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

Security	Shares		Value
Common Stocks
Airlines — 0.2%
Asia Aviation PCL, NVDR(a)(b)		6,123,900	$	443,425
Bangkok Airways PCL, NVDR(a)(b)		1,664,600		476,360
				919,785
Auto Components — 0.5%
Sri Trang Agro-Industry PCL, NVDR		2,107,545		1,854,715
Banks — 3.3%
Kiatnakin Phatra Bank PCL, NVDR		484,173		820,400
Krung Thai Bank PCL, NVDR		7,989,200		2,670,925
Siam Commercial Bank PCL (The), NVDR(b)		1,941,300		7,008,286
Thanachart Capital PCL, NVDR(b)		668,800		698,181
Tisco Financial Group PCL, NVDR(b)		457,700		1,216,738
				12,414,530
Beverages — 1.3%
Carabao Group PCL, NVDR(b)		686,100		2,302,801
Osotspa PCL, NVDR		2,747,300		2,603,095
				4,905,896
Building Products — 0.2%
Dynasty Ceramic PCL, NVDR		9,388,440		763,390
Capital Markets — 0.6%
Bangkok Commercial Asset Management PCL, NVDR		4,065,000		2,361,800
Chemicals — 4.2%
Eastern Polymer Group PCL, NVDR		2,263,000		744,837
Indorama Ventures PCL, NVDR		3,842,610		4,461,538
PTT Global Chemical PCL, NVDR		5,155,107		8,572,393
TOA Paint Thailand PCL, NVDR(b)		1,391,800		1,331,780
Vinythai PCL, NVDR		540,300		609,286
				15,719,834
Construction & Engineering — 0.7%
CH Karnchang PCL, NVDR		2,517,700		1,582,120
Sino-Thai Engineering & Construction PCL, NVDR(b)		2,441,128		954,561
				2,536,681
Construction Materials — 5.9%
Siam Cement PCL (The), NVDR		1,783,600		19,662,003
Siam City Cement PCL, NVDR		204,300		948,823
Tipco Asphalt PCL, NVDR(b)		1,629,000		860,485
TPI Polene PCL, NVDR		13,117,200		646,390
				22,117,701
Consumer Finance — 4.1%
AEON Thana Sinsap Thailand PCL, NVDR(b)		199,700		1,073,192
JMT Network Services PCL, NVDR(b)		1,003,100		1,748,849
Krungthai Card PCL, NVDR(b)		2,063,600		3,272,746
Muangthai Capital PCL, NVDR(b)		1,696,800		2,813,448
Ngern Tid Lor PCL, NVDR(a)		2,427,100		2,592,940
Ratchthani Leasing PCL, NVDR		5,231,627		620,910
Srisawad Corp. PCL, NVDR(b)		1,727,060		3,066,988
				15,189,073
Containers & Packaging — 1.6%
Polyplex Thailand PCL, NVDR(b)		611,300		416,570
SCG Packaging PCL, NVDR		2,944,900		5,402,232
				5,818,802
Diversified Telecommunication Services — 1.2%
Jasmine International PCL, NVDR(b)		9,822,568		831,591
True Corp. PCL, NVDR(b)		26,704,618		3,572,312
				4,403,903

