| Schedule of Investments (unaudited) | iShares® MSCI France ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Aerospace & Defense — 7.1% | ||||||||
| Airbus SE(a) | 234,871 | $ | 30,475,900 | |||||
| Dassault Aviation SA | 1,001 | 1,252,072 | ||||||
| Safran SA | 136,498 | 20,347,162 | ||||||
| Thales SA | 42,617 | 4,351,097 | ||||||
| 56,426,231 | ||||||||
| Auto Components — 2.0% | ||||||||
| Cie. Generale des Etablissements Michelin SCA | 67,518 | 10,335,791 | ||||||
| Faurecia SE(a) | 47,084 | 2,533,303 | ||||||
| Valeo SA | 91,054 | 2,963,085 | ||||||
| 15,832,179 | ||||||||
| Automobiles — 0.4% | ||||||||
| Renault SA(a) | 77,027 | 3,169,200 | ||||||
| Banks — 6.0% | ||||||||
| BNP Paribas SA | 449,212 | 30,581,089 | ||||||
| Credit Agricole SA | 467,328 | 6,947,614 | ||||||
| Societe Generale SA | 323,765 | 10,348,873 | ||||||
| 47,877,576 | ||||||||
| Beverages — 2.5% | ||||||||
| Pernod Ricard SA | 83,675 | 18,366,257 | ||||||
| Remy Cointreau SA | 9,151 | 1,906,342 | ||||||
| 20,272,599 | ||||||||
| Building Products — 1.7% | ||||||||
| Cie. de Saint-Gobain(a) | 201,987 | 13,480,058 | ||||||
| Capital Markets — 0.5% | ||||||||
| Amundi SA(b) | 24,287 | 2,151,635 | ||||||
| Natixis SA(a) | 374,986 | 1,852,223 | ||||||
| 4,003,858 | ||||||||
| Chemicals — 4.4% | ||||||||
| Air Liquide SA | 189,172 | 32,061,090 | ||||||
| Arkema SA | 24,642 | 3,234,865 | ||||||
| 35,295,955 | ||||||||
| Construction & Engineering — 3.9% | ||||||||
| Bouygues SA | 90,744 | 3,689,053 | ||||||
| Eiffage SA | 33,302 | 3,664,807 | ||||||
| Vinci SA | 212,609 | 24,043,657 | ||||||
| 31,397,517 | ||||||||
| Diversified Financial Services — 0.4% | ||||||||
| Eurazeo SE | 15,920 | 1,417,188 | ||||||
| Wendel SE | 10,681 | 1,486,043 | ||||||
| 2,903,231 | ||||||||
| Diversified Telecommunication Services — 1.4% | ||||||||
| Iliad SA | 5,880 | 973,302 | ||||||
| Orange SA | 795,041 | 10,081,876 | ||||||
| 11,055,178 | ||||||||
| Electric Utilities — 0.3% | ||||||||
| Electricite de France SA | 189,023 | 2,632,081 | ||||||
| Electrical Equipment — 5.6% | ||||||||
| Legrand SA | 106,588 | 11,128,716 | ||||||
| Schneider Electric SE | 215,143 | 33,922,260 | ||||||
| 45,050,976 | ||||||||
| Entertainment — 1.9% | ||||||||
| Bollore SA | 349,100 | 1,816,368 | ||||||
| Ubisoft Entertainment SA(a) | 36,752 | 2,675,873 | ||||||
| Security | Shares | Value | ||||||
| Entertainment (continued) | ||||||||
| Vivendi SE | 286,451 | $ | 10,369,601 | |||||
| 14,861,842 | ||||||||
| Equity Real Estate Investment Trusts (REITs) — 1.5% | ||||||||
| Covivio | 20,852 | 1,958,875 | ||||||
| Gecina SA | 18,398 | 2,925,099 | ||||||
| Klepierre SA | 81,999 | 2,360,463 | ||||||
| Unibail-Rodamco-Westfield(a)(c) | 50,002 | 4,342,005 | ||||||
| 11,586,442 | ||||||||
| Food & Staples Retailing — 0.6% | ||||||||
| Carrefour SA | 244,626 | 4,983,429 | ||||||
| Food Products — 2.3% | ||||||||
| Danone SA | 260,504 | 18,519,121 | ||||||
| Health Care Equipment & Supplies — 0.2% | ||||||||
| BioMerieux | 16,482 | 1,888,407 | ||||||
| Health Care Providers & Services — 0.3% | ||||||||
| Orpea SA(a) | 20,582 | 2,569,433 | ||||||
| Hotels, Restaurants & Leisure — 1.0% | ||||||||
| Accor SA(a) | 68,049 | 2,721,553 | ||||||
| La Francaise des Jeux SAEM(b) | 37,815 | 2,144,559 | ||||||
| Sodexo SA(a) | 35,132 | 3,388,900 | ||||||
| 8,255,012 | ||||||||
| Household Durables — 0.3% | ||||||||
| SEB SA | 10,955 | 2,032,869 | ||||||
| Insurance — 3.1% | ||||||||
| AXA SA | 772,654 | 21,297,375 | ||||||
| CNP Assurances | 68,223 | 1,233,124 | ||||||
| SCOR SE(a) | 63,537 | 2,061,387 | ||||||
| 24,591,886 | ||||||||
| IT Services — 3.6% | ||||||||
| Atos SE(c) | 39,813 | 2,657,639 | ||||||
| Capgemini SE | 63,974 | 11,891,095 | ||||||
| Edenred | 98,330 | 5,326,631 | ||||||
| Worldline SA(a)(b) | 94,697 | 9,024,892 | ||||||
| 28,900,257 | ||||||||
| Life Sciences Tools & Services — 1.3% | ||||||||
| Eurofins Scientific SE(a) | 53,260 | 5,731,391 | ||||||
