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

Security	Shares		Value
Common Stocks
Australia — 1.9%
Beach Energy Ltd.		71,586	$	59,992
Karoon Energy Ltd.(a)		24,541		29,478
New Hope Corp. Ltd.		18,042		26,441
Oil Search Ltd.		82,450		221,724
Paladin Energy Ltd.(a)		95,836		64,317
Santos Ltd.		77,988		351,666
Washington H Soul Pattinson & Co. Ltd.		9,047		199,449
Whitehaven Coal Ltd.(a)		39,576		67,917
Woodside Petroleum Ltd.		40,255		610,760
				1,631,744
Austria — 0.4%
OMV AG		6,208		329,675
Brazil — 1.1%
3R Petroleum Oleo E Gas SA(a)		6,790		33,359
Enauta Participacoes SA		4,365		10,342
Petro Rio SA(a)		25,818		93,181
Petroleo Brasileiro SA		157,334		843,503
				980,385
Canada — 8.2%
Advantage Energy Ltd.(a)		7,883		43,752
ARC Resources Ltd.		29,003		254,510
Baytex Energy Corp.(a)		23,765		68,461
Birchcliff Energy Ltd.		11,252		57,165
Cameco Corp.		16,781		391,331
Canacol Energy Ltd.		5,361		13,177
Canadian Natural Resources Ltd.		49,761		2,034,925
Cenovus Energy Inc.		55,193		654,997
Crescent Point Energy Corp.		24,347		104,825
Denison Mines Corp.(a)		31,913		51,213
Energy Fuels Inc./Canada(a)		6,402		56,430
Enerplus Corp.		10,767		101,732
Freehold Royalties Ltd.		5,141		43,786
Headwater Exploration Inc.(a)		8,051		28,739
Imperial Oil Ltd.		10,379		343,109
Kelt Exploration Ltd.(a)		6,305		21,174
MEG Energy Corp.(a)		11,640		94,764
NexGen Energy Ltd.(a)		16,781		78,555
NuVista Energy Ltd.(a)		7,566		36,662
Paramount Resources Ltd., Class A		3,104		52,120
Parex Resources Inc.		5,141		82,420
Peyto Exploration & Development Corp.		6,790		55,385
PrairieSky Royalty Ltd.		8,536		93,282
Suncor Energy Inc.		62,565		1,524,148
Tamarack Valley Energy Ltd.(a)		16,878		45,318
Tourmaline Oil Corp.		12,998		432,537
Vermilion Energy Inc.(a)		6,596		65,885
Whitecap Resources Inc.		25,608		136,314
				6,966,716
China — 1.3%
China Coal Energy Co. Ltd., Class H		97,000		48,761
China Shenhua Energy Co. Ltd., Class A		19,400		59,613
China Shenhua Energy Co. Ltd., Class H		145,500		301,452
Guanghui Energy Co. Ltd., Class A(a)		19,400		18,155
Inner Mongolia Yitai Coal Co. Ltd., Class B		48,500		38,565
PetroChina Co. Ltd., Class A		48,500		35,779
PetroChina Co. Ltd., Class H		870,000		376,717
Shaanxi Coal Industry Co. Ltd., Class A		22,000		41,159

Security	Shares		Value
China (continued)
Shanxi Coking Coal Energy Group Co. Ltd., Class A		9,710	$	12,171
Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A		9,700		16,445
Yanzhou Coal Mining Co. Ltd., Class A		9,700		34,836
Yanzhou Coal Mining Co. Ltd., Class H(b)		66,000		103,336
				1,086,989
Colombia — 0.2%
Ecopetrol SA		206,028		134,086
Finland — 1.0%
Neste OYJ		17,751		839,568
France — 5.7%
TotalEnergies SE		105,439		4,851,540
Greece — 0.1%
Hellenic Petroleum Holdings SA		2,535		16,649
Motor Oil Hellas Corinth Refineries SA(b)		2,828		42,752
				59,401
Hungary — 0.1%
MOL Hungarian Oil & Gas PLC		17,169		129,028
India — 5.4%
Bharat Petroleum Corp. Ltd.		36,375		178,926
Coal India Ltd.		65,087		131,532
Hindustan Petroleum Corp. Ltd.		28,033		110,147
Indian Oil Corp. Ltd.		81,965		129,319
Oil & Natural Gas Corp. Ltd.		105,536		197,985
Oil India Ltd.		11,446		32,155
Reliance Industries Ltd.		75,951		2,428,463
Reliance Industries Ltd., GDR(c)		22,407		1,431,807
				4,640,334
Indonesia — 0.3%
Adaro Energy Tbk PT		620,800		73,969
Bukit Asam Tbk PT		148,100		26,922
Indika Energy Tbk PT(a)		67,900		7,751
Indo Tambangraya Megah Tbk PT		19,400		29,190
Medco Energi Internasional Tbk PT(a)		329,812		10,945
Sugih Energy Tbk PT(a)(d)		206,700		—
United Tractors Tbk PT		70,500		104,869
				253,646
Israel — 0.2%
Delek Group Ltd.(a)		388		31,812
Equital Ltd.(a)		874		30,186
Naphtha Israel Petroleum Corp. Ltd.(a)(b)		1,359		8,572
Oil Refineries Ltd.(a)		77,212		19,785
Paz Oil Co. Ltd.(a)		388		47,899
				138,254
Italy — 1.7%
Eni SpA		106,409		1,402,235
Saras SpA(a)		23,668		14,839
				1,417,074
Japan — 1.3%
Cosmo Energy Holdings Co. Ltd.		2,036		39,635
ENEOS Holdings Inc.		126,100		468,117
Idemitsu Kosan Co. Ltd.		9,068		233,262
Inpex Corp.		43,000		351,851
Japan Petroleum Exploration Co. Ltd.		1,300		26,107
				1,118,972

