| Schedule of Investments (unaudited) | iShares® MSCI Sweden ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Banks — 13.2% | ||||||||
| Nordea Bank Abp | 2,540,616 | $ | 27,190,109 | |||||
| Skandinaviska Enskilda Banken AB, Class A | 1,276,215 | 16,291,066 | ||||||
| Svenska Handelsbanken AB, Class A | 1,143,748 | 12,794,446 | ||||||
| Swedbank AB, Class A | 710,130 | 12,742,277 | ||||||
| 69,017,898 | ||||||||
| Building Products — 7.0% | ||||||||
| Assa Abloy AB, Class B | 785,952 | 24,073,655 | ||||||
| Nibe Industrier AB, Class B | 1,117,844 | 12,140,883 | ||||||
| 36,214,538 | ||||||||
| Capital Markets — 1.3% | ||||||||
| EQT AB | 187,303 | 6,758,795 | ||||||
| Commercial Services & Supplies — 0.8% | ||||||||
| Securitas AB, Class B | 246,170 | 3,931,275 | ||||||
| Communications Equipment — 5.8% | ||||||||
| Telefonaktiebolaget LM Ericsson, Class B | 2,288,758 | 30,317,634 | ||||||
| Construction & Engineering — 1.4% | ||||||||
| Skanska AB, Class B | 266,545 | 7,479,931 | ||||||
| Diversified Financial Services — 10.7% | ||||||||
| Industrivarden AB, Class A | 83,999 | 3,407,538 | ||||||
| Industrivarden AB, Class C | 125,547 | 4,919,455 | ||||||
| Investor AB, Class B | 1,428,671 | 32,936,445 | ||||||
| Kinnevik AB(a) | 194,138 | 3,693,792 | ||||||
| Kinnevik AB, Class B | 188,234 | 7,172,295 | ||||||
| L E Lundbergforetagen AB, Class B | 59,749 | 3,748,013 | ||||||
| 55,877,538 | ||||||||
| Diversified Telecommunication Services — 1.7% | ||||||||
| Telia Co. AB | 2,084,202 | 9,077,350 | ||||||
| Electronic Equipment, Instruments & Components — 4.2% | ||||||||
| Hexagon AB, Class B | 1,544,842 | 21,989,045 | ||||||
| Entertainment — 1.1% | ||||||||
| Embracer Group AB(a) | 200,745 | 5,970,096 | ||||||
| Food & Staples Retailing — 0.7% | ||||||||
| ICA Gruppen AB | 79,068 | 3,819,218 | ||||||
| Hotels, Restaurants & Leisure — 4.9% | ||||||||
| Evolution AB(b) | 133,197 | 25,465,518 | ||||||
| Household Durables — 1.9% | ||||||||
| Electrolux AB, Series B | 176,402 | 4,990,053 | ||||||
| Husqvarna AB, Class B | 328,768 | 4,805,025 | ||||||
| 9,795,078 | ||||||||
| Household Products — 3.2% | ||||||||
| Essity AB, Class B | 477,215 | 16,448,490 | ||||||
| Industrial Conglomerates — 0.8% | ||||||||
| Investment AB Latour, Class B | 116,394 | 3,971,401 | ||||||
| Machinery — 26.8% | ||||||||
| Alfa Laval AB | 246,624 | 9,283,293 | ||||||
| Security | Shares | Value | ||||||
| Machinery (continued) | ||||||||
| Atlas Copco AB, Class A | 526,569 | $ | 31,910,905 | |||||
| Atlas Copco AB, Class B | 305,990 | 15,745,442 | ||||||
| Epiroc AB, Class A | 516,765 | 11,675,825 | ||||||
| Epiroc AB, Class B | 305,342 | 6,081,073 | ||||||
| Sandvik AB | 885,264 | 23,266,569 | ||||||
| SKF AB, Class B | 299,057 | 8,048,158 | ||||||
| Volvo AB, Class A | 157,427 | 4,217,870 | ||||||
| Volvo AB, Class B | 1,121,035 | 29,268,626 | ||||||
| 139,497,761 | ||||||||
| Metals & Mining — 1.7% | ||||||||
| Boliden AB | 214,383 | 8,583,737 | ||||||
| Oil, Gas & Consumable Fuels — 1.0% | ||||||||
| Lundin Energy AB | 156,591 | 5,372,785 | ||||||
| Paper & Forest Products — 1.5% | ||||||||
| Svenska Cellulosa AB SCA, Class B | 474,808 | 7,864,529 | ||||||
| Real Estate Management & Development — 1.0% | ||||||||
| Fastighets AB Balder, Class B(a) | 82,273 | 5,220,641 | ||||||
| Software — 1.4% | ||||||||
| Sinch AB(a) | 39,661 | 7,306,467 | ||||||
| Specialty Retail — 2.8% | ||||||||
