NPORT-EX 2 NPORT_5623863610465436.htm iShares MSCI Japan Small-Cap ETF

Schedule of Investments (unaudited) 

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

    
Air Freight & Logistics — 0.4%            

Kintetsu World Express Inc.

     3,600     $ 74,917  

Konoike Transport Co. Ltd.

     2,700       26,851  

Maruwa Unyu Kikan Co. Ltd.

     1,800       79,837  

Mitsui-Soko Holdings Co. Ltd.

     1,800       38,788  

SBS Holdings Inc.

     1,800       43,466  
   

 

 

  
                263,859  
Auto Components — 2.7%            

Daikyonishikawa Corp.

     3,600       23,649  

Eagle Industry Co. Ltd.

     1,800       15,588  

Exedy Corp.

     2,700       31,952  

FCC Co. Ltd.

     2,700       51,579  

Futaba Industrial Co. Ltd.

     4,500       21,793  

G-Tekt Corp.

     1,800       23,994  

Ichikoh Industries Ltd.

     2,700       13,672  

JTEKT Corp.

     17,100       132,995  

KYB Corp.(a)

     1,800       43,466  

Musashi Seimitsu Industry Co. Ltd.

     3,600       53,133  

NHK Spring Co. Ltd.

     18,000       109,269  

Nifco Inc./Japan

     7,200       253,752  

Nippon Seiki Co. Ltd.

     3,600       38,218  

NOK Corp.

     7,200       79,543  

Pacific Industrial Co. Ltd.

     3,600       37,044  

Piolax Inc.

     2,700       40,419  

Press Kogyo Co. Ltd.

     8,100       23,537  

Shoei Co. Ltd.

     1,800       62,230  

Sumitomo Riko Co. Ltd.

     2,700       13,283  

Sumitomo Rubber Industries Ltd.

     14,400       127,463  

Tachi-S Co. Ltd.

     2,700       29,130  

Tokai Rika Co. Ltd.

     4,500       68,919  

Topre Corp.

     2,700       33,765  

Toyo Tire Corp.

     9,000       142,153  

Toyota Boshoku Corp.

     5,400       70,947  

TPR Co. Ltd.

     1,800       22,579  

TS Tech Co. Ltd.

     3,600       105,298  

Unipres Corp.

     3,600       30,899  

Yokohama Rubber Co. Ltd. (The)

     9,900       144,595  
   

 

 

  
          1,844,864  
Automobiles — 0.2%            

Mitsubishi Motors Corp.(a)

     58,500       105,471  

Nissan Shatai Co. Ltd.

     5,400       46,711  
   

 

 

  
          152,182  
Banks — 4.2%            

77 Bank Ltd. (The)

     4,500       63,265  

Aomori Bank Ltd. (The)

     1,800       41,999  

Aozora Bank Ltd.

     9,900       179,914  

Awa Bank Ltd. (The)

     2,700       66,493  

Bank of Iwate Ltd. (The)

     900       19,126  

Bank of Nagoya Ltd. (The)

     900       23,356  

Bank of Okinawa Ltd. (The)

     1,800       50,975  

Bank of the Ryukyus Ltd.

     3,600       30,139  

Chugoku Bank Ltd. (The)

     12,600       111,288  

Chukyo Bank Ltd. (The)

     900       18,462  

Daishi Hokuetsu Financial Group Inc.

     2,700       61,211  

Ehime Bank Ltd. (The)

     2,700       27,835  

Gunma Bank Ltd. (The)

     29,700       92,568  

Hachijuni Bank Ltd. (The)

     31,500       112,074  

Hirogin Holdings Inc.

     21,600       120,351  

Hokkoku Bank Ltd. (The)

     1,800       49,784  
Security   Shares     Value  
Banks (continued)            

Hokuhoku Financial Group Inc.

     9,900     $ 98,454  

Hyakugo Bank Ltd. (The)

     18,000       54,721  

Hyakujushi Bank Ltd. (The)

     1,800       27,930  

Iyo Bank Ltd. (The)

     18,900       125,426  

Juroku Bank Ltd. (The)

     2,700       51,346  

Kansai Mirai Financial Group Inc.

     8,174       40,919  

Keiyo Bank Ltd. (The)

     8,100       35,499  

Kiyo Bank Ltd. (The)

     5,400       82,340  

Kyushu Financial Group Inc.

     30,600       149,662  

Mebuki Financial Group Inc.

     87,300       179,163  

Miyazaki Bank Ltd. (The)

     900       19,851  

Musashino Bank Ltd. (The)

     2,700       41,118  

Nanto Bank Ltd. (The)

     2,700       48,446  

Nishi-Nippon Financial Holdings Inc.

     10,800       74,883  

North Pacific Bank Ltd.

     22,500       50,276  

Ogaki Kyoritsu Bank Ltd. (The)

     2,700       60,797  

Oita Bank Ltd. (The)

     1,800       40,134  

San ju San Financial Group Inc.

     1,800       22,113  

San-in Godo Bank Ltd. (The)

     12,600       65,855  

Senshu Ikeda Holdings Inc.

     18,900       27,550  

Seven Bank Ltd.

     51,300       112,661  

Shiga Bank Ltd. (The)

     3,600       81,926  

Shikoku Bank Ltd. (The)

     2,700       18,332  

Suruga Bank Ltd.

     11,700       37,812  

Toho Bank Ltd. (The)

     14,400       31,348  

Tokyo Kiraboshi Financial Group Inc.

     1,830       20,007  

TOMONY Holdings Inc.

     10,800       34,593  

Yamagata Bank Ltd. (The)

     1,800       20,386  

Yamaguchi Financial Group Inc.

     17,800       111,298  
   

 

 

  
             2,833,686  
Beverages — 0.4%            

Sapporo Holdings Ltd.

     5,400       100,983  

Takara Holdings Inc.

     11,700       134,532  
   

 

 

  
          235,515  
Biotechnology — 0.7%            

AnGes Inc.(a)

     10,800       134,748  

GNI Group Ltd.(a)

     3,697       69,065  

HEALIOS KK(a)

     1,800       32,004  

Pharma Foods International Co. Ltd.

     1,800       58,000  

SanBio Co. Ltd.(a)

     2,700       49,896  

Takara Bio Inc.

     4,500       128,300  
   

 

 

  
          472,013  
Building Products — 1.5%            

Aica Kogyo Co. Ltd.

     4,500       159,242  

Bunka Shutter Co. Ltd.

     4,500       39,358  

Central Glass Co. Ltd.

     2,700       57,586  

Maeda Kosen Co. Ltd.

     1,800       44,830  

Nichias Corp.

     5,400       126,203  

Nichiha Corp.

     1,800       56,274  

Nippon Sheet Glass Co. Ltd.(a)

     7,200       27,688  

Nitto Boseki Co. Ltd.

     1,800       73,364  

Noritz Corp.

     2,700       41,714  

Okabe Co. Ltd.

     2,700       20,870  

Sanwa Holdings Corp.

     16,200       197,305  

Sekisui Jushi Corp.

     2,700       56,706  

Shin Nippon Air Technologies Co. Ltd.

     900       19,325  

Sinko Industries Ltd.

     1,800       29,656  

Takara Standard Co. Ltd.

     2,700       35,732  
 

 

 

  1

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Building Products (continued)            

Takasago Thermal Engineering Co. Ltd.

     3,600     $ 49,473  
   

 

 

  
             1,035,326  
Capital Markets — 0.9%            

GMO Financial Holdings Inc.

     3,600       23,304  

JAFCO Group Co. Ltd.

     2,700       116,001  

M&A Capital Partners Co. Ltd.(a)

     900       54,375  

Marusan Securities Co. Ltd.

     4,500       20,455  

Matsui Securities Co. Ltd.

     9,900       79,751  

Monex Group Inc.

     14,400       48,196  

Okasan Securities Group Inc.

     13,500       47,773  

SPARX Group Co. Ltd.

     8,100       18,254  

Strike Co. Ltd.

     900       54,548  

Tokai Tokyo Financial Holdings Inc.

     17,100       50,509  

Uzabase Inc.(a)

     1,800       65,078  
   

 

 

  
          578,244  
Chemicals — 6.1%            

ADEKA Corp.

     7,200       114,482  

C.I. Takiron Corp.

     3,600       24,443  

Chugoku Marine Paints Ltd.

