| Schedule of Investments (unaudited) | iShares® MSCI Pacific ex Japan ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Australia — 59.9% | ||||||||
| Afterpay Ltd.(a) | 292,015 | $ | 20,831,454 | |||||
| AGL Energy Ltd. | 795,840 | 4,982,977 | ||||||
| Ampol Ltd. | 316,532 | 6,972,467 | ||||||
| APA Group | 1,550,881 | 11,048,492 | ||||||
| Aristocrat Leisure Ltd. | 764,328 | 24,219,381 | ||||||
| ASX Ltd. | 267,372 | 15,728,235 | ||||||
| Aurizon Holdings Ltd. | 2,398,156 | 6,697,507 | ||||||
| AusNet Services Ltd. | 2,493,721 | 3,376,761 | ||||||
| Australia & New Zealand Banking Group Ltd. | 3,813,424 | 84,618,011 | ||||||
| BHP Group Ltd. | 3,946,389 | 145,235,545 | ||||||
| BlueScope Steel Ltd. | 680,469 | 11,160,363 | ||||||
| Brambles Ltd. | 1,931,027 | 16,123,844 | ||||||
| Cochlear Ltd. | 89,563 | 15,684,775 | ||||||
| Coles Group Ltd. | 1,779,865 | 22,743,576 | ||||||
| Commonwealth Bank of Australia | 2,372,192 | 182,759,077 | ||||||
| Computershare Ltd. | 724,826 | 8,787,837 | ||||||
| Crown Resorts Ltd.(a) | 483,016 | 4,799,412 | ||||||
| CSL Ltd. | 611,459 | 137,080,556 | ||||||
| Dexus | 1,396,429 | 11,256,826 | ||||||
| Domino’s Pizza Enterprises Ltd. | 78,706 | 6,697,928 | ||||||
| Evolution Mining Ltd. | 2,261,857 | 9,403,150 | ||||||
| Fortescue Metals Group Ltd. | 2,268,430 | 39,283,895 | ||||||
| Goodman Group | 2,226,336 | 33,417,134 | ||||||
| GPT Group (The) | 2,516,938 | 8,949,192 | ||||||
| Insurance Australia Group Ltd. | 3,263,669 | 12,656,958 | ||||||
| James Hardie Industries PLC | 599,660 | 19,892,188 | ||||||
| Lendlease Corp. Ltd. | 915,781 | 8,694,973 | ||||||
| Macquarie Group Ltd. | 463,690 | 54,373,700 | ||||||
| Magellan Financial Group Ltd. | 190,548 | 7,039,139 | ||||||
| Medibank Pvt Ltd. | 3,653,050 | 8,828,796 | ||||||
| Mirvac Group | 5,170,214 | 11,147,253 | ||||||
| National Australia Bank Ltd. | 4,415,260 | 91,897,133 | ||||||
| Newcrest Mining Ltd. | 1,091,991 | 23,783,726 | ||||||
| Northern Star Resources Ltd. | 1,485,337 | 13,351,547 | ||||||
| Oil Search Ltd. | 2,616,877 | 7,351,918 | ||||||
| Orica Ltd. | 537,904 | 5,628,821 | ||||||
| Origin Energy Ltd. | 2,278,033 | 6,980,371 | ||||||
| Qantas Airways Ltd.(a) | 1,241,509 | 4,517,450 | ||||||
| QBE Insurance Group Ltd. | 1,961,488 | 16,589,375 | ||||||
| Ramsay Health Care Ltd. | 244,617 | 11,988,060 | ||||||
| REA Group Ltd. | 72,494 | 9,153,001 | ||||||
| Reece Ltd. | 384,905 | 6,084,902 | ||||||
| Rio Tinto Ltd. | 497,554 | 47,467,679 | ||||||
| Santos Ltd. | 2,485,260 | 12,989,259 | ||||||
| Scentre Group | 6,854,181 | 14,407,748 | ||||||
| Seek Ltd. | 456,176 | 10,763,445 | ||||||
| Sonic Healthcare Ltd. | 611,626 | 16,417,056 | ||||||
