Schedule of Investments (unaudited)	iShares® MSCI Global Metals & Mining Producers ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Australia — 38.7%
29Metals Ltd.(a)		369,138	$	701,869
Allkem Ltd.(a)		784,686		7,635,592
Alumina Ltd.		3,321,528		4,031,626
Australian Strategic Materials Ltd.(a)		126,378		496,533
AVZ Minerals Ltd.(a)(b)(c)		3,302,250		1,848,490
BHP Group Ltd.		6,866,538		215,581,654
BlueScope Steel Ltd.		669,018		8,675,081
Chalice Mining Ltd.(a)		438,396		1,986,345
Champion Iron Ltd.		466,956		2,528,159
Core Lithium Ltd.(a)		1,987,776		1,990,006
Deterra Royalties Ltd.		629,034		2,016,208
Fortescue Metals Group Ltd.		2,299,794		33,202,238
Glencore PLC		13,416,060		88,486,678
Grange Resources Ltd.		685,440		809,185
IGO Ltd.		921,060		8,258,882
Iluka Resources Ltd.		574,056		4,487,730
Imdex Ltd.		506,940		901,896
ionner Ltd.(a)		2,036,328		841,220
Jervois Global Ltd.(a)		1,655,766		962,491
Lake Resources NL(a)		1,557,234		1,732,201
Liontown Resources Ltd.(a)		2,259,096		2,273,827
Lynas Rare Earths Ltd.(a)		1,228,794		8,612,365
Mincor Resources NL(a)		472,668		831,065
Mineral Resources Ltd.		231,336		10,532,626
Mount Gibson Iron Ltd.		760,410		373,810
Neometals Ltd.(a)		581,910		574,211
Nickel Mines Ltd.		1,457,274		1,335,114
OZ Minerals Ltd.		451,248		7,748,860
Perenti Global Ltd.		836,094		398,604
Pilbara Minerals Ltd.(a)		3,244,416		6,803,353
Rio Tinto Ltd.		504,084		41,242,770
Rio Tinto PLC		1,522,248		110,451,882
Sandfire Resources Ltd.		566,202		2,227,557
Sayona Mining Ltd.(a)(c)		7,277,074		1,133,719
Sims Ltd.		229,194		2,884,760
South32 Ltd.		6,293,196		22,140,632
Syrah Resources Ltd.(a)		851,088		1,123,841
Vulcan Energy Resources Ltd.(a)(c)		123,522		721,578
Western Areas Ltd.(a)		372,708		1,029,397
Yangzhou Yangjie Electronic Technology Co. Ltd.		1,251,310		26,398,054
				636,012,109
Austria — 0.3%
voestalpine AG		159,936		4,695,741
Belgium — 0.1%
Bekaert SA		52,836		2,134,065
Brazil — 6.3%
Bradespar SA		5,712		29,855
Cia Brasileira de Aluminio		204,918		706,695
Cia. Siderurgica Nacional SA		936,768		4,304,850
Vale SA		5,426,400		98,433,461
				103,474,861
Canada — 5.3%
Algoma Steel Group Inc.		110,670		1,066,583
Altius Minerals Corp.		53,550		823,032
Capstone Mining Corp.(a)		426,972		1,616,947
Copper Mountain Mining Corp.(a)		194,208		422,241

