Vegas Sands Corp.
 5,429 437,632
Leggett & Platt Inc.
 4,453 183,909
Lennar Corp., Class A
 2,623 135,714
Liberty Global PLC, Series A(a)
 3,782 107,825
Liberty Global PLC, Series C, NVS(a)
 6,893 190,798
Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a)
 4,697 216,954
Liberty Property Trust
 3,111 137,537
Lincoln National Corp.
 3,416 226,447
 Security Shares Value
United States (continued)
LKQ Corp.(a)
     5,246 $     166,665
Lockheed Martin Corp.
     3,381    1,063,460
Loews Corp.
     4,270      208,675
Lowe's Companies Inc.
    11,102    1,054,801
Lululemon Athletica Inc.(a)
     1,708      179,425
LyondellBasell Industries NV, Class A
     4,636      519,788
M&T Bank Corp.
     2,074      356,894
Macerich Co. (The)
     1,952      108,590
Macy's Inc.
 4,331 151,195
ManpowerGroup Inc.
 1,220 109,800
Marathon Oil Corp.
 12,445 266,696
Marathon Petroleum Corp.
 7,320 578,500
Markel Corp.(a)
 244 267,688
Marriott International Inc./MD, Class A
 4,583 620,355
Marsh & McLennan Companies Inc.
 6,711 539,363
Martin Marietta Materials Inc.
 976 217,521
Marvell Technology Group Ltd.
 6,219 133,957
Masco Corp.
 5,612 209,159
Mastercard Inc., Class A(b)
 12,505 2,377,451
Mattel Inc.(b)
 4,880 75,738
Maxim Integrated Products Inc.
 4,575 268,324
McCormick & Co. Inc./MD, NVS
 2,501 252,601
McDonald's Corp.
 10,614 1,698,346
McKesson Corp.
 2,928 415,600
Medtronic PLC
 17,263 1,490,142
MercadoLibre Inc.(b)
 549 159,666
Merck & Co. Inc.
 34,916 2,078,549
MetLife Inc.
 11,834 544,246
MGM Resorts International
 7,137 224,459
Michael Kors Holdings Ltd.(a)
 2,135 122,528
Microchip Technology Inc.
 3,965 386,112
Micron Technology Inc.(a)
 15,290 880,551
Microsoft Corp.
 96,746 9,562,375
Mohawk Industries Inc.(a)
 1,098 224,036
Molson Coors Brewing Co., Class B
 2,623 161,708
Mondelez International Inc., Class A
 20,252 795,296
Monsanto Co.
 5,795 738,631
Monster Beverage Corp.(a)
 5,673 290,231
Moody's Corp.
 2,867 489,024
Morgan Stanley
 19,581 981,791
Mosaic Co. (The)
 4,941 135,828
Motorola Solutions Inc.
 2,623 281,553
Mylan NV(a)
 6,771 260,413
Nasdaq Inc.
 2,135 196,121
National Oilwell Varco Inc.
 5,368 222,343
Nektar Therapeutics(a)
 2,135 171,376
NetApp Inc.
 3,660 250,051
Netflix Inc.(a)
 5,795 2,037,522
New York Community Bancorp. Inc.
 9,699 112,411
Newell Brands Inc.
 7,954 187,555
Newfield Exploration Co.(a)
 3,086 90,235
Newmont Mining Corp.
 7,503 292,092
News Corp., Class A, NVS
 5,981 89,894
NextEra Energy Inc.
 6,240 1,034,654
Nielsen Holdings PLC
 4,880 147,230
NIKE Inc., Class B
 16,775 1,204,445
Noble Energy Inc.
 6,588 235,192
Nordstrom Inc.(b)
 2,135 104,679
Norfolk Southern Corp.
 3,965 601,292
Northern Trust Corp.
 3,172 325,193
 
 
  