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

Security	Shares		Value
Netherlands — 8.0%
Royal Dutch Shell PLC, Class A		172,272	$	3,603,821
Royal Dutch Shell PLC, Class B		155,006		3,248,295
				6,852,116
Norway — 1.4%
Aker BP ASA		5,141		162,792
BW Energy Ltd.(a)		3,104		7,162
DNO ASA(a)		18,915		21,898
Equinor ASA		41,128		1,029,062
				1,220,914
Philippines — 0.0%
Semirara Mining & Power Corp.		38,800		17,596
Poland — 0.3%
Grupa Lotos SA(a)		3,880		50,855
Polski Koncern Naftowy ORLEN SA		12,610		220,182
				271,037
Portugal — 0.2%
Galp Energia SGPS SA		21,049		197,533
Russia — 3.8%
LUKOIL PJSC		17,460		1,538,311
Novatek PJSC, GDR(e)		3,880		846,423
Rosneft Oil Co. PJSC		48,354		367,876
Surgutneftegas PJSC		305,510		151,438
Tatneft PJSC		58,394		373,531
				3,277,579
Saudi Arabia — 1.1%
Rabigh Refining & Petrochemical Co.(a)		9,312		54,374
Saudi Arabian Oil Co.(c)		92,150		850,442
				904,816
South Africa — 0.1%
Exxaro Resources Ltd.		10,573		100,917
Thungela Resources Ltd.(a)		5,656		26,504
				127,421
South Korea — 0.6%
SK Innovation Co. Ltd.(a)		2,134		349,120
S-Oil Corp.		1,940		129,958
				479,078
Spain — 0.8%
Repsol SA		61,013		674,192
Sweden — 0.3%
Lundin Energy AB		8,439		298,229
Thailand — 0.5%
Bangchak Corp. PCL, NVDR		48,500		34,710
Banpu PCL, NVDR		223,100		68,183
Esso Thailand PCL, NVDR(a)		48,500		10,381
IRPC PCL, NVDR		475,300		52,494
PTT Exploration & Production PCL, NVDR		58,231		194,988
Star Petroleum Refining PCL, NVDR(a)		77,600		20,639
Thai Oil PCL, NVDR		48,500		66,544
				447,939
Turkey — 0.1%
Turkiye Petrol Rafinerileri AS(a)		5,238		57,340
United Arab Emirates — 0.0%
Dana Gas PJSC		139,680		40,101