     3,600       34,317  

Daicel Corp.

     18,900       133,039  

Dainichiseika Color & Chemicals Manufacturing Co. Ltd.

     900       20,611  

Denka Co. Ltd.

     7,200       223,026  

DIC Corp.

     6,300       155,091  

DKS Co. Ltd.

     900       38,926  

Fujimi Inc.

     1,800       62,834  

Fujimori Kogyo Co. Ltd.

     900       40,781  

Fuso Chemical Co. Ltd.

     1,800       59,640  

Hodogaya Chemical Co. Ltd.

     900       39,746  

JCU Corp.

     1,800       63,611  

JSP Corp.

     900       13,007  

Kaneka Corp.

     4,500       135,507  

Kanto Denka Kogyo Co. Ltd.

     3,600       24,236  

KH Neochem Co. Ltd.

     2,700       72,164  

Koatsu Gas Kogyo Co. Ltd.

     2,700       19,601  

Konishi Co. Ltd.

     2,700       41,222  

Kumiai Chemical Industry Co. Ltd.

     7,249       70,978  

Kureha Corp.

     1,800       91,489  

Lintec Corp.

     3,600       74,399  

Nihon Nohyaku Co. Ltd.

     2,700       13,749  

Nihon Parkerizing Co. Ltd.

     7,200       75,608  

Nippon Fine Chemical Co. Ltd.

     900       12,541  

Nippon Kayaku Co. Ltd.

     11,700       102,890  

Nippon Shokubai Co. Ltd.

     2,700       135,162  

Nippon Soda Co. Ltd.

     1,800       47,419  

NOF Corp.

     6,300       279,731  

Okamoto Industries Inc.

     900       35,171  

Osaka Organic Chemical Industry Ltd.

     1,800       50,043  

Osaka Soda Co. Ltd.

     900       21,120  

Sakai Chemical Industry Co. Ltd.

     900       16,770  

Sakata INX Corp.

     3,600       39,979  

Sanyo Chemical Industries Ltd.

     900       38,667  

Shikoku Chemicals Corp.

     2,700       30,864  

Shin-Etsu Polymer Co. Ltd.

     3,600       32,453  

Showa Denko KK

     11,700       217,338  

Stella Chemifa Corp.

     900       28,914  

Sumitomo Bakelite Co. Ltd.

     2,700       83,376  

Sumitomo Seika Chemicals Co. Ltd.

     900       35,819  

T. Hasegawa Co. Ltd.

     2,700       52,097  

Taiyo Holdings Co. Ltd.

     1,800       110,650  
Security   Shares     Value  
Chemicals (continued)            

Takasago International Corp.

     900     $ 21,750  

Taki Chemical Co. Ltd.

     400       25,509  

Tayca Corp.

     900       12,627  

Tenma Corp.

     1,800       32,919  

Toagosei Co. Ltd.

     8,100       97,099  

Tokai Carbon Co. Ltd.

     17,100       187,932  

Tokuyama Corp.

     4,500       95,675  

Tokyo Ohka Kogyo Co. Ltd.

     2,700       170,376  

Toyo Gosei Co. Ltd.

     400       40,470  

Toyo Ink SC Holdings Co. Ltd.

     2,700       50,776  

Toyobo Co. Ltd.

     6,300       78,844  

Ube Industries Ltd.

     9,000       153,201  

Valqua Ltd.

     1,800       32,280  

Zeon Corp.

     11,700       145,079  
   

 

 

  
             4,158,048  
Commercial Services & Supplies — 1.9%            

Aeon Delight Co. Ltd.

     1,800       45,468  

Bell System24 Holdings Inc.

     2,700       41,506  

Central Security Patrols Co. Ltd.

     900       29,993  

Daiseki Co. Ltd.

     3,660       103,930  

Duskin Co. Ltd.

     3,600       95,770  

Japan Elevator Service Holdings Co. Ltd.

     2,700       125,970  

Kokuyo Co. Ltd.

     7,200       92,663  

Matsuda Sangyo Co. Ltd.

     960       15,844  

Mitsubishi Pencil Co. Ltd.

     2,700       37,338  

Nichiban Co. Ltd.

     900       13,991  

Nippon Kanzai Co. Ltd.

     1,800       35,801  

Nippon Parking Development Co. Ltd.

     17,100       20,827  

Okamura Corp.

     4,500       40,436  

Oyo Corp.

     1,800       20,973  

Park24 Co. Ltd.(a)

     9,000       134,299  

Pilot Corp.

     2,700       76,618  

Prestige International Inc.

     8,100       74,727  

Raksul Inc.(a)

     1,800       87,518  

Relia Inc.

     3,600       42,603  

Sato Holdings Corp.

     2,700       52,382  

Toppan Forms Co. Ltd.

     4,500       43,069  

Uchida Yoko Co. Ltd.

     900       44,277  
   

 

 

  
          1,276,003  
Communications Equipment — 0.1%            

DKK Co. Ltd.

     900       25,030  

Icom Inc.

     900       22,941  
   

 

 

  
          47,971  
Construction & Engineering — 4.9%            

Chiyoda Corp.(a)

     14,400       32,176  

Chudenko Corp.

     2,700       55,204  

COMSYS Holdings Corp.

     9,900       293,368  

Dai-Dan Co. Ltd.

     900       24,012  

Daiho Corp.

     900       29,950  

Fukuda Corp.

     900       45,658  

Hazama Ando Corp.

     16,200       106,887  

Hibiya Engineering Ltd.

     1,800       31,641  

JDC Corp.

     3,600       18,816  

JGC Holdings Corp.

     18,900       169,470  

JTOWER Inc.(a)

     900       81,563  

Kandenko Co. Ltd.

     8,100       61,988  

Kinden Corp.

     11,700       187,716  

Kumagai Gumi Co. Ltd.

     3,600       81,546  

Kyowa Exeo Corp.

     8,100       208,724  
 

 

 

2  

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Construction & Engineering (continued)            

Kyudenko Corp.

     3,600     $ 103,054  

Maeda Corp.

     11,700       91,782  

Maeda Road Construction Co. Ltd.

     3,600       57,897  

Meisei Industrial Co. Ltd.

     2,700       20,119  

Mirait Holdings Corp.

     7,200       108,060  

Nichireki Co. Ltd.

     1,800       28,241  

Nippo Corp.

     4,500       117,684  

Nippon Densetsu Kogyo Co. Ltd.

     2,700       55,851  

Nippon Koei Co. Ltd.

     900       24,469  

Nippon Road Co. Ltd. (The)

     900       63,783  

Nishimatsu Construction Co. Ltd.

     4,500       83,721  

Okumura Corp.

     2,700       63,205  

Penta-Ocean Construction Co. Ltd.

     23,400       174,364  

Raito Kogyo Co. Ltd.

     3,600       57,828  

Raiznext Corp.

     2,700       28,767  

Sanki Engineering Co. Ltd.

     3,600       39,668  

Shinnihon Corp.

     2,700       22,009  

SHO-BOND Holdings Co. Ltd.

     3,600       179,525  

Sumitomo Densetsu Co. Ltd.

     1,800       44,778  

Sumitomo Mitsui Construction Co. Ltd.

     12,600       51,838  

Taihei Dengyo Kaisha Ltd.

     900       20,809  

Taikisha Ltd.

     1,800       47,937  

Takamatsu Construction Group Co. Ltd.

     1,800       35,163  

Toa Corp./Tokyo

     900       17,176  

Toda Corp.

     19,800       116,398  

Toenec Corp.

     900       32,021  

Tokyu Construction Co. Ltd.

     7,240       32,563  

Totetsu Kogyo Co. Ltd.

     1,800       48,334  

Toyo Construction Co. Ltd.

     6,300       23,986  

Yahagi Construction Co. Ltd.

     2,700       23,356  

Yokogawa Bridge Holdings Corp.

     2,700       51,320  

Yurtec Corp.

     3,600       22,959  
   

 

 

  
             3,317,384  
Construction Materials — 0.1%            

Sumitomo Osaka Cement Co. Ltd.

     2,700       80,010  
   

 

 

  
Consumer Finance — 0.7%            

AEON Financial Service Co. Ltd.

     9,900       108,043  

Aiful Corp.(a)

     27,000       69,135  

Credit Saison Co. Ltd.

     12,600       144,397  

Hitachi Capital Corp.