Security	Shares		Value
Canada (continued)
ERO Copper Corp.(a)	100,674	$	1,248,824
Filo Mining Corp.(a)	114,240		2,290,490
First Quantum Minerals Ltd.	798,252		23,111,032
Hudbay Minerals Inc.	305,592		1,749,208
Ivanhoe Mines Ltd., Class A(a)	826,098		6,296,070
Labrador Iron Ore Royalty Corp.(c)	78,540		1,989,502
Largo Inc.(a)(c)	52,122		474,305
Lithium Americas Corp.(a)(c)	145,656		3,566,404
Lundin Mining Corp.	889,644		7,919,826
Major Drilling Group International Inc.(a)	89,250		745,132
Solaris Resources Inc.(a)(c)	72,114		639,126
Stelco Holdings Inc.	67,116		2,082,700
Taseko Mines Ltd.(a)	324,870		511,121
Teck Resources Ltd., Class B	643,314		26,671,452
Turquoise Hill Resources Ltd.(a)	109,956		3,087,826
			86,311,821
Chile — 0.1%
CAP SA	93,534		1,197,378
China — 2.5%
Aluminum Corp. of China Ltd., Class A(a)	1,213,865		930,136
Aluminum Corp. of China Ltd., Class H(a)	5,148,000		2,295,235
Anhui Honglu Steel Construction Group Co. Ltd., Class A	35,500		206,307
Baoshan Iron & Steel Co. Ltd., Class A	1,927,893		1,842,099
Chengtun Mining Group Co. Ltd., Class A	285,600		318,812
China Hongqiao Group Ltd.	3,213,000		3,982,259
China Metal Recycling Holdings Ltd.(b)	132,000		—
China Minmetals Rare Earth Co. Ltd., Class A	71,400		288,599
China Molybdenum Co. Ltd., Class A	1,713,600		1,218,031
China Molybdenum Co. Ltd., Class H	4,614,000		2,257,664
China Nonferrous Mining Corp Ltd.	1,428,000		817,071
China Northern Rare Earth Group High-Tech Co. Ltd., Class A	285,670		1,485,325
China Oriental Group Co. Ltd.	1,180,000		309,338
China Zhongwang Holdings Ltd.(a)(b)	1,552,000		208,115
E-Commodities Holdings Ltd.	1,428,000		354,853
Ganfeng Lithium Co. Ltd., Class A	87,800		1,559,226
Ganfeng Lithium Co. Ltd., Class H(d)	339,200		4,347,713
GEM Co. Ltd., Class A	571,217		628,107
Henan Shenhuo Coal & Power Co. Ltd.	214,200		452,434
Hesteel Co. Ltd., Class A	1,213,800		426,667
Huaibei Mining Holdings Co. Ltd.	214,200		490,297
Hunan Valin Steel Co. Ltd., Class A	642,600		514,143
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A(a)	3,855,621		1,156,740
Inner Mongolia ERDOS Resources Co. Ltd.	71,400		293,066
Jiangxi Copper Co. Ltd., Class A	142,800		385,064
Jiangxi Copper Co. Ltd., Class H	1,558,000		2,521,428
Jinchuan Group International Resources Co. Ltd.	4,998,000		533,456
Maanshan Iron & Steel Co. Ltd., Class A	571,200		332,854
MMG Ltd.(a)	3,890,000		1,648,470
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A(a)	785,400		392,428
Shandong Nanshan Aluminum Co. Ltd., Class A	1,060,530		561,171
Shanxi Meijin Energy Co. Ltd., Class A(a)	359,628		621,641
Shanxi Taigang Stainless Steel Co. Ltd., Class A	499,800		431,123
Shenghe Resources Holding Co. Ltd., Class A	214,200		565,332
Shougang Fushan Resources Group Ltd.	2,856,000		1,234,451
Tiangong International Co. Ltd.	1,428,000		472,449
Tianshan Aluminum Group Co. Ltd., Class A	416,000		447,056