Security	Shares		Value
Electronic Equipment, Instruments & Components — 5.4%
Delta Electronics Thailand PCL, NVDR(b)		712,900	$	9,466,260
Hana Microelectronics PCL, NVDR		1,288,400		3,570,352
Jay Mart PCL, NVDR(b)		1,069,200		1,581,623
KCE Electronics PCL, NVDR(b)		1,889,800		5,147,423
Synnex Thailand PCL, NVDR(b)		592,500		513,291
				20,278,949
Entertainment — 0.4%
Major Cineplex Group PCL, NVDR(b)		1,237,100		675,499
RS PCL, NVDR(a)(b)		1,119,100		699,988
				1,375,487
Food & Staples Retailing — 6.9%
Berli Jucker PCL, NVDR(b)		2,749,300		2,688,537
CP ALL PCL, NVDR		13,351,400		23,129,135
				25,817,672
Food Products — 3.5%
Charoen Pokphand Foods PCL, NVDR(b)		8,860,600		6,246,064
GFPT PCL, NVDR(b)		1,152,700		400,225
Ichitan Group PCL, NVDR(b)		1,178,900		351,721
Khon Kaen Sugar Industry PCL, NVDR(a)(b)		3,496,578		363,173
R&B Food Supply PCL, NVDR(b)		1,149,100		667,616
Thai Union Group PCL, NVDR		6,547,000		3,827,462
Thai Vegetable Oil PCL, NVDR		1,024,353		911,511
Thaifoods Group PCL, NVDR(b)		2,547,400		314,472
				13,082,244
Health Care Equipment & Supplies — 0.5%
Sri Trang Gloves Thailand PCL, NVDR(b)		2,291,700		2,040,240
Health Care Providers & Services — 6.3%
Bangkok Chain Hospital PCL, NVDR		3,136,425		1,985,104
Bangkok Dusit Medical Services PCL, NVDR		21,803,000		14,404,739
Bumrungrad Hospital PCL, NVDR		1,090,176		4,642,545
Chularat Hospital PCL, NVDR(b)		11,317,500		1,299,981
Thonburi Healthcare Group PCL, NVDR(b)		1,171,900		1,182,420
				23,514,789
Hotels, Restaurants & Leisure — 2.7%
Asset World Corp. PCL, NVDR(a)		18,293,800		2,313,848
Central Plaza Hotel PCL, NVDR(a)		926,100		845,405
Minor International PCL, NVDR(a)		7,133,010		5,756,058
MK Restaurants Group PCL, NVDR		735,800		1,095,879
				10,011,190
Independent Power and Renewable Electricity Producers — 8.9%
Absolute Clean Energy PCL, NVDR(b)		4,694,000		498,906
B Grimm Power PCL, NVDR		1,788,400		2,092,637
Banpu Power PCL, NVDR(b)		1,742,100		866,246
BCPG PCL, NVDR		1,855,450		686,113
CK Power PCL, NVDR(b)		4,661,360		673,577
Electricity Generating PCL, NVDR		601,900		2,959,494
Energy Absolute PCL, NVDR		3,410,400		8,283,939
Global Power Synergy PCL, NVDR		1,612,000		3,506,993
Gulf Energy Development PCL, NVDR		6,707,200		7,799,768
Gunkul Engineering PCL, NVDR(b)		9,139,222		1,227,766
Ratch Group PCL, NVDR		1,823,800		2,336,479
SPCG PCL, NVDR		1,089,700		575,611
Super Energy Corp. PCL, NVDR		37,446,750		1,045,670
TPI Polene Power PCL, NVDR(b)		5,722,500		703,054
				33,256,253
Industrial Conglomerates — 0.2%
Thoresen Thai Agencies PCL, NVDR		3,125,200		848,597

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

Security	Shares		Value
Insurance — 0.9%
Bangkok Life Assurance PCL, NVDR(b)		1,171,400	$	1,000,076
Dhipaya Group Holdings PCL(a)		830,800		1,362,169
TQM Corp. PCL, NVDR(b)		308,500		962,137
				3,324,382
Marine — 0.5%
Precious Shipping PCL, NVDR		1,793,600		833,921
Regional Container Lines PCL, NVDR		762,200		918,651
				1,752,572
Media — 0.9%
BEC World PCL, NVDR(a)		2,097,200		883,752
Plan B Media PCL, NVDR.		4,436,500		855,193
VGI PCL, NVDR(b)		7,875,900		1,564,498
				3,303,443
Multiline Retail — 1.1%
Central Retail Corp. PCL, NVDR(b)		4,137,434		3,925,735
Oil, Gas & Consumable Fuels — 13.1%
Bangchak Corp. PCL, NVDR		2,361,600		1,690,104
Banpu PCL, NVDR		12,377,300		3,782,690
Esso Thailand PCL, NVDR(a)		2,385,100		510,529
IRPC PCL, NVDR(b)		25,698,900		2,838,265
Prima Marine PCL, NVDR		2,334,500		418,669
PTT Exploration & Production PCL, NVDR		3,177,284		10,639,216
PTT PCL, NVDR		22,859,200		23,965,588
Siamgas & Petrochemicals PCL, NVDR		1,247,800		461,833
Star Petroleum Refining PCL, NVDR(a)		3,955,900		1,052,155
Thai Oil PCL, NVDR		2,561,200		3,514,071
				48,873,120
Pharmaceuticals — 0.3%
Mega Lifesciences PCL, NVDR		797,500		1,250,268
Real Estate Management & Development — 6.3%
Amata Corp. PCL, NVDR(b)		1,971,900		1,133,556
AP Thailand PCL, NVDR		5,394,686		1,391,462
Bangkok Land PCL, NVDR(b)		25,679,700		800,169
Central Pattana PCL, NVDR		4,618,000		7,120,290
Land & Houses PCL, NVDR		19,121,600		4,726,777
MBK PCL, NVDR(a)		1,939,400		759,264
Origin Property PCL, NVDR		1,711,200		532,573
Pruksa Holding PCL, NVDR(b)		1,758,900		677,651
Quality Houses PCL, NVDR		17,326,432		1,141,470
Sansiri PCL, NVDR		27,179,637		967,139
SC Asset Corp. PCL, NVDR		3,328,704		318,078
Singha Estate PCL, NVDR(a)		7,195,400		387,468
Supalai PCL, NVDR		2,940,400		1,818,566
WHA Corp. PCL, NVDR(b)		18,797,940		1,824,238
				23,598,701
Road & Rail — 1.3%
BTS Group Holdings PCL, NVDR(b)		18,059,200		4,923,546
Specialty Retail — 4.3%
Com7 PCL, NVDR		1,234,800		2,833,904
Dohome PCL, NVDR(b)		1,365,710		913,680
Home Product Center PCL, NVDR		13,507,173		5,447,413
PTG Energy PCL, NVDR(b)		1,904,600		811,565
PTT Oil & Retail Business PCL, NVDR		6,860,000		5,079,784
Singer Thailand PCL, NVDR(b)		630,900		905,922
				15,992,268

