| Schedule of Investments (unaudited) | iShares® MSCI Netherlands ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Air Freight & Logistics — 1.1% | ||||||||
| InPost SA(a) | 53,874 | $ | 1,076,505 | |||||
| PostNL NV | 366,274 | 2,149,036 | ||||||
| 3,225,541 | ||||||||
| Banks — 7.9% | ||||||||
| ABN AMRO Bank NV, CVA(a)(b) | 212,127 | 2,828,961 | ||||||
| ING Groep NV | 1,376,351 | 19,131,200 | ||||||
| Van Lanschot Kempen NV(a) | 38,200 | 1,109,273 | ||||||
| 23,069,434 | ||||||||
| Beverages — 6.1% | ||||||||
| Coca-Cola Europacific Partners PLC. | 88,202 | 5,337,985 | ||||||
| Heineken Holding NV | 28,127 | 2,830,161 | ||||||
| Heineken NV | 81,609 | 9,717,131 | ||||||
| 17,885,277 | ||||||||
| Biotechnology — 0.3% | ||||||||
| Pharming Group NV(a)(c) | 704,895 | 863,556 | ||||||
| Capital Markets — 0.4% | ||||||||
| Flow Traders(b) | 28,617 | 1,248,614 | ||||||
| Chemicals — 8.9% | ||||||||
| Akzo Nobel NV | 81,007 | 10,411,729 | ||||||
| Corbion NV | 32,116 | 1,863,541 | ||||||
| Koninklijke DSM NV | 65,366 | 12,021,017 | ||||||
| OCI NV(a) | 66,914 | 1,702,293 | ||||||
| 25,998,580 | ||||||||
| Construction & Engineering — 1.6% | ||||||||
| Arcadis NV | 46,049 | 2,004,363 | ||||||
| Boskalis Westminster | 49,732 | 1,701,424 | ||||||
| Koninklijke BAM Groep NV(a) | 369,597 | 1,085,357 | ||||||
| 4,791,144 | ||||||||
| Distributors — 0.2% | ||||||||
| B&S Group Sarl(b) | 42,008 | 470,224 | ||||||
| Diversified Financial Services — 0.0% | ||||||||
| SNS REAAL NV(a)(c)(d) | 68,952 | 1 | ||||||
| Diversified Telecommunication Services — 1.7% | ||||||||
| Koninklijke KPN NV | 1,477,167 | 4,901,863 | ||||||
| Electric Utilities — 0.0% | ||||||||
| Fastned BV(a) | 1,218 | 94,786 | ||||||
| Electrical Equipment — 2.3% | ||||||||
| Alfen Beheer BV(a)(b) | 14,292 | 1,238,303 | ||||||
| SIF Holding NV | 18,172 | 360,334 | ||||||
| Signify NV(b) | 60,661 | 3,757,718 | ||||||
| TKH Group NV | 27,560 | 1,469,197 | ||||||
| 6,825,552 | ||||||||
| Energy Equipment & Services — 1.0% | ||||||||
| Fugro NV(a) | 118,443 | 1,279,697 | ||||||
| SBM Offshore NV | 89,959 | 1,550,821 | ||||||
| 2,830,518 | ||||||||
| Equity Real Estate Investment Trusts (REITs) — 1.3% | ||||||||
| Eurocommercial Properties NV(a) | 49,987 | 1,482,179 | ||||||
| NSI NV | 23,914 | 997,338 | ||||||
| Vastned Retail NV | 16,386 | 489,051 | ||||||
| Wereldhave NV | 48,763 | 869,109 | ||||||
| 3,837,677 | ||||||||
| Security | Shares | Value | ||||||
| Food & Staples Retailing — 4.5% | ||||||||
| Koninklijke Ahold Delhaize NV | 417,033 | $ | 12,033,832 | |||||
| Sligro Food Group NV(a) | 35,219 | 1,127,881 | ||||||
| 13,161,713 | ||||||||
| Food Products — 0.7% | ||||||||
| ForFarmers NV | 47,533 | 307,305 | ||||||
| JDE Peet’s NV(a) | 43,867 | 1,724,865 | ||||||
| 2,032,170 | ||||||||
| Health Care Equipment & Supplies — 6.5% | ||||||||
| Koninklijke Philips NV | 337,478 | 18,937,981 | ||||||
| Hotels, Restaurants & Leisure — 0.6% | ||||||||
| Basic-Fit NV(a)(b) | 37,070 | 1,810,594 | ||||||
| Household Durables — 0.3% | ||||||||
| TomTom NV(a) | 93,198 | 840,938 | ||||||
| Insurance — 4.3% | ||||||||
| Aegon NV | 782,668 | 3,687,462 | ||||||
| ASR Nederland NV | 66,298 | 2,849,706 | ||||||
| NN Group NV | 121,310 | 6,149,270 | ||||||
| 12,686,438 | ||||||||
| Internet & Direct Marketing Retail — 8.0% | ||||||||
| Just Eat Takeaway.com NV(a)(b) | 51,394 | 4,651,124 | ||||||
| Prosus NV | 179,595 | 18,619,805 | ||||||
| 23,270,929 | ||||||||