204

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United States (continued)
Northrop Grumman Corp.
     2,318 $     758,565
Nucor Corp.
     4,453      285,838
NVIDIA Corp.
     7,869    1,984,483
O'Reilly Automotive Inc.(a)
     1,161      312,785
Occidental Petroleum Corp.
    10,065      847,473
Omnicom Group Inc.
     3,477      250,622
ON Semiconductor Corp.(a)
     2,928       73,581
ONEOK Inc.
     5,309      361,861
Oracle Corp.
 39,955 1,866,698
PACCAR Inc.
 5,002 311,274
Palo Alto Networks Inc.(a)
 1,525 317,337
Parker-Hannifin Corp.
 2,196 375,296
Paychex Inc.
 4,636 304,029
PayPal Holdings Inc.(a)
 15,433 1,266,586
Pentair PLC
 3,111 135,764
People's United Financial Inc.
 8,784 161,713
PepsiCo Inc.
 18,117 1,816,229
Perrigo Co. PLC
 2,074 151,734
Pfizer Inc.
 73,993 2,658,568
PG&E Corp.
 6,649 288,101
Philip Morris International Inc.
 20,557 1,635,104
Phillips 66
 6,161 717,695
Pinnacle West Capital Corp.
 2,257 179,680
Pioneer Natural Resources Co.
 2,318 447,606
Plains GP Holdings LP, Class A
 2,318 56,953
PNC Financial Services Group Inc. (The)(f)
 5,490 787,321
PPG Industries Inc.
 3,782 381,679
PPL Corp.
 9,412 257,136
Praxair Inc.
 3,660 571,912
Principal Financial Group Inc.
 4,087 228,055
Procter & Gamble Co. (The)
 33,163 2,426,537
Progressive Corp. (The)
 8,663 537,886
Prologis Inc.
 7,442 478,893
Prudential Financial Inc.
 5,795 561,188
Public Service Enterprise Group Inc.
 7,503 397,509
Public Storage
 2,013 426,434
PulteGroup Inc.
 5,490 166,072
PVH Corp.
 1,220 195,200
Qorvo Inc.(a)
 2,270 182,167
QUALCOMM Inc.
 19,276 1,120,321
Quest Diagnostics Inc.
 2,074 220,943
Qurate Retail Inc., Class A(a)
 7,320 148,816
Ralph Lauren Corp.
 976 131,350
Raytheon Co.
 4,087 856,226
Realty Income Corp.
 4,087 217,837
Red Hat Inc.(a)
 3,152 511,948
Regency Centers Corp.
 3,111 180,687
Regeneron Pharmaceuticals Inc.(a)
 1,098 329,751
Regions Financial Corp.
 19,703 359,383
Reinsurance Group of America Inc.
 819 122,391
RenaissanceRe Holdings Ltd.
 397 48,740
Republic Services Inc.
 4,148 279,700
ResMed Inc.
 1,464 150,514
Robert Half International Inc.
 2,562 163,148
Rockwell Automation Inc.
 2,074 363,800
Rockwell Collins Inc.
 2,562 352,301
Roper Technologies Inc.
 1,647 454,226
Ross Stores Inc.
 5,490 433,051
Royal Caribbean Cruises Ltd.
 2,318 243,344
S&P Global Inc.
 3,843 758,992