| H & M Hennes & Mauritz AB, Class B(a) | 572,693 | 14,595,059 | ||||||
| Tobacco — 2.3% | ||||||||
| Swedish Match AB | 1,271,891 | 11,776,597 | ||||||
| Wireless Telecommunication Services — 1.0% | ||||||||
| Tele2 AB, Class B | 389,372 | 5,228,640 | ||||||
| Total Common Stocks — 98.2% | ||||||||
| (Cost: $427,071,967) | 511,580,021 | |||||||
Short-Term Investments
| Money Market Funds — 0.0% | ||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(c)(d) | 210,000 | 210,000 | ||||||
| Total Short-Term Investments — 0.0% | ||||||||
| (Cost: $210,000) | 210,000 | |||||||
| Total Investments in Securities — 98.2% | ||||||||
| (Cost: $427,281,967) | 511,790,021 | |||||||
| Other Assets, Less Liabilities — 1.8% | 9,362,836 | |||||||
| Net Assets—100.0% | $ | 521,152,857 | ||||||
| (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) | Affiliate of the Fund. |
| (d) | Annualized 7-day yield as of period-end. |
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| Schedule of Investments (unaudited) (continued) | iShares® MSCI Sweden ETF |
| May 31, 2021 |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2021 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 05/31/21 | Shares Held at 05/31/21 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares(a) | $ | 3,686,386 | $ | — | $ | (3,685,184 | )(b) | $ | (2,003 | ) | $ | 801 | $ | — | $ | — | $ | 1,832 | (c) | $ | — | |||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 80,000 | 130,000 | (b) | — | — | — | 210,000 | 210,000 | 69 | — | ||||||||||||||||||||||||||
| $ | (2,003 | ) | $ | 801 | $ | 210,000 | $ | 1,901 | $ | — | ||||||||||||||||||||||||||
| (a) | As of period end, the entity is no longer held. |
| (b) | Represents net amount purchased (sold). |
| (c) | 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 | ||||||||||||||
| OMXS 30 Index | 351 | 06/18/21 | $ | 9,486 | $ | (20,282 | ) | |||||||
Forward Foreign Currency Exchange Contracts
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | |||||||||||||||
| USD | 1,184,491 | EUR | 991,191 | SCB | 06/18/21 | $ | (27,958 | ) | |||||||||||
| USD | 7,662,871 | SEK | 65,192,175 | SCB | 06/18/21 | (202,425 | ) | ||||||||||||
| (230,383 | ) | ||||||||||||||||||
| Net unrealized depreciation | . | . | $ | (230,383 | ) | ||||||||||||||
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.
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| Schedule of Investments (unaudited) (continued) | iShares® MSCI Sweden ETF |
| May 31, 2021 |
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, 2021. 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 | $ | 25,682,837 | $ | 485,897,184 | $ | — | $ | 511,580,021 | ||||||||
| Money Market Funds | 210,000 | — | — | 210,000 | ||||||||||||
| $ | 25,892,837 | $ | 485,897,184 | $ | — | $ | 511,790,021 | |||||||||
| Derivative financial instruments(a) | ||||||||||||||||
| Liabilities | ||||||||||||||||
| Forward Foreign Currency Exchange Contracts | $ | — | $ | (230,383 | ) | $ | — | $ | (230,383 | ) | ||||||
| Futures Contracts | (20,282 | ) | — | — | (20,282 | ) | ||||||||||
| $ | (20,282 | ) | $ | (230,383 | ) | $ | — | $ | (250,665 | ) | ||||||
| (a) | Shown at the unrealized appreciation (depreciation) on the contracts. |
Counterparty Abbreviations
| SCB | Standard Chartered Bank |
Currency Abbreviations
| EUR | Euro |
| SEK | Swedish Krona |
| USD | United States Dollar |
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