| IT Services — 4.9% | ||||||||
| Adyen NV(a)(b) | 6,151 | 14,147,944 | ||||||
| Leisure Products — 0.5% | ||||||||
| Accell Group NV(a) | 24,567 | 1,379,948 | ||||||
| Machinery — 0.9% | ||||||||
| Aalberts NV | 48,900 | 2,757,294 | ||||||
| Metals & Mining — 0.4% | ||||||||
| AMG Advanced Metallurgical Group NV | 30,033 | 1,094,358 | ||||||
| Oil, Gas & Consumable Fuels — 0.6% | ||||||||
| Koninklijke Vopak NV | 37,061 | 1,748,063 | ||||||
| Professional Services — 5.4% | ||||||||
| Brunel International NV | 29,007 | 398,122 | ||||||
| Intertrust NV(a)(b) | 72,148 | 1,325,146 | ||||||
| Randstad NV | 52,732 | 4,096,062 | ||||||
| Wolters Kluwer NV | 103,564 | 9,908,076 | ||||||
| 15,727,406 | ||||||||
| Semiconductors & Semiconductor Equipment — 26.3% | ||||||||
| ASM International NV | 19,895 | 6,244,185 | ||||||
| ASML Holding NV | 100,660 | 67,376,919 | ||||||
| BE Semiconductor Industries NV | 36,513 | 2,973,174 | ||||||
| 76,594,278 | ||||||||
| Software — 0.2% | ||||||||
| CM.Com(a) | 14,354 | 497,374 | ||||||
| Trading Companies & Distributors — 2.7% | ||||||||
| AerCap Holdings NV(a) | 61,582 | 3,633,338 | ||||||
| IMCD NV | 25,578 | 4,129,865 | ||||||
| 7,763,203 | ||||||||
| Total Common Stocks — 99.6% | ||||||||
| (Cost: $242,614,245) | 290,493,398 | |||||||
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| Schedule of Investments (unaudited) (continued) | iShares® MSCI Netherlands ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Short-Term Investments | ||||||||
| Money Market Funds — 0.4% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(e)(f)(g) | 903,341 | $ | 903,883 | |||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(e)(f) | 250,000 | 250,000 | ||||||
| 1,153,883 | ||||||||
| Total Short-Term Investments — 0.4% | ||||||||
| (Cost: $1,153,401) | 1,153,883 | |||||||
| Total Investments in Securities — 100.0% | ||||||||
| (Cost: $243,767,646) | 291,647,281 | |||||||
| Other Assets, Less Liabilities — (0.0)% | (55,959 | ) | ||||||
| Net Assets—100.0% | $ | 291,591,322 | ||||||
| (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) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| (e) | Affiliate of the Fund. |
| (f) | Annualized 7-day yield as of period-end. |
| (g) | 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 | $ | 3,761,800 | $ | — | $ | (2,855,475 | )(a) | $ | (2,351 | ) | $ | (91 | ) | $ | 903,883 | 903,341 | $ | 48,267 | (b) | $ | — | |||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 90,000 | 160,000 | (a) | — | — | — | 250,000 | 250,000 | 52 | — | ||||||||||||||||||||||||||
| $ | (2,351 | ) | $ | (91 | ) | $ | 1,153,883 | $ | 48,319 | $ | — | |||||||||||||||||||||||||
| (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 | ||||||||||||||
| Euro STOXX 50 Index | 22 | 06/18/21 | $ | 1,083 | $ | 9,417 | ||||||||
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 Netherlands 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 | $ | 13,573,477 | $ | 276,919,920 | $ | 1 | $ | 290,493,398 | ||||||||
| Money Market Funds | 1,153,883 | — | — | 1,153,883 | ||||||||||||
| $ | 14,727,360 | $ | 276,919,920 | $ | 1 | $ | 291,647,281 | |||||||||
| Derivative financial instruments(a) | ||||||||||||||||
| Assets | ||||||||||||||||
| Futures Contracts | $ | 9,417 | $ | — | $ | — | $ | 9,417 | ||||||||
| (a) | Shown at the unrealized appreciation (depreciation) on the contracts. |
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