| South32 Ltd. | 6,493,195 | 14,917,998 | ||||||
| Stockland | 3,144,113 | 11,349,015 | ||||||
| Suncorp Group Ltd. | 1,731,271 | 14,888,431 | ||||||
| Sydney Airport(a) | 1,714,776 | 7,762,958 | ||||||
| Tabcorp Holdings Ltd. | 2,916,487 | 11,508,125 | ||||||
| Telstra Corp. Ltd. | 5,571,844 | 15,131,249 | ||||||
| Transurban Group | 3,647,963 | 39,078,471 | ||||||
| Treasury Wine Estates Ltd. | 958,147 | 8,610,288 | ||||||
| Vicinity Centres | 4,990,662 | 6,016,514 | ||||||
| Washington H Soul Pattinson & Co. Ltd. | 144,014 | 3,284,727 | ||||||
| Wesfarmers Ltd. | 1,521,293 | 65,027,199 | ||||||
| Security | Shares | Value | ||||||
| Australia (continued) | ||||||||
| Westpac Banking Corp. | 4,905,907 | $ | 100,303,979 | |||||
| WiseTech Global Ltd. | 205,013 | 4,450,198 | ||||||
| Woodside Petroleum Ltd. | 1,282,466 | 21,587,408 | ||||||
| Woolworths Group Ltd. | 1,696,801 | 54,515,882 | ||||||
| 1,632,295,335 | ||||||||
| China — 0.5% | ||||||||
| Chow Tai Fook Jewellery Group Ltd. | 2,771,600 | 5,318,049 | ||||||
| Futu Holdings Ltd., ADR(a) | 67,387 | 9,587,148 | ||||||
| 14,905,197 | ||||||||
| Hong Kong — 27.2% | ||||||||
| AIA Group Ltd. | 16,225,014 | 208,150,857 | ||||||
| Bank of East Asia Ltd. (The) | 1,817,720 | 3,660,756 | ||||||
| BOC Hong Kong Holdings Ltd. | 4,992,500 | 18,061,140 | ||||||
| Budweiser Brewing Co. APAC Ltd.(b)(c) | 2,349,200 | 7,978,128 | ||||||
| CK Asset Holdings Ltd. | 3,224,732 | 21,372,978 | ||||||
| CK Hutchison Holdings Ltd. | 3,630,732 | 28,453,790 | ||||||
| CK Infrastructure Holdings Ltd. | 907,208 | 5,652,050 | ||||||
| CLP Holdings Ltd. | 2,216,500 | 22,529,764 | ||||||
| ESR Cayman Ltd.(a)(b) | 2,818,200 | 8,910,781 | ||||||
| Galaxy Entertainment Group Ltd.(a) | 2,953,000 | 23,961,845 | ||||||
| Hang Lung Properties Ltd. | 2,736,736 | 6,910,576 | ||||||
| Hang Seng Bank Ltd. | 1,048,500 | 21,809,552 | ||||||
| Henderson Land Development Co. Ltd. | 1,964,442 | 9,396,006 | ||||||
| HK Electric Investments & HK Electric Investments Ltd. | 3,661,500 | 3,712,742 | ||||||
| HKT Trust & HKT Ltd. | 5,144,338 | 6,974,235 | ||||||
| Hong Kong & China Gas Co. Ltd. | 14,397,384 | 25,047,897 | ||||||
| Hong Kong Exchanges & Clearing Ltd. | 1,456,500 | 91,213,954 | ||||||
| Hongkong Land Holdings Ltd.(c) | 1,565,300 | 7,666,371 | ||||||
| Jardine Matheson Holdings Ltd.(c) | 290,800 | 18,847,576 | ||||||
| Link REIT | 2,853,586 | 27,178,384 | ||||||
| Melco Resorts & Entertainment Ltd., ADR(a) | 300,180 | 5,160,094 | ||||||
| MTR Corp. Ltd.(c) | 2,166,786 | 12,064,703 | ||||||
| New World Development Co. Ltd. | 2,054,480 | 11,087,761 | ||||||
| Power Assets Holdings Ltd. | 1,887,000 | 11,535,480 | ||||||
| Sands China Ltd.(a) | 3,272,400 | 14,533,875 | ||||||