1

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Metals & Mining Producers ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
China (continued)
Tibet Summit Resources Co. Ltd., Class-A(a)	71,400	$	245,722
Tongling Nonferrous Metals Group Co. Ltd., Class A	928,200		446,902
Western Mining Co. Ltd., Class A	214,200		386,975
Western Superconducting Technologies Co. Ltd., Class A	24,450		339,227
Xiamen Tungsten Co. Ltd., Class A	142,899		418,395
Yintai Gold Co. Ltd., Class A	273,240		415,444
YongXing Special Materials Technology Co. Ltd., Class A	21,100		377,941
Yunnan Aluminium Co. Ltd., Class A(a)	285,600		491,240
Yunnan Tin Co. Ltd., Class A	142,800		359,962
Zhejiang Huayou Cobalt Co. Ltd., Class A	90,500		1,274,348
			41,285,316
Cyprus — 0.0%
Atalaya Mining PLC	146,370		711,941
Finland — 0.2%
Outokumpu Oyj	501,942		2,897,963
France — 1.9%
APERAM SA	66,402		2,749,807
ArcelorMittal SA	829,668		26,563,573
Eramet SA(a)	12,852		1,947,577
			31,260,957
Germany — 0.7%
Aurubis AG	42,840		4,046,711
Salzgitter AG(a)(c)	42,126		1,726,232
thyssenkrupp AG(a)	634,746		6,111,523
			11,884,466
India — 2.7%
APL Apollo Tubes Ltd.(a)	178,492		2,145,287
Godawari Power and Ispat Ltd.	50,694		192,985
Hindalco Industries Ltd.	1,834,266		9,974,495
Hindustan Copper Ltd.	237,048		320,903
Jindal Stainless Hisar Ltd.(a)	130,662		371,889
Jindal Stainless Ltd.(a)	233,478		336,311
Jindal Steel & Power Ltd.	552,636		2,685,134
JSW Steel Ltd.	998,886		7,077,034
Lloyds Metals & Energy Ltd.	81,396		149,139
National Aluminium Co. Ltd.	1,134,546		1,405,701
Ratnamani Metals & Tubes Ltd.	24,990		846,596
Tata Steel Ltd.	835,380		11,346,364
Tata Steel Ltd., GDR	157,080		2,057,853
Usha Martin Ltd.(a)	137,802		207,938
Vedanta Ltd.	1,033,872		4,280,820
Welspun Corp. Ltd.	148,294		432,259
			43,830,708
Indonesia — 0.7%
Adaro Minerals Indonesia Tbk PT(a)	11,067,000		1,692,573
Bumi Resources Minerals Tbk PT(a)	56,730,800		887,087
Merdeka Copper Gold Tbk PT(a)	16,422,486		6,117,497
Timah Tbk PT(a)	3,498,600		454,426
Vale Indonesia Tbk PT	3,140,300		1,771,413
			10,922,996
Japan — 4.0%
Daido Steel Co. Ltd.	28,600		803,934
Daiki Aluminium Industry Co. Ltd.	59,000		609,928
Dowa Holdings Co. Ltd.	71,400		2,612,217
Hitachi Metals Ltd.(a)	293,100		4,705,215

Security	Shares		Value
Japan (continued)
JFE Holdings Inc.	642,600	$	7,905,358
Kobe Steel Ltd.	499,800		2,630,434
Kyoei Steel Ltd.	18,400		186,566
Maruichi Steel Tube Ltd.	73,500		1,696,099
Mitsubishi Materials Corp.	150,200		2,309,813
Mitsui Mining & Smelting Co. Ltd.	74,200		1,956,893
Nippon Light Metal Holdings Co. Ltd.	76,040		930,112
Nippon Steel Corp.	1,071,005		18,664,012
Pacific Metals Co. Ltd.	22,600		490,499
Sanyo Special Steel Co. Ltd.	25,900		422,697
Sumitomo Metal Mining Co. Ltd.	338,600		14,157,748
Toho Titanium Co. Ltd.	71,400		1,206,390
Tokyo Steel Manufacturing Co. Ltd.	71,400		833,074
UACJ Corp.	33,638		575,612
Yamato Kogyo Co. Ltd.	71,400		2,379,096
Yodogawa Steel Works Ltd.	19,600		342,832
			65,418,529
Malaysia — 0.4%
Press Metal Aluminium Holdings Bhd	4,926,600		6,225,193
Mexico — 1.3%
Grupo Mexico SAB de CV, Series B	4,212,600		20,807,746
Netherlands — 0.1%
AMG Advanced Metallurgical Group NV	39,270		1,441,451
New Zealand — 0.0%
Vulcan Steel Ltd.	67,116		406,038
Norway — 0.9%
Norsk Hydro ASA	1,896,068		15,214,522
Peru — 0.4%
Southern Copper Corp.	114,954		7,101,858
Poland — 0.5%
Jastrzebska Spolka Weglowa SA(a)(c)	72,114		1,122,307
KGHM Polska Miedz SA	188,496		6,420,523
			7,542,830
Qatar — 0.1%
Qatar Aluminum Manufacturing Co.	3,754,926		2,096,434
Russia — 0.0%
Alrosa PJSC(b)	2,886,002		460
MMC Norilsk Nickel PJSC(b)	71,400		11
Novolipetsk Steel PJSC(b)	1,668,000		266
Severstal PAO(b)	233,400		37
United Co. RUSAL International PJSC(a)(b)	3,450,000		550
			1,324
Saudi Arabia — 1.2%
Saudi Arabian Mining Co.(a)	1,172,388		20,315,693
Singapore — 0.0%
Straits Trading Co. Ltd.	142,800		321,028
South Africa — 2.9%
African Rainbow Minerals Ltd.	152,082		2,533,347
Anglo American Platinum Ltd.	72,114		7,892,240
Impala Platinum Holdings Ltd.	1,145,256		15,614,264
Kumba Iron Ore Ltd.	87,822		3,307,160
Northam Platinum Holdings Ltd.(a)	459,102		5,517,294
Royal Bafokeng Platinum Ltd.	130,662		1,333,953