 Security Shares Value
United States (continued)
salesforce.com Inc.(a)
     8,845 $   1,143,924
SBA Communications Corp.(a)
     1,952      308,553
SCANA Corp.
     2,379       86,358
Schlumberger Ltd.
    17,091    1,173,639
Seagate Technology PLC
     3,538      199,366
Seattle Genetics Inc.(a)(b)
     1,733      104,829
SEI Investments Co.
     3,294      210,091
Sempra Energy
     3,111      331,415
ServiceNow Inc.(a)
 2,562 455,037
Sherwin-Williams Co. (The)
 1,159 439,551
Simon Property Group Inc.
 3,907 625,980
Sirius XM Holdings Inc.(b)
 33,123 235,173
Skyworks Solutions Inc.
 2,806 276,700
SL Green Realty Corp.
 1,551 151,254
Southern Co. (The)
 11,529 517,652
Southwest Airlines Co.
 2,074 105,940
Spirit AeroSystems Holdings Inc., Class A
 1,037 87,844
Splunk Inc.(a)
 2,257 250,098
Sprint Corp.(a)(b)
 14,097 72,459
Square Inc., Class A(a)
 3,660 213,195
SS&C Technologies Holdings Inc.
 2,074 105,587
Stanley Black & Decker Inc.
 2,318 322,758
Starbucks Corp.
 18,483 1,047,432
State Street Corp.
 4,943 475,072
Stericycle Inc.(a)
 1,403 89,090
Stryker Corp.
 4,392 764,296
SunTrust Banks Inc.
 6,649 448,874
SVB Financial Group(a)
 671 209,439
Symantec Corp.
 9,291 193,067
Synchrony Financial
 9,764 338,127
Synopsys Inc.(a)
 3,416 300,847
Sysco Corp.
 7,320 476,020
T-Mobile U.S. Inc.(a)
 4,514 251,430
T Rowe Price Group Inc.
 3,538 429,584
Take-Two Interactive Software Inc.(a)
 1,388 155,567
Tapestry Inc.
 4,148 181,351
Targa Resources Corp.
 4,148 201,717
Target Corp.
 7,198 524,662
TD Ameritrade Holding Corp.
 3,965 234,728
TE Connectivity Ltd.
 4,819 448,553
TechnipFMC PLC
 7,381 229,918
Tesla Inc.(a)(b)
 1,830 521,056
Texas Instruments Inc.
 12,200 1,365,302
Textron Inc.
 4,453 296,481
Thermo Fisher Scientific Inc.
 5,307 1,105,289
Tiffany & Co.
 1,647 215,395
Time Warner Inc.
 10,126 953,464
TJX Companies Inc. (The)
 8,418 760,314
Toll Brothers Inc.
 3,782 149,351
Torchmark Corp.
 2,207 187,220
Total System Services Inc.
 3,050 259,829
Tractor Supply Co.
 2,074 154,119
TransDigm Group Inc.
 793 264,949
TransUnion
 2,074 142,276
Travelers Companies Inc. (The)
 3,088 396,870
Trimble Inc.(a)
 4,392 145,200
TripAdvisor Inc.(a)
 1,952 101,777
Twenty-First Century Fox Inc., Class A, NVS
 16,714 644,325
Twenty-First Century Fox Inc., Class B
 3,111 118,747
Twitter Inc.(a)
 9,394 325,972
 