Security	Shares		Value
United Kingdom — 4.7%
BP PLC		845,743	$	3,669,447
Cairn Energy PLC		20,869		50,905
Diversified Energy Co. PLC		34,241		45,202
Energean PLC(a)		4,850		56,859
Harbour Energy PLC(a)		17,349		90,707
Pantheon Resources PLC(a)		21,728		20,112
Serica Energy PLC		7,275		20,464
Tullow Oil PLC(a)		51,313		28,292
				3,981,988
United States — 47.1%
Antero Resources Corp.(a)		11,834		207,805
APA Corp.		15,908		409,949
Arch Resources Inc.		679		52,616
Berry Corp.		2,328		18,950
Brigham Minerals Inc., Class A		1,940		40,274
California Resources Corp.		1,746		68,216
Callon Petroleum Co.(a)(b)		1,940		98,630
Centennial Resource Development Inc./DE, Class A(a)		7,663		47,740
Chesapeake Energy Corp.		3,201		190,588
Chevron Corp.		81,286		9,174,751
Civitas Resources Inc.		2,147		109,733
CNX Resources Corp.(a)		9,312		127,016
Comstock Resources Inc.(a)		3,395		27,466
ConocoPhillips		56,260		3,945,514
CONSOL Energy Inc.(a)		1,358		29,808
Contango Oil & Gas Co.(a)(b)		4,559		15,865
Coterra Energy Inc.		32,367		649,929
CVR Energy Inc.		1,261		19,684
Delek U.S. Holdings Inc.(a)		2,716		42,587
Denbury Inc.(a)		2,134		169,909
Devon Energy Corp.		27,063		1,138,270
Diamondback Energy Inc.		7,275		776,461
EOG Resources Inc.		24,541		2,135,067
EQT Corp.(a)		13,483		261,975
Exxon Mobil Corp.		177,995		10,651,221
Gulfport Energy Operating Corp.(a)		485		35,400
Hess Corp.		11,737		874,641
HollyFrontier Corp.		6,499		210,048
Kosmos Energy Ltd.(a)		17,169		62,839
Laredo Petroleum Inc.(a)		582		34,280
Magnolia Oil & Gas Corp., Class A		5,917		112,245
Marathon Oil Corp.		33,077		512,363
Marathon Petroleum Corp.		26,772		1,629,076
Matador Resources Co.		4,947		194,269
Murphy Oil Corp.		6,499		172,743
Northern Oil and Gas Inc.		2,522		51,398
Oasis Petroleum Inc.		909		108,989
Occidental Petroleum Corp.		39,188		1,161,924
Ovintiv Inc.		10,961		381,004
Par Pacific Holdings Inc.(a)(b)		1,940		26,268
PBF Energy Inc., Class A(a)		4,074		51,047
PDC Energy Inc.		4,171		210,344
Peabody Energy Corp.(a)		3,492		34,780
Pioneer Natural Resources Co.		9,797		1,747,001
Range Resources Corp.(a)		10,379		203,013
SM Energy Co.		4,850		140,650
Southwestern Energy Co.(a)		28,421		127,326
Talos Energy Inc.(a)		1,261		12,572
Tellurian Inc.(a)(b)		16,102		52,493
Texas Pacific Land Corp.		259		313,071

2

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

Security	Shares			Value
United States (continued)
Uranium Energy Corp.(a)		9,991	$	39,165
Valero Energy Corp.		17,169		1,149,293
Viper Energy Partners LP		2,425		52,283
Whiting Petroleum Corp.(a)		1,649		106,674
				40,217,223
Total Common Stocks — 97.9%
(Cost: $78,040,273)				83,642,514
Preferred Stocks
Brazil — 1.2%
Petroleo Brasileiro SA, Preference Shares, NVS		199,044		1,041,982
Russia — 0.2%
Surgutneftegas PJSC, Preference Shares, NVS		291,000		147,208
Total Preferred Stocks — 1.4%
(Cost: $903,587)				1,189,190
Short-Term Investments
Money Market Funds — 0.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(f)(g)(h)		330,022		330,154
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(f)(g)		130,000		130,000
				460,154
Total Short-Term Investments — 0.5%
(Cost: $460,072)				460,154
Total Investments in Securities — 99.8%
(Cost: $79,403,932)				85,291,858
Other Assets, Less Liabilities — 0.2%				138,591
Net Assets — 100.0%			$	85,430,449

^(a) Non-income producing security.

^(b) All or a portion of this security is on loan.

^(c) 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.

^(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(e) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^(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 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	$	525,991	$	—		$	(195,789	)(a)	$	(41	)	$	(7	)	$	330,154		330,022	$	1,790	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		100,000		30,000	(a)		—			—			—			130,000		130,000		2			—
									$	(41	)	$	(7	)	$	460,154			$	1,792		$	—

^(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.

3

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Energy Producers ETF
November 30, 2021

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
E-Mini Energy Select Sector Index		7	12/17/21	$	396	$	(1,519	)
FTSE 100 Index		1	12/17/21		94		(2,893	)
						$	(4,412	)

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.

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	$	50,250,641		$	33,391,873		$	—	$	83,642,514
Preferred Stocks		1,041,982			147,208			—		1,189,190
Money Market Funds		460,154			—			—		460,154
	$	51,752,777		$	33,539,081		$	—	$	85,291,858
Derivative financial instruments(a)
Liabilities
Futures Contracts	$	(1,519	)	$	(2,893	)	$	—	$	(4,412	)

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

Portfolio Abbreviations - Equity

GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
NVS	Non-Voting Shares
PJSC	Public Joint Stock Company

4