     4,500       103,313  

Jaccs Co. Ltd.

     1,800       31,348  

Orient Corp.

     45,000       49,628  
   

 

 

  
          505,864  
Containers & Packaging — 0.7%            

FP Corp.

     4,000       160,537  

Fuji Seal International Inc.

     3,600       66,873  

Pack Corp. (The)

     900       24,961  

Rengo Co. Ltd.

     16,200       123,510  

Toyo Seikan Group Holdings Ltd.

     12,600       121,680  
   

 

 

  
          497,561  
Distributors — 0.3%            

Arata Corp.

     900       42,810  

Doshisha Co. Ltd.

     1,800       34,679  

PALTAC Corp.

     2,700       154,841  
   

 

 

  
          232,330  
Diversified Consumer Services — 0.3%            

Benesse Holdings Inc.

     6,300       132,435  

Japan Best Rescue System Co. Ltd.

     1,800       16,572  
Security   Shares     Value  
Diversified Consumer Services (continued)            

Litalico Inc.(a)

     900     $ 30,640  

Riso Kyoiku Co. Ltd.

     10,800       32,625  

Studio Alice Co. Ltd.

     900       16,252  
   

 

 

  
          228,524  
Diversified Financial Services — 0.8%            

eGuarantee Inc.

     1,800       35,681  

Financial Products Group Co. Ltd.

     5,400       25,738  

Fuyo General Lease Co. Ltd.

     1,800       110,132  

Japan Investment Adviser Co. Ltd.

     900       12,221  

Japan Securities Finance Co. Ltd.

     8,100       38,840  

Mizuho Leasing Co. Ltd.

     2,700       71,905  

NEC Capital Solutions Ltd.

     900       15,648  

Ricoh Leasing Co. Ltd.

     900       25,038  

Zenkoku Hosho Co. Ltd.

     4,500       206,066  
   

 

 

  
               541,269  
Diversified Telecommunication Services — 0.3%            

ARTERIA Networks Corp.

     1,800       27,464  

Internet Initiative Japan Inc.

     1,800       85,879  

V-Cube Inc.

     1,800       58,173  

Vision Inc./Tokyo Japan(a)

     1,800       19,955  
   

 

 

  
          191,471  
Electric Utilities — 0.4%            

Hokkaido Electric Power Co. Inc.

     14,400       54,134  

Hokuriku Electric Power Co.

     14,400       101,501  

Okinawa Electric Power Co. Inc. (The)

     3,692       51,375  

Shikoku Electric Power Co. Inc.

     13,500       91,920  
   

 

 

  
          298,930  
Electrical Equipment — 1.6%            

Cosel Co. Ltd.

     1,800       19,075  

Daihen Corp.

     1,800       78,370  

Denyo Co. Ltd.

     900       18,030  

Fujikura Ltd.(a)

     20,700       80,795  

Furukawa Electric Co. Ltd.

     5,400       136,923  

Futaba Corp.

     2,700       22,397  

GS Yuasa Corp.

     5,400       130,708  

Idec Corp./Japan

     2,700       47,773  

Mabuchi Motor Co. Ltd.

     4,500       201,103  

Nippon Carbon Co. Ltd.

     900       32,237  

Nissin Electric Co. Ltd.

     4,500       50,276  

Nitto Kogyo Corp.

     1,800       32,038  

Sanyo Denki Co. Ltd.

     900       44,536  

Sinfonia Technology Co. Ltd.

     1,800       22,751  

Tatsuta Electric Wire and Cable Co. Ltd.

     3,600       21,405  

Toyo Tanso Co. Ltd.

     900       15,398  

Ushio Inc.

     8,100       102,148  
   

 

 

  
          1,055,963  
Electronic Equipment, Instruments & Components — 4.6%  

Ai Holdings Corp.

     2,700       50,414  

Alps Alpine Co. Ltd.

     18,000       225,788  

Amano Corp.

     4,500       105,903  

Anritsu Corp.

     11,700       266,932  

Canon Electronics Inc.

     1,800       25,082  

Canon Marketing Japan Inc.

     3,600       75,366  

Citizen Watch Co. Ltd.

     22,500       59,338  

CONEXIO Corp.

     900       10,590  

Daiwabo Holdings Co. Ltd.

     1,800       112,549  

Dexerials Corp.

     4,500       55,023  

Elematec Corp.

     1,800       16,537  

Enplas Corp.

     900       24,417  
 

 

 

  3

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Electronic Equipment, Instruments & Components (continued)  

ESPEC Corp.

     1,800     $ 33,488  

Hioki E.E. Corp.

     900       33,877  

Hochiki Corp.

     900       10,754  

Horiba Ltd.

     3,200       171,853  

Hosiden Corp.

     4,500       37,804  

I-PEX Inc.

     900       16,960  

Iriso Electronics Co. Ltd.

     1,800       72,932  

Japan Aviation Electronics Industry Ltd.

     3,600       48,334  

Japan Display Inc.(a)

     53,100       25,461  

Kaga Electronics Co. Ltd.

     1,800       37,372  

Koa Corp.

     1,800       24,702  

Macnica Fuji Electronics Holdings Inc.

     4,500       89,202  

Maruwa Co. Ltd./Aichi

     900       95,632  

Meiko Electronics Co. Ltd.

     1,800       34,524  

Nichicon Corp.

     3,600       37,769  

Nippon Ceramic Co. Ltd.

     1,800       49,490  

Nippon Electric Glass Co. Ltd.

     7,200       157,568  

Nippon Signal Co. Ltd.

     3,600       32,142  

Nissha Co. Ltd.

     3,600       47,505  

Nohmi Bosai Ltd.

     1,800       39,064  

Oki Electric Industry Co. Ltd.

     7,200       62,558  

Optex Group Co. Ltd.

     2,700       48,860  

Restar Holdings Corp.

     1,800       38,701  

Riken Keiki Co. Ltd.

     900       24,150  

Ryosan Co. Ltd.

     1,800       32,021  

Ryoyo Electro Corp.

     900       23,753  

Sanshin Electronics Co. Ltd.

     900       18,522  

Shinko Shoji Co. Ltd.

     1,800       13,257  

Siix Corp.

     2,700       40,549  

Tachibana Eletech Co. Ltd.

     900       14,215  

Taiyo Yuden Co. Ltd.

     9,900       449,547  

Tamura Corp.

     6,300       32,323  

Topcon Corp.

     9,000       114,534  

V Technology Co. Ltd.

     900       45,485  

Yokowo Co. Ltd.

     900       20,956  
   

 

 

  
             3,103,803  
Energy Equipment & Services — 0.0%            

Modec Inc.

     1,800       30,554  
   

 

 

  
Entertainment — 1.2%            

Akatsuki Inc.

     900       38,710  

Amuse Inc.

     900       22,225  

Avex Inc.

     2,700       24,391  

COLOPL Inc.

     4,500       39,444  

Daiichikosho Co. Ltd.

     3,600       116,346  

DeNA Co. Ltd.

     7,200       126,358  

GungHo Online Entertainment Inc.

     3,600       91,592  

HEROZ Inc.(a)

     900       25,099  

KLab Inc.(a)

     2,700       26,359  

Marvelous Inc.

     2,700       23,485  

Shochiku Co. Ltd.

     900       112,290  

Toei Animation Co. Ltd.

     900       65,596  

Toei Co. Ltd.

     500       80,269  

UUUM Inc.(a)

     900       16,011  
   

 

 

  
          808,175  
Equity Real Estate Investment Trusts (REITs) — 8.5%  

Activia Properties Inc.

     54       201,966  

Advance Residence Investment Corp.

     117       338,293  

AEON REIT Investment Corp.

     135       158,077  

Comforia Residential REIT Inc.

     54       149,817  
Security   Shares     Value  
Equity Real Estate Investment Trusts (REITs) (continued)  

CRE Logistics REIT Inc.

     36     $ 53,961  

Daiwa Office Investment Corp.

     27       155,099  

Daiwa Securities Living Investments Corp.

     153       131,614  

Frontier Real Estate Investment Corp.

     45       161,832  

Fukuoka REIT Corp.

     63       83,919  

Global One Real Estate Investment Corp.

     90       86,655  

Hankyu Hanshin REIT Inc.

     45       52,002  

Heiwa Real Estate REIT Inc.

     72       80,648  

Hoshino Resorts REIT Inc.

