Schedule of Investments (unaudited)	iShares® MSCI Israel ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Aerospace & Defense — 3.1%
Elbit Systems Ltd.		19,785	$	4,021,126
RADA Electronic Industries Ltd.(a)		31,395		377,996
				4,399,122
Banks — 21.2%
Bank Hapoalim BM		908,899		8,415,943
Bank Leumi Le-Israel BM		1,081,702		10,770,084
FIBI Holdings Ltd.		13,197		556,160
First International Bank Of Israel Ltd. (The)		41,083		1,584,019
Israel Discount Bank Ltd., Class A		920,973		5,228,530
Mizrahi Tefahot Bank Ltd.		114,577		3,769,347
				30,324,083
Capital Markets — 0.2%
Altshuler Shaham Penn Ltd.(a)		51,322		174,765
Electreon Wireless Ltd.(a)		2,978		64,453
				239,218
Chemicals — 5.2%
ICL Group Ltd.		527,066		5,887,844
Israel Corp. Ltd. (The)(a)		2,866		1,551,410
				7,439,254
Communications Equipment — 1.2%
AudioCodes Ltd.		19,356		446,289
Gilat Satellite Networks Ltd.(a)		31,571		208,441
Ituran Location and Control Ltd.		11,552		289,493
Radware Ltd.(a)(b)		30,822		743,735
				1,687,958
Construction & Engineering — 2.7%
Ashtrom Group Ltd.		30,143		734,641
Elco Ltd.		7,123		481,128
Electra Ltd./Israel		1,565		877,632
Shapir Engineering and Industry Ltd.		106,391		877,869
Shikun & Binui Ltd.(a)		176,186		862,960
				3,834,230
Consumer Finance — 0.4%
Isracard Ltd.		148,903		632,309
Distributors — 0.2%
Tadiran Group Ltd.		2,557		329,481
Diversified Telecommunication Services — 1.7%
Bezeq The Israeli Telecommunication Corp. Ltd.		1,544,217		2,388,030
Electronic Equipment, Instruments & Components — 0.1%
Nayax Ltd.(a)		59,341		103,779
Equity Real Estate Investment Trusts (REITs) — 0.6%
Reit 1 Ltd.		137,767		826,910
Food & Staples Retailing — 1.5%
M Yochananof & Sons Ltd.		3,775		218,861
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.(b)		6,666		514,593
Shufersal Ltd.		197,539		1,462,668
				2,196,122
Food Products — 1.0%
Mehadrin Ltd.(a)		1		28
Neto Malinda Trading Ltd.(a)		8,548		372,996
Strauss Group Ltd.		38,950		1,024,084
				1,397,108

Security	Shares		Value
Health Care Equipment & Supplies — 1.0%
Inmode Ltd.(a)(b)		52,512	$	1,407,847
Sisram Medical Ltd.(c)		102,000		106,534
				1,514,381
Health Care Providers & Services — 0.2%
Nano-X Imaging Ltd.(a)(b)		26,853		274,438
Hotels, Restaurants & Leisure — 0.4%
Fattal Holdings 1998 Ltd.(a)		4,605		564,058
Household Durables — 1.0%
Azorim-Investment Development & Construction Co. Ltd.		62,760		265,391
Danya Cebus Ltd.		5,802		144,945
Electra Consumer Products 1970 Ltd.		8,985		404,710
Maytronics Ltd.(b)		36,600		658,908
				1,473,954
Independent Power and Renewable Electricity Producers — 2.6%
Doral Group Renewable Energy Resources Ltd.(a)(b)		43,768		141,478
Energix-Renewable Energies Ltd.		173,230		528,280
Enlight Renewable Energy Ltd.(a)		688,772		1,267,228
Kenon Holdings Ltd./Singapore(b)		14,041		794,647
OPC Energy Ltd.(a)(b)		67,762		673,409
OY Nofar Energy Ltd.		10,619		285,091
				3,690,133
Industrial Conglomerates — 0.2%
Arad Investment & Industrial Development Ltd.		2,412		283,650
Insurance — 2.9%
Clal Insurance Enterprises Holdings Ltd.(a)		46,731		875,519
Harel Insurance Investments & Financial Services Ltd.		87,174		962,334
IDI Insurance Co. Ltd.		6,009		174,884
Menora Mivtachim Holdings Ltd.(a)		18,843		443,187
Migdal Insurance & Financial Holdings Ltd.		313,860		507,774
Phoenix Holdings Ltd. (The)		112,218		1,246,250
				4,209,948
Interactive Media & Services — 0.1%
Taboola.com Ltd.(a)		42,370		137,279
Internet & Direct Marketing Retail — 0.7%
Fiverr International Ltd.(a)		23,287		985,273
IT Services — 3.2%
Formula Systems 1985 Ltd.		7,401		690,204
Malam - Team Ltd.		5,662		129,596
Matrix IT Ltd.		25,728		609,441
One Software Technologies Ltd.		29,285		451,490
Wix.com Ltd.(a)(b)		42,403		2,671,813
				4,552,544
Machinery — 1.1%
Kornit Digital Ltd.(a)(b)		36,617		1,536,816
Marine — 2.8%
ZIM Integrated Shipping Services Ltd.		62,440		3,975,555
Media — 0.4%
Perion Network Ltd.(a)		27,783		550,134
Oil, Gas & Consumable Fuels — 2.4%
Delek Group Ltd.(a)		6,808		1,081,292
Equital Ltd.(a)		14,877		534,307
Naphtha Israel Petroleum Corp. Ltd.(a)		24,147		185,631
Oil Refineries Ltd.		1,551,354		654,900