2

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Metals & Mining Producers ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
South Africa (continued)
Sibanye Stillwater Ltd.	3,785,628	$	12,258,987
			48,457,245
South Korea — 2.3%
Dongkuk Steel Mill Co. Ltd.	86,394		1,234,161
Hyundai Steel Co.	120,666		4,004,025
KG Dongbu Steel Co. Ltd.(c)	36,414		502,204
Korea Zinc Co. Ltd.	11,424		5,470,223
Poongsan Corp.	25,704		630,993
POSCO Holdings Inc.	106,386		24,728,302
Seah Besteel Holdings Corp.	20,706		292,664
SeAH Steel Holdings Corp.	1		131
Young Poong Corp.	714		387,896
			37,250,599
Spain — 0.2%
Acerinox SA	275,604		3,575,732
Sweden — 1.5%
Boliden AB	367,710		15,473,856
Boliden AB, NVS(a)	374,136		593,043
Granges AB	145,656		1,316,314
SSAB AB, Class A(c)	340,578		2,104,507
SSAB AB, Class B	851,088		4,909,061
			24,396,781
Switzerland — 0.0%
Swiss Steel Holding AG, Registered(a)	1,227,366		303,259
Taiwan — 1.8%
Century Iron & Steel Industrial Co. Ltd.	194,000		772,399
China Metal Products	208,011		230,506
China Steel Corp.	16,010,612		19,031,810
Chun Yuan Steel Industry Co. Ltd.	475,000		319,545
Chung Hung Steel Corp.	1,191,000		1,331,200
EVERGREEN Steel Corp.	199,000		416,854
Feng Hsin Steel Co. Ltd.	714,000		1,940,073
Hsin Kuang Steel Co. Ltd.	200,000		341,521
TA Chen Stainless Pipe	2,018,005		2,994,506
Tung Ho Steel Enterprise Corp.	640,700		1,396,126
YC INOX Co. Ltd.	370,263		389,339
Yieh Phui Enterprise Co. Ltd.(a)	1,428,644		1,000,563
			30,164,442
Turkey — 0.3%
Eregli Demir ve Celik Fabrikalari TAS(c)	1,893,528		3,939,831
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D(a)	1,006,026		903,412
Koza Anadolu Metal Madencilik Isletmeleri AS(a)	268,464		491,536
			5,334,779
United Kingdom — 6.0%
Anglo American PLC	1,723,596		84,910,494
Antofagasta PLC	536,214		10,009,044
Central Asia Metals PLC	238,724		776,105
Ferrexpo PLC	412,692		911,761
Hill & Smith Holdings PLC	117,810		2,073,718
			98,681,122
United States — 15.3%
5E Advanced Materials Inc.(a)	328,440		803,754
Alcoa Corp.	249,900		15,423,828
Allegheny Technologies Inc.(a)(c)	174,216		4,790,940
Alpha Metallurgical Resources Inc.(a)	24,276		3,926,400
Arconic Corp.(a)	142,086		3,996,879

