iShares MSCI Frontier 100 ETF

Schedule of Investments (unaudited)

May 31, 2019

iShares^® MSCI Frontier 100 ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Common Stocks

Argentina — 8.8%
Adecoagro SA^(a)(b)		239,807	$	1,594,717
Arcos Dorados Holdings Inc., Class A		278,005		1,807,032
Banco Macro SA, ADR		99,449		4,960,516
BBVA Banco Frances SA, ADR		153,762		1,377,708
Central Puerto SA, ADR		167,884		1,354,824
Corp. America Airports SA^(a)(b)		70,273		527,047
Cresud SACIF y A, ADR^(a)		72,284		721,394
Despegar.com Corp.^(a)(b)		45,951		551,412
Empresa Distribuidora y Comercializadora Norte SA, ADR^(a)(b)		49,361		867,273
Globant SA^(a)(b)		70,349		6,531,201
Grupo Financiero Galicia SA, ADR		226,110		5,790,677
Grupo Supervielle SA, ADR		119,609		698,517
IRSA Inversiones y Representaciones SA, ADR^(a)		47,384		440,671
Loma Negra Cia Industrial Argentina SA, ADR^(a)		128,576		1,279,331
Pampa Energia SA, ADR^(a)(b)		147,189		3,720,938
Telecom Argentina SA, ADR^(b)		236,507		3,507,399
Transportadora de Gas del Sur SA, Class B, ADR^(b)		171,906		2,250,250
YPF SA, ADR		381,254		5,653,997

				43,634,904

Bahrain — 6.3%
Ahli United Bank BSC		29,639,960		24,440,309
Aluminium Bahrain BSC^(a)		760,814		847,591
Bahrain Telecommunications Co. BSC		1,342,590		1,225,069
GFH Financial Group BSC		16,848,672		4,201,732
Ithmaar Holding BSC^(a)(c)		7,341,331		537,818

				31,252,519

Bangladesh — 6.2%
Acme Laboratores Ltd. (The)		885,952		746,671
Bangladesh Export Import Co. Ltd.		4,677,184		1,271,575
Beximco Pharmaceuticals Ltd.		2,570,119		2,372,651
BRAC Bank Ltd.^(a)		4,543,999		3,469,768
City Bank Ltd. (The)		4,207,963		1,352,915
Eastern Bank Ltd.		2,526,640		1,113,991
GrameenPhone Ltd.		703,511		2,952,917
International Finance Investment & Commerce Bank Ltd.^(a)		5,810,082		776,051
Islami Bank Bangladesh Ltd.		5,606,109		1,636,772
LafargeHolcim Bangladesh Ltd.		2,770,890		1,310,113
National Bank Ltd.^(a)		12,077,229		1,427,568
Olympic Industries Ltd.		117,399		313,341
Pubali Bank Ltd.		2,714,340		847,028
Renata Ltd.		65,932		912,839
Square Pharmaceuticals Ltd.		2,956,907		8,905,673
Summit Power Ltd.		3,101,425		1,484,725

				30,894,598

Jordan — 1.7%
Arab Bank PLC		523,224		4,398,329
Bank of Jordan		287,345		879,462
Jordan Islamic Bank		250,976		1,079,657
Jordan Petroleum Refinery Co.		512,912		1,880,918

				8,238,366

Kazakhstan — 1.9%
Halyk Savings Bank of Kazakhstan JSC, GDR^(d)		415,696		4,801,289
KCell JSC, GDR^(d)		235,821		1,143,732
NAC Kazatomprom JSC, GDR^(a)		232,275		3,542,193

				9,487,214


Security	Shares		Value

Kenya — 7.8%
Co-operative Bank of Kenya Ltd. (The)		8,155,510	$	1,002,826
East African Breweries Ltd.		2,426,542		4,859,075
Equity Group Holdings PLC/Kenya		17,429,000		6,687,572
KCB Group Ltd.		15,487,836		6,042,168
Safaricom PLC		73,213,367		19,848,957

				38,440,598

Kuwait — 26.1%
Agility Public Warehousing Co. KSC		3,569,859		8,549,367
Alimtiaz Investment Group KSC		2,776,477		1,185,749
Boubyan Bank KSCP		3,147,780		5,883,991
Boubyan Petrochemicals Co. KSCP		1,449,675		4,471,895
Burgan Bank SAK		2,858,767		3,005,274
Gulf Bank KSCP		5,050,897		5,193,596
Humansoft Holding Co. KSC		333,341		3,649,887
Integrated Holding Co. KCSC		557,173		1,059,800
Jazeera Airways Co. KSC		93,098		281,374
Kuwait Finance House KSCP		13,812,223		30,855,163
Kuwait International Bank KSCP		2,002,579		1,848,636
Kuwait Projects Co. Holding KSCP		1,924,195		1,359,073
Mabanee Co. SAK		1,894,730		4,394,479
Mezzan Holding Co. KSCC		443,730		779,880
Mobile Telecommunications Co. KSC		7,851,085		13,515,008
National Bank of Kuwait SAKP		11,759,210		37,433,228
National Industries Group Holding SAK		3,697,901		2,672,596
National Real Estate Co. KPSC^(a)		2,382,654		568,268
Warba Bank KSCP^(a)		2,821,366		2,289,347

				128,996,611

Mauritius — 0.2%
Lighthouse Capital Ltd.		2,291,947		1,064,301


Morocco — 7.9%
Attijariwafa Bank		251,311		11,448,483
Banque Centrale Populaire		183,830		5,018,959
Cosumar		178,467		3,505,290
Douja Promotion Groupe Addoha SA		655,225		690,632
Maroc Telecom		1,081,878		15,102,570
Societe d’Exploitation des Ports		137,505		2,561,472
TOTAL Maroc SA		7,987		947,812