| Sino Land Co. Ltd. | 4,446,800 | 6,983,411 | ||||||
| SJM Holdings Ltd. | 2,790,000 | 3,156,017 | ||||||
| Sun Hung Kai Properties Ltd. | 1,758,500 | 27,008,932 | ||||||
| Swire Pacific Ltd., Class A | 701,000 | 5,266,923 | ||||||
| Swire Properties Ltd. | 1,599,400 | 4,708,260 | ||||||
| Techtronic Industries Co. Ltd. | 1,871,207 | 34,501,565 | ||||||
| WH Group Ltd.(b) | 13,063,500 | 11,164,794 | ||||||
| Wharf Real Estate Investment Co. Ltd. | 2,252,600 | 13,198,919 | ||||||
| Wynn Macau Ltd.(a) | 2,103,600 | 3,556,255 | ||||||
| Xinyi Glass Holdings Ltd. | 2,504,000 | 10,002,933 | ||||||
| 741,419,304 | ||||||||
| Malta — 0.0% | ||||||||
| BGP Holdings PLC, NVS(a)(d) | 27,004,595 | 329 | ||||||
| New Zealand — 2.6% | ||||||||
| a2 Milk Co. Ltd. (The)(a) | 1,006,039 | 4,271,153 | ||||||
| Auckland International Airport Ltd.(a) | 1,684,243 | 8,881,425 | ||||||
| Fisher & Paykel Healthcare Corp. Ltd. | 778,582 | 16,807,799 | ||||||
| Mercury NZ Ltd. | 924,510 | 4,386,382 | ||||||
| Meridian Energy Ltd. | 1,707,978 | 6,463,903 | ||||||
| Ryman Healthcare Ltd. | 545,991 | 5,178,254 | ||||||
| Spark New Zealand Ltd. | 2,378,084 | 7,800,917 | ||||||
| Xero Ltd.(a) | 180,525 | 18,432,518 | ||||||
| 72,222,351 | ||||||||
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| Schedule of Investments (unaudited) (continued) | iShares® MSCI Pacific ex Japan ETF |
| May 31, 2021 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Singapore — 8.9% | ||||||||
| Ascendas REIT | 4,292,180 | $ | 9,500,475 | |||||
| CapitaLand Integrated Commercial Trust | 6,085,618 | 9,605,949 | ||||||
| CapitaLand Ltd. | 3,538,300 | 9,781,932 | ||||||
| City Developments Ltd.(c) | 545,200 | 3,158,782 | ||||||
| DBS Group Holdings Ltd. | 2,413,900 | 54,770,154 | ||||||
| Genting Singapore Ltd. | 8,321,700 | 5,311,617 | ||||||
| Keppel Corp. Ltd. | 1,961,800 | 7,898,653 | ||||||
| Mapletree Commercial Trust | 2,868,500 | 4,549,818 | ||||||
| Mapletree Logistics Trust | 3,872,854 | 5,820,283 | ||||||
| Oversea-Chinese Banking Corp. Ltd. | 4,499,124 | 42,024,642 | ||||||
| Singapore Airlines Ltd.(a) | 1,838,450 | 6,920,650 | ||||||
| Singapore Exchange Ltd. | 905,600 | 7,067,455 | ||||||
| Singapore Technologies Engineering Ltd. | 2,081,500 | 6,084,789 | ||||||
| Singapore Telecommunications Ltd. | 11,117,028 | 20,238,413 | ||||||
| United Overseas Bank Ltd. | 1,579,200 | 31,106,085 | ||||||
| UOL Group Ltd. | 626,400 | 3,498,522 | ||||||
| Venture Corp. Ltd. | 397,900 | 5,715,689 | ||||||
| Wilmar International Ltd. | 2,627,000 | 9,465,678 | ||||||
| 242,519,586 | ||||||||
| Taiwan — 0.2% | ||||||||
| Sea Ltd.(a) | 20,084 | 5,086,072 | ||||||
| Total Common Stocks — 99.3% | ||||||||
| (Cost: $2,378,641,193) | 2,708,448,174 | |||||||
| Rights | ||||||||
| Singapore — 0.0% | ||||||||
| Singapore Airlines Ltd. (Expires 06/16/21)(a) | 3,842,360 | 0 | (e) | |||||
| Total Rights — 0.0% | ||||||||
| (Cost: $0) | 0 | (e) | ||||||
| Security | Shares | Value | ||||||
| Short-Term Investments | ||||||||
| Money Market Funds — 0.7% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(f)(g)(h) | 17,605,035 | $ | 17,615,599 | |||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(f)(g) | 930,000 | 930,000 | ||||||
| 18,545,599 | ||||||||
| Total Short-Term Investments — 0.7% | ||||||||
| (Cost: $18,542,740) | 18,545,599 | |||||||
| Total Investments in Securities — 100.0% | ||||||||
| (Cost: $2,397,183,933) | 2,726,993,773 | |||||||
| Other Assets, Less Liabilities — (0.0)% | (623,346 | ) | ||||||
| Net Assets—100.0% | $ | 2,726,370,427 | ||||||
| (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) | Rounds to less than $1. |
| (f) | Affiliate of the Fund. |
| (g) | Annualized 7-day yield as of period-end. |
| (h) | 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 | $ | 45,230,315 | $ | — | $ | (27,601,536 | )(a) | $ | (3,367 | ) | $ | (9,813 | ) | $ | 17,615,599 | 17,605,035 | $ | 82,270 | (b) | $ | — | |||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 660,000 | 270,000 | (a) | — | — | — | 930,000 | 930,000 | 474 | — | ||||||||||||||||||||||||||
| $ | (3,367 | ) | $ | (9,813 | ) | $ | 18,545,599 | $ | 82,744 | $ | — | |||||||||||||||||||||||||
| (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. |
2
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Pacific ex Japan ETF |
| May 31, 2021 |
Futures Contracts
| Description | Number
of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) | ||||||||||
| Long Contracts | ||||||||||||||
| ASX SPI 200 Index | 89 | 06/17/21 | $ | 12,291 | $ | 199,393 | ||||||||
| MSCI Singapore Index. | 201 | 06/29/21 | 5,465 | 27,951 | ||||||||||
| $ | 227,344 | |||||||||||||
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 | $ | 19,833,314 | $ | 2,688,614,531 | $ | 329 | $ | 2,708,448,174 | ||||||||
| Rights | — | 0 | (a) | — | 0 | (a) | ||||||||||
| Money Market Funds | 18,545,599 | — | — | 18,545,599 | ||||||||||||
| $ | 38,378,913 | $ | 2,688,614,531 | $ | 329 | $ | 2,726,993,773 | |||||||||
| Derivative financial instruments(b) | ||||||||||||||||
| Assets | ||||||||||||||||
| Futures Contracts | $ | 227,344 | $ | — | $ | — | $ | 227,344 | ||||||||
| (a) | Rounds to less than $1. |
| (b) | Shown at the unrealized appreciation (depreciation) on the contracts. |
Portfolio Abbreviations - Equity
| ADR | American Depositary Receipt |
| NVS | Non-Voting Shares |
| REIT | Real Estate Investment Trust |
3