     18       86,310  

Hulic Reit Inc.

     99       134,627  

Ichigo Office REIT Investment Corp.

     108       72,708  

Industrial & Infrastructure Fund Investment Corp.

     162       273,431  

Invesco Office J-Reit Inc.

     783       103,324  

Invincible Investment Corp.

     540       160,278  

Itochu Advance Logistics Investment Corp.

     36       44,329  

Japan Excellent Inc.

     108       128,637  

Japan Hotel REIT Investment Corp.

     387       190,763  

Japan Logistics Fund Inc.

     72       203,692  

Japan Prime Realty Investment Corp.

     72       211,633  

Kenedix Office Investment Corp.

     36       228,549  

Kenedix Residential Next Investment Corp.

     81       138,347  

Kenedix Retail REIT Corp.

     45       99,818  

LaSalle Logiport REIT

     135       202,225  

MCUBS MidCity Investment Corp.

     144       113,930  

Mirai Corp.

     144       53,098  

Mitsubishi Estate Logistics REIT Investment Corp.

     27            103,184  

Mitsui Fudosan Logistics Park Inc.

     46       218,806  

Mori Hills REIT Investment Corp.

     135       178,533  

Mori Trust Hotel Reit Inc.

     27       29,881  

Mori Trust Sogo REIT Inc.

     90       108,578  

Nippon Accommodations Fund Inc.

     36       199,204  

Nippon REIT Investment Corp.

     36       121,007  

One REIT Inc.

     18       42,344  

Premier Investment Corp.

     117       134,195  

Samty Residential Investment Corp.

     27       27,369  

Sekisui House Reit Inc.

     360       257,550  

SOSiLA Logistics REIT Inc.

     45       53,771  

Star Asia Investment Corp.

     126       58,121  

Starts Proceed Investment Corp.

     18       33,713  

Takara Leben Real Estate Investment Corp.

     36       30,934  

Tokyu REIT Inc.

     72       104,884  
   

 

 

  
          5,801,656  
Food & Staples Retailing — 3.1%            

Aeon Hokkaido Corp.

     900       8,251  

Ain Holdings Inc.

     2,200       150,007  

Arcs Co. Ltd.

     3,600       75,332  

Axial Retailing Inc.

     900       40,954  

Belc Co. Ltd.

     900       52,736  

Cawachi Ltd.

     900       25,876  

cocokara fine Inc.

     1,800       131,019  

Create SD Holdings Co. Ltd.

     2,700       96,063  

G-7 Holdings Inc.

     900       21,025  

Genky DrugStores Co. Ltd.

     900       35,819  

Halows Co. Ltd.

     900       29,863  

Heiwado Co. Ltd.

     2,700       54,997  

Inageya Co. Ltd.

     1,800       35,197  

JM Holdings Co. Ltd.

     900       21,017  

Kansai Super Market Ltd.

     900       10,806  

Kato Sangyo Co. Ltd.

     1,800       59,640  

Kusuri no Aoki Holdings Co. Ltd.

     1,400       116,806  
 

 

 

4  

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Food & Staples Retailing (continued)  

Life Corp.

     1,800     $ 63,611  

Matsumotokiyoshi Holdings Co. Ltd.

     6,300       295,138  

Maxvalu Tokai Co. Ltd.

     900       22,510  

Ministop Co. Ltd.

     900       11,652  

Mitsubishi Shokuhin Co. Ltd.

     1,800       47,609  

Nihon Chouzai Co. Ltd.

     900       13,076  

Okuwa Co. Ltd.

     1,800       23,114  

Qol Holdings Co. Ltd.

     1,800       17,987  

Retail Partners Co. Ltd.

     1,800       25,565  

San-A Co. Ltd.

     1,800       69,652  

Shoei Foods Corp.

     900       32,539  

Sugi Holdings Co. Ltd.

     3,000       199,377  

United Super Markets Holdings Inc.

     4,500       46,651  

Valor Holdings Co. Ltd.

     2,700       67,115  

YAKUODO Holdings Co. Ltd.

     900       20,723  

Yaoko Co. Ltd.

     1,800       123,251  

Yokohama Reito Co. Ltd.

     3,600       29,345  
   

 

 

  
             2,074,323  
Food Products — 4.2%            

Ariake Japan Co. Ltd.

     1,800       119,281  

Chubu Shiryo Co. Ltd.

     1,800       24,115  

DyDo Group Holdings Inc.

     900       48,161  

Ezaki Glico Co. Ltd.

     3,600       150,007  

Feed One Co. Ltd.

     1,960       16,635  

Fuji Oil Holdings Inc.

     4,500       120,662  

Fujicco Co. Ltd.

     1,800       33,816  

Fujiya Co. Ltd.

     900       20,404  

Hokuto Corp.

     1,800       35,560  

House Foods Group Inc.

     5,400       186,430  

Itoham Yonekyu Holdings Inc.

     12,600       79,026  

J-Oil Mills Inc.

     900       30,726  

Kagome Co. Ltd.

     7,200       263,074  

Kameda Seika Co. Ltd.

     900       42,421  

Kewpie Corp.

     9,000       187,638  

KEY Coffee Inc.

     1,800       36,388  

Kotobuki Spirits Co. Ltd.

     1,800       92,179  

Marudai Food Co. Ltd.

     1,800       28,603  

Maruha Nichiro Corp.

     3,600       73,329  

Megmilk Snow Brand Co. Ltd.

     4,500       96,538  

Mitsui Sugar Co. Ltd.

     900       15,441  

Morinaga & Co. Ltd./Japan

     3,600       131,537  

Morinaga Milk Industry Co. Ltd.

     3,600       175,037  

Nagatanien Holdings Co. Ltd.

     900       19,420  

Nichirei Corp.

     9,900       269,064  

Nippon Flour Mills Co. Ltd.

     3,600       56,171  

Nippon Suisan Kaisha Ltd.

     24,300       93,448  

Nisshin Oillio Group Ltd. (The)

     1,800       50,164  

Prima Meat Packers Ltd.

     2,700       74,753  

Riken Vitamin Co. Ltd.

     1,800       22,993  

Rock Field Co. Ltd.

     900       12,575  

Rokko Butter Co. Ltd.

     900       16,287  

S Foods Inc.

     1,800       54,203  

Sakata Seed Corp.

     2,700       87,130  

Showa Sangyo Co. Ltd.

     1,800       54,548  

Starzen Co. Ltd.

     900       36,639  
   

 

 

  
          2,854,403  
Gas Utilities — 0.4%            

K&O Energy Group Inc.

     900       12,601  

Nippon Gas Co. Ltd.

     2,700       136,716  
Security   Shares     Value  
Gas Utilities (continued)  

Saibu Gas Co. Ltd.

     1,800     $ 61,280  

Shizuoka Gas Co. Ltd.

     4,500       42,680  
   

 

 

  
          253,277  
Health Care Equipment & Supplies — 2.0%            

CYBERDYNE Inc.(a)

     9,900       84,213  

Eiken Chemical Co. Ltd.

     2,700       50,155  

Hogy Medical Co. Ltd.

     1,800       54,548  

Japan Lifeline Co. Ltd.

     5,400       74,468  

Jeol Ltd.

     3,600       141,376  

Mani Inc.

     6,300       154,547  

Menicon Co. Ltd.

     2,700       167,787  

Nagaileben Co. Ltd.

     1,800       46,642  

Nakanishi Inc.

     6,300       128,568  

Nihon Kohden Corp.

     7,200       227,859  

Nipro Corp.

     11,700       125,668  

Paramount Bed Holdings Co. Ltd.

     1,800       73,623  
   

 

 

  
             1,329,454  
Health Care Providers & Services — 1.2%            

As One Corp.

     1,100       169,207  

BML Inc.

     1,800       56,620  

Elan Corp.

     900       27,533  

H.U. Group Holdings Inc.

     4,500       121,956  

Japan Medical Dynamic Marketing Inc.

     900       20,240  

Ship Healthcare Holdings Inc.

     3,600       179,525  

Solasto Corp.

     4,500       65,466  

Toho Holdings Co. Ltd.

     4,500       82,124  

Tokai Corp./Gifu

     1,800       35,094  

Tsukui Holdings Corp.

     4,500       24,944  

Vital KSK Holdings Inc.

     3,600       29,725  
   

 

 

  
          812,434  
Health Care Technology — 0.4%            

EM Systems Co. Ltd.