Security	Shares		Value
Transportation Infrastructure — 5.9%
Airports of Thailand PCL, NVDR		9,799,700	$	17,355,833
Bangkok Aviation Fuel Services PCL, NVDR(a)(b)		437,200		324,356
Bangkok Expressway & Metro PCL, NVDR(b)		17,473,053		4,378,790
				22,058,979
Water Utilities — 0.5%
Eastern Water Resources Development and Management  PCL, NVDR(b)		1,329,600		363,020
TTW PCL, NVDR(b)		3,180,166		1,072,933
WHA Utilities and Power PCL, NVDR(b)		2,618,800		313,617
				1,749,570
Wireless Telecommunication Services — 5.9%
Advanced Info Service PCL, NVDR(b)		2,720,119		16,603,375
Intouch Holdings PCL, NVDR		2,570,400		5,545,937
				22,149,312
Total Common Stocks — 99.6%
(Cost: $464,093,488)				372,133,427
Rights
Consumer Finance — 0.1%
JMT Network Services PCL, (Expires 12/16/21)(a)		220,842		113,051
Food & Staples Retailing — 0.0%
CP All PCL, (Expires 12/31/21)(a)		918,607		—
Food Products — 0.0%
Charoen Pokphand Foods PCL, (Expires 12/31/21)(a)		130,656		—
Media — 0.0%
Plan B Media PCL, (Expires 12/22/21)(a)		367,760		16,370
Real Estate Management & Development — 0.0%
Origin Property PCL, (Expires 12/08/21)(a)		24,556		—
Specialty Retail — 0.0%
Singer Thailand PCL, (Expires 12/09/21)(a)		121,124		43,851
Total Rights — 0.1%
(Cost: $0)				173,272
Warrants
Real Estate Management & Development — 0.0%
MBK PCL, (Expires 11/15/24)(a)		77,576		23,481
Road & Rail — 0.0%
BTS Group Holdings PCL, (Expires 07/11/24)(a)		1,740,820		26,347
BTS Group Holdings PCL, (Expires 11/20/26)(a)		3,481,640		1
				26,348
Total Warrants — 0.0%
(Cost: $0)				49,829
Short-Term Investments
Money Market Funds — 9.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(c)(d)(e)		32,735,427		32,748,521

2

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

Security	Shares		Value
Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(c)(d)		1,140,000	$	1,140,000
				33,888,521
Total Short-Term Investments — 9.1%
(Cost: $33,886,601)				33,888,521
Total Investments in Securities — 108.8%
(Cost: $497,980,089)				406,245,049
Other Assets, Less Liabilities — (8.8)%				(32,695,472	)
Net Assets — 100.0%			$	373,549,577

^(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 the cash collateral from loaned securities.

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	$	33,250,286	$	—		$	(498,286	)(a)	$	(756	)	$	(2,723	)	$	32,748,521		32,735,427	$	699,167	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		1,130,000		10,000	(a)		—			—			—			1,140,000		1,140,000		13			—
									$	(756	)	$	(2,723	)	$	33,888,521			$	699,180		$	—

^(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.

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
MSCI Emerging Markets Index		8	12/17/21	$	485	$	(11,775	)

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

3

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

Fair Value Measurements (continued)

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.

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.	$	21,664,624		$	350,468,803	$	—	$	372,133,427
Rights		—			173,272		—		173,272
Warrants		26,347			23,482		—		49,829
Money Market Funds		33,888,521			—		—		33,888,521
	$	55,579,492		$	350,665,557	$	—	$	406,245,049
Derivative financial instruments(a)
Liabilities
Futures Contracts	$	(11,775	)	$	—	$	—	$	(11,775	)

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

Portfolio Abbreviations - Equity

NVDR Non-Voting Depositary Receipt

4