 
205
  

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
(Percentages shown are based on Net Assets)
 Security Shares Value
United States (continued)
Tyson Foods Inc., Class A
     4,392 $     296,328
U.S. Bancorp.
    21,533    1,076,435
UDR Inc.
     4,819      175,749
Ulta Salon Cosmetics & Fragrance Inc.(a)
       915      225,923
Under Armour Inc., Class A(a)
     2,745       57,370
Under Armour Inc., Class C, NVS(a)
     2,757       52,162
Union Pacific Corp.
    10,614    1,515,255
United Parcel Service Inc., Class B
     8,906    1,034,165
United Rentals Inc.(a)
 1,342 214,143
United Technologies Corp.
 10,004 1,248,699
UnitedHealth Group Inc.
 12,627 3,049,547
Universal Health Services Inc., Class B
 1,342 154,303
Unum Group
 3,599 139,677
Valero Energy Corp.
 6,222 754,106
Varian Medical Systems Inc.(a)
 1,647 194,132
Veeva Systems Inc., Class A(a)
 1,823 141,027
Ventas Inc.
 5,012 273,956
VEREIT Inc.
 22,387 160,291
VeriSign Inc.(a)
 1,952 254,619
Verisk Analytics Inc.(a)
 2,501 265,706
Verizon Communications Inc.
 53,375 2,544,386
Vertex Pharmaceuticals Inc.(a)
 3,660 563,640
VF Corp.
 4,636 376,258
Viacom Inc., Class B, NVS
 4,880 132,248
Visa Inc., Class A
 24,034 3,141,724
VMware Inc., Class A(a)(b)
 1,159 159,339
Vornado Realty Trust
 2,562 178,597
Vulcan Materials Co.
 2,135 272,725
Walmart Inc.
 19,581 1,616,216
Walgreens Boots Alliance Inc.
 11,590 723,100
Walt Disney Co. (The)
 19,947 1,984,128
Waste Management Inc.
 5,917 489,395
Waters Corp.(a)
 1,403 270,246
WEC Energy Group Inc.
 4,943 312,150
Wells Fargo & Co.
 61,488 3,319,737
Welltower Inc.
 4,941 284,849
Western Digital Corp.
 4,103 342,642
Western Union Co. (The)
 8,235 163,794
WestRock Co.
 4,157 244,764
Weyerhaeuser Co.
 10,614 396,221
Whirlpool Corp.
 1,159 167,765
Williams Companies Inc. (The)
 11,590 311,307
Willis Towers Watson PLC
 1,769 267,384
Workday Inc., Class A(a)
 1,892 247,776
Worldpay Inc., Class A(a)
 3,643 289,509
WR Berkley Corp.
 2,318 177,257
WW Grainger Inc.
 785 242,557
Wyndham Worldwide Corp.
 1,769 191,830
Wynn Resorts Ltd.
 1,220 239,132
Xcel Energy Inc.
 7,076 322,100
Xerox Corp.
 3,157 85,807
Xilinx Inc.
 3,599 245,128
XL Group Ltd.
 4,087 227,155
XPO Logistics Inc.(a)
 1,281 134,825
Xylem Inc./NY
 2,745 193,248
Yum! Brands Inc.
 4,758 386,968
 Security Shares Value
United States (continued)
Zillow Group Inc., Class C, NVS(a)(b)
     2,520 $     146,992
Zimmer Biomet Holdings Inc.
     2,623      292,491
Zoetis Inc.
     7,015     587,155
    323,377,169
Total Common Stocks — 99.1%

(Cost: $472,260,654)
 535,101,005
Preferred Stocks
Germany — 0.2%
Henkel AG & Co. KGaA, Preference Shares, NVS
     2,379      293,391
Porsche Automobil Holding SE, Preference Shares, NVS
 2,379 175,174
Sartorius AG, Preference Shares, NVS
 671 98,142
Volkswagen AG, Preference Shares, NVS
 2,928 550,069
    1,116,776
Total Preferred Stocks — 0.2%

(Cost: $1,128,833)
 1,116,776
Rights
Spain — 0.0%
Ferrovial SA, NVS (Expires 06/05/18)(a)
 8,290 3,019
Total Rights — 0.0%

(Cost: $3,001)
 3,019
Short-Term Investments
Money Market Funds — 1.7%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.98%(f)(g)(h)
 8,081,147 8,082,763
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.64%(f)(g)
 758,011 758,011
    8,840,774
Total Short-Term Investments — 1.7%

(Cost: $8,839,708)
 8,840,774
Total Investments in Securities — 101.0%

(Cost: $482,232,196)
 545,061,574
Other Assets, Less Liabilities — (1.0)%
 (5,247,988)
Net Assets — 100.0%
 $ 539,813,586
    
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(c) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(d) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(e) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(f) Affiliate of the Fund.
(g) Annualized 7-day yield as of period-end.
(h) All or a portion of this security was purchased with cash collateral received from loaned securities.
 
 
  
206

iShares® MSCI World ETF
Schedule of Investments (unaudited)(continued)
May 31, 2018
  
Affiliates
Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Shares
Held at
08/31/17 		Shares
Purchased 		Shares
Sold 		Shares
Held at
05/31/18 		Value at
05/31/18 		  Income   Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation)
BlackRock Cash Funds: Institutional, SL Agency Shares
 7,849,531 231,616 (a) — 8,081,147 $ 8,082,763   $36,569 (b)   $ (1,075)   $ (443)
BlackRock Cash Funds: Treasury, SL Agency Shares
 287,312 470,699 (a) — 758,011 758,011   6,863   —   —
BlackRock Inc.
 1,612 130 (156) 1,586 847,289   8,598   34,904   154,370
PNC Financial Services Group Inc. (The)
 6,510 505 (1,525) 5,490 787,321   14,427   48,924   73,404
          $10,475,384   $66,457   $ 82,753   $ 227,331
    