     2,700       21,232  

JMDC Inc.(a)

     900       45,744  

Medical Data Vision Co. Ltd.(a)

     1,800       53,858  

Medley Inc.(a)

     1,800       91,144  

MedPeer Inc.(a)

     900       57,051  
   

 

 

  
          269,029  
Hotels, Restaurants & Leisure — 3.7%            

Aeon Fantasy Co. Ltd.

     900       18,988  

Arcland Service Holdings Co. Ltd.

     1,800       35,577  

Atom Corp.

     8,100       63,386  

BRONCO BILLY Co. Ltd.

     900       19,860  

Colowide Co. Ltd.

     5,400       79,854  

Create Restaurants Holdings Inc.(a)

     8,100       42,801  

Curves Holdings Co. Ltd.

     4,500       31,158  

Doutor Nichires Holdings Co. Ltd.

     2,700       37,364  

Fuji Kyuko Co. Ltd.

     1,800       83,289  

Fujio Food Group Inc.

     1,800       24,547  

Hiday Hidaka Corp.

     1,884       30,589  

HIS Co. Ltd.(a)

     3,600       55,584  

Ichibanya Co. Ltd.

     900       44,191  

Kappa Create Co. Ltd.(a)

     2,700       36,432  

KFC Holdings Japan Ltd.

     900       24,901  

Kisoji Co. Ltd.

     1,800       40,721  

KOMEDA Holdings Co. Ltd.

     4,500       80,269  

Koshidaka Holdings Co. Ltd.

     3,600       13,706  

Kura Sushi Inc.

     900       48,765  

Kyoritsu Maintenance Co. Ltd.

     2,780       96,910  

Matsuyafoods Holdings Co. Ltd.

     900       29,604  
 

 

 

  5

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Hotels, Restaurants & Leisure (continued)  

Monogatari Corp. (The)

     400     $ 44,229  

MOS Food Services Inc.

     1,800       46,659  

Ohsho Food Service Corp.

     900       51,786  

Plenus Co. Ltd.

     1,800       29,984  

Resorttrust Inc.

     7,200       112,411  

Ringer Hut Co. Ltd.

     1,800       38,184  

Round One Corp.

     5,400       44,484  

Royal Holdings Co. Ltd.

     2,700       46,141  

Saizeriya Co. Ltd.

     2,700       46,349  

SFP Holdings Co. Ltd.(a)

     900       10,996  

Skylark Holdings Co. Ltd.

     17,100       259,267  

St. Marc Holdings Co. Ltd.

     1,800       24,806  

Sushiro Global Holdings Ltd.

     9,000       286,550  

TKP Corp.(a)

     900       25,565  

Tokyo Dome Corp.

     7,200       93,008  

Tokyotokeiba Co. Ltd.

     900       44,622  

Toridoll Holdings Corp.

     3,600       48,403  

Tosho Co. Ltd.

     1,800       22,959  

WATAMI Co. Ltd.

     1,800       15,311  

Yoshinoya Holdings Co. Ltd.

     5,400       98,704  

Zensho Holdings Co. Ltd.

     8,100       202,743  
   

 

 

  
             2,531,657  
Household Durables — 1.7%            

Chofu Seisakusho Co. Ltd.

     1,800       35,215  

ES-Con Japan Ltd.

     2,700       23,873  

Foster Electric Co. Ltd.

     1,800       19,299  

France Bed Holdings Co. Ltd.

     1,800       14,690  

Fujitsu General Ltd.

     5,400       163,903  

Haseko Corp.

     23,400       253,355  

JVCKenwood Corp.

     900       1,217  

LEC Inc.

     1,800       26,722  

Nikon Corp.

     25,200       156,843  

Pressance Corp.

     2,700       45,416  

Sangetsu Corp.

     4,500       63,222  

Sumitomo Forestry Co. Ltd.

     10,800       196,891  

Tama Home Co. Ltd.

     900       12,420  

Tamron Co. Ltd.

     900       13,801  

Token Corp.

     920       71,377  

Zojirushi Corp.

     2,700       48,834  
   

 

 

  
          1,147,078  
Household Products — 0.1%            

Earth Corp.

     900       53,081  

S.T. Corp.

     900       17,581  
   

 

 

  
          70,662  
Independent Power and Renewable Electricity Producers — 0.5%  

Electric Power Development Co. Ltd.

     12,600       169,651  

eRex Co. Ltd.

     1,800       33,903  

RENOVA Inc.(a)

     2,700       67,063  

West Holdings Corp.

     1,800       69,911  
   

 

 

  
          340,528  
Industrial Conglomerates — 0.4%            

Katakura Industries Co. Ltd.

     1,800       23,615  

Mie Kotsu Group Holdings Inc.

     3,600       16,123  

Nisshinbo Holdings Inc.

     11,700       83,030  

Noritsu Koki Co. Ltd.

     1,800       38,460  

TOKAI Holdings Corp.

     8,100       76,980  
   

 

 

  
          238,208  
Insurance — 0.2%            

Anicom Holdings Inc.

     6,300       66,036  
Security   Shares     Value  
Insurance (continued)  

LIFENET INSURANCE Co.(a)

     2,700     $ 41,092  
   

 

 

  
          107,128  
Interactive Media & Services — 0.8%            

Bengo4.com Inc.(a)

     900       97,444  

COOKPAD Inc.(a)

     4,500       13,810  

Dip Corp.

     2,700       63,024  

GA Technologies Co. Ltd./Japan(a)

     900       31,072  

giftee Inc.(a)

     900       26,238  

Gree Inc.

     9,900       55,541  

Gurunavi Inc.

     1,800       8,925  

ITmedia Inc.

     900       22,095  

Itokuro Inc.(a)

     900       13,205  

Kamakura Shinsho Ltd.

     2,700       27,757  

Lifull Co. Ltd.

     6,300       23,623  

Mixi Inc.

     3,600       98,428  

MTI Ltd.

     1,800       14,535  

PR Times Inc.(a)

     900       30,640  

ZIGExN Co. Ltd.

     4,500       14,112  
   

 

 

  
                540,449  
Internet & Direct Marketing Retail — 0.5%            

ASKUL Corp.

     1,800       72,069  

Belluna Co. Ltd.

     4,500       41,256  

Demae-Can Co. Ltd.(a)

     2,700       84,541  

Enigmo Inc.

     1,800       22,872  

Media Do Co. Ltd.

     900       64,733  

Oisix ra daichi Inc.(a)

     1,800       55,670  

Open Door Inc.(a)

     900       10,884  
   

 

 

  
          352,025  
IT Services — 3.6%            

Argo Graphics Inc.

     1,800       55,239  

BASE Inc.(a)

     1,300       119,559  

Change Inc.(a)

     1,300       100,983  

Comture Corp.

     1,800       55,756  

Digital Garage Inc.

     2,700       109,398  

DTS Corp.

     3,600       75,953  

Future Corp.

     1,800       30,675  

GMO GlobalSign Holdings KK

     400       39,588  

GMO internet Inc.

     6,300       177,385  

Hennge KK(a)

     500       33,757  

Ines Corp.

     1,800       24,581  

Infocom Corp.

     1,800       63,179  

Infomart Corp.

     16,200       166,389  

Information Services International-Dentsu Ltd.

     900       60,331  

Kanematsu Electronics Ltd.

     900       34,869  

LAC Co. Ltd.

     1,800       19,195  

Mitsubishi Research Institute Inc.

     900       35,905  

NEC Networks & System Integration Corp.

     5,400       95,131  

NET One Systems Co. Ltd.

     7,300       260,427  

Nihon Unisys Ltd.

     6,300       233,210  

NS Solutions Corp.

     2,700       79,880  

NSD Co. Ltd.

     6,300       120,532  

Oro Co. Ltd.

     900       33,575  

SB Technology Corp.

     900       31,244  

SHIFT Inc.(a)

     900       133,522  

TechMatrix Corp.

     2,700       59,450  

TerraSky Co. Ltd.(a)

     900       42,206  

TKC Corp.

     900       59,899  

Transcosmos Inc.

     1,800       46,608  
 

 

 

6  

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
IT Services (continued)  

Zuken Inc.

     900     $ 22,803  
   

 

 

  
             2,421,229  
Leisure Products — 0.5%            

Heiwa Corp.

     5,416       73,806  

Mars Group Holdings Corp.