				39,275,218

Nigeria — 6.6%
Access Bank PLC		110,356,720		1,866,046
Afriland Properties PLC^(a)		8,020		44
Dangote Cement PLC		12,715,126		7,031,650
FBN Holdings PLC		110,794,124		2,165,208
Guaranty Trust Bank PLC		94,641,223		8,290,125
Nestle Nigeria PLC		1,451,979		5,836,090
United Bank for Africa PLC		112,430,482		1,947,860
Zenith Bank PLC		99,041,990		5,518,348

				32,655,371

Oman — 2.1%
Bank Muscat SAOG		5,356,003		5,842,912
Bank Nizwa SAOG^(a)		4,044,396		945,443
Oman Telecommunications Co. SAOG		1,188,089		1,758,989
Ooredoo		1,039,769		1,328,744
Sohar International Bank SAOG		2,400,938		698,455

				10,574,543

Romania — 6.4%
Banca Transilvania SA		22,004,135		11,810,173
BRD-Groupe Societe Generale SA		1,252,035		3,376,168

Schedule of Investments (unaudited) (continued)

May 31, 2019

iShares^® MSCI Frontier 100 ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Romania (continued)
OMV Petrom SA		69,868,293	$	6,310,187
Societatea Energetica Electrica SA		924,015		2,409,172
Societatea Nationala de Gaze Naturale ROMGAZ SA		703,771		5,223,772
Transgaz SA Medias		28,650		2,489,958

				31,619,430

Slovenia — 0.3%
Zavarovalnica Triglav DD		34,224		1,285,235


Sri Lanka — 0.9%
John Keells Holdings PLC		4,891,374		3,809,442
Sampath Bank PLC		1,009,554		789,685

				4,599,127

Vietnam — 15.7%
Bank for Foreign Trade of Vietnam JSC		1,073,745		3,081,468
Bank for Investment and Development of Vietnam JSC^(a)		654,020		879,810
Bao Viet Holdings		217,640		713,818
FLC Faros Construction JSC^(a)		615,192		786,855
Hoa Phat Group JSC^(a)		4,212,340		5,774,518
Hoang Huy Investment Financial Services JSC		651,690		576,101
Kinh Bac City Development Share Holding Corp.^(a)		936,110		575,674
Masan Group Corp.^(a)		1,797,730		6,587,173
No Va Land Investment Group Corp.^(a)		922,679		2,372,108
PetroVietnam Drilling & Well Services JSC^(a)		206,830		165,174
PetroVietnam Fertilizer & Chemicals JSC		730,460		556,829
PetroVietnam Gas JSC		226,680		1,009,682
PetroVietnam Power Corp.^(a)		604,910		393,956
PetroVietnam Technical Services Corp.		783,798		756,484
Saigon Beer Alcohol Beverage Corp.		265,460		3,026,897
Saigon Thuong Tin Commercial JSB^(a)		2,173,849		1,090,824
SSI Securities Corp.		1,198,620		1,272,024
Thanh Thanh Cong - Bien Hoa JSC		882,688		680,412
Viet Capital Securities JSC		413,130		534,585
Vietjet Aviation JSC		209,880		1,115,906
Vietnam Dairy Products JSC		2,676,308		14,801,071
Vietnam Electrical Equipment JSC		173,660		165,754
Vietnam National Petroleum Group		86,080		231,963
Viglacera Corp. JSC^(a)		234,100		200,449
Vincom Retail JSC		3,675,197		5,461,943
Vingroup JSC^(a)		3,154,168		15,436,781
Vinh Hoan Corp.		58,310		226,606
Vinhomes JSC^(a)(e)		2,676,005		9,371,046

				77,845,911


Total Common Stocks — 98.9% (Cost: $424,980,292)				489,863,946


Security	Shares		Value

Rights

Sri Lanka — 0.0%
Sampath Bank PLC (Expires 06/07/19)^(a)		338,056	$	2,109


Total Rights — 0.0% (Cost: $0)				2,109


Short-Term Investments

Money Market Funds — 4.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.53%^(f)(g)(h)		14,387,721		14,393,476
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.33%^(f)(g)		7,896,885		7,896,885

				22,290,361


Total Short-Term Investments — 4.5% (Cost: $22,289,827)				22,290,361


Total Investments in Securities — 103.4% (Cost: $447,270,119)				512,156,416

Other Assets, Less Liabilities — (3.4)%				(17,005,522	)


Net Assets — 100.0%			$	495,150,894

^(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)	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.

^(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.

Schedule of Investments (unaudited) (continued)

May 31, 2019

iShares^® MSCI Frontier 100 ETF

Affiliates

Investments in issuers considered to be affiliates of the Fund during the nine months ended May 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:



Affiliated Issuer	Shares Held at 08/31/18		Net Activity		Shares Held at 05/31/19		Value at 05/31/19		Income			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)

BlackRock Cash Funds: Institutional, SL Agency Shares		2,634,883		11,752,838		14,387,721	$	14,393,476	$	70,414	^(a)	$	680	$	221
BlackRock Cash Funds: Treasury, SL Agency Shares		—		7,896,885		7,896,885		7,896,885		9,967			—		—

							$	22,290,361	$	80,381		$	680	$	221

^(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, 2019. 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	$	489,326,084	$	44	$	537,818	$	489,863,946
Rights		2,109		—		—		2,109
Money Market Funds		22,290,361		—		—		22,290,361

	$	511,618,554	$	44	$	537,818	$	512,156,416


Portfolio Abbreviations — Equity

ADR		American Depositary Receipt

GDR		Global Depositary Receipt