(a) Net of purchases and sales.
(b) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.
Futures Contracts
Futures contracts outstanding as of May 31, 2018 were as follows:
Description Number of
Contracts 		Expiration
Date 		Notional
Amount
(000) 		Value/Unrealized
Appreciation
(Depreciation)
Long Contracts        
MSCI EAFE E-Mini
 15 06/15/18 $ 1,490 $ (23,813)
S&P 500 E-Mini
 15 06/15/18 2,029 6,738
        $ (17,075)
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com and on the U.S. Securities and Exchange Commission website at www.sec.gov.
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund's investments into major categories is disclosed in the Schedule of Investments above.
  Level 1   Level 2   Level 3   Total
Investments              
Assets              
Common Stocks
 $535,098,648   $         —   $      2,357   $535,101,005
Preferred Stocks
   1,116,776            —            —      1,116,776
Rights
       3,019            —            —          3,019
Money Market Funds
   8,840,774            —            —     8,840,774
  $545,059,217   $         —   $      2,357   $545,061,574
Derivative financial instruments(a)              
Assets              
Futures Contracts
 $ 6,738   $ —   $ —   $ 6,738
Liabilities              
Futures Contracts
 (23,813)   —   —   (23,813)
  $ (17,075)   $ —   $ —   $ (17,075)
    
(a) Shown at the unrealized appreciation (depreciation) on the contracts.
Portfolio Abbreviations - Equity
ADR
 American Depositary Receipt
NVS
 Non-Voting Shares
SDR
 Swedish Depositary Receipt
207
  

Item 2. Controls and Procedures.

 

  (a) The President (the registrant’s Principal Executive Officer) and Chief Financial Officer (the registrant’s Principal Financial Officer) have concluded that, based on their evaluation as of a date within 90 days of the filing date of this report, the disclosure controls and procedures of the registrant (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are reasonably designed to achieve the purposes described in Section 4(a) of the certifications filed with this Form N-Q.

 

  (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 registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

 

  (a) Certifications of the President (the registrant’s Principal Executive Officer) and Treasurer and Chief Financial Officer (the registrant’s Principal Financial Officer) as required by Rule 30a-2(a) under the Investment Company Act of 1940 is filed with this Form N-Q as exhibits.

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/ Martin Small

  Martin Small, President (Principal Executive Officer)

Date:

   July 30, 2018

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/ Martin Small

  Martin Small, President (Principal Executive Officer)
Date:   July 30, 2018
By:  

/s/ Jack Gee

  Jack Gee, Treasurer and Chief Financial Officer (Principal Financial Officer)
Date:   July 30, 2018
 EX-99.CERT 2 d910359dex99cert.htm CERTIFICATIONS PURSUANT TO SECTION 302 Certifications Pursuant to Section 302

Form N-Q Exhibit for Item 3(a)

   EX-99.CERT

I, Martin Small, certify that:

 