     900       13,792  

Mizuno Corp.

     1,800       31,279  

Sankyo Co. Ltd.

     3,600       88,658  

Tomy Co. Ltd.

     8,100       72,475  

Universal Entertainment Corp.(a)

     1,800       36,250  

Yonex Co. Ltd.

     3,600       20,646  
   

 

 

  
          336,906  
Life Sciences Tools & Services — 0.0%            

EPS Holdings Inc.

     2,700       24,831  
   

 

 

  
Machinery — 5.6%            

Aichi Corp.

     2,700       24,029  

Aida Engineering Ltd.

     3,600       30,519  

Anest Iwata Corp.

     2,700       25,556  

CKD Corp.

     4,500       96,020  

Daiwa Industries Ltd.

     1,800       17,711  

DMG Mori Co. Ltd.

     9,900       146,399  

Ebara Corp.

     8,100       259,449  

Fuji Corp./Aichi

     5,400       130,967  

Fujitec Co. Ltd.

     5,400       110,408  

Fukushima Galilei Co. Ltd.

     900       37,933  

Furukawa Co. Ltd.

     2,700       29,414  

Giken Ltd.

     1,800       70,774  

Glory Ltd.

     4,500       90,626  

Hirata Corp.

     900       71,983  

Hitachi Zosen Corp.

     14,400       55,515  

Hosokawa Micron Corp.

     500       30,352  

IHI Corp.

     11,700       174,027  

Iseki & Co. Ltd.

     1,800       23,632  

Japan Steel Works Ltd. (The)

     5,400       132,055  

Kawasaki Heavy Industries Ltd.(a)

     11,700       169,988  

Kitz Corp.

     5,400       29,156  

Komori Corp.

     4,500       30,770  

Kyokuto Kaihatsu Kogyo Co. Ltd.

     2,700       35,758  

Makino Milling Machine Co. Ltd.

     1,800       72,501  

Max Co. Ltd.

     1,800       24,167  

Meidensha Corp.

     2,700       47,074  

METAWATER Co. Ltd.

     1,800       40,790  

Mitsubishi Logisnext Co. Ltd.

     1,800       19,126  

Mitsuboshi Belting Ltd.

     1,800       28,154  

Morita Holdings Corp.

     2,700       46,193  

Nachi-Fujikoshi Corp.

     900       37,200  

Nikkiso Co. Ltd.

     3,600       34,351  

Nippon Sharyo Ltd.(a)

     900       21,422  

Nippon Thompson Co. Ltd.

     400       1,258  

Nissei ASB Machine Co. Ltd.

     900       49,197  

Nitta Corp.

     1,800       38,080  

Nitto Kohki Co. Ltd.

     900       14,362  

Nittoku Co. Ltd.

     900       35,776  

Noritake Co. Ltd./Nagoya Japan

     900       25,298  

NTN Corp.(a)

     34,200       71,499  

Obara Group Inc.

     900       29,259  

Oiles Corp.

     1,896       28,983  

OKUMA Corp.

     1,800       103,917  

Organo Corp.

     900       51,182  

OSG Corp.

     7,200       130,294  
Security   Shares     Value  
Machinery (continued)  

Ryobi Ltd.

     1,800     $ 20,991  

Shibaura Machine Co. Ltd.

     1,800       39,720  

Shibuya Corp.

     900       31,503  

Shima Seiki Manufacturing Ltd.

     1,800       30,053  

Shinmaywa Industries Ltd.

     4,500       35,646  

Sintokogio Ltd.

     3,600       24,547  

Sodick Co. Ltd.

     3,600       28,759  

Star Micronics Co. Ltd.

     2,700       38,089  

Sumitomo Heavy Industries Ltd.

     9,900       213,903  

Tadano Ltd.

     8,100       63,930  

Takeuchi Manufacturing Co. Ltd.

     2,700       63,619  

Takuma Co. Ltd.

     5,400       92,853  

Teikoku Sen-I Co. Ltd.

     1,800       44,415  

Tocalo Co. Ltd.

     4,500       53,728  

Tsubaki Nakashima Co. Ltd.

     2,700       22,812  

Tsubakimoto Chain Co.

     1,800       43,656  

Tsugami Corp.

     3,600       56,965  

Tsukishima Kikai Co. Ltd.

     1,800       20,732  

Tsurumi Manufacturing Co. Ltd.

     1,800       29,535  

Union Tool Co.

     900       26,454  

YAMABIKO Corp.

     2,700       36,613  

Yamashin-Filter Corp.

     2,700       27,602  
   

 

 

  
             3,819,249  
Marine — 0.5%            

Iino Kaiun Kaisha Ltd.

     5,400       20,041  

Kawasaki Kisen Kaisha Ltd.(a)

     3,600       58,311  

Mitsui OSK Lines Ltd.

     9,900       259,000  

NS United Kaiun Kaisha Ltd.

     900       11,436  
   

 

 

  
          348,788  
Media — 0.9%            

Digital Holdings Inc.

     1,800       32,228  

FAN Communications Inc.

     4,500       18,039  

Fuji Media Holdings Inc.

     3,600       37,528  

Gakken Holdings Co. Ltd.

     1,800       28,206  

Kadokawa Corp.

     4,508       143,098  

Nippon Television Holdings Inc.

     4,500       49,067  

Proto Corp.

     1,800       18,177  

RPA Holdings Inc.(a)

     1,800       11,617  

SKY Perfect JSAT Holdings Inc.

     11,700       53,072  

TBS Holdings Inc.

     2,700       48,394  

TV Asahi Holdings Corp.

     1,800       29,069  

ValueCommerce Co. Ltd.

     1,800       60,072  

Vector Inc.(a)

     2,700       23,822  

Wowow Inc.

     900       24,486  

Zenrin Co. Ltd.

     2,700       33,558  
   

 

 

  
          610,433  
Metals & Mining — 2.0%            

Aichi Steel Corp.

     900       22,009  

Asahi Holdings Inc.

     2,700       80,398  

Daido Steel Co. Ltd.

     2,700       112,376  

Dowa Holdings Co. Ltd.

     4,500       148,885  

Godo Steel Ltd.

     900       16,010  

Kobe Steel Ltd.(a)

     26,100       126,401  

Kyoei Steel Ltd.

     1,800       25,789  

Maruichi Steel Tube Ltd.

     4,500       94,769  

Mitsubishi Materials Corp.

     9,900       188,174  

Mitsui Mining & Smelting Co. Ltd.

     5,400       153,183  

Nippon Light Metal Holdings Co. Ltd.

     4,900       84,208  

Osaka Steel Co. Ltd.

     900       10,254  
 

 

 

  7

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Metals & Mining (continued)  

OSAKA Titanium Technologies Co. Ltd.

     1,800     $ 14,500  

Pacific Metals Co. Ltd.

     1,800       31,935  

Sanyo Special Steel Co. Ltd.(a)

     1,800       21,578  

Toho Titanium Co. Ltd.

     2,700       17,840  

Tokyo Steel Manufacturing Co. Ltd.

     8,100       50,958  

UACJ Corp.

     2,714       46,615  

Yamato Kogyo Co. Ltd.

     3,600       91,351  

Yodogawa Steel Works Ltd.

     1,800       34,058  
   

 

 

  
             1,371,291  
Multiline Retail — 1.1%            

Fuji Co. Ltd./Ehime

     1,800       33,160  

H2O Retailing Corp.

     8,135       50,164  

Isetan Mitsukoshi Holdings Ltd.

     28,800       154,944  

Izumi Co. Ltd.

     2,700       93,215  

J Front Retailing Co. Ltd.

     19,800       158,932  

Kintetsu Department Store Co. Ltd.

     900       28,439  

Matsuya Co. Ltd.

     2,700       18,617  

Seria Co. Ltd.

     3,600       126,876  

Takashimaya Co. Ltd.

     11,700       90,099  
   

 

 

  
          754,446  
Oil, Gas & Consumable Fuels — 0.6%            

Cosmo Energy Holdings Co. Ltd.

     4,500       76,557  

Itochu Enex Co. Ltd.

     4,500       43,155  

Iwatani Corp.

     2,700       147,073  

Japan Petroleum Exploration Co. Ltd.

     2,700       45,520  

Mitsuuroko Group Holdings Co. Ltd.

     2,700       33,454  

San-Ai Oil Co. Ltd.

