| Schedule of Investments (unaudited) | iShares® MSCI Global Gold Miners ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Australia — 6.8% | ||||||||
| De Grey Mining Ltd.(a)(b) | 2,856,086 | $ | 3,407,798 | |||||
| Newcrest Mining Ltd. | 1,218,917 | 26,548,193 | ||||||
| Resolute Mining Ltd.(a) | 3,743,746 | 1,756,247 | ||||||
| St. Barbara Ltd. | 2,289,399 | 3,353,541 | ||||||
| West African Resources Ltd.(a) | 2,634,395 | 2,235,352 | ||||||
| Westgold Resources Ltd.(a) | 1,654,066 | 2,899,659 | ||||||
| 40,200,790 | ||||||||
| Canada — 52.8% | ||||||||
| Agnico Eagle Mines Ltd. | 366,889 | 25,969,685 | ||||||
| Alamos Gold Inc., Class A | 1,021,153 | 9,264,382 | ||||||
| Argonaut Gold Inc.(a) | 910,658 | 2,374,548 | ||||||
| B2Gold Corp. | 2,514,743 | 12,864,626 | ||||||
| Barrick Gold Corp. | 3,813,068 | 90,398,798 | ||||||
| Calibre Mining Corp.(a) | 853,686 | 1,505,195 | ||||||
| Centerra Gold Inc. | 629,107 | 5,093,056 | ||||||
| Eldorado Gold Corp.(a) | 495,062 | 5,864,275 | ||||||
| Endeavour Mining Corp. | 477,788 | 11,532,882 | ||||||
| Equinox Gold Corp.(a) | 681,567 | 6,414,815 | ||||||
| IAMGOLD Corp.(a) | 1,449,132 | 5,218,099 | ||||||
| Kinross Gold Corp. | 2,906,529 | 23,410,063 | ||||||
| Kirkland Lake Gold Ltd. | 607,734 | 26,109,345 | ||||||
| Lundin Gold Inc.(a)(b) | 215,397 | 2,150,315 | ||||||
| New Gold Inc.(a) | 2,249,854 | 4,767,705 | ||||||
| Pretium Resources Inc.(a) | 469,730 | 5,334,792 | ||||||
| SSR Mining Inc. | 555,320 | 10,181,978 | ||||||
| Torex Gold Resources Inc.(a) | 296,365 | 4,329,988 | ||||||
| Wesdome Gold Mines Ltd.(a) | 392,695 | 3,617,976 | ||||||
| Wheaton Precious Metals Corp. | 925,470 | 43,873,736 | ||||||
| Yamana Gold Inc. | 2,338,295 | 12,136,178 | ||||||
| 312,412,437 | ||||||||
| Indonesia — 0.9% | ||||||||
| Aneka Tambang Tbk | 29,415,300 | 5,046,747 | ||||||
| Peru — 1.5% | ||||||||
| Cia. de Minas Buenaventura SAA, ADR(a) | 557,970 | 6,427,815 | ||||||
| Hochschild Mining PLC | 892,079 | 2,484,664 | ||||||
| 8,912,479 | ||||||||
| Russia — 3.3% | ||||||||
| Polymetal International PLC | 813,185 | 19,283,634 | ||||||
| South Africa — 10.0% | ||||||||
| AngloGold Ashanti Ltd. | 951,582 | 23,498,077 | ||||||
| Security | Shares | Value | ||||||
| South Africa (continued) | ||||||||
| DRDGOLD Ltd. | 1,475,895 | $ | 1,878,014 | |||||
| Gold Fields Ltd. | 2,054,128 | 25,903,092 | ||||||
| Harmony Gold Mining Co. Ltd. | 1,489,502 | 7,968,847 | ||||||
| 59,248,030 | ||||||||
| Turkey — 0.5% | ||||||||
| Koza Altin Isletmeleri AS(a)(b) | 230,493 | 3,218,278 | ||||||
| United Kingdom — 0.8% | ||||||||
| Centamin PLC | 3,216,643 | 5,014,611 | ||||||
| United States — 23.0% | ||||||||
| Coeur Mining Inc.(a)(b) | 652,998 | 6,791,179 | ||||||
| McEwen Mining Inc.(a)(b) | 1,517,085 | 2,230,115 | ||||||
| Newmont Corp. | 1,731,374 | 127,221,362 | ||||||
| 136,242,656 | ||||||||
| Total Common Stocks — 99.6% | ||||||||
| (Cost: $476,617,936) | 589,579,662 | |||||||
| Short-Term Investments | ||||||||
| Money Market Funds — 0.6% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(c)(d)(e) | 3,334,608 | 3,336,609 | ||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(c)(d) | 160,000 | 160,000 | ||||||
| 3,496,609 | ||||||||
| Total Short-Term Investments — 0.6% | ||||||||
| (Cost: $3,495,011) | 3,496,609 | |||||||
| Total Investments in Securities — 100.2% | ||||||||
| (Cost: $480,112,947) | 593,076,271 | |||||||
| Other Assets, Less Liabilities — (0.2)% | (1,193,858 | ) | ||||||
| Net Assets—100.0% | $ | 591,882,413 | ||||||
| (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. |
1
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Global Gold Miners 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 | $ | 6,578,219 | $ | — | $ | (3,238,527 | )(a) | $ | (2,282 | ) | $ | (801 | ) | $ | 3,336,609 | 3,334,608 | $ | 56,664 | (b) | $ | — | ||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 240,000 | — | (80,000 | )(a) | — | — | 160,000 | 160,000 | 131 | — | |||||||||||||||||||||||||
| $ | (2,282 | ) | $ | (801 | ) | $ | 3,496,609 | $ | 56,795 | $ | — | ||||||||||||||||||||||||
| (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 S&P/TSX 60 Index | 10 | 06/17/21 | $ | 1,951 | $ | 13,929 | ||||||||
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 | $ | 481,799,263 | $ | 107,780,399 | $ | — | $ | 589,579,662 | ||||||||
| Money Market Funds | 3,496,609 | — | — | 3,496,609 | ||||||||||||
| $ | 485,295,872 | $ | 107,780,399 | $ | — | $ | 593,076,271 | |||||||||
| Derivative financial instruments(a) | ||||||||||||||||
| Assets | ||||||||||||||||
| Futures Contracts | $ | 13,929 | $ | — | $ | — | $ | 13,929 | ||||||||
| (a) | Shown at the unrealized appreciation (depreciation) on the contracts. |
| Portfolio Abbreviations - Equity | |
| ADR | American Depositary Receipt |
2