1. I have reviewed this report on Form N-Q of iShares, Inc. for the following forty-nine series: iShares Core MSCI Emerging Markets ETF, iShares Currency Hedged MSCI Emerging Markets ETF, iShares Edge MSCI Min Vol EM Currency Hedged ETF, iShares Edge MSCI Min Vol Emerging Markets ETF, iShares Edge MSCI Min Vol Global ETF, iShares Edge MSCI Multifactor Emerging Markets ETF, iShares MSCI Australia ETF, iShares MSCI Austria ETF, iShares MSCI Belgium ETF, iShares MSCI Brazil ETF, iShares MSCI BRIC ETF, iShares MSCI Canada ETF, iShares MSCI Chile ETF, iShares MSCI Colombia ETF, iShares MSCI EM ESG Optimized ETF, iShares MSCI Emerging Markets Asia ETF, iShares MSCI Emerging Markets ETF, iShares MSCI Emerging Markets ex China ETF, iShares MSCI Emerging Markets Small-Cap ETF, iShares MSCI Eurozone ETF, iShares MSCI France ETF, iShares MSCI Frontier 100 ETF, iShares MSCI Germany ETF, iShares MSCI Global Agriculture Producers ETF, iShares MSCI Global Energy Producers ETF, iShares MSCI Global Gold Miners ETF, iShares MSCI Global Metals & Mining Producers ETF, iShares MSCI Global Silver Miners ETF, iShares MSCI Hong Kong ETF, iShares MSCI Israel ETF, iShares MSCI Italy ETF, iShares MSCI Japan ETF, iShares MSCI Japan Small-Cap ETF, iShares MSCI Malaysia ETF, iShares MSCI Mexico ETF, iShares MSCI Netherlands ETF, iShares MSCI Pacific ex Japan ETF, iShares MSCI Russia ETF, iShares MSCI Singapore ETF, iShares MSCI South Africa ETF, iShares MSCI South Korea ETF, iShares MSCI Spain ETF, iShares MSCI Sweden ETF, iShares MSCI Switzerland ETF, iShares MSCI Taiwan ETF, iShares MSCI Thailand ETF, iShares MSCI Turkey ETF, iShares MSCI USA Equal Weighted ETF and iShares MSCI World 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 schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

 

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 registrant’s most recent fiscal quarter 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:   July 30, 2018     /s/ Martin Small    

President

(Principal Executive Officer)

     

Martin Small

[Signature]

     [Title]

Form N-Q Exhibit for Item 3(a)

   EX-99.CERT

I, Jack Gee, certify that:

 

1. I have reviewed this report on Form N-Q of iShares, Inc. for the following forty-nine series: iShares Core MSCI Emerging Markets ETF, iShares Currency Hedged MSCI Emerging Markets ETF, iShares Edge MSCI Min Vol EM Currency Hedged ETF, iShares Edge MSCI Min Vol Emerging Markets ETF, iShares Edge MSCI Min Vol Global ETF, iShares Edge MSCI Multifactor Emerging Markets ETF, iShares MSCI Australia ETF, iShares MSCI Austria ETF, iShares MSCI Belgium ETF, iShares MSCI Brazil ETF, iShares MSCI BRIC ETF, iShares MSCI Canada ETF, iShares MSCI Chile ETF, iShares MSCI Colombia ETF, iShares MSCI EM ESG Optimized ETF, iShares MSCI Emerging Markets Asia ETF, iShares MSCI Emerging Markets ETF, iShares MSCI Emerging Markets ex China ETF, iShares MSCI Emerging Markets Small-Cap ETF, iShares MSCI Eurozone ETF, iShares MSCI France ETF, iShares MSCI Frontier 100 ETF, iShares MSCI Germany ETF, iShares MSCI Global Agriculture Producers ETF, iShares MSCI Global Energy Producers ETF, iShares MSCI Global Gold Miners ETF, iShares MSCI Global Metals & Mining Producers ETF, iShares MSCI Global Silver Miners ETF, iShares MSCI Hong Kong ETF, iShares MSCI Israel ETF, iShares MSCI Italy ETF, iShares MSCI Japan ETF, iShares MSCI Japan Small-Cap ETF, iShares MSCI Malaysia ETF, iShares MSCI Mexico ETF, iShares MSCI Netherlands ETF, iShares MSCI Pacific ex Japan ETF, iShares MSCI Russia ETF, iShares MSCI Singapore ETF, iShares MSCI South Africa ETF, iShares MSCI South Korea ETF, iShares MSCI Spain ETF, iShares MSCI Sweden ETF, iShares MSCI Switzerland ETF, iShares MSCI Taiwan ETF, iShares MSCI Thailand ETF, iShares MSCI Turkey ETF, iShares MSCI USA Equal Weighted ETF and iShares MSCI World 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 schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

 

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 registrant’s most recent fiscal quarter 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:   July 30, 2018    

/s/ Jack Gee

     Treasurer and Chief Financial Officer (Principal Financial Officer)
     

Jack Gee

[Signature]

     [Title]