     5,400       59,761  

Sinanen Holdings Co. Ltd.

     900       25,531  
   

 

 

  
          431,051  
Paper & Forest Products — 0.4%            

Daiken Corp.

     900       17,046  

Daio Paper Corp.

     5,400       93,526  

Hokuetsu Corp.

     7,200       24,236  

Nippon Paper Industries Co. Ltd.

     9,000       97,099  

Tokushu Tokai Paper Co. Ltd.

     900       46,176  
   

 

 

  
          278,083  
Personal Products — 1.4%            

Euglena Co. Ltd.(a)

     7,200       56,689  

Fancl Corp.

     7,200       292,419  

Kitanotatsujin Corp.

     5,400       26,359  

Mandom Corp.

     2,700       42,387  

Milbon Co. Ltd.

     1,800       102,882  

Noevir Holdings Co. Ltd.

     1,800       74,140  

Rohto Pharmaceutical Co. Ltd.

     8,100       266,051  

Shinnihonseiyaku Co. Ltd.

     900       27,662  

YA-MAN Ltd.

     2,700       60,176  
   

 

 

  
          948,765  
Pharmaceuticals — 1.6%            

ASKA Pharmaceutical Co. Ltd.

     1,800       29,415  

Daito Pharmaceutical Co. Ltd.

     900       31,244  

Fuji Pharma Co. Ltd.

     900       10,771  

JCR Pharmaceuticals Co. Ltd.

     4,900       127,816  

Kaken Pharmaceutical Co. Ltd.

     2,700       98,653  

Kissei Pharmaceutical Co. Ltd.

     2,700       54,116  

KYORIN Holdings Inc.

     3,600       64,802  

Mochida Pharmaceutical Co. Ltd.

     1,800       69,221  

Nichi-Iko Pharmaceutical Co. Ltd.

     4,550       43,635  

Sawai Pharmaceutical Co. Ltd.

     3,600       162,781  

Seikagaku Corp.

     3,600       34,282  
Security   Shares     Value  
Pharmaceuticals (continued)  

Sosei Group Corp.(a)

     6,300     $ 95,580  

Taiko Pharmaceutical Co. Ltd.

     1,800       29,087  

Torii Pharmaceutical Co. Ltd.

     900       27,317  

Towa Pharmaceutical Co. Ltd.

     2,700       49,223  

Tsumura & Co.

     4,500       131,407  

ZERIA Pharmaceutical Co. Ltd.

     1,800       32,245  
   

 

 

  
             1,091,595  
Professional Services — 2.8%            

Altech Corp.

     980       19,689  

BayCurrent Consulting Inc.

     1,100       183,342  

Benefit One Inc.

     6,300       203,606  

BeNEXT Group Inc.

     1,800       19,679  

en-japan Inc.

     2,700       84,153  

FULLCAST Holdings Co. Ltd.

     1,800       29,225  

Funai Soken Holdings Inc.

     2,700       65,147  

Grace Technology Inc.

     900       71,896  

Insource Co. Ltd.

     900       31,848  

IR Japan Holdings Ltd.

     700       111,772  

JAC Recruitment Co. Ltd.

     900       16,002  

Link And Motivation Inc.

     2,700       14,448  

Makuake Inc.(a)

     400       41,122  

Meitec Corp.

     1,800       82,944  

Nomura Co. Ltd.

     7,200       53,858  

Outsourcing Inc.

     9,900       136,146  

Pasona Group Inc.

     1,800       31,141  

SMS Co. Ltd.

     6,300       228,679  

S-Pool Inc.

     4,500       32,841  

Tanseisha Co. Ltd.

     3,600       26,307  

TechnoPro Holdings Inc.

     3,200       270,055  

UT Group Co. Ltd.(a)

     2,700       85,318  

WDB Holdings Co. Ltd.

     900       24,512  

World Holdings Co. Ltd.

     900       17,556  

YAMADA Consulting Group Co. Ltd.

     100       930  

Yumeshin Holdings Co. Ltd.

     3,600       24,270  
   

 

 

  
          1,906,486  
Real Estate Management & Development — 2.3%            

Daibiru Corp.

     4,500       57,957  

Goldcrest Co. Ltd.

     900       12,127  

Heiwa Real Estate Co. Ltd.

     2,700       88,554  

Ichigo Inc.

     22,500       71,206  

Katitas Co. Ltd.

     4,500       133,781  

Keihanshin Building Co. Ltd.

     2,700       49,663  

Kenedix Inc.

     19,800       144,121  

Leopalace21 Corp.(a)

     17,100       25,418  

Open House Co. Ltd.

     5,400       214,136  

Raysum Co. Ltd.

     900       8,804  

Relo Group Inc.

     9,900       276,564  

SAMTY Co. Ltd.

     2,700       42,827  

SRE Holdings Corp.(a)

     900       28,569  

Starts Corp. Inc.

     2,700       72,992  

Sun Frontier Fudousan Co. Ltd.

     2,700       23,847  

Takara Leben Co. Ltd.

     7,200       20,438  

TOC Co. Ltd.

     2,700       16,546  

Tokyo Tatemono Co. Ltd.

     16,200       222,629  

Tosei Corp.

     2,700       30,114  
   

 

 

  
          1,540,293  
Road & Rail — 2.2%            

Fukuyama Transporting Co. Ltd.

     2,700       119,885  

Hamakyorex Co. Ltd.

     900       25,211  
 

 

 

8  

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Road & Rail (continued)  

Hitachi Transport System Ltd.

     3,600     $ 107,370  

Maruzen Showa Unyu Co. Ltd.

     900       28,871  

Nankai Electric Railway Co. Ltd.

     9,000       226,306  

Nikkon Holdings Co. Ltd.

     5,400       105,230  

Nishi-Nippon Railroad Co. Ltd.

     5,400       153,235  

Sakai Moving Service Co. Ltd.

     900       44,622  

Sankyu Inc.

     4,500       165,931  

Seino Holdings Co. Ltd.

     11,700       164,041  

Senko Group Holdings Co. Ltd.

     9,000       83,721  

Sotetsu Holdings Inc.

     6,300       154,003  

Tonami Holdings Co. Ltd.

     900       50,492  

Trancom Co. Ltd.

     900       72,328  
   

 

 

  
             1,501,246  
Semiconductors & Semiconductor Equipment — 1.8%  

Ferrotec Holdings Corp.

     2,700       32,055  

Japan Material Co. Ltd.

     5,400       75,142  

Megachips Corp.

     1,800       49,318  

Micronics Japan Co. Ltd.(a)

     2,700       25,505  

Mimasu Semiconductor Industry Co. Ltd.

     900       24,167  

Mitsui High-Tec Inc.

     1,800       49,697  

Optorun Co. Ltd.

     1,800       37,700  

Rorze Corp.

     900       46,780  

RS Technologies Co. Ltd.

     900       38,537  

Sanken Electric Co. Ltd.

     1,800       65,855  

SCREEN Holdings Co. Ltd.

     3,600       240,288  

Shinko Electric Industries Co. Ltd.

     6,300       139,624  

Tokyo Seimitsu Co. Ltd.

     3,600       158,983  

Tri Chemical Laboratories Inc.

     500       67,658  

Ulvac Inc.

     3,600       145,692  
   

 

 

  
          1,197,001  
Software — 2.3%            

AI inside Inc.(a)

     100       65,404  

Alpha Systems Inc.

     900       30,381  

Broadleaf Co. Ltd.

     8,100       50,336  

Chatwork Co. Ltd.(a)

     900       11,609  

Computer Engineering & Consulting Ltd.

     1,800       26,187  

Cybozu Inc.

     1,800       49,542  

Digital Arts Inc.

     900       77,075  

Ebase Co. Ltd.

     1,800       18,280  

Fixstars Corp.

     1,800       17,935  

Freee KK(a)

     1,800       159,156  

Fuji Soft Inc.

     2,700       131,019  

Fukui Computer Holdings Inc.

     900       28,957  

Justsystems Corp.

     2,700       182,028  

Miroku Jyoho Service Co. Ltd.

     1,800       35,197  

Money Forward Inc.(a)

     2,600       117,689  

OBIC Business Consultants Co. Ltd.

     1,800       127,739  

Optim Corp.(a)

     1,800       53,167  

PKSHA Technology Inc.(a)

     900       19,860  

Rakus Co. Ltd.