| Sartorius Stedim Biotech | 11,075 | 4,781,745 | ||||||
| 10,513,136 | ||||||||
| Machinery — 0.8% | ||||||||
| Alstom SA(a) | 111,387 | 6,236,591 | ||||||
| Media — 0.8% | ||||||||
| Publicis Groupe SA | 88,832 | 6,004,701 | ||||||
| Metals & Mining — 1.2% | ||||||||
| ArcelorMittal SA(a) | 286,934 | 9,420,221 | ||||||
| Multi-Utilities — 2.6% | ||||||||
| Engie SA | 728,431 | 10,783,035 | ||||||
| Suez SA | 138,530 | 3,369,918 | ||||||
| Veolia Environnement SA | 214,758 | 6,724,334 | ||||||
| 20,877,287 | ||||||||
| Oil, Gas & Consumable Fuels — 5.8% | ||||||||
| TOTAL SE | 997,750 | 46,243,024 | ||||||
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| Schedule of Investments (unaudited) (continued) | iShares® MSCI France ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Personal Products — 5.7% | ||||||||
| L’Oreal SA | 100,614 | $ | 45,151,493 | |||||
| Pharmaceuticals — 6.2% | ||||||||
| Ipsen SA | 14,935 | 1,506,585 | ||||||
| Sanofi | 452,509 | 47,870,486 | ||||||
| 49,377,071 | ||||||||
| Professional Services — 1.6% | ||||||||
| Bureau Veritas SA(a) | 117,571 | 3,605,012 | ||||||
| Teleperformance | 23,405 | 8,970,368 | ||||||
| 12,575,380 | ||||||||
| Semiconductors & Semiconductor Equipment — 1.3% | ||||||||
| STMicroelectronics NV | 272,734 | 10,176,929 | ||||||
| Software — 1.5% | ||||||||
| Dassault Systemes SE | 52,834 | 12,103,081 | ||||||
| Textiles, Apparel & Luxury Goods — 19.2% | ||||||||
| EssilorLuxottica SA | 113,959 | 19,689,389 | ||||||
| Hermes International | 12,648 | 17,752,662 | ||||||
| Kering SA | 29,957 | 27,416,229 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE | 110,870 | 88,295,840 | ||||||
| 153,154,120 | ||||||||
| Transportation Infrastructure — 0.6% | ||||||||
| Aeroports de Paris(a) | 11,768 | 1,624,044 | ||||||
| Getlink SE | 176,724 | 2,818,324 | ||||||
| 4,442,368 | ||||||||
| Total Common Stocks — 99.6% | ||||||||
| (Cost: $756,218,277) | 793,860,739 | |||||||
| Security | Shares | Value | ||||||
| Short-Term Investments | ||||||||
| Money Market Funds — 0.2% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares,0.06%(d)(e)(f) | 1,139,856 | $ | 1,140,540 | |||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e) | 400,000 | 400,000 | ||||||
| 1,540,540 | ||||||||
| Total Short-Term Investments — 0.2% | ||||||||
| (Cost: $1,540,519) | 1,540,540 | |||||||
| Total Investments in Securities — 99.8% | ||||||||
| (Cost: $757,758,796) | 795,401,279 | |||||||
| Other Assets, Less Liabilities — 0.2% | 1,963,807 | |||||||
| Net Assets—100.0% | $ | 797,365,086 | ||||||
| (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 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 | $ | 8,568,912 | $ | — | $ | (7,423,885 | )(a) | $ | (5,278 | ) | $ | 791 | $ | 1,140,540 | 1,139,856 | $ | 103,088 | (b) | $ | — | ||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 529,000 | — | (129,000 | )(a) | — | — | 400,000 | 400,000 | 175 | — | ||||||||||||||||||||||||||
| $ | (5,278 | ) | $ | 791 | $ | 1,540,540 | $ | 103,263 | $ | — | ||||||||||||||||||||||||||
| (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 | ||||||||||||||
| CAC 40 Index | 31 | 06/18/21 | $ | 2,433 | $ | 23,520 | ||||||||
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| Schedule of Investments (unaudited) (continued) | iShares® MSCI France ETF |
| May 31, 2021 |
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 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 | $ | — | $ | 793,860,739 | $ | — | $ | 793,860,739 | ||||||||
| Money Market Funds | 1,540,540 | — | — | 1,540,540 | ||||||||||||
| $ | 1,540,540 | $ | 793,860,739 | $ | — | $ | 795,401,279 | |||||||||
| Derivative financial instruments(a) | ||||||||||||||||
| Assets | ||||||||||||||||
| Futures Contracts | $ | 23,520 | $ | — | $ | — | $ | 23,520 | ||||||||
| (a) | Shown at the unrealized appreciation (depreciation) on the contracts. |
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