Security	Shares		Value
United States (continued)
Carpenter Technology Corp.(c)	66,402	$	2,339,342
Century Aluminum Co.(a)	68,544		808,819
Cleveland-Cliffs Inc.(a)	711,144		16,484,318
Commercial Metals Co.	167,076		6,637,930
Compass Minerals International Inc.	45,696		2,053,121
Coronado Global Resources Inc.(d)	1,026,732		1,573,022
Freeport-McMoRan Inc.	1,972,782		77,096,321
Kaiser Aluminum Corp.	21,420		2,188,481
Materion Corp.	27,846		2,282,815
MP Materials Corp.(a)(c)	108,528		4,279,259
Nucor Corp.(c)	364,854		48,328,561
Piedmont Lithium Inc.(a)(c)	22,848		1,479,636
Ramaco Resources Inc.	29,274		397,248
Reliance Steel & Aluminum Co.	84,252		16,378,589
Ryerson Holding Corp.	23,562		710,159
Schnitzer Steel Industries Inc., Class A	35,700		1,450,134
Steel Dynamics Inc.	259,896		22,189,921
SunCoke Energy Inc.	117,096		947,307
TimkenSteel Corp.(a)	52,122		1,204,018
U.S. Steel Corp.	354,144		8,878,390
Warrior Met Coal Inc.	69,972		2,352,459
Worthington Industries Inc.	44,982		2,097,960
			251,099,611
Total Common Stocks — 98.7%
(Cost: $1,557,581,664)			1,622,776,538
Preferred Stocks
Brazil — 0.9%
Bradespar SA, Preference Shares, NVS	377,706		2,271,378
Cia Ferro Ligas da Bahia - FERBASA, Preference Shares, NVS	52,836		628,022
Gerdau SA, Preference Shares, NVS	1,554,378		9,540,395
Metalurgica Gerdau SA, Preference Shares, NVS	986,034		2,529,117
			14,968,912
Russia — 0.0%
Mechel PJSC, Preference Shares, NVS(b)	96,000		16
Total Preferred Stocks — 0.9%
(Cost: $11,502,275)			14,968,928
Short-Term Securities
Money Market Funds — 1.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(e)(f)(g)	20,247,405		20,247,405
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.72%(e)(f)	2,350,000		2,350,000
			22,597,405
Total Short-Term Securities — 1.4%
(Cost: $22,596,018)			22,597,405
Total Investments in Securities — 101.0%
(Cost: $1,591,679,957)			1,660,342,871
Liabilities in Excess of Other Assets — (1.0)%			(15,823,799	)
Net Assets — 100.0%		$	1,644,519,072

^(a) Non-income producing security.

3

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Metals & Mining Producers ETF
May 31, 2022

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

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

^(d) 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.

^(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 the cash collateral from loaned securities.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2022 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 Sale		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 05/31/22		Shares Held at 05/31/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	6,852,782	$	13,405,782	(a)	$	—	$	(11,991	)	$	832	$	20,247,405		20,247,405	$	196,356	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		—		2,350,000	(a)		—		—			—		2,350,000		2,350,000		2,025			—
								$	(11,991	)	$	832	$	22,597,405			$	198,381		$	—

^(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
E-mini Energy Select Sector Index	21	06/17/22	$	1,904	$	160,501
MSCI Emerging Markets Index	71	06/17/22		3,775		143,934
					$	304,435

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

4

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Metals & Mining Producers ETF
May 31, 2022

Fair Value Measurements (continued)

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	$	499,002,271	$	1,121,716,338	$	2,057,929	$	1,622,776,538
Preferred Stocks		14,968,912		—		16		14,968,928
Money Market Funds		22,597,405		—		—		22,597,405
	$	536,568,588	$	1,121,716,338	$	2,057,945	$	1,660,342,871
Derivative financial instruments(a)
Assets
Futures Contracts	$	304,435	$	—	$	—	$	304,435

^(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
NVS	Non-Voting Shares
PJSC	Public Joint Stock Company

5