     6,300       147,237  

Sansan Inc.(a)

     900       54,117  

Sourcenext Corp.

     7,200       21,612  

Systena Corp.

     6,300       129,897  

UNITED Inc./Japan

     900       13,482  
   

 

 

  
          1,567,906  
Specialty Retail — 2.6%            

Adastria Co. Ltd.

     2,700       44,018  

Alpen Co. Ltd.

     900       18,859  

AOKI Holdings Inc.

     3,600       14,120  
Security   Shares     Value  
Specialty Retail (continued)  

Arcland Sakamoto Co. Ltd.

     2,700     $ 46,323  

Asahi Co. Ltd.

     1,800       26,912  

Autobacs Seven Co. Ltd.

     6,300       78,301  

Bic Camera Inc.

     8,100       87,078  

Chiyoda Co. Ltd.

     1,800       15,415  

DCM Holdings Co. Ltd.

     9,000       102,364  

EDION Corp.

     7,200       67,322  

Geo Holdings Corp.

     2,700       32,858  

IDOM Inc.

     5,400       29,622  

JINS Holdings Inc.

     900       61,367  

Joshin Denki Co. Ltd.

     900       23,666  

Joyful Honda Co. Ltd.

     5,400       75,245  

Keiyo Co. Ltd.

     2,700       19,213  

Kohnan Shoji Co. Ltd.

     1,800       55,756  

Kojima Co. Ltd.

     2,700       19,549  

Komeri Co. Ltd.

     2,700       73,407  

K’s Holdings Corp.

     16,200       196,995  

Nafco Co. Ltd.

     900       19,411  

Nextage Co. Ltd.

     3,600       47,919  

Nishimatsuya Chain Co. Ltd.

     3,600       54,272  

Nojima Corp.

     2,700       70,688  

PAL GROUP Holdings Co. Ltd.

     1,800       19,679  

Sanrio Co. Ltd.(b)

     4,500       67,969  

Shimachu Co. Ltd.

     3,600       189,192  

T-Gaia Corp.

     1,800       31,745  

United Arrows Ltd.

     1,800       25,254  

Valuence Holdings Inc.

     900       46,608  

VT Holdings Co. Ltd.

     6,300       22,656  

World Co. Ltd.

     1,800       22,130  

Xebio Holdings Co. Ltd.

     1,800       13,119  

Yellow Hat Ltd.

     2,700       41,688  
   

 

 

  
             1,760,720  
Technology Hardware, Storage & Peripherals — 0.8%  

Eizo Corp.

     900       31,331  

Elecom Co. Ltd.

     1,800       82,426  

Konica Minolta Inc.

     38,700       123,959  

Maxell Holdings Ltd.(a)

     3,600       41,429  

MCJ Co. Ltd.

     5,400       49,663  

Melco Holdings Inc.

     900       26,411  

Riso Kagaku Corp.

     1,800       22,285  

Toshiba TEC Corp.

     1,800       64,733  

Wacom Co. Ltd.

     12,600       116,605  
   

 

 

  
          558,842  
Textiles, Apparel & Luxury Goods — 1.0%            

Asics Corp.

     13,500       243,395  

Descente Ltd.(a)

     2,700       44,639  

Fujibo Holdings Inc.

     900       31,115  

Goldwin Inc.

     1,800       121,179  

Gunze Ltd.

     900       31,072  

Japan Wool Textile Co. Ltd. (The)

     4,500       45,572  

Kurabo Industries Ltd.

     900       15,898  

Onward Holdings Co. Ltd.

     8,100       14,371  

Seiko Holdings Corp.

     1,800       23,200  

Seiren Co. Ltd.

     3,600       52,684  

Wacoal Holdings Corp.

     3,600       69,083  

Yondoshi Holdings Inc.

     900       16,088  
   

 

 

  
          708,296  
Thrifts & Mortgage Finance — 0.1%            

Aruhi Corp.

     2,700       49,741  
   

 

 

  
 

 

 

  9

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Trading Companies & Distributors — 1.7%  

Advan Co. Ltd.

     1,800     $ 22,458  

Chori Co. Ltd.

     900       13,292  

Daiichi Jitsugyo Co. Ltd.

     900       34,740  

Gecoss Corp.

     900       8,260  

Hanwa Co. Ltd.

     2,700       64,733  

Inaba Denki Sangyo Co. Ltd.

     4,500       103,443  

Inabata & Co. Ltd.

     3,600       47,574  

Japan Pulp & Paper Co. Ltd.

     900       29,734  

Kamei Corp.

     1,800       20,248  

Kanamoto Co. Ltd.

     2,700       56,266  

Kanematsu Corp.

     7,200       83,203  

Nagase & Co. Ltd.

     9,000       123,855  

Nichiden Corp.

     900       20,352  

Nippon Steel Trading Corp.

     944       32,138  

Nishio Rent All Co. Ltd.

     1,800       35,094  

Sojitz Corp.

     110,700       243,110  

Trusco Nakayama Corp.

     3,600       89,970  

Wakita & Co. Ltd.

     2,700       29,647  

Yamazen Corp.

     5,400       51,475  

Yuasa Trading Co. Ltd.

     1,800       56,533  
   

 

 

  
          1,166,125  
Transportation Infrastructure — 0.5%            

Kamigumi Co. Ltd.

     9,000       155,790  

Mitsubishi Logistics Corp.

     4,500       129,034  

Sumitomo Warehouse Co. Ltd. (The)

     4,500       58,259  
   

 

 

  
          343,083  
   

 

 

  

Total Common Stocks — 99.0%
(Cost: $79,231,714)

        67,248,266  
   

 

 

  
Security   Shares     Value  

Short-Term Investments

 

Money Market Funds — 0.1%            

BlackRock Cash Funds: Institutional, SL Agency Shares, 0.19%(c)(d)(e)

     70,879     $ 70,921  

BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%(c)(d)

     20,000       20,000  
   

 

 

  
      90,921  
   

 

 

  

Total Short-Term Investments — 0.1%
(Cost: $90,935)

       90,921  
   

 

 

  

Total Investments in Securities — 99.1%
(Cost: $79,322,649)

       67,339,187  

Other Assets, Less Liabilities — 0.9%

       596,154  
   

 

 

  

Net Assets — 100.0%

     $  67,935,341  
   

 

 

  

 

(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 affiliate(s) of the Fund during the period ended November 30, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer   Value at
08/31/20		     Purchases
at Cost		     Proceeds
from Sales		     Net Realized
Gain (Loss)		     Change in
Unrealized
Appreciation
(Depreciation)		     Value at
11/30/20		     Shares
Held at
11/30/20		     Income     Capital
Gain
Distributions
from
Underlying
Funds		  

BlackRock Cash Funds: Institutional, SL Agency Shares

   $ 44,412     $ 26,538 (a)    $ —     $ (15 )    $ (14 )    $ 70,921       70,879     $ 284 (b)    $ —  

BlackRock Cash Funds: Treasury, SL Agency Shares

     30,000       —       (10,000 )(a)                  —                   —       20,000       20,000       5                   —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  
        $ (15 )    $ (14 )    $ 90,921       $ 289     $ —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 
  (b) 

All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

 

Futures Contracts

 

Description   Number of
Contracts		     Expiration
Date		     Notional
Amount
(000)		     Value/
Unrealized
Appreciation
(Depreciation)		  

Long Contracts

        

TOPIX Index

     38       12/10/20     $         640     $         31,530  
       

 

 

  

 

 

10  

Schedule of Investments (unaudited) (continued)

November 30, 2020

   

iShares® MSCI Japan Small-Cap ETF

 

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 iShares.com and on the U.S. Securities and Exchange Commission website at sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of November 30, 2020. 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

   $ 67,248,266     $ —     $ —     $ 67,248,266  

Money Market Funds

     90,921       —       —       90,921  
 

 

 

    

 

 

    

 

 

    

 

 

  
  $ 67,339,187     $ —     $ —     $ 67,339,187  
 

 

 

    

 

 

    

 

 

    

 

 

  

Derivative financial instruments(a)

        

Assets

                                                      

Futures Contracts

   $ 31,530     $ —     $ —     $ 31,530  
 

 

 

    

 

 

    

 

 

    

 

 

  

 

  (a) 

Shown at the unrealized appreciation (depreciation) on the contracts.

 
   

 

 

  11