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Israel ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Oil, Gas & Consumable Fuels (continued)
Paz Oil Co. Ltd.(a)(b)		7,520	$	1,046,497
				3,502,627
Pharmaceuticals — 5.4%
Taro Pharmaceutical Industries Ltd.(a)		6,996		256,194
Teva Pharmaceutical Industries Ltd., ADR(a)(b)		821,444		7,475,140
				7,731,334
Professional Services — 0.4%
Danel Adir Yeoshua Ltd.		4,068		540,310
Real Estate Management & Development — 10.5%
AFI Properties Ltd.		7,032		383,026
Africa Israel Residences Ltd.		4,707		278,017
Airport City Ltd.(a)		50,976		953,152
Alony Hetz Properties & Investments Ltd.		110,302		1,608,163
Amot Investments Ltd.		169,355		1,141,360
Azrieli Group Ltd.		31,597		2,372,619
Big Shopping Centers Ltd.		8,668		1,245,809
Blue Square Real Estate Ltd.		3,494		260,750
Brack Capital Properties NV(a)		0		29
Electra Real Estate Ltd.		19,065		341,887
G City Ltd.		61,193		433,442
Gav-Yam Lands Corp. Ltd.		0		1
Israel Canada T.R Ltd.		97,901		432,933
Israel Land Development - Urban Renewal Ltd.		12,018		195,133
Isras Investment Co. Ltd.		1,408		292,530
Mega Or Holdings Ltd.		17,632		584,515
Melisron Ltd.(a)		17,673		1,274,172
Mivne Real Estate KD Ltd.		448,525		1,440,523
Prashkovsky Investments and Construction Ltd.		5,480		194,876
Property & Building Corp. Ltd.(a)		2,199		182,986
Sella Capital Real Estate Ltd.		153,542		463,624
Summit Real Estate Holdings Ltd.		28,707		559,309
YH Dimri Construction & Development Ltd.(b)		5,571		437,967
				15,076,823
Semiconductors & Semiconductor Equipment — 4.8%
Camtek Ltd./Israel(a)		21,219		622,280
Nova Ltd.(a)		21,277		2,248,049
Tower Semiconductor Ltd.(a)		81,210		3,997,315
				6,867,644
Software — 17.6%
Cellebrite DI Ltd.(a)(b)		27,609		133,075
Check Point Software Technologies Ltd.(a)(b)		76,859		9,613,524
Cognyte Software Ltd.(a)(b)		49,890		353,221
CyberArk Software Ltd.(a)(b)		29,602		4,111,718
Hilan Ltd.		10,919		637,812
Magic Software Enterprises Ltd.		20,095		342,942
Nice Ltd.(a)		46,995		9,354,062

Security	Shares		Value
Software (continued)
Sapiens International Corp. NV		24,485	$	618,123
SimilarWeb Ltd.(a)		13,931		124,404
				25,288,881
Specialty Retail — 0.9%
Delek Automotive Systems Ltd.		38,376		505,769
Fox Wizel Ltd.		6,078		771,280
				1,277,049
Technology Hardware, Storage & Peripherals — 0.4%
Nano Dimension Ltd., ADR(a)(b)		190,960		569,061
Textiles, Apparel & Luxury Goods — 0.5%
Delta Galil Industries Ltd.(b)		8,575		508,210
Retailors Ltd.(b)		9,017		195,806
				704,016
Wireless Telecommunication Services — 0.7%
Cellcom Israel Ltd.(a)(b)		66,922		330,655
Partner Communications Co. Ltd.(a)		103,169		752,225
				1,082,880
Total Common Stocks — 99.3%
(Cost: $152,891,885)				142,186,392
Short-Term Securities
Money Market Funds — 3.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(d)(e)(f)		4,848,961		4,848,961
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.72%(d)(e)		70,000		70,000
				4,918,961
Total Short-Term Securities — 3.4%
(Cost: $4,916,962)				4,918,961
Total Investments in Securities — 102.7%
(Cost: $157,808,847)				147,105,353
Liabilities in Excess of Other Assets — (2.7)%				(3,914,567	)
Net Assets — 100.0%			$	143,190,786

^(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) Affiliate of the Fund.

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

^(f) All or a portion of this security was purchased with the cash collateral from loaned securities.

2

Schedule of Investments (unaudited) (continued)	iShares® MSCI Israel ETF
May 31, 2022

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	$	23,201,200	$	—	$	(18,348,265	)(a)	$	(5,187	)	$	1,213	$	4,848,961		4,848,961	$	79,008	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		90,000		—		(20,000	)(a)		—			—		70,000		70,000		106			—
								$	(5,187	)	$	1,213	$	4,918,961			$	79,114		$	—

^(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
Euro STOXX 50 Index		21	06/17/22	$	855	$	9,284

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.

3

Schedule of Investments (unaudited) (continued)	iShares® MSCI Israel ETF
May 31, 2022

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	$	36,292,396	$	105,893,996	$	—	$	142,186,392
Money Market Funds		4,918,961		—		—		4,918,961
	$	41,211,357	$	105,893,996	$	—	$	147,105,353
Derivative financial instruments(a)
Assets
Futures Contracts	$	—	$	9,284	$	—	$	9,284

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

Portfolio Abbreviations - Equity

ADR American Depositary Receipt

4