| Schedule of Investments (unaudited) | iShares® MSCI Hong Kong ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Banks — 6.1% | ||||||||
| Bank of East Asia Ltd. (The) | 3,459,810 | $ | 6,967,805 | |||||
| BOC Hong Kong Holdings Ltd. | 8,163,500 | 29,532,723 | ||||||
| Hang Seng Bank Ltd. | 1,659,000 | 34,508,390 | ||||||
| 71,008,918 | ||||||||
| Beverages — 1.2% | ||||||||
| Budweiser Brewing Co. APAC Ltd.(a) | 4,037,300 | 13,711,092 | ||||||
| Building Products — 1.5% | ||||||||
| Xinyi Glass Holdings Ltd. | 4,390,000 | 17,537,091 | ||||||
| Capital Markets — 14.5% | ||||||||
| Futu Holdings Ltd., ADR(b) | 90,632 | 12,894,215 | ||||||
| Hong Kong Exchanges & Clearing Ltd. | 2,512,226 | 157,329,260 | ||||||
| 170,223,475 | ||||||||
| Diversified Telecommunication Services — 1.1% | ||||||||
| HKT Trust & HKT Ltd. | 9,100,500 | 12,337,646 | ||||||
| Electric Utilities — 6.3% | ||||||||
| CK Infrastructure Holdings Ltd. | 1,675,000 | 10,435,517 | ||||||
| CLP Holdings Ltd. | 3,556,700 | 36,152,317 | ||||||
| HK Electric Investments & HK Electric Investments Ltd. | 7,285,000 | 7,386,952 | ||||||
| Power Assets Holdings Ltd. | 3,178,500 | 19,430,589 | ||||||
| 73,405,375 | ||||||||
| Equity Real Estate Investment Trusts (REITs) — 3.6% | ||||||||
| Link REIT | 4,429,100 | 42,184,038 | ||||||
| Food Products — 1.6% | ||||||||
| WH Group Ltd.(a) | 21,785,500 | 18,619,101 | ||||||
| Gas Utilities — 3.4% | ||||||||
| Hong Kong & China Gas Co. Ltd. | 23,104,805 | 40,196,663 | ||||||
| Hotels, Restaurants & Leisure — 7.2% | ||||||||
| Galaxy Entertainment Group Ltd.(b) | 4,653,000 | 37,756,337 | ||||||
| Melco Resorts & Entertainment Ltd., ADR(b) | 537,595 | 9,241,258 | ||||||
| Sands China Ltd.(b) | 5,377,600 | 23,883,806 | ||||||
| SJM Holdings Ltd. | 5,473,000 | 6,190,996 | ||||||
| Wynn Macau Ltd.(b) | 4,146,800 | 7,010,400 | ||||||
| 84,082,797 | ||||||||
| Industrial Conglomerates — 6.5% | ||||||||
| CK Hutchison Holdings Ltd. | 5,792,267 | 45,393,586 | ||||||
| Jardine Matheson Holdings Ltd. | 479,500 | 31,077,760 | ||||||
| 76,471,346 | ||||||||
| Insurance — 21.2% | ||||||||
| AIA Group Ltd. | 19,340,200 | 248,115,608 | ||||||
| Machinery — 4.6% | ||||||||
| Techtronic Industries Co. Ltd. | 2,939,147 | 54,192,386 | ||||||
| Security | Shares | Value | ||||||
| Real Estate Management & Development — 18.2% | ||||||||
| CK Asset Holdings Ltd. | 5,632,767 | $ | 37,333,027 | |||||
| ESR Cayman Ltd.(a)(b) | 4,240,400 | 13,407,592 | ||||||
| Hang Lung Properties Ltd. | 4,775,000 | 12,057,428 | ||||||
| Henderson Land Development Co. Ltd. | 3,397,762 | 16,251,635 | ||||||
| Hongkong Land Holdings Ltd. | 2,778,000 | 13,605,813 | ||||||
| New World Development Co. Ltd. | 3,510,266 | 18,944,449 | ||||||
| Sino Land Co. Ltd. | 7,720,000 | 12,123,759 | ||||||
| Sun Hung Kai Properties Ltd. | 3,079,500 | 47,298,269 | ||||||
| Swire Pacific Ltd., Class A | 1,272,500 | 9,560,856 | ||||||
| Swire Properties Ltd. | 2,981,600 | 8,777,133 | ||||||
| Wharf Real Estate Investment Co. Ltd. | 3,996,150 | 23,415,103 | ||||||
| 212,775,064 | ||||||||
| Road & Rail — 1.7% | ||||||||
| MTR Corp. Ltd.(c) | 3,471,583 | 19,329,836 | ||||||
| Specialty Retail — 0.5% | ||||||||
| Chow Tai Fook Jewellery Group Ltd. | 3,269,800 | 6,273,978 | ||||||
| Total Common Stocks — 99.2% | ||||||||
| (Cost: $1,131,897,745) | 1,160,464,414 | |||||||
| Short-Term Investments | ||||||||
| Money Market Funds — 1.9% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(d)(e)(f) | 19,775,049 | 19,786,914 | ||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e) | 3,130,000 | 3,130,000 | ||||||
| 22,916,914 | ||||||||
| Total Short-Term Investments — 1.9% | ||||||||
| (Cost: $22,916,914). | 22,916,914 | |||||||
| Total Investments in Securities — 101.1% | ||||||||
| (Cost: $1,154,814,659). | 1,183,381,328 | |||||||
| Other Assets, Less Liabilities — (1.1)%. | (13,269,536 | ) | ||||||
| NetAssets — 100.0% | $ | 1,170,111,792 | ||||||
| (a) | 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. |
| (b) | Non-income producing security. |
| (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. |
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| Schedule of Investments (unaudited) (continued) | iShares® MSCI Hong Kong 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 | $ | 21,124,049 | $ | — | $ | (1,331,697 | )(a) | $ | (7,548 | ) | $ | 2,110 | $ | 19,786,914 | 19,775,049 | $ | 33,760 | (b) | $ | — | ||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 495,000 | 2,635,000 | (a) | — | — | — | 3,130,000 | 3,130,000 | 380 | — | ||||||||||||||||||||||||||
| $ | (7,548 | ) | $ | 2,110 | $ | 22,916,914 | $ | 34,140 | $ | — | ||||||||||||||||||||||||||
| (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 | ||||||||||||||
| MSCI EAFE Index | 81 | 06/18/21 | $ | 9,465 | $ | 231,678 | ||||||||
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 | $ | 22,135,473 | $ | 1,138,328,941 | $ | — | $ | 1,160,464,414 | ||||||||
| Money Market Funds | 22,916,914 | — | — | 22,916,914 | ||||||||||||
| $ | 45,052,387 | $ | 1,138,328,941 | $ | — | $ | 1,183,381,328 | |||||||||
| Derivative financial instruments(a) | ||||||||||||||||
| Assets | ||||||||||||||||
| Futures Contracts | $ | 231,678 | $ | — | $ | — | $ | 231,678 | ||||||||
| (a) | Shown at the unrealized appreciation (depreciation) on the contracts. |
Portfolio Abbreviations - Equity
| ADR | American Depositary Receipt |
| REIT | Real Estate Investment Trust |
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