Schedule of Investments (unaudited)	iShares® MSCI Italy ETF
November 30, 2021	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Automobiles — 13.6%
Ferrari NV		106,409	$	27,844,556
Stellantis NV		3,029,899		51,701,412
				79,545,968
Banks — 19.5%
FinecoBank Banca Fineco SpA		986,834		17,283,382
Intesa Sanpaolo SpA		24,521,924		58,717,949
Mediobanca Banca di Credito Finanziario SpA		1,075,783		11,900,040
UniCredit SpA		2,180,810		26,330,699
				114,232,070
Beverages — 2.3%
Davide Campari-Milano NV		905,582		13,199,494
Diversified Financial Services — 2.7%
EXOR NV		181,693		15,929,207
Diversified Telecommunication Services — 2.9%
Infrastrutture Wireless Italiane SpA(a)		623,139		7,146,491
Telecom Italia SpA/Milano		18,479,291		9,601,579
				16,748,070
Electric Utilities — 18.4%
Enel SpA		11,998,624		90,917,925
Terna - Rete Elettrica Nazionale		2,253,723		16,759,511
				107,677,436
Electrical Equipment — 2.6%
Prysmian SpA		412,787		15,304,032
Energy Equipment & Services — 1.5%
Tenaris SA		887,764		8,693,793
Gas Utilities — 3.1%
Snam SpA		3,237,891		18,246,548
Health Care Equipment & Supplies — 1.7%
DiaSorin SpA		45,253		9,657,234
Health Care Providers & Services — 1.8%
Amplifon SpA		217,293		10,583,202
Insurance — 6.5%
Assicurazioni Generali SpA		1,341,550		26,874,440
Poste Italiane SpA(a)		907,777		11,416,013
				38,290,453
IT Services — 2.0%
Nexi SpA(a)(b)		771,651		11,806,121

Security	Shares		Value
Machinery — 4.2%
CNH Industrial NV		1,509,548	$	24,777,952
Oil, Gas & Consumable Fuels — 8.5%
Eni SpA		3,772,219		49,709,483
Pharmaceuticals — 1.9%
Recordati Industria Chimica e Farmaceutica SpA		179,973		11,291,673
Textiles, Apparel & Luxury Goods — 3.9%
Moncler SpA		317,631		22,931,847
Transportation Infrastructure — 2.5%
Atlantia SpA(b)		804,690		14,694,998
Total Common Stocks — 99.6%
(Cost: $631,631,922)				583,319,581
Preferred Stocks
Diversified Telecommunication Services — 0.0%
Telecom Italia SpA/Milano, Preference Shares, NVS		389,084		190,020
Total Preferred Stocks — 0.0%
(Cost: $155,960)				190,020
Short-Term Investments
Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(c)(d)		420,000		420,000
Total Short-Term Investments — 0.1%
(Cost: $420,000)				420,000
Total Investments in Securities — 99.7%
(Cost: $632,207,882)				583,929,601
Other Assets, Less Liabilities — 0.3%				1,827,433
Net Assets — 100.0%			$	585,757,034

^(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) Affiliate of the Fund.

^(d) Annualized 7-day yield as of period end.

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Italy ETF
November 30, 2021

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 08/31/21		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 11/30/21		Shares Held at 11/30/21		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares(a)	$	—	$	—	$	0	(b)	$	—	$	—	$	—		—	$	718	(c)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		450,000		—		(30,000	)(b)		—		—		420,000		420,000		4			—
								$	—	$	—	$	420,000			$	722		$	—

^(a) As of period end, the entity is no longer held.

^(b) Represents net amount purchased (sold).

^(c) 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.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount (000)		Value/Unrealized Appreciation (Depreciation)
Long Contracts
FTSE/MIB Index		16	12/17/21	$	2,332	$	(147,198	)

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: 

• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

• Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

• Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Italy ETF
November 30, 2021

Fair Value Measurements (continued)

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Investments
Assets
Common Stocks	$	—	$	583,319,581		$	—	$	583,319,581
Preferred Stocks		—		190,020			—		190,020
Money Market Funds		420,000		—			—		420,000
	$	420,000	$	583,509,601		$	—	$	583,929,601
Derivative financial instruments(a)
Liabilities
Futures Contracts	$	—	$	(147,198	)	$	—	$	(147,198	)

^(a) Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Portfolio Abbreviations - Equity

NVS